Business Context and Reporting Period
This Form 8-K is a current report filed by JetBlue Airways Corporation on August 26, 2009. The filing addresses a specific accounting event related to the adoption of FASB Staff Position APB 14-1 regarding the Company's 2005 3.75% convertible unsecured notes due 2035.
Key Financial Metrics
The filing text does not provide current revenue, profit, cash flow, margins, debt, or liquidity figures. It references historical financial information for the year ended December 31, 2008, specifically regarding the accounting treatment of convertible debt, but does not list specific monetary values for these metrics in this document.
Material Changes
The primary material change disclosed is the submission of previously omitted documentation. On June 1, 2009, the Company filed an 8-K to show the effects of adopting FSP APB 14-1 on its 2008 annual financial information. That prior filing did not include the financial statement schedule for the three years ended December 31, 2008, nor the related Report of the Independent Registered Public Accounting Firm. This current filing provides those missing documents as Exhibit 99.1.
Guidance, Outlook, and Risks
The filing contains no management guidance, future outlook, risk factors, or discussion of contingencies. It is strictly an administrative filing to complete the record of a prior accounting standard adoption.
Investor Verification Checklist
- Verify the contents of Exhibit 99.1 (Schedule II - Valuation and Qualifying Accounts) to confirm the impact of FSP APB 14-1 on the 2008 financial statements.
- Review the Report of the Independent Registered Public Accounting Firm included in Exhibit 99.1 for any qualifications or emphasis of matter.
- Confirm that the 2005 3.75% convertible unsecured notes due 2035 are accounted for correctly under the new standard in subsequent filings.