Air Canada 2012 Annual Report Download - page 86

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2012 Air Canada Annual Report
86
CONSOLIDATED STATEMENT OF OPERATIONS
For the year ended December 31 2012 2011
(Canadian dollars in millions except per share figures)
Operating revenues
Passenger Note 20 $10,737 $ 10,208
Cargo Note 20 488 481
Other 895 923
Total revenues 12,120 11,612
Operating expenses
Aircraft fuel 3,561 3,375
Wages, salaries and benefits 2,109 1,991
Benefit plan amendments Note 9 (124) –
Capacity purchase agreements Note 21 1,072 1,003
Airport and navigation fees 992 1,007
Depreciation, amortization and impairment 678 728
Aircraft maintenance 672 681
Sales and distribution costs 603 612
Aircraft rent 336 335
Food, beverages and supplies 291 278
Communications and information technology 188 193
Other 1,305 1,230
Total operating expenses 11,683 11,433
Operating income 437 179
Non-operating income (expense)
Foreign exchange gain (loss) 106 (54)
Interest income 37 36
Interest expense (304) (320)
Interest capitalized 18 4
Net financing expense relating to employee benefits Note 9 (16) (16)
Loss on financial instruments recorded at fair value Note 17 (20) (63)
Loss on investments in Aveos Note 19 (65) –
Other (6) (16)
Total non-operating expense (250) (429)
Income (loss) before income taxes and discontinued operations 187 (250)
Income taxes Note 12 (1) 1
Net income (loss) from continuing operations $186 $ (249)
Net loss from discontinued operations – Aveos Note 19 (55) –
Net income (loss) $131 $ (249)
Net income (loss) attributable to:
Shareholders of Air Canada 127 (255)
Non-controlling interests 4 6
$131 $ (249)
Net income (loss) per share attributable to shareholders of Air Canada Note 15
Basic earnings (loss) per share from continuing operations $ 0.66 $ (0.92)
Diluted earnings (loss) per share from continuing operations $ 0.65 $ (0.92)
Basic and diluted loss per share from discontinued operations $ (0.20) $ –
Diluted earnings (loss) per share $ 0.45 $ (0.92)
The accompanying notes are an integral part of the consolidated financial statements.