EX-12.1 2 g94416a1exv12w1.txt EX-12.1 STATEMENT REGARDING COMPUTATIONS OF RATIO Exhibit 12.1 DELTA AIR LINES, INC. STATEMENT REGARDING COMPUTATIONS OF RATIO OF EARNINGS TO FIXED CHARGES AND RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS (In millions, except ratios)
------- ------- ------- ------- ------- 2004 2003 2002 2001 2000 ------- ------- ------- ------- ------- Earnings (loss): Earnings (loss) before income taxes and cumulative effect of accounting change $(3,992) $(1,189) $(2,002) $(1,864) $ 1,549 Add (deduct): Fixed charges from below 1,485 1,423 1,316 1,182 1,057 (Income)/loss from equity investees -- (14) (41) 12 (59) Distributed income of equity investees -- 44 40 70 32 Amortization of capitalized interest 16 17 19 19 19 Interest capitalized (10) (12) (15) (32) (45) ------- ------- ------- ------- ------- Earnings (loss) as adjusted $(2,501) $ 269 $ (683) $ (613) $ 2,553 Fixed charges: Interest expense, including capitalized amounts and amortization of debt costs $ 834 $ 769 $ 679 $ 543 $ 427 Portion of rental expense representative of the interest factor 651 654 637 639 630 ------- ------- ------- ------- ------- Total fixed charges $ 1,485 $ 1,423 $ 1,316 $ 1,182 $ 1,057 Preferred stock dividends 19 25 24 22 22 Ratio of earnings to fixed charges -- -- -- -- 2.42 ======= ======= ======= ======= ======= Deficiency of earnings to cover fixed charges $ 3,986 $ 1,154 $ 1,999 $ 1,795 -- ======= ======= ======= ======= ======= Ratio of earnings to combined fixed charges and preferred stock dividends -- -- -- -- 2.37 ======= ======= ======= ======= ======= Deficiency of earnings to cover combined fixed charges and preferred stock dividends $ 4,005 $ 1,179 $ 2,023 $ 1,817 -- ======= ======= ======= ======= =======