Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Millions |
Jun. 30, 2020 |
Dec. 31, 2019 |
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| Current Assets: | ||
| Allowance for uncollectible accounts | $ 121 | $ 13 |
| Allowance for obsolescence | 135 | 82 |
| Noncurrent Assets: | ||
| Accumulated depreciation and amortization | 17,267 | 17,027 |
| Accumulated amortization | $ 878 | $ 873 |
| 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) | 647,454,215 | 651,731,443 |
| Treasury stock, at cost (shares) | 9,597,469 | 8,959,730 |
Consolidated Statements of Stockholders' Equity (Unaudited) (Parenthetical) - $ / shares |
3 Months Ended | |||
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Jun. 30, 2020 |
Mar. 31, 2020 |
Jun. 30, 2019 |
Mar. 31, 2019 |
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| Statement of Stockholders' Equity [Abstract] | ||||
| Treasury shares withheld for payment of taxes, weighted average price per share (USD per share) | $ 25.56 | $ 56.48 | $ 55.06 | $ 49.75 |
Summary of Significant Accounting Policies |
6 Months Ended |
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Jun. 30, 2020 | |
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
| Summary of Significant Accounting Policies | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited Condensed 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 United States ("GAAP") for interim financial information. Consistent with these requirements, this Form 10-Q does not include all the information required by GAAP for complete financial statements. As a result, this Form 10-Q should be read in conjunction with the Consolidated Financial Statements and accompanying Notes in our Form 10-K for the year ended December 31, 2019. Management believes the accompanying unaudited Condensed Consolidated Financial Statements reflect all adjustments, including normal recurring items, considered necessary for a fair statement of results for the interim periods presented. Due to severe impacts from the global COVID-19 (coronavirus) pandemic, seasonal variations in the demand for air travel, the volatility of aircraft fuel prices and other factors, operating results for the three and six months ended June 30, 2020 are not necessarily indicative of operating results for the entire year. We 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. Recent Accounting Standards Credit Losses. In 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-13, "Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments." Under this ASU, an entity is required to utilize an "expected credit loss model" on certain financial instruments, including trade and financing receivables. This model requires consideration of a broader range of reasonable and supportable information and requires an entity to estimate expected credit losses over the lifetime of the asset. We adopted this standard effective January 1, 2020 and due to the COVID-19 pandemic, we recorded reserves on certain receivables, which are discussed further in Note 5, "Investments."
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Impact of the COVID-19 Pandemic |
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| Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Impact of the COVID-19 Pandemic | IMPACT OF THE COVID-19 PANDEMIC The unprecedented and rapid spread of COVID-19 and the related travel restrictions and social distancing measures implemented throughout the world have significantly reduced demand for air travel. After initially impacting our service to China beginning in January, the spread of the virus and the resulting global pandemic next affected the majority of our international network and ultimately has significantly affected our domestic network. Beginning in March, large public events were cancelled, governmental authorities began imposing restrictions on non-essential activities, businesses suspended travel and popular leisure destinations temporarily closed to visitors. Certain countries that are key markets for our business have imposed bans on international travelers for specified periods or indefinitely. As a result, demand for travel declined at a rapid pace and has remained depressed, which has had an unprecedented and materially adverse impact on our revenues and financial position. Although demand improved through the quarter, it remains significantly below the prior year. The exact timing and pace of the recovery are uncertain as certain markets have reopened, some of which have since experienced a resurgence of COVID-19 cases, while others, particularly international markets, remain closed or are enforcing extended quarantines for most U.S. residents. Additionally, some states have instituted travel restrictions or advisories for travelers from other states. Our forecasted expense and liquidity management initiatives may be modified as the demand environment evolves. In response to these developments, beginning in March and continuing throughout the June 2020 quarter, we have 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. Taking Care of our Customers and Employees. The safety of our customers and employees is our primary focus. As the COVID-19 pandemic has progressed, we have taken numerous steps to help promote the safety of our customers and employees on the ground and in the air in keeping with current health-expert recommendations, including: •Adopting new cleaning procedures on all flights, including disinfectant electrostatic spraying on aircraft and sanitizing high-touch areas like tray tables, entertainment screens, armrests and seat-back pockets before each flight. •Taking steps to help employees and customers practice social distancing and promote safety, including: ◦Creating a Global Cleanliness Division to ensure a consistently safe and sanitized experience across our facilities and aircraft. ◦Requiring all customers and customer-facing employees to wear masks. ◦Blocking middle seats and capping load factor at 60% throughout our aircraft through at least September 30, 2020. ◦Modifying our boarding and deplaning processes, while providing food and beverage service that is designed to reduce physical touch points. ◦Installing plexiglass shields at all Delta check-in counters, Delta Sky Clubs and gate counters across the U.S. as well as adding social distance markers in the check-in lobby, Delta Sky Clubs, at the gate and throughout the jetbridge. ◦Implementing significant workforce social distancing and protection measures, including reconfiguring call center spaces to promote social distancing, increasing cleaning and disinfecting of our facilities and having virtually all employees who can telecommute do so. •Giving customers flexibility to plan, re-book and travel including extending expiration on travel credits through September 2022. Additionally, we are extending 2020 Medallion Status an additional year, rolling Medallion Qualification Miles into 2021 and extending Delta SkyMiles American Express Card benefits and Delta Sky Club memberships. •Offering pay protection to employees who have been diagnosed with COVID-19, who must quarantine due to exposure to COVID-19 or who have self-identified as being at high-risk for illness from COVID-19 according to the Centers for Disease Control and Prevention ("CDC") guidelines and do not have the ability to telecommute (through July 31 for high-risk individuals). •Beginning in June 2020, onsite COVID-19 testing became available for employees in select Delta hubs. Testing began in our Atlanta and Minneapolis hubs and is expanding through the September 2020 quarter, with the expectation that all employees will be tested. Capacity Reductions. Beginning in the second half of March, we experienced a precipitous decrease in demand as COVID-19 spread throughout the world. We significantly reduced our system capacity to a level that maintained essential services to align capacity with expected demand. For the June 2020 quarter, system capacity was reduced 85% compared to the June 2019 quarter, with international capacity reduced by 94% and domestic flying reduced by 80%. For the September 2020 quarter, system capacity is expected to be down approximately 60% compared to the September 2019 quarter, with international capacity to be reduced approximately 80% and domestic capacity to be reduced approximately 50%. As a result of reduced demand expectations and lower capacity in the September 2020 quarter and beyond, we have parked approximately 50% of our fleet, including the permanent retirement of certain aircraft, as discussed further below. Expense Management. In response to the reduction in revenue, we have implemented, and will continue to implement, cost saving initiatives, including: •Reducing capacity as described above to align with expected demand, which has resulted in parking approximately 600 aircraft as of June 30, 2020. In the June 2020 quarter we retired our MD-90 fleet, seven 767-300ER aircraft and 10 A320 aircraft and will retire our 777 and 737-700 fleets by October 2020. These retirement decisions follow the March 2020 quarter decision to accelerate the retirement of our MD-88 fleet from December 2020 to June 2020. •Consolidating our footprint at our airport facilities, including temporarily closing most Delta Sky Clubs. •Reducing employee-related costs, including: ◦Voluntary unpaid leaves of 30 days to 12 months offered to most employees. Approximately 45,000 of our employees have taken or have volunteered to take voluntary leaves. ◦Offering employees early retirement and voluntary separation programs, with most departures scheduled for August 1, 2020. The enrollment period for these programs will close in July 2020. See Note 8, "Employee Benefit Plans," for additional information. ▪Pilots are also eligible for an early retirement program, however, separation dates will be based on training and staffing requirements. ◦Salary reductions of 50% for our officers and, with respect to our director level employees through the June 2020 quarter, 25%. Beginning in the September 2020 quarter, a 25% reduction in work hours has been implemented for our director level employees, consistent with the 25% reduction in work hours for all other management and most front-line employee work groups. ◦Instituting a company-wide hiring freeze. •Delaying non-essential maintenance projects and eliminating nearly all other discretionary spending. Balance Sheet, Cash Flow and Liquidity. Our cash, cash equivalents, short-term investments and aggregate principal amount committed and available to be drawn under our revolving credit facilities balance ("liquidity") as of June 30, 2020 was $15.7 billion as a result of the following actions to increase liquidity and strength our financial position during the six months ended June 30, 2020: •Reducing planned capital expenditures by approximately $3.5 billion for the year, including working with original equipment manufacturers ("OEM") to optimize the timing of our future aircraft deliveries, delaying aircraft modifications and postponing certain information technology initiatives and replacement of ground equipment. •Receiving $4.9 billion as part of the CARES Act payroll support program as described below. •Obtaining financing through the following actions: ◦Drawing $3.0 billion from our previously undrawn revolving credit facilities. We have extended the maturity for $1.3 billion of these borrowings from April 2021 to April 2022 and also secured $2.7 billion of these borrowings with our Pacific route authorities and certain related assets. ◦Entering into a $3.0 billion 364-day secured term loan facility. ◦Entering into $2.8 billion of sale-leaseback transactions as described below. ◦Issuing $3.5 billion of senior secured notes and entering into a $1.5 billion term loan, both of which are secured by certain slots, gates and routes. ◦Issuing $1.3 billion of unsecured notes. ◦Completing $1.4 billion in transactions secured by aircraft, including EETC issuances and aircraft loans. •Amending our credit facilities to replace fixed charge coverage ratio covenants with liquidity-based covenants. •Suspending share repurchases and dividends. •Postponing $500 million of planned voluntary pension funding. We continue to evaluate leveraging our unencumbered assets to pursue future financing opportunities and our possible participation in the CARES Act loan program, discussed below. In response to the impact that the demand environment has had on our financial condition, our credit rating has been downgraded by Standard & Poor's to BB in March 2020 and by Fitch to BB+ in April 2020. Our credit rating from Moody's remains Baa3. Our primary credit facilities have various financial and other covenants that require us to maintain a minimum liquidity ratio and a minimum collateral coverage ratio. The minimum liquidity ratio replaced the fixed charge coverage ratio previously in the facilities as part of the amendments we completed in June 2020. We expect to remain in compliance with these and other covenants in our debt agreements. See Note 7, "Debt," and the sale-leaseback transactions section in this footnote for more information on our financing activities during the six months ended June 30, 2020. Valuation of Goodwill and Indefinite-Lived Intangibles 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. Our December 2019 quarter quantitative impairment tests of goodwill and intangibles concluded that there was no indication of impairment as the fair value exceeded our carrying value:
(1) The reduction in goodwill relates to the combination of Delta Private Jets with Wheels Up in the March 2020 quarter. See Note 5, "Investments," for more information on this transaction. (2) As part of our strategic alliance with and investment in LATAM Airlines Group S.A. ("LATAM"), we have recorded an alliance-related indefinite-lived intangible asset of $1.2 billion, which was not reflected in the 2019 quantitative impairment assessment. See Note 5, "Investments," for more information on this transaction. Despite the significant excess fair value identified in our 2019 impairment assessment, we determined that the reduced cash flow projections and the significant decline in Delta's market capitalization as a result of the COVID-19 pandemic indicate that an impairment loss may have been incurred. Therefore, we qualitatively assessed whether it was more likely than not that the goodwill and indefinite-lived intangible assets were impaired as of June 30, 2020. We reviewed our previous forecasts and assumptions based on our current projections that are subject to various risks and uncertainties, including: (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) the reduction in Delta's market capitalization, (4) observable market transactions, (5) changes to the regulatory environment and (6) the nature and amount of government support that has been and is expected to be provided in the future. Based on our interim impairment assessment as of June 30, 2020, we have determined that our goodwill and indefinite-lived intangible assets are not impaired. However, we are unable to predict how long these conditions will persist, what additional measures may be introduced by governments or private parties or what effect any such additional measures may have on air travel and our business. Any measure that requires or encourages potential travelers to stay in their homes, engage in social distancing or avoid larger gatherings of people is highly likely to be harmful to the air travel industry in general, and consequently our business. We expect any traveler wariness of airports and commercial aircraft to have a similar effect. Valuation of Long-Lived Assets Our flight equipment and other long-lived assets, which are classified as property and equipment, net on our Consolidated Balance Sheet ("balance sheet"), have a recorded value of $28.5 billion at June 30, 2020. We review flight equipment and other long-lived assets used in operations for impairment losses when events and circumstances indicate the assets may be impaired. As part of our capacity reductions related to the negative effect on our business from the COVID-19 pandemic, we have removed approximately 600 aircraft from active service as of June 30, 2020. Other than the MD-88, MD-90, 777 and 737-700 fleets and certain of our 767-300ER and A320 aircraft, which we have retired or are in the process of retiring, the aircraft removed from service are being temporarily parked. In the March 2020 quarter we recorded an impairment charge of $22 million related to the MD-88 fleet. In the June 2020 quarter we recorded impairment charges of $1.4 billion related to the 777 fleet, $330 million related to the MD-90 fleet, $220 million related to the 737-700 fleet, $180 million related to the seven retired 767-300ER aircraft and $60 million related to the ten retired A320 aircraft in restructuring charges in our Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income ("income statement"). These impairment charges were calculated using Level 3 fair value inputs based primarily upon forecasted future cash flows, recent market transactions, published pricing guides and our assessment of existing market conditions based on industry knowledge. Following the impairment charges, the remaining cumulative net book value for these aircraft is $370 million. To determine whether impairments exist for active and temporarily parked aircraft, we group assets at the fleet-type level or at the contract level for aircraft operated by 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. Given the substantial reduction in our active aircraft and diminished projections of future cash flows in the near term, we evaluated the remainder of our fleet and determined that only the fleet-types discussed above were impaired as the future cash flows from operation of the fleet through the respective retirement dates exceeded the carrying value. As we obtain greater clarity about the duration and extent of reduced demand and potentially execute further capacity adjustments, we will continue to evaluate our current fleet compared to network requirements and may decide to permanently retire additional aircraft. See Note 5, "Investments," for information on the valuation of our equity investments. CARES Act On March 27, 2020, President Trump signed the Coronavirus Aid, Relief, and Economic Security Act ("CARES Act") into law. The CARES Act is a relief package intended to assist many aspects of the American economy, including providing the airline industry with up to $25 billion in grants to be used for employee wages, salaries and benefits. In April 2020, we entered into an agreement with the U.S. Department of the Treasury to receive $5.4 billion in emergency relief through the CARES Act payroll support program to be paid in installments through July 2020. The relief payments are conditioned on our agreement to refrain from conducting involuntary employee layoffs or furloughs through September 30, 2020. Other conditions include prohibitions on share repurchases and dividends through September 30, 2021, continuing essential air service as directed by the U.S. Department of Transportation and certain limitations on executive compensation. The relief payments include $3.8 billion in a grant and $1.6 billion in an unsecured 10-year low interest loan. The loan bears interest at an annual rate of 1.00% for the first five years (through April 2025) and the Secured Overnight Financing Rate ("SOFR") plus 2.00% in the final five years. In return, we agreed to issue to the U.S. Department of the Treasury warrants to acquire over 6.5 million shares of Delta common stock. These warrants have an exercise price of $24.39 per share and a five-year term. The relative fair value of the warrants is recorded within stockholder's equity and as a discount reducing the carrying value of the loan which will be amortized as interest expense in our income statement over the term of the loan. The proceeds of the grant are recorded in cash and cash equivalents when received and will be recognized as contra-expense in CARES Act grant recognition in our income statement over the periods that the funds are intended to compensate, which is expected to be through the end of 2020. In the June 2020 quarter, we received $4.9 billion under the CARES Act payroll support program, which consists of $3.5 billion in a grant and $1.4 billion in an unsecured loan. The remaining amount will be received in July 2020. As of June 30, 2020, we recognized $1.3 billion of the grant as contra-expense with the remaining $2.2 billion recorded as a deferred contra-expense in other accrued liabilities on our balance sheet. We expect to recognize the remainder of the grant proceeds from the CARES Act payroll support program as contra-expense by the end of 2020. See Note 7, "Debt," for further discussion of the unsecured loans and warrants to acquire Delta shares issued under the CARES Act payroll support program. The CARES Act also provides for up to $25 billion in secured loans to the airline industry. We are eligible and have entered into a non-binding letter of intent to the U.S. Department of the Treasury for $4.6 billion under the loan program. We have not decided if we will participate, and we have until September 30, 2020 to decide whether to participate in this program. Finally, the CARES Act also provides for deferred payment of the employer portion of social security taxes through the end of 2020, with 50% of the deferred amount due December 31, 2021 and the remaining 50% due December 31, 2022. This is expected to provide us with approximately $200 million of additional liquidity during the current year. Sale-Leaseback Transactions In the June 2020 quarter, 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. These transactions are treated as financing inflows on the Condensed Consolidated Statements of Cash Flows ("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 operating lease right-of-use assets. The liabilities are recorded within current maturities of operating leases and noncurrent operating leases on our balance sheet. These transactions are treated as investing cash inflows on the cash flows statement.
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Revenue Recognition |
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| Revenue from Contract with Customer [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Revenue Recognition | REVENUE RECOGNITION Passenger Revenue Passenger revenue is primarily composed of passenger ticket sales, loyalty travel awards and travel-related services performed in conjunction with a passenger’s flight.
Ticket. We defer sales of passenger tickets to be flown by us or that we sell on behalf of other airlines in air traffic liability. Passenger revenue is recognized when we provide transportation or when ticket breakage occurs. 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 to be flown in the future, as well as credits which can be applied as payment toward the cost of a ticket. The credits are typically issued as a result of ticket cancellations prior to their expiration dates. Prior to April 2020, passenger tickets sold and credits issued were generally valid for one year from the date of original ticket issuance. In April 2020, we announced that credits issued for cancelled travel in March through September 2020 will have an extended expiration date through September 2022. This change shifted $315 million of our air traffic liability to noncurrent in the June 2020 quarter, which represents our current estimate of tickets to be flown, as well as credits to be used, beyond one year. We will continue to monitor our customers' travel behavior and may adjust our estimates in the future. 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 current reduction in demand for air travel due to the COVID-19 pandemic has resulted in an unprecedented low level of advance bookings and the associated cash received. We also began experiencing significant ticket cancellations in the second half of March, which has led to issuance of refunds to customers, while the remainder of cancellations have been rebooked on future flights or received credits in lieu of cash refunds. The total value of refunds, excluding taxes and related fees, issued to customers during the three and six months ended June 30, 2020 was approximately $1.3 billion and $2.1 billion, respectively. We recognized approximately $2.9 billion in passenger revenue during the six months ended June 30, 2020 that was recorded in our air traffic liability balance at December 31, 2019. Due to the uncertainty around the return of demand for air travel, we are unable to estimate the amount of the December 31, 2019 air traffic liability that will be recognized in earnings compared to amounts that will be refunded to customers or issued as a credit for future travel through the end of 2020. Other Revenue
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 and other airlines that participate in the loyalty program. When traveling, customers earn redeemable miles based on the passenger's loyalty program status 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, membership in our Sky Club and other program awards. To facilitate transactions with participating companies, we sell miles to non-airline businesses, customers and other airlines. Our most significant contract to sell miles relates to our co-brand credit card relationship with American Express. During the six months ended June 30, 2020 and 2019, total cash sales from marketing agreements related to our loyalty program were $1.5 billion and $2.0 billion, respectively, which are allocated to travel and other performance obligations. Current Activity of the Loyalty Program. Miles are combined in one homogeneous pool and are not separately identifiable. As such, 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.
The timing of mile redemptions can vary widely; however, the majority of new miles have historically been redeemed within two years. The loyalty program deferred revenue classified as a current liability represents our current estimate of revenue expected to be recognized in the next 12 months based on projected redemptions, while the balance classified as a noncurrent liability represents our current estimate of revenue expected to be recognized beyond 12 months. As a result of the COVID-19 pandemic, a larger portion of mile redemptions is projected to occur beyond 12 months and is therefore reflected as a noncurrent liability as of June 30, 2020. We will continue to monitor redemptions as the situation evolves. 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. The majority of the revenues of the refinery, consisting of fuel sales to the airline, have been eliminated in the Condensed 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 tables:
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Fair Value Measurements |
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| Fair Value Disclosures [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair Value Measurements | FAIR VALUE MEASUREMENTS Assets (Liabilities) Measured at Fair Value on a Recurring Basis
Cash Equivalents and Restricted Cash Equivalents. Cash equivalents generally consist of money market funds. Restricted cash equivalents 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 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 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. Long-Term Investments. Our long-term investments that are 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. As of June 30, 2020, our equity investment in Wheels Up is classified as Level 3 in the fair value hierarchy as its equity is not traded on a public exchange and our equity investments in LATAM and Grupo Aeroméxico are classified as Level 3 investments due to having recently entered into bankruptcy proceedings. See Note 5, "Investments," for further information on our equity investments. Hedge Derivatives. A portion of our derivative contracts are 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 are 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 fuel hedge portfolio consists of options, swaps and 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. •Interest Rate Contracts. Our interest rate derivatives are swap contracts, which are valued based on data readily observable in public markets. •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 |
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| Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Investments | INVESTMENTS Short-Term Investments At June 30, 2020, the estimated fair value of our short-term investments was $4.3 billion, which approximates cost. These investments are expected to mature in one year or less. Actual maturities may differ from contractual maturities because certain issuers of the securities may have the right to retire certain of our investments without prepayment penalties. Long-Term Investments We have developed strategic relationships with a number of airlines and airline services companies through equity investments and other forms of cooperation and support. Our equity investments reinforce our commitment to these relationships and provide us with the ability to participate in strategic decision-making, often through representation on the board of directors of the investee. LATAM. In January 2020, we acquired 20% of the shares of LATAM for $1.9 billion, or $16 per share, through a tender offer as part of our plan to enter into a strategic alliance with LATAM. In addition, to support the establishment of the strategic alliance, we agreed to make transition payments to LATAM totaling $350 million, $200 million of which was disbursed in 2019. The remaining $150 million will be disbursed in equal quarterly payments through 2021, beginning in the September 2020 quarter. As part of our planned strategic alliance with LATAM, we also agreed to acquire four A350 aircraft from LATAM and assumed ten of LATAM's A350 purchase commitments with Airbus for deliveries through 2025. The total consideration of $2.3 billion, including the tender offer and the transition payments, was allocated in the March 2020 quarter to the shares ($1.1 billion) and to the alliance-related indefinite-lived intangible asset ($1.2 billion) based on their relative fair values. We expect to record the ten aircraft at cost upon delivery. In May 2020, LATAM filed for bankruptcy under Chapter 11 of the United States bankruptcy code and, as part of LATAM's reorganization, we have terminated the purchase agreement for the four A350 aircraft from LATAM for a fee of $62 million, which is recorded in restructuring charges in our income statement. While our ownership interest remains at 20%, we no longer have significant influence over LATAM and have discontinued accounting for the investment under the equity method in the June 2020 quarter. This investment is now accounted for at fair value. During the June 2020 quarter, we eliminated our investment basis in LATAM and recorded expense of $1.1 billion in impairments and equity method losses within non-operating expenses in our income statement. This charge reflects the recognition of both our 20% share of LATAM's March 2020 quarter losses (due to the timing of information available from LATAM) and the decline in our expected realizable value for LATAM's shares following its bankruptcy filing. The impairment charge for our investment in LATAM was calculated using Level 3 fair value inputs. We expect that no more than an immaterial amount will be distributed to current equity holders following the settlement of unsecured claims upon LATAM's emergence from bankruptcy. In May 2020, we signed a trans-American joint venture agreement with LATAM that, subject to regulatory approvals, will combine our highly complementary route networks between North and South America, with the goal of providing customers with a seamless travel experience and industry-leading connectivity. In addition, we believe LATAM intends to request that the bankruptcy court approve the assumption of our strategic partnership agreement, which contributes to supporting the value of our $1.2 billion alliance-related indefinite-lived intangible asset. We continue to believe this alliance will generate growth opportunities, building upon Delta's and LATAM's global footprint and joint ventures. See Note 2, "Impact of the COVID-19 Pandemic," for further discussion of our qualitative impairment assessment of indefinite-lived intangible assets. Grupo Aeroméxico. In June 2020, Grupo Aeroméxico filed for bankruptcy under Chapter 11 of the United States bankruptcy code. We have a non-controlling 51% ownership interest in Grupo Aeroméxico, however Grupo Aeroméxico's corporate bylaws (as authorized by the Mexican Foreign Investment Commission) limit our voting interest to a maximum of 49%. Therefore, we accounted for our investment under the equity method prior to Grupo Aeroméxico's bankruptcy filing. As a result of Grupo Aeroméxico's bankruptcy filing, while our ownership interest has not changed, we no longer have significant influence over Grupo Aeroméxico and have discontinued accounting for the investment under the equity method in the June 2020 quarter. This investment is now accounted for at fair value. During the June 2020 quarter, we eliminated our investment basis in Grupo Aeroméxico and recorded expense of $770 million in impairments and equity method losses within non-operating expenses in our income statement. This charge reflects the recognition of both our 51% share of Grupo Aeroméxico's June 2020 quarter losses and the decline in our expected realizable value for Grupo Aeroméxico's shares following its bankruptcy filing. The impairment charge for our investment in Grupo Aeroméxico was calculated using Level 3 fair value inputs. We expect that no more than an immaterial amount will be distributed to current equity holders following the settlement of unsecured claims upon Grupo Aeroméxico's emergence from bankruptcy. In addition, in its bankruptcy proceeding, Grupo Aeroméxico has requested the bankruptcy court's approval to assume our joint cooperation agreement. GOL. In 2019, we sold our ownership stake of GOL Linhas Aéreas Inteligentes, the parent company of VRG Linhas Aéreas (operating as GOL), and have ended our commercial agreements. Additionally, GOL has a $300 million -year term loan facility with third parties maturing in August 2020, which we have guaranteed. Based on market value at June 30, 2020, approximately 60% of our guaranty is secured by GOL's ownership interest in Smiles, GOL's publicly traded loyalty program. Because GOL remains in compliance with the terms of its loan facility, we have not recorded a liability for the full value of the term loan on our balance sheet as of June 30, 2020. However, as the COVID-19 pandemic continues to impact the global economy, there is an increased risk related to GOL's ability to repay this term loan, which may require our performance under this guaranty. Therefore, we recorded an immaterial reserve in other accrued liabilities on our balance sheet and restructuring charges in our income statement related to the decline in value of our security interest in GOL's Smiles shares compared to our guaranty of GOL's term loan. Fair Value Investments We account for the following investments at fair value on a recurring basis with adjustments to fair value recognized in gain/(loss) on investments within non-operating expense in our income statement. We recorded gains of $8 million and losses of $104 million on our fair value investments during the three and six months ended June 30, 2020, respectively. These results were driven by changes in stock prices, foreign currency fluctuations and other valuation techniques for investments in companies without publicly-traded shares.
Wheels Up. In January 2020, we combined Delta Private Jets, our wholly owned subsidiary which provides private jet operations, with Wheels Up. Upon closing, we received a 27% equity stake in Wheels Up which we have elected to record using the fair value option as this is expected to better reflect the economics of our ownership interest. This transaction resulted in a gain of $240 million which was recorded within miscellaneous, net in our income statement in the March 2020 quarter. Equity Method Investments We account for the investments listed below under the equity method of accounting.
(1)We have a non-controlling equity stake in Virgin Atlantic Limited, the parent company of Virgin Atlantic Airways, and similar non-controlling interests in certain affiliated Virgin Atlantic companies. Virgin Atlantic. As a result of the COVID-19 pandemic and the resulting travel restrictions, Virgin Atlantic has incurred significant losses during 2020. In recording our 49% share in Virgin Atlantic's results during the six months ended June 30, 2020 and based on our review of Virgin Atlantic's financial projections, we have reduced the basis in our investment to zero and recorded expense of $200 million in impairments and equity method losses within non-operating expense in our income statement. Under the equity method of accounting, we will track our share of Virgin Atlantic's future losses, but will not reflect our share of their results in our financial statements until such time that our share of their earnings eliminates the losses beyond our basis in the investment. We continue to monitor and support Virgin Atlantic's ongoing restructuring efforts. Effective January 2020, we combined our separate transatlantic joint venture agreements with Air France-KLM and Virgin Atlantic into a single three-party transatlantic joint venture. Under the new agreement, certain measurement thresholds were reset from the previous joint venture with Virgin Atlantic, reducing the value we would have received over the original term. In consideration for this reduced value, we entered into a transition agreement with Virgin Atlantic, which would have resulted in payments to us in future periods. However, as of June 30, 2020, based on our assessment of collectibility, we do not have any assets or liabilities recorded on our balance sheet related to this transition agreement. Unifi. Our share of Unifi's financial results is recorded in contracted services in our income statement as this entity is integral to the operations of our business. Based on discussions with Unifi's management and review of their liquidity and financial projections, we do not believe our investment is other than temporarily impaired as we have the intent and ability to retain this investment for a period of time sufficient to allow for anticipated recovery in value. However, we will continue to monitor the continuing effects of the pandemic and self-help measures Unifi executes. Receivables from Investees and Business Partners Based on our assessment of collectibility, we have recorded $98 million of reserves against the outstanding receivables with Virgin Atlantic, Virgin Australia, LATAM, Grupo Aeroméxico and others reflecting our expected recoveries given their restructuring efforts or recent bankruptcy filings. In determining the appropriate amount to reserve, we also considered the valuation of and our ability to realize the value of any collateral associated with each receivable. The reserves are recorded within accounts receivable, net on our balance sheet and within restructuring charges in our income statement.
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Derivatives and Risk Management |
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| Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Derivatives and Risk Management | DERIVATIVES AND RISK MANAGEMENT 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 enter into derivative contracts and adjust our derivative portfolio as market conditions change. We recognize derivative contracts at fair value on our balance sheet. Cash flows associated with purchasing and settling hedge contracts generally are classified as operating cash flows. Fuel Price Risk Our derivative contracts to hedge the financial risk from changing fuel prices are primarily related to Monroe’s inventory. Interest Rate Risk Our exposure to market risk from adverse changes in interest rates is primarily associated with our debt obligations. 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. In the March 2020 quarter, we unwound a majority of our interest rate swap contracts. The unwind of these contracts generated approximately $100 million of cash in the March 2020 quarter. These gains are being reflected in our income statement over the remaining term of the related debt agreements. Foreign Currency Exchange Risk We are subject to foreign currency exchange rate risk because we have revenue, expense and equity investments denominated in foreign currencies. To manage exchange rate risk, we execute both our international revenue and expense transactions in the same foreign currency to the extent practicable. From time to time, we may also enter into foreign currency option and forward contracts. Hedge Position as of June 30, 2020
Hedge Position as of December 31, 2019
Balance Sheet Location of Hedged Item in Fair Value Hedges
(1)As of June 30, 2020, these amounts include the cumulative amount of fair value hedging adjustments remaining for which hedge accounting has been discontinued of approximately $91 million. Offsetting Assets and Liabilities We have master netting arrangements with our counterparties giving us the right to offset hedge assets and liabilities. However, we have elected not to offset the fair value positions recorded on our balance sheet. The following table shows the net fair value of our counterparty positions had we elected to offset.
Not Designated Hedge Gains (Losses) Gains (losses) related to our foreign currency exchange and fuel hedge contracts are as follows:
Credit Risk To manage credit risk associated with our fuel price, interest rate and foreign currency hedging programs, we evaluate counterparties based on several criteria, including their credit ratings, and limit our exposure to any one counterparty.
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Debt |
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| Debt Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt | DEBT The following table summarizes our debt:
(1)Certain financings are comprised of variable rate debt. All variable rates are equal to LIBOR (generally subject to a floor) or another index rate, in each case plus a specified margin. (2)Due in installments. (3)Primarily includes unsecured bonds and debt secured by certain accounts receivable and real estate. 2020 Unsecured Notes In June 2020, we issued $1.3 billion in aggregate principal amount of 7.375% unsecured notes due 2026. The unsecured notes are equal in right of payment with our other unsubordinated indebtedness and senior in right of payment to future subordinated debt. The unsecured notes are subject to covenants that, among other things, limit our ability to incur liens securing indebtedness for borrowed money or finance leases and engage in mergers and consolidations or transfer all or substantially all of our assets, in each case subject to certain exceptions. The unsecured notes also contain event of default provisions consistent with those in our recent unsecured debt offerings. Unsecured CARES Act Payroll Support Program Loan In the June 2020 quarter, we entered into a promissory note for $1.4 billion of the CARES Act payroll support program loan and issued warrants to acquire more than 5.9 million shares of Delta common stock under the program. We have recorded the value of the promissory note and warrants on a relative fair value basis as $1.3 billion of noncurrent debt and $100 million in additional paid in capital, respectively. We expect to enter into the final $163 million installment of the promissory note and issue the related warrants in July 2020 in connection with receipt of the final payment under the payroll support program. See Note 2, "Impact of the COVID-19 Pandemic," for further discussion of the terms of the payroll support program loan. 2020 Senior Secured Notes and Term Loan In April 2020, we issued $3.5 billion of senior secured notes and entered into a $1.5 billion term loan secured by certain slots, gates and routes. The senior secured notes bear interest at an annual rate of 7.00% and mature in May 2025. The term loan bears interest at a variable rate equal to LIBOR plus a specified margin and is subject to payments of 1% per year, payable quarterly beginning in September 2020, with the balance due in April 2023. 2020 Secured Term Loan Facility In March 2020, we entered into a $2.7 billion 364-day secured term loan facility ("the facility"), and we increased the borrowings thereunder to $3.0 billion in April 2020. Borrowings under the facility are secured by certain aircraft. The facility also contains an accordion feature under which the aggregate commitment can be increased to $4.0 billion upon our request, provided that the new lenders agree to the existing terms of the facility. In the June 2020 quarter, the facility was amended to include a minimum liquidity covenant, as discussed further below. 2020-1 EETC We completed a $1.0 billion offering of Class AA and A Pass Through Certificates, Series 2020-1 ("2020-1 EETC") utilizing a pass through trust during March 2020. The proceeds of this issuance were used to pay the unsecured notes that matured in the March 2020 quarter. In April 2020, we issued an additional $135 million of Class B certificates. The amounts of all 2020-1 EETC are included in Certificates in the table above. The details of the 2020-1 EETC, which is secured by 33 aircraft, are shown in the table below:
2019-1 EETC In April 2020, we issued an additional $108 million of certificates under the 2019-1 EETC offering initially completed in March 2019. The additional certificates were issued as 2019-1 Class B Certificates with a fixed interest rate of 8.00% and mature in April 2023. 2018 Revolving Credit Facility In June 2020, we amended the 2018 revolving credit facility agreement ("Amended Revolving Credit Facility") to be secured by our Pacific route authorities and certain related assets. Additionally, the revolving credit facility was amended to extend the maturities of $1.3 billion of the revolver previously due in April 2021 to April 2022 and to include a minimum liquidity covenant, as discussed further below. Availability Under Revolving Facilities During the March 2020 quarter, we drew $3.0 billion on our revolving credit facilities. We have approximately $39 million undrawn as of June 30, 2020. The amounts drawn are spread across several lines within the debt summary table above. 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.
Covenants Our credit facilities contain affirmative, negative and financial covenants that, among other things, may restrict our ability to place liens on collateral, sell or otherwise dispose of assets if we are not in compliance with a collateral coverage ratio, and pay dividends or repurchase stock. These covenants also require us to maintain $2.0 billion of minimum liquidity (defined as cash, cash equivalents, short-term investments and aggregate principal amount committed and available to be drawn under our revolving credit facilities). We were in compliance with the covenants in our financing agreements at June 30, 2020.
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Employee Benefit Plans |
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| Retirement Benefits [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Employee Benefit Plans | EMPLOYEE BENEFIT PLANS The following table shows the components of net periodic (benefit) cost:
Service cost is recorded in salaries and related costs in our income statement while all other components are recorded within miscellaneous, net under non-operating expense. We have no minimum funding requirements for our defined benefit pension plans. Due to the impact of the COVID-19 pandemic on our liquidity, we no longer plan to make any voluntary contributions during 2020. During the June 2020 quarter, we announced voluntary early retirement and separation programs. These primarily apply to eligible U.S. merit, ground and flight attendant and pilot employees. The enrollment period for these programs will close in July 2020. Employees electing to participate in the retirement programs will be eligible for separation payments, continued healthcare benefits and certain participants will receive enhanced retiree healthcare benefits. As the election windows will close in the September 2020 quarter, we did not record any charges for these programs in the June 2020 quarter. We currently estimate we will record a $2.7 billion to $3.3 billion charge associated with these programs during the September 2020 quarter. We anticipate that approximately $500 million to $600 million of this charge will result in cash payments to participants in the September 2020 quarter. Certain of the programs remain open and these represent our best estimates based on the employees who have signed up to date.
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Commitments and Contingencies |
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| Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Commitments and Contingencies | COMMITMENTS AND CONTINGENCIES Aircraft Purchase Commitments We have committed to the future aircraft purchases reflected below. However, we are working with the OEMs to optimize the timing of our future aircraft deliveries. Our future aircraft purchase commitments totaled approximately $14.2 billion at June 30, 2020:
Our future aircraft purchase commitments included the following aircraft at June 30, 2020:
(1)Includes two A330-900neo lease commitments with one in each of 2020 and 2021. LATAM A350 Commitments We have assumed ten of LATAM's A350 purchase commitments from Airbus, with deliveries through 2025, which are included as purchase commitments in the table above. We had previously agreed to acquire four A350 aircraft from LATAM, but have terminated the purchase agreement for a fee of $62 million during the June 2020 quarter. See Note 5, "Investments," for further information on our strategic alliance with LATAM. 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 Condensed 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 June 30, 2020 or December 31, 2019. 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 laws 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. 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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Accumulated Other Comprehensive Loss |
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| Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accumulated Other Comprehensive Loss | ACCUMULATED OTHER COMPREHENSIVE LOSS The following tables show the components of accumulated other comprehensive loss:
(1)Amounts reclassified from AOCI for pension and other benefit liabilities and for derivative contracts designated as foreign currency cash flow hedges are recorded in miscellaneous, net in non-operating expense and in passenger revenue, respectively, in our income statement. (2)Includes $755 million of deferred income tax expense primarily related to pension and other benefit obligations that will not be recognized in net income until these obligations are fully extinguished. We consider all income sources, including other comprehensive income, in determining the amount of tax benefit allocated to results from operations. (3)In June 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 |
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Jun. 30, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segments | SEGMENTS Refinery Operations 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 three and six months ended June 30, 2020 was $65 million and $895 million, respectively, compared to $1.1 billion and $1.8 billion, respectively for the three and six months ended June 30, 2019. 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.
(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.
(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.
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(Loss)/Earnings Per Share |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| (Loss)/Earnings Per Share | (LOSS)/EARNINGS PER SHARE We calculate basic (loss)/earnings per share and diluted (loss) per share by dividing net (loss)/income 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 and restricted stock awards. Antidilutive common stock equivalents excluded from the diluted (loss)/earnings per share calculation are not material. The following table shows the computation of basic and diluted (loss)/earnings per share:
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Summary of Significant Accounting Policies (Policies) |
6 Months Ended |
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Jun. 30, 2020 | |
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
| Basis of Presentation | Basis of Presentation The accompanying unaudited Condensed 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 United States ("GAAP") for interim financial information. Consistent with these requirements, this Form 10-Q does not include all the information required by GAAP for complete financial statements. As a result, this Form 10-Q should be read in conjunction with the Consolidated Financial Statements and accompanying Notes in our Form 10-K for the year ended December 31, 2019. Management believes the accompanying unaudited Condensed Consolidated Financial Statements reflect all adjustments, including normal recurring items, considered necessary for a fair statement of results for the interim periods presented. Due to severe impacts from the global COVID-19 (coronavirus) pandemic, seasonal variations in the demand for air travel, the volatility of aircraft fuel prices and other factors, operating results for the three and six months ended June 30, 2020 are not necessarily indicative of operating results for the entire year. We 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.
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| Recent Accounting Standards | Recent Accounting Standards Credit Losses. In 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-13, "Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments." Under this ASU, an entity is required to utilize an "expected credit loss model" on certain financial instruments, including trade and financing receivables. This model requires consideration of a broader range of reasonable and supportable information and requires an entity to estimate expected credit losses over the lifetime of the asset. We adopted this standard effective January 1, 2020 and due to the COVID-19 pandemic, we recorded reserves on certain receivables, which are discussed further in Note 5, "Investments."
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Impact of the COVID-19 Pandemic (Tables) |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule goodwill and intangibles carrying value and fair value | Our December 2019 quarter quantitative impairment tests of goodwill and intangibles concluded that there was no indication of impairment as the fair value exceeded our carrying value:
(1) The reduction in goodwill relates to the combination of Delta Private Jets with Wheels Up in the March 2020 quarter. See Note 5, "Investments," for more information on this transaction. (2) As part of our strategic alliance with and investment in LATAM Airlines Group S.A. ("LATAM"), we have recorded an alliance-related indefinite-lived intangible asset of $1.2 billion, which was not reflected in the 2019 quantitative impairment assessment. See Note 5, "Investments," for more information on this transaction.
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Revenue Recognition (Tables) |
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| Revenue from Contract with Customer [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of disaggregation of revenue | Passenger Revenue Passenger revenue is primarily composed of passenger ticket sales, loyalty travel awards and travel-related services performed in conjunction with a passenger’s flight.
Other Revenue
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| Schedule of activity in loyalty program deferred revenue | 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.
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| Schedule of revenue by geographic region | Our passenger and operating revenue by geographic region is summarized in the following tables:
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Fair Value Measurements (Tables) |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 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
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Investments (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of investments at fair value | We account for the following investments at fair value on a recurring basis with adjustments to fair value recognized in gain/(loss) on investments within non-operating expense in our income statement. We recorded gains of $8 million and losses of $104 million on our fair value investments during the three and six months ended June 30, 2020, respectively. These results were driven by changes in stock prices, foreign currency fluctuations and other valuation techniques for investments in companies without publicly-traded shares.
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| Summary of equity method investments | We account for the investments listed below under the equity method of accounting.
(1)We have a non-controlling equity stake in Virgin Atlantic Limited, the parent company of Virgin Atlantic Airways, and similar non-controlling interests in certain affiliated Virgin Atlantic companies.
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Derivatives and Risk Management (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of hedge positions | Hedge Position as of June 30, 2020
Hedge Position as of December 31, 2019
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| Schedule of balance sheet location of hedged item in fair value hedges | Balance Sheet Location of Hedged Item in Fair Value Hedges
(1)As of June 30, 2020, these amounts include the cumulative amount of fair value hedging adjustments remaining for which hedge accounting has been discontinued of approximately $91 million.
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| Schedule of offsetting assets | The following table shows the net fair value of our counterparty positions had we elected to offset.
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| Schedule of offsetting liabilities | The following table shows the net fair value of our counterparty positions had we elected to offset.
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| Schedule of derivative gains (losses) | Not Designated Hedge Gains (Losses) Gains (losses) related to our foreign currency exchange and fuel hedge contracts are as follows:
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Debt (Tables) |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of debt | The following table summarizes our debt:
(1)Certain financings are comprised of variable rate debt. All variable rates are equal to LIBOR (generally subject to a floor) or another index rate, in each case plus a specified margin. (2)Due in installments. (3)Primarily includes unsecured bonds and debt secured by certain accounts receivable and real estate.
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| Schedule of pass through certificates | The proceeds of this issuance were used to pay the unsecured notes that matured in the March 2020 quarter. In April 2020, we issued an additional $135 million of Class B certificates. The amounts of all 2020-1 EETC are included in Certificates in the table above. The details of the 2020-1 EETC, which is secured by 33 aircraft, are shown in the table below:
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| Schedule of estimated fair value of debt instruments | 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.
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Employee Benefit Plans (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Retirement Benefits [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of components net periodic (benefit) cost | The following table shows the components of net periodic (benefit) cost:
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Commitments and Contingencies (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of future aircraft purchase commitments | Our future aircraft purchase commitments totaled approximately $14.2 billion at June 30, 2020:
Our future aircraft purchase commitments included the following aircraft at June 30, 2020:
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Accumulated Other Comprehensive Loss (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of components of accumulated other comprehensive loss | The following tables show the components of accumulated other comprehensive loss:
(1)Amounts reclassified from AOCI for pension and other benefit liabilities and for derivative contracts designated as foreign currency cash flow hedges are recorded in miscellaneous, net in non-operating expense and in passenger revenue, respectively, in our income statement. (2)Includes $755 million of deferred income tax expense primarily related to pension and other benefit obligations that will not be recognized in net income until these obligations are fully extinguished. We consider all income sources, including other comprehensive income, in determining the amount of tax benefit allocated to results from operations. (3)In June 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 (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of segment reporting information | 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.
(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.
(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.
|
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(Loss)/Earnings Per Share (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of computation of basic and diluted (loss) earnings per share | The following table shows the computation of basic and diluted (loss)/earnings per share:
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Impact of the COVID-19 Pandemic - Narrative (Details) numberOfEmployees in Thousands |
1 Months Ended | 3 Months Ended | 6 Months Ended | ||||
|---|---|---|---|---|---|---|---|
|
Mar. 31, 2020
USD ($)
|
Sep. 30, 2020 |
Jun. 30, 2020
USD ($)
aircraft
|
Mar. 31, 2020
USD ($)
|
Sep. 30, 2020 |
Jun. 30, 2020
USD ($)
aircraft
numberOfEmployees
|
Apr. 30, 2020
USD ($)
|
|
| Impact Of Global Pandemic [Line Items] | |||||||
| Year-over-year decrease in system capacity (percent) | 85.00% | ||||||
| Percentage of fleet temporarily parked (percent) | 50.00% | ||||||
| Number of aircraft removed from active service | aircraft | 600 | ||||||
| Number of employees volunteering for leave | numberOfEmployees | 45 | ||||||
| Salary reduction for company officers (percent) | 50.00% | ||||||
| Salary reduction for director-level employees (percent) | 25.00% | ||||||
| Work hours reduction for management and most front-line employee work groups (percent) | 25.00% | ||||||
| Cash, cash equivalents, short-term investments, and amounts available under revolving credit facilities | $ 15,700,000,000 | $ 15,700,000,000 | |||||
| Reduction in planned capital expenditures for the year | 3,500,000,000 | ||||||
| Proceeds from payroll support program, CARES Act | 4,900,000,000 | ||||||
| Delay in planned voluntary pension funding | $ 500,000,000 | $ 500,000,000 | |||||
| 767-300ER | |||||||
| Impact Of Global Pandemic [Line Items] | |||||||
| Number of aircraft retired | aircraft | 7 | ||||||
| A320 | |||||||
| Impact Of Global Pandemic [Line Items] | |||||||
| Number of aircraft retired | aircraft | 10 | ||||||
| Minimum | |||||||
| Impact Of Global Pandemic [Line Items] | |||||||
| Voluntary unpaid leave duration | 30 days | ||||||
| Maximum | |||||||
| Impact Of Global Pandemic [Line Items] | |||||||
| Voluntary unpaid leave duration | 12 months | ||||||
| Aircraft sale leaseback | |||||||
| Impact Of Global Pandemic [Line Items] | |||||||
| Sale leaseback transactions | $ 2,800,000,000 | ||||||
| Secured Term Loan | 2020 Secured Term Loan Facility | |||||||
| Impact Of Global Pandemic [Line Items] | |||||||
| Debt instrument amount | $ 2,700,000,000 | $ 2,700,000,000 | $ 3,000,000,000.0 | ||||
| Debt instrument term | 364 days | ||||||
| Revolving Credit Facility | |||||||
| Impact Of Global Pandemic [Line Items] | |||||||
| Proceeds from revolving credit facilities | $ 3,000,000,000.0 | $ 3,000,000,000.0 | |||||
| Revolving Credit Facility | 2018 Revolving Credit Facility | |||||||
| Impact Of Global Pandemic [Line Items] | |||||||
| Revolving credit subject to extended maturity | 1,300,000,000 | 1,300,000,000 | |||||
| Revolving credit borrowings secured | 2,700,000,000 | 2,700,000,000 | |||||
| Secured Debt | 2020 Senior Secured Notes | |||||||
| Impact Of Global Pandemic [Line Items] | |||||||
| Debt instrument amount | 3,500,000,000 | ||||||
| Secured Debt | 2020 Term Loan | |||||||
| Impact Of Global Pandemic [Line Items] | |||||||
| Debt instrument amount | $ 1,500,000,000 | ||||||
| Secured Debt | EETC issuances and aircraft loans | |||||||
| Impact Of Global Pandemic [Line Items] | |||||||
| Proceeds from transactions secured by aircraft | 1,400,000,000 | ||||||
| Unsecured Debt | 2020 Unsecured Notes | |||||||
| Impact Of Global Pandemic [Line Items] | |||||||
| Debt instrument amount | $ 1,300,000,000 | $ 1,300,000,000 | |||||
| Forecast | |||||||
| Impact Of Global Pandemic [Line Items] | |||||||
| Load factor cap (percent) | 60.00% | ||||||
| Year-over-year decrease in system capacity (percent) | 60.00% | ||||||
| Work hours reduction for director-level employees (percent) | 25.00% | ||||||
| International | |||||||
| Impact Of Global Pandemic [Line Items] | |||||||
| Year-over-year decrease in system capacity (percent) | 94.00% | ||||||
| International | Forecast | |||||||
| Impact Of Global Pandemic [Line Items] | |||||||
| Year-over-year decrease in system capacity (percent) | 80.00% | ||||||
| Domestic | |||||||
| Impact Of Global Pandemic [Line Items] | |||||||
| Year-over-year decrease in system capacity (percent) | 80.00% | ||||||
| Domestic | Forecast | |||||||
| Impact Of Global Pandemic [Line Items] | |||||||
| Year-over-year decrease in system capacity (percent) | 50.00% | ||||||
Impact of the COVID-19 Pandemic - Valuation of Goodwill and Indefinite-Lived Intangibles (Details) - USD ($) $ in Millions |
Jun. 30, 2020 |
Dec. 31, 2019 |
|---|---|---|
| Indefinite-lived Intangible Assets [Line Items] | ||
| Goodwill | $ 9,753 | $ 9,781 |
| Fair Value Excess at 2019 Testing Date | 234.00% | |
| Goodwill and indefinite-lived intangibles | 15,671 | $ 14,841 |
| International routes and slots | ||
| Indefinite-lived Intangible Assets [Line Items] | ||
| Indefinite-lived intangibles | 2,583 | $ 2,583 |
| International routes and slots | Minimum | ||
| Indefinite-lived Intangible Assets [Line Items] | ||
| Fair Value Excess at 2019 Testing Date | 15.00% | |
| International routes and slots | Maximum | ||
| Indefinite-lived Intangible Assets [Line Items] | ||
| Fair Value Excess at 2019 Testing Date | 29.00% | |
| Airline alliances | ||
| Indefinite-lived Intangible Assets [Line Items] | ||
| Indefinite-lived intangibles | 1,863 | $ 1,005 |
| Airline alliances | Minimum | ||
| Indefinite-lived Intangible Assets [Line Items] | ||
| Fair Value Excess at 2019 Testing Date | 67.00% | |
| Airline alliances | Maximum | ||
| Indefinite-lived Intangible Assets [Line Items] | ||
| Fair Value Excess at 2019 Testing Date | 576.00% | |
| Airline alliances | LATAM | ||
| Indefinite-lived Intangible Assets [Line Items] | ||
| Indefinite-lived intangibles | 1,200 | |
| Delta tradename | ||
| Indefinite-lived Intangible Assets [Line Items] | ||
| Indefinite-lived intangibles | 850 | $ 850 |
| Fair Value Excess at 2019 Testing Date | 185.00% | |
| Domestic slots | ||
| Indefinite-lived Intangible Assets [Line Items] | ||
| Indefinite-lived intangibles | $ 622 | $ 622 |
| Domestic slots | Minimum | ||
| Indefinite-lived Intangible Assets [Line Items] | ||
| Fair Value Excess at 2019 Testing Date | 61.00% | |
| Domestic slots | Maximum | ||
| Indefinite-lived Intangible Assets [Line Items] | ||
| Fair Value Excess at 2019 Testing Date | 181.00% |
Impact of the COVID-19 Pandemic - Valuation of Long-Lived Assets (Details) $ in Millions |
3 Months Ended | 6 Months Ended | |
|---|---|---|---|
|
Jun. 30, 2020
USD ($)
aircraft
|
Mar. 31, 2020
USD ($)
|
Jun. 30, 2020
USD ($)
aircraft
|
|
| Property, Plant and Equipment [Line Items] | |||
| Flight equipment and other long-lived assets | $ 28,500 | $ 28,500 | |
| Number of aircraft removed from active service | aircraft | 600 | ||
| Retired aircraft | |||
| Property, Plant and Equipment [Line Items] | |||
| Cumulative net book value of retired aircraft | 370 | $ 370 | |
| MD-88 fleet | |||
| Property, Plant and Equipment [Line Items] | |||
| Impairment charge related to retired fleet | $ 22 | ||
| 777 fleet | |||
| Property, Plant and Equipment [Line Items] | |||
| Impairment charge related to retired fleet | 1,400 | ||
| MD-90 fleet | |||
| Property, Plant and Equipment [Line Items] | |||
| Impairment charge related to retired fleet | 330 | ||
| 737-700 fleet | |||
| Property, Plant and Equipment [Line Items] | |||
| Impairment charge related to retired fleet | 220 | ||
| 767-300ER | |||
| Property, Plant and Equipment [Line Items] | |||
| Impairment charge related to retired fleet | $ 180 | ||
| Number of aircraft retired | aircraft | 7 | ||
| A320 | |||
| Property, Plant and Equipment [Line Items] | |||
| Impairment charge related to retired fleet | $ 60 | ||
| Number of aircraft retired | aircraft | 10 | ||
Impact of the COVID-19 Pandemic - CARES Act (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions |
1 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | 60 Months Ended | ||
|---|---|---|---|---|---|---|---|
Apr. 30, 2020 |
Jun. 30, 2020 |
Jun. 30, 2019 |
Jun. 30, 2020 |
Jun. 30, 2019 |
Dec. 31, 2020 |
Apr. 30, 2030 |
|
| Impact Of Global Pandemic [Line Items] | |||||||
| Emergency relief per agreement through payroll support program, CARES Act | $ 5,400 | ||||||
| Grant awarded per agreement through payroll support program, CARES Act | $ 3,800 | ||||||
| Proceeds from payroll support program, CARES Act | $ 4,900 | ||||||
| Proceeds from grant through payroll support program, CARES Act | 3,500 | ||||||
| CARES Act grant recognized as contra expense | 1,280 | $ 0 | $ 1,280 | $ 0 | |||
| CARES Act grant deferred | 2,200 | 2,200 | |||||
| Expected eligibility amount for secured loans through CARES Act | $ 4,600 | $ 4,600 | |||||
| Delta Common Stock Warrants | |||||||
| Impact Of Global Pandemic [Line Items] | |||||||
| Number shares called by warrants (in shares) | 6.5 | 5.9 | 5.9 | ||||
| Warrant exercise price (USD per share) | $ 24.39 | ||||||
| Warrants term (in years) | 5 years | ||||||
| Forecast | |||||||
| Impact Of Global Pandemic [Line Items] | |||||||
| Expected additional liquidity through deferred payment of employer portion of social security taxes | $ 200 | ||||||
| Unsecured Debt | Unsecured CARES Act Payroll Support Program Loan | |||||||
| Impact Of Global Pandemic [Line Items] | |||||||
| Unsecured loan per agreement through payroll support program, CARES Act | $ 1,600 | ||||||
| Debt instrument term | 10 years | ||||||
| Interest rate per annum (percent) | 1.00% | 1.00% | 1.00% | ||||
| Proceeds from unsecured loan through payroll support program, CARES Act | $ 1,400 | ||||||
| Unsecured Debt | Unsecured CARES Act Payroll Support Program Loan | SOFR | Forecast | |||||||
| Impact Of Global Pandemic [Line Items] | |||||||
| Basis spread on variable rate (percent) | 2.00% | ||||||
Impact of the COVID-19 Pandemic - Sale-Leaseback Transactions (Details) - Aircraft sale leaseback $ in Billions |
3 Months Ended |
|---|---|
|
Jun. 30, 2020
USD ($)
aircraft
transaction
| |
| Impact Of Global Pandemic [Line Items] | |
| Sale leaseback transactions | $ | $ 2.8 |
| 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 |
| A321-200 | |
| Impact Of Global Pandemic [Line Items] | |
| Number of aircraft in sale-Leaseback transactions | 25 |
| A220-100 | |
| Impact Of Global Pandemic [Line Items] | |
| Number of aircraft in sale-Leaseback transactions | 25 |
| CRJ-900 | |
| Impact Of Global Pandemic [Line Items] | |
| Number of aircraft in sale-Leaseback transactions | 23 |
| 737-900ER | |
| Impact Of Global Pandemic [Line Items] | |
| Number of aircraft in sale-Leaseback transactions | 10 |
| A330-900 | |
| Impact Of Global Pandemic [Line Items] | |
| Number of aircraft in sale-Leaseback transactions | 2 |
Revenue Recognition - Passenger Revenue (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2020 |
Jun. 30, 2019 |
Jun. 30, 2020 |
Jun. 30, 2019 |
|
| Disaggregation of Revenue [Line Items] | ||||
| Operating revenue | $ 1,468 | $ 12,536 | $ 10,060 | $ 23,008 |
| Passenger | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Operating revenue | 678 | 11,368 | 8,247 | 20,622 |
| Ticket | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Operating revenue | 568 | 9,969 | 7,078 | 17,957 |
| Loyalty travel awards | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Operating revenue | 45 | 751 | 588 | 1,442 |
| Travel-related services | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Operating revenue | $ 65 | $ 648 | $ 581 | $ 1,223 |
Revenue Recognition - Narrative (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | |||
|---|---|---|---|---|---|
Jun. 30, 2020 |
Mar. 31, 2020 |
Jun. 30, 2020 |
Jun. 30, 2019 |
Dec. 31, 2019 |
|
| Disaggregation of Revenue [Line Items] | |||||
| General terms of validity for passenger tickets and credits from date of original ticket issuance | 1 year | ||||
| Total value of refunds to customers | $ 1,300 | $ 2,100 | |||
| Revenue recognized that was previously deferred | 2,900 | ||||
| Cash sales of mileage credits | $ 1,500 | $ 2,000 | |||
| Majority of new miles redemption period (in years) | 2 years | ||||
| Air traffic | |||||
| Disaggregation of Revenue [Line Items] | |||||
| Deferred revenue liability, noncurrent | $ 315 | $ 315 | $ 0 | ||
Revenue Recognition - Other Revenue (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2020 |
Jun. 30, 2019 |
Jun. 30, 2020 |
Jun. 30, 2019 |
|
| Disaggregation of Revenue [Line Items] | ||||
| Operating revenue | $ 1,468 | $ 12,536 | $ 10,060 | $ 23,008 |
| Other | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Operating revenue | 682 | 982 | 1,552 | 2,008 |
| Loyalty program | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Operating revenue | 269 | 484 | 743 | 958 |
| Ancillary businesses and refinery | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Operating revenue | 390 | 330 | 613 | 699 |
| Miscellaneous | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Operating revenue | $ 23 | $ 168 | $ 196 | $ 351 |
Revenue Recognition - Loyalty Program Deferred Revenue (Details) - USD ($) $ in Millions |
6 Months Ended | |
|---|---|---|
Jun. 30, 2020 |
Jun. 30, 2019 |
|
| Frequent Flyer Liability Activity [Roll Forward] | ||
| Miles earned | $ 872 | $ 1,542 |
| Travel miles redeemed | (588) | (1,443) |
| Non-travel miles redeemed | (31) | (86) |
| Loyalty program | ||
| Frequent Flyer Liability Activity [Roll Forward] | ||
| Deferred revenue (current and noncurrent), beginning | 6,728 | 6,641 |
| Deferred revenue (current and noncurrent), ending | $ 6,981 | $ 6,654 |
Revenue Recognition - Revenue by Geographic Region (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2020 |
Jun. 30, 2019 |
Jun. 30, 2020 |
Jun. 30, 2019 |
|
| Disaggregation of Revenue [Line Items] | ||||
| Operating revenue | $ 1,468 | $ 12,536 | $ 10,060 | $ 23,008 |
| Domestic | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Operating revenue | 1,264 | 8,809 | 7,531 | 16,325 |
| Atlantic | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Operating revenue | 119 | 2,129 | 1,113 | 3,416 |
| Latin America | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Operating revenue | 26 | 831 | 889 | 1,800 |
| Pacific | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Operating revenue | 59 | 767 | 527 | 1,467 |
| Passenger | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Operating revenue | 678 | 11,368 | 8,247 | 20,622 |
| Passenger | Domestic | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Operating revenue | 564 | 8,093 | 6,165 | 14,834 |
| Passenger | Atlantic | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Operating revenue | 64 | 1,873 | 882 | 2,947 |
| Passenger | Latin America | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Operating revenue | 18 | 753 | 783 | 1,614 |
| Passenger | Pacific | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Operating revenue | $ 32 | $ 649 | $ 417 | $ 1,227 |
Fair Value Measurements (Details) - USD ($) $ in Millions |
Jun. 30, 2020 |
Dec. 31, 2019 |
|---|---|---|
| Fair Value, Net Asset (Liability) | ||
| Long-term investments | $ 1,384 | $ 1,099 |
| Recurring | ||
| Fair Value, Net Asset (Liability) | ||
| Cash equivalents | 8,225 | 586 |
| Restricted cash equivalents | 452 | 847 |
| Long-term investments | 1,384 | 1,099 |
| Recurring | U.S. Government securities | ||
| Fair Value, Net Asset (Liability) | ||
| Short-term investments | 4,302 | |
| Recurring | Fuel hedge contracts | ||
| Fair Value, Net Asset (Liability) | ||
| Hedge derivatives, net | (6) | 1 |
| Recurring | Interest rate contracts | ||
| Fair Value, Net Asset (Liability) | ||
| Hedge derivatives, net | 26 | 61 |
| Recurring | Foreign currency exchange contracts | ||
| Fair Value, Net Asset (Liability) | ||
| Hedge derivatives, net | 6 | 6 |
| Recurring | Level 1 | ||
| Fair Value, Net Asset (Liability) | ||
| Cash equivalents | 8,225 | 586 |
| Restricted cash equivalents | 452 | 847 |
| Long-term investments | 924 | 881 |
| Recurring | Level 1 | U.S. Government securities | ||
| Fair Value, Net Asset (Liability) | ||
| Short-term investments | 4,244 | |
| Recurring | Level 1 | Fuel hedge contracts | ||
| Fair Value, Net Asset (Liability) | ||
| Hedge derivatives, net | 0 | (1) |
| Recurring | Level 1 | Interest rate contracts | ||
| Fair Value, Net Asset (Liability) | ||
| Hedge derivatives, net | 0 | 0 |
| Recurring | Level 1 | Foreign currency exchange contracts | ||
| Fair Value, Net Asset (Liability) | ||
| Hedge derivatives, net | 0 | 0 |
| Recurring | Level 2 | ||
| Fair Value, Net Asset (Liability) | ||
| Cash equivalents | 0 | 0 |
| Restricted cash equivalents | 0 | 0 |
| Long-term investments | 226 | 218 |
| Recurring | Level 2 | U.S. Government securities | ||
| Fair Value, Net Asset (Liability) | ||
| Short-term investments | 58 | |
| Recurring | Level 2 | Fuel hedge contracts | ||
| Fair Value, Net Asset (Liability) | ||
| Hedge derivatives, net | (6) | 2 |
| Recurring | Level 2 | Interest rate contracts | ||
| Fair Value, Net Asset (Liability) | ||
| Hedge derivatives, net | 26 | 61 |
| Recurring | Level 2 | Foreign currency exchange contracts | ||
| Fair Value, Net Asset (Liability) | ||
| Hedge derivatives, net | 6 | $ 6 |
| Recurring | Level 3 | ||
| Fair Value, Net Asset (Liability) | ||
| Cash equivalents | 0 | |
| Restricted cash equivalents | 0 | |
| Long-term investments | 234 | |
| Recurring | Level 3 | U.S. Government securities | ||
| Fair Value, Net Asset (Liability) | ||
| Short-term investments | 0 | |
| Recurring | Level 3 | Fuel hedge contracts | ||
| Fair Value, Net Asset (Liability) | ||
| Hedge derivatives, net | 0 | |
| Recurring | Level 3 | Interest rate contracts | ||
| Fair Value, Net Asset (Liability) | ||
| Hedge derivatives, net | 0 | |
| Recurring | Level 3 | Foreign currency exchange contracts | ||
| Fair Value, Net Asset (Liability) | ||
| Hedge derivatives, net | $ 0 |
Investments - Narrative (Details) |
1 Months Ended | 3 Months Ended | 6 Months Ended | |||||
|---|---|---|---|---|---|---|---|---|
|
May 31, 2020
USD ($)
aircraft
|
Jan. 31, 2020
USD ($)
joint_venture_party
aircraft
$ / shares
|
Jun. 30, 2020
USD ($)
|
Mar. 31, 2020
USD ($)
|
Jun. 30, 2019
USD ($)
|
Jun. 30, 2020
USD ($)
aircraft
|
Jun. 30, 2019
USD ($)
|
Dec. 31, 2019
USD ($)
|
|
| Schedule of Equity Method Investments [Line Items] | ||||||||
| Short-term investments | $ 4,302,000,000 | $ 4,302,000,000 | $ 0 | |||||
| Acquisition of strategic investments | 2,099,000,000 | $ 89,000,000 | ||||||
| Restructuring charges | 2,454,000,000 | $ 0 | 2,454,000,000 | 0 | ||||
| Impairments and equity method losses | 2,058,000,000 | 17,000,000 | 2,318,000,000 | 71,000,000 | ||||
| Net gain (loss) on Investments | 8,000,000 | $ (82,000,000) | (104,000,000) | $ 18,000,000 | ||||
| Number of parties in joint venture | joint_venture_party | 3 | |||||||
| Receivables from investees | ||||||||
| Schedule of Equity Method Investments [Line Items] | ||||||||
| Reserve against outstanding receivables from Virgin Atlantic, Virgin Australia, LATAM, Grupo Aeromexico, and others | 98,000,000 | $ 98,000,000 | ||||||
| LATAM | ||||||||
| Schedule of Equity Method Investments [Line Items] | ||||||||
| Ownership interest (percent) | 20.00% | 20.00% | ||||||
| Acquisition of strategic investments | $ 1,900,000,000 | |||||||
| Per share price in tender offer (USD per share) | $ / shares | $ 16 | |||||||
| Total consideration for investment | $ 2,300,000,000 | |||||||
| Carrying value of equity investment | 1,100,000,000 | |||||||
| Impairments and equity method losses | 1,100,000,000 | |||||||
| Grupo Aeromexico | ||||||||
| Schedule of Equity Method Investments [Line Items] | ||||||||
| Ownership interest (percent) | 51.00% | |||||||
| Impairments and equity method losses | $ 770,000,000 | |||||||
| Voting interest limit per bylaws (percent) | 49.00% | |||||||
| Virgin Atlantic | ||||||||
| Schedule of Equity Method Investments [Line Items] | ||||||||
| Ownership interest (percent) | 49.00% | 49.00% | 49.00% | |||||
| Carrying value of equity investment | $ 0 | $ 0 | $ 375,000,000 | |||||
| Impairments and equity method losses | 200,000,000 | |||||||
| Alliance-related | ||||||||
| Schedule of Equity Method Investments [Line Items] | ||||||||
| Indefinite-lived intangibles | 1,863,000,000 | 1,863,000,000 | $ 1,005,000,000 | |||||
| Alliance-related | LATAM | ||||||||
| Schedule of Equity Method Investments [Line Items] | ||||||||
| Consideration allocated to indefinite-lived intangible asset | 1,200,000,000 | |||||||
| Indefinite-lived intangibles | 1,200,000,000 | 1,200,000,000 | ||||||
| LATAM | ||||||||
| Schedule of Equity Method Investments [Line Items] | ||||||||
| Planned transition payments to support establishment of strategic alliance | $ 350,000,000 | |||||||
| Payments to support establishment of strategic alliance | 200,000,000 | |||||||
| Estimated future disbursements for establishment of strategic alliance | 150,000,000 | $ 150,000,000 | ||||||
| Restructuring charges | $ 62,000,000 | $ 62,000,000 | ||||||
| LATAM | A350 | ||||||||
| Schedule of Equity Method Investments [Line Items] | ||||||||
| Number of aircraft agreed to acquire | aircraft | 4 | |||||||
| Number of aircraft assumed | aircraft | 10 | |||||||
| Number of aircraft in terminated purchase agreement | aircraft | 4 | |||||||
| Wheels Up | ||||||||
| Schedule of Equity Method Investments [Line Items] | ||||||||
| Gain on transaction to combine subsidiary with Wheels Up | $ 240,000,000 | |||||||
| LATAM | ||||||||
| Schedule of Equity Method Investments [Line Items] | ||||||||
| Ownership interest (percent) | 20.00% | |||||||
| Grupo Aeromexico | ||||||||
| Schedule of Equity Method Investments [Line Items] | ||||||||
| Ownership interest (percent) | 51.00% | 51.00% | ||||||
| Wheels Up | ||||||||
| Schedule of Equity Method Investments [Line Items] | ||||||||
| Ownership interest (percent) | 27.00% | 25.00% | 25.00% | 0.00% | ||||
| Term loan facility | Financial guarantee | ||||||||
| Schedule of Equity Method Investments [Line Items] | ||||||||
| Guarantee borrowings on third party debt | $ 300,000,000 | |||||||
| Guarantee borrowings on third party debt, term (in years) | 5 years | |||||||
| Percentage of guarantee secured by ownership interest | 60.00% | 60.00% | ||||||
Investments - Fair Value Investments (Details) - USD ($) $ in Millions |
Jun. 30, 2020 |
Jan. 31, 2020 |
Dec. 31, 2019 |
|---|---|---|---|
| Fair Value Investments | |||
| Carrying value | $ 1,384 | $ 1,099 | |
| Hanjin-KAL | |||
| Fair Value Investments | |||
| Ownership interest (percent) | 15.00% | 10.00% | |
| Carrying value | $ 588 | $ 205 | |
| Air France-KLM | |||
| Fair Value Investments | |||
| Ownership interest (percent) | 9.00% | 9.00% | |
| Carrying value | $ 170 | $ 418 | |
| China Eastern | |||
| Fair Value Investments | |||
| Ownership interest (percent) | 3.00% | 3.00% | |
| Carrying value | $ 166 | $ 258 | |
| Wheels Up | |||
| Fair Value Investments | |||
| Ownership interest (percent) | 25.00% | 27.00% | 0.00% |
| Carrying value | $ 234 | $ 0 | |
| Other investments | |||
| Fair Value Investments | |||
| Carrying value | $ 226 | $ 218 |
Investments - Equity Method Investments (Details) - USD ($) |
Jun. 30, 2020 |
Dec. 31, 2019 |
|---|---|---|
| Virgin Atlantic | ||
| Equity Method Investments | ||
| Ownership interest (percent) | 49.00% | 49.00% |
| Carrying value | $ 0 | $ 375,000,000 |
| Unifi | ||
| Equity Method Investments | ||
| Ownership interest (percent) | 49.00% | 49.00% |
| Carrying value | $ 143,000,000 | $ 142,000,000 |
Derivatives and Risk Management - Narrative (Details) $ in Millions |
3 Months Ended |
|---|---|
|
Mar. 31, 2020
USD ($)
| |
| Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
| Cash generated from unwinding of interest rate swap contracts | $ 100 |
Derivatives and Risk Management - Hedge Position (Details) € in Millions, ₩ in Millions, gal in Millions, $ in Millions |
6 Months Ended | 12 Months Ended | ||||
|---|---|---|---|---|---|---|
|
Jun. 30, 2020
USD ($)
gal
|
Dec. 31, 2019
USD ($)
gal
|
Jun. 30, 2020
EUR (€)
|
Jun. 30, 2020
KRW (₩)
|
Dec. 31, 2019
EUR (€)
|
Dec. 31, 2019
KRW (₩)
|
|
| Derivatives, Fair Value | ||||||
| Total derivative contracts, net | $ 26 | $ 68 | ||||
| Prepaid Expenses and Other | ||||||
| Derivatives, Fair Value | ||||||
| Total derivative contracts, assets | 15 | 38 | ||||
| Other Noncurrent Assets | ||||||
| Derivatives, Fair Value | ||||||
| Total derivative contracts, assets | 24 | 53 | ||||
| Other Accrued Liabilities | ||||||
| Derivatives, Fair Value | ||||||
| Total derivative contracts, liabilities | (13) | (19) | ||||
| Other Noncurrent Liabilities | ||||||
| Derivatives, Fair Value | ||||||
| Total derivative contracts, liabilities | 0 | (4) | ||||
| Foreign exchange contracts - Euro based | Not designated as hedges | ||||||
| Derivatives, Fair Value | ||||||
| Volume | € | € 238 | € 397 | ||||
| Total derivative contracts, net | 5 | 9 | ||||
| Foreign exchange contracts - Euro based | Not designated as hedges | Prepaid Expenses and Other | ||||||
| Derivatives, Fair Value | ||||||
| Total derivative contracts, assets | 5 | 9 | ||||
| Foreign exchange contracts - Euro based | Not designated as hedges | Other Noncurrent Assets | ||||||
| Derivatives, Fair Value | ||||||
| Total derivative contracts, assets | 0 | 0 | ||||
| Foreign exchange contracts - Euro based | Not designated as hedges | Other Accrued Liabilities | ||||||
| Derivatives, Fair Value | ||||||
| Total derivative contracts, liabilities | 0 | 0 | ||||
| Foreign exchange contracts - Euro based | Not designated as hedges | Other Noncurrent Liabilities | ||||||
| Derivatives, Fair Value | ||||||
| Total derivative contracts, liabilities | 0 | 0 | ||||
| Foreign exchange contracts - Won based | Not designated as hedges | ||||||
| Derivatives, Fair Value | ||||||
| Volume | ₩ | ₩ 177,045 | ₩ 177,045 | ||||
| Total derivative contracts, net | 1 | (3) | ||||
| Foreign exchange contracts - Won based | Not designated as hedges | Prepaid Expenses and Other | ||||||
| Derivatives, Fair Value | ||||||
| Total derivative contracts, assets | 0 | 1 | ||||
| Foreign exchange contracts - Won based | Not designated as hedges | Other Noncurrent Assets | ||||||
| Derivatives, Fair Value | ||||||
| Total derivative contracts, assets | 1 | 0 | ||||
| Foreign exchange contracts - Won based | Not designated as hedges | Other Accrued Liabilities | ||||||
| Derivatives, Fair Value | ||||||
| Total derivative contracts, liabilities | 0 | 0 | ||||
| Foreign exchange contracts - Won based | Not designated as hedges | Other Noncurrent Liabilities | ||||||
| Derivatives, Fair Value | ||||||
| Total derivative contracts, liabilities | $ 0 | $ (4) | ||||
| Fuel hedge contracts | Not designated as hedges | ||||||
| Derivatives, Fair Value | ||||||
| Volume, nonmonetary | gal | 245 | 243 | ||||
| Total derivative contracts, net | $ (6) | $ 1 | ||||
| Fuel hedge contracts | Not designated as hedges | Prepaid Expenses and Other | ||||||
| Derivatives, Fair Value | ||||||
| Total derivative contracts, assets | 7 | 16 | ||||
| Fuel hedge contracts | Not designated as hedges | Other Noncurrent Assets | ||||||
| Derivatives, Fair Value | ||||||
| Total derivative contracts, assets | 0 | 0 | ||||
| Fuel hedge contracts | Not designated as hedges | Other Accrued Liabilities | ||||||
| Derivatives, Fair Value | ||||||
| Total derivative contracts, liabilities | (13) | (15) | ||||
| Fuel hedge contracts | Not designated as hedges | Other Noncurrent Liabilities | ||||||
| Derivatives, Fair Value | ||||||
| Total derivative contracts, liabilities | 0 | 0 | ||||
| Fair value hedges | Interest rate contracts | Designated as hedges | ||||||
| Derivatives, Fair Value | ||||||
| Volume | 150 | 1,872 | ||||
| Total derivative contracts, net | 26 | 61 | ||||
| Fair value hedges | Interest rate contracts | Designated as hedges | Prepaid Expenses and Other | ||||||
| Derivatives, Fair Value | ||||||
| Total derivative contracts, assets | 3 | 12 | ||||
| Fair value hedges | Interest rate contracts | Designated as hedges | Other Noncurrent Assets | ||||||
| Derivatives, Fair Value | ||||||
| Total derivative contracts, assets | 23 | 53 | ||||
| Fair value hedges | Interest rate contracts | Designated as hedges | Other Accrued Liabilities | ||||||
| Derivatives, Fair Value | ||||||
| Total derivative contracts, liabilities | 0 | (4) | ||||
| Fair value hedges | Interest rate contracts | Designated as hedges | Other Noncurrent Liabilities | ||||||
| Derivatives, Fair Value | ||||||
| Total derivative contracts, liabilities | $ 0 | $ 0 | ||||
Derivatives and Risk Management - Balance Sheet Location of Hedged Item (Details) - USD ($) $ in Millions |
Jun. 30, 2020 |
Dec. 31, 2019 |
|---|---|---|
| Derivative [Line Items] | ||
| Cumulative amount of adjustments remaining for which hedge accounting has been discontinued | $ 91 | |
| Current maturities of debt and finance leases | ||
| Derivative [Line Items] | ||
| Carrying amount of hedge instruments | 21 | $ (19) |
| Cumulative amount of fair value hedge adjustments | 21 | 8 |
| Debt and finance leases | ||
| Derivative [Line Items] | ||
| Carrying amount of hedge instruments | (53) | (1,783) |
| Cumulative amount of fair value hedge adjustments | $ 96 | $ 53 |
Derivatives and Risk Management - Offsetting Assets and Liabilities (Details) - USD ($) $ in Millions |
Jun. 30, 2020 |
Dec. 31, 2019 |
|---|---|---|
| Derivative | ||
| Total derivative contracts, net | $ 26 | $ 68 |
| Prepaid Expenses and Other | ||
| Derivative | ||
| Net derivative contracts, assets | 8 | 24 |
| Other Noncurrent Assets | ||
| Derivative | ||
| Net derivative contracts, assets | 24 | 53 |
| Other Accrued Liabilities | ||
| Derivative | ||
| Net derivative contracts, liabilities | (6) | (5) |
| Other Noncurrent Liabilities | ||
| Derivative | ||
| Net derivative contracts, liabilities | $ 0 | $ (4) |
Derivatives and Risk Management - Not Designated Hedge Gains (Losses) (Details) - Not designated as hedges - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2020 |
Jun. 30, 2019 |
Jun. 30, 2020 |
Jun. 30, 2019 |
|
| Derivative Instruments, Gain (Loss) [Line Items] | ||||
| Gain (loss) on derivatives recognized | $ (75) | $ 16 | $ 150 | $ (29) |
| Foreign currency exchange contracts | Gain/(loss) on investments, net | ||||
| Derivative Instruments, Gain (Loss) [Line Items] | ||||
| Gain (loss) on derivatives recognized | (7) | (3) | 1 | 7 |
| Fuel hedge contracts | Aircraft fuel and related taxes | ||||
| Derivative Instruments, Gain (Loss) [Line Items] | ||||
| Gain (loss) on derivatives recognized | $ (68) | $ 19 | $ 149 | $ (36) |
Debt - Summary of Debt (Details) - USD ($) $ in Millions |
6 Months Ended | ||
|---|---|---|---|
Jun. 30, 2020 |
Apr. 30, 2020 |
Dec. 31, 2019 |
|
| Debt Instrument [Line Items] | |||
| Total secured and unsecured debt | $ 23,582 | $ 9,991 | |
| Unamortized premium and debt issuance cost, net and other | (89) | 115 | |
| Total debt | 23,493 | 10,106 | |
| Less: current maturities | (4,954) | (2,054) | |
| Total long-term debt | $ 18,539 | 8,052 | |
| Unsecured notes | Unsecured Debt | |||
| Debt Instrument [Line Items] | |||
| Maturity dates range, start | Jul. 01, 2020 | ||
| Maturity dates range, end | Dec. 31, 2029 | ||
| Debt, gross | $ 5,800 | 5,550 | |
| Unsecured notes | Unsecured Debt | Minimum | |||
| Debt Instrument [Line Items] | |||
| Interest rate per annum (percent) | 2.60% | ||
| Unsecured notes | Unsecured Debt | Maximum | |||
| Debt Instrument [Line Items] | |||
| Interest rate per annum (percent) | 7.38% | ||
| Unsecured CARES Act Payroll Support Program Loan | Unsecured Debt | |||
| Debt Instrument [Line Items] | |||
| Maturity date | Dec. 31, 2030 | ||
| Interest rate per annum (percent) | 1.00% | 1.00% | |
| Debt, gross | $ 1,438 | 0 | |
| 2020 Senior Secured Notes | Secured Debt | |||
| Debt Instrument [Line Items] | |||
| Maturity date | Dec. 31, 2025 | ||
| Interest rate per annum (percent) | 7.00% | 7.00% | |
| Debt, gross | $ 3,500 | 0 | |
| 2020 Term Loan | Secured Debt | |||
| Debt Instrument [Line Items] | |||
| Maturity dates range, start | Jul. 01, 2020 | ||
| Maturity dates range, end | Dec. 31, 2023 | ||
| Interest rate per annum (percent) | 5.75% | ||
| Debt, gross | $ 1,500 | 0 | |
| 2018 Revolving Credit Facility | Revolving Credit Facility | |||
| Debt Instrument [Line Items] | |||
| Maturity dates range, start | Jan. 01, 2021 | ||
| Maturity dates range, end | Dec. 31, 2023 | ||
| Interest rate per annum (percent) | 3.75% | ||
| Debt, gross | $ 2,650 | 0 | |
| 2020 Secured Term Loan Facility | Secured Term Loan | |||
| Debt Instrument [Line Items] | |||
| Maturity date | Dec. 31, 2021 | ||
| Debt, gross | $ 2,950 | 0 | |
| 2020 Secured Term Loan Facility | Secured Term Loan | Minimum | |||
| Debt Instrument [Line Items] | |||
| Interest rate per annum (percent) | 2.43% | ||
| 2020 Secured Term Loan Facility | Secured Term Loan | Maximum | |||
| Debt Instrument [Line Items] | |||
| Interest rate per annum (percent) | 2.44% | ||
| Financing secured by aircraft - Certificates | Secured Debt | |||
| Debt Instrument [Line Items] | |||
| Maturity dates range, start | Jan. 01, 2021 | ||
| Maturity dates range, end | Dec. 31, 2028 | ||
| Debt, gross | $ 2,731 | 1,669 | |
| Financing secured by aircraft - Certificates | Secured Debt | Minimum | |||
| Debt Instrument [Line Items] | |||
| Interest rate per annum (percent) | 2.00% | ||
| Financing secured by aircraft - Certificates | Secured Debt | Maximum | |||
| Debt Instrument [Line Items] | |||
| Interest rate per annum (percent) | 8.02% | ||
| Financing secured by aircraft - Notes | Secured Debt | |||
| Debt Instrument [Line Items] | |||
| Maturity dates range, start | Jul. 01, 2020 | ||
| Maturity dates range, end | Dec. 31, 2025 | ||
| Debt, gross | $ 1,146 | 1,193 | |
| Financing secured by aircraft - Notes | Secured Debt | Minimum | |||
| Debt Instrument [Line Items] | |||
| Interest rate per annum (percent) | 0.91% | ||
| Financing secured by aircraft - Notes | Secured Debt | Maximum | |||
| Debt Instrument [Line Items] | |||
| Interest rate per annum (percent) | 5.75% | ||
| 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, 2021 | ||
| Maturity dates range, end | Dec. 31, 2030 | ||
| Debt, gross | $ 214 | 196 | |
| Other financings | Secured and Unsecured Debt | Minimum | |||
| Debt Instrument [Line Items] | |||
| Interest rate per annum (percent) | 1.16% | ||
| Other financings | Secured and Unsecured Debt | Maximum | |||
| Debt Instrument [Line Items] | |||
| Interest rate per annum (percent) | 8.75% | ||
| Other revolving credit facilities | Revolving Credit Facility | |||
| Debt Instrument [Line Items] | |||
| Maturity date | Dec. 31, 2021 | ||
| Debt, gross | $ 270 | $ 0 | |
| Other revolving credit facilities | Revolving Credit Facility | Minimum | |||
| Debt Instrument [Line Items] | |||
| Interest rate per annum (percent) | 1.93% | ||
| Other revolving credit facilities | Revolving Credit Facility | Maximum | |||
| Debt Instrument [Line Items] | |||
| Interest rate per annum (percent) | 3.36% |
Debt - Narrative (Details) shares in Millions |
1 Months Ended | 3 Months Ended | 6 Months Ended | |||
|---|---|---|---|---|---|---|
|
Apr. 30, 2020
USD ($)
shares
|
Mar. 31, 2020
USD ($)
|
Jun. 30, 2020
USD ($)
shares
|
Mar. 31, 2020
USD ($)
|
Jun. 30, 2020
USD ($)
aircraft
shares
|
Jun. 30, 2019
USD ($)
|
|
| Debt Instrument [Line Items] | ||||||
| CARES Act warrant issuance | $ 100,000,000 | |||||
| Proceeds from issuance of debt | $ 11,747,000,000 | $ 500,000,000 | ||||
| Additional Paid-In Capital | ||||||
| Debt Instrument [Line Items] | ||||||
| CARES Act warrant issuance | $ 100,000,000 | |||||
| Delta Common Stock Warrants | ||||||
| Debt Instrument [Line Items] | ||||||
| Number shares called by warrants (in shares) | shares | 6.5 | 5.9 | 5.9 | |||
| Revolving Credit Facility | ||||||
| Debt Instrument [Line Items] | ||||||
| Proceeds from revolving credit facilities | $ 3,000,000,000.0 | $ 3,000,000,000.0 | ||||
| Undrawn credit facilities | $ 39,000,000 | 39,000,000 | ||||
| Minimum liquidity covenant | 2,000,000,000.0 | 2,000,000,000.0 | ||||
| 2020 Unsecured Notes | Unsecured Debt | ||||||
| Debt Instrument [Line Items] | ||||||
| Debt instrument amount | $ 1,300,000,000 | $ 1,300,000,000 | ||||
| Interest rate per annum (percent) | 7.375% | 7.375% | ||||
| Unsecured CARES Act Payroll Support Program Loan | Unsecured Debt | ||||||
| Debt Instrument [Line Items] | ||||||
| Debt instrument amount | $ 1,400,000,000 | $ 1,400,000,000 | ||||
| Interest rate per annum (percent) | 1.00% | 1.00% | 1.00% | |||
| Relative fair value basis | $ 1,300,000,000 | $ 1,300,000,000 | ||||
| Final installment of promissory note to be received | $ 163,000,000 | $ 163,000,000 | ||||
| Debt instrument term | 10 years | |||||
| 2020 Senior Secured Notes | Secured Debt | ||||||
| Debt Instrument [Line Items] | ||||||
| Debt instrument amount | $ 3,500,000,000 | |||||
| Interest rate per annum (percent) | 7.00% | 7.00% | 7.00% | |||
| 2020 Term Loan | Secured Debt | ||||||
| Debt Instrument [Line Items] | ||||||
| Debt instrument amount | $ 1,500,000,000 | |||||
| Interest rate per annum (percent) | 5.75% | 5.75% | ||||
| Required payments per year (percent) | 1.00% | |||||
| 2020 Secured Term Loan Facility | Secured Term Loan | ||||||
| Debt Instrument [Line Items] | ||||||
| Debt instrument amount | $ 3,000,000,000.0 | $ 2,700,000,000 | $ 2,700,000,000 | |||
| Debt instrument term | 364 days | |||||
| Maximum amount available, including accordion feature | 4,000,000,000.0 | |||||
| Pass Through Certificates Series 2020-1 | Secured Debt | ||||||
| Debt Instrument [Line Items] | ||||||
| Debt instrument amount | $ 1,135,000,000 | $ 1,135,000,000 | ||||
| Proceeds from issuance of debt | $ 135,000,000 | $ 1,000,000,000.0 | ||||
| Number of aircraft to secure debt | aircraft | 33 | |||||
| Pass Through Certificates 2019-1 Class B | Secured Debt | ||||||
| Debt Instrument [Line Items] | ||||||
| Interest rate per annum (percent) | 8.00% | |||||
| Proceeds from issuance of debt | $ 108,000,000 | |||||
| 2018 Revolving Credit Facility | Revolving Credit Facility | ||||||
| Debt Instrument [Line Items] | ||||||
| Interest rate per annum (percent) | 3.75% | 3.75% | ||||
| Revolving credit subject to extended maturity | $ 1,300,000,000 | $ 1,300,000,000 | ||||
Debt - 2020-1 EETC (Details) - Secured Debt |
6 Months Ended |
|---|---|
|
Jun. 30, 2020
USD ($)
| |
| Pass Through Certificates Series 2020-1 | |
| Debt Instrument [Line Items] | |
| Debt instrument amount | $ 1,135,000,000 |
| Pass Through Certificates 2020-1 Class AA | |
| Debt Instrument [Line Items] | |
| Debt instrument amount | $ 796,000,000 |
| Fixed interest rate (percent) | 2.00% |
| Issuance date | Mar. 01, 2020 |
| Final maturity date | Jun. 30, 2028 |
| Pass Through Certificates 2020-1 Class A | |
| Debt Instrument [Line Items] | |
| Debt instrument amount | $ 204,000,000 |
| Fixed interest rate (percent) | 2.50% |
| Issuance date | Mar. 31, 2020 |
| Final maturity date | Jun. 30, 2028 |
| Pass Through Certificates 2020-1 Class B | |
| Debt Instrument [Line Items] | |
| Debt instrument amount | $ 135,000,000 |
| Fixed interest rate (percent) | 8.00% |
| Issuance date | Apr. 30, 2020 |
| Final maturity date | Jun. 30, 2027 |
Debt - Fair Value of Debt (Details) - USD ($) $ in Millions |
Jun. 30, 2020 |
Dec. 31, 2019 |
|---|---|---|
| Debt | ||
| Net carrying amount | $ 23,493 | $ 10,106 |
| Fair value | $ 22,900 | $ 10,400 |
Employee Benefit Plans - Components of Net (Benefit) Cost (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2020 |
Jun. 30, 2019 |
Jun. 30, 2020 |
Jun. 30, 2019 |
|
| Pension Benefits | ||||
| Defined Benefit Plan Disclosure | ||||
| Service cost | $ 0 | $ 0 | $ 0 | $ 0 |
| Interest cost | 175 | 208 | 351 | 417 |
| Expected return on plan assets | (343) | (296) | (687) | (593) |
| Amortization of prior service credit | 0 | 0 | 0 | 0 |
| Recognized net actuarial loss | 74 | 72 | 149 | 145 |
| Settlements | 3 | 2 | 3 | 2 |
| Net periodic (benefit) cost | (91) | (14) | (184) | (29) |
| Other Postretirement and Postemployment Benefits | ||||
| Defined Benefit Plan Disclosure | ||||
| Service cost | 24 | 21 | 48 | 42 |
| Interest cost | 28 | 34 | 56 | 68 |
| Expected return on plan assets | (11) | (12) | (22) | (24) |
| Amortization of prior service credit | (2) | (2) | (4) | (5) |
| Recognized net actuarial loss | 10 | 9 | 21 | 20 |
| Settlements | 0 | 0 | 0 | 0 |
| Net periodic (benefit) cost | $ 49 | $ 50 | $ 99 | $ 101 |
Employee Benefit Plans - Narrative (Details) - Voluntary early retirement and separation programs - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Sep. 30, 2020 |
Jun. 30, 2020 |
|
| Minimum | ||
| Restructuring Cost and Reserve [Line Items] | ||
| Estimated charge to be recorded | $ 2,700 | |
| Maximum | ||
| Restructuring Cost and Reserve [Line Items] | ||
| Estimated charge to be recorded | $ 3,300 | |
| Forecast | Minimum | ||
| Restructuring Cost and Reserve [Line Items] | ||
| Anticipated cash payments to participants | $ 500 | |
| Forecast | Maximum | ||
| Restructuring Cost and Reserve [Line Items] | ||
| Anticipated cash payments to participants | $ 600 |
Commitments and Contingencies - Aircraft Purchase Commitments By Period (Details) - Future aircraft purchase commitments $ in Millions |
Jun. 30, 2020
USD ($)
|
|---|---|
| Future aircraft purchase commitments: | |
| Six months ending December 31, 2020 | $ 2,350 |
| 2021 | 4,290 |
| 2022 | 3,070 |
| 2023 | 1,860 |
| 2024 | 980 |
| Thereafter | 1,690 |
| Total | $ 14,240 |
Commitments and Contingencies - Aircraft Purchase Commitments By Aircraft (Details) - Future aircraft purchase commitments |
Jun. 30, 2020
aircraft
lease_commitments
|
|---|---|
| Future Purchase Commitments | |
| Aircraft purchase commitments, minimum quantity required | 249 |
| A220-100 | |
| Future Purchase Commitments | |
| Aircraft purchase commitments, minimum quantity required | 14 |
| A220-300 | |
| Future Purchase Commitments | |
| Aircraft purchase commitments, minimum quantity required | 50 |
| A321-200 | |
| Future Purchase Commitments | |
| Aircraft purchase commitments, minimum quantity required | 27 |
| A321-200neo | |
| Future Purchase Commitments | |
| Aircraft purchase commitments, minimum quantity required | 100 |
| A330-900neo | |
| Future Purchase Commitments | |
| Aircraft purchase commitments, minimum quantity required | 32 |
| Number of lease commitments included in purchase commitment | lease_commitments | 2 |
| A350-900 | |
| Future Purchase Commitments | |
| Aircraft purchase commitments, minimum quantity required | 22 |
| CRJ-900 | |
| Future Purchase Commitments | |
| Aircraft purchase commitments, minimum quantity required | 4 |
Commitments and Contingencies - Narrative (Details) $ in Millions |
1 Months Ended | 3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|---|
|
May 31, 2020
USD ($)
aircraft
|
Jun. 30, 2020
USD ($)
aircraft
|
Jun. 30, 2019
USD ($)
|
Jun. 30, 2020
USD ($)
aircraft
|
Jun. 30, 2019
USD ($)
|
|
| Commitments and Contingencies [Line Items] | |||||
| Restructuring charges | $ | $ 2,454 | $ 0 | $ 2,454 | $ 0 | |
| Future aircraft purchase commitments | |||||
| Commitments and Contingencies [Line Items] | |||||
| Future aircraft purchase commitments | $ | 14,240 | $ 14,240 | |||
| LATAM | |||||
| Commitments and Contingencies [Line Items] | |||||
| Restructuring charges | $ | $ 62 | $ 62 | |||
| LATAM | A350-900 | |||||
| Commitments and Contingencies [Line Items] | |||||
| Number of aircraft assumed | 10 | ||||
| Number of aircraft in terminated purchase agreement | 4 | ||||
| LATAM | A350-900 | Future aircraft purchase commitments | |||||
| Commitments and Contingencies [Line Items] | |||||
| Number of aircraft assumed | 10 | ||||
| Number of aircraft in terminated purchase agreement | 4 | 4 | |||
Accumulated Other Comprehensive Loss - Schedule of AOCI Components (Details) - USD ($) $ in Millions |
1 Months Ended | 3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|---|
Jun. 30, 2020 |
Jun. 30, 2020 |
Jun. 30, 2019 |
Jun. 30, 2020 |
Jun. 30, 2019 |
|
| Components of accumulated other comprehensive loss | |||||
| Beginning balance | $ 14,309 | $ 12,911 | $ 15,358 | $ 13,687 | |
| Beginning balance, tax effect | 1,492 | ||||
| Changes in value (net of tax effect) | 2 | 7 | |||
| Changes in value, tax effect | 4 | 2 | |||
| Reclassifications into earnings (net of tax effect) | 50 | 124 | |||
| Reclassifications into earnings, tax effect | 123 | 38 | |||
| Ending balance | $ 8,690 | 8,690 | 13,958 | 8,690 | 13,958 |
| Ending balance, tax effect | 1,452 | 1,452 | |||
| Tax benefit | 1,297 | (464) | 1,370 | (680) | |
| Accumulated Other Comprehensive Income | |||||
| Components of accumulated other comprehensive loss | |||||
| Beginning balance | (7,898) | (7,766) | (7,989) | (7,825) | |
| Beginning balance, tax effect | 1,549 | ||||
| Ending balance | (7,937) | (7,937) | (7,694) | (7,937) | (7,694) |
| Ending balance, tax effect | 1,431 | 1,431 | 1,431 | ||
| Pension and Other Benefit Liabilities | |||||
| Components of accumulated other comprehensive loss | |||||
| Beginning balance | (8,095) | (7,925) | |||
| Changes in value (net of tax effect) | (6) | 6 | |||
| Reclassifications into earnings (net of tax effect) | 133 | 124 | |||
| Ending balance | (7,968) | (7,968) | (7,795) | (7,968) | (7,795) |
| Deferred income taxes related to pension obligation | 755 | ||||
| Other | |||||
| Components of accumulated other comprehensive loss | |||||
| Beginning balance | 106 | 100 | |||
| Changes in value (net of tax effect) | 8 | 1 | |||
| Reclassifications into earnings (net of tax effect) | (83) | 0 | |||
| Ending balance | 31 | $ 31 | $ 101 | $ 31 | $ 101 |
| Foreign currency hedges | Released from AOCI | |||||
| Components of accumulated other comprehensive loss | |||||
| Tax benefit | $ 83 | ||||
Segments - Narrative (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2020 |
Jun. 30, 2019 |
Jun. 30, 2020 |
Jun. 30, 2019 |
|
| Segment Reporting Information, Profit (Loss) | ||||
| Operating revenue | $ 1,468 | $ 12,536 | $ 10,060 | $ 23,008 |
| Intersegment Sales/Other | Exchanged products | ||||
| Segment Reporting Information, Profit (Loss) | ||||
| Operating revenue | $ (65) | $ (1,078) | $ (895) | $ (1,811) |
Segments - Schedule of Segment Reporting (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | |||
|---|---|---|---|---|---|
Jun. 30, 2020 |
Jun. 30, 2019 |
Jun. 30, 2020 |
Jun. 30, 2019 |
Dec. 31, 2019 |
|
| Segment Reporting Information, Profit (Loss) | |||||
| Operating revenue | $ 1,468 | $ 12,536 | $ 10,060 | $ 23,008 | |
| Operating income (loss) | (4,815) | 2,128 | (5,225) | 3,148 | |
| Interest expense (income), net | 194 | 75 | 273 | 158 | |
| Depreciation and amortization | 591 | 713 | 1,268 | 1,328 | |
| Restructuring charges | 2,454 | 0 | 2,454 | 0 | |
| Total assets, end of period | 72,261 | 62,518 | 72,261 | 62,518 | $ 64,532 |
| Capital expenditures | 282 | 1,560 | 1,218 | 2,920 | |
| Operating Segments | Airline | |||||
| Segment Reporting Information, Profit (Loss) | |||||
| Operating revenue | 1,176 | 12,496 | 9,768 | 22,920 | |
| Operating income (loss) | (4,701) | 2,091 | (5,140) | 3,145 | |
| Interest expense (income), net | 196 | 84 | 277 | 177 | |
| Depreciation and amortization | 591 | 713 | 1,268 | 1,328 | |
| Restructuring charges | 2,454 | 2,454 | |||
| Total assets, end of period | 70,707 | 60,685 | 70,707 | 60,685 | |
| Capital expenditures | 281 | 1,552 | 1,206 | 2,902 | |
| Operating Segments | Refinery | |||||
| Segment Reporting Information, Profit (Loss) | |||||
| Operating revenue | 513 | 1,501 | 1,697 | 2,785 | |
| Operating income (loss) | (114) | 37 | (85) | 3 | |
| Interest expense (income), net | (2) | (9) | (4) | (19) | |
| Depreciation and amortization | 25 | 25 | 49 | 48 | |
| Restructuring charges | 0 | 0 | |||
| Total assets, end of period | 1,554 | 1,833 | 1,554 | 1,833 | |
| Capital expenditures | 1 | 8 | 12 | 18 | |
| Intersegment Sales/Other | |||||
| Segment Reporting Information, Profit (Loss) | |||||
| Operating income (loss) | 0 | 0 | 0 | 0 | |
| Interest expense (income), net | 0 | 0 | 0 | 0 | |
| Depreciation and amortization | (25) | (25) | (49) | (48) | |
| Restructuring charges | 0 | 0 | |||
| Total assets, end of period | 0 | 0 | 0 | 0 | |
| Capital expenditures | 0 | 0 | 0 | 0 | |
| Intersegment Sales/Other | Sales to airline segment | |||||
| Segment Reporting Information, Profit (Loss) | |||||
| Operating revenue | (3) | (307) | (214) | (578) | |
| Intersegment Sales/Other | Exchanged products | |||||
| Segment Reporting Information, Profit (Loss) | |||||
| Operating revenue | (65) | (1,078) | (895) | (1,811) | |
| Intersegment Sales/Other | Sales of refined products | |||||
| Segment Reporting Information, Profit (Loss) | |||||
| Operating revenue | $ (153) | $ (76) | $ (296) | $ (308) | |
(Loss)/Earnings Per Share - Schedule of Computation for Earnings Per Share Types (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions |
3 Months Ended | 6 Months Ended | ||||
|---|---|---|---|---|---|---|
Jun. 30, 2020 |
Mar. 31, 2020 |
Jun. 30, 2019 |
Mar. 31, 2019 |
Jun. 30, 2020 |
Jun. 30, 2019 |
|
| Earnings Per Share [Abstract] | ||||||
| Net (loss)/income | $ (5,717) | $ (534) | $ 1,443 | $ 730 | $ (6,251) | $ 2,173 |
| Basic weighted average shares outstanding (shares) | 635 | 650 | 636 | 658 | ||
| Dilutive effect of share-based awards (shares) | 0 | 2 | 0 | 2 | ||
| Diluted weighted average shares outstanding (shares) | 635 | 652 | 636 | 660 | ||
| Basic (loss)/earnings per share (USD per share) | $ (9.01) | $ 2.22 | $ (9.83) | $ 3.30 | ||
| Diluted (loss)/earnings per share (USD per share) | $ (9.01) | $ 2.21 | $ (9.83) | $ 3.29 | ||
| Label | Element | Value |
|---|---|---|
| Restricted Cash, Current | us-gaap_RestrictedCashCurrent | $ 127,000,000 |
| Restricted Cash, Current | us-gaap_RestrictedCashCurrent | $ 113,000,000 |