Air Canada 2009 Annual Report Download - page 88

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2009 Air Canada Annual Report
88
CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS’ EQUITY
For the year ended December 31
(Canadian dollars in millions) 2009 2008
Share Capital
Common shares, beginning of year $ 274 $ 274
Shares issued under the pension MOUs Note 8 28 -
Shares issued under the public offering Note 11 230 -
Total share capital 532 274
Contributed surplus
Balance, beginning of year 1,797 1,791
Fair value of stock-based compensation issued to employees
recognized as compensation expense (recovery) Note 10
2 (5)
Warrants issued under the credit facility Note 6 7 -
Warrants issued under the public offering Note 11 19 -
Proceeds from intercompany agreements Note 18 - 11
Total contributed surplus 1,825 1,797
Retained earnings (defi cit)
Balance, beginning of year (703) 322
Loss for the year (24) (1,025)
Defi cit (727) (703)
Accumulated other comprehensive income (loss)
Balance, beginning of year (606) 56
Other comprehensive income (loss) 422 (662)
Total accumulated other comprehensive loss (184) (606)
Total defi cit and accumulated other comprehensive loss (911) (1,309)
Total shareholders’ equity $ 1,446 $ 762
The accompanying notes are an integral part of the consolidated fi nancial statements.
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (LOSS)
For the year ended December 31
(Canadian dollars in millions)
2009 2008
Comprehensive income (loss)
Loss for the year $ (24) $ (1,025)
Other comprehensive income (loss), net of taxes:
Net losses on fuel derivatives
under hedge accounting, net of taxes Note 15 (1) (605)
Reclassifi cation of net realized losses (gains) on
fuel derivatives to income, net of taxes Note 15 423 (57)
422 (662)
Total comprehensive income (loss) $ 398 $ (1,687)
The accompanying notes are an integral part of the consolidated fi nancial statements