EX-12.1 3 q32018exhibit121.htm EXHIBIT 12.1 Exhibit


Exhibit 12.1
JETBLUE AIRWAYS CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in millions, except ratios)
 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2018
 
2017
 
2018
 
2017
Earnings:
 
 
 
 
 
 
 
(Loss) income before income taxes
$
68

 
$
297

 
$
18

 
$
743

Less: Capitalized interest
(2
)
 
(3
)
 
(7
)
 
(7
)
Add:
 
 
 
 
 
 
 
Fixed charges
47

 
48

 
132

 
144

Amortization of capitalized interest
1

 
1

 
4

 
4

Adjusted (loss) earnings(2)
$
114

 
$
343

 
$
147

 
$
884

Fixed charges:
 
 
 
 
 
 
 
Interest expense
$
22

 
$
22

 
$
64

 
$
69

Amortization of debt costs
1

 
1

 
3

 
3

Rent expense representative of interest
24

 
25

 
65

 
72

Total fixed charges
$
47

 
$
48

 
$
132

 
$
144

Ratio of (losses) earnings to fixed charges(1)(2)
2.43

 
7.20

 
1.11

 
6.13

 
 
 
 
 
 
 
 
____________________________
(1) All ratios shown in the above table have been calculated using unrounded numbers.
(2) Prior period results recasted to reflect the adoption of ASC 606 Revenue from Contracts with Customers.