Delta Airlines 2004 Annual Report Download - page 61
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Table of Contents
Consolidated Balance Sheets
December 31, 2004 and 2003
LIABILITIES AND SHAREOWNERS' DEFICIT
(in millions, except share data) 2004 2003
CURRENT LIABILITIES:
Current maturities of long-term debt and capital leases $ 893 $ 1,021
Accounts payable, deferred credits and other accrued liabilities 1,560 1,709
Air traffic liability 1,567 1,308
Taxes payable 499 498
Accrued salaries and related benefits 1,151 1,285
Accrued rent 271 336
Total current liabilities 5,941 6,157
NONCURRENT LIABILITIES:
Long-term debt and capital leases 12,507 11,040
Long-term debt issued by Massachusetts Port Authority 498 498
Postretirement benefits 1,771 2,253
Accrued rent 633 701
Pension and related benefits 5,099 4,886
Other 340 204
Total noncurrent liabilities 20,848 19,582
DEFERRED CREDITS:
Deferred gains on sale and leaseback transactions 376 426
Deferred revenue and other credits 155 158
Total deferred credits 531 584
COMMITMENTS AND CONTINGENCIES (Notes 3, 4, 6, 7 and 8)
EMPLOYEE STOCK OWNERSHIP PLAN
PREFERRED STOCK:
Series B ESOP Convertible Preferred Stock, $1.00 par value, $72.00 stated and liquidation value;
5,417,735 shares issued and outstanding at December 31, 2004, and 5,839,708 shares issued and outstanding
at December 31, 2003 390 420
Unearned compensation under employee stock ownership plan (113) (145)
Total Employee Stock Ownership Plan Preferred Stock 277 275
SHAREOWNERS' DEFICIT:
Common stock, $1.50 par value; 450,000,000 authorized; 190,745,445 shares issued at December 31, 2004, and 180,915,087 shares issued
at December 31, 2003 286 271
Additional paid-in capital 3,052 3,272
(Accumulated deficit) retained earnings (4,373) 844
Accumulated other comprehensive loss (2,358) (2,338)
Treasury stock at cost, 50,915,002 shares at December 31, 2004, and 57,370,142 shares at December 31, 2003 (2,403) (2,708)
Total shareowners' deficit (5,796) (659)
Total liabilities and shareowners' deficit $21,801 $25,939
The accompanying notes are an integral part of these Consolidated Financial Statements.
F-4