JetBlue Airlines 2010 Annual Report Download - page 83

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required to be measured at fair value on a recurring basis and where they are classified within the fair value
hierarchy (as described in Note 1) (in millions). Refer to Note 2 for fair value information related to our
outstanding debt obligations as of December 31, 2010 and 2009.
Level 1 Level 2 Level 3 Total
As of December 31, 2010
Assets
Cash and cash equivalents ........................... $399 $— $— $399
Restricted cash ................................... 59 — — 59
Available-for-sale investment securities . ................ 154 — — 154
Aircraft fuel derivatives ............................. — 23 — 23
$612 $23 $— $635
Liabilities
Interest rate swap ................................. $ — $— $23 $ 23
$ — $— $23 $ 23
Level 1 Level 2 Level 3 Total
As of December 31, 2009
Assets
Cash and cash equivalents ......................... $ 902 $— $— $ 902
Restricted cash ................................. 71 — — 71
Investment securities
Auction rate securities (ARS) ..................... — — 74 74
Available-for-sale securities ...................... 150 — — 150
Put option related to ARS ......................... — — 11 11
Aircraft fuel derivatives ........................... — 28 — 28
$1,123 $28 $85 $1,236
Liabilities
Interest rate swap ............................... $ — $— $10 $ 10
$ — $— $10 $ 10
The following table reflects the activity for the major classes of our assets and liabilities measured at fair
value on a recurring basis using level 3 inputs (in millions) for the twelve months ended December 31, 2009
and 2010:
Auction Rate
Securities
Put Option
related to ARS
Interest Rate
Swaps Total
Balance as of December 31, 2008 .......... $244 $14 $(10) $ 248
Total gains or (losses), realized or unrealized
Included in earnings................... 4 (3) (5) (4)
Included in comprehensive income ........ — — 5 5
Purchases, issuances and settlements, net ..... (174) — — (174)
Balance as of December 31, 2009 .......... $ 74 $11 $(10) $ 75
Total gains or (losses), realized or unrealized
Included in earnings................... 11 (11) 8 8
Included in comprehensive income ........ — — (21) (21)
Purchases, issuances and settlements, net ..... (85) — — (85)
Balance as of December 31, 2010 .......... $ — $— $(23) $ (23)
74