Southwest Airlines Company (LUV) financial statements (2020 and earlier)

Company profile

Business Address 2702 LOVE FIELD DR
DALLAS, TX 75235
State of Incorp. TX
Fiscal Year End December 31
SIC 4512 - Air Transportation, Scheduled (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments4,0723,6893,2733,3053,0512,9883,152
Cash and cash equivalents2,5481,8541,4951,6801,5831,2821,355
Short-term investments1,5241,8351,7781,6251,4681,7061,797
Receivables142     419
Inventory, net of allowances, customer advances and progress billings529459375280264296(36)
Inventory529459375280264296(36)
Other undisclosed current assets1,2318801,1679137091,120921
Total current assets:5,9745,0284,8154,4984,0244,4044,456
Noncurrent Assets
Operating lease, right-of-use asset1,349
Property, plant and equipment17,02519,52518,53917,04415,60114,29213,389
Long-term investments and receivables     3544
Long-term investments     3544
Intangible assets, net (including goodwill)9709709709709701,3331,136
Goodwill970970970970970970970
Intangible assets, net (excluding goodwill)     363166
Other noncurrent assets577720786774717534530
Other undisclosed noncurrent assets     (398)(210)
Total noncurrent assets:19,92121,21520,29518,78817,28815,79614,889
TOTAL ASSETS:25,89526,24325,11023,28621,31220,20019,345
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities3,3233,1653,0973,1633,7793,6322,622
Accounts payable1,5741,4161,3201,1781,1881,2031,247
Accrued liabilities1,7491,7491,7771,9852,5911,5651,229
Employee-related liabilities     701 
Taxes payable     163146
Debt819606348566637258629
Deferred compensation liability     374244
Deferred revenue and credits3,4603,1152,9902,8972,571
Deferred tax liabilities     65
Other undisclosed current liabilities4,8104,134   (1,238)(455)
Total current liabilities:8,9527,9056,9056,8447,4065,9235,676
Noncurrent Liabilities
Long-term debt and lease obligation, including:1,8462,7713,3202,8212,5412,4342,191
Finance lease, liability542
Capital lease obligations64670155732431150
Operating lease, liability978
Other undisclosed long-term debt and lease obligation3262,1252,6192,2642,2172,1232,141
Liabilities, other than long-term debt7063,0773,0654,1023,2504,8574,133
Pension and other postretirement defined benefit plans, liabilities138
Deferred compensation liability, classified     174 
Deferred tax liabilities, net2,4272,3583,3742,4903,2592,934
Liability, pension and other postretirement and postemployment benefits     169
Off-market lease, unfavorable      290
Other liabilities7066507077287601,255771
Total noncurrent liabilities:2,5525,8486,3856,9235,7917,2916,324
Total liabilities:11,50413,75313,29013,76713,19713,21412,000
Stockholders' equity
Stockholders' equity attributable to parent9,8329,85310,4308,4417,3586,7757,336
Common stock808808808808808808808
Treasury stock, value(10,441)(8,452)(6,462)(4,872)(3,182)(2,026)(1,131)
Additional paid in capital1,5811,5101,4511,4101,3741,3151,231
Accumulated other comprehensive income (loss)(61)2012(323)(1,051)(738)(3)
Retained earnings17,94515,96714,62111,4189,4097,4166,431
Total stockholders' equity:9,8329,85310,4308,4417,3586,7757,336
Other undisclosed liabilities and equity4,5592,6371,3901,0787572119
TOTAL LIABILITIES AND EQUITY:25,89526,24325,11023,28621,31220,20019,345

Income statement (P&L) ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Revenues22,42821,96521,17120,42519,82018,60517,699
Revenue, net21,17120,42519,64818,60517,699
Cost of revenue
(Cost of Goods and Services Sold)
(4,347)(161)(1,292)(229)(3,616)(6,699)(5,763)
Gross profit:18,08121,80419,87920,19616,20411,90611,936
Operating expenses(19,471)(18,759)(17,656)(16,665)(15,704)(16,380)(16,421)
Other undisclosed operating income4,3471611,2922293,6166,6995,763
Operating income:2,9573,2063,5153,7604,1162,2251,278
Nonoperating income (expense)82(42)(264)(213)(637)(409)(69)
Investment income, nonoperating90693524976
Other nonoperating income (expense)(8)(18)(234)(162)(556)(309)32
Interest and debt expense(118)(131)(114)(122)(121)(130)(131)
Other undisclosed income from continuing operations before equity method investments, income taxes36131114122121130131
Income from continuing operations before income taxes:2,9573,1643,2513,5473,4791,8161,209
Income tax expense (benefit)(657)(699)237(1,303)(1,298)(680)(455)
Net income available to common stockholders, basic:2,3002,4653,4882,2442,1811,136754
Interest on convertible debt   2443
Net income available to common stockholders, diluted:2,3002,4653,4882,2462,1851,140757

Comprehensive Income ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Net income:2,3002,4653,4882,2442,1811,136754
Other comprehensive income (loss)(81)26335728(313)(735)116
Comprehensive income, net of tax, attributable to parent:2,2192,4913,8232,9721,868401870

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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