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10-Q Filing

SOUTHWEST AIRLINES CO CIK: 92380 Q1 2019
Filing Information
Form Type 10-Q
Accession Number 0000092380-19-000049
Period End Date 20190331
Filing Date 20190430
Fiscal Year 2019
Fiscal Period Q1
XBRL Instance luv-3312019x10q_htm.xml
Filing Contents
Balance Sheet 76 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $1.50B USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $1.85B USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $2.34B USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $1.82B USD Point-in-time
Short-term investments ShortTermInvestments $1.83B USD Point-in-time
Short-term investments ShortTermInvestments $1.52B USD Point-in-time
Accounts and other receivables AccountsAndOtherReceivablesNetCurrent $568.00M USD Point-in-time
Accounts and other receivables AccountsAndOtherReceivablesNetCurrent $784.00M USD Point-in-time
Inventories of parts and supplies, at cost AirlineRelatedInventory $461.00M USD Point-in-time
Inventories of parts and supplies, at cost AirlineRelatedInventory $484.00M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $310.00M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $354.00M USD Point-in-time
Total current assets AssetsCurrent $5.03B USD Point-in-time
Total current assets AssetsCurrent $5.48B USD Point-in-time
Flight equipment FlightEquipmentGross $21.75B USD Point-in-time
Flight equipment FlightEquipmentGross $21.67B USD Point-in-time
Ground property and equipment PropertyPlantAndEquipmentOther $4.96B USD Point-in-time
Ground property and equipment PropertyPlantAndEquipmentOther $5.08B USD Point-in-time
Deposits on flight equipment purchase contracts DepositsOnFlightEquipment $780.00M USD Point-in-time
Deposits on flight equipment purchase contracts DepositsOnFlightEquipment $775.00M USD Point-in-time
Assets constructed for others AssetsConstructedForOthers $120.00M USD Point-in-time
Assets constructed for others AssetsConstructedForOthers $1.77B USD Point-in-time
Property and equipment, at cost PropertyPlantAndEquipmentGross $29.26B USD Point-in-time
Property and equipment, at cost PropertyPlantAndEquipmentGross $27.65B USD Point-in-time
Less allowance for depreciation and amortization AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $9.73B USD Point-in-time
Less allowance for depreciation and amortization AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $9.88B USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $17.77B USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $19.52B USD Point-in-time
Goodwill Goodwill $970.00M USD Point-in-time
Goodwill Goodwill $970.00M USD Point-in-time
Operating lease right-of-use assets OperatingLeaseRightOfUseAsset $1.51B USD Point-in-time
Operating lease right-of-use assets OperatingLeaseRightOfUseAsset - USD Point-in-time
Other assets OtherAssetsNoncurrent $720.00M USD Point-in-time
Other assets OtherAssetsNoncurrent $725.00M USD Point-in-time
Total assets Assets $26.46B USD Point-in-time
Total assets Assets $26.24B USD Point-in-time
Accounts payable AccountsPayableCurrent $1.41B USD Point-in-time
Accounts payable AccountsPayableCurrent $1.42B USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $1.75B USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $1.35B USD Point-in-time
Current operating lease liabilities OperatingLeaseLiabilityCurrent $361.00M USD Point-in-time
Current operating lease liabilities OperatingLeaseLiabilityCurrent - USD Point-in-time
Air traffic liability DeferredAirTrafficRevenue $4.13B USD Point-in-time
Air traffic liability DeferredAirTrafficRevenue $5.03B USD Point-in-time
Current maturities of long-term debt LongTermDebtAndCapitalLeaseObligationsCurrent $571.00M USD Point-in-time
Current maturities of long-term debt LongTermDebtAndCapitalLeaseObligationsCurrent $606.00M USD Point-in-time
Total current liabilities LiabilitiesCurrent $8.72B USD Point-in-time
Total current liabilities LiabilitiesCurrent $7.91B USD Point-in-time
Long-term debt less current maturities LongTermDebtAndCapitalLeaseObligations $2.60B USD Point-in-time
Long-term debt less current maturities LongTermDebtAndCapitalLeaseObligations $2.77B USD Point-in-time
Air traffic liability - noncurrent FrequentFlierLiabilityNoncurrent $936.00M USD Point-in-time
Air traffic liability - noncurrent FrequentFlierLiabilityNoncurrent $985.00M USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $2.43B USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $2.48B USD Point-in-time
Construction obligation ConstructionObligationNoncurrent $120.00M USD Point-in-time
Construction obligation ConstructionObligationNoncurrent $1.70B USD Point-in-time
Noncurrent operating lease liabilities OperatingLeaseLiabilityNoncurrent - USD Point-in-time
Noncurrent operating lease liabilities OperatingLeaseLiabilityNoncurrent $1.15B USD Point-in-time
Other noncurrent liabilities OtherLiabilitiesNoncurrent $650.00M USD Point-in-time
Other noncurrent liabilities OtherLiabilitiesNoncurrent $608.00M 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 $1.51B USD Point-in-time
Capital in excess of par value AdditionalPaidInCapitalCommonStock $1.51B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $15.97B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $16.32B USD Point-in-time
Accumulated other comprehensive income AccumulatedOtherComprehensiveIncomeLossNetOfTax $96.00M USD Point-in-time
Accumulated other comprehensive income AccumulatedOtherComprehensiveIncomeLossNetOfTax $20.00M USD Point-in-time
Treasury stock, at cost TreasuryStockValue $8.95B USD Point-in-time
Treasury stock, at cost TreasuryStockValue $8.45B USD Point-in-time
Total stockholders' equity StockholdersEquity $9.79B USD Point-in-time
Total stockholders' equity StockholdersEquity $9.62B USD Point-in-time
Total stockholders' equity StockholdersEquity $9.64B USD Point-in-time
Total stockholders' equity StockholdersEquity $9.85B USD Point-in-time
Total liabilities and stockholders' equity LiabilitiesAndStockholdersEquity $26.46B USD Point-in-time
Total liabilities and stockholders' equity LiabilitiesAndStockholdersEquity $26.24B USD Point-in-time
Income Statement 44 line items
Line Item Tag Value Unit Period
Operating Revenue RevenueFromContractWithCustomerExcludingAssessedTax $4.94B USD 1 Quarter
Operating Revenue RevenueFromContractWithCustomerExcludingAssessedTax $5.15B USD 1 Quarter
Salaries, wages, and benefits LaborAndRelatedExpense $1.98B USD 1 Quarter
Salaries, wages, and benefits LaborAndRelatedExpense $1.82B USD 1 Quarter
Fuel and oil FuelCosts $1.01B USD 1 Quarter
Fuel and oil FuelCosts $1.02B USD 1 Quarter
Maintenance materials and repairs AircraftMaintenanceMaterialsAndRepairs $293.00M USD 1 Quarter
Maintenance materials and repairs AircraftMaintenanceMaterialsAndRepairs $257.00M USD 1 Quarter
Landing fees and airport rentals LandingFeesAndOtherRentals $333.00M USD 1 Quarter
Landing fees and airport rentals LandingFeesAndOtherRentals $330.00M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $277.00M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $297.00M USD 1 Quarter
Other operating expenses OtherCostAndExpenseOperating $625.00M USD 1 Quarter
Other operating expenses OtherCostAndExpenseOperating $730.00M USD 1 Quarter
Total operating expenses OperatingExpenses $4.33B USD 1 Quarter
Total operating expenses OperatingExpenses $4.64B USD 1 Quarter
OPERATING INCOME OperatingIncomeLoss $616.00M USD 1 Quarter
OPERATING INCOME OperatingIncomeLoss $505.00M USD 1 Quarter
Interest Expense InterestExpense $32.00M USD 1 Quarter
Interest Expense InterestExpense $31.00M USD 1 Quarter
Capitalized interest InterestCostsCapitalizedAdjustment $10.00M USD 1 Quarter
Capitalized interest InterestCostsCapitalizedAdjustment $9.00M USD 1 Quarter
Interest income InvestmentIncomeInterest $23.00M USD 1 Quarter
Interest income InvestmentIncomeInterest $12.00M USD 1 Quarter
Other (gains) losses, net OtherNonoperatingIncomeExpense $-2.00M USD 1 Quarter
Other (gains) losses, net OtherNonoperatingIncomeExpense $4.00M USD 1 Quarter
Total other expenses (income) NonoperatingIncomeExpense $-14.00M USD 1 Quarter
Total other expenses (income) NonoperatingIncomeExpense $-1.00M USD 1 Quarter
INCOME BEFORE INCOME TAXES IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $602.00M USD 1 Quarter
INCOME BEFORE INCOME TAXES IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $504.00M USD 1 Quarter
PROVISION FOR INCOME TAXES IncomeTaxExpenseBenefit $117.00M USD 1 Quarter
PROVISION FOR INCOME TAXES IncomeTaxExpenseBenefit $139.00M USD 1 Quarter
NET INCOME NetIncomeLoss $463.00M USD 1 Quarter
NET INCOME NetIncomeLoss $387.00M USD 1 Quarter
NET INCOME PER SHARE, BASIC EarningsPerShareBasic $0.79 USD 1 Quarter
NET INCOME PER SHARE, BASIC EarningsPerShareBasic $0.70 USD 1 Quarter
NET INCOME PER SHARE, DILUTED EarningsPerShareDiluted $0.79 USD 1 Quarter
NET INCOME PER SHARE, DILUTED EarningsPerShareDiluted $0.70 USD 1 Quarter
COMPREHENSIVE INCOME ComprehensiveIncomeNetOfTax $547.00M USD 1 Quarter
COMPREHENSIVE INCOME ComprehensiveIncomeNetOfTax $463.00M USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 551.00M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 587.00M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 552.00M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 588.00M shares 1 Quarter
Cash Flow Statement 68 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $463.00M USD 1 Quarter
Net income NetIncomeLoss $387.00M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $277.00M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $297.00M USD 1 Quarter
Unrealized/realized gains on fuel derivative instruments UnrealizedGainLossOnDerivatives $7.00M USD 1 Quarter
Unrealized/realized gains on fuel derivative instruments UnrealizedGainLossOnDerivatives - USD 1 Quarter
Deferred income taxes IncreaseDecreaseInDeferredIncomeTaxes $13.00M USD 1 Quarter
Deferred income taxes IncreaseDecreaseInDeferredIncomeTaxes $72.00M USD 1 Quarter
Accounts and other receivables IncreaseDecreaseInAccountsAndOtherReceivables $15.00M USD 1 Quarter
Accounts and other receivables IncreaseDecreaseInAccountsAndOtherReceivables $222.00M USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $178.00M USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $-29.00M USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-501.00M USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-257.00M USD 1 Quarter
Air traffic liability IncreaseDecreaseInDeferredAirTrafficRevenue $866.00M USD 1 Quarter
Air traffic liability IncreaseDecreaseInDeferredAirTrafficRevenue $944.00M USD 1 Quarter
Other liabilities IncreaseDecreaseInOtherOperatingLiabilities - USD 1 Quarter
Other liabilities IncreaseDecreaseInOtherOperatingLiabilities $-69.00M USD 1 Quarter
Cash collateral received from derivative counterparties IncreaseDecreaseCashCollateralFromCounterparties $15.00M USD 1 Quarter
Cash collateral received from derivative counterparties IncreaseDecreaseCashCollateralFromCounterparties $65.00M USD 1 Quarter
Other, net OtherOperatingActivitiesCashFlowStatement $-40.00M USD 1 Quarter
Other, net OtherOperatingActivitiesCashFlowStatement $-32.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $1.00B USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $1.10B USD 1 Quarter
Capital expenditures PaymentsToAcquireProductiveAssets $409.00M USD 1 Quarter
Capital expenditures PaymentsToAcquireProductiveAssets $160.00M USD 1 Quarter
Assets constructed for others PaymentsForConstructionInProcess $24.00M USD 1 Quarter
Assets constructed for others PaymentsForConstructionInProcess - USD 1 Quarter
Purchases of short-term investments PaymentsToAcquireShortTermInvestments $251.00M USD 1 Quarter
Purchases of short-term investments PaymentsToAcquireShortTermInvestments $200.00M USD 1 Quarter
Proceeds from sales of short-term and other investments ProceedsFromSaleOfShortTermInvestments $575.00M USD 1 Quarter
Proceeds from sales of short-term and other investments ProceedsFromSaleOfShortTermInvestments $560.00M USD 1 Quarter
Net cash provided by (used in) investing activities NetCashProvidedByUsedInInvestingActivities $-73.00M USD 1 Quarter
Net cash provided by (used in) investing activities NetCashProvidedByUsedInInvestingActivities $164.00M USD 1 Quarter
Proceeds from Employee stock plans ProceedsFromStockPlans $10.00M USD 1 Quarter
Proceeds from Employee stock plans ProceedsFromStockPlans $9.00M USD 1 Quarter
Reimbursement for assets constructed for others Reimbursementforairportconstruction $139.00M USD 1 Quarter
Reimbursement for assets constructed for others Reimbursementforairportconstruction - USD 1 Quarter
Payments of long-term debt and finance lease obligations RepaymentsOfLongTermDebtAndCapitalSecurities $99.00M USD 1 Quarter
Payments of long-term debt and finance lease obligations RepaymentsOfLongTermDebtAndCapitalSecurities $82.00M USD 1 Quarter
Payments of cash dividends PaymentsOfDividends $178.00M USD 1 Quarter
Payments of cash dividends PaymentsOfDividends $148.00M USD 1 Quarter
Repayment of construction obligation RepaymentsOfConstructionObligation - USD 1 Quarter
Repayment of construction obligation RepaymentsOfConstructionObligation $7.00M USD 1 Quarter
Repurchase of common stock PaymentsForRepurchaseOfCommonStock $500.00M USD 1 Quarter
Repurchase of common stock PaymentsForRepurchaseOfCommonStock $500.00M USD 1 Quarter
Other, net ProceedsFromPaymentsForOtherFinancingActivities $-12.00M USD 1 Quarter
Other, net ProceedsFromPaymentsForOtherFinancingActivities $-13.00M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-602.00M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-779.00M USD 1 Quarter
NET CHANGE IN CASH AND CASH EQUIVALENTS CashAndCashEquivalentsPeriodIncreaseDecrease $327.00M USD 1 Quarter
NET CHANGE IN CASH AND CASH EQUIVALENTS CashAndCashEquivalentsPeriodIncreaseDecrease $490.00M USD 1 Quarter
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD CashAndCashEquivalentsAtCarryingValue $1.50B 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 $2.34B USD Point-in-time
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD CashAndCashEquivalentsAtCarryingValue $1.82B USD Point-in-time
CASH AND CASH EQUIVALENTS AT END OF PERIOD CashAndCashEquivalentsAtCarryingValue $1.50B 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 $2.34B USD Point-in-time
CASH AND CASH EQUIVALENTS AT END OF PERIOD CashAndCashEquivalentsAtCarryingValue $1.82B USD Point-in-time
Interest, net of amount capitalized InterestPaidNet $15.00M USD 1 Quarter
Interest, net of amount capitalized InterestPaidNet $18.00M USD 1 Quarter
Income taxes IncomeTaxesPaid $4.00M USD 1 Quarter
Income taxes IncomeTaxesPaid $4.00M USD 1 Quarter
Flight equipment under finance leases CapitalLeaseObligationsIncurred $14.00M USD 1 Quarter
Flight equipment under finance leases CapitalLeaseObligationsIncurred $1.00M USD 1 Quarter
Assets constructed for others AssetsConstructedforOthersDuringPeriod $21.00M USD 1 Quarter
Assets constructed for others AssetsConstructedforOthersDuringPeriod $40.00M USD 1 Quarter
Stockholders Equity 22 line items
Line Item Tag Value Unit Period
Cash dividends, per share (in dollars per share) CommonStockDividendsPerShareCashPaid $0.12 USD 1 Quarter
Cash dividends, per share (in dollars per share) CommonStockDividendsPerShareCashPaid $0.16 USD 1 Quarter
Balance at beginning of period StockholdersEquity $9.79B USD Point-in-time
Balance at beginning of period StockholdersEquity $9.62B USD Point-in-time
Balance at beginning of period StockholdersEquity $9.64B USD Point-in-time
Balance at beginning of period StockholdersEquity $9.85B USD Point-in-time
Cumulative effect of new accounting standards NewAccountingPronouncementOrChangeInAccountingPrincipleCumulativeEffectOfChangeOnEquityOrNetAssets1 - USD Point-in-time
Cumulative effect of new accounting standards NewAccountingPronouncementOrChangeInAccountingPrincipleCumulativeEffectOfChangeOnEquityOrNetAssets1 $55.00M USD Point-in-time
Repurchase of common stock TreasuryStockValueAcquiredCostMethod $500.00M USD 1 Quarter
Repurchase of common stock TreasuryStockValueAcquiredCostMethod $500.00M USD 1 Quarter
Issuance of common and treasury stock pursuant to Employee stock plans StockIssuedDuringPeriodValueEmployeeStockPurchasePlan $4.00M USD 1 Quarter
Issuance of common and treasury stock pursuant to Employee stock plans StockIssuedDuringPeriodValueEmployeeStockPurchasePlan $4.00M USD 1 Quarter
Share-based compensation StockIssuedDuringPeriodValueShareBasedCompensation $13.00M USD 1 Quarter
Share-based compensation StockIssuedDuringPeriodValueShareBasedCompensation $10.00M USD 1 Quarter
Cash dividends DividendsCash $89.00M USD 1 Quarter
Cash dividends DividendsCash $75.00M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $547.00M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $463.00M USD 1 Quarter
Balance at end of period StockholdersEquity $9.79B USD Point-in-time
Balance at end of period StockholdersEquity $9.62B USD Point-in-time
Balance at end of period StockholdersEquity $9.64B USD Point-in-time
Balance at end of period StockholdersEquity $9.85B USD Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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