01—Abstract
Summary
Summary of the 10-K/A filed April 12, 2017. Cited figures are marked; the original filing is the authoritative source.
This Form 10-K/A (Amendment No. 1) for Delta Air Lines, Inc. covers the fiscal year ended December 31, 2016.
It amends the company's Annual Report on Form 10-K, originally filed February 13, 2017. According to the explanatory note, the sole purpose of the amendment is to re-file Exhibit 23.1, the Consent of Independent Registered Public Accounting Firm, so that it accurately reflects the consent provided by Ernst & Young LLP. The cover page reports an aggregate market value of common equity held by non-affiliates of approximately $27.3 billiona as of June 30, 2016, and 730,770,638 shares of common stock outstanding as of January 31, 2017.
The common stock, par value $0.0001b per share, is registered on the New York Stock Exchange. The registrant is a large accelerated filer and a well-known seasoned issuer, and it is not a shell company. Part III information is incorporated by reference from the definitive proxy statement for the Annual Meeting of Stockholders.
For investors, this filing is administrative in nature and does not change the company's prior reported results. Its significance lies in confirming the auditor consent associated with the original annual report.
02—Key points
Key Highlights
- Amendment No. 1 to the Form 10-K for the fiscal year ended December 31, 2016, originally filed February 13, 2017.
- The sole stated purpose is to re-file Exhibit 23.1, the Consent of Independent Registered Public Accounting Firm from Ernst & Young LLP.
- Aggregate market value of common equity held by non-affiliates was approximately $27.3 billion as of June 30, 2016.
- 730,770,638 shares of common stock were outstanding as of January 31, 2017.
- Common stock (par value $0.0001 per share) is listed on the New York Stock Exchange.
- The registrant is a large accelerated filer and a well-known seasoned issuer, and it is not a shell company.
- Headquarters are at Post Office Box 20706, Atlanta, Georgia; Part III information is incorporated by reference from the definitive proxy statement.
03—One dollar
04—Financials
Financial Highlights
Figures from 10-K/AFY2016filed April 12, 2017Financial Statements
FY2016 against FY2015
| Line item | FY2016FY2015 | Change |
|---|---|---|
| Revenue | $39.64B$40.70B | −2.6% |
| Operating Expenses | $32.45B$32.90B | −1.4% |
| Operating Income | $7.00B$7.80B | −10.3% |
| Interest Expense | $388.00M$481.00M | −19.3% |
| Net Income | $4.20B$4.53B | −7.3% |
| EPS (Basic) | $5.59$5.68 | −1.6% |
| EPS (Diluted) | $5.55$5.63 | −1.4% |
| Shares Outstanding (Basic) | 751.00M797.00M | −5.8% |
| Shares Outstanding (Diluted) | 755.00M804.00M | −6.1% |
05—Questions
Frequently Asked Questions
Why did Delta Air Lines file this amendment?
According to the explanatory note, the company filed Amendment No. 1 to re-file Exhibit 23.1, the Consent of Independent Registered Public Accounting Firm, to accurately reflect the consent that Ernst & Young LLP provided to the company.
Does this amendment change the company's originally reported financial results?
The explanatory note states that the amendment is being made only to re-file Exhibit 23.1, the auditor consent. It does not describe any change to the financial results reported in the original annual report filed February 13, 2017.
What was the size of Delta's public equity float?
The cover page states that the aggregate market value of voting and non-voting common equity held by non-affiliates was approximately $27.3 billion as of June 30, 2016.
How many common shares were outstanding?
As of January 31, 2017, there were 730,770,638 outstanding shares of the registrant's common stock.
Where is Delta's common stock traded, and where can Part III information be found?
The common stock is registered on the New York Stock Exchange. Part III information is incorporated by reference from the registrant's definitive Proxy Statement for its Annual Meeting of Stockholders, which the filing states will be filed with the SEC.
06—Continue