EX-12.1 6 exhibit121ratioofearningst.htm EXHIBIT 12.1 Exhibit 12.1 Ratio of Earnings to Fixed Charges


Exhibit 12.1
JETBLUE AIRWAYS CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in millions, except ratios)
 
 
 
Year Ended December 31,
 
 
2012
 
2011
 
2010
 
2009
 
2008
Earnings:
 
 
 
 
 
 
 
 
 
 
  Income before income taxes
 
$
209

 
$
145

 
$
161

 
$
104

 
$
(89
)
  Less: Capitalized interest
 
(8
)
 
(5
)
 
(4
)
 
(7
)
 
(48
)
  Add:
 
 
 
 
 
 
 
 
 
 
    Fixed charges
 
270

 
273

 
272

 
298

 
357

    Amortization of capitalized interest
 
2

 
2

 
2

 
2

 
2

       Adjusted earnings
 
$
473

 
$
415

 
$
431

 
$
397

 
$
222

Fixed charges:
 
 
 
 
 
 
 
 
 
 
  Interest expense
 
$
167

 
$
171

 
$
172

 
$
189

 
$
228

  Amortization of debt costs
 
9

 
8

 
8

 
9

 
17

  Rent expense representative of interest
 
94

 
94

 
92

 
100

 
112

      Total fixed charges
 
$
270

 
$
273

 
$
272

 
$
298

 
$
357

Ratio of earnings to fixed charges (1)
 
1.75

 
1.52

 
1.59

 
1.33

 
—

(1)
Earnings were inadequate to cover fixed charges by $135 million for the year ended December 31, 2008.