Air Canada 2011 Annual Report Download - page 121

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2011 Consolidated Financial Statements and Notes
121
18. FINANCIAL INSTRUMENTS AND RISK MANAGEMENT
Summary of Financial Instruments
Carrying Amounts
December 31, 2011
December 31, 2010
Financial instruments classification
Held for
trading
Loans and
receivables
Available
for sale
Liabilities at
amortized
cost
Total
Financial Assets
Cash and cash equivalents $848 $– – $– $ 848 $ 1,090
Short–term investments 1,251 – – – 1,251 1,102
Restricted cash 76 – – – 76 80
Accounts receivable – 712 – – 712 641
Deposits and other assets
Restricted cash 182 – – – 182 140
Asset backed commercial paper 24 – – – 24 29
Aircraft related and other deposits – 182 – – 182 175
Investment in Aveos – – 51 – 51 51
Derivative instruments
Fuel derivatives 11 – – – 11 33
Share forward contracts 5 – – – 5 9
Foreign exchange derivatives 5 – – – 5 –
Interest rate swaps 15 – – – 15 13
$2,417 $894 $51 $– $ 3,362 $ 3,363
Financial Liabilities
Accounts payable $– $– – $993 $ 993 $ 1,023
Current portion of long–term debt and
finance leases – – – 424 424 567
Long–term debt and finance leases – – – 3,906 3,906 4,028
Derivative instruments
Interest rate swaps 13 – – – 13 –
Foreign exchange derivatives – – – – – 3
$13 $– $– $5,323 $ 5,336 $ 5,621
There have been no changes in classification of financial instruments since December 31, 2010.
For cash flow purposes, the Corporation may settle, from time to time, certain cash equivalents and 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.