EX-12 8 g77552exv12.txt EXHIBIT 12 COMPUTATION OF RATIO OF EARNINGS EXHIBIT 12 DELTA AIR LINES, INC. STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS (LOSS) TO FIXED CHARGES (In millions, except ratios)
Three Months Three Months Six Months Six Months Ended Ended Ended Ended June 30, June 30, June 30, June 30, 2002 2001 2002 2001 ------------ ------------ ---------- ---------- Earnings (loss) Loss before income taxes $(287) $ (99) $(889) $(321) Add (deduct) Fixed charges from below 330 287 645 568 Interest capitalized (4) (10) (10) (19) ----- ----- ----- ----- Earnings (loss) as adjusted $ 39 $ 178 $(254) $ 228 Fixed charges Interest expense $ 168 $ 127 $ 325 $ 247 Portion of rental expense representative of the interest factor 162 160 320 321 ----- ----- ----- ----- Total fixed charges $ 330 $ 287 $ 645 $ 568 Ratio of earnings (loss) to fixed charges (1) 0.12 0.62 (0.39) 0.40
(1) Fixed charges exceeded our adjusted earnings (loss) by $291 million and $899 million for the three and six months ended June 30, 2002, respectively, and $109 million and $340 million for the three and six months ended June 30, 2001, respectively.