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WestJet 2012 Annual Report / 49
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ur aircraft ar
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ircraft. The co
1
5 years. Spar
e
he original p
u
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epreciated ov
e
ncluded in int
a
a
re carried at
c
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ive and 20 ye
a
u
seful lives are
E
xpense is rec
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(
ii) Maintenan
c
W
e have legal
r
elating to the
c
he lease term.
c
ost of the mai
he future cas
h
v
arious source
s
s
ervice provide
r
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e recognize
m
ime as well a
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ecorded as a
f
f
ree rate of ap
p
m
onths until c
a
(
iii) Fair value
E
stimates are
r
R
ewards. Esti
m
p
roportion of c
s
pecific redem
p
(
iv) Income ta
x
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urrent tax as
s
n
ext 12 month
s
c
arried back t
o
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ifferences bet
w
u
sing the tax r
a
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eferred tax a
d
eductible tem
p
ax credits to t
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nused tax cre
d
D
eferred tax
a
d
ifferences as
c
hanges to the
a
nd liabilities.
n
formation at
e
C
urrent and de
f
n
net earnings
.
e
depreciated
o
o
st to overhaul
e
engines are
d
u
rchase price.
e
r five to 25 y
e
a
ngible assets
a
c
ost less accu
m
a
rs. Expected
carried at cos
t
o
rded on the c
o
c
e provisions
obligations to
c
ondition of th
Estimates rel
a
ntenance, the
h
flows and th
e
s
including th
e
r
s, other vend
o
m
aintenance
e
s changes to
f
inance cost.
A
p
roximately 1.
1
a
sh outflow (2
0
of awards an
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equired in det
m
ates are als
o
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redits that wil
p
tion history a
n
x
es
s
ets and liabili
t
s
. A current ta
x
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recover curr
e
w
een the tax
a
a
tes that are
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ssets are only
p
orary differen
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e extent that
d
its.
a
ssets and lia
b
well as the f
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expected timi
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e closely m
o
e
ach reporting
f
erred tax ben
e
.
o
ver a term of
our engines,
a
d
epreciated ov
e
Buildings are
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ars.
a
re costs relat
e
m
ulated amorti
z
useful lives a
n
t
less any accu
o
nsolidated sta
o
adhere to ce
e aircraft whe
n
a
ted to the ma
point in time
a
e
lifespan of lif
e
e
lessor, curr
e
o
rs and compa
n
e
xpense in the
previously m
a
A
t December 3
1
6% (2011 – 1
0
11 – 43 mont
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d
breakage ass
o
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ermining the f
o
required in
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l ultimately b
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d future forec
a
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ies are recog
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asset is reco
g
e
nt tax of a
p
a
nd accountin
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e
xpected to a
p
y
recognized t
o
ces can be util
it is probable
b
ilities contai
n
u
ture tax rate
s
ng of reversal
s
o
nitor current
date.
e
fit or expens
e
20 years, wit
h
a
irframes and l
a
e
r a term of 2
0
depreciated
o
e
d to software
z
ation and are
n
d amortizatio
n
m
ulated impai
r
tement of ear
n
rtain mainten
a
n
it is returned
intenance pro
v
a
t which maint
e
e
-limited parts
.
e
nt maintenan
n
y-specific his
t
consolidated
s
a
de judgments
1, 2012, our
m
.20%) which i
s
h
s).
o
ciated with
W
f
air value of th
determining t
h
e
redeemed, c
o
a
sts of expect
e
n
ized based o
n
g
nized for a b
e
p
revious perio
d
g
bases of ass
e
p
ply in the per
i
o
the extent t
h
ized. A deferr
e
that future ta
x
n
estimates a
b
s
that will app
s
may have a
and potential
e
is recognized
h
residual valu
a
nding gear o
n
0
years, with
a
o
ver a term o
, trademarks
a
amortized on
a
n
methods ar
e
r
ment losses.
n
ings as depre
c
a
nce condition
s
to the lessor.
v
ision include t
h
e
nance is expe
.
These estima
ce schedules
t
ory and experi
s
tatement of
e
or estimates
.
m
aintenance p
r
s
equal to the
w
W
estJet Reward
s
e credits awar
h
e amount of
o
mmonly refer
r
e
d redemption.
n
amounts rec
e
e
nefit relating t
d
. Deferred ta
x
e
ts and liabiliti
e
i
od in which t
h
hat it is prob
a
e
d tax asset is
a
x
able profit wi
l
b
out the natu
r
ly to those di
f
significant im
p
changes to t
a
in the same p
e
s
es ranging be
t
n
owned aircra
f
a
residual valu
e
o
f 40 years a
n
a
nd landing rig
a
straight-line
e
reviewed an
n
c
iation and am
o
s
set out in o
To fulfill these
he likely utiliz
a
e
cted to occur,
a
tes are based
and fleet pla
n
i
ence.
e
arnings base
d
.
The unwindi
r
ovision is dis
c
w
eighted aver
a
s
r
ded for air tr
a
revenue to
b
red to as bre
a
e
ivable from o
t
o an unused t
a
x
assets and
l
e
s on the con
s
h
e deferred ta
x
a
ble that a ta
x
also recognize
d
ll available for
re and timing
f
ferences. Cha
p
act on the a
m
a
x law and b
a
e
riod as the r
e
s
t
ween $4.0 mi
ft is depreciat
e
e
equal to app
n
d ground pr
o
hts. Intangible
basis over the
n
ually. Intangi
b
o
rtization.
ur aircraft op
e
e
obligations, a
a
tion of the air
c
the discount r
a
on data and i
n
n
s, contracted
d
on aircraft u
s
ng of the dis
c
c
ounted using
a
ge remaining
a
vel and relate
d
b
e deferred f
o
a
kage. Breaka
g
o
r payable to
a
a
x loss or unu
s
l
iabilities are
r
s
olidated state
m
x
asset or liab
i
x
able profit w
i
d
for any unu
s
use against t
h
g
of future p
e
nges in tax l
a
m
ounts recorde
a
se our estim
a
e
lated transacti
s
llion and $6.0
e
d over a term
roximately 10
o
perty and eq
e
assets with d
e
ir respective u
s
b
le assets wit
h
e
rating lease
a
provision is
m
c
raft, the expe
a
te used to pr
e
n
formation ob
t
costs with
m
s
age and the
c
ounted prese
n
a weighted a
v
term of appro
x
d
rewards un
d
o
r these credi
t
g
e is based o
n
a
tax authority
s
ed tax credit
t
r
ecognized for
m
ent of finan
c
i
lity is expecte
d
i
ll be availabl
e
s
ed tax losses
a
h
e unused tax
e
rmanent and
a
ws and rates
e
d for deferred
a
te on the be
s
on or event is
million per
of eight to
per cent of
uipment is
e
finite lives
s
eful life of
h
indefinite
a
greements
m
ade during
cted future
e
sent value
t
ained from
m
aintenance
passage of
n
t value is
v
erage risk-
x
imately 38
d
er WestJet
t
s and the
n
company-
within the
t
hat can be
temporary
c
ial position
d to settle.
e
when the
a
nd unused
losses and
temporary
as well as
tax assets
s
t available
recognized