Delta Airlines 2006 Annual Report Download - page 63

Delta Air Lines, Inc.
Debtor and Debtor-In-Possession
Consolidated Statements of Cash Flows
For the years ended December 31, 2006, 2005 and 2004
(in millions) 2006 2005 2004
Cash Flows From Operating Activities:
Net loss $ (6,203) $ (3,818) $ (5,198)
Adjustments to reconcile net loss to net cash provided by (used in)
operating activities:
Asset and other writedowns 18 14 1,915
Depreciation and amortization 1,276 1,273 1,244
Deferred income taxes (765) (41) 1,206
Pension, postretirement and postemployment expense in excess of
(less than) payments 489 896 (121)
Reorganization items, net 6,206 884 -
Gain on extinguishment of debt, net - (9) (9)
Loss (gain) from sale of investments, net - 1 (123)
Changes in certain current assets and liabilities:
(Increase) decrease in short-term investments, net (614) 336 204
Increase in receivables (152) (122) (27)
Decrease (increase) in restricted cash 116 (482) (15)
Decrease (increase) in prepaid expenses and other current assets 41 (67) (151)
Increase in air traffic liability 86 145 259
Increase (decrease) in accounts payable and other accrued liabilities 154 667 (233)
Other, net 341 16 26
Net cash provided by (used in) operating activities 993 (307) (1,023)
Cash Flows From Investing Activities:
Property and equipment additions:
Flight equipment, including advance payments (265) (570) (373)
Ground property and equipment, including technology (148) (244) (387)
(Increase) decrease in restricted investments related to the Boston airport
terminal project (2) 81 159
Proceeds from sales of flight equipment 40 425 234
Proceeds from sale of wholly owned subsidiary, net of cash remaining
with subsidiary - 417 -
Other, net 14 (87) 47
Net cash (used in) provided by investing activities (361) 22 (320)
Cash Flows From Financing Activities:
Payments on long-term debt and capital lease obligations (600) (1,615) (1,452)
Proceeds from long-term obligations - 295 2,123
Proceeds from DIP financing - 2,250 -
Payments on DIP financing - (50) -
Other, net (6) (50) (35)
Net cash (used in) provided by financing activities (606) 830 636
Net Increase (Decrease) In Cash and Cash Equivalents 26 545 (707)
Cash and cash equivalents at beginning of year 2,008 1,463 2,170
Cash and cash equivalents at end of year $ 2,034 $ 2,008 $ 1,463
Supplemental disclosure of cash paid (refunded) for:
Interest, net of amounts capitalized $ 728 $ 783 $ 768
Professional fee disbursements due to bankruptcy 101 6 -
Interest received due to bankruptcy (109) (15) -
Cash received from aircraft renegotiation (10) - -
Income taxes, net (1) 2 -
Non-cash transactions:
Aircraft delivered under seller-financing $ - $ 251 $ 314
Debt extinguishment from aircraft renegotiation 171 - -
Flight equipment under capital leases 159 - -
Dividends on Series B ESOP Convertible Preferred Stock 2 15 22
Current maturities of long-term debt exchanged for shares of common stock - 45 -