JetBlue Airlines 2005 Annual Report Download - page 55

Download and view the complete annual report

Please find page 55 of the 2005 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 100

  • 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

JETBLUE AIRWAYS CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
Year Ended December 31,
2005 2004 2003
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss) .......................................... $ (20) $ 46 $ 103
Adjustments to reconcile net income to net cash provided by
operating activities:
Deferred income taxes .................................. (4) 29 69
Depreciation........................................... 101 67 45
Amortization .......................................... 16 11 7
Stock-based compensation............................... 9 2 2
Changes in certain operating assets and liabilities:
Increase in receivables ................................ (28) (20) (4)
Increase in inventories, prepaid and other ............... (20) (6) (11)
Increase in air traffic liability .......................... 69 39 37
Increase in accounts payable and other accrued liabilities . 54 21 38
Other, net ............................................. (7) 10 1
Net cash provided by operating activities ................ 170 199 287
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures ........................................ (941) (617) (573)
Predelivery deposits for flight equipment ...................... (183) (180) (160)
Purchase of held-to-maturity investments...................... (5) (19) (26)
Proceeds from maturities of held-to-maturity investments ....... 18 25 9
Decrease (increase) in available-for-sale securities .............. (79) 76 (235)
Increase in security deposits ................................. (86) (5) (2)
Net cash used in investing activities..................... (1,276) (720) (987)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from:
Issuance of common stock................................. 178 20 136
Issuance of long-term debt ................................ 872 499 446
Aircraft sale and leaseback transactions ..................... 152 — 265
Short-term borrowings .................................... 68 44 33
Repayment of long-term debt................................ (117) (77) (57)
Repayment of short-term borrowings ......................... (47) (30) (25)
Other, net ................................................. (13) (19) (9)
Net cash provided by financing activities ................ 1,093 437 789
INCREASE (DECREASE) IN CASH AND CASH
EQUIVALENTS........................................... (13) (84) 89
Cash and cash equivalents at beginning of period ................ 19 103 14
Cash and cash equivalents at end of period ...................... $ 6 $ 19 $ 103
See accompanying notes to consolidated financial statements.
47