Delta Airlines 2007 Annual Report Download - page 64
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Table of Contents
Index to Financial Statements
DELTA AIR LINES, INC.
Consolidated Balance Sheets—(Continued)
Successor Predecessor
LIABILITIES AND SHAREOWNERS' EQUITY (DEFICIT)
(in millions, except share data)
December 31,
2007
December 31,
2006
CURRENT LIABILITIES:
Current maturities of long-term debt and capital leases $ 1,014 $ 1,503
Air traffic liability 1,982 1,797
Deferred revenue 1,100 363
Accounts payable 1,045 936
Accrued salaries and related benefits 734 405
Taxes payable 320 500
Note payable 295 —
Other accrued liabilities 115 265
Total current liabilities 6,605 5,769
NONCURRENT LIABILITIES:
Long-term debt and capital leases 7,986 6,509
Pension and related benefits 3,002 —
Deferred revenue 2,532 346
Postretirement benefits 865 —
Deferred income taxes, net 855 406
Other noncurrent liabilities 465 368
Total noncurrent liabilities 15,705 7,629
LIABILITIES SUBJECT TO COMPROMISE — 19,817
COMMITMENTS AND CONTINGENCIES
SHAREOWNERS' EQUITY (DEFICIT):
Common stock:
Predecessor common stock at $0.01 par value; 900,000,000 shares authorized, 202,081,648 shares issued at December 31,
2006 — 2
Successor common stock at $0.0001 par value; 1,500,000,000 shares authorized, 299,464,669 shares issued at
December 31, 2007 — —
Additional paid-in capital 9,512 1,561
Retained earnings (accumulated deficit) 314 (14,414)
Accumulated other comprehensive income (loss) 435 (518)
Predecessor stock held in treasury, at cost, 4,745,710 shares at December 31, 2006 — (224)
Successor stock held in treasury, at cost, 7,238,973 shares at December 31, 2007 (148) —
Total shareowners' equity (deficit) 10,113 (13,593)
Total liabilities and shareowners' equity (deficit) $ 32,423 $ 19,622
The accompanying notes are an integral part of these Consolidated Financial Statements.
F-5