Air Canada 2014 Annual Report Download - page 91

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91
2014 Consolidated Financial Statements and Notes
CONSOLIDATED STATEMENT OF CASH FLOW
FOR THE YEAR ENDED DECEMBER 31
CANADIAN DOLLARS IN MILLIONS 2014 2013
CASH FLOWS FROM (USED FOR)
OPERATING
Net income $ 105 $ 10
Adjustments to reconcile to net cash from operations
Depreciation, amortization and impairment 543 578
Foreign exchange loss Note 17 338 200
Employee benefit funding greater than expense Note 9 (117) (3)
Benefit plan amendments Note 9 -(82)
Fuel and other derivatives Note 17 (12) (33)
Discontinued operations – Aveos Note 19 -(29)
Change in maintenance provisions 76 29
Changes in non-cash working capital balances 40 33
Other (32) 28
NET CASH FLOWS FROM OPERATING ACTIVITIES 941 731
FINANCING
Proceeds from borrowings Note 8 1,178 1,973
Reduction of long-term debt and finance lease obligations Note 8 (677) (1,646)
Issue of common shares, net 114
Other -(15)
NET CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES 502 326
INVESTING
Short-term investments (100) (210)
Additions to property, equipment and intangible assets (1,501) (962)
Proceeds from sale of assets 72 70
Other (3) 41
NET CASH FLOWS USED IN INVESTING ACTIVITIES (1,532) (1,061)
DECREASE IN CASH AND CASH EQUIVALENTS (89) (4)
Cash and cash equivalents, beginning of year 750 754
CASH AND CASH EQUIVALENTS, END OF YEAR $ 661 $ 750
The accompanying notes are an integral part of the consolidated financial statements.