16. Deferred revenue (continued)
a. Unearned customer capital contributions
March
December 31, 2014
(millions)
31, 2016
Balance, beginning of period
$ 59
$ 90
Additions Refunds Revenue
66
34
(2)
(2)
(33)
(61)
Balance, end of period
$ 90
$ 61
b. Unearned government grants
March
December 31, 2014
(millions)
31, 2016
Balance, beginning of period
$
9
$
6 –
Amortization
(3)
Balance, end of period
$
6
$
6
Unearned government grants represent amounts received to compensate the Corporation for the cost of certain items of property, plant and equipment. There are no unfulfilled conditions or other contingencies attached to these government grants.
17. Employee future benefits
a. Pension plans During the period, the Corporation contributed $7 million (2014 – $6 million) to pension plans on behalf of employees for current services. The Corporation made no contributions to the defined benefit plan during the period, as all members had reached 35 years of service in 2013. While the Corporation no longer makes contributions, a number of employees still remain members of the plan until retirement.
b. Retiring allowance plan
March
December 31, 2014
(millions)
31, 2016
Balance, beginning of period
$ 10
$ 10
Benefits paid
–
(2)
Balance, end of period
$ 10
$
8
No funds have been set aside to settle these obligations; therefore, there are no retiring allowance plan assets. Benefits paid are funded by the Corporation’s current operations.
74
Consolidated Financial Statements
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