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Delta Air Lines income $1 billion

Staff writer |
Delta Air Lines reported financial results for the December 2014 quarter. Pre-tax income for the December 2014 quarter was $1 billion, excluding special items1, an increase of $474 million over the December 2013 quarter on a similar basis.

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Delta's net income for the December 2014 quarter was $649 million, or $0.78 per diluted share, and its operating margin was 12.6 percent, excluding special items.

For the full year 2014, Delta's pre-tax income, excluding special items, was $4.5 billion, a $1.9 billion increase over 2013. Delta's net income for the year was $2.8 billion with an operating margin of 13.1 percent, excluding special items.

On a GAAP basis including special items, Delta's December quarter pre-tax loss was $1.1 billion, operating margin was -8.6 percent and net loss was $712 million, or $0.86 per share. On a GAAP basis including special items, Delta's 2014 pre-tax income was $1.1 billion, operating margin was 5.5 percent and net income was $659 million.

2014 results include $1.1 billion in profit sharing expense, including $262 million in the December quarter, recognizing Delta employees' contributions toward meeting the company's financial goals.

The company's strong cash generation allowed it to accelerate its capital deployment plans by reducing its adjusted net debt2 to $7.3 billion, contributing an incremental $250 million above required funding to its defined benefit pension plans, and returning $1.35 billion to shareholders through a combination of $251 million of dividends and $1.1 billion of share repurchases in 2014.


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