jetBlue Results Presentation Deck
Operating expense, operating
income (loss), adjusted operating
margin, pre-tax income (loss),
adjusted pre-tax margin, net
income (loss) and earnings (loss)
per share, excluding special
items and net gain (loss) on
investments
Our GAAP results in the applicable periods were
impacted by credits and charges that were deemed
special items.
Special items for 2023 include Spirit costs and
union contract costs.
Special items for 2022 included Spirit costs, union
contract costs and Embraer E190 fleet transition
costs.
Certain gains and losses on our investments were
also excluded from our 2023 and 2022 GAAP
results.
We believe the impact of these items distort our
overall trends and our metrics are more
comparable with the presentation of our results
excluding the impact of these items. The table
provides a reconciliation of our GAAP reported
amounts to the non-GAAP amounts excluding the
impact of these items for the periods presented.
jetBlue
Non-GAAP Financial Measure
RECONCILIATION OF OPERATING EXPENSE, OPERATING INCOME (LOSS), ADJUSTED OPERATING MARGIN, PRE-TAX INCOME
(LOSS), ADJUSTED PRE-TAX MARGIN, NET INCOME (LOSS), EARNINGS (LOSS) PER SHARE, EXCLUDING SPECIAL ITEMS AND NET
GAIN (LOSS) ON INVESTMENTS
(unaudited, in millions)
Three Months Ended December 31,
2023
2022
2,415
Total operating revenues
RECONCILIATION OF OPERATING EXPENSE
Total operating expenses
Less: Special items
Total operating expenses excluding special items
RECONCILIATION OF OPERATING INCOME (LOSS)
Operating income (loss)
Add back: Special items
Operating income (loss) excluding special items
RECONCILIATION OF ADJUSTED OPERATING MARGIN
Operating margin
Operating income (loss) excluding special items
Total operating revenues
Adjusted operating margin
RECONCILIATION OF PRE-TAX INCOME (LOSS)
Income (loss) before income taxes
Add back: Special items
Less: Net gain (loss) on investments
Income (loss) before income taxes excluding special items and net gain
(loss) on investments
RECONCILIATION OF ADJUSTED PRE-TAX MARGIN
Pre-tax margin
Income (loss) before income taxes excluding special items and net gain
(loss) on investments
Total operating revenues
Adjusted pre-tax margin
RECONCILIATION OF NET INCOME (LOSS)
Net loss
Add back: Special items
Less: Income tax benefit (expense) related to special items
Less: Net gain (loss) on investments
Less: Income tax benefit (expense) related to net gain (loss) on
investments
Net loss excluding special items and net gain (loss) on investments
$
$
$
$
$
$
$
$
$
$
$
2,325
2,392
29
2.363
(67)
29
(38)
(2.9)%
(38)
2,325
(1.6)%
(110)
29
3
(84)
(4.7)%
(84)
2,325
(3.6)%
(104)
29
(15)
3
S
$
$
$
$
$
$
$
$
$
(63) $
2,372
57
2.315
43
57
100
1.8%
100
2,415
4.1 %
7
57
(5)
69
0.3 %
69
2,415
2.8%
24
57
13
(5)
1
72
Twelve Months Ended December 31,
2023
2022
9,615
9,158
$
$
$
$
$
$
$
$
$
$
$
9,845
197
9,648
(230)
197
(33)
(2.4)%
(33)
9,615
(0.3)%
(334)
197
9
(146)
(3.5)%
(146)
9,615
(1.5)%
(310)
197
31
9
(2)
(151)
$
$
$
$
$
$
$
$
$
$
9,456
113
9.343
(298)
113
(185)
(3.3)%
(185)
9,158
(2.0)%
(437)
113
(9)
(315)
(4.8)%
(315)
9,158
(3.4)%
(362)
113
19
(9)
1
(260)
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