Southwest Airlines Co. (LUV) · 38 Years of Financial statements

Income Statement

Revenue

680

756

765

860

1,015

1,187

1,314

1,685

2,297

2,592

2,873

3,406

3,817

4,164

4,736

5,650

5,555

5,522

5,937

6,530

7,584

9,086

9,861

11,023

10,350

12,104

15,658

17,088

17,699

18,605

19,820

20,425

21,171

21,965

22,428

9,048

15,790

23,814

COGS

311

267

352

400

483

596

675

793

1,099

1,526

1,748

2,107

2,204

2,229

2,535

2,966

3,150

3,233

3,353

3,687

4,210

5,238

6,018

3,618

2,859

5,358

7,866

14,243

14,209

14,049

13,423

14,151

14,968

15,907

16,445

10,938

11,675

19,062

Gross Profit

369

489

414

460

532

591

638

892

1,198

1,066

1,125

1,299

1,613

1,935

2,200

2,684

2,405

2,289

2,584

2,843

3,374

3,848

3,843

7,405

7,491

6,746

7,792

2,845

3,490

4,556

6,397

6,274

6,203

6,058

5,983

(1,890)

4,115

4,752

Gross Profit Ratio

54.22%

64.65%

54.05%

53.49%

52.45%

49.78%

48.59%

52.94%

52.16%

41.12%

39.15%

38.13%

42.26%

46.48%

46.46%

47.51%

43.30%

41.46%

43.52%

43.54%

44.49%

42.35%

38.97%

67.18%

72.38%

55.73%

49.76%

16.65%

19.72%

24.49%

32.28%

30.72%

29.30%

27.58%

26.68%

(20.89)%

26.06%

19.95%

Operating Expenses

290

413

396

374

435

509

575

709

906

2,556

2,889

3,434

3,698

3,897

4,396

5,090

5,427

5,636

6,393

6,563

7,381

8,805

9,786

5,324

5,421

5,758

6,965

2,039

2,126

2,205

2,242

2,514

2,688

2,852

3,026

1,926

2,394

3,735

R&D Expenses

- -

Selling, G&A Exp.

236

345

331

308

362

429

489

608

787

1,188

1,321

1,519

1,542

1,861

1,897

2,145

2,359

2,524

2,827

3,032

3,319

3,705

3,929

3,340

3,468

3,704

4,371

- -

General and Admin. Exp.

- -

1,340

1,445

1,660

1,700

2,019

2,053

2,304

2,462

2,579

2,875

3,034

3,319

3,705

3,929

3,340

3,468

3,704

4,371

- -

Selling and Marketing Exp.

- -

(151)

(123)

(141)

(157)

(158)

(156)

(159)

(103)

(55)

(48)

(2)

- -

Other Expenses

54

68

66

72

79

86

101

119

1,368

1,568

1,915

2,156

2,037

2,499

2,945

3,068

3,112

3,566

3,531

4,062

5,100

5,857

1,984

1,953

2,054

2,594

2,039

2,126

2,205

2,242

2,514

2,688

2,852

3,026

1,926

2,394

3,735

COGS and Expenses

601

680

748

775

917

1,105

1,251

1,503

2,005

4,083

4,637

5,541

5,902

6,126

6,931

8,055

8,577

8,869

9,746

10,250

11,591

14,043

15,804

8,942

8,280

11,116

14,831

16,282

16,335

16,254

15,665

16,665

17,656

18,759

19,471

12,864

14,069

22,797

Interest Income

- -

51

13

12

10

7

6

7

9

24

35

69

90

32

13

217

Interest Expense

- -

130

165

149

182

126

107

90

75

65

93

82

314

431

301

Depreciation and Amortization

54

68

66

(72)

(79)

(86)

(101)

(119)

139

157

183

196

225

249

281

318

356

384

431

469

515

555

599

616

628

715

844

867

938

1,015

1,221

1,218

1,201

1,219

1,255

1,272

1,351

EBITDA

114

133

95

152

39

(5)

(42)

58

156

439

462

525

713

930

1,022

1,277

1,145

749

1,092

920

1,343

1,305

1,613

1,007

945

1,522

1,220

1,655

2,183

2,861

4,584

4,843

4,534

4,458

4,258

(2,687)

3,028

2,380

EBITDA ratio

16.83%

17.58%

12.36%

17.62%

3.81%

(0.39)%

(3.23)%

3.45%

6.78%

16.92%

16.08%

15.41%

18.67%

22.34%

21.59%

22.59%

20.62%

13.56%

18.39%

14.09%

17.71%

14.36%

16.36%

9.14%

9.13%

12.57%

7.79%

9.69%

12.33%

15.38%

23.13%

23.71%

21.42%

20.30%

18.99%

(29.70)%

19.18%

9.99%

Operating Income

79

76

17

86

98

82

63

183

292

317

314

351

524

684

782

1,021

631

417

483

554

820

934

791

449

262

988

693

623

1,278

2,225

4,116

3,760

3,515

3,206

2,957

(3,816)

1,721

1,017

Operating Income ratio

11.56%

10.07%

2.25%

9.98%

9.62%

6.91%

4.79%

10.84%

12.71%

12.22%

10.91%

10.30%

13.73%

16.42%

16.50%

18.07%

11.36%

7.56%

8.14%

8.48%

10.81%

10.28%

8.02%

4.07%

2.53%

8.16%

4.43%

3.65%

7.22%

11.96%

20.77%

18.41%

16.60%

14.60%

13.18%

(42.18)%

10.90%

4.27%

Total Other Income Exp.(Gains)

(18)

(11)

12

(1)

13

(7)

(19)

(36)

(32)

(17)

(8)

(9)

(7)

22

(8)

(4)

197

(25)

225

(65)

54

(144)

267

(171)

(98)

(243)

(370)

62

(69)

(409)

(637)

(213)

(264)

(42)

- -

(440)

(396)

(289)

Income Before Tax

61

65

29

85

111

75

44

147

260

300

305

341

517

705

774

1,017

828

393

708

489

874

790

1,058

278

164

745

323

685

1,209

1,816

3,479

3,547

3,251

3,164

2,957

(4,256)

1,325

728

Income Before Tax ratio

8.95%

8.65%

3.80%

9.93%

10.93%

6.30%

3.33%

8.71%

11.31%

11.56%

10.62%

10.02%

13.54%

16.93%

16.34%

18.01%

14.90%

7.11%

11.93%

7.49%

11.52%

8.69%

10.73%

2.52%

1.58%

6.15%

2.06%

4.01%

6.83%

9.76%

17.55%

17.37%

15.36%

14.40%

13.18%

(47.04)%

8.39%

3.06%

Income Tax Expense (Gain)

14

15

9

27

39

28

17

56

105

120

123

134

199

272

299

392

317

152

266

176

326

291

413

100

65

286

145

264

455

680

1,298

1,303

(237)

699

657

(1,182)

348

189

Net Income

47

50

20

58

72

47

27

104

170

179

183

207

318

433

474

603

511

241

442

313

548

499

645

178

99

459

178

421

754

1,136

2,181

2,244

3,488

2,465

2,300

(3,074)

977

539

Net Income Ratio

6.96%

6.61%

2.64%

6.74%

7.05%

3.97%

2.05%

6.14%

7.38%

6.92%

6.36%

6.09%

8.33%

10.41%

10.02%

10.68%

9.20%

4.36%

7.44%

4.79%

7.23%

5.49%

6.54%

1.61%

0.96%

3.79%

1.14%

2.46%

4.26%

6.11%

11.00%

10.99%

16.48%

11.22%

10.26%

(33.97)%

6.19%

2.26%

EPS

0.07

0.03

0.08

0.10

0.07

0.04

0.15

0.23

0.24

0.27

0.43

0.58

0.63

0.81

0.67

0.31

0.56

0.40

0.70

0.63

0.85

0.24

0.13

0.62

0.23

0.56

1.06

1.65

3.30

3.58

5.80

4.30

4.28

(5.44)

1.65

0.91

EPS Diluted

0.07

0.03

0.08

0.10

0.07

0.04

0.15

0.23

0.24

0.27

0.41

0.55

0.59

0.76

0.63

0.30

0.54

0.38

0.67

0.61

0.84

0.24

0.13

0.61

0.23

0.56

1.05

1.64

3.27

3.55

5.79

4.29

4.27

(5.44)

1.61

0.89

Weighted Avg. Shares Outs.

676

714

673

725

716

673

690

737

744

752

766

740

750

757

748

763

777

789

783

792

759

735

741

746

774

750

710

687

661

627

601

573

538

565

592

Weighted Avg. Shares Outs. Dil.

676

714

673

725

716

673

690

737

757

752

779

766

793

800

794

811

803

819

824

818

768

739

741

747

775

757

718

696

669

633

603

574

539

565

607

SEC Link

Link

Balance Sheet

Cash and Cash Equivalents

- -

317

582

623

379

419

523

2,280

1,815

1,865

1,305

2,280

1,390

2,213

1,368

1,114

1,261

829

1,113

1,355

1,282

1,583

1,680

1,495

1,854

2,548

11,063

12,480

9,492

Short-Term Investments

- -

251

369

566

435

1,479

2,277

2,315

1,857

1,797

1,706

1,468

1,625

1,778

1,835

1,524

2,271

3,024

2,800

Cash & Short-Term Investments

- -

317

582

623

379

419

523

2,280

1,815

1,865

1,305

2,531

1,759

2,779

1,803

2,593

3,538

3,144

2,970

3,152

2,988

3,051

3,305

3,273

3,689

4,072

13,334

15,504

12,292

Net Receivables

- -

80

73

77

89

73

138

71

174

132

248

258

241

279

209

169

195

299

332

419

365

474

546

662

568

1,086

1,130

1,357

1,040

Inventory

- -

41

51

52

50

65

81

71

86

93

137

150

181

259

203

221

243

401

469

467

342

311

337

420

461

529

414

537

790

Other Current Assets

- -

35

45

54

57

74

90

99

156

223

482

681

420

1,126

678

375

303

501

456

418

709

188

310

460

310

287

295

638

686

Total Current Assets

- -

473

751

806

574

631

832

2,520

2,232

2,313

2,172

3,620

2,601

4,443

2,893

3,358

4,279

4,345

4,227

4,456

4,404

4,024

4,498

4,815

5,028

5,974

15,173

18,036

14,808

PP&E

- -

2,779

2,969

3,436

4,138

5,008

5,820

6,445

6,645

7,443

8,723

9,427

10,094

10,874

11,040

10,634

10,578

12,127

12,766

13,389

14,292

15,601

17,044

18,539

19,525

18,374

17,723

16,432

18,736

Goodwill

- -

970

Intangible Assets

- -

138

166

363

464

426

413

399

296

295

- -

Goodwill and Intangible Assets

- -

970

1,108

1,136

1,333

1,434

1,396

1,383

1,369

1,266

1,265

970

Investments

- -

41

44

35

40

- -

Tax Assets

- -

Other Non-Current Assets

- -

4

3

4

13

18

31

76

122

442

1,171

765

1,455

375

277

606

626

454

320

136

213

348

373

320

281

427

882

855

Total Non-Current Assets

- -

2,783

2,972

3,440

4,142

5,021

5,838

6,477

6,722

7,565

9,165

10,598

10,859

12,329

11,415

10,911

11,184

13,723

14,369

14,889

15,796

17,288

18,788

20,295

21,214

19,921

19,415

18,284

20,561

Other Assets

- -

Total Assets

- -

3,256

3,723

4,246

4,716

5,652

6,670

8,997

8,954

9,878

11,337

14,218

13,460

16,772

14,308

14,269

15,463

18,068

18,596

19,345

20,200

21,312

23,286

25,110

26,242

25,895

34,588

36,320

35,369

Accounts Payable

- -

117

214

161

157

313

505

362

405

420

524

643

759

668

746

739

1,057

1,107

189

123

178

138

186

263

304

111

1,282

2,004

Short-Term Debt

- -

14

12

121

12

8

109

515

130

206

146

601

122

41

163

190

505

644

271

629

258

637

566

348

606

1,172

526

692

267

Tax Payable

- -

67

211

244

241

252

260

288

306

133

- -

Deferred Revenue

- -

1,198

1,836

2,170

2,571

2,897

2,990

3,115

3,460

4,134

4,457

3,790

5,566

6,064

Other Current Liabilities

- -

480

539

586

681

796

877

1,220

941

1,112

1,576

2,723

2,122

4,038

1,975

1,740

863

996

1,035

2,076

2,401

3,360

2,773

2,651

2,614

2,713

2,946

1,624

2,043

Total Current Liabilities

- -

611

765

869

851

960

1,298

2,239

1,434

1,723

2,142

3,848

2,887

4,838

2,806

2,676

3,305

4,533

4,650

5,676

5,923

7,406

6,844

6,905

7,905

8,952

7,506

9,164

10,378

Long-Term Debt

- -

661

650

628

623

872

761

1,327

1,553

1,332

1,700

1,394

1,567

2,050

3,498

3,325

2,875

3,107

2,883

2,191

2,434

2,541

2,821

3,320

2,771

1,846

11,673

11,589

9,164

Deferred Revenue

- -

245

275

256

238

223

208

192

184

168

152

136

120

106

105

102

88

75

63

65

53

43

30

- -

936

1,053

3,343

2,159

2,186

Deferred Tax Liabilities

- -

282

350

439

549

692

853

1,058

1,227

1,420

1,610

1,896

2,104

2,535

1,904

2,207

2,493

2,566

2,884

2,934

3,259

2,490

3,374

2,358

2,427

2,364

1,634

1,770

1,985

Other Non-Current Liabilities

- -

30

35

45

56

69

98

166

134

183

209

269

333

302

1,042

493

465

910

1,124

1,143

1,756

1,474

1,776

2,097

2,351

1,848

1,556

1,224

969

Total Non-Current Liabilities

- -

1,218

1,310

1,369

1,467

1,856

1,920

2,744

3,098

3,103

3,671

3,695

4,124

4,993

6,549

6,127

5,921

6,658

6,954

6,333

7,502

6,548

8,001

7,775

8,485

7,111

18,206

16,742

14,304

Other Liabilities

- -

Capital Lease Obligations

- -

1,331

1,868

1,554

1,343

Total Liabilities

- -

1,829

2,075

2,237

2,318

2,816

3,218

4,983

4,532

4,826

5,813

7,543

7,011

9,831

9,355

8,803

9,226

11,191

11,604

12,009

13,425

13,954

14,845

14,680

16,390

16,063

25,712

25,906

24,682

Preferred Stock

- -

Common Stock

- -

144

145

221

336

505

508

767

777

789

790

802

808

888

Retained Earnings

- -

1,121

1,322

1,632

2,045

2,386

2,902

3,228

3,455

3,883

4,089

4,557

4,307

4,788

4,919

4,983

5,399

5,395

5,768

6,431

7,416

9,409

11,418

14,621

15,967

17,945

14,777

15,774

16,261

Other Compreh. Income(Loss)

- -

(1,005)

(1,188)

(1,376)

(1,601)

(1,841)

(2,148)

(2,456)

54

122

417

892

582

1,241

(984)

(578)

(262)

(224)

(119)

(3)

(738)

(1,051)

(323)

12

20

(61)

(105)

388

344

Other Total Stockhold. Equity

- -

1,168

1,370

1,531

1,618

1,786

2,189

2,475

136

258

228

424

752

104

210

253

292

898

535

100

(711)

(1,808)

(3,462)

(5,011)

(6,942)

(8,860)

(6,684)

(6,636)

- -

Total Stockholders Equity

- -

1,427

1,648

2,009

2,398

2,836

3,451

4,014

4,422

5,052

5,524

6,675

6,449

6,941

4,953

5,466

6,237

6,877

6,992

7,336

6,775

7,358

8,441

10,430

9,853

9,832

8,876

10,414

10,687

Total Liab.&Stockhold. Equity

- -

3,256

3,723

4,246

4,716

5,652

6,670

8,997

8,954

9,878

11,337

14,218

13,460

16,772

14,308

14,269

15,463

18,068

18,596

19,345

20,200

21,312

23,286

25,110

26,243

25,895

34,588

36,320

35,369

Minority Interest

- -

Total Liabilities & Equity

- -

3,256

3,723

4,246

4,716

5,652

6,670

8,997

8,954

9,878

11,337

14,218

13,460

16,772

14,308

14,269

15,463

18,068

18,596

19,345

20,200

21,312

23,286

25,110

26,243

25,895

34,588

36,320

35,369

SEC Link

Link

Cash Flow Statement

Net Income

- -

72

47

27

104

170

179

183

207

318

433

474

603

511

241

442

313

548

499

645

178

99

459

178

421

754

1,136

2,181

2,244

3,488

2,465

2,300

(3,074)

977

539

Depreciation and Amortization

- -

(72)

(79)

(86)

(101)

(119)

139

157

183

196

225

249

281

318

356

384

431

469

515

555

599

616

628

715

844

867

938

1,015

1,221

1,218

1,201

1,219

1,255

1,272

1,351

Deferred Income Tax

- -

17

(9)

(4)

21

53

50

48

67

82

108

143

153

208

170

183

184

257

277

328

56

72

133

123

251

50

501

(109)

455

(1,212)

301

(55)

(716)

(21)

282

Stock Based Compensation

- -

18

13

- -

Change in Working Capital

- -

33

19

24

77

87

61

72

(13)

3

109

105

162

334

(300)

203

180

907

9

1,473

(2,134)

63

312

293

383

680

558

1,070

182

227

941

606

1,669

(100)

1,483

Accounts Receivable

- -

(1)

(6)

(4)

(14)

(5)

(4)

6

(3)

(12)

15

(63)

67

(103)

43

(75)

(9)

(5)

(38)

- -

(26)

- -

Inventory

- -

Accounts Payable

- -

31

21

39

66

68

53

62

132

9

53

64

129

203

(149)

129

231

855

(223)

1,609

- -

Other Working Capital

- -

17

25

(137)

(5)

47

57

(467)

281

798

590

30

(228)

(286)

(395)

(194)

(90)

(96)

(188)

334

400

326

94

125

345

506

440

1,623

- -

525

Other Non-Cash Items

- -

119

134

142

164

203

(16)

(3)

170

13

11

31

99

114

54

124

49

48

106

(156)

(238)

122

29

76

165

126

(231)

(919)

191

208

(15)

(83)

(261)

194

135

Cash Provided by Operating Activities

- -

168

112

103

265

393

413

456

615

611

886

1,002

1,298

1,485

520

1,336

1,157

2,229

1,406

2,845

(1,521)

985

1,561

1,385

2,064

2,477

2,902

3,238

4,293

3,929

4,893

3,987

(1,127)

2,322

3,790

CAPEX

- -

(262)

(318)

(341)

(409)

(524)

(789)

(729)

(677)

(689)

(947)

(1,168)

(1,135)

(998)

(603)

(1,238)

(1,775)

(1,210)

(1,399)

(1,331)

(923)

(585)

(493)

(968)

(1,348)

(1,447)

(1,828)

(2,143)

(2,147)

(2,249)

(1,976)

(1,027)

(515)

(511)

(3,946)

Acquisitions Net

- -

(34)

(6)

(20)

- -

(35)

- -

Purchases of Investments

- -

(4,509)

(5,086)

(5,886)

(6,106)

(5,624)

(5,362)

(2,481)

(3,135)

(3,080)

(1,986)

(2,388)

(2,380)

(2,409)

(2,122)

(5,080)

(5,824)

(5,592)

Sales/Maturities of Investments

- -

6

4,392

4,888

5,831

5,120

4,852

5,314

2,996

3,198

3,185

2,223

2,263

2,221

2,342

2,446

4,336

5,071

5,792

Other Investing Activities

- -

1

2

0

- -

(41)

- -

41

- -

2

- -

(1,752)

(2,048)

(2,038)

(2,123)

(1,917)

(627)

728

(505)

(3,924)

Cash Used for Investing Activities

- -

(261)

(315)

(341)

(409)

(524)

(789)

(729)

(677)

(689)

(947)

(1,168)

(1,135)

(998)

(603)

(1,238)

(1,850)

(1,210)

(1,495)

(1,529)

(978)

(1,569)

(1,265)

(1,051)

(833)

(1,384)

(1,727)

(1,913)

(2,272)

(2,408)

(2,038)

(303)

(16)

(1,264)

(3,746)

Debt Repayment

- -

(47)

(30)

(14)

(9)

(120)

(63)

(10)

(13)

(119)

(12)

(10)

(111)

(540)

(130)

(207)

(149)

(607)

(122)

(55)

(583)

(199)

(621)

(578)

(313)

(561)

(213)

(591)

(592)

(342)

(615)

(5,522)

(905)

(3,085)

Common Stock Issued

- -

91

7

9

11

16

40

44

64

70

44

57

93

88

132

260

139

- -

2,294

- -

Common Stock Repurchased

- -

(10)

(26)

- -

(0)

- -

(100)

(91)

(109)

- -

(246)

(55)

(800)

(1,001)

(54)

- -

(225)

(400)

(540)

(955)

(1,180)

(1,750)

(1,600)

(2,000)

(451)

- -

Dividends Paid

- -

(4)

(5)

(6)

(7)

(9)

(11)

(13)

(14)

(13)

(14)

(22)

(71)

(139)

(180)

(222)

(274)

(332)

(372)

(188)

- -

Other Financing Activities

- -

91

204

429

218

108

315

420

330

99

- -

256

- -

1,351

115

3

512

299

360

505

1,776

926

63

94

53

73

407

549

639

760

178

(3)

13,525

1,264

53

Cash Used/Provided by Financing Activities

- -

30

145

411

295

(11)

255

415

327

120

(184)

206

(59)

1,270

(382)

(48)

133

213

(801)

(493)

1,654

330

(149)

(766)

(947)

(851)

(1,248)

(1,024)

(1,924)

(1,706)

(2,496)

(2,990)

9,658

359

(3,032)

Effect of Forex Changes on Cash

- -

Net Change In Cash

- -

30

145

411

295

(11)

(121)

143

264

42

(245)

40

104

1,757

(465)

50

(560)

1,232

(890)

823

(845)

(254)

147

(432)

284

242

(73)

301

97

(185)

359

694

8,515

1,417

(2,988)

Cash at the End of Period

- -

175

317

582

623

379

419

523

2,280

1,815

1,865

1,305

2,280

1,390

2,213

1,368

1,114

1,261

829

1,113

1,355

1,282

1,583

1,680

1,495

1,854

2,548

11,063

12,480

9,492

Cash at the Beginning of Period

- -

210

146

88

261

438

296

175

317

582

623

379

419

523

2,280

1,815

1,865

1,048

2,280

1,390

2,213

1,368

1,114

1,261

829

1,113

1,355

1,282

1,583

1,680

1,495

1,854

2,548

11,063

12,480

Free Cash Flow

- -

(94)

(206)

(238)

(145)

(132)

(376)

(272)

(62)

(78)

(61)

(166)

164

487

(83)

98

(618)

1,019

7

1,514

(2,444)

400

1,068

417

716

1,030

1,074

1,095

2,146

1,680

2,917

2,960

(1,642)

1,811

(156)

SEC Link

Link

Forex Rate

- -

Powered by AI

Southwest Airlines Co.

30.59