Delta Airlines 2007 Annual Report Download - page 66

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Table of Contents
Index to Financial Statements
DELTA AIR LINES, INC.
Consolidated Statements of Cash Flow
Successor Predecessor
Eight Months
Ended
December 31,
2007
Four Months
Ended
April 30,
2007
Year Ended
December 31,
(in millions) 2006 2005
Cash Flows From Operating Activities:
Net income (loss) $ 314 $ 1,298 $ (6,203) $ (3,818)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization 778 386 1,276 1,273
Deferred income taxes 211 (4) (765) (41)
Pension, postretirement and postemployment expense (less than) in excess of payments (604) (20) 489 896
Reorganization items, net — (1,215) 6,206 884
Gain on extinguishment of debt, net (30) — — (9)
Changes in certain current assets and liabilities:
Decrease (increase) in short-term investments, net 50 426 (614) 336
Decrease (increase) in receivables 22 (132) (152) (122)
Decrease (increase) in restricted cash 473 (390) 116 (482)
(Increase) decrease in prepaid expenses and other current assets (111) 2 41 (67)
(Decrease) increase in air traffic liability (585) 763 86 145
(Decrease) increase in other payables, deferred revenue and accrued liabilities (359) — 154 667
Other, net 175 (89) 359 31
Net cash provided by (used in) operating activities 334 1,025 993 (307)
Cash Flows From Investing Activities:
Property and equipment additions:
Flight equipment, including advance payments (643) (167) (265) (570)
Ground property and equipment, including technology (185) (41) (148) (244)
Decrease (increase) in restricted cash 129 56 8 (96)
(Increase) decrease in restricted investments related to the Boston airport terminal project — — (2) 81
Proceeds from sales of flight equipment 84 21 40 425
Proceeds from sales of investments 83 34 — —
Proceeds from sale of wholly owned subsidiary, net of cash remaining with subsidiary — — — 417
Other, net 4 — 6 9
Net cash (used in) provided by investing activities (528) (97) (361) 22
Cash Flows From Financing Activities:
Payments on long-term debt and capital lease obligations (1,314) (166) (476) (1,615)
Proceeds from Exit Facilities — 1,500 — —
Proceeds from long-term obligations 2,005 — — 295
Proceeds from DIP Facility — — — 2,250
Payments on DIP Facility — (2,076) (124) (50)
Other, net (19) (50) (6) (50)
Net cash provided by (used in) financing activities 672 (792) (606) 830
Net Increase in Cash and Cash Equivalents 478 136 26 545
Cash and cash equivalents at beginning of period 2,170 2,034 2,008 1,463
Cash and cash equivalents at end of period $ 2,648 $ 2,170 $ 2,034 $ 2,008
Supplemental disclosure of cash paid (refunded) for:
Interest, net of amounts capitalized $ 363 $ 243 $ 728 $ 783
Professional fee disbursements due to bankruptcy — — 101 6
Interest received from the preservation of cash due to Chapter 11 filing — (50) (109) (15)
Cash received from aircraft renegotiation — — (10) —
Income taxes, net — — (1) 2
Non-cash transactions:
Flight equipment — 135 — —
Ground equipment 31 — — —
Aircraft delivered under seller-financing — — — 251
Flight equipment under capital leases 35 13 159 —