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TableofContents
DELTAAIRLINES,INC.
ConsolidatedStatementsofCashFlows
YearEndedDecember31,
(inmillions) 2015
2014
2013
CashFlowsFromOperatingActivities:
Netincome $ 4,526
$ 659
$ 10,540
Adjustmentstoreconcilenetincometonetcashprovidedbyoperatingactivities:
Depreciationandamortization 1,835
1,771
1,658
Hedgederivativecontracts (1,366)
2,186
(86)
Deferredincometaxes 2,581
414
(7,991)
Pension,postretirementandpostemploymentpaymentsgreaterthanexpense (1,013)
(723)
(624)
Restructuringandother 35
758
285
Extinguishmentofdebt 22
268
—
Equityinvestment(earnings)loss (35)
106
(24)
SkyMilesusedpursuanttoadvancepurchaseunderAmericanExpressAgreements —
—
(333)
Changesincertainassetsandliabilities:
Receivables (56)
(302)
90
Restrictedcashandcashequivalents 7
62
231
Fuelinventory 155
172
(87)
Hedgemargin 806
(922)
14
Prepaidexpensesandothercurrentassets (102)
58
28
Airtrafficliability 207
174
426
Frequentflyerdeferredrevenue (301)
(238)
(121)
Profitsharing 734
264
133
Accountspayableandaccruedliabilities (201)
(36)
80
Other,net 93
276
285
Netcashprovidedbyoperatingactivities 7,927
4,947
4,504
CashFlowsFromInvestingActivities:
Propertyandequipmentadditions:
Flightequipment,includingadvancepayments (2,223)
(1,662)
(2,117)
Groundpropertyandequipment,includingtechnology (722)
(587)
(404)
Purchaseofequityinvestments (500)
—
(360)
Purchaseofshort-terminvestments (998)
(1,795)
(959)
Redemptionofshort-terminvestments 739
1,533
1,117
AcquisitionofLondon-Heathrowslots (276)
—
(47)
Other,net 25
48
14
Netcashusedininvestingactivities (3,955)
(2,463)
(2,756)
CashFlowsFromFinancingActivities:
Paymentsonlong-termdebtandcapitalleaseobligations (2,558)
(2,928)
(1,461)
Repurchaseofcommonstock (2,200)
(1,100)
(250)
Cashdividends (359)
(251)
(102)
Fuelcardobligation (340)
(41)
147
Paymentsonhedgederivativecontracts (71)
—
—
Proceedsfromhedgederivativecontracts 429
—
—
Proceedsfromlong-termobligations 1,038
1,020
268
Other,net (27)
60
78
Netcashusedinfinancingactivities (4,088)
(3,240)
(1,320)
Net(Decrease)IncreaseinCashandCashEquivalents (116)
(756)
428
Cashandcashequivalentsatbeginningofperiod 2,088
2,844
2,416
Cashandcashequivalentsatendofperiod $ 1,972
$ 2,088
$ 2,844
SupplementalDisclosureofCashPaidforInterest $ 452
$ 560
$ 698
Non-CashTransactions: