DELTA AIR LINES, INC., 10-K filed on 2/11/2022
Annual Report
v3.22.0.1
Cover - USD ($)
$ in Billions
 12 Months Ended
Dec. 31, 2021
Jan. 31, 2022
Jun. 30, 2021
Cover [Abstract]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Dec. 31, 2021    
Current Fiscal Year End Date --12-31    
Document Transition Report false    
Entity File Number 001-5424    
Entity Registrant Name DELTA AIR LINES, INC.    
Entity Central Index Key 0000027904    
Document Fiscal Year Focus 2021    
Document Fiscal Period Focus FY    
Amendment Flag false    
Entity Incorporation, State or Country Code DE    
Entity Tax Identification Number 58-0218548    
Entity Address, Address Line One Post Office Box 20706    
Entity Address, City or Town Atlanta    
Entity Address, State or Province GA    
Entity Address, Postal Zip Code 30320-6001    
City Area Code 404    
Local Phone Number 715-2600    
Title of 12(b) Security Common Stock, par value $0.0001 per share    
Trading Symbol DAL    
Security Exchange Name NYSE    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Large Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
ICFR Auditor Attestation Flag true    
Entity Shell Company false    
Entity Public Float     $ 27.7
Entity Common Stock, Shares Outstanding   639,929,760  
Documents Incorporated by Reference Part III of this Form 10-K incorporates by reference certain information from the registrant's definitive Proxy Statement for its 2021 Annual Meeting of Stockholders to be filed with the Securities and Exchange Commission.    
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Audit Information
 12 Months Ended
Dec. 31, 2021
Audit Information [Abstract]  
Auditor Name Ernst & Young LLP
Auditor Location Atlanta, Georgia
Auditor Firm ID 42
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Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2021
Dec. 31, 2020
Current Assets:    
Cash and cash equivalents $ 7,933 $ 8,307
Short-term investments 3,386 5,789
Accounts receivable, net of an allowance for uncollectible accounts of $50 and $89 2,404 1,396
Fuel inventory 694 377
Expendable parts and supplies inventories, net of an allowance for obsolescence of $176 and $188 404 355
Prepaid expenses and other 1,119 1,180
Total current assets 15,940 17,404
Noncurrent Assets:    
Property and equipment, net of accumulated depreciation and amortization of $18,671 and $17,511 28,749 26,529
Operating lease right-of-use assets 7,237 5,733
Goodwill 9,753 9,753
Identifiable intangibles, net of accumulated amortization of $893 and $883 6,001 6,011
Cash restricted for airport construction 473 1,556
Equity investments 1,712 1,665
Deferred income taxes, net 1,294 1,988
Other noncurrent assets 1,300 1,357
Total noncurrent assets 56,519 54,592
Total assets 72,459 71,996
Current Liabilities:    
Current maturities of debt and finance leases 1,782 1,732
Current maturities of operating leases 703 678
Accounts payable 4,240 2,840
Accrued salaries and related benefits 2,457 2,086
Fuel card obligation 1,100 1,100
Other accrued liabilities 1,746 1,670
Total current liabilities 20,966 15,927
Noncurrent Liabilities:    
Debt and finance leases 25,138 27,425
Pension, postretirement and related benefits 6,035 10,630
Noncurrent operating leases 7,056 5,713
Other noncurrent liabilities 4,398 4,862
Total noncurrent liabilities 47,606 54,535
Commitments and Contingencies
Stockholders' Equity:    
Common stock at $0.0001 par value; 1,500,000,000 shares authorized, 649,720,387 and 647,352,203 shares issued 0 0
Additional paid-in capital 11,447 11,259
Accumulated deficit (148) (428)
Accumulated other comprehensive loss (7,130) (9,038)
Treasury stock, at cost, 9,752,872 and 9,169,683 (282) (259)
Total stockholders' equity 3,887 1,534
Total liabilities and stockholders' equity 72,459 71,996
Air traffic    
Current Liabilities:    
Deferred revenue liability, current 6,228 4,044
Noncurrent Liabilities:    
Deferred revenue liability, noncurrent 130 500
Loyalty program    
Current Liabilities:    
Deferred revenue liability, current 2,710 1,777
Noncurrent Liabilities:    
Deferred revenue liability, noncurrent $ 4,849 $ 5,405
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Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Millions
Dec. 31, 2021
Dec. 31, 2020
Current Assets:    
Allowance for uncollectible accounts $ 50 $ 89
Allowance for obsolescence 176 188
Noncurrent Assets:    
Accumulated depreciation and amortization 18,671 17,511
Accumulated amortization $ 893 $ 883
Stockholders' Equity:    
Common stock, par value (USD per share) $ 0.0001 $ 0.0001
Common stock, authorized (shares) 1,500,000,000 1,500,000,000
Common stock, issued (shares) 649,720,387 647,352,203
Treasury stock, at cost (shares) 9,752,872 9,169,683
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Consolidated Statements of Operations - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating Revenue:      
Total operating revenue $ 29,899 $ 17,095 $ 47,007
Operating Expense:      
Salaries and related costs 9,728 9,001 11,601
Aircraft fuel and related taxes 5,633 3,176 8,519
Ancillary businesses and refinery 3,957 1,785 1,245
Contracted services 2,420 1,953 2,942
Landing fees and other rents 2,019 1,833 2,176
Depreciation and amortization 1,998 2,312 2,581
Regional carrier expense 1,736 1,584 2,158
Aircraft maintenance materials and outside repairs 1,401 822 1,751
Passenger commissions and other selling expenses 953 643 2,211
Passenger service 756 551 1,312
Aircraft rent 430 399 423
Restructuring charges (19) 8,219 0
Profit sharing 108 0 1,643
Government grant recognition (4,512) (3,946) 0
Other 1,405 1,232 1,827
Total operating expense 28,013 29,564 40,389
Operating Income/(Loss) 1,886 (12,469) 6,618
Non-Operating Expense:      
Interest expense, net (1,279) (929) (301)
Impairments and equity method losses (337) (2,432) (62)
Gain/(loss) on investments, net 56 (105) 119
Loss on extinguishment of debt (319) (8) 0
Pension and related benefit/(expense) 451 219 (65)
Miscellaneous, net (60) 137 (111)
Total non-operating expense, net (1,488) (3,118) (420)
Income/(Loss) Before Income Taxes 398 (15,587) 6,198
Income Tax (Provision)/Benefit (118) 3,202 (1,431)
Net Income/(Loss) $ 280 $ (12,385) $ 4,767
Basic Earnings/(Loss) Per Share (USD per share) $ 0.44 $ (19.49) $ 7.32
Diluted Earnings (Loss) Per Share (USD per share) 0.44 (19.49) 7.30
Cash Dividends Declared Per Share (USD per share) $ 0 $ 0.40 $ 1.51
Passenger      
Operating Revenue:      
Total operating revenue $ 22,519 $ 12,883 $ 42,277
Cargo      
Operating Revenue:      
Total operating revenue 1,032 608 753
Other      
Operating Revenue:      
Total operating revenue $ 6,348 $ 3,604 $ 3,977
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Consolidated Statements of Comprehensive Income/(Loss) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Statement of Comprehensive Income [Abstract]      
Net Income/(Loss) $ 280 $ (12,385) $ 4,767
Other comprehensive income/(loss):      
Net change in derivative contracts and other 0 (66) 6
Net change in pension and other benefits 1,908 (983) (170)
Total Other Comprehensive Income/(Loss) 1,908 (1,049) (164)
Comprehensive Income/(Loss) $ 2,188 $ (13,434) $ 4,603
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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash Flows From Operating Activities:      
Net income/(loss) $ 280 $ (12,385) $ 4,767
Adjustments to reconcile net income to net cash provided by operating activities:      
Restructuring charges 5 4,111 0
Depreciation and amortization 1,998 2,312 2,581
Deferred income taxes 115 (3,110) 1,473
Pension, postretirement and postemployment payments less/(greater) than expense (2,038) 898 (922)
Impairments and equity method losses 337 2,432 62
Changes in certain assets and liabilities:      
Receivables (981) 1,168 (775)
Fuel inventory (318) 354 (139)
Noncurrent assets (76) 210 111
Profit sharing 108 (1,650) 354
Other payables, deferred revenue and accrued liabilities 1,986 240 144
Noncurrent liabilities (399) 1,185 (16)
Other, net 57 559 244
Net cash provided by/(used in) operating activities 3,264 (3,793) 8,425
Property and equipment additions:      
Flight equipment, including advance payments (1,596) (896) (3,344)
Ground property and equipment, including technology (1,651) (1,003) (1,592)
Proceeds from sale-leaseback transactions 0 465 0
Purchase of equity investments 0 (2,099) (170)
Sale of equity investments 0 0 279
Purchase of short-term investments (12,655) (13,400) 0
Redemption of short-term investments 15,036 7,608 206
Other, net (32) 87 58
Net cash used in investing activities (898) (9,238) (4,563)
Cash Flows From Financing Activities:      
Proceeds from short-term obligations 0 3,261 1,750
Proceeds from long-term obligations 1,902 22,790 2,057
Proceeds from sale-leaseback transactions 0 2,306 0
Payments on debt and finance lease obligations (5,834) (8,559) (3,320)
Repurchase of common stock 0 (344) (2,027)
Cash dividends 0 (260) (980)
Fuel card obligation 0 364  
Fuel card obligation     (339)
Other, net 80 (202) (21)
Net cash (used in)/provided by financing activities (3,852) 19,356 (2,880)
Net (Decrease)/Increase in Cash, Cash Equivalents and Restricted Cash (1,486) 6,325 982
Cash, cash equivalents and restricted cash at beginning of period 10,055 3,730 2,748
Cash, cash equivalents and restricted cash at end of period 8,569 10,055 3,730
Supplemental Disclosure of Cash Paid for Interest 1,506 761 481
Non-Cash Transactions:      
Right-of-use assets acquired under operating leases 2,113 1,077 464
Flight and ground equipment acquired under finance leases 1,049 381 650
Other financings 0 280 0
Operating leases converted to finance leases 42 0 190
Air traffic      
Changes in certain assets and liabilities:      
Liabilities and deferred revenue 1,814 (572) 454
Loyalty program      
Changes in certain assets and liabilities:      
Liabilities and deferred revenue $ 376 $ 455 $ 87
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Consolidated Statements of Stockholders' Equity - USD ($)
shares in Millions, $ in Millions
Total
Common Stock
Additional Paid-in Capital
Retained Earnings / (Deficit)
Accumulated Other Comprehensive Loss
Treasury Stock
Beginning balance at Dec. 31, 2018 $ 13,687 $ 0 $ 11,671 $ 10,039 $ (7,825) $ (198)
Beginning balance (shares) at Dec. 31, 2018   688       8
Consolidated Statements of Stockholders' Equity            
Net income/(loss) 4,767     4,767    
Dividends declared (981)     (981)    
Other comprehensive income (loss) (164)       (164)  
Common stock issued for employee equity awards and other [1] 76   114     $ (38)
Common stock issued for employee equity awards and other (shares) [1]   2       1
Stock purchased and retired (2,027)   (656) (1,371)    
Stock purchased and retired (shares)   (38)        
Ending balance at Dec. 31, 2019 15,358 $ 0 11,129 12,454 (7,989) $ (236)
Ending balance (shares) at Dec. 31, 2019   652       9
Consolidated Statements of Stockholders' Equity            
Net income/(loss) (12,385)     (12,385)    
Dividends declared (257)     (257)    
Other comprehensive income (loss) (1,049)       (1,049)  
Common stock issued for employee equity awards and other [1] 97   120     $ (23)
Common stock issued for employee equity awards and other (shares) [1]   1       0
Stock purchased and retired (344)   (104) (240)    
Stock purchased and retired (shares)   (6)        
Government grant warrant issuance 114   114      
Ending balance at Dec. 31, 2020 1,534 $ 0 11,259 (428) (9,038) $ (259)
Ending balance (shares) at Dec. 31, 2020   647       9
Consolidated Statements of Stockholders' Equity            
Net income/(loss) 280     280    
Other comprehensive income (loss) 1,908       1,908  
Common stock issued for employee equity awards and other [1] 79   102     $ (23)
Common stock issued for employee equity awards and other (shares) [1]   3       1
Government grant warrant issuance 86   86      
Ending balance at Dec. 31, 2021 $ 3,887 $ 0 $ 11,447 $ (148) $ (7,130) $ (282)
Ending balance (shares) at Dec. 31, 2021   650       10
[1] Treasury shares were withheld for payment of taxes, at a weighted average price per share of $38.87, $52.17 and $50.20 in 2021, 2020 and 2019, respectively.
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Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Statement of Stockholders' Equity [Abstract]      
Treasury shares withheld for payment of taxes, weighted average price per share (USD per share) $ 38.87 $ 52.17 $ 50.20
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Summary of Significant Accounting Policies
 12 Months Ended
Dec. 31, 2021
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation

Delta Air Lines, Inc., a Delaware corporation, provides scheduled air transportation for passengers and cargo throughout the United States ("U.S.") and around the world. Our Consolidated Financial Statements include the accounts of Delta Air Lines, Inc. and our consolidated subsidiaries and have been prepared in accordance with accounting principles generally accepted in the U.S. ("GAAP"). We are the primary beneficiary of, and have a controlling financial interest in, certain immaterial entities in which we have voting rights of 50% or less, which we consolidate in our financial results.

We have marketing alliances with other airlines to enhance our access to domestic and international markets. These arrangements may include codesharing, reciprocal loyalty program benefits, shared or reciprocal access to passenger lounges, joint promotions, common use of airport gates and ticket counters, ticket office co-location and other marketing agreements. We have received antitrust immunity for certain marketing arrangements, which enables us to offer a more integrated route network and develop common sales, marketing and discount programs for customers. Some of our marketing arrangements provide for the sharing of revenues and expenses. Revenues and expenses associated with collaborative arrangements are presented on a gross basis in the applicable line items on our Consolidated Statements of Operations ("income statement").

We have reclassified certain prior period amounts to conform to the current period presentation. Unless otherwise noted, all amounts disclosed are stated before consideration of income taxes.

Regional Carrier Expense

Until 2021, we allocated certain costs (such as landing fees and other rents, salaries and related costs and contracted services) to regional carrier expense in our income statement based on relevant statistics (such as passenger counts). Beginning in 2021 we ceased performing this allocation and have reclassified the costs presented in prior periods to align with this presentation. This reclassification better reflects the nature of, and how management views, these regional carrier related expenses. This allocation was approximately $900 million in 2020 and $1.4 billion in 2019. The amounts in regional carrier expense under the current presentation represent the accrual of payments to our regional carriers under capacity purchase agreements, maintenance costs related to our regional fleet and the expenses of our wholly owned regional subsidiary, Endeavor Air, Inc.

Use of Estimates

We are required to make estimates and assumptions when preparing our Consolidated Financial Statements in accordance with GAAP. These estimates and assumptions affect the amounts reported in our Consolidated Financial Statements and the accompanying notes. Actual results could differ materially from those estimates.

Recent Accounting Standards

Government Assistance. In 2021, the Financial Accounting Standards Board issued Accounting Standards Update ("ASU") No. 2021-10, "Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance." This ASU will require certain disclosures about the significant terms and conditions of material government assistance agreements in order to provide more consistent information to users of the financial statements. This standard is effective for annual reporting periods beginning after December 15, 2021, and early adoption is permitted. We determined that our material government assistance agreements are the payroll support program agreements under the Coronavirus Aid, Relief and Economic Security Act ("CARES Act") and the program extensions, and we adopted the new standard in 2021. See Note 6, "Debt," where we reflect the requirements of this new standard as it relates to our payroll support program disclosures.
Significant Accounting Policies

Our significant accounting policies are disclosed below or included within the topic-specific notes included herein.

Cash and Cash Equivalents and Short-Term Investments

Short-term, highly liquid investments with maturities of three months or less when purchased are classified as cash and cash equivalents. Investments with maturities of greater than three months, but not in excess of one year, when purchased are classified as short-term investments. Investments with maturities beyond one year when purchased may be classified as short-term investments if they are expected to be available to support our short-term liquidity needs. Our short-term investments are classified as fair value investments and gains and losses are recorded in non-operating expense.

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the Consolidated Balance Sheets ("balance sheets") that sum to the total of the same such amounts shown within the Consolidated Statements of Cash Flows ("cash flows statement").

Reconciliation of cash, cash equivalents and restricted cash
December 31,
(in millions)202120202019
Current assets:
Cash and cash equivalents$7,933 $8,307 $2,882 
Restricted cash included in prepaid expenses and other163 192 212 
Noncurrent assets:
Cash restricted for airport construction473 1,556 636 
Total cash, cash equivalents and restricted cash$8,569 $10,055 $3,730 

Inventories

Fuel. As part of our strategy to mitigate the cost of the refining margin reflected in the price of jet fuel, our wholly owned subsidiary, Monroe Energy, LLC ("Monroe"), operates the Trainer oil refinery. Refined products (finished goods) and feedstock and blendstock inventories (work-in-process) are both carried at the lower of cost and net realizable value. We use jet fuel in our airline operations that is produced by the refinery and procured through the exchange with third parties of gasoline, diesel and other refined products ("non-jet fuel products") the refinery produces. Cost is determined using the first-in, first-out method. Costs include the raw material consumed plus direct manufacturing costs (such as labor, utilities and supplies) as incurred and an applicable portion of manufacturing overhead.

Expendables Parts and Supplies. Inventories of expendable parts related to flight equipment, which cannot be economically repaired, reconditioned or reused after removal from the aircraft, are carried at moving average cost and charged to aircraft maintenance materials and outside repairs as consumed. An allowance for obsolescence is provided over the remaining useful life of the related fleet. We also provide allowances for parts identified as excess or obsolete to reduce the carrying costs to the lower of cost or net realizable value. These parts are estimated to have residual value of 5% of the original cost.

Accounting for Refinery Related Buy/Sell Agreements

To the extent that we receive jet fuel for non-jet fuel products exchanged under buy/sell agreements, we account for these transactions as nonmonetary exchanges. We have recorded these nonmonetary exchanges at the carrying amount of the non-jet fuel products transferred within aircraft fuel and related taxes on the income statement.

Derivatives

Changes in fuel prices, interest rates and foreign currency exchange rates impact our results of operations. In an effort to manage our exposure to these risks, we may enter into derivative contracts and adjust our derivative portfolio as market conditions change. Our derivative contracts are recognized at fair value on our balance sheets and have net balances of $17 million and $1 million at December 31, 2021 and 2020, respectively.
Long-Lived Assets

Our long-lived lived assets, including flight equipment, which consists of aircraft and associated engines and parts, operating lease right-of-use ("ROU") assets and other long-lived assets, are recorded in property and equipment, net and operating lease right-of-use assets on our balance sheets. See Note 7, "Leases," for further information regarding our leases. The following table summarizes our property and equipment:

Property and equipment by classification
December 31,
(in millions, except for estimated useful life)Estimated Useful Life20212020
Flight equipment
20-34 years
$33,368 $31,572 
Ground property and equipment
3-40 years
7,758 6,387 
Information technology-related assets
3-15 years
3,389 3,403 
Flight and ground equipment under finance leasesShorter of lease term or estimated useful life2,052 1,795 
Advance payments for equipment853 883 
Less: accumulated depreciation and amortization(1)
(18,671)(17,511)
Total property and equipment, net$28,749 $26,529 
(1)Includes accumulated amortization for flight and ground equipment under finance leases in the amount of $456 million and $793 million at December 31, 2021 and 2020, respectively.

We record property and equipment at cost and depreciate or amortize these assets on a straight-line basis to their estimated residual values over their estimated useful lives. The estimated useful life for leasehold improvements is the shorter of lease term or estimated useful life. Depreciation and amortization expense related to our property and equipment was $2.0 billion, $2.3 billion and $2.6 billion for the years ended December 31, 2021, 2020 and 2019, respectively. Residual values for owned aircraft, engines, spare parts and simulators are generally 5% to 10% of cost.

We capitalize certain internal and external costs incurred to develop and implement software and amortize those costs over an estimated useful life of three to ten years. Included in the depreciation and amortization expense discussed above, we recorded $301 million, $304 million and $239 million for amortization of capitalized software for the years ended December 31, 2021, 2020 and 2019, respectively. The net book value of these assets, which are included in information technology-related assets above, totaled $876 million and $1.0 billion at December 31, 2021 and 2020, respectively.

Our tangible assets consist primarily of flight equipment, which is mobile across geographic markets. Accordingly, assets are not allocated to specific geographic regions.

We review flight equipment, ROU assets and other long-lived assets used in operations for impairment losses when events and circumstances indicate the assets may be impaired. Factors which could be indicators of impairment include, but are not limited to (1) a decision to permanently remove flight equipment or other long-lived assets from operations, (2) significant changes in the estimated useful life, (3) significant changes in projected cash flows, (4) permanent and significant declines in fleet fair values and (5) changes to the regulatory environment. For long-lived assets held for sale, we discontinue depreciation and record impairment losses when the carrying amount of these assets is greater than the fair value less the cost to sell.

To determine whether impairments exist for aircraft used in operations, we group assets at the fleet type level or at the contract level for aircraft operated by third-party regional carriers (i.e., the lowest level for which there are identifiable cash flows) and then estimate future cash flows based on projections of capacity, passenger mile yield, fuel and labor costs and other relevant factors. If an asset group is impaired, the impairment loss recognized is the amount by which the asset group's carrying amount exceeds its estimated fair value. We estimate aircraft fair values using published sources, appraisals and bids received from third parties, as available. Due to the impacts of the COVID-19 pandemic, we evaluated our fleet during 2020 and determined that only the fleet types discussed in Note 15, "Restructuring," were impaired, as the future cash flows from the operation of other fleet types through the respective retirement dates exceeded the carrying value. Due to the recovery in demand that we have experienced throughout 2021, we decided not to retire any additional aircraft and returned to service a majority of the aircraft that were temporarily parked in 2020. We recorded no further impairments during 2021. As we gained updated information during the year, we updated estimates to the 2020 fleet-related impairment charges and recorded adjustments of $19 million to certain of the restructuring charges during 2021.
Income Taxes

We account for deferred income taxes under the liability method. We recognize deferred tax assets and liabilities based on the tax effects of temporary differences between the financial statement and tax basis of assets and liabilities, as measured by current enacted tax rates. Deferred tax assets and liabilities are net by jurisdiction and are recorded as noncurrent on the balance sheet.

We have elected to recognize earnings of foreign affiliates that are determined to be global intangible low tax income in the period it arises and do not recognize deferred taxes for basis differences that may reverse in future years.

A valuation allowance is recorded to reduce deferred tax assets when necessary. We periodically assess whether it is more likely than not that we will generate sufficient taxable income to realize our deferred income tax assets. We establish valuation allowances if it is more likely than not that we will be unable to realize our deferred income tax assets. In making this determination, we consider available positive and negative evidence and make certain assumptions. We consider, among other things, projected future taxable income, scheduled reversals of deferred tax liabilities, the overall business environment, our historical financial results and tax planning strategies. See Note 11, "Income Taxes," for further information on our deferred income taxes.

Fuel Card Obligation

We have a purchasing card with American Express for the purpose of buying jet fuel and crude oil. The card carried a maximum credit limit of $1.1 billion as of December 31, 2021 and must be paid monthly. At both December 31, 2021 and 2020, we had $1.1 billion outstanding on this purchasing card and the activity was classified as a financing activity in our cash flows statement.

Retirement of Repurchased Shares

We immediately retire shares repurchased pursuant to any share repurchase program. We allocate the share purchase price in excess of par value between additional paid-in capital and retained earnings.

Manufacturers' Credits

We periodically receive credits in connection with the acquisition of aircraft and engines. These credits are deferred until the aircraft and engines are delivered, and then applied as a reduction to the cost of the related equipment.

Maintenance Costs

We record maintenance costs related to our mainline and regional fleets in aircraft maintenance materials and outside repairs and regional carrier expense, respectively. Maintenance costs are expensed as incurred, except for costs incurred under power-by-the-hour contracts, which are expensed based on actual hours flown. Power-by-the-hour contracts transfer certain risk to third-party service providers and fix the amount we pay per flight hour to the service provider in exchange for maintenance and repairs under a predefined maintenance program. Modifications that enhance the operating performance or extend the useful lives of airframes or engines are capitalized and amortized over the remaining estimated useful life of the asset or the remaining lease term, whichever is shorter.

Advertising Costs

We expense advertising costs in passenger commissions and other selling expenses in the year the advertising first takes place. Advertising expense was $198 million, $119 million and $288 million for the years ended December 31, 2021, 2020 and 2019, respectively.

Commissions and Merchant Fees

Passenger sales commissions and merchant fees are recognized in passenger commissions and other selling expenses when the related revenue is recognized.
Carbon Offset Costs

We may purchase and retire carbon offsets and we expense the cost of carbon offsets upon retirement of the credits within aircraft fuel and related taxes on our income statement as these costs are related to our carbon emissions generated by our airline segment. The purchase of carbon offsets is included in operating activities on our cash flows statement. During 2021, we purchased and retired $95 million of carbon offsets, of which $30 million relates to 13 million metric tons of carbon emissions generated by our airline segment from March 1 to December 31, 2020 as well as $65 million which relates to a portion of 2021 carbon emissions generated by our airline segment.
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Revenue Recognition
 12 Months Ended
Dec. 31, 2021
Revenue from Contract with Customer [Abstract]  
Revenue Recognition REVENUE RECOGNITION
Passenger Revenue

Passenger revenue is composed of passenger ticket sales, loyalty travel awards and travel-related services performed in conjunction with a passenger’s flight.

Passenger revenue by category
Year Ended December 31,
(in millions)202120202019
Ticket$19,339 $10,970 $36,908 
Loyalty travel awards1,786 935 2,900 
Travel-related services1,394 978 2,469 
Total passenger revenue$22,519 $12,883 $42,277 

Ticket

Passenger Tickets. We defer sales of passenger tickets to be flown by us or that we sell on behalf of other airlines in our air traffic liability. Passenger revenue is recognized when we provide transportation or when the ticket expires unused ("ticket breakage"). For tickets that we sell on behalf of other airlines, we reduce the air traffic liability when consideration is remitted to those airlines. The air traffic liability primarily includes sales of passenger tickets with scheduled departure dates in the future and credits which can be applied as payment toward the cost of a ticket ("travel credits"). Travel credits are typically issued as a result of ticket cancellations prior to their expiration dates. We periodically evaluate the estimated air traffic liability and may record adjustments in our income statement. These adjustments relate primarily to refunds, exchanges, ticket breakage, transactions with other airlines and other items for which final settlement occurs in periods subsequent to the sale of the related tickets at amounts other than the original sales price.

We recognized approximately $2.2 billion, $3.1 billion and $3.8 billion in passenger revenue during the years ended December 31, 2021, 2020 and 2019, respectively, that had been recorded in our air traffic liability balance at the beginning of those periods.

The air traffic liability typically increases during the winter and spring months as advanced ticket sales grow prior to the summer peak travel season and decreases during the summer and fall months. However, the ongoing reduction in demand for air travel due to the COVID-19 pandemic has resulted in a lower level of advance bookings and the associated cash received, as well as significant ticket cancellations which led to issuance of cash refunds or travel credits to customers. The total value of cash refunds, excluding taxes and related fees, issued to customers during the years ended December 31, 2021 and 2020 was approximately $1.1 billion and $3.1 billion, respectively. Travel credits represented approximately 45% and 65% of the air traffic liability as of December 31, 2021 and 2020, respectively.

In the March 2021 quarter, we announced the extension of the validity of all passenger tickets and travel credits purchased or expiring in 2021 to December 31, 2022, which allowed for tickets to be rebooked through December 31, 2022 for travel through 2023. The air traffic liability classified as noncurrent as of December 31, 2021 represents our current estimate of tickets and travel credits to be used or refunded beyond one year, while the balance classified as current represents our current estimate of tickets and travel credits to be used or refunded within one year. We will continue to monitor our customers' travel behavior and may adjust our estimates in the future. In January 2022, we announced changes to expiration dates, as discussed below.
Ticket Breakage. We estimate the value of ticket breakage and recognize revenue at the scheduled flight date. Our ticket breakage estimates are primarily based on historical experience, ticket contract terms and customers’ travel behavior. Given the impact of the COVID-19 pandemic on customer behavior and changes made in ticket validity terms, as well as the elimination of change fees for most tickets as discussed below, our estimates of revenue that will be recognized from the air traffic liability for unused tickets may vary in future periods.

Further Extension to Ticket Validity. In January 2022, we announced that all existing travel credit holders will have until December 31, 2023 to rebook their ticket for travel throughout 2024. Additionally, all Delta customers with upcoming 2022 travel or who purchase a ticket in 2022 will also have the flexibility to rebook their ticket through December 31, 2023, and travel throughout 2024. This change is expected to shift a portion of our air traffic liability to noncurrent. We will also consider this change in estimating the future ticket breakage rate.

Regional Carriers. Our regional carriers include both third-party regional carriers with which we have contract carrier agreements ("contract carriers") and Endeavor Air, Inc., our wholly owned subsidiary. Our contract carrier agreements are primarily structured as capacity purchase agreements where we purchase all or a portion of the contract carrier's capacity and are responsible for selling the seat inventory we purchase. We record revenue related to our capacity purchase agreements in passenger revenue and the related expenses in regional carrier expense.

Loyalty Travel Awards

Loyalty travel awards revenue is related to the redemption of miles for travel. We recognize loyalty travel awards revenue in passenger revenue as miles are redeemed and transportation is provided. See below for discussion of our loyalty program accounting policies.

Travel-Related Services

Travel-related services are primarily composed of services performed in conjunction with a passenger’s flight, including baggage fees, on-board sales and administrative fees. We recognize revenue for these services when the related transportation service is provided.

During 2020, with the exception of Basic Economy, we eliminated change fees for all tickets originating in North America and waived change fees for tickets originating outside of North America. We also implemented a temporary waiver that allowed Basic Economy tickets with travel for 2021, which are normally non-changeable, to be changed without paying a fee regardless of origin or destination. Starting January 1, 2022, Basic Economy tickets may be cancelled for a fee to receive a partial ticket credit.

Loyalty Program

Our SkyMiles loyalty program generates customer loyalty by rewarding customers with incentives to travel on Delta. This program allows customers to earn mileage credits ("miles") by flying on Delta, Delta Connection carriers and other airlines that participate in the loyalty program. When traveling, customers earn miles primarily based on the passenger's loyalty program status, fare class and ticket price. Customers can also earn miles through participating companies such as credit card companies, hotels, car rental agencies and ridesharing companies. Miles are redeemable by customers in future periods for air travel on Delta and other participating airlines, access to our Sky Club and other program awards. To facilitate transactions with participating companies, we sell miles to non-airline businesses, customers and other airlines.

The loyalty program includes two types of transactions that are considered revenue arrangements with multiple performance obligations (1) passenger ticket sales earning miles and (2) sale of miles to participating companies.

Passenger Ticket Sales Earning Miles. Passenger ticket sales earning miles provide customers with (1) miles earned and (2) air transportation, which are each considered performance obligations. We value each performance obligation on a standalone basis. To value the miles earned, we consider the quantitative value a passenger receives by redeeming miles for a ticket rather than paying cash, which is referred to as equivalent ticket value ("ETV"). Our estimate of ETV is adjusted for miles that are not likely to be redeemed ("mileage breakage"). We use statistical models to estimate mileage breakage based on historical redemption patterns. A change in assumptions to the redemption activity for miles or the estimated fair value of miles expected to be redeemed could have a material impact on our revenue in the year in which the change occurs and in future years. We recognize mileage breakage proportionally during the period in which the remaining miles are actually redeemed.
We defer revenue for the miles when earned and recognize loyalty travel awards in passenger revenue as the miles are redeemed and transportation is provided. We record the air transportation portion of the passenger ticket sales in air traffic liability and recognize passenger revenue when we provide transportation or if the ticket goes unused.

Sale of Miles to Participating Companies. Customers earn miles based on their spending with participating companies such as credit card companies, hotels, car rental agencies and ridesharing companies with which we have marketing agreements to sell miles. Our contracts to sell miles under these marketing agreements have multiple performance obligations. Payments are typically due to us monthly based on the volume of miles sold during the period, and the initial terms of our marketing contracts are from three to eleven years. During the years ended December 31, 2021, 2020 and 2019, total cash sales from marketing agreements related to our loyalty program were $4.1 billion, $2.9 billion and $4.2 billion, respectively, which are allocated to travel and other performance obligations, as discussed below.

Our most significant contract to sell miles relates to our co-brand credit card relationship with American Express. Our agreements with American Express provide for joint marketing, grant certain benefits to Delta-American Express co-branded credit card holders ("cardholders") and American Express Membership Rewards program participants, and allow American Express to market its services or products using our customer database. Cardholders earn miles for making purchases using co-branded cards, and certain cardholders may also check their first bag for free, are granted discounted access to Delta Sky Club lounges and receive priority boarding and other benefits while traveling on Delta. Additionally, participants in the American Express Membership Rewards program may exchange their points for miles under the loyalty program. We sell miles at agreed-upon rates to American Express which are then provided to their customers under the co-brand credit card program and the Membership Rewards program.

We account for marketing agreements, including those with American Express, by allocating the consideration to the individual products and services delivered. We allocate the value based on the relative selling prices of those products and services, which generally consist of award travel, priority boarding, baggage fee waivers, lounge access and the use of our brand. We determine our best estimate of the selling prices by using a discounted cash flow analysis using multiple inputs and assumptions, including (1) the expected number of miles awarded and number of miles redeemed, (2) ETV for the award travel obligation adjusted for mileage breakage, (3) published rates on our website for baggage fees, discounted access to Delta Sky Club lounges and other benefits while traveling on Delta, (4) brand value (using estimated royalties generated from the use of our brand) and (5) volume discounts provided to certain partners.

We defer the amount allocated to award travel as part of loyalty program deferred revenue and recognize loyalty travel awards in passenger revenue as the miles are redeemed and transportation is provided. Revenue allocated to services performed in conjunction with a passenger’s flight, such as baggage fee waivers, is recognized as travel-related services in passenger revenue when the related service is performed. Revenue allocated to access Delta Sky Club lounges is recognized as miscellaneous in other revenue as access is provided. Revenue allocated to the remaining performance obligations, primarily brand value, is recorded as loyalty program in other revenue as miles are delivered.

Current Activity of the Loyalty Program. Miles are combined in one homogeneous pool and are not separately identifiable. Therefore, the revenue is comprised of miles that were part of the loyalty program deferred revenue balance at the beginning of the period as well as miles that were issued during the period.

The table below presents the activity of the current and noncurrent loyalty program deferred revenue, and includes miles earned through travel and miles sold to participating companies, which are primarily through marketing agreements.

Loyalty program activity
(in millions)202120202019
Balance at January 1$7,182 $6,728 $6,641 
Miles earned2,238 1,437 3,156 
Travel miles redeemed(1,786)(935)(2,900)
Non-travel miles redeemed(75)(48)(169)
Balance at December 31$7,559 $7,182 $6,728 
The timing of mile redemptions can vary widely; however, the majority of new miles have historically been redeemed within two years of being earned. The loyalty program deferred revenue classified as a current liability represents our current estimate of revenue expected to be recognized in the next twelve months based on projected redemptions, while the balance classified as a noncurrent liability represents our current estimate of revenue expected to be recognized beyond twelve months. Compared to pre-pandemic levels, a larger portion of mile redemptions is projected to occur beyond twelve months and is therefore reflected as a noncurrent liability as of December 31, 2021. We will continue to monitor redemptions as the situation evolves.

Cargo Revenue

Cargo revenue is recognized when we provide the transportation.

Other Revenue
Year Ended December 31,
(in millions)202120202019
Refinery$3,229 $1,150 $97 
Loyalty program1,770 1,458 1,962 
Ancillary businesses793 648 1,200 
Miscellaneous556 348 718 
Total other revenue$6,348 $3,604 $3,977 

Refinery. This represents refinery sales to third parties, which are at or near cost; accordingly, the margin on these sales is de minimis. See Note 14, "Segments," for more information on revenue recognition within our refinery segment.

Loyalty Program. Loyalty program revenues relate to brand usage by third parties and other performance obligations embedded in miles sold, including redemption of miles for non-travel awards. These revenues are included within the total cash sales from marketing agreements, discussed above.

Ancillary Businesses. Ancillary businesses includes aircraft maintenance services we provide to third parties and our vacation wholesale operations. In January 2020, we combined Delta Private Jets, our former wholly owned subsidiary which provided private jet operations, with Wheels Up. Upon closing, we received an equity stake in Wheels Up, and Delta Private Jets is no longer reflected in ancillary businesses.

Miscellaneous. Miscellaneous revenue is primarily composed of lounge access, including access provided to certain American Express cardholders, and codeshare revenues.

Revenue by Geographic Region

Operating revenue for the airline segment is recognized in a specific geographic region based on the origin, flight path and destination of each flight segment. A significant portion of the refinery's revenues typically consists of fuel sales to support the airline, which is eliminated in the Consolidated Financial Statements. The remaining operating revenue for the refinery segment is included in the domestic region. Our passenger and operating revenue by geographic region is summarized in the following table:

Revenue by geographic region
Passenger RevenueOperating Revenue
Year Ended December 31,Year Ended December 31,
(in millions)202120202019202120202019
Domestic$18,468 $10,041 $30,465 $24,320 $13,339 $33,382 
Atlantic1,777 1,171 6,326 2,537 1,649 7,308 
Latin America1,873 1,113 2,985 2,284 1,321 3,326 
Pacific401 558 2,501 758 786 2,991 
Total$22,519 $12,883 $42,277 $29,899 $17,095 $47,007 
Accounts Receivable

Accounts receivable primarily consist of amounts due from credit card companies from the sale of passenger tickets, ancillary businesses, refinery sales and other companies for the purchase of miles under the loyalty program. We provide an allowance for uncollectible accounts using an expected credit loss model which represents our estimate of expected credit losses over the lifetime of the asset. In 2020, due to the COVID-19 pandemic, we recorded reserves on certain receivables, which are discussed further in Note 15, "Restructuring".

Passenger Taxes and Fees

We are required to charge certain taxes and fees on our passenger tickets, including U.S. federal transportation taxes, federal security charges, airport passenger facility charges and foreign arrival and departure taxes. These taxes and fees are assessments on the customer for which we act as a collection agent. Because we are not entitled to retain these taxes and fees, we do not include such amounts in passenger revenue. We record a liability when the amounts are collected and reduce the liability when payments are made to the applicable government agency or operating carrier (i.e., for codeshare-related fees).
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Fair Value Measurements
 12 Months Ended
Dec. 31, 2021
Fair Value Disclosures [Abstract]  
Fair Value Measurements FAIR VALUE MEASUREMENTS
Fair value is defined as an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. Fair value is a market-based measurement that is determined based on assumptions that market participants would use in pricing an asset or liability. Each fair value measurement is classified into one of the following levels based on the information used in the valuation:

•Level 1. Observable inputs such as quoted prices in active markets.

•Level 2. Inputs, other than quoted prices in active markets, that are observable either directly or indirectly.

•Level 3. Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions.

Assets and liabilities measured at fair value are based on the valuation techniques identified in the tables below. The valuation techniques are as follows:

(a)Market Approach. Prices and other relevant information generated by observable transactions involving identical or comparable assets or liabilities; and

(b)Income Approach. Techniques to convert future amounts to a single present value amount based on market expectations (including present value techniques and option-pricing models).

Assets (Liabilities) Measured at Fair Value on a Recurring Basis(1)
December 31, 2021Valuation
Technique
(in millions)TotalLevel 1Level 2Level 3
Cash equivalents$5,450 $5,450 $— $— (a)
Restricted cash equivalents635 635 — — (a)
Short-term investments
U.S. Government securities3,386 1,376 2,010 — (a)
Long-term investments1,459 1,326 36 97 (a)(b)
Hedge derivatives, net
Fuel hedge contracts(18)— (18)— (a)(b)
Foreign currency exchange contracts1 — 1 — (a)
December 31, 2020Valuation
Technique
(in millions)TotalLevel 1Level 2Level 3
Cash equivalents$5,755 $5,755 $— $— (a)
Restricted cash equivalents1,747 1,747 — — (a)
Short-term investments
U.S. Government securities5,789 3,919 1,870 — (a)
Long-term investments1,417 948 38 431 (a)(b)
Hedge derivatives, net
Fuel hedge contracts(9)— (9)— (a)(b)
Interest rate contracts23 — 23 — (a)
Foreign currency exchange contracts(13)— (13)— (a)
(1)See Note 9, "Employee Benefit Plans," for fair value of benefit plan assets.

Cash Equivalents and Restricted Cash Equivalents. Cash equivalents generally consist of money market funds. Restricted cash equivalents are recorded in prepaid expenses and other and cash restricted for airport construction on our balance sheets and generally consist of money market funds, time deposits, commercial paper and negotiable certificates of deposit, which primarily relate to proceeds from debt issued to finance, among other things, a portion of the construction costs for our new terminal facilities at New York's LaGuardia Airport. The fair value of these cash equivalents is based on a market approach using prices generated by market transactions involving identical or comparable assets.

Short-Term Investments. The fair values of our short-term investments are based on a market approach using industry standard valuation techniques that incorporate observable inputs such as quoted market prices, interest rates, benchmark curves, credit ratings of the security and other observable information.

As of December 31, 2021, the estimated fair value of our short-term investments was $3.4 billion. Of these investments, $2.8 billion are expected to mature in one year or less, with the remainder maturing by the second half of 2023.

Long-Term Investments. Our long-term investments measured at fair value primarily consist of equity investments, which are valued based on market prices or other observable transactions and inputs, and are recorded in equity investments on our balance sheet. During 2021, both Wheels Up Experience Inc. ("Wheels Up") and Clear Secure, Inc. ("CLEAR") became publicly traded and as of December 31, 2021, our investment in both of these are classified as Level 1. In addition, our equity investments in private companies are classified as Level 3 in the fair value hierarchy as their equity is not traded on a public exchange and our valuations incorporate certain unobservable inputs, including non-public equity issuances and forecasts provided by our investees. Fair value measurement using unobservable inputs is inherently uncertain, and a change in significant inputs could result in different fair values. During the year ended December 31, 2021 there were no material gains or losses as a result of fair value adjustments. See Note 4, "Investments," for further information on our long-term investments.

Hedge Derivatives. A portion of our derivative contracts may be negotiated over-the-counter with counterparties without going through a public exchange. Accordingly, our fair value assessments give consideration to the risk of counterparty default (as well as our own credit risk). Such contracts would be classified as Level 2 within the fair value hierarchy. The remainder of our hedge contracts are comprised of futures contracts, which are traded on a public exchange. These contracts are classified within Level 1 of the fair value hierarchy.

•Fuel Hedge Contracts. Our derivative contracts to hedge the financial risk from changing fuel prices are primarily related to Monroe’s inventory. Our fuel hedge portfolio may consist of a combination of options, swaps or futures. Option and swap contracts are valued under income approaches using option pricing models and discounted cash flow models, respectively, based on data either readily observable in public markets, derived from public markets or provided by counterparties who regularly trade in public markets. Futures contracts and options on futures contracts are traded on a public exchange and valued based on quoted market prices. We recognized losses of $146 million, gains of $85 million and losses of $41 million on our fuel hedge contracts for the years ended December 31, 2021, 2020 and 2019, respectively.

•Interest Rate Contracts. Our interest rate derivatives were swap contracts, which were valued based on data readily observable in public markets. We unwound our final interest rate contract in January 2021 and have no contracts open as of December 31, 2021.
•Foreign Currency Exchange Contracts. Our foreign currency derivatives consist of forward contracts and are valued based on data readily observable in public markets.
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Investments
 12 Months Ended
Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]  
Investments INVESTMENTS
We have developed strategic relationships with a number of airlines and airline services companies through joint ventures and other forms of cooperation and support, including equity investments. Our equity investments reinforce our commitment to these relationships and generally enhance our ability to offer input to the investee on strategic issues and direction, in some cases through representation on the board of directors.

Changes in the valuation of investments accounted for at fair value are recorded in gain/(loss) on investments, net in our income statement within non-operating expense and are driven by changes in stock prices, other valuation techniques for investments in companies without publicly-traded shares and foreign currency fluctuations.

Our share of Unifi Aviation's financial results is recorded in contracted services in our income statement as this entity is integral to the operations of our business by providing services at our airport locations, while our share of other equity method investees' financial results is recorded in impairments and equity method losses in our income statement under non-operating expense. If an investment accounted for under the equity method experiences a loss in value that is determined to be other than temporary, we will reduce our carrying value of the investment to fair value and record the loss in impairments and equity method losses in our income statement.

Equity investments ownership interest and carrying value
Accounting TreatmentOwnership InterestCarrying Value
(in millions)December 31, 2021December 31, 2020December 31, 2021December 31, 2020
Wheels UpFair Value21 %24 %$241 $210 
Hanjin-KALFair Value13 %13 %455 512 
Air France-KLMFair Value6 %9 %165 235 
China EasternFair Value2 %3 %177 201 
CLEARFair Value6 %6 %260 120 
Unifi AviationEquity Method49 %49 %159 154 
Other investmentsVarious255 233 
Equity investments$1,712 $1,665 


Wheels Up. In the September 2021 quarter, Wheels Up became a publicly-traded company through a merger with Aspirational Consumer Lifestyle Corp ("Aspirational"). Aspirational subsequently changed its name to Wheels Up Experience Inc. and its common stock trades on the New York Stock Exchange under the symbol UP. We account for our investment under the fair value option and use the stock price to recognize fair value adjustments.

CLEAR. In the June 2021 quarter, Clear Secure, Inc. completed an initial public offering of Class A common stock, which trades on the New York Stock Exchange under the symbol YOU. We own shares of Alclear Holdings, LLC, which are convertible on a one-to-one basis for the Class A common stock of Clear. Our 6% ownership interest in Clear is determined on a fully exchanged and converted basis. We account for our investment under the fair value method and use the stock price to recognize fair value adjustments.

Other Investments. This category includes various investments that are accounted for at fair value or under the equity method, depending on our ownership interest and the level of influence conveyed by our investment. Included therein are our investments in Grupo Aeroméxico, LATAM Airlines Group S.A. ("LATAM") and Virgin Atlantic, all of which are undergoing in-court or out-of-court restructurings, and the carrying values of these investments have been reduced to and remain zero as of December 31, 2021. In order to support our relationships with these carriers, we have provided them with strategic and operational assistance through their restructurings.
In the December 2021 quarter, we purchased approximately $525 million in obligations from certain lenders under LATAM, Grupo Aeroméxico and Virgin Atlantic’s restructuring processes, which reduced current maturities of debt and finance leases on the balance sheet. These purchases are reflected as financing outflows on the cash flows statement. As a result of these purchases, we have assumed a pro-rata portion of each lender’s rights under the financing arrangements with each respective partner, which are recorded within other noncurrent assets as of December 31, 2021. The receivables from Grupo Aeroméxico and LATAM are subject to certain reserves based on our assessment of collectability, the amounts of which are not material.

In addition to the loans we purchased from a third party lender in Virgin Atlantic’s restructuring process, in the December 2021 quarter, we also loaned $275 million to Virgin Atlantic which is reflected as an investing outflow on the cash flows statement. After the carrying amount of our investment in Virgin Atlantic was reduced to zero during 2020, we have continued to track our 49% share of their losses under the equity method of accounting. These previously unrecognized losses are only recorded to the extent we make additional investments in Virgin Atlantic (i.e., additional shareholder support). The loans we have extended to Virgin Atlantic are treated as additional shareholder support and during 2021 resulted in our recognition of $340 million of previously unrecognized losses in impairments and equity method losses within non-operating expense in our income statement. As of December 31, 2021, we have an additional $130 million of unrecognized equity method losses related to our 49% interest in Virgin Atlantic.

Upon completion of their respective processes, we expect to receive an approximately 20% equity stake in Grupo Aeroméxico and an approximately 10% equity stake in LATAM, while maintaining our 49% equity stake in Virgin Atlantic. Our total investments to be made in these carriers, inclusive of the transactions described above, will be approximately $1.2 billion.

We also have an investment in JFK IAT Member LLC which is accounted for under the equity method and is discussed further in Note 8, "Airport Redevelopment."

GOL. During 2020, we loaned GOL Linhas Aéreas Inteligentes, the parent company of GOL Linhas Aéreas (operating as GOL), $250 million to be used exclusively to repay the term loan we had previously guaranteed. As of December 31, 2020, GOL had repaid approximately $160 million of this loan and during 2021 GOL repaid the remaining balance.
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Goodwill and Intangible Assets
 12 Months Ended
Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets GOODWILL AND INTANGIBLE ASSETS
Goodwill and Indefinite-Lived Intangible Assets

Our goodwill and identifiable intangible assets relate to the airline segment. We apply a fair value-based impairment test to the carrying value of goodwill and indefinite-lived intangible assets on an annual basis (as of October 1) and, if certain events or circumstances indicate that an impairment loss may have been incurred, on an interim basis. We assess the value of our goodwill and indefinite-lived assets under either a qualitative or quantitative approach. Under a qualitative approach, we consider various market factors, including certain of the key assumptions listed below. We analyze these factors to determine if events and circumstances have affected the fair value of goodwill and indefinite-lived intangible assets. If we determine that it is more likely than not that the asset may be impaired, we use the quantitative approach to assess the asset's fair value and the amount of the impairment. Under a quantitative approach, we calculate the fair value of the asset incorporating the key assumptions listed below into our calculation.

We value goodwill and indefinite-lived intangible assets primarily using market and income approach valuation techniques. These measurements include the following key assumptions (1) forecasted revenues, expenses and cash flows, including the duration and extent of impact to our business and our alliance partners from the COVID-19 pandemic, (2) current discount rates, (3) observable market transactions and (4) anticipated changes to the regulatory environment (e.g., changes in slot access and/or availability, additional Open Skies agreements or changes to antitrust approvals). These assumptions are consistent with those that hypothetical market participants would use. Because we are required to make estimates and assumptions when evaluating goodwill and indefinite-lived intangible assets for impairment, actual transaction amounts may differ materially from these estimates. We recognize an impairment charge if the asset's carrying value exceeds its estimated fair value.
Changes in certain events and circumstances could result in impairment or a change from indefinite-lived to definite-lived. Factors which could cause impairment include, but are not limited to (1) negative trends in our market capitalization, (2) reduced profitability resulting from lower passenger mile yields or higher input costs (primarily related to fuel and employees), (3) lower passenger demand as a result of weakened U.S. and global economies, global pandemics or other factors, (4) interruption to our operations due to a prolonged employee strike, terrorist attack or other reasons, (5) changes to the regulatory environment (e.g., changes in slot access and/or availability, additional Open Skies agreements or changes to antitrust approvals), (6) competitive changes by other airlines and (7) strategic changes to our operations leading to diminished utilization of the intangible assets.

Identifiable Intangible Assets. Indefinite-lived assets are not amortized and consist of routes, slots, the Delta tradename and assets related to alliances and collaborative arrangements. Definite-lived intangible assets consist primarily of marketing and maintenance service agreements and are amortized on a straight-line basis or under the undiscounted cash flows method over the estimated economic life of the respective agreements. Costs incurred to renew or extend the term of an intangible asset are expensed as incurred.

As a result of the significant impact the COVID-19 pandemic had on our market capitalization, profitability and overall travel demand, we performed a quantitative valuation of our goodwill and indefinite-lived intangible assets during the December 2020 quarter. These quantitative impairment tests of goodwill and intangibles concluded that there was no indication of impairment as the fair value exceeded our carrying value. In the December 2021 quarter we performed qualitative assessments of goodwill and indefinite-lived intangible assets, including applicable factors noted above, and determined that there was no indication that the assets were impaired. Our qualitative assessments include analyses and weighting of all relevant factors that impact the fair value of our goodwill and indefinite-lived intangible assets.

Goodwill and indefinite-lived intangible assets by category
Carrying Value atExcess Fair Value at 2020 Testing Date
(in millions)December 31, 2021December 31, 2020
Goodwill$9,753 $9,753 
>100%
International routes and slots2,583 2,583 
10% to 30%
Airline alliances1,863 1,863 
20% to >100%
Delta tradename850 850 
>100%
Domestic slots622 622 
60% to >100%
Total$15,671 $15,671 

International Routes and Slots. This primarily relates to Pacific route authorities and slots at capacity-constrained airports in Asia, and slots at London-Heathrow airport.

Airline Alliances. This primarily relates to our commercial agreements with LATAM and our SkyTeam partners.

Domestic Slots. This primarily relates to our slots at New York-LaGuardia and Washington-Reagan National airports.

Definite-Lived Intangible Assets

Definite-lived intangible assets by category
December 31, 2021December 31, 2020
(in millions)Gross Carrying Value 
Accumulated
Amortization		Gross Carrying Value 
Accumulated
Amortization
Marketing agreements$730 $(700)$730 $(696)
Maintenance contracts193 (140)193 (134)
Other53 (53)53 (53)
Total$976 $(893)$976 $(883)

Amortization expense was $10 million, $10 million and $11 million for the years ended December 31, 2021, 2020 and 2019, respectively. Based on our definite-lived intangible assets at December 31, 2021, we estimate that we will incur approximately $9 million of amortization expense annually from 2022 through 2026.
v3.22.0.1
Debt
 12 Months Ended
Dec. 31, 2021
Debt Disclosure [Abstract]  
Debt DEBT
The following table summarizes our debt as of the dates indicated below:

Summary of outstanding debt by category
Maturity
Interest Rate(s) Per Annum at
December 31,
(in millions)DatesDecember 31, 202120212020
Unsecured notes2022to20292.90%to7.38%$4,354 $5,350 
Unsecured Payroll Support Program Loans2030to 20311.00%3,4961,648 
Financing arrangements secured by SkyMiles assets:
SkyMiles Notes(1)
2023to20284.50%and 4.75%6,000 6,000 
SkyMiles Term Loan(1)(2)
2023to20274.75%2,820 3,000 
Financing arrangements secured by slots, gates and/or routes:
2020 Senior Secured Notes20257.00%2,589 3,500 
2020 Term Loann/an/a— 1,493 
2018 Revolving Credit Facility(2)
2023to2024Undrawn— — 
Financing arrangements secured by aircraft:
Certificates(1)
2022to20282.00%to8.00%1,932 2,633 
Notes(1)(2)
2022to20330.79%to5.75%1,139 1,284 
NYTDC Special Facilities Revenue Bonds, Series 2020(1)
2026to20454.00%to5.00%1,511 1,511 
NYTDC Special Facilities Revenue Bonds, Series 2018(1)
2022to20364.00%to5.00%1,383 1,383 
Other financings(1)(2)
2022to20302.51%to8.00%68 412 
Other revolving credit facilities(2)
2022to2024Undrawn— — 
Total secured and unsecured debt25,292 28,214 
Unamortized (discount)/premium and debt issuance cost, net and other(208)(240)
Total debt25,084 27,974 
Less: current maturities(1,502)(1,443)
Total long-term debt$23,582 $26,531 
(1)Due in installments.
(2)Certain financings are comprised of variable rate debt. All variable rates are equal to LIBOR (generally subject to a floor) or another index rate plus a specified margin.

Unsecured Payroll Support Program Extension Loans

A summary of the amounts received and warrants issued under the initial payroll support program under the CARES Act and the payroll support program extensions is set forth in the following table:

Summary of payroll support program activity
(in millions)TotalGrantLoanNumber of Warrants
Percentage of Outstanding Shares at December 31, 2021
Payroll Support Program (PSP1)$5,594 $3,946 $1,648 6.8 1.1 %
Payroll Support Program Extension (PSP2)3,290 2,333 957 2.4 0.4 %
Payroll Support Program 3 (PSP3)3,069 2,178 891 1.9 0.3 %
Total$11,953 $8,457 $3,496 11.1 1.8 %

Grants received were recognized in government grant recognition in our income statement over the periods that the funds were intended to compensate. The PSP1 grant was recognized during 2020 and grants received from PSP2 and PSP3 were fully recognized during 2021.
Payroll Support Program Extension (PSP2). The Consolidated Appropriations Act, 2021 was enacted on December 27, 2020, and included an extension of the payroll support program created under the CARES Act providing an additional $15 billion in grants and loans to the airline industry. In January 2021, we entered into a payroll support program extension agreement with the U.S. Department of the Treasury. During the six months ended June 30, 2021, we received a total of $3.3 billion in payroll support payments under this extension agreement, which we were required to use exclusively for the payment of employee wages, salaries and benefits and were conditioned on our agreement to refrain from conducting involuntary employee layoffs or furloughs from the date of the extension agreement through March 2021. Other conditions include prohibitions on share repurchases and dividends through March 2022 and certain limitations on executive compensation until October 2022. The Department of Transportation also has the authority until March 1, 2022 to require airlines that received payroll support program funds to maintain scheduled air service deemed necessary to any point served by the airline before March 1, 2020.

These support payments consisted of $2.3 billion in a grant and $957 million in an unsecured 10-year low interest loan. In return, we entered into a promissory note for the loan and issued warrants to the U.S. Department of the Treasury to acquire approximately 2.4 million shares of Delta common stock. The loan bears interest at an annual rate of 1.00% for the first five years and the applicable Secured Overnight Financing Rate ("SOFR") plus 2.00% in the final five years. The warrants have an initial exercise price of $39.73 per share, subject to adjustment in certain cases, and a five-year term. We have recorded the value of the promissory note and warrants on a relative fair value basis as $905 million of noncurrent debt, net of discount, and $52 million in additional paid in capital, respectively.

Payroll Support Program 3 (PSP3). The American Rescue Plan Act of 2021 was enacted on March 11, 2021, and included a further extension of the payroll support program providing an additional $14 billion in grants and loans to the airline industry. In April 2021, we entered into a Payroll Support Program 3 Agreement with the U.S. Department of the Treasury. During the June 2021 quarter, we received a total of $3.1 billion in payroll support payments under this agreement, which we were required to use exclusively for the payment of employee wages, salaries and benefits and was conditioned on our agreement to refrain from conducting involuntary employee layoffs or furloughs from the date of the agreement through September 30, 2021 or the date on which we have expended all of the payroll support, whichever is later. We expended all of the payroll support during 2021. Other conditions include prohibitions on share repurchases and dividends through September 30, 2022 and certain limitations on executive compensation until April 1, 2023.

These support payments consisted of $2.2 billion in a grant and $891 million in an unsecured 10-year low interest loan. In return, we entered into a promissory note for the loan and issued warrants to the U.S. Department of the Treasury to acquire approximately 1.9 million shares of Delta common stock. The loan bears interest at an annual rate of 1.00% for the first five years and the applicable SOFR plus 2.00% in the final five years. The warrants have an initial exercise price of $47.80 per share, subject to adjustment in certain cases, and a five-year term. We have recorded the value of the promissory note and warrants on a relative fair value basis as $857 million of noncurrent debt, net of discount, and $34 million in additional paid in capital, respectively.

2020 Term Loan

In 2020 we entered into a $1.5 billion term loan secured by certain slots, gates and routes. In the March 2021 quarter, we repaid in full the term loan, which was scheduled to mature in April 2023, and incurred a $56 million loss on extinguishment of debt, which is recorded in loss on extinguishment of debt in non-operating expense in our income statement.

Enhanced Equipment Trust Certificates ("EETCs") Prepayments

In the June 2021 quarter, we repaid in full approximately $450 million of various EETCs which were scheduled to mature between 2022 and 2023, and incurred a $26 million loss on extinguishment of debt, which is recorded in loss on extinguishment of debt in non-operating expense in our income statement.
Early Settlement of Outstanding Notes

In July 2021, we completed a cash tender offer for an aggregate purchase price of $1.0 billion, excluding accrued and unpaid interest, of our outstanding 7.0% Senior Secured Notes due 2025 (the "2025 Notes"), 7.375% Notes due 2026 (the "2026 Notes") and 4.5% Senior Secured Notes due 2025 (the "2025 SkyMiles Notes"). As a result of the tender offer, we purchased 2025 Notes, included as 2020 Senior Secured Notes in the table above, with principal amount of $677 million for approximately $800 million and 2026 Notes, included in Unsecured Notes in the table above, with principal amount of $169 million for approximately $200 million. We did not purchase any of the 2025 SkyMiles Notes under the tender offer. In addition to the early settlement of the principal amount of the purchased notes, we recorded a loss of $166 million on extinguishment of debt in non-operating expense in our income statement.

During the second half of 2021, we also repurchased $647 million of various secured certificates, unsecured notes and a portion of the SkyMiles Term Loan on the open market. These payments resulted in a $71 million loss on extinguishment of debt.

In January 2022, we irrevocably committed to the early redemption of $1.0 billion of our 3.625% unsecured notes that had an original maturity during March 2022. We will repay these notes plus accrued interest during February 2022.

Availability Under Revolving Facilities

As of December 31, 2021, we had approximately $2.9 billion undrawn and available under our revolving credit facilities. In addition, we had $300 million outstanding letters of credit as of December 31, 2021 that did not affect the availability under our revolvers.

Fair Value of Debt

Market risk associated with our fixed- and variable-rate debt relates to the potential reduction in fair value and negative impact to future earnings, respectively, from an increase in interest rates. The fair value of debt, shown below, is principally based on reported market values, recently completed market transactions and estimates based on interest rates, maturities, credit risk and underlying collateral. Debt is primarily classified as Level 2 within the fair value hierarchy.

Fair value of outstanding debt
(in millions)December 31,
2021		December 31,
2020
Net carrying amount$25,084 $27,974 
Fair value$26,900 $29,800 

Covenants

Our debt agreements contain various affirmative, negative and financial covenants. For example, our credit facilities and our SkyMiles financing agreements, contain, among other things, a minimum liquidity covenant. The minimum liquidity covenant requires us to maintain at least $2.0 billion of liquidity (defined as cash, cash equivalents, short-term investments and aggregate principal amount committed and available to be drawn under our revolving credit facilities). Certain of our debt agreements also include collateral coverage ratios and limit our ability to (1) incur liens under certain circumstances, (2) dispose of collateral, (3) engage in mergers and consolidations or transfer all or substantially all of our assets and (4) pay dividends or repurchase our common stock through September 2022. Our SkyMiles financing agreements include a debt service coverage ratio and also restrict our ability to, among other things, (1) modify the terms of the SkyMiles program, or otherwise change the policies and procedures of the SkyMiles program, in a manner that would reasonably be expected to materially impair repayment of the SkyMiles Debt, (2) sell pre-paid miles in excess of $550 million in the aggregate and (3) terminate or materially modify the intercompany arrangements governing the relationship between Delta and SMIP with respect to the SkyMiles program.

Each of these restrictions, however, is subject to certain exceptions and qualifications that are set forth in these debt agreements. We were in compliance with the covenants in our debt agreements at December 31, 2021.
Future Maturities

The following table summarizes scheduled maturities of our debt for the years succeeding December 31, 2021:

Future debt maturities

(in millions)		Total DebtAmortization of
Debt (Discount)/Premium and Debt Issuance Cost, net and other
2022$1,483 $(54)
20232,516 (60)
20243,094 (61)
20254,215 (39)
20263,051 (8)
Thereafter10,933 14 
Total$25,292 $(208)$25,084 
v3.22.0.1
Leases
 12 Months Ended
Dec. 31, 2021
Leases [Abstract]  
Leases LEASES
We lease property and equipment under finance and operating leases. For leases with terms greater than 12 months, we record the related asset and obligation at the present value of lease payments over the term. Many of our leases include rental escalation clauses, renewal options and/or termination options that are factored into our determination of lease payments when appropriate. We do not separate lease and nonlease components of contracts, except for regional aircraft and information technology ("IT") assets as discussed below.

When available, we use the rate implicit in the lease to discount lease payments to present value; however, we have an insignificant number of leases representing an immaterial portion of our lease liability that provide readily determinable implicit rates. When the rate implicit in the lease is not available, we use our incremental borrowing rate, which is based on the estimated interest rate for collateralized borrowing over a similar term of the lease at commencement date.

Some of our aircraft lease agreements include provisions for residual value guarantees. These provisions primarily relate to our regional aircraft and the amounts are not significant. We do not have other forms of variable interests with the lessors of our leased assets, other than at New York-JFK, in which we are not the primary beneficiary as discussed in Note 8, "Airport Redevelopment," and with respect to one lessor, in which we have a variable interest in certain immaterial aircraft leases, that we have consolidated.

Aircraft

As of December 31, 2021, including aircraft operated by our regional carriers, we leased 290 aircraft, of which 107 were under finance leases and 183 were operating leases. Our aircraft leases had remaining lease terms of one month to 14 years.

In addition, we have regional aircraft leases that are embedded within our capacity purchase agreements and included in the ROU asset and lease liability. We allocated the consideration in each capacity purchase agreement to the lease and nonlease components based on their relative standalone value. Lease components of these agreements consist of 110 aircraft as of December 31, 2021 and nonlease components primarily consist of flight operations, in-flight and maintenance services. We determined our best estimate of the standalone value of the individual components by considering observable information including rates paid by our wholly owned subsidiary, Endeavor Air, Inc., and rates published by independent valuation firms. See Note 10, "Commitments and Contingencies," for additional information about our capacity purchase agreements.
Airport Facilities

Our facility leases are primarily for space at approximately 300 airports around the world that we serve. These leases reflect our use of airport terminals, office space, cargo warehouses and maintenance facilities. We generally lease space from government agencies that control the use of the airport, and as a result, these leases are classified as operating leases. The remaining lease terms vary from one month to 29 years. At the majority of the U.S. airports, the lease rates depend on airport operating costs or use of the facilities and are reset at least annually. Because of the variable nature of the rates, these leases are not recorded on our balance sheet as a ROU asset and lease liability.

Some airport facilities have fixed payment schedules, the most significant of which are New York-LaGuardia and New York-JFK. For those airport leases, we have recorded a ROU asset and lease liability representing the fixed component of the lease payments. See Note 8, "Airport Redevelopment," for more information on our significant airport redevelopment projects.

Other Ground Property and Equipment

We lease certain IT assets (including servers, mainframes, etc.), ground support equipment (including tugs, tractors, fuel trucks and de-icers), and various other equipment. The remaining lease terms range from one month to eight years. Certain leased assets are embedded within various ground and IT service agreements. For ground service contracts, we have elected to include both the lease and nonlease components in the lease asset and lease liability balances on our balance sheet. For IT service contracts, we have elected to separate the lease and nonlease components and only the lease components are included in the lease asset and lease liability balances on our balance sheet. The amounts of these lease and nonlease components are not significant.

Sale-Leaseback Transactions

In 2020, we entered into $2.8 billion of sale-leaseback transactions for 85 aircraft including 25 A321-200s, 25 A220-100s, 23 CRJ-900s, 10 737-900ERs and two A330-900s. Of these transactions, 74 did not qualify as a sale as they are finance leases or have an option to repurchase at a stated price. The assets associated with these transactions remain on our balance sheet within property and equipment, net and we recorded the related liabilities under the lease. These liabilities are classified within other accrued or other noncurrent liabilities on our balance sheet. The cash proceeds were treated as financing inflows on the cash flows statement.

The other 11 transactions qualified as sales, generating an immaterial loss, and the associated assets were removed from our balance sheet within property and equipment, net and recorded within ROU assets. The liabilities are recorded within current maturities of operating leases and noncurrent operating leases on our balance sheet. The cash proceeds were treated as investing cash inflows on the cash flows statement.
Lease Position

The table below presents the lease-related assets and liabilities recorded on the balance sheet.

Lease asset and liability balance sheet position by category
December 31,
(in millions)Classification on the Balance Sheet20212020
Assets
Operating lease assetsOperating lease right-of-use assets$7,237 $5,733 
Finance lease assetsProperty and equipment, net1,596 1,002 
Total lease assets$8,833 $6,735 
Liabilities
Current
OperatingCurrent maturities of operating leases$703 $678 
FinanceCurrent maturities of debt and finance leases280 289 
Noncurrent
OperatingNoncurrent operating leases7,056 5,713 
FinanceDebt and finance leases1,556 894 
Total lease liabilities$9,595 $7,574 
Weighted-average remaining lease term
Operating leases13 years12 years
Finance leases6 years5 years
Weighted-average discount rate
Operating leases
3.81 %4.88 %
Finance leases3.36 %3.61 %


Lease Costs

The table below presents certain information related to the lease costs for finance and operating leases.

Lease cost by category
Year Ended December 31,
(in millions)202120202019
Finance lease cost
Amortization of leased assets$131 $131 $110 
Interest of lease liabilities55 32 29 
Operating lease cost(1)
863 1,019 1,013 
Short-term lease cost
245 264 500 
Variable lease cost(1)
1,599 1,406 1,456 
Total lease cost$2,893 $2,852 $3,108 

(1)Expenses are classified within aircraft rent, landing fees and other rents and regional carrier expense on the income statement. For the years ended December 31, 2021, 2020 and 2019, operating lease costs of $111 million, $187 million and $174 million, respectively, are attributed to our regional carriers. For the years ended December 31, 2021, 2020 and 2019, variable lease costs of $29 million, $50 million and $64 million, respectively, are attributable to our regional carriers.
Other Information

The table below presents supplemental cash flow information related to leases.

Supplemental lease-related cash flow information
Year Ended December 31,
(in millions)202120202019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases$999 $1,053 $1,166 
Operating cash flows for finance leases46 32 27 
Financing cash flows for finance leases336 255 192 

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.

Future lease cash flows and reconciliation to the balance sheet
(in millions)Operating LeasesFinance Leases
2022$944 $324 
2023974 286 
2024894 369 
2025866 232 
2026766 168 
Thereafter5,307 636 
Total minimum lease payments9,751 2,015 
Less: amount of lease payments representing interest(1,992)(179)
Present value of future minimum lease payments7,759 1,836 
Less: current obligations under leases(703)(280)
Long-term lease obligations$7,056 $1,556 
As of December 31, 2021, we had additional leases that had not yet commenced of $403 million. These leases will commence in 2022 to 2024 with lease terms of 7 to 10 years.
Leases LEASES
We lease property and equipment under finance and operating leases. For leases with terms greater than 12 months, we record the related asset and obligation at the present value of lease payments over the term. Many of our leases include rental escalation clauses, renewal options and/or termination options that are factored into our determination of lease payments when appropriate. We do not separate lease and nonlease components of contracts, except for regional aircraft and information technology ("IT") assets as discussed below.

When available, we use the rate implicit in the lease to discount lease payments to present value; however, we have an insignificant number of leases representing an immaterial portion of our lease liability that provide readily determinable implicit rates. When the rate implicit in the lease is not available, we use our incremental borrowing rate, which is based on the estimated interest rate for collateralized borrowing over a similar term of the lease at commencement date.

Some of our aircraft lease agreements include provisions for residual value guarantees. These provisions primarily relate to our regional aircraft and the amounts are not significant. We do not have other forms of variable interests with the lessors of our leased assets, other than at New York-JFK, in which we are not the primary beneficiary as discussed in Note 8, "Airport Redevelopment," and with respect to one lessor, in which we have a variable interest in certain immaterial aircraft leases, that we have consolidated.

Aircraft

As of December 31, 2021, including aircraft operated by our regional carriers, we leased 290 aircraft, of which 107 were under finance leases and 183 were operating leases. Our aircraft leases had remaining lease terms of one month to 14 years.

In addition, we have regional aircraft leases that are embedded within our capacity purchase agreements and included in the ROU asset and lease liability. We allocated the consideration in each capacity purchase agreement to the lease and nonlease components based on their relative standalone value. Lease components of these agreements consist of 110 aircraft as of December 31, 2021 and nonlease components primarily consist of flight operations, in-flight and maintenance services. We determined our best estimate of the standalone value of the individual components by considering observable information including rates paid by our wholly owned subsidiary, Endeavor Air, Inc., and rates published by independent valuation firms. See Note 10, "Commitments and Contingencies," for additional information about our capacity purchase agreements.
Airport Facilities

Our facility leases are primarily for space at approximately 300 airports around the world that we serve. These leases reflect our use of airport terminals, office space, cargo warehouses and maintenance facilities. We generally lease space from government agencies that control the use of the airport, and as a result, these leases are classified as operating leases. The remaining lease terms vary from one month to 29 years. At the majority of the U.S. airports, the lease rates depend on airport operating costs or use of the facilities and are reset at least annually. Because of the variable nature of the rates, these leases are not recorded on our balance sheet as a ROU asset and lease liability.

Some airport facilities have fixed payment schedules, the most significant of which are New York-LaGuardia and New York-JFK. For those airport leases, we have recorded a ROU asset and lease liability representing the fixed component of the lease payments. See Note 8, "Airport Redevelopment," for more information on our significant airport redevelopment projects.

Other Ground Property and Equipment

We lease certain IT assets (including servers, mainframes, etc.), ground support equipment (including tugs, tractors, fuel trucks and de-icers), and various other equipment. The remaining lease terms range from one month to eight years. Certain leased assets are embedded within various ground and IT service agreements. For ground service contracts, we have elected to include both the lease and nonlease components in the lease asset and lease liability balances on our balance sheet. For IT service contracts, we have elected to separate the lease and nonlease components and only the lease components are included in the lease asset and lease liability balances on our balance sheet. The amounts of these lease and nonlease components are not significant.

Sale-Leaseback Transactions

In 2020, we entered into $2.8 billion of sale-leaseback transactions for 85 aircraft including 25 A321-200s, 25 A220-100s, 23 CRJ-900s, 10 737-900ERs and two A330-900s. Of these transactions, 74 did not qualify as a sale as they are finance leases or have an option to repurchase at a stated price. The assets associated with these transactions remain on our balance sheet within property and equipment, net and we recorded the related liabilities under the lease. These liabilities are classified within other accrued or other noncurrent liabilities on our balance sheet. The cash proceeds were treated as financing inflows on the cash flows statement.

The other 11 transactions qualified as sales, generating an immaterial loss, and the associated assets were removed from our balance sheet within property and equipment, net and recorded within ROU assets. The liabilities are recorded within current maturities of operating leases and noncurrent operating leases on our balance sheet. The cash proceeds were treated as investing cash inflows on the cash flows statement.
Lease Position

The table below presents the lease-related assets and liabilities recorded on the balance sheet.

Lease asset and liability balance sheet position by category
December 31,
(in millions)Classification on the Balance Sheet20212020
Assets
Operating lease assetsOperating lease right-of-use assets$7,237 $5,733 
Finance lease assetsProperty and equipment, net1,596 1,002 
Total lease assets$8,833 $6,735 
Liabilities
Current
OperatingCurrent maturities of operating leases$703 $678 
FinanceCurrent maturities of debt and finance leases280 289 
Noncurrent
OperatingNoncurrent operating leases7,056 5,713 
FinanceDebt and finance leases1,556 894 
Total lease liabilities$9,595 $7,574 
Weighted-average remaining lease term
Operating leases13 years12 years
Finance leases6 years5 years
Weighted-average discount rate
Operating leases
3.81 %4.88 %
Finance leases3.36 %3.61 %


Lease Costs

The table below presents certain information related to the lease costs for finance and operating leases.

Lease cost by category
Year Ended December 31,
(in millions)202120202019
Finance lease cost
Amortization of leased assets$131 $131 $110 
Interest of lease liabilities55 32 29 
Operating lease cost(1)
863 1,019 1,013 
Short-term lease cost
245 264 500 
Variable lease cost(1)
1,599 1,406 1,456 
Total lease cost$2,893 $2,852 $3,108 

(1)Expenses are classified within aircraft rent, landing fees and other rents and regional carrier expense on the income statement. For the years ended December 31, 2021, 2020 and 2019, operating lease costs of $111 million, $187 million and $174 million, respectively, are attributed to our regional carriers. For the years ended December 31, 2021, 2020 and 2019, variable lease costs of $29 million, $50 million and $64 million, respectively, are attributable to our regional carriers.
Other Information

The table below presents supplemental cash flow information related to leases.

Supplemental lease-related cash flow information
Year Ended December 31,
(in millions)202120202019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases$999 $1,053 $1,166 
Operating cash flows for finance leases46 32 27 
Financing cash flows for finance leases336 255 192 

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.

Future lease cash flows and reconciliation to the balance sheet
(in millions)Operating LeasesFinance Leases
2022$944 $324 
2023974 286 
2024894 369 
2025866 232 
2026766 168 
Thereafter5,307 636 
Total minimum lease payments9,751 2,015 
Less: amount of lease payments representing interest(1,992)(179)
Present value of future minimum lease payments7,759 1,836 
Less: current obligations under leases(703)(280)
Long-term lease obligations$7,056 $1,556 
As of December 31, 2021, we had additional leases that had not yet commenced of $403 million. These leases will commence in 2022 to 2024 with lease terms of 7 to 10 years.
v3.22.0.1
Airport Redevelopment
 12 Months Ended
Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]  
Airport Redevelopment AIRPORT REDEVELOPMENT
New York-JFK Airport

In 2015, we completed two phases of redevelopment at New York-JFK's Terminal 4 to facilitate convenient connections for our passengers and improve coordination with our SkyTeam alliance partners. Terminal 4 is operated by JFK International Air Terminal LLC ("IAT"), a private party, under its lease with the Port Authority of New York and New Jersey ("Port Authority"). In December 2010, we entered into a 33-year agreement with IAT ("Sublease") to sublease space in Terminal 4. Also, in 2010, the Port Authority issued approximately $800 million principal amount of special project bonds (the "Series 8 Bonds") to fund the majority of the project. In December 2020, the NYTDC issued approximately $611 million principal amount of special project bonds to refinance the outstanding balance of the Series 8 Bonds. We have recognized a ROU asset and lease liability representing the fixed component of the lease payments for this facility. During 2021, we signed an amendment to the Sublease for additional gates at JFK, increasing our lease obligation by $1.2 billion.

We have an equity method investment in JFK IAT Member LLC, which owns IAT, our sublessor at Terminal 4. The Sublease requires us to pay certain fixed management fees. We determined the investment is a variable interest entity and assessed whether we have a controlling financial interest in IAT. Our rights under the Sublease, with respect to management of Terminal 4, are consistent with rights granted to an anchor tenant under a standard airport lease. Accordingly, we do not consolidate this entity in our Consolidated Financial Statements.
We continue to plan for further expansion of Terminal 4 and during 2021, the Port Authority approved modified project plans to renovate Terminal 4 and add 10 new gates enabling us to move out of Terminal 2 and consolidate our operations at Terminal 4. The project is estimated to cost approximately $1.5 billion and we expect to amend the Sublease in the March 2022 quarter. Construction started in late 2021 with the project estimated to be complete by the end of 2023.

We have not completed our assessment of the project accounting, but we expect that we will not control the underlying assets being constructed, and therefore, do not expect to have the project asset or related obligation recorded on our balance sheet.

Los Angeles International Airport ("LAX")

We executed a modified lease agreement during 2016 with the City of Los Angeles (the "City"), which owns and operates LAX, and announced plans to modernize, upgrade and provide post-security connection to Terminals 2 and 3. Construction is underway, which includes a new centralized ticketing and arrival hall, a new security checkpoint, core infrastructure to support the City's planned airport people mover, ramp improvements and a post-security connector to the north side of the Tom Bradley International Terminal.

Given reduced passenger volumes resulting from the COVID-19 pandemic, we accelerated the construction schedule for this project in 2020. Additionally, in 2020, we enhanced the project’s scope to include a more customer-friendly design of Terminal 3, an expanded Delta Sky Club and baggage system upgrades designed to increase the terminals’ operational efficiency going forward. Construction is expected to be completed in 2023.

The project is expected to cost approximately $2.3 billion. A substantial majority of the project costs are being funded through the Regional Airports Improvement Corporation ("RAIC"), a California public benefit corporation, using a revolving credit facility provided by a group of lenders. The credit facility was executed in 2017 and amended in 2020, and we have guaranteed the obligations of the RAIC under the credit facility. The revolving credit facility agreement was amended again in January 2022, increasing the revolver capacity from $800 million to $1.1 billion. Loans made under the credit facility are being repaid with the proceeds from the City’s purchase of completed project assets. Under the lease agreement and subsequent project component approvals by the City's Board of Airport Commissioners, the City has appropriated to date approximately $1.8 billion to purchase completed project assets, representing the maximum allowable reimbursement by the City. Costs incurred in excess of the $1.8 billion maximum will not be reimbursed by the City. We currently expect our net project costs to be approximately $500 million, of which approximately $250 million has been reflected as investing activities in our cash flows statement since the project started in 2017. In 2021, $487 million was spent on this project, with $450 million paid by the credit facility and $37 million paid directly by Delta.

Based on our assessment of the project, we concluded that we do not control the underlying assets being constructed, and therefore, we do not have the project asset or related obligation recorded on our balance sheet.

New York-LaGuardia Airport

As part of the terminal redevelopment project at LaGuardia Airport, we are partnering with the Port Authority to replace Terminals C and D with a new state-of-the-art terminal facility consisting of 37 gates across four concourses connected to a central headhouse. The terminal will feature a new, larger Delta Sky Club, wider concourses, more gate seating and nearly double the amount of concessions space than the existing terminals. The facility will also offer direct access between the parking garage and terminal and improved roadways and drop-off/pick-up areas. The design of the new terminal will integrate sustainable technologies and improvements in energy efficiency. Construction is underway and is being phased to limit passenger inconvenience. Due to an acceleration effort that commenced in 2020, completion is expected by 2025.
In connection with the redevelopment, during 2017, we entered into an amended and restated terminal lease with the Port Authority with a term through 2050. Pursuant to the lease agreement, as amended to date, we will (1) fund (through debt issuance and existing cash) and undertake the design, management and construction of the terminal and certain off-premises supporting facilities, (2) receive a Port Authority contribution of approximately $500 million to facilitate construction of the terminal and other supporting infrastructure, (3) be responsible for all operations and maintenance during the term of the lease and (4) have preferential rights to all gates in the terminal subject to Port Authority requirements with respect to accommodation of designated carriers. We currently expect our net project cost to be approximately $3.5 billion and we bear the risks of project construction, including any potential cost over-runs. Using funding primarily provided by existing financing arrangements, we spent approximately $950 million, which is primarily reflected in investing activities in our cash flows statement, during 2021, bringing the total amount spent on the project to date to approximately $2.5 billion. See Note 6, "Debt," for additional information on the debt related to this redevelopment project, NYTDC Special Facilities Revenue Bonds, Series 2018 and NYTDC Special Facilities Revenue Bonds, Series 2020.

In 2019, we opened Concourse G, the first of four new concourses, housing seven of the 37 new gates. Not only did the new Concourse G provide the first direct impact to the Delta passenger experience, it also represented the first major phasing milestone. The next major milestone will be the opening of the headhouse and Concourse E, which is scheduled for the second quarter of 2022.

Based on our assessment of the project, we concluded that we do not control the underlying assets being constructed. Costs incurred by Delta are accounted for as leasehold improvements. We entered into loan agreements to fund a portion of the construction, which are recorded on our balance sheet as debt with the proceeds reflected as restricted cash.
v3.22.0.1
Employee Benefit Plans
 12 Months Ended
Dec. 31, 2021
Retirement Benefits [Abstract]  
Employee Benefit Plans EMPLOYEE BENEFIT PLANS
We sponsor defined benefit and defined contribution pension plans, healthcare plans and disability and survivorship plans for eligible employees and retirees and their eligible family members.

Defined Benefit Pension Plans. We sponsor defined benefit pension plans for eligible employees and retirees. These plans are closed to new entrants and frozen for future benefit accruals. Our funding obligations for qualified defined benefit plans are governed by the Employee Retirement Income Security Act and any applicable legislation. Under the Pension Protection Act of 2006, we elected alternative funding rules so that the unfunded liability for a frozen defined benefit plan may be amortized over a fixed 17-year period and is calculated using an 8.85% discount rate until the 17-year period expires for all frozen defined benefit plans by the end of 2024. Upon expiration, under recent legislation passed in 2021, any required funding would be amortized over a rolling 15-year period and calculated using a discount rate of no less than 4.75% through 2030. We have no minimum funding requirements for these plans in 2022 and do not plan to make voluntary contributions during 2022.

Defined Contribution Pension Plans. We sponsor several defined contribution plans. These plans generally cover different employee groups and employer contributions vary by plan. The costs associated with our defined contribution pension plans were approximately $875 million, $805 million and $1.0 billion for the years ended December 31, 2021, 2020 and 2019, respectively.

Postretirement Healthcare Plans. We sponsor healthcare plans that provide benefits to eligible retirees and their dependents who are under age 65. We have generally eliminated company-paid post age 65 healthcare coverage, except for (1) subsidies available to a limited group of retirees and their dependents, (2) a group of retirees who retired prior to 1987 and (3) retiree medical accounts which provide a fixed dollar amount to eligible employees who retired under the 2012 voluntary workforce reduction programs or under the 2020 voluntary early retirement and separation programs ("voluntary programs"). Benefits under these plans are funded from current assets and employee contributions.

During 2020, we remeasured our postretirement healthcare obligation to account for the retiree medical accounts provided to eligible participants in our voluntary programs. As a result, we recorded a $1.3 billion special termination benefit charge and increased our postretirement healthcare obligation by $1.3 billion.

Postemployment Plans. We provide certain other welfare benefits to eligible former or inactive employees after employment but before retirement, primarily as part of the disability and survivorship plans. Substantially all employees are eligible for benefits under these plans in the event of death and/or disability.
Benefit Obligations, Fair Value of Plan Assets and Funded Status
Pension BenefitsOther Postretirement and Postemployment Benefits
December 31,December 31,
(in millions)2021202020212020
Benefit obligation at beginning of period$22,626 $21,199 $4,766 $3,379 
Service cost— — 86 96 
Interest cost582 700 117 120 
Actuarial (gain)/loss(851)2,051 23 247 
Benefits paid, including lump sums and annuities(1,279)(1,233)(405)(356)
Participant contributions— — 18 20 
Special termination benefits— — — 1,260 
Settlements(5)(91)— — 
Benefit obligation at end of period(1)
$21,073 $22,626 $4,605 $4,766 
Fair value of plan assets at beginning of period$16,541 $15,845 $496 $607 
Actual gain on plan assets2,732 1,973 57 76 
Employer contributions1,513 47 192 189 
Participant contributions— — 18 20 
Benefits paid, including lump sums and annuities(1,279)(1,233)(406)(396)
Settlements(5)(91)— — 
Fair value of plan assets at end of period$19,502 $16,541 $357 $496 
Funded status at end of period$(1,571)$(6,085)$(4,248)$(4,270)

(1)At the end of each year presented, our accumulated benefit obligations for our pension plans are equal to the benefit obligations shown above.

During 2021, actuarial gains decreased our benefit obligation due to the increase in discount rate, while in 2020 our obligation increased due to the actuarial losses from a decrease in discount rates. These gains and losses are recorded in AOCI and reflected in the table below. Amounts are generally amortized from AOCI over the expected future lifetime of plan participants.

Balance Sheet Position
Pension BenefitsOther Postretirement and Postemployment Benefits
December 31,December 31,
(in millions)2021202020212020
Current liabilities$(9)$(10)$(203)$(143)
Noncurrent liabilities(1,562)(6,075)(4,045)(4,127)
Total liabilities$(1,571)$(6,085)$(4,248)$(4,270)
Net actuarial loss$(7,462)$(9,878)$(831)$(886)
Prior service credit— — 23 29 
Total accumulated other comprehensive loss, pre-tax$(7,462)$(9,878)$(808)$(857)
Net Periodic (Benefit) Cost
Pension BenefitsOther Postretirement and Postemployment Benefits
Year Ended December 31,Year Ended December 31,
(in millions)202120202019202120202019
Service cost$— $— $— $86 $96 $83 
Interest cost582 700 833 117 120 137 
Expected return on plan assets(1,522)(1,373)(1,186)(34)(44)(47)
Amortization of prior service credit— — — (6)(9)(9)
Recognized net actuarial loss354 300 291 55 44 37 
Settlements2 38 5 — — — 
Special termination benefits— — — — 1,260 — 
Net periodic (benefit) cost
$(584)$(335)$(57)$218 $1,467 $201 

Service cost is recorded in salaries and related costs in the income statement. Special termination benefits are recorded in restructuring charges, while all other components are recorded within pension and related benefit/(expense) under non-operating expense.

Assumptions

We used the following actuarial assumptions to determine our benefit obligations and our net periodic benefit cost for the periods presented:
December 31,
Benefit Obligations(1)
20212020
Weighted average discount rate2.97 %2.62 %

Year Ended December 31,
Net Periodic (Benefit) Cost(1)
202120202019
Weighted average discount rate - pension benefit2.65 %3.40 %4.33 %
Weighted average discount rate - other postretirement benefit2.43 %3.47 %4.32 %
Weighted average discount rate - other postemployment benefit2.55 %3.34 %4.32 %
Weighted average expected long-term rate of return on plan assets8.98 %8.97 %8.97 %
Assumed healthcare cost trend rate for the next year(2)
6.25 %6.25 %6.50 %
(1)Future employee compensation levels do not impact our frozen defined benefit pension plans or other postretirement plans and impact only a small portion of our other postemployment obligation.
(2)Healthcare cost trend rate is assumed to decline gradually to 5.00% by 2028 and remain unchanged thereafter.

Expected Long-Term Rate of Return. Our expected long-term rate of return on plan assets is based primarily on plan-specific investment studies using historical market return and volatility data. Modest excess return expectations versus some public market indices are incorporated into the return projections based on the actively managed structure of the investment programs and their records of achieving such returns historically. We also expect to receive a premium for investing in less liquid private markets. We review our rate of return on plan assets assumptions annually. Our annual investment performance for one particular year does not, by itself, significantly influence our evaluation. The investment strategy for our defined benefit pension plan assets is to earn a long-term return that meets or exceeds our annualized return target while taking an acceptable level of risk and maintaining sufficient liquidity to pay current benefits and other cash obligations of the plan. This is achieved by investing in a globally diversified mix of public and private equity, fixed income, real assets, hedge funds and other assets and instruments. Our weighted average expected long-term rate of return on assets for net periodic benefit cost for the year ended December 31, 2021 was 8.98%.

Life Expectancy. Changes in life expectancy may significantly impact our benefit obligations and future net periodic benefit cost. We use the Society of Actuaries ("SOA") published mortality data and other publicly available information to develop our best estimate of life expectancy. The SOA publishes updated mortality tables for U.S. plans and updated improvement scales. Each year we consider updates by the SOA in setting our mortality assumptions for purposes of measuring pension and other postretirement and postemployment benefit obligations.
Benefit Payments

Benefit payments in the table below are based on the same assumptions used to measure the related benefit obligations. Actual benefit payments may vary significantly from these estimates. Benefits earned under our pension plans and certain postemployment benefit plans are expected to be paid from funded benefit plan trusts, while our other postretirement benefits are funded from current assets.

The following table summarizes the benefit payments that are expected to be paid in the years ending December 31:

Expected future benefit payments
(in millions)Pension BenefitsOther Postretirement and Postemployment Benefits
2022$1,290 $420 
20231,280 460 
20241,270 460 
20251,270 460 
20261,260 460 
2027-20316,110 2,160 

Plan Assets

We have adopted and implemented investment policies for our defined benefit pension plans that incorporate strategic asset allocation mixes intended to best meet the plans' long-term obligations, while maintaining an appropriate level of risk and liquidity. These asset portfolios employ a diversified mix of investments, which are reviewed periodically. Active management strategies are utilized where feasible in an effort to realize investment returns in excess of market indices. Derivatives in the plans are primarily used to manage risk and gain asset class exposure while still maintaining liquidity. As part of these strategies, the plans are required to hold cash collateral associated with certain derivatives. Our investment strategies target a mix of 30-50% growth-seeking assets, 25-35% income-generating assets and 30-40% risk-diversifying assets. Risk diversifying assets include hedged mandates implementing long-short, market neutral and relative value strategies that invest primarily in publicly-traded equity, fixed income, foreign currency and commodity securities and are used to improve the impact of active management on the plans.

Benefit Plan Assets Measured at Fair Value on a Recurring Basis

Benefit Plan Assets. Benefit plan assets relate to our defined benefit pension plans and certain of our postemployment benefit plans. These investments are presented net of the related benefit obligation in pension, postretirement and related benefits on the balance sheets. See Note 3, "Fair Value Measurements," for a description of the levels within the fair value hierarchy and associated valuation techniques used to measure fair value. The following table shows our benefit plan assets by asset class.

Benefit plan assets measured at fair value on a recurring basis
December 31, 2021December 31, 2020Valuation Technique
(in millions)Level 1Level 2TotalLevel 1Level 2Total
Cash equivalents$2,390 $2,097 $4,487 $305 $3,359 $3,664 (a)
Equities and equity-related instruments1,034 161 1,195 1,061 59 1,120 (a)
Fixed income and fixed income-related instruments69 979 1,048 — 882 882 (a)(b)
Delta common stock407 — 407 507 — 507 (a)
Real assets— 256 256 — — — (a)
Benefit plan assets$3,900 $3,493 $7,393 $1,873 $4,300 $6,173 
Investments measured at net asset value ("NAV")(1)
12,653 10,427 
Total benefit plan assets$20,046 $16,600 
(1) Investments that were measured at NAV per share (or its equivalent) as a practical expedient have not been classified in the fair value hierarchy.
Cash Equivalents. These investments primarily consist of high-quality, short-term obligations that are a part of institutional money market mutual funds that are valued using current market quotations or an appropriate substitute that reflects current market conditions.

Equities and Equity-Related Instruments. These investments include common stock and equity-related instruments. Common stock is valued at the closing price reported on the active market on which the individual securities are traded. Equity-related instruments include investments in securities traded on exchanges, including listed futures and options, which are valued at the last reported sale prices on the last business day of the year or, if not available, the last reported bid prices. Over-the-counter securities are valued at the bid prices or the average of the bid and ask prices on the last business day of the year from published sources or, if not available, from other sources considered reliable, generally broker quotes.

Fixed Income and Fixed Income-Related Instruments. These investments include corporate bonds, government bonds, collateralized mortgage obligations and other asset-backed securities, and are generally valued at the bid price or the average of the bid and ask price. Prices are based on pricing models, quoted prices of securities with similar characteristics or broker quotes. Fixed income-related instruments include investments in securities traded on exchanges, including listed futures and options, which are valued at the last reported sale prices on the last business day of the year, or if not available, the last reported bid prices. Over-the-counter securities are valued at the bid prices or the average of the bid and ask prices on the last business day of the year from published sources or, if not available, from other sources considered reliable, generally broker quotes.

Delta Common Stock. The Delta common stock investment is managed by an independent fiduciary.

Real Assets. These investments include precious metals and precious metals-related instruments, some of which are valued at the closing price reported on the active market on which the individual instruments are traded, while others are priced based on pricing models, quoted prices of securities with similar characteristics or broker quotes.

The following table summarizes investments measured at fair value based on NAV per share as a practical expedient:

Benefit plan investment assets measured at NAV
December 31, 2021December 31, 2020
(in millions)Fair ValueRedemption FrequencyRedemption Notice PeriodFair ValueRedemption FrequencyRedemption Notice Period
Hedge funds and hedge fund-related strategies(4)
$7,563 (3)
2-180 Days
$5,474 (3)
2-180 Days
Commingled funds, private equity and private equity-related instruments(4)
2,228 (3)
3-45 Days
2,136 (3)
3-30 Days
Fixed income and fixed income-related instruments(4)
877 (3)
65-90 Days
1,118 (3)
15-90 Days
Real assets(4)
773 (2)N/A671 (2)N/A
Other1,212 (1)
2-10 Days
1,028 (1)
2-90 Days
Total investments measured at NAV$12,653 $10,427 
(1)Weekly, semi-monthly, monthly
(2)Semi-annually and annually
(3)Various. Includes funds with weekly, semi-monthly, monthly, quarterly and custom redemption frequencies as well as funds with a redemption window following the anniversary of the initial investment.
(4)Unfunded commitments were $1.0 billion for commingled funds, private equity and private equity-related instruments, $259 million for fixed income and fixed income-related instruments and $386 million for real assets at December 31, 2021.

Hedge Funds and Hedge Fund-Related Strategies. These investments are primarily made through shares of limited partnerships or similar structures for which a liquid secondary market does not exist.

Commingled Funds, Private Equity and Private Equity-Related Instruments. These investments include commingled funds invested in common stock, as well as private equity and private equity-related instruments. Commingled funds are valued based on quoted market prices of the underlying assets owned by the fund. Private equity and private equity-related strategies are typically valued quarterly by the fund managers using valuation models where one or more of the significant inputs into the model cannot be observed and which require the development of assumptions.
Fixed Income and Fixed Income-Related Instruments. These investments include commingled funds invested in debt obligations. Commingled funds are valued based on quoted market prices of the underlying assets owned by the fund. Private fixed income strategies are typically valued monthly or quarterly by the fund managers or third-party valuation agents using valuation models where one or more of significant inputs into the model cannot be observed and which require the development of assumptions.

Real Assets. These investments include real estate, energy, timberland, agriculture and infrastructure. The valuation of real assets requires significant judgment due to the absence of quoted market prices as well as the inherent lack of liquidity and the long-term nature of these assets. Real assets are typically valued quarterly by the fund managers using valuation models where one or more of the significant inputs into the model cannot be observed and which require the development of assumptions.

Other. Primarily includes globally-diversified, risk-managed commingled funds consisting mainly of equity, fixed income and commodity exposures.

On an annual basis we assess the potential for adjustments to the fair value of all investments. These investments valued using NAV as a practical expedient are typically valued on a monthly or quarterly basis by third-party administrators, valuation agents or fund managers with an annual audit performed by an independent third party, but certain of these investments have a lag in the availability of data. This primarily applies to private equity, private equity-related strategies and real assets. We solicit valuation updates from the investment fund managers and use their information and corroborating data from public markets to determine any needed fair value adjustments.

Other

We also sponsor defined benefit pension plans for eligible employees in certain foreign countries. These plans did not have a material impact on our Consolidated Financial Statements in any period presented.

Voluntary Programs

During 2020, in response to the COVID-19 pandemic, we announced the voluntary programs, which primarily applied to eligible U.S. merit, ground and flight attendant and pilot employees. Those employees who elected to participate in the voluntary programs were eligible for separation payments, continued healthcare benefits and certain participants received retiree medical accounts. The election and revocation windows for these programs closed during 2020 with approximately 18,000 employees electing to participate. We recorded $3.4 billion in restructuring charges in our income statement associated with these programs and other employee benefit charges during 2020, including $1.3 billion of special termination benefits (discussed above). The remainder of the restructuring charge primarily relates to separation payments and healthcare benefits. Approximately $720 million was disbursed in cash payments to participants in the voluntary programs during 2020 and approximately $575 million in 2021. An additional approximately $250 million of cash payments were disbursed during 2020 related to unused vacation and other benefits, which were accrued prior to the voluntary programs charge. Accruals related to the voluntary programs are primarily recorded in pension, postretirement and related benefits, other noncurrent liabilities, other accrued liabilities and accrued salaries and related benefits on our balance sheet.

Profit Sharing Program

Our broad-based employee profit sharing program provides that, for each year in which we have an annual pre-tax profit, as defined by the terms of the program, we will pay a specified portion of that profit to employees. In determining the amount of profit sharing, the program defines profit as pre-tax profit adjusted for profit sharing and certain other items.

To recognize the extraordinary efforts of our employees through the pandemic, we will make a special profit-sharing payment to eligible employees in February 2022, based on the adjusted pre-tax profit earned during the second half of 2021.
For the years ended December 31, 2021 and 2019 we recorded profit sharing expense of $108 million and $1.6 billion, respectively. For the year ended December 31, 2020 we recorded no profit sharing expense.
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Commitments and Contingencies
 12 Months Ended
Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies COMMITMENTS AND CONTINGENCIES
Aircraft Purchase Commitments

Our future aircraft purchase commitments totaled approximately $16.2 billion at December 31, 2021:

Aircraft purchase commitments
(in millions)Total
2022$3,700 
20233,040 
20243,290 
20252,880 
20262,340 
Thereafter920 
Total$16,170 

Our future aircraft purchase commitments included the following aircraft at December 31, 2021:

Aircraft purchase commitments by fleet type
Fleet TypePurchase Commitments
A220-1004 
A220-30040 
A321-200neo155 
A330-900neo26 
A350-90020 
B-737-900ER19 
Total264 


Aircraft Orders

During 2021, we agreed with Airbus to add incremental aircraft to our order book by converting options for 55 A321neo aircraft into firm orders and replenishing 25 of our options. We expect to take delivery of our first A321neo in the first half of 2022, with deliveries of these aircraft continuing through 2027. Additionally, we agreed to move up two A350-900 deliveries and one A330-900neo delivery to occur in the second half of 2022.

During 2021, we agreed to acquire 29 B-737-900 aircraft and enter into leases for nine A350-900 aircraft. We began taking delivery of these preowned aircraft in 2021 and deliveries are expected to continue through the first quarter of 2022. Phased entry into service is expected through the summer of 2023.

Contract Carrier Agreements

We have contract carrier agreements with regional carriers expiring from 2022 to 2031. These agreements are structured as either capacity purchase or revenue proration agreements.

Capacity Purchase Agreements. Our regional carriers primarily operate for us under capacity purchase agreements. Under these agreements, the regional carriers operate some or all of their aircraft using our flight designator codes, and we control the scheduling, pricing, reservations, ticketing and seat inventories of those aircraft and retain the revenues associated with those flights. We pay those airlines an amount, as defined in the applicable agreement, which is based on a determination of their cost of operating those flights and other factors intended to approximate market rates for those services.
The following table shows our minimum obligations under our existing capacity purchase agreements with third-party regional carriers. The obligations set forth in the table contemplate minimum levels of flying by the regional carriers under the respective agreements and also reflect assumptions regarding certain costs associated with the minimum levels of flying such as the cost of fuel, labor, maintenance, insurance, catering, property tax and landing fees. Accordingly, our actual payments under these agreements could differ materially from the minimum fixed obligations set forth in the table below.

Contract carrier minimum obligations
(in millions)
Amount (1)
2022$1,513 
20231,515 
20241,488 
20251,521 
20261,554 
Thereafter4,141 
Total$11,732 

(1)These amounts exclude contract carrier payments accounted for as leases of aircraft, which are described in Note 7, "Leases."

Revenue Proration Agreement. As of December 31, 2021, a portion of our contract carrier arrangement with SkyWest Airlines, Inc. was structured as a revenue proration agreement. This revenue proration agreement establishes a fixed dollar or percentage division of revenues for tickets sold to passengers traveling on connecting flight itineraries.

Legal Contingencies

We are involved in various legal proceedings related to employment practices, environmental issues, antitrust matters and other matters concerning our business. We record liabilities for losses from legal proceedings when we determine that it is probable that the outcome in a legal proceeding will be unfavorable and the amount of loss can be reasonably estimated. Although the outcome of the legal proceedings in which we are involved cannot be predicted with certainty, we believe that the resolution of current matters will not have a material adverse effect on our Consolidated Financial Statements.

Credit Card Processing Agreements

Our VISA/MasterCard and American Express credit card processing agreements provide that no cash reserve ("Reserve") is required, and no withholding of payment related to receivables collected will occur, except in certain circumstances, including when we do not maintain a required level of liquidity as outlined in the merchant processing agreements. In circumstances in which the credit card processor can establish a Reserve or withhold payments, the amount of the Reserve or payments that may be withheld would be equal to the potential liability of the credit card processor for tickets purchased with VISA/MasterCard or American Express credit cards, as applicable, that had not yet been used for travel. We did not have a Reserve or an amount withheld as of December 31, 2021 or 2020.

Other Contingencies

General Indemnifications

We are the lessee under many commercial real estate leases. It is common in these transactions for us, as the lessee, to agree to indemnify the lessor and the lessor's related parties for tort, environmental and other liabilities that arise out of or relate to our use or occupancy of the leased premises. This type of indemnity would typically make us responsible to indemnified parties for liabilities arising out of the conduct of, among others, contractors, licensees and invitees at, or in connection with, the use or occupancy of the leased premises. This indemnity often extends to related liabilities arising from the negligence of the indemnified parties, but usually excludes any liabilities caused by either their sole or gross negligence or their willful misconduct.

Our aircraft and other equipment lease and financing agreements typically contain provisions requiring us, as the lessee or obligor, to indemnify the other parties to those agreements, including certain of those parties' related persons, against virtually any liabilities that might arise from the use or operation of the aircraft or other equipment.
We believe that our insurance would cover most of our exposure to liabilities and related indemnities associated with the commercial real estate leases and aircraft and other equipment lease and financing agreements described above. While our insurance does not typically cover environmental liabilities, we have insurance policies in place as required by applicable environmental laws.

Some of our aircraft and other financing transactions include provisions that require us to make payments to preserve an expected economic return to the lenders if that economic return is diminished due to specified changes in law or regulations. In some of these financing transactions, we also bear the risk of changes in tax laws that would subject payments to non-U.S. lenders to withholding taxes.

We cannot reasonably estimate our potential future payments under the indemnities and related provisions described above because we cannot predict (1) when and under what circumstances these provisions may be triggered and (2) the amount that would be payable if the provisions were triggered because the amounts would be based on facts and circumstances existing at such time.

Employees Under Collective Bargaining Agreements

As of December 31, 2021, we had approximately 83,000 full-time equivalent employees, 20% of whom were represented by unions.

Domestic airline employees represented by collective bargaining agreements by group
Employee GroupApproximate Number of Employees RepresentedUnionDate on which Collective Bargaining Agreement Becomes Amendable
Delta Pilots13,180 ALPADecember 31, 2019
Delta Flight Superintendents (Dispatchers)
380 PAFCANovember 1, 2024
Endeavor Air Pilots1,900 ALPAJanuary 1, 2029
Endeavor Air Flight Attendants
1,480 AFAMarch 31, 2025

In addition to the domestic airline employee groups discussed above, approximately 180 refinery employees of our wholly owned subsidiary Monroe are represented by the United Steel Workers under an agreement that expires on February 28, 2022. This agreement is governed by the National Labor Relations Act, which generally allows either party to engage in self-help upon the expiration of the agreement. Certain of our employees outside the U.S. are represented by unions, work councils or other local representative groups.

Other

We have certain contracts for goods and services that require us to pay a penalty, acquire inventory specific to us or purchase contract-specific equipment, as defined by each respective contract, if we terminate the contract without cause prior to its expiration date. Because these obligations are contingent on our termination of the contract without cause prior to its expiration date, no obligation would exist unless such a termination occurs.
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Income Taxes
 12 Months Ended
Dec. 31, 2021
Income Tax Disclosure [Abstract]  
Income Taxes INCOME TAXES
Income Tax Provision

Components of income tax (provision) benefit
Year Ended December 31,
(in millions)202120202019
Current tax (provision) benefit:
Federal$— $94 $94 
State and local(1)3 (39)
International(3)(5)(13)
Deferred tax (provision) benefit:
Federal(130)2,766 (1,343)
State and local16 344 (130)
Income tax (provision) benefit$(118)$3,202 $(1,431)

The following table presents the principal reasons for the difference between the effective tax rate and the U.S. federal statutory income tax rate:

Reconciliation of statutory federal income tax rate to the effective income tax rate
Year Ended December 31,
202120202019
U.S. federal statutory income tax rate21.0 %21.0 %21.0 %
State taxes, net of federal benefit(4.4)1.9 2.3 
Permanent differences4.9 (0.6)(0.3)
Valuation allowance9.1 (2.6)0.7 
Other(0.8)0.8 (0.6)
Effective income tax rate29.8 %20.5 %23.1 %
Deferred Taxes

Deferred income taxes reflect the net tax effect of temporary differences between the carrying amounts of assets and liabilities for financial reporting and income tax purposes.

Significant components of deferred income tax assets and liabilities
December 31,
(in millions)20212020
Deferred tax assets:
Net operating loss carryforwards$1,301 $1,495 
Capital loss carryforward480 483 
Pension, postretirement and other benefits2,089 2,956 
Investments314 — 
Deferred revenue2,288 1,929 
Lease liabilities2,452 2,185 
Other494 479 
Valuation allowance(833)(460)
Total deferred tax assets$8,585 $9,067 
Deferred tax liabilities:
Depreciation$4,463 $4,507 
Operating lease assets1,676 1,324 
Intangible assets1,097 1,076 
Other55 172 
Total deferred tax liabilities$7,291 $7,079 
Net deferred tax assets
$1,294 $1,988 

As of December 31, 2021, we had approximately $4.8 billion of U.S. federal pre-tax net operating loss carryforwards, of which $1.1 billion was generated prior to 2018 and will not begin to expire until 2029. Under current tax law, the remaining amount has no expiration.

Valuation Allowance

We periodically assess whether it is more likely than not that we will generate sufficient taxable income to realize our deferred income tax assets. We establish valuation allowances if it is more likely than not that we will be unable to realize our deferred income tax assets. In making this determination, we consider available positive and negative evidence and make certain assumptions. We consider, among other things, projected future taxable income, scheduled reversals of deferred tax liabilities, the overall business environment, our historical financial results and tax planning strategies.

At December 31, 2021 our net deferred tax asset balance was $1.3 billion, including an $833 million valuation allowance primarily related to capital loss carryforwards and certain state net operating losses. Although we have recent cumulative losses, we have a history of significant earnings prior to the onset of the COVID-19 pandemic. While we expect to return to sustained profitability as the effects of the pandemic subside and to generate sufficient taxable income to utilize our federal net operating loss carryforwards before any expire, the generation of future taxable income is dependent on many factors, including those which are out of our control, such as the demand for air travel and overall health of the economy. As such, there are no guarantees that a valuation allowance will not be required against some or all of our deferred tax assets in future periods.

Our federal net operating loss carryforwards generated before 2018 do not begin to expire until 2029. Under current tax law, federal net operating losses generated after 2017 do not expire. Therefore, we have not recorded a valuation allowance on our deferred tax assets other than the capital loss carryforwards and certain state net operating losses that have short expiration periods.
The following table presents the balance of our valuation allowance on our deferred income tax assets and the associated activity:

Valuation allowance activity
(in millions)20212020
Balance at January 1$460 $58 
Tax provision26 402 
Equity investment activity347 — 
Balance at December 31$833 $460 

Other

The amount of, and changes to, our uncertain tax positions were not material in any of the years presented. We are currently under audit by the IRS for the 2021 and 2020 tax years.
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Equity and Equity Compensation
 12 Months Ended
Dec. 31, 2021
Equity [Abstract]  
Equity and Equity Compensation EQUITY AND EQUITY COMPENSATION
Equity

We are authorized to issue 2.0 billion shares of capital stock, of which up to 1.5 billion may be shares of common stock, par value $0.0001 per share, and up to 500 million may be shares of preferred stock.

Preferred Stock. We may issue preferred stock in one or more series. The Board of Directors is authorized (1) to fix the descriptions, powers (including voting powers), preferences, rights, qualifications, limitations and restrictions with respect to any series of preferred stock and (2) to specify the number of shares of any series of preferred stock. We have not issued any preferred stock.

Treasury Stock. We generally withhold shares of Delta common stock to cover employees' portion of required tax withholdings when employee equity awards are issued or vest. These shares are valued at cost, which equals the market price of the common stock on the date of issuance or vesting. The weighted average cost per share held in treasury was $28.87 and $28.23 as of December 31, 2021 and 2020, respectively.

Warrants. See Note 6, "Debt," for further discussion of the warrants issued during 2020 and 2021 in connection with the CARES Act payroll support program and extensions to acquire more than 11.1 million shares of Delta common stock.

Equity Compensation

Our broad-based equity and cash compensation plan provides for grants of restricted stock, stock options, performance awards, including cash incentive awards and other equity-based awards (the "Plan"). Shares of common stock issued under the Plan may be made available from authorized, but unissued, common stock or common stock we acquire. If any shares of our common stock are covered by an award that expires, is canceled, forfeited or otherwise terminates without delivery of shares (including shares surrendered or withheld for payment of taxes related to an award), such shares will again be available for issuance under the Plan except for (1) any shares tendered in payment of an option, (2) shares withheld to satisfy any tax withholding obligation with respect to the exercise of an option or stock appreciation right ("SAR") or (3) shares covered by a stock-settled SAR or other awards that were not issued upon the settlement of the award. The Plan authorizes the issuance of up to 163 million shares of common stock. As of December 31, 2021, there were 19 million shares available for future grants.

We make long-term incentive awards annually to eligible employees under the Plan. Generally, awards vest over time, subject to the employee's continued employment. Equity compensation expense, including awards payable in common stock or cash, is recognized in salaries and related costs over the employee's requisite service period (generally, the vesting period of the award) and totaled $149 million, $119 million and $161 million for the years ended December 31, 2021, 2020 and 2019, respectively. We record expense on a straight-line basis for awards with installment vesting. As of December 31, 2021, unrecognized costs related to unvested shares and stock options totaled $77 million. We expect substantially all unvested awards to vest and recognize forfeitures as they occur.
Restricted Stock. Restricted stock is common stock that may not be sold or otherwise transferred for a period of time and is subject to forfeiture in certain circumstances. The fair value of restricted stock awards is based on the closing price of the common stock on the grant date. As of December 31, 2021, there were 2.9 million unvested restricted stock awards. Restricted stock activity under the plan for the years ended December 31, 2021, 2020 and 2019 is as follows:

Restricted Stock Award Activity
202120202019
Restricted Stock AwardsWeighted-Average Grant PriceRestricted Stock AwardsWeighted-Average Grant PriceRestricted Stock AwardsWeighted-Average Grant Price
(in millions, except wtd avg grant price)
Outstanding at January 12.2 $54.06 2.6 $51.28 2.4 $49.24 
Granted2.3 39.93 1.4 56.84 1.8 51.75 
Vested(1.4)51.15 (1.6)51.95 (1.5)48.65 
Forfeited(0.2)44.01 (0.2)56.11 (0.1)50.78 
Outstanding at December 312.9 $45.66 2.2 $54.06 2.6 $51.28 

Stock Options. Stock options are granted with an exercise price equal to the closing price of Delta common stock on the grant date and generally have a 10-year term. We determine the fair value of stock options at the grant date using an option pricing model. As of December 31, 2021, there were 6.2 million outstanding stock option awards with a weighted average exercise price of $50.41 of which 3.3 million were exercisable. Stock option activity under the plan for the years ended December 31, 2021, 2020 and 2019 is as follows:

Stock Option Activity
202120202019
Stock OptionsWeighted-Average Exercise PriceStock OptionsWeighted-Average Exercise PriceStock OptionsWeighted-Average Exercise Price
(in millions, except wtd avg grant price)
Outstanding at January 15.4$52.37 3.9$49.57 2.5 $48.99 
Granted1.0 39.78 1.6 58.89 1.4 50.52 
Exercised — — (0.1)44.05 — — 
Forfeited(0.2)49.61 — — — — 
Outstanding at December 316.2 $50.41 5.4 $52.37 3.9 $49.57 

Performance Awards. Performance awards are dollar-denominated long-term incentive opportunities which, for grants prior to 2021, are payable in Delta stock to executive officers on the payment date and in cash to all other participants. Beginning with the 2021 grants, performance awards are payable in cash to all participants. Potential performance award payments range from 0%-200% of a target level and are contingent upon our achieving certain financial and operational goals over a three-year performance period. Based on the closing stock price at each respective year end and contingent on achieving the specified performance conditions, the maximum shares that could be issued were 1.5 million, 2.2 million and 1.4 million for the years ended December 31, 2021, 2020 and 2019, respectively.
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Accumulated Other Comprehensive Loss
 12 Months Ended
Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Accumulated Other Comprehensive Loss ACCUMULATED OTHER COMPREHENSIVE LOSS
Components of accumulated other comprehensive loss
(in millions)
Pension and Other Benefits Liabilities(2)
Other(3)
Total
Balance at January 1, 2019 (net of tax effect of $1,492)
$(7,925)$100 $(7,825)
Changes in value (net of tax effect of $133)
(422)7 (415)
Reclassifications into earnings (net of tax effect of $76)(1)
252 (1)251 
Balance at December 31, 2019 (net of tax effect of $1,549)
(8,095)106 (7,989)
Changes in value (net of tax effect of $384)
(1,269)17 (1,252)
Reclassifications into earnings (net of tax effect of $169)(1)
286 (83)203 
Balance at December 31, 2020 (net of tax effect $1,764)
(9,078)40 (9,038)
Changes in value (net of tax effect of $484)
1,593 — 1,593 
Reclassifications into earnings (net of tax effect of $96)(1)
315 — 315 
Balance at December 31, 2021 (net of tax effect of $1,184)
$(7,170)$40 $(7,130)
(1)Amounts reclassified from AOCI for pension and other benefits liabilities are recorded in pension and related benefit/(expense) in non-operating expense in the income statement.
(2)Includes approximately $760 million of deferred income tax expense as a result of tax law changes and prior valuation allowance releases through continuing operations, that will not be recognized in net income until pension and other benefit obligations are fully extinguished.
(3)In 2020, all remaining foreign currency hedges expired, and we recognized an $83 million tax benefit which was released from AOCI.
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Segments
 12 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]  
Segments SEGMENTS
Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker and is used in resource allocation and performance assessments. Our chief operating decision maker is considered to be our executive leadership team. Our executive leadership team regularly reviews discrete information for our two operating segments, which are determined by the products and services provided: our airline segment and our refinery segment.
Airline Segment

Our airline segment is managed as a single business unit that provides scheduled air transportation for passengers and cargo throughout the U.S. and around the world and includes our loyalty program, as well as other ancillary airline services. This allows us to benefit from an integrated revenue pricing and route network. Our flight equipment forms one fleet, which is deployed through a single route scheduling system. When making resource allocation decisions, our chief operating decision maker evaluates flight profitability data, which considers fleet type and route economics, but gives no weight to the financial impact of the resource allocation decision on a geographic region or mainline/regional carrier basis. Our objective in making resource allocation decisions is to optimize our consolidated financial results.

Refinery Segment

Our Monroe subsidiary operates the Trainer oil refinery and related assets located near Philadelphia, Pennsylvania, as part of our strategy to mitigate the cost of the refining margin reflected in the price of jet fuel. Monroe's operations include pipelines and terminal assets that allow the refinery to supply jet fuel to our airline operations throughout the Northeastern U.S., including our New York hubs at LaGuardia and JFK.

Our refinery segment operates for the benefit of the airline segment by providing jet fuel to the airline segment from its own production and through jet fuel obtained through agreements with third parties. The refinery's production consists of jet fuel, as well as non-jet fuel products. We use several counterparties to exchange the non-jet fuel products produced by the refinery for jet fuel consumed in our airline operations. The gross fair value of the products exchanged under these agreements during the years ended December 31, 2021, 2020 and 2019 was $2.3 billion, $1.5 billion and $4.0 billion, respectively. The decline in exchange transactions compared to the year ended December 31, 2019 is primarily due to the decrease in demand for jet fuel from our airline operations as a result of the economic conditions caused by the COVID-19 pandemic.

Segment Reporting

Segment results are prepared based on our internal accounting methods described below, with reconciliations to consolidated amounts in accordance with GAAP. Our segments are not designed to measure operating income or loss directly related to the products and services included in each segment on a stand-alone basis.
Financial information by segment
(in millions)AirlineRefineryIntersegment Sales/OtherConsolidated
Year Ended December 31, 2021
Operating revenue:$26,670 $6,054 $29,899 
Sales to airline segment$(492)
(1)
Exchanged products(2,293)
(2)
Sales of refined products(40)
(3)
Operating income (loss)(4)
1,888 (2)1,886 
Interest expense, net1,272 7 1,279 
Depreciation and amortization1,998 95 (95)
(4)
1,998 
Restructuring charges(19)— (19)
Total assets, end of period70,360 2,099 72,459 
Net fair value obligations, end of period(5)
— (497)(497)
Capital expenditures3,188 59 3,247 
Year Ended December 31, 2020
Operating revenue:$15,945 $3,143 $17,095 
Sales to airline segment$(214)
(1)
Exchanged products(1,472)
(2)
Sales of refined products(307)
(3)
Operating loss(4)
(12,253)(216)(12,469)
Interest expense, net928 1 929 
Depreciation and amortization2,312 99 (99)
(4)
2,312 
Restructuring charges8,219 — 8,219 
Total assets, end of period70,548 1,448 71,996 
Net fair value obligations, end of period(5)
— (156)(156)
Capital expenditures1,879 20 1,899 
Year Ended December 31, 2019
Operating revenue:$46,910 $5,558 $47,007 
Sales to airline segment$(1,103)
(1)
Exchanged products(3,963)
(2)
Sales of refined products(395)
(3)
Operating income(4)
6,542 76 6,618 
Interest expense (income), net327 (26)301 
Depreciation and amortization2,581 99 (99)
(4)
2,581 
Total assets, end of period62,793 1,739 64,532 
Net fair value obligations, end of period(5)
— (4)(4)
Capital expenditures4,880 56 4,936 

(1)Represents transfers, valued on a market price basis, from the refinery to the airline segment for use in airline operations. We determine market price by reference to the market index for the primary delivery location, which is New York Harbor, for jet fuel from the refinery.
(2)Represents value of products delivered under our exchange agreements, as discussed above, determined on a market price basis.
(3)These sales were at or near cost; accordingly, the margin on these sales is de minimis.
(4)Refinery segment operating results, including depreciation and amortization, are included within aircraft fuel and related taxes in our income statement.
(5)The fair values of these obligations, which are related to renewable fuel compliance costs, are based on quoted market prices and other observable information and are classified as Level 2 in the fair value hierarchy. At December 31, 2021 we had a gross fair value obligation of $593 million recorded in current liabilities on the balance sheet and related assets of $96 million. Our obligation as of December 31, 2021 was calculated using the EPA's proposed Renewable Fuel Standard ("RFS") volume requirements for 2020 and 2021, which were issued in December 2021. The EPA has not finalized the compliance deadlines to retire our obligations for 2020 and 2021, but we expect those deadlines to be within one year of the effective date of the new RFS volume requirements. At December 31, 2020 we had a gross fair value obligation of $172 million and related assets of $16 million. At December 31, 2019 we had a gross fair value obligation of $58 million and related assets of $54 million. We expect to use the assets in settling a portion of our obligations.
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Restructuring
 12 Months Ended
Dec. 31, 2021
Restructuring and Related Activities [Abstract]  
Restructuring RESTRUCTURING
As a result of the unprecedented, widespread and persistent impact of the COVID-19 pandemic, demand for travel declined at a rapid pace in the March 2020 quarter and remained depressed throughout 2020, which had an unprecedented and materially adverse impact on our results of operations and financial position. Although demand improved throughout 2021, system-wide demand remained below pre-pandemic levels. During 2020, we implemented enhanced measures focusing on the safety of our customers and employees, while at the same time seeking to mitigate the impact on our financial position and operations and to position our business for recovery through actions including fleet retirements, offering voluntary retirement and separation programs and other decisions. These actions resulted in significant restructuring charges during 2020 which are summarized as follows:

Restructuring charges by category
Year Ended
(in millions)December 31, 2020
Fleet Retirements$4,409 
Voluntary Programs and Other Employee Benefit Charges3,409 
Receivables and Other401 
Total Restructuring Charges$8,219 

During 2021, we recorded $19 million of net adjustments to decrease certain of these restructuring charges, representing changes in our estimates.

Fleet Retirements. As a result of the COVID-19 pandemic and our response, we made decisions to remove certain aircraft from active service and to early retire certain fleets. The table below summarizes the number of leased and owned aircraft being retired early, though we remain flexible and may decide to fly certain aircraft beyond their planned retirement date, to the extent supported by demand.

Fleet retirement by aircraft type
Fleet TypeNumber of AircraftPlanned Retirement During the Quarter EndedImpairment-Related Charge (in millions)
77718 December 2020$1,440 
767-300ER56 December 20251,084 
71791 December 2025950 
MD-9026 June 2020335 
CRJ-200 (1)
125 December 2023320 
737-70010 September 2020223 
A32010 June 202057 
MD-88 (2)
47 June 2020— 
Total383 $4,409 
(1)Certain of the CRJ-200 aircraft scheduled to be retired by the December 2023 quarter are operated for us by SkyWest Airlines under a revenue proration agreement.
(2)During the March 2020 quarter, we recorded a $22 million charge related to accelerating the planned retirement of the MD-88 fleet from December 2020 to June 2020. However, this amount was recorded in depreciation and amortization, rather than in restructuring charges, as it would have been incurred during 2020 prior to the onset of the COVID-19 pandemic.

These impairment and other related charges were recorded in restructuring charges in our income statement. These charges were calculated using Level 3 fair value inputs based primarily upon recent market transactions and third-party bids, which were corroborated with published pricing guides and our assessment of existing market conditions based on industry knowledge. Following the impairment charges, the aggregate net book value of these aircraft as of December 31, 2021 and December 31, 2020 was approximately $340 million and $500 million, respectively, with the reduction in 2021 primarily due to aircraft sales.
Voluntary Programs and Other Employee Benefit Charges. During 2020, in response to the COVID-19 pandemic, we announced the voluntary programs, which primarily applied to eligible U.S. merit, ground and flight attendant and pilot employees. We recorded $3.4 billion in restructuring charges in our income statement associated with these programs and other employee benefit charges during 2020, including $1.3 billion of special termination benefits. See Note 9, "Employee Benefit Plans," for more information on these voluntary programs.Receivables and Other. Based on our assessment of collectability, during the year ended December 31, 2020, we recorded approximately $100 million of reserves against outstanding receivables from LATAM, Grupo Aeroméxico, GOL, Virgin Atlantic and others.
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Earnings /(Loss) Per Share
 12 Months Ended
Dec. 31, 2021
Earnings Per Share [Abstract]  
Earnings /(Loss) Per Share (LOSS) PER SHARE
We calculate basic earnings/(loss) per share and diluted (loss) per share by dividing net income/(loss) by the weighted average number of common shares outstanding, excluding restricted shares. We calculate diluted earnings per share by dividing net income by the weighted average number of common shares outstanding plus the dilutive effect of outstanding share-based awards, including stock options, restricted stock awards and warrants. Antidilutive common stock equivalents excluded from the diluted earnings/(loss) per share calculation are not material. The following table shows our computation:

Basic and diluted earnings/(loss) per share
Year Ended December 31,
(in millions, except per share data)202120202019
Net income/(loss)$280 $(12,385)$4,767 
Basic weighted average shares outstanding636 636 651 
Dilutive effect of share-based awards5 — 2 
Diluted weighted average shares outstanding641 636 653 
Basic earnings/(loss) per share$0.44 $(19.49)$7.32 
Diluted earnings/(loss) per share$0.44 $(19.49)$7.30 
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Summary of Significant Accounting Policies (Policies)
 12 Months Ended
Dec. 31, 2021
Accounting Policies [Abstract]  
Basis of Presentation
Basis of Presentation

Delta Air Lines, Inc., a Delaware corporation, provides scheduled air transportation for passengers and cargo throughout the United States ("U.S.") and around the world. Our Consolidated Financial Statements include the accounts of Delta Air Lines, Inc. and our consolidated subsidiaries and have been prepared in accordance with accounting principles generally accepted in the U.S. ("GAAP"). We are the primary beneficiary of, and have a controlling financial interest in, certain immaterial entities in which we have voting rights of 50% or less, which we consolidate in our financial results.

We have marketing alliances with other airlines to enhance our access to domestic and international markets. These arrangements may include codesharing, reciprocal loyalty program benefits, shared or reciprocal access to passenger lounges, joint promotions, common use of airport gates and ticket counters, ticket office co-location and other marketing agreements. We have received antitrust immunity for certain marketing arrangements, which enables us to offer a more integrated route network and develop common sales, marketing and discount programs for customers. Some of our marketing arrangements provide for the sharing of revenues and expenses. Revenues and expenses associated with collaborative arrangements are presented on a gross basis in the applicable line items on our Consolidated Statements of Operations ("income statement").

We have reclassified certain prior period amounts to conform to the current period presentation. Unless otherwise noted, all amounts disclosed are stated before consideration of income taxes.
Regional Carrier Expense
Regional Carrier Expense

Until 2021, we allocated certain costs (such as landing fees and other rents, salaries and related costs and contracted services) to regional carrier expense in our income statement based on relevant statistics (such as passenger counts). Beginning in 2021 we ceased performing this allocation and have reclassified the costs presented in prior periods to align with this presentation. This reclassification better reflects the nature of, and how management views, these regional carrier related expenses. This allocation was approximately $900 million in 2020 and $1.4 billion in 2019. The amounts in regional carrier expense under the current presentation represent the accrual of payments to our regional carriers under capacity purchase agreements, maintenance costs related to our regional fleet and the expenses of our wholly owned regional subsidiary, Endeavor Air, Inc.
Use of Estimates
Use of Estimates

We are required to make estimates and assumptions when preparing our Consolidated Financial Statements in accordance with GAAP. These estimates and assumptions affect the amounts reported in our Consolidated Financial Statements and the accompanying notes. Actual results could differ materially from those estimates.
Recent Accounting Standards Recent Accounting StandardsGovernment Assistance. In 2021, the Financial Accounting Standards Board issued Accounting Standards Update ("ASU") No. 2021-10, "Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance." This ASU will require certain disclosures about the significant terms and conditions of material government assistance agreements in order to provide more consistent information to users of the financial statements. This standard is effective for annual reporting periods beginning after December 15, 2021, and early adoption is permitted. We determined that our material government assistance agreements are the payroll support program agreements under the Coronavirus Aid, Relief and Economic Security Act ("CARES Act") and the program extensions, and we adopted the new standard in 2021. See Note 6, "Debt," where we reflect the requirements of this new standard as it relates to our payroll support program disclosures.
Cash and Cash Equivalents Short-term, highly liquid investments with maturities of three months or less when purchased are classified as cash and cash equivalents.
Short-Term Investments Investments with maturities of greater than three months, but not in excess of one year, when purchased are classified as short-term investments. Investments with maturities beyond one year when purchased may be classified as short-term investments if they are expected to be available to support our short-term liquidity needs. Our short-term investments are classified as fair value investments and gains and losses are recorded in non-operating expense
Inventories
Inventories

Fuel. As part of our strategy to mitigate the cost of the refining margin reflected in the price of jet fuel, our wholly owned subsidiary, Monroe Energy, LLC ("Monroe"), operates the Trainer oil refinery. Refined products (finished goods) and feedstock and blendstock inventories (work-in-process) are both carried at the lower of cost and net realizable value. We use jet fuel in our airline operations that is produced by the refinery and procured through the exchange with third parties of gasoline, diesel and other refined products ("non-jet fuel products") the refinery produces. Cost is determined using the first-in, first-out method. Costs include the raw material consumed plus direct manufacturing costs (such as labor, utilities and supplies) as incurred and an applicable portion of manufacturing overhead.

Expendables Parts and Supplies. Inventories of expendable parts related to flight equipment, which cannot be economically repaired, reconditioned or reused after removal from the aircraft, are carried at moving average cost and charged to aircraft maintenance materials and outside repairs as consumed. An allowance for obsolescence is provided over the remaining useful life of the related fleet. We also provide allowances for parts identified as excess or obsolete to reduce the carrying costs to the lower of cost or net realizable value. These parts are estimated to have residual value of 5% of the original cost.
Accounting for Refinery Related Buy/Sell Agreements
Accounting for Refinery Related Buy/Sell Agreements

To the extent that we receive jet fuel for non-jet fuel products exchanged under buy/sell agreements, we account for these transactions as nonmonetary exchanges. We have recorded these nonmonetary exchanges at the carrying amount of the non-jet fuel products transferred within aircraft fuel and related taxes on the income statement.
Derivatives DerivativesChanges in fuel prices, interest rates and foreign currency exchange rates impact our results of operations. In an effort to manage our exposure to these risks, we may enter into derivative contracts and adjust our derivative portfolio as market conditions change. Our derivative contracts are recognized at fair value on our balance sheets and have net balances of $17 million and $1 million at December 31, 2021 and 2020, respectively.
Property and Equipment, net
Long-Lived Assets

Our long-lived lived assets, including flight equipment, which consists of aircraft and associated engines and parts, operating lease right-of-use ("ROU") assets and other long-lived assets, are recorded in property and equipment, net and operating lease right-of-use assets on our balance sheets. See Note 7, "Leases," for further information regarding our leases. The following table summarizes our property and equipment:

Property and equipment by classification
December 31,
(in millions, except for estimated useful life)Estimated Useful Life20212020
Flight equipment
20-34 years
$33,368 $31,572 
Ground property and equipment
3-40 years
7,758 6,387 
Information technology-related assets
3-15 years
3,389 3,403 
Flight and ground equipment under finance leasesShorter of lease term or estimated useful life2,052 1,795 
Advance payments for equipment853 883 
Less: accumulated depreciation and amortization(1)
(18,671)(17,511)
Total property and equipment, net$28,749 $26,529 
(1)Includes accumulated amortization for flight and ground equipment under finance leases in the amount of $456 million and $793 million at December 31, 2021 and 2020, respectively.
We record property and equipment at cost and depreciate or amortize these assets on a straight-line basis to their estimated residual values over their estimated useful lives. The estimated useful life for leasehold improvements is the shorter of lease term or estimated useful life.We capitalize certain internal and external costs incurred to develop and implement software and amortize those costs over an estimated useful life of three to ten years.Our tangible assets consist primarily of flight equipment, which is mobile across geographic markets. Accordingly, assets are not allocated to specific geographic regions.
Impairment of Long-Lived Assets We review flight equipment, ROU assets and other long-lived assets used in operations for impairment losses when events and circumstances indicate the assets may be impaired. Factors which could be indicators of impairment include, but are not limited to (1) a decision to permanently remove flight equipment or other long-lived assets from operations, (2) significant changes in the estimated useful life, (3) significant changes in projected cash flows, (4) permanent and significant declines in fleet fair values and (5) changes to the regulatory environment. For long-lived assets held for sale, we discontinue depreciation and record impairment losses when the carrying amount of these assets is greater than the fair value less the cost to sell. To determine whether impairments exist for aircraft used in operations, we group assets at the fleet type level or at the contract level for aircraft operated by third-party regional carriers (i.e., the lowest level for which there are identifiable cash flows) and then estimate future cash flows based on projections of capacity, passenger mile yield, fuel and labor costs and other relevant factors. If an asset group is impaired, the impairment loss recognized is the amount by which the asset group's carrying amount exceeds its estimated fair value. We estimate aircraft fair values using published sources, appraisals and bids received from third parties, as available. Due to the impacts of the COVID-19 pandemic, we evaluated our fleet during 2020 and determined that only the fleet types discussed in Note 15, "Restructuring," were impaired, as the future cash flows from the operation of other fleet types through the respective retirement dates exceeded the carrying value. Due to the recovery in demand that we have experienced throughout 2021, we decided not to retire any additional aircraft and returned to service a majority of the aircraft that were temporarily parked in 2020. We recorded no further impairments during 2021. As we gained updated information during the year, we updated estimates to the 2020 fleet-related impairment charges and recorded adjustments of $19 million to certain of the restructuring charges during 2021.
Income Taxes
Income Taxes

We account for deferred income taxes under the liability method. We recognize deferred tax assets and liabilities based on the tax effects of temporary differences between the financial statement and tax basis of assets and liabilities, as measured by current enacted tax rates. Deferred tax assets and liabilities are net by jurisdiction and are recorded as noncurrent on the balance sheet.

We have elected to recognize earnings of foreign affiliates that are determined to be global intangible low tax income in the period it arises and do not recognize deferred taxes for basis differences that may reverse in future years.

A valuation allowance is recorded to reduce deferred tax assets when necessary. We periodically assess whether it is more likely than not that we will generate sufficient taxable income to realize our deferred income tax assets. We establish valuation allowances if it is more likely than not that we will be unable to realize our deferred income tax assets. In making this determination, we consider available positive and negative evidence and make certain assumptions. We consider, among other things, projected future taxable income, scheduled reversals of deferred tax liabilities, the overall business environment, our historical financial results and tax planning strategies. See Note 11, "Income Taxes," for further information on our deferred income taxes.
Fuel Card Obligation Fuel Card ObligationWe have a purchasing card with American Express for the purpose of buying jet fuel and crude oil. The card carried a maximum credit limit of $1.1 billion as of December 31, 2021 and must be paid monthly.
Retirement of Repurchased Shares
Retirement of Repurchased Shares

We immediately retire shares repurchased pursuant to any share repurchase program. We allocate the share purchase price in excess of par value between additional paid-in capital and retained earnings.
Manufacturers' Credits
Manufacturers' Credits

We periodically receive credits in connection with the acquisition of aircraft and engines. These credits are deferred until the aircraft and engines are delivered, and then applied as a reduction to the cost of the related equipment.
Maintenance Costs
Maintenance Costs

We record maintenance costs related to our mainline and regional fleets in aircraft maintenance materials and outside repairs and regional carrier expense, respectively. Maintenance costs are expensed as incurred, except for costs incurred under power-by-the-hour contracts, which are expensed based on actual hours flown. Power-by-the-hour contracts transfer certain risk to third-party service providers and fix the amount we pay per flight hour to the service provider in exchange for maintenance and repairs under a predefined maintenance program. Modifications that enhance the operating performance or extend the useful lives of airframes or engines are capitalized and amortized over the remaining estimated useful life of the asset or the remaining lease term, whichever is shorter.
Advertising Costs Advertising CostsWe expense advertising costs in passenger commissions and other selling expenses in the year the advertising first takes place.
Commissions and Merchant Fees
Commissions and Merchant Fees

Passenger sales commissions and merchant fees are recognized in passenger commissions and other selling expenses when the related revenue is recognized.
Carbon Offset Costs
Carbon Offset Costs

We may purchase and retire carbon offsets and we expense the cost of carbon offsets upon retirement of the credits within aircraft fuel and related taxes on our income statement as these costs are related to our carbon emissions generated by our airline segment. The purchase of carbon offsets is included in operating activities on our cash flows statement. During 2021, we purchased and retired $95 million of carbon offsets, of which $30 million relates to 13 million metric tons of carbon emissions generated by our airline segment from March 1 to December 31, 2020 as well as $65 million which relates to a portion of 2021 carbon emissions generated by our airline segment.
Goodwill and Indefinite-Lived Intangible Assets
Goodwill and Indefinite-Lived Intangible Assets

Our goodwill and identifiable intangible assets relate to the airline segment. We apply a fair value-based impairment test to the carrying value of goodwill and indefinite-lived intangible assets on an annual basis (as of October 1) and, if certain events or circumstances indicate that an impairment loss may have been incurred, on an interim basis. We assess the value of our goodwill and indefinite-lived assets under either a qualitative or quantitative approach. Under a qualitative approach, we consider various market factors, including certain of the key assumptions listed below. We analyze these factors to determine if events and circumstances have affected the fair value of goodwill and indefinite-lived intangible assets. If we determine that it is more likely than not that the asset may be impaired, we use the quantitative approach to assess the asset's fair value and the amount of the impairment. Under a quantitative approach, we calculate the fair value of the asset incorporating the key assumptions listed below into our calculation.

We value goodwill and indefinite-lived intangible assets primarily using market and income approach valuation techniques. These measurements include the following key assumptions (1) forecasted revenues, expenses and cash flows, including the duration and extent of impact to our business and our alliance partners from the COVID-19 pandemic, (2) current discount rates, (3) observable market transactions and (4) anticipated changes to the regulatory environment (e.g., changes in slot access and/or availability, additional Open Skies agreements or changes to antitrust approvals). These assumptions are consistent with those that hypothetical market participants would use. Because we are required to make estimates and assumptions when evaluating goodwill and indefinite-lived intangible assets for impairment, actual transaction amounts may differ materially from these estimates. We recognize an impairment charge if the asset's carrying value exceeds its estimated fair value.
Changes in certain events and circumstances could result in impairment or a change from indefinite-lived to definite-lived. Factors which could cause impairment include, but are not limited to (1) negative trends in our market capitalization, (2) reduced profitability resulting from lower passenger mile yields or higher input costs (primarily related to fuel and employees), (3) lower passenger demand as a result of weakened U.S. and global economies, global pandemics or other factors, (4) interruption to our operations due to a prolonged employee strike, terrorist attack or other reasons, (5) changes to the regulatory environment (e.g., changes in slot access and/or availability, additional Open Skies agreements or changes to antitrust approvals), (6) competitive changes by other airlines and (7) strategic changes to our operations leading to diminished utilization of the intangible assets.

Identifiable Intangible Assets. Indefinite-lived assets are not amortized and consist of routes, slots, the Delta tradename and assets related to alliances and collaborative arrangements. Definite-lived intangible assets consist primarily of marketing and maintenance service agreements and are amortized on a straight-line basis or under the undiscounted cash flows method over the estimated economic life of the respective agreements. Costs incurred to renew or extend the term of an intangible asset are expensed as incurred.
v3.22.0.1
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2021
Accounting Policies [Abstract]  
Reconciliation of cash, cash equivalents, and restricted cash
The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the Consolidated Balance Sheets ("balance sheets") that sum to the total of the same such amounts shown within the Consolidated Statements of Cash Flows ("cash flows statement").

Reconciliation of cash, cash equivalents and restricted cash
December 31,
(in millions)202120202019
Current assets:
Cash and cash equivalents$7,933 $8,307 $2,882 
Restricted cash included in prepaid expenses and other163 192 212 
Noncurrent assets:
Cash restricted for airport construction473 1,556 636 
Total cash, cash equivalents and restricted cash$8,569 $10,055 $3,730 
Summary of property and equipment by classification The following table summarizes our property and equipment:
Property and equipment by classification
December 31,
(in millions, except for estimated useful life)Estimated Useful Life20212020
Flight equipment
20-34 years
$33,368 $31,572 
Ground property and equipment
3-40 years
7,758 6,387 
Information technology-related assets
3-15 years
3,389 3,403 
Flight and ground equipment under finance leasesShorter of lease term or estimated useful life2,052 1,795 
Advance payments for equipment853 883 
Less: accumulated depreciation and amortization(1)
(18,671)(17,511)
Total property and equipment, net$28,749 $26,529 
(1)Includes accumulated amortization for flight and ground equipment under finance leases in the amount of $456 million and $793 million at December 31, 2021 and 2020, respectively.
v3.22.0.1
Revenue Recognition (Tables)
 12 Months Ended
Dec. 31, 2021
Revenue from Contract with Customer [Abstract]  
Schedule of disaggregation of revenue
Passenger revenue is composed of passenger ticket sales, loyalty travel awards and travel-related services performed in conjunction with a passenger’s flight.

Passenger revenue by category
Year Ended December 31,
(in millions)202120202019
Ticket$19,339 $10,970 $36,908 
Loyalty travel awards1,786 935 2,900 
Travel-related services1,394 978 2,469 
Total passenger revenue$22,519 $12,883 $42,277 
Other Revenue
Year Ended December 31,
(in millions)202120202019
Refinery$3,229 $1,150 $97 
Loyalty program1,770 1,458 1,962 
Ancillary businesses793 648 1,200 
Miscellaneous556 348 718 
Total other revenue$6,348 $3,604 $3,977 
Schedule loyalty program activity
The table below presents the activity of the current and noncurrent loyalty program deferred revenue, and includes miles earned through travel and miles sold to participating companies, which are primarily through marketing agreements.

Loyalty program activity
(in millions)202120202019
Balance at January 1$7,182 $6,728 $6,641 
Miles earned2,238 1,437 3,156 
Travel miles redeemed(1,786)(935)(2,900)
Non-travel miles redeemed(75)(48)(169)
Balance at December 31$7,559 $7,182 $6,728 
Schedule of revenue by geographic region Our passenger and operating revenue by geographic region is summarized in the following table:
Revenue by geographic region
Passenger RevenueOperating Revenue
Year Ended December 31,Year Ended December 31,
(in millions)202120202019202120202019
Domestic$18,468 $10,041 $30,465 $24,320 $13,339 $33,382 
Atlantic1,777 1,171 6,326 2,537 1,649 7,308 
Latin America1,873 1,113 2,985 2,284 1,321 3,326 
Pacific401 558 2,501 758 786 2,991 
Total$22,519 $12,883 $42,277 $29,899 $17,095 $47,007 
v3.22.0.1
Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2021
Fair Value Disclosures [Abstract]  
Schedule of assets (liabilities) measured at fair value on a recurring basis Assets (Liabilities) Measured at Fair Value on a Recurring Basis(1)
December 31, 2021Valuation
Technique
(in millions)TotalLevel 1Level 2Level 3
Cash equivalents$5,450 $5,450 $— $— (a)
Restricted cash equivalents635 635 — — (a)
Short-term investments
U.S. Government securities3,386 1,376 2,010 — (a)
Long-term investments1,459 1,326 36 97 (a)(b)
Hedge derivatives, net
Fuel hedge contracts(18)— (18)— (a)(b)
Foreign currency exchange contracts1 — 1 — (a)
December 31, 2020Valuation
Technique
(in millions)TotalLevel 1Level 2Level 3
Cash equivalents$5,755 $5,755 $— $— (a)
Restricted cash equivalents1,747 1,747 — — (a)
Short-term investments
U.S. Government securities5,789 3,919 1,870 — (a)
Long-term investments1,417 948 38 431 (a)(b)
Hedge derivatives, net
Fuel hedge contracts(9)— (9)— (a)(b)
Interest rate contracts23 — 23 — (a)
Foreign currency exchange contracts(13)— (13)— (a)
(1)See Note 9, "Employee Benefit Plans," for fair value of benefit plan assets.
v3.22.0.1
Investments (Tables)
 12 Months Ended
Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]  
Schedule of fair value investments ownership interest and carrying value
Equity investments ownership interest and carrying value
Accounting TreatmentOwnership InterestCarrying Value
(in millions)December 31, 2021December 31, 2020December 31, 2021December 31, 2020
Wheels UpFair Value21 %24 %$241 $210 
Hanjin-KALFair Value13 %13 %455 512 
Air France-KLMFair Value6 %9 %165 235 
China EasternFair Value2 %3 %177 201 
CLEARFair Value6 %6 %260 120 
Unifi AviationEquity Method49 %49 %159 154 
Other investmentsVarious255 233 
Equity investments$1,712 $1,665 
Schedule of equity method investments ownership interest and carrying value
Equity investments ownership interest and carrying value
Accounting TreatmentOwnership InterestCarrying Value
(in millions)December 31, 2021December 31, 2020December 31, 2021December 31, 2020
Wheels UpFair Value21 %24 %$241 $210 
Hanjin-KALFair Value13 %13 %455 512 
Air France-KLMFair Value6 %9 %165 235 
China EasternFair Value2 %3 %177 201 
CLEARFair Value6 %6 %260 120 
Unifi AviationEquity Method49 %49 %159 154 
Other investmentsVarious255 233 
Equity investments$1,712 $1,665 
v3.22.0.1
Goodwill and Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule goodwill and indefinite-lived intangible assets by category These quantitative impairment tests of goodwill and intangibles concluded that there was no indication of impairment as the fair value exceeded our carrying value. In the December 2021 quarter we performed qualitative assessments of goodwill and indefinite-lived intangible assets, including applicable factors noted above, and determined that there was no indication that the assets were impaired. Our qualitative assessments include analyses and weighting of all relevant factors that impact the fair value of our goodwill and indefinite-lived intangible assets.
Goodwill and indefinite-lived intangible assets by category
Carrying Value atExcess Fair Value at 2020 Testing Date
(in millions)December 31, 2021December 31, 2020
Goodwill$9,753 $9,753 
>100%
International routes and slots2,583 2,583 
10% to 30%
Airline alliances1,863 1,863 
20% to >100%
Delta tradename850 850 
>100%
Domestic slots622 622 
60% to >100%
Total$15,671 $15,671 
Schedule of definite-lived intangible assets by category
Definite-Lived Intangible Assets

Definite-lived intangible assets by category
December 31, 2021December 31, 2020
(in millions)Gross Carrying Value 
Accumulated
Amortization		Gross Carrying Value 
Accumulated
Amortization
Marketing agreements$730 $(700)$730 $(696)
Maintenance contracts193 (140)193 (134)
Other53 (53)53 (53)
Total$976 $(893)$976 $(883)
v3.22.0.1
Debt (Tables)
 12 Months Ended
Dec. 31, 2021
Debt Disclosure [Abstract]  
Schedule of outstanding debt by category
The following table summarizes our debt as of the dates indicated below:

Summary of outstanding debt by category
Maturity
Interest Rate(s) Per Annum at
December 31,
(in millions)DatesDecember 31, 202120212020
Unsecured notes2022to20292.90%to7.38%$4,354 $5,350 
Unsecured Payroll Support Program Loans2030to 20311.00%3,4961,648 
Financing arrangements secured by SkyMiles assets:
SkyMiles Notes(1)
2023to20284.50%and 4.75%6,000 6,000 
SkyMiles Term Loan(1)(2)
2023to20274.75%2,820 3,000 
Financing arrangements secured by slots, gates and/or routes:
2020 Senior Secured Notes20257.00%2,589 3,500 
2020 Term Loann/an/a— 1,493 
2018 Revolving Credit Facility(2)
2023to2024Undrawn— — 
Financing arrangements secured by aircraft:
Certificates(1)
2022to20282.00%to8.00%1,932 2,633 
Notes(1)(2)
2022to20330.79%to5.75%1,139 1,284 
NYTDC Special Facilities Revenue Bonds, Series 2020(1)
2026to20454.00%to5.00%1,511 1,511 
NYTDC Special Facilities Revenue Bonds, Series 2018(1)
2022to20364.00%to5.00%1,383 1,383 
Other financings(1)(2)
2022to20302.51%to8.00%68 412 
Other revolving credit facilities(2)
2022to2024Undrawn— — 
Total secured and unsecured debt25,292 28,214 
Unamortized (discount)/premium and debt issuance cost, net and other(208)(240)
Total debt25,084 27,974 
Less: current maturities(1,502)(1,443)
Total long-term debt$23,582 $26,531 
(1)Due in installments.
(2)Certain financings are comprised of variable rate debt. All variable rates are equal to LIBOR (generally subject to a floor) or another index rate plus a specified margin.
Schedule of payroll support program activity
A summary of the amounts received and warrants issued under the initial payroll support program under the CARES Act and the payroll support program extensions is set forth in the following table:

Summary of payroll support program activity
(in millions)TotalGrantLoanNumber of Warrants
Percentage of Outstanding Shares at December 31, 2021
Payroll Support Program (PSP1)$5,594 $3,946 $1,648 6.8 1.1 %
Payroll Support Program Extension (PSP2)3,290 2,333 957 2.4 0.4 %
Payroll Support Program 3 (PSP3)3,069 2,178 891 1.9 0.3 %
Total$11,953 $8,457 $3,496 11.1 1.8 %
Schedule of fair value of outstanding debt The fair value of debt, shown below, is principally based on reported market values, recently completed market transactions and estimates based on interest rates, maturities, credit risk and underlying collateral. Debt is primarily classified as Level 2 within the fair value hierarchy.
Fair value of outstanding debt
(in millions)December 31,
2021		December 31,
2020
Net carrying amount$25,084 $27,974 
Fair value$26,900 $29,800 
Schedule of future debt maturities
The following table summarizes scheduled maturities of our debt for the years succeeding December 31, 2021:

Future debt maturities

(in millions)		Total DebtAmortization of
Debt (Discount)/Premium and Debt Issuance Cost, net and other
2022$1,483 $(54)
20232,516 (60)
20243,094 (61)
20254,215 (39)
20263,051 (8)
Thereafter10,933 14 
Total$25,292 $(208)$25,084 
v3.22.0.1
Leases (Tables)
 12 Months Ended
Dec. 31, 2021
Leases [Abstract]  
Schedule of lease asset and liability balance sheet position by category
The table below presents the lease-related assets and liabilities recorded on the balance sheet.

Lease asset and liability balance sheet position by category
December 31,
(in millions)Classification on the Balance Sheet20212020
Assets
Operating lease assetsOperating lease right-of-use assets$7,237 $5,733 
Finance lease assetsProperty and equipment, net1,596 1,002 
Total lease assets$8,833 $6,735 
Liabilities
Current
OperatingCurrent maturities of operating leases$703 $678 
FinanceCurrent maturities of debt and finance leases280 289 
Noncurrent
OperatingNoncurrent operating leases7,056 5,713 
FinanceDebt and finance leases1,556 894 
Total lease liabilities$9,595 $7,574 
Weighted-average remaining lease term
Operating leases13 years12 years
Finance leases6 years5 years
Weighted-average discount rate
Operating leases
3.81 %4.88 %
Finance leases3.36 %3.61 %
Schedule of lease cost by category
The table below presents certain information related to the lease costs for finance and operating leases.

Lease cost by category
Year Ended December 31,
(in millions)202120202019
Finance lease cost
Amortization of leased assets$131 $131 $110 
Interest of lease liabilities55 32 29 
Operating lease cost(1)
863 1,019 1,013 
Short-term lease cost
245 264 500 
Variable lease cost(1)
1,599 1,406 1,456 
Total lease cost$2,893 $2,852 $3,108 
(1)Expenses are classified within aircraft rent, landing fees and other rents and regional carrier expense on the income statement. For the years ended December 31, 2021, 2020 and 2019, operating lease costs of $111 million, $187 million and $174 million, respectively, are attributed to our regional carriers. For the years ended December 31, 2021, 2020 and 2019, variable lease costs of $29 million, $50 million and $64 million, respectively, are attributable to our regional carriers.
Schedule supplemental lease-related cash flow information
The table below presents supplemental cash flow information related to leases.

Supplemental lease-related cash flow information
Year Ended December 31,
(in millions)202120202019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases$999 $1,053 $1,166 
Operating cash flows for finance leases46 32 27 
Financing cash flows for finance leases336 255 192 
Schedule of future cash flows and reconciliation to the balance sheet, operating leases
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.

Future lease cash flows and reconciliation to the balance sheet
(in millions)Operating LeasesFinance Leases
2022$944 $324 
2023974 286 
2024894 369 
2025866 232 
2026766 168 
Thereafter5,307 636 
Total minimum lease payments9,751 2,015 
Less: amount of lease payments representing interest(1,992)(179)
Present value of future minimum lease payments7,759 1,836 
Less: current obligations under leases(703)(280)
Long-term lease obligations$7,056 $1,556 
Schedule of future cash flows and reconciliation to the balance sheet, finance leases
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.

Future lease cash flows and reconciliation to the balance sheet
(in millions)Operating LeasesFinance Leases
2022$944 $324 
2023974 286 
2024894 369 
2025866 232 
2026766 168 
Thereafter5,307 636 
Total minimum lease payments9,751 2,015 
Less: amount of lease payments representing interest(1,992)(179)
Present value of future minimum lease payments7,759 1,836 
Less: current obligations under leases(703)(280)
Long-term lease obligations$7,056 $1,556 
v3.22.0.1
Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2021
Retirement Benefits [Abstract]  
Schedule of benefit obligations, fair value of plan assets, and funded status
Benefit Obligations, Fair Value of Plan Assets and Funded Status
Pension BenefitsOther Postretirement and Postemployment Benefits
December 31,December 31,
(in millions)2021202020212020
Benefit obligation at beginning of period$22,626 $21,199 $4,766 $3,379 
Service cost— — 86 96 
Interest cost582 700 117 120 
Actuarial (gain)/loss(851)2,051 23 247 
Benefits paid, including lump sums and annuities(1,279)(1,233)(405)(356)
Participant contributions— — 18 20 
Special termination benefits— — — 1,260 
Settlements(5)(91)— — 
Benefit obligation at end of period(1)
$21,073 $22,626 $4,605 $4,766 
Fair value of plan assets at beginning of period$16,541 $15,845 $496 $607 
Actual gain on plan assets2,732 1,973 57 76 
Employer contributions1,513 47 192 189 
Participant contributions— — 18 20 
Benefits paid, including lump sums and annuities(1,279)(1,233)(406)(396)
Settlements(5)(91)— — 
Fair value of plan assets at end of period$19,502 $16,541 $357 $496 
Funded status at end of period$(1,571)$(6,085)$(4,248)$(4,270)

(1)At the end of each year presented, our accumulated benefit obligations for our pension plans are equal to the benefit obligations shown above.
Schedule of amounts balance sheet position Balance Sheet Position
Pension BenefitsOther Postretirement and Postemployment Benefits
December 31,December 31,
(in millions)2021202020212020
Current liabilities$(9)$(10)$(203)$(143)
Noncurrent liabilities(1,562)(6,075)(4,045)(4,127)
Total liabilities$(1,571)$(6,085)$(4,248)$(4,270)
Net actuarial loss$(7,462)$(9,878)$(831)$(886)
Prior service credit— — 23 29 
Total accumulated other comprehensive loss, pre-tax$(7,462)$(9,878)$(808)$(857)
Schedule of net periodic (benefit) cost Net Periodic (Benefit) Cost
Pension BenefitsOther Postretirement and Postemployment Benefits
Year Ended December 31,Year Ended December 31,
(in millions)202120202019202120202019
Service cost$— $— $— $86 $96 $83 
Interest cost582 700 833 117 120 137 
Expected return on plan assets(1,522)(1,373)(1,186)(34)(44)(47)
Amortization of prior service credit— — — (6)(9)(9)
Recognized net actuarial loss354 300 291 55 44 37 
Settlements2 38 5 — — — 
Special termination benefits— — — — 1,260 — 
Net periodic (benefit) cost
$(584)$(335)$(57)$218 $1,467 $201 
Schedule of assumptions used to determine benefit obligations and net periodic costs
We used the following actuarial assumptions to determine our benefit obligations and our net periodic benefit cost for the periods presented:
December 31,
Benefit Obligations(1)
20212020
Weighted average discount rate2.97 %2.62 %

Year Ended December 31,
Net Periodic (Benefit) Cost(1)
202120202019
Weighted average discount rate - pension benefit2.65 %3.40 %4.33 %
Weighted average discount rate - other postretirement benefit2.43 %3.47 %4.32 %
Weighted average discount rate - other postemployment benefit2.55 %3.34 %4.32 %
Weighted average expected long-term rate of return on plan assets8.98 %8.97 %8.97 %
Assumed healthcare cost trend rate for the next year(2)
6.25 %6.25 %6.50 %
(1)Future employee compensation levels do not impact our frozen defined benefit pension plans or other postretirement plans and impact only a small portion of our other postemployment obligation.
(2)Healthcare cost trend rate is assumed to decline gradually to 5.00% by 2028 and remain unchanged thereafter.
Schedule of expected future benefit payments
The following table summarizes the benefit payments that are expected to be paid in the years ending December 31:

Expected future benefit payments
(in millions)Pension BenefitsOther Postretirement and Postemployment Benefits
2022$1,290 $420 
20231,280 460 
20241,270 460 
20251,270 460 
20261,260 460 
2027-20316,110 2,160 
Schedule of benefit plan assets measured at fair value on recurring basis The following table shows our benefit plan assets by asset class.
Benefit plan assets measured at fair value on a recurring basis
December 31, 2021December 31, 2020Valuation Technique
(in millions)Level 1Level 2TotalLevel 1Level 2Total
Cash equivalents$2,390 $2,097 $4,487 $305 $3,359 $3,664 (a)
Equities and equity-related instruments1,034 161 1,195 1,061 59 1,120 (a)
Fixed income and fixed income-related instruments69 979 1,048 — 882 882 (a)(b)
Delta common stock407 — 407 507 — 507 (a)
Real assets— 256 256 — — — (a)
Benefit plan assets$3,900 $3,493 $7,393 $1,873 $4,300 $6,173 
Investments measured at net asset value ("NAV")(1)
12,653 10,427 
Total benefit plan assets$20,046 $16,600 
(1) Investments that were measured at NAV per share (or its equivalent) as a practical expedient have not been classified in the fair value hierarchy.
Schedule of benefit plan investments assets measured at NAV
The following table summarizes investments measured at fair value based on NAV per share as a practical expedient:

Benefit plan investment assets measured at NAV
December 31, 2021December 31, 2020
(in millions)Fair ValueRedemption FrequencyRedemption Notice PeriodFair ValueRedemption FrequencyRedemption Notice Period
Hedge funds and hedge fund-related strategies(4)
$7,563 (3)
2-180 Days
$5,474 (3)
2-180 Days
Commingled funds, private equity and private equity-related instruments(4)
2,228 (3)
3-45 Days
2,136 (3)
3-30 Days
Fixed income and fixed income-related instruments(4)
877 (3)
65-90 Days
1,118 (3)
15-90 Days
Real assets(4)
773 (2)N/A671 (2)N/A
Other1,212 (1)
2-10 Days
1,028 (1)
2-90 Days
Total investments measured at NAV$12,653 $10,427 
(1)Weekly, semi-monthly, monthly
(2)Semi-annually and annually
(3)Various. Includes funds with weekly, semi-monthly, monthly, quarterly and custom redemption frequencies as well as funds with a redemption window following the anniversary of the initial investment.
(4)Unfunded commitments were $1.0 billion for commingled funds, private equity and private equity-related instruments, $259 million for fixed income and fixed income-related instruments and $386 million for real assets at December 31, 2021.
v3.22.0.1
Commitments and Contingencies (Tables)
 12 Months Ended
Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]  
Schedule of aircraft purchase commitments
Our future aircraft purchase commitments totaled approximately $16.2 billion at December 31, 2021:

Aircraft purchase commitments
(in millions)Total
2022$3,700 
20233,040 
20243,290 
20252,880 
20262,340 
Thereafter920 
Total$16,170 

Our future aircraft purchase commitments included the following aircraft at December 31, 2021:

Aircraft purchase commitments by fleet type
Fleet TypePurchase Commitments
A220-1004 
A220-30040 
A321-200neo155 
A330-900neo26 
A350-90020 
B-737-900ER19 
Total264 
Schedule of contract carrier minimum obligations
The following table shows our minimum obligations under our existing capacity purchase agreements with third-party regional carriers. The obligations set forth in the table contemplate minimum levels of flying by the regional carriers under the respective agreements and also reflect assumptions regarding certain costs associated with the minimum levels of flying such as the cost of fuel, labor, maintenance, insurance, catering, property tax and landing fees. Accordingly, our actual payments under these agreements could differ materially from the minimum fixed obligations set forth in the table below.

Contract carrier minimum obligations
(in millions)
Amount (1)
2022$1,513 
20231,515 
20241,488 
20251,521 
20261,554 
Thereafter4,141 
Total$11,732 

(1)These amounts exclude contract carrier payments accounted for as leases of aircraft, which are described in Note 7, "Leases."
Schedule of domestic airline employees represented by collective bargaining agreements by group
Domestic airline employees represented by collective bargaining agreements by group
Employee GroupApproximate Number of Employees RepresentedUnionDate on which Collective Bargaining Agreement Becomes Amendable
Delta Pilots13,180 ALPADecember 31, 2019
Delta Flight Superintendents (Dispatchers)
380 PAFCANovember 1, 2024
Endeavor Air Pilots1,900 ALPAJanuary 1, 2029
Endeavor Air Flight Attendants
1,480 AFAMarch 31, 2025
v3.22.0.1
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2021
Income Tax Disclosure [Abstract]  
Schedule of components of income tax benefit (provision)
Components of income tax (provision) benefit
Year Ended December 31,
(in millions)202120202019
Current tax (provision) benefit:
Federal$— $94 $94 
State and local(1)3 (39)
International(3)(5)(13)
Deferred tax (provision) benefit:
Federal(130)2,766 (1,343)
State and local16 344 (130)
Income tax (provision) benefit$(118)$3,202 $(1,431)
Schedule of effective income tax rate reconciliation
The following table presents the principal reasons for the difference between the effective tax rate and the U.S. federal statutory income tax rate:

Reconciliation of statutory federal income tax rate to the effective income tax rate
Year Ended December 31,
202120202019
U.S. federal statutory income tax rate21.0 %21.0 %21.0 %
State taxes, net of federal benefit(4.4)1.9 2.3 
Permanent differences4.9 (0.6)(0.3)
Valuation allowance9.1 (2.6)0.7 
Other(0.8)0.8 (0.6)
Effective income tax rate29.8 %20.5 %23.1 %
Schedule of significant components of deferred income tax assets and liabilities
Significant components of deferred income tax assets and liabilities
December 31,
(in millions)20212020
Deferred tax assets:
Net operating loss carryforwards$1,301 $1,495 
Capital loss carryforward480 483 
Pension, postretirement and other benefits2,089 2,956 
Investments314 — 
Deferred revenue2,288 1,929 
Lease liabilities2,452 2,185 
Other494 479 
Valuation allowance(833)(460)
Total deferred tax assets$8,585 $9,067 
Deferred tax liabilities:
Depreciation$4,463 $4,507 
Operating lease assets1,676 1,324 
Intangible assets1,097 1,076 
Other55 172 
Total deferred tax liabilities$7,291 $7,079 
Net deferred tax assets
$1,294 $1,988 
Schedule of valuation allowance on deferred income tax assets
The following table presents the balance of our valuation allowance on our deferred income tax assets and the associated activity:

Valuation allowance activity
(in millions)20212020
Balance at January 1$460 $58 
Tax provision26 402 
Equity investment activity347 — 
Balance at December 31$833 $460 
v3.22.0.1
Equity and Equity Compensation (Tables)
 12 Months Ended
Dec. 31, 2021
Equity [Abstract]  
Schedule of restricted stock activity Restricted stock activity under the plan for the years ended December 31, 2021, 2020 and 2019 is as follows:
Restricted Stock Award Activity
202120202019
Restricted Stock AwardsWeighted-Average Grant PriceRestricted Stock AwardsWeighted-Average Grant PriceRestricted Stock AwardsWeighted-Average Grant Price
(in millions, except wtd avg grant price)
Outstanding at January 12.2 $54.06 2.6 $51.28 2.4 $49.24 
Granted2.3 39.93 1.4 56.84 1.8 51.75 
Vested(1.4)51.15 (1.6)51.95 (1.5)48.65 
Forfeited(0.2)44.01 (0.2)56.11 (0.1)50.78 
Outstanding at December 312.9 $45.66 2.2 $54.06 2.6 $51.28 
Schedule of stock option activity Stock option activity under the plan for the years ended December 31, 2021, 2020 and 2019 is as follows:
Stock Option Activity
202120202019
Stock OptionsWeighted-Average Exercise PriceStock OptionsWeighted-Average Exercise PriceStock OptionsWeighted-Average Exercise Price
(in millions, except wtd avg grant price)
Outstanding at January 15.4$52.37 3.9$49.57 2.5 $48.99 
Granted1.0 39.78 1.6 58.89 1.4 50.52 
Exercised — — (0.1)44.05 — — 
Forfeited(0.2)49.61 — — — — 
Outstanding at December 316.2 $50.41 5.4 $52.37 3.9 $49.57 
v3.22.0.1
Accumulated Other Comprehensive Loss (Tables)
 12 Months Ended
Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Schedule of components of accumulated other comprehensive loss
Components of accumulated other comprehensive loss
(in millions)
Pension and Other Benefits Liabilities(2)
Other(3)
Total
Balance at January 1, 2019 (net of tax effect of $1,492)
$(7,925)$100 $(7,825)
Changes in value (net of tax effect of $133)
(422)7 (415)
Reclassifications into earnings (net of tax effect of $76)(1)
252 (1)251 
Balance at December 31, 2019 (net of tax effect of $1,549)
(8,095)106 (7,989)
Changes in value (net of tax effect of $384)
(1,269)17 (1,252)
Reclassifications into earnings (net of tax effect of $169)(1)
286 (83)203 
Balance at December 31, 2020 (net of tax effect $1,764)
(9,078)40 (9,038)
Changes in value (net of tax effect of $484)
1,593 — 1,593 
Reclassifications into earnings (net of tax effect of $96)(1)
315 — 315 
Balance at December 31, 2021 (net of tax effect of $1,184)
$(7,170)$40 $(7,130)
(1)Amounts reclassified from AOCI for pension and other benefits liabilities are recorded in pension and related benefit/(expense) in non-operating expense in the income statement.
(2)Includes approximately $760 million of deferred income tax expense as a result of tax law changes and prior valuation allowance releases through continuing operations, that will not be recognized in net income until pension and other benefit obligations are fully extinguished.
(3)In 2020, all remaining foreign currency hedges expired, and we recognized an $83 million tax benefit which was released from AOCI.
v3.22.0.1
Segments (Tables)
 12 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]  
Schedule of financial information by segment Segment results are prepared based on our internal accounting methods described below, with reconciliations to consolidated amounts in accordance with GAAP. Our segments are not designed to measure operating income or loss directly related to the products and services included in each segment on a stand-alone basis.
Financial information by segment
(in millions)AirlineRefineryIntersegment Sales/OtherConsolidated
Year Ended December 31, 2021
Operating revenue:$26,670 $6,054 $29,899 
Sales to airline segment$(492)
(1)
Exchanged products(2,293)
(2)
Sales of refined products(40)
(3)
Operating income (loss)(4)
1,888 (2)1,886 
Interest expense, net1,272 7 1,279 
Depreciation and amortization1,998 95 (95)
(4)
1,998 
Restructuring charges(19)— (19)
Total assets, end of period70,360 2,099 72,459 
Net fair value obligations, end of period(5)
— (497)(497)
Capital expenditures3,188 59 3,247 
Year Ended December 31, 2020
Operating revenue:$15,945 $3,143 $17,095 
Sales to airline segment$(214)
(1)
Exchanged products(1,472)
(2)
Sales of refined products(307)
(3)
Operating loss(4)
(12,253)(216)(12,469)
Interest expense, net928 1 929 
Depreciation and amortization2,312 99 (99)
(4)
2,312 
Restructuring charges8,219 — 8,219 
Total assets, end of period70,548 1,448 71,996 
Net fair value obligations, end of period(5)
— (156)(156)
Capital expenditures1,879 20 1,899 
Year Ended December 31, 2019
Operating revenue:$46,910 $5,558 $47,007 
Sales to airline segment$(1,103)
(1)
Exchanged products(3,963)
(2)
Sales of refined products(395)
(3)
Operating income(4)
6,542 76 6,618 
Interest expense (income), net327 (26)301 
Depreciation and amortization2,581 99 (99)
(4)
2,581 
Total assets, end of period62,793 1,739 64,532 
Net fair value obligations, end of period(5)
— (4)(4)
Capital expenditures4,880 56 4,936 

(1)Represents transfers, valued on a market price basis, from the refinery to the airline segment for use in airline operations. We determine market price by reference to the market index for the primary delivery location, which is New York Harbor, for jet fuel from the refinery.
(2)Represents value of products delivered under our exchange agreements, as discussed above, determined on a market price basis.
(3)These sales were at or near cost; accordingly, the margin on these sales is de minimis.
(4)Refinery segment operating results, including depreciation and amortization, are included within aircraft fuel and related taxes in our income statement.
(5)The fair values of these obligations, which are related to renewable fuel compliance costs, are based on quoted market prices and other observable information and are classified as Level 2 in the fair value hierarchy. At December 31, 2021 we had a gross fair value obligation of $593 million recorded in current liabilities on the balance sheet and related assets of $96 million. Our obligation as of December 31, 2021 was calculated using the EPA's proposed Renewable Fuel Standard ("RFS") volume requirements for 2020 and 2021, which were issued in December 2021. The EPA has not finalized the compliance deadlines to retire our obligations for 2020 and 2021, but we expect those deadlines to be within one year of the effective date of the new RFS volume requirements. At December 31, 2020 we had a gross fair value obligation of $172 million and related assets of $16 million. At December 31, 2019 we had a gross fair value obligation of $58 million and related assets of $54 million. We expect to use the assets in settling a portion of our obligations.
v3.22.0.1
Restructuring (Tables)
 12 Months Ended
Dec. 31, 2021
Restructuring and Related Activities [Abstract]  
Schedule of restructuring charges by category During 2020, we implemented enhanced measures focusing on the safety of our customers and employees, while at the same time seeking to mitigate the impact on our financial position and operations and to position our business for recovery through actions including fleet retirements, offering voluntary retirement and separation programs and other decisions. These actions resulted in significant restructuring charges during 2020 which are summarized as follows:
Restructuring charges by category
Year Ended
(in millions)December 31, 2020
Fleet Retirements$4,409 
Voluntary Programs and Other Employee Benefit Charges3,409 
Receivables and Other401 
Total Restructuring Charges$8,219 
Schedule of fleet retirements by aircraft type As a result of the COVID-19 pandemic and our response, we made decisions to remove certain aircraft from active service and to early retire certain fleets. The table below summarizes the number of leased and owned aircraft being retired early, though we remain flexible and may decide to fly certain aircraft beyond their planned retirement date, to the extent supported by demand.
Fleet retirement by aircraft type
Fleet TypeNumber of AircraftPlanned Retirement During the Quarter EndedImpairment-Related Charge (in millions)
77718 December 2020$1,440 
767-300ER56 December 20251,084 
71791 December 2025950 
MD-9026 June 2020335 
CRJ-200 (1)
125 December 2023320 
737-70010 September 2020223 
A32010 June 202057 
MD-88 (2)
47 June 2020— 
Total383 $4,409 
(1)Certain of the CRJ-200 aircraft scheduled to be retired by the December 2023 quarter are operated for us by SkyWest Airlines under a revenue proration agreement.
(2)During the March 2020 quarter, we recorded a $22 million charge related to accelerating the planned retirement of the MD-88 fleet from December 2020 to June 2020. However, this amount was recorded in depreciation and amortization, rather than in restructuring charges, as it would have been incurred during 2020 prior to the onset of the COVID-19 pandemic.
v3.22.0.1
Earnings /(Loss) Per Share (Tables)
 12 Months Ended
Dec. 31, 2021
Earnings Per Share [Abstract]  
Schedule of computation of basic and diluted (loss)/earnings per share The following table shows our computation:
Basic and diluted earnings/(loss) per share
Year Ended December 31,
(in millions, except per share data)202120202019
Net income/(loss)$280 $(12,385)$4,767 
Basic weighted average shares outstanding636 636 651 
Dilutive effect of share-based awards5 — 2 
Diluted weighted average shares outstanding641 636 653 
Basic earnings/(loss) per share$0.44 $(19.49)$7.32 
Diluted earnings/(loss) per share$0.44 $(19.49)$7.30 
v3.22.0.1
Summary of Significant Accounting Policies - Narrative (Details)
t in Millions
 12 Months Ended
Dec. 31, 2021
USD ($)
t
Dec. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
Summary of Significant Accounting Policies [Line Items]      
Regional carrier expense $ 1,736,000,000 $ 1,584,000,000 $ 2,158,000,000
Derivative contracts, net 17,000,000 1,000,000  
Depreciation and amortization expense related to property and equipment 1,998,000,000 2,312,000,000 2,581,000,000
Amortization of capitalized software 301,000,000 304,000,000 239,000,000
Net book value of capitalized software 876,000,000 1,000,000,000  
Restructuring charges (19,000,000) 8,219,000,000 0
Fuel card obligation 1,100,000,000 1,100,000,000  
Advertising expense 198,000,000 119,000,000 288,000,000
Expense related to carbon offset credits 95,000,000    
Expense related to carbon offset credits, emissions in prior year $ 30,000,000    
Carbon emissions generated in prior year | t 13    
Expense related to carbon offset credits, emissions in current year $ 65,000,000    
Effect of allocation      
Summary of Significant Accounting Policies [Line Items]      
Regional carrier expense   $ (900,000,000) $ (1,400,000,000)
Fuel Card Obligation      
Summary of Significant Accounting Policies [Line Items]      
Purchasing card maximum limit $ 1,100,000,000    
Minimum      
Summary of Significant Accounting Policies [Line Items]      
Estimated residual value (percent) 5.00%    
Maximum      
Summary of Significant Accounting Policies [Line Items]      
Estimated residual value (percent) 10.00%    
Software and software development costs | Minimum      
Summary of Significant Accounting Policies [Line Items]      
Estimated useful life 3 years    
Software and software development costs | Maximum      
Summary of Significant Accounting Policies [Line Items]      
Estimated useful life 10 years    
v3.22.0.1
Summary of Significant Accounting Policies - Cash, Cash Equivalents, and Restricted Cash Reconciliation (Details) - USD ($)
$ in Millions
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Current assets:        
Cash and cash equivalents $ 7,933 $ 8,307 $ 2,882  
Restricted cash included in prepaid expenses and other 163 192 212  
Noncurrent assets:        
Cash restricted for airport construction 473 1,556 636  
Total cash, cash equivalents and restricted cash $ 8,569 $ 10,055 $ 3,730 $ 2,748
v3.22.0.1
Summary of Significant Accounting Policies - Property and Equipment, net (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Property, Plant and Equipment [Line Items]    
Less: accumulated depreciation and amortization $ (18,671) $ (17,511)
Total property and equipment, net 28,749 26,529
Flight equipment    
Property, Plant and Equipment [Line Items]    
Property and equipment, gross $ 33,368 31,572
Flight equipment | Minimum    
Property, Plant and Equipment [Line Items]    
Estimated useful life 20 years  
Flight equipment | Maximum    
Property, Plant and Equipment [Line Items]    
Estimated useful life 34 years  
Ground property and equipment    
Property, Plant and Equipment [Line Items]    
Property and equipment, gross $ 7,758 6,387
Ground property and equipment | Minimum    
Property, Plant and Equipment [Line Items]    
Estimated useful life 3 years  
Ground property and equipment | Maximum    
Property, Plant and Equipment [Line Items]    
Estimated useful life 40 years  
Information technology-related assets    
Property, Plant and Equipment [Line Items]    
Property and equipment, gross $ 3,389 3,403
Information technology-related assets | Minimum    
Property, Plant and Equipment [Line Items]    
Estimated useful life 3 years  
Information technology-related assets | Maximum    
Property, Plant and Equipment [Line Items]    
Estimated useful life 15 years  
Flight and ground equipment under finance leases    
Property, Plant and Equipment [Line Items]    
Property and equipment, gross $ 2,052 1,795
Less: accumulated depreciation and amortization (456) (793)
Advance payments for equipment    
Property, Plant and Equipment [Line Items]    
Property and equipment, gross $ 853 $ 883
v3.22.0.1
Revenue Recognition - Passenger Revenue (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Disaggregation of Revenue [Line Items]      
Operating revenue $ 29,899 $ 17,095 $ 47,007
Passenger      
Disaggregation of Revenue [Line Items]      
Operating revenue 22,519 12,883 42,277
Ticket      
Disaggregation of Revenue [Line Items]      
Operating revenue 19,339 10,970 36,908
Loyalty travel awards      
Disaggregation of Revenue [Line Items]      
Operating revenue 1,786 935 2,900
Travel-related services      
Disaggregation of Revenue [Line Items]      
Operating revenue $ 1,394 $ 978 $ 2,469
v3.22.0.1
Revenue Recognition - Narrative (Details) - USD ($)
$ in Billions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Revenue from Contract with Customer [Abstract]      
Revenue recognized that was previously recorded in air traffic liability $ 2.2 $ 3.1 $ 3.8
Total value of cash refunds to customers $ 1.1 $ 3.1  
Travel credits as a percentage of air traffic liability 45.00% 65.00%  
Marketing contracts initial terms, minimum (in years) 3 years    
Marketing contracts initial terms, maximum (in years) 11 years    
Cash sales of miles from marketing agreements $ 4.1 $ 2.9 $ 4.2
Majority of new miles, redemption period (in years) 2 years    
v3.22.0.1
Revenue Recognition - Loyalty Program Liability (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Loyalty Program      
Miles earned $ 2,238 $ 1,437 $ 3,156
Travel miles redeemed (1,786) (935) (2,900)
Non-travel miles redeemed (75) (48) (169)
Loyalty program      
Loyalty Program      
Current and noncurrent deferred revenue, beginning 7,182 6,728 6,641
Current and noncurrent deferred revenue, ending $ 7,559 $ 7,182 $ 6,728
v3.22.0.1
Revenue Recognition - Other Revenue (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Disaggregation of Revenue [Line Items]      
Operating revenue $ 29,899 $ 17,095 $ 47,007
Other      
Disaggregation of Revenue [Line Items]      
Operating revenue 6,348 3,604 3,977
Refinery      
Disaggregation of Revenue [Line Items]      
Operating revenue 3,229 1,150 97
Loyalty program      
Disaggregation of Revenue [Line Items]      
Operating revenue 1,770 1,458 1,962
Ancillary businesses      
Disaggregation of Revenue [Line Items]      
Operating revenue 793 648 1,200
Miscellaneous      
Disaggregation of Revenue [Line Items]      
Operating revenue $ 556 $ 348 $ 718
v3.22.0.1
Revenue Recognition - Revenue by Geographic Region (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Disaggregation of Revenue [Line Items]      
Operating revenue $ 29,899 $ 17,095 $ 47,007
Domestic      
Disaggregation of Revenue [Line Items]      
Operating revenue 24,320 13,339 33,382
Atlantic      
Disaggregation of Revenue [Line Items]      
Operating revenue 2,537 1,649 7,308
Latin America      
Disaggregation of Revenue [Line Items]      
Operating revenue 2,284 1,321 3,326
Pacific      
Disaggregation of Revenue [Line Items]      
Operating revenue 758 786 2,991
Passenger      
Disaggregation of Revenue [Line Items]      
Operating revenue 22,519 12,883 42,277
Passenger | Domestic      
Disaggregation of Revenue [Line Items]      
Operating revenue 18,468 10,041 30,465
Passenger | Atlantic      
Disaggregation of Revenue [Line Items]      
Operating revenue 1,777 1,171 6,326
Passenger | Latin America      
Disaggregation of Revenue [Line Items]      
Operating revenue 1,873 1,113 2,985
Passenger | Pacific      
Disaggregation of Revenue [Line Items]      
Operating revenue $ 401 $ 558 $ 2,501
v3.22.0.1
Fair Value Measurements - Fair Value Measurements on a Recurring Basis (Details) - Recurring - USD ($)
$ in Millions
Dec. 31, 2021
Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash equivalents $ 5,450 $ 5,755
Restricted cash equivalents 635 1,747
Long-term investments 1,459 1,417
U.S. Government securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Short-term investments 3,386 5,789
Fuel hedge contracts    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Hedge derivatives, net (18) (9)
Interest rate contracts    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Hedge derivatives, net   23
Foreign currency exchange contracts    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Hedge derivatives, net 1 (13)
Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash equivalents 5,450 5,755
Restricted cash equivalents 635 1,747
Long-term investments 1,326 948
Level 1 | U.S. Government securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Short-term investments 1,376 3,919
Level 1 | Fuel hedge contracts    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Hedge derivatives, net 0 0
Level 1 | Interest rate contracts    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Hedge derivatives, net   0
Level 1 | Foreign currency exchange contracts    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Hedge derivatives, net 0 0
Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash equivalents 0 0
Restricted cash equivalents 0 0
Long-term investments 36 38
Level 2 | U.S. Government securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Short-term investments 2,010 1,870
Level 2 | Fuel hedge contracts    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Hedge derivatives, net (18) (9)
Level 2 | Interest rate contracts    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Hedge derivatives, net   23
Level 2 | Foreign currency exchange contracts    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Hedge derivatives, net 1 (13)
Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash equivalents 0 0
Restricted cash equivalents 0 0
Long-term investments 97 431
Level 3 | U.S. Government securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Short-term investments 0 0
Level 3 | Fuel hedge contracts    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Hedge derivatives, net 0 0
Level 3 | Interest rate contracts    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Hedge derivatives, net   0
Level 3 | Foreign currency exchange contracts    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Hedge derivatives, net $ 0 $ 0
v3.22.0.1
Fair Value Measurements - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Short-term investments $ 3,386 $ 5,789  
Short-term investments expected to mature in one year or less 2,800    
Fuel hedge contracts      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Gain (loss) recognized on derivatives $ (146) $ 85 $ (41)
v3.22.0.1
Investments - Equity Investments Ownership Interest and Carrying Value (Details) - USD ($)
$ in Millions
Dec. 31, 2021
Dec. 31, 2020
Equity Investments    
Equity investments $ 1,712 $ 1,665
Wheels Up    
Equity Investments    
Ownership interest (percent) 21.00% 24.00%
Carrying value $ 241 $ 210
Hanjin-KAL    
Equity Investments    
Ownership interest (percent) 13.00% 13.00%
Carrying value $ 455 $ 512
Air France-KLM    
Equity Investments    
Ownership interest (percent) 6.00% 9.00%
Carrying value $ 165 $ 235
China Eastern    
Equity Investments    
Ownership interest (percent) 2.00% 3.00%
Carrying value $ 177 $ 201
CLEAR    
Equity Investments    
Ownership interest (percent) 6.00% 6.00%
Carrying value $ 260 $ 120
Other Investments    
Equity Investments    
Carrying value $ 255 $ 233
Unifi Aviation    
Equity Investments    
Ownership interest (percent) 49.00% 49.00%
Carrying value $ 159 $ 154
v3.22.0.1
Investments - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2021
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Schedule of Equity Method Investments [Line Items]        
Impairments and equity method losses   $ 337 $ 2,432 $ 62
CLEAR        
Schedule of Equity Method Investments [Line Items]        
Ownership interest (percent) 6.00% 6.00% 6.00%  
Grupo Aeromexico, LATAM, and Virgin Atlantic        
Schedule of Equity Method Investments [Line Items]        
Purchase of debt obligations $ 525      
Virgin Atlantic        
Schedule of Equity Method Investments [Line Items]        
Loan issued 275      
GOL        
Schedule of Equity Method Investments [Line Items]        
Loan issued     $ 250  
Collection of receivable     160  
LATAM        
Schedule of Equity Method Investments [Line Items]        
Carrying value of equity investment $ 0 $ 0    
Estimated ownership pending restructuring process (percent) 10.00% 10.00%    
Virgin Atlantic        
Schedule of Equity Method Investments [Line Items]        
Carrying value of equity investment $ 0 $ 0 $ 0  
Ownership interest (percent) 49.00% 49.00% 49.00%  
Impairments and equity method losses   $ 340    
Unrecognized equity method losses $ 130 $ 130    
Estimated ownership pending restructuring process (percent) 49.00% 49.00%    
Grupo Aeromexico        
Schedule of Equity Method Investments [Line Items]        
Carrying value of equity investment $ 0 $ 0    
Estimated ownership pending restructuring process (percent) 20.00% 20.00%    
Grupo Aeromexico, LATAM, and Virgin Atlantic        
Schedule of Equity Method Investments [Line Items]        
Estimated investment pending restructuring process $ 1,200 $ 1,200    
v3.22.0.1
Goodwill and Intangible Assets - Valuation of Goodwill and Indefinite-Lived Intangible (Details) - USD ($)
$ in Millions
Dec. 31, 2021
Dec. 31, 2020
Goodwill and indefinite-lived intangible assets    
Goodwill $ 9,753 $ 9,753
Goodwill and indefinite-lived intangible assets $ 15,671 15,671
Minimum    
Excess Fair Value at 2020 Testing Date    
Excess fair value, goodwill (greater than) 100.00%  
International routes and slots    
Goodwill and indefinite-lived intangible assets    
Indefinite-lived intangibles $ 2,583 2,583
International routes and slots | Minimum    
Excess Fair Value at 2020 Testing Date    
Excess fair value, indefinite-lived intangible assets 10.00%  
International routes and slots | Maximum    
Excess Fair Value at 2020 Testing Date    
Excess fair value, indefinite-lived intangible assets 30.00%  
Airline alliances    
Goodwill and indefinite-lived intangible assets    
Indefinite-lived intangibles $ 1,863 1,863
Airline alliances | Minimum    
Excess Fair Value at 2020 Testing Date    
Excess fair value, indefinite-lived intangible assets 20.00%  
Airline alliances | Maximum    
Excess Fair Value at 2020 Testing Date    
Excess fair value, indefinite-lived intangible assets (greater than) 100.00%  
Delta tradename    
Goodwill and indefinite-lived intangible assets    
Indefinite-lived intangibles $ 850 850
Excess Fair Value at 2020 Testing Date    
Excess fair value, indefinite-lived intangible assets (greater than) 100.00%  
Domestic slots    
Goodwill and indefinite-lived intangible assets    
Indefinite-lived intangibles $ 622 $ 622
Domestic slots | Minimum    
Excess Fair Value at 2020 Testing Date    
Excess fair value, indefinite-lived intangible assets 60.00%  
Domestic slots | Maximum    
Excess Fair Value at 2020 Testing Date    
Excess fair value, indefinite-lived intangible assets (greater than) 100.00%  
v3.22.0.1
Goodwill and Intangible Assets - Definite-Lived Intangible Assets (Details) - USD ($)
$ in Millions
Dec. 31, 2021
Dec. 31, 2020
Finite-Lived Intangible Assets    
Gross carrying value $ 976 $ 976
Accumulated amortization (893) (883)
Marketing agreements    
Finite-Lived Intangible Assets    
Gross carrying value 730 730
Accumulated amortization (700) (696)
Maintenance contracts    
Finite-Lived Intangible Assets    
Gross carrying value 193 193
Accumulated amortization (140) (134)
Other    
Finite-Lived Intangible Assets    
Gross carrying value 53 53
Accumulated amortization $ (53) $ (53)
v3.22.0.1
Goodwill and Intangible Assets - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Finite-Lived Intangible Assets      
Amortization expense $ 10 $ 10 $ 11
Estimated amortization expense in 2022 9    
Estimated amortization expense in 2023 9    
Estimated amortization expense in 2024 9    
Estimated amortization expense in 2025 9    
Estimated amortization expense in 2026 $ 9    
v3.22.0.1
Debt - Summary of Debt (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Debt Instrument [Line Items]    
Debt, gross $ 25,292 $ 28,214
Unamortized (discount)/premium and debt issuance cost, net and other (208) (240)
Total debt 25,084 27,974
Less: current maturities (1,502) (1,443)
Total long-term debt $ 23,582 26,531
Unsecured notes | Unsecured Debt    
Debt Instrument [Line Items]    
Maturity dates range, start Jan. 01, 2022  
Maturity dates range, end Dec. 31, 2029  
Debt, gross $ 4,354 5,350
Unsecured notes | Unsecured Debt | Minimum    
Debt Instrument [Line Items]    
Interest rate per annum (percent) 2.90%  
Unsecured notes | Unsecured Debt | Maximum    
Debt Instrument [Line Items]    
Interest rate per annum (percent) 7.38%  
Unsecured Payroll Support Program Loans | Unsecured Debt    
Debt Instrument [Line Items]    
Maturity dates range, start Jan. 01, 2030  
Maturity dates range, end Dec. 31, 2031  
Interest rate per annum (percent) 0.01%  
Debt, gross $ 3,496 1,648
SkyMiles Notes | Secured Debt    
Debt Instrument [Line Items]    
Maturity dates range, start Jan. 01, 2023  
Maturity dates range, end Dec. 31, 2028  
Debt, gross $ 6,000 6,000
SkyMiles Notes | Secured Debt | Minimum    
Debt Instrument [Line Items]    
Interest rate per annum (percent) 4.50%  
SkyMiles Notes | Secured Debt | Maximum    
Debt Instrument [Line Items]    
Interest rate per annum (percent) 4.75%  
SkyMiles Term Loan | Secured Debt    
Debt Instrument [Line Items]    
Maturity dates range, start Jan. 01, 2023  
Maturity dates range, end Dec. 31, 2027  
Interest rate per annum (percent) 4.75%  
Debt, gross $ 2,820 3,000
2020 Senior Secured Notes | Secured Debt    
Debt Instrument [Line Items]    
Maturity date Dec. 31, 2025  
Interest rate per annum (percent) 7.00%  
Debt, gross $ 2,589 3,500
2020 Term Loan | Secured Debt    
Debt Instrument [Line Items]    
Debt, gross $ 0 1,493
2018 Revolving Credit Facility | Revolving Credit Facility    
Debt Instrument [Line Items]    
Maturity dates range, start Jan. 01, 2023  
Maturity dates range, end Dec. 31, 2024  
Debt, gross $ 0 0
Financings secured by aircraft - Certificates | Secured Debt    
Debt Instrument [Line Items]    
Maturity dates range, start Jan. 01, 2022  
Maturity dates range, end Dec. 31, 2028  
Debt, gross $ 1,932 2,633
Financings secured by aircraft - Certificates | Secured Debt | Minimum    
Debt Instrument [Line Items]    
Interest rate per annum (percent) 2.00%  
Financings secured by aircraft - Certificates | Secured Debt | Maximum    
Debt Instrument [Line Items]    
Interest rate per annum (percent) 8.00%  
Financings secured by aircraft - Notes | Secured Debt    
Debt Instrument [Line Items]    
Maturity dates range, start Jan. 01, 2022  
Maturity dates range, end Dec. 31, 2033  
Debt, gross $ 1,139 1,284
Financings secured by aircraft - Notes | Secured Debt | Minimum    
Debt Instrument [Line Items]    
Interest rate per annum (percent) 0.79%  
Financings secured by aircraft - Notes | Secured Debt | Maximum    
Debt Instrument [Line Items]    
Interest rate per annum (percent) 5.75%  
NYTDC Special Facilities Revenue Bonds, Series 2020 | Bonds    
Debt Instrument [Line Items]    
Maturity dates range, start Jan. 01, 2026  
Maturity dates range, end Dec. 31, 2045  
Debt, gross $ 1,511 1,511
NYTDC Special Facilities Revenue Bonds, Series 2020 | Bonds | Minimum    
Debt Instrument [Line Items]    
Interest rate per annum (percent) 4.00%  
NYTDC Special Facilities Revenue Bonds, Series 2020 | Bonds | Maximum    
Debt Instrument [Line Items]    
Interest rate per annum (percent) 5.00%  
NYTDC Special Facilities Revenue Bonds, Series 2018 | Bonds    
Debt Instrument [Line Items]    
Maturity dates range, start Jan. 01, 2022  
Maturity dates range, end Dec. 31, 2036  
Debt, gross $ 1,383 1,383
NYTDC Special Facilities Revenue Bonds, Series 2018 | Bonds | Minimum    
Debt Instrument [Line Items]    
Interest rate per annum (percent) 4.00%  
NYTDC Special Facilities Revenue Bonds, Series 2018 | Bonds | Maximum    
Debt Instrument [Line Items]    
Interest rate per annum (percent) 5.00%  
Other financings | Secured and unsecured Debt    
Debt Instrument [Line Items]    
Maturity dates range, start Jan. 01, 2022  
Maturity dates range, end Dec. 31, 2030  
Debt, gross $ 68 412
Other financings | Secured and unsecured Debt | Minimum    
Debt Instrument [Line Items]    
Interest rate per annum (percent) 2.51%  
Other financings | Secured and unsecured Debt | Maximum    
Debt Instrument [Line Items]    
Interest rate per annum (percent) 8.00%  
Other revolving credit facilities | Revolving Credit Facility    
Debt Instrument [Line Items]    
Maturity dates range, start Jan. 01, 2022  
Maturity dates range, end Dec. 31, 2024  
Debt, gross $ 0 $ 0
v3.22.0.1
Debt - Payroll Support Program Activity (Details) - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 6 Months Ended 9 Months Ended 21 Months Ended
Jun. 30, 2021
Jun. 30, 2021
Dec. 31, 2020
Dec. 31, 2021
Payroll Support Program        
Payroll support program activity        
Total       $ 11,953
Grant       8,457
Payroll Support Program | Unsecured Debt | Payroll Support Program Loans        
Payroll support program activity        
Loan       $ 3,496
Payroll Support Program | PSP Warrants        
Payroll support program activity        
Number of Warrants       11.1
Percentage of Outstanding Shares       1.80%
PSP1        
Payroll support program activity        
Total     $ 5,594  
Grant     3,946  
PSP1 | Unsecured Debt | Payroll Support Program 1        
Payroll support program activity        
Loan     $ 1,648  
PSP1 | PSP1 Warrants        
Payroll support program activity        
Number of Warrants       6.8
Percentage of Outstanding Shares       1.10%
PSP2        
Payroll support program activity        
Total   $ 3,290    
Grant   2,333    
PSP2 | Unsecured Debt | Payroll Support Program Extension        
Payroll support program activity        
Loan   $ 957    
PSP2 | PSP2 Warrants        
Payroll support program activity        
Number of Warrants 2.4 2.4   2.4
Percentage of Outstanding Shares       0.40%
PSP3        
Payroll support program activity        
Total $ 3,069      
Grant 2,178      
PSP3 | Unsecured Debt | Payroll Support Program 3        
Payroll support program activity        
Loan $ 891      
PSP3 | PSP3 Warrants        
Payroll support program activity        
Number of Warrants 1.9 1.9   1.9
Percentage of Outstanding Shares       0.30%
v3.22.0.1
Debt - Narrative (Details) - USD ($)
$ / shares in Units, shares in Millions
 1 Months Ended 3 Months Ended 6 Months Ended 12 Months Ended 60 Months Ended
Feb. 28, 2022
Jul. 31, 2021
Jun. 30, 2021
Mar. 31, 2021
Dec. 31, 2021
Jun. 30, 2021
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Mar. 31, 2031
Dec. 31, 2030
Mar. 31, 2026
Dec. 31, 2025
Debt Instrument [Line Items]                          
Fair value         $ 26,900,000,000   $ 26,900,000,000 $ 29,800,000,000          
Government grant warrant issuance             86,000,000 114,000,000          
Aggregate cash tender offer for settlement of debt   $ 1,000,000,000                      
Loss on extinguishment of debt             319,000,000 8,000,000 $ 0        
Outstanding letters of credit that do not affect availability of revolvers         300,000,000   300,000,000            
Revolving Credit Facility                          
Debt Instrument [Line Items]                          
Proceeds from revolving credit facilities         2,900,000,000   2,900,000,000            
2020 Term Loan | Secured Debt                          
Debt Instrument [Line Items]                          
Total principal               $ 1,500,000,000          
Loss on extinguishment of debt       $ 56,000,000                  
EETC | Secured Debt                          
Debt Instrument [Line Items]                          
Repayment of debt     $ 450,000,000                    
Loss on extinguishment of debt     $ 26,000,000                    
2025 and 2026 Notes | Secured and unsecured debt                          
Debt Instrument [Line Items]                          
Loss on extinguishment of debt   $ 166,000,000                      
2025 Notes | Secured Debt                          
Debt Instrument [Line Items]                          
Interest rate per annum (percent)   7.00%                      
Principal amount of repurchased debt   $ 677,000,000                      
Payment for repurchase of debt   $ 800,000,000                      
2026 Notes | Unsecured Debt                          
Debt Instrument [Line Items]                          
Interest rate per annum (percent)   7.375%                      
Principal amount of repurchased debt   $ 169,000,000                      
Payment for repurchase of debt   $ 200,000,000                      
2025 SkyMiles Notes | Secured Debt                          
Debt Instrument [Line Items]                          
Interest rate per annum (percent)   4.50%                      
Certificates, Unsecured notes, and SkyMiles Term Loan | Secured and unsecured debt                          
Debt Instrument [Line Items]                          
Payment for repurchase of debt         647,000,000                
Loss on extinguishment of debt         71,000,000                
3.625% notes | Unsecured Debt | Forecast                          
Debt Instrument [Line Items]                          
Interest rate per annum (percent) 3.625%                        
Payment for repurchase of debt $ 1,000,000,000                        
SkyMiles program                          
Debt Instrument [Line Items]                          
Minimum liquidity covenant         2,000,000,000   2,000,000,000            
Aggregate limit on sale of pre-paid miles covenant         $ 550,000,000   $ 550,000,000            
PSP2                          
Debt Instrument [Line Items]                          
Proceeds from payroll support program           $ 3,290,000,000              
Grant payments received through payroll support program           $ 2,333,000,000              
PSP2 | PSP2 Warrants                          
Debt Instrument [Line Items]                          
Number shares called by warrants (in shares)     2.4   2.4 2.4 2.4            
Warrant exercise price (USD per share)     $ 39.73     $ 39.73              
Government grant warrant issuance           $ 52,000,000              
PSP2 | Payroll Support Program Extension | Unsecured Debt                          
Debt Instrument [Line Items]                          
Proceeds from unsecured loan           $ 957,000,000              
Debt instrument term           10 years              
Fair value     $ 905,000,000     $ 905,000,000              
PSP2 | Payroll Support Program Extension | Unsecured Debt | Forecast                          
Debt Instrument [Line Items]                          
Annual interest rate (percent)                         1.00%
PSP2 | Payroll Support Program Extension | Unsecured Debt | SOFR | Forecast                          
Debt Instrument [Line Items]                          
Margin on rate (percent)                     2.00%    
PSP3                          
Debt Instrument [Line Items]                          
Proceeds from payroll support program     3,069,000,000                    
Grant payments received through payroll support program     $ 2,178,000,000                    
PSP3 | PSP3 Warrants                          
Debt Instrument [Line Items]                          
Number shares called by warrants (in shares)     1.9   1.9 1.9 1.9            
Warrant exercise price (USD per share)     $ 47.80     $ 47.80              
Warrants term (in years)     5 years                    
Government grant warrant issuance     $ 34,000,000                    
PSP3 | Payroll Support Program 3 | Unsecured Debt                          
Debt Instrument [Line Items]                          
Proceeds from unsecured loan     $ 891,000,000                    
Debt instrument term     10 years                    
Fair value     $ 857,000,000     $ 857,000,000              
PSP3 | Payroll Support Program 3 | Unsecured Debt | Forecast                          
Debt Instrument [Line Items]                          
Annual interest rate (percent)                       1.00%  
PSP3 | Payroll Support Program 3 | Unsecured Debt | SOFR | Forecast                          
Debt Instrument [Line Items]                          
Margin on rate (percent)                   2.00%      
v3.22.0.1
Debt - Fair Value of Debt (Details) - USD ($)
$ in Millions
Dec. 31, 2021
Dec. 31, 2020
Debt Disclosure [Abstract]    
Net carrying amount $ 25,084 $ 27,974
Fair value $ 26,900 $ 29,800
v3.22.0.1
Debt - Future Maturities (Details) - USD ($)
$ in Millions
Dec. 31, 2021
Dec. 31, 2020
Total Debt    
2022 $ 1,483  
2023 2,516  
2024 3,094  
2025 4,215  
2026 3,051  
Thereafter 10,933  
Total 25,292 $ 28,214
Amortization of Debt (Discount)/Premium and Debt Issuance Cost, net and other    
2022 (54)  
2023 (60)  
2024 (61)  
2025 (39)  
2026 (8)  
Thereafter 14  
Total (208) (240)
Total debt $ 25,084 $ 27,974
v3.22.0.1
Leases - Narrative (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2021
USD ($)
transaction
lease
aircraft
airport
Lessee, Lease, Description [Line Items]  
Leases that have not yet commenced | $ $ 403
Aircraft sale leaseback  
Lessee, Lease, Description [Line Items]  
Sale leaseback transactions | $ $ 2,800
Number of aircraft in sale-leaseback transactions 85
Number of sale-leaseback transactions that did not qualify as sale | transaction 74
Number of sale-leaseback transactions that qualified as sale | transaction 11
Aircraft sale leaseback | A321-200  
Lessee, Lease, Description [Line Items]  
Number of aircraft in sale-leaseback transactions 25
Aircraft sale leaseback | A220-100  
Lessee, Lease, Description [Line Items]  
Number of aircraft in sale-leaseback transactions 25
Aircraft sale leaseback | CRJ-900  
Lessee, Lease, Description [Line Items]  
Number of aircraft in sale-leaseback transactions 23
Aircraft sale leaseback | B-737-900ER  
Lessee, Lease, Description [Line Items]  
Number of aircraft in sale-leaseback transactions 10
Aircraft sale leaseback | A330-900  
Lessee, Lease, Description [Line Items]  
Number of aircraft in sale-leaseback transactions 2
Minimum  
Lessee, Lease, Description [Line Items]  
Leases that have not yet commenced, term of contract 7 years
Maximum  
Lessee, Lease, Description [Line Items]  
Leases that have not yet commenced, term of contract 10 years
Aircraft  
Lessee, Lease, Description [Line Items]  
Number of leases | lease 290
Number of finance leases | lease 107
Number of operating leases | lease 183
Lease component of purchase agreements, number of aircraft 110
Aircraft | Minimum  
Lessee, Lease, Description [Line Items]  
Remaining term of finance leases 1 month
Remaining term of operating leases 1 month
Aircraft | Maximum  
Lessee, Lease, Description [Line Items]  
Remaining term of finance leases 14 years
Remaining term of operating leases 14 years
Airport Facilities  
Lessee, Lease, Description [Line Items]  
Number of airports with facility space under lease | airport 300
Airport Facilities | Minimum  
Lessee, Lease, Description [Line Items]  
Remaining term of operating leases 1 month
Airport Facilities | Maximum  
Lessee, Lease, Description [Line Items]  
Remaining term of operating leases 29 years
Other Ground Property and Equipment | Minimum  
Lessee, Lease, Description [Line Items]  
Remaining term of finance leases 1 month
Remaining term of operating leases 1 month
Other Ground Property and Equipment | Maximum  
Lessee, Lease, Description [Line Items]  
Remaining term of finance leases 8 years
Remaining term of operating leases 8 years
v3.22.0.1
Leases - Lease Position (Details) - USD ($)
$ in Millions
Dec. 31, 2021
Dec. 31, 2020
Assets    
Operating lease assets $ 7,237 $ 5,733
Finance lease assets 1,596 1,002
Total lease assets $ 8,833 $ 6,735
Finance lease asset, balance sheet Property and equipment, net of accumulated depreciation and amortization of $18,671 and $17,511 Property and equipment, net of accumulated depreciation and amortization of $18,671 and $17,511
Liabilities    
Current operating lease liabilities $ 703 $ 678
Current finance lease liabilities 280 289
Noncurrent operating lease liabilities 7,056 5,713
Noncurrent finance lease liabilities 1,556 894
Total lease liabilities $ 9,595 $ 7,574
Operating leases, weighted-average remaining lease term 13 years 12 years
Finance leases, weighted-average remaining lease term 6 years 5 years
Operating leases, weighted-average discount rate 3.81% 4.88%
Finance leases, weighted-average discount rate 3.36% 3.61%
Finance lease liability, current, balance sheet Current maturities of debt and finance leases Current maturities of debt and finance leases
Finance lease liability, noncurrent, balance sheet Debt and finance leases Debt and finance leases
v3.22.0.1
Leases - Lease Costs (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Lessee, Lease, Description [Line Items]      
Finance lease cost, amortization of leased assets $ 131 $ 131 $ 110
Finance lease cost, interest of lease liabilities 55 32 29
Operating lease cost 863 1,019 1,013
Short-term lease cost 245 264 500
Variable lease cost 1,599 1,406 1,456
Total lease cost 2,893 2,852 3,108
Regional carrier      
Lessee, Lease, Description [Line Items]      
Operating lease cost 111 187 174
Variable lease cost $ 29 $ 50 $ 64
v3.22.0.1
Leases - Other Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Leases [Abstract]      
Operating cash flows for operating leases $ 999 $ 1,053 $ 1,166
Operating cash flows for finance leases 46 32 27
Financing cash flows for finance leases $ 336 $ 255 $ 192
v3.22.0.1
Leases - Undiscounted Cash Flows (Details) - USD ($)
$ in Millions
Dec. 31, 2021
Dec. 31, 2020
Operating Leases    
2022 $ 944  
2023 974  
2024 894  
2025 866  
2026 766  
Thereafter 5,307  
Total minimum lease payments 9,751  
Less: amount of lease payments representing interest (1,992)  
Present value of future minimum lease payments 7,759  
Less: current obligations under leases (703) $ (678)
Noncurrent operating lease liabilities 7,056 5,713
Finance Leases    
2022 324  
2023 286  
2024 369  
2025 232  
2026 168  
Thereafter 636  
Total minimum lease payments 2,015  
Less: amount of lease payments representing interest (179)  
Present value of future minimum lease payments 1,836  
Less: current obligations under leases (280) (289)
Long-term lease obligations $ 1,556 $ 894
v3.22.0.1
Airport Redevelopment (Details) - USD ($)
$ in Millions
 1 Months Ended 12 Months Ended 60 Months Ended
Dec. 31, 2020
Dec. 31, 2021
Dec. 31, 2010
Dec. 31, 2021
Jan. 31, 2022
Dec. 31, 2017
Financial Guarantee | Revolving Credit Facility            
Agreements and Obligations [Line Items]            
Aggregate commitments guaranteed   $ 800   $ 800    
Financial Guarantee | Revolving Credit Facility | Subsequent event            
Agreements and Obligations [Line Items]            
Aggregate commitments guaranteed         $ 1,100  
JFK IAT Member LLC            
Agreements and Obligations [Line Items]            
Lease agreement, term     33 years      
Increase in lease obligation   1,200        
Port Authority            
Agreements and Obligations [Line Items]            
Special project bonds face amount     $ 800      
NYTDC            
Agreements and Obligations [Line Items]            
Special project bonds face amount $ 611          
JFK Terminal Redevelopment Project            
Agreements and Obligations [Line Items]            
Total expected project costs   1,500   1,500    
LAX Redevelopment Project            
Agreements and Obligations [Line Items]            
Total expected project costs   2,300   2,300    
Expected net projects costs   500   500    
Project costs reflected as investing cash flows       250    
Amount spent on project costs   487        
Project costs paid by credit facility   450        
Project costs paid by company   37        
LAX Redevelopment Project | City of Los Angeles            
Agreements and Obligations [Line Items]            
Total appropriation to date by city   1,800   1,800    
Maximum reimbursement by city   1,800   1,800    
LaGuardia Airport Redevelopment Project            
Agreements and Obligations [Line Items]            
Expected net projects costs   3,500   3,500    
Amount spent on project costs   $ 950   $ 2,500    
Port Authority contribution to redevelopment project           $ 500
v3.22.0.1
Employee Benefit Plans - Benefit Obligations, Fair Value of Plan Assets and Funded Status (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Pension Benefits      
Change in Benefit Obligation      
Benefit obligation at beginning of period $ 22,626 $ 21,199  
Service cost 0 0 $ 0
Interest cost 582 700 833
Actuarial (gain)/loss (851) 2,051  
Benefits paid, including lump sums and annuities (1,279) (1,233)  
Participant contributions 0 0  
Special termination benefits 0 0  
Settlements (5) (91)  
Benefit obligation at end of period 21,073 22,626 21,199
Change in Fair Value of Plan Assets      
Fair value of plan assets at beginning of period 16,541 15,845  
Actual gain on plan assets 2,732 1,973  
Employer contributions 1,513 47  
Participant contributions 0 0  
Benefits paid, including lump sums and annuities (1,279) (1,233)  
Settlements (5) (91)  
Fair value of plan assets at end of period 19,502 16,541 15,845
Funded Status of Plan      
Funded status at end of period (1,571) (6,085)  
Other Postretirement and Postemployment Benefits      
Change in Benefit Obligation      
Benefit obligation at beginning of period 4,766 3,379  
Service cost 86 96 83
Interest cost 117 120 137
Actuarial (gain)/loss 23 247  
Benefits paid, including lump sums and annuities (405) (356)  
Participant contributions 18 20  
Special termination benefits 0 1,260  
Settlements 0 0  
Benefit obligation at end of period 4,605 4,766 3,379
Change in Fair Value of Plan Assets      
Fair value of plan assets at beginning of period 496 607  
Actual gain on plan assets 57 76  
Employer contributions 192 189  
Participant contributions 18 20  
Benefits paid, including lump sums and annuities (406) (396)  
Settlements 0 0  
Fair value of plan assets at end of period 357 496 $ 607
Funded Status of Plan      
Funded status at end of period $ (4,248) $ (4,270)  
v3.22.0.1
Employee Benefit Plans - Balance Sheet Position (Details) - USD ($)
$ in Millions
Dec. 31, 2021
Dec. 31, 2020
Pension and Other Postretirement Defined Benefit Plans, Liabilities    
Noncurrent liabilities $ (6,035) $ (10,630)
Pension Benefits    
Pension and Other Postretirement Defined Benefit Plans, Liabilities    
Current liabilities (9) (10)
Noncurrent liabilities (1,562) (6,075)
Total liabilities (1,571) (6,085)
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, before Tax    
Net actuarial loss (7,462) (9,878)
Prior service credit 0 0
Total accumulated other comprehensive loss, pre-tax (7,462) (9,878)
Other Postretirement and Postemployment Benefits    
Pension and Other Postretirement Defined Benefit Plans, Liabilities    
Current liabilities (203) (143)
Noncurrent liabilities (4,045) (4,127)
Total liabilities (4,248) (4,270)
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, before Tax    
Net actuarial loss (831) (886)
Prior service credit 23 29
Total accumulated other comprehensive loss, pre-tax $ (808) $ (857)
v3.22.0.1
Employee Benefit Plans - Net Periodic (Benefit) Cost (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Pension Benefits      
Defined Benefit Plan Disclosure      
Service cost $ 0 $ 0 $ 0
Interest cost 582 700 833
Expected return on plan assets (1,522) (1,373) (1,186)
Amortization of prior service credit 0 0 0
Recognized net actuarial loss 354 300 291
Settlements 2 38 5
Special termination benefits 0 0 0
Net periodic (benefit) cost (584) (335) (57)
Other Postretirement and Postemployment Benefits      
Defined Benefit Plan Disclosure      
Service cost 86 96 83
Interest cost 117 120 137
Expected return on plan assets (34) (44) (47)
Amortization of prior service credit (6) (9) (9)
Recognized net actuarial loss 55 44 37
Settlements 0 0 0
Special termination benefits 0 1,260 0
Net periodic (benefit) cost $ 218 $ 1,467 $ 201
v3.22.0.1
Employee Benefit Plans - Assumptions Used to Determine Benefit Obligation and Net Periodic Benefit Cost (Details)
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Defined Benefit Plan Disclosure      
Weighted average discount rate (percent) 2.97% 2.62%  
Weighted average expected long-term rate of return on plan assets (percent) 8.98% 8.97% 8.97%
Assumed healthcare cost trend rate for the next year (percent) 6.25% 6.25% 6.50%
Ultimate healthcare cost trend rate (percent) 5.00%    
Pension Benefits      
Defined Benefit Plan Disclosure      
Weighted average discount rate (percent) 2.65% 3.40% 4.33%
Other Postretirement Benefits      
Defined Benefit Plan Disclosure      
Weighted average discount rate (percent) 2.43% 3.47% 4.32%
Other Postemployment Benefits      
Defined Benefit Plan Disclosure      
Weighted average discount rate (percent) 2.55% 3.34% 4.32%
v3.22.0.1
Employee Benefit Plans - Expected Benefit Payments (Details)
$ in Millions
Dec. 31, 2021
USD ($)
Pension Benefits  
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity  
2022 $ 1,290
2023 1,280
2024 1,270
2025 1,270
2026 1,260
2027-2031 6,110
Other Postretirement and Postemployment Benefits  
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity  
2022 420
2023 460
2024 460
2025 460
2026 460
2027-2031 $ 2,160
v3.22.0.1
Employee Benefit Plans - Benefit Plan Assets Measured at Fair Value on Recurring Basis (Details) - Recurring - USD ($)
$ in Millions
Dec. 31, 2021
Dec. 31, 2020
Benefit plan assets by asset class    
Benefit plan assets $ 20,046 $ 16,600
Level 1 and Level 2    
Benefit plan assets by asset class    
Benefit plan assets 7,393 6,173
Level 1 and Level 2 | Cash equivalents    
Benefit plan assets by asset class    
Benefit plan assets 4,487 3,664
Level 1 and Level 2 | Equities and equity-related instruments    
Benefit plan assets by asset class    
Benefit plan assets 1,195 1,120
Level 1 and Level 2 | Fixed income and fixed income-related instruments    
Benefit plan assets by asset class    
Benefit plan assets 1,048 882
Level 1 and Level 2 | Delta common stock    
Benefit plan assets by asset class    
Benefit plan assets 407 507
Level 1 and Level 2 | Real assets    
Benefit plan assets by asset class    
Benefit plan assets 256 0
Level 1    
Benefit plan assets by asset class    
Benefit plan assets 3,900 1,873
Level 1 | Cash equivalents    
Benefit plan assets by asset class    
Benefit plan assets 2,390 305
Level 1 | Equities and equity-related instruments    
Benefit plan assets by asset class    
Benefit plan assets 1,034 1,061
Level 1 | Fixed income and fixed income-related instruments    
Benefit plan assets by asset class    
Benefit plan assets 69 0
Level 1 | Delta common stock    
Benefit plan assets by asset class    
Benefit plan assets 407 507
Level 1 | Real assets    
Benefit plan assets by asset class    
Benefit plan assets 0 0
Level 2    
Benefit plan assets by asset class    
Benefit plan assets 3,493 4,300
Level 2 | Cash equivalents    
Benefit plan assets by asset class    
Benefit plan assets 2,097 3,359
Level 2 | Equities and equity-related instruments    
Benefit plan assets by asset class    
Benefit plan assets 161 59
Level 2 | Fixed income and fixed income-related instruments    
Benefit plan assets by asset class    
Benefit plan assets 979 882
Level 2 | Delta common stock    
Benefit plan assets by asset class    
Benefit plan assets 0 0
Level 2 | Real assets    
Benefit plan assets by asset class    
Benefit plan assets 256 0
NAV    
Benefit plan assets by asset class    
Benefit plan assets $ 12,653 $ 10,427
v3.22.0.1
Employee Benefit Plans - Investments Measured at NAV (Details) - NAV - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Investments measured at NAV    
Fair value of investment measured at NAV $ 12,653 $ 10,427
Hedge funds and hedge fund-related strategies    
Investments measured at NAV    
Fair value of investment measured at NAV $ 7,563 $ 5,474
Hedge funds and hedge fund-related strategies | Minimum    
Investments measured at NAV    
Redemption notice period 2 days 2 days
Hedge funds and hedge fund-related strategies | Maximum    
Investments measured at NAV    
Redemption notice period 180 days 180 days
Commingled funds, private equity and private equity-related instruments    
Investments measured at NAV    
Fair value of investment measured at NAV $ 2,228 $ 2,136
Unfunded commitments $ 1,000  
Commingled funds, private equity and private equity-related instruments | Minimum    
Investments measured at NAV    
Redemption notice period 3 days 3 days
Commingled funds, private equity and private equity-related instruments | Maximum    
Investments measured at NAV    
Redemption notice period 45 days 30 days
Fixed income and fixed income-related instruments    
Investments measured at NAV    
Fair value of investment measured at NAV $ 877 $ 1,118
Unfunded commitments $ 259  
Fixed income and fixed income-related instruments | Minimum    
Investments measured at NAV    
Redemption notice period 65 days 15 days
Fixed income and fixed income-related instruments | Maximum    
Investments measured at NAV    
Redemption notice period 90 days 90 days
Real assets    
Investments measured at NAV    
Fair value of investment measured at NAV $ 773 $ 671
Unfunded commitments 386  
Other    
Investments measured at NAV    
Fair value of investment measured at NAV $ 1,212 $ 1,028
Other | Minimum    
Investments measured at NAV    
Redemption notice period 2 days 2 days
Other | Maximum    
Investments measured at NAV    
Redemption notice period 10 days 90 days
v3.22.0.1
Employee Benefit Plans - Narrative (Details)
employee in Thousands
 12 Months Ended
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
employee
Dec. 31, 2019
USD ($)
Defined Benefit Plan Disclosure      
Discount rate for 17-year amortization period of unfunded liability for frozen defined benefit plan (percent) 8.85%    
Estimated funding by employer in next fiscal year $ 0    
Defined contribution plan costs $ 875,000,000 $ 805,000,000 $ 1,000,000,000
Assumed healthcare plan pre age 65 years    
Assumed healthcare plan post age 65 years    
Weighted average expected long-term rate of return on plan assets (percent) 8.98% 8.97% 8.97%
Restructuring charges $ (19,000,000) $ 8,219,000,000 $ 0
Profit sharing 108,000,000 $ 0 1,643,000,000
Voluntary early retirement and separation programs      
Defined Benefit Plan Disclosure      
Number of employees participating | employee   18  
Restructuring charges   $ 3,400,000,000  
Voluntary early retirement and separation programs | Special termination benefits      
Defined Benefit Plan Disclosure      
Special termination benefit charge   1,300,000,000  
Voluntary early retirement and separation programs | Separation payments and healthcare benefits      
Defined Benefit Plan Disclosure      
Cash payments disbursed to participants 575,000,000 720,000,000  
Voluntary early retirement and separation programs | Unpaid vacation and other benefits      
Defined Benefit Plan Disclosure      
Cash payments disbursed to participants   250,000,000  
Other Postretirement and Postemployment Benefits      
Defined Benefit Plan Disclosure      
Special termination benefit charge 0 1,260,000,000 $ 0
Special termination benefits $ 0 $ 1,260,000,000  
Growth-seeking assets | Minimum      
Defined Benefit Plan Disclosure      
Plan assets, target allocations (percent) 30.00%    
Growth-seeking assets | Maximum      
Defined Benefit Plan Disclosure      
Plan assets, target allocations (percent) 50.00%    
Income-generating assets | Minimum      
Defined Benefit Plan Disclosure      
Plan assets, target allocations (percent) 25.00%    
Income-generating assets | Maximum      
Defined Benefit Plan Disclosure      
Plan assets, target allocations (percent) 35.00%    
Risk-diversifying assets | Minimum      
Defined Benefit Plan Disclosure      
Plan assets, target allocations (percent) 30.00%    
Risk-diversifying assets | Maximum      
Defined Benefit Plan Disclosure      
Plan assets, target allocations (percent) 40.00%    
v3.22.0.1
Commitments and Contingencies - Aircraft Purchase Commitments and Contract Carrier Minimum Obligations (Details)
$ in Millions
Dec. 31, 2021
USD ($)
Aircraft purchase commitments  
Future commitments:  
2022 $ 3,700
2023 3,040
2024 3,290
2025 2,880
2026 2,340
Thereafter 920
Total 16,170
Capacity purchase agreements  
Future commitments:  
2022 1,513
2023 1,515
2024 1,488
2025 1,521
2026 1,554
Thereafter 4,141
Total $ 11,732
v3.22.0.1
Commitments and Contingencies - Aircraft Purchase Commitments by Fleet Type (Details) - Aircraft purchase commitments
Dec. 31, 2021
aircraft
Future Purchase Commitments  
Aircraft purchase commitments, minimum quantity required 264
A220-100  
Future Purchase Commitments  
Aircraft purchase commitments, minimum quantity required 4
A220-300  
Future Purchase Commitments  
Aircraft purchase commitments, minimum quantity required 40
A321-200neo  
Future Purchase Commitments  
Aircraft purchase commitments, minimum quantity required 155
A330-900neo  
Future Purchase Commitments  
Aircraft purchase commitments, minimum quantity required 26
A350-900  
Future Purchase Commitments  
Aircraft purchase commitments, minimum quantity required 20
B-737-900ER  
Future Purchase Commitments  
Aircraft purchase commitments, minimum quantity required 19
v3.22.0.1
Commitments and Contingencies - Narrative (Details) - Future aircraft purchase commitments
$ in Millions
 12 Months Ended
Dec. 31, 2021
USD ($)
aircraft
Future Purchase Commitments  
Future aircraft purchase commitments | $ $ 16,170
A321neo  
Future Purchase Commitments  
Number of aircraft with options converted to firm order 55
Number of options replenished 25
A350-900  
Future Purchase Commitments  
Number of aircraft for which delivery date has been accelerated 2
Number aircraft related to lease commitments entered 9
A330-900neo  
Future Purchase Commitments  
Number of aircraft for which delivery date has been accelerated 1
B-737-900ER  
Future Purchase Commitments  
Number of aircraft per agreement 29
v3.22.0.1
Commitments and Contingencies - Employees Under Collective Bargaining Agreements (Details)
Dec. 31, 2021
employee
Other Commitments [Line Items]  
Approximate number of employees 83,000
Delta Pilots - Represented by Unions  
Other Commitments [Line Items]  
Approximate number of employees 13,180
Delta Flight Superintendents (Dispatchers) - Represented by Unions  
Other Commitments [Line Items]  
Approximate number of employees 380
Endeavor Air Pilots - Represented by Unions  
Other Commitments [Line Items]  
Approximate number of employees 1,900
Endeavor Air Flight Attendants - Represented by Unions  
Other Commitments [Line Items]  
Approximate number of employees 1,480
v3.22.0.1
Commitments and Contingencies - Employees Under Collective Bargaining Agreements Narrative (Details)
Dec. 31, 2021
employee
Other Commitments [Line Items]  
Approximate number of employees 83,000
Percentage of employees represented by unions under collective bargaining agreements 20.00%
Monroe refinery employees represented by United Steel Workers  
Other Commitments [Line Items]  
Approximate number of employees 180
v3.22.0.1
Income Taxes - Components of Income Tax Benefit (Provision) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Current tax (provision) benefit:      
Federal $ 0 $ 94 $ 94
State and local (1) 3 (39)
International (3) (5) (13)
Deferred tax (provision) benefit:      
Federal (130) 2,766 (1,343)
State and local 16 344 (130)
Income tax provision $ (118) $ 3,202 $ (1,431)
v3.22.0.1
Income Taxes - Effective Income Tax Rate Reconciliation (Details)
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Effective Income Tax Rate Reconciliation, Percent      
U.S. federal statutory income tax rate 21.00% 21.00% 21.00%
State taxes, net of federal benefit (4.40%) 1.90% 2.30%
Permanent differences 4.90% (0.60%) (0.30%)
Valuation allowance 9.10% (2.60%) 0.70%
Other (0.80%) 0.80% (0.60%)
Effective income tax rate 29.80% 20.50% 23.10%
v3.22.0.1
Income Taxes - Deferred Taxes (Details) - USD ($)
$ in Millions
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Deferred tax assets:      
Net operating loss carryforwards $ 1,301 $ 1,495  
Capital loss carryforward 480 483  
Pension, postretirement and other benefits 2,089 2,956  
Investments 314 0  
Deferred revenue 2,288 1,929  
Lease liabilities 2,452 2,185  
Other 494 479  
Valuation allowance (833) (460) $ (58)
Total deferred tax assets 8,585 9,067  
Deferred tax liabilities:      
Depreciation 4,463 4,507  
Operating lease assets 1,676 1,324  
Intangible assets 1,097 1,076  
Other 55 172  
Total deferred tax liabilities 7,291 7,079  
Net deferred tax assets $ 1,294 $ 1,988  
v3.22.0.1
Income Taxes - Narrative (Details) - USD ($)
$ in Millions
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Income Tax Disclosure [Abstract]      
Net deferred tax asset $ 1,294 $ 1,988  
Valuation allowance 833 $ 460 $ 58
U.S. federal      
Income Taxes      
Operating loss carryforwards 4,800    
Operating loss carryforwards beginning to expire in 2029 $ 1,100    
v3.22.0.1
Income Taxes - Valuation Allowance (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Valuation allowance activity    
Valuation allowance, beginning $ 460 $ 58
Tax provision 26 402
Equity investment activity 347 0
Valuation allowance, ending $ 833 $ 460
v3.22.0.1
Equity and Equity Compensation - Narrative (Details) - USD ($)
$ / shares in Units, $ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Class of Stock [Line Items]        
Capital stock, shares authorized (shares) 2,000,000,000      
Common stock, authorized (shares) 1,500,000,000 1,500,000,000    
Common stock, par value (USD per share) $ 0.0001 $ 0.0001    
Preferred stock, shares authorized (shares) 500,000,000      
Treasury stock weighted average cost per share (USD per share) $ 28.87 $ 28.23    
Number of shares authorized for issuance under the Plan (shares) 163,000,000      
Shares available for future grant 19,000,000      
Equity compensation expense $ 149 $ 119 $ 161  
Compensation cost not yet recognized $ 77      
Outstanding stock option awards (shares) 6,200,000 5,400,000 3,900,000 2,500,000
Weighted average exercise price of options outstanding (USD per share) $ 50.41 $ 52.37 $ 49.57 $ 48.99
Number of exercisable stock option awards (shares) 3,300,000      
Restricted stock awards        
Class of Stock [Line Items]        
Unvested restricted stock awards (shares) 2,900,000 2,200,000 2,600,000 2,400,000
Stock options        
Class of Stock [Line Items]        
Term of award (in years) 10 years      
Performance awards        
Class of Stock [Line Items]        
Shares available for future grant 1,500,000 2,200,000 1,400,000  
Performance period (in years) 3 years      
Performance awards | Minimum        
Class of Stock [Line Items]        
Potential performance award payments as percentage of target level 0.00%      
Performance awards | Maximum        
Class of Stock [Line Items]        
Potential performance award payments as percentage of target level 200.00%      
PSP Warrants | Payroll Support Program        
Class of Stock [Line Items]        
Number shares called by warrants (in shares) 11,100,000      
v3.22.0.1
Equity and Equity Compensation - Restricted Stock Award Activity (Details) - Restricted Stock - $ / shares
shares in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Restricted Stock      
Outstanding, beginning (in shares) 2.2 2.6 2.4
Granted (in shares) 2.3 1.4 1.8
Vested (in shares) (1.4) (1.6) (1.5)
Forfeited (in shares) (0.2) (0.2) (0.1)
Outstanding, ending (in shares) 2.9 2.2 2.6
Restricted Stock, Weighted-Average Grant Price      
Outstanding, beginning (USD per share) $ 54.06 $ 51.28 $ 49.24
Granted (USD per share) 39.93 56.84 51.75
Vested (USD per share) 51.15 51.95 48.65
Forfeited (USD per share) 44.01 56.11 50.78
Outstanding, ending (USD per share) $ 45.66 $ 54.06 $ 51.28
v3.22.0.1
Equity and Equity Compensation - Stock Option Activity (Details) - $ / shares
shares in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Stock Options      
Outstanding, beginning (in shares) 5.4 3.9 2.5
Granted (in shares) 1.0 1.6 1.4
Exercised (in shares) 0.0 (0.1) 0.0
Forfeited (in shares) (0.2) 0.0 0.0
Outstanding, ending (in shares) 6.2 5.4 3.9
Stock Options, Weighted-Average Grant Price      
Outstanding, beginning (USD per share) $ 52.37 $ 49.57 $ 48.99
Granted (USD per share) 39.78 58.89 50.52
Exercised (USD per share) 0 44.05 0
Forfeited (USD per share) 49.61 0 0
Outstanding, ending (USD per share) $ 50.41 $ 52.37 $ 49.57
v3.22.0.1
Accumulated Other Comprehensive Loss (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
AOCI Attributable to Parent, Net of Tax      
Beginning balance $ 1,534 $ 15,358 $ 13,687
Changes in value (net of tax effect) 1,593 (1,252) (415)
Changes in value, tax effect 484 (384) (133)
Reclassification into earnings (net of tax effect) 315 203 251
Reclassifications into earnings, tax effect 96 169 76
Ending balance 3,887 1,534 15,358
Deferred income tax expense in AOCI that will not be recognized until obligation is fully extinguished 760 760 760
Tax benefit (118) 3,202 (1,431)
Accumulated Other Comprehensive Loss      
AOCI Attributable to Parent, Net of Tax      
Beginning balance (9,038) (7,989) (7,825)
Beginning balance, tax effect (1,764) (1,549) (1,492)
Ending balance (7,130) (9,038) (7,989)
Ending balance, tax effect (1,184) (1,764) (1,549)
Pension and Other Benefits Liabilities      
AOCI Attributable to Parent, Net of Tax      
Beginning balance (9,078) (8,095) (7,925)
Changes in value (net of tax effect) 1,593 (1,269) (422)
Reclassification into earnings (net of tax effect) 315 286 252
Ending balance (7,170) (9,078) (8,095)
Other      
AOCI Attributable to Parent, Net of Tax      
Beginning balance 40 106 100
Changes in value (net of tax effect) 0 17 7
Reclassification into earnings (net of tax effect) 0 (83) (1)
Ending balance $ 40 40 $ 106
Other | Reclassification out of AOCI      
AOCI Attributable to Parent, Net of Tax      
Tax benefit   $ 83  
v3.22.0.1
Segments - Narrative (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2021
USD ($)
segment
Dec. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
Business Acquisition [Line Items]      
Number of operating segments | segment 2    
Operating revenue $ 29,899 $ 17,095 $ 47,007
Intersegment Sales/Other | Exchanged products      
Business Acquisition [Line Items]      
Operating revenue $ (2,293) $ (1,472) $ (3,963)
v3.22.0.1
Segments - Segment Reporting (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Segment Reporting Information, Profit (Loss)      
Operating revenue $ 29,899 $ 17,095 $ 47,007
Operating income (loss) 1,886 (12,469) 6,618
Interest expense (income), net 1,279 929 301
Depreciation and amortization 1,998 2,312 2,581
Restructuring charges (19) 8,219 0
Total assets 72,459 71,996 64,532
Net fair value obligations, end of period (497) (156) (4)
Capital expenditures 3,247 1,899 4,936
Fair value of obligation (593) (172) (58)
Fair value of asset component 96 16 54
Operating Segments | Airline      
Segment Reporting Information, Profit (Loss)      
Operating revenue 26,670 15,945 46,910
Operating income (loss) 1,888 (12,253) 6,542
Interest expense (income), net 1,272 928 327
Depreciation and amortization 1,998 2,312 2,581
Restructuring charges (19) 8,219  
Total assets 70,360 70,548 62,793
Net fair value obligations, end of period 0 0 0
Capital expenditures 3,188 1,879 4,880
Operating Segments | Refinery      
Segment Reporting Information, Profit (Loss)      
Operating revenue 6,054 3,143 5,558
Operating income (loss) (2) (216) 76
Interest expense (income), net 7 1 (26)
Depreciation and amortization 95 99 99
Restructuring charges 0 0  
Total assets 2,099 1,448 1,739
Net fair value obligations, end of period (497) (156) (4)
Capital expenditures 59 20 56
Intersegment Sales/Other      
Segment Reporting Information, Profit (Loss)      
Depreciation and amortization (95) (99) (99)
Intersegment Sales/Other | Sales to airline segment      
Segment Reporting Information, Profit (Loss)      
Operating revenue (492) (214) (1,103)
Intersegment Sales/Other | Exchanged products      
Segment Reporting Information, Profit (Loss)      
Operating revenue (2,293) (1,472) (3,963)
Intersegment Sales/Other | Sales of refined products      
Segment Reporting Information, Profit (Loss)      
Operating revenue $ (40) $ (307) $ (395)
v3.22.0.1
Restructuring - Charges by Category (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Restructuring Cost and Reserve [Line Items]      
Total Restructuring Charges $ (19) $ 8,219 $ 0
Fleet Retirements      
Restructuring Cost and Reserve [Line Items]      
Total Restructuring Charges   4,409  
Voluntary Programs and Other Employee Benefit Charges      
Restructuring Cost and Reserve [Line Items]      
Total Restructuring Charges   3,409  
Receivables and Other      
Restructuring Cost and Reserve [Line Items]      
Total Restructuring Charges   $ 401  
v3.22.0.1
Restructuring - Fleet Retirements by Aircraft Type (Details)
$ in Millions
 3 Months Ended 12 Months Ended
Mar. 31, 2020
USD ($)
Dec. 31, 2020
USD ($)
aircraft
Fleet retirement by aircraft type    
Number of aircraft | aircraft   383
Impairment-related charge   $ 4,409
777    
Fleet retirement by aircraft type    
Number of aircraft | aircraft   18
Impairment-related charge   $ 1,440
767-300ER    
Fleet retirement by aircraft type    
Number of aircraft | aircraft   56
Impairment-related charge   $ 1,084
717    
Fleet retirement by aircraft type    
Number of aircraft | aircraft   91
Impairment-related charge   $ 950
MD-90    
Fleet retirement by aircraft type    
Number of aircraft | aircraft   26
Impairment-related charge   $ 335
CRJ-200    
Fleet retirement by aircraft type    
Number of aircraft | aircraft   125
Impairment-related charge   $ 320
737-700    
Fleet retirement by aircraft type    
Number of aircraft | aircraft   10
Impairment-related charge   $ 223
A320    
Fleet retirement by aircraft type    
Number of aircraft | aircraft   10
Impairment-related charge   $ 57
MD-88    
Fleet retirement by aircraft type    
Number of aircraft | aircraft   47
Impairment-related charge   $ 0
Charge related to acceleration of planned retirement $ 22  
v3.22.0.1
Restructuring - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Impact Of Global Pandemic [Line Items]      
Restructuring charges $ (19) $ 8,219 $ 0
Retired aircraft      
Impact Of Global Pandemic [Line Items]      
Cumulative net book value of retired aircraft $ 340 500  
Voluntary early retirement and separation programs      
Impact Of Global Pandemic [Line Items]      
Restructuring charges   3,400  
Voluntary early retirement and separation programs | Special termination benefits      
Impact Of Global Pandemic [Line Items]      
Special termination benefits   1,300  
Reserve against outstanding receivables from LATAM, Grupo Aeromexico, GOL, Virgin Atlantic and others      
Impact Of Global Pandemic [Line Items]      
Reserves against outstanding receivables   $ 100  
v3.22.0.1
Earnings /(Loss) Per Share (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Earnings Per Share [Abstract]      
Net income/(loss) $ 280 $ (12,385) $ 4,767
Basic weighted average shares outstanding (shares) 636 636 651
Dilutive effect of share-based awards (shares) 5 0 2
Diluted weighted average shares outstanding (shares) 641 636 653
Basic earnings (loss) per share (USD per share) $ 0.44 $ (19.49) $ 7.32
Diluted earnings (loss) per share (USD per share) $ 0.44 $ (19.49) $ 7.30