Annual Report — Form 10-K
Filing Table of Contents
Document/Exhibit Description Pages Size
1: 10-K Delta Air Lines, Inc. 27 111K
2: EX-4.7 Credit Agreement 91 331K
4: EX-10.16 Forms of Executive Retention Protection Agreements 45 153K
3: EX-10.8 Agreement Between Delta and Ronald W. Allen 63 241K
5: EX-11 Statement Re: Computation of Per Share Earnings 2± 13K
6: EX-12 Statement Re: Computation of Ratios 1 10K
7: EX-13 Portions of Delta's 1997 Annual Report 54± 243K
8: EX-18 Letter Re: Change in Accounting Principles 1 9K
9: EX-23 Consent of Arthur Andersen 1 7K
10: EX-24 Powers of Attorney 13 25K
11: EX-27 Financial Data Schedule 1 10K
EX-12 — Statement Re: Computation of Ratios
EXHIBIT 12
DELTA AIR LINES, INC.
STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In millions, except ratios)
[Enlarge/Download Table]
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1997 1996 1995 1994 1993
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Earnings (loss):
Earnings (loss) before income taxes and cumulative
effect of accounting changes $1,415 $ 276 $ 494 $(660) $(651)
Add (deduct):
Fixed charges from below 673 582 665 689 616
Interest capitalized (33) (26) (30) (33) (62)
Interest offset on
Guaranteed Serial
ESOP Notes - (2) (4) (14) (15)
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Earnings (loss) as adjusted $2,055 $ 830 $1,125 $ (18) $(112)
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Fixed charges:
Interest expense $ 207 $ 269 $ 292 $ 304 $ 239
Portion of rental expense representative
of the interest factor 466 311 369 371 362
Additional interest on
Guaranteed Serial
ESOP Notes - 2 4 14 15
----------------------------------------------------
Total fixed charges $ 673 $ 582 $ 665 $ 689 $ 616
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Ratio of earnings to fixed charges 3.05 1.43 1.69 - -
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Earnings for the fiscal years ended June 30, 1994 and 1993 were inadequate to
cover fixed charges. Additional earnings of $707 million for the fiscal year
ended June 30, 1994, and of $728 million for the fiscal year ended June 30,
1993, would have been necessary to bring the ratio to 1.0.
Dates Referenced Herein and Documents Incorporated by Reference
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