Westjet 2009 Annual Report Download - page 109

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WestJet 2009 Annual Report 79
NOTES TO CONSOLIDATED
FINANCIAL STATEMENTS
For the years ended December 31, 2009 and 2008
(Stated in thousands of Canadian dollars, except share and per share data)
14. Additional fi nancial information
(a) Balance sheet
(i) Short-term deposits include deposits relating to aircraft fuel, airport operations and other operating costs.
(ii) Aircraft-related deposits include long-term deposits with lessors for the lease of aircraft and long-term US-dollar deposits, which relate to
purchased aircraft.
(iii) Deferred gains from the sale and leaseback of aircraft, net of amortization, which are being deferred and amortized over the lease terms
with the amortization included in aircraft leasing.
(iv) Included in other liabilities is an estimate pertaining to asset retirement obligations on its aircraft under operating leases. During the year
ended December 31, 2009, the Corporation increased the liability by $1,217 (2008 – $2,216), due to the addition of further leased aircraft
with $nil (2008 – $nil) incurred on the settlement of these obligations.
(v) Incentives received by the Corporation for entering into various leasing and maintenance contracts. Amounts are deferred and recognized
in net earnings on a straight-line basis over the term of the contract.
2009 2008
Restated
Prepaid expenses, deposits and other:
Prepaid expenses $ 29,797 $ 26,521
Short-term deposits (i) 23,439 18,761
Derivatives (note 13) 277 6,735
Other 2,726 1,266
$ 56,239 $ 53,283
Other assets:
Aircraft-related deposits (ii) $ 50,975 $ 68,492
Other 3,392 2,513
$ 54,367 $ 71,005
Other liabilities:
Deferred sale and leaseback (iii) $ 5,281 $ 5,270
Asset retirement obligations (iv) 4,926 3,508
Long-term fuel-derivative liability (note 13) — 14,487
Deferred contract incentives (v) 9,421 968
$ 19,628 $ 24,233