Westjet 2004 Annual Report Download - page 44

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WESTJET ANNUAL REPORT 2004
44
Consolidated Balance Sheets
WESTJET AIRLINES LTD.
December 31, 2004 and 2003
(Stated in Thousands of Dollars)
2004 2003
Assets
Current assets:
Cash and cash equivalents $ 148,532 $ 241,384
Accounts receivable 12,814 11,781
Income taxes recoverable 2,854 –
Prepaid expenses and deposits 25,493 19,928
Inventory 5,382 3,764
195,075 276,857
Property and equipment (note 2) 1,601,546 1,140,226
Other assets (note 3) 80,733 59,775
$ 1,877,354 $ 1,476,858
Liabilities and Shareholders’ Equity
Current liabilities:
Accounts payable and accrued liabilities $ 91,885 $ 82,822
Income taxes payable – 9,820
Advance ticket sales 81,991 58,086
Non-refundable guest credits 26,704 21,718
Current portion of long-term debt (note 4) 97,305 59,334
Current portion of obligations under capital lease (note 6) 6,564 6,297
304,449 238,077
Long-term debt (note 4) 905,631 589,531
Obligations under capital lease (note 6) – 7,015
Long-term liabilities (note 5) 10,000 –
Future income tax (note 8) 67,382 61,423
1,287,462 896,046
Shareholders’ equity:
Share capital (note 7(b)) 390,469 376,081
Contributed surplus (note 7(g)) 21,977 –
Retained earnings 177,446 204,731
589,892 580,812
Subsequent events (note 7 and 9)
Commitments and contingencies (notes 6 and 9)
$ 1,877,354 $ 1,476,858
See accompanying notes to consolidated financial statements.
On behalf of the Board:
Clive Beddoe, Director Wilmot Matthews, Director