Air Canada 2011 Annual Report Download - page 47

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2011 Management’s Discussion and Analysis
47
11. SELECTED ANNUAL INFORMATION
The following table provides selected annual information for Air Canada for the years 2009 through to 2011. The information
for 2009 is reported on a Canadian GAAP basis (prior to the adoption of IFRS), while the information for 2010 and 2011 is
reported on an IFRS basis. Accordingly, the financial information for 2009 is not directly comparable to subsequent periods.
(Canadian dollars in millions, except where indicated)
2011
IFRS
2010
IFRS
2009
GAAP
Operating revenues $11,612 $10,786 $9,739
Operating expenses 11,433 10,554 10,055
Operating income (loss) before exceptional item 179 232 (316)
Provision for cargo investigations, net(1) – 46 –
Operating income (loss) 179 278 (316)
Total non-operating income (expense), non-controlling interest,
and income taxes (429) (303) 292
Net loss $(249) $(24) $(24)
EBITDAR before a provision adjustment for cargo
investigations, net(1) (2) $ 1,242 $1,386 $679
EBITDAR(2) $ 1,242 $1,432 $679
Net loss per share – Basic $(0.92) $(0.12) $(0.18)
Net loss per share – Diluted $(0.92) $(0.12) $(0.18)
Cash, cash equivalents and short-term investments $2,099 $2,192 $1,407
Total assets $9,633 $10,153 $10,406
Total long-term liabilities(3) $ 10,910 $ 8,884 $6,140
Total liabilities $13,639 $11,441 $8,759
(1) In the first quarter of 2008, Air Canada recorded a provision for cargo investigations of $125 million. In the fourth quarter of 2010, Air Canada recorded a net reduction of
$46 million to this provision.
(2) See section 20 “Non-GAAP Financial Measures” in this MD&A for a reconciliation of EBITDAR before a provision adjustment for cargo investigations to operating income
(loss) and EBITDAR to operating income (loss).
(3) Total long-term liabilities include long-term debt (including current portion) and capital leases, pension and other benefit liabilities, maintenance provisions and other
long-term liabilities.