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EXHIBIT 12
DELTA AIR LINES, INC.
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,
1997 1996
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Earnings :
Earnings before income taxes $ 730 $ 603
Add (deduct):
Fixed charges 335 261
Interest capitalized (18) (16)
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Earnings as adjusted $ 1,047 $ 848
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Fixed charges:
Interest expense $ 99 $ 106
Portion of rental expense representative
of the interest factor 236 155
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Total fixed charges $ 335 $ 261
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Ratio of earnings to fixed charges 3.13 3.25
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