SOUTHWEST AIRLINES CO. LUV Income Statement

Southwest airlines co. (LUV)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Dec'09	Sep'09	Jun'09	Mar'09	Dec'08	Sep'08	Jun'08	Mar'08
OPERATING REVENUE:
Operating Revenue
4,234	5,731	5,639	5,909	5,149	5,704	5,575	5,742	4,944	5,258	5,303	5,731	4,854	4,940	5,139	5,384	4,826	4,977	5,318	5,111	4,414	4,628	4,800	5,011	4,166	4,427	4,545	4,643	4,084	4,172	4,309	4,616	3,991	4,108	4,311	4,136	3,103	6,281	3,192	0	2,630	2,711	2,666	2,616	2,357	2,733	2,891	2,869	2,530
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	172	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
OPERATING EXPENSES:
Salaries, wages, and benefits
1,854	2,247	2,002	2,068	1,976	1,989	1,912	1,927	1,821	1,921	1,791	1,863	1,730	1,699	1,909	1,639	1,539	1,658	1,699	1,607	1,419	1,390	1,363	1,406	1,275	1,283	1,271	1,298	1,183	1,197	1,189	1,222	1,141	1,146	1,146	1,125	954	1,901	938	0	864	2,532	909	863	-836	845	856	839	800
Fuel and oil
870	1,106	1,090	1,136	1,015	1,191	1,205	1,202	1,018	1,059	1,037	1,024	956	1,105	941	903	852	798	936	1,005	877	1,168	1,386	1,425	1,314	1,367	1,450	1,489	1,457	1,505	1,528	1,577	1,510	1,493	1,586	1,527	1,038	1,872	926	0	821	2,190	826	726	-698	917	1,051	945	800
Aircraft rentals
-	-	-	-	-	-	-	-	-	-	-	-	-	-	56	59	59	59	60	59	60	68	71	75	81	84	92	92	93	85	92	90	88	93	90	79	46	90	43	0	47	137	47	47	-45	40	38	38	38
Landing fees and airport rentals
339	328	345	357	333	323	337	344	330	323	324	332	313	293	307	309	302	279	303	299	285	261	289	295	266	255	290	292	266	251	278	260	254	254	257	247	201	406	210	0	190	513	192	179	-166	165	167	159	171
Maintenance materials and repairs
272	307	313	310	293	293	283	274	257	244	263	251	243	245	258	280	262	277	259	240	229	244	248	236	250	237	271	281	291	269	300	291	272	238	272	246	199	388	196	0	166	529	184	190	-184	197	190	191	143
Depreciation and amortization
311	312	308	302	297	331	301	292	277	279	302	319	318	317	315	299	290	263	258	250	244	251	238	228	221	223	221	213	210	224	217	202	201	193	191	176	155	312	161	0	154	454	162	150	-150	154	152	148	145
Acquisition and integration
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	7	6	3	23	47	23	38	18	19	28	26	13	14	145	11	13	37	22	58	17	-	1	0	-	-	-	-	-	-	-	-	-
Other operating expenses
698	766	762	768	730	757	739	731	625	691	741	727	688	848	658	619	578	610	572	563	497	578	568	533	526	574	532	519	501	537	509	503	490	507	522	471	379	721	362	0	334	1,003	324	338	-328	345	351	344	345
Operating Costs and Expenses
4,344	5,066	4,820	4,941	4,644	4,884	4,777	4,770	4,328	4,517	4,458	4,516	4,248	4,333	4,444	4,108	3,882	3,951	4,093	4,026	3,634	4,007	4,186	4,236	3,951	4,042	4,155	4,210	4,014	4,082	4,258	4,156	3,969	3,961	4,086	3,929	2,989	5,702	2,837	0	2,576	2,544	2,644	2,493	2,407	2,663	2,805	2,664	2,442
OPERATING INCOME (LOSS)
-110	665	819	968	505	820	798	972	616	741	845	1,215	606	607	695	1,276	944	1,026	1,225	1,085	780	621	614	775	215	385	390	433	70	90	51	460	22	147	225	207	114	578	355	0	54	167	22	123	-50	70	86	205	88
OTHER EXPENSES (INCOME):
Interest expense
28	26	30	31	31	33	33	33	32	30	28	27	29	29	31	32	30	29	31	29	32	32	31	34	33	34	35	33	29	34	35	38	40	50	50	51	43	83	43	0	41	135	48	47	-44	35	35	32	28
Capitalized interest
5	8	10	9	9	9	9	10	10	10	15	13	11	13	12	11	11	9	9	7	6	4	6	6	7	7	4	8	5	37	-5	-6	-5	-4	-3	-2	-3	-8	-5	-0	-5	-17	-5	-5	6	-5	-6	-6	-8
Interest income
17	20	23	24	23	22	20	15	12	11	9	8	7	7	6	6	5	4	2	2	1	1	2	2	2	1	1	2	2	1	2	2	2	2	1	4	3	13	2	0	-3	15	-3	-3	4	-7	-7	-5	-7
Other Nonoperating Income (Expense)
-28	-1	-3	-2	-2	-18	-8	4	4	-122	-9	-44	63	114	-64	43	-114	-164	-272	-88	-32	-293	-66	-3	53	-26	59	-47	46	63	10	-62	170	153	-405	113	-59	-122	13	-0	4	98	2	-23	-23	130	269	-345	38
Total other expenses (income)
-34	1	0	0	-1	-4	-12	-12	-14	-5	-13	-50	-74	105	-77	28	-128	-180	-292	-108	-57	-320	-89	-29	29	-52	29	-70	24	35	-18	-92	137	109	-451	68	-96	-256	-23	-0	37	-99	42	16	-57	153	291	-324	51
INCOME (LOSS) BEFORE INCOME TAXES
-144	666	819	968	504	816	786	960	602	736	832	1,165	532	712	618	1,304	816	846	933	977	723	301	525	746	244	333	419	363	94	125	33	368	159	256	-226	275	18	395	332	0	17	184	-20	107	-107	-83	-205	529	37
Income Tax Expense (Benefit)
-50	153	160	227	117	162	171	227	139	-1,011	304	422	193	250	230	484	303	310	349	369	270	111	196	281	92	121	160	139	35	46	17	140	61	104	-86	114	13	152	127	0	6	69	-4	16	-16	-26	-85	208	3
NET INCOME (LOSS)
-94	513	659	741	387	654	615	733	463	1,747	528	743	339	462	388	820	513	536	584	608	453	190	329	465	152	212	259	224	59	79	16	228	98	152	-140	161	5	242	205	0	11	115	-16	91	-91	-57	-120	321	34
NET INCOME (LOSS) PER SHARE, BASIC
-0.18	0.97	1.24	1.37	0.70	1.16	1.08	1.27	0.79	2.92	0.88	1.23	0.55	-	0.63	1.30	0.80	0.83	0.89	0.91	0.67	0.28	0.48	0.67	0.22	0.30	0.37	0.31	0.08	0.11	0.02	0.30	0.13	0.19	-0.18	0.21	0.01	0.19	0.27	0.15	0.01	0.15	-0.02	0.12	-0.12	-0.09	-0.16	0.44	0.05
NET INCOME (LOSS) PER SHARE, DILUTED
-0.18	0.97	1.23	1.37	0.70	1.15	1.08	1.27	0.79	2.91	0.88	1.23	0.55	-	0.62	1.28	0.79	0.83	0.88	0.90	0.66	0.27	0.48	0.67	0.22	0.29	0.37	0.31	0.08	0.11	0.02	0.30	0.13	0.19	-0.18	0.21	0.01	0.18	0.27	0.15	0.01	0.15	-0.02	0.12	-0.12	-0.09	-0.16	0.44	0.05
COMPREHENSIVE INCOME (LOSS)
-219	-	566	675	463	-	729	953	547	-	655	792	350	-	517	1,086	670	-	345	686	449	-	126	588	143	-	393	87	67	-	211	-35	265	-	-546	-25	346	-	-	-	-	-	-	-	-	-	-	-	-
BASIC WEIGHTED AVERAGE SHARES OUTSTANDING
Basic
515	-	533	542	551	-	569	578	587	-	597	604	613	-	618	632	641	-	655	665	674	-	683	690	698	-	703	714	725	-	739	757	771	-	792	780	748	1,494	746	0	743	-	742	741	740	-	0	0	733
DILUTED WEIGHTED AVERAGE SHARES OUTSTANDING
Diluted
515	-	534	542	552	-	569	579	588	-	598	605	614	-	625	639	648	-	663	673	682	-	691	698	707	-	711	722	727	-	740	764	772	-	792	787	749	1,496	747	0	744	-	742	741	740	-	0	0	734
Cash dividends declared per common share
-	-	-	-	-	-	-	-	-	-	0.12	0.12	0.10	-	0.10	0.10	0.07	0.07	0.07	0.07	0.06	0.06	0.06	0.06	0.04	0.04	0.04	0.04	0.01	0.01	0.01	0.01	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00	-	-	-	-	-	-
Passenger
Operating Revenue
3,845	5,314	5,230	5,487	4,745	5,318	5,194	5,358	4,585	4,894	4,944	5,379	4,546	5,096	4,669	4,905	4,398	4,553	4,716	4,852	4,178	4,409	4,564	4,752	3,933	4,197	4,306	4,380	3,838	3,938	4,057	4,347	3,751	3,879	4,034	3,892	2,949	5,961	3,032	0	2,495	2,584	2,550	2,506	2,252	2,621	2,767	2,747	2,414
Freight
Operating Revenue
39	44	42	44	42	46	43	44	42	45	42	44	42	42	42	45	42	45	44	46	44	46	45	44	40	41	41	43	39	42	39	42	37	37	35	36	31	64	31	0	30	31	28	29	30	37	37	37	34
Other
Operating Revenue
350	373	367	378	362	340	338	340	317	319	317	308	266	-198	428	434	386	379	386	213	192	173	191	215	193	189	198	220	207	192	213	227	203	192	242	208	123	255	129	0	105	96	88	81	75	75	87	85	82