Air Canada 2014 Annual Report Download - page 89
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89
2014 Consolidated Financial Statements and Notes
CONSOLIDATED STATEMENT OF OPERATIONS
FOR THE YEAR ENDED DECEMBER 31 CANADIAN DOLLARS
IN MILLIONS EXCEPT PER SHARE FIGURES 2014 2013
OPERATING REVENUES
Passenger Note 20 $ 11,804 $ 11,021
Cargo Note 20 502 474
Other 966 887
TOTAL REVENUES 13,272 12,382
OPERATING EXPENSES
Aircraft fuel 3,747 3,534
Wages, salaries and benefits 2,282 2,247
Benefit plan amendments Note 9 -(82)
Capacity purchase agreements 1,182 1,123
Airport and navigation fees 1,031 983
Aircraft maintenance 728 632
Sales and distribution costs 672 613
Depreciation, amortization and impairment 543 578
Ground package costs 377 327
Aircraft rent 313 318
Food, beverages and supplies 309 289
Communications and information technology 204 190
Other 1,069 1,011
TOTAL OPERATING EXPENSES 12,457 11,763
OPERATING INCOME 815 619
NON-OPERATING INCOME (EXPENSE)
Foreign exchange loss (307) (120)
Interest income 39 32
Interest expense (322) (397)
Interest capitalized 30 46
Net financing expense relating to employee benefits Note 9 (134) (208)
Fuel and other derivatives Note 17 (1) 37
Other (15) (7)
TOTAL NON-OPERATING EXPENSE (710) (617)
INCOME BEFORE INCOME TAXES 105 2
Income taxes Note 12 - 8
NET INCOME $ 105 $ 10
NET INCOME ATTRIBUTABLE TO:
Shareholders of Air Canada 100 6
Non-controlling interests 5 4
NET INCOME $ 105 $ 10
NET INCOME PER SHARE ATTRIBUTABLE TO
SHAREHOLDERS OF AIR CANADA Note 15
Basic earnings per share 0.35 0.02
Diluted earnings per share 0.34 0.02
The accompanying notes are an integral part of the consolidated financial statements.