Financial Analysis of Delta Airlines

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DELTA AIR LINES, INC.
Consolidated Balance Sheets
 
| | | | | | | | | | |  |   |December 31, | | |(in millions) |   |2008 | |  |2007 | | |ASSETS |   | | | |  | | | | |Cash and cash equivalents |   |$|4,255 | |  |$|2,648 | | |Restricted cash and cash equivalents |   | |429 | |  | |520 | | |Hedge margin receivable |   | |1,139 | |  | |—   | | |Deferred income taxes, net |   | |401 | |  | |142 | | | |   | |  | |  | |  | | |Total current assets |   | |8,904 | |  | |5,240 | | |Property and Equipment, Net |   | |20,627 | |  | |11,701 | | | |   | |  | |  | |  | | |Other Assets: |   | | | |  | | | | |Identifiable intangibles, net of accumulated amortization of $354 and $147 at December 31, 2008 and|   | |4,944 | |  | |2,806 | | |2007, respectively | | | | | | | | | | |   | |  | |  | |  | | |Total other assets |   | |15,483 | |  | |15,482 | | |Total assets |   |$|45,014 | |  |$|32,423 | | | |   | |  | |  | |  | | |LIABILITIES AND STOCKHOLDERS’ EQUITY |   | | | |  | | | | |Current maturities of long-term debt and capital leases |   |$|1,160 | |  |$|1,014 | | |Frequent flyer deferred revenue |   | |1,624 | |  | |1,055 | | |Hedge derivatives liability |   | |1,247 | |  | |—   | | |Taxes payable |   | |565 | |  | |323 | | |Other accrued liabilities |   | |535 | |  | |363 | | |Total current liabilities |   | |11,022 | |  | |6,605 | | | |   | |  | |  | |  | | |Noncurrent Liabilities: |   | | | |  | | | | |Pension, postretirement and related benefits |   | |10,895 | |  | |3,867 | | |Deferred income taxes, net...
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