Delta Airlines 2005 Annual Report Download - page 68

Download and view the complete annual report

Please find page 68 of the 2005 Delta Airlines annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 142

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142

Table of Contents
Delta Air Lines, Inc.
Debtor and Debtor-In-Possession
Consolidated Statements of Cash Flows
For the years ended December 31, 2005, 2004 and 2003
(in millions) 2005 2004 2003
Cash Flows From Operating Activities:
Net loss $ (3,818) $ (5,198) $ (773)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Asset and other writedowns 14 1,915 47
Depreciation and amortization 1,273 1,244 1,230
Deferred income taxes (41) 1,206 (416)
Pension, postretirement and postemployment expense in excess of (less than) payments 896 (121) 532
Reorganization items 884 — —
Gain on extinguishment of debt, net (9) (9) —
Dividends in excess of income from equity method investments — — 30
Loss (gain) from sale of investments, net 1 (123) (321)
Changes in certain current assets and liabilities:
Decrease (increase) in short-term investments, net 336 204 (311)
(Increase) decrease in receivables (122) (27) 317
Increase in prepaid expenses and other current assets (67) (151) (90)
Increase in air traffic liability 145 259 38
Increase (decrease) in other payables, deferred credits and accrued liabilities 667 (233) (276)
Other, net 16 26 237
Net cash provided by (used in) operating activities 175 (1,008) 244
Cash Flows From Investing Activities:
Property and equipment additions:
Flight equipment, including advance payments (570) (373) (382)
Ground property and equipment, including technology (244) (387) (362)
Decrease in restricted investments related to the Boston airport terminal project 81 159 131
Proceeds from sales of flight equipment 425 234 15
Proceeds from sale of wholly owned subsidiary, net of cash remaining with subsidiary 417 — —
Proceeds from sales of investments 1 146 325
Increase in restricted cash (578) (115) (102)
Other, net 8 1 13
Net cash used in investing activities (460) (335) (362)
Cash Flows From Financing Activities:
Proceeds from long-term obligations 295 2,123 1,774
Proceeds from DIP financing 2,250 — —
Payments on long-term debt and capital lease obligations (1,615) (1,452) (802)
Payments on DIP financing (50) — —
Make-whole payments on extinguishment of ESOP Notes — — (15)
Payment on termination of accounts receivable securitization — — (250)
Cash dividends — — (19)
Other, net (50) (35) (140)
Net cash provided by financing activities 830 636 548
Net Increase (Decrease) In Cash and Cash Equivalents 545 (707) 430
Cash and cash equivalents at beginning of year 1,463 2,170 1,740
Cash and cash equivalents at end of year $ 2,008 $ 1,463 $ 2,170
Supplemental disclosure of cash paid (refunded) for:
Interest, net of amounts capitalized $ 783 $ 768 $ 715
Income taxes $ 2 $ — $ (402)
Non-cash transactions:
Aircraft delivered under seller-financing $ 251 $ 314 $ 718
Dividends payable on ESOP preferred stock $ 15 $ 22 $ 13
Current maturities of long-term debt exchanged for shares of common stock $ 45 $ — $ —
The accompanying notes are an integral part of these Consolidated Financial Statements.
F-6