EX-12 6 g64299ex12.txt STATEMENT REGARDING COMPUTATION OF RATIO 1 EXHIBIT 12 DELTA AIR LINES, INC. STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (In millions, except ratios)
------- ------- ------- ------- ----- 2000 1999 1998 1997 1996 ------- ------- ------- ------- ----- Earnings (loss): Earnings (loss) before income taxes and cumulative effect of accounting change $ 2,283 $ 1,826 $ 1,648 $ 1,415 $ 276 Add (deduct): Fixed charges from below 952 728 669 673 582 Interest capitalized (49) (46) (38) (33) (26) Interest offset on Guaranteed Serial ESOP Notes -- -- -- -- (2) ------- ------- ------- ------- ----- Earnings (loss) as adjusted $ 3,186 $ 2,508 $ 2,279 $ 2,055 $ 830 Fixed charges: Interest expense $ 354 $ 199 $ 186 $ 207 $ 269 Portion of rental expense representative of the interest factor 598 529 483 466 311 Additional interest on Guaranteed Serial ESOP Notes -- -- -- -- 2 ------- ------- ------- ------- ----- Total fixed charges $ 952 $ 728 $ 669 $ 673 $ 582 Ratio of earnings to fixed charges 3.35 3.45 3.41 3.05 1.43