EX-12 3 g74838ex12.txt STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS EXHIBIT 12 DELTA AIR LINES, INC. STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (In millions, except ratios)
---------- ---------- --------- --------- -------- 2001 2000 1999 1998 1997 ---------- ---------- --------- --------- -------- Earnings (loss): Earnings (loss) before income taxes and cumulative effect of accounting change $(1,864) $ 1,549 $ 2,093 $ 1,776 $ 1,543 Add (deduct): Fixed charges from below 1,178 1,056 800 682 675 Interest capitalized (32) (45) (48) (40) (36) Earnings (loss) as adjusted $ (718) $ 2,560 $ 2,845 $ 2,418 $ 2,182 Fixed charges: Interest expense $ 531 $ 426 $ 250 $ 179 $ 201 Portion of rental expense 647 630 550 503 474 representative of the interest factor Total fixed charges $ 1,178 $ 1,056 $ 800 $ 682 $ 675 Ratio of earnings to fixed charges (0.61) 2.42 3.56 3.55 3.23