Delta Airlines 2007 Annual Report Download - page 99

Download and view the complete annual report

Please find page 99 of the 2007 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 140

  • 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

Table of Contents
Index to Financial Statements
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
The following tables summarize, as of December 31, 2007, our minimum rental commitments under capital leases and noncancelable operating leases
(including certain aircraft under contract carrier agreements) with initial terms in excess of one year:
Capital Leases
Years Ending December 31,
(in millions)
2008 $ 128
2009 125
2010 125
2011 118
2012 84
After 2012 112
Total minimum lease payments 692
Less: amount of lease payments representing interest (148)
Present value of future minimum capital lease payments 544
Less: current obligations under capital leases (85)
Long-term capital lease obligations $ 459
Operating Leases
Years Ending December 31,
Delta
Lease
Payments
Contract
Carrier
Agreements
Lease
Payments
Total(in millions)
2008 $ 755 $ 476 $ 1,231
2009 609 453 1,062
2010 548 421 969
2011 417 407 824
2012 358 400 758
After 2012 1,477 2,377 3,854
Total minimum lease payments $ 4,164 $ 4,534 $ 8,698
At December 31, 2007, we operated 137 aircraft under operating leases and 82 aircraft under capital leases. These leases have remaining terms ranging
from 10 months to nine years. During the four months ended April 30, 2007 and the years ended December 31, 2006 and 2005, we recorded estimated claims
relating to the restructuring of the financing arrangements for many of our aircraft and the rejection of certain of our leases. For additional information
regarding these claims, see Note 1.
Note 8. Purchase Commitments and Contingencies
Aircraft Order Commitments
Future commitments for aircraft on firm order as of December 31, 2007 are $3.3 billion. The following table shows the timing of these commitments:
Years Ending December 31,
(in millions)
2008 $1,295
2009 1,248
2010 712
Total $3,255
F-39