Delta Airlines 2012 Annual Report Download - page 102

ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE
None.
ITEM 9A. CONTROLS AND PROCEDURES
Disclosure Controls and Procedures
Our management, including our Chief Executive Officer and Chief Financial Officer, performed an evaluation of our disclosure controls and
procedures, which have been designed to permit us to record, process, summarize and report, within time periods specified by the SEC's rules and
forms, information required to be disclosed. Our management, including our Chief Executive Officer and Chief Financial Officer, concluded that the
controls and procedures were effective as of December 31, 2012 to ensure that material information was accumulated and communicated to our
management, including our Chief Executive Officer and Chief Financial Officer, as appropriate to allow timely decisions regarding required
disclosure.
Changes in Internal Control
Except as set forth below, during the three months ended December 31, 2012 , we did not make any changes in our internal control over financial
reporting that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
In June 2012, our wholly-owned subsidiaries, Monroe Energy, LLC and MIPC, LLC, acquired an oil refinery located near Philadelphia,
Pennsylvania. Management is currently evaluating policies, processes, technology and operations for the refinery and related assets. Management
will continue to evaluate our internal control over financial reporting as we review the oil refinery activities.
Management's Annual Report on Internal Control Over Financial Reporting
Management is responsible for establishing and maintaining adequate internal control over financial reporting, as such term is defined in Rules
13a-15(f) and 15d-15(f) under the Securities Exchange Act of 1934. Our internal control over financial reporting is designed to provide reasonable
assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with
accounting principles generally accepted in the United States of America.
Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Projections of any evaluation
of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of
compliance with the policies may deteriorate.
Management conducted an evaluation of the effectiveness of our internal control over financial reporting as of December 31, 2012 using the
criteria issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) in Internal Control-Integrated Framework.
Based on that evaluation, management believes that our internal control over financial reporting was effective as of December 31, 2012 .
The effectiveness of our internal control over financial reporting as of December 31, 2012 has been audited by Ernst & Young LLP, an
independent registered public accounting firm, which also audited our Consolidated Financial Statements for the year ended December 31, 2012 .
Ernst & Young LLP's report on our internal control over financial reporting is set forth below.
95