It doesn't matter once profit exceeds $2.5B - anything above is paid out at 20%. The "worst case", if you want to look at it that way, is if DL makes exactly $2.5B.

To keep the math easy, lets say $2.5B used to be (prior to C2012) worth $15 in profit sharing to the pilot group. Now under C2012 its worth $10. We lose a full $5 in profit sharing (the company gains the max advantage of the profit sharing reduction.) This $5 is roughly equal to 2% in pilot pay for the year.

Now, lets say DL only makes $1.25B (half of the example above.). Under C2012 this is worth $5 to the pilot group in profit sharing. But now, since we converted 5% to our hourly rates, you still get the $5 from above, bringing us to a net of $10. Under the old contract, the profit sharing would have been equivalent to $7.50 - or $2.50 less than C2012.

If DL loses money, or breaks even, you still get the $5. At this end of the range Delta received the minimum benefit of the reduction, as they saved nothing but still had to pay us the $5 that was turned into pilot pay rates. Bottom line it takes some of our risk out of the equation.