Delta Airlines 2007 Annual Report Download - page 68

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Table of Contents
Index to Financial Statements
DELTA AIR LINES, INC.
Consolidated Statements of Shareowners' Equity (Deficit)
(in millions, except share data)
Common
Stock
Additional
Paid-In
Capital
Retained
Earnings
(Accumulated
Deficit)
Accumulated
Other
Comprehensive
Income (Loss)
Treasury
Stock Total
Balance at January 1, 2005 (Predecessor) $ 286 $ 3,052 $ (4,373) $ (2,358) $ (2,403) $ (5,796)
Comprehensive loss:
Net loss — — (3,818) — — (3,818)
Other comprehensive loss — — — (364) — (364)
Total comprehensive loss (See Note 13) (4,182)
Dividends on Series B ESOP Convertible Preferred Stock allocated shares — — (18) — — (18)
Transfer of 34,378 shares of common from Treasury under stock incentive and other equity plans ($47.20
per share(1)) — (2) — — 2 —
Transfer of 38,140,673 shares of common from Treasury under ESOP ($47.20 per share(1)) — (1,738) — — 1,800 62
Issuance of 11,336,203 shares of common stock related to Delta's transformation plan ($3.40 per share) 5 34 — — — 39
Amendment to Certificate of Incorporation to increase number of authorized shares of common stock from
450 million to 900 million and to decrease par value from $1.50 per share to $.01 per share (289) 289 — — — —
Balance at December 31, 2005 (Predecessor) 2 1,635 (8,209) (2,722) (601) (9,895)
Comprehensive loss:
Net loss — — (6,203) — — (6,203)
Other comprehensive income — — — 1,780 — 1,780
Total comprehensive loss (See Note 13) (4,423)
Adoption of SFAS 158, net of tax — — — 424 — 424
Dividends on Series B ESOP Convertible Preferred Stock allocated shares — — (2) — — (2)
Compensation expense associated with vesting stock options — 8 — — — 8
Compensation expense associated with the rejection of stock options — 55 — — — 55
Transfer of 7,996,125 shares of common from Treasury under ESOP ($47.20 per share(1)) — (137) — — 377 240
Balance at December 31, 2006 (Predecessor) 2 1,561 (14,414) (518) (224) (13,593)
Impact of adoption of FIN 48 (See Note 2) — — (30) — — (30)
Balance at January 1, 2007 (Predecessor) 2 1,561 (14,444) (518) (224) (13,623)
Comprehensive income:
Net income from January 1 to April 30, 2007 — — 1,298 — — 1,298
Other comprehensive income — — — 75 — 75
Total comprehensive income (See Note 13) 1,373
Balance at April 30, 2007 (Predecessor) 2 1,561 (13,146) (443) (224) (12,250)
Fresh start adjustments:
Cancellation of Predecessor common stock (2) (1,561) — — 224 (1,339)
Elimination of Predecessor accumulated deficit and accumulated other comprehensive loss — — 13,146 443 — 13,589
Reorganization value ascribed to Successor — 9,400 — — — 9,400
Balance at May 1, 2007 (Successor) — 9,400 — — — 9,400
Issuance of 299,464,669 shares of common stock ($0.0001 per share), including 7,238,973 shares held in
Treasury ($20.52 per share)(1) — — — — (148) (148)
Comprehensive income:
Net income from May 1 to December 31, 2007 — — 314 — — 314
Other comprehensive income — — — 435 — 435
Total comprehensive income (See Note 13) 749
Compensation expense associated with equity awards — 112 — — — 112
Balance at December 31, 2007 (Successor) $ — $ 9,512 $ 314 $ 435 $ (148) $ 10,113
(1) Weighted average price per share
The accompanying notes are an integral part of these Consolidated Financial Statements.
F-8