JetBlue Airlines 2011 Annual Report Download - page 125
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Exhibit 12.1
JETBLUE AIRWAYS CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in millions, except ratios)
Year Ended December 31,
2011 2010 2009 2008 2007
Earnings:
Income (loss) before income taxes .............................. $145 $161 $104 $(89) $ 31
Less: capitalized interest ..................................... (5) (4) (7) (48) (43)
Add: Fixed charges .......................................... 273 272 298 357 343
Amortization of capitalized interest .............................22221
Total earnings ........................................... $415 $431 $397 $222 $332
Fixed charges:
Interest expense ............................................ $171 $172 $189 $228 $230
Amortization of debt costs ....................................889176
Rent expense representative of interest .......................... 94 92 100 112 107
Total fixed charges ....................................... $273 $272 $298 $357 $343
Ratio of earnings to fixed charges (1) ........................... 1.52 1.59 1.33 — —
(1) Earnings were inadequate to cover fixed charges by $135 million and $11 million for the years ended
December 31, 2008 and 2007, respectively.