Originally Posted by
notEnuf
Looking for the Bulletin. In the meantime, if you reverse the calculation by taking $1.1B as 16.58% of payroll you get a PTIX number around $6.5B for a $1.1B payout. There is more to the PTIX add back, $4.5B GAAP + capex + onetime expenses etc.
What was the date on CA 15-02?
$4.5B figure includes GAAP and onetime expenses. Figure comes off income statement and matches CA 15-02.
Check the 2014 earnings before tax:$1.07B
http://www.nasdaq.com/symbol/dal/financials?query=income-statement
Add in the one times and you get $4.5B. Check the 2014 DAL annual shareholder report for a more in depth accounting.
It doesn't include profit sharing payout, doesn't include management incentive exclusion. PTIX definition change under TA would "exclude" the management incentive exclusion i.e. PTIX+PS payout only.
I think the date was around 2/13/2015.
As to the $1.1B payout backward math not reconciling, I don't know the figures management is accounting for in that. Is it purely PS to eligible employees or is that INCLUSIVE of other non eligible employee PS payouts?