Air Canada 2010 Annual Report Download - page 128

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2010 Air Canada Annual Report
128
15. FINANCIAL INSTRUMENTS AND RISK MANAGEMENT
Summary of Financial Instruments
 Carrying Amounts
December 31, 2010
December 31,
2009
Financial instruments classification
Held for
trading
Held to
maturity
Loans and
receivables
Liabilities at
amortized
cost Total
Financial Assets
Cash and cash equivalents $ 1,090 $ - $ - $ - $ 1,090 $ 1,115
Short-term investments 1,102 - - - 1,102 292
Restricted cash 80 - - - 80 78
Accounts receivable - - 641 - 641 701
Collateral deposits for fuel derivatives - - - - - 43
Deposits and other assets
Restricted cash 130 - - - 130 121
Asset backed commercial paper 29 - - - 29 29
Aircraft related and other deposits - 185 - - 185 256
Derivative instruments
Fuel derivatives 33 - - - 33 -
Share forward contracts 9 - - - 9 -
Interest rate swaps 13 - - - 13 11
$ 2,486 $ 185 $ 641 $ - $ 3,312 $ 2,646
Financial Liabilities
Accounts payable $ - $ - $ - $ 1,179 $ 1,179 $ 1,215
Current portion of long-term debt
and capital leases - - - 505 505 468
Long-term debt and capital leases - - - 3,952 3,952 4,054
Derivative instruments
Fuel derivatives - - - - - 31
Foreign exchange derivatives 3 - - - 3 4
$ 3 $ - $ - $ 5,636 $ 5,639 $ 5,772
There have been no changes in classification of financial instruments since December 31, 2009.
For cash flow purposes, the Corporation may settle, from time to time, certain 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.