JetBlue Airlines 2015 Annual Report Download - page 66

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JETBLUE AIRWAYS CORPORATION-2015Annual Report62
PART II
ITEM 8Financial Statements and Supplementary Data
to recognize it in the next 12 months or beyond. No deferred profit is
recognized in our consolidated balance sheets as of December 31, 2015
or 2014. There is no net book value of equipment installed for other airlines
in our consolidated balance sheets as of December 31, 2015 or 2014.
JetBlue expects to continue to be a significant customer of LiveTV.
Concurrent with the LiveTV sale, the parties have entered into two
agreements, each with seven year terms pursuant to which LiveTV
continues to provide JetBlue with in-flight entertainment and onboard
connectivity products and services
NOTE 17 Quarterly Financial Data (Unaudited)
Quarterly results of operations for the years ended December 31, 2015 and 2014 are summarized below (in millions, except per share amounts):
First Quarter Second Quarter Third Quarter Fourth Quarter
2015
Operating revenues $ 1,523 $ 1,612 $ 1,687 $ 1,594
Operating income 253 282 351 330
Net income 137 152 198 190
Basic earnings per share $ 0.44 $ 0.48 $ 0.63 $ 0.60
Diluted earnings per share $ 0.40 $ 0.44 $ 0.58 $ 0.56
2014(1)
Operating revenues $ 1,349 $ 1,493 $ 1,529 $ 1,446
Operating income 41 141 164 169
Net income 4 230 79 88
Basic earnings per share $ 0.01 $ 0.79 $ 0.27 $ 0.29
Diluted earnings per share $ 0.01 $ 0.68 $ 0.24 $ 0.26
(1) During the first quarter of 2014, severe winter weather led to the cancellation of approximately 4,100 flights which resulted in reduced revenue by an estimated $50 million and reduced
operating income by approximately $35 million. During the second quarter of 2014, we had a gain of $242 million on the sale of LiveTV business.
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.