$LUV
SOUTHWEST AIRLINES CO Stock $luv

$luv Overview Financials Valuation SEC Filings Company Website

2015 Q1 Form 10-Q Financial Statement

#000009238015000042 Filed on April 30, 2015

Income Statement

Concept	2015 Q1	2014 Q1
Revenue	$4.414B	$4.166B
YoY Change	5.95%	2.01%
Cost Of Revenue	$1.222B	$1.660B
YoY Change	-26.39%	-8.59%
Gross Profit	$3.192B	$2.507B
YoY Change	27.32%	10.54%
Gross Profit Margin	72.32%	60.18%
Selling, General & Admin	$1.648B	$1.524B
YoY Change	8.14%	3.39%
% of Gross Profit	51.63%	60.79%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$244.0M	$221.0M
YoY Change	10.41%	5.24%
% of Gross Profit	7.64%	8.82%
Operating Expenses	$3.634B	$3.951B
YoY Change	-8.02%	-1.57%
Operating Profit	$780.0M	$215.0M
YoY Change	262.79%	207.14%
Interest Expense	$32.00M	$28.00M
YoY Change	14.29%	16.67%
% of Operating Profit	4.1%	13.02%
Other Income/Expense, Net	-$57.00M	$29.00M
YoY Change	-296.55%	20.83%
Pretax Income	$723.0M	$244.0M
YoY Change	196.31%	159.57%
Income Tax	$270.0M	$92.00M
% Of Pretax Income	37.34%	37.7%
Net Earnings	$453.0M	$152.0M
YoY Change	198.03%	157.63%
Net Earnings / Revenue	10.26%	3.65%
Basic Earnings Per Share	$0.67	$0.22
Diluted Earnings Per Share	$0.66	$0.22
COMMON SHARES
Basic Shares Outstanding	674.0M shares	698.0M shares
Diluted Shares Outstanding	682.0M shares	707.0M shares

Balance Sheet

Concept	2015 Q1	2014 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments	$3.438B	$3.498B
YoY Change	-1.72%	11.58%
Cash & Equivalents	$2.025B	$1.741B
Short-Term Investments	$1.413B	$1.757B
Other Short-Term Assets	$722.0M	$421.0M
YoY Change	71.5%	-10.43%
Inventory	$304.0M	$438.0M
Prepaid Expenses
Receivables	$499.0M	$457.0M
Other Receivables	$0.00	$0.00
Total Short-Term Assets	$4.963B	$4.814B
YoY Change	3.1%	6.65%
LONG-TERM ASSETS
Property, Plant & Equipment	$14.61B	$13.42B
YoY Change	8.85%	2.21%
Goodwill	$970.0M	$970.0M
YoY Change	0.0%	0.0%
Intangibles	$479.0M	$372.0M
YoY Change	28.76%
Long-Term Investments		$37.00M
YoY Change		-13.95%
Other Assets	$623.0M	$772.0M
YoY Change	-19.3%	32.42%
Total Long-Term Assets	$16.20B	$15.16B
YoY Change	6.85%	3.26%
TOTAL ASSETS
Total Short-Term Assets	$4.963B	$4.814B
Total Long-Term Assets	$16.20B	$15.16B
Total Assets	$21.16B	$19.98B
YoY Change	5.94%	4.06%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$1.145B	$1.299B
YoY Change	-11.86%	3.92%
Accrued Expenses	$1.874B	$1.168B
YoY Change	60.45%	16.33%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00
YoY Change
Long-Term Debt Due	$271.0M	$642.0M
YoY Change	-57.79%	129.29%
Total Short-Term Liabilities	$6.903B	$6.441B
YoY Change	7.17%	19.04%
LONG-TERM LIABILITIES
Long-Term Debt	$2.599B	$2.438B
YoY Change	6.6%	-9.97%
Other Long-Term Liabilities	$1.095B	$726.0M
YoY Change	50.83%	-37.03%
Total Long-Term Liabilities	$1.095B	$726.0M
YoY Change	50.83%	-81.2%
TOTAL LIABILITIES
Total Short-Term Liabilities	$6.903B	$6.441B
Total Long-Term Liabilities	$1.095B	$726.0M
Total Liabilities	$7.998B	$7.167B
YoY Change	11.59%	-22.7%
SHAREHOLDERS EQUITY
Retained Earnings	$7.829B	$6.555B
YoY Change	19.44%	12.67%
Common Stock	$2.137B	$2.064B
YoY Change	3.54%	2.08%
Preferred Stock
YoY Change
Treasury Stock (at cost)	$2.322B	$1.417B
YoY Change	63.87%	84.51%
Treasury Stock Shares
Shareholders Equity	$6.902B	$7.190B
YoY Change
Total Liabilities & Shareholders Equity	$21.16B	$19.98B
YoY Change	5.94%	4.06%

Cashflow Statement

Concept	2015 Q1	2014 Q1
OPERATING ACTIVITIES
Net Income	$453.0M	$152.0M
YoY Change	198.03%	157.63%
Depreciation, Depletion And Amortization	$244.0M	$221.0M
YoY Change	10.41%	5.24%
Cash From Operating Activities	$1.452B	$1.119B
YoY Change	29.76%	13.84%
INVESTING ACTIVITIES
Capital Expenditures	-$595.0M	-$407.0M
YoY Change	46.19%	-176.22%
Acquisitions
YoY Change
Other Investing Activities	$293.0M	$49.00M
YoY Change	497.96%	-20.97%
Cash From Investing Activities	-$302.0M	-$358.0M
YoY Change	-15.64%	-24.15%
FINANCING ACTIVITIES
Cash Dividend Paid	$81.00M
YoY Change
Common Stock Issuance & Retirement, Net	$300.0M	$315.0M
YoY Change	-4.76%	215.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	-$407.0M	-$375.0M
YoY Change	8.53%	31.12%
NET CHANGE
Cash From Operating Activities	$1.452B	$1.119B
Cash From Investing Activities	-$302.0M	-$358.0M
Cash From Financing Activities	-$407.0M	-$375.0M
Net Change In Cash	$743.0M	$386.0M
YoY Change	92.49%	71.56%
FREE CASH FLOW
Cash From Operating Activities	$1.452B	$1.119B
Capital Expenditures	-$595.0M	-$407.0M
Free Cash Flow	$2.047B	$1.526B
YoY Change	34.14%	239.87%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
CY2014Q4	us-gaap	Accrued Rent Current AccruedRentCurrent	159000000	USD
CY2015Q1	us-gaap	Accrued Rent Current AccruedRentCurrent	100000000	USD
CY2015Q1	luv	Maximum Sum Of Derivatives Of Counterparty To Be Included In Other MaximumSumOfDerivativesOfCounterpartyToBeIncludedInOther	20000000	USD
CY2014Q4	us-gaap	Accrued Salaries Current AccruedSalariesCurrent	160000000	USD
CY2015Q1	us-gaap	Accrued Salaries Current AccruedSalariesCurrent	161000000	USD
CY2014Q4	luv	Noncurrent Lease Related Obligations NoncurrentLeaseRelatedObligations	193000000	USD
CY2014Q4	us-gaap	Accrued Vacation Current AccruedVacationCurrent	292000000	USD
CY2015Q1	us-gaap	Accrued Vacation Current AccruedVacationCurrent	297000000	USD
CY2015Q1	luv	Noncurrent Lease Related Obligations NoncurrentLeaseRelatedObligations	183000000	USD
CY2014Q4	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	8221000000	USD
CY2015Q1	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	8455000000	USD
CY2014Q1	luv	Proceeds From Sale Of Short Term And Other Investments ProceedsFromSaleOfShortTermAndOtherInvestments	819000000	USD
CY2015Q1	dei	Amendment Flag AmendmentFlag	false
CY2015Q1	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
CY2015Q1	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q1
CY2015Q1	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2015
CY2014Q4	us-gaap	Accumulated Other Comprehensive Income Loss Net Of Tax AccumulatedOtherComprehensiveIncomeLossNetOfTax	-738000000	USD
CY2015Q1	luv	Proceeds From Sale Of Short Term And Other Investments ProceedsFromSaleOfShortTermAndOtherInvestments	609000000	USD
CY2014Q1	luv	Proceeds From Termination Of Interest Rate Derivatives ProceedsFromTerminationOfInterestRateDerivatives	0	USD
CY2015Q1	luv	Proceeds From Termination Of Interest Rate Derivatives ProceedsFromTerminationOfInterestRateDerivatives	12000000	USD
CY2015Q1	dei	Document Period End Date DocumentPeriodEndDate	2015-03-31
CY2015Q1	dei	Document Type DocumentType	10-Q
CY2015Q1	dei	Entity Central Index Key EntityCentralIndexKey	0000092380
CY2015Q2	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	668296625	shares
CY2015Q1	dei	Entity Filer Category EntityFilerCategory	Large Accelerated Filer
CY2015Q1	dei	Entity Registrant Name EntityRegistrantName	SOUTHWEST AIRLINES CO
CY2014Q4	luv	Aircraft Maintenance Payable AircraftMaintenancePayable	314000000	USD
CY2015Q1	luv	Aircraft Maintenance Payable AircraftMaintenancePayable	170000000	USD
CY2014	luv	Amountpaidforpurchasesandsalesofoffsettingderivativeinstruments Amountpaidforpurchasesandsalesofoffsettingderivativeinstruments	217000000	USD
CY2014Q1	luv	Reimbursementforairportconstruction Reimbursementforairportconstruction	0	USD
CY2015Q1	luv	Reimbursementforairportconstruction Reimbursementforairportconstruction	2000000	USD
CY2014Q4	luv	Assets Constructed For Others AssetsConstructedForOthers	621000000	USD
CY2015Q1	luv	Assets Constructed For Others AssetsConstructedForOthers	686000000	USD
CY2014Q1	luv	Assets Constructedfor Others During Period AssetsConstructedforOthersDuringPeriod	13000000	USD
CY2015Q1	luv	Assets Constructedfor Others During Period AssetsConstructedforOthersDuringPeriod	43000000	USD
CY2015Q1	luv	Cash Collateral Percent Of Fair Value Fuel Derivatives Contracts CashCollateralPercentOfFairValueFuelDerivativesContracts	1
CY2014Q4	luv	Construction Obligation Noncurrent ConstructionObligationNoncurrent	554000000	USD
CY2015Q1	luv	Construction Obligation Noncurrent ConstructionObligationNoncurrent	595000000	USD
CY2014Q1	luv	Repayments Of Construction Obligation RepaymentsOfConstructionObligation	3000000	USD
CY2014Q4	luv	Derivative Asset Fair Value Amount Offset Against Collateral Total DerivativeAssetFairValueAmountOffsetAgainstCollateralTotal	13000000	USD
CY2015Q1	luv	Derivative Asset Fair Value Amount Offset Against Collateral Total DerivativeAssetFairValueAmountOffsetAgainstCollateralTotal	4000000	USD
CY2014Q4	luv	Fuel Payable FuelPayable	85000000	USD
CY2015Q1	luv	Fuel Payable FuelPayable	59000000	USD
CY2015Q1	luv	Repayments Of Construction Obligation RepaymentsOfConstructionObligation	2000000	USD
CY2014Q4	us-gaap	Accounts And Other Receivables Net Current AccountsAndOtherReceivablesNetCurrent	365000000	USD
CY2015Q1	us-gaap	Accounts And Other Receivables Net Current AccountsAndOtherReceivablesNetCurrent	499000000	USD
CY2014Q4	us-gaap	Accounts Payable Current AccountsPayableCurrent	1203000000	USD
CY2015Q1	us-gaap	Accounts Payable Current AccountsPayableCurrent	1145000000	USD
CY2014Q4	us-gaap	Accounts Payable Other Current AccountsPayableOtherCurrent	358000000	USD
CY2015Q1	us-gaap	Accounts Payable Other Current AccountsPayableOtherCurrent	345000000	USD
CY2014Q4	us-gaap	Accounts Payable Trade Current AccountsPayableTradeCurrent	123000000	USD
CY2015Q1	us-gaap	Accounts Payable Trade Current AccountsPayableTradeCurrent	181000000	USD
CY2014Q4	us-gaap	Accrual For Taxes Other Than Income Taxes Current AccrualForTaxesOtherThanIncomeTaxesCurrent	81000000	USD
CY2015Q1	us-gaap	Accrual For Taxes Other Than Income Taxes Current AccrualForTaxesOtherThanIncomeTaxesCurrent	200000000	USD
CY2014Q4	us-gaap	Accrued Employee Benefits Current AccruedEmployeeBenefitsCurrent	84000000	USD
CY2015Q1	us-gaap	Accrued Employee Benefits Current AccruedEmployeeBenefitsCurrent	72000000	USD
CY2014Q4	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	1565000000	USD
CY2015Q1	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	1874000000	USD
CY2015Q1	us-gaap	Accumulated Other Comprehensive Income Loss Net Of Tax AccumulatedOtherComprehensiveIncomeLossNetOfTax	-742000000	USD
CY2014Q4	us-gaap	Additional Paid In Capital Common Stock AdditionalPaidInCapitalCommonStock	1315000000	USD
CY2015Q1	us-gaap	Additional Paid In Capital Common Stock AdditionalPaidInCapitalCommonStock	1329000000	USD
CY2014Q1	us-gaap	Aircraft Maintenance Materials And Repairs AircraftMaintenanceMaterialsAndRepairs	250000000	USD
CY2015Q1	us-gaap	Aircraft Maintenance Materials And Repairs AircraftMaintenanceMaterialsAndRepairs	229000000	USD
CY2014Q1	us-gaap	Aircraft Rental AircraftRental	81000000	USD
CY2015Q1	us-gaap	Aircraft Rental AircraftRental	60000000	USD
CY2014Q4	us-gaap	Airline Related Inventory AirlineRelatedInventory	342000000	USD
CY2015Q1	us-gaap	Airline Related Inventory AirlineRelatedInventory	304000000	USD
CY2014Q4	us-gaap	Assets Assets	20200000000	USD
CY2015Q1	us-gaap	Assets Assets	21163000000	USD
CY2014Q4	us-gaap	Assets Current AssetsCurrent	4404000000	USD
CY2015Q1	us-gaap	Assets Current AssetsCurrent	4963000000	USD
CY2015Q1	us-gaap	Available For Sale Securities AvailableForSaleSecurities	27000000	USD
CY2014Q4	us-gaap	Available For Sale Securities Noncurrent AvailableForSaleSecuritiesNoncurrent	35000000	USD
CY2015Q1	us-gaap	Available For Sale Securities Noncurrent AvailableForSaleSecuritiesNoncurrent	31000000	USD
CY2014Q1	us-gaap	Business Combination Integration Related Costs BusinessCombinationIntegrationRelatedCosts	18000000	USD
CY2015Q1	us-gaap	Business Combination Integration Related Costs BusinessCombinationIntegrationRelatedCosts	23000000	USD
CY2014Q1	us-gaap	Cargo And Freight Revenue CargoAndFreightRevenue	40000000	USD
CY2015Q1	us-gaap	Cargo And Freight Revenue CargoAndFreightRevenue	44000000	USD
CY2013Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	1355000000	USD
CY2014Q1	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	1741000000	USD
CY2014Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	1282000000	USD
CY2015Q1	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	2025000000	USD
CY2014Q1	us-gaap	Cash And Cash Equivalents Period Increase Decrease CashAndCashEquivalentsPeriodIncreaseDecrease	386000000	USD
CY2015Q1	us-gaap	Cash And Cash Equivalents Period Increase Decrease CashAndCashEquivalentsPeriodIncreaseDecrease	743000000	USD
CY2014Q1	us-gaap	Common Stock Dividends Per Share Declared CommonStockDividendsPerShareDeclared	0.04
CY2015Q1	us-gaap	Common Stock Dividends Per Share Declared CommonStockDividendsPerShareDeclared	0.06
CY2014Q4	us-gaap	Common Stock Value CommonStockValue	808000000	USD
CY2015Q1	us-gaap	Common Stock Value CommonStockValue	808000000	USD
CY2014Q1	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	143000000	USD
CY2015Q1	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	449000000	USD
CY2014Q4	us-gaap	Deferred Air Traffic Revenue DeferredAirTrafficRevenue	2897000000	USD
CY2015Q1	us-gaap	Deferred Air Traffic Revenue DeferredAirTrafficRevenue	3613000000	USD
CY2014Q4	us-gaap	Deferred Compensation Cash Based Arrangements Liability Current DeferredCompensationCashBasedArrangementsLiabilityCurrent	374000000	USD
CY2015Q1	us-gaap	Deferred Compensation Cash Based Arrangements Liability Current DeferredCompensationCashBasedArrangementsLiabilityCurrent	491000000	USD
CY2015Q1	us-gaap	Deferred Gain Loss On Discontinuation Of Interest Rate Fair Value Hedge DeferredGainLossOnDiscontinuationOfInterestRateFairValueHedge	12000000	USD
CY2014Q1	us-gaap	Deferred Income Tax Expense Benefit DeferredIncomeTaxExpenseBenefit	92000000	USD
CY2015Q1	us-gaap	Deferred Income Tax Expense Benefit DeferredIncomeTaxExpenseBenefit	19000000	USD
CY2014Q4	us-gaap	Deferred Tax Assets Net Current DeferredTaxAssetsNetCurrent	477000000	USD
CY2015Q1	us-gaap	Deferred Tax Assets Net Current DeferredTaxAssetsNetCurrent	452000000	USD
CY2014Q4	us-gaap	Deferred Tax Liabilities Noncurrent DeferredTaxLiabilitiesNoncurrent	3259000000	USD
CY2015Q1	us-gaap	Deferred Tax Liabilities Noncurrent DeferredTaxLiabilitiesNoncurrent	3252000000	USD
CY2014Q4	us-gaap	Deposits On Flight Equipment DepositsOnFlightEquipment	566000000	USD
CY2015Q1	us-gaap	Deposits On Flight Equipment DepositsOnFlightEquipment	619000000	USD
CY2014Q1	us-gaap	Depreciation And Amortization DepreciationAndAmortization	221000000	USD
CY2015Q1	us-gaap	Depreciation And Amortization DepreciationAndAmortization	244000000	USD
CY2014Q4	us-gaap	Derivative Fair Value Of Derivative Asset DerivativeFairValueOfDerivativeAsset	1360000000	USD
CY2015Q1	us-gaap	Derivative Fair Value Of Derivative Asset DerivativeFairValueOfDerivativeAsset	1244000000	USD
CY2014Q4	us-gaap	Derivative Fair Value Of Derivative Liability DerivativeFairValueOfDerivativeLiability	2409000000	USD
CY2015Q1	us-gaap	Derivative Fair Value Of Derivative Liability DerivativeFairValueOfDerivativeLiability	2367000000	USD
CY2014Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.22
CY2015Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.67
CY2014Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.22
CY2015Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.66
CY2015Q1	us-gaap	Fair Value Assets And Liabilities Measured On Recurring Basis Gain Loss Included In Earnings FairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisGainLossIncludedInEarnings	-94000000	USD
CY2014Q4	us-gaap	Fair Value Assets Level1 To Level2 Transfers Amount FairValueAssetsLevel1ToLevel2TransfersAmount	0	USD
CY2015Q1	us-gaap	Fair Value Assets Level1 To Level2 Transfers Amount FairValueAssetsLevel1ToLevel2TransfersAmount	0	USD
CY2014Q4	us-gaap	Fair Value Assets Level2 To Level1 Transfers Amount FairValueAssetsLevel2ToLevel1TransfersAmount	0	USD
CY2015Q1	us-gaap	Fair Value Assets Level2 To Level1 Transfers Amount FairValueAssetsLevel2ToLevel1TransfersAmount	0	USD
CY2014Q4	us-gaap	Fair Value Liabilities Level1 To Level2 Transfers Amount FairValueLiabilitiesLevel1ToLevel2TransfersAmount	0	USD
CY2015Q1	us-gaap	Fair Value Liabilities Level1 To Level2 Transfers Amount FairValueLiabilitiesLevel1ToLevel2TransfersAmount	0	USD
CY2014Q4	us-gaap	Fair Value Liabilities Level2 To Level1 Transfers Amount FairValueLiabilitiesLevel2ToLevel1TransfersAmount	0	USD
CY2015Q1	us-gaap	Fair Value Liabilities Level2 To Level1 Transfers Amount FairValueLiabilitiesLevel2ToLevel1TransfersAmount	0	USD
CY2015Q1	us-gaap	Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1 FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1	-93000000	USD
CY2015Q1	us-gaap	Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Purchases FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases	62000000	USD
CY2015Q1	us-gaap	Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Sales FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSales	48000000	USD
CY2012Q4	us-gaap	Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet	0	USD
CY2015Q1	us-gaap	Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet	0	USD
CY2014Q4	us-gaap	Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue	-1059000000	USD
CY2015Q1	us-gaap	Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue	-1218000000	USD
CY2015Q1	us-gaap	Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Gain Loss Included In Other Comprehensive Income Loss FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisGainLossIncludedInOtherComprehensiveIncomeLoss	-79000000	USD
CY2012Q4	us-gaap	Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Transfers Net FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityTransfersNet	0	USD
CY2015Q1	us-gaap	Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Transfers Net FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityTransfersNet	0	USD
CY2014Q4	us-gaap	Flight Equipment Gross FlightEquipmentGross	18473000000	USD
CY2015Q1	us-gaap	Flight Equipment Gross FlightEquipmentGross	18858000000	USD
CY2014Q1	us-gaap	Fuel Costs FuelCosts	1314000000	USD
CY2015Q1	us-gaap	Fuel Costs FuelCosts	877000000	USD
CY2014Q1	us-gaap	Gain Loss On Components Excluded From Assessment Of Price Risk Fair Value Hedge Effectiveness GainLossOnComponentsExcludedFromAssessmentOfPriceRiskFairValueHedgeEffectiveness	17000000	USD
CY2015Q1	us-gaap	Gain Loss On Components Excluded From Assessment Of Price Risk Fair Value Hedge Effectiveness GainLossOnComponentsExcludedFromAssessmentOfPriceRiskFairValueHedgeEffectiveness	26000000	USD
CY2014Q4	us-gaap	Goodwill Goodwill	970000000	USD
CY2015Q1	us-gaap	Goodwill Goodwill	970000000	USD
CY2014Q1	us-gaap	Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments	244000000	USD
CY2015Q1	us-gaap	Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments	723000000	USD
CY2014Q1	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	92000000	USD
CY2015Q1	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	270000000	USD
CY2014Q1	us-gaap	Income Taxes Paid IncomeTaxesPaid	0	USD
CY2015Q1	us-gaap	Income Taxes Paid IncomeTaxesPaid	111000000	USD
CY2014Q1	us-gaap	Increase Decrease Cash Collateral From Counterparties IncreaseDecreaseCashCollateralFromCounterparties	11000000	USD
CY2015Q1	us-gaap	Increase Decrease Cash Collateral From Counterparties IncreaseDecreaseCashCollateralFromCounterparties	-17000000	USD
CY2014Q1	us-gaap	Increase Decrease In Accounts And Other Receivables IncreaseDecreaseInAccountsAndOtherReceivables	72000000	USD
CY2015Q1	us-gaap	Increase Decrease In Accounts And Other Receivables IncreaseDecreaseInAccountsAndOtherReceivables	130000000	USD
CY2014Q1	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	24000000	USD
CY2015Q1	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	177000000	USD
CY2014Q1	us-gaap	Increase Decrease In Deferred Air Traffic Revenue IncreaseDecreaseInDeferredAirTrafficRevenue	761000000	USD
CY2015Q1	us-gaap	Increase Decrease In Deferred Air Traffic Revenue IncreaseDecreaseInDeferredAirTrafficRevenue	717000000	USD
CY2014Q1	us-gaap	Increase Decrease In Other Operating Assets IncreaseDecreaseInOtherOperatingAssets	-7000000	USD
CY2015Q1	us-gaap	Increase Decrease In Other Operating Assets IncreaseDecreaseInOtherOperatingAssets	-13000000	USD
CY2014Q1	us-gaap	Incremental Common Shares Attributable To Conversion Of Debt Securities IncrementalCommonSharesAttributableToConversionOfDebtSecurities	6000000	shares
CY2015Q1	us-gaap	Incremental Common Shares Attributable To Conversion Of Debt Securities IncrementalCommonSharesAttributableToConversionOfDebtSecurities	6000000	shares
CY2014Q1	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	3000000	shares
CY2015Q1	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	2000000	shares
CY2014Q4	us-gaap	Intangible Assets Net Excluding Goodwill IntangibleAssetsNetExcludingGoodwill	363000000	USD
CY2015Q1	us-gaap	Intangible Assets Net Excluding Goodwill IntangibleAssetsNetExcludingGoodwill	479000000	USD
CY2014Q1	us-gaap	Interest Costs Capitalized Adjustment InterestCostsCapitalizedAdjustment	7000000	USD
CY2015Q1	us-gaap	Interest Costs Capitalized Adjustment InterestCostsCapitalizedAdjustment	6000000	USD
CY2014Q1	us-gaap	Interest Expense Debt InterestExpenseDebt	33000000	USD
CY2015Q1	us-gaap	Interest Expense Debt InterestExpenseDebt	32000000	USD
CY2014Q1	us-gaap	Interest On Convertible Debt Net Of Tax InterestOnConvertibleDebtNetOfTax	1000000	USD
CY2015Q1	us-gaap	Interest On Convertible Debt Net Of Tax InterestOnConvertibleDebtNetOfTax	1000000	USD
CY2014Q1	us-gaap	Interest Paid Net InterestPaidNet	34000000	USD
CY2015Q1	us-gaap	Interest Paid Net InterestPaidNet	32000000	USD
CY2014Q1	us-gaap	Investment Income Interest InvestmentIncomeInterest	2000000	USD
CY2015Q1	us-gaap	Investment Income Interest InvestmentIncomeInterest	1000000	USD
CY2014Q1	us-gaap	Labor And Related Expense LaborAndRelatedExpense	1275000000	USD
CY2015Q1	us-gaap	Labor And Related Expense LaborAndRelatedExpense	1419000000	USD
CY2014Q1	us-gaap	Landing Fees And Other Rentals LandingFeesAndOtherRentals	266000000	USD
CY2015Q1	us-gaap	Landing Fees And Other Rentals LandingFeesAndOtherRentals	285000000	USD
CY2014Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	20200000000	USD
CY2015Q1	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	21163000000	USD
CY2014Q4	us-gaap	Liabilities Current LiabilitiesCurrent	5923000000	USD
CY2015Q1	us-gaap	Liabilities Current LiabilitiesCurrent	6903000000	USD
CY2014Q4	us-gaap	Long Term Debt And Capital Lease Obligations LongTermDebtAndCapitalLeaseObligations	2434000000	USD
CY2015Q1	us-gaap	Long Term Debt And Capital Lease Obligations LongTermDebtAndCapitalLeaseObligations	2416000000	USD
CY2014Q4	us-gaap	Long Term Debt And Capital Lease Obligations Current LongTermDebtAndCapitalLeaseObligationsCurrent	258000000	USD
CY2015Q1	us-gaap	Long Term Debt And Capital Lease Obligations Current LongTermDebtAndCapitalLeaseObligationsCurrent	271000000	USD
CY2014Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-375000000	USD
CY2015Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-407000000	USD
CY2014Q1	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-358000000	USD
CY2015Q1	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-302000000	USD
CY2014Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	1119000000	USD
CY2015Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	1452000000	USD
CY2014Q1	us-gaap	Net Income Loss NetIncomeLoss	152000000	USD
CY2015Q1	us-gaap	Net Income Loss NetIncomeLoss	453000000	USD
CY2014Q1	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	153000000	USD
CY2015Q1	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	454000000	USD
CY2014Q1	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	29000000	USD
CY2015Q1	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-57000000	USD
CY2014Q1	us-gaap	Operating Expenses OperatingExpenses	3951000000	USD
CY2015Q1	us-gaap	Operating Expenses OperatingExpenses	3634000000	USD
CY2014Q1	us-gaap	Operating Income Loss OperatingIncomeLoss	215000000	USD
CY2015Q1	us-gaap	Operating Income Loss OperatingIncomeLoss	780000000	USD
CY2014Q4	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	236000000	USD
CY2015Q1	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	192000000	USD
CY2014Q4	us-gaap	Other Assets OtherAssets	534000000	USD
CY2015Q1	us-gaap	Other Assets OtherAssets	623000000	USD
CY2014Q4	us-gaap	Other Assets Miscellaneous OtherAssetsMiscellaneous	123000000	USD
CY2015Q1	us-gaap	Other Assets Miscellaneous OtherAssetsMiscellaneous	109000000	USD
CY2014Q4	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	534000000	USD
CY2015Q1	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	623000000	USD
CY2014Q1	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	-9000000	USD
CY2015Q1	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	-4000000	USD
CY2014Q1	us-gaap	Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent	2000000	USD
CY2015Q1	us-gaap	Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent	0	USD
CY2014Q1	us-gaap	Other Comprehensive Income Loss Tax Portion Attributable To Parent1 OtherComprehensiveIncomeLossTaxPortionAttributableToParent1	1000000	USD
CY2015Q1	us-gaap	Other Comprehensive Income Loss Tax Portion Attributable To Parent1 OtherComprehensiveIncomeLossTaxPortionAttributableToParent1	0	USD
CY2014Q1	us-gaap	Other Cost And Expense Operating OtherCostAndExpenseOperating	526000000	USD
CY2015Q1	us-gaap	Other Cost And Expense Operating OtherCostAndExpenseOperating	497000000	USD
CY2014Q4	us-gaap	Other Deferred Compensation Arrangements Liability Classified Noncurrent OtherDeferredCompensationArrangementsLiabilityClassifiedNoncurrent	174000000	USD
CY2015Q1	us-gaap	Other Deferred Compensation Arrangements Liability Classified Noncurrent OtherDeferredCompensationArrangementsLiabilityClassifiedNoncurrent	164000000	USD
CY2014Q4	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	1255000000	USD
CY2015Q1	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	1095000000	USD
CY2014Q1	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	53000000	USD
CY2015Q1	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-32000000	USD
CY2014Q1	us-gaap	Other Operating Activities Cash Flow Statement OtherOperatingActivitiesCashFlowStatement	-17000000	USD
CY2015Q1	us-gaap	Other Operating Activities Cash Flow Statement OtherOperatingActivitiesCashFlowStatement	-35000000	USD
CY2014Q1	us-gaap	Other Sales Revenue Net OtherSalesRevenueNet	193000000	USD
CY2015Q1	us-gaap	Other Sales Revenue Net OtherSalesRevenueNet	192000000	USD
CY2014Q4	us-gaap	Other Sundry Liabilities Noncurrent OtherSundryLiabilitiesNoncurrent	44000000	USD
CY2015Q1	us-gaap	Other Sundry Liabilities Noncurrent OtherSundryLiabilitiesNoncurrent	37000000	USD
CY2014Q1	us-gaap	Passenger Revenue PassengerRevenue	3933000000	USD
CY2015Q1	us-gaap	Passenger Revenue PassengerRevenue	4178000000	USD
CY2014Q1	us-gaap	Payments For Construction In Process PaymentsForConstructionInProcess	12000000	USD
CY2015Q1	us-gaap	Payments For Construction In Process PaymentsForConstructionInProcess	22000000	USD
CY2014Q1	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	315000000	USD
CY2015Q1	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	300000000	USD
CY2014Q1	us-gaap	Payments Of Dividends Common Stock PaymentsOfDividendsCommonStock	56000000	USD
CY2015Q1	us-gaap	Payments Of Dividends Common Stock PaymentsOfDividendsCommonStock	81000000	USD
CY2014Q1	us-gaap	Payments To Acquire Productive Assets PaymentsToAcquireProductiveAssets	395000000	USD
CY2015Q1	us-gaap	Payments To Acquire Productive Assets PaymentsToAcquireProductiveAssets	573000000	USD
CY2014Q1	us-gaap	Payments To Acquire Short Term Investments PaymentsToAcquireShortTermInvestments	770000000	USD
CY2015Q1	us-gaap	Payments To Acquire Short Term Investments PaymentsToAcquireShortTermInvestments	316000000	USD
CY2014Q4	us-gaap	Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent	169000000	USD
CY2015Q1	us-gaap	Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent	172000000	USD
CY2014Q4	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	232000000	USD
CY2015Q1	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	270000000	USD
CY2015Q1	us-gaap	Price Risk Cash Flow Hedge Unrealized Gain Loss To Be Reclassified During Next12 Months PriceRiskCashFlowHedgeUnrealizedGainLossToBeReclassifiedDuringNext12Months	-291000000	USD
CY2014Q1	us-gaap	Prior Period Reclassification Adjustment PriorPeriodReclassificationAdjustment	-12000000	USD
CY2014Q1	us-gaap	Proceeds From Payments For Other Financing Activities ProceedsFromPaymentsForOtherFinancingActivities	-4000000	USD
CY2015Q1	us-gaap	Proceeds From Payments For Other Financing Activities ProceedsFromPaymentsForOtherFinancingActivities	0	USD
CY2014Q1	us-gaap	Proceeds From Stock Plans ProceedsFromStockPlans	49000000	USD
CY2015Q1	us-gaap	Proceeds From Stock Plans ProceedsFromStockPlans	13000000	USD
CY2014Q4	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	22513000000	USD
CY2015Q1	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	23062000000	USD
CY2014Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	14292000000	USD
CY2015Q1	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	14607000000	USD
CY2014Q4	us-gaap	Property Plant And Equipment Other PropertyPlantAndEquipmentOther	2853000000	USD
CY2015Q1	us-gaap	Property Plant And Equipment Other PropertyPlantAndEquipmentOther	2899000000	USD
CY2014Q1	us-gaap	Repayments Of Long Term Debt And Capital Securities RepaymentsOfLongTermDebtAndCapitalSecurities	46000000	USD
CY2015Q1	us-gaap	Repayments Of Long Term Debt And Capital Securities RepaymentsOfLongTermDebtAndCapitalSecurities	51000000	USD
CY2014Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	7416000000	USD
CY2015Q1	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	7829000000	USD
CY2014Q1	us-gaap	Revenues Revenues	4166000000	USD
CY2015Q1	us-gaap	Revenues Revenues	4414000000	USD
CY2014Q4	us-gaap	Sale Leaseback Transaction Deferred Gain Net SaleLeasebackTransactionDeferredGainNet	53000000	USD
CY2015Q1	us-gaap	Sale Leaseback Transaction Deferred Gain Net SaleLeasebackTransactionDeferredGainNet	51000000	USD
CY2014Q4	us-gaap	Short Term Investments ShortTermInvestments	1706000000	USD
CY2015Q1	us-gaap	Short Term Investments ShortTermInvestments	1413000000	USD
CY2014Q4	us-gaap	Stockholders Equity StockholdersEquity	6775000000	USD
CY2015Q1	us-gaap	Stockholders Equity StockholdersEquity	6902000000	USD
CY2014Q4	us-gaap	Taxes Payable Current TaxesPayableCurrent	163000000	USD
CY2015Q1	us-gaap	Taxes Payable Current TaxesPayableCurrent	229000000	USD
CY2014Q4	us-gaap	Treasury Stock Value TreasuryStockValue	2026000000	USD
CY2015Q1	us-gaap	Treasury Stock Value TreasuryStockValue	2322000000	USD
CY2014Q1	us-gaap	Unrealized Gain Loss On Derivatives And Commodity Contracts UnrealizedGainLossOnDerivativesAndCommodityContracts	60000000	USD
CY2015Q1	us-gaap	Unrealized Gain Loss On Derivatives And Commodity Contracts UnrealizedGainLossOnDerivativesAndCommodityContracts	-11000000	USD
CY2014Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	707000000	shares
CY2015Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	682000000	shares
CY2014Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	698000000	shares
CY2015Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	674000000	shares
CY2014Q4	us-gaap	Workers Compensation Liability Current WorkersCompensationLiabilityCurrent	165000000	USD
CY2015Q1	us-gaap	Workers Compensation Liability Current WorkersCompensationLiabilityCurrent	166000000	USD
CY2015Q1	us-gaap	Basis Of Accounting BasisOfAccounting	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">BASIS OF PRESENTATION</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Southwest Airlines Co. (the “Company”) operates Southwest Airlines, a major domestic airline. The unaudited Condensed Consolidated Financial Statements include accounts of the Company and its wholly owned subsidiaries, which include AirTran Holdings, LLC, the parent company of AirTran Airways, Inc. (“AirTran Airways”). On May 2, 2011 (the “acquisition date”), the Company acquired all of the outstanding equity of AirTran Holdings, Inc. (“AirTran Holdings”), the former parent company of AirTran Airways. Throughout this Form 10-Q, the Company makes reference to AirTran, which is meant to be inclusive of the following: (i) for periods prior to the acquisition date, AirTran Holdings and its subsidiaries, including, among others, AirTran Airways; and (ii) for periods on and after the acquisition date, AirTran Holdings, LLC, the successor to AirTran Holdings, and its subsidiaries, including among others, AirTran Airways. AirTran's final passenger service was on December 28, 2014. Although the vast majority of integration costs were incurred in periods prior to 2015, the Company continues to incur costs associated with the integration of AirTran, and those costs are included in Acquisition and integration costs in the accompanying unaudited Condensed Consolidated Statement of Comprehensive Income.</font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">The accompanying unaudited Condensed Consolidated Financial Statements of the Company and its subsidiaries have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles in the United States (“GAAP”) for complete financial statements. The unaudited Condensed Consolidated Financial Statements for the interim periods ended </font><font style="font-family:Times New Roman;font-size:11pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">March 31, 2015</font><font style="font-family:inherit;font-size:11pt;"> and </font><font style="font-family:Times New Roman;font-size:11pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">2014</font><font style="font-family:inherit;font-size:11pt;"> include all adjustments which are, in the opinion of management, necessary for a fair presentation of the results for the interim periods. This includes all normal and recurring adjustments and elimination of significant intercompany transactions. Financial results for the Company and airlines in general can be seasonal in nature. In many years, the Company's revenues, as well as its operating income and net income, have been better in its second and third fiscal quarters than in its first and fourth fiscal quarters. Air travel is also significantly impacted by general economic conditions, the amount of disposable income available to consumers, unemployment levels, corporate travel budgets, and other factors beyond the Company's control. These and other factors, such as the price of jet fuel in some periods, the nature of the Company's fuel hedging program, the periodic volatility of commodities used by the Company for hedging jet fuel, and the requirements related to hedge accounting, have created, and may continue to create, significant volatility in the Company's financial results. See</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:11pt;color:#000000;text-decoration:none;">Note 3</font><font style="font-family:inherit;font-size:11pt;"> for further information on fuel and the Company's hedging program. Operating results for the </font><font style="font-family:inherit;font-size:11pt;">three</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:11pt;">months ended </font><font style="font-family:inherit;font-size:11pt;color:#000000;text-decoration:none;">March 31, 2015</font><font style="font-family:inherit;font-size:11pt;">, are not necessarily indicative of the results that may be expected for future quarters or for the year ended </font><font style="font-family:inherit;font-size:11pt;color:#000000;text-decoration:none;">December 31, 2015</font><font style="font-family:inherit;font-size:11pt;">. For further information, refer to the Consolidated Financial Statements and footnotes thereto included in the Southwest Airlines Co. Annual Report on Form 10-K for the year ended </font><font style="font-family:inherit;font-size:11pt;">December 31, 2014</font><font style="font-family:inherit;font-size:11pt;">.</font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">During fourth quarter 2014, the Company increased the amount of spoilage recorded associated with frequent flyer points sold to business partners as a result of continued monitoring of Member redemption activity and behavior under its Rapid Rewards program. Based on a sufficient amount of historical data and Member attributes observed since the new program was launched in 2011, the Company developed a predictive statistical model to analyze the amount of spoilage expected. In estimating spoilage, the Company takes into account the Member’s past behavior, as well as several factors that are expected to be indicative of the likelihood of future point redemption. These factors include, but are not limited to, tenure with program, points accrued in the program, and whether or not the Customer has a co-branded credit card. This change in estimate, which was recorded on a prospective basis, effective October 1, 2014, increased Passenger revenues by approximately </font><font style="font-family:inherit;font-size:11pt;">$43 million</font><font style="font-family:inherit;font-size:11pt;"> for the </font><font style="font-family:inherit;font-size:11pt;">three months ended</font><font style="font-family:inherit;font-size:11pt;"> </font><font style="font-family:inherit;font-size:11pt;color:#000000;text-decoration:none;">March 31, 2015</font><font style="font-family:inherit;font-size:11pt;">. After consideration of profitsharing and taxes, the impact of this change to net income was an increase of </font><font style="font-family:inherit;font-size:11pt;">$23 million</font><font style="font-family:inherit;font-size:11pt;">, or </font><font style="font-family:inherit;font-size:11pt;">$.03</font><font style="font-family:inherit;font-size:11pt;"> per Basic and Diluted share, for the </font><font style="font-family:inherit;font-size:11pt;">three months ended</font><font style="font-family:inherit;font-size:11pt;"> </font><font style="font-family:inherit;font-size:11pt;color:#000000;text-decoration:none;">March 31, 2015</font><font style="font-family:inherit;font-size:11pt;">. The higher spoilage rate is expected to continue through 2015; however, the precise revenue impact will not be determinable until the actual number of point redemptions for the period is known.</font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Certain prior period amounts have been reclassified to conform to the current presentation. In the Consolidated Statement of Cash Flows for the </font><font style="font-family:inherit;font-size:11pt;">three</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:11pt;">months ended </font><font style="font-family:inherit;font-size:11pt;">March 31, 2014</font><font style="font-family:inherit;font-size:11pt;">, the Company has reclassified </font><font style="font-family:inherit;font-size:11pt;">$12 million</font><font style="font-family:inherit;font-size:11pt;"> from Capital expenditures to Assets constructed for others. See Note </font><font style="font-family:inherit;font-size:11pt;">7</font><font style="font-family:inherit;font-size:11pt;"> for further information.</font></div></div>

Files In Submission

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$LUV
SOUTHWEST AIRLINES CO Stock $luv

2015 Q1 Form 10-Q Financial Statement

#000009238015000042 Filed on April 30, 2015

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$LUV SOUTHWEST AIRLINES CO Stock $luv

2015 Q1 Form 10-Q Financial Statement

#000009238015000042 Filed on April 30, 2015

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$LUV
SOUTHWEST AIRLINES CO Stock $luv