2001 Annual Report - Edmonton International Airport

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STATEMENTS OF FINANCIAL POSITION(000’s of Dollars) • Years ended December 31, 2001 and 20002001 2000AssetsCurrent assets:Cash in interest bearing accounts $ 7,075 $ 74,631Short-term investments 73,938 –Accounts receivable [note 3(a)(v)] 9,280 9,161Consumable inventory 702 590Prepaid expenses and other 415 15491,410 84,536Interest bearing deposits [note 6(a)] 10,074 52,186Deferred financing costs [note 6(d)] 6,483 6,645Capital assets (note 4) 227,515 203,730$ 335,482 $ 347,097Liabilities and Equity in Capital AssetsCurrent liabilities:Accounts payable and accrued liabilities [note 4(d)] $ 19,469 $ 26,586Current portion of obligations under capital leases 107 99Current portion of long-term debt 394 –19,970 26,685Tenants’ security deposits 649 461Deferred revenue (note 10) 1,676 1,699Long-term benefits payable (note 8) 1,337 1,228Obligations under capital leases (note 5) 474 638Long-term debt (note 6) 249,606 250,000253,742 254,026Equity in capital assets:Contributed capital [note 3(b)] 3,805 3,805Equity in capital assets 57,965 62,58161,770 66,386Contingencies [note 12]Commitments [note 13]$ 335,482 $ 347,097See accompanying notes to financial statements.On behalf of the Board:Glenn Rainbird, DirectorMargaret Bateman, Director42
STATEMENTS OF OPERATIONS AND EQUITYIN CAPITAL ASSETS(000’s of Dollars) • Years ended December 31, 2001 and 20002001 2000Revenue:Airside and general terminal (note 11) $ 18,163 $ 15,873Airport improvement fee (note 7 and 11) 16,548 16,584Concession 14,797 13,492Canada Lease capital credit [note 3(a)(iv)] 7,101 6,951Police and security 3,486 2,604Real estate 1,961 1,80962,056 57,313Expenses:Interest [note 6(b)] 13,271 3,577Amortization 13,003 9,968Salaries and employee benefits 11,735 11,359Service, maintenance, supplies and administration 10,210 8,919Canada Lease rent [note 3(a)(iii)] 8,109 7,139Utilities, insurance and property taxes 3,652 2,903Police and security 3,274 2,824Airport improvement fee collection costs 1,197 1,26564,451 47,954Earnings (loss) before the undernoted ( 2,395)9,359Write-off of unamortized capital assets [note 4(f)] ( 2,249 ) ( 1,897 )Gain on sale of land 28 –Settlement of lawsuit – ( 320 )Net earnings (loss) ( 4,616 )7,142Equity in capital assets, beginning of year 62,581 55,439Equity in capital assets, end of year $ 57,965 $ 62,581See accompanying notes to financial statements.43
Page 1 and 2: there’sin the airEDMONTON AIRPORT
Page 3 and 4: CONTENTSThere’s Change in the Air
Page 5 and 6: THERE’S CHANGE IN THE AIRThe them
Page 7 and 8: OUR EYES ON THE SKYBusiness Leaders
Page 9: Bringing the World to Edmonton:Air
Page 13 and 14: WestJet HangarIn 2001, Executive Fl
Page 15: THE WIND AT OUR BACKCustomer Satisf
Page 19 and 20: The loss of Canada 3000 was a signi
Page 21: OUR EAR TO THE GROUNDStakeholder/Co
Page 24 and 25: H. GLENN RAINBIRD, APPOINTED BY THE
Page 26 and 27: PETER BIDLOCK, APPOINTED BY STRATHC
Page 28 and 29: HAROLD D. IRWIN, APPOINTED BY THE F
Page 30 and 31: "GO CONFIDENTLY IN THE DIRECTION OF
Page 33 and 34: 2001 FINANCIAL REVIEW
Page 35 and 36: In 1996, Edmonton Airports renegoti
Page 37 and 38: AIF collection costs totaled $1.2 m
Page 39 and 40: Edmonton Airports remains focused o
Page 41 and 42: FINANCIAL STATEMENTSEDMONTON REGION
Page 43: AUDITORS’ REPORT TO THE BOARD OF
Page 47 and 48: NOTES TO FINANCIAL STATEMENTS(000
Page 49 and 50: (v)Receivable from Landlord:Account
Page 51 and 52: The bonds are secured by a first le
Page 53 and 54: 9. Directors’ and officers’ rem
Page 55 and 56: 13. Commitments:Edmonton Airports h
Page 58: Edmonton International AirportEdmon

2001 Annual Report - Edmonton International Airport

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