3 unchanged sentences
As of January 31, 2021, there were approximately 2,300 holders of record of our common stock.
−Removed: Our Board of Directors initiated a quarterly dividend program in the September 2013 quarter and has increased the quarterly dividend payment several times, most recently to $0.4025 per share in the September 2019 quarter.
−Removed: The Board expects to be able to continue to pay cash dividends for the foreseeable future, subject to applicable limitations under Delaware law and compliance with covenants in certain of our credit facilities.
−Removed: Dividend payments are dependent upon our results of operations, financial condition, cash requirements, future prospects and other factors deemed relevant by the Board of Directors.
+Added: Our Board of Directors initiated a quarterly dividend program in the September 2013 quarter and had increased the quarterly dividend payment several times, most recently to $0.4025 per share in the September 2019 quarter.
+Added: In March 2020 we suspended future dividends due to the impact of the COVID-19 pandemic.
+Added: The CARES Act payroll support program initially restricted the payment of dividends through September 2021, which has been continued to March 2022 under the terms of the payroll support program extension.
+Added: Dividend payments beyond that time will be dependent upon our results of operations, financial condition, cash requirements, future prospects and other factors deemed relevant by the Board of Directors.
Stock Performance Graph
1 unchanged sentence
The comparison assumes $100 was invested on December 31, 2015 in each of our common stock and the indices and assumes that all dividends were reinvested.
+Added: Delta Air Lines, Inc.
+Added: 2020 Form 10-K 28
+Added: Market Information
Issuer Purchases of Equity Securities
The following table presents information with respect to purchases of common stock we made during the December 2020 quarter.
−Removed: The total number of shares purchased includes shares repurchased pursuant to our $5 billion share repurchase program, which was publicly announced on May 11, 2017 and will terminate no later than December 31, 2020.
−Removed: Some purchases made in the December 2019 quarter were made pursuant to a trading plan meeting the requirements of Rule 10b5-1 under the Securities Exchange Act of 1934.
−Removed: In addition, the table includes shares withheld from employees to satisfy certain tax obligations due in connection with grants of stock under the Delta Air Lines, Inc.
+Added: In March 2020, we suspended our share repurchase program due to the impact of the COVID-19 pandemic and are restricted from conducting share repurchases through March 2022 under the payroll support program extension.
+Added: Therefore, there were no shares repurchased in the December 2020 quarter pursuant to our share repurchase program.
+Added: The table reflects shares withheld from employees to satisfy certain tax obligations due in connection with grants of stock under the Delta Air Lines, Inc.
Performance Compensation Plan (the "Plan").
2 unchanged sentences
The shares of common stock withheld to satisfy tax withholding obligations may be deemed to be "issuer purchases" of shares that are required to be disclosed pursuant to this Item.
+Added: Shares purchased / withheld from employee awards during the December 2020 quarter
Period Total Number of Shares Purchased Average Price Paid Per Share Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs Approximate Dollar Value (in millions) of Shares That May Yet Be Purchased Under the Plan or Programs
3 unchanged sentences
Total 19,981 19,981
−Removed: SELECTED FINANCIAL DATA
−Removed: The following tables are derived from our audited Consolidated Financial Statements and present selected financial and operating data as of and for the five years ended December 31, 2019.
−Removed: We adopted Accounting Standards Update No.
−Removed: 2014-09, “Revenue from Contracts with Customers (Topic 606)” using the full retrospective transition method in 2018 and recast results from 2016 and 2017 including interim periods therein.
−Removed: Results from 2015 have not been recast for the adoption of this standard.
−Removed: Consolidated Summary of Operations
−Removed: Year Ended December 31,
−Removed: (in millions, except share data) 2019 2018 2017 2016 2015
−Removed: Operating revenue $ 47,007 $ 44,438 $ 41,138 $ 39,450 $ 40,704
−Removed: Operating expense 40,389 39,174 35,172 32,454 32,902
−Removed: Operating income 6,618 5,264 5,966 6,996 7,802
−Removed: Non-operating expense, net (420) (113) (466) (643) (645)
−Removed: Income before income taxes 6,198 5,151 5,500 6,353 7,157
−Removed: Income tax provision (1,431) (1,216) (2,295) (2,158) (2,631)
−Removed: Net income $ 4,767 $ 3,935 $ 3,205 $ 4,195 $ 4,526
−Removed: Basic earnings per share $ 7.32 $ 5.69 $ 4.45 $ 5.59 $ 5.68
−Removed: Diluted earnings per share $ 7.30 $ 5.67 $ 4.43 $ 5.55 $ 5.63
−Removed: Cash dividends declared per share $ 1.51 $ 1.31 $ 1.02 $ 0.68 $ 0.45
−Removed: Supplemental Information
−Removed: The supplemental information below represents the adjustments used in our non-GAAP financial measures.
−Removed: Management's Discussion and Analysis of Financial Condition and Results of Operations" where our non-GAAP financial measures are defined and reconciled.
−Removed: Amounts presented below are stated before consideration of income taxes, except for the impact of the Tax Cuts and Jobs Act.
−Removed: Year Ended December 31,
−Removed: (in millions) 2019 2018 2017 2016 2015
−Removed: MTM adjustments and settlements on hedges $ 14 $ (53) $ 259 $ 450 $ 1,301
−Removed: Restructuring and other — — — — (35)
−Removed: Equity investment MTM adjustments (14) 29 (8) 115 26
−Removed: MTM adjustments on investments 13 (14) — — —
−Removed: Tax Cuts and Jobs Act — — (394) — —
−Removed: Consolidated Balance Sheet Data
−Removed: We adopted Accounting Standards Update No.
−Removed: 2016-02, "Leases (Topic 842)," using the modified retrospective approach in 2018.
−Removed: Financial statements prior to 2018 were not recast for the adoption of this standard.
−Removed: (in millions) 2019 2018 2017 2016 2015
−Removed: Total assets $ 64,532 $ 60,266 $ 53,671 $ 51,850 $ 53,134
−Removed: Debt and finance leases (including current maturities) 11,160 9,771 8,834 7,332 8,329
−Removed: Stockholders' equity 15,358 13,687 12,530 11,277 10,850
−Removed: Other Financial and Statistical Data (Unaudited)
−Removed: Year Ended December 31,
−Removed: Consolidated (1)
−Removed: 2019 2018 2017 2016 2015
−Removed: Revenue passenger miles (in millions) 237,680 225,243 217,712 213,098 209,625
−Removed: Available seat miles (in millions) 275,379 263,365 254,325 251,867 246,764
−Removed: Passenger mile yield 17.79 ¢ 17.65 ¢ 16.97 ¢ 16.81 ¢ 16.59 ¢
−Removed: Passenger revenue per available seat mile 15.35 ¢ 15.09 ¢ 14.53 ¢ 14.22 ¢ 14.10 ¢
−Removed: Total revenue per available seat mile 17.07 ¢ 16.87 ¢ 16.18 ¢ 15.66 ¢ 16.50 ¢
−Removed: Operating cost per available seat mile 14.67 ¢ 14.87 ¢ 13.83 ¢ 12.89 ¢ 13.33 ¢
−Removed: Passenger load factor 86.3 % 85.5 % 85.6 % 84.6 % 84.9 %
−Removed: Fuel gallons consumed (in millions) 4,214 4,113 4,032 4,016 3,988
−Removed: Average price per fuel gallon (2)
−Removed: $ 2.02 $ 2.20 $ 1.68 $ 1.49 $ 1.90
−Removed: Full-time equivalent employees, end of period 91,224 88,680 86,564 83,756 82,949
−Removed: (1) Includes the operations of our regional carriers under capacity purchase agreements.
−Removed: Full-time equivalent employees exclude employees of regional carriers that we do not own.
−Removed: (2) Includes the impact of fuel hedge activity and refinery segment results.
+Added: Delta Air Lines, Inc.
+Added: 2020 Form 10-K 29
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.