Delta Airlines 2002 Annual Report Download - page 132
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Liabilities and Shareowners' Equity
(in millions, except share data) 2002 2001
------- -------
CURRENT LIABILITIES:
Current maturities of long-term debt $ 666 $ 260
Short-term obligations -- 765
Current obligations under capital leases 27 31
Accounts payable, deferred credits and other accrued liabilities 1,921 1,617
Air traffic liability 1,270 1,224
Taxes payable 862 1,049
Accrued salaries and related benefits 1,365 1,121
Accrued rent 344 336
------- -------
Total current liabilities 6,455 6,403
------- -------
NONCURRENT LIABILITIES:
Long-term debt 9,576 7,781
Long-term debt issued by Massachusetts Port Authority (Note 6) 498 498
Capital leases 100 68
Postretirement benefits 2,282 2,292
Accrued rent 739 781
Deferred income taxes -- 465
Pension and related benefits 3,242 359
Other 93 105
------- -------
Total noncurrent liabilities 16,530 12,349
------- -------
DEFERRED CREDITS:
Deferred gains on sale and leaseback transactions 478 519
Deferred revenue and other credits 100 310
------- -------
Total deferred credits 578 829
------- -------
COMMITMENTS AND CONTINGENCIES (NOTES 3, 4, 6, 7, 8 AND 9)
EMPLOYEE STOCK OWNERSHIP PLAN PREFERRED STOCK:
Series B ESOP Convertible Preferred Stock, $1.00 par value, $72.00 stated and
liquidation value; 6,065,489 shares issued and outstanding at December 31,
2002, and 6,278,210 shares issued and outstanding at December 31, 2001 437 452
Unearned compensation under Employee Stock Ownership Plan (173) (197)
------- -------
Total Employee Stock Ownership Plan Preferred Stock 264 255
------- -------
SHAREOWNERS' EQUITY:
Common stock, $1.50 par value; 450,000,000 shares authorized; 180,903,373 shares issued
at December 31, 2002, and 180,890,356 shares issued at December 31, 2001 271 271
Additional paid-in capital 3,263 3,267
Retained earnings 1,639 2,930
Accumulated other comprehensive income (loss) (1,562) 25
Treasury stock at cost, 57,544,168 shares at December 31, 2002, and 57,644,690
shares at December 31, 2001 (2,718) (2,724)
------- -------
Total shareowners' equity 893 3,769
------- -------
Total liabilities and shareowners' equity $24,720 $23,605
======= =======
The accompanying notes are an integral part of these Consolidated Financial
Statements.
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