ETIHAD AIRLINES Balance Sheet

For the Years Ending [Dec 31, 2017 and Dec 31, 2018]

Assets 2014 2013

Current Assets
Cash 2,159,550,000 2,350,000,000
Accounts receivable 30,000,000 43,000,000
Prepaid expenses 2,000,000 2,500,000
Short-term investments 15,000,000 20,000,000
Total current assets 2,206,550,000 2,415,500,000
Fixed (Long-Term) Assets
Long-term investments 50,000,000 65,500,000
Property, plant, and equipment 850,000,000 900,000,000
(Less accumulated depreciation) 100,000,000 145,000,000
Intangible assets 450,000 500,000
Total fixed assets 1,000,450,000 1,111,000,000
Other Assets
Other 1,000,000 1,500,000
Total Other Assets 1,000,000 1,500,000

Total Assets 3,208,000,000 3,528,000,000

[42]

Liabilities and Owner's Equity

Current Liabilities
Accounts payable 1,000,000,000 2,126,500,000
Short-term loans 12,000,000 15,000,000
Income taxes payable 45,000,000 50,000,000
Total current liabilities 1,057,000,000 2,191,500,000
Long-Term Liabilities
Long-term debt 40,000,000 40,000,000
Other 21,000,000 35,000,000
Total long-term liabilities 61,000,000 75,000,000
Owner's Equity
Owner's investment 1,950,000,000 1,000,000,000
Retained earnings 40,000,000 60,000,000
Common Stocks 100,000,000 201,500,000
Total owner's equity 2,090,000,000 1,261,500,000

Total Liabilities and Owner's Equity 3,208,000,000 3,528,000,000

{42}

Common Financial Ratios

Debt Ratio (Total Liabilities / Total Assets) 0.35 0.64
Current Ratio (Current Assets / Current Liabilities) 2.09 1.10
Working Capital (Current Assets - Current Liabilities) 1,149,550,000 224,000,000
Assets-to-Equity Ratio (Total Assets / Owner's Equity) 1.53 2.80
Debt-to-Equity Ratio (Total Liabilities / Owner's Equity) 0.53 1.80
 SAUDIA AIRLINES Balance Sheet
For the Years Ending [Dec 31, 2017 and Dec 31, 2018]

Assets 2014 2013

Current Assets
Cash 120,000,000 135,000,000
Accounts receivable 30,000,000 43,000,000
Prepaid expenses 2,000,000 2,500,000
Short-term investments 15,000,000 20,000,000
Total current assets 167,000,000 200,500,000
Fixed (Long-Term) Assets
Long-term investments 50,000,000 65,500,000
Property, plant, and equipment 350,000,000 500,000,000
(Less accumulated depreciation) 10,000,000 14,500,000
Intangible assets 45,000 50,000
Total fixed assets 410,045,000 580,050,000
Other Assets
Other 1,000,000 1,500,000
Total Other Assets 1,000,000 1,500,000

Total Assets 578,045,000 782,050,000

[42]

Liabilities and Owner's Equity

Current Liabilities
Accounts payable 190,745,000 279,550,000
Short-term loans 1,200,000 1,500,000
Income taxes payable 45,000,000 50,000,000
Total current liabilities 236,945,000 331,050,000
Long-Term Liabilities
Long-term debt 40,000,000 40,000,000
Other 2,100,000 3,500,000
Total long-term liabilities 42,100,000 43,500,000
Owner's Equity
Owner's investment 195,000,000 200,000,000
Retained earnings 4,000,000 6,000,000
Common Stocks 100,000,000 201,500,000
Total owner's equity 299,000,000 407,500,000

Total Liabilities and Owner's Equity 578,045,000 782,050,000

{42}

Common Financial Ratios

Debt Ratio (Total Liabilities / Total Assets) 0.48 0.48
Current Ratio (Current Assets / Current Liabilities) 0.70 0.61
Working Capital (Current Assets - Current Liabilities) (69,945,000) (130,550,000)
Assets-to-Equity Ratio (Total Assets / Owner's Equity) 1.93 1.92
Debt-to-Equity Ratio (Total Liabilities / Owner's Equity) 0.93 0.92
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