Property and equipment

12 Months Ended

Apr. 30, 2012

6.	Property and equipment:

The cost and related accumulated amortization of the Company’s flying assets, facilities and equipment are as follows:


	Property and equipment									Total
	Flying Assets			Equipment			Facilities

At April 30, 2012:
Cost	$	1,029,381		$	81,802		$	129,284		$	1,240,467
Accumulated depreciation		(156,345	)		(24,992	)		(32,270	)		(213,607	)


Net book value	$	873,036		$	56,810		$	97,014		$	1,026,860


At April 30, 2011:
Cost	$	1,117,338		$	65,657		$	135,969		$	1,318,964
Accumulated depreciation		(142,024	)		(13,622	)		(29,819	)		(185,465	)


Net book value	$	975,314		$	52,035		$	106,150		$	1,133,499

Amortization of property and equipment totaled $113.0 million (2011 – $99.6 million, 2010 – $77.7 million).

The flying assets under capital lease included above are as follows:


	2012			2011

Flying assets under capital lease:
Cost	$	32,795		$	149,653
Accumulated amortization		(2,073	)		(1,745	)


	$	30,722		$	147,908

Amortization related to flying assets under capital lease was $2.5 million, for the year ended April 30, 2012 (2011 – $1.1 million, 2010 – $0.6 million).

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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