Westjet 2015 Annual Report Download - page 67

Download and view the complete annual report

Please find page 67 of the 2015 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 101

  • 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

WestJet Annual Report 2015 | 65
Consolidated Statement of Cash Flows
For the years ended December 31
(Stated in thousands of Canadian dollars)
Note
2015
2014
Operating activities:
Net earnings
367,530
283,957
Items not involving cash:
Depreciation and amortization
264,921
226,740
Change in maintenance provisions
35,786
8,413
Change in other liabilities
(3,192)
(529)
Amortization of transaction costs
4,503
5,015
Amortization of hedge settlements
1,390
1,400
Gain on derivatives
(827)
−
Loss on disposal of property and equipment
1,860
48,332
Share-based payment expense
11
17,254
18,626
Deferred income tax expense (recovery)
28,789
(8,171)
Unrealized foreign exchange gain
(938)
(10,634)
Change in non-cash working capital
199,706
21,349
Change in restricted cash
(10,424)
(43)
Change in other assets
(15,912)
(6,833)
Purchase of shares pursuant to compensation plans
(14,005)
(10,989)
876,441
576,633
Investing activities:
Aircraft additions
(841,491)
(694,200)
Aircraft disposals
83,348
75,655
Other property and equipment and intangible additions
(64,789)
(46,586)
(822,932)
(665,131)
Financing activities:
Increase in long-term debt
153,112
613,885
Repayment of long-term debt
(171,490)
(308,588)
Shares repurchased
(123,813)
(39,431)
Dividends paid
12
(69,711)
(61,313)
Issuance of shares pursuant to compensation plans
156
96
Cash interest paid
(47,305)
(39,507)
Change in non-cash working capital
21
4,866
(259,030)
170,008
Cash flow from operating, investing and financing activities
(205,521)
81,510
Effect of foreign exchange on cash and cash equivalents
31,247
20,556
Net change in cash and cash equivalents
(174,274)
102,066
Cash and cash equivalents, beginning of period
1,358,071
1,256,005
Cash and cash equivalents, end of period
1,183,797
1,358,071
Supplemental disclosure of operating cash flows
Cash interest received
16,349
17,243
Cash taxes paid, net
(114,752)
(204,489)
The accompanying notes are an integral part of the consolidated financial statements.