Southwest Airlines Company (LUV) financial statements (2021 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)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments13,3344,0723,6893,2733,3053,0512,988
Cash and cash equivalents11,0632,5481,8541,4951,6801,5831,282
Short-term investments2,2711,5241,8351,7781,6251,4681,706
Receivables775142     
Inventory, net of allowances, customer advances and progress billings414529459375280264296
Inventory414529459375280264296
Other undisclosed current assets6501,2318801,1679137091,120
Total current assets:15,1735,9745,0284,8154,4984,0244,404
Noncurrent Assets
Operating lease, right-of-use asset1,8921,349
Property, plant and equipment15,83117,02519,52518,53917,04415,60114,292
Long-term investments and receivables      35
Long-term investments      35
Intangible assets, net (including goodwill)9709709709709709701,333
Goodwill970970970970970970970
Intangible assets, net (excluding goodwill)      363
Other noncurrent assets 577720786774717534
Other undisclosed noncurrent assets722     (398)
Total noncurrent assets:19,41519,92121,21520,29518,78817,28815,796
TOTAL ASSETS:34,58825,89526,24325,11023,28621,31220,200
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities3,1903,3233,1653,0973,1633,7793,632
Accounts payable9311,5741,4161,3201,1781,1881,203
Accrued liabilities2,2591,7491,7491,7771,9852,5911,565
Employee-related liabilities      701
Taxes payable      163
Deferred revenue3,790 
Debt220819606348566637258
Deferred compensation liability      374
Deferred revenue and credits3,4603,1152,9902,897
Other undisclosed current liabilities3064,8104,134   (1,238)
Total current liabilities:7,5068,9527,9056,9056,8447,4065,923
Noncurrent Liabilities
Long-term debt and lease obligation, including:10,1111,8462,7713,3202,8212,5412,434
Finance lease, liability459542
Capital lease obligations646701557324311
Operating lease, liability1,562978
Other undisclosed long-term debt and lease obligation8,0903262,1252,6192,2642,2172,123
Liabilities, other than long-term debt6,2247063,0773,0654,1023,2504,857
Deferred revenue3,343 
Deferred compensation liability, classified      174
Deferred tax liabilities, net2,4272,3583,3742,4903,259
Deferred income tax liabilities1,634 
Liability, pension and other postretirement and postemployment benefits      169
Other liabilities1,2477066507077287601,255
Total noncurrent liabilities:16,3352,5525,8486,3856,9235,7917,291
Total liabilities:23,84111,50413,75313,29013,76713,19713,214
Stockholders' equity
Stockholders' equity attributable to parent8,8769,8329,85310,4308,4417,3586,775
Common stock888808808808808808808
Treasury stock, value(10,875)(10,441)(8,452)(6,462)(4,872)(3,182)(2,026)
Additional paid in capital4,1911,5811,5101,4511,4101,3741,315
Accumulated other comprehensive income (loss)(105)(61)2012(323)(1,051)(738)
Retained earnings14,77717,94515,96714,62111,4189,4097,416
Total stockholders' equity:8,8769,8329,85310,4308,4417,3586,775
Other undisclosed liabilities and equity1,8714,5592,6371,3901,078757211
TOTAL LIABILITIES AND EQUITY:34,58825,89526,24325,11023,28621,31220,200

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

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Revenues9,04822,42821,96521,17120,42519,82018,605
Revenue, net21,17120,42519,64818,605
Cost of revenue
(Cost of Goods and Services Sold)
(1,240)(4,347)(161)(1,292)(229)(3,616)(6,699)
Gross profit:7,80818,08121,80419,87920,19616,20411,906
Operating expenses(12,864)(19,471)(18,759)(17,656)(16,665)(15,704)(16,380)
Other undisclosed operating income1,2404,3471611,2922293,6166,699
Operating income (loss):(3,816)2,9573,2063,5153,7604,1162,225
Nonoperating income (expense)(440)82(42)(264)(213)(637)(409)
Investment income, nonoperating329069352497
Other nonoperating expense(158)(8)(18)(234)(162)(556)(309)
Interest and debt expense(5)(118)(131)(114)(122)(121)(130)
Other undisclosed income from continuing operations before equity method investments, income taxes536131114122121130
Income (loss) from continuing operations before income taxes:(4,256)2,9573,1643,2513,5473,4791,816
Income tax expense (benefit)1,182(657)(699)237(1,303)(1,298)(680)
Net income (loss) available to common stockholders, basic:(3,074)2,3002,4653,4882,2442,1811,136
Interest on convertible debt    244
Net income (loss) available to common stockholders, diluted:(3,074)2,3002,4653,4882,2462,1851,140

Comprehensive Income ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Net income (loss):(3,074)2,3002,4653,4882,2442,1811,136
Other comprehensive income (loss)(44)(81)26335728(313)(735)
Comprehensive income (loss), net of tax, attributable to parent:(3,118)2,2192,4913,8232,9721,868401

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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