← SOUTHWEST AIRLINES CO

Annual Trend FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
ASSETS
Current assets:
Accounts and other receivables $546.0m $662.0m $568.0m $1.1b $1.1b $1.4b $1.0b $1.2b $1.1b $1.1b
Cash and Cash Equivalents, at Carrying Value $1.7b $1.5b $1.9b $2.5b $11.1b $12.5b $9.5b $9.3b $7.5b $3.2b
Cash and cash equivalents $1.7b $1.5b $1.9b $2.5b $11.1b $12.5b $9.5b $9.3b $7.5b $3.2b
Inventories of parts and supplies, at cost $337.0m $420.0m $461.0m $529.0m $414.0m $537.0m $790.0m $807.0m $800.0m $775.0m
Prepaid Expense and Other Assets, Current $310.0m $460.0m $310.0m $287.0m $295.0m $638.0m $686.0m $520.0m $639.0m $490.0m
Prepaid expenses and other current assets $310.0m $460.0m $310.0m $287.0m $295.0m $638.0m $686.0m $520.0m $639.0m $490.0m
Short-term Investments $1.6b $1.8b $1.8b $1.5b $2.3b $3.0b $2.8b $2.2b $1.2b $0
Assets, Current $4.5b $4.8b $5.0b $6.0b $15.2b $18.0b $14.8b $14.0b $11.3b $5.6b
Total current assets $4.5b $4.8b $5.0b $6.0b $15.2b $18.0b $14.8b $14.0b $11.3b $5.6b
Property, Plant and Equipment, Net $17.0b $18.5b $19.5b $17.0b $15.8b $14.8b $17.3b $19.4b $19.1b $20.2b
Goodwill $970.0m $970.0m $970.0m $970.0m $970.0m $970.0m $970.0m $970.0m $970.0m $970.0m
Intangible Assets, Net (Excluding Goodwill) $426.0m $413.0m $400.0m $296.0m $295.0m $295.0m $296.0m $296.0m $300.0m $296.0m
Operating Lease, Right-of-Use Asset — — $0 $1.3b $1.9b $1.6b $1.4b $1.2b $1.4b $1.1b
Operating lease right-of-use assets — — $0 $1.3b $1.9b $1.6b $1.4b $1.2b $1.4b $1.1b
Other Assets, Noncurrent $774.0m $786.0m $720.0m $577.0m — $882.0m $855.0m $964.0m $1.1b $1.1b
Other assets $774.0m $786.0m $720.0m $577.0m $722.0m $882.0m $855.0m $964.0m $1.1b $1.1b
Additional Financial Items
Accounts Receivable, after Allowance for Credit Loss, Current — — — — — — — — — $98.0m
Accrued Liabilities, Current $2.0b $1.8b $1.7b $1.7b $2.3b $1.6b $2.0b $3.6b $2.2b $2.3b
Air traffic liability $3.1b $3.5b $4.1b $4.5b $3.8b $5.6b $6.1b $6.6b $6.3b $5.9b
Air traffic liability - noncurrent — — — $1.1b $3.3b $2.2b $2.2b $1.7b $1.9b $1.2b
Assets constructed for others $1.2b $1.5b $1.8b $164.0m $309.0m $6.0m $28.0m $62.0m $88.0m $88.0m
Capital in excess of par value $1.4b $1.5b $1.5b $1.6b $4.2b $4.2b $4.0b $4.2b $4.2b $4.3b
Current operating lease liabilities — — $0 $353.0m $306.0m $239.0m $225.0m $208.0m $328.0m $312.0m
Deferred income taxes $3.4b $2.4b $2.4b $2.4b $1.6b $1.8b $2.0b $2.0b $2.2b $2.3b
Deposits on flight equipment purchase contracts $1.2b $919.0m $775.0m $248.0m $305.0m $0 $376.0m $236.0m $413.0m $401.0m
Flight equipment $20.3b $21.4b $21.8b $21.6b $20.9b $21.2b $23.7b $26.1b $25.2b $26.3b
Less allowance for depreciation and amortization $9.4b $9.7b $9.7b $10.7b $11.7b $12.7b $13.6b $14.4b $14.9b $15.7b
Noncurrent operating lease liabilities — — $0 $978.0m $1.6b $1.3b $1.1b $985.0m $1.0b $768.0m
Assets $23.3b $25.1b $26.2b $25.9b $34.6b $36.3b $35.4b $36.5b $33.8b $29.1b
Total assets $23.3b $25.1b $26.2b $25.9b $34.6b $36.3b $35.4b $36.5b $33.8b $29.1b
LIABILITIES AND EQUITY
Total liabilities and stockholders' equity $23.3b $25.1b $26.2b $25.9b $34.6b $36.3b $35.4b $36.5b $33.8b $29.1b
Current liabilities:
Accounts Payable, Current $1.2b $1.3b $1.4b $1.6b $931.0m $1.3b $2.0b $1.9b $1.8b $2.0b
Current maturities of long-term debt $566.0m $348.0m $606.0m $819.0m $220.0m $453.0m $42.0m $29.0m $1.6b $324.0m
Dividends Payable — — — — $0 — $107.0m $107.0m $107.0m $93.0m
Long-term debt less current maturities $2.8b $3.3b $2.8b $1.8b $10.1b $10.3b $8.0b $8.0b $5.1b $4.6b
Operating Lease, Liability, Current — — $0 $353.0m $306.0m $239.0m $225.0m $208.0m $328.0m $312.0m
Operating Lease, Liability, Noncurrent — — $0 $978.0m $1.6b $1.3b $1.1b $985.0m $1.0b $768.0m
Liabilities, Current $6.8b $6.9b $7.9b $9.0b $7.5b $9.2b $10.4b $12.3b $12.3b $10.9b
Total current liabilities $6.8b $6.9b $7.9b $9.0b $7.5b $9.2b $10.4b $12.3b $12.3b $10.9b
Deferred Income Tax Liabilities, Net — — — — $1.6b $1.8b $2.0b $2.0b $2.2b $2.3b
Long Term Debt — — — — — — $8.1b $8.0b $6.7b $4.9b
Other Liabilities, Noncurrent $728.0m $707.0m $650.0m $706.0m $1.2b $1.2b $969.0m $981.0m $909.0m $1.3b
Other noncurrent liabilities $728.0m $707.0m $650.0m $706.0m $1.2b $1.2b $969.0m $981.0m $909.0m $1.3b
Deferred Tax Liabilities, Net $3.4b $2.4b $2.4b $2.4b $1.6b $1.8b $2.0b $2.0b $2.2b $2.3b
Stockholders’ equity:
Accumulated Other Comprehensive Income (Loss), Net of Tax ($323.0m) $12.0m $20.0m ($61.0m) ($105.0m) $388.0m $344.0m $0 ($25.0m) ($24.0m)
Accumulated other comprehensive loss ($323.0m) $12.0m $20.0m ($61.0m) ($105.0m) $388.0m $344.0m $0 ($25.0m) ($24.0m)
Additional Paid in Capital, Common Stock $1.4b $1.5b $1.5b $1.6b $4.2b $4.2b $4.0b $4.2b $4.2b $4.3b
Common Stock, Value, Issued $808.0m $808.0m $808.0m $808.0m $888.0m $888.0m $888.0m $888.0m $888.0m $888.0m
Common stock, $1.00 par value: 2,000,000,000 shares authorized; 888,111,634 shares issued in 2025 and 2024 $808.0m $808.0m $808.0m $808.0m $888.0m $888.0m $888.0m $888.0m $888.0m $888.0m
Retained Earnings (Accumulated Deficit) $11.4b $14.6b $16.0b $17.9b $14.8b $15.8b $16.3b $16.3b $16.3b $16.4b
Treasury Stock, Common, Value $808.0m $808.0m $808.0m $808.0m $888.0m $888.0m $888.0m $10.8b $11.0b $13.6b
Treasury stock, at cost: 372,530,238 and 294,797,959 shares in 2025 and 2024, respectively — — — — — — ($10.8b) ($10.8b) ($11.0b) ($13.6b)
Stockholders' Equity Attributable to Parent $8.4b $10.4b $9.9b $9.8b $8.9b $10.4b $10.7b $10.5b $10.3b $8.0b
Total stockholders' equity $8.4b $10.4b $9.9b $9.8b $8.9b $10.4b $10.7b $10.5b $10.3b $8.0b
Liabilities and Equity $23.3b $25.1b $26.2b $25.9b $34.6b $36.3b $35.4b $36.5b $33.8b $29.1b

Data sourced from SEC EDGAR 10-K filings via EdgarTools. Amounts are shown in USD as reported in each fiscal year filing.

Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.