Westjet 2012 Annual Report Download - page 63

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Consolidated Statement of Cash Flows
For the years ended December 31
(Stated in thousands of Canadian dollars)
Note
2012
2011
Operating activities:
Net earnings
242,392
Items not involving cash:
Depreciation and amortization
185,401
Change in long-term maintenance provisions
34,426
3522
Change in other liabilities
(383)
Amortization of hedge settlements
1,400
400
Loss on fuel derivatives
16
6,512
(Gain) loss on disposal of property and equipment
(469)
Share-based payment expense
12
12,815
Deferred income tax expense
31,607
Finance income
(18,391)
(15,987)
Finance cost
48,900
60,911
Unrealized foreign exchange (gain) loss
(1,487)
Change in non-cash working capital
173,563
89,739
Change in restricted cash
(3,282)
(19,758)
Change in other assets
(6,894)
(4,344)
Cash interest received
17,780
14,631
Cash taxes (paid) received
(950)
26
Purchase of shares pursuant to compensation plans
(1,306)
721,634
6460
Investing activities:
Aircraft additions
(218,116)
Other property and equipment and intangible additions
(51,191)
(269,307)
Financing activities:
Increase in long-term debt
72,995
Repayment of long-term debt
(162,678)
Decrease in obligations under finance leases
(75)
Shares repurchased
12
(112,065)
Dividends paid
13
(37,549)
Issuance of shares pursuant to compensation plans
198
34
Cash interest paid
(43,055)
(51,722)
Change in non-cash working capital
(5,825)
(2,084)
(288,054)
(362,675)
Cash flow from operating, investing and financing activities
164,273
Effect of foreign exchange on cash and cash equivalents
321
Net change in cash and cash equivalents
164,594
Cash and cash equivalents, beginning of year
1,243,605
Cash and cash equivalents, end of year
5
1,408,199
The accompanying notes are an integral part of the consolidated financial statements.
WestJet 2012 Annual Report
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