Analysis of Inventory
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- Statement of Comprehensive Income
- Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value (EV)
- Dividend Discount Model (DDM)
- Price to Operating Profit (P/OP) since 2007
- Price to Book Value (P/BV) since 2007
- Price to Sales (P/S) since 2007
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Inventory Disclosure
Delta Air Lines Inc., balance sheet: inventory
US$ in millions
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Fuel inventory | |||||||||||
| Expendable parts and supplies inventories, net of an allowance for obsolescence | |||||||||||
| Inventories |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
- Fuel Inventory
- The fuel inventory exhibits a fluctuating trend over the reported periods. Starting at 916 million USD at the end of 2017, it decreased sharply to 592 million USD by the end of 2018. This was followed by a moderate recovery in 2019 to 730 million USD, then a significant decline in 2020 to 377 million USD, likely influenced by external factors impacting fuel consumption or procurement strategies during that year. In 2021, the fuel inventory rebounded to 694 million USD, approaching pre-2019 levels but still below the 2017 figure.
- Expendable Parts and Supplies Inventories
- This inventory category displays a consistent upward trend with some variability. Starting at 413 million USD in 2017, it rose steadily to 463 million USD in 2018 and further to 521 million USD in 2019, indicating increased stock levels or greater procurement of parts and supplies. However, a decline was observed in 2020, reducing to 355 million USD, similar to the drop in fuel inventory during that year. By 2021, the inventory partially recovered to 404 million USD, yet it remained below the 2019 peak.
- Total Inventories
- Total inventories, representing the sum of fuel and expendable parts, closely mirror the combined patterns of the individual components. The aggregate inventory decreased from 1,329 million USD in 2017 to 1,055 million USD in 2018, followed by a rebound to 1,251 million USD in 2019. A notable drop occurred in 2020, reaching 732 million USD, which may reflect operational adjustments or external disruptions during that period. In 2021, inventories increased again to 1,098 million USD, though they remained somewhat below the preceding peaks.