Delta BS Current Assets: Cash and cash equivalents. Delta IS Delta Airlines: Consolidated Balance Sheets -...

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Delta BS Current Assets: Cash and cash equivalents. Delta IS Delta Airlines: Consolidated Balance Sheets - USD in Millions Short-term investments Accounts receivable, net of an allowance for uncollectible accounts Fuel, expendable parts and supplies inventories, net of an allowance for obsolescence Prepaid expenses and other Total current assets Noncurrent Assets: Property and equipment, net of accumulated depreciation and amortization. Operating lease right-of-use assets Goodwill Equity investments Deferred income taxes, net Other noncurrent assets Total noncurrent assets Total assets Identifiable intangibles, net of accumulated amortization Cash restricted for airport construction Current Liabilities: Current maturities of debt and finance leases Current maturities of operating leases Accounts payable Accrued salaries and related benefits Fuel card obligation Other accrued liabilities. Total current liabilities Noncurrent Liabilities: Debt and finance leases Pension, postretirement and related benefits Noncurrent operating leases Deferred income taxes, net Other noncurrent liabilities Total noncurrent liabilities Commitments and Contingencies Stockholders' Equity: JetBlue BS Common stock at $0.0001 par value; 1,500,000,000 shares authorized Additional paid-in capital Retained earnings/(accumulated deficit) Accumulated other comprehensive loss Treasury stock, at cost Total stockholders' equity Total liabilities and stockholders' equity Air traffic Current Liabilities: Deferred revenue liability, current Noncurrent Liabilities: Deferred revenue liability, noncurrent JetBlue IS Loyalty program Current Liabilities: Deferred revenue liability, current Noncurrent Liabilities: Deferred revenue liability, noncurrent Southwest BS Dec. 31, 2022 $3,266.00 $3,268.00 $3,176.00 $1,424.00 $1,877.00 $13,011.00 $33,109.00 $7,036.00 $9,753.00 $5,992.00 $2,128.00 $325.00 $934.00 $59,277.00 $72,288.00 $2,359.00 $714.00 $5,106.00 $3,288.00 $1,100.00 $1,779.00 $25,940.00 $20,671.00 $3,707.00 $6,866.00 $3,974.00 $39,766.00 $0.00 $11,526.00 $1,170.00 -$5,801.00 -$313.00 $6,582.00 $72,288.00 $8,160.00 $100.00 $3,434.00 $4,448.00 Dec. 31, 2021 $7,933.00 $3,386.00 $2,404.00 $1,098.00 $1,119.00 $15,940.00 $28,749.00 $7,237.00 $9,753.00 $6,001.00 $1,712.00 $1,294.00 $1,773.00 $56.519.00 $72,459.00 $1,782.00 $703.00 $4,240.00 $2,457.00 $1,100.00 $1,746.00 $20,966.00 $25,138.00 $6,035.00 $7,056.00 $4,398.00 $47,606.00 $0.00 $11,447.00 -$148.00 -$7,130.00 -$282.00 $3,887.00 $72,459.00 $6,228.00 $130.00 $2,710.00 $4,849.00 Southwest IS Dec. 31, 2020 $8,307.00 $5,789.00 $1,396.00 $732.00 $1,180.00 $17,404.00 $26,529.00 $5,733.00 $9,753.00 $6,011.00 $1,556,00 $1,665.00 $1,988.00 $1,357.00 $54,592.00 $71,996.00 $1,732.00 $678.00 $2,840.00 $2,086.00 $1,100.00 $1,670.00 $15,927.00 $27,425.00 $10,630.00 $5,713.00 $4,862.00 $54,535.00 $0.00 $11,259.00 -$428.00 -$9,038.00 -$259.00 $1,534.00 $71,996.00 $4,044.00 $500.00 $1,777.00 $5,405.00 Dec. 31, 2019 $2,882.00 $0.00 $2,854.00 $1,251.00 $1,262.00 $8,249.00 $31,310.00 $5,627.00 $9,781.00 $5,163.00 $636.00 $2,568.00 $120.00 $1,078.00 $56,283.00 $64,532.00 $2.287.00 $801.00 $3,266.00 $3,701.00 $736.00 $1,078.00 $20,204.00 $8,873.00 $8,452.00 $5,294.00 $1,456.00 $1,386.00 $28,970.00 $0.00 $11,129.00 $12,454.00 -$7,989.00 -$236.00 $15,358.00 $64,532.00 $5,116.00 $0.00 $3,219.00 $3,509.00 Dec. 31, 2018 $1,565.00 $0.00 $2,314.00 $1,055.00 $1,406.00 $6,340.00 $28,335.00 $5,994.00 $9,781.00 $4,830.00 $1,136.00 $3,850.00 $53,926.00 $60,266.00 $1,518.00 $955.00 $2,976.00 $3,287.00 $1,075.00 $1,117.00 $18,578.00 $8,253.00 $9,163.00 $5,801.00 $163.00 $969.00 $28,001.00 $0.00 $11,671.00 $10,039,00 -$7,825.00 -$198.00 $13,687.00 $60,266.00 $4,661.00 $2,989.00 $3,652.00 Delta BS Current assets: Cash and cash equivalents Delta IS Short-term investments Accounts and other receivables Inventories of parts and supplies, at cost Prepaid expenses and other current assets Total current assets Southwest Airlines: Consolidated Balance Sheet - USD in Millions Property and equipment, at cost: Flight equipment Ground property and equipment Deposits on flight equipment purchase contracts Assets constructed for others Other assets Total assets Property and equipment, at cost Less allowance for depreciation and amortization Property and equipment, net Goodwill Operating lease right-of-use assets Current liabilities: Accounts payable Accrued liabilities Current operating lease liabilities. Air traffic liability Current maturities of long-term debt Total current liabilities Long-term debt less current maturities. Air traffic liability - noncurrent Deferred income taxes Construction obligation Noncurrent operating lease liabilities Other noncurrent liabilities. Stockholders' equity: Common stock, $1.00 par value: 2,000,000,000 shares authorized Capital in excess of par value Retained earnings JetBlue BS Accumulated other comprehensive income/(loss) Treasury stock, at cost Total stockholders' equity Total liabilities and stockholders' equity JetBlue IS Southwest BS Dec. 31, 2022 $9,492.00 $2,800.00 $1,040.00 $790.00 $686.00 $14,808.00 $23,725.00 $6,855.00 $376.00 $28.00 $30,984.00 $13,642.00 $17,342.00 $970.00 $1,394.00 $855.00 $35,369.00 $2,004,00 $2,043.00 $225.00 $6,064.00 $42.00 $10,378.00 $8,046.00 $2,186.00 $1,985.00 - $1,118.00 $969.00 $888.00 $4,037.00 $16,261.00 $344.00 -$10,843.00 $10,687.00 $35,369.00 Dec. 31, 2021 $12,480.00 $3,024.00 $1,357.00 $537.00 $638.00 $18,036.00 $21,226.00 $6,342.00 $0.00 $6.00 $27,574.00 $12.732.00 $14,842.00 $970.00 $1,590.00 $882.00 $36,320.00 $1,282.00 $1,624.00 $239.00 $5,566.00 $453.00 $9,164.00 $10,274.00 $2,159.00 $1,770.00 $1,315.00 $1,224.00 $888.00 $4,224.00 $15,774.00 $388.00 -$10,860.00 $10,414.00 $36,320.00 Southwest IS Dec. 31, 2020 $11,063.00 $2,271.00 $1,130.00 $414.00 $295.00 $15,173.00 $20,877.00 $6,083.00 $305.00 $309.00 $27,574.00 $11,743.00 $15,831.00 $970.00 $1,892.00 $722.00 $34,588.00 $931.00 $2,259.00 $306.00 $3,790.00 $220.00 $7,506.00 $10,111.00 $3,343.00 $1,634.00 $309.00 $1,562.00 $1,247.00 $888.00 $4,191.00 $14,777.00 -$105.00 -$10,875.00 $8,876.00 $34,588.00 Dec. 31, 2019 $2,548.00 $1,524.00 $1,086.00 $529.00 $287.00 $5,974.00 $21,629.00 $5,672.00 $248.00 $164.00 $27,713.00 $10,688.00 $17,025.00 $970.00 $1,349.00 $25,895.00 $1,574.00 $1,749.00 $353.00 $4,457.00 $819.00 $8,952.00 $1,846.00 $1,053.00 $2,364.00 $164.00 $978.00 $706.00 $808.00 $1,581.00 $17,945.00 -$61.00 -$10,441.00 $9,832.00 $25,895.00 Dec. 31, 2018 $1,854.00 $1,835.00 $568.00 $461.00 $310.00 $5,028.00 $21,753.00 $4,960.00 $775.00 $1,768.00 $29,256.00 $9,731.00 $19,525.00 $970.00 $0.00 $720.00 $26,243.00 $1,416.00 $1,749.00 $0.00 $4,134.00 $606.00 $7,905.00 $2,771.00 $936.00 $2,427.00 $1,701.00 $0.00 $650.00 $808.00 $1,510.00 $15,967.00 $20.00 -$8,452.00 $9,853.00 $26,243.00 Delta BS Operating Revenue: Total operating revenue Operating Expense: Salaries and related costs Delta IS Delta Airlines: Consolidated Statements of Operations - USD in Millions Aircraft fuel and related taxes Ancillary businesses and refinery Contracted services Landing fees and other rents Depreciation and amortization. Regional carrier expense Aircraft maintenance materials and outside repairs Passenger commissions and other selling expenses Passenger service Profit sharing Aircraft rent Restructuring charges Government grant recognition Other Total operating expense Operating Income/(Loss) Non-Operating Expense: Interest expense, net Impairments and equity method results Gain/(loss) on investments, net Loss on extinguishment of debt Pension and related benefit Miscellaneous, net JetBlue BS Total non-operating expense, net Income/(Loss) Before Income Taxes Income Tax (Provision)/Benefit Net Income/(Loss) Basic Earnings/(Loss) Per Share (USD per share) Diluted Earnings (Loss) Per Share (USD per share) Cash Dividends Declared Per Share (USD per share) JetBlue IS Dec. 31, 2022 Dec. 31, 2021 $50,582.00 $11,902.00 $11,482.00 $5,756.00 $3,345.00 $2,181.00 $2,107.00 $2,051.00 $1,982.00 $1,891.00 $1,453.00 $563.00 $508.00 -$124.00 $0.00 $1,824.00 $46,921.00 $3,661.00 -$1,029.00 -$20.00 -$783.00 -$100.00 $292.00 -$107.00 -$1,747.00 $1,914.00 -$596.00 $1,318.00 $2.07 $2.06 $0.00 $29,899.00 $9,728.00 $5,633.00 $3,957.00 $2,420.00 $2,019.00 $1,998.00 $1,736.00 $1,401.00 $953.00 $756.00 $108.00 $430.00 -$19.00 -$4,512.00 $1,405.00 $28,013.00 $1,886.00 -$1,279.00 -$337.00 $56.00 -$319.00 $451.00 -$60.00 -$1,488.00 Southwest BS 12 Months Ended Dec. 31, 2020 Dec. 31, 2019 Dec.31, 2018 $17,095.00 $9,001.00 $3,176.00 $1,785.00 $1,953.00 $1,833.00 $2,312.00 $1,584.00 $822.00 $643.00 $551.00 $0.00 $399.00 $8,219.00 -$3,946.00 $1,232.00 $29,564.00 -$12,469.00 -$929.00 -$2,432.00 -$105.00 -$8.00 $219.00 $137.00 -$3,118.00 $398.00 -$15,587.00 -$118.00 $3,202.00 $280.00 -$12,385.00 $0.44 $0.44 $0.00 -$19.49 -$19.49 $0.40 $47,007.00 $11,601.00 $8,519.00 $1,245.00 $2,942.00 $2,176.00 $2,581.00 $2,158.00 $1,751.00 $2,211.00 $1,312.00 $423.00 $0.00 $1,643.00 $0.00 $1,827.00 $40,389.00 $6,618.00 -$301.00 -$62.00 $119.00 $0.00 -$65.00 -$111.00 -$420.00 $6,198.00 -$1,431.00 $4,767.00 Southwest IS $7.32 $7.30 $1.51 $44,438.00 $10,743.00 $9,020.00 $1,695.00 $2,175.00 $1,662.00 $2,329.00 $3,438.00 $1,575.00 $1,941.00 $1,178.00 $394.00 $0.00 $1,301.00 $0.00 $1,723.00 $39,174.00 $5,264.00 -$311.00 -$60.00 $38.00 $0.00 $0.00 $220.00 -$113.00 $5,151.00 -$1,216.00 $3,935.00 $5.69 $5.67 $1.31 Delta BS Delta IS JetBlue Airlines: Consolidated Statements of Operations- USD ($) $ in Millions OPERATING REVENUES Total revenue OPERATING EXPENSES Aircraft fuel and related taxes Salaries, wages and benefits Landing fees and other rents Depreciation and amortization Aircraft rent Sales and marketing Maintenance, materials and repairs Special Items Other operating expenses Total operating expenses OPERATING LOSS/INCOME OTHER EXPENSE/ INCOME Interest expense Interest income Loss/ gain on equity investments, net Other Total other expense INCOME/LOSS BEFORE INCOME TAXES Income tax benefit/expense NET INCOME/LOSS JetBlue BS LOSS/EARNINGS PER COMMON SHARE Basic (in dollars per share) Diluted (in dollars per share) JetBlue IS $9,158.00 12 Months Ended Dec. 31, 2022 Dec. 31, 2021 Dec. 31, 2020 Dec. 31, 2019 Dec. 31, 2018 $3,105.00 $2,747.00 $544.00 $585.00 $114.00 $289.00 $591.00 $113.00 $1,368.00 $9,456.00 -$298.00 -$166.00 $39.00 -$9.00 -$3.00 -$139.00 -$437.00 -$75.00 -$362.00 Southwest BS -$1.12 -$1.12 $6,037.00 $1,436.00 $2,358.00 $628.00 $540.00 $99.00 $183.00 $626.00 -$833.00 $1,080.00 $6,117.00 -$80.00 -$192.00 $17.00 $47.00 -$55.00 -$183.00 -$263.00 -$81.00 -$182.00 -$0.57 -$0.57 $2,957.00 $631.00 $2,032.00 $358.00 $535.00 $85.00 $110.00 $441.00 -$283.00 $762.00 $4,671.00 -$1,714.00 -$179.00 $23.00 $0.00 -$23.00 -$179.00 -$1,893.00 -$539.00 -$1,354.00 Southwest IS -$4.88 -$4.88 $8,094.00 $1,847.00 $2,320.00 $474.00 $525.00 $99.00 $290.00 $619.00 $1,106.00 $14.00 $7,294.00 $800.00 -$79.00 $32.00 $15.00 $0.00 -$32.00 $768.00 $199.00 $569.00 $1.92 $1.91 $7,658.00 $1,899.00 $2,044.00 $462.00 $469.00 $104.00 $294.00 $625.00 $1,060.00 $435.00 $7,392.00 $266.00 -$70.00 $10.00 $0.00 $13.00 -$47.00 $219.00 $30.00 $189.00 $0.60 $0.60 Ratio Analysis Profitability Liquidity Return on Equity Solvency Return on Assets Gross profit percentage Net profit margin Earnings per share Asset Turnover Quality of Income Total asset turnover Fixed asset turnover Receivable turnover Inventory turnover Current ratio Quick ratio Cash ratio Debt-to-equity Net Income Average Stockholder's Equity Net Income Average Total Assets Gross Profit Revenue Net Income Revenue Net Income Weighted Avg Common Shares OUTSTANDING Cash from Operations Net Income Revenue Average Total Assets Revenue Average NET Fixed Assets Credit sales/revenue Average NET A/R COGS Average inventory Current Assets Current Liabilities Cash+Equivalents+A/R+Marketable securities Current Liabilities Cash and cash equivalents Current liabilities Total Liabilities Total SE Delta BS Delta IS Current Assets Cash and cash equivalents Investment securities Receivables, less allowance Inventories, less allowance Prepaid expenses and other Total current assets Property and Equipment Flight equipment JetBlue Airlines: Consolidated Balance Sheets - USD in Millions Pre-delivery deposits for flight equipment Total flight equipment and pre-delivery deposits, gross Less accumulated depreciation Other Total other assets Total Assets Total flight equipment and pre-delivery deposits, net Other property and equipment, gross Less accumulated depreciation Total other property and equipment, net Total property and equipment, net OPERATING LEASE ASSETS Other Assets Investment securities Restricted cash Intangible assets, net of accumulated amortization JetBlue BS Current Liabilities Accounts payable Air traffic liability Accrued salaries, wages and benefits Other accrued liabilities Current operating lease liabilities Current maturities of long-term debt and finance lease obligations Total current liabilities LONG-TERM DEBT AND FINANCE LEASE OBLIGATIONS LONG-TERM OPERATING LEASE LIABILITIES Deferred Taxes and Other Liabilites Deferred income taxes Air traffic liability - non-current Other Total deferred taxes and other liabilities COMMITMENTS AND CONTINGENCIES (Notes 10 & 11) Stockholders' Equity Preferred stock, $0.01 par value; 25 shares authorized, none issued Common stock, $0.01 par value Treasury stock, at cost Additional paid-in capital Retained earnings Accumulated other comprehensive income Total stockholders' equity Total Liabilities and Stockholders Equity JetBlue IS Southwest BS Dec. 31, 2022 $1,042.00 $350.00 $317.00 $87.00 $120.00 $1,916.00 $11,727.00 $415.00 $12,142.00 $3,578.00 $8,564.00 $1,314.00 $731.00 $583.00 $9,147.00 $660.00 $172.00 $146.00 $298.00 $706.00 $1.322.00 $13,045.00 $532.00 $1,581.00 $498.00 $486.00 $97.00 $554.00 $3,748.00 $3,093.00 $639.00 $770.00 $738.00 $494.00 $2,002.00 $0.00 $5.00 ($1,995.00) $3,129.00 $2,424.00 $0.00 $3,563.00 $13,045.00 Dec. 31, 2021 $2,018.00 $824.00 $207.00 $74.00 $122.00 $3,245.00 $11,161.00 $337.00 $11,498.00 $3,227.00 $8,271.00 $1,205.00 $662.00 $543.00 $8,814.00 $729.00 $39.00 $59.00 $299.00 $457.00 $854.00 $13,642.00 $499.00 $1,618.00 $480.00 $359.00 $106.00 $355.00 $3,417.00 $3,651.00 $690.00 $843.00 $640.00 $552.00 $2,035.00 $0.00 $5.00 ($1,989.00) $3,047.00 $2,786.00 $0.00 $3,849.00 $13,642.00 Southwest IS Dec. 31, 2020 Dec. 31, 2019 $1,918.00 $1,135.00 $98.00 $71.00 $123.00 $3.345.00 $10,256.00 $420.00 $10,676.00 $2,888.00 $7,788.00 $1,202.00 $591.00 $611.00 $8,399.00 $804.00 $2.00 $51.00 $261.00 $544.00 $858,00 $13,406.00 $365.00 $1,122.00 $409.00 $215.00 $113.00 $450.00 $2,674.00 $4.413.00 $752.00 $922.00 $616.00 $78.00 $1,616.00 $0.00 $5.00 ($1,981.00) $2.959.00 $2,968.00 $0.00 $3,951.00 $13,406.00 $959.00 $369.00 $231.00 $81.00 $146.00 $1,786.00 $10,332.00 $433.00 $10,765.00 $2,768.00 $7,997.00 $1,145.00 $528.00 $617.00 $8,614.00 $912.00 $3.00 $59.00 $241.00 $303.00 $606,00 $11,918.00 $401.00 $1,119.00 $376.00 $295.00 $128.00 $344.00 $2,663.00 $1,990.00 $690.00 $1,251.00 $481.00 $44.00 $1,776.00 $0.00 $4.00 ($1,782.00) $2,253.00 $4,322.00 $2.00 $4,799.00 $11,918.00 Dec. 31, 2018 $474.00 $413.00 $211.00 $78.00 $212.00 $1,388.00 $9,525.00 $293.00 $9,818.00 $2,448.00 $7,370.00 $1,074.00 $461.00 $613.00 $7,983.00 $1,056.00 $3.00 $59.00 $470.00 $532.00 $10,959.00 $437.00 $1,035.00 $313.00 $298.00 $133.00 $309.00 $2,525.00 $1,361.00 $798.00 $1,112.00 $447.00 $31.00 $1,590.00 $0.00 $4.00 ($1,272.00) $2,203.00 $3,753.00 ($3.00) $4,685.00 $10,959.00 Delta BS Delta IS Operating Revenue: Total operating revenues Southwest Airines: Consolidated Statement of Income (Loss) - USD in Millions JetBlue BS Operating Expenses, Net: Salaries, wages, and benefits Payroll support and voluntary Employee programs, net Fuel and oil Maintenance materials and repairs Landing fees and airport rentals Depreciation and amortization Other operating expenses Total operating expenses, net Operating Income (Loss) Other Expense (Income): Interest expense Capitalized interest Interest income Loss on extinguishment Other (gains) losses, net Total other expenses (income) Income (Loss) before Income Tax Provision (Benefit) for Income Taxes. Net Income (Loss) Net Income (Loss) per share, basic (in USD per share) Net Income (Loss) per share, Diluted (in USD per share) JetBlue IS Dec. 31, 2022 Dec. 31, 2021 $23,814.00 $9,376.00 $0.00 $5,975.00 $852.00 $1,508.00 $1,351.00 $3,735.00 $22,797.00 $1,017.00 $340.00 -$39.00 -$217.00 $193.00 Southwest BS -$12.00 $289.00 $728.00 $189.00 $539.00 $0.91 $0.87 $15,790.00 $7,743.00 -$2,960.00 $3,310.00 $854.00 $1,456.00 $1,272.00 $2,394.00 $14,069.00 $1,721.00 $467.00 -$36.00 -$13.00 $28.00 $50.00 $396.00 $1,325.00 $348.00 $977.00 $1.65 $1.61 12 Months Ended Dec. 31, 2020 Dec. 31, 2019 $9,048.00 $6,811.00 -$967.00 $1,849.00 $750.00 $1,240.00 $1,255.00 $1,926.00 $12,864.00 -$3,816.00 $349.00 -$35.00 -$32.00 $0.00 -$158.00 $440.00 -$4,256.00 -$1,182.00 -$3,074.00 Southwest IS -$5.44 -$5.44 $22,428.00 $8,293.00 $0.00 $4,347.00 $1,223.00 $1,363.00 $1,219.00 $3,026.00 $19,471.00 $2,957.00 $118.00 -$36.00 -$90.00 -$8.00 $0.00 $2,957.00 $657.00 $2,300.00 $4.28 $4.27 Dec. 31, 2018 $21,965.00 $7,649.00 $0.00 $4,616.00 $1,107.00 $1,334.00 $1,201.00 $2,852.00 $18,759.00 $3,206.00 $131.00 -$38.00 -$69.00 -$18.00 $42.00 $3,164.00 $699.00 $2,465.00 $4.30 $4.29 Delta BS Current Assets: Cash and cash equivalents. Delta IS Delta Airlines: Consolidated Balance Sheets - USD in Millions Short-term investments Accounts receivable, net of an allowance for uncollectible accounts Fuel, expendable parts and supplies inventories, net of an allowance for obsolescence Prepaid expenses and other Total current assets Noncurrent Assets: Property and equipment, net of accumulated depreciation and amortization. Operating lease right-of-use assets Goodwill Equity investments Deferred income taxes, net Other noncurrent assets Total noncurrent assets Total assets Identifiable intangibles, net of accumulated amortization Cash restricted for airport construction Current Liabilities: Current maturities of debt and finance leases Current maturities of operating leases Accounts payable Accrued salaries and related benefits Fuel card obligation Other accrued liabilities. Total current liabilities Noncurrent Liabilities: Debt and finance leases Pension, postretirement and related benefits Noncurrent operating leases Deferred income taxes, net Other noncurrent liabilities Total noncurrent liabilities Commitments and Contingencies Stockholders' Equity: JetBlue BS Common stock at $0.0001 par value; 1,500,000,000 shares authorized Additional paid-in capital Retained earnings/(accumulated deficit) Accumulated other comprehensive loss Treasury stock, at cost Total stockholders' equity Total liabilities and stockholders' equity Air traffic Current Liabilities: Deferred revenue liability, current Noncurrent Liabilities: Deferred revenue liability, noncurrent JetBlue IS Loyalty program Current Liabilities: Deferred revenue liability, current Noncurrent Liabilities: Deferred revenue liability, noncurrent Southwest BS Dec. 31, 2022 $3,266.00 $3,268.00 $3,176.00 $1,424.00 $1,877.00 $13,011.00 $33,109.00 $7,036.00 $9,753.00 $5,992.00 $2,128.00 $325.00 $934.00 $59,277.00 $72,288.00 $2,359.00 $714.00 $5,106.00 $3,288.00 $1,100.00 $1,779.00 $25,940.00 $20,671.00 $3,707.00 $6,866.00 $3,974.00 $39,766.00 $0.00 $11,526.00 $1,170.00 -$5,801.00 -$313.00 $6,582.00 $72,288.00 $8,160.00 $100.00 $3,434.00 $4,448.00 Dec. 31, 2021 $7,933.00 $3,386.00 $2,404.00 $1,098.00 $1,119.00 $15,940.00 $28,749.00 $7,237.00 $9,753.00 $6,001.00 $1,712.00 $1,294.00 $1,773.00 $56.519.00 $72,459.00 $1,782.00 $703.00 $4,240.00 $2,457.00 $1,100.00 $1,746.00 $20,966.00 $25,138.00 $6,035.00 $7,056.00 $4,398.00 $47,606.00 $0.00 $11,447.00 -$148.00 -$7,130.00 -$282.00 $3,887.00 $72,459.00 $6,228.00 $130.00 $2,710.00 $4,849.00 Southwest IS Dec. 31, 2020 $8,307.00 $5,789.00 $1,396.00 $732.00 $1,180.00 $17,404.00 $26,529.00 $5,733.00 $9,753.00 $6,011.00 $1,556,00 $1,665.00 $1,988.00 $1,357.00 $54,592.00 $71,996.00 $1,732.00 $678.00 $2,840.00 $2,086.00 $1,100.00 $1,670.00 $15,927.00 $27,425.00 $10,630.00 $5,713.00 $4,862.00 $54,535.00 $0.00 $11,259.00 -$428.00 -$9,038.00 -$259.00 $1,534.00 $71,996.00 $4,044.00 $500.00 $1,777.00 $5,405.00 Dec. 31, 2019 $2,882.00 $0.00 $2,854.00 $1,251.00 $1,262.00 $8,249.00 $31,310.00 $5,627.00 $9,781.00 $5,163.00 $636.00 $2,568.00 $120.00 $1,078.00 $56,283.00 $64,532.00 $2.287.00 $801.00 $3,266.00 $3,701.00 $736.00 $1,078.00 $20,204.00 $8,873.00 $8,452.00 $5,294.00 $1,456.00 $1,386.00 $28,970.00 $0.00 $11,129.00 $12,454.00 -$7,989.00 -$236.00 $15,358.00 $64,532.00 $5,116.00 $0.00 $3,219.00 $3,509.00 Dec. 31, 2018 $1,565.00 $0.00 $2,314.00 $1,055.00 $1,406.00 $6,340.00 $28,335.00 $5,994.00 $9,781.00 $4,830.00 $1,136.00 $3,850.00 $53,926.00 $60,266.00 $1,518.00 $955.00 $2,976.00 $3,287.00 $1,075.00 $1,117.00 $18,578.00 $8,253.00 $9,163.00 $5,801.00 $163.00 $969.00 $28,001.00 $0.00 $11,671.00 $10,039,00 -$7,825.00 -$198.00 $13,687.00 $60,266.00 $4,661.00 $2,989.00 $3,652.00 Delta BS Current assets: Cash and cash equivalents Delta IS Short-term investments Accounts and other receivables Inventories of parts and supplies, at cost Prepaid expenses and other current assets Total current assets Southwest Airlines: Consolidated Balance Sheet - USD in Millions Property and equipment, at cost: Flight equipment Ground property and equipment Deposits on flight equipment purchase contracts Assets constructed for others Other assets Total assets Property and equipment, at cost Less allowance for depreciation and amortization Property and equipment, net Goodwill Operating lease right-of-use assets Current liabilities: Accounts payable Accrued liabilities Current operating lease liabilities. Air traffic liability Current maturities of long-term debt Total current liabilities Long-term debt less current maturities. Air traffic liability - noncurrent Deferred income taxes Construction obligation Noncurrent operating lease liabilities Other noncurrent liabilities. Stockholders' equity: Common stock, $1.00 par value: 2,000,000,000 shares authorized Capital in excess of par value Retained earnings JetBlue BS Accumulated other comprehensive income/(loss) Treasury stock, at cost Total stockholders' equity Total liabilities and stockholders' equity JetBlue IS Southwest BS Dec. 31, 2022 $9,492.00 $2,800.00 $1,040.00 $790.00 $686.00 $14,808.00 $23,725.00 $6,855.00 $376.00 $28.00 $30,984.00 $13,642.00 $17,342.00 $970.00 $1,394.00 $855.00 $35,369.00 $2,004,00 $2,043.00 $225.00 $6,064.00 $42.00 $10,378.00 $8,046.00 $2,186.00 $1,985.00 - $1,118.00 $969.00 $888.00 $4,037.00 $16,261.00 $344.00 -$10,843.00 $10,687.00 $35,369.00 Dec. 31, 2021 $12,480.00 $3,024.00 $1,357.00 $537.00 $638.00 $18,036.00 $21,226.00 $6,342.00 $0.00 $6.00 $27,574.00 $12.732.00 $14,842.00 $970.00 $1,590.00 $882.00 $36,320.00 $1,282.00 $1,624.00 $239.00 $5,566.00 $453.00 $9,164.00 $10,274.00 $2,159.00 $1,770.00 $1,315.00 $1,224.00 $888.00 $4,224.00 $15,774.00 $388.00 -$10,860.00 $10,414.00 $36,320.00 Southwest IS Dec. 31, 2020 $11,063.00 $2,271.00 $1,130.00 $414.00 $295.00 $15,173.00 $20,877.00 $6,083.00 $305.00 $309.00 $27,574.00 $11,743.00 $15,831.00 $970.00 $1,892.00 $722.00 $34,588.00 $931.00 $2,259.00 $306.00 $3,790.00 $220.00 $7,506.00 $10,111.00 $3,343.00 $1,634.00 $309.00 $1,562.00 $1,247.00 $888.00 $4,191.00 $14,777.00 -$105.00 -$10,875.00 $8,876.00 $34,588.00 Dec. 31, 2019 $2,548.00 $1,524.00 $1,086.00 $529.00 $287.00 $5,974.00 $21,629.00 $5,672.00 $248.00 $164.00 $27,713.00 $10,688.00 $17,025.00 $970.00 $1,349.00 $25,895.00 $1,574.00 $1,749.00 $353.00 $4,457.00 $819.00 $8,952.00 $1,846.00 $1,053.00 $2,364.00 $164.00 $978.00 $706.00 $808.00 $1,581.00 $17,945.00 -$61.00 -$10,441.00 $9,832.00 $25,895.00 Dec. 31, 2018 $1,854.00 $1,835.00 $568.00 $461.00 $310.00 $5,028.00 $21,753.00 $4,960.00 $775.00 $1,768.00 $29,256.00 $9,731.00 $19,525.00 $970.00 $0.00 $720.00 $26,243.00 $1,416.00 $1,749.00 $0.00 $4,134.00 $606.00 $7,905.00 $2,771.00 $936.00 $2,427.00 $1,701.00 $0.00 $650.00 $808.00 $1,510.00 $15,967.00 $20.00 -$8,452.00 $9,853.00 $26,243.00 Delta BS Operating Revenue: Total operating revenue Operating Expense: Salaries and related costs Delta IS Delta Airlines: Consolidated Statements of Operations - USD in Millions Aircraft fuel and related taxes Ancillary businesses and refinery Contracted services Landing fees and other rents Depreciation and amortization. Regional carrier expense Aircraft maintenance materials and outside repairs Passenger commissions and other selling expenses Passenger service Profit sharing Aircraft rent Restructuring charges Government grant recognition Other Total operating expense Operating Income/(Loss) Non-Operating Expense: Interest expense, net Impairments and equity method results Gain/(loss) on investments, net Loss on extinguishment of debt Pension and related benefit Miscellaneous, net JetBlue BS Total non-operating expense, net Income/(Loss) Before Income Taxes Income Tax (Provision)/Benefit Net Income/(Loss) Basic Earnings/(Loss) Per Share (USD per share) Diluted Earnings (Loss) Per Share (USD per share) Cash Dividends Declared Per Share (USD per share) JetBlue IS Dec. 31, 2022 Dec. 31, 2021 $50,582.00 $11,902.00 $11,482.00 $5,756.00 $3,345.00 $2,181.00 $2,107.00 $2,051.00 $1,982.00 $1,891.00 $1,453.00 $563.00 $508.00 -$124.00 $0.00 $1,824.00 $46,921.00 $3,661.00 -$1,029.00 -$20.00 -$783.00 -$100.00 $292.00 -$107.00 -$1,747.00 $1,914.00 -$596.00 $1,318.00 $2.07 $2.06 $0.00 $29,899.00 $9,728.00 $5,633.00 $3,957.00 $2,420.00 $2,019.00 $1,998.00 $1,736.00 $1,401.00 $953.00 $756.00 $108.00 $430.00 -$19.00 -$4,512.00 $1,405.00 $28,013.00 $1,886.00 -$1,279.00 -$337.00 $56.00 -$319.00 $451.00 -$60.00 -$1,488.00 Southwest BS 12 Months Ended Dec. 31, 2020 Dec. 31, 2019 Dec.31, 2018 $17,095.00 $9,001.00 $3,176.00 $1,785.00 $1,953.00 $1,833.00 $2,312.00 $1,584.00 $822.00 $643.00 $551.00 $0.00 $399.00 $8,219.00 -$3,946.00 $1,232.00 $29,564.00 -$12,469.00 -$929.00 -$2,432.00 -$105.00 -$8.00 $219.00 $137.00 -$3,118.00 $398.00 -$15,587.00 -$118.00 $3,202.00 $280.00 -$12,385.00 $0.44 $0.44 $0.00 -$19.49 -$19.49 $0.40 $47,007.00 $11,601.00 $8,519.00 $1,245.00 $2,942.00 $2,176.00 $2,581.00 $2,158.00 $1,751.00 $2,211.00 $1,312.00 $423.00 $0.00 $1,643.00 $0.00 $1,827.00 $40,389.00 $6,618.00 -$301.00 -$62.00 $119.00 $0.00 -$65.00 -$111.00 -$420.00 $6,198.00 -$1,431.00 $4,767.00 Southwest IS $7.32 $7.30 $1.51 $44,438.00 $10,743.00 $9,020.00 $1,695.00 $2,175.00 $1,662.00 $2,329.00 $3,438.00 $1,575.00 $1,941.00 $1,178.00 $394.00 $0.00 $1,301.00 $0.00 $1,723.00 $39,174.00 $5,264.00 -$311.00 -$60.00 $38.00 $0.00 $0.00 $220.00 -$113.00 $5,151.00 -$1,216.00 $3,935.00 $5.69 $5.67 $1.31 Delta BS Delta IS JetBlue Airlines: Consolidated Statements of Operations- USD ($) $ in Millions OPERATING REVENUES Total revenue OPERATING EXPENSES Aircraft fuel and related taxes Salaries, wages and benefits Landing fees and other rents Depreciation and amortization Aircraft rent Sales and marketing Maintenance, materials and repairs Special Items Other operating expenses Total operating expenses OPERATING LOSS/INCOME OTHER EXPENSE/ INCOME Interest expense Interest income Loss/ gain on equity investments, net Other Total other expense INCOME/LOSS BEFORE INCOME TAXES Income tax benefit/expense NET INCOME/LOSS JetBlue BS LOSS/EARNINGS PER COMMON SHARE Basic (in dollars per share) Diluted (in dollars per share) JetBlue IS $9,158.00 12 Months Ended Dec. 31, 2022 Dec. 31, 2021 Dec. 31, 2020 Dec. 31, 2019 Dec. 31, 2018 $3,105.00 $2,747.00 $544.00 $585.00 $114.00 $289.00 $591.00 $113.00 $1,368.00 $9,456.00 -$298.00 -$166.00 $39.00 -$9.00 -$3.00 -$139.00 -$437.00 -$75.00 -$362.00 Southwest BS -$1.12 -$1.12 $6,037.00 $1,436.00 $2,358.00 $628.00 $540.00 $99.00 $183.00 $626.00 -$833.00 $1,080.00 $6,117.00 -$80.00 -$192.00 $17.00 $47.00 -$55.00 -$183.00 -$263.00 -$81.00 -$182.00 -$0.57 -$0.57 $2,957.00 $631.00 $2,032.00 $358.00 $535.00 $85.00 $110.00 $441.00 -$283.00 $762.00 $4,671.00 -$1,714.00 -$179.00 $23.00 $0.00 -$23.00 -$179.00 -$1,893.00 -$539.00 -$1,354.00 Southwest IS -$4.88 -$4.88 $8,094.00 $1,847.00 $2,320.00 $474.00 $525.00 $99.00 $290.00 $619.00 $1,106.00 $14.00 $7,294.00 $800.00 -$79.00 $32.00 $15.00 $0.00 -$32.00 $768.00 $199.00 $569.00 $1.92 $1.91 $7,658.00 $1,899.00 $2,044.00 $462.00 $469.00 $104.00 $294.00 $625.00 $1,060.00 $435.00 $7,392.00 $266.00 -$70.00 $10.00 $0.00 $13.00 -$47.00 $219.00 $30.00 $189.00 $0.60 $0.60 Ratio Analysis Profitability Liquidity Return on Equity Solvency Return on Assets Gross profit percentage Net profit margin Earnings per share Asset Turnover Quality of Income Total asset turnover Fixed asset turnover Receivable turnover Inventory turnover Current ratio Quick ratio Cash ratio Debt-to-equity Net Income Average Stockholder's Equity Net Income Average Total Assets Gross Profit Revenue Net Income Revenue Net Income Weighted Avg Common Shares OUTSTANDING Cash from Operations Net Income Revenue Average Total Assets Revenue Average NET Fixed Assets Credit sales/revenue Average NET A/R COGS Average inventory Current Assets Current Liabilities Cash+Equivalents+A/R+Marketable securities Current Liabilities Cash and cash equivalents Current liabilities Total Liabilities Total SE Delta BS Delta IS Current Assets Cash and cash equivalents Investment securities Receivables, less allowance Inventories, less allowance Prepaid expenses and other Total current assets Property and Equipment Flight equipment JetBlue Airlines: Consolidated Balance Sheets - USD in Millions Pre-delivery deposits for flight equipment Total flight equipment and pre-delivery deposits, gross Less accumulated depreciation Other Total other assets Total Assets Total flight equipment and pre-delivery deposits, net Other property and equipment, gross Less accumulated depreciation Total other property and equipment, net Total property and equipment, net OPERATING LEASE ASSETS Other Assets Investment securities Restricted cash Intangible assets, net of accumulated amortization JetBlue BS Current Liabilities Accounts payable Air traffic liability Accrued salaries, wages and benefits Other accrued liabilities Current operating lease liabilities Current maturities of long-term debt and finance lease obligations Total current liabilities LONG-TERM DEBT AND FINANCE LEASE OBLIGATIONS LONG-TERM OPERATING LEASE LIABILITIES Deferred Taxes and Other Liabilites Deferred income taxes Air traffic liability - non-current Other Total deferred taxes and other liabilities COMMITMENTS AND CONTINGENCIES (Notes 10 & 11) Stockholders' Equity Preferred stock, $0.01 par value; 25 shares authorized, none issued Common stock, $0.01 par value Treasury stock, at cost Additional paid-in capital Retained earnings Accumulated other comprehensive income Total stockholders' equity Total Liabilities and Stockholders Equity JetBlue IS Southwest BS Dec. 31, 2022 $1,042.00 $350.00 $317.00 $87.00 $120.00 $1,916.00 $11,727.00 $415.00 $12,142.00 $3,578.00 $8,564.00 $1,314.00 $731.00 $583.00 $9,147.00 $660.00 $172.00 $146.00 $298.00 $706.00 $1.322.00 $13,045.00 $532.00 $1,581.00 $498.00 $486.00 $97.00 $554.00 $3,748.00 $3,093.00 $639.00 $770.00 $738.00 $494.00 $2,002.00 $0.00 $5.00 ($1,995.00) $3,129.00 $2,424.00 $0.00 $3,563.00 $13,045.00 Dec. 31, 2021 $2,018.00 $824.00 $207.00 $74.00 $122.00 $3,245.00 $11,161.00 $337.00 $11,498.00 $3,227.00 $8,271.00 $1,205.00 $662.00 $543.00 $8,814.00 $729.00 $39.00 $59.00 $299.00 $457.00 $854.00 $13,642.00 $499.00 $1,618.00 $480.00 $359.00 $106.00 $355.00 $3,417.00 $3,651.00 $690.00 $843.00 $640.00 $552.00 $2,035.00 $0.00 $5.00 ($1,989.00) $3,047.00 $2,786.00 $0.00 $3,849.00 $13,642.00 Southwest IS Dec. 31, 2020 Dec. 31, 2019 $1,918.00 $1,135.00 $98.00 $71.00 $123.00 $3.345.00 $10,256.00 $420.00 $10,676.00 $2,888.00 $7,788.00 $1,202.00 $591.00 $611.00 $8,399.00 $804.00 $2.00 $51.00 $261.00 $544.00 $858,00 $13,406.00 $365.00 $1,122.00 $409.00 $215.00 $113.00 $450.00 $2,674.00 $4.413.00 $752.00 $922.00 $616.00 $78.00 $1,616.00 $0.00 $5.00 ($1,981.00) $2.959.00 $2,968.00 $0.00 $3,951.00 $13,406.00 $959.00 $369.00 $231.00 $81.00 $146.00 $1,786.00 $10,332.00 $433.00 $10,765.00 $2,768.00 $7,997.00 $1,145.00 $528.00 $617.00 $8,614.00 $912.00 $3.00 $59.00 $241.00 $303.00 $606,00 $11,918.00 $401.00 $1,119.00 $376.00 $295.00 $128.00 $344.00 $2,663.00 $1,990.00 $690.00 $1,251.00 $481.00 $44.00 $1,776.00 $0.00 $4.00 ($1,782.00) $2,253.00 $4,322.00 $2.00 $4,799.00 $11,918.00 Dec. 31, 2018 $474.00 $413.00 $211.00 $78.00 $212.00 $1,388.00 $9,525.00 $293.00 $9,818.00 $2,448.00 $7,370.00 $1,074.00 $461.00 $613.00 $7,983.00 $1,056.00 $3.00 $59.00 $470.00 $532.00 $10,959.00 $437.00 $1,035.00 $313.00 $298.00 $133.00 $309.00 $2,525.00 $1,361.00 $798.00 $1,112.00 $447.00 $31.00 $1,590.00 $0.00 $4.00 ($1,272.00) $2,203.00 $3,753.00 ($3.00) $4,685.00 $10,959.00 Delta BS Delta IS Operating Revenue: Total operating revenues Southwest Airines: Consolidated Statement of Income (Loss) - USD in Millions JetBlue BS Operating Expenses, Net: Salaries, wages, and benefits Payroll support and voluntary Employee programs, net Fuel and oil Maintenance materials and repairs Landing fees and airport rentals Depreciation and amortization Other operating expenses Total operating expenses, net Operating Income (Loss) Other Expense (Income): Interest expense Capitalized interest Interest income Loss on extinguishment Other (gains) losses, net Total other expenses (income) Income (Loss) before Income Tax Provision (Benefit) for Income Taxes. Net Income (Loss) Net Income (Loss) per share, basic (in USD per share) Net Income (Loss) per share, Diluted (in USD per share) JetBlue IS Dec. 31, 2022 Dec. 31, 2021 $23,814.00 $9,376.00 $0.00 $5,975.00 $852.00 $1,508.00 $1,351.00 $3,735.00 $22,797.00 $1,017.00 $340.00 -$39.00 -$217.00 $193.00 Southwest BS -$12.00 $289.00 $728.00 $189.00 $539.00 $0.91 $0.87 $15,790.00 $7,743.00 -$2,960.00 $3,310.00 $854.00 $1,456.00 $1,272.00 $2,394.00 $14,069.00 $1,721.00 $467.00 -$36.00 -$13.00 $28.00 $50.00 $396.00 $1,325.00 $348.00 $977.00 $1.65 $1.61 12 Months Ended Dec. 31, 2020 Dec. 31, 2019 $9,048.00 $6,811.00 -$967.00 $1,849.00 $750.00 $1,240.00 $1,255.00 $1,926.00 $12,864.00 -$3,816.00 $349.00 -$35.00 -$32.00 $0.00 -$158.00 $440.00 -$4,256.00 -$1,182.00 -$3,074.00 Southwest IS -$5.44 -$5.44 $22,428.00 $8,293.00 $0.00 $4,347.00 $1,223.00 $1,363.00 $1,219.00 $3,026.00 $19,471.00 $2,957.00 $118.00 -$36.00 -$90.00 -$8.00 $0.00 $2,957.00 $657.00 $2,300.00 $4.28 $4.27 Dec. 31, 2018 $21,965.00 $7,649.00 $0.00 $4,616.00 $1,107.00 $1,334.00 $1,201.00 $2,852.00 $18,759.00 $3,206.00 $131.00 -$38.00 -$69.00 -$18.00 $42.00 $3,164.00 $699.00 $2,465.00 $4.30 $4.29