Westjet 2011 Annual Report Download - page 107

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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)
│
22. Transition to IFRS (continued)
Reconciliation of Consolidated Statement of Financial Position as at January 1, 2010
Canadian GAAP
balance IAS 16 IAS 37 IAS 39 Other
IFRS
balance
Assets
Current assets:
Cash and cash equivalents 994,989 – – – – 994,989
Restricted cash 10,192 – – – – 10,192
Accounts receivable 27,654 – – – – 27,654
Prepaid expenses, deposits and other 56,239 – 8,629 – – 64,868
Inventory 26,048 – – –
5,457 31,505
Deferred income tax 2,560 – – –
(2,560) –
1,117,682 – 8,629 – 2,897 1,129,208
Non-current assets:
Property and equipment 2,307,566 (199,215) – – – 2,108,351
Intangible assets 14,087 – – – – 14,087
Other assets 54,367 – 44,084 – – 98,451
Total assets 3,493,702 (199,215) 52,713 – 2,897 3,350,097
Liabilities and shareholders’ equity
Current liabilities:
Accounts payable and accrued liabilities 220,042 – 8,031 838
– 228,911
Advance ticket sales 297,720 – – –
– 297,720
Non-refundable guest credits 64,506 – (1,342) – – 63,164
Current portion of long-term debt 171,223 – – (6,112)
– 165,111
Current portion of obligations under finance leases 744 – – – – 744
754,235 – 6,689 (5,274) – 755,650
Non-current liabilities:
Maintenance provisions – – 97,722 – – 97,722
Long-term debt 1,048,554 – – (20,389) – 1,028,165
Obligations under finance leases 3,358 – – – – 3,358
Other liabilities 19,628 (4,926) – –
(5,185) 9,517
Deferred income tax 278,999 (49,318) (13,093) 6,644
277 223,509
Total liabilities 2,104,774 (54,244) 91,318 (19,019) (4,908) 2,117,921
Shareholders’ equity:
Share capital 633,075 – – –
– 633,075
Equity reserves 71,503 – – –
4,363 75,866
Hedge reserves (14,852) – – –
– (14,852)
Retained earnings 699,202 (144,971) (38,605) 19,019
3,442 538,087
Total shareholders’ equity 1,388,928 (144,971) (38,605) 19,019 7,805 1,232,176
Total liabilities and shareholders’ equity 3,493,702 (199,215) 52,713 – 2,897 3,350,097
WestJet Annual Report 2011 107