Westjet 2013 Annual Report Download - page 98

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WestJet Annual Report 2013 98
Notes to Consolidated Financial Statements
As at and for the years ended December 31, 2013 and 2012
(Stated in thousands of Canadian dollars, except percentage, ratio, share and per share amounts)
19. Additional financial information
(a) Assets
Note 2013 2012
Accounts receivable:
Trade and industry
(i)
43,198 37,633
Other 1,403 2,311
Allowance(ii)
(2,437)
(2,368)
42,164 37,576
Prepaid expenses, deposits and other:
Prepaid expenses
(iii)
43,628 35,608
Short-term deposits
(iv)
35,438 32,756
Maintenance reserves – current portion 9 49,810 32,586
Derivatives 16 4,187 800
Other 200 52
133,263 101,802
Inventory:
Fuel
24,365 23,101
Aircraft expendables 9,749 8,982
De-icing fluid 900 427
Other 1,708 3,085
36,722 35,595
Other Assets:
Aircraft deposits
(v)
47,615 44,540
Maintenance reserves – long term
9 11,851 21,277
Derivatives
16 4,103
Other(vi)
7,209 9,596
70,778 75,413
(i) Trade receivables include receivables relating to airport operations, fuel rebates, marketing programs and ancillary revenue products and services.
Industry receivables include receivables relating to travel agents, interline agreements with other airlines and partnerships. All significant counterparties
are reviewed and approved for credit on a regular basis. Trade receivables are generally settled in 30 to 60 days. Industry receivables are generally
settled in less than 30 days.
(ii) For the year ended December 31, 2013, there was $69 (2012 – $nil) in new allowances recorded. The remaining allowance was recorded in 2009
related to cargo operations.
(iii) Includes prepaid expenses for insurance, vacation package vendors and other operating costs
(iv) Includes deposits relating to aircraft fuel, airport operations, deposits on leased aircraft and other operating costs.
(v) Includes long-term deposits with lessors for leased aircraft.
(vi) Includes long-term deposits for airport operations.
(b) Liabilities
Note 2013 2012
Accounts payable and accrued liabilities:
Trade and industry 330,836 281,574
Taxes payable 109,674 101,379
WestJet Rewards 59,082 41,117
Derivatives 16 3,249 1,509
Other 40,326 34,424
543,167 460,003
Other current liabilities:
Advance ticket sales 551,022 
Non-refundable guest credits 46,975 
Other liabilities:
Deferred contract incentives(i) 8,834 9,646
Derivatives 16 268
8,834 9,914
(i) Deferred contract incentives relate to discounts received on aircraft related items as well as the net effect of rent free periods and cost escalations on
land leases. Incentives, rent free periods and cost escalations are amortized over the terms of the related contracts.
85 9 6
7 0 3)
4 1 73
46 0 6
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3 1 12
5 0 5
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