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JETBLUE AIRWAYS CORPORATION-2012 10K64
PART II
ITEM 8Financial Statements and Supplementary Data
NOTE 17 Quarterly Financial Data (Unaudited)
Quarterly results of operations for the years ended December 31 are summarized below (in millions, except per share amounts):
First Quarter Second Quarter Third Quarter Fourth Quarter
2012
(1)
Operating revenues $ 1,203 $ 1,277 $ 1,308 $ 1,194
Operating income 89 130 113 44
Net income 30 52 45 1
Basic earnings per share $ 0.11 $ 0.19 $ 0.16 $ —
Diluted earnings per share $ 0.09 $ 0.16 $ 0.14 $ —
2011
(2)
Operating revenues $ 1,012 $ 1,151 $ 1,195 $ 1,146
Operating income 45 86 108 83
Net income 3 25 35 23
Basic earnings per share $ 0.01 $ 0.09 $ 0.12 $ 0.08
Diluted earnings per share $ 0.01 $ 0.08 $ 0.11 $ 0.08
(1) During the first quarter of 2012, LiveTV terminated a customer contract resulting in a gain of approximately $8 million in other operating expenses. During the second quarter of 2012, we
recorded net gains of approximately $10 million on the sale of two EMBRAER 190 aircraft and six spare aircraft engines in other operating expenses, as well as net gains of approximately
$2 million in interest income and other on the early extinguishment of debt secured by six aircraft. During the fourth quarter of 2012, we recognized losses of approximately $3 million in
interest income and other on the early extinguishment of debt secured by two aircraft.
(2) During the first quarter of 2011, we recorded $9 million of revenue related to our co-branded credit card agreement guarantee. During the third and fourth quarters of 2011, we recorded
a $5 million loss and $1 million loss, respectively, on the early extinguishment of a portion of our 6.75% Series A convertible debentures.
The sum of the quarterly earnings per share amounts does not equal the annual amount reported since per share amounts are computed independently
for each quarter and for the full year based on respective weighted-average common shares outstanding and other dilutive potential common shares.