|
|
 |
JETBLUE AIRWAYS CORP
Consolidated Statement of Cash Flows
(In thousands)
|
|
Year
Ended December 31, |
|
|
|
2002 |
|
2001 |
|
2000 |
|
| CASH FLOWS FROM OPERATING ACTIVITIES |
|
|
|
|
|
|
|
|
|
|
| |
Net income (loss) |
|
$ |
54,908 |
|
$ |
38,537 |
|
$ |
(21,330 |
) |
| |
Adjustments to reconcile net income
(loss) to net cash provided by operating activities: |
|
|
|
|
|
|
|
|
|
|
| |
|
Deferred income taxes |
|
|
39,659 |
|
|
3,373 |
|
|
— |
|
| |
|
Depreciation |
|
|
24,730 |
|
|
9,972 |
|
|
3,889 |
|
| |
|
Amortization |
|
|
2,192 |
|
|
445 |
|
|
106 |
|
| |
|
Other, net |
|
|
11,427 |
|
|
5,960 |
|
|
3,892 |
|
| |
|
Changes in certain operating assets
and liabilities: |
|
|
|
|
|
|
|
|
|
|
| |
|
|
Decrease (increase) in receivables |
|
|
6,851 |
|
|
430 |
|
|
(21,622 |
) |
| |
|
|
Increase in inventories, prepaid and
other |
|
|
(3,992 |
) |
|
(2,120 |
) |
|
(3,354 |
) |
| |
|
|
Increase in air traffic liability |
|
|
45,968 |
|
|
23,788 |
|
|
26,173 |
|
| |
|
|
Increase in accounts payable and other
accrued liabilities |
|
|
34,734 |
|
|
30,894 |
|
|
15,070 |
|
| |
|
|
|
Net cash provided by operating activities |
|
|
216,477 |
|
|
111,279 |
|
|
2,824 |
|
CASH FLOWS FROM INVESTING ACTIVITIES |
|
|
|
|
|
|
|
|
|
|
| |
Capital expenditures |
|
|
(544,065 |
) |
|
(233,775 |
) |
|
(205,759 |
) |
| |
Predelivery deposits for flight equipment,
net |
|
|
(109,950 |
) |
|
(54,128 |
) |
|
(27,881 |
) |
| |
Acquisition of LiveTV, LLC, net of cash
acquired |
|
|
(80,448 |
) |
|
— |
|
|
— |
|
| |
Purchases of short-term investments |
|
|
(11,395 |
) |
|
— |
|
|
(20,923 |
) |
| |
Proceeds from maturities of short-term
investments |
|
|
2,000 |
|
|
— |
|
|
21,392 |
|
| |
Other, net |
|
|
(603 |
) |
|
(1,952 |
) |
|
(7,959 |
) |
| |
|
|
|
Net cash used in investing activities |
|
|
(744,461 |
) |
|
(289,855 |
) |
|
(241,130 |
) |
CASH FLOWS FROM FINANCING ACTIVITIES |
|
|
|
|
|
|
|
|
|
|
| |
Proceeds from issuance of long-term
debt |
|
|
416,000 |
|
|
185,000 |
|
|
137,750 |
|
| |
Proceeds from issuance of common stock |
|
|
174,014 |
|
|
25 |
|
|
130 |
|
| |
Proceeds from aircraft sale and leaseback
transactions |
|
|
150,000 |
|
|
72,000 |
|
|
70,000 |
|
| |
Proceeds from short-term borrowings |
|
|
27,098 |
|
|
28,781 |
|
|
15,138 |
|
| |
Proceeds from issuance of convertible
redeemable preferred stock |
|
|
389 |
|
|
29,731 |
|
|
51,322 |
|
| |
Repayment of long-term debt |
|
|
(71,398 |
) |
|
(35,254 |
) |
|
(18,577 |
) |
| |
Repayment of short-term borrowings |
|
|
(34,200 |
) |
|
(15,138 |
) |
|
— |
|
| |
Other, net |
|
|
(4,689 |
) |
|
(3,450 |
) |
|
(1,300 |
) |
| |
|
|
|
Net cash provided by financing activities |
|
|
657,214 |
|
|
261,695 |
|
|
254,463 |
|
INCREASE IN CASH AND CASH EQUIVALENTS |
|
|
129,230 |
|
|
83,119 |
|
|
16,157 |
|
| Cash and cash equivalents at beginning
of period |
|
|
117,522 |
|
|
34,403 |
|
|
18,246 |
|
| Cash and cash equivalents at end of
period |
|
$ |
246,752 |
|
$ |
117,522 |
|
$ |
34,403 |
|
|
See accompanying notes to consolidated financial statements.
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