Exhibit 12
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)
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)
Three Months Ended | Six Months Ended | |||||||||||||||
June 30, | June 30, | |||||||||||||||
2005 | 2004 | 2005 | 2004 | |||||||||||||
Earnings (loss): | ||||||||||||||||
Loss before income taxes | $ | (400 | ) | $ | (429 | ) | $ | (1,615 | ) | $ | (1,027 | ) | ||||
Add (deduct): | ||||||||||||||||
Fixed charges from below | 442 | 365 | 857 | 725 | ||||||||||||
Loss from equity investees | — | — | — | (3 | ) | |||||||||||
Amortization of capitalized interest | 5 | 4 | 9 | 8 | ||||||||||||
Interest capitalized | (2 | ) | (3 | ) | (4 | ) | (5 | ) | ||||||||
Loss as adjusted | $ | 44 | $ | (63 | ) | $ | (753 | ) | $ | (302 | ) | |||||
Fixed charges: | ||||||||||||||||
Interest expense, including capitalized amounts and amortization of debt costs | $ | 290 | $ | 200 | $ | 560 | $ | 396 | ||||||||
Portion of rental expense representative of the interest factor | 152 | 165 | 297 | 329 | ||||||||||||
Total fixed charges | $ | 442 | $ | 365 | $ | 857 | $ | 725 | ||||||||
Preferred stock dividends | $ | 6 | $ | 5 | $ | 11 | $ | 9 | ||||||||
Ratio of earnings to fixed charges | 0.10 | (0.17 | ) | (0.88 | ) | (0.42 | ) | |||||||||
Deficiency of earnings to cover fixed charges | $ | 398 | $ | 428 | $ | 1,610 | $ | 1,027 | ||||||||
Ratio of earnings to combined fixed charges and preferred stock dividends | 0.10 | (0.17 | ) | (0.87 | ) | (0.41 | ) | |||||||||
Deficiency of earnings to cover combined fixed charges and preferred stock dividends | $ | 404 | $ | 433 | $ | 1,621 | $ | 1,036 | ||||||||