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Previous: DELTA AIR LINES INC /DE/, 10-K405, EX-10.16, 2000-09-27 |
Next: DELTA AIR LINES INC /DE/, 10-K405, EX-13, 2000-09-27 |
<PAGE> 1
EXHIBIT 12
DELTA AIR LINES, INC.
STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In millions, except ratios)
<TABLE>
<CAPTION>
------- ------- ------- ------- -----
2000 1999 1998 1997 1996
------- ------- ------- ------- -----
<S> <C> <C> <C> <C> <C>
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
</TABLE>
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