Delta Air Lines (DAL) FY2014 results: revenue $40.4 billion, up 6.9% on the year
Delta Air Lines, Inc. (DAL) reported revenue of $40.4 billion for fiscal 2014, the year ended 31 December 2014, up 6.9% on the year before. Net income was $659 million, down 93.7%, and diluted earnings per share $0.78. The figures are the company's own, from the 10-K it filed with the SEC on 11 February 2015.
Revenue
$40.4 billion
+6.9% on the year
FY2009FY2014
Operating margin
5.5%
9.0% a year earlier
FY2009FY2014
Net income
$659 million
-93.7% on the year
FY2009FY2014
Diluted EPS
$0.78
-93.7% on the year
FY2009FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
40,362
37,773
36,670
+6.9%
Operating income
2,206
3,400
2,175
-35.1%
Operating margin
5.5%
9.0%
5.9%
Interest expense
650
852
1,005
-23.7%
Pre-tax income
1,072
2,527
1,025
-57.6%
Income tax
413
-8,013
16.0
Effective tax rate
38.5%
-317.1%
1.6%
Net income
659
10,540
1,009
-93.7%
Net margin
1.6%
27.9%
2.8%
Diluted EPS
$0.78
$12.29
$1.19
-93.7%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
4,947
4,504
2,476
+9.8%
Capital expenditure
2,249
2,568
1,968
-12.4%
Free cash flow
2,698
1,936
508
+39.4%
Free cash flow margin
6.7%
5.1%
1.4%
Cash from investing
-2,463
-2,756
-1,962
Cash from financing
-3,240
-1,320
-755
Depreciation and amortisation
1,771
1,658
1,565
+6.8%
Share-based compensation
81.0
90.0
54.0
-10.0%
Buybacks
1,100
250
0.0
+340.0%
Dividends paid
251
102
0.0
+146.1%
Dividend per share
$0.30
$0.12
$0.00
+150.0%
Diluted shares, weighted
845m
858m
850m
-1.5%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
8,813
11,643
-2,131
-24.3%
Debt
9,263
10,845
13,164
-14.6%
Other liabilities
35,929
29,616
33,517
+21.3%
Total liabilities and equity
54,005
52,104
44,550
+3.6%
Fixed assets
21,929
21,854
20,713
+0.3%
Goodwill
9,794
9,794
9,794
0.0%
Intangible assets
4,603
4,658
4,679
-1.2%
Investments
1,217
959
958
+26.9%
Cash and equivalents
2,088
2,844
2,416
-26.6%
Receivables
2,297
1,609
1,693
+42.8%
Other assets
12,077
10,386
4,297
+16.3%
Total assets
54,005
52,104
44,550
+3.6%
10-K for the year ended 31 December 2014, filed 11 February 2015: the filing.