Air Canada 2010 Annual Report Download - page 41

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2010 Management’s Discussion and Analysis
41
9.7 CONTRACTUAL OBLIGATIONS
The table below provides Air Canada’s current contractual obligations for 2011, for the next four years and after 2015. The
table also includes the impact of the loan facility from GE Japan assuming the full commitment will be drawn upon. As of
this date, the loan facility was drawn upon in respect of the refinancing of four of the 16 aircraft. Refer to section 9.3 of
this MD&A for additional information.
(Canadian dollars in millions) 2011 2012 2013 2014 2015 Thereafter Total
Principal
Long-term debt obligations $ 514 $ 293 $ 363 $ 200 $ 1,103 $ 1,307 $ 3,780
Capital lease obligations 96 105 94 90 144 226 755
610 398 457 290 1,247 1,533 4,535
Interest
Long-term debt obligations 218 199 186 171 126 103 1,003
Capital lease obligations 68 59 49 39 29 85 329
286 258 235 210 155 188 1,332
Total long-term debt, capital
leases and interest repayment
obligations (1)
896 656 692 500 1,402 1,721 5,867
Operating lease obligations (2) 382 355 333 266 210 671 2,217
Committed capital expenditures (3) 86 112 700 932 624 2,050 4,504
Total contractual obligations (4)(5) 1,364 1,123 1,725 1,698 2,236 4,442 12,588
Net impact of GE Japan loan facility (100) (9) 34 33 26 57 41
Total obligations, including net
impact of GE Japan loan facility
(4)(5)
$ 1,264 $ 1,114 $ 1,759 $ 1,731 $ 2,262 $ 4,499 $ 12,629
(1) The interest repayment obligations relate to long-term debt, variable interest entities’ debt consolidated under AcG-15 and capital leases.
(2) The operating lease obligations above mainly relate to U.S. dollar aircraft operating leases.
(3) The committed capital expenditures above mainly relate to U.S. dollar aircraft-related expenditures. These expenditures also include purchases relating to system
development costs, facilities and leasehold improvements.
(4) Total contractual obligations exclude commitments for goods and services required in the ordinary course of business. Also excluded are other long-term liabilities mainly
due to reasons of uncertainty of timing of cash flows and items which are non-cash in nature.
(5) The table above excludes the future minimum non-cancelable commitment under the Jazz CPA of $749 million for 2011, the future minimum non-cancelable
commitment under capacity purchase agreements with other regional carriers of $29 million for 2011 and the minimum annual commitment to purchase Aeroplan®
Miles from Aeroplan of $216 million for 2011. Future commitments for 2012 and beyond are not yet determinable.