EX-12.1 5 dal12312016ex121.htm EXHIBIT 12.1 Exhibit


Exhibit 12.1

Delta Air Lines, Inc.
Computation of Ratio of Earnings to Fixed Charges
 
Year Ended December 31,
(in millions, except for ratio data)
2016
2015
2014
2013
2012
Earnings before income taxes
$
6,636

$
7,157

$
1,072

$
2,527

$
1,025

Add (deduct):
 
 
 
 
 
Fixed charges from below
528

584

737

947

1,116

Capitalized interest
(53
)
(36
)
(33
)
(29
)
(21
)
Earnings as adjusted
$
7,111

$
7,705

$
1,776

$
3,445

$
2,120

 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
Interest expense, including capitalized amounts and amortization of debt costs
$
472

$
534

$
691

$
891

$
1,044

Portion of rental expense representative of the interest factor
56

50

46

56

72

Fixed charges
$
528

$
584

$
737

$
947

$
1,116

 
 
 
 
 
 
Ratio of earnings to fixed charges
13.47
13.19
2.41

3.64

1.90




Special Items
 
Year Ended December 31,
(in millions)
2016
2015
2014
2013
2012
MTM adjustments and settlements
$
450

$
1,301

$
(2,346
)
$
276

$
27

Restructuring and other

(35
)
(716
)
(424
)
(452
)
Loss on extinguishment of debt


(268
)

(118
)
Virgin Atlantic MTM adjustments
115

26

(134
)


Total income (loss)
$
565

$
1,292

$
(3,464
)
$
(148
)
$
(543
)