Delta Airlines 2008 Annual Report Download - page 92
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Table of Contents
Index to Financial Statements
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Assets Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Level 3)
2008
(in millions)
Short-term
Investments
Long-term
Investments
Hedge
Derivatives
Liability,
Net
Balance at December 31, 2007 $ 107 $ — $ —
Redesignation (107) 107 —
Assets acquired and liabilities assumed from Northwest 246 45 (567)
Transfers to Level 3 831 — 53
Change in fair value included in earnings (13) (24) (203)
Change in fair value included in other comprehensive income — (7) (1,298)
Purchases and settlements, net (852) — 924
Balance at December 31, 2008 $ 212 $ 121 $ (1,091)
Losses included in earnings attributable to the change in unrealized losses relating to assets still held at December 31,
2008 $ (13) $ (24) $ (96)
Losses included in earnings above for the year ended December 31, 2008 are recorded on our Consolidated Statement of Operations as follows:
(in millions)
Fuel Expense
and Related
Taxes
Other
(Expense)
Income
Total losses included in earnings $ (176) $ (64)
Change in unrealized losses relating to assets still held at December 31, 2008 $ (91) $ (42)
2007
(in millions)
Short-term
Investments
Balance at May 1, 2007 (Successor) $ —
Transfers to Level 3 110
Impairment included in earnings (3)
Balance at December 31, 2007 (Successor) $ 107
Losses included in other (expense) income on our Consolidated Statement of Operations attributable to the change in unrealized losses relating to
assets still held at December 31, 2007 $ (3)
F-22