Air Canada 2009 Annual Report Download - page 89

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Consolidated Financial Statements and Notes
89
CONSOLIDATED STATEMENT OF CASH FLOW
For the year ended December 31
(Canadian dollars in millions)
2009 2008
Cash fl ows from (used for)
Operating
Loss for the year $ (24) $ (1,025)
Adjustments to reconcile to net cash from operations
Depreciation and amortization 660 694
Loss on assets 95 34
Foreign exchange (gain) loss (633) 822
Future income taxes 2 23
Excess of employee future benefi t funding over expense (368) (316)
Provision for cargo investigations Note 17 - 125
Non-controlling interest 15 12
Fuel and other derivatives Note 15 41 (208)
Fuel hedge collateral deposits, net Note 15 268 (322)
Changes in non-cash working capital balances (234) 117
Other 11 (58)
(167) (102)
Financing
Borrowings Note 6 926 871
Shares issued under the public offering Note 11 230 -
Warrants issued under the public offering and credit facility Notes 6 & 11 26 -
Reduction of long-term debt and capital lease obligations (1,237) (992)
Other - 5
(55) (116)
Investing
Short-term investments 214 206
Additions to capital assets (232) (883)
Proceeds from contractual commitments Note 1C 230 -
Proceeds from sale of assets Note 3 103 38
Proceeds from sale-leaseback transactions Note 3 552 708
Funding of Aveos letter of credit Note 18 - 59
Other (29) 62
838 190
Increase (decrease) in cash and cash equivalents 616 (28)
Cash and cash equivalents, beginning of year 499 527
Cash and cash equivalents, end of year $ 1,115 $ 499
Cash and cash equivalents exclude Short-term investments of $292 as at December 31, 2009 (2008 - $506).
The accompanying notes are an integral part of the consolidated fi nancial statements.