Stock Analysis on Net

This company has been moved to the archive! The financial data has not been updated since July 13, 2022.

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity 
Quarterly Data

Delta Air Lines Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

Microsoft Excel
Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Current maturities of debt and finance leases 2.59 1.51 2.46 3.15 3.15 4.08 2.41 6.38 7.24 6.31 3.54 3.47 3.65 4.94 2.52 2.14 2.41 4.23 4.21 2.36 2.12 2.02
Current maturities of operating leases 0.97 1.01 0.97 0.87 0.85 0.89 0.94 0.90 1.01 1.12 1.24 1.34 1.35 1.52 1.58 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Air traffic liability 12.92 11.94 8.60 8.58 9.03 6.99 5.62 5.54 6.48 8.14 7.93 9.11 10.58 10.67 7.73 10.06 11.40 11.53 9.17 10.65 12.28 12.46
Accounts payable 7.16 6.52 5.85 5.52 5.22 4.70 3.94 3.04 3.23 4.85 5.06 5.49 5.37 5.20 4.94 5.94 6.72 6.20 6.89 5.89 5.26 4.57
Accrued salaries and related benefits 3.43 3.10 3.39 3.02 2.94 2.99 2.90 2.41 2.50 2.68 5.74 4.93 4.19 3.29 5.45 5.19 4.37 3.54 5.67 5.17 4.36 3.57
Loyalty program deferred revenue 4.00 4.12 3.74 3.60 3.66 3.34 2.47 1.62 1.65 1.60 4.99 5.06 4.88 4.87 4.96 5.34 5.02 5.10 3.42 3.39 3.33 3.30
Fuel card obligation 1.47 1.49 1.52 1.51 1.46 1.51 1.53 1.39 1.16 1.60 1.14 0.69 1.71 1.72 1.78 1.94 1.90 1.96 2.00 0.00 0.00 0.00
Other accrued liabilities 2.65 2.92 2.41 2.49 5.00 3.82 2.32 3.66 4.60 1.90 1.67 1.87 2.14 2.26 1.85 2.42 2.73 4.45 3.49 4.32 4.74 5.09
Current liabilities 35.19% 32.62% 28.93% 28.75% 31.30% 28.31% 22.12% 24.94% 27.89% 28.21% 31.31% 31.97% 33.85% 34.48% 30.83% 33.01% 34.53% 37.01% 34.85% 31.77% 32.10% 31.00%
Debt and finance leases, excluding current maturities 30.62 33.14 34.69 35.07 35.43 35.66 38.09 37.72 26.86 18.42 13.75 12.53 12.33 12.47 13.69 14.75 15.35 11.76 12.37 14.60 15.28 15.91
Noncurrent air traffic liability 0.33 0.41 0.18 0.18 0.19 0.34 0.69 0.30 0.44 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Pension, postretirement and related benefits 7.56 7.95 8.33 11.55 11.48 14.22 14.76 11.73 11.29 12.05 13.10 13.38 13.62 14.69 15.20 16.18 16.22 17.00 18.41 18.42 18.57 20.00
Loyalty program deferred revenue 6.37 6.25 6.69 6.65 6.17 6.63 7.51 7.34 8.01 8.32 5.44 5.53 5.77 5.84 6.06 6.56 6.62 6.72 4.31 4.39 4.40 4.39
Noncurrent operating leases 9.37 9.76 9.74 7.89 7.48 7.62 7.94 7.41 7.43 7.57 8.20 8.61 8.86 9.39 9.63 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Deferred income taxes, net 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.62 2.19 2.26 1.97 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other noncurrent liabilities 5.47 5.82 6.07 6.34 6.26 6.56 6.75 6.32 5.44 2.42 2.15 2.18 3.24 2.26 1.88 4.58 4.24 4.29 3.96 3.85 3.64 3.54
Noncurrent liabilities 59.72% 63.32% 65.70% 67.67% 67.00% 71.03% 75.75% 70.81% 60.09% 50.97% 44.89% 44.20% 43.82% 44.64% 46.46% 42.07% 42.42% 39.77% 39.05% 41.27% 41.89% 43.84%
Total liabilities 94.91% 95.94% 94.64% 96.42% 98.30% 99.34% 97.87% 95.75% 87.97% 79.18% 76.20% 76.17% 77.67% 79.12% 77.29% 75.08% 76.96% 76.78% 73.90% 73.04% 73.99% 74.84%
Common stock at $0.0001 par value 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Additional paid-in capital 15.35 15.54 15.80 15.70 15.13 15.50 15.64 14.22 15.49 16.08 17.25 17.68 17.92 18.20 19.37 21.34 21.16 22.13 22.62 23.37 23.70 24.18
Retained earnings (accumulated deficit) -0.47 -1.48 -0.20 0.36 -1.27 -2.20 -0.59 0.41 7.90 16.62 19.30 18.62 17.09 15.61 16.66 17.63 15.86 15.65 18.08 18.30 17.19 15.99
Accumulated other comprehensive loss -9.37 -9.59 -9.84 -12.09 -11.79 -12.26 -12.55 -10.04 -10.98 -11.49 -12.38 -12.09 -12.31 -12.56 -12.98 -13.70 -13.63 -14.20 -14.30 -14.40 -14.57 -14.71
Treasury stock, at cost -0.42 -0.42 -0.39 -0.39 -0.37 -0.38 -0.36 -0.34 -0.38 -0.39 -0.37 -0.37 -0.38 -0.38 -0.33 -0.36 -0.35 -0.36 -0.30 -0.30 -0.30 -0.30
Stockholders’ equity 5.09% 4.06% 5.36% 3.58% 1.70% 0.66% 2.13% 4.25% 12.03% 20.82% 23.80% 23.83% 22.33% 20.88% 22.71% 24.92% 23.04% 23.22% 26.10% 26.96% 26.01% 25.16%
Total liabilities and stockholders’ equity 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).


Current maturities of debt and finance leases
Fluctuated over the period, increasing notably during early 2020 reaching a peak of 7.24% in June 2020, then declining significantly by late 2020 and further stabilizing around 2.5% by mid-2022.
Current maturities of operating leases
Data available from 2019 onward shows a consistent downward trend, decreasing from 1.58% to about 0.97% by mid-2022, indicating a reduction in short-term lease liabilities relative to total liabilities and equity.
Air traffic liability
Shows a general decline from 12.46% in Q1 2017 to lows around 5.54% - 5.62% in late 2020, coinciding with reduced activity possibly linked to external factors, followed by a sharp increase back to approximately 12.92% by mid-2022.
Accounts payable
Generally upward trend from 4.57% in early 2017 to 7.16% in mid-2022, reflecting increased obligations to suppliers relative to the total capital structure.
Accrued salaries and related benefits
Exhibits some volatility but remained within a narrow range, dipping during 2020 to near 2.41% and recovering somewhat to around 3.43% by mid-2022.
Loyalty program deferred revenue (current)
Increased from 3.3% in Q1 2017 to a peak near 5.34% in late 2018, then declined sharply during 2020 to around 1.6%, and rebounded moderately to around 4% by mid-2022.
Fuel card obligation
Data from 2017 onward indicates a peak above 2% in early years, declining substantially to below 1% in late 2019 before fluctuating around 1.4% to 1.5% in subsequent years.
Other accrued liabilities
Decreased steadily from over 5% in early 2017 to about 1.67% in late 2019, then spiked sharply in mid-2020 before settling back near 2.65% by mid-2022.
Current liabilities overall
Varied between 22% and 37%, with a peak in early 2018 and a notable dip starting in 2020 reaching the low 20%s, ending higher around 35% by mid-2022, indicating fluctuating short-term obligations.
Debt and finance leases, excluding current maturities
Strong upward trend beginning in early 2020, rising from around 18% to a peak near 38% in late 2020, then gradually decreasing to approximately 31% by mid-2022, signaling increased long-term debt profile during the pandemic period with partial recovery later.
Noncurrent air traffic liability
Remained low throughout available periods, with minor fluctuations between 0.18% and 0.44%, reflecting a small but stable component of long-term liabilities.
Pension, postretirement and related benefits
Demonstrates a steady decline from 20% in early 2017 to below 8% by mid-2022, suggesting a substantial reduction in these liabilities relative to total capital.
Loyalty program deferred revenue (noncurrent)
Increased from about 4.3% to a high over 8% in early 2020, then declined somewhat to stabilize near 6.3% by mid-2022, indicating shifts possibly related to loyalty program adjustments over time.
Noncurrent operating leases
Remained relatively stable, fluctuating near 9% in recent years with slight decline and recovery phases, indicating consistent long-term lease obligations.
Deferred income taxes, net
Limited data shows balances around 2% late in 2019 before disappearing from reporting, making trend assessment limited.
Other noncurrent liabilities
Maintained a generally stable share near 3-4% until 2019, then increased sharply in 2020 to over 6%, and settled around 5.5% by mid-2022, indicating increased miscellaneous long-term obligations during the pandemic period.
Noncurrent liabilities overall
Gradual increase from under 40% in early years to nearly 76% by late 2020, followed by a slow decline to around 60% by mid-2022, showing overall growth in long-term liabilities during the Covid-19 period and subsequent partial normalization.
Total liabilities
Generally rising from about 75% in 2017 to a peak near 98% in late 2020, then moderating slightly to mid-90% levels by mid-2022, reflecting increased leverage or obligations over the period, particularly through the pandemic.
Additional paid-in capital
Declined steadily from 24% in 2017 to approximately 15% by mid-2022, suggesting changes in equity composition or shareholder capital injections relative to total liabilities and equity.
Retained earnings (accumulated deficit)
Fluctuated with growth until early 2020 but experienced a sharp drop during 2020 into negative territory, consistent with significant losses, followed by minor recovery but remaining near breakeven or deficit by mid-2022.
Accumulated other comprehensive loss
Shows gradual improvement (less negative) from -14.7% in 2017 to about -9.4% in mid-2022, implying a reduction in accumulated losses reported outside retained earnings.
Treasury stock
Remained relatively constant at about -0.3% to -0.4%, indicating stable levels of stock repurchased and held in treasury relative to total capital.
Stockholders’ equity overall
Declined significantly from over 25% in early 2017 to a low point around 2% in late 2020, reflecting considerable erosion of equity during the pandemic, with partial recovery to just over 5% by mid-2022.