JetBlue Airlines 2006 Annual Report Download - page 35

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ITEM 6. SELECTED FINANCIAL DATA
The following financial information for the five years ended December 31, 2006 has been derived
from our consolidated financial statements. This information should be read in conjunction with the
consolidated financial statements and related notes thereto included elsewhere in this report.
Year Ended December 31,
2006 2005 2004 2003 2002
(in millions, except per share data)
Statements of Operations Data:
Operating revenues ..................... $ 2,363 $ 1,701 $ 1,265 $ 998 $ 635
Operating expenses:
Salaries, wages and benefits ............ 553 428 337 267 162
Aircraft fuel ......................... 752 488 255 147 76
Landing fees and other rents ........... 158 112 92 70 44
Depreciation and amortization ......... 151 115 77 51 27
Aircraft rent ......................... 103 74 70 60 41
Sales and marketing................... 104 81 63 54 44
Maintenance materials and repairs ...... 87 64 45 23 9
Other operating expenses (1)........... 328 291 215 159 127
Total operating expenses (2) ......... 2,236 1,653 1,154 831 530
Operating income....................... 127 48 111 167 105
Government compensation (3) ........... — — — 23 —
Other income (expense) ................. (118) (72) (36) (16) (10)
Income (loss) before income taxes ........ 9 (24) 75 174 95
Income tax expense (benefit)............. 10 (4) 29 71 40
Net income (loss)....................... $ (1) $ (20) $ 46 $ 103 $ 55
Earnings (loss) per common share:
Basic................................ $ — $ (0.13) $ 0.30 $ 0.71 $ 0.49
Diluted.............................. $ — $ (0.13) $ 0.28 $ 0.64 $ 0.37
Other Financial Data:
Operating margin....................... 5.4%2.8%8.8%16.8%16.5%
Pre-tax margin ......................... 0.4%(1.4)%5.9%17.4%15.0%
Ratio of earnings to fixed charges (4) ..... — — 1.6x 3.1x 2.7x
Net cash provided by operating activities . . $ 274 $ 170 $ 199 $ 287 $ 217
Net cash used in investing activities ....... (1,307) (1,276) (720) (987) (880)
Net cash provided by financing activities. . . 1,037 1,093 437 789 657
(1) In 2006, we sold five Airbus A320 aircraft, which resulted in a gain of $12 million.
(2) In 2005, we recorded $7 million in non-cash stock-based compensation expense related to the
acceleration of certain employee stock options and wrote-off $6 million in development costs
relating to a maintenance and inventory tracking system that was not implemented.
(3) In 2003, we received $23 million in compensation under the Emergency War Time Supplemental
Appropriations Act.
(4) Earnings were inadequate to cover fixed charges by $17 million and $39 million for the years
ended December 31, 2006 and 2005, respectively.
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