Southwest Airlines Co
All units in Millions or Millions USD 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018* 2019 2020
Income Statement                                          
Passenger Revenue 5,468 5,379 5,341 5,741 6,280 7,279 8,750 9,457 10,549 9,892 11,489 14,735 16,093 16,721 17,658 18,299 18,594 19,141 20,455 20,776 7,665
Regional Affiliate Revenue
Total Revenue 5,650 5,555 5,522 5,937 6,530 7,584 9,086 9,861 11,023 10,350 12,104 15,658 17,088 17,699 18,605 19,820 20,425 21,171 21,965 22,428 22,428
Wages Salaries & Benefits 1,684 1,856 1,993 2,224 2,578 2,782 3,052 3,213 3,340 3,468 3,704 4,371 4,749 5,035 5,434 6,383 6,798 7,319 7,649 8,293 6,811
Aircraft Fuel Expense 804 771 762 830 1,000 1,341 2,138 2,536 3,713 3,044 3,620 5,644 355 5,763 5,293 3,616 3,647 3,940 4,616 4,347 1,849
Depreciation & Amortization 281 318 356 384 431 469 515 555 599 616 628 715 844 867 938 1,015 1,221 1,218 1,201 1,219 1,255
Net Interest Expense 30 27 69 67 67 75 44 75 104 173 155 184 140 125 123 112 98 79 62 28 317
Operating Expense 4,628 4,924 5,181 5,558 6,126 6,859 8,152 9,070 10,574 10,088 11,116 14,965 16,465 16,421 16,380 15,704 16,665 17,656 18,759 19,471 12,864
Operating Income (Loss) 1,022 631 341 379 404 725 934 791 449 262 988 693 623 1,278 2,225 4,116 3,760 3,515 3,206 2,957 (3,816)
Pretax Income (Loss) 1,018 828 317 604 339 779 790 1,058 278 164 745 323 685 1,209 1,816 3,479 3,547 3,251 3,164 2,957 (4,256)
Net Income (Loss) 626 511 188 372 215 484 499 645 178 99 459 178 421 754 1,136 2,181 2,244 3,488 2,465 2,300 (3,074)
Balance Sheet Asset                                          
Cash & Short-term Investment 523 2,279 1,815 1,865 1,305 2,531 1,759 2,779 1,803 2,593 3,538 3,144 2,970 3,152 2,988 3,051 3,305 3,273 3,689 4,072 13,334
Restricted Cash & Short-term Investments
Total Current Assets 832 2,520 2,232 2,313 2,172 3,620 2,601 4,443 2,893 3,358 4,279 4,345 4,227 4,456 4,404 4,024 4,498 4,815 5,028 5,974 15,173
Total Assets 6,670 8,997 8,766 9,693 11,137 14,003 13,460 16,772 14,308 14,269 15,463 18,068 18,596 19,345 20,200 21,312 23,286 25,110 26,243 25,895 34,588
Balance Sheet Liabilities                                          
Air Traffic Liability 377 450 412 462 529 649 799 931 963 1,044 1,198 1,836 2,170 2,571 2,897 2,990 3,115 3,460 4,134 4,457 3,790
Current Liability 1,298 2,239 1,434 1,723 2,142 3,848 2,887 4,838 2,806 2,676 3,305 4,533 4,650 5,676 5,923 7,406 6,844 6,905 7,905 8,952 7,506
Long-term Debt & Capital Lease Obligations, Less Current Maturities 761 1,327 1,553 1,332 1,700 1,394 1,567 2,050 3,498 3,325 2,875 3,107 2,883 2,191 2,434 2,541 2,821 3,320 2,771 1,846 3,343
Pension & Post Retirement Benefits
Retained Earnings (Accumulated deficit) 2,902 3,228 3,455 3,883 4,089 4,018 4,307 4,788 4,919 4,983 5,399 5,395 5,768 6,431 7,416 9,409 11,418 14,621 15,967 17,945 14,777
Total Stockholder Equity (deficit) 3,451 4,014 4,374 5,029 5,527 6,675 6,449 6,941 4,953 5,466 6,237 6,877 6,992 7,336 6,775 7,358 8,441 10,430 9,853 9,832 8,876
Cash Flow Statement                                          
Net Cash Provided by (Used in) Operating Activity 1,298 1,485 520 1,336 1,066 2,118 1,406 2,845 (1,521) 985 1,561 1,385 2,064 2,477 2,902 3,238 4,293 3,929 4,893 3,987 (1,127)
Net Cash Provided by (Used in) Investing Activities (1,135) (998) (603) (1,619) (1,658) (1,146) (1,495) (1,529) (978) (1,569) (1,265) (1,051) (803) (1,384) (1,727) (1,913) (2,272) (2,408) (2,038) (303) (16)
Net Cash Provided by (Used in) Financing activities (59) 1,270 (382) (48) 156 260 (801) (493) 1,654 330 (149) (766) (947) (851) (1,248) (1,024) (1,924) (1,706) (2,496) (2,990) 9,658
Payments on Long-term Debt and Capital Lease Obligation (10) (111) (65) (130) (207) (149) (607) (122) (55) (86) (155) (557) (578) (313) (561) (213) (523) (592) (342) (615) (839)
Proceeds from Issuance of Long-term Debt 0 614 385 0 520 300 300 500 1,000 455 0 0 0 0 300 500 515 600 0 0 5,622
Net Increase (Decrease) in Cash 104 1,757 (465) (331) (436) 1,232 (890) 823 (845) (254) 147 (432) 284 242 (73) 301 97 (185) 359 694 8,515
Operating Statistics                                          
Regional Passengers
Regional ASM
Regional RPM
Mainline Passengers (0) 64 63 66 71 78 84 89 89 86 88 104 109 108 110 118 125 130 133 131 54
Mainline ASM 59,910 65,295 68,887 71,790 76,861 85,173 92,663 99,636 103,271 98,002 98,437 120,579 128,137 130,344 131,004 140,501 148,522 153,811 159,795 157,254 103,456
Mainline RPM 42,215 44,494 45,392 47,943 53,418 60,223 67,691 72,319 73,492 74,457 78,047 97,583 102,875 104,348 108,035 117,500 124,798 129,041 133,322 131,345 54,221
Data Source:SEC 10K Filings
*Note: In 2018, many airlines changed their accounting principles to conform to new standards, which lead to some significant changes in the numbers reported compared to previous years. For the sake of clarity, many airlines provided recast 2017 results in their 10-K reports that can be found in SECís EDGAR tool.