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DELTA AIR LINES, INC. EXHIBIT 12
STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In Millions except ratios)
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Six Months Six Months
Ended Ended
December 31, December 31,
1995 1994
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Earnings (before cumulative effect of accounting change):
Income $ 270 $ 54
Add (deduct):
Income tax provision 189 45
Fixed charges 316 336
Interest capitalized (14) (15)
Interest offset on
Guaranteed Serial
ESOP Notes (1) (1)
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Earnings as adjusted $ 760 $ 419
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Fixed charges:
Interest expense $ 148 $ 150
1/3 of rentals 167 185
Additional interest on
Guaranteed Serial
ESOP Notes 1 1
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Total fixed charges $ 316 $ 336
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Ratio of earnings to fixed charges 2.41 1.25