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Content analysis
?Exhibit 12.1
JETBLUE AIRWAYS CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in thousands, except ratios)
|
| Three Months Ended |
| Six Months Ended |
| ||||||||
|
| 2004 |
| 2003 |
| 2004 |
| 2003 |
| ||||
|
|
|
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|
|
|
|
|
| ||||
Earnings: |
|
|
|
|
|
|
|
|
| ||||
Income before income taxes |
| $ | 36,514 |
| $ | 65,451 |
| $ | 62,278 |
| $ | 95,503 |
|
Less: Capitalized interest |
| (1,810 | ) | (1,221 | ) | (3,386 | ) | (2,242 | ) | ||||
Add: |
|
|
|
|
|
|
|
|
| ||||
Fixed charges |
| 27,388 |
| 18,188 |
| 51,599 |
| 35,479 |
| ||||
Amortization of capitalized interest |
| 142 |
| 113 |
| 276 |
| 225 |
| ||||
Adjusted earnings |
| $ | 62,234 |
| $ | 82,531 |
| $ | 110,767 |
| $ | 128,965 |
|
|
|
|
|
|
|
|
|
|
| ||||
Fixed charges: |
|
|
|
|
|
|
|
|
| ||||
Interest expense |
| $ | 12,165 |
| $ | 5,794 |
| $ | 21,656 |
| $ | 11,758 |
|
Amortization of debt costs |
| 354 |
| 229 |
| 684 |
| 459 |
| ||||
Rent expense representative of interest |
| 14,869 |
| 12,165 |
| 29,259 |
| 23,262 |
| ||||
Total fixed charges |
| $ | 27,388 |
| $ | 18,188 |
| $ | 51,599 |
| $ | 35,479 |
|
|
|
|
|
|
|
|
|
|
| ||||
Ratio of earnings to fixed charges |
| 2.27 |
| 4.54 |
| 2.15 |
| 3.64 |
|
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