Delta Air Lines, Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, the company reported net loss of $712 million or $0.86 per basic and diluted share on total operating revenues of $9,647 million compared to net income of $8,479 million or $9.89 per diluted share on total operating revenues of $9,076 million a year ago. Operating loss was $828 million compared to operating income of $701 million a year ago. Loss before income taxes was $1,140 million compared to income before income taxes of $475 million a year ago. Non-GAAP pretax income was $1,017 million compared to $543 million a year ago. Non-GAAP net loss was $368 million or $0.78 per diluted share compared to net income of $558 million a year ago. Net cash provided by operating activities, adjusted was $1,465 billion. Total free cash flow was $834 million. Capital expenditures, net was $620 million. Cash from operations during the December 2014 quarter was $1.5 billion, driven by the company's December quarter
profit. Cash from operations for the December 2014 quarter was $582 million. 2014 results include $1.1 billion in profit sharing expense, including $262 million in the December quarter, recognizing the employees' contributions toward meeting the company's financial goals.

For the year, the company reported net income of $659 million or $0.78 per diluted share on total operating revenues of $40,362 million compared to net income of $10,540 million or $12.29 per diluted share on total operating revenues of $37,773 million a year ago. Operating income was $2,206 million compared to $3,400 million a year ago. Income before income taxes was $1,072 million compared to $2,527 million a year ago. Non-GAAP pretax income was $4.5 million compared to $2.6 million a year ago. Non-GAAP net income was $2.8 million. Adjusted net debt was $7.3 million as on December 31, 2014. Total free cash flow was $3.7 billion. Net cash provided by operating activities was $4.9 billion.

The company provides earnings guidance for the first quarter ended March 2015. The company expects operating margin in the range of 11% to 13%. The company also expects system capacity to be up 5%; and system capacity - excluding impact of 2014 winter storms up 3% compared to first quarter of 2014.