ST WestJet Airlines - Exhibit 1 CONDENSED BALANCE SHEETS...

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Unformatted text preview: Exhibit 1 CONDENSED BALANCE SHEETS (MILLIONS)* ASSETS Southwest Airlines Continental Airlines Lufthansa** Singapore Airlines** Air Canada** WestJet Airlines** 2008 2007 2008 2007 2008 2007 2009 2008 2008 2007 2008 2007 Cash & marketable securities 1803 2779 2643 2803 3278 3607 4504 5583 1005 1239 820 654 Accounts Receivable 209 279 453 606 3024 3347 1486 2044 702 750 17 15 Inventories 203 259 235 271 581 511 503 508 97 112 17 10 Other current assets 678 1126 1016 881 550 779 344 178 599 377 72 39 Total current assets 2893 4443 4347 4561 7433 8244 6837 8313 2403 2478 926 718 Net Plant, Property & Equipment 11040 10874 7327 6558 11364 10739 13776 16474 7469 7919 2282 2213 Other long-term assets 375 1455 1012 986 3611 3337 4205 1728 1492 1440 71 53 Total long-term assets 11415 12329 8339 7544 14975 14076 17981 18202 8961 9359 2353 2266 Total Assets 14308 16772 12686 12105 22408 22320 24818 26515 11364 11837 3279 2984 LIABILITIES Current Debt 163 41 519 652 420 247 309 58 663 413 166 173 Accounts payable & accrued exps 1680 3866 2074 1830 2359 2576 3582 3368 1440 1243 249 168 Other current liabilites 963 931 1881 1967 5812 5448 2028 2532 1753 1300 324 249 Total current liabilites 2806 4838 4474 4449 8591 8271 5919 5958 3856 2956 739 590 Long-term debt 3498 2050 5371 4366 3161 3098 1514 1599 4691 4006 1187 1258 Other long-term liabilities 3051 2943 2736 1740 3737 4051 2895 3329 2055 2432 267 186 Total long-term liabilites 6549 4993 8107 6106 6898 7149 4409 4928 6746 6438 1454 1444 Total liabilities 9355 9831 12581 10555 15489 15420 10328 10886 10602 9394 2193 2034 SHAREHOLDER'S EQUITY Common equity & additional paid in capital 2023 2015 1998 1607 1172 1172 1675 340 2071 2065 60 58 Retained earnings and other equity 2930 4926-1893-57 5747 5728 12815 15289-1309 378 1026 892 Total equity 4953 6941 105 1550 6919 6900 14490 15629 762 2443 1086 950 Total liabilities & equity 14308 16772 12686 12105 22408 22320 24818 26515 11364 11837 3279 2984 Source: Mergent Online, SEC filings *The fiscal year end for all airlines is December 31st with the exception of Singapore Airlines, whose fiscal year ends March 31st. **Lufthansa's financials are in Euros. For 2007 and 2008, the year-end Euro to USD exchange rates were 0.684 and 0.718 respectively. Singapore Airlines' financials are in Singapore Dollars (SGD). For 2007 and 2008, the year-end SGD to USD exchange rates were 1.379 and 1.52, respectively. Singapore Airlines' year end is March 31st....
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ST WestJet Airlines - Exhibit 1 CONDENSED BALANCE SHEETS...

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