Delta Airlines 2005 Annual Report Download - page 67

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Table of Contents
Delta Air Lines, Inc.
Debtor and Debtor-In-Possession
Consolidated Statements of Operations
For the years ended December 31, 2005, 2004 and 2003
(in millions, except per share data) 2005 2004 2003
OPERATING REVENUES:
Passenger:
Mainline $11,399 $10,880 $10,393
Regional affiliates 3,225 2,910 2,629
Cargo 524 500 467
Other, net 1,043 945 819
Total operating revenues 16,191 15,235 14,308
OPERATING EXPENSES:
Salaries and related costs 5,058 6,338 6,342
Aircraft fuel 4,271 2,924 1,938
Depreciation and amortization 1,273 1,244 1,230
Contracted services 1,096 999 886
Contract carrier arrangements 1,318 932 784
Landing fees and other rents 863 875 858
Aircraft maintenance materials and outside repairs 776 681 630
Aircraft rent 541 716 727
Passenger commissions and other selling expenses 948 939 911
Passenger service 345 349 325
Impairment of intangible assets — 1,875 —
Restructuring, asset writedowns, pension settlements and related items, net 888 (41) 268
Appropriations Act reimbursements — — (398)
Other 815 712 592
Total operating expenses 18,192 18,543 15,093
OPERATING LOSS (2,001) (3,308) (785)
OTHER INCOME (EXPENSE):
Interest expense (contractual interest expense equals $1,169 for the year ended December 31, 2005) (1,032) (824) (757)
Interest income 59 37 36
(Loss) gain from sale of investments, net (1) 123 321
Gain from extinguishment of debt, net — 9 —
Fair value adjustments of SFAS 133 derivatives 1 (31) (9)
Miscellaneous (expense) income, net (1) 2 5
Total other expense, net (974) (684) (404)
LOSS BEFORE REORGANIZATION ITEMS, NET (2,975) (3,992) (1,189)
REORGANIZATION ITEMS, NET (Note 1) (884) — —
LOSS BEFORE INCOME TAXES (3,859) (3,992) (1,189)
INCOME TAX BENEFIT (PROVISION) 41 (1,206) 416
NET LOSS (3,818) (5,198) (773)
PREFERRED STOCK DIVIDENDS (18) (19) (17)
NET LOSS ATTRIBUTABLE TO COMMON SHAREOWNERS $ (3,836) $ (5,217) $ (790)
BASIC AND DILUTED LOSS PER SHARE $ (23.75) $ (41.07) $ (6.40)
The accompanying notes are an integral part of these Consolidated Financial Statements.
F-5