JetBlue Airlines 2009 Annual Report Download - page 112

Download and view the complete annual report

Please find page 112 of the 2009 JetBlue Airlines annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 118

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118

Exhibit 12.1
JETBLUE AIRWAYS CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in millions, except ratios)
2009 2008 2007 2006 2005
Year Ended December 31,
Earnings:
Income (loss) before income taxes ........................ $ 99 $(90) $ 31 $ (1) $ (31)
Less: capitalized interest ............................... (7) (48) (43) (27) (16)
Add:
Fixed charges...................................... 297 354 342 273 179
Amortization of capitalized interest...................... 2 2 1 1 1
Total earnings ................................... $391 $218 $331 $246 $133
Fixed charges:
Interest expense ...................................... $190 $228 $230 $178 $111
Amortization of debt costs .............................. 7 14 5 5 3
Rent expense representative of interest ..................... 100 112 107 90 65
Total fixed charges ................................. $297 $354 $342 $273 $179
Ratio of earnings to fixed charges (1)........................ 1.32 — — — —
(1) Earnings were inadequate to cover fixed charges by $136 million, $11 million, $27 million, and $46 million for
the years ended December 31, 2008, 2007, 2006 and 2005, respectively.