Westjet 1999 Annual Report Download - page 19

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Statements of Cash Flow
Years ended December 31, 1999 and 1998
(Stated in Thousands of Dollars)
1999 1998
Cash provided by (used in):
Operations:
Net earnings $ 15,832 $ 6,517
Items not involving cash:
Depreciation 8,272 5,087
Gain on disposal of capital assets (93) (8)
Deferred income tax 5,820 5,579
Cash flow from operations 29,831 17,175
Increase in non-cash working capital 17,948 6,759
47,779 23,934
Financing:
Increase in long-term debt 15,314 20,759
Repayment of long-term debt (5,335) (2,422)
Issuance of common shares 30,591 2,144
Share issuance costs (2,356) (87)
Issuance of performance shares - 12
Increase in other long-term assets (4,195) -
Decrease in obligations under capital lease (96) (75)
33,923 20,331
Investments:
Aircraft additions (39,318) (42,717)
Other capital asset additions (5,350) (4,933)
Other capital asset disposals 206 99
(44,462) (47,551)
Net change in cash 37,240 (3,286)
Cash, beginning of year 13,500 16,786
Cash, end of year $ 50,740 $ 13,500
Cash is defined as cash and short-term investments.
See accompanying notes to financial statements.
17
WestJet Airlines 1999 Annual Report
Gareth, our Vice President of Technical Services.