Delta Airlines 2014 Annual Report Download - page 50

The following table shows a reconciliation of CASM (a GAAP measure) to CASM-Ex (a non-
GAAP financial measure). We exclude the following
items from CASM to determine CASM-Ex for the reasons described:
45
•
Aircraft fuel and related taxes.
The volatility in fuel prices impacts the comparability of year-over-year financial performance. The exclusion of
aircraft fuel and related taxes (including our regional carriers) allows investors to better understand and analyze our non-fuel costs and our year-
over-year financial performance.
•
Profit sharing.
We exclude profit sharing because this exclusion allows investors to better understand and analyze our recurring cost
performance and provides a more meaningful comparison of our core operating costs to the airline industry.
•
Restructuring and other.
Because of the variability in restructuring and other, the exclusion of this item is helpful to investors to analyze our
recurring core operational performance in the periods shown.
• Other expenses.
Other expenses include aircraft maintenance and staffing services we provide to third parties, our vacation wholesale operations
and refinery cost of sales to third parties. Because these businesses are not related to the generation of a seat mile, we exclude the costs related
to these sales to provide a more meaningful comparison of the costs of our airline operations to the rest of the airline industry.
Year Ended December 31,
2014 2013
CASM
15.92
¢
1
Items excluded:
Aircraft fuel and related taxes
(5.64
)
(
Profit sharing
(0.45
)
(
Restructuring and other
(0.30
)
(
Other expenses
(0.37
)
(
CASM-Ex
9.16
¢