To delete the selected report or folder, choose Delete from the File menu, right-click anywhere in the Reports Explorer and choose Delete from the shortcut menu, or press the Delete key. You are asked to confirm that the report or folder should be deleted. If you confirm its deletion, the report or folder is removed from the list in the Reports Explorer. If you delete a folder that contains any reports or other folders, those reports and folders (and the reports in those folders) are deleted.
Note that you cannot delete any of the Favorites folders. Also, if a report exists in more than one folder, deleting it from one folder doesn't delete from any other folders. You have to delete it from each folder it belongs in to completely remove the report.
This button may not be enabled for all reports.