Consolidated Financial Statements and Notes - Brookfield Asset ...

21. POST-EMPLOYMENT BENEFITSThe company offers pension and other post employment benefi t plans to its employees. The company’s obligations under itsdefi ned benefi t pension plans are determined periodically through the preparation of actuarial valuations. The benefi t plan expense for2005 was $4 million (2004 – $3 million). The discount rate used was 5% (2004 – 6%) with an increase in the rate of compensationof 4% (2004 – 4%) and an investment rate of 7% (2004 – 7%).MILLIONS 2005 2004Plan assets $ 65 $ 57Less: Accrued benefi t obligationDefi ned benefi t pension plan (86) (71)Other post unemployment benefi ts (19) (15)Net liability (40) (29)Less: Unamortized transitional obligations and net actuarial losses 23 11Accrued benefi t liability $ (17) $ (18)22. SUPPLEMENTAL CASH FLOW INFORMATIONMILLIONS 2005 2004Corporate borrowingsIssuances $ 283 $ 207Repayments (362) (110)Net $ (79) $ 97Property specifi c mortgagesIssuances $ 1,190 $ 1,192Repayments (133) (212)Net $ 1,057 $ 980Other debt of subsidiariesIssuances $ 467 $ 726Repayments (366) (233)Net $ 101 $ 493Common sharesIssuances $ 21 $ 7Repurchases (162) (19)Net $ (141) $ (12)PropertyProceeds of dispositions $ 159 $ 222Investments (1,163) (563)Net $ (1,004) $ (341)SecuritiesSecurities sold $ 36 $ 345Securities purchased (469) (617)Loans collected 291 108Loans advanced (81) (1,141)Net $ (223) $ (1,305)Financial assetsSecurities sold $ 649 $ 241Securities purchased (682) (167)Net $ (33) $ 74Brookfield Asset Management | 2005 Annual Report 87