Name: Delta Air Lines Inc. (NYSE:DAL) | Balance Sheet: Assets
Creator: Stock Analysis on Net

Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Assets: Selected Items

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Current Assets: Selected Items

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Delta Air Lines Inc., consolidated balance sheet: assets

US$ in millions

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Cash and cash equivalents	7,933)	8,307)	2,882)	1,565)	1,814)
Short-term investments	3,386)	5,789)	—)	203)	825)
Accounts receivable, net of an allowance for uncollectible accounts	2,404)	1,396)	2,854)	2,314)	2,377)
Inventories	1,098)	732)	1,251)	1,055)	1,329)
Prepaid expenses and other	1,119)	1,180)	1,262)	1,203)	1,499)
Current assets	15,940)	17,404)	8,249)	6,340)	7,844)
Property and equipment, net of accumulated depreciation and amortization	28,749)	26,529)	31,310)	28,335)	26,563)
Operating lease right-of-use assets	7,237)	5,733)	5,627)	5,994)	—)
Goodwill	9,753)	9,753)	9,781)	9,781)	9,794)
Identifiable intangibles, net of accumulated amortization	6,001)	6,011)	5,163)	4,830)	4,847)
Cash restricted for airport construction	473)	1,556)	636)	1,136)	—)
Equity investments	1,712)	1,665)	2,568)	—)	—)
Deferred income taxes, net	1,294)	1,988)	120)	242)	935)
Other noncurrent assets	1,300)	1,357)	1,078)	3,608)	3,309)
Noncurrent assets	56,519)	54,592)	56,283)	53,926)	45,448)
Total assets	72,459)	71,996)	64,532)	60,266)	53,292)

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).

Total assets exhibited a consistent upward trajectory from 2017 to 2021, increasing from 53,292 million USD to 72,459 million USD. This expansion was characterized by two distinct phases: a steady growth in noncurrent assets through 2019, followed by a substantial surge in liquid current assets starting in 2020.

Liquidity and Current Asset Dynamics: Current assets experienced a significant escalation in 2020, rising to 17,404 million USD from 8,249 million USD in 2019. This spike was primarily driven by a sharp increase in cash and cash equivalents, which peaked at 8,307 million USD in 2020, and short-term investments, which reached 5,789 million USD in the same year. Although current assets decreased slightly to 15,940 million USD by the end of 2021, the overall liquidity position remained markedly higher than the levels observed between 2017 and 2019.
Fixed Assets and Capital Expenditure Trends: Property and equipment, net of accumulated depreciation, grew from 26,563 million USD in 2017 to a peak of 31,310 million USD in 2019. A contraction was observed in 2020, where the value fell to 26,529 million USD, before recovering to 28,749 million USD in 2021. Additionally, operating lease right-of-use assets became a prominent component of the asset base starting in 2018 at 5,994 million USD, eventually increasing to 7,237 million USD by 2021.
Intangible Assets and Noncurrent Holdings: Goodwill remained nearly static across the period, maintaining a value of approximately 9,700 million USD. Identifiable intangible assets showed a steady increase, rising from 4,847 million USD in 2017 to 6,001 million USD in 2021. While total noncurrent assets grew from 45,448 million USD in 2017 to 56,519 million USD in 2021, this growth was influenced by volatility in deferred income taxes and other noncurrent assets, which fluctuated significantly between 2019 and 2021.

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