Annual Report — Form 10-K
Filing Table of Contents
Document/Exhibit Description Pages Size
1: 10-K Delta Air Lines, Inc. 27 111K
2: EX-4.7 Credit Agreement 91 331K
4: EX-10.16 Forms of Executive Retention Protection Agreements 45 153K
3: EX-10.8 Agreement Between Delta and Ronald W. Allen 63 241K
5: EX-11 Statement Re: Computation of Per Share Earnings 2± 13K
6: EX-12 Statement Re: Computation of Ratios 1 10K
7: EX-13 Portions of Delta's 1997 Annual Report 54± 243K
8: EX-18 Letter Re: Change in Accounting Principles 1 9K
9: EX-23 Consent of Arthur Andersen 1 7K
10: EX-24 Powers of Attorney 13 25K
11: EX-27 Financial Data Schedule 1 10K
EX-18 — Letter Re: Change in Accounting Principles
EXHIBIT 18
[LETTERHEAD OF ARTHUR ANDERSEN LLP]
September 25, 1997
Delta Air Lines, Inc.
Post Office Box 20533
Atlanta, Georgia 30320-2533
Re: Form 10-K Report for the Year Ended June 30, 1997
Ladies and Gentlemen:
This letter is written to meet the requirements of Regulation S-K calling for a
letter from a registrant's independent accountants whenever there has been a
change in accounting principle or practice.
As of March 31, 1997, the Company changed the date for measuring its benefit
plan assets and liabilities from June 30 to March 31 as permitted by Statements
of Financial Accounting Standards No. 87, "Employers' Accounting for Pensions,
No. 106, "Employers' Accounting for Postretirement Benefits Other than
Pensions," and No. 112, "Employers' Accounting for Postemployment Benefits."
According to the management of the Company, this change was made in order to
obtain information necessary for the preparation of the financial statements on
a more timely basis.
A complete coordinated set of financial and reporting standards for determining
the preferability of accounting principles among acceptable alternative
principles has not been established by the accounting profession. Thus, we
cannot make an objective determination of whether the change in accounting
described in the preceding paragraph is to a preferable method. However, we have
reviewed the pertinent factors, including those related to financial reporting,
in this particular case on a subjective basis, and our opinion stated below is
based on our determination made in this manner.
We are of the opinion that the Company's change in method of accounting is to an
acceptable alternative method of accounting, which, based upon the reasons
stated for the change and our discussions with you, is also preferable under the
circumstances in this particular case. In arriving at this opinion, we have
relied on the business judgment and business planning of your management.
Very truly yours,
/S/ ARTHUR ANDERSEN LLP
Dates Referenced Herein and Documents Incorporated by Reference
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