Air Canada 2011 Annual Report Download - page 80

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2011 Air Canada Annual Report
80
CONSOLIDATED STATEMENT OF CASH FLOW
For the year ended December 31 2011 2010
(Canadian dollars in millions)
Cash flows from (used for)
Operating
Net loss $(249) $ (24)
Adjustments to reconcile to net cash from operations
Depreciation, amortization and impairment 728 801
Foreign exchange (gain) loss 79 (212)
Deferred income taxes – 3
Excess of employee benefit funding over expense (153) (24)
Fuel and other derivatives Note 18 36 102
Fuel hedge collateral deposits, net Note 18 – 43
Provision for cargo investigations, net Note 19 (29) (46)
Change in maintenance provisions 94 57
Changes in non-cash working capital balances 60 139
Other 20 94
586 933
Financing
Proceeds from borrowings Note 9 232 1,175
Shares issued Note 14 – 2
Reduction of long-term debt and finance lease obligations (608) (1,159)
Distributions related to aircraft special purpose leasing entities (52) (11)
(428) 7
Investing
Short-term investments (149) (810)
Additions to property, equipment and intangible assets (220) (187)
Proceeds from sale of assets Note 5 6 29
Proceeds from sale-leaseback transactions Note 5 – 20
Reduction to Aveos letter of credit Note 20 – 23
Other (37) (40)
(400) (965)
Decrease in cash and cash equivalents (242) (25)
Cash and cash equivalents, beginning of year 1,090 1,115
Cash and cash equivalents, end of year $848 $ 1,090
The accompanying notes are an integral part of the consolidated financial statements.