JetBlue Airlines 2011 Annual Report Download - page 93

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approach for the cash flows associated with the current general aviation business as well as a market approach
based on an independent valuation. Since these inputs are not observable, they are classified as level 3 inputs in
the hierarchy. As of December 31, 2011, we determined there was no further impairment.
Note 15—Comprehensive Income (Loss)
Comprehensive income (loss) includes changes in fair value of our aircraft fuel derivatives and interest rate
swap agreements, which qualify for hedge accounting. The differences between net income (loss) and
comprehensive income (loss) for the years ended December 31, are as follows (in millions):
2011 2010 2009
Net income ..................................................... $86 $97 $ 61
Gain (loss) on derivative instruments (net of $4, $7 and $54 of taxes) ....... (5) (11) 85
Total other comprehensive income (loss) ............................ (5) (11) 85
Comprehensive income ........................................... $81 $86 $146
A rollforward of the amounts included in accumulated other comprehensive income (loss), net of taxes for
the years ended December 31, 2009, 2010, and 2011 is as follows (in millions):
Aircraft Fuel
Derivatives
Interest
Rate Swaps Total
Beginning accumulated gains (losses), at December 31, 2008 ............. $(77) $ (7) $(84)
Reclassifications into earnings ...................................... 72 3 75
Change in fair value .............................................. 12 (2) 10
Balance of accumulated gains (losses), at December 31, 2009 ............. 7 (6) 1
Reclassifications into earnings ...................................... 3 5 8
Change in fair value .............................................. (6) (13) (19)
Balance of accumulated gains (losses), at December 31, 2010 ............. 4 (14) (10)
Reclassifications into earnings ...................................... (1) 6 5
Change in fair value .............................................. (6) (4) (10)
Ending accumulated gains (losses), at December 31, 2011 ................ $ (3) $(12) $(15)
Note 16—Geographic Information
Under the Segment Reporting topic of the Codification, disclosures are required for operating segments,
which are regularly reviewed by the chief operating decision makers. Air transportation services accounted for
substantially all the Company’s operations in 2011, 2010 and 2009.
Operating revenues are allocated to geographic regions, as defined by the DOT, based upon the origination
and destination of each flight segment. We currently serve 20 locations in the Caribbean and Latin American
region, or Latin America as defined by the DOT. However, our management also includes Puerto Rico when
reviewing the Caribbean region, and as such we have included our three destinations in Puerto Rico in our
Caribbean allocation of revenues. Operating revenues by geographic regions for the years ended December 31
are summarized below (in millions):
2011 2010 2009
Domestic .................................................. $3,351 $2,900 $2,596
Caribbean ................................................. 1,153 879 696
Total ..................................................... $4,504 $3,779 $3,292
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