EXHIBIT 12
DELTA AIR LINES, INC.
STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In millions, except ratios)
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Three Months Three Months Six Months Six Months
Ended Ended Ended Ended
December 31 December 31 December 31 December 31
1998 1997 1998 1997
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Earnings (loss):
Earnings (loss) before income taxes $ 320 $ 313 $ 858 $ 730
Add (deduct):
Fixed charges from below 198 194 410 397
Interest capitalized (12) (10) (22) (18)
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Earnings (loss) as adjusted $ 506 $ 497 $1,246 $1,109
Fixed charges:
Interest expense $ 43 $ 49 $ 92 $ 99
Portion of rental expense representative of the
interest factor 155 145 318 298
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Total fixed charges $ 198 $ 194 $ 410 $ 397
Ratio of earnings to fixed charges 2.56 2.56 3.04 2.79