JETBLUE AIRWAYS CORP
For the period ended Dec 31, 2023. Filed Feb 12, 2024.
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FY2023 · Filed Feb 12, 2024
JBLU$4.00+1.5%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Years Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | |||
| Net loss | $(310) | $(362) | $(182) |
| Adjustments to reconcile net loss to net cash provided by operating activities: | |||
| Deferred income taxes | (27) | (73) | (88) |
| Depreciation and amortization | 621 | 585 | 540 |
| Stock-based compensation | 39 | 30 | 28 |
| Special items - fleet transition | — | 52 | — |
| Losses on debt extinguishments | — | — | 50 |
| Unrealized (gains) losses on investments | — | 12 | (49) |
| Changes in certain operating assets and liabilities: | |||
| Increase in receivables | (3) | (111) | (46) |
| Decrease in inventories, prepaid and other | 67 | 201 | 138 |
| Increase (decrease) in air traffic liability | (145) | 30 | 447 |
| Increase in accounts payable and other accrued liabilities | 141 | 26 | 806 |
| Other, net | 17 | (11) | (2) |
| Net cash provided by operating activities | 400 | 379 | 1,642 |
| CASH FLOWS FROM INVESTING ACTIVITIES | |||
| Capital expenditures | (1,128) | (767) | (907) |
| Pre-delivery deposits for flight equipment | (78) | (156) | (88) |
| Purchase of held-to-maturity investments | (69) | (142) | (37) |
| Proceeds from the maturities of held-to-maturity investments | 12 | 2 | — |
| Purchase of available-for-sale securities | (474) | (473) | (1,577) |
| Proceeds from the sale of available-for-sale securities | 489 | 934 | 1,910 |
| Payment for Spirit Airlines acquisition | (131) | (297) | — |
| Other, net | 1 | (9) | (5) |
| Net cash used in investing activities | (1,378) | (908) | (704) |
| CASH FLOWS FROM FINANCING ACTIVITIES | |||
| Proceeds from issuance of long-term debt | 78 | — | 1,010 |
| Proceeds from sale-leaseback transactions | 1,331 | — | — |
| Proceeds from issuance of common stock | 53 | 52 | 46 |
| Proceeds from issuance of stock warrants | — | — | 14 |
| Repayment of long-term debt and finance lease obligations | (347) | (369) | (1,892) |
| Acquisition of treasury stock | (4) | (6) | (8) |
| Other, net | (4) | (37) | — |
| Net cash provided by (used in) financing activities | 1,107 | (360) | (830) |
| INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH | 129 | (889) | 108 |
| Cash, cash equivalents and restricted cash at beginning of period | 1,188 | 2,077 | 1,969 |
| Cash, cash equivalents and restricted cash at end of period (1) | $1,317 | $1,188 | $2,077 |
| SUPPLEMENTAL CASH FLOW INFORMATION | |||
| Cash payments for interest | $(80) | $(124) | $(180) |
| Cash proceeds (payments) for income taxes, net | 49 | 45 | (3) |
| NON-CASH TRANSACTIONS | |||
| Operating lease assets obtained under operating leases | $46 | $31 | $46 |
| (1) Reconciliation of cash, cash equivalents and restricted cash reported within the consolidated balance sheets: | |||
| JETBLUE AIRWAYS CORPORATION | |||
|---|---|---|---|
| CONSOLIDATED STATEMENTS OF CASH FLOWS (CONTINUED) | |||
| (in millions) | |||
| December 31, | |||
| 2023 | 2022 | 2021 | |
| Cash and cash equivalents | $1,166 | $1,042 | $2,018 |
| Restricted cash | 151 | 146 | 59 |
| Total cash, cash equivalents and restricted cash | $1,317 | $1,188 | $2,077 |
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