01—Abstract
Summary
Summary of the 10-K/A filed March 4, 2011. Cited figures are marked; the original filing is the authoritative source.
This Amendment No. 1 to Delta Air Lines, Inc.'s Annual Report on Form 10-K for the fiscal year ended December 31, 2010, filed March 4, 2011, has a single stated purpose: to furnish Exhibit 101, the XBRL-formatted version of the financial materials from the Form 10-K originally filed with the SEC on February 16, 2011.
The filing states that no other changes have been made to the Form 10-K and that it speaks as of the original filing date. The filing itself contains no financial statements, operating results, or narrative business discussion. Its substantive content is the exhibit index, which lists the company's governing documents, material debt agreements (a First Lien Revolving Credit and Guaranty Agreement and a Second Lien Term Loan and Guaranty Agreement, both dated April 30, 2007), a Transaction Framework Agreement with the Air Line Pilots Association, International, an Anchor Tenant Agreement with JFK International Air Terminal LLC dated December 9, 2010, and numerous executive compensation plans and agreements, including the 2011 Long Term Incentive Program and 2011 Management Incentive Plan.
Several Northwest Airlines compensation and stock incentive plans are also referenced, as are the company's XBRL instance, schema, and linkbase documents. For investors, the key takeaway is that this amendment is administrative. Financial and business details should be sought in the original February 16, 2011 Form 10-K, and governance and compensation details in the company's definitive proxy statement, which Part III incorporates by reference.
02—Key points
Key Highlights
- Amendment No. 1 was filed solely to furnish Exhibit 101 (XBRL-formatted financial data) for the Form 10-K for fiscal year ended December 31, 2010, originally filed February 16, 2011.
- No other changes were made to the original Form 10-K, and the amendment speaks as of the original filing date.
- Part III information is incorporated by reference from the definitive Proxy Statement for the Annual Meeting of Stockholders.
- Exhibit index includes the First Lien Revolving Credit and Guaranty Agreement and Second Lien Term Loan and Guaranty Agreement, both dated April 30, 2007.
- A Transaction Framework Agreement with the Air Line Pilots Association, International, dated June 26, 2008, is listed among the exhibits.
- An Anchor Tenant Agreement dated December 9, 2010, between JFK International Air Terminal LLC and Delta Air Lines, Inc. is filed as an exhibit to the original 10-K.
- Executive compensation exhibits include the 2011 Long Term Incentive Program and 2011 Management Incentive Plan, as well as Northwest Airlines legacy plans.
03—One dollar
04—Financials
Financial Highlights
Figures from 10-K/AFY2010filed March 4, 2011Financial Statements
FY2010 against FY2009
| Line item | FY2010FY2009 | Change |
|---|---|---|
| Revenue | $31.75B$28.06B | +13.2% |
| Operating Expenses | $29.54B$28.39B | +4.1% |
| Operating Income | $2.22B-$324.00M | +784.3% |
| Interest Expense | $1.00B$908.00M | +10.6% |
| Net Income | $593.00M-$1.24B | +147.9% |
| EPS (Basic) | $0.71$-1.50 | +147.3% |
| EPS (Diluted) | $0.70$-1.50 | +146.7% |
| Shares Outstanding (Basic) | 834.00M827.00M | +0.8% |
| Shares Outstanding (Diluted) | 843.00M827.00M | +1.9% |
05—Questions
Frequently Asked Questions
Why was this 10-K/A filed?
The filing states its sole purpose is to furnish Exhibit 101, the XBRL-formatted versions of the financial materials from the original Form 10-K filed February 16, 2011. No other changes were made.
Does this amendment contain new financial results?
No. The filing states it speaks as of the original filing date and has not been updated for subsequent events. It contains no financial statements or results beyond the exhibit index.
Where can investors find governance and executive compensation information?
Part III incorporates information by reference from the definitive Proxy Statement for the Annual Meeting of Stockholders, which the filing states is to be filed with the SEC.
What material agreements are listed in the exhibits?
The exhibit index lists the First Lien Revolving Credit and Guaranty Agreement and Second Lien Term Loan and Guaranty Agreement, both dated April 30, 2007, the Transaction Framework Agreement with the Air Line Pilots Association, International, and the Anchor Tenant Agreement with JFK International Air Terminal LLC dated December 9, 2010.
06—Continue