Financial Statements for Southwest Airlines Co.

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Southwest Airlines Co. financials

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Income Statement

Balance Sheet

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In Millions of USD (except for per share items)	3 months ending 2013-03-31	3 months ending 2012-12-31	3 months ending 2012-09-30	3 months ending 2012-06-30	3 months ending 2012-03-31
Revenue	4,084.00	4,172.00	4,309.00	4,616.00	3,991.00
Other Revenue, Total	-	-	-	-	-
Total Revenue	4,084.00	4,172.00	4,309.00	4,616.00	3,991.00
Cost of Revenue, Total	3,290.00	3,307.00	3,387.00	3,440.00	3,265.00
Gross Profit	794.00	865.00	922.00	1,176.00	726.00
Selling/General/Admin. Expenses, Total	-	-	-	-	-
Research & Development	-	-	-	-	-
Depreciation/Amortization	210.00	224.00	217.00	202.00	201.00
Interest Expense(Income) - Net Operating	-	-	-	-	-
Unusual Expense (Income)	13.00	14.00	145.00	11.00	13.00
Other Operating Expenses, Total	501.00	537.00	509.00	503.00	490.00
Total Operating Expense	4,014.00	4,082.00	4,258.00	4,156.00	3,969.00
Operating Income	70.00	90.00	51.00	460.00	22.00
Interest Income(Expense), Net Non-Operating	-	-	-	-	-
Gain (Loss) on Sale of Assets	-	-	-	-	-
Other, Net	46.00	1.00	-3.00	-2.00	170.00
Income Before Tax	94.00	125.00	33.00	368.00	159.00
Income After Tax	59.00	79.00	16.00	228.00	98.00
Minority Interest	-	-	-	-	-
Equity In Affiliates	-	-	-	-	-
Net Income Before Extra. Items	59.00	79.00	16.00	228.00	98.00
Accounting Change	-	-	-	-	-
Discontinued Operations	-	-	-	-	-
Extraordinary Item	-	-	-	-	-
Net Income	59.00	79.00	16.00	228.00	98.00
Preferred Dividends	-	-	-	-	-
Income Available to Common Excl. Extra Items	59.00	81.00	16.00	229.00	98.00
Income Available to Common Incl. Extra Items	59.00	81.00	16.00	229.00	98.00
Basic Weighted Average Shares	-	-	-	-	-
Basic EPS Excluding Extraordinary Items	-	-	-	-	-
Basic EPS Including Extraordinary Items	-	-	-	-	-
Dilution Adjustment	-0.84	-	-	-	-
Diluted Weighted Average Shares	727.00	752.00	740.00	764.00	772.00
Diluted EPS Excluding Extraordinary Items	0.08	0.11	0.02	0.30	0.13
Diluted EPS Including Extraordinary Items	-	-	-	-	-
Dividends per Share - Common Stock Primary Issue	0.01	0.01	0.01	0.01	0.00
Gross Dividends - Common Stock	-	-	-	-	-
Net Income after Stock Based Comp. Expense	-	-	-	-	-
Basic EPS after Stock Based Comp. Expense	-	-	-	-	-
Diluted EPS after Stock Based Comp. Expense	-	-	-	-	-
Depreciation, Supplemental	-	-	-	-	-
Total Special Items	-	-	-	-	-
Normalized Income Before Taxes	-	-	-	-	-
Effect of Special Items on Income Taxes	-	-	-	-	-
Income Taxes Ex. Impact of Special Items	-	-	-	-	-
Normalized Income After Taxes	-	-	-	-	-
Normalized Income Avail to Common	-	-	-	-	-
Basic Normalized EPS	-	-	-	-	-
Diluted Normalized EPS	0.09	0.12	0.12	0.31	0.14

In Millions of USD (except for per share items)	12 months ending 2012-12-31	12 months ending 2011-12-31	12 months ending 2010-12-31	12 months ending 2009-12-31
Revenue	16,253.00	14,893.00	11,614.00	10,010.00
Other Revenue, Total	835.00	765.00	490.00	340.00
Total Revenue	17,088.00	15,658.00	12,104.00	10,350.00
Cost of Revenue, Total	13,399.00	12,237.00	9,062.00	8,135.00
Gross Profit	2,854.00	2,656.00	2,552.00	1,875.00
Selling/General/Admin. Expenses, Total	-	-	-	-
Research & Development	-	-	-	-
Depreciation/Amortization	844.00	715.00	628.00	616.00
Interest Expense(Income) - Net Operating	-	-	-	-
Unusual Expense (Income)	183.00	134.00	8.00	0.00
Other Operating Expenses, Total	2,039.00	1,879.00	1,418.00	1,337.00
Total Operating Expense	16,465.00	14,965.00	11,116.00	10,088.00
Operating Income	623.00	693.00	988.00	262.00
Interest Income(Expense), Net Non-Operating	-	-	-	-
Gain (Loss) on Sale of Assets	-	-	-	-
Other, Net	-40.00	-109.00	-106.00	54.00
Income Before Tax	685.00	323.00	745.00	164.00
Income After Tax	421.00	178.00	459.00	99.00
Minority Interest	-	-	-	-
Equity In Affiliates	-	-	-	-
Net Income Before Extra. Items	421.00	178.00	459.00	99.00
Accounting Change	-	-	-	-
Discontinued Operations	-	-	-	-
Extraordinary Item	-	-	-	-
Net Income	421.00	178.00	459.00	99.00
Preferred Dividends	-	-	-	-
Income Available to Common Excl. Extra Items	424.00	178.00	459.00	99.00
Income Available to Common Incl. Extra Items	424.00	178.00	459.00	99.00
Basic Weighted Average Shares	-	-	-	-
Basic EPS Excluding Extraordinary Items	-	-	-	-
Basic EPS Including Extraordinary Items	-	-	-	-
Dilution Adjustment	-	-	-	-
Diluted Weighted Average Shares	757.00	775.00	747.00	741.00
Diluted EPS Excluding Extraordinary Items	0.56	0.23	0.61	0.13
Diluted EPS Including Extraordinary Items	-	-	-	-
Dividends per Share - Common Stock Primary Issue	0.03	0.02	0.02	0.02
Gross Dividends - Common Stock	-	-	-	-
Net Income after Stock Based Comp. Expense	-	-	-	-
Basic EPS after Stock Based Comp. Expense	-	-	-	-
Diluted EPS after Stock Based Comp. Expense	-	-	-	-
Depreciation, Supplemental	-	-	-	-
Total Special Items	-	-	-	-
Normalized Income Before Taxes	-	-	-	-
Effect of Special Items on Income Taxes	-	-	-	-
Income Taxes Ex. Impact of Special Items	-	-	-	-
Normalized Income After Taxes	-	-	-	-
Normalized Income Avail to Common	-	-	-	-
Basic Normalized EPS	-	-	-	-
Diluted Normalized EPS	0.71	0.33	0.62	0.19

In Millions of USD (except for per share items)	As of 2013-03-31	As of 2012-12-31	As of 2012-09-30	As of 2012-06-30	As of 2012-03-31
Cash & Equivalents	1,338.00	1,113.00	1,168.00	1,083.00	1,558.00
Short Term Investments	1,797.00	1,857.00	2,067.00	2,173.00	2,226.00
Cash and Short Term Investments	3,135.00	2,970.00	3,235.00	3,256.00	3,784.00
Accounts Receivable - Trade, Net	429.00	332.00	430.00	502.00	367.00
Receivables - Other	-	-	-	-	-
Total Receivables, Net	429.00	332.00	430.00	502.00	367.00
Total Inventory	480.00	469.00	544.00	446.00	432.00
Prepaid Expenses	215.00	210.00	224.00	203.00	318.00
Other Current Assets, Total	255.00	246.00	219.00	284.00	219.00
Total Current Assets	4,514.00	4,227.00	4,652.00	4,691.00	5,120.00
Property/Plant/Equipment, Total - Gross	19,991.00	19,497.00	19,294.00	18,942.00	18,551.00
Accumulated Depreciation, Total	-6,861.00	-6,731.00	-6,722.00	-6,600.00	-6,456.00
Goodwill, Net	970.00	970.00	970.00	970.00	970.00
Intangibles, Net	132.00	138.00	144.00	151.00	147.00
Long Term Investments	43.00	41.00	42.00	59.00	73.00
Other Long Term Assets, Total	354.00	400.00	433.00	303.00	421.00
Total Assets	19,197.00	18,596.00	18,813.00	18,516.00	18,826.00
Accounts Payable	1,250.00	1,107.00	1,140.00	1,153.00	1,208.00
Accrued Expenses	860.00	917.00	836.00	931.00	879.00
Notes Payable/Short Term Debt	0.00	0.00	0.00	0.00	0.00
Current Port. of LT Debt/Capital Leases	280.00	271.00	265.00	257.00	259.00
Other Current liabilities, Total	3,021.00	2,355.00	2,728.00	2,739.00	2,701.00
Total Current Liabilities	5,411.00	4,650.00	4,969.00	5,080.00	5,047.00
Long Term Debt	2,708.00	2,883.00	2,961.00	3,019.00	3,048.00
Capital Lease Obligations	349.00	376.00	-	-	-
Total Long Term Debt	3,057.00	3,259.00	2,961.00	3,019.00	3,048.00
Total Debt	3,337.00	3,530.00	3,226.00	3,276.00	3,307.00
Deferred Income Tax	2,904.00	2,884.00	2,701.00	2,563.00	2,638.00
Minority Interest	-	-	-	-	-
Other Liabilities, Total	864.00	811.00	1,180.00	1,014.00	996.00
Total Liabilities	12,236.00	11,604.00	11,811.00	11,676.00	11,729.00
Redeemable Preferred Stock, Total	-	-	-	-	-
Preferred Stock - Non Redeemable, Net	-	-	-	-	-
Common Stock, Total	808.00	808.00	808.00	808.00	808.00
Additional Paid-In Capital	1,214.00	1,210.00	1,228.00	1,224.00	1,225.00
Retained Earnings (Accumulated Deficit)	5,818.00	5,768.00	5,700.00	5,692.00	5,486.00
Treasury Stock - Common	-768.00	-675.00	-609.00	-564.00	-365.00
Other Equity, Total	-111.00	-119.00	-125.00	-320.00	-57.00
Total Equity	6,961.00	6,992.00	7,002.00	6,840.00	7,097.00
Total Liabilities & Shareholders' Equity	19,197.00	18,596.00	18,813.00	18,516.00	18,826.00
Shares Outs - Common Stock Primary Issue	-	-	-	-	-
Total Common Shares Outstanding	730.32	730.32	737.98	743.07	767.68

In Millions of USD (except for per share items)	As of 2012-12-31	As of 2011-12-31	As of 2010-12-31	As of 2009-12-31
Cash & Equivalents	1,113.00	829.00	1,261.00	1,114.00
Short Term Investments	1,857.00	2,315.00	2,277.00	1,479.00
Cash and Short Term Investments	2,970.00	3,144.00	3,538.00	2,593.00
Accounts Receivable - Trade, Net	332.00	299.00	195.00	169.00
Receivables - Other	-	-	-	-
Total Receivables, Net	332.00	299.00	195.00	169.00
Total Inventory	469.00	401.00	243.00	221.00
Prepaid Expenses	210.00	238.00	89.00	84.00
Other Current Assets, Total	246.00	263.00	214.00	291.00
Total Current Assets	4,227.00	4,345.00	4,279.00	3,358.00
Property/Plant/Equipment, Total - Gross	19,497.00	18,421.00	16,343.00	15,888.00
Accumulated Depreciation, Total	-6,731.00	-6,294.00	-5,765.00	-5,254.00
Goodwill, Net	970.00	970.00	0.00	-
Intangibles, Net	138.00	155.00	60.00	-
Long Term Investments	41.00	97.00	97.00	-
Other Long Term Assets, Total	454.00	374.00	449.00	277.00
Total Assets	18,596.00	18,068.00	15,463.00	14,269.00
Accounts Payable	1,107.00	1,057.00	739.00	732.00
Accrued Expenses	917.00	801.00	613.00	619.00
Notes Payable/Short Term Debt	0.00	0.00	0.00	0.00
Current Port. of LT Debt/Capital Leases	271.00	644.00	505.00	190.00
Other Current liabilities, Total	2,355.00	2,031.00	1,448.00	1,154.00
Total Current Liabilities	4,650.00	4,533.00	3,305.00	2,695.00
Long Term Debt	2,883.00	3,107.00	2,875.00	3,325.00
Capital Lease Obligations	-	-	-	-
Total Long Term Debt	2,883.00	3,107.00	2,875.00	3,325.00
Total Debt	3,154.00	3,751.00	3,380.00	3,515.00
Deferred Income Tax	2,884.00	2,566.00	2,493.00	2,200.00
Minority Interest	-	-	-	-
Other Liabilities, Total	1,187.00	985.00	553.00	595.00
Total Liabilities	11,604.00	11,191.00	9,226.00	8,815.00
Redeemable Preferred Stock, Total	-	-	-	-
Preferred Stock - Non Redeemable, Net	-	-	-	-
Common Stock, Total	808.00	808.00	808.00	808.00
Additional Paid-In Capital	1,210.00	1,222.00	1,183.00	1,216.00
Retained Earnings (Accumulated Deficit)	5,768.00	5,395.00	5,399.00	4,971.00
Treasury Stock - Common	-675.00	-324.00	-891.00	-963.00
Other Equity, Total	-119.00	-224.00	-262.00	-578.00
Total Equity	6,992.00	6,877.00	6,237.00	5,454.00
Total Liabilities & Shareholders' Equity	18,596.00	18,068.00	15,463.00	14,269.00
Shares Outs - Common Stock Primary Issue	-	-	-	-
Total Common Shares Outstanding	730.32	772.56	747.43	742.79

In Millions of USD (except for per share items)	3 months ending 2013-03-31	12 months ending 2012-12-31	9 months ending 2012-09-30	6 months ending 2012-06-30	3 months ending 2012-03-31
Net Income/Starting Line	59.00	421.00	343.00	327.00	98.00
Depreciation/Depletion	210.00	844.00	620.00	403.00	201.00
Amortization	-	-	-	-	-
Deferred Taxes	2.00	251.00	120.00	38.00	14.00
Non-Cash Items	-24.00	-201.00	-163.00	-144.00	-204.00
Changes in Working Capital	736.00	749.00	913.00	746.00	1,116.00
Cash from Operating Activities	983.00	2,064.00	1,833.00	1,370.00	1,225.00
Capital Expenditures	-534.00	-1,348.00	-949.00	-543.00	-127.00
Other Investing Cash Flow Items, Total	62.00	515.00	305.00	175.00	115.00
Cash from Investing Activities	-472.00	-833.00	-644.00	-368.00	-12.00
Financing Cash Flow Items	-13.00	26.00	-8.00	-7.00	-1.00
Total Cash Dividends Paid	-15.00	-22.00	-22.00	-14.00	-7.00
Issuance (Retirement) of Stock, Net	-94.00	-373.00	-303.00	-258.00	-45.00
Issuance (Retirement) of Debt, Net	-164.00	-578.00	-517.00	-469.00	-431.00
Cash from Financing Activities	-286.00	-947.00	-850.00	-748.00	-484.00
Foreign Exchange Effects	-	-	-	-	-
Net Change in Cash	225.00	284.00	339.00	254.00	729.00
Cash Interest Paid, Supplemental	41.00	153.00	119.00	80.00	47.00
Cash Taxes Paid, Supplemental	2.00	100.00	97.00	95.00	1.00

In Millions of USD (except for per share items)	12 months ending 2012-12-31	12 months ending 2011-12-31	12 months ending 2010-12-31	12 months ending 2009-12-31
Net Income/Starting Line	421.00	178.00	459.00	99.00
Depreciation/Depletion	844.00	715.00	628.00	616.00
Amortization	-	-	-	-
Deferred Taxes	251.00	123.00	133.00	72.00
Non-Cash Items	-201.00	77.00	125.00	14.00
Changes in Working Capital	749.00	263.00	216.00	184.00
Cash from Operating Activities	2,064.00	1,356.00	1,561.00	985.00
Capital Expenditures	-1,348.00	-968.00	-493.00	-585.00
Other Investing Cash Flow Items, Total	515.00	-54.00	-772.00	-984.00
Cash from Investing Activities	-833.00	-1,022.00	-1,265.00	-1,569.00
Financing Cash Flow Items	26.00	74.00	8.00	368.00
Total Cash Dividends Paid	-22.00	-14.00	-13.00	-13.00
Issuance (Retirement) of Stock, Net	-373.00	-205.00	55.00	20.00
Issuance (Retirement) of Debt, Net	-578.00	-621.00	-199.00	-45.00
Cash from Financing Activities	-947.00	-766.00	-149.00	330.00
Foreign Exchange Effects	-	-	-	-
Net Change in Cash	284.00	-432.00	147.00	-254.00
Cash Interest Paid, Supplemental	153.00	185.00	135.00	152.00
Cash Taxes Paid, Supplemental	100.00	13.00	274.00	5.00