To complete the assignment, you will be using financial statement excerpts from the 2018 10Ks of Delta. I have extracted the portions of the 10K you will require for the assignment and posted the information.

8. What are Deltas total estimated future minimum lease payments related to operating type leases? What are Deltas total estimated future minimum lease payments related to finance type leases? If these are future obligated payments, why are these amounts different from what is identified as a liability on Deltas balance sheet?

Excerpt from Delta Inc 2018 10K regarding Lease Positions Lease Position as of December 31, 2018 The table below presents the lease-related assets and liabilities recorded on the balance sheet (in millions) Classification on the Balance Sheet December 31, 2018 Assets Operating lease assets Operating lease right-of-use assets S 5,994 Finance lease assets Property and equipment, net 490 Total lease assets S 6.484 Liabilitics Current Operating Current maturities of operating leases S 955 Current maturities of long-term debt and finance leases Finance 109 Noncurrent Operating Noncurrent operating leases 5.801 Finance Long-term debt and finance leases 294 Total lease liabilities 7,159 Undiscounted Cash Flows The table below reconciles the undiscounted cash flows for each of the first five years and total of the remaining years to the finance lease liabilities and operating lease liabilities recorded on the balance sheet Operating Leases Finance Leases (in millions) 2019 1.172 $ 127 2020 1,000 89 2021 819 75 33 2022 692 27 2023 654 Thereafter 4,200 111 Total minimum lease payments 8,537 462 Less: amount of lease payments representing interest (1,781) (59) Present value of future minimum lease payments 6,756 403 Less: current obligations under leases (955) (109) Long-term lease obligations S 5,801 $ 294 Excerpt from Delta Inc 2018 10K regarding Lease Positions Lease Position as of December 31, 2018 The table below presents the lease-related assets and liabilities recorded on the balance sheet (in millions) Classification on the Balance Sheet December 31, 2018 Assets Operating lease assets Operating lease right-of-use assets S 5,994 Finance lease assets Property and equipment, net 490 Total lease assets S 6.484 Liabilitics Current Operating Current maturities of operating leases S 955 Current maturities of long-term debt and finance leases Finance 109 Noncurrent Operating Noncurrent operating leases 5.801 Finance Long-term debt and finance leases 294 Total lease liabilities 7,159 Undiscounted Cash Flows The table below reconciles the undiscounted cash flows for each of the first five years and total of the remaining years to the finance lease liabilities and operating lease liabilities recorded on the balance sheet Operating Leases Finance Leases (in millions) 2019 1.172 $ 127 2020 1,000 89 2021 819 75 33 2022 692 27 2023 654 Thereafter 4,200 111 Total minimum lease payments 8,537 462 Less: amount of lease payments representing interest (1,781) (59) Present value of future minimum lease payments 6,756 403 Less: current obligations under leases (955) (109) Long-term lease obligations S 5,801 $ 294