Delta Air Lines Inc. (DAL) financial statements: income statement, balance sheet and cash flow
Delta Air Lines Inc.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Delta Air Lines Inc. reported revenue of $63.4B (+2.8% year on year) and net income of $5.0B (+44.8% year on year).
Income statement
Delta Air Lines Inc. income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Total operating revenue
$63.4B
$61.6B
$58.0B
$50.6B
Salaries and related costs
$17.5B
$16.2B
$14.6B
$11.9B
Aircraft fuel and related taxes
$9.8B
$10.6B
$11.1B
$11.5B
Ancillary businesses and refinery
$6.0B
$5.4B
$4.2B
$5.8B
Contracted services
$4.6B
$4.2B
$4.0B
$3.3B
Landing fees and other rents
$3.6B
$3.1B
$2.6B
$2.2B
Regional carrier expense
$2.6B
$2.3B
$2.2B
$2.1B
Passenger commissions and other selling expenses
$2.5B
$2.5B
$2.3B
$1.9B
Depreciation and amortization
$2.4B
$2.5B
$2.3B
$2.1B
Aircraft maintenance materials and outside repairs
$2.4B
$2.6B
$2.4B
$2.0B
Passenger service
$1.9B
$1.8B
$1.8B
$1.5B
Profit sharing
$1.3B
$1.4B
$1.4B
$563.0M
Aircraft rent
$542.0M
$548.0M
$532.0M
$508.0M
Pilot agreement and related expenses
$0
$0
$864.0M
—
Other
$2.4B
$2.5B
$2.2B
$1.8B
Total operating expense
$57.5B
$55.6B
$52.5B
$46.9B
Operating Income
$5.8B
$6.0B
$5.5B
$3.7B
Interest expense, net
($679.0M)
($747.0M)
($834.0M)
($1.0B)
Gain/(loss) on investments, net
$1.2B
($319.0M)
$1.3B
($783.0M)
Loss on extinguishment of debt
($26.0M)
($39.0M)
($63.0M)
($100.0M)
Miscellaneous, net
($144.0M)
($232.0M)
($35.0M)
($107.0M)
Total non-operating income/(expense), net
$363.0M
($1.3B)
$87.0M
($1.7B)
Income Before Income Taxes
$6.2B
$4.7B
$5.6B
$1.9B
Income Tax Provision
($1.2B)
($1.2B)
($999.0M)
($596.0M)
Net Income
$5.0B
$3.5B
$4.6B
$1.3B
Basic Earnings Per Share (USD per share)
$7.72
$5.39
$7.21
$2.07
Diluted Earnings Per Share (USD per share)
$7.66
$5.33
$7.17
$2.06
Delta Air Lines Inc. income statement, quarters
Line item
Sep 30, 2026 · Q3
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Total operating revenue
$20.2B
$19.8B
$15.9B
$16.7B
Salaries and related costs
$4.8B
$4.8B
$4.5B
$4.4B
Aircraft fuel and related taxes
$4.4B
$4.1B
$2.7B
$2.6B
Refinery expense
$2.6B
$2.1B
$1.7B
—
Contracted services
$1.3B
$1.3B
$1.2B
$1.2B
Landing fees and other rents
$1.0B
$978.0M
$913.0M
$921.0M
Aircraft maintenance materials and outside repairs
$662.0M
$689.0M
$709.0M
$667.0M
Passenger commissions and other selling expenses
$703.0M
$726.0M
$590.0M
$645.0M
Regional carrier expense
$680.0M
$673.0M
$649.0M
$649.0M
Depreciation and amortization
$673.0M
$656.0M
$635.0M
$614.0M
Passenger service
$494.0M
$489.0M
$428.0M
$485.0M
Profit sharing
$389.0M
$328.0M
$165.0M
$392.0M
MRO expense
$267.0M
$273.0M
$328.0M
—
Aircraft rent
$159.0M
$168.0M
$143.0M
$135.0M
Other
$633.0M
$688.0M
$666.0M
$578.0M
Total operating expense
$18.7B
$17.9B
$15.4B
$15.0B
Operating Income
$1.5B
$1.9B
$501.0M
$1.7B
Interest expense, net
($146.0M)
($144.0M)
($151.0M)
($171.0M)
Gain/(loss) on investments, net
($218.0M)
$349.0M
($550.0M)
$311.0M
Gain/(loss) on extinguishment of debt
$2.0M
($1.0M)
($4.0M)
($6.0M)
Miscellaneous, net
($18.0M)
($59.0M)
($10.0M)
($41.0M)
Total non-operating income/(expense), net
($380.0M)
$145.0M
($715.0M)
$93.0M
Income Before Income Taxes
$1.1B
$2.0B
($214.0M)
$1.8B
Income Tax Provision
($318.0M)
($405.0M)
($75.0M)
($360.0M)
Net Income
$756.0M
$1.6B
($289.0M)
$1.4B
Basic Earnings Per Share (USD per share)
$1.15
$2.45
-$0.44
$2.18
Diluted Earnings Per Share (USD per share)
$1.15
$2.44
-$0.44
$2.17
Comprehensive income
$787.0M
$1.6B
($260.0M)
$1.5B
Balance sheet
Delta Air Lines Inc. balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Cash and cash equivalents
$4.3B
$3.1B
$2.7B
$3.3B
Accounts receivable, net of an allowance for uncollectible accounts of $13 and $18
$2.9B
$3.2B
$3.1B
$3.2B
Fuel, expendable parts and supplies inventories, net of an allowance for obsolescence of $124 and $120
$1.6B
$1.4B
$1.3B
$1.4B
Prepaid expenses and other
$2.2B
$2.1B
$2.0B
$1.9B
Total current assets
$11.0B
$9.8B
$10.3B
$13.0B
Property and equipment, net of accumulated depreciation and amortization of $24,719 and $23,228
$39.7B
$37.6B
$35.5B
$33.1B
Operating lease right-of-use assets
$6.2B
$6.6B
$7.0B
$7.0B
Goodwill
$9.8B
$9.8B
$9.8B
$9.8B
Identifiable intangibles, net of accumulated amortization of $928 and $919
$6.0B
$6.0B
$6.0B
$6.0B
Equity investments
$4.2B
$2.8B
$3.5B
$2.1B
Other noncurrent assets
$4.4B
$2.7B
$1.7B
$934.0M
Total noncurrent assets
$70.3B
$65.5B
$63.4B
$59.3B
Total assets
$81.3B
$75.4B
$73.6B
$72.3B
Current maturities of debt and finance leases
$1.6B
$2.2B
$3.0B
$2.4B
Current maturities of operating leases
$809.0M
$763.0M
$759.0M
$714.0M
Deferred revenue liability, current
$12.0B
$11.4B
$11.0B
$11.6B
Accounts payable
$5.2B
$4.7B
$4.4B
$5.1B
Accrued salaries and related benefits
$4.9B
$4.8B
$4.6B
$3.3B
Fuel card obligation
$1.1B
$1.1B
$1.1B
$1.1B
Other accrued liabilities
$1.9B
$1.8B
$1.6B
$1.8B
Total current liabilities
$27.6B
$26.7B
$26.4B
$25.9B
Debt and finance leases
$12.5B
$14.0B
$17.1B
$20.7B
Noncurrent operating leases
$5.4B
$5.8B
$6.5B
$6.9B
Pension, postretirement and related benefits
$3.2B
$3.1B
$3.6B
$3.7B
Loyalty program deferred revenue
$4.4B
$4.5B
$4.5B
$4.5B
Deferred income taxes, net
$3.4B
$2.2B
$908.0M
$325.0M
Other noncurrent liabilities
$4.0B
$3.7B
$3.6B
$4.0B
Total noncurrent liabilities
$32.8B
$33.4B
$36.1B
$39.8B
Common stock at $0.0001 par value; 1,500,000,000 shares authorized, 659,669,346 and 654,571,606 shares issued
0
0
0
0
Additional paid-in capital
$11.9B
$11.7B
$11.6B
$11.5B
Retained earnings
$13.3B
$8.8B
$5.7B
$1.2B
Accumulated other comprehensive loss
($4.1B)
($5.0B)
($5.8B)
($5.8B)
Treasury stock, at cost, 6,498,109 and 8,098,971 shares
-238.0M
-251.0M
—
—
Total stockholders' equity
$20.9B
$15.3B
$11.1B
$6.6B
Total liabilities and stockholders' equity
$81.3B
$75.4B
$73.6B
$72.3B
Delta Air Lines Inc. balance sheet, quarters
Line item
Sep 30, 2026
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Cash and cash equivalents
$3.8B
$4.7B
$5.1B
$3.8B
Accounts receivable, net of allowance for uncollectible accounts of $13 and $13
$4.3B
$4.3B
$4.1B
$3.6B
Fuel, expendable parts and supplies inventories, net of allowance for obsolescence of $140 and $124
$2.6B
$2.6B
$1.8B
$1.5B
Prepaid expenses and other
$2.7B
$2.7B
$2.8B
$2.3B
Total current assets
$13.5B
$14.2B
$13.7B
$11.2B
Property and equipment, net of accumulated depreciation and amortization of $26,369 and $24,719
$42.2B
$41.5B
$40.6B
$39.4B
Operating lease right-of-use assets
$6.1B
$6.2B
$6.3B
$6.2B
Goodwill
$9.8B
$9.8B
$9.8B
$9.8B
Identifiable intangibles, net of accumulated amortization of $934 and $928
$6.0B
$6.0B
$6.0B
$6.0B
Equity investments
$3.8B
$4.0B
$3.7B
$3.9B
Other noncurrent assets
$4.7B
$4.6B
$4.5B
$3.2B
Total noncurrent assets
$72.6B
$72.1B
$70.8B
$68.4B
Total assets
$86.0B
$86.3B
$84.4B
$79.6B
Current maturities of debt and finance leases
$3.3B
$3.4B
$3.1B
$2.1B
Current maturities of operating leases
$912.0M
$869.0M
$837.0M
$743.0M
Deferred revenue liability, current
$15.0B
$15.3B
$15.8B
$12.8B
Accounts payable
$6.6B
$6.7B
$6.0B
$5.0B
Accrued salaries and related benefits
$4.5B
$3.9B
$3.6B
$4.4B
Fuel card obligation
$1.1B
$1.1B
$1.1B
$1.1B
Other accrued liabilities
$2.1B
$2.3B
$2.3B
$2.0B
Total current liabilities
$33.6B
$33.6B
$32.7B
$28.2B
Debt and finance leases
$9.5B
$10.5B
$11.1B
$12.8B
Noncurrent operating leases
$5.1B
$5.2B
$5.3B
$5.4B
Pension, postretirement and related benefits
$3.0B
$3.1B
$3.1B
$3.1B
Loyalty program deferred revenue
$4.2B
$4.3B
$4.4B
$4.5B
Deferred income taxes, net
$4.2B
$3.9B
$3.5B
$3.0B
Other noncurrent liabilities
$3.9B
$3.9B
$3.9B
$3.9B
Total noncurrent liabilities
$30.0B
$30.9B
$31.4B
$32.6B
Common stock at $0.0001 par value; 1,500,000,000 shares authorized, 666,699,325 and 659,669,346 shares issued
0
0
0
0
Additional paid-in capital
$12.1B
$12.0B
$11.9B
$11.8B
Retained earnings
$14.9B
$14.3B
$12.9B
$12.1B
Accumulated other comprehensive loss
($4.0B)
($4.1B)
($4.1B)
($4.9B)
Treasury stock, at cost, 8,786,945 and 6,498,109 shares
-398.0M
-396.0M
-393.0M
-237.0M
Total stockholders' equity
$22.5B
$21.8B
$20.4B
$18.8B
Total liabilities and stockholders' equity
$86.0B
$86.3B
$84.4B
$79.6B
Cash flow statement
Delta Air Lines Inc. cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net income
$5.0B
$3.5B
$4.6B
$1.3B
Depreciation and amortization
$2.4B
$2.5B
$2.3B
$2.1B
Deferred income taxes
$1.1B
$1.2B
$980.0M
$591.0M
(Gain)/loss on fair value investments
($1.2B)
$323.0M
($1.3B)
$874.0M
Pension, postretirement and postemployment payments greater than expense
($210.0M)
($296.0M)
($121.0M)
($453.0M)
Receivables
$432.0M
($126.0M)
($7.0M)
($728.0M)
Prepaids and other current assets
($183.0M)
($241.0M)
$17.0M
($867.0M)
Liabilities and deferred revenue
$498.0M
$457.0M
($678.0M)
$2.2B
Profit sharing
($53.0M)
$6.0M
$821.0M
$455.0M
Other payables, deferred revenue and accrued liabilities
$842.0M
$614.0M
($285.0M)
$1.2B
Other, net
($332.0M)
$163.0M
($33.0M)
$146.0M
Net cash provided by operating activities
$8.3B
$8.0B
$6.5B
$6.4B
Flight equipment, including advance payments
($3.5B)
($3.9B)
($3.6B)
($4.5B)
Ground property and equipment, including technology
($978.0M)
($1.2B)
($1.7B)
($1.9B)
Purchase of equity investments
($276.0M)
$0
($152.0M)
($870.0M)
Purchase of short-term investments
$0
$0
($2.3B)
($2.7B)
Redemption of short-term investments
$0
$1.1B
$4.5B
$2.8B
Other, net
$589.0M
$264.0M
$92.0M
$212.0M
Net cash used in investing activities
($4.2B)
($3.7B)
($3.1B)
($6.9B)
Proceeds from long-term obligations
$2.2B
$0
$878.0M
$0
Payments on debt and finance lease obligations
($4.8B)
($4.0B)
($4.1B)
($4.5B)
Cash dividends
($440.0M)
($321.0M)
($128.0M)
$0
Other, net
($24.0M)
$14.0M
($73.0M)
($60.0M)
Net cash used in financing activities
($3.1B)
($4.3B)
($3.4B)
($4.5B)
Net Increase/(Decrease) in Cash, Cash Equivalents and Restricted Cash
$1.1B
$26.0M
($78.0M)
($5.1B)
Cash, cash equivalents and restricted cash at beginning of period
$3.4B
$3.4B
$3.5B
$8.6B
Cash, cash equivalents and restricted cash at end of period
$4.5B
$3.4B
$3.4B
$3.5B
Supplemental Disclosure of Cash Paid for Interest
$850.0M
$1.0B
$1.2B
$1.3B
Right-of-use assets acquired or modified under operating leases
$375.0M
$327.0M
—
—
Flight and ground equipment acquired or modified under finance leases
$184.0M
($17.0M)
—
—
Operating leases converted to finance leases
$312.0M
$25.0M
$84.0M
$342.0M
Debt agreements modified
$371.0M
—
—
—
Delta Air Lines Inc. cash flow statement, quarters
Line item
Sep 30, 2026 · YTD
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Net Cash Provided by Operating Activities
$5.7B
$4.0B
$2.4B
$6.1B
Flight equipment, including advance payments
($3.4B)
($2.2B)
($1.0B)
($2.9B)
Ground property and equipment, including technology
($627.0M)
($414.0M)
($200.0M)
($680.0M)
Acquisition of strategic investments and related
($150.0M)
($105.0M)
($54.0M)
—
Other, net
$143.0M
($12.0M)
($9.0M)
$134.0M
Net cash used in investing activities
($4.1B)
($2.8B)
($1.3B)
($3.5B)
Proceeds from short-term obligations
$1.3B
$1.3B
$1.3B
—
Proceeds from long-term obligations
$103.0M
$103.0M
—
$2.2B
Payments on debt and finance lease obligations
($3.3B)
($2.1B)
($1.6B)
($3.9B)
Cash dividends
($393.0M)
($252.0M)
($129.0M)
($318.0M)
Other, net
$18.0M
$19.0M
$8.0M
($40.0M)
Net cash used in financing activities
($2.3B)
($980.0M)
($435.0M)
($2.1B)
Net (Decrease)/Increase in Cash, Cash Equivalents and Restricted Cash Equivalents
($619.0M)
$272.0M
$734.0M
$550.0M
Cash, cash equivalents and restricted cash equivalents at beginning of period
$4.5B
$4.5B
$4.5B
$3.4B
Cash, cash equivalents and restricted cash equivalents at end of period
$3.9B
$4.8B
$5.2B
$4.0B
Operating leases converted to finance leases
$562.0M
$562.0M
$359.0M
$312.0M
Right-of-use assets acquired or modified under operating leases
$447.0M
$279.0M
$179.0M
$135.0M
Flight and ground equipment acquired or modified under finance leases
$79.0M
$18.0M
$1.0M
$59.0M
Debt agreements modified
$1.7B
$482.0M
—
$371.0M
Cash and cash equivalents
$3.8B
$4.7B
$5.1B
$3.8B
Restricted cash included in prepaid expenses and other
$77.0M
$86.0M
$144.0M
$97.0M
Restricted cash included in other noncurrent assets
$18.0M
$22.0M
$38.0M
$83.0M
Total cash, cash equivalents and restricted cash equivalents