Table 4
Balance sheet, 2007 and 2008

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Balance sheet, 2007 and 2008
  Levels I and II Level III Levels I to III
2007 2008 Change from  2007 to 2008 2007 2008 Change from  2007 to 2008 2007 2008 Change from  2007 to 2008
  thousands of dollars percent thousands of dollars percent thousands of dollars percent
Assets  
Current assets 2,830,252 3,496,670 23.5 353,512 364,030 3.0 3,183,764 3,860,700 21.3
Investments and special funds 3,074,704 2,429,331 -21.0 73,024 64,209 -12.1 3,147,728 2,493,540 -20.8
Operating property and equipment 10,648,059 11,564,474 8.6 894,834 942,277 5.3 11,542,894 12,506,751 8.4
Less: accumulated depreciation 1,600,935 2,405,672 50.3 348,322 372,113 6.8 1,949,257 2,777,785 42.5
Non-operating property and equipment 170,589 241,863 41.8 52,419 59,989 14.4 223,008 301,852 35.4
Less: accumulated depreciation 65,032 101,530 56.1 21,691 24,391 12.4 86,722 125,921 45.2
Deferred charges 2 x x x x x x x x x
Total assets 15,057,638 15,225,136 1.1 1,003,777 1,034,001 3.0 16,061,414 16,259,137 1.2
Liabilities and capital  
Current liabilities 4,050,862 5,122,832 26.5 278,566 315,222 13.2 4,329,428 5,438,055 25.6
Advances from associated companies and/or shareholders 99,693 78,708 -21.0 51,615 50,980 -1.2 151,308 129,688 -14.3
Long-term debt and other non-current liabilities 5,509,986 5,946,652 7.9 301,371 272,857 -9.5 5,811,356 6,219,509 7.0
Non-current obligations under capital lease 1,508,705 1,723,789 14.3 63,684 53,770 -15.6 1,572,389 1,777,559 13.0
Deferred income taxes 3 x x x x x x x x x
Other deferred credits 3 x x x x x x x x x
Provisions for major overhauls 88,288 83,881 -5.0 21,643 26,177 20.9 109,931 110,059 0.1
Other provisions 4 x x x x x x x x x
Total liabilities 11,257,534 12,955,863 15.1 716,879 719,007 0.3 11,974,413 13,674,870 14.2
Shareholders equity (incorporated carriers)  
Number of carriers included 1 23 22 -4.3 92 88 -4.3 115 110 -4.3
Capital stock 2,692,560 2,716,120 0.9 123,819 127,427 2.9 2,816,379 2,843,547 1.0
Other paid-in capital 5 x x x x x x x x x
Retained earnings 1,063,397 194,806 -81.7 165,999 187,264 12.8 1,229,396 382,070 -68.9
Reserves 44,147 -641,653 ... -2,920 303 ... 41,227 -641,350 ...
Total shareholders equity 3,800,104 2,269,273 -40.3 286,898 314,993 9.8 4,087,002 2,584,267 -36.8
Total liabilities and capital 15,057,638 15,225,136 1.1 1,003,777 1,034,001 3.0 16,061,414 16,259,137 1.2
1 .
Figures expressed in full, not in thousands.
2.
For reasons of confidentiality, "deferred charges" are included with "investments and special funds".
3.
For reasons of confidentiality, "deferred income taxes" and "other deferred credits" are included with "non-current obligations under capital lease".
4.
For reasons of confidentiality, "other provisions" are included with "provisions for major overhauls".
5.
For reasons of confidentiality, "other paid-in capital" is included with "capital stock".
Note(s):
Level I air carriers. This includes every Canadian air carrier that, in each of the two calendar years immediately preceding the reporting year, transported at least 1 million revenue passengers, or at least 200 thousand tonnes of revenue goods.
Level II air carriers. This includes every Canadian air carrier that, in each of the two calendar years immediately preceding the reporting year, transported at least 100 thousand but fewer than 1 million revenue passengers, or at least 30 thousand but less than 200 thousand tonnes of revenue goods.
Level III air carriers. This includes every Canadian air carrier that, in each of the two calendar years immediately preceding the reporting year, realized annual gross revenues of at least 1 million dollars for the air services for which the air carrier held a licence.