2014 Form 10-K Financial Statement

#000002790415000003 Filed on February 11, 2015

View on sec.gov

Income Statement

Concept 2014 2013 Q4 2013 Q3
Revenue $40.36B $9.076B $10.49B
YoY Change 6.85% 5.51% 5.71%
Cost Of Revenue $25.31B $5.014B $7.553B
YoY Change 20.75% -1.74% 0.99%
Gross Profit $15.05B $4.062B $2.937B
YoY Change -10.47% 16.09% 20.17%
Gross Profit Margin 37.29% 44.76% 28.0%
Selling, General & Admin $10.91B $2.421B $696.0M
YoY Change 10.95% 6.75% 13.36%
% of Gross Profit 72.46% 59.6% 23.7%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.771B $420.0M $418.0M
YoY Change 6.82% 5.26% 6.63%
% of Gross Profit 11.77% 10.34% 14.23%
Operating Expenses $38.16B $3.201B $8.927B
YoY Change 11.01% 5.78% 3.62%
Operating Profit $2.206B $701.0M $1.563B
YoY Change -35.12% 99.15% 19.5%
Interest Expense $650.0M -$206.0M $176.0M
YoY Change -23.71% -11.97% -10.66%
% of Operating Profit 29.47% -29.39% 11.26%
Other Income/Expense, Net -$1.134B -$20.00M -$200.0M
YoY Change 29.9% -21.88%
Pretax Income $1.072B $475.0M $1.363B
YoY Change -57.58% 4218.18% 29.56%
Income Tax $413.0M -$8.004B -$6.000M
% Of Pretax Income 38.53% -1685.05% -0.44%
Net Earnings $659.0M $8.479B $1.369B
YoY Change -93.75% 121028.57% 30.75%
Net Earnings / Revenue 1.63% 93.42% 13.05%
Basic Earnings Per Share $0.79 $10.02 $1.61
Diluted Earnings Per Share $0.78 $9.89 $1.59
COMMON SHARES
Basic Shares Outstanding 836.0M shares 851.0M shares
Diluted Shares Outstanding 845.0M shares 861.0M shares

Balance Sheet

Concept 2014 2013 Q4 2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.305B $3.803B $4.464B
YoY Change -13.09% 12.71% 38.08%
Cash & Equivalents $2.088B $2.844B $3.018B
Short-Term Investments $1.217B $959.0M $1.446B
Other Short-Term Assets $1.779B $3.173B $1.486B
YoY Change -43.93% 45.42% -45.81%
Inventory $852.0M $1.063B $1.032B
Prepaid Expenses
Receivables $2.297B $1.609B $1.969B
Other Receivables $925.0M $3.000M $0.00
Total Short-Term Assets $9.158B $9.651B $8.951B
YoY Change -5.11% 16.67% 9.65%
LONG-TERM ASSETS
Property, Plant & Equipment $21.93B $21.85B $21.30B
YoY Change 0.34% 5.51% 3.39%
Goodwill $9.794B $9.794B
YoY Change 0.0% 0.0%
Intangibles $4.658B $4.675B
YoY Change -0.45% -0.47%
Long-Term Investments $60.00M $360.0M
YoY Change -83.33%
Other Assets $8.521B $1.303B $1.280B
YoY Change 35.36% 19.32% 16.47%
Total Long-Term Assets $44.85B $42.45B $37.05B
YoY Change 5.27% 17.02% 2.37%
TOTAL ASSETS
Total Short-Term Assets $9.158B $9.651B $8.951B
Total Long-Term Assets $44.85B $42.45B $37.05B
Total Assets $54.01B $52.10B $46.00B
YoY Change 3.35% 16.96% 3.71%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.622B $2.300B $2.592B
YoY Change 14.0% 0.31% 11.48%
Accrued Expenses $4.393B $4.176B $2.162B
YoY Change 5.2% 48.72% -12.68%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.184B $1.449B $1.823B
YoY Change -23.46% -3.85% 17.92%
Total Short-Term Liabilities $16.85B $14.15B $14.13B
YoY Change 19.04% 6.65% 6.88%
LONG-TERM LIABILITIES
Long-Term Debt $8.477B $9.396B $10.08B
YoY Change -13.46% -11.35% -9.31%
Other Long-Term Liabilities $19.87B $1.711B $1.709B
YoY Change 19.24% 3.76% -0.12%
Total Long-Term Liabilities $28.35B $26.46B $31.73B
YoY Change 7.14% -20.81% 1.76%
TOTAL LIABILITIES
Total Short-Term Liabilities $16.85B $14.15B $14.13B
Total Long-Term Liabilities $28.35B $26.46B $31.73B
Total Liabilities $45.19B $40.61B $45.86B
YoY Change 11.29% -13.01% 3.29%
SHAREHOLDERS EQUITY
Retained Earnings $3.049B -$5.379B
YoY Change -141.26% -27.26%
Common Stock $13.98B $14.10B
YoY Change -0.62% 0.36%
Preferred Stock
YoY Change
Treasury Stock (at cost) $258.0M $256.0M
YoY Change 10.26% 9.4%
Treasury Stock Shares 18.04M shares 17.98M shares
Shareholders Equity $8.813B $11.64B $137.0M
YoY Change
Total Liabilities & Shareholders Equity $54.01B $52.25B $46.00B
YoY Change 3.35% 17.29% 3.71%

Cashflow Statement

Concept 2014 2013 Q4 2013 Q3
OPERATING ACTIVITIES
Net Income $659.0M $8.479B $1.369B
YoY Change -93.75% 121028.57% 30.75%
Depreciation, Depletion And Amortization $1.771B $420.0M $418.0M
YoY Change 6.82% 5.26% 6.63%
Cash From Operating Activities $4.947B $1.131B $1.161B
YoY Change 9.84% 105.64% 150.76%
INVESTING ACTIVITIES
Capital Expenditures -$2.249B -$952.0M -$631.0M
YoY Change -12.42% 76.95% 48.12%
Acquisitions
YoY Change
Other Investing Activities -$48.00M $4.000M $14.00M
YoY Change 242.86% -20.0% -800.0%
Cash From Investing Activities -$2.463B -$948.0M -$617.0M
YoY Change -10.63% 77.86% 44.16%
FINANCING ACTIVITIES
Cash Dividend Paid $251.0M
YoY Change 146.08%
Common Stock Issuance & Retirement, Net $1.100B
YoY Change 340.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$3.240B -357.0M -491.0M
YoY Change 145.45% -385.6% 63.67%
NET CHANGE
Cash From Operating Activities $4.947B 1.131B 1.161B
Cash From Investing Activities -$2.463B -948.0M -617.0M
Cash From Financing Activities -$3.240B -357.0M -491.0M
Net Change In Cash -$756.0M -174.0M 53.00M
YoY Change -276.64% -222.54% -120.0%
FREE CASH FLOW
Cash From Operating Activities $4.947B $1.131B $1.161B
Capital Expenditures -$2.249B -$952.0M -$631.0M
Free Cash Flow $7.196B $2.083B $1.792B
YoY Change 1.75% 91.45% 101.57%

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CY2011Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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2657000000 USD
CY2012Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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2416000000 USD
CY2013Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2844000000 USD
CY2014Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2088000000 USD
CY2013Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
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2487000000 USD
CY2014Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
1612000000 USD
CY2012 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-241000000 USD
CY2013 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
428000000 USD
CY2014 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-756000000 USD
CY2014 us-gaap Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months
CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths
174000000 USD
CY2013Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2014Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2014Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
27000000 shares
CY2012 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.00
CY2013 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.12
CY2014 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.30
CY2013Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2014Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2013Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
1500000000 shares
CY2014Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
1500000000 shares
CY2013Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
869484981 shares
CY2014Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
845048310 shares
CY2013Q4 us-gaap Common Stock Value
CommonStockValue
0 USD
CY2014Q4 us-gaap Common Stock Value
CommonStockValue
0 USD
CY2012 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-802000000 USD
CY2013 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
13987000000 USD
CY2014 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-1522000000 USD
CY2014Q4 us-gaap Construction In Progress Gross
ConstructionInProgressGross
739000000 USD
CY2014Q4 us-gaap Construction Payable Current And Noncurrent
ConstructionPayableCurrentAndNoncurrent
733000000 USD
CY2012 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0 USD
CY2013 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
-24000000 USD
CY2014 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
-21000000 USD
CY2012 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
14000000 USD
CY2013 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
-1000000 USD
CY2014 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
11000000 USD
CY2012 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
-15000000 USD
CY2013 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
3000000 USD
CY2014Q4 us-gaap Debt Instrument Fair Value
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9800000000 USD
CY2014 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
9000000 USD
CY2013Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
11228000000 USD
CY2014Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
9469000000 USD
CY2014 us-gaap Debt Instrument Collateral
DebtInstrumentCollateral
34
CY2014 us-gaap Debt Instrument Covenant Description
DebtInstrumentCovenantDescription
0.75:1
CY2014Q4 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
1100000000 USD
CY2013Q4 us-gaap Debt Instrument Fair Value
DebtInstrumentFairValue
11600000000 USD
CY2013Q4 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
383000000 USD
CY2014Q4 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
90000000 USD
CY2013Q4 us-gaap Deferred Compensation Cash Based Arrangements Liability Current
DeferredCompensationCashBasedArrangementsLiabilityCurrent
506000000 USD
CY2014Q4 us-gaap Deferred Compensation Cash Based Arrangements Liability Current
DeferredCompensationCashBasedArrangementsLiabilityCurrent
1100000000 USD
CY2010Q1 us-gaap Deferred Compensation Cash Based Arrangements Liability Current
DeferredCompensationCashBasedArrangementsLiabilityCurrent
372000000 USD
CY2012 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
4000000 USD
CY2013 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
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CY2014 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
424000000 USD
CY2012 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
17000000 USD
CY2013 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-7991000000 USD
CY2014 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
414000000 USD
CY2013Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
7142000000 USD
CY2014Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
6791000000 USD
CY2012 us-gaap Deferred Revenue Additions
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675000000 USD
CY2013 us-gaap Deferred Revenue Additions
DeferredRevenueAdditions
675000000 USD
CY2014 us-gaap Deferred Revenue Additions
DeferredRevenueAdditions
675000000 USD
CY2012 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
13000000 USD
CY2013 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-794000000 USD
CY2014 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-10000000 USD
CY2013Q4 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
1965000000 USD
CY2014Q4 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
1824000000 USD
CY2013Q4 us-gaap Deferred Tax Assets Hedging Transactions
DeferredTaxAssetsHedgingTransactions
0 USD
CY2014Q4 us-gaap Deferred Tax Assets Hedging Transactions
DeferredTaxAssetsHedgingTransactions
777000000 USD
CY2013Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
6728000000 USD
CY2014Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
7595000000 USD
CY2013Q4 us-gaap Deferred Tax Assets Liabilities Net Current
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1736000000 USD
CY2014Q4 us-gaap Deferred Tax Assets Liabilities Net Current
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3275000000 USD
CY2013Q4 us-gaap Deferred Tax Assets Liabilities Net Noncurrent
DeferredTaxAssetsLiabilitiesNetNoncurrent
4992000000 USD
CY2014Q4 us-gaap Deferred Tax Assets Liabilities Net Noncurrent
DeferredTaxAssetsLiabilitiesNetNoncurrent
4320000000 USD
CY2013Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
13870000000 USD
CY2014Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
14386000000 USD
CY2013Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
6024000000 USD
CY2014Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
4782000000 USD
CY2013Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
698000000 USD
CY2014Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
659000000 USD
CY2013Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Alternative Minimum Tax
DeferredTaxAssetsTaxCreditCarryforwardsAlternativeMinimumTax
378000000 USD
CY2014Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Alternative Minimum Tax
DeferredTaxAssetsTaxCreditCarryforwardsAlternativeMinimumTax
357000000 USD
CY2013Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits
4982000000 USD
CY2014Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits
6033000000 USD
CY2011Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
10705000000 USD
CY2012Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
10963000000 USD
CY2013Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
177000000 USD
CY2014Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
46000000 USD
CY2013Q4 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets Intangible Assets
DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets
1704000000 USD
CY2014Q4 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets Intangible Assets
DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets
1684000000 USD
CY2013Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
639000000 USD
CY2014Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
444000000 USD
CY2013Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
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4799000000 USD
CY2014Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
4663000000 USD
CY2014 us-gaap Defined Benefit Plan Actuarial Gain Loss
DefinedBenefitPlanActuarialGainLoss
-3300000000 USD
CY2014 us-gaap Defined Benefit Plan Amount To Be Amortized From Accumulated Other Comprehensive Income Loss Next Fiscal Year
DefinedBenefitPlanAmountToBeAmortizedFromAccumulatedOtherComprehensiveIncomeLossNextFiscalYear
230000000 USD
CY2013Q4 us-gaap Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Discount Rate
DefinedBenefitPlanAssumptionsUsedCalculatingBenefitObligationDiscountRate
0.0501
CY2014Q4 us-gaap Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Discount Rate
DefinedBenefitPlanAssumptionsUsedCalculatingBenefitObligationDiscountRate
0.0414
CY2014 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Expected Long Term Return On Assets
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostExpectedLongTermReturnOnAssets
0.09 Rate
CY2014 us-gaap Defined Benefit Plan Description Of Direction And Pattern Of Change For Assumed Health Care Cost Trend Rate
DefinedBenefitPlanDescriptionOfDirectionAndPatternOfChangeForAssumedHealthCareCostTrendRate
0.05
CY2013Q4 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
DefinedBenefitPlanFairValueOfPlanAssets
9880000000 USD
CY2014Q4 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
DefinedBenefitPlanFairValueOfPlanAssets
10351000000 USD
CY2014 us-gaap Defined Benefit Plan Ultimate Health Care Cost Trend Rate
DefinedBenefitPlanUltimateHealthCareCostTrendRate
0.01
CY2012 us-gaap Depreciation And Amortization
DepreciationAndAmortization
1565000000 USD
CY2013 us-gaap Depreciation And Amortization
DepreciationAndAmortization
1658000000 USD
CY2014 us-gaap Depreciation And Amortization
DepreciationAndAmortization
1771000000 USD
CY2012 us-gaap Depreciation Nonproduction
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1500000000 USD
CY2013 us-gaap Depreciation Nonproduction
DepreciationNonproduction
1600000000 USD
CY2014 us-gaap Depreciation Nonproduction
DepreciationNonproduction
1700000000 USD
CY2013Q4 us-gaap Derivative Assets Current
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585000000 USD
CY2014Q4 us-gaap Derivative Assets Current
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1078000000 USD
CY2013Q4 us-gaap Derivative Collateral Obligation To Return Cash
DerivativeCollateralObligationToReturnCash
65000000 USD
CY2014Q4 us-gaap Derivative Collateral Right To Reclaim Cash
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925000000 USD
CY2013Q4 us-gaap Derivative Fair Value Of Derivative Net
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504000000 USD
CY2014Q4 us-gaap Derivative Fair Value Of Derivative Net
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-1782000000 USD
CY2012 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
209000000 USD
CY2013 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
86000000 USD
CY2014 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-2186000000 USD
CY2013Q4 us-gaap Derivative Instruments And Hedges
DerivativeInstrumentsAndHedges
3000000 USD
CY2014Q4 us-gaap Derivative Instruments And Hedges
DerivativeInstrumentsAndHedges
925000000 USD
CY2012 us-gaap Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net
DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet
-15000000 USD
CY2013 us-gaap Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net
DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet
135000000 USD
CY2014 us-gaap Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net
DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet
127000000 USD
CY2012 us-gaap Derivative Instruments Gain Loss Recognized In Other Comprehensive Income Effective Portion Net
DerivativeInstrumentsGainLossRecognizedInOtherComprehensiveIncomeEffectivePortionNet
211000000 USD
CY2013 us-gaap Derivative Instruments Gain Loss Recognized In Other Comprehensive Income Effective Portion Net
DerivativeInstrumentsGainLossRecognizedInOtherComprehensiveIncomeEffectivePortionNet
161000000 USD
CY2014 us-gaap Derivative Instruments Gain Loss Recognized In Other Comprehensive Income Effective Portion Net
DerivativeInstrumentsGainLossRecognizedInOtherComprehensiveIncomeEffectivePortionNet
4000000 USD
CY2013Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
146000000 USD
CY2014Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
2772000000 USD
CY2014Q4 us-gaap Derivative Liability Fair Value Of Collateral
DerivativeLiabilityFairValueOfCollateral
250000000 USD
CY2013 us-gaap Dividends
Dividends
102000000 USD
CY2014 us-gaap Dividends
Dividends
252000000 USD
CY2012 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.20
CY2013Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.01
CY2013Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.81
CY2013Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.61
CY2013Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
10.02
CY2013 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
12.41
CY2014Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.25
CY2014Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.95
CY2014Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.43
CY2014Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.86
CY2014 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.79
CY2012 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.19
CY2013Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.01
CY2013Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.80
CY2013Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.59
CY2013Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
9.89
CY2013 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
12.29
CY2014Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.25
CY2014Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.94
CY2014Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.42
CY2014Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.86
CY2014 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.78
CY2012 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.015 Rate
CY2013 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-3.172 Rate
CY2014 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.385 Rate
CY2012 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.350 Rate
CY2013 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.350 Rate
CY2014 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.350 Rate
CY2012 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.408 Rate
CY2013 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-3.675 Rate
CY2014 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.024 Rate
CY2012 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.040 Rate
CY2013 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.004 Rate
CY2014 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.039 Rate
CY2012 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.033 Rate
CY2013 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.030 Rate
CY2014 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.020 Rate
CY2013Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1926000000 USD
CY2014Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2266000000 USD
CY2014Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
56000000 USD
CY2012 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
0 USD
CY2013 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
0 USD
CY2014 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
0 USD
CY2014 us-gaap Extinguishment Of Debt Amount
ExtinguishmentOfDebtAmount
1600000000 USD
CY2014 us-gaap Fair Value Measurements Significant Assumptions
FairValueMeasurementsSignificantAssumptions
Volatilities used in these valuations ranged from 26% to 57% depending on the maturity dates, underlying commodities and strike prices of the option contracts.
CY2013Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
738000000 USD
CY2014Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
793000000 USD
CY2014Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
18000000 USD
CY2014Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
16000000 USD
CY2014Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
17000000 USD
CY2014Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
17000000 USD
CY2014Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
18000000 USD
CY2013Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
976000000 USD
CY2014Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
976000000 USD
CY2013Q4 us-gaap Foreign Currency Cash Flow Hedge Derivative At Fair Value Net
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257000000 USD
CY2014Q4 us-gaap Foreign Currency Cash Flow Hedge Derivative At Fair Value Net
ForeignCurrencyCashFlowHedgeDerivativeAtFairValueNet
73000000 USD
CY2013Q4 us-gaap Frequent Flier Liability Current
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1861000000 USD
CY2014Q4 us-gaap Frequent Flier Liability Current
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1580000000 USD
CY2013Q4 us-gaap Frequent Flier Liability Noncurrent
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2559000000 USD
CY2014Q4 us-gaap Frequent Flier Liability Noncurrent
FrequentFlierLiabilityNoncurrent
2602000000 USD
CY2012 us-gaap Fuel Costs
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10150000000 USD
CY2013 us-gaap Fuel Costs
FuelCosts
9397000000 USD
CY2014 us-gaap Fuel Costs
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11668000000 USD
CY2012 us-gaap Gain Loss On Investments
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-3000000 USD
CY2013 us-gaap Gain Loss On Investments
GainLossOnInvestments
-19000000 USD
CY2014 us-gaap Gain Loss On Investments
GainLossOnInvestments
10000000 USD
CY2012 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-118000000 USD
CY2013 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 USD
CY2014 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-268000000 USD
CY2013Q4 us-gaap Goodwill
Goodwill
9794000000 USD
CY2014Q4 us-gaap Goodwill
Goodwill
9794000000 USD
CY2012Q2 us-gaap Grants Receivable
GrantsReceivable
30000000 USD
CY2012 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1025000000 USD
CY2013 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
2527000000 USD
CY2014 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1072000000 USD
CY2012 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
0 USD
CY2013 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
24000000 USD
CY2014 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-106000000 USD
CY2012 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
16000000 USD
CY2013 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-8013000000 USD
CY2014 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
413000000 USD
CY2012 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
899000000 USD
CY2013 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
213000000 USD
CY2014 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
228000000 USD
CY2012 us-gaap Increase Decrease In Air Traffic Liability1
IncreaseDecreaseInAirTrafficLiability1
216000000 USD
CY2013 us-gaap Increase Decrease In Air Traffic Liability1
IncreaseDecreaseInAirTrafficLiability1
426000000 USD
CY2014 us-gaap Increase Decrease In Air Traffic Liability1
IncreaseDecreaseInAirTrafficLiability1
174000000 USD
CY2012 us-gaap Increase Decrease In Frequent Flyer Liability
IncreaseDecreaseInFrequentFlyerLiability
-115000000 USD
CY2013 us-gaap Increase Decrease In Frequent Flyer Liability
IncreaseDecreaseInFrequentFlyerLiability
-121000000 USD
CY2014 us-gaap Increase Decrease In Frequent Flyer Liability
IncreaseDecreaseInFrequentFlyerLiability
-238000000 USD
CY2012 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
451000000 USD
CY2013 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
87000000 USD
CY2014 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-172000000 USD
CY2012 us-gaap Increase Decrease In Margin Deposits Outstanding
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CY2014Q3 us-gaap Quarterly Financial Information Quarterly Charges And Credits Amount Affecting Comparability
QuarterlyFinancialInformationQuarterlyChargesAndCreditsAmountAffectingComparability
-1058000000 USD
CY2014Q4 us-gaap Quarterly Financial Information Quarterly Charges And Credits Amount Affecting Comparability
QuarterlyFinancialInformationQuarterlyChargesAndCreditsAmountAffectingComparability
-2157000000 USD
CY2013Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
1609000000 USD
CY2014Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
2297000000 USD
CY2012 us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
2864000000 USD
CY2013 us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
1461000000 USD
CY2014 us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
2928000000 USD
CY2012 us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
184000000 USD
CY2013 us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
285000000 USD
CY2014 us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
758000000 USD
CY2012 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
452000000 USD
CY2013 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
402000000 USD
CY2014 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
716000000 USD
CY2013Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
3049000000 USD
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
3456000000 USD
CY2012 us-gaap Revenues
Revenues
36670000000 USD
CY2013Q1 us-gaap Revenues
Revenues
8500000000 USD
CY2013Q2 us-gaap Revenues
Revenues
9707000000 USD
CY2013Q3 us-gaap Revenues
Revenues
10490000000 USD
CY2013Q4 us-gaap Revenues
Revenues
9076000000 USD
CY2013 us-gaap Revenues
Revenues
37773000000 USD
CY2014Q1 us-gaap Revenues
Revenues
8916000000 USD
CY2014Q2 us-gaap Revenues
Revenues
10621000000 USD
CY2014Q3 us-gaap Revenues
Revenues
11178000000 USD
CY2014Q4 us-gaap Revenues
Revenues
9647000000 USD
CY2014 us-gaap Revenues
Revenues
40362000000 USD
CY2013Q4 us-gaap Secured Debt
SecuredDebt
11074000000 USD
CY2014Q4 us-gaap Secured Debt
SecuredDebt
9316000000 USD
CY2012 us-gaap Selling And Marketing Expense
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1590000000 USD
CY2013 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
1603000000 USD
CY2014 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
1700000000 USD
CY2012 us-gaap Share Based Compensation
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54000000 USD
CY2013 us-gaap Share Based Compensation
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90000000 USD
CY2014 us-gaap Share Based Compensation
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81000000 USD
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ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
5000000 shares
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
157000000 shares
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
6000000 shares
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
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12.88
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
7000000 shares
CY2013Q4 us-gaap Short Term Investments
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959000000 USD
CY2014Q4 us-gaap Short Term Investments
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1217000000 USD
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51000000 USD
CY2013 us-gaap Stock Issued During Period Value Share Based Compensation
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66000000 USD
CY2014 us-gaap Stock Issued During Period Value Share Based Compensation
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26000000 USD
CY2012 us-gaap Stock Issued During Period Value Stock Options Exercised
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16000000 USD
CY2013 us-gaap Stock Issued During Period Value Stock Options Exercised
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73000000 USD
CY2014 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
18000000 USD
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10000000 shares
CY2014 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
29000000 shares
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250000000 USD
CY2014 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
1100000000 USD
CY2011Q4 us-gaap Stockholders Equity
StockholdersEquity
-1396000000 USD
CY2012Q4 us-gaap Stockholders Equity
StockholdersEquity
-2131000000 USD
CY2013Q4 us-gaap Stockholders Equity
StockholdersEquity
11643000000 USD
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
8813000000 USD
CY2013 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
14.31
CY2014 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
15.82
CY2013Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
18041848 shares
CY2014Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
19790077 shares
CY2013Q4 us-gaap Treasury Stock Value
TreasuryStockValue
258000000 USD
CY2014Q4 us-gaap Treasury Stock Value
TreasuryStockValue
313000000 USD
CY2012Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
44000000 USD
CY2013Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
37000000 USD
CY2014Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
40000000 USD
CY2012 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
850000000 shares
CY2013 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
858000000 shares
CY2014 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
845000000 shares
CY2012 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
845000000 shares
CY2013 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
849000000 shares
CY2014 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
836000000 shares
CY2014 us-gaap Advertising Cost Policy Expensed Advertising Cost
AdvertisingCostPolicyExpensedAdvertisingCost
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Advertising Costs</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We expense advertising costs as other selling expenses in the year incurred. Advertising expense was approximately </font><font style="font-family:inherit;font-size:10pt;">$200 million</font><font style="font-family:inherit;font-size:10pt;"> for the years ended </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2014</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2013</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2012</font><font style="font-family:inherit;font-size:10pt;">, respectively.</font></div></div>
CY2014 us-gaap Property Plant And Equipment Impairment
PropertyPlantAndEquipmentImpairment
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">We record impairment losses on flight equipment and other long-lived assets used in operations when events and circumstances indicate the assets may be impaired and the estimated future cash flows generated by those assets are less than their carrying amounts. Factors which could cause impairment include, but are not limited to, (1) a decision to permanently remove flight equipment or other long-lived assets from operations, (2) significant changes in the estimated useful life, (3) significant changes in projected cash flows, (4) permanent and significant declines in fleet fair values and (5) changes to the regulatory environment. For long-lived assets held for sale, we discontinue depreciation and record impairment losses when the carrying amount of these assets is greater than the fair value less the cost to sell.</font><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">To determine whether impairments exist for aircraft used in operations, we group assets at the fleet-type level (the lowest level for which there are identifiable cash flows) and then estimate future cash flows based on projections of capacity, passenger mile yield, fuel costs, labor costs and other relevant factors. If an impairment occurs, the impairment loss recognized is the amount by which the fleet's carrying amount exceeds its estimated fair value. We estimate aircraft fair values using published sources, appraisals and bids received from third parties, as available.</font><font style="font-family:inherit;font-size:10pt;"> </font></div></div>
CY2014 us-gaap Revenue Recognition Deferred Revenue
RevenueRecognitionDeferredRevenue
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Passenger Ticket Sales Earning Mileage Credits. </font><font style="font-family:inherit;font-size:10pt;color:#000000;font-style:normal;text-decoration:none;">Passenger ticket sales earning mileage credits under our SkyMiles Program provide customers with two deliverables: (1) mileage credits earned and (2) air transportation.</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;color:#000000;font-style:normal;text-decoration:none;">We value each deliverable on a standalone basis. Our estimate of the selling price of a mileage credit is based on an analysis of our sales of mileage credits to other airlines and customers, which is re-evaluated at least annually. We use established ticket prices to determine the estimated selling price of air transportation. We allocate the total amount collected from passenger ticket sales between the deliverables based on their relative selling prices.</font></div><div style="line-height:120%;text-align:left;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">We defer revenue for the mileage credits related to passenger ticket sales and recognize it as passenger revenue when miles are redeemed and services are provided. We record the air transportation portion of the passenger ticket sales in air traffic liability and recognize these amounts in passenger revenue when we provide transportation or when the ticket expires unused.</font><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;text-align:left;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Sale of Mileage Credits.</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;">Customers may earn mileage credits through participating companies such as credit card companies, hotels and car rental agencies with which we have marketing agreements to sell mileage credits. Our contracts to sell mileage credits under these marketing agreements have multiple deliverables, as defined below.</font></div><div style="line-height:120%;text-align:left;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Our most significant contract to sell mileage credits relates to our co-brand credit card relationship with American Express. Our agreements with American Express provide for joint marketing, grant certain benefits to Delta-American Express co-branded credit card holders ("Cardholders") and American Express Membership Rewards Program participants and allow American Express to market using our customer database. Cardholders earn mileage credits for making purchases using co-branded cards, may check their first bag for free, are granted access to Delta SkyClub lounges and receive other benefits while traveling on Delta. These benefits that we provide in the form of separate products and services under the SkyMiles agreements are referred to as "deliverables." Additionally, participants in the American Express Membership Rewards program may exchange their points for mileage credits under the SkyMiles Program. As a result, we sell mileage credits at agreed upon rates to American Express for provision to their customers under the co-brand credit card program and the Membership Rewards program.</font></div><div style="line-height:120%;text-align:left;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In December 2014, we amended our marketing agreements with American Express which increased the value we will receive under the agreements and extended the term to 2022. The amended agreements became effective January 1, 2015. The deliverables under the amended agreements are substantially similar to the previous agreement. We will account for the amended agreements consistent with the accounting method adopted in September 2013 that allocates the consideration received to the individual products and services delivered based on their relative selling prices. The increased value received under the amended agreements will increase the amount of deferred revenue for the travel component and increase the value of the other deliverables, which are recognized in other revenue as they are provided.</font></div><div style="line-height:120%;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In September 2013, we modified our marketing agreements with American Express that required us to change the accounting method for recording SkyMiles sold. Under the previous method, the embedded premium or discount was allocated to the residual products or services in a combined transaction. The new method allocates consideration received based on the relative selling price of each product or service. </font><font style="font-family:inherit;font-size:10pt;">We determined our best estimate of the selling prices by considering discounted cash flow analysis using multiple inputs and assumptions, including: (1) the expected number of miles awarded and number of miles redeemed, (2) the rate at which we sell mileage credits to other airlines, (3) published rates on our website for baggage fees, access to Delta Sky Club lounges and other benefits while traveling on Delta and (4) brand value. The impact of adopting the relative selling price method re-allocated a portion of the embedded discount to the travel component, lowering the deferral rate we use to record miles sold under the agreements and increasing revenue recognized on the remaining deliverables.</font><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We recognize revenue as we deliver each sales element. We defer the travel deliverable (miles) as part of frequent flyer deferred revenue and recognize passenger revenue as the mileage credits are used for travel. The revenue allocated to the remaining deliverables is recorded in other revenue. We recognize the revenue for these services as they are performed.</font></div><div style="line-height:120%;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Breakage. </font><font style="font-family:inherit;font-size:10pt;color:#000000;font-style:normal;text-decoration:none;">For mileage credits that we estimate are not likely to be redeemed (&#8220;breakage&#8221;), we recognize the associated value proportionally during the period in which the remaining mileage credits are expected to be redeemed. Management uses statistical models to estimate breakage based on historical redemption patterns. A change in assumptions as to the period over which mileage credits are expected to be redeemed, the actual redemption activity for mileage credits or the estimated fair value of mileage credits expected to be redeemed could have a material impact on our revenue in the year in which the change occurs and in future years.</font><font style="font-family:inherit;font-size:10pt;font-style:italic;"> </font></div></div>
CY2014 us-gaap Revenue Recognition Loyalty Programs
RevenueRecognitionLoyaltyPrograms
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Frequent Flyer Program</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Our frequent flyer program (the &#8220;SkyMiles Program&#8221;) </font><font style="font-family:inherit;font-size:10pt;">offers incentives to travel on Delta. This program allows customers to earn mileage credits by flying on Delta, regional air carriers with which we have contract carrier agreements </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">and airlines that participate in the SkyMiles Program, as well as through participating companies such as credit card companies, hotels and car rental agencies. We sell mileage credits to non-airline businesses, customers and other airlines. </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">Effective January 1, 2015, the SkyMiles program was modified from a model in which customers earn redeemable mileage credits based on distance traveled to a model based on ticket price. This award change did not affect the way we account for the program.</font><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">The SkyMiles Program includes two types of transactions that are considered revenue arrangements with multiple deliverables. As discussed below, these are (1) passenger ticket sales earning mileage credits and (2) the sale of mileage credits to participating companies with which we have marketing agreements. Mileage credits are a separate unit of accounting as they can be redeemed by customers in future periods for air travel on Delta and participating airlines, membership in our Sky Club and other program awards.</font><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;text-align:left;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Passenger Ticket Sales Earning Mileage Credits. </font><font style="font-family:inherit;font-size:10pt;color:#000000;font-style:normal;text-decoration:none;">Passenger ticket sales earning mileage credits under our SkyMiles Program provide customers with two deliverables: (1) mileage credits earned and (2) air transportation.</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;color:#000000;font-style:normal;text-decoration:none;">We value each deliverable on a standalone basis. Our estimate of the selling price of a mileage credit is based on an analysis of our sales of mileage credits to other airlines and customers, which is re-evaluated at least annually. We use established ticket prices to determine the estimated selling price of air transportation. We allocate the total amount collected from passenger ticket sales between the deliverables based on their relative selling prices.</font></div><div style="line-height:120%;text-align:left;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">We defer revenue for the mileage credits related to passenger ticket sales and recognize it as passenger revenue when miles are redeemed and services are provided. We record the air transportation portion of the passenger ticket sales in air traffic liability and recognize these amounts in passenger revenue when we provide transportation or when the ticket expires unused.</font><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;text-align:left;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Sale of Mileage Credits.</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;">Customers may earn mileage credits through participating companies such as credit card companies, hotels and car rental agencies with which we have marketing agreements to sell mileage credits. Our contracts to sell mileage credits under these marketing agreements have multiple deliverables, as defined below.</font></div><div style="line-height:120%;text-align:left;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Our most significant contract to sell mileage credits relates to our co-brand credit card relationship with American Express. Our agreements with American Express provide for joint marketing, grant certain benefits to Delta-American Express co-branded credit card holders ("Cardholders") and American Express Membership Rewards Program participants and allow American Express to market using our customer database. Cardholders earn mileage credits for making purchases using co-branded cards, may check their first bag for free, are granted access to Delta SkyClub lounges and receive other benefits while traveling on Delta. These benefits that we provide in the form of separate products and services under the SkyMiles agreements are referred to as "deliverables." Additionally, participants in the American Express Membership Rewards program may exchange their points for mileage credits under the SkyMiles Program. As a result, we sell mileage credits at agreed upon rates to American Express for provision to their customers under the co-brand credit card program and the Membership Rewards program.</font></div><div style="line-height:120%;text-align:left;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In December 2014, we amended our marketing agreements with American Express which increased the value we will receive under the agreements and extended the term to 2022. The amended agreements became effective January 1, 2015. The deliverables under the amended agreements are substantially similar to the previous agreement. We will account for the amended agreements consistent with the accounting method adopted in September 2013 that allocates the consideration received to the individual products and services delivered based on their relative selling prices. The increased value received under the amended agreements will increase the amount of deferred revenue for the travel component and increase the value of the other deliverables, which are recognized in other revenue as they are provided.</font></div><div style="line-height:120%;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In September 2013, we modified our marketing agreements with American Express that required us to change the accounting method for recording SkyMiles sold. Under the previous method, the embedded premium or discount was allocated to the residual products or services in a combined transaction. The new method allocates consideration received based on the relative selling price of each product or service. </font><font style="font-family:inherit;font-size:10pt;">We determined our best estimate of the selling prices by considering discounted cash flow analysis using multiple inputs and assumptions, including: (1) the expected number of miles awarded and number of miles redeemed, (2) the rate at which we sell mileage credits to other airlines, (3) published rates on our website for baggage fees, access to Delta Sky Club lounges and other benefits while traveling on Delta and (4) brand value. The impact of adopting the relative selling price method re-allocated a portion of the embedded discount to the travel component, lowering the deferral rate we use to record miles sold under the agreements and increasing revenue recognized on the remaining deliverables.</font><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We recognize revenue as we deliver each sales element. We defer the travel deliverable (miles) as part of frequent flyer deferred revenue and recognize passenger revenue as the mileage credits are used for travel. The revenue allocated to the remaining deliverables is recorded in other revenue. We recognize the revenue for these services as they are performed.</font></div><div style="line-height:120%;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Breakage. </font><font style="font-family:inherit;font-size:10pt;color:#000000;font-style:normal;text-decoration:none;">For mileage credits that we estimate are not likely to be redeemed (&#8220;breakage&#8221;), we recognize the associated value proportionally during the period in which the remaining mileage credits are expected to be redeemed. Management uses statistical models to estimate breakage based on historical redemption patterns. A change in assumptions as to the period over which mileage credits are expected to be redeemed, the actual redemption activity for mileage credits or the estimated fair value of mileage credits expected to be redeemed could have a material impact on our revenue in the year in which the change occurs and in future years.</font><font style="font-family:inherit;font-size:10pt;font-style:italic;"></font></div></div>
CY2014 us-gaap Revenue Recognition Sales Of Services
RevenueRecognitionSalesOfServices
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Passenger Tickets</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We record sales of passenger tickets in air traffic liability. Passenger revenue is recognized when we provide transportation or when the ticket expires unused, reducing the related air traffic liability. We periodically evaluate the estimated air traffic liability and record any adjustments in our Consolidated Statements of Operations. These adjustments relate primarily to refunds, exchanges, transactions with other airlines and other items for which final settlement occurs in periods subsequent to the sale of the related tickets at amounts other than the original sales price.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></div>
CY2014 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We are required to make estimates and assumptions when preparing our Consolidated Financial Statements in accordance with GAAP. These estimates and assumptions affect the amounts reported in our Consolidated Financial Statements and the accompanying notes. Actual results could differ materially from those estimates.</font></div></div>

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