JetBlue Airlines 2010 Annual Report Download - page 33

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ITEM 6. SELECTED FINANCIAL DATA
The following financial information for the five years ended December 31, 2010 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.
2010 2009 2008 2007 2006
Year Ended December 31,
(in millions, except per share data)
Statements of Operations Data:
Operating revenues ............................ $3,779 $3,292 $3,392 $2,843 $ 2,364
Operating expenses:
Aircraft fuel and related taxes ................... 1,115 945 1,397 968 786
Salaries, wages and benefits (1) ................. 891 776 694 648 553
Landing fees and other rents .................... 228 213 199 180 158
Depreciation and amortization (2) ................ 220 228 205 176 151
Aircraft rent ................................ 126 126 129 124 103
Sales and marketing .......................... 179 151 151 121 104
Maintenance materials and repairs ............... 172 149 127 106 87
Other operating expenses (3) ................... 515 419 377 350 294
Total operating expenses ..................... 3,446 3,007 3,279 2,673 2,236
Operating income . ............................ 333 285 113 170 128
Other income (expense) (4) ...................... (172) (181) (202) (139) (129)
Income (loss) before income taxes ................. 161 104 (89) 31 (1)
Income tax expense (benefit) ..................... 64 43 (5) 19 6
Net income (loss) . ............................ $ 97 $ 61 $ (84) $ 12 $ (7)
Earnings (loss) per common share:
Basic ..................................... $ 0.36 $ 0.24 $ (0.37) $ 0.07 $ (0.04)
Diluted ................................... $ 0.31 $ 0.21 $ (0.37) $ 0.06 $ (0.04)
Other Financial Data:
Operating margin . . ............................ 8.8% 8.6% 3.3% 6.0% 5.4%
Pre-tax margin ................................ 4.3% 3.2% (2.6)% 1.1% (0.1)%
Ratio of earnings to fixed charges (5) ............... 1.59x 1.33x — — —
Net cash provided by (used in) operating activities ..... $ 523 $ 486 $ (17) $ 358 $ 274
Net cash used in investing activities ................ (696) (457) (247) (734) (1,307)
Net cash provided by (used in) financing activities ..... (258) 306 635 556 1,037
(1) In 2010, we incurred approximately $9 million in one-time implementation expenses related to our new
customer service system.
(2) In 2008, we wrote-off $8 million related to our temporary terminal facility at JFK.
(3) In 2009, 2008, 2007, and 2006, we sold two, nine, three, and five aircraft, respectively, which resulted in
gains of $1 million, $23 million, $7 million, and $12 million, respectively. In 2010, we recorded an
impairment loss of $6 million related to the spectrum license held by our LiveTV subsidiary. In 2010, we
also incurred approximately $13 million in one-time implementation expenses related to our new customer
service system.
(4) In 2008, we recorded $13 million in additional interest expense related to the early conversion of a portion
of our 5.5% convertible debentures due 2038 and a $14 million gain on extinguishment of debt. In
December 2008, we recorded a holding loss of $53 million related to the valuation of our auction rate
securities.
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