Air Canada 2012 Annual Report Download - page 50

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2012 Air Canada Annual Report
50
10. QUARTERLY FINANCIAL DATA
The following table summarizes quarterly financial results for Air Canada for the last eight quarters.
(Canadian dollars in millions,
except where indicated)
2011 2012
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Operating revenues $ 2,753 $ 2,918 $3,242 $2,699 $ 2,962 $2,989 $ 3,328 $ 2,841
Aircraft fuel 742 882 943 808 889 888 963 821
Ownership (DAR)(1) 273 265 265 260 268 251 257 238
Other operating expenses(2) 1,804 1,698 1,764 1,729 1,898 1,787 1,687 1,736
Operating expenses 2,819 2,845 2,972 2,797 3,055 2,926 2,907 2,795
Operating income (loss) (66) 73 270 (98) (93) 63 421 46
Total non-operating income
(expense) 47 (120) (394) 38 (62) (158) 8 (38)
Recovery of (provision for)
income taxes – 1 – – – (1) – –
Discontinued operations –
Aveos(2) – – – – (55) – – –
Net income (loss) $ (19) $ (46) $(124) $(60) $(210) $(96) $ 429 $8
Net income (loss) per share
– Basic $ (0.07) $ (0.17) $(0.45) $(0.22) $(0.76) $(0.35) $ 1.55 $0.03
– Diluted $ (0.07) $ (0.17) $(0.45) $(0.22) $(0.76) $(0.35) $ 1.54 $0.03
EBITDAR before the impact of
benefit plan amendments(3) (4) $ 207 $ 338 $535 $162 $175 $314 $ 554 $284
EBITDAR(4) $ 207 $ 338 $535 $162 $175 $314 $ 678 $284
Adjusted net income (loss)(5) $ (148) $ – $193 $(167) $(164) $(7) $ 230 $(6)
Adjusted net income (loss) per
diluted share(5) $ (0.53) $ – $0.68 $(0.60) $(0.59) $(0.02) $ 0.82 $(0.02)
(1) DAR refers to the combination of depreciation, amortization and impairment, and aircraft rent expense.
(2) In 2012, Air Canada recorded a loss on its investments in Aveos of $65 million. Refer to section 6 of this MD&A for additional information.
(3) In the third quarter of 2012, Air Canada recorded an operating expense reduction of $124 million related to changes to the terms of the ACPA collective agreement
pertaining to retirement age.
(4) EBITDAR, excluding the impact of benefit plan amendments, and EBITDAR are non-GAAP financial measures. Refer to section 20 "Non-GAAP Financial Measures" of this
MD&A for additional information.
(5) Adjusted net income (loss) and adjusted net income (loss) per diluted share is a non-GAAP financial measure. Refer to section 20 “Non-GAAP Financial Measures” of this
MD&A for additional information.