Air Canada 2013 Annual Report Download - page 87
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2013 Consolidated Financial Statements and Notes
87
CONSOLIDATED STATEMENT OF OPERATIONS
For the year ended December 31 2013 2012
(Canadian dollars in millions except per share figures)
Operating revenues
Passenger Note 20 $ 11,021 $10,737
Cargo Note 20 474 488
Other 887 889
Total revenues 12,382 12,114
Operating expenses
Aircraft fuel 3,534 3,561
Wages, salaries and benefits 2,247 2,110
Benefit plan amendments Note 9 (82) (127)
Capacity purchase agreements 1,123 1,072
Airport and navigation fees 983 992
Aircraft maintenance 632 672
Sales and distribution costs 613 603
Depreciation, amortization and impairment 578 669
Aircraft rent 318 336
Food, beverages and supplies 289 291
Communications and information technology 190 188
Other 1,338 1,305
Total operating expenses 11,763 11,672
Operating income 619 442
Non-operating income (expense)
Foreign exchange gain (loss) (120) 106
Interest income 32 37
Interest expense (397) (304)
Interest capitalized 46 18
Net financing expense relating to employee benefits Note 9 (208) (288)
Gain (loss) on financial instruments recorded at fair value Note 17 37 (20)
Loss on investments in Aveos Note 19 – (65)
Other (7) (6)
Total non-operating expense (617) (522)
Income (loss) before income taxes and discontinued operations 2 (80)
Income taxes Note 12 8 (1)
Net income (loss) from continuing operations $ 10 $(81)
Net loss from discontinued operations – Aveos Note 19 – (55)
Net income (loss) $ 10 $(136)
Net income (loss) attributable to:
Shareholders of Air Canada 6 (140)
Non-controlling interests 4 4
Net income (loss) $ 10 $(136)
Net income (loss) per share attributable to shareholders of Air Canada Note 15
Basic earnings (loss) per share from continuing operations $ 0.02 $(0.31)
Diluted earnings (loss) per share from continuing operations $ 0.02 $(0.31)
Basic and diluted loss per share from discontinued operations $ – $(0.20)
Diluted earnings (loss) per share $ 0.02 $(0.51)
The accompanying notes are an integral part of the consolidated financial statements.