JetBlue Airlines 2004 Annual Report Download - page 55

Download and view the complete annual report

Please find page 55 of the 2004 JetBlue Airlines annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 108

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108

JETBLUE AIRWAYS CORPORATION
CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except per share amounts)
Year Ended December 31,
2004 2003 2002
OPERATING REVENUES
Passenger ....................................... $ 1,220,758 $ 965,091 $ 615,171
Other ......................................... 45,214 33,260 20,020
Total operating revenues .......................... 1,265,972 998,351 635,191
OPERATING EXPENSES
Salaries, wages and benefits ......................... 337,118 267,334 162,191
Aircraft fuel ..................................... 255,366 147,316 76,271
Landing fees and other rents ......................... 91,181 68,691 43,881
Depreciation and amortization ....................... 76,540 50,397 26,922
Aircraft rent .................................... 70,216 59,963 40,845
Sales and marketing ............................... 63,198 53,587 44,345
Maintenance materials and repairs .................... 44,901 23,114 8,926
Other operating expenses ........................... 214,509 159,116 126,823
Total operating expenses .......................... 1,153,029 829,518 530,204
OPERATING INCOME .............................. 112,943 168,833 104,987
OTHER INCOME (EXPENSE)
Interest expense .................................. (53,478) (28,897) (21,009)
Capitalized interest ................................ 8,874 5,203 5,325
Interest income and other ........................... 8,483 7,539 5,314
Government compensation .......................... — 22,761 407
Total other income (expense) ....................... (36,121) 6,606 (9,963)
INCOME BEFORE INCOME TAXES .................... 76,822 175,439 95,024
Income tax expense ............................... 29,355 71,541 40,116
NET INCOME .................................... 47,467 103,898 54,908
Preferred stock dividends ........................... — — (5,955)
NET INCOME APPLICABLE TO COMMON
STOCKHOLDERS ................................ $ 47,467 $ 103,898 $ 48,953
EARNINGS PER COMMON SHARE:
Basic .......................................... $ 0.46 $ 1.07 $ 0.73
Diluted ........................................ $ 0.43 $ 0.96 $ 0.56
See accompanying notes to consolidated financial statements.
47