Delta Airlines 2004 Annual Report Download - page 62

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Table of Contents
Consolidated Statements of Operations
For the years ended December 31, 2004, 2003 and 2002
(in millions, except per share data) 2004 2003 2002
OPERATING REVENUES:
Passenger:
Mainline $ 10,880 $ 10,393 $ 10,749
Regional affiliates 2,910 2,629 2,049
Cargo 500 467 458
Other, net 712 598 610
Total operating revenues 15,002 14,087 13,866
OPERATING EXPENSES:
Salaries and related costs 6,338 6,342 6,165
Aircraft fuel 2,924 1,938 1,683
Depreciation and amortization 1,244 1,230 1,164
Contracted services 999 886 1,003
Contract carrier arrangements 932 784 561
Landing fees and other rents 875 858 834
Aircraft maintenance materials and outside repairs 681 630 711
Aircraft rent 716 727 709
Other selling expenses 502 479 539
Passenger commissions 204 211 322
Passenger service 349 325 372
Impairment of intangible assets 1,875 — —
Restructuring, asset writedowns, pension settlements and related items, net (41) 268 439
Appropriations Act reimbursements — (398) —
Stabilization Act compensation — — (34)
Other 712 592 707
Total operating expenses 18,310 14,872 15,175
OPERATING LOSS (3,308) (785) (1,309)
OTHER INCOME (EXPENSE):
Interest expense (824) (757) (665)
Interest income 37 36 36
Gain (loss) from sale of investments, net 123 321 (3)
Gain (loss) on extinguishment of debt, net 9 — (42)
Fair value adjustments of SFAS 133 derivatives (31) (9) (39)
Miscellaneous income, net 2 5 20
Total other expense, net (684) (404) (693)
LOSS BEFORE INCOME TAXES (3,992) (1,189) (2,002)
INCOME TAX (PROVISION) BENEFIT (1,206) 416 730
NET LOSS (5,198) (773) (1,272)
PREFERRED STOCK DIVIDENDS (19) (17) (15)
NET LOSS ATTRIBUTABLE TO COMMON SHAREOWNERS $ (5,217) $ (790) $ (1,287)
BASIC AND DILUTED LOSS PER SHARE $ (41.07) $ (6.40) $ (10.44)
The accompanying notes are an integral part of these Consolidated Financial Statements.
F-5