EX-12.1 3 exhibit121ratioofearningst.htm EXHIBIT 12.1 Exhibit
Exhibit 12.1


JETBLUE AIRWAYS CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in millions, except ratios)
 
 
 
Year Ended
December 31,
 
 
2015
 
2014
 
2013
 
2012
 
2011
Earnings:
 
 
 
 
 
 
 
 
 
 
  Income before income taxes (a)
 
$
1,097

 
$
623

 
$
279

 
$
209

 
$
145

  Less: Capitalized interest
 
(8
)
 
(14
)
 
(13
)
 
(8
)
 
(5
)
  Add:
 
 
 
 
 
 
 
 
 
 
    Fixed charges
 
232

 
237

 
255

 
270

 
273

    Amortization of capitalized interest
 
4

 
4

 
3

 
2

 
2

       Adjusted earnings
 
$
1,325

 
$
850

 
$
524

 
$
473

 
$
415

Fixed charges:
 
 
 
 
 
 
 
 
 
 
  Interest expense
 
$
123

 
$
142

 
$
154

 
$
167

 
$
171

  Amortization of debt costs
 
5

 
6

 
8

 
9

 
8

  Rent expense representative of interest
 
104

 
89

 
93

 
94

 
94

      Total fixed charges
 
$
232

 
$
237

 
$
255

 
$
270

 
$
273

Ratio of earnings to fixed charges (a)
 
5.71

 
3.59

 
2.05

 
1.75

 
1.52


(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.