JetBlue Airlines 2010 Annual Report Download - page 52

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they did during 2010, our interest expense would increase by approximately $1 million, compared to an
estimated $1 million for 2010 measured as of December 31, 2009. If interest rates average 10% lower in 2011
than they did during 2010, our interest income from cash and investment balances would remain relatively
constant, compared to a $1 million decrease for 2010 measured as of December 31, 2009. These amounts are
determined by considering the impact of the hypothetical interest rates on our variable-rate debt, cash
equivalents and investment securities balances at December 31, 2010 and 2009.
Fixed Rate Debt. On December 31, 2010, our $324 million aggregate principal amount of convertible
debt had a total estimated fair value of $531 million, based on quoted market prices. If interest rates were
10% higher than the stated rate, the fair value of this debt would have been $566 million as of December 31,
2010.
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