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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,
1996 1995
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Earnings :
Net income $ 363 $ 270
Add (deduct):
Income tax provision 240 189
Fixed charges 261 316
Interest capitalized (16) (14)
Interest offset on
Guaranteed Serial
ESOP Notes - (1)
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Earnings as adjusted $ 848 $ 760
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Fixed charges:
Interest expense $ 106 $ 148
1/3 of rentals 155 167
Additional interest on
Guaranteed Serial
ESOP Notes - 1
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Total fixed charges $ 261 $ 316
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Ratio of earnings to fixed charges 3.25 2.41
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