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Table of Contents
ITEM 6. SELECTED FINANCIAL DATA
On October 29, 2008, a wholly-owned subsidiary of ours merged with and into Northwest Airlines Corporation. Our Consolidated Financial Statements
include the results of operations of Northwest and its wholly-owned subsidiaries for the period from October 30 to December 31, 2008. For additional
information regarding purchase accounting, see Note 2 of the Notes to the Consolidated Financial Statements.
In September 2005, we and substantially all of our subsidiaries (the "Delta Debtors") filed voluntary petitions for reorganization under Chapter 11 of the
U.S. Bankruptcy Code. On April 30, 2007 (the "Effective Date"), the Delta Debtors emerged from bankruptcy. Upon emergence from Chapter 11, we adopted
fresh start reporting which resulted in our becoming a new entity for financial reporting purposes. Accordingly, consolidated financial data on or after May 1,
2007 is not comparable to the consolidated financial data prior to that date.
References in this Form 10-K to "Successor" refer to Delta on or after May 1, 2007, after giving effect to (1) the cancellation of Delta common stock
issued prior to the Effective Date, (2) the issuance of new Delta common stock and certain debt securities in accordance with the Delta Debtors' Joint Plan of
Reorganization ("Delta's Plan of Reorganization"), and (3) the application of fresh start reporting. References to "Predecessor" refer to Delta prior to May 1,
2007.
The following table presents selected financial and operating data. We derived the Consolidated Summary of Operations and Other Financial and
Statistical Data for (1) the years ended December 31, 2009 and 2008 of the Successor, (2) the eight months ended December 31, 2007 of the Successor, (3) the
four months ended April 30, 2007 of the Predecessor and (4) the years ended December 31, 2006 and 2005 of the Predecessor from our audited consolidated
financial statements.
Consolidated Summary of Operations
Successor Predecessor
Eight Months Four Months
Ended Ended
Year Ended December 31, December 31, April 30, Year Ended December 31,
(in millions, except share data) 2009(1) 2008(2) 2007 2007(3) 2006(4) 2005(5)
Operating revenue $ 28,063 $ 22,697 $ 13,358 $ 5,796 $ 17,532 $ 16,480
Operating expense 28,387 31,011 12,562 5,496 17,474 18,481
Operating (loss) income (324) (8,314) 796 300 58 (2,001)
Interest expense, net (1,251) (613) (276) (248) (801) (973)
Miscellaneous, net (6) (114) 5 27 (19) (1)
(Loss) income before reorganization items, net (1,581) (9,041) 525 79 (762) (2,975)
Reorganization items, net — — — 1,215 (6,206) (884)
(Loss) income before income taxes (1,581) (9,041) 525 1,294 (6,968) (3,859)
Income tax benefit (provision) 344 119 (211) 4 765 41
Net (loss) income (1,237) (8,922) 314 1,298 (6,203) (3,818)
Preferred stock dividends — — — — (2) (18)
Net (loss) income attributable to common stockholders $ (1,237) $ (8,922) $ 314 $ 1,298 $ (6,205) $ (3,836)
Basic (loss) earnings per share $ (1.50) $ (19.08) $ 0.80 $ 6.58 $ (31.58) $ (23.75)
Diluted (loss) earnings per share $ (1.50) $ (19.08) $ 0.79 $ 4.63 $ (31.58) $ (23.75)
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