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,
 
 
2017
 
2016
 
2015
 
2014
 
2013
Earnings:
 
 
 
 
 
 
 
 
 
 
  Income before income taxes (a)
 
$
921

 
$
1,216

 
$
1,097

 
$
623

 
$
279

  Less: Capitalized interest
 
(10
)
 
(8
)
 
(8
)
 
(14
)
 
(13
)
  Add:
 
 
 
 
 
 
 
 
 
 
    Fixed charges
 
175

 
201

 
232

 
237

 
255

    Amortization of capitalized interest
 
5

 
4

 
4

 
4

 
3

       Adjusted earnings
 
$
1,091

 
$
1,413

 
$
1,325

 
$
850

 
$
524

Fixed charges:
 
 
 
 
 
 
 
 
 
 
  Interest expense
 
$
90

 
$
107

 
$
123

 
$
142

 
$
154

  Amortization of debt costs
 
4

 
4

 
5

 
6

 
8

  Rent expense representative of interest
 
81

 
90

 
104

 
89

 
93

      Total fixed charges
 
$
175

 
$
201

 
$
232

 
$
237

 
$
255

Ratio of earnings to fixed charges (a)
 
6.23

 
7.03

 
5.71

 
3.59

 
2.05


(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.