10-Q Filing
Filing Information
| Form Type | 10-Q |
| Accession Number | 0000092380-15-000042 |
| Period End Date | 20150331 |
| Filing Date | 20150430 |
| Fiscal Year | 2015 |
| Fiscal Period | Q1 |
| XBRL Instance | luv-20150331.xml |
Filing Contents
This filing contains the following financial statements:
Balance Sheet
68 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$2.02B | USD | Point-in-time |
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$1.74B | USD | Point-in-time |
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$1.28B | USD | Point-in-time |
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$1.35B | USD | Point-in-time |
| Short-term investments |
ShortTermInvestments
|
$1.71B | USD | Point-in-time |
| Short-term investments |
ShortTermInvestments
|
$1.41B | USD | Point-in-time |
| Accounts and other receivables |
AccountsAndOtherReceivablesNetCurrent
|
$499.00M | USD | Point-in-time |
| Accounts and other receivables |
AccountsAndOtherReceivablesNetCurrent
|
$365.00M | USD | Point-in-time |
| Inventories of parts and supplies, at cost |
AirlineRelatedInventory
|
$342.00M | USD | Point-in-time |
| Inventories of parts and supplies, at cost |
AirlineRelatedInventory
|
$304.00M | USD | Point-in-time |
| Deferred income taxes |
DeferredTaxAssetsNetCurrent
|
$452.00M | USD | Point-in-time |
| Deferred income taxes |
DeferredTaxAssetsNetCurrent
|
$477.00M | USD | Point-in-time |
| Prepaid expenses and other current assets |
PrepaidExpenseAndOtherAssetsCurrent
|
$232.00M | USD | Point-in-time |
| Prepaid expenses and other current assets |
PrepaidExpenseAndOtherAssetsCurrent
|
$270.00M | USD | Point-in-time |
| Total current assets |
AssetsCurrent
|
$4.40B | USD | Point-in-time |
| Total current assets |
AssetsCurrent
|
$4.96B | USD | Point-in-time |
| Flight equipment |
FlightEquipmentGross
|
$18.86B | USD | Point-in-time |
| Flight equipment |
FlightEquipmentGross
|
$18.47B | USD | Point-in-time |
| Ground property and equipment |
PropertyPlantAndEquipmentOther
|
$2.90B | USD | Point-in-time |
| Ground property and equipment |
PropertyPlantAndEquipmentOther
|
$2.85B | USD | Point-in-time |
| Deposits on flight equipment purchase contracts |
DepositsOnFlightEquipment
|
$619.00M | USD | Point-in-time |
| Deposits on flight equipment purchase contracts |
DepositsOnFlightEquipment
|
$566.00M | USD | Point-in-time |
| Assets constructed for others |
AssetsConstructedForOthers
|
$686.00M | USD | Point-in-time |
| Assets constructed for others |
AssetsConstructedForOthers
|
$621.00M | USD | Point-in-time |
| Property and equipment, at cost |
PropertyPlantAndEquipmentGross
|
$22.51B | USD | Point-in-time |
| Property and equipment, at cost |
PropertyPlantAndEquipmentGross
|
$23.06B | USD | Point-in-time |
| Less allowance for depreciation and amortization |
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
$8.22B | USD | Point-in-time |
| Less allowance for depreciation and amortization |
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
$8.46B | USD | Point-in-time |
| Property and equipment, net |
PropertyPlantAndEquipmentNet
|
$14.61B | USD | Point-in-time |
| Property and equipment, net |
PropertyPlantAndEquipmentNet
|
$14.29B | USD | Point-in-time |
| Goodwill |
Goodwill
|
$970.00M | USD | Point-in-time |
| Goodwill |
Goodwill
|
$970.00M | USD | Point-in-time |
| Other assets |
OtherAssetsNoncurrent
|
$623.00M | USD | Point-in-time |
| Other assets |
OtherAssetsNoncurrent
|
$534.00M | USD | Point-in-time |
| Total assets |
Assets
|
$20.20B | USD | Point-in-time |
| Total assets |
Assets
|
$21.16B | USD | Point-in-time |
| Accounts payable |
AccountsPayableCurrent
|
$1.15B | USD | Point-in-time |
| Accounts payable |
AccountsPayableCurrent
|
$1.20B | USD | Point-in-time |
| Accrued liabilities |
AccruedLiabilitiesCurrent
|
$1.87B | USD | Point-in-time |
| Accrued liabilities |
AccruedLiabilitiesCurrent
|
$1.56B | USD | Point-in-time |
| Air traffic liability |
DeferredAirTrafficRevenue
|
$3.61B | USD | Point-in-time |
| Air traffic liability |
DeferredAirTrafficRevenue
|
$2.90B | USD | Point-in-time |
| Current maturities of long-term debt |
LongTermDebtAndCapitalLeaseObligationsCurrent
|
$271.00M | USD | Point-in-time |
| Current maturities of long-term debt |
LongTermDebtAndCapitalLeaseObligationsCurrent
|
$258.00M | USD | Point-in-time |
| Total current liabilities |
LiabilitiesCurrent
|
$5.92B | USD | Point-in-time |
| Total current liabilities |
LiabilitiesCurrent
|
$6.90B | USD | Point-in-time |
| Long-term debt less current maturities |
LongTermDebtAndCapitalLeaseObligations
|
$2.43B | USD | Point-in-time |
| Long-term debt less current maturities |
LongTermDebtAndCapitalLeaseObligations
|
$2.42B | USD | Point-in-time |
| Deferred income taxes |
DeferredTaxLiabilitiesNoncurrent
|
$3.25B | USD | Point-in-time |
| Deferred income taxes |
DeferredTaxLiabilitiesNoncurrent
|
$3.26B | USD | Point-in-time |
| Construction obligation |
ConstructionObligationNoncurrent
|
$554.00M | USD | Point-in-time |
| Construction obligation |
ConstructionObligationNoncurrent
|
$595.00M | USD | Point-in-time |
| Other noncurrent liabilities |
OtherLiabilitiesNoncurrent
|
$1.25B | USD | Point-in-time |
| Other noncurrent liabilities |
OtherLiabilitiesNoncurrent
|
$1.09B | USD | Point-in-time |
| Common stock |
CommonStockValue
|
$808.00M | USD | Point-in-time |
| Common stock |
CommonStockValue
|
$808.00M | USD | Point-in-time |
| Capital in excess of par value |
AdditionalPaidInCapitalCommonStock
|
$1.31B | USD | Point-in-time |
| Capital in excess of par value |
AdditionalPaidInCapitalCommonStock
|
$1.33B | USD | Point-in-time |
| Retained earnings |
RetainedEarningsAccumulatedDeficit
|
$7.83B | USD | Point-in-time |
| Retained earnings |
RetainedEarningsAccumulatedDeficit
|
$7.42B | USD | Point-in-time |
| Accumulated other comprehensive loss |
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
$-742.00M | USD | Point-in-time |
| Accumulated other comprehensive loss |
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
$-738.00M | USD | Point-in-time |
| Treasury stock, at cost |
TreasuryStockValue
|
$2.03B | USD | Point-in-time |
| Treasury stock, at cost |
TreasuryStockValue
|
$2.32B | USD | Point-in-time |
| Total stockholders' equity |
StockholdersEquity
|
$6.90B | USD | Point-in-time |
| Total stockholders' equity |
StockholdersEquity
|
$6.78B | USD | Point-in-time |
| Total liabilities and stockholders' equity |
LiabilitiesAndStockholdersEquity
|
$20.20B | USD | Point-in-time |
| Total liabilities and stockholders' equity |
LiabilitiesAndStockholdersEquity
|
$21.16B | USD | Point-in-time |
Income Statement
56 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Passenger |
PassengerRevenue
|
$4.18B | USD | 1 Quarter |
| Passenger |
PassengerRevenue
|
$3.93B | USD | 1 Quarter |
| Freight |
CargoAndFreightRevenue
|
$40.00M | USD | 1 Quarter |
| Freight |
CargoAndFreightRevenue
|
$44.00M | USD | 1 Quarter |
| Other |
OtherSalesRevenueNet
|
$193.00M | USD | 1 Quarter |
| Other |
OtherSalesRevenueNet
|
$192.00M | USD | 1 Quarter |
| Total operating revenues |
Revenues
|
$4.41B | USD | 1 Quarter |
| Total operating revenues |
Revenues
|
$4.17B | USD | 1 Quarter |
| Salaries, wages, and benefits |
LaborAndRelatedExpense
|
$1.42B | USD | 1 Quarter |
| Salaries, wages, and benefits |
LaborAndRelatedExpense
|
$1.27B | USD | 1 Quarter |
| Fuel and oil |
FuelCosts
|
$1.31B | USD | 1 Quarter |
| Fuel and oil |
FuelCosts
|
$877.00M | USD | 1 Quarter |
| Maintenance materials and repairs |
AircraftMaintenanceMaterialsAndRepairs
|
$250.00M | USD | 1 Quarter |
| Maintenance materials and repairs |
AircraftMaintenanceMaterialsAndRepairs
|
$229.00M | USD | 1 Quarter |
| Aircraft rentals |
AircraftRental
|
$81.00M | USD | 1 Quarter |
| Aircraft rentals |
AircraftRental
|
$60.00M | USD | 1 Quarter |
| Landing fees and other rentals |
LandingFeesAndOtherRentals
|
$266.00M | USD | 1 Quarter |
| Landing fees and other rentals |
LandingFeesAndOtherRentals
|
$285.00M | USD | 1 Quarter |
| Depreciation and amortization |
DepreciationAndAmortization
|
$244.00M | USD | 1 Quarter |
| Depreciation and amortization |
DepreciationAndAmortization
|
$221.00M | USD | 1 Quarter |
| Acquisition and integration |
BusinessCombinationIntegrationRelatedCosts
|
$23.00M | USD | 1 Quarter |
| Acquisition and integration |
BusinessCombinationIntegrationRelatedCosts
|
$18.00M | USD | 1 Quarter |
| Other operating expenses |
OtherCostAndExpenseOperating
|
$526.00M | USD | 1 Quarter |
| Other operating expenses |
OtherCostAndExpenseOperating
|
$497.00M | USD | 1 Quarter |
| Total operating expenses |
OperatingExpenses
|
$3.95B | USD | 1 Quarter |
| Total operating expenses |
OperatingExpenses
|
$3.63B | USD | 1 Quarter |
| OPERATING INCOME |
OperatingIncomeLoss
|
$780.00M | USD | 1 Quarter |
| OPERATING INCOME |
OperatingIncomeLoss
|
$215.00M | USD | 1 Quarter |
| Interest expense |
InterestExpenseDebt
|
$33.00M | USD | 1 Quarter |
| Interest expense |
InterestExpenseDebt
|
$32.00M | USD | 1 Quarter |
| Capitalized interest |
InterestCostsCapitalizedAdjustment
|
$7.00M | USD | 1 Quarter |
| Capitalized interest |
InterestCostsCapitalizedAdjustment
|
$6.00M | USD | 1 Quarter |
| Interest income |
InvestmentIncomeInterest
|
$1.00M | USD | 1 Quarter |
| Interest income |
InvestmentIncomeInterest
|
$2.00M | USD | 1 Quarter |
| Other (gains) losses, net |
OtherNonoperatingIncomeExpense
|
$-32.00M | USD | 1 Quarter |
| Other (gains) losses, net |
OtherNonoperatingIncomeExpense
|
$53.00M | USD | 1 Quarter |
| Total other expenses (income) |
NonoperatingIncomeExpense
|
$-57.00M | USD | 1 Quarter |
| Total other expenses (income) |
NonoperatingIncomeExpense
|
$29.00M | USD | 1 Quarter |
| INCOME BEFORE INCOME TAXES |
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
$244.00M | USD | 1 Quarter |
| INCOME BEFORE INCOME TAXES |
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
$723.00M | USD | 1 Quarter |
| PROVISION FOR INCOME TAXES |
IncomeTaxExpenseBenefit
|
$270.00M | USD | 1 Quarter |
| PROVISION FOR INCOME TAXES |
IncomeTaxExpenseBenefit
|
$92.00M | USD | 1 Quarter |
| NET INCOME |
NetIncomeLoss
|
$453.00M | USD | 1 Quarter |
| NET INCOME |
NetIncomeLoss
|
$152.00M | USD | 1 Quarter |
| NET INCOME PER SHARE, BASIC |
EarningsPerShareBasic
|
$0.22 | USD | 1 Quarter |
| NET INCOME PER SHARE, BASIC |
EarningsPerShareBasic
|
$0.67 | USD | 1 Quarter |
| NET INCOME PER SHARE, DILUTED |
EarningsPerShareDiluted
|
$0.66 | USD | 1 Quarter |
| NET INCOME PER SHARE, DILUTED |
EarningsPerShareDiluted
|
$0.22 | USD | 1 Quarter |
| COMPREHENSIVE INCOME |
ComprehensiveIncomeNetOfTax
|
$449.00M | USD | 1 Quarter |
| COMPREHENSIVE INCOME |
ComprehensiveIncomeNetOfTax
|
$143.00M | USD | 1 Quarter |
| Basic |
WeightedAverageNumberOfSharesOutstandingBasic
|
674.00M | shares | 1 Quarter |
| Basic |
WeightedAverageNumberOfSharesOutstandingBasic
|
698.00M | shares | 1 Quarter |
| Diluted |
WeightedAverageNumberOfDilutedSharesOutstanding
|
682.00M | shares | 1 Quarter |
| Diluted |
WeightedAverageNumberOfDilutedSharesOutstanding
|
707.00M | shares | 1 Quarter |
| Cash dividends declared per common share |
CommonStockDividendsPerShareDeclared
|
$0.04 | USD | 1 Quarter |
| Cash dividends declared per common share |
CommonStockDividendsPerShareDeclared
|
$0.06 | USD | 1 Quarter |
Cash Flow Statement
66 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Net income |
NetIncomeLoss
|
$453.00M | USD | 1 Quarter |
| Net income |
NetIncomeLoss
|
$152.00M | USD | 1 Quarter |
| Depreciation and amortization |
DepreciationAndAmortization
|
$244.00M | USD | 1 Quarter |
| Depreciation and amortization |
DepreciationAndAmortization
|
$221.00M | USD | 1 Quarter |
| Unrealized (gain) loss on fuel derivative instruments |
UnrealizedGainLossOnDerivativesAndCommodityContracts
|
$60.00M | USD | 1 Quarter |
| Unrealized (gain) loss on fuel derivative instruments |
UnrealizedGainLossOnDerivativesAndCommodityContracts
|
$-11.00M | USD | 1 Quarter |
| Deferred income taxes |
DeferredIncomeTaxExpenseBenefit
|
$92.00M | USD | 1 Quarter |
| Deferred income taxes |
DeferredIncomeTaxExpenseBenefit
|
$19.00M | USD | 1 Quarter |
| Accounts and other receivables |
IncreaseDecreaseInAccountsAndOtherReceivables
|
$72.00M | USD | 1 Quarter |
| Accounts and other receivables |
IncreaseDecreaseInAccountsAndOtherReceivables
|
$130.00M | USD | 1 Quarter |
| Other assets |
IncreaseDecreaseInOtherOperatingAssets
|
$-13.00M | USD | 1 Quarter |
| Other assets |
IncreaseDecreaseInOtherOperatingAssets
|
$-7.00M | USD | 1 Quarter |
| Accounts payable and accrued liabilities |
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
$177.00M | USD | 1 Quarter |
| Accounts payable and accrued liabilities |
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
$24.00M | USD | 1 Quarter |
| Air traffic liability |
IncreaseDecreaseInDeferredAirTrafficRevenue
|
$717.00M | USD | 1 Quarter |
| Air traffic liability |
IncreaseDecreaseInDeferredAirTrafficRevenue
|
$761.00M | USD | 1 Quarter |
| Cash collateral received from (provided to) derivative counterparties |
IncreaseDecreaseCashCollateralFromCounterparties
|
$11.00M | USD | 1 Quarter |
| Cash collateral received from (provided to) derivative counterparties |
IncreaseDecreaseCashCollateralFromCounterparties
|
$-17.00M | USD | 1 Quarter |
| Other, net |
OtherOperatingActivitiesCashFlowStatement
|
$-17.00M | USD | 1 Quarter |
| Other, net |
OtherOperatingActivitiesCashFlowStatement
|
$-35.00M | USD | 1 Quarter |
| Net cash provided by operating activities |
NetCashProvidedByUsedInOperatingActivities
|
$1.45B | USD | 1 Quarter |
| Net cash provided by operating activities |
NetCashProvidedByUsedInOperatingActivities
|
$1.12B | USD | 1 Quarter |
| Capital expenditures |
PaymentsToAcquireProductiveAssets
|
$573.00M | USD | 1 Quarter |
| Capital expenditures |
PaymentsToAcquireProductiveAssets
|
$395.00M | USD | 1 Quarter |
| Assets constructed for others |
PaymentsForConstructionInProcess
|
$12.00M | USD | 1 Quarter |
| Assets constructed for others |
PaymentsForConstructionInProcess
|
$22.00M | USD | 1 Quarter |
| Purchases of short-term investments |
PaymentsToAcquireShortTermInvestments
|
$316.00M | USD | 1 Quarter |
| Purchases of short-term investments |
PaymentsToAcquireShortTermInvestments
|
$770.00M | USD | 1 Quarter |
| Proceeds from sales of short-term and other investments |
ProceedsFromSaleOfShortTermAndOtherInvestments
|
$609.00M | USD | 1 Quarter |
| Proceeds from sales of short-term and other investments |
ProceedsFromSaleOfShortTermAndOtherInvestments
|
$819.00M | USD | 1 Quarter |
| Net cash used in investing activities |
NetCashProvidedByUsedInInvestingActivities
|
$-358.00M | USD | 1 Quarter |
| Net cash used in investing activities |
NetCashProvidedByUsedInInvestingActivities
|
$-302.00M | USD | 1 Quarter |
| Proceeds from Employee stock plans |
ProceedsFromStockPlans
|
$13.00M | USD | 1 Quarter |
| Proceeds from Employee stock plans |
ProceedsFromStockPlans
|
$49.00M | USD | 1 Quarter |
| Proceeds from termination of interest rate derivative instruments |
ProceedsFromTerminationOfInterestRateDerivatives
|
$12.00M | USD | 1 Quarter |
| Proceeds from termination of interest rate derivative instruments |
ProceedsFromTerminationOfInterestRateDerivatives
|
- | USD | 1 Quarter |
| Reimbursement for assets constructed for others |
Reimbursementforairportconstruction
|
$2.00M | USD | 1 Quarter |
| Reimbursement for assets constructed for others |
Reimbursementforairportconstruction
|
- | USD | 1 Quarter |
| Payments of long-term debt and capital lease obligations |
RepaymentsOfLongTermDebtAndCapitalSecurities
|
$46.00M | USD | 1 Quarter |
| Payments of long-term debt and capital lease obligations |
RepaymentsOfLongTermDebtAndCapitalSecurities
|
$51.00M | USD | 1 Quarter |
| Payments of cash dividends |
PaymentsOfDividendsCommonStock
|
$81.00M | USD | 1 Quarter |
| Payments of cash dividends |
PaymentsOfDividendsCommonStock
|
$56.00M | USD | 1 Quarter |
| Repayment of construction obligation |
RepaymentsOfConstructionObligation
|
$2.00M | USD | 1 Quarter |
| Repayment of construction obligation |
RepaymentsOfConstructionObligation
|
$3.00M | USD | 1 Quarter |
| Repurchase of common stock |
PaymentsForRepurchaseOfCommonStock
|
$300.00M | USD | 1 Quarter |
| Repurchase of common stock |
PaymentsForRepurchaseOfCommonStock
|
$315.00M | USD | 1 Quarter |
| Other, net |
ProceedsFromPaymentsForOtherFinancingActivities
|
$-4.00M | USD | 1 Quarter |
| Other, net |
ProceedsFromPaymentsForOtherFinancingActivities
|
- | USD | 1 Quarter |
| Net cash used in financing activities |
NetCashProvidedByUsedInFinancingActivities
|
$-375.00M | USD | 1 Quarter |
| Net cash used in financing activities |
NetCashProvidedByUsedInFinancingActivities
|
$-407.00M | USD | 1 Quarter |
| NET CHANGE IN CASH AND CASH EQUIVALENTS |
CashAndCashEquivalentsPeriodIncreaseDecrease
|
$743.00M | USD | 1 Quarter |
| NET CHANGE IN CASH AND CASH EQUIVALENTS |
CashAndCashEquivalentsPeriodIncreaseDecrease
|
$386.00M | USD | 1 Quarter |
| CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD |
CashAndCashEquivalentsAtCarryingValue
|
$2.02B | USD | Point-in-time |
| CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD |
CashAndCashEquivalentsAtCarryingValue
|
$1.74B | USD | Point-in-time |
| CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD |
CashAndCashEquivalentsAtCarryingValue
|
$1.28B | USD | Point-in-time |
| CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD |
CashAndCashEquivalentsAtCarryingValue
|
$1.35B | USD | Point-in-time |
| CASH AND CASH EQUIVALENTS AT END OF PERIOD |
CashAndCashEquivalentsAtCarryingValue
|
$2.02B | USD | Point-in-time |
| CASH AND CASH EQUIVALENTS AT END OF PERIOD |
CashAndCashEquivalentsAtCarryingValue
|
$1.74B | USD | Point-in-time |
| CASH AND CASH EQUIVALENTS AT END OF PERIOD |
CashAndCashEquivalentsAtCarryingValue
|
$1.28B | USD | Point-in-time |
| CASH AND CASH EQUIVALENTS AT END OF PERIOD |
CashAndCashEquivalentsAtCarryingValue
|
$1.35B | USD | Point-in-time |
| Interest, net of amount capitalized |
InterestPaidNet
|
$32.00M | USD | 1 Quarter |
| Interest, net of amount capitalized |
InterestPaidNet
|
$34.00M | USD | 1 Quarter |
| Income taxes |
IncomeTaxesPaid
|
$111.00M | USD | 1 Quarter |
| Income taxes |
IncomeTaxesPaid
|
- | USD | 1 Quarter |
| Assets constructed for others |
AssetsConstructedforOthersDuringPeriod
|
$13.00M | USD | 1 Quarter |
| Assets constructed for others |
AssetsConstructedforOthersDuringPeriod
|
$43.00M | USD | 1 Quarter |
Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.