ACQUISITION OF VIRGIN AMERICA, INC. (Tables)

12 Months Ended

Dec. 31, 2017

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

Fair values of the assets acquired and the liabilities assumed as of the acquisition date, December 14, 2016, at December 31, 2017 and December 31, 2016 were as follows (in millions):



	December 31, 2017			December 31, 2016
Cash and cash equivalents	$	645		$	645
Receivables	53			44
Prepaid expenses and other current assets	18			16
Property and equipment	571			560
Intangible assets	141			143
Goodwill	1,943			1,934
Other assets	89			84
Total assets	3,460			3,426

Accounts payable	22			22
Accrued wages, vacation and payroll taxes	54			51
Air traffic liabilities	172			172
Other accrued liabilities	198			196
Current portion of long-term debt	125			125
Long-term debt, net of current portion	360			360
Deferred income taxes	(300		)	(304		)
Deferred revenue	126			126
Other liabilities	107			82
Total liabilities	864			830

Total purchase price	$	2,596		$	2,596

Business Acquisition, Pro Forma Information

Accordingly, the unaudited pro forma financial information below is not necessarily indicative of either future results of operations or results that might have been achieved had the acquisition been consummated as of January 1, 2015.



(in millions, except per share amounts)	Years Ended December 31,
	2016		2015
Revenue	$	7,511	$	7,111
Net Income	1,008		914