10-Q Filing
Filing Information
| Form Type | 10-Q |
| Accession Number | 0000092380-17-000078 |
| Period End Date | 20170331 |
| Filing Date | 20170503 |
| Fiscal Year | 2017 |
| Fiscal Period | Q1 |
| XBRL Instance | luv-20170331.xml |
Filing Contents
This filing contains the following financial statements:
Balance Sheet
66 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$2.39B | USD | Point-in-time |
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$1.85B | USD | Point-in-time |
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$1.68B | USD | Point-in-time |
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$1.58B | USD | Point-in-time |
| Short-term investments |
ShortTermInvestments
|
$1.62B | USD | Point-in-time |
| Short-term investments |
ShortTermInvestments
|
$1.63B | USD | Point-in-time |
| Accounts and other receivables |
AccountsAndOtherReceivablesNetCurrent
|
$546.00M | USD | Point-in-time |
| Accounts and other receivables |
AccountsAndOtherReceivablesNetCurrent
|
$585.00M | USD | Point-in-time |
| Inventories of parts and supplies, at cost |
AirlineRelatedInventory
|
$356.00M | USD | Point-in-time |
| Inventories of parts and supplies, at cost |
AirlineRelatedInventory
|
$337.00M | USD | Point-in-time |
| Prepaid expenses and other current assets |
PrepaidExpenseAndOtherAssetsCurrent
|
$310.00M | USD | Point-in-time |
| Prepaid expenses and other current assets |
PrepaidExpenseAndOtherAssetsCurrent
|
$235.00M | USD | Point-in-time |
| Total current assets |
AssetsCurrent
|
$4.50B | USD | Point-in-time |
| Total current assets |
AssetsCurrent
|
$4.66B | USD | Point-in-time |
| Flight equipment |
FlightEquipmentGross
|
$20.35B | USD | Point-in-time |
| Flight equipment |
FlightEquipmentGross
|
$20.27B | USD | Point-in-time |
| Ground property and equipment |
PropertyPlantAndEquipmentOther
|
$3.78B | USD | Point-in-time |
| Ground property and equipment |
PropertyPlantAndEquipmentOther
|
$3.91B | USD | Point-in-time |
| Deposits on flight equipment purchase contracts |
DepositsOnFlightEquipment
|
$1.19B | USD | Point-in-time |
| Deposits on flight equipment purchase contracts |
DepositsOnFlightEquipment
|
$1.21B | USD | Point-in-time |
| Assets constructed for others |
AssetsConstructedForOthers
|
$1.32B | USD | Point-in-time |
| Assets constructed for others |
AssetsConstructedForOthers
|
$1.22B | USD | Point-in-time |
| Property and equipment, at cost |
PropertyPlantAndEquipmentGross
|
$26.46B | USD | Point-in-time |
| Property and equipment, at cost |
PropertyPlantAndEquipmentGross
|
$26.78B | USD | Point-in-time |
| Less allowance for depreciation and amortization |
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
$9.50B | USD | Point-in-time |
| Less allowance for depreciation and amortization |
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
$9.42B | USD | Point-in-time |
| Property and equipment, net |
PropertyPlantAndEquipmentNet
|
$17.29B | USD | Point-in-time |
| Property and equipment, net |
PropertyPlantAndEquipmentNet
|
$17.04B | USD | Point-in-time |
| Goodwill |
Goodwill
|
$970.00M | USD | Point-in-time |
| Goodwill |
Goodwill
|
$970.00M | USD | Point-in-time |
| Other assets |
OtherAssetsNoncurrent
|
$849.00M | USD | Point-in-time |
| Other assets |
OtherAssetsNoncurrent
|
$774.00M | USD | Point-in-time |
| Total assets |
Assets
|
$23.76B | USD | Point-in-time |
| Total assets |
Assets
|
$23.29B | USD | Point-in-time |
| Accounts payable |
AccountsPayableCurrent
|
$1.21B | USD | Point-in-time |
| Accounts payable |
AccountsPayableCurrent
|
$1.18B | USD | Point-in-time |
| Accrued liabilities |
AccruedLiabilitiesCurrent
|
$1.95B | USD | Point-in-time |
| Accrued liabilities |
AccruedLiabilitiesCurrent
|
$1.99B | USD | Point-in-time |
| Air traffic liability |
DeferredAirTrafficRevenue
|
$3.12B | USD | Point-in-time |
| Air traffic liability |
DeferredAirTrafficRevenue
|
$4.01B | USD | Point-in-time |
| Current maturities of long-term debt |
LongTermDebtAndCapitalLeaseObligationsCurrent
|
$566.00M | USD | Point-in-time |
| Current maturities of long-term debt |
LongTermDebtAndCapitalLeaseObligationsCurrent
|
$285.00M | USD | Point-in-time |
| Total current liabilities |
LiabilitiesCurrent
|
$6.84B | USD | Point-in-time |
| Total current liabilities |
LiabilitiesCurrent
|
$7.46B | USD | Point-in-time |
| Long-term debt less current maturities |
LongTermDebtAndCapitalLeaseObligations
|
$2.82B | USD | Point-in-time |
| Long-term debt less current maturities |
LongTermDebtAndCapitalLeaseObligations
|
$2.78B | USD | Point-in-time |
| Deferred income taxes |
DeferredTaxLiabilitiesNoncurrent
|
$3.44B | USD | Point-in-time |
| Deferred income taxes |
DeferredTaxLiabilitiesNoncurrent
|
$3.37B | USD | Point-in-time |
| Construction obligation |
ConstructionObligationNoncurrent
|
$1.18B | USD | Point-in-time |
| Construction obligation |
ConstructionObligationNoncurrent
|
$1.08B | USD | Point-in-time |
| Other noncurrent liabilities |
OtherLiabilitiesNoncurrent
|
$703.00M | USD | Point-in-time |
| Other noncurrent liabilities |
OtherLiabilitiesNoncurrent
|
$728.00M | 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
|
$1.42B | USD | Point-in-time |
| Capital in excess of par value |
AdditionalPaidInCapitalCommonStock
|
$1.41B | USD | Point-in-time |
| Retained earnings |
RetainedEarningsAccumulatedDeficit
|
$11.42B | USD | Point-in-time |
| Retained earnings |
RetainedEarningsAccumulatedDeficit
|
$11.71B | USD | Point-in-time |
| Accumulated other comprehensive loss |
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
$-323.00M | USD | Point-in-time |
| Accumulated other comprehensive loss |
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
$-312.00M | USD | Point-in-time |
| Treasury stock, at cost |
TreasuryStockValue
|
$5.42B | USD | Point-in-time |
| Treasury stock, at cost |
TreasuryStockValue
|
$4.87B | USD | Point-in-time |
| Total stockholders' equity |
StockholdersEquity
|
$8.20B | USD | Point-in-time |
| Total stockholders' equity |
StockholdersEquity
|
$8.44B | USD | Point-in-time |
| Total liabilities and stockholders' equity |
LiabilitiesAndStockholdersEquity
|
$23.29B | USD | Point-in-time |
| Total liabilities and stockholders' equity |
LiabilitiesAndStockholdersEquity
|
$23.76B | USD | Point-in-time |
Income Statement
54 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Passenger |
PassengerRevenue
|
$4.40B | USD | 1 Quarter |
| Passenger |
PassengerRevenue
|
$4.42B | USD | 1 Quarter |
| Freight |
CargoAndFreightRevenue
|
$42.00M | USD | 1 Quarter |
| Freight |
CargoAndFreightRevenue
|
$42.00M | USD | 1 Quarter |
| Other |
OtherSalesRevenueNet
|
$386.00M | USD | 1 Quarter |
| Other |
OtherSalesRevenueNet
|
$417.00M | USD | 1 Quarter |
| Total operating revenues |
Revenues
|
$4.83B | USD | 1 Quarter |
| Total operating revenues |
Revenues
|
$4.88B | USD | 1 Quarter |
| Salaries, wages, and benefits |
LaborAndRelatedExpense
|
$1.54B | USD | 1 Quarter |
| Salaries, wages, and benefits |
LaborAndRelatedExpense
|
$1.73B | USD | 1 Quarter |
| Fuel and oil |
FuelCosts
|
$852.00M | USD | 1 Quarter |
| Fuel and oil |
FuelCosts
|
$922.00M | USD | 1 Quarter |
| Maintenance materials and repairs |
AircraftMaintenanceMaterialsAndRepairs
|
$243.00M | USD | 1 Quarter |
| Maintenance materials and repairs |
AircraftMaintenanceMaterialsAndRepairs
|
$262.00M | USD | 1 Quarter |
| Aircraft rentals |
AircraftRental
|
$59.00M | USD | 1 Quarter |
| Aircraft rentals |
AircraftRental
|
$54.00M | USD | 1 Quarter |
| Landing fees and other rentals |
LandingFeesAndOtherRentals
|
$302.00M | USD | 1 Quarter |
| Landing fees and other rentals |
LandingFeesAndOtherRentals
|
$313.00M | USD | 1 Quarter |
| Depreciation and amortization |
DepreciationAndAmortization
|
$318.00M | USD | 1 Quarter |
| Depreciation and amortization |
DepreciationAndAmortization
|
$290.00M | USD | 1 Quarter |
| Other operating expenses |
OtherCostAndExpenseOperating
|
$578.00M | USD | 1 Quarter |
| Other operating expenses |
OtherCostAndExpenseOperating
|
$642.00M | USD | 1 Quarter |
| Total operating expenses |
OperatingExpenses
|
$4.22B | USD | 1 Quarter |
| Total operating expenses |
OperatingExpenses
|
$3.88B | USD | 1 Quarter |
| OPERATING INCOME |
OperatingIncomeLoss
|
$944.00M | USD | 1 Quarter |
| OPERATING INCOME |
OperatingIncomeLoss
|
$658.00M | USD | 1 Quarter |
| Interest Expense |
InterestExpense
|
$29.00M | USD | 1 Quarter |
| Interest Expense |
InterestExpense
|
$30.00M | USD | 1 Quarter |
| Capitalized interest |
InterestCostsCapitalizedAdjustment
|
$11.00M | USD | 1 Quarter |
| Capitalized interest |
InterestCostsCapitalizedAdjustment
|
$11.00M | USD | 1 Quarter |
| Interest income |
InvestmentIncomeInterest
|
$5.00M | USD | 1 Quarter |
| Interest income |
InvestmentIncomeInterest
|
$7.00M | USD | 1 Quarter |
| Other (gains) losses, net |
OtherNonoperatingIncomeExpense
|
$-114.00M | USD | 1 Quarter |
| Other (gains) losses, net |
OtherNonoperatingIncomeExpense
|
$-94.00M | USD | 1 Quarter |
| Total other expenses (income) |
NonoperatingIncomeExpense
|
$-105.00M | USD | 1 Quarter |
| Total other expenses (income) |
NonoperatingIncomeExpense
|
$-128.00M | USD | 1 Quarter |
| INCOME BEFORE INCOME TAXES |
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
$553.00M | USD | 1 Quarter |
| INCOME BEFORE INCOME TAXES |
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
$816.00M | USD | 1 Quarter |
| PROVISION FOR INCOME TAXES |
IncomeTaxExpenseBenefit
|
$303.00M | USD | 1 Quarter |
| PROVISION FOR INCOME TAXES |
IncomeTaxExpenseBenefit
|
$202.00M | USD | 1 Quarter |
| NET INCOME |
NetIncomeLoss
|
$513.00M | USD | 1 Quarter |
| NET INCOME |
NetIncomeLoss
|
$351.00M | USD | 1 Quarter |
| NET INCOME PER SHARE, BASIC |
EarningsPerShareBasic
|
$0.80 | USD | 1 Quarter |
| NET INCOME PER SHARE, BASIC |
EarningsPerShareBasic
|
$0.57 | USD | 1 Quarter |
| NET INCOME PER SHARE, DILUTED |
EarningsPerShareDiluted
|
$0.79 | USD | 1 Quarter |
| NET INCOME PER SHARE, DILUTED |
EarningsPerShareDiluted
|
$0.57 | USD | 1 Quarter |
| COMPREHENSIVE INCOME |
ComprehensiveIncomeNetOfTax
|
$362.00M | USD | 1 Quarter |
| COMPREHENSIVE INCOME |
ComprehensiveIncomeNetOfTax
|
$670.00M | USD | 1 Quarter |
| Basic |
WeightedAverageNumberOfSharesOutstandingBasic
|
613.00M | shares | 1 Quarter |
| Basic |
WeightedAverageNumberOfSharesOutstandingBasic
|
641.00M | shares | 1 Quarter |
| Diluted |
WeightedAverageNumberOfDilutedSharesOutstanding
|
648.00M | shares | 1 Quarter |
| Diluted |
WeightedAverageNumberOfDilutedSharesOutstanding
|
614.00M | shares | 1 Quarter |
| Cash dividends declared per common share |
CommonStockDividendsPerShareDeclared
|
$0.07 | USD | 1 Quarter |
| Cash dividends declared per common share |
CommonStockDividendsPerShareDeclared
|
$0.10 | USD | 1 Quarter |
Cash Flow Statement
66 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Net income |
NetIncomeLoss
|
$513.00M | USD | 1 Quarter |
| Net income |
NetIncomeLoss
|
$351.00M | USD | 1 Quarter |
| Depreciation and amortization |
DepreciationAndAmortization
|
$318.00M | USD | 1 Quarter |
| Depreciation and amortization |
DepreciationAndAmortization
|
$290.00M | USD | 1 Quarter |
| Unrealized/realized (gain) loss on fuel derivative instruments |
UnrealizedGainLossOnDerivatives
|
$-27.00M | USD | 1 Quarter |
| Unrealized/realized (gain) loss on fuel derivative instruments |
UnrealizedGainLossOnDerivatives
|
$-88.00M | USD | 1 Quarter |
| Deferred income taxes |
IncreaseDecreaseInDeferredIncomeTaxes
|
$26.00M | USD | 1 Quarter |
| Deferred income taxes |
IncreaseDecreaseInDeferredIncomeTaxes
|
$62.00M | USD | 1 Quarter |
| Accounts and other receivables |
IncreaseDecreaseInAccountsAndOtherReceivables
|
$35.00M | USD | 1 Quarter |
| Accounts and other receivables |
IncreaseDecreaseInAccountsAndOtherReceivables
|
$21.00M | USD | 1 Quarter |
| Other assets |
IncreaseDecreaseInOtherOperatingAssets
|
$81.00M | USD | 1 Quarter |
| Other assets |
IncreaseDecreaseInOtherOperatingAssets
|
$-4.00M | USD | 1 Quarter |
| Accounts payable and accrued liabilities |
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
$313.00M | USD | 1 Quarter |
| Accounts payable and accrued liabilities |
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
$93.00M | USD | 1 Quarter |
| Air traffic liability |
IncreaseDecreaseInDeferredAirTrafficRevenue
|
$685.00M | USD | 1 Quarter |
| Air traffic liability |
IncreaseDecreaseInDeferredAirTrafficRevenue
|
$897.00M | USD | 1 Quarter |
| Cash collateral received from (provided to) derivative counterparties |
IncreaseDecreaseCashCollateralFromCounterparties
|
$-231.00M | USD | 1 Quarter |
| Cash collateral received from (provided to) derivative counterparties |
IncreaseDecreaseCashCollateralFromCounterparties
|
$37.00M | USD | 1 Quarter |
| Other, net |
OtherOperatingActivitiesCashFlowStatement
|
$-44.00M | USD | 1 Quarter |
| Other, net |
OtherOperatingActivitiesCashFlowStatement
|
$-51.00M | USD | 1 Quarter |
| Net cash provided by operating activities |
NetCashProvidedByUsedInOperatingActivities
|
$1.62B | USD | 1 Quarter |
| Net cash provided by operating activities |
NetCashProvidedByUsedInOperatingActivities
|
$1.62B | USD | 1 Quarter |
| Capital expenditures |
PaymentsToAcquireProductiveAssets
|
$438.00M | USD | 1 Quarter |
| Capital expenditures |
PaymentsToAcquireProductiveAssets
|
$414.00M | USD | 1 Quarter |
| Assets constructed for others |
PaymentsForConstructionInProcess
|
$11.00M | USD | 1 Quarter |
| Assets constructed for others |
PaymentsForConstructionInProcess
|
$49.00M | USD | 1 Quarter |
| Purchases of short-term investments |
PaymentsToAcquireShortTermInvestments
|
$256.00M | USD | 1 Quarter |
| Purchases of short-term investments |
PaymentsToAcquireShortTermInvestments
|
$563.00M | USD | 1 Quarter |
| Proceeds from sales of short-term and other investments |
ProceedsFromSaleOfShortTermInvestments
|
$556.00M | USD | 1 Quarter |
| Proceeds from sales of short-term and other investments |
ProceedsFromSaleOfShortTermInvestments
|
$530.00M | USD | 1 Quarter |
| Net cash used in investing activities |
NetCashProvidedByUsedInInvestingActivities
|
$-175.00M | USD | 1 Quarter |
| Net cash used in investing activities |
NetCashProvidedByUsedInInvestingActivities
|
$-470.00M | USD | 1 Quarter |
| Proceeds from Employee stock plans |
ProceedsFromStockPlans
|
$11.00M | USD | 1 Quarter |
| Proceeds from Employee stock plans |
ProceedsFromStockPlans
|
$7.00M | USD | 1 Quarter |
| Reimbursement for assets constructed for others |
Reimbursementforairportconstruction
|
$49.00M | USD | 1 Quarter |
| Reimbursement for assets constructed for others |
Reimbursementforairportconstruction
|
$10.00M | USD | 1 Quarter |
| Payments of long-term debt and capital lease obligations |
RepaymentsOfLongTermDebtAndCapitalSecurities
|
$56.00M | USD | 1 Quarter |
| Payments of long-term debt and capital lease obligations |
RepaymentsOfLongTermDebtAndCapitalSecurities
|
$369.00M | USD | 1 Quarter |
| Payments of cash dividends |
PaymentsOfDividends
|
$96.00M | USD | 1 Quarter |
| Payments of cash dividends |
PaymentsOfDividends
|
$123.00M | USD | 1 Quarter |
| Repayment of construction obligation |
RepaymentsOfConstructionObligation
|
$2.00M | USD | 1 Quarter |
| Repayment of construction obligation |
RepaymentsOfConstructionObligation
|
$2.00M | USD | 1 Quarter |
| Repurchase of common stock |
PaymentsForRepurchaseOfCommonStock
|
$550.00M | USD | 1 Quarter |
| Repurchase of common stock |
PaymentsForRepurchaseOfCommonStock
|
$500.00M | USD | 1 Quarter |
| Other, net |
ProceedsFromPaymentsForOtherFinancingActivities
|
$4.00M | USD | 1 Quarter |
| Other, net |
ProceedsFromPaymentsForOtherFinancingActivities
|
$-3.00M | USD | 1 Quarter |
| Net cash used in financing activities |
NetCashProvidedByUsedInFinancingActivities
|
$-636.00M | USD | 1 Quarter |
| Net cash used in financing activities |
NetCashProvidedByUsedInFinancingActivities
|
$-984.00M | USD | 1 Quarter |
| NET CHANGE IN CASH AND CASH EQUIVALENTS |
CashAndCashEquivalentsPeriodIncreaseDecrease
|
$805.00M | USD | 1 Quarter |
| NET CHANGE IN CASH AND CASH EQUIVALENTS |
CashAndCashEquivalentsPeriodIncreaseDecrease
|
$171.00M | USD | 1 Quarter |
| CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD |
CashAndCashEquivalentsAtCarryingValue
|
$2.39B | USD | Point-in-time |
| CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD |
CashAndCashEquivalentsAtCarryingValue
|
$1.85B | USD | Point-in-time |
| CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD |
CashAndCashEquivalentsAtCarryingValue
|
$1.68B | USD | Point-in-time |
| CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD |
CashAndCashEquivalentsAtCarryingValue
|
$1.58B | USD | Point-in-time |
| CASH AND CASH EQUIVALENTS AT END OF PERIOD |
CashAndCashEquivalentsAtCarryingValue
|
$2.39B | USD | Point-in-time |
| CASH AND CASH EQUIVALENTS AT END OF PERIOD |
CashAndCashEquivalentsAtCarryingValue
|
$1.85B | USD | Point-in-time |
| CASH AND CASH EQUIVALENTS AT END OF PERIOD |
CashAndCashEquivalentsAtCarryingValue
|
$1.68B | USD | Point-in-time |
| CASH AND CASH EQUIVALENTS AT END OF PERIOD |
CashAndCashEquivalentsAtCarryingValue
|
$1.58B | USD | Point-in-time |
| Interest, net of amount capitalized |
InterestPaidNet
|
$27.00M | USD | 1 Quarter |
| Interest, net of amount capitalized |
InterestPaidNet
|
$27.00M | USD | 1 Quarter |
| Income taxes |
IncomeTaxesPaid
|
$73.00M | USD | 1 Quarter |
| Income taxes |
IncomeTaxesPaid
|
$6.00M | USD | 1 Quarter |
| Flight equipment under capital leases |
CapitalLeaseObligationsIncurred
|
$169.00M | USD | 1 Quarter |
| Flight equipment under capital leases |
CapitalLeaseObligationsIncurred
|
$39.00M | USD | 1 Quarter |
| Assets constructed for others |
AssetsConstructedforOthersDuringPeriod
|
$60.00M | USD | 1 Quarter |
| Assets constructed for others |
AssetsConstructedforOthersDuringPeriod
|
$50.00M | USD | 1 Quarter |
Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.