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Analysis of Inventory

Difficulty: Advanced

Inventory Accounting Policy

Spare Parts

Inventories of expendable parts related to flight equipment, which cannot be economically repaired, reconditioned or reused after removal from the aircraft, are carried at moving average cost and charged to operations as consumed. An allowance for obsolescence is provided over the remaining useful life of the related fleet. Delta also provides allowances for parts identified as excess or obsolete to reduce the carrying costs to the lower of cost or net realizable value. These parts are assumed to have an estimated residual value of 5% of the original cost.


Refined product, feedstock and blendstock inventories, all of which are finished goods, are carried at recoverable cost. Delta uses jet fuel in the airline operations that is produced by the refinery and procured through the exchange with third parties of gasoline, diesel and other refined products ("non-jet fuel products") the refinery produces. Cost is determined using the first-in, first-out method. Costs include the raw material consumed plus direct manufacturing costs (such as labor, utilities and supplies) incurred and an applicable portion of manufacturing overhead.

Source: 10-K (filing date: 2018-02-23).

Inventory Disclosure

Delta Air Lines Inc., Statement of Financial Position, Inventory

USD $ in millions

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Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
Fuel inventory hidden hidden hidden hidden hidden
Expendable parts and supplies inventories, net of an allowance for obsolescence hidden hidden hidden hidden hidden
Inventories hidden hidden hidden hidden hidden

Based on: 10-K (filing date: 2018-02-23), 10-K (filing date: 2017-02-13), 10-K (filing date: 2016-02-05), 10-K (filing date: 2015-02-11), 10-K (filing date: 2014-02-24).

Item Description The company
Inventories Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer. Delta Air Lines Inc.'s inventories increased from 2015 to 2016 and from 2016 to 2017.