DELTA AIR LINES, INC. EXHIBIT 12
STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In Millions except ratios)
- -------------------------------------------------------------------------------
Three Months Three Months
Ended Ended
September 30, September 30,
1994 1993
------------- -------------
Earnings (before cumulative effect of accounting changes):
Income $ 72 $ 61
Add (deduct):
Income tax provision 49 18
Fixed charges 168 175
Interest capitalized (7) (9)
Interest offset on
Guaranteed Serial
ESOP Notes (1) (3)
------------- -------------
Earnings as adjusted $ 281 $ 242
============= =============
Fixed charges:
Interest expense $ 76 $ 78
1/3 of rentals 91 94
Additional interest on
Guaranteed Serial
ESOP Notes 1 3
------------- -------------
Total fixed charges $ 168 $ 175
============= =============
Ratio of earnings to fixed charges 1.67 1.38