Air Canada 2013 Annual Report Download - page 133
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2013 Consolidated Financial Statements and Notes
133
17. FINANCIAL INSTRUMENTS AND RISK MANAGEMENT
Summary of Financial Instruments
Carrying Amounts
December 31, 2013
December 31, 2012
Financial instruments classification
Held for trading Loans and
receivables
Liabilities at
amortized cost Total
Financial Assets
Cash and cash equivalents $750 $– $– $ 750 $ 754
Short-term investments 1,458 – – 1,458 1,219
Restricted cash 92 – – 92 96
Accounts receivable – 589 – 589 550
Deposits and other assets
Restricted cash 190 – – 190 188
Aircraft related and other deposits – 122 – 122 159
Prepayment option on senior secured
notes 2 – – 2 15
Derivative instruments
Fuel derivatives 20 – – 20 16
Share forward contracts 56 – – 56 10
Foreign exchange derivatives 13 – – 13 –
Interest rate swaps 10 – – 10 13
$ 2,591 $711 $– $ 3,302 $ 3,020
Financial Liabilities
Accounts payable $– $– $1,026 $ 1,026 $ 1,028
Current portion of long-term debt and
finance leases – – 374 374 499
Long-term debt and finance leases – – 3,959 3,959 3,259
$ – $– $5,359 $ 5,359 $ 4,786
There have been no changes in classification of financial instruments since December 31, 2012.
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.
Summary of Gain (loss) on Financial Instruments Recorded at Fair Value
2013 2012
Fuel derivatives $ (6) $ (43)
Share forward contracts 42 5
Prepayment option on senior secured notes 2 15
Interest rate swaps (1) (1)
Other – 4
Gain (loss) on financial instruments recorded at fair value $ 37 $ (20)