JETBLUE AIRWAYS CORPORATION  -  2013 Annual Report 30 Reconciliation of Operating Expense per ASM, excluding Fuel and Profit Sharing (in millions, per ASM data in cents) 2013 2012 Per ASM Year-over-Year Change $ per ASM $ per ASM % Total operating expenses $ 5,013 11.71 $ 4,606 11.49 1.9% Less: Aircraft fuel and related taxes 1,899 4.43 1,806 4.50 (1.6) Operating expenses, excluding fuel 3,114 7.28 2,800 6.99 4.2 Less: Profit sharing 12 0.03 3 0.01 200.0 OPERATING EXPENSE, EXCLUDING FUEL & PROFIT SHARING $ 3,102 7.25 $ 2,797 6.98 3.8 Costs per Available Seat Mile (Non-GAAP) volatility in earnings, is useful to management and investors. We believe  this non-GAAP measure is more indicative of our ability to manage our  costs and provides a meaningful comparison of our results to the airline  industry and our prior year results. Investors should consider this non-GAAP  financial measure in addition to, and not as a substitute for, our financial  performance measures prepared in accordance with GAAP. Costs per available seat mile, or CASM, is a commonly used metric  in the airline industry. Our CASM for 2013 and 2012 are summarized  in the table below. We have listed separately our fuel costs and profit  sharing expense. While these amounts are included in CASM, we believe  excluding fuel costs, which are subject to many economic and political  factors beyond our control, as well as profit sharing, which is sensitive to  Our effective tax rate was 39% in 2012 compared to 41% in 2011. Our effective tax rate differs from the statutory income tax rate primarily due to  state income taxes, the change in valuation allowance and the non-deductibility of certain items for tax purposes. The rate decrease was attributable  to reductions in certain non-deductible items and the relative size of these items to our pre-tax income. Income Taxes PART II  ITEM 7 Management’s Discussion and Analysis of Financial Condition and Results of Operations