Westjet 2014 Annual Report Download - page 60

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WestJet Annual Report 2014 │ 58
Consolidated Statement of Changes in Equity
For the years ended December 31
(Stated in thousands of Canadian dollars)
Note 2014 2013
Share capital:
Balance, beginning of year 603,861 614,899
Issuance of shares pursuant to compensation plans 6,177 11,027
Shares repurchased (6,751) (22,065)
12 603,287 603,861
Equity reserves:
Balance, beginning of year 69,079 69,856
Share-based payment expense 12 18,626 14,533
Issuance of shares pursuant to compensation plans (12,611) (15,310)
75,094 69,079
Hedge reserves:
Balance, beginning of year
105
(5,746)
Other comprehensive income
(3,284)
5,851
(3,179) 105
Retained earnings:
Balance, beginning of year 916,795 793,296
Dividends declared 13 (61,313) (52,188)
Shares repurchased 12 (32,680) (90,297)
Purchase of shares pursuant to compensation plans
(4,459)
(2,738)
Net earnings 283,957 268,722
1,102,300
916,795
Total shareholders’ equity 1,777,502 1,589,840
The accompanying notes are an integral part of the consolidated financial statements.