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532006 | WestJet Annual Report
9. Cash fl ow information:
(a) Change in non-cash working capital from operations:
2006 2005
Increase (decrease) in accounts receivable $ (4,623) $ 4,792
Decrease (increase) income taxes recoverable 89 (11,055)
Decrease (increase) in prepaid expenses and deposits 1,019 (6,253)
Increase in inventory (1,941) (877)
Increase in accounts payable and accrued liabilities 21,105 8,167
Increase in advance ticket sales 21,293 45,459
Increase in non-refundable guest credits 7,694 6,110
Other non-cash items (929) (53)
$ 43,707 $ 46,290
(b) Supplemental cash fl ow information:
As at December 31, 2006, cash and cash equivalents includes short-term investments of $316,951,000
(2005 – $219,030,000).
As at December 31, 2006, the Corporation had US-dollar cash and cash equivalents totalling US $32,019,000
(2005 – US $35,453,000).
As at December 31, 2006, cash and cash equivalents include US $5,279,000 (2005 – $6,470,000) and CAD
$1,858,000 (2005 – $NIL) of restricted cash. US $186,000 (2005 – US $153,000) is cash not yet remitted for
passenger facility charges.
Cash interest paid during the year was $67,077,000 (2005 – $54,688,000).
Cash taxes paid during the year were $3,081,000 (2005 – $10,151,000).
10. Commitments and contingencies:
(a) Aircraft:
The Corporation has remaining commitments to purchase six 737-700s and one 737-800 to be delivered
over the course of 2007 and 2008.
The Corporation has an agreement with Live TV to install, maintain and operate live satellite television on
all aircraft with the ability to cancel installing the system on future aircraft deliveries, subject to certain
applicable penalties. This agreement contains an exclusivity clause which expires on July 1, 2009.
The Corporation has signed an agreement with Bell ExpressVu for a seven-year term to provide satellite
programming. The agreement commenced in 2004 and can be renewed for an additional fi ve years.
The remaining estimated amounts to be paid in deposits and purchase prices in US dollars relating to the
purchases of the remaining aircraft, live satellite television systems and winglets are as follows:
2007 $ 153,255
2008 101,330
2009 5,343
$ 259,928