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.