Delta Airlines 2002 Annual Report Download - page 133

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Consolidated Statements of Operations
For the years ended December 31, 2002, 2001 and 2000
(in millions, except per share data) 2002 2001 2000
------------------------------------ -------- -------- --------
OPERATING REVENUES:
Passenger $ 12,321 $ 12,964 $ 15,657
Cargo 458 506 583
Other, net 526 409 501
-------- -------- --------
Total operating revenues 13,305 13,879 16,741
OPERATING EXPENSES:
Salaries and related costs 6,165 6,124 5,971
Aircraft fuel 1,683 1,817 1,969
Depreciation and amortization 1,148 1,283 1,187
Contracted services 1,003 1,016 966
Landing fees and other rents 834 780 771
Aircraft maintenance materials and outside repairs 711 801 723
Aircraft rent 709 737 741
Other selling expenses 539 616 688
Passenger commissions 322 540 661
Passenger service 372 466 470
Asset writedowns, restructuring and related items, net 439 1,119 108
Stabilization Act compensation (34) (634) --
Other 723 816 849
-------- -------- --------
Total operating expenses 14,614 15,481 15,104
OPERATING INCOME (LOSS) (1,309) (1,602) 1,637
-------- -------- --------
OTHER INCOME (EXPENSE):
Interest expense (646) (499) (380)
Interest income 36 89 123
Loss on extinguishment of ESOP Notes (42) -- --
Gain (loss) from sale of investments, net (3) 127 301
Fair value adjustments of SFAS 133 derivatives (39) 68 (159)
Miscellaneous income (expense), net 1 (47) 27
-------- -------- --------
Total other income (expense) (693) (262) (88)
INCOME (LOSS) BEFORE INCOME TAXES AND CUMULATIVE EFFECT
OF CHANGE IN ACCOUNTING PRINCIPLE (2,002) (1,864) 1,549
INCOME TAX BENEFIT (PROVISION) 730 648 (621)
-------- -------- --------
INCOME (LOSS) BEFORE CUMULATIVE EFFECT OF CHANGE IN ACCOUNTING
PRINCIPLE, NET OF TAX (1,272) (1,216) 928
CUMULATIVE EFFECT OF CHANGE IN ACCOUNTING PRINCIPLE,
NET OF TAX OF $64 MILLION IN 2000 -- -- (100)
-------- -------- --------
NET INCOME (LOSS) (1,272) (1,216) 828
PREFERRED STOCK DIVIDENDS (15) (14) (13)
-------- -------- --------
NET INCOME (LOSS) AVAILABLE TO COMMON SHAREOWNERS $ (1,287) $ (1,230) $ 815
-------- -------- --------
BASIC EARNINGS (LOSS) PER SHARE BEFORE CUMULATIVE EFFECT
OF CHANGE IN ACCOUNTING PRINCIPLE $ (10.44) $ (9.99) $ 7.39
-------- -------- --------
BASIC EARNINGS (LOSS) PER SHARE $ (10.44) $ (9.99) $ 6.58
-------- -------- --------
DILUTED EARNINGS (LOSS) PER SHARE BEFORE CUMULATIVE EFFECT
OF CHANGE IN ACCOUNTING PRINCIPLE $ (10.44) $ (9.99) $ 7.05
-------- -------- --------
DILUTED EARNINGS (LOSS) PER SHARE $ (10.44) $ (9.99) $ 6.28
-------- -------- --------
The accompanying notes are an integral part of these Consolidated Financial
Statements.
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