Question
What amounts were reported for the following items for the fiscal year ending December 31, 2013? All amounts represented in $millions. Find the following: a)
What amounts were reported for the following items for the fiscal year ending December 31, 2013? All amounts represented in $millions. Find the following: a) total revenues, b) income from current operations, c) net income or net loss (equity holders), d) total assets, e) total equity. What was the basic earnings or loss per shar for the fiscal year 2013? Use the following income statement and balance sheet information to find your solutions and explain how you got your solutions. Finally, what accounting principles were used to prepare these financial statements? Under those accounting principles, could this company's financial information differ from that of a company that exactly followed IFRS as published by the IASB? Explain all answers.
Consolidated Income Statement
2013 | 2012 | |
Sales | 25,520 | 25,423 |
other revenues | 10 | 16 |
Revenues | 25,530 | 25,439 |
External Expenses | (15,997) | (16,272) |
Salaries and Related Costs | (7,482) | (7,662 |
Taxes other than income taxes | (186) | (184) |
Amortization | (1,566) | (1,576) |
Depreciation and Provisions | (159) | (154) |
Other income and expenses | (10) | 73 |
Income from current operations | 130 | (336) |
Sales of aircraft equipment | (12) | 8 |
Other non-current income and expenses | (345) | (403) |
Income from operating activities | (227) | (731) |
Cost of financial debt | (481) | (436) |
Income from cash and cash equivalents | 77 | 83 |
Net cost of financial debt | (404) | (353) |
Other financial income and expenses | 103 | 144 |
Income before tax | (528) | (940) |
Income taxes | (957) | (17) |
Net income of consolidated companies | (1,485) | (957) |
Share of profits(losses) of associates | (211) | (66) |
Net income from continuing operations | (1,696) | (1,023) |
Net income from discontinued operations | (122) | (197) |
Net income for the period | (1,818) | (1,220) |
Equity holders | (1,827) | (1,225) |
non controlling interest | 9 | 5 |
Earnings per share-Equity holders | ||
Basic and diluted | (6.17) | (4.14) |
Net income from continuing operations-Equity holders | ||
Basic and diluted | (5.76) | (3.47) |
net income from discontinued operations-Equity holders | ||
Basic and diluted | (0.41) | (0.67) |
Infotmation Below Is Used for the Balance Sheet | ||
Assets | 2013 | 2012 |
Goodwill | 237 | 252 |
Intangible Assets | 896 | 842 |
Flight Equipment | 9,391 | 10,048 |
Other property, plant and equipment | 1,819 | 1,932 |
Investments in equity associates | 177 | 381 |
Pension assets | 2,454 | 2,477 |
Other financial assets | 1,963 | 1,665 |
Deferred tax assets | 436 | 1,392 |
Other non-current assets | 113 | 152 |
Total non-current assets | 17,486 | 19,141 |
Assets held for sale | 91 | 7 |
Other short-term financial assets | 1,031 | 933 |
Inventories | 511 | 521 |
Trade accounts receivables | 1,775 | 1,859 |
Income tax receivables | 23 | 11 |
Other current assets | 822 | 828 |
Cash and cash equivalents | 3,684 | 3,420 |
Total current assets | 7,937 | 7,579 |
Total equity | 2,290 | 3,637 |
Total Non-current liabilities | 12,273 | 13,256 |
Total current liabilities | 10,860 | 9,827 |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started