JetBlue Airlines 2010 Annual Report Download - page 114

Download and view the complete annual report

Please find page 114 of the 2010 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 122

  • 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
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122

Exhibit 12.1
JETBLUE AIRWAYS CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in millions, except ratios)
2010 2009 2008 2007 2006
Year Ended December 31,
Earnings:
Income (loss) before income taxes ........................ $161 $104 $(89) $ 31 $ (1)
Less: capitalized interest ............................... (4) (7) (48) (43) (27)
Add:
Fixed charges ..................................... 272 298 357 343 274
Amortization of capitalized interest ..................... 2 2 2 1 1
Total earnings .................................. $431 $397 $222 $332 $247
Fixed charges:
Interest expense ..................................... $172 $189 $228 $230 $178
Amortization of debt costs ............................. 8 9 17 6 6
Rent expense representative of interest..................... 92 100 112 107 90
Total fixed charges ............................... $272 $298 $357 $343 $274
Ratio of earnings to fixed charges (1) ....................... 1.59 1.33 — — —
(1) Earnings were inadequate to cover fixed charges by $135 million, $11 million, and $27 million for the
years ended December 31, 2008, 2007, and 2006, respectively.