Air Canada 2013 Annual Report Download - page 89

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2013 Consolidated Financial Statements and Notes
89
CONSOLIDATED STATEMENT OF CASH FLOW
For the year ended December 31 2013 2012
(Canadian dollars in millions)
Cash flows from (used for)
Operating
Net income (loss) $ 10 $(136)
Adjustments to reconcile to net cash from operations
Depreciation, amortization and impairment 578 669
Foreign exchange (gain) loss Note 17 200 (96)
Employee benefit funding (greater than) less than expense (3) 76
Benefit plan amendments Note 9 (82) (127)
Fuel and other derivatives Note 17 (33) (36)
Loss on investments in Aveos Note 19 – 65
Discontinued operations – Aveos Note 19 (29) 29
Change in maintenance provisions 29 (2)
Changes in non-cash working capital balances 33 220
Provision for cargo investigations Note 18 – (8)
Other 28 (11)
Net cash flows from operating activities 731 643
Financing
Proceeds from borrowings Note 8 1,973 132
Reduction of long-term debt and finance lease obligations Note 8 (1,646) (442)
Issue of common shares, net 14 –
Shares purchased for cancellation – (5)
Distributions related to aircraft special purpose leasing entities – (16)
Other (15) –
Net cash flows from (used in) financing activities 326 (331)
Investing
Short-term investments (210) 27
Additions to property, equipment and intangible assets (962) (444)
Proceeds from sale of assets 70 50
Other 41 32
Net cash flows used in investing activities (1,061) (335)
Decrease in cash and cash equivalents (4) (23)
Cash and cash equivalents, beginning of year 754 777
Cash and cash equivalents, end of year $ 750 $754
The accompanying notes are an integral part of the consolidated financial statements.