Attached files
| file | filename |
|---|---|
| EX-31.1 - EXHIBIT 31.1 - JETBLUE AIRWAYS CORP | exhibit311certification2016.htm |
| 10-K - 10-K - JETBLUE AIRWAYS CORP | a201610-k.htm |
| EX-32 - EXHIBIT 32 - JETBLUE AIRWAYS CORP | exhibit32certification2016.htm |
| EX-31.2 - EXHIBIT 31.2 - JETBLUE AIRWAYS CORP | exhibit312certification2016.htm |
| EX-23 - EXHIBIT 23 - JETBLUE AIRWAYS CORP | exhibit23consent2016.htm |
| EX-21.1 - EXHIBIT 21.1 - JETBLUE AIRWAYS CORP | exhibit211listofsubsidiari.htm |
Exhibit 12.1
JETBLUE AIRWAYS CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in millions, except ratios)
Year Ended December 31, | ||||||||||||||||||||
2016 | 2015 | 2014 | 2013 | 2012 | ||||||||||||||||
Earnings: | ||||||||||||||||||||
Income before income taxes (a) | $ | 1,216 | $ | 1,097 | $ | 623 | $ | 279 | $ | 209 | ||||||||||
Less: Capitalized interest | (8 | ) | (8 | ) | (14 | ) | (13 | ) | (8 | ) | ||||||||||
Add: | ||||||||||||||||||||
Fixed charges | 201 | 232 | 237 | 255 | 270 | |||||||||||||||
Amortization of capitalized interest | 4 | 4 | 4 | 3 | 2 | |||||||||||||||
Adjusted earnings | $ | 1,413 | $ | 1,325 | $ | 850 | $ | 524 | $ | 473 | ||||||||||
Fixed charges: | ||||||||||||||||||||
Interest expense | $ | 107 | $ | 123 | $ | 142 | $ | 154 | $ | 167 | ||||||||||
Amortization of debt costs | 4 | 5 | 6 | 8 | 9 | |||||||||||||||
Rent expense representative of interest | 90 | 104 | 89 | 93 | 94 | |||||||||||||||
Total fixed charges | $ | 201 | $ | 232 | $ | 237 | $ | 255 | $ | 270 | ||||||||||
Ratio of earnings to fixed charges (a) | 7.03 | 5.71 | 3.59 | 2.05 | 1.75 | |||||||||||||||
(a) | Excluding the $241 million gain on the sale of LiveTV in 2014 would result in a ratio of earnings to fixed charges of 2.57. |