2013 Q4 Form 10-K Financial Statement

#000009238014000010 Filed on February 04, 2014

View on sec.gov

Income Statement

Concept 2013 Q4 2013 2012 Q4
Revenue $4.428B $17.70B $4.173B
YoY Change 6.11% 3.58% 1.58%
Cost Of Revenue $1.706B $7.227B $1.842B
YoY Change -7.38% -3.87% 0.11%
Gross Profit $2.722B $10.47B $2.331B
YoY Change 16.77% 9.43% 2.78%
Gross Profit Margin 61.47% 59.17% 55.86%
Selling, General & Admin $1.522B $6.115B $1.467B
YoY Change 3.75% 3.98% 6.0%
% of Gross Profit 55.91% 58.39% 62.93%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $224.0M $867.0M $224.0M
YoY Change 0.0% 2.73% 16.67%
% of Gross Profit 8.23% 8.28% 9.61%
Operating Expenses $2.317B $16.42B $2.225B
YoY Change 4.13% -0.27% 6.77%
Operating Profit $386.0M $1.278B $91.00M
YoY Change 324.18% 105.14% -38.1%
Interest Expense -$81.00M -$69.00M $34.00M
YoY Change -338.24% -211.29% -68.81%
% of Operating Profit -20.98% -5.4% 37.36%
Other Income/Expense, Net $29.00M -$69.00M
YoY Change -211.29%
Pretax Income $334.0M $1.209B $125.0M
YoY Change 167.2% 76.5% -50.98%
Income Tax $121.0M $455.0M $47.00M
% Of Pretax Income 36.23% 37.63% 37.6%
Net Earnings $212.0M $754.0M $78.00M
YoY Change 171.79% 79.1% -48.68%
Net Earnings / Revenue 4.79% 4.26% 1.87%
Basic Earnings Per Share $0.30 $1.06 $0.11
Diluted Earnings Per Share $0.30 $1.05 $0.11
COMMON SHARES
Basic Shares Outstanding 696.7M shares 710.0M shares 728.1M shares
Diluted Shares Outstanding 718.0M shares

Balance Sheet

Concept 2013 Q4 2013 2012 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.152B $3.152B $2.970B
YoY Change 6.13% 6.13% -5.53%
Cash & Equivalents $1.355B $1.355B $1.113B
Short-Term Investments $1.797B $1.797B $1.857B
Other Short-Term Assets $418.0M $418.0M $456.0M
YoY Change -8.33% -8.33% -8.98%
Inventory $467.0M $467.0M $469.0M
Prepaid Expenses
Receivables $419.0M $419.0M $332.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $4.456B $4.456B $4.227B
YoY Change 5.42% 5.42% -2.72%
LONG-TERM ASSETS
Property, Plant & Equipment $13.39B $13.39B $12.77B
YoY Change 4.88% 4.88% 5.27%
Goodwill $970.0M $970.0M
YoY Change 0.0% 0.0%
Intangibles $166.0M
YoY Change
Long-Term Investments
YoY Change
Other Assets $530.0M $320.0M $633.0M
YoY Change -16.27% -29.52% 1.12%
Total Long-Term Assets $14.89B $14.89B $14.37B
YoY Change 3.62% 3.62% 4.71%
TOTAL ASSETS
Total Short-Term Assets $4.456B $4.456B $4.227B
Total Long-Term Assets $14.89B $14.89B $14.37B
Total Assets $19.35B $19.35B $18.60B
YoY Change 4.03% 4.03% 2.92%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.247B $1.247B $1.107B
YoY Change 12.65% 12.65% 4.73%
Accrued Expenses $1.229B $1.217B $1.102B
YoY Change 11.52% 15.68% 10.64%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $629.0M $629.0M $271.0M
YoY Change 132.1% 132.1% -57.92%
Total Short-Term Liabilities $5.676B $5.676B $4.650B
YoY Change 22.06% 22.06% 2.58%
LONG-TERM LIABILITIES
Long-Term Debt $2.191B $2.481B $2.883B
YoY Change -24.0% -23.87% -7.21%
Other Long-Term Liabilities $771.0M $918.0M $856.0M
YoY Change -9.93% 13.19% -5.93%
Total Long-Term Liabilities $771.0M $3.399B $3.739B
YoY Change -79.38% -16.49% -6.92%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.676B $5.676B $4.650B
Total Long-Term Liabilities $771.0M $3.399B $3.739B
Total Liabilities $6.447B $12.01B $8.389B
YoY Change -23.15% 3.49% -1.88%
SHAREHOLDERS EQUITY
Retained Earnings $6.431B $5.768B
YoY Change 11.49% 6.91%
Common Stock $2.039B $2.018B
YoY Change 1.04% -0.59%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.131B $675.0M
YoY Change 67.56% 108.33%
Treasury Stock Shares 107.1M shares 77.29M shares
Shareholders Equity $7.336B $7.336B $6.992B
YoY Change
Total Liabilities & Shareholders Equity $19.35B $19.35B $18.60B
YoY Change 4.03% 4.03% 2.92%

Cashflow Statement

Concept 2013 Q4 2013 2012 Q4
OPERATING ACTIVITIES
Net Income $212.0M $754.0M $78.00M
YoY Change 171.79% 79.1% -48.68%
Depreciation, Depletion And Amortization $224.0M $867.0M $224.0M
YoY Change 0.0% 2.73% 16.67%
Cash From Operating Activities $289.0M $2.477B $231.0M
YoY Change 25.11% 20.01% -37.74%
INVESTING ACTIVITIES
Capital Expenditures -$452.0M $1.447B -$399.0M
YoY Change 13.28% 7.34% -5.0%
Acquisitions $0.00
YoY Change
Other Investing Activities $198.0M $0.00 $210.0M
YoY Change -5.71% -40.85%
Cash From Investing Activities -$254.0M -$1.384B -$189.0M
YoY Change 34.39% 66.15% 190.77%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $540.0M
YoY Change 35.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -13.00M -$851.0M -97.00M
YoY Change -86.6% -10.14% -80.32%
NET CHANGE
Cash From Operating Activities 289.0M $2.477B 231.0M
Cash From Investing Activities -254.0M -$1.384B -189.0M
Cash From Financing Activities -13.00M -$851.0M -97.00M
Net Change In Cash 22.00M $242.0M -55.00M
YoY Change -140.0% -14.79% -70.59%
FREE CASH FLOW
Cash From Operating Activities $289.0M $2.477B $231.0M
Capital Expenditures -$452.0M $1.447B -$399.0M
Free Cash Flow $741.0M $1.030B $630.0M
YoY Change 17.62% 43.85% -20.35%

Facts In Submission

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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-indent:16px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Concentration risk</font></div><div style="line-height:120%;text-indent:16px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:41px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Approximately </font><font style="font-family:Times New Roman;font-size:11pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">83 percent</font><font style="font-family:inherit;font-size:11pt;"> of the Company&#8217;s full-time equivalent Employees are unionized and are covered by collective bargaining agreements. The Company manages this risk by maintaining positive relationships with its Employees and its Employees&#8217; Representatives. Substantially all of the Company's unionized Employees, including its Pilots, Mechanics, Customer Service Agents and Customer Representatives, Ramp, Operations, Provisioning, and Freight Agents, Flight Attendants, Materials Specialists, Flight Simulator Technicians, and Facilities Maintenance Technicians are in discussions on labor agreements. These Employee groups represent approximately </font><font style="font-family:Times New Roman;font-size:11pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">82 percent</font><font style="font-family:inherit;font-size:11pt;"> of the Company&#8217;s full-time equivalent Employees as of </font><font style="font-family:Times New Roman;font-size:11pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">December&#160;31, 2013</font><font style="font-family:inherit;font-size:11pt;">. </font></div><div style="line-height:120%;text-align:justify;text-indent:41px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:41px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">The Company attempts to minimize its concentration risk with regards to its cash, cash equivalents, and its investment portfolio. This is accomplished by diversifying and limiting amounts among different counterparties, the type of investment, and the amount invested in any individual security or money market fund.</font></div><div style="line-height:120%;text-align:justify;text-indent:41px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:41px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">To manage risk associated with financial derivative instruments held, the Company selects and will periodically review counterparties based on credit ratings, limits its exposure to a single counterparty, and monitors the market position of the program and its relative market position with each counterparty. The Company also has agreements with counterparties containing early termination rights and/or bilateral collateral provisions whereby security is required if market risk exposure exceeds a specified threshold amount or credit ratings fall below certain levels. Collateral deposits provided to or held from counterparties serve to decrease, but not totally eliminate, the credit risk associated with the Company&#8217;s hedging program. See </font><font style="font-family:inherit;font-size:11pt;">Note 10</font><font style="font-family:inherit;font-size:11pt;"> for further information.</font></div><div style="line-height:120%;text-align:justify;text-indent:41px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:41px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">The Company currently operates an all-Boeing fleet, the majority of which are variations of the Boeing 737. If the Company were unable to acquire additional aircraft or associated aircraft parts from Boeing, or Boeing were unable or unwilling to make timely deliveries of aircraft or to provide adequate support for its products, the Company&#8217;s operations would be materially adversely impacted. In addition, the Company would be materially adversely impacted in the event of a mechanical or regulatory issue associated with the Boeing 737 or Boeing 717 aircraft type, whether as a result of downtime for part or all of the Company&#8217;s fleet or because of a negative perception by the flying public. The Company is also dependent on sole suppliers for aircraft engines and certain other aircraft parts and would, therefore, also be materially adversely impacted in the event of the unavailability of, or a mechanical or regulatory issue associated with, engines and other parts.</font></div><div style="line-height:120%;text-align:justify;text-indent:41px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:41px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">The Company has historically entered into agreements with some of its co-brand, payment, and loyalty partners that contain exclusivity aspects which place certain confidential restrictions on the Company from entering into certain arrangements with other payment and loyalty partners. These arrangements generally extend for the terms of the partnerships, none of which currently extend beyond </font><font style="font-family:inherit;font-size:11pt;">May 2017</font><font style="font-family:inherit;font-size:11pt;">. The Company believes the financial benefits generated by the exclusivity aspects of these arrangements outweigh the risks involved with such agreements.</font></div></div>
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CY2011 us-gaap Deferred Income Tax Expense Benefit
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CY2012 us-gaap Deferred Income Tax Expense Benefit
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CY2012 us-gaap Deferred State And Local Income Tax Expense Benefit
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CY2013 us-gaap Deferred State And Local Income Tax Expense Benefit
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CY2012Q4 us-gaap Deferred Tax Assets Deferred Gain On Sale Leaseback Transaction
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CY2012Q4 us-gaap Deferred Tax Assets Derivative Instruments
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CY2013Q4 us-gaap Deferred Tax Assets Frequent Flier Liability
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CY2011 us-gaap Defined Benefit Plan Amortization Of Gains Losses
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CY2012 us-gaap Defined Benefit Plan Amortization Of Gains Losses
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CY2011 us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
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CY2013 us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
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CY2011Q4 us-gaap Defined Benefit Plan Benefit Obligation
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CY2012 us-gaap Defined Benefit Plan Benefits Paid
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CY2012Q4 us-gaap Defined Benefit Plan Accumulated Other Comprehensive Income Before Tax
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CY2012Q4 us-gaap Defined Benefit Plan Accumulated Other Comprehensive Income Net Gains Losses Before Tax
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18000000 USD
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CY2013 us-gaap Defined Benefit Plan Business Combinations And Acquisitions Benefit Obligation
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CY2012 us-gaap Defined Benefit Plan Business Combinations And Acquisitions Benefit Obligation
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CY2013Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Five Fiscal Years Thereafter
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CY2013Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Next Twelve Months
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CY2013Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Year Five
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CY2013Q4 us-gaap Defined Benefit Plan Funded Status Of Plan
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15000000 USD
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17000000 USD
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30000000 USD
CY2012 us-gaap Defined Benefit Plan Service Cost
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20000000 USD
CY2013 us-gaap Defined Benefit Plan Ultimate Health Care Cost Trend Rate
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CY2012 us-gaap Defined Contribution Plan Cost Recognized
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370000000 USD
CY2013 us-gaap Defined Contribution Plan Cost Recognized
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497000000 USD
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CY2012 us-gaap Depreciation And Amortization
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CY2012Q4 us-gaap Derivative Fair Value Of Derivative Liability
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CY2013Q4 us-gaap Derivative Nonmonetary Notional Amount Percent Of Required Need Coverage
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CY2011 us-gaap Earnings Per Share Basic
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0.56
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0.30
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0.31
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CY2013Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
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P1Y1M0D
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CY2013Q4 us-gaap Fair Value Assets And Liabilities Measured On Recurring Basis Gain Loss Included In Earnings
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CY2012Q4 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
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CY2013Q4 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
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0 USD
CY2013Q4 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
FairValueAssetsLevel2ToLevel1TransfersAmount
0 USD
CY2012Q4 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
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0 USD
CY2013Q4 us-gaap Fair Value Liabilities Level1 To Level2 Transfers Amount
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0 USD
CY2012Q4 us-gaap Fair Value Liabilities Level1 To Level2 Transfers Amount
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0 USD
CY2013Q4 us-gaap Fair Value Liabilities Level2 To Level1 Transfers Amount
FairValueLiabilitiesLevel2ToLevel1TransfersAmount
0 USD
CY2012Q4 us-gaap Fair Value Liabilities Level2 To Level1 Transfers Amount
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0 USD
CY2012 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1
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27000000 USD
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86000000 USD
CY2012 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Purchases
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1003000000 USD
CY2013Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Purchases
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357000000 USD
CY2012 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Sales
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1112000000 USD
CY2013Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Sales
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417000000 USD
CY2012 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Settlements
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80000000 USD
CY2013Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Settlements
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CY2013 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
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0 USD
CY2012 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
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0 USD
CY2011Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
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489000000 USD
CY2012Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
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260000000 USD
CY2013Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
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216000000 USD
CY2012 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Gain Loss Included In Other Comprehensive Income Loss
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22000000 USD
CY2013Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Gain Loss Included In Other Comprehensive Income Loss
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CY2012 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Transfers Net
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0 USD
CY2013 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Transfers Net
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0 USD
CY2013Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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86000000 USD
CY2013Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
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31000000 USD
CY2013Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
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13000000 USD
CY2013Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
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5000000 USD
CY2013Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
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5000000 USD
CY2013Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
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8000000 USD
CY2013Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
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11000000 USD
CY2013Q4 us-gaap Finite Lived Intangible Assets Net
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166000000 USD
CY2012Q4 us-gaap Finite Lived Intangible Assets Net
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138000000 USD
CY2012Q4 us-gaap Flight Equipment Gross
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CY2013Q4 us-gaap Flight Equipment Gross
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CY2013Q4 us-gaap Frequent Flier Liability Current
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1100000000 USD
CY2011 us-gaap Fuel Costs
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5644000000 USD
CY2013 us-gaap Fuel Costs
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5763000000 USD
CY2012 us-gaap Fuel Costs
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6120000000 USD
CY2012 us-gaap Gain Loss On Components Excluded From Assessment Of Price Risk Fair Value Hedge Effectiveness
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36000000 USD
CY2013 us-gaap Gain Loss On Components Excluded From Assessment Of Price Risk Fair Value Hedge Effectiveness
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60000000 USD
CY2011 us-gaap Gain Loss On Components Excluded From Assessment Of Price Risk Fair Value Hedge Effectiveness
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107000000 USD
CY2012Q4 us-gaap Goodwill
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970000000 USD
CY2013Q4 us-gaap Goodwill
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970000000 USD
CY2011 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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323000000 USD
CY2013 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
1209000000 USD
CY2012 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
685000000 USD
CY2013Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
334000000 USD
CY2013Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
419000000 USD
CY2012Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
159000000 USD
CY2012Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
33000000 USD
CY2012Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
368000000 USD
CY2013Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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94000000 USD
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CY2012 us-gaap Payments To Acquire Short Term Investments
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CY2013Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
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CY2013Q4 us-gaap Prepaid Expense And Other Assets Current
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CY2011 us-gaap Proceeds From Stock Plans
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CY2013 us-gaap Proceeds From Stock Plans
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CY2012 us-gaap Proceeds From Stock Plans
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160 aircraft
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CY2011 us-gaap Repayments Of Convertible Debt
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CY2013 us-gaap Repayments Of Convertible Debt
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CY2012 us-gaap Repayments Of Long Term Debt And Capital Securities
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CY2011 us-gaap Repayments Of Long Term Debt And Capital Securities
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540000000 USD
CY2013 us-gaap Repayments Of Long Term Debt And Capital Securities
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CY2013 us-gaap Revenues
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CY2011 us-gaap Revenues
Revenues
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CY2012 us-gaap Revenues
Revenues
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CY2013Q3 us-gaap Revenues
Revenues
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CY2013Q4 us-gaap Revenues
Revenues
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CY2012Q4 us-gaap Revenues
Revenues
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CY2013Q2 us-gaap Revenues
Revenues
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CY2013Q1 us-gaap Revenues
Revenues
4084000000 USD
CY2012Q2 us-gaap Revenues
Revenues
4616000000 USD
CY2012Q3 us-gaap Revenues
Revenues
4309000000 USD
CY2012Q1 us-gaap Revenues
Revenues
3991000000 USD
CY2013Q4 us-gaap Sale Leaseback Transaction Deferred Gain Net
SaleLeasebackTransactionDeferredGainNet
65000000 USD
CY2012Q4 us-gaap Sale Leaseback Transaction Deferred Gain Net
SaleLeasebackTransactionDeferredGainNet
63000000 USD
CY2013Q4 us-gaap Sale Leaseback Transaction Gross Proceeds
SaleLeasebackTransactionGrossProceeds
12000000 USD
CY2011 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
523000000 USD
CY2011 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
112000000 USD
CY2013 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
96000000 USD
CY2011 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
20000000 USD
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
1000000 USD
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
22000000 USD
CY2013Q4 us-gaap Workers Compensation Liability Current
WorkersCompensationLiabilityCurrent
161000000 USD
CY2012Q4 us-gaap Workers Compensation Liability Current
WorkersCompensationLiabilityCurrent
159000000 USD
CY2012 luv Aggregate Cost Of Discount Off Market Value For Shares Available Under Employee Stock Purchase Plan
AggregateCostOfDiscountOffMarketValueForSharesAvailableUnderEmployeeStockPurchasePlan
0.89 USD
CY2011 luv Aggregate Cost Of Discount Off Market Value For Shares Available Under Employee Stock Purchase Plan
AggregateCostOfDiscountOffMarketValueForSharesAvailableUnderEmployeeStockPurchasePlan
1.03 USD
CY2013 luv Aggregate Cost Of Discount Off Market Value For Shares Available Under Employee Stock Purchase Plan
AggregateCostOfDiscountOffMarketValueForSharesAvailableUnderEmployeeStockPurchasePlan
1.34 USD
CY2012 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
23000000 USD
CY2012 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
16000000 USD
CY2013 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
18000000 USD
CY2011 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
13000000 USD
CY2012Q4 us-gaap Stockholders Equity
StockholdersEquity
6992000000 USD
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
22000000 shares
CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
1000000 USD
CY2012Q4 us-gaap Short Term Investments
ShortTermInvestments
1857000000 USD
CY2013Q4 us-gaap Short Term Investments
ShortTermInvestments
1797000000 USD
CY2011 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
1700000 shares
CY2012 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
2200000 shares
CY2013 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
1500000 shares
CY2013Q4 us-gaap Stockholders Equity
StockholdersEquity
7336000000 USD
CY2011Q4 us-gaap Stockholders Equity
StockholdersEquity
6877000000 USD
CY2010Q4 us-gaap Stockholders Equity
StockholdersEquity
6237000000 USD
CY2013Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
146000000 USD
CY2012Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
128000000 USD
CY2012Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
77292145 shares
CY2013Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
107136946 shares
CY2012Q4 us-gaap Treasury Stock Value
TreasuryStockValue
675000000 USD
CY2013Q4 us-gaap Treasury Stock Value
TreasuryStockValue
1131000000 USD
CY2013 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
540000000 USD
CY2012 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
400000000 USD
CY2011 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
225000000 USD
CY2011 us-gaap Unrealized Gain Loss On Derivatives And Commodity Contracts
UnrealizedGainLossOnDerivativesAndCommodityContracts
-90000000 USD
CY2012 us-gaap Unrealized Gain Loss On Derivatives And Commodity Contracts
UnrealizedGainLossOnDerivativesAndCommodityContracts
189000000 USD
CY2013 us-gaap Unrealized Gain Loss On Derivatives And Commodity Contracts
UnrealizedGainLossOnDerivativesAndCommodityContracts
5000000 USD
CY2013Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
5000000 USD
CY2013 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
718000000 shares
CY2012 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
757000000 shares
CY2011 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
775000000 shares
CY2012 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
750000000 shares
CY2013 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
710000000 shares
CY2011 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
774000000 shares
CY2013Q4 luv Aircraft Maintenance Payable
AircraftMaintenancePayable
331000000 USD
CY2012Q4 luv Aircraft Maintenance Payable
AircraftMaintenancePayable
299000000 USD
CY2013Q4 luv Assets Constructed For Others
AssetsConstructedForOthers
453000000 USD
CY2012Q4 luv Assets Constructed For Others
AssetsConstructedForOthers
331000000 USD
CY2013 luv Assets Constructedfor Others During Period
AssetsConstructedforOthersDuringPeriod
105000000 USD
CY2011 luv Assets Constructedfor Others During Period
AssetsConstructedforOthersDuringPeriod
116000000 USD
CY2012 luv Assets Constructedfor Others During Period
AssetsConstructedforOthersDuringPeriod
129000000 USD
CY2013Q4 luv Cash Collateral Percent Of Fair Value Fuel Derivatives Contracts
CashCollateralPercentOfFairValueFuelDerivativesContracts
1
CY2013Q4 luv Construction Obligation Noncurrent
ConstructionObligationNoncurrent
437000000 USD
CY2012Q4 luv Construction Obligation Noncurrent
ConstructionObligationNoncurrent
331000000 USD
CY2013 luv Debt Instrument Agreements Not Publicly Held
DebtInstrumentAgreementsNotPubliclyHeld
6 Agreements
CY2013Q4 luv Debtdiscountandissuancecosts
Debtdiscountandissuancecosts
-22000000 USD
CY2012Q4 luv Debtdiscountandissuancecosts
Debtdiscountandissuancecosts
-21000000 USD
CY2012Q4 luv Deferred Tax Assets Capital And Operating Leases
DeferredTaxAssetsCapitalAndOperatingLeases
179000000 USD
CY2013Q4 luv Deferred Tax Assets Capital And Operating Leases
DeferredTaxAssetsCapitalAndOperatingLeases
163000000 USD
CY2013Q4 luv Deferred Tax Assets Construction Obligation
DeferredTaxAssetsConstructionObligation
168000000 USD
CY2012Q4 luv Deferred Tax Assets Construction Obligation
DeferredTaxAssetsConstructionObligation
127000000 USD
CY2012Q4 luv Deferred Tax Assets Net Operating Losses And Credit Carrybacks
DeferredTaxAssetsNetOperatingLossesAndCreditCarrybacks
83000000 USD
CY2013Q4 luv Deferred Tax Assets Net Operating Losses And Credit Carrybacks
DeferredTaxAssetsNetOperatingLossesAndCreditCarrybacks
14000000 USD
CY2012Q4 luv Deferred Tax Assets Tax Deferred Expense Engine Maintenance
DeferredTaxAssetsTaxDeferredExpenseEngineMaintenance
84000000 USD
CY2013Q4 luv Deferred Tax Assets Tax Deferred Expense Engine Maintenance
DeferredTaxAssetsTaxDeferredExpenseEngineMaintenance
90000000 USD
CY2013 luv Defined Contribution Pension Plans Maximum Age Requirement For Paying Medical And Dental Premiums With Accrued Unused Sick Time
DefinedContributionPensionPlansMaximumAgeRequirementForPayingMedicalAndDentalPremiumsWithAccruedUnusedSickTime
P65Y
CY2012Q4 luv Derivative Asset Fair Value Amount Offset Against Collateral Total
DerivativeAssetFairValueAmountOffsetAgainstCollateralTotal
306000000 USD
CY2013Q4 luv Derivative Asset Fair Value Amount Offset Against Collateral Total
DerivativeAssetFairValueAmountOffsetAgainstCollateralTotal
145000000 USD
CY2013 luv Discount Percentage Off Market Value For Shares Available Under Employee Stock Purchase Plan
DiscountPercentageOffMarketValueForSharesAvailableUnderEmployeeStockPurchasePlan
0.10
CY2012Q4 luv Fuel Payable
FuelPayable
112000000 USD
CY2013Q4 luv Fuel Payable
FuelPayable
102000000 USD
CY2013 luv Funds Related To Free Travel Percentage Air Tran
FundsRelatedToFreeTravelPercentageAirTran
1
CY2013 luv Funds Related To Free Travel Percentage Sw
FundsRelatedToFreeTravelPercentageSW
1
CY2013 luv Gain Loss On Price Risk Hedge Ineffectiveness And Gain Loss On Price Risk Derivative Instruments Not Designated As Hedging Instruments
GainLossOnPriceRiskHedgeIneffectivenessAndGainLossOnPriceRiskDerivativeInstrumentsNotDesignatedAsHedgingInstruments
57000000 USD
CY2013Q4 luv Intangible Assets Gross
IntangibleAssetsGross
252000000 USD
CY2013Q4 luv Leaseback Period
LeasebackPeriod
P11Y0M0D
CY2013Q4 luv Long Term Purchase Commitment Minimum Quantity Required For737 Mx Aircraft
LongTermPurchaseCommitmentMinimumQuantityRequiredFor737MxAircraft
30 aircraft
CY2013Q4 luv Long Term Purchase Commitment Minimum Quantity Required For737 Ng700 Aircraft
LongTermPurchaseCommitmentMinimumQuantityRequiredFor737NG700Aircraft
56 aircraft
CY2013Q4 luv Long Term Purchase Commitment Minimum Quantity Required For737 Ng800 Aircraft
LongTermPurchaseCommitmentMinimumQuantityRequiredFor737NG800Aircraft
52 aircraft
CY2013Q4 luv Long Term Purchase Commitments Additional700 Ac
LongTermPurchaseCommitmentsAdditional700AC
12 aircraft
CY2013Q4 luv Long Term Purchase Commitments Minimum Quantity Requiredfor800 Mx Aircraft
LongTermPurchaseCommitmentsMinimumQuantityRequiredfor800MxAircraft
170 aircraft
CY2013Q4 luv Long Term Purchase Commitments Options737 Mx
LongTermPurchaseCommitmentsOptions737Mx
191 aircraft
CY2013Q4 luv Long Term Purchase Commitments Options737 Ng
LongTermPurchaseCommitmentsOptions737NG
36 aircraft
CY2013Q4 luv Long Term Purchase Commitments Total
LongTermPurchaseCommitmentsTotal
547 aircraft
CY2013Q4 luv Maximum Additional Number Of Assets Pledged As Collateral In Case Obligations Related To Fuel Derivatives Exceed Certain Thresholds
MaximumAdditionalNumberOfAssetsPledgedAsCollateralInCaseObligationsRelatedToFuelDerivativesExceedCertainThresholds
81 aircraft
CY2013Q4 luv Maximum Sum Of Derivatives Of Counterparty To Be Included In Other
MaximumSumOfDerivativesOfCounterpartyToBeIncludedInOther
20000000 USD
CY2013Q4 luv Net Book Value Of Additional Assets Pledged As Collateral In Case Obligations Related To Fuel Derivatives Exceed Certain Thresholds
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2100000000 USD
CY2013Q4 luv Number Of Aircraft Sold In Sale And Leaseback Transaction
NumberOfAircraftSoldInSaleAndLeasebackTransaction
2 aircraft
CY2013Q4 luv Operating Leases Future Minimum Payments Net
OperatingLeasesFutureMinimumPaymentsNet
3890000000 USD
CY2013Q4 luv Operating Leases Future Minimum Payments Net Current
OperatingLeasesFutureMinimumPaymentsNetCurrent
637000000 USD
CY2013Q4 luv Operating Leases Future Minimum Payments Net In Five Years
OperatingLeasesFutureMinimumPaymentsNetInFiveYears
327000000 USD
CY2013Q4 luv Operating Leases Future Minimum Payments Net In Four Years
OperatingLeasesFutureMinimumPaymentsNetInFourYears
410000000 USD
CY2013Q4 luv Operating Leases Future Minimum Payments Net In Three Years
OperatingLeasesFutureMinimumPaymentsNetInThreeYears
438000000 USD
CY2013Q4 luv Operating Leases Future Minimum Payments Net In Two Years
OperatingLeasesFutureMinimumPaymentsNetInTwoYears
565000000 USD
CY2013Q4 luv Operating Leases Future Minimum Payments Net Thereafter
OperatingLeasesFutureMinimumPaymentsNetThereafter
1513000000 USD
CY2013Q4 luv Percentage Excess Of Fair Value Over Carrying Value For Goodwill And Finite Lived Intangible Assets
PercentageExcessOfFairValueOverCarryingValueForGoodwillAndFiniteLivedIntangibleAssets
0.50
CY2013Q4 luv Percentage Of Employees Subject To Amendable Agreements In Current Year
PercentageOfEmployeesSubjectToAmendableAgreementsInCurrentYear
0.82
CY2013 luv Percentage Of Market Value For Shares Available Under Employee Stock Purchase Plan
PercentageOfMarketValueForSharesAvailableUnderEmployeeStockPurchasePlan
0.9
CY2011 luv Proceeds From Sale Of Short Term And Other Investments
ProceedsFromSaleOfShortTermAndOtherInvestments
5343000000 USD
CY2013 luv Proceeds From Sale Of Short Term And Other Investments
ProceedsFromSaleOfShortTermAndOtherInvestments
3198000000 USD
CY2012 luv Proceeds From Sale Of Short Term And Other Investments
ProceedsFromSaleOfShortTermAndOtherInvestments
2996000000 USD
CY2012 luv Proceeds From Termination Of Interest Rate Derivatives
ProceedsFromTerminationOfInterestRateDerivatives
38000000 USD
CY2013 luv Proceeds From Termination Of Interest Rate Derivatives
ProceedsFromTerminationOfInterestRateDerivatives
0 USD
CY2011 luv Proceeds From Termination Of Interest Rate Derivatives
ProceedsFromTerminationOfInterestRateDerivatives
76000000 USD
CY2011 luv Repayments Of Construction Obligation
RepaymentsOfConstructionObligation
0 USD
CY2013 luv Repayments Of Construction Obligation
RepaymentsOfConstructionObligation
5000000 USD
CY2012 luv Repayments Of Construction Obligation
RepaymentsOfConstructionObligation
0 USD
CY2013 dei Entity Registrant Name
EntityRegistrantName
SOUTHWEST AIRLINES CO
CY2013 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2013 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
Yes
CY2011 luv Share Based Compensation Arrangement By Share Based Payment Award Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedInPeriodTotalFairValue
13000000 USD
CY2013 luv Share Based Compensation Arrangement By Share Based Payment Award Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedInPeriodTotalFairValue
16000000 USD
CY2012 luv Share Based Compensation Arrangement By Share Based Payment Award Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedInPeriodTotalFairValue
13000000 USD
CY2013Q4 luv Stock Available For Issue Number Employee Stock Purchase Plan
StockAvailableForIssueNumberEmployeeStockPurchasePlan
11000000 shares
CY2013Q4 luv Weighted Average Fair Value Of Stock Purchase Right Under Employee Stock Purchase Plan
WeightedAverageFairValueOfStockPurchaseRightUnderEmployeeStockPurchasePlan
12.03
CY2012Q4 luv Weighted Average Fair Value Of Stock Purchase Right Under Employee Stock Purchase Plan
WeightedAverageFairValueOfStockPurchaseRightUnderEmployeeStockPurchasePlan
8.01
CY2011Q4 luv Weighted Average Fair Value Of Stock Purchase Right Under Employee Stock Purchase Plan
WeightedAverageFairValueOfStockPurchaseRightUnderEmployeeStockPurchasePlan
9.73
CY2013 dei Amendment Flag
AmendmentFlag
false
CY2013 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2013 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2013 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
CY2013 dei Document Period End Date
DocumentPeriodEndDate
2013-12-31
CY2013 dei Document Type
DocumentType
10-K
CY2013 dei Entity Central Index Key
EntityCentralIndexKey
0000092380
CY2014Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
701991465 shares
CY2013 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2013 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2013Q2 dei Entity Public Float
EntityPublicFloat
9088020821 USD

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