Air Canada 2013 Annual Report Download - page 55

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2013 Management’s Discussion and Analysis
55
11. SELECTED ANNUAL INFORMATION
The following table provides selected annual information for Air Canada for the years 2011 through to 2013.
Full Year
(Canadian dollars in millions, except per share figures) 2013 2012 2011(1)
Operating revenues $12,382 $12,114 $11,612
Operating expenses(2) 11,763 11,672 11,433
Operating income 619 442 179
Total non-operating expense and income taxes(3) (609) (523) (428)
Net income (loss) from continuing operations 10 (81) (249)
Net loss from discontinued operations – Aveos – (55) –
Net income (loss) $10 $(136) $(249)
EBITDAR, excluding benefit plan amendments(2)(4) $ 1,433 $1,320 $1,242
EBITDAR(3) $ 1,515 $1,447 $1,242
Basic and diluted earnings (loss) per share from continuing
operations $0.02 $(0.31) $(0.92)
Basic and diluted loss per share from discontinued operations $– $(0.20) $–
Diluted earnings (loss) per share $0.02 $(0.51) $(0.92)
Cash, cash equivalents and short-term investments $2,208 $1,973 $2,099
Total assets $9,470 $8,847 $9,633
Total long-term liabilities(5) $ 8,051 $ 9,434 $10,910
Total liabilities $10,867 $12,194 $13,639
(1) 2011 has not been restated for accounting standard changes related to consolidation of special purpose entities and employee benefits, as described in Air Canada’s
audited consolidated financial statements and notes for 2013. The accounting changes were effective January 1, 2013 with retrospective adjustments as at January 1, 2012.
(2) In 2013, Air Canada recorded an operating expense reduction of $82 million related to changes to early retirement provisions in Air Canada’s defined benefit pension plans.
In 2012, Air Canada recorded an operating expense reduction of $127 million related to changes to the terms of the ACPA collective agreement pertaining to retirement
age.
(3) In 2012, Air Canada recorded a $65 million loss on its investment in Aveos’ parent holding company.
(4) EBITDAR (earnings before interest, taxes, depreciation, amortization, impairment and aircraft rent) is a non-GAAP financial measure. Refer to section 20 "Non-GAAP
Financial Measures" of this MD&A for additional information.
(5) Total long-term liabilities include long-term debt (including current portion) and finance leases, pension and other benefit liabilities, maintenance provisions and other
long-term liabilities.