Stock Analysis on Net
Stock Analysis on Net
Microsoft Excel LibreOffice Calc

Delta Air Lines Inc. (NYSE:DAL)

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Analysis of Property, Plant and Equipment

Advanced level

Property, Plant and Equipment Disclosure

Delta Air Lines Inc., balance sheet: property, plant and equipment

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Flight equipment
Ground property and equipment
Information technology-related assets
Flight and ground equipment under finance leases
Advance payments for equipment
Property and equipment, gross
Accumulated depreciation and amortization
Property and equipment, net

Based on: 10-K (filing date: 2020-02-13), 10-K (filing date: 2019-02-15), 10-K (filing date: 2018-02-23), 10-K (filing date: 2017-02-13), 10-K (filing date: 2016-02-05).

Item Description The company
Property and equipment, gross Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Delta Air Lines Inc.’s property and equipment, gross increased from 2017 to 2018 and from 2018 to 2019.
Property and equipment, net Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Delta Air Lines Inc.’s property and equipment, net increased from 2017 to 2018 and from 2018 to 2019.

Asset Age Ratios (Summary)

Delta Air Lines Inc., asset age ratios

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Average age ratio
Estimated total useful life (years)
Estimated age, time elapsed since purchase (years)
Estimated remaining life (years)

Based on: 10-K (filing date: 2020-02-13), 10-K (filing date: 2019-02-15), 10-K (filing date: 2018-02-23), 10-K (filing date: 2017-02-13), 10-K (filing date: 2016-02-05).

Asset age ratio Description The company
Average age ratio As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company’s fixed asset base is old or new. Newer assets are likely to be more efficient. Delta Air Lines Inc.’s average age ratio of depreciable property, plant and equipment deteriorated from 2017 to 2018 but then improved from 2018 to 2019 not reaching 2017 level.
Estimated total useful life Over longer time periods, this ratio is a useful measure of company’s depreciation policy and can be used for comparisons with competitors. Delta Air Lines Inc.’s estimated total useful life of depreciable property, plant and equipment increased from 2017 to 2018 but then slightly decreased from 2018 to 2019 not reaching 2017 level.
Estimated time elapsed since purchase The approximate age in years of a company’s fixed assets. Useful for comparison purposes. Delta Air Lines Inc.’s estimated time elapsed since purchase of depreciable property, plant and equipment deteriorated from 2017 to 2018 but then improved from 2018 to 2019 not reaching 2017 level.
Estimated remaining life Delta Air Lines Inc.’s estimated remaining life of depreciable property, plant and equipment increased from 2017 to 2018 but then decreased significantly from 2018 to 2019.

Average Age

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Accumulated depreciation and amortization
Property and equipment, gross
Asset Age Ratio
Average age1

Based on: 10-K (filing date: 2020-02-13), 10-K (filing date: 2019-02-15), 10-K (filing date: 2018-02-23), 10-K (filing date: 2017-02-13), 10-K (filing date: 2016-02-05).

2019 Calculations

1 Average age = 100 × Accumulated depreciation and amortization ÷ Property and equipment, gross
= 100 × ÷ =

Asset age ratio Description The company
Average age As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company’s fixed asset base is old or new. Newer assets are likely to be more efficient. Delta Air Lines Inc.’s average age ratio of depreciable property, plant and equipment deteriorated from 2017 to 2018 but then improved from 2018 to 2019 not reaching 2017 level.

Estimated Total Useful Life

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Property and equipment, gross
Depreciation and amortization expense related to property and equipment
Asset Age Ratio (Years)
Estimated total useful life1

Based on: 10-K (filing date: 2020-02-13), 10-K (filing date: 2019-02-15), 10-K (filing date: 2018-02-23), 10-K (filing date: 2017-02-13), 10-K (filing date: 2016-02-05).

2019 Calculations

1 Estimated total useful life = Property and equipment, gross ÷ Depreciation and amortization expense related to property and equipment
= ÷ =

Asset age ratio Description The company
Estimated total useful life Over longer time periods, this ratio is a useful measure of company’s depreciation policy and can be used for comparisons with competitors. Delta Air Lines Inc.’s estimated total useful life of depreciable property, plant and equipment increased from 2017 to 2018 but then slightly decreased from 2018 to 2019 not reaching 2017 level.

Estimated Age, Time Elapsed since Purchase

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Accumulated depreciation and amortization
Depreciation and amortization expense related to property and equipment
Asset Age Ratio (Years)
Time elapsed since purchase1

Based on: 10-K (filing date: 2020-02-13), 10-K (filing date: 2019-02-15), 10-K (filing date: 2018-02-23), 10-K (filing date: 2017-02-13), 10-K (filing date: 2016-02-05).

2019 Calculations

1 Time elapsed since purchase = Accumulated depreciation and amortization ÷ Depreciation and amortization expense related to property and equipment
= ÷ =

Asset age ratio Description The company
Estimated time elapsed since purchase The approximate age in years of a company’s fixed assets. Useful for comparison purposes. Delta Air Lines Inc.’s estimated time elapsed since purchase of depreciable property, plant and equipment deteriorated from 2017 to 2018 but then improved from 2018 to 2019 not reaching 2017 level.

Estimated Remaining Life

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Property and equipment, net
Depreciation and amortization expense related to property and equipment
Asset Age Ratio (Years)
Estimated remaining life1

Based on: 10-K (filing date: 2020-02-13), 10-K (filing date: 2019-02-15), 10-K (filing date: 2018-02-23), 10-K (filing date: 2017-02-13), 10-K (filing date: 2016-02-05).

2019 Calculations

1 Estimated remaining life = Property and equipment, net ÷ Depreciation and amortization expense related to property and equipment
= ÷ =

Asset age ratio Description The company
Estimated remaining life Delta Air Lines Inc.’s estimated remaining life of depreciable property, plant and equipment increased from 2017 to 2018 but then decreased significantly from 2018 to 2019.