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10-Q Filing

SOUTHWEST AIRLINES CO CIK: 92380 Q1 2020
Filing Information
Form Type 10-Q
Accession Number 0000092380-20-000060
Period End Date 20200331
Filing Date 20200428
Fiscal Year 2020
Fiscal Period Q1
XBRL Instance luv-3312020x10q_htm.xml
Filing Contents
Balance Sheet 76 line items
Line Item Tag Value Unit Period
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 $2.55B USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $3.94B USD Point-in-time
Short-term investments ShortTermInvestments $1.52B USD Point-in-time
Short-term investments ShortTermInvestments $1.60B USD Point-in-time
Accounts and other receivables AccountsAndOtherReceivablesNetCurrent $709.00M USD Point-in-time
Accounts and other receivables AccountsAndOtherReceivablesNetCurrent $1.09B USD Point-in-time
Inventories of parts and supplies, at cost AirlineRelatedInventory $518.00M USD Point-in-time
Inventories of parts and supplies, at cost AirlineRelatedInventory $529.00M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $256.00M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $287.00M USD Point-in-time
Total current assets AssetsCurrent $5.97B USD Point-in-time
Total current assets AssetsCurrent $7.03B USD Point-in-time
Flight equipment FlightEquipmentGross $21.58B USD Point-in-time
Flight equipment FlightEquipmentGross $21.63B USD Point-in-time
Ground property and equipment PropertyPlantAndEquipmentOther $5.82B USD Point-in-time
Ground property and equipment PropertyPlantAndEquipmentOther $5.67B USD Point-in-time
Deposits on flight equipment purchase contracts DepositsOnFlightEquipment $248.00M USD Point-in-time
Deposits on flight equipment purchase contracts DepositsOnFlightEquipment $305.00M USD Point-in-time
Assets constructed for others AssetsConstructedForOthers $198.00M USD Point-in-time
Assets constructed for others AssetsConstructedForOthers $164.00M USD Point-in-time
Property and equipment, at cost PropertyPlantAndEquipmentGross $27.90B USD Point-in-time
Property and equipment, at cost PropertyPlantAndEquipmentGross $27.71B USD Point-in-time
Less allowance for depreciation and amortization AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $10.69B USD Point-in-time
Less allowance for depreciation and amortization AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $10.91B USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $16.99B USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $17.02B 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 $1.28B USD Point-in-time
Operating lease right-of-use assets OperatingLeaseRightOfUseAsset $1.35B USD Point-in-time
Other assets OtherAssetsNoncurrent $620.00M USD Point-in-time
Other assets OtherAssetsNoncurrent $577.00M USD Point-in-time
Total assets Assets $26.89B USD Point-in-time
Total assets Assets $25.89B USD Point-in-time
Accounts payable AccountsPayableCurrent $1.04B USD Point-in-time
Accounts payable AccountsPayableCurrent $1.57B USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $1.04B USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $1.75B USD Point-in-time
Current operating lease liabilities OperatingLeaseLiabilityCurrent $353.00M USD Point-in-time
Current operating lease liabilities OperatingLeaseLiabilityCurrent $330.00M USD Point-in-time
Air traffic liability ContractWithCustomerLiabilityCurrent $5.04B USD Point-in-time
Air traffic liability ContractWithCustomerLiabilityCurrent $4.46B USD Point-in-time
Current maturities of long-term debt LongTermDebtAndCapitalLeaseObligationsCurrent $2.79B USD Point-in-time
Current maturities of long-term debt LongTermDebtAndCapitalLeaseObligationsCurrent $819.00M USD Point-in-time
Total current liabilities LiabilitiesCurrent $8.95B USD Point-in-time
Total current liabilities LiabilitiesCurrent $10.24B USD Point-in-time
Long-term debt less current maturities LongTermDebtAndCapitalLeaseObligations $1.85B USD Point-in-time
Long-term debt less current maturities LongTermDebtAndCapitalLeaseObligations $2.29B USD Point-in-time
Air traffic liability - noncurrent ContractWithCustomerLiabilityNoncurrent $1.05B USD Point-in-time
Air traffic liability - noncurrent ContractWithCustomerLiabilityNoncurrent $1.18B USD Point-in-time
Deferred income taxes DeferredIncomeTaxLiabilitiesNet $2.28B USD Point-in-time
Deferred income taxes DeferredIncomeTaxLiabilitiesNet $2.36B USD Point-in-time
Construction obligation ConstructionObligationNoncurrent $164.00M USD Point-in-time
Construction obligation ConstructionObligationNoncurrent $198.00M USD Point-in-time
Noncurrent operating lease liabilities OperatingLeaseLiabilityNoncurrent $936.00M USD Point-in-time
Noncurrent operating lease liabilities OperatingLeaseLiabilityNoncurrent $978.00M USD Point-in-time
Other noncurrent liabilities OtherLiabilitiesNoncurrent $694.00M USD Point-in-time
Other noncurrent liabilities OtherLiabilitiesNoncurrent $706.00M 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 $1.58B USD Point-in-time
Capital in excess of par value AdditionalPaidInCapitalCommonStock $1.58B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $17.95B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $17.76B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-186.00M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-61.00M USD Point-in-time
Treasury stock, at cost TreasuryStockValue $10.44B USD Point-in-time
Treasury stock, at cost TreasuryStockValue $10.89B USD Point-in-time
Total stockholders' equity StockholdersEquity $9.07B USD Point-in-time
Total stockholders' equity StockholdersEquity $9.83B USD Point-in-time
Total stockholders' equity StockholdersEquity $9.85B USD Point-in-time
Total stockholders' equity StockholdersEquity $9.79B USD Point-in-time
Total liabilities and stockholders' equity LiabilitiesAndStockholdersEquity $26.89B USD Point-in-time
Total liabilities and stockholders' equity LiabilitiesAndStockholdersEquity $25.89B USD Point-in-time
Income Statement 44 line items
Line Item Tag Value Unit Period
Operating Revenue RevenueFromContractWithCustomerExcludingAssessedTax $4.23B USD 1 Quarter
Operating Revenue RevenueFromContractWithCustomerExcludingAssessedTax $5.15B USD 1 Quarter
Salaries, wages, and benefits LaborAndRelatedExpense $1.85B USD 1 Quarter
Salaries, wages, and benefits LaborAndRelatedExpense $1.98B USD 1 Quarter
Fuel and oil FuelCosts $870.00M USD 1 Quarter
Fuel and oil FuelCosts $1.01B USD 1 Quarter
Landing fees and airport rentals LandingFeesAndOtherRentals $339.00M USD 1 Quarter
Landing fees and airport rentals LandingFeesAndOtherRentals $333.00M USD 1 Quarter
Maintenance materials and repairs AircraftMaintenanceMaterialsAndRepairs $272.00M USD 1 Quarter
Maintenance materials and repairs AircraftMaintenanceMaterialsAndRepairs $293.00M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $311.00M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $297.00M USD 1 Quarter
Other operating expenses OtherCostAndExpenseOperating $730.00M USD 1 Quarter
Other operating expenses OtherCostAndExpenseOperating $698.00M USD 1 Quarter
Operating Costs and Expenses OperatingCostsAndExpenses $4.34B USD 1 Quarter
Operating Costs and Expenses OperatingCostsAndExpenses $4.64B USD 1 Quarter
OPERATING INCOME (LOSS) OperatingIncomeLoss $-110.00M USD 1 Quarter
OPERATING INCOME (LOSS) OperatingIncomeLoss $505.00M USD 1 Quarter
Interest expense InterestCostsIncurred $28.00M USD 1 Quarter
Interest expense InterestCostsIncurred $31.00M USD 1 Quarter
Capitalized interest InterestCostsCapitalizedAdjustment $5.00M USD 1 Quarter
Capitalized interest InterestCostsCapitalizedAdjustment $9.00M USD 1 Quarter
Interest income InvestmentIncomeInterest $23.00M USD 1 Quarter
Interest income InvestmentIncomeInterest $17.00M USD 1 Quarter
Other (gains) losses, net OtherNonoperatingIncomeExpense $-28.00M USD 1 Quarter
Other (gains) losses, net OtherNonoperatingIncomeExpense $-2.00M USD 1 Quarter
Total other expenses (income) NonoperatingIncomeExpense $-1.00M USD 1 Quarter
Total other expenses (income) NonoperatingIncomeExpense $-34.00M USD 1 Quarter
INCOME (LOSS) BEFORE INCOME TAXES IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $-144.00M USD 1 Quarter
INCOME (LOSS) BEFORE INCOME TAXES IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $504.00M USD 1 Quarter
PROVISION FOR INCOME TAXES IncomeTaxExpenseBenefit $117.00M USD 1 Quarter
PROVISION FOR INCOME TAXES IncomeTaxExpenseBenefit $-50.00M USD 1 Quarter
NET INCOME (LOSS) NetIncomeLoss $387.00M USD 1 Quarter
NET INCOME (LOSS) NetIncomeLoss $-94.00M USD 1 Quarter
NET INCOME (LOSS) PER SHARE, BASIC EarningsPerShareBasic $-0.18 USD 1 Quarter
NET INCOME (LOSS) PER SHARE, BASIC EarningsPerShareBasic $0.70 USD 1 Quarter
NET INCOME (LOSS) PER SHARE, DILUTED EarningsPerShareDiluted $0.70 USD 1 Quarter
NET INCOME (LOSS) PER SHARE, DILUTED EarningsPerShareDiluted $-0.18 USD 1 Quarter
COMPREHENSIVE INCOME (LOSS) ComprehensiveIncomeNetOfTax $463.00M USD 1 Quarter
COMPREHENSIVE INCOME (LOSS) ComprehensiveIncomeNetOfTax $-219.00M USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 551.00M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 515.00M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 515.00M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 552.00M shares 1 Quarter
Cash Flow Statement 72 line items
Line Item Tag Value Unit Period
Net income (loss) NetIncomeLoss $387.00M USD 1 Quarter
Net income (loss) NetIncomeLoss $-94.00M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $311.00M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $297.00M USD 1 Quarter
Unrealized/realized (gain) loss on fuel derivative instruments UnrealizedGainLossOnDerivatives - USD 1 Quarter
Unrealized/realized (gain) loss on fuel derivative instruments UnrealizedGainLossOnDerivatives $-2.00M USD 1 Quarter
Deferred income taxes IncreaseDecreaseInDeferredIncomeTaxes $49.00M USD 1 Quarter
Deferred income taxes IncreaseDecreaseInDeferredIncomeTaxes $-13.00M USD 1 Quarter
Accounts and other receivables IncreaseDecreaseInAccountsAndOtherReceivables $222.00M USD 1 Quarter
Accounts and other receivables IncreaseDecreaseInAccountsAndOtherReceivables $-183.00M USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $-29.00M USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $-58.00M USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-1.29B USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-257.00M USD 1 Quarter
Air traffic liability IncreaseDecreaseInContractWithCustomerLiability $944.00M USD 1 Quarter
Air traffic liability IncreaseDecreaseInContractWithCustomerLiability $701.00M USD 1 Quarter
Other liabilities IncreaseDecreaseInOtherOperatingLiabilities $-132.00M USD 1 Quarter
Other liabilities IncreaseDecreaseInOtherOperatingLiabilities $-69.00M USD 1 Quarter
Cash collateral received from (provided to) derivative counterparties IncreaseDecreaseCashCollateralFromCounterparties $-5.00M USD 1 Quarter
Cash collateral received from (provided to) derivative counterparties IncreaseDecreaseCashCollateralFromCounterparties $15.00M USD 1 Quarter
Other, net OtherOperatingActivitiesCashFlowStatement $-32.00M USD 1 Quarter
Other, net OtherOperatingActivitiesCashFlowStatement $-61.00M USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $-377.00M USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $1.10B USD 1 Quarter
Capital expenditures PaymentsToAcquireProductiveAssets $160.00M USD 1 Quarter
Capital expenditures PaymentsToAcquireProductiveAssets $224.00M USD 1 Quarter
Supplier Proceeds SupplierProceeds $-300.00M USD 1 Quarter
Supplier Proceeds SupplierProceeds - USD 1 Quarter
Purchases of short-term investments PaymentsToAcquireShortTermInvestments $1.03B USD 1 Quarter
Purchases of short-term investments PaymentsToAcquireShortTermInvestments $251.00M USD 1 Quarter
Proceeds from sales of short-term and other investments ProceedsFromSaleOfShortTermInvestments $948.00M USD 1 Quarter
Proceeds from sales of short-term and other investments ProceedsFromSaleOfShortTermInvestments $575.00M USD 1 Quarter
Net cash provided by (used in) investing activities NetCashProvidedByUsedInInvestingActivities $-5.00M USD 1 Quarter
Net cash provided by (used in) investing activities NetCashProvidedByUsedInInvestingActivities $164.00M USD 1 Quarter
Proceeds from issuance of long-term debt ProceedsFromIssuanceOfDebt - USD 1 Quarter
Proceeds from issuance of long-term debt ProceedsFromIssuanceOfDebt $500.00M USD 1 Quarter
Proceeds from revolving credit facility ProceedsFromLinesOfCredit - USD 1 Quarter
Proceeds from revolving credit facility ProceedsFromLinesOfCredit $1.00B USD 1 Quarter
Proceeds from term loan credit facility ProceedsFromNotesPayable $1.00B USD 1 Quarter
Proceeds from term loan credit facility ProceedsFromNotesPayable - USD 1 Quarter
Proceeds from Employee stock plans ProceedsFromStockPlans $10.00M USD 1 Quarter
Proceeds from Employee stock plans ProceedsFromStockPlans $11.00M 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 $78.00M USD 1 Quarter
Payments of cash dividends PaymentsOfDividends $178.00M USD 1 Quarter
Payments of cash dividends PaymentsOfDividends $188.00M USD 1 Quarter
Repurchase of common stock PaymentsForRepurchaseOfCommonStock $500.00M USD 1 Quarter
Repurchase of common stock PaymentsForRepurchaseOfCommonStock $451.00M USD 1 Quarter
Other, net ProceedsFromPaymentsForOtherFinancingActivities $-20.00M USD 1 Quarter
Other, net ProceedsFromPaymentsForOtherFinancingActivities $-12.00M USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $1.77B USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $-779.00M USD 1 Quarter
NET CHANGE IN CASH AND CASH EQUIVALENTS CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $1.39B USD 1 Quarter
NET CHANGE IN CASH AND CASH EQUIVALENTS CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $490.00M USD 1 Quarter
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 $2.55B USD Point-in-time
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD CashAndCashEquivalentsAtCarryingValue $3.94B 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 $2.55B USD Point-in-time
CASH AND CASH EQUIVALENTS AT END OF PERIOD CashAndCashEquivalentsAtCarryingValue $3.94B USD Point-in-time
Interest, net of amount capitalized InterestPaidNet $15.00M USD 1 Quarter
Interest, net of amount capitalized InterestPaidNet $14.00M USD 1 Quarter
Income taxes IncomeTaxesPaid $4.00M USD 1 Quarter
Income taxes IncomeTaxesPaid $5.00M USD 1 Quarter
Right-of-use assets acquired under operating leases RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability $119.00M USD 1 Quarter
Right-of-use assets acquired under operating leases RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability $25.00M USD 1 Quarter
Right-of-use assets acquired under finance leases RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability $1.00M USD 1 Quarter
Right-of-use assets acquired under finance leases RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability - USD 1 Quarter
Assets constructed for others AssetsConstructedforOthersDuringPeriod $21.00M USD 1 Quarter
Assets constructed for others AssetsConstructedforOthersDuringPeriod $34.00M USD 1 Quarter
Stockholders Equity 21 line items
Line Item Tag Value Unit Period
Cash dividends, per share (in dollars per share) CommonStockDividendsPerShareCashPaid $0.16 USD 1 Quarter
Cash dividends, per share (in dollars per share) CommonStockDividendsPerShareCashPaid $0.18 USD 1 Quarter
Cumulative effect of new accounting standards NewAccountingPronouncementOrChangeInAccountingPrincipleCumulativeEffectOfChangeOnEquityOrNetAssets $55.00M USD Point-in-time
Balance at beginning of period StockholdersEquity $9.07B USD Point-in-time
Balance at beginning of period StockholdersEquity $9.83B USD Point-in-time
Balance at beginning of period StockholdersEquity $9.85B USD Point-in-time
Balance at beginning of period StockholdersEquity $9.79B USD Point-in-time
Repurchase of common stock TreasuryStockValueAcquiredCostMethod $451.00M 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 $2.00M 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 $9.00M USD 1 Quarter
Cash dividends DividendsCash $94.00M USD 1 Quarter
Cash dividends DividendsCash $89.00M USD 1 Quarter
Comprehensive income (loss) ComprehensiveIncomeNetOfTax $463.00M USD 1 Quarter
Comprehensive income (loss) ComprehensiveIncomeNetOfTax $-219.00M USD 1 Quarter
Balance at end of period StockholdersEquity $9.07B USD Point-in-time
Balance at end of period StockholdersEquity $9.83B USD Point-in-time
Balance at end of period StockholdersEquity $9.85B USD Point-in-time
Balance at end of period StockholdersEquity $9.79B USD Point-in-time

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

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