Delta Airlines 2008 Annual Report Download - page 72

Table of Contents
Index to Financial Statements
DELTA AIR LINES, INC.
Consolidated Balance Sheets
December 31,
(in millions) 2008 2007
ASSETS
Current Assets:
Cash and cash equivalents $ 4,255 $ 2,648
Short-term investments 212 138
Restricted cash and cash equivalents 429 520
Accounts receivable, net of an allowance for uncollectible accounts of $42 and $26 at December 31, 2008 and 2007, respectively 1,443 1,066
Hedge margin receivable 1,139 —
Expendable parts and supplies inventories, net of an allowance for obsolescence of $32 and $11 at December 31, 2008 and 2007,
respectively 388 262
Deferred income taxes, net 401 142
Prepaid expenses and other 637 464
Total current assets 8,904 5,240
Property and Equipment, Net 20,627 11,701
Other Assets:
Goodwill 9,731 12,104
Identifiable intangibles, net of accumulated amortization of $354 and $147 at December 31, 2008 and 2007, respectively 4,944 2,806
Other noncurrent assets 808 572
Total other assets 15,483 15,482
Total assets $45,014 $32,423
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
Current maturities of long-term debt and capital leases $ 1,160 $ 1,014
Air traffic liability 3,315 1,982
Frequent flyer deferred revenue 1,624 1,055
Accounts payable 1,604 839
Hedge derivatives liability 1,247 —
Accrued salaries and related benefits 972 734
Taxes payable 565 323
Note payable — 295
Other accrued liabilities 535 363
Total current liabilities 11,022 6,605
Noncurrent Liabilities:
Long-term debt and capital leases 15,411 7,986
Pension, postretirement and related benefits 10,895 3,867
Frequent flyer deferred revenue 3,489 2,276
Deferred income taxes, net 1,981 855
Other noncurrent liabilities 1,342 721
Total noncurrent liabilities 33,118 15,705
Commitments and Contingencies
Stockholders' Equity:
Common stock:
Common stock at $0.0001 par value; 1,500,000,000 shares authorized, 702,685,427 and 299,464,669 shares issued at December 31,
2008 and 2007, respectively — —
Additional paid-in capital 13,714 9,512
(Accumulated deficit) retained earnings (8,608) 314
Accumulated other comprehensive (loss) income (4,080) 435
Treasury stock, at cost, 7,548,543 and 7,238,973 shares at December 31, 2008 and 2007, respectively (152) (148)
Total stockholders' equity 874 10,113
Total liabilities and stockholders' equity $45,014 $32,423
The accompanying notes are an integral part of these Consolidated Financial Statements.
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