Delta Airlines 2014 Annual Report Download - page 43

Contractual Obligations
The following table summarizes our contractual obligations at December 31, 2014 that we expect will be paid in cash. The table does not include
amounts that are contingent on events or other factors that are uncertain or unknown at this time, including legal contingencies, uncertain tax positions
and amounts payable under collective bargaining arrangements, among others. In addition, the table does not include expected significant cash
payments representing obligations that arise in the ordinary course of business that do not include contractual commitments.
The amounts presented are based on various estimates, including estimates regarding the timing of payments, prevailing interest rates, volumes
purchased, the occurrence of certain events and other factors. Accordingly, the actual results may vary materially from the amounts presented in the
table.
Long-Term Debt, Principal Amount. Represents scheduled principal payments on long-term debt.
Long-Term Debt, Interest Payments. Represents estimated interest payments under our long-term debt based on the interest rates specified in the
applicable debt agreements. Interest payments on variable interest rate debt were calculated using LIBOR at December 31, 2014 .
Operating Lease Payments, Future Aircraft Leases . Represents estimates of lease payments on the remaining 36 B-717-200 aircraft still to be
delivered in 2015 pursuant to our lease agreement with Southwest Airlines and on the subsequent lease agreement with The Boeing Company on our
B-717-200 fleet.
Aircraft Purchase Commitments. Represents our commitments to purchase 69 B-737-900ER, 45 A321-200, 25 A330-900neo, 25 A350-900, 18 B-
787-8, 10 A330-300 and two CRJ-900 aircraft. Our purchase commitment for the 18 B-787-8 aircraft provides for certain aircraft substitution rights.
Contract Carrier Obligations.
Represents our estimated minimum fixed obligations under capacity purchase agreements with regional carriers. The
reported amounts are based on (1) the required minimum levels of flying by our contract carriers under the applicable agreements and (2) assumptions
regarding the costs associated with such minimum levels of flying.
Employee Benefit Obligations. Represents primarily (1) our estimated minimum required funding for our qualified defined benefit pension plans
based on actuarially determined estimates and (2) projected future benefit payments from our unfunded postretirement and postemployment plans. For
additional information about our employee benefit obligations, see “Critical Accounting Policies and Estimates.”
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Contractual Obligations by Year
(1)
(in millions) 2015 2016 2017 2018 2019 Thereafter Total
Long-term debt (see Note 8)
Principal amount
$
1,111
$
1,326
$
2,137
$
2,028
$
1,158
$
1,709
$
9,469
Interest payments
404
335
266
208
130
328
1,671
Capital lease obligations (see Note 9)
Principal amount
108
106
78
40
28
38
398
Interest payments
49
33
19
11
5
4
121
Operating lease payments
Noncancelable payments (see Note 9)
1,707
1,493
1,323
1,120
929
6,169
12,741
Future aircraft leases
25
49
49
47
48
445
663
Aircraft purchase commitments (see Note 12)
1,480
1,970
2,390
2,230
1,060
4,820
13,950
Contract carrier obligations (see Note 12)
2,220
1,930
1,720
1,550
1,430
2,370
11,220
Employee benefit obligations (see Note 11)
770
680
650
740
680
8,320
11,840
Other obligations
630
310
260
180
70
210
1,660
Total
$
8,504
$
8,232
$
8,892
$
8,154
$
5,538
$
24,413
$
63,733
(1)
For additional information, see the Notes to the Consolidated Financial Statements referenced in the table above.