Westjet 2009 Annual Report Download - page 110

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80 WestJet 2009 Annual Report
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)
2009 2008
Restated
Net change in non-cash working capital from operations:
Increase in accounts receivable $ (11,365) $ (1,828)
Increase in prepaid expenses, deposits and other (2,691) (21,957)
Increase in inventory (9,014) (6,852)
Increase in accounts payable and accrued liabilities 15,926 43,373
Increase in advance ticket sales 35,008 56,425
Increase (decrease) in non-refundable guest credits (8,514) 18,881
Other non-cash items — (3,800)
$ 19,350 $ 84,242
14. Additional fi nancial information (continued)
(b) Supplementary cash fl ow information
During the year ended December 31, 2009, the Corporation entered into a capital lease for a fuel storage facility for a total obligation of
$3,400 (2008 - $nil).
(c) Accumulated other comprehensive loss
Amortization of
hedge settlements
Cash fl ow hedges–
foreign exchange
derivatives
Cash fl ow hedges–
fuel derivatives Total
Balance as at January 1, 2008 $ (12,020) $ 106 $ — $ (11,914)
Amortization of settlements 1,400 — — 1,400
Unrealized gain (loss) on derivatives — 10,321 (44,711) (34,390)
Tax on unrealized portion — (3,097) 13,086 9,989
Realized gain on derivatives — (4,554) — (4,554)
Tax on realized portion — 1,357 — 1,357
Balance as at December 31, 2008 (10,620) 4,133 (31,625) (38,112)
Amortization of settlements 1,400 — — 1,400
Unrealized gain (loss) on derivatives — (1,358) 9,587 8,229
Tax on unrealized portion — 447 (2,878) (2,431)
Realized (gain) loss on derivatives — (5,553) 28,411 22,858
Tax on realized portion — 1,576 (8,372) (6,796)
Balance as at December 31, 2009 $ (9,220) $ (755) $ (4,877) $ (14,852)