Stock Analysis on Net
Stock Analysis on Net

Delta Air Lines Inc. (NYSE:DAL)

$22.49

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

Common-Size Balance Sheet: Assets
Quarterly Data

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Delta Air Lines Inc., common-size consolidated balance sheet: assets (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
Cash and cash equivalents
Short-term investments
Accounts receivable, net of an allowance for uncollectible accounts
Fuel, expendable parts and supplies inventories, net of allowance for obsolescence
Prepaid expenses and other
Current assets
Property and equipment, net of accumulated depreciation and amortization
Operating lease right-of-use assets
Goodwill
Identifiable intangibles, net of accumulated amortization
Equity investments
Deferred income taxes, net
Other noncurrent assets
Noncurrent assets
Total assets

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).

Cash and Cash Equivalents
Cash and cash equivalents as a percentage of total assets fluctuated moderately from 2017 through early 2019, ranging between approximately 2.5% and 4.5%. Starting in the first quarter of 2020, there was a marked increase, peaking around 20.84% in September 2020, likely reflecting increased liquidity maintenance amid economic uncertainty. Thereafter, the ratio declined but remained elevated relative to pre-2020 levels, stabilizing around 10-13% through mid-2022.
Short-term Investments
Data for short-term investments are absent before the first quarter of 2020. From that point, short-term investments increased sharply, reaching a peak near 8% in late 2020. Since then, the proportion has gradually declined, falling below 3% by mid-2022, indicating a shift away from this asset class in the recent period.
Accounts Receivable, Net
This category remained relatively stable as a share of total assets between 4% and 5% through 2019 but dropped significantly during 2020, reaching a low around 1.9%. Following this low, accounts receivable proportions showed a gradual recovery towards pre-pandemic levels, rising above 4% by mid-2022.
Fuel, Expendable Parts, and Supplies Inventories
The inventory component fluctuated moderately, generally staying below 2.5% of total assets. It declined slightly in 2020 but began a steady increase in 2021 and 2022, reaching approximately 2.3% by mid-2022, suggesting a replenishment or buildup of inventory after initial reductions.
Prepaid Expenses and Other Current Assets
This component showed a decreasing trend from 3.5%-4.7% in early periods down to about 1.4%-1.6% throughout 2020 and 2021. However, it slightly recovered toward 2.3% by mid-2022, indicating stabilization of prepaid expenses after a period of contraction.
Current Assets Overall
Current assets as a percentage of total assets were relatively constant around 10-15% until 2019 but experienced a significant increase beginning in early 2020, peaking at 31.65% in September 2020. This spike aligns with heightened cash and short-term investment holdings. Afterward, the current assets ratio declined but remained above pre-pandemic levels, staying around 21-26% through mid-2022.
Property and Equipment, Net
The proportion of property and equipment to total assets was stable near 48-51% from 2017 through 2018. It notably dropped during 2019 and 2020, reaching a low of approximately 33.6% in the third quarter of 2020. A partial recovery occurred thereafter, with the asset share increasing toward 40.8% by mid-2022, suggesting asset revaluation, acquisition, or capital investment resumption post-pandemic.
Operating Lease Right-of-Use Assets
This asset class first appears in the data in 2018, steadily comprising between 7.4% and 10% of total assets. There is some decline during 2020 but a rebound is observed through 2021 into early 2022, indicating continued recognition of lease assets under accounting standards.
Goodwill
Goodwill as a percentage of total assets displayed a gradual, consistent decline from about 19% in early 2017 to roughly 13% by mid-2022. This decreasing trend may reflect impairments, disposals, or the relative growth of other asset categories.
Identifiable Intangibles, Net
Intangible assets decreased from near 9.4% early in the period to around 8% by mid-2022, with some fluctuations. The decline is gradual over the years, suggesting amortization or asset disposals balanced by acquisitions to some extent.
Equity Investments
This category appears in the dataset starting in 2019, varying between about 1.98% and 5.36% of total assets. Notably, peak values occurred around late 2019 and early 2020 but generally settled near 2-3% subsequently, indicating moderate changes in equity holdings.
Deferred Income Taxes, Net
Deferred income taxes data begins in 2020, fluctuating modestly between 1.6% and 3.2% of total assets, without a clear directional trend.
Other Noncurrent Assets
There was a steady decline in other noncurrent assets from roughly 10% in 2017 down to about 1.4% by mid-2022. The most substantial decreases occurred between 2019 and 2022, suggesting reclassifications or disposals of noncurrent asset items within this category.
Noncurrent Assets Overall
Noncurrent assets made up the majority of total assets throughout the period, consistently around 85-89% until early 2020. A sharp decrease occurred in 2020, down to approximately 68%, coinciding with the rise in current assets and cash holdings at that time. A modest recovery in noncurrent asset share followed, stabilizing near 77-79% through mid-2022.
Total Assets
Total assets consistently accounted for 100% as expected, serving as the denominator for the other ratios and confirming the proportional allocation of asset categories over time.