Analysis of Solvency Ratios
Solvency ratios also known as long-term debt ratios measure a company ability to meet long-term obligations.
Solvency Ratios (Summary)
Delta Air Lines Inc., solvency ratios
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Delta Air Lines Inc. debt to equity ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level. |
| Debt to equity ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. | Delta Air Lines Inc. debt to equity ratio (including operating lease liability) deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level. |
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Delta Air Lines Inc. debt to capital ratio deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021. |
| Debt to capital ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. | Delta Air Lines Inc. debt to capital ratio (including operating lease liability) deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021. |
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Delta Air Lines Inc. debt to assets ratio deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021. |
| Debt to assets ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | Delta Air Lines Inc. debt to assets ratio (including operating lease liability) deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021. |
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Delta Air Lines Inc. financial leverage ratio increased from 2019 to 2020 but then slightly decreased from 2020 to 2021 not reaching 2019 level. |
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Delta Air Lines Inc. interest coverage ratio deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021. |
| Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | Delta Air Lines Inc. fixed charge coverage ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level. |
Debt to Equity
Delta Air Lines Inc., debt to equity calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Current maturities of debt and finance leases | 1,782) | 1,732) | 2,287) | 1,518) | 2,242) | |
| Debt and finance leases, excluding current maturities | 25,138) | 27,425) | 8,873) | 8,253) | 6,592) | |
| Total debt | 26,920) | 29,157) | 11,160) | 9,771) | 8,834) | |
| Stockholders’ equity | 3,887) | 1,534) | 15,358) | 13,687) | 13,910) | |
| Solvency Ratio | ||||||
| Debt to equity1 | 6.93 | 19.01 | 0.73 | 0.71 | 0.64 | |
| Benchmarks | ||||||
| Debt to Equity, Competitors2 | ||||||
| FedEx Corp. | 0.86 | 1.20 | 0.99 | 0.85 | — | |
| Uber Technologies Inc. | 0.66 | 0.64 | 0.43 | — | — | |
| Union Pacific Corp. | 2.10 | 1.58 | 1.39 | — | — | |
| United Parcel Service Inc. | 1.54 | 37.53 | 7.73 | — | — | |
| Debt to Equity, Sector | ||||||
| Transportation | 1.22 | 1.69 | 1.39 | — | — | |
| Debt to Equity, Industry | ||||||
| Industrials | 1.22 | 1.68 | 1.79 | — | — | |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
1 2021 Calculation
Debt to equity = Total debt ÷ Stockholders’ equity
= 26,920 ÷ 3,887 = 6.93
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Delta Air Lines Inc. debt to equity ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level. |
Debt to Equity (including Operating Lease Liability)
Delta Air Lines Inc., debt to equity (including operating lease liability) calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Current maturities of debt and finance leases | 1,782) | 1,732) | 2,287) | 1,518) | 2,242) | |
| Debt and finance leases, excluding current maturities | 25,138) | 27,425) | 8,873) | 8,253) | 6,592) | |
| Total debt | 26,920) | 29,157) | 11,160) | 9,771) | 8,834) | |
| Current maturities of operating leases | 703) | 678) | 801) | 955) | —) | |
| Noncurrent operating leases | 7,056) | 5,713) | 5,294) | 5,801) | —) | |
| Total debt (including operating lease liability) | 34,679) | 35,548) | 17,255) | 16,527) | 8,834) | |
| Stockholders’ equity | 3,887) | 1,534) | 15,358) | 13,687) | 13,910) | |
| Solvency Ratio | ||||||
| Debt to equity (including operating lease liability)1 | 8.92 | 23.17 | 1.12 | 1.21 | 0.64 | |
| Benchmarks | ||||||
| Debt to Equity (including Operating Lease Liability), Competitors2 | ||||||
| FedEx Corp. | 1.51 | 1.97 | 0.99 | 0.85 | — | |
| Uber Technologies Inc. | 0.79 | 0.78 | 0.55 | — | — | |
| Union Pacific Corp. | 2.22 | 1.67 | 1.49 | — | — | |
| United Parcel Service Inc. | 1.79 | 42.24 | 8.62 | — | — | |
| Debt to Equity (including Operating Lease Liability), Sector | ||||||
| Transportation | 1.56 | 2.11 | 1.51 | — | — | |
| Debt to Equity (including Operating Lease Liability), Industry | ||||||
| Industrials | 1.36 | 1.83 | 1.89 | — | — | |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
1 2021 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Stockholders’ equity
= 34,679 ÷ 3,887 = 8.92
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. | Delta Air Lines Inc. debt to equity ratio (including operating lease liability) deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level. |
Debt to Capital
Delta Air Lines Inc., debt to capital calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Current maturities of debt and finance leases | 1,782) | 1,732) | 2,287) | 1,518) | 2,242) | |
| Debt and finance leases, excluding current maturities | 25,138) | 27,425) | 8,873) | 8,253) | 6,592) | |
| Total debt | 26,920) | 29,157) | 11,160) | 9,771) | 8,834) | |
| Stockholders’ equity | 3,887) | 1,534) | 15,358) | 13,687) | 13,910) | |
| Total capital | 30,807) | 30,691) | 26,518) | 23,458) | 22,744) | |
| Solvency Ratio | ||||||
| Debt to capital1 | 0.87 | 0.95 | 0.42 | 0.42 | 0.39 | |
| Benchmarks | ||||||
| Debt to Capital, Competitors2 | ||||||
| FedEx Corp. | 0.46 | 0.55 | 0.50 | 0.46 | — | |
| Uber Technologies Inc. | 0.40 | 0.39 | 0.30 | — | — | |
| Union Pacific Corp. | 0.68 | 0.61 | 0.58 | — | — | |
| United Parcel Service Inc. | 0.61 | 0.97 | 0.89 | — | — | |
| Debt to Capital, Sector | ||||||
| Transportation | 0.55 | 0.63 | 0.58 | — | — | |
| Debt to Capital, Industry | ||||||
| Industrials | 0.55 | 0.63 | 0.64 | — | — | |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
1 2021 Calculation
Debt to capital = Total debt ÷ Total capital
= 26,920 ÷ 30,807 = 0.87
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Delta Air Lines Inc. debt to capital ratio deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021. |
Debt to Capital (including Operating Lease Liability)
Delta Air Lines Inc., debt to capital (including operating lease liability) calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Current maturities of debt and finance leases | 1,782) | 1,732) | 2,287) | 1,518) | 2,242) | |
| Debt and finance leases, excluding current maturities | 25,138) | 27,425) | 8,873) | 8,253) | 6,592) | |
| Total debt | 26,920) | 29,157) | 11,160) | 9,771) | 8,834) | |
| Current maturities of operating leases | 703) | 678) | 801) | 955) | —) | |
| Noncurrent operating leases | 7,056) | 5,713) | 5,294) | 5,801) | —) | |
| Total debt (including operating lease liability) | 34,679) | 35,548) | 17,255) | 16,527) | 8,834) | |
| Stockholders’ equity | 3,887) | 1,534) | 15,358) | 13,687) | 13,910) | |
| Total capital (including operating lease liability) | 38,566) | 37,082) | 32,613) | 30,214) | 22,744) | |
| Solvency Ratio | ||||||
| Debt to capital (including operating lease liability)1 | 0.90 | 0.96 | 0.53 | 0.55 | 0.39 | |
| Benchmarks | ||||||
| Debt to Capital (including Operating Lease Liability), Competitors2 | ||||||
| FedEx Corp. | 0.60 | 0.66 | 0.50 | 0.46 | — | |
| Uber Technologies Inc. | 0.44 | 0.44 | 0.35 | — | — | |
| Union Pacific Corp. | 0.69 | 0.63 | 0.60 | — | — | |
| United Parcel Service Inc. | 0.64 | 0.98 | 0.90 | — | — | |
| Debt to Capital (including Operating Lease Liability), Sector | ||||||
| Transportation | 0.61 | 0.68 | 0.60 | — | — | |
| Debt to Capital (including Operating Lease Liability), Industry | ||||||
| Industrials | 0.58 | 0.65 | 0.65 | — | — | |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
1 2021 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 34,679 ÷ 38,566 = 0.90
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. | Delta Air Lines Inc. debt to capital ratio (including operating lease liability) deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021. |
Debt to Assets
Delta Air Lines Inc., debt to assets calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Current maturities of debt and finance leases | 1,782) | 1,732) | 2,287) | 1,518) | 2,242) | |
| Debt and finance leases, excluding current maturities | 25,138) | 27,425) | 8,873) | 8,253) | 6,592) | |
| Total debt | 26,920) | 29,157) | 11,160) | 9,771) | 8,834) | |
| Total assets | 72,459) | 71,996) | 64,532) | 60,266) | 53,292) | |
| Solvency Ratio | ||||||
| Debt to assets1 | 0.37 | 0.40 | 0.17 | 0.16 | 0.17 | |
| Benchmarks | ||||||
| Debt to Assets, Competitors2 | ||||||
| FedEx Corp. | 0.25 | 0.30 | 0.32 | 0.32 | — | |
| Uber Technologies Inc. | 0.25 | 0.24 | 0.19 | — | — | |
| Union Pacific Corp. | 0.47 | 0.43 | 0.41 | — | — | |
| United Parcel Service Inc. | 0.32 | 0.40 | 0.44 | — | — | |
| Debt to Assets, Sector | ||||||
| Transportation | 0.32 | 0.35 | 0.36 | — | — | |
| Debt to Assets, Industry | ||||||
| Industrials | 0.29 | 0.32 | 0.32 | — | — | |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
1 2021 Calculation
Debt to assets = Total debt ÷ Total assets
= 26,920 ÷ 72,459 = 0.37
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Delta Air Lines Inc. debt to assets ratio deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021. |
Debt to Assets (including Operating Lease Liability)
Delta Air Lines Inc., debt to assets (including operating lease liability) calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Current maturities of debt and finance leases | 1,782) | 1,732) | 2,287) | 1,518) | 2,242) | |
| Debt and finance leases, excluding current maturities | 25,138) | 27,425) | 8,873) | 8,253) | 6,592) | |
| Total debt | 26,920) | 29,157) | 11,160) | 9,771) | 8,834) | |
| Current maturities of operating leases | 703) | 678) | 801) | 955) | —) | |
| Noncurrent operating leases | 7,056) | 5,713) | 5,294) | 5,801) | —) | |
| Total debt (including operating lease liability) | 34,679) | 35,548) | 17,255) | 16,527) | 8,834) | |
| Total assets | 72,459) | 71,996) | 64,532) | 60,266) | 53,292) | |
| Solvency Ratio | ||||||
| Debt to assets (including operating lease liability)1 | 0.48 | 0.49 | 0.27 | 0.27 | 0.17 | |
| Benchmarks | ||||||
| Debt to Assets (including Operating Lease Liability), Competitors2 | ||||||
| FedEx Corp. | 0.44 | 0.49 | 0.32 | 0.32 | — | |
| Uber Technologies Inc. | 0.29 | 0.29 | 0.24 | — | — | |
| Union Pacific Corp. | 0.50 | 0.45 | 0.44 | — | — | |
| United Parcel Service Inc. | 0.37 | 0.44 | 0.49 | — | — | |
| Debt to Assets (including Operating Lease Liability), Sector | ||||||
| Transportation | 0.41 | 0.44 | 0.39 | — | — | |
| Debt to Assets (including Operating Lease Liability), Industry | ||||||
| Industrials | 0.32 | 0.35 | 0.34 | — | — | |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
1 2021 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 34,679 ÷ 72,459 = 0.48
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to assets ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | Delta Air Lines Inc. debt to assets ratio (including operating lease liability) deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021. |
Financial Leverage
Delta Air Lines Inc., financial leverage calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Total assets | 72,459) | 71,996) | 64,532) | 60,266) | 53,292) | |
| Stockholders’ equity | 3,887) | 1,534) | 15,358) | 13,687) | 13,910) | |
| Solvency Ratio | ||||||
| Financial leverage1 | 18.64 | 46.93 | 4.20 | 4.40 | 3.83 | |
| Benchmarks | ||||||
| Financial Leverage, Competitors2 | ||||||
| FedEx Corp. | 3.43 | 4.02 | 3.06 | 2.70 | — | |
| Uber Technologies Inc. | 2.68 | 2.71 | 2.24 | — | — | |
| Union Pacific Corp. | 4.49 | 3.68 | 3.40 | — | — | |
| United Parcel Service Inc. | 4.87 | 94.99 | 17.71 | — | — | |
| Financial Leverage, Sector | ||||||
| Transportation | 3.80 | 4.81 | 3.86 | — | — | |
| Financial Leverage, Industry | ||||||
| Industrials | 4.27 | 5.25 | 5.63 | — | — | |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
1 2021 Calculation
Financial leverage = Total assets ÷ Stockholders’ equity
= 72,459 ÷ 3,887 = 18.64
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Delta Air Lines Inc. financial leverage ratio increased from 2019 to 2020 but then slightly decreased from 2020 to 2021 not reaching 2019 level. |
Interest Coverage
Delta Air Lines Inc., interest coverage calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net income (loss) | 280) | (12,385) | 4,767) | 3,935) | 3,577) | |
| Add: Income tax expense | 118) | (3,202) | 1,431) | 1,216) | 2,124) | |
| Add: Interest expense, net | 1,279) | 929) | 301) | 311) | 396) | |
| Earnings before interest and tax (EBIT) | 1,677) | (14,658) | 6,499) | 5,462) | 6,097) | |
| Solvency Ratio | ||||||
| Interest coverage1 | 1.31 | -15.78 | 21.59 | 17.56 | 15.40 | |
| Benchmarks | ||||||
| Interest Coverage, Competitors2 | ||||||
| FedEx Corp. | 9.42 | 3.48 | 2.11 | 8.80 | — | |
| Uber Technologies Inc. | -1.20 | -14.24 | -14.15 | — | — | |
| Union Pacific Corp. | 8.33 | 7.12 | 8.38 | — | — | |
| United Parcel Service Inc. | 24.91 | 3.63 | 9.66 | — | — | |
| Interest Coverage, Sector | ||||||
| Transportation | 10.81 | 2.18 | 2.96 | — | — | |
| Interest Coverage, Industry | ||||||
| Industrials | 6.21 | 2.23 | 4.59 | — | — | |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
1 2021 Calculation
Interest coverage = EBIT ÷ Interest expense
= 1,677 ÷ 1,279 = 1.31
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Delta Air Lines Inc. interest coverage ratio deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021. |
Fixed Charge Coverage
Delta Air Lines Inc., fixed charge coverage calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net income (loss) | 280) | (12,385) | 4,767) | 3,935) | 3,577) | |
| Add: Income tax expense | 118) | (3,202) | 1,431) | 1,216) | 2,124) | |
| Add: Interest expense, net | 1,279) | 929) | 301) | 311) | 396) | |
| Earnings before interest and tax (EBIT) | 1,677) | (14,658) | 6,499) | 5,462) | 6,097) | |
| Add: Operating lease cost | 863) | 1,019) | 1,013) | 994) | 1,300) | |
| Earnings before fixed charges and tax | 2,540) | (13,639) | 7,512) | 6,456) | 7,397) | |
| Interest expense, net | 1,279) | 929) | 301) | 311) | 396) | |
| Operating lease cost | 863) | 1,019) | 1,013) | 994) | 1,300) | |
| Fixed charges | 2,142) | 1,948) | 1,314) | 1,305) | 1,696) | |
| Solvency Ratio | ||||||
| Fixed charge coverage1 | 1.19 | -7.00 | 5.72 | 4.95 | 4.36 | |
| Benchmarks | ||||||
| Fixed Charge Coverage, Competitors2 | ||||||
| FedEx Corp. | 2.83 | 1.50 | 1.19 | 2.25 | — | |
| Uber Technologies Inc. | -0.36 | -6.43 | -8.62 | — | — | |
| Union Pacific Corp. | 6.81 | 5.79 | 6.62 | — | — | |
| United Parcel Service Inc. | 12.66 | 2.31 | 5.36 | — | — | |
| Fixed Charge Coverage, Sector | ||||||
| Transportation | 5.20 | 1.49 | 1.80 | — | — | |
| Fixed Charge Coverage, Industry | ||||||
| Industrials | 4.04 | 1.71 | 3.07 | — | — | |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
1 2021 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= 2,540 ÷ 2,142 = 1.19
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | Delta Air Lines Inc. fixed charge coverage ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level. |