Air Canada 2014 Annual Report Download - page 126

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126126 2014 Annual Report
17. FINANCIAL INSTRUMENTS AND RISK MANAGEMENT
SUMMARY OF FINANCIAL INSTRUMENTS
CARRYING AMOUNTS
DECEMBER 31, 2014
FINANCIAL INSTRUMENTS CLASSIFICATION
DECEMBER 31,
2013
HELD FOR
TRADING
LOANS AND
RECEIVABLES
LIABILITIES AT
AMORTIZED
COST TOTAL
FINANCIAL ASSETS
Cash and cash equivalents $ 661 $ - $ - $ 661 $ 750
Short-term investments 1,614 - - 1,614 1,458
Restricted cash 89 - - 89 92
Accounts receivable -656 -656 589
Deposits and other assets
Restricted cash 192 - - 192 190
Aircraft related and other deposits -135 -135 122
Prepayment option on senior secured notes 4 - - 42
Derivative instruments
Fuel derivatives 4 - - 420
Share forward contracts 85 - - 85 56
Foreign exchange derivatives 30 - - 30 13
Interest rate swaps 8 - - 810
$ 2,687 $ 791 $ - $ 3,478 $ 3,302
FINANCIAL LIABILITIES
Accounts payable $ - $ - $ 1,165 $ 1,165 $ 1,026
Current portion of long-term debt and
finance leases - - 484 484 374
Long-term debt and finance leases - - 4,732 4,732 3,959
$ - $ - $ 6,381 $ 6,381 $ 5,359
There have been no changes in classification of financial instruments since December 31, 2013.
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.