Air Canada 2012 Annual Report Download - page 132

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2012 Air Canada Annual Report
132
17. FINANCIAL INSTRUMENTS AND RISK MANAGEMENT
Summary of Financial Instruments
Carrying Amounts
December 31, 2012
December 31, 2011
Financial instruments classification
Held for
trading
Loans and
receivables
Available
for sale
Liabilities at
amortized
cost
Total
Financial Assets
Cash and cash equivalents $ 758 $– – $– $758 $ 848
Short-term investments 1,268 – – – 1,268 1,251
Restricted cash 96 – – – 96 76
Accounts receivable – 550 – – 550 712
Deposits and other assets
Restricted cash 188 – – – 188 182
Asset backed commercial paper – – – – – 24
Aircraft related and other deposits – 159 – – 159 182
Prepayment option on senior secured
notes 15 – – – 15 –
Investment in Aveos – – – – – 51
Derivative instruments
Fuel derivatives 16 – – – 16 11
Share forward contracts 10 – – – 10 5
Foreign exchange derivatives – – – – – 5
Interest rate swaps 13 – – – 13 15
$ 2,364 $709 $– $ – $3,073 $ 3,362
Financial Liabilities
Accounts payable $ – $– – $1,028 $1,028 $ 993
Current portion of long-term debt and
finance leases – – – 506 506 424
Long-term debt and finance leases – – – 3,449 3,449 3,906
Derivative instruments
Interest rate swaps – – – – – 13
$ – $– $– $4,983 $4,983 $ 5,336
There have been no changes in classification of financial instruments since December 31, 2011.
For cash flow purposes, the Corporation may settle, from time to time, certain cash equivalents and short-term investments
prior to their original maturity. For this reason, these financial instruments do not meet the criteria of held to maturity and
are therefore designated as held for trading. They are recorded at fair value with changes in fair value recorded in Interest
income.