Westjet 2011 Annual Report Download - page 101

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Notes to Consolidated Financial Statements
For the years ended December 31, 2011 and 2010
(Stated in thousands of Canadian dollars, except share and per share amounts)
│
20. Additional financial information
(a) Assets
Note December 31
2011 December 31
2010 January 1
2010
Accounts receivable (i):
Trade 19,193 12,620 15,940
Industry
15,665 5,242 11,384
Other
1,632 2,024 2,698
Allowance (ii)
(2,368) (2,368) (2,368)
34,122 17,518 27,654
Prepaid expenses, deposits and other:
Prepaid expenses 27,288 9,082 29,797
Short-term deposits (iii)
27,322 26,892 26,113
Maintenance reserves – current portion – 12,045 8,629
Derivatives 17 12,273 5,689 276
Other
53 53 53
66,936 53,761 64,868
Inventory:
Fuel 21,479 17,967 24,777
Aircraft expendables 7,525 5,914 5,457
De-icing fluid 240 537 533
Other
2,451 1,677 738
31,695 26,095 31,505
Other Assets:
Aircraft deposits (iv) 45,515 45,268 50,975
Maintenance reserves – long term 49,655 41,736 44,084
Other
8,789 9,163 3,392
103,959 96,167 98,451
(i) Trade receivables relate to day-to-day operations. Industry receivables include receivables relating to travel agents, interline agreements with other
airlines and partnerships. All significant services and counterparties are reviewed and approved for credit on a regular basis. Trade receivables are
generally settled in less than 30 days. Industry receivables are generally settled within 30 to 60 days.
(ii) The Corporation recorded a bad debt provision in 2009 in relation to its cargo operations. There were no new provisions recorded in 2011 or 2010.
(iii) Short-term deposits include deposits relating to aircraft fuel, airport operations and other operating costs.
(iv) 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.
WestJet Annual Report 2011 101