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DELTA AIR LINES, INC.
STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(IN MILLIONS, EXCEPT RATIOS) EXHIBIT 12
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Three Months Three Months Nine Months Nine Months
Ended Ended Ended Ended
March 31 March 31 March 31 March 31
2000 1999 2000 1999
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Earnings (loss):
Earnings (loss) before income taxes $ 376 $ 358 $ 1,539 $ 1,216
Add (deduct):
Fixed charges from below 263 208 687 618
Interest capitalized (12) (12) (36) (34)
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Earnings (loss) as adjusted $ 627 $ 554 $ 2,190 $ 1,800
Fixed charges:
Interest expense $ 106 $ 47 $ 249 $ 139
Portion of rental expense representative
of the interest factor 157 161 438 479
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Total fixed charges $ 263 $ 208 $ 687 $ 618
Ratio of earnings to fixed charges 2.38 2.66 3.19 2.91