Air Canada 2014 Annual Report Download - page 58

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58 2014 Annual Report
11. SELECTED ANNUAL INFORMATION
The following table provides selected annual information for Air Canada for the years 2012 through to 2014.
CANADIAN DOLLARS IN MILLIONS,
EXCEPT PER SHARE FIGURES
FULL YEAR
2014 2013 2012
Operating revenues $ 13,272 $ 12,382 $ 12,114
Operating expenses (1)(2)(3) 12,457 11,763 11,672
OPERATING INCOME 815 619 442
Total non-operating expense and income taxes (4)(5) (710) (609) (523)
NET INCOME (LOSS) FROM CONTINUING OPERATIONS 105 10 (81)
NET LOSS FROM DISCONTINUED OPERATIONS – AVEOS - - (55)
NET INCOME (LOSS) $ 105 $ 10 $ (136)
EBITDAR, EXCLUDING THE IMPACT OF BENEFIT PLAN
AMENDMENTS (1)(6)
$ 1,671 $ 1,433 $ 1,320
EBITDAR (6) $ 1,671 $ 1,515 $ 1,447
ADJUSTED NET INCOME $ 531 $ 340 $ 55
BASIC EARNINGS (LOSS) PER SHARE FROM
CONTINUING OPERATIONS
$ 0.35 $ 0.02 $ (0.31)
DILUTED EARNINGS (LOSS) PER SHARE FROM
CONTINUING OPERATIONS
$ 0.34 $ 0.02 $ (0.31)
BASIC AND DILUTED LOSS PER SHARE FROM
DISCONTINUED OPERATIONS
$ - $ - $ (0.20)
DILUTED EARNINGS (LOSS) PER SHARE $ 0.34 $ 0.02 $ (0.51)
ADJUSTED NET INCOME PER DILUTED SHARE $ 1.81 $ 1.20 $ 0.20
CASH, CASH EQUIVALENTS AND SHORT-TERM
INVESTMENTS
$ 2,275 $ 2,208 $ 1,973
TOTAL ASSETS $ 10,648 $ 9,470 $ 8,847
TOTAL LONG-TERM LIABILITIES (7) $ 8,728 $ 8,051 $ 9,434
TOTAL LIABILITIES $ 11,781 $ 10,867 $ 12,194
1 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.
2 In 2014, one-time payments totaling $30 million were made to ACPA members under a collective agreement concluded in October 2014 and favourable tax-related provision
adjustments of $41 million.
3 In 2013, Air Canada recorded impairment charges amounting to $30 million.
4 In 2013, Air Canada recorded an interest charge of $95 million related to the purchase of its senior secured notes which were to become due in 2015 and 2016.
5 In 2012, Air Canada recorded a $65 million loss on its investment in Aveos’ parent holding company.
6 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.
7 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.