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DELTA AIR LINES INC /DE/


 SEC Form 10-Q filed 2010-07-30 for the period ending 2010-06-30




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Selected tables from the SEC filing


Table 0


Financial table in standard format


Financial Statements

DELTA AIR LINES, INC.

Consolidated Balance Sheets

(Unaudited)








     
     
     
     
     
     
     
     
     




     
     
        June 30,    
     
     
    December 31,
     




    (in millions, except share data)
     
    2010
     
     
    2009
     







     




    ASSETS





    
Current Assets:

     
     
     
     
     
     
     
     




    
Cash and cash equivalents

     
    $
    4,434
     
     
    $
    4,607
     




    
Short-term investments

     
     
    
     
     
     
    71
     




    
Restricted cash, cash equivalents and short-term
investments

     
     
    409
     
     
     
    423
     




    
Accounts receivable, net of an allowance for
uncollectible accounts of $48 and $47
at 
June 30, 2010 and December 31, 2009, respectively

     
     
    1,645
     
     
     
    1,353
     




    
Expendable parts and supplies inventories, net of an
allowance for obsolescence of $77 and $75
at June 30, 2010 and December 31, 2009, respectively

     
     
    285
     
     
     
    327
     




    
Deferred income taxes, net

     
     
    236
     
     
     
    107
     




    
Prepaid expenses and other

     
     
    859
     
     
     
    853
     




    
 

     
     
     
     
     
     




    
Total current assets

     
     
    7,868
     
     
     
    7,741
     




    
 

     
     
     
     
     
     




    
 

     
     
     
     
     
     
     
     




    
Property and Equipment, Net:

     
     
     
     
     
     
     
     




    
Property and equipment, net of accumulated
depreciation and amortization of $3,542 and $2,924
at June 30, 2010 and December 31, 2009, respectively

     
     
    20,396
     
     
     
    20,433
     




    
 

     
     
     
     
     
     




    
 

     
     
     
     
     
     
     
     




    
Other Assets:

     
     
     
     
     
     
     
     




    
Goodwill

     
     
    9,794
     
     
     
    9,787
     




    
Identifiable intangibles, net of accumulated
amortization of $494 and $451
at
 June 30, 2010 and December 31, 2009, respectively

     
     
    4,786
     
     
     
    4,829
     




    
Other noncurrent assets

     
     
    965
     
     
     
    749
     




    
 

     
     
     
     
     
     




    
Total other assets

     
     
    15,545
     
     
     
    15,365
     




    
 

     
     
     
     
     
     




    
Total assets

     
    $
    43,809
     
     
    $
    43,539
     




    
 

     
     
     
     
     
     




    
 

     
     
     
     
     
     
     
     




    LIABILITIES AND STOCKHOLDERS EQUITY





    
Current Liabilities:

     
     
     
     
     
     
     
     




    
Current maturities of long-term debt and capital leases

     
    $
    1,555
     
     
    $
    1,533
     




    
Air traffic liability

     
     
    4,557
     
     
     
    3,074
     




    
Accounts payable

     
     
    1,630
     
     
     
    1,249
     




    
Frequent flyer deferred revenue

     
     
    1,619
     
     
     
    1,614
     




    
Accrued salaries and related benefits

     
     
    1,111
     
     
     
    1,037
     




    
Taxes payable

     
     
    721
     
     
     
    525
     




    
Other accrued liabilities

     
     
    699
     
     
     
    765
     




    
 

     
     
     
     
     
     




    
Total current liabilities

     
     
    11,892
     
     
     
    9,797
     




    
 

     
     
     
     
     
     




    
 

     
     
     
     
     
     
     
     




    
Noncurrent Liabilities:

     
     
     
     
     
     
     
     




    
Long-term debt and capital leases

     
     
    14,228
     
     
     
    15,665
     




    
Pension, postretirement and related benefits

     
     
    11,320
     
     
     
    11,745
     




    
Frequent flyer deferred revenue

     
     
    3,014
     
     
     
    3,198
     




    
Deferred income taxes, net

     
     
    1,803
     
     
     
    1,667
     




    
Other noncurrent liabilities

     
     
    1,353
     
     
     
    1,222
     




    
 

     
     
     
     
     
     




    
Total noncurrent liabilities

     
     
    31,718
     
     
     
    33,497
     




    
 

     
     
     
     
     
     




    
 

     
     
     
     
     
     
     
     




    
Commitments and Contingencies

     
     
     
     
     
     
     
     




    
 

     
     
     
     
     
     
     
     




    
Stockholders Equity:

     
     
     
     
     
     
     
     




    
Common stock at $0.0001 par value; 1,500,000,000
shares authorized, 801,701,956 and 794,873,058
shares issued at June 30, 2010 and December 31,
2009, respectively

     
     
    
     
     
     
    
     




    
Additional paid-in capital

     
     
    13,884
     
     
     
    13,827
     




    
Accumulated deficit

     
     
    (9,634
    )
     
     
    (9,845
    )




    
Accumulated other comprehensive loss

     
     
    (3,853
    )
     
     
    (3,563
    )




    
Treasury stock, at cost, 12,852,539 and 10,918,274
shares at June 30, 2010 and December 31, 2009,
respectively

     
     
    (198
    )
     
     
    (174
    )




    
 

     
     
     
     
     
     




    
Total stockholders equity

     
     
    199
     
     
     
    245
     




    
 

     
     
     
     
     
     




    
Total liabilities and stockholders equity

     
    $
    43,809
     
     
    $
    43,539
     




    
 

     
         
     
     
         
     











DELTA AIR LINES INC /DE/
CIK:27904


2010-06-30
2009-12-31

ASSETS


Current Assets:


Cash and cash equivalents$4,434$4,607


Short-term investments71


Restricted cash, cash equivalents and short-term investments409423


Accounts receivable, net of an allowance for uncollectible accounts of $48 and $47 at June 30, 2010 and December 31, 2009, respectively1,6451,353


Expendable parts and supplies inventories, net of an allowance for obsolescence of $77 and $75 at June 30, 2010 and December 31, 2009, respectively285327


Deferred income taxes, net236107


Prepaid expenses and other859853


Total current assets7,8687,741


Property and Equipment, Net:


Property and equipment, net of accumulated depreciation and amortization of $3,542 and $2,924 at June 30, 2010 and December 31, 2009, respectively20,39620,433


Other Assets:


Goodwill9,7949,787


Identifiable intangibles, net of accumulated amortization of $494 and $451 at June 30, 2010 and December 31, 2009, respectively4,7864,829


Other noncurrent assets965749


Total other assets15,54515,365


Total assets$43,809$43,539


LIABILITIES AND STOCKHOLDERS EQUITY


Current Liabilities:


Current maturities of long-term debt and capital leases$1,555$1,533


Air traffic liability4,5573,074


Accounts payable1,6301,249


Frequent flyer deferred revenue1,6191,614


Accrued salaries and related benefits1,1111,037


Taxes payable721525


Other accrued liabilities699765


Total current liabilities11,8929,797


Noncurrent Liabilities:


Long-term debt and capital leases14,22815,665


Pension, postretirement and related benefits11,32011,745


Frequent flyer deferred revenue3,0143,198


Deferred income taxes, net1,8031,667


Other noncurrent liabilities1,3531,222


Total noncurrent liabilities31,71833,497


Commitments and Contingencies


Stockholders Equity:


Common stock at $0.0001 par value; 1,500,000,000 shares authorized, 801,701,956 and 794,873,058 shares issued at June 30, 2010 and December 31, 2009, respectively


Additional paid-in capital13,88413,827


Accumulated deficit(9,634)(9,845)


Accumulated other comprehensive loss(3,853)(3,563)


Treasury stock, at cost, 12,852,539 and 10,918,274 shares at June 30, 2010 and December 31, 2009, respectively(198)(174)


Total stockholders equity199245


Total liabilities and stockholders equity$43,809$43,539





Row "ASSETS": Multi-column field in a numeric row

Row "LIABILITIES AND STOCKHOLDERS EQUITY": Multi-column field in a numeric row


Table 1


Financial table in standard format


DELTA AIR LINES, INC.

Consolidated Statements of Operations

(Unaudited)








     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     




     
     
    Three Months Ended June 30,
     
     
    Six Months Ended June 30,
     




    (in millions, except per share data)
     
    2010
     
     
    2009
     
     
    2010
     
     
    2009
     







     




    
Operating Revenue:

     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     




    
Passenger:

     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     




    
Mainline

     
    $
    5,480
     
     
    $
    4,564
     
     
    $
    9,966
     
     
    $
    8,931
     




    
Regional carriers

     
     
    1,529
     
     
     
    1,339
     
     
     
    2,849
     
     
     
    2,573
     




    
 

     
     
     
     
     
     
     
     
     
     
     
     




    
Total passenger revenue

     
     
    7,009
     
     
     
    5,903
     
     
     
    12,815
     
     
     
    11,504
     




    
Cargo

     
     
    211
     
     
     
    173
     
     
     
    387
     
     
     
    358
     




    
Other, net

     
     
    948
     
     
     
    924
     
     
     
    1,814
     
     
     
    1,822
     




    
 

     
     
     
     
     
     
     
     
     
     
     
     




    
Total operating revenue

     
     
    8,168
     
     
     
    7,000
     
     
     
    15,016
     
     
     
    13,684
     




    
 

     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     




    
Operating Expense:

     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     




    
Aircraft fuel and related taxes

     
     
    1,960
     
     
     
    1,812
     
     
     
    3,643
     
     
     
    3,705
     




    
Salaries and related costs

     
     
    1,702
     
     
     
    1,723
     
     
     
    3,374
     
     
     
    3,429
     




    
Contract carrier arrangements

     
     
    972
     
     
     
    965
     
     
     
    1,889
     
     
     
    1,873
     




    
Aircraft maintenance materials and
outside repairs

     
     
    395
     
     
     
    392
     
     
     
    769
     
     
     
    816
     




    
Depreciation and amortization

     
     
    379
     
     
     
    383
     
     
     
    764
     
     
     
    767
     




    
Contracted services

     
     
    366
     
     
     
    354
     
     
     
    758
     
     
     
    786
     




    
Passenger commissions and other
selling expenses

     
     
    377
     
     
     
    329
     
     
     
    741
     
     
     
    685
     




    
Landing fees and other rents

     
     
    324
     
     
     
    315
     
     
     
    637
     
     
     
    631
     




    
Passenger service

     
     
    165
     
     
     
    161
     
     
     
    303
     
     
     
    296
     




    
Aircraft rent

     
     
    101
     
     
     
    119
     
     
     
    213
     
     
     
    240
     




    
Profit sharing

     
     
    90
     
     
     
    
     
     
     
    90
     
     
     
    
     




    
Restructuring and merger-related items

     
     
    82
     
     
     
    58
     
     
     
    136
     
     
     
    157
     




    
Other

     
     
    403
     
     
     
    388
     
     
     
    779
     
     
     
    781
     




    
 

     
     
     
     
     
     
     
     
     
     
     
     




    
Total operating expense

     
     
    7,316
     
     
     
    6,999
     
     
     
    14,096
     
     
     
    14,166
     




    
 

     
     
     
     
     
     
     
     
     
     
     
     




    
 

     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     




    
Operating Income (Loss)

     
     
    852
     
     
     
    1
     
     
     
    920
     
     
     
    (482
    )




    
 

     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     




    
Other (Expense) Income:

     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     




    
Interest expense

     
     
    (315
    )
     
     
    (324
    )
     
     
    (641
    )
     
     
    (632
    )




    
Interest income

     
     
    3
     
     
     
    9
     
     
     
    23
     
     
     
    19
     




    
Miscellaneous, net

     
     
    (72
    )
     
     
    61
     
     
     
    (80
    )
     
     
    48
     




    
 

     
     
     
     
     
     
     
     
     
     
     
     




    
Total other expense, net

     
     
    (384
    )
     
     
    (254
    )
     
     
    (698
    )
     
     
    (565
    )




    
 

     
     
     
     
     
     
     
     
     
     
     
     




    
 

     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     




    
Income (Loss) Before Income Taxes

     
     
    468
     
     
     
    (253
    )
     
     
    222
     
     
     
    (1,047
    )




    
 

     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     




    
Income Tax Provision

     
     
    (1
    )
     
     
    (4
    )
     
     
    (11
    )
     
     
    (4
    )




    
 

     
     
     
     
     
     
     
     
     
     
     
     




    
 

     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     




    
Net Income (Loss)

     
    $
    467
     
     
    $
    (257
    )
     
    $
    211
     
     
    $
    (1,051
    )




    
 

     
     
     
     
     
     
     
     
     
     
     
     




    
 

     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     




    
Basic Earnings (Loss) per Share

     
    $
    0.56
     
     
    $
    (0.31
    )
     
    $
    0.25
     
     
    $
    (1.27
    )




    
 

     
     
     
     
     
     
     
     
     
     
     
     




    
Diluted Earnings (Loss) per Share

     
    $
    0.55
     
     
    $
    (0.31
    )
     
    $
    0.25
     
     
    $
    (1.27
    )




    
 

     
         
     
     
         
     
     
         
     
     
         
     











DELTA AIR LINES INC /DE/
CIK:27904


2010-03-30
to
2010-06-30
(3-months)		
2009-03-30
to
2009-06-30
(3-months)		
2009-12-30
to
2010-06-30
(6-months)		
2008-12-30
to
2009-06-30
(6-months)		

Operating Revenue:


Passenger:


Mainline$5,480$4,564$9,966$8,931


Regional carriers1,5291,3392,8492,573


Total passenger revenue7,0095,90312,81511,504


Cargo211173387358


Other, net9489241,8141,822


Total operating revenue8,1687,00015,01613,684


Operating Expense:


Aircraft fuel and related taxes1,9601,8123,6433,705


Salaries and related costs1,7021,7233,3743,429


Contract carrier arrangements9729651,8891,873


Aircraft maintenance materials and outside repairs395392769816


Depreciation and amortization379383764767


Contracted services366354758786


Passenger commissions and other selling expenses377329741685


Landing fees and other rents324315637631


Passenger service165161303296


Aircraft rent101119213240


Profit sharing9090


Restructuring and merger-related items8258136157


Other403388779781


Total operating expense7,3166,99914,09614,166


Operating Income (Loss)8521920(482)


Other (Expense) Income:


Interest expense(315)(324)(641)(632)


Interest income392319


Miscellaneous, net(72)61(80)48


Total other expense, net(384)(254)(698)(565)


Income (Loss) Before Income Taxes468(253)222(1,047)


Income Tax Provision(1)(4)(11)(4)


Net Income (Loss)$467$(257)$211$(1,051)


Basic Earnings (Loss) per Share$0.56$(0.31)$0.25$(1.27)


Diluted Earnings (Loss) per Share$0.55$(0.31)$0.25$(1.27)





Table 2


Financial table in standard format


 

 

Aircraft Fuel Derivatives.

Our aircraft fuel derivative instruments generally consist of crude oil, heating oil and jet fuel swap, collar, and call option contracts and are valued under the income approach using a discounted cash flow model or an option pricing model based on data either readily observable or derived from public markets.

 

 

 

Interest Rate Derivatives.

Our interest rate derivative instruments consist of swap and call option contracts and are valued primarily based on data readily observable in public markets.

 

 

 

Foreign Currency Derivatives.

Our foreign currency derivative instruments consist of Japanese yen and Canadian dollar forward contracts and are valued based on data readily observable in public markets.

     Our fair value assessments include open derivative positions and exclude contracts that have been closed, but not settled. For additional information regarding the classification of our derivative instruments on our Consolidated Balance Sheets, see Note 3.

Fair Value of Debt

     Market risk associated with our fixed and variable rate long-term debt relates to the potential reduction in fair value and negative impact to future earnings, respectively, from an increase in interest rates. The following table presents information about our debt:








     
     
     
     
     
     
     
     
     




     
     
    June 30,
     
    December 31,




    (in millions)
     
    2010
     
    2009







     




    
Total debt at par value

     
    $
    16,497
     
     
    $
    18,068
     




    
Unamortized discount, net

     
     
    (1,387
    )
     
     
    (1,403
    )




     




    
Net carrying amount

     
    $
    15,110
     
     
    $
    16,665
     




     




    
Fair value(1)

     
    $
    14,488
     
     
    $
    15,427
     




     











DELTA AIR LINES INC /DE/
CIK:27904


2010-06-30
2009-12-31

Total debt at par value$16,497$18,068


Unamortized discount, net(1,387)(1,403)


Net carrying amount$15,110$16,665


Fair value(1)$14,488$15,427





Table 3


Financial table in standard format


     Due to the estimated fair value position of our fuel hedge contracts, we received $28 million in fuel hedge margin from counterparties and provided $14 million in primarily interest rate hedge margin to counterparties as of June 30, 2010.

NOTE 4. DEBT

     

American Express Agreement

. In March 2010, we and American Express modified our December 2008 agreement under which we received $1.0 billion from American Express for their advance purchase of SkyMiles. This advance payment is classified as long-term debt on our Consolidated Balance Sheets. It will be satisfied by the use of SkyMiles by American Express over a specified period (SkyMiles Usage Period) rather than by cash payments from us to American Express. The March 2010 modification provides, among other things, that Delta-American Express co-branded credit card holders may check their first bag for free on every Delta flight through June 2013 in exchange for (1) a change in the SkyMiles Usage Period to a three-year period beginning in December 2011 from a two-year period beginning in December 2010 and (2) giving American Express the option to extend the December 2008 agreement for one year. The change in the SkyMiles Usage Period deferred $31 million and $480 million of debt maturities for the six months ending December 31, 2010 and year ending December 31, 2011, respectively.

     

Exit Revolving Facility.

During the June 2010 quarter, we amended our $1.0 billion first-lien revolving credit facility (the Exit Revolving Facility) to convert the $86 million revolving commitment of Lehman Commercial Paper, Inc. to a fully funded, non-revolving loan due April 2012. In addition, we prepaid the remaining $914 million of the Exit Revolving Facility. Borrowings under the Exit Revolving Facility can be prepaid without penalty and amounts prepaid can be reborrowed. As of June 30, 2010, the $914 million Exit Revolving Facility was undrawn.

     

2010-1 EETC.

In July 2010, we completed a $450 million offering of Pass Through Certificates, Series 2010-1A, through a pass through trust. We used $160 million in net proceeds to partially finance two B-777-200LR aircraft purchased in March 2010. The remaining $290 million will be used to partially refinance 22 aircraft currently supporting the 2000-1 EETC and will be held in escrow until the final maturity of the 2000-1 EETC in November 2010. The debt securities in this offering bear interest at a fixed rate of 6.2% per year and have a final maturity in July 2018. At June 30, 2010, we reclassified $290 million principal amount of the 2000-1 EETC from current maturities to long-term debt.

Covenants

     We were in compliance with all covenants in our financing agreements at June 30, 2010.

Future Maturities

     The following table summarizes scheduled maturities of our debt, including current maturities, at June 30, 2010:








     
     
     
     
     




    Years Ending December 31,
     
     




    (in millions)
     
    Total







     




    
Six months ending December 31, 2010

     
    $
    766
     




    
2011

     
     
    2,093
     




    
2012

     
     
    2,419
     




    
2013

     
     
    1,746
     




    
2014

     
     
    3,203
     




    
Thereafter

     
     
    6,270
     




     




    
 

     
     
    16,497
     




    
Unamortized discount, net

     
     
    (1,387
    )




     




    
Total

     
    $
    15,110
     




     











DELTA AIR LINES INC /DE/
CIK:27904




20122,419


20131,746


20143,203


Thereafter6,270


16,497


Unamortized discount, net(1,387)


Total$15,110





Data column 1: Unable to interpret date in column header


Table 4


Financial table in standard format


NOTE 8. RESTRUCTURING AND MERGER-RELATED ITEMS

     The following table shows charges recorded in restructuring and merger-related items on our Consolidated Statements of Operations:








     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     




     
     
    Three Months Ended
     
    Six Months Ended




     
     
    June 30,
     
    June 30,




    (in millions)
     
    2010
     
    2009
     
    2010
     
    2009







     




    
Merger-related items

     
    $
    46
     
     
    $
    58
     
     
    $
    92
     
     
    $
    107
     




    
Asset impairment

     
     
    36
     
     
     
    
     
     
     
    36
     
     
     
    
     




    
Severance and related costs

     
     
    
     
     
     
    
     
     
     
    8
     
     
     
    50
     




     




    
Total restructuring and merger-related items

     
    $
    82
     
     
    $
    58
     
     
    $
    136
     
     
    $
    157
     




     











DELTA AIR LINES INC /DE/
CIK:27904


2010-03-30
to
2010-06-30
(3-months)		
2009-03-30
to
2009-06-30
(3-months)		
2009-12-30
to
2010-06-30
(6-months)		
2008-12-30
to
2009-06-30
(6-months)		

Merger-related items$46$58$92$107


Asset impairment3636


Severance and related costs850


Total restructuring and merger-related items$82$58$136$157





Table 5


Financial table in standard format


     The Delta Debtors and the Northwest Debtors will continue to settle claims and file objections with the bankruptcy courts regarding claims. In light of the substantial number and amount of claims filed, we expect the claims resolution process will take additional time to complete. We believe there will be no further material impact to the Consolidated Statements of Operations from the settlement of claims because the holders of such claims will receive under Deltas and Northwests Plan of Reorganization, as the case may be, only their pro rata share of the distributions of common stock contemplated by the applicable Plan of Reorganization.

NOTE 10. EARNINGS (LOSS) PER SHARE

     We calculate basic earnings (loss) per share by dividing the net income (loss) by the weighted average number of common shares outstanding. Shares issuable upon the satisfaction of certain conditions are considered outstanding and included in the computation of basic earnings (loss) per share. Accordingly, the calculation of basic earnings (loss) per share for the three and six months ended June 30, 2010 and 2009 assumes there was outstanding at the beginning of each of these periods (1) all 386 million shares of Delta common stock contemplated by Deltas Plan of Reorganization to be distributed to holders of allowed general, unsecured claims and (2) nine million shares of Delta common stock reserved for issuance in exchange for shares of Northwest common stock that, but for the Merger, would have been issued under Northwests Plan of Reorganization. Similarly, the calculation of basic loss per share for the three and six months ended June 30, 2009 assumes there was outstanding at the beginning of the period 50 million shares of Delta common stock we agreed to issue on behalf of Delta and Northwest pilots in connection with the Merger.

     The following table shows our computation of basic and diluted earnings (loss) per share:








     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     




     
     
    Three Months Ended June 30,
     
    Six Months Ended June 30,




    (in millions, except per share data)
     
    2010
     
    2009
     
    2010
     
    2009







     




    
Basic:

     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     




    
Net income (loss)

     
    $
    467
     
     
    $
    (257
    )
     
    $
    211
     
     
    $
    (1,051
    )




    
Basic weighted average shares outstanding

     
     
    834
     
     
     
    827
     
     
     
    833
     
     
     
    826
     




     




    
Basic earnings (loss) per share

     
    $
    0.56
     
     
    $
    (0.31
    )
     
    $
    0.25
     
     
    $
    (1.27
    )




     




    
Diluted:

     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     




    
Net income (loss)

     
    $
    467
     
     
    $
    (257
    )
     
    $
    211
     
     
    $
    (1,051
    )




    
Basic weighted average shares outstanding

     
     
    834
     
     
     
    827
     
     
     
    833
     
     
     
    826
     




    
Dilutive effects of share based awards

     
     
    8
     
     
     
    
     
     
     
    9
     
     
     
    
     




     




    
Diluted weighted average shares outstanding

     
     
    842
     
     
     
    827
     
     
     
    842
     
     
     
    826
     




     




    
Diluted earnings (loss) per share

     
    $
    0.55
     
     
    $
    (0.31
    )
     
    $
    0.25
     
     
    $
    (1.27
    )




     




    
Antidilutive common stock equivalents
excluded from diluted earnings (loss) per
share

     
     
    23
     
     
     
    40
     
     
     
    22
     
     
     
    40
     




     











DELTA AIR LINES INC /DE/
CIK:27904


2010-03-30
to
2010-06-30
(3-months)		
2009-03-30
to
2009-06-30
(3-months)		
2009-12-30
to
2010-06-30
(6-months)		
2008-12-30
to
2009-06-30
(6-months)		

Basic:


Net income (loss)$467$(257)$211$(1,051)


Basic weighted average shares outstanding834827833826


Basic earnings (loss) per share$0.56$(0.31)$0.25$(1.27)


Diluted:


Net income (loss)$467$(257)$211$(1,051)


Basic weighted average shares outstanding834827833826


Dilutive effects of share based awards89


Diluted weighted average shares outstanding842827842826


Diluted earnings (loss) per share$0.55$(0.31)$0.25$(1.27)


Antidilutive common stock equivalents excluded from diluted earnings (loss) per share23402240





Original filing from SEC EDGAR system.