Air Canada 2011 Annual Report Download - page 139

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2011 Consolidated Financial Statements and Notes
139
Reconciliations
A reconciliation of how the transition from Canadian GAAP to IFRS has affected the equity of the Corporation, its financial
performance and cash flows is set out in the following tables and the notes that accompany the tables.
Reconciliation of equity as previously reported under Canadian GAAP to IFRS
(Canadian dollars in millions) December 31, 2010 January 1, 2010
Non-controlling interest
Balance in accordance with Canadian GAAP $ – $–
Reclassification of non-controlling interest to equity Note i 169 201
Consolidation of special purpose entities Note i (23) (53)
Non-controlling interest in accordance with IFRS 146 148
Share capital
Balance in accordance with Canadian GAAP 534 532
Reclassification of 2004 fresh start reporting adjustment from the deficit Note v 312 312
Share capital in accordance with IFRS 846 844
Contributed surplus
Balance in accordance with Canadian GAAP 1,826 1,825
Reclassification of related party transactions to the deficit Note v (1,747) (1,747)
Reclassification of warrants to the deficit Note v (25) (25)
Contributed surplus in accordance with IFRS 54 53
Deficit
Balance in accordance with Canadian GAAP (620) (727)
Deferred tax adjustment Note v 49 –
Aircraft fair value and consolidation adjustments Note i & iii (338) (295)
Recognition of deferred gains on sale and leaseback transactions Note iv 62 69
Pension and other employee future benefits Note ii (2,877) (2,777)
Defined benefit plan gains Note ii 580 –
Intangible assets and goodwill adjustment Note v (230) (236)
Recognition of additional provisions Note vi (420) (375)
Reclassification of 2004 fresh start reporting adjustment to share capital Note v (312) (312)
Reclassification of related party transactions and warrants from contributed surplus Note v 1,772 1,772
Deficit in accordance with IFRS (2,334) (2,881)
Accumulated other comprehensive loss
Balance in accordance with Canadian GAAP – (184)
Accumulated other comprehensive loss in accordance with IFRS – (184)
Total deficit and accumulated other comprehensive loss in accordance with IFRS (2,334) (3,065)
Total equity in accordance with IFRS $ (1,288) $(2,020)