2019 Q2 Form 10-Q Financial Statement

#000009238019000077 Filed on July 30, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q2 2018 Q1
Revenue $5.909B $5.742B $4.944B
YoY Change 2.91% 0.19% 1.85%
Cost Of Revenue $1.493B $1.586B $1.388B
YoY Change -5.86% 12.56% 4.91%
Gross Profit $4.416B $4.156B $3.556B
YoY Change 6.26% -3.84% 0.71%
Gross Profit Margin 74.73% 72.38% 71.93%
Selling, General & Admin $2.423B $2.201B $2.078B
YoY Change 10.09% 4.12% 5.32%
% of Gross Profit 54.87% 52.96% 58.44%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $301.0M $292.0M $277.0M
YoY Change 3.08% -8.46% -12.89%
% of Gross Profit 6.82% 7.03% 7.79%
Operating Expenses $4.941B $4.770B $4.328B
YoY Change 3.58% 5.62% 1.88%
Operating Profit $968.0M $972.0M $616.0M
YoY Change -0.41% -20.0% 1.65%
Interest Expense $31.00M $33.00M $32.00M
YoY Change -6.06% 22.22% 10.34%
% of Operating Profit 3.2% 3.4% 5.19%
Other Income/Expense, Net $0.00 -$12.00M -$14.00M
YoY Change -100.0% -76.0% -81.08%
Pretax Income $968.0M $960.0M $602.0M
YoY Change 0.83% -17.6% 13.16%
Income Tax $227.0M $227.0M $139.0M
% Of Pretax Income 23.45% 23.65% 23.09%
Net Earnings $741.0M $733.0M $463.0M
YoY Change 1.09% -1.35% 36.58%
Net Earnings / Revenue 12.54% 12.77% 9.36%
Basic Earnings Per Share $1.37 $1.27 $0.79
Diluted Earnings Per Share $1.37 $1.27 $0.79
COMMON SHARES
Basic Shares Outstanding 542.0M shares 578.0M shares 587.0M shares
Diluted Shares Outstanding 542.0M shares 579.0M shares 588.0M shares

Balance Sheet

Concept 2019 Q2 2018 Q2 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.986B $3.686B $3.243B
YoY Change 8.14% 16.94% -6.86%
Cash & Equivalents $2.446B $2.114B $1.822B
Short-Term Investments $1.540B $1.572B $1.421B
Other Short-Term Assets $281.0M $498.0M $448.0M
YoY Change -43.57% 99.2% 90.64%
Inventory $510.0M $459.0M $430.0M
Prepaid Expenses
Receivables $777.0M $765.0M $680.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $5.554B $5.408B $4.801B
YoY Change 2.7% 24.52% 3.07%
LONG-TERM ASSETS
Property, Plant & Equipment $17.73B $19.07B $18.77B
YoY Change -6.99% 7.85% 8.6%
Goodwill $970.0M $970.0M $970.0M
YoY Change 0.0% 0.0% 0.0%
Intangibles $312.0M $406.0M $410.0M
YoY Change -23.15% -3.1% -3.07%
Long-Term Investments
YoY Change
Other Assets $693.0M $1.021B $959.0M
YoY Change -32.13% 9.9% 12.96%
Total Long-Term Assets $20.82B $21.06B $20.70B
YoY Change -1.13% 7.55% 8.36%
TOTAL ASSETS
Total Short-Term Assets $5.554B $5.408B $4.801B
Total Long-Term Assets $20.82B $21.06B $20.70B
Total Assets $26.37B $26.47B $25.50B
YoY Change -0.34% 10.64% 7.32%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.330B $1.338B $1.243B
YoY Change -0.6% 9.94% 2.39%
Accrued Expenses $1.315B $1.361B $1.134B
YoY Change -3.38% -12.81% -41.76%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $654.0M $365.0M $365.0M
YoY Change 79.18% 18.89% 28.07%
Total Short-Term Liabilities $8.611B $7.716B $7.162B
YoY Change 11.6% 8.72% -3.97%
LONG-TERM LIABILITIES
Long-Term Debt $2.449B $3.220B $3.302B
YoY Change -23.94% 11.34% 14.02%
Other Long-Term Liabilities $639.0M $692.0M $706.0M
YoY Change -7.66% -2.26% 0.43%
Total Long-Term Liabilities $639.0M $692.0M $706.0M
YoY Change -7.66% -2.26% 0.43%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.611B $7.716B $7.162B
Total Long-Term Liabilities $639.0M $692.0M $706.0M
Total Liabilities $9.250B $8.408B $7.868B
YoY Change 10.01% 7.73% -3.59%
SHAREHOLDERS EQUITY
Retained Earnings $16.96B $14.88B $14.24B
YoY Change 14.01% 20.2% 21.61%
Common Stock $2.342B $2.277B $2.260B
YoY Change 2.85% 2.11% 1.48%
Preferred Stock
YoY Change
Treasury Stock (at cost) $9.394B $7.456B $6.957B
YoY Change 25.99% 28.22% 28.38%
Treasury Stock Shares
Shareholders Equity $9.940B $9.997B $9.619B
YoY Change
Total Liabilities & Shareholders Equity $26.37B $26.47B $25.50B
YoY Change -0.34% 10.64% 7.32%

Cashflow Statement

Concept 2019 Q2 2018 Q2 2018 Q1
OPERATING ACTIVITIES
Net Income $741.0M $733.0M $463.0M
YoY Change 1.09% -1.35% 36.58%
Depreciation, Depletion And Amortization $301.0M $292.0M $277.0M
YoY Change 3.08% -8.46% -12.89%
Cash From Operating Activities $966.0M $1.631B $1.002B
YoY Change -40.77% 118.63% -38.34%
INVESTING ACTIVITIES
Capital Expenditures -$230.0M -$537.0M -$433.0M
YoY Change -57.17% -10.35% -6.48%
Acquisitions
YoY Change
Other Investing Activities -$21.00M -$156.0M $360.0M
YoY Change -86.54% -5242.86%
Cash From Investing Activities -$252.0M -$694.0M -$73.00M
YoY Change -63.69% 18.84% -84.47%
FINANCING ACTIVITIES
Cash Dividend Paid $98.00M $93.00M $148.0M
YoY Change 5.38% 22.37% 20.33%
Common Stock Issuance & Retirement, Net $450.0M $500.0M $500.0M
YoY Change -10.0% 25.0% -9.09%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$612.0M -$645.0M -$602.0M
YoY Change -5.12% 35.5% -38.82%
NET CHANGE
Cash From Operating Activities $966.0M $1.631B $1.002B
Cash From Investing Activities -$252.0M -$694.0M -$73.00M
Cash From Financing Activities -$612.0M -$645.0M -$602.0M
Net Change In Cash $102.0M $292.0M $327.0M
YoY Change -65.07% -192.99% 91.23%
FREE CASH FLOW
Cash From Operating Activities $966.0M $1.631B $1.002B
Capital Expenditures -$230.0M -$537.0M -$433.0M
Free Cash Flow $1.196B $2.168B $1.435B
YoY Change -44.83% 61.19% -31.27%

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BASIS OF PRESENTATION<div style="line-height:120%;font-size:11pt;"><span style="font-family:inherit;font-size:11pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><span style="font-family:inherit;font-size:11pt;">Southwest Airlines Co. (the "Company" or "Southwest") operates Southwest Airlines, a major passenger airline that provides scheduled air transportation in the United States and near-international markets. The unaudited Condensed Consolidated Financial Statements include accounts of the Company and its wholly owned subsidiaries.</span></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><span style="font-family:inherit;font-size:11pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><span 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 </span><span style="font-family:Times New Roman;font-size:11pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">June 30, 2019</span><span style="font-family:inherit;font-size:11pt;"> and </span><span style="font-family:Times New Roman;font-size:11pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">2018</span><span 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, extreme or severe weather and natural disasters, fears of terrorism or war, 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, and the periodic volatility of commodities used by the Company for hedging jet fuel, have created, and may continue to create, significant volatility in the Company's financial results. See</span><span style="font-family:inherit;font-size:10pt;"> </span><span style="font-family:inherit;font-size:11pt;color:#000000;text-decoration:none;">Note 3</span><span style="font-family:inherit;font-size:11pt;"> for further information on fuel and the Company's hedging program. Operating results for the </span><span style="font-family:inherit;font-size:11pt;">three and six months ended</span><span style="font-family:inherit;font-size:10pt;"> </span><span style="font-family:inherit;font-size:11pt;color:#000000;text-decoration:none;">June 30, 2019</span><span 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 </span><span style="font-family:inherit;font-size:11pt;color:#000000;text-decoration:none;">December 31, 2019</span><span style="font-family:inherit;font-size:11pt;">. For further information, refer to the Consolidated Financial Statements and footnotes thereto included in the Company's Annual Report on Form 10-K for the year ended </span><span style="font-family:inherit;font-size:11pt;">December 31, 2018</span><span style="font-family:inherit;font-size:11pt;">.</span></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><span style="font-family:inherit;font-size:11pt;"><br/></span></div><span style="font-family:inherit;font-size:11pt;">Effective as of January 1, 2019, the Company adopted Accounting Standards Update ("ASU") No. 2016-02, Leases, codified in Accounting Standards Codification ("ASC") 842 (the "New Lease Standard"). All amounts and disclosures set forth in this Form 10-Q for the </span><span style="font-family:inherit;font-size:11pt;">three and six months ended</span><span style="font-family:inherit;font-size:11pt;"> </span><span style="font-family:inherit;font-size:11pt;">June 30, 2019</span><span style="font-family:inherit;font-size:11pt;"> reflect the adoption of this ASU, while all periods prior to 2019 remain in accordance with prior accounting requirements. See Note </span><span style="font-family:inherit;font-size:11pt;">2</span> for further information.
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1468000000 USD
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RevenueAmountsDeferredAssociatedWithPointsAwarded
1349000000 USD
CY2019Q2 luv Passenger Revenue Recognized From Points Redeemed
PassengerRevenueRecognizedFromPointsRedeemed
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CY2018Q2 luv Passenger Revenue Recognized From Points Redeemed
PassengerRevenueRecognizedFromPointsRedeemed
-588000000 USD
luv Passenger Revenue Recognized From Points Redeemed
PassengerRevenueRecognizedFromPointsRedeemed
-1158000000 USD
luv Passenger Revenue Recognized From Points Redeemed
PassengerRevenueRecognizedFromPointsRedeemed
-1079000000 USD
CY2019Q2 luv Other Revenue Recognized From Points Redeemed
OtherRevenueRecognizedFromPointsRedeemed
-17000000 USD
CY2018Q2 luv Other Revenue Recognized From Points Redeemed
OtherRevenueRecognizedFromPointsRedeemed
-11000000 USD
luv Other Revenue Recognized From Points Redeemed
OtherRevenueRecognizedFromPointsRedeemed
-32000000 USD
luv Other Revenue Recognized From Points Redeemed
OtherRevenueRecognizedFromPointsRedeemed
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CY2019Q2 us-gaap Deferred Revenue
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3289000000 USD
CY2018Q2 us-gaap Deferred Revenue
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2919000000 USD
CY2019Q2 us-gaap Deferred Revenue
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3289000000 USD
CY2018Q2 us-gaap Deferred Revenue
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2919000000 USD
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5070000000 USD
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11178000000 USD
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AirTrafficLiabilityRevenueamountsinbeginningbalance
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luv Air Traffic Liability Revenuefrom Current Period Sales
AirTrafficLiabilityRevenuefromCurrentPeriodSales
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AirTrafficLiabilityTotal
5984000000 USD
CY2017Q4 luv Air Traffic Liability Total
AirTrafficLiabilityTotal
4565000000 USD
luv Air Traffic Liability Current Period Sales
AirTrafficLiabilityCurrentPeriodSales
10927000000 USD
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AirTrafficLiabilityRevenuefromCurrentPeriodSales
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5530000000 USD
CY2019Q2 us-gaap Net Income Loss
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CY2018Q2 us-gaap Net Income Loss
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1128000000 USD
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542000000 shares
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
578000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
547000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
582000000 shares
CY2019Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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0 shares
CY2018Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1000000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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1000000 shares
CY2019Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
542000000 shares
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
579000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
547000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
583000000 shares
CY2019Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.37
CY2018Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.27
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.06
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.05
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EarningsPerShareDiluted
1.37
CY2018Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.27
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.06
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.05
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
48000000 USD
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
78000000 USD
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
41000000 USD
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
17000000 USD
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
7000000 USD
CY2019Q2 luv Operating Leases Future Minimum Payments Duein Six Years
OperatingLeasesFutureMinimumPaymentsDueinSixYears
1000000 USD
CY2019Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1424000000 USD
CY2019Q2 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
862000000 USD
CY2019Q2 luv Lease Rightof Use Asset
LeaseRightofUseAsset
2286000000 USD
CY2019Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
350000000 USD
CY2019Q2 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
86000000 USD
CY2019Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1072000000 USD
CY2019Q2 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
608000000 USD
CY2019Q2 luv Lease Liability
LeaseLiability
2116000000 USD
CY2019Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
1000000 USD
us-gaap Short Term Lease Cost
ShortTermLeaseCost
2000000 USD
CY2019Q2 us-gaap Variable Lease Cost
VariableLeaseCost
349000000 USD
us-gaap Variable Lease Cost
VariableLeaseCost
679000000 USD
CY2019Q2 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
29000000 USD
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
58000000 USD
CY2019Q2 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
7000000 USD
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
14000000 USD
CY2019Q2 us-gaap Lease Cost
LeaseCost
452000000 USD
us-gaap Lease Cost
LeaseCost
885000000 USD
CY2019Q2 us-gaap Sublease Income
SubleaseIncome
25000000 USD
us-gaap Sublease Income
SubleaseIncome
50000000 USD
CY2019Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
107000000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
203000000 USD
CY2019Q2 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
7000000 USD
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
14000000 USD
CY2019Q2 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
21000000 USD
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
43000000 USD
CY2019Q2 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
5000000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
124000000 USD
CY2019Q2 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
0 USD
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
1000000 USD
CY2019Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P9Y
CY2019Q2 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P8Y
CY2019Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.038
CY2019Q2 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.038
CY2019Q2 us-gaap Unrecorded Unconditional Purchase Obligation Balance Sheet Amount
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600000000 USD
CY2019Q2 luv Lessee Operating Lease Lease Notyet Commenced
LesseeOperatingLeaseLeaseNotyetCommenced
16 aircraft
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Due Current
CapitalLeasesFutureMinimumPaymentsDueCurrent
111000000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
348000000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable Current
OperatingLeasesFutureMinimumPaymentsReceivableCurrent
92000000 USD
CY2018Q4 luv Operating Leases Future Minimum Payments Net Current
OperatingLeasesFutureMinimumPaymentsNetCurrent
256000000 USD
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Due In Two Years
CapitalLeasesFutureMinimumPaymentsDueInTwoYears
109000000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
357000000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Two Years
OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears
78000000 USD
CY2018Q4 luv Operating Leases Future Minimum Payments Net In Two Years
OperatingLeasesFutureMinimumPaymentsNetInTwoYears
279000000 USD
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Due In Three Years
CapitalLeasesFutureMinimumPaymentsDueInThreeYears
105000000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
244000000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Three Years
OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears
41000000 USD
CY2018Q4 luv Operating Leases Future Minimum Payments Net In Three Years
OperatingLeasesFutureMinimumPaymentsNetInThreeYears
203000000 USD
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Due In Four Years
CapitalLeasesFutureMinimumPaymentsDueInFourYears
100000000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
172000000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Four Years
OperatingLeasesFutureMinimumPaymentsReceivableInFourYears
17000000 USD
CY2018Q4 luv Operating Leases Future Minimum Payments Net In Four Years
OperatingLeasesFutureMinimumPaymentsNetInFourYears
155000000 USD
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Due In Five Years
CapitalLeasesFutureMinimumPaymentsDueInFiveYears
97000000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
146000000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Five Years
OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears
7000000 USD
CY2018Q4 luv Operating Leases Future Minimum Payments Net In Five Years
OperatingLeasesFutureMinimumPaymentsNetInFiveYears
139000000 USD
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Due Thereafter
CapitalLeasesFutureMinimumPaymentsDueThereafter
335000000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
474000000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable Thereafter
OperatingLeasesFutureMinimumPaymentsReceivableThereafter
1000000 USD
CY2018Q4 luv Operating Leases Future Minimum Payments Net Thereafter
OperatingLeasesFutureMinimumPaymentsNetThereafter
473000000 USD
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Due
CapitalLeasesFutureMinimumPaymentsDue
857000000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
1741000000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable
OperatingLeasesFutureMinimumPaymentsReceivable
236000000 USD
CY2018Q4 luv Operating Leases Future Minimum Payments Net
OperatingLeasesFutureMinimumPaymentsNet
1505000000 USD
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Interest Included In Payments
CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments
126000000 USD
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Present Value Of Net Minimum Payments
CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments
731000000 USD
CY2018Q4 us-gaap Capital Lease Obligations Current
CapitalLeaseObligationsCurrent
85000000 USD
CY2018Q4 us-gaap Capital Lease Obligations Noncurrent
CapitalLeaseObligationsNoncurrent
646000000 USD
CY2018Q4 us-gaap Lease Incentive Receivable
LeaseIncentiveReceivable
114000000 USD
CY2019Q2 luv Fair Value Measurementwith Unobservable Inputs Reconciliation Recurring Basis Gain Loss Includedin Other Comprehensive Income Loss Total
FairValueMeasurementwithUnobservableInputsReconciliationRecurringBasisGainLossIncludedinOtherComprehensiveIncomeLossTotal
-69000000 USD
luv Fair Value Measurementwith Unobservable Inputs Reconciliation Recurring Basis Gain Loss Includedin Other Comprehensive Income Loss Total
FairValueMeasurementwithUnobservableInputsReconciliationRecurringBasisGainLossIncludedinOtherComprehensiveIncomeLossTotal
22000000 USD
CY2019Q2 luv Derivative Asset Fair Value Amount Offset Against Collateral Total
DerivativeAssetFairValueAmountOffsetAgainstCollateralTotal
120000000 USD
CY2018Q4 luv Derivative Asset Fair Value Amount Offset Against Collateral Total
DerivativeAssetFairValueAmountOffsetAgainstCollateralTotal
95000000 USD
CY2019Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
312000000 USD
CY2018Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
400000000 USD
CY2019Q2 us-gaap Capital Leases Future Minimum Payments Receivable
CapitalLeasesFutureMinimumPaymentsReceivable
54000000 USD
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Receivable
CapitalLeasesFutureMinimumPaymentsReceivable
61000000 USD
CY2019Q2 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
207000000 USD
CY2018Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
164000000 USD
CY2019Q2 us-gaap Other Assets
OtherAssets
693000000 USD
CY2018Q4 us-gaap Other Assets
OtherAssets
720000000 USD
CY2019Q2 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
260000000 USD
CY2018Q4 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
263000000 USD
CY2019Q2 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
205000000 USD
CY2018Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
216000000 USD
CY2019Q2 us-gaap Taxes Payable Current
TaxesPayableCurrent
269000000 USD
CY2018Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
220000000 USD
CY2019Q2 luv Aircraft Maintenance Payable
AircraftMaintenancePayable
74000000 USD
CY2018Q4 luv Aircraft Maintenance Payable
AircraftMaintenancePayable
69000000 USD
CY2019Q2 luv Fuel Payable
FuelPayable
106000000 USD
CY2018Q4 luv Fuel Payable
FuelPayable
122000000 USD
CY2019Q2 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
416000000 USD
CY2018Q4 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
526000000 USD
CY2019Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
1330000000 USD
CY2018Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
1416000000 USD
CY2019Q2 us-gaap Deferred Compensation Cash Based Arrangements Liability Current
DeferredCompensationCashBasedArrangementsLiabilityCurrent
282000000 USD
CY2018Q4 us-gaap Deferred Compensation Cash Based Arrangements Liability Current
DeferredCompensationCashBasedArrangementsLiabilityCurrent
580000000 USD
CY2019Q2 us-gaap Accrued Vacation Current
AccruedVacationCurrent
421000000 USD
CY2018Q4 us-gaap Accrued Vacation Current
AccruedVacationCurrent
403000000 USD
CY2019Q2 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
110000000 USD
CY2018Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
107000000 USD
CY2019Q2 us-gaap Workers Compensation Liability Current
WorkersCompensationLiabilityCurrent
169000000 USD
CY2018Q4 us-gaap Workers Compensation Liability Current
WorkersCompensationLiabilityCurrent
166000000 USD
CY2019Q2 us-gaap Accrual For Taxes Other Than Income Taxes Current
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73000000 USD
CY2018Q4 us-gaap Accrual For Taxes Other Than Income Taxes Current
AccrualForTaxesOtherThanIncomeTaxesCurrent
68000000 USD
CY2019Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
260000000 USD
CY2018Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
425000000 USD
CY2019Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1315000000 USD
CY2018Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1749000000 USD
CY2019Q2 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
240000000 USD
CY2018Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
232000000 USD
CY2019Q2 us-gaap Other Deferred Compensation Arrangements Liability Classified Noncurrent
OtherDeferredCompensationArrangementsLiabilityClassifiedNoncurrent
282000000 USD
CY2018Q4 us-gaap Other Deferred Compensation Arrangements Liability Classified Noncurrent
OtherDeferredCompensationArrangementsLiabilityClassifiedNoncurrent
247000000 USD
CY2019Q2 us-gaap Other Sundry Liabilities Noncurrent
OtherSundryLiabilitiesNoncurrent
117000000 USD
CY2018Q4 us-gaap Other Sundry Liabilities Noncurrent
OtherSundryLiabilitiesNoncurrent
171000000 USD
CY2019Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
639000000 USD
CY2018Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
650000000 USD
CY2019Q2 us-gaap Construction In Progress Gross
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144000000 USD
CY2019Q2 luv Assets Constructed For Others Net
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144000000 USD
CY2019Q2 us-gaap Contractual Obligation
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144000000 USD
CY2018Q4 us-gaap Construction In Progress Gross
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1768000000 USD
CY2018Q4 luv Assets Constructed For Others Net
AssetsConstructedForOthersNet
1637000000 USD
CY2018Q4 us-gaap Contractual Obligation
ContractualObligation
1701000000 USD
CY2019Q2 luv Numberof Aircraft Grounded Under Emergency Order
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34
CY2019Q2 luv Potential Concessionsand Other Considerations
PotentialConcessionsandOtherConsiderations
4900000000 USD

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