SOUTHWEST AIRLINES CO

10-K & 10-Q Filings

Southwest Airlines Co. is a major passenger airline that provides scheduled air transportation in the United States and near-international markets. The company, which began operations in 1971, has a unique route network, low fares, and a famous Hospitality. Southwest operates a single aircraft type, the Boeing 737, and focuses on cost discipline and fuel efficiency. The company's route structure includes service to many secondary airports, which allows for high asset utilization and reduced labor and gate facility requirements. Southwest's focus on cost control and low fares has made it an attractive choice for customers. The company's website is southwest.com, and its ticker symbol is LUV.

12 mos ending Dec 31, 201112 mos ending Dec 31, 201212 mos ending Dec 31, 201312 mos ending Dec 31, 201412 mos ending Dec 31, 201512 mos ending Dec 31, 201612 mos ending Dec 31, 201712 mos ending Dec 31, 201812 mos ending Dec 31, 201912 mos ending Dec 31, 202012 mos ending Dec 31, 202112 mos ending Dec 31, 202212 mos ending Dec 31, 20233 mos ending Mar 31, 20233 mos ending Mar 31, 2024CAGR %YoY %Revenue (+)
$15658.00
17088.00
17699.00
18605.00
19820.00
20425.00
21171.00
21965.00
22428.00
9048.00
15790.00
23814.00
26091.00
5706.00
6329.00
4.35%10.92%Cost of Revenue (-)
$5644.00
6120.00
5763.00
5293.00
3616.00
3647.00
3940.00
4616.00
4347.00
1849.00
3310.00
5975.00
6217.00
1547.00
1531.00
0.81%-1.03%Gross Profit (+)
$10014.00
10968.00
11936.00
13312.00
16204.00
16778.00
17231.00
17349.00
18081.00
7199.00
12480.00
17839.00
19874.00
4159.00
4798.00
5.88%15.36%Selling, General & Administrative (-)
$4371.00
4749.00
5035.00
5434.00
6383.00
6798.00
7319.00
7649.00
8293.00
6811.00
7743.00
9376.00
11152.00
2478.00
2940.00
8.12%18.64%Depreciation & Amortization (-)
$715.00
844.00
867.00
938.00
1015.00
1221.00
1218.00
1201.00
1219.00
1255.00
1272.00
1351.00
1522.00
365.00
408.00
6.50%11.78%Operating Expenses (-)
$14965.00
16465.00
16421.00
16380.00
15704.00
16665.00
17656.00
18759.00
19471.00
11015.00
14069.00
22797.00
25867.00
5990.00
6722.00
4.67%12.22%Costs & Expenses (Total) (-)
$20609.00
22585.00
22184.00
21673.00
19320.00
20312.00
21596.00
23375.00
23818.00
12864.00
17379.00
28772.00
32084.00
7537.00
8253.00
3.76%9.50%Operating Income/Loss (+)
$693.00
623.00
1278.00
2225.00
4116.00
3760.00
3515.00
3206.00
2957.00
-3816.00
1721.00
1017.00
224.00
-284.00
-393.00
-8.98%-38.38%Non-operating Income/Expense (+)
$-370.00
62.00
-69.00
-409.00
-637.00
-213.00
-264.00
-42.00
-440.00
-396.00
-289.00
409.00
79.00
95.00
20.25%Interest Expense (-)
$194.00
147.00
131.00
130.00
121.00
122.00
114.00
131.00
118.00
Earnings before Tax (+)
$323.00
685.00
1209.00
1816.00
3479.00
3547.00
3251.00
3164.00
2957.00
-4256.00
1325.00
728.00
633.00
-205.00
-298.00
5.77%-45.37%Tax Expense (-)
$145.00
264.00
455.00
680.00
1298.00
1303.00
-237.00
699.00
657.00
-1182.00
348.00
189.00
168.00
-46.00
-67.00
1.23%-45.65%Income/Loss (Continuing Operations) (+)
$178.00
421.00
754.00
1136.00
2181.00
2244.00
3488.00
2465.00
2300.00
-3074.00
977.00
539.00
465.00
-159.00
-231.00
8.33%-45.28%Net Income/Loss (+)
$178.00
421.00
754.00
1136.00
2181.00
2244.00
3488.00
2465.00
2300.00
-3074.00
977.00
539.00
465.00
-159.00
-231.00
8.33%-45.28%Net Income/Loss (Common) (+)
$178.00
421.00
754.00
1136.00
2181.00
2244.00
3488.00
2465.00
2300.00
-3074.00
977.00
539.00
465.00
-159.00
-231.00
8.33%-45.28%EPS (Basic)
$0.23
0.56
1.06
1.65
3.30
3.58
5.80
4.28
-5.44
1.65
0.91
0.78
-0.27
-0.39
10.71%-44.44%EPS (Diluted)
$0.23
0.56
1.05
1.64
3.27
3.55
5.79
4.27
-5.44
1.61
0.87
0.76
-0.27
-0.39
10.47%-44.44%Weighted Avg Shares (Basic)
772.91
750.00
701.99
675.99
638.07
615.25
587.95
552.69
517.30
590.68
592.34
594.29
596.66
594.00
597.00
-2.13%0.51%Weighted Avg Shares (Diluted)
757.00
594.00
597.00
0.51%Cash
$829.00
1113.00
1355.00
1282.00
1583.00
1680.00
1495.00
1854.00
2548.00
11063.00
12480.00
9492.00
9288.00
8359.00
8367.00
22.31%0.10%Short-term Investments
$2315.00
1857.00
1797.00
1706.00
1468.00
1625.00
1778.00
1835.00
1524.00
2271.00
3024.00
2800.00
2186.00
3315.00
2145.00
-0.48%-35.29%Receivables
$299.00
332.00
419.00
365.00
474.00
546.00
662.00
568.00
1086.00
1130.00
1357.00
1040.00
1154.00
1250.00
1354.00
11.91%8.32%Prepaid Expenses (Current)
$238.00
210.00
250.00
232.00
188.00
310.00
460.00
310.00
287.00
295.00
638.00
686.00
520.00
614.00
603.00
6.73%-1.79%Other Assets (Current)
$664.00
715.00
635.00
819.00
311.00
337.00
420.00
461.00
529.00
414.00
537.00
790.00
807.00
736.00
812.00
1.64%10.33%Assets (Current)
$4345.00
4227.00
4456.00
4404.00
4024.00
4498.00
4815.00
5028.00
5974.00
15173.00
18036.00
14808.00
13955.00
14274.00
13281.00
10.21%-6.96%Property, Plant & Equipment (Net)
$12127.00
12766.00
13389.00
14292.00
15601.00
17044.00
18539.00
19525.00
17025.00
15831.00
14842.00
17342.00
19375.00
18024.00
19561.00
3.98%8.53%Accumulated Depreciation
$6294.00
6731.00
7431.00
8221.00
9084.00
9420.00
9690.00
9731.00
10688.00
11743.00
13878.00
14536.00
4.74%Goodwill & Intangibles
$970.00
970.00
970.00
970.00
970.00
970.00
970.00
970.00
970.00
970.00
970.00
970.00
970.00
970.00
970.00
0.00%0.00%Other Assets
$626.00
633.00
530.00
534.00
717.00
774.00
786.00
720.00
577.00
2472.00
2249.00
2187.00
898.00
1024.00
10.99%14.03%Assets (Non-current)
$13723.00
14369.00
14889.00
15796.00
17288.00
18788.00
20295.00
21215.00
19921.00
19415.00
18284.00
20561.00
22532.00
21272.00
22737.00
4.22%6.89%Assets (Total)
$18068.00
18596.00
19345.00
20200.00
21312.00
23286.00
25110.00
26243.00
25895.00
34588.00
36320.00
35369.00
36487.00
35546.00
36018.00
6.03%1.33%Accounts Payable
$2053.00
1107.00
2476.00
2768.00
3779.00
3163.00
3097.00
3165.00
3323.00
3190.00
2906.00
4047.00
5468.00
3847.00
4349.00
8.51%13.05%Debt (Current)
$644.00
271.00
629.00
258.00
637.00
566.00
348.00
606.00
1172.00
220.00
453.00
42.00
29.00
32.00
28.00
-22.77%-12.50%Other Liabilities (Current)
$1836.00
3272.00
2571.00
2897.00
2990.00
3115.00
3460.00
4134.00
4457.00
4096.00
5805.00
6289.00
6759.00
7450.00
7848.00
11.47%5.34%Liabilities (Current)
$4533.00
4650.00
5676.00
5923.00
7406.00
6844.00
6905.00
7905.00
8952.00
7506.00
9164.00
10378.00
12256.00
11329.00
12225.00
8.64%7.91%Debt (Non-current)
$3107.00
2883.00
2191.00
2434.00
2541.00
2821.00
3320.00
2771.00
2824.00
10111.00
10274.00
8046.00
7978.00
7999.00
7974.00
8.18%-0.31%Other Liabilities
$3551.00
4071.00
4142.00
5068.00
4007.00
5180.00
4455.00
5714.00
4287.00
8095.00
6468.00
6258.00
5738.00
5916.00
5623.00
4.08%-4.95%Liabilities (Non-current)
$6658.00
6954.00
6333.00
7502.00
6548.00
8001.00
7775.00
8485.00
7111.00
18206.00
16742.00
14304.00
13716.00
13915.00
13597.00
6.21%-2.29%Liabilities (Total)
$11191.00
11604.00
12009.00
13425.00
13954.00
14845.00
14680.00
16390.00
16063.00
25712.00
25906.00
24682.00
25972.00
25244.00
25822.00
7.27%2.29%Treasury Stock
$324.00
675.00
1131.00
2026.00
3182.00
4872.00
6462.00
8452.00
10441.00
10875.00
10860.00
10843.00
10823.00
10836.00
10808.00
33.96%-0.26%Retained Earnings
$5395.00
5768.00
6431.00
7416.00
9409.00
11418.00
14621.00
15967.00
17945.00
14777.00
15774.00
16261.00
16297.00
15995.00
15959.00
9.65%-0.23%AOCI
$-224.00
-119.00
-3.00
-738.00
-1051.00
-323.00
12.00
20.00
-61.00
-105.00
388.00
344.00
197.00
19.00
-90.36%Shareholder's Equity
$6877.00
6992.00
7336.00
6775.00
7358.00
8441.00
10430.00
9853.00
9832.00
8876.00
10414.00
10687.00
10515.00
10302.00
10196.00
3.60%-1.03%Liabilities & Equity
$18068.00
18596.00
19345.00
20200.00
21312.00
23286.00
25110.00
26243.00
25895.00
34588.00
36320.00
35369.00
36487.00
35546.00
36018.00
6.03%1.33%Net Income/Loss
$178.00
421.00
754.00
1136.00
2181.00
2244.00
3488.00
2465.00
2300.00
-3074.00
977.00
539.00
465.00
-159.00
-231.00
8.33%-45.28%Depreciation & Amortization
$715.00
844.00
867.00
938.00
1015.00
1221.00
1218.00
1201.00
1219.00
1255.00
1272.00
1351.00
1522.00
365.00
408.00
6.50%11.78%Increase/Decrease in Working Capital
$-292.00
-749.00
-737.00
-826.00
-391.00
-1172.00
669.00
-1227.00
-576.00
-962.00
-20.00
-1642.00
-1352.00
-564.00
243.00
143.09%Adjustments to Reconcile Net Income
$1207.00
1643.00
1723.00
1766.00
1057.00
2049.00
441.00
2456.00
1687.00
1947.00
1345.00
3251.00
2699.00
865.00
127.00
6.94%-85.32%Net Cash (Operating)
$1385.00
2064.00
2477.00
2902.00
3238.00
4293.00
3929.00
4893.00
3987.00
-1127.00
2322.00
3790.00
3164.00
706.00
-104.00
7.13%-114.73%Capital Expenditure
$1003.00
1348.00
1447.00
1828.00
2143.00
2147.00
2249.00
1976.00
1027.00
515.00
511.00
3946.00
3553.00
1052.00
592.00
11.12%-43.73%Net Cash (Investing)
$-1051.00
-833.00
-1384.00
-1727.00
-1913.00
-2272.00
-2408.00
-2038.00
-303.00
-16.00
-1264.00
-3746.00
-2932.00
-1577.00
-585.00
62.90%Increase/Decrease in Debt
$-638.00
-578.00
-313.00
-261.00
287.00
-76.00
8.00
-342.00
-615.00
10766.00
-293.00
-648.00
Increase/Decrease in Equity
$-186.00
-373.00
-444.00
-845.00
-1134.00
-1721.00
-1571.00
-1965.00
-1960.00
1891.00
51.00
45.00
48.00
9.00
15.00
66.67%Interest Expenses
$185.00
153.00
133.00
128.00
105.00
100.00
81.00
107.00
88.00
212.00
336.00
305.00
228.00
19.00
18.00
1.76%-5.26%Dividends Paid
$14.00
22.00
71.00
139.00
180.00
222.00
274.00
332.00
372.00
188.00
428.00
214.00
215.00
32.98%0.47%Net Cash (Financing)
$-766.00
-947.00
-851.00
-1248.00
-1024.00
-1924.00
-1706.00
-2496.00
-2990.00
9658.00
359.00
-3032.00
-436.00
-262.00
-232.00
11.45%Cash Taxes Paid
$13.00
100.00
346.00
155.00
1440.00
902.00
992.00
327.00
779.00
19.00
445.00
20.00
18.00
2.00
3.00
2.75%50.00%Increase/Decrease in Cash
$-432.00
284.00
242.00
-73.00
301.00
97.00
-185.00
359.00
694.00
8515.00
1417.00
-2988.00
-204.00
-1133.00
-921.00
18.71%Cash (Beginning)
$1261.00
829.00
1113.00
1355.00
1282.00
1583.00
1680.00
1495.00
1854.00
2548.00
11063.00
12480.00
9492.00
9492.00
9288.00
18.32%-2.15%Cash (Ending)
$829.00
1113.00
1355.00
1282.00
1583.00
1680.00
1495.00
1854.00
2548.00
11063.00
12480.00
9492.00
9288.00
8359.00
8367.00
22.31%0.10%NOPAT
$665.11
532.05
912.25
2035.09
2412.34
2803.83
3771.25
2874.66
2178.00
-4875.80
1143.00
989.06
217.63
-347.73
-481.36
-8.89%-38.43%Gross Margin %
63.95%
64.19%
67.44%
71.55%
81.76%
82.14%
81.39%
78.98%
80.62%
79.56%
79.04%
74.91%
76.17%
72.89%
75.81%
Operating Margin %
4.43%
3.65%
7.22%
11.96%
20.77%
18.41%
16.60%
14.60%
13.18%
-42.18%
10.90%
4.27%
0.86%
-4.98%
-6.21%
NOPAT Margin %
4.25%
3.11%
5.15%
10.94%
12.17%
13.73%
17.81%
13.09%
9.71%
-53.89%
7.24%
4.15%
0.83%
-6.09%
-7.61%
Net Margin %
1.14%
2.46%
4.26%
6.11%
11.00%
10.99%
16.48%
11.22%
10.26%
-33.97%
6.19%
2.26%
1.78%
-2.79%
-3.65%
Tax Rate %
4.02%
14.60%
28.62%
8.54%
41.39%
25.43%
-7.29%
10.34%
26.34%
-27.77%
33.58%
2.75%
2.84%
-22.44%
-22.48%
ROA
3.68%
2.86%
4.72%
10.07%
11.32%
12.04%
15.02%
10.95%
8.41%
-14.10%
3.15%
2.80%
0.60%
-0.98%
-1.34%
ROE
9.67%
7.61%
12.44%
30.04%
32.79%
33.22%
36.16%
29.18%
22.15%
-54.93%
10.98%
9.25%
2.07%
-3.38%
-4.72%
ROIC
5.79%
4.21%
7.23%
15.75%
17.81%
17.71%
21.80%
15.97%
13.56%
-35.10%
8.42%
6.50%
1.38%
-2.51%
-3.24%
Asset Turnover
0.87
0.92
0.91
0.92
0.93
0.88
0.84
0.84
0.87
0.26
0.43
0.67
0.72
0.16
0.18
Equity Multiplier
2.63
2.66
2.64
2.98
2.90
2.76
2.41
2.66
2.63
3.90
3.49
3.31
3.47
3.45
3.53
Current Ratio
0.96
0.91
0.79
0.74
0.54
0.66
0.70
0.64
0.67
2.02
1.97
1.43
1.14
1.26
1.09
Quick Ratio
0.76
0.71
0.63
0.57
0.48
0.56
0.57
0.54
0.58
1.93
1.84
1.28
1.03
1.14
0.97
Debt/Equity Ratio
0.55
0.45
0.38
0.40
0.43
0.40
0.35
0.34
0.41
1.16
1.03
0.76
0.76
0.78
0.78
Interest Coverage Ratio
3.75
4.07
9.61
17.38
39.20
37.60
43.40
29.96
33.60
-18.00
5.12
3.33
0.98
-14.95
-21.83
Working Capital/Sales
-0.10
-0.06
-0.10
-0.13
-0.15
-0.11
-0.10
-0.11
-0.09
-0.32
-0.14
-0.13
-0.17
-0.90
-0.90
Dividend Payout Ratio %
2.10%
4.13%
7.78%
6.83%
7.46%
7.92%
7.27%
11.55%
17.08%
3.86%
196.66%
61.54%
44.67%
Total Payout
$1023.00
1126.00
961.00
1373.00
1132.00
2119.00
1918.00
2746.00
3035.00
-12257.00
578.00
908.00
608.00
224.00
218.00
-4.24%-2.68%Payout Ratio %
153.81%
211.63%
105.34%
67.47%
46.93%
75.58%
50.86%
95.52%
139.35%
-251.38%
50.57%
91.80%
279.37%
64.42%
45.29%