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Investor Presentaiton

Non-GAAP Reconciliations Pre-Tax Income, Adjusted – Annual - We adjust pre-tax income for the following items to determine pre-tax income, adjusted for the reasons described below. MTM adjustments and settlements on hedges. Mark-to-market ("MTM") adjustments are defined as fair value changes recorded in periods other than the settlement period. Such fair value changes are not necessarily indicative of the actual settlement value of the underlying hedge in the contract settlement period. Settlements represent cash received or paid on hedge contracts settled during the period. Equity investment MTM adjustments. We record our proportionate share of earnings/loss from our equity investments in Virgin Atlantic and Aeroméxico in non-operating expense. We adjust for our equity method investees' MTM adjustments to allow investors to understand and analyze our core financial performance in the periods shown. Restructuring and other and Loss on extinguishment of debt. Because of the variability from period to period, the adjustments for these items are helpful to investors to analyze the company's core operational performance in the periods shown. (in billions) GAAP Adjusted for: Year Ended December 31, 2017 Year Ended December 31, 2014 $ 5.5 1.1 Year Ended December 31, 2010 $ Year Ended December 31, 2009 0.6 $ (1.6) MTM adjustments and settlements on hedges Equity investment MTM adjustments Restructuring and other Loss on extinguishment of debt Total adjustments Non-GAAP (0.3) 0.1 2.3 0.1 0.7 0.5 0.4 0.3 0.4 0.1 (0.2) 3.5 0.9 0.5 $ 5.3 $ 4.5 $ 1.5 $ (1.1) A DELTA 12
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