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Content analysis
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Constraining | ||
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H.S. sophomore Good
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Exhibit 12.1
JETBLUE AIRWAYS CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in thousands, except ratios)
|
| Three Months Ended |
| Nine Months Ended |
| ||||||||
|
| 2004 |
| 2003 |
| 2004 |
| 2003 |
| ||||
|
|
|
|
|
|
|
|
|
| ||||
Earnings: |
|
|
|
|
|
|
|
|
| ||||
Income before income taxes |
| $ | 13,810 |
| $ | 49,417 |
| $ | 76,088 |
| $ | 144,920 |
|
Less: Capitalized interest |
| (2,477 | ) | (1,405 | ) | (5,863 | ) | (3,647 | ) | ||||
Add: |
|
|
|
|
|
|
|
|
| ||||
Fixed charges |
| 29,468 |
| 21,192 |
| 81,067 |
| 56,671 |
| ||||
Amortization of capitalized interest |
| 152 |
| 119 |
| 428 |
| 344 |
| ||||
Adjusted earnings |
| $ | 40,953 |
| $ | 69,323 |
| $ | 151,720 |
| $ | 198,288 |
|
|
|
|
|
|
|
|
|
|
| ||||
Fixed charges: |
|
|
|
|
|
|
|
|
| ||||
Interest expense |
| $ | 13,748 |
| $ | 7,628 |
| $ | 35,404 |
| $ | 19,386 |
|
Amortization of debt costs |
| 424 |
| 229 |
| 1,108 |
| 688 |
| ||||
Rent expense representative of interest |
| 15,296 |
| 13,335 |
| 44,555 |
| 36,597 |
| ||||
Total fixed charges |
| $ | 29,468 |
| $ | 21,192 |
| $ | 81,067 |
| $ | 56,671 |
|
|
|
|
|
|
|
|
|
|
| ||||
Ratio of earnings to fixed charges |
| 1.39 |
| 3.27 |
| 1.87 |
| 3.50 |
|
1