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Given the Delta Airlines Quarterly Report, please indicate how much equity did Delta repurchased during the first 3 Quarters of 2020? Also, please clear draw
Given the Delta Airlines Quarterly Report, please indicate how much equity did Delta repurchased during the first 3 Quarters of 2020? Also, please clear draw the accounting entry that Delta must have recorded to reflect the equity repurchases.
DELTA AIR LINES, INC. Consolidated Balance Sheets (Unaudited) September 30, 2020 December 31. 2019 $ 2.882 16,477 5,048 1,503 2,854 353 730 393 1.256 25.030 521 1.262 8,249 26,602 5.881 9.753 31,310 5.627 9,781 6.014 1.680 1,562 1,305 1.249 54,046 79,076 5.163 636 2,568 120 1.078 56,283 64,532 $ S (in millions, except share data) ) ASSETS Current Assets: Cash and cash equivalents Short-term investments Accounts receivable, net of an allowance for uncollectable accounts of $123 and 13 at September 30, 2020 and December 31. 2019, respectively Fuel inventory Expendable parts and supplies inventories, net of an allowance for obsolescence of S208 and $82 September 30, 2020 and December 31, 2019, respectively Prepaid expenses and other Total current assets Noncurrent Assets: Property and equipment, net of accumulated depreciation and amortization of S18,280 and 17.027 at September 30, 2020 and December 31, 2019, respectively Operating lease right-of-use assets Goodwill Identifiable intangibles, net of accumulated amortization of $880 and $873 at September 30, 2020 and December 31, 2019. respectively Cash restricted for airport construction Equity investments Deferred income taxes, net Other noncurrent assets Total noncurrent assets Total assets LIABILITIES AND STOCKHOLDERS' EQUITY ' Current Liabilities: Current maturities of debt and finance leases Current maturities of operating leases Au traffic liability Accounts payable Accrued salaries and related benefits Loyalty program deferred revenue Fuel card obligation Other accrued liabilities Total current liabilities Noncurrent Liabilities: Debt and finance leases Noncurrent air traffic liability Pension, postretirement and related benefits Loyalty program deferred revenue Noncurrent operating leases Deferred income taxes, net Other noncurrent liabilities Total noncurrent liabilities Commitments and Contingencies Stockholders' Equity: Common stock at 50.0001 par value 1.500.000.000 shares authorized. 647.370,857 and 651,731.443 shares issued at September 30, 2020 and December 31, 2019, respectively Additional paid-in capital Retained earnings Accumulated other comprehensive loss Treasury stock, at cost. 9.636,556 and 8,959,730 shares at September 30, 2020 and December 31, 2019. respectively Total stockholders' equity Total liabilities and stockholders' equity 5,045 $ 714 4,379 2.403 1.904 2,287 801 5.116 3,266 3,701 3.219 736 1.078 20,204 1,284 1.100 2.896 19,725 8.873 29.825 239 9,272 5.805 5,856 8,452 3,509 5.294 1.456 1,386 4,997 S5.994 28.970 11.241 327 (7.939) 11.129 12.454 (7.989) (272) (236) 3,357 15,358 64,532 $ 79,076 $ DELTA AIR LINES, INC. Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income (Unaudited) Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 $ $ (in millions, except per share data) Operating Revenue: Passenger Cargo Other Total operating revenue 1.938 $ 142 982 11.410 189 10.185 $ 403 2.534 13,122 32,032 567 2.969 35.568 961 3,062 12.560 1.956 486 2.884 2.239 6,814 2.453 488 545 379 900 631 685 8.275 6.508 2.698 1.960 1.974 1.321 1.888 1,813 1,398 1,195 1,181 618 378 460 Operating Expense: Salaries and related costs Aircraft fuel and related taxes Regional carriers expense, excluding fuel Depreciation and amortization Contracted services Landing fees and other rents Ancillary businesses and refinery Aircraft maintenance materials and outside repairs Passenger commissions and other selling expenses Passenger service Aircraft rent Restructuring charges CARES Act grant recognition Profit sharing Other Total operating expense 279 945 1,334 424 561 106 94 88 539 345 1,505 938 99 110 498 433 295 7,798 (2.595) 318 5.345 (1.315) 517 1.256 476 944 1.317 238 9,448 10.489 24,733 30,349 Operating (Loss)/Income (6,386) 2,071 (11,611) 5.219 (228) Non-Operating Expense: Interest expense, net Impairments and equity method (losses) gains Gain/(loss) on investments, net Miscellaneous, net Total non-operating expense, net (291) (114) (95) 27 (473) (70) 27 (35) (46) (124) (564) (2.432) (199) 327 (2.868) (17) (130) (419) (Loss)/Income Before Income Taxes (6,859) 1.947 (14.479) 4.800 Income Tax Benefit/(Provision) 1,480 (452) 2.849 (1.131) Net (Loss)/Income $ (5.379) $ 1,495 $ (11,630) $ 3.669 $ $ Basic (Loss)/Earnings Per Share Diluted (Loss)/Earnings Per Share Cash Dividends Declared Per Share (8.47) $ (8.47) $ 2.32 2.31 0.40 $ 5.61 5.59 (18.30) $ (18.30) $ 0.40 $ $ $ $ $ 1.10 Comprehensive (Loss)/Income $ (5.381) $ 1.545 $ (11,580) $ 3.849 DELTA AIR LINES, INC. Condensed Consolidated Statements of Cash Flows (Unaudited) Nine Months Ended September 30, 2020 2019 (2,507) $ 7,455 $ (2.774) (1,090) (594) (757) 465 (8,700) 3,654 (2,099) (235) 76 (8,190) 206 (170) 45 (3,783) (in millions) Net Cash (Used In)/Provided by Operating Activities Cash Flows from Investing Activities: Property and equipment additions: Flight equipment, including advance payments Ground property and equipment, including technology Proceeds from sale-leaseback transactions Purchase of short-term investments Redemption of short-term investments Acquisition of strategic investments Loans to others Other, net Net cash used in investing activities Cash Flows from Financing Activities: Proceeds from short-term obligations Proceeds from long-term obligations Proceeds from sale-leaseback transactions Payments on debt and finance lease obligations Repurchase of common stock Cash dividends Fuel card obligation Other, net Net cash provided by (used in) financing activities Net Increase/(Decrease) in Cash, Cash Equivalents and Restricted Cash Equivalents Cash, cash equivalents and restricted cash equivalents at beginning of period Cash, cash equivalents and restricted cash equivalents at end of period 1,750 500 3,261 22,481 2.306 (2,318) (344) (260) 364 (177) 25,313 (2,805) (1,802) (721) (636) (8) (3,722) 14,616 3,730 18,346 $ (50) 2,748 2,698 $ Non-Cash Transactions: Right-of-use assets acquired under operating leases $ 1,062 $ 459 Flight and ground equipment acquired under finance leases 347 619 Operating leases converted to finance leases 189 The following table provides a reconciliation of cash, cash equivalents and restricted cash equivalents reported within the Consolidated Balance Sheets to the total of the same such amounts shown above: September 30, (in millions) 2020 2019 Current assets: Cash and cash equivalents $ 16,477 $ Restricted cash included in prepaid expenses and other 189 46 Noncurrent assets: Cash restricted for airport construction 1,680 753 Total cash, cash equivalents and restricted cash equivalents $ 18,346 $ 2.698 1,899 DELTA AIR LINES, INC. Consolidated Balance Sheets (Unaudited) September 30, 2020 December 31. 2019 $ 2.882 16,477 5,048 1,503 2,854 353 730 393 1.256 25.030 521 1.262 8,249 26,602 5.881 9.753 31,310 5.627 9,781 6.014 1.680 1,562 1,305 1.249 54,046 79,076 5.163 636 2,568 120 1.078 56,283 64,532 $ S (in millions, except share data) ) ASSETS Current Assets: Cash and cash equivalents Short-term investments Accounts receivable, net of an allowance for uncollectable accounts of $123 and 13 at September 30, 2020 and December 31. 2019, respectively Fuel inventory Expendable parts and supplies inventories, net of an allowance for obsolescence of S208 and $82 September 30, 2020 and December 31, 2019, respectively Prepaid expenses and other Total current assets Noncurrent Assets: Property and equipment, net of accumulated depreciation and amortization of S18,280 and 17.027 at September 30, 2020 and December 31, 2019, respectively Operating lease right-of-use assets Goodwill Identifiable intangibles, net of accumulated amortization of $880 and $873 at September 30, 2020 and December 31, 2019. respectively Cash restricted for airport construction Equity investments Deferred income taxes, net Other noncurrent assets Total noncurrent assets Total assets LIABILITIES AND STOCKHOLDERS' EQUITY ' Current Liabilities: Current maturities of debt and finance leases Current maturities of operating leases Au traffic liability Accounts payable Accrued salaries and related benefits Loyalty program deferred revenue Fuel card obligation Other accrued liabilities Total current liabilities Noncurrent Liabilities: Debt and finance leases Noncurrent air traffic liability Pension, postretirement and related benefits Loyalty program deferred revenue Noncurrent operating leases Deferred income taxes, net Other noncurrent liabilities Total noncurrent liabilities Commitments and Contingencies Stockholders' Equity: Common stock at 50.0001 par value 1.500.000.000 shares authorized. 647.370,857 and 651,731.443 shares issued at September 30, 2020 and December 31, 2019, respectively Additional paid-in capital Retained earnings Accumulated other comprehensive loss Treasury stock, at cost. 9.636,556 and 8,959,730 shares at September 30, 2020 and December 31, 2019. respectively Total stockholders' equity Total liabilities and stockholders' equity 5,045 $ 714 4,379 2.403 1.904 2,287 801 5.116 3,266 3,701 3.219 736 1.078 20,204 1,284 1.100 2.896 19,725 8.873 29.825 239 9,272 5.805 5,856 8,452 3,509 5.294 1.456 1,386 4,997 S5.994 28.970 11.241 327 (7.939) 11.129 12.454 (7.989) (272) (236) 3,357 15,358 64,532 $ 79,076 $ DELTA AIR LINES, INC. Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income (Unaudited) Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 $ $ (in millions, except per share data) Operating Revenue: Passenger Cargo Other Total operating revenue 1.938 $ 142 982 11.410 189 10.185 $ 403 2.534 13,122 32,032 567 2.969 35.568 961 3,062 12.560 1.956 486 2.884 2.239 6,814 2.453 488 545 379 900 631 685 8.275 6.508 2.698 1.960 1.974 1.321 1.888 1,813 1,398 1,195 1,181 618 378 460 Operating Expense: Salaries and related costs Aircraft fuel and related taxes Regional carriers expense, excluding fuel Depreciation and amortization Contracted services Landing fees and other rents Ancillary businesses and refinery Aircraft maintenance materials and outside repairs Passenger commissions and other selling expenses Passenger service Aircraft rent Restructuring charges CARES Act grant recognition Profit sharing Other Total operating expense 279 945 1,334 424 561 106 94 88 539 345 1,505 938 99 110 498 433 295 7,798 (2.595) 318 5.345 (1.315) 517 1.256 476 944 1.317 238 9,448 10.489 24,733 30,349 Operating (Loss)/Income (6,386) 2,071 (11,611) 5.219 (228) Non-Operating Expense: Interest expense, net Impairments and equity method (losses) gains Gain/(loss) on investments, net Miscellaneous, net Total non-operating expense, net (291) (114) (95) 27 (473) (70) 27 (35) (46) (124) (564) (2.432) (199) 327 (2.868) (17) (130) (419) (Loss)/Income Before Income Taxes (6,859) 1.947 (14.479) 4.800 Income Tax Benefit/(Provision) 1,480 (452) 2.849 (1.131) Net (Loss)/Income $ (5.379) $ 1,495 $ (11,630) $ 3.669 $ $ Basic (Loss)/Earnings Per Share Diluted (Loss)/Earnings Per Share Cash Dividends Declared Per Share (8.47) $ (8.47) $ 2.32 2.31 0.40 $ 5.61 5.59 (18.30) $ (18.30) $ 0.40 $ $ $ $ $ 1.10 Comprehensive (Loss)/Income $ (5.381) $ 1.545 $ (11,580) $ 3.849 DELTA AIR LINES, INC. Condensed Consolidated Statements of Cash Flows (Unaudited) Nine Months Ended September 30, 2020 2019 (2,507) $ 7,455 $ (2.774) (1,090) (594) (757) 465 (8,700) 3,654 (2,099) (235) 76 (8,190) 206 (170) 45 (3,783) (in millions) Net Cash (Used In)/Provided by Operating Activities Cash Flows from Investing Activities: Property and equipment additions: Flight equipment, including advance payments Ground property and equipment, including technology Proceeds from sale-leaseback transactions Purchase of short-term investments Redemption of short-term investments Acquisition of strategic investments Loans to others Other, net Net cash used in investing activities Cash Flows from Financing Activities: Proceeds from short-term obligations Proceeds from long-term obligations Proceeds from sale-leaseback transactions Payments on debt and finance lease obligations Repurchase of common stock Cash dividends Fuel card obligation Other, net Net cash provided by (used in) financing activities Net Increase/(Decrease) in Cash, Cash Equivalents and Restricted Cash Equivalents Cash, cash equivalents and restricted cash equivalents at beginning of period Cash, cash equivalents and restricted cash equivalents at end of period 1,750 500 3,261 22,481 2.306 (2,318) (344) (260) 364 (177) 25,313 (2,805) (1,802) (721) (636) (8) (3,722) 14,616 3,730 18,346 $ (50) 2,748 2,698 $ Non-Cash Transactions: Right-of-use assets acquired under operating leases $ 1,062 $ 459 Flight and ground equipment acquired under finance leases 347 619 Operating leases converted to finance leases 189 The following table provides a reconciliation of cash, cash equivalents and restricted cash equivalents reported within the Consolidated Balance Sheets to the total of the same such amounts shown above: September 30, (in millions) 2020 2019 Current assets: Cash and cash equivalents $ 16,477 $ Restricted cash included in prepaid expenses and other 189 46 Noncurrent assets: Cash restricted for airport construction 1,680 753 Total cash, cash equivalents and restricted cash equivalents $ 18,346 $ 2.698 1,899Step by Step Solution
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