Westjet 2011 Annual Report Download - page 111

Download and view the complete annual report

Please find page 111 of the 2011 Westjet annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 111

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111

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 Comprehensive Income for the year ended December 31, 2010
Canadian GAAP
balance Adjustments
IFRS
balance
Net earnings 136,720 (46,523) 90,197
Other comprehensive income, net of tax:
Amortization of hedge settlements to aircraft leasing 1,400 − 1,400
Net unrealized loss on foreign exchange derivatives
under cash flow hedge accounting (i) (3,460) − (3,460)
Reclassification of net realized loss on foreign
exchange derivatives to net earnings (ii) 1,557 − 1,557
Net unrealized loss on fuel derivatives under cash
flow hedge accounting (iii) (1,778) − (1,778)
Reclassification of net realized loss on fuel derivatives
to net earnings (iv) 6,663 − 6,663
4,382 − 4,382
Total comprehensive income 141,102 (46,523) 94,579
(i) Net of income taxes of $1,224.
(ii) Net of income taxes of $(586).
(iii) Net of income taxes of $670.
(iv) Net of income taxes of $(2,509).
WestJet Annual Report 2011 111