2020 Q4 Form 10-K Financial Statement

#000009238021000033 Filed on February 08, 2021

View on sec.gov

Income Statement

Concept 2020 Q4 2020 Q3 2020 Q2
Revenue $2.013B $1.793B $1.008B
YoY Change -64.86% -68.2% -82.94%
Cost Of Revenue $660.0M $687.0M $532.0M
YoY Change -53.91% -52.13% -64.37%
Gross Profit $1.353B $1.106B $476.0M
YoY Change -68.52% -73.69% -89.22%
Gross Profit Margin 67.21% 61.68% 47.22%
Selling, General & Admin $1.719B $1.863B $1.854B
YoY Change -34.01% -21.06% -23.48%
% of Gross Profit 127.05% 168.44% 389.5%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $315.0M $316.0M $313.0M
YoY Change 0.64% 2.6% 3.99%
% of Gross Profit 23.28% 28.57% 65.76%
Operating Expenses $2.555B $2.666B $2.609B
YoY Change -29.67% -44.69% -47.2%
Operating Profit -$1.169B -$1.411B -$1.127B
YoY Change -275.79% -272.28% -216.43%
Interest Expense -$100.0M -$96.00M -$80.00M
YoY Change -10100.0% -420.0% -358.06%
% of Operating Profit
Other Income/Expense, Net -$63.00M -$131.0M -$112.0M
YoY Change
Pretax Income -$1.331B -$1.542B -$1.239B
YoY Change -299.85% -288.28% -228.0%
Income Tax -$423.0M -$385.0M -$324.0M
% Of Pretax Income
Net Earnings -$908.0M -$1.157B -$915.0M
YoY Change -276.65% -275.57% -223.48%
Net Earnings / Revenue -45.11% -64.53% -90.77%
Basic Earnings Per Share -$1.54 -$1.96 -$1.63
Diluted Earnings Per Share -$1.54 -$1.96 -$1.63
COMMON SHARES
Basic Shares Outstanding 590.3M shares 590.0M shares 563.0M shares
Diluted Shares Outstanding 590.0M shares 563.0M shares

Balance Sheet

Concept 2020 Q4 2020 Q3 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $13.33B $14.56B $14.46B
YoY Change 227.46% 262.6% 262.69%
Cash & Equivalents $11.06B $12.11B $12.35B
Short-Term Investments $2.271B $2.453B $2.106B
Other Short-Term Assets $295.0M $248.0M $223.0M
YoY Change 2.79% 3.77% -20.64%
Inventory $414.0M $426.0M $422.0M
Prepaid Expenses
Receivables $46.00M $514.0M $480.0M
Other Receivables $35.00M $12.00M $21.00M
Total Short-Term Assets $15.17B $16.13B $15.87B
YoY Change 153.98% 185.54% 185.78%
LONG-TERM ASSETS
Property, Plant & Equipment $15.83B $16.06B $16.25B
YoY Change -7.01% -10.01% -8.38%
Goodwill $970.0M $970.0M $970.0M
YoY Change 0.0% 0.0% 0.0%
Intangibles $295.0M $295.0M $295.0M
YoY Change -0.34% -5.14% -5.45%
Long-Term Investments
YoY Change
Other Assets $722.0M $679.0M $662.0M
YoY Change 25.13% 3.98% -4.47%
Total Long-Term Assets $19.42B $19.47B $19.72B
YoY Change -2.54% -6.46% -5.26%
TOTAL ASSETS
Total Short-Term Assets $15.17B $16.13B $15.87B
Total Long-Term Assets $19.42B $19.47B $19.72B
Total Assets $34.59B $35.61B $35.60B
YoY Change 33.57% 34.53% 34.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $931.0M $980.0M $970.0M
YoY Change -40.85% -23.08% -27.07%
Accrued Expenses $2.259B $1.836B $2.372B
YoY Change 29.16% 26.1% 80.38%
Deferred Revenue $3.790B $3.952B $4.988B
YoY Change -14.97%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $220.0M $720.0M $695.0M
YoY Change -73.14% 13.03% 6.27%
Total Short-Term Liabilities $7.506B $7.804B $9.361B
YoY Change -16.15% -9.56% 8.71%
LONG-TERM LIABILITIES
Long-Term Debt $10.11B $10.14B $8.905B
YoY Change 447.72% 322.64% 263.62%
Other Long-Term Liabilities $1.247B $1.233B $722.0M
YoY Change 76.63% 91.46% 12.99%
Total Long-Term Liabilities $1.247B $1.233B $722.0M
YoY Change 76.63% 91.46% 12.99%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.506B $7.804B $9.361B
Total Long-Term Liabilities $1.247B $1.233B $722.0M
Total Liabilities $8.753B $9.037B $10.08B
YoY Change -9.37% -2.55% 9.01%
SHAREHOLDERS EQUITY
Retained Earnings $14.78B $15.69B $16.84B
YoY Change -17.65% -10.5% -0.71%
Common Stock $5.079B $5.063B $5.047B
YoY Change 112.6% 114.35% 115.5%
Preferred Stock
YoY Change
Treasury Stock (at cost) $10.88B $10.88B $10.88B
YoY Change 4.16% 9.95% 15.83%
Treasury Stock Shares 297.6M shares
Shareholders Equity $8.876B $9.769B $10.88B
YoY Change
Total Liabilities & Shareholders Equity $34.59B $35.61B $35.60B
YoY Change 33.57% 34.53% 34.97%

Cashflow Statement

Concept 2020 Q4 2020 Q3 2020 Q2
OPERATING ACTIVITIES
Net Income -$908.0M -$1.157B -$915.0M
YoY Change -276.65% -275.57% -223.48%
Depreciation, Depletion And Amortization $315.0M $316.0M $313.0M
YoY Change 0.64% 2.6% 3.99%
Cash From Operating Activities -$596.0M -$1.050B $897.0M
YoY Change -172.33% -196.24% -7.14%
INVESTING ACTIVITIES
Capital Expenditures -$90.00M -$89.00M -$112.0M
YoY Change -65.52% -76.33% -51.3%
Acquisitions
YoY Change
Other Investing Activities $181.0M -$345.0M $444.0M
YoY Change -55.31% -2214.29%
Cash From Investing Activities $91.00M -$434.0M $332.0M
YoY Change -36.81% 20.89% -231.75%
FINANCING ACTIVITIES
Cash Dividend Paid $0.00 $0.00
YoY Change -100.0% -100.0%
Common Stock Issuance & Retirement, Net $0.00 -$2.294B
YoY Change -100.0% -609.78%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -541.0M $1.242B $7.182B
YoY Change -40.42% -280.0% -1273.53%
NET CHANGE
Cash From Operating Activities -596.0M -$1.050B $897.0M
Cash From Investing Activities 91.00M -$434.0M $332.0M
Cash From Financing Activities -541.0M $1.242B $7.182B
Net Change In Cash -1.046B -$242.0M $8.411B
YoY Change -1843.33% -676.19% 8146.08%
FREE CASH FLOW
Cash From Operating Activities -$596.0M -$1.050B $897.0M
Capital Expenditures -$90.00M -$89.00M -$112.0M
Free Cash Flow -$506.0M -$961.0M $1.009B
YoY Change -146.64% -165.51% -15.64%

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CY2020Q4 luv Total Employees Who Participated In Extended Emergency Time Off During2020 Who Were Still On Emergency Time Off At December312020
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10421 employees
CY2020 us-gaap Concentration Risk Credit Risk
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<div style="text-indent:11.25pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Concentration Risk</span></div><div style="text-indent:11.25pt"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Approximately 83 percent of the Company’s full-time equivalent Employees are unionized and are covered by collective-bargaining agreements. A percentage of the Company's unionized Employees, including its Pilots, Flight Attendants, Customer Service Agents, Dispatchers, Aircraft Appearance Technicians, and Meteorologists, which had contracts that became amendable on or before December 31, 2020, are in discussions on labor agreements. Those unionized Employee groups in discussions represent approximately 55 percent of the Company’s full-time equivalent Employees as of December 31, 2020. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">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.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">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’s hedging program. See Note 11 for further information.</span></div><div style="text-align:justify;text-indent:31.5pt"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">As of December 31, 2020, the Company operated an all-Boeing fleet, all of which are variations of the Boeing 737. The Boeing 737 MAX aircraft ("MAX") are crucial to the Company’s growth plans and fleet modernization initiatives. On March 13, 2019, the FAA issued an emergency order for all U.S. airlines to ground the MAX aircraft, including the 34 MAX aircraft in the Company's fleet. On November 18, 2020, the FAA rescinded its order to ground the MAX fleet. The Company is currently working to meet the FAA's requirements by modifying certain operating procedures, implementing enhanced Pilot training requirements, installing FAA-approved flight control software updates, and completing other required maintenance tasks specific to the MAX aircraft. The Company currently estimates that the MAX will return to service on March 11, 2021 after all active Pilots have received updated, MAX-related training. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The MAX fleet grounding has adversely affected the Company's operating results, and could have a material adverse effect on the Company's operating results in future periods. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Boeing no longer manufactures versions of the 737 other than the 737 MAX family of aircraft. If the 737 MAX aircraft were to again become unavailable for the Company’s flight operations, the Company’s growth would be restricted unless and until it could procure and operate other types of aircraft from Boeing or another manufacturer, seller, or lessor, and the Company’s operations would be materially adversely affected. In particular, if the Company’s growth were to be dependent upon the introduction of a new aircraft make and model to the Company’s fleet, the Company would need to, among other things, (i) develop and implement new maintenance, operating, and training programs, (ii) secure extensive regulatory approvals, and (iii) implement new technologies. The requirements associated with operating a new aircraft make and model could take an extended period of time to fulfill and would likely impose substantial costs on the Company. A shift away from a single fleet type could also add complexity to the Company’s operations, present operational and compliance risks, and materially increase the Company's costs. Any of these events would have a material, adverse effect on the Company's business, operating results, and financial condition. The Company could also be materially adversely affected if the pricing or operational attributes of its aircraft were to become less competitive. See Note 17 for further information. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company is also dependent on sole or limited suppliers for aircraft engines and certain other aircraft parts and services and would, therefore, also be materially adversely impacted in the event of the unavailability of, inadequate support for, or a mechanical or regulatory issue associated with, engines and other parts.</span></div><div style="text-align:justify;text-indent:31.5pt"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">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. Some of these agreements automatically renew on an annual basis, unless either party objects to such extension. None of these agreements are more than 10 years in length. The Company believes the financial benefits generated by the exclusivity aspects of these arrangements outweigh the risks involved with such agreements.</span></div>
CY2020Q4 luv Percentage Of Employees Represented By Unions Under Collective Bargaining Agreements In Negotiations
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0.55
CY2020Q4 luv Number Of Aircraft Grounded Under Emergency Order On March132019
NumberOfAircraftGroundedUnderEmergencyOrderOnMarch132019
34 aircraft
CY2020 luv Maximum Length Of Agreements With Co Brand Payment And Loyalty Partners
MaximumLengthOfAgreementsWithCoBrandPaymentAndLoyaltyPartners
P10Y
CY2020 luv Cash Raised Net Of Fees
CashRaisedNetOfFees
18900000000 USD
CY2020Q4 luv Proceedsfrom Payroll Support Program Grant
ProceedsfromPayrollSupportProgramGrant
3400000000 USD
CY2020Q4 luv Total Proceeds To Be Provided To Us Airlines From Payroll Support Program Extension Grant Of Consolidated Appropriations Act
TotalProceedsToBeProvidedToUSAirlinesFromPayrollSupportProgramExtensionGrantOfConsolidatedAppropriationsAct
15000000000 USD
CY2020Q4 luv Proceeds From Payroll Support Program Extension Grant Of Consolidated Appropriations Act That Will Be Used To Offset Salaries Wages And Benefits Expenses In1 Q21
ProceedsFromPayrollSupportProgramExtensionGrantOfConsolidatedAppropriationsActThatWillBeUsedToOffsetSalariesWagesAndBenefitsExpensesIn1Q21
1700000000 USD
CY2020Q4 luv Unsecured Term Loan To Be Issued Through Payroll Support Program Extension Of Consolidated Appropriations Act
UnsecuredTermLoanToBeIssuedThroughPayrollSupportProgramExtensionOfConsolidatedAppropriationsAct
259000000 USD
CY2020Q4 luv Voluntary Separation Program2020 Participants
VoluntarySeparationProgram2020Participants
4200 employees
CY2020Q4 luv Total Employees Who Participated In Extended Emergency Time Off During2020
TotalEmployeesWhoParticipatedInExtendedEmergencyTimeOffDuring2020
11000 employees
CY2020 luv Costs Incurred For Voluntary Separation Program2020 And Extended Eto
CostsIncurredForVoluntarySeparationProgram2020AndExtendedETO
1400000000 USD
CY2020 luv Proceeds From Payroll Support Program Grant Allocated To Fund Salaries Wages And Benefits
ProceedsFromPayrollSupportProgramGrantAllocatedToFundSalariesWagesAndBenefits
2300000000 USD
CY2020 luv Extended Emergency Time Off Accrual For Employees Who Accepted Through2020
ExtendedEmergencyTimeOffAccrualForEmployeesWhoAcceptedThrough2020
620000000 USD
CY2020 luv Voluntary Separation Program2020 And Extended Emergency Time Off Relieved From Accrual For Employees Who Accepted Through December312020
VoluntarySeparationProgram2020AndExtendedEmergencyTimeOffRelievedFromAccrualForEmployeesWhoAcceptedThroughDecember312020
454000000 USD
CY2020Q4 luv Voluntary Separation Program2020 And Extended Emergency Time Off Total Accrued
VoluntarySeparationProgram2020AndExtendedEmergencyTimeOffTotalAccrued
914000000 USD
CY2020 us-gaap Gain Loss On Sales Of Assets And Asset Impairment Charges
GainLossOnSalesOfAssetsAndAssetImpairmentCharges
-32000000 USD
CY2020Q4 luv Number Of Aircraft In Long Term Storage
NumberOfAircraftInLongTermStorage
92 aircraft
CY2020Q4 us-gaap Goodwill
Goodwill
970000000 USD
CY2020 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
CY2020 us-gaap Net Income Loss
NetIncomeLoss
-3074000000 USD
CY2019 us-gaap Net Income Loss
NetIncomeLoss
2300000000 USD
CY2018 us-gaap Net Income Loss
NetIncomeLoss
2465000000 USD
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
565000000 shares
CY2019 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
538000000 shares
CY2018 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
573000000 shares
CY2020 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2019 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1000000 shares
CY2018 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1000000 shares
CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
565000000 shares
CY2019 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
539000000 shares
CY2018 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
574000000 shares
CY2020 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-5.44
CY2019 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
4.28
CY2018 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
4.30
CY2020 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-5.44
CY2019 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
4.27
CY2018 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
4.29
CY2020Q4 luv Number Of Aircraft Grounded Under Emergency Order On March132019
NumberOfAircraftGroundedUnderEmergencyOrderOnMarch132019
34 aircraft
CY2020Q4 luv Property Plant And Equipment Total Number Of Aircraft Expected To Be Leased In4 Q20 And2021
PropertyPlantAndEquipmentTotalNumberOfAircraftExpectedToBeLeasedIn4Q20And2021
16 aircraft
CY2020Q4 luv Total Capital Commitments Shifting Into Future Periods Associated With Contractual Obligations That Did Not Take Place In2019 Or2020
TotalCapitalCommitmentsShiftingIntoFuturePeriodsAssociatedWithContractualObligationsThatDidNotTakePlaceIn2019Or2020
2100000000 USD
CY2020Q4 luv Capital Commitments From2019 Shifting Into Future Periods Associated With Contractual Obligations That Did Not Take Place In2019 Or2020
CapitalCommitmentsFrom2019ShiftingIntoFuturePeriodsAssociatedWithContractualObligationsThatDidNotTakePlaceIn2019Or2020
743000000 USD
CY2020Q4 luv Capital Commitments From2020 Shifting Into Future Periods Associated With Contractual Obligations That Did Not Take Place In2019 Or2020
CapitalCommitmentsFrom2020ShiftingIntoFuturePeriodsAssociatedWithContractualObligationsThatDidNotTakePlaceIn2019Or2020
1300000000 USD
CY2020Q4 luv Assets Constructed For Others
AssetsConstructedForOthers
309000000 USD
CY2019Q4 luv Assets Constructed For Others
AssetsConstructedForOthers
164000000 USD
CY2020Q4 luv Air Traffic Liability Passenger Revenueand Ancillary Passenger Services
AirTrafficLiabilityPassengerRevenueandAncillaryPassengerServices
2686000000 USD
CY2019Q4 luv Air Traffic Liability Passenger Revenueand Ancillary Passenger Services
AirTrafficLiabilityPassengerRevenueandAncillaryPassengerServices
2125000000 USD
CY2020Q4 luv Air Traffic Liability Loyalty Program
AirTrafficLiabilityLoyaltyProgram
4447000000 USD
CY2019Q4 luv Air Traffic Liability Loyalty Program
AirTrafficLiabilityLoyaltyProgram
3385000000 USD
CY2020Q4 luv Air Traffic Liability Total
AirTrafficLiabilityTotal
7133000000 USD
CY2019Q4 luv Air Traffic Liability Total
AirTrafficLiabilityTotal
5510000000 USD
CY2019Q4 us-gaap Deferred Revenue
DeferredRevenue
3385000000 USD
CY2018Q4 us-gaap Deferred Revenue
DeferredRevenue
3011000000 USD
CY2020 luv Revenue Amounts Deferred Associated With Points Awarded
RevenueAmountsDeferredAssociatedWithPointsAwarded
1958000000 USD
CY2019 luv Revenue Amounts Deferred Associated With Points Awarded
RevenueAmountsDeferredAssociatedWithPointsAwarded
2941000000 USD
CY2020 luv Passenger Revenue Recognized From Points Redeemed
PassengerRevenueRecognizedFromPointsRedeemed
-1003000000 USD
CY2019 luv Passenger Revenue Recognized From Points Redeemed
PassengerRevenueRecognizedFromPointsRedeemed
-2487000000 USD
CY2020 luv Other Revenue Recognized From Points Redeemed
OtherRevenueRecognizedFromPointsRedeemed
-60000000 USD
CY2019 luv Other Revenue Recognized From Points Redeemed
OtherRevenueRecognizedFromPointsRedeemed
-80000000 USD
CY2020 luv Unused Funds Converted To Loyalty Points
UnusedFundsConvertedToLoyaltyPoints
167000000 USD
CY2019 luv Unused Funds Converted To Loyalty Points
UnusedFundsConvertedToLoyaltyPoints
0 USD
CY2020Q4 us-gaap Deferred Revenue
DeferredRevenue
4447000000 USD
CY2019Q4 us-gaap Deferred Revenue
DeferredRevenue
3385000000 USD
CY2019Q4 luv Air Traffic Liability Total
AirTrafficLiabilityTotal
5510000000 USD
CY2020 luv Air Traffic Liability Current Period Sales
AirTrafficLiabilityCurrentPeriodSales
9348000000 USD
CY2020Q4 us-gaap Long Term Debt And Capital Lease Obligations Maturities Repayments Of Principal In Year Two
LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalInYearTwo
524000000 USD
CY2020 luv Air Traffic Liability Revenueamountsinbeginningbalance
AirTrafficLiabilityRevenueamountsinbeginningbalance
-2317000000 USD
CY2020 luv Air Traffic Liability Revenuefrom Current Period Sales
AirTrafficLiabilityRevenuefromCurrentPeriodSales
-5408000000 USD
CY2020Q4 luv Air Traffic Liability Total
AirTrafficLiabilityTotal
7133000000 USD
CY2018Q4 luv Air Traffic Liability Total
AirTrafficLiabilityTotal
5070000000 USD
CY2019 luv Air Traffic Liability Current Period Sales
AirTrafficLiabilityCurrentPeriodSales
21296000000 USD
CY2019 luv Air Traffic Liability Revenueamountsinbeginningbalance
AirTrafficLiabilityRevenueamountsinbeginningbalance
-3816000000 USD
CY2019 luv Air Traffic Liability Revenuefrom Current Period Sales
AirTrafficLiabilityRevenuefromCurrentPeriodSales
-17040000000 USD
CY2019Q4 luv Air Traffic Liability Total
AirTrafficLiabilityTotal
5510000000 USD
CY2020Q4 luv Residual Travel Funds
ResidualTravelFunds
0.28
CY2019Q4 luv Residual Travel Funds
ResidualTravelFunds
0.02
CY2020Q4 luv Contract With Customer Liability Current Customer Travel Funds
ContractWithCustomerLiabilityCurrentCustomerTravelFunds
2100000000 USD
CY2020 luv Contract With Customer Liability Current Customer Travel Funds Expiration Date As Of December312020
ContractWithCustomerLiabilityCurrentCustomerTravelFundsExpirationDateAsOfDecember312020
2022-09-07
CY2020Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
542000000 USD
CY2019Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
627000000 USD
CY2020Q4 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
10381000000 USD
CY2019Q4 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
2678000000 USD
CY2020Q4 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
220000000 USD
CY2019Q4 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
819000000 USD
CY2020Q4 us-gaap Deferred Finance Costs Gross
DeferredFinanceCostsGross
50000000 USD
CY2019Q4 us-gaap Deferred Finance Costs Gross
DeferredFinanceCostsGross
13000000 USD
CY2020Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
10111000000 USD
CY2019Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
1846000000 USD
CY2020 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
48000000 USD
CY2020 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
5000000 USD
CY2020Q4 luv Required Minimum Liquidity Levelat All Times After March312021
RequiredMinimumLiquidityLevelatAllTimesAfterMarch312021
1500000000 USD
CY2020Q4 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
138000000 USD
CY2020Q4 us-gaap Pledged Assets Separately Reported Securities Pledged As Collateral At Fair Value
PledgedAssetsSeparatelyReportedSecuritiesPledgedAsCollateralAtFairValue
2100000000 USD
CY2020Q4 us-gaap Long Term Debt And Capital Lease Obligations Repayments Of Principal In Next Twelve Months
LongTermDebtAndCapitalLeaseObligationsRepaymentsOfPrincipalInNextTwelveMonths
220000000 USD
CY2020Q4 us-gaap Long Term Debt And Capital Lease Obligations Maturities Repayments Of Principal In Year Three
LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalInYearThree
1400000000 USD
CY2020Q4 us-gaap Long Term Debt And Capital Lease Obligations Maturities Repayments Of Principal In Year Four
LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalInYearFour
152000000 USD
CY2020Q4 us-gaap Long Term Debt And Capital Lease Obligations Maturities Repayments Of Principal In Year Five
LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalInYearFive
4000000000.0 USD
CY2020Q4 us-gaap Long Term Debt And Capital Lease Obligations Maturities Repayments Of Principal After Year Five
LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalAfterYearFive
4400000000 USD
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Receivable Current
OperatingLeasesFutureMinimumPaymentsReceivableCurrent
41000000 USD
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Two Years
OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears
17000000 USD
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Three Years
OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears
7000000 USD
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Four Years
OperatingLeasesFutureMinimumPaymentsReceivableInFourYears
1000000 USD
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1892000000 USD
CY2019Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1349000000 USD
CY2020Q4 luv Finance Lease Rightof Use Asset Accumulated Depreciation
FinanceLeaseRightofUseAssetAccumulatedDepreciation
567000000 USD
CY2019Q4 luv Finance Lease Rightof Use Asset Accumulated Depreciation
FinanceLeaseRightofUseAssetAccumulatedDepreciation
455000000 USD
CY2020Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
667000000 USD
CY2019Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
779000000 USD
CY2020Q4 luv Lease Rightof Use Asset
LeaseRightofUseAsset
2559000000 USD
CY2019Q4 luv Lease Rightof Use Asset
LeaseRightofUseAsset
2128000000 USD
CY2020Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
306000000 USD
CY2019Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
353000000 USD
CY2020Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
83000000 USD
CY2019Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
85000000 USD
CY2020Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1562000000 USD
CY2019Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
978000000 USD
CY2020Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
459000000 USD
CY2019Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
542000000 USD
CY2020Q4 luv Lease Liability
LeaseLiability
2410000000 USD
CY2019Q4 luv Lease Liability
LeaseLiability
1958000000 USD
CY2020 us-gaap Short Term Lease Cost
ShortTermLeaseCost
1000000 USD
CY2019 us-gaap Short Term Lease Cost
ShortTermLeaseCost
4000000 USD
CY2020 us-gaap Variable Lease Cost
VariableLeaseCost
1260000000 USD
CY2019 us-gaap Variable Lease Cost
VariableLeaseCost
1377000000 USD
CY2020 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
113000000 USD
CY2019 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
116000000 USD
CY2020 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
22000000 USD
CY2019 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
26000000 USD
CY2020 us-gaap Lease Cost
LeaseCost
135000000 USD
CY2019 us-gaap Lease Cost
LeaseCost
142000000 USD
CY2020 us-gaap Operating Lease Payments
OperatingLeasePayments
398000000 USD
CY2019 us-gaap Operating Lease Payments
OperatingLeasePayments
379000000 USD
CY2020 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
22000000 USD
CY2019 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
26000000 USD
CY2020 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
85000000 USD
CY2019 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
85000000 USD
CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
915000000 USD
CY2019 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
230000000 USD
CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
0 USD
CY2019 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
1000000 USD
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P10Y
CY2019Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P9Y
CY2020Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P7Y
CY2019Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P8Y
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.038
CY2019Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.037
CY2020Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.038
CY2019Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.038
CY2020Q4 us-gaap Unrecorded Unconditional Purchase Obligation Balance Sheet Amount
UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount
291000000 USD
CY2020Q4 luv Lessee Operating Lease Lease Notyet Commenced
LesseeOperatingLeaseLeaseNotyetCommenced
9 aircraft
CY2020Q2 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
80500000 shares
CY2020Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
1.00
CY2020Q2 luv Stock Issued During Period Shares New Issues Underwriters Option
StockIssuedDuringPeriodSharesNewIssuesUnderwritersOption
10500000 shares
CY2020Q2 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
28.50
CY2020Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
2700000 shares
CY2020Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
60000000 shares
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
25000000 shares
CY2020 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
17000000 USD
CY2019 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
55000000 USD
CY2018 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
46000000 USD
CY2020Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
29000000 USD
CY2020 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y9M18D
CY2020Q4 luv Stock Available For Issue Number Employee Stock Purchase Plan
StockAvailableForIssueNumberEmployeeStockPurchasePlan
6000000 shares
CY2020 luv Percentage Of Market Value For Shares Available Under Employee Stock Purchase Plan
PercentageOfMarketValueForSharesAvailableUnderEmployeeStockPurchasePlan
0.90
CY2018 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
661000 shares
CY2018Q4 luv Weighted Average Fair Value Of Stock Purchase Right Under Employee Stock Purchase Plan
WeightedAverageFairValueOfStockPurchaseRightUnderEmployeeStockPurchasePlan
50.73
CY2018 luv Aggregate Cost Of Discount Off Market Value For Shares Available Under Employee Stock Purchase Plan
AggregateCostOfDiscountOffMarketValueForSharesAvailableUnderEmployeeStockPurchasePlan
5.64 USD
CY2019 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
821000 shares
CY2019Q4 luv Weighted Average Fair Value Of Stock Purchase Right Under Employee Stock Purchase Plan
WeightedAverageFairValueOfStockPurchaseRightUnderEmployeeStockPurchasePlan
47.60
CY2019 luv Aggregate Cost Of Discount Off Market Value For Shares Available Under Employee Stock Purchase Plan
AggregateCostOfDiscountOffMarketValueForSharesAvailableUnderEmployeeStockPurchasePlan
5.29 USD
CY2020 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
1386000 shares
CY2020Q4 luv Weighted Average Fair Value Of Stock Purchase Right Under Employee Stock Purchase Plan
WeightedAverageFairValueOfStockPurchaseRightUnderEmployeeStockPurchasePlan
34.39
CY2020 luv Aggregate Cost Of Discount Off Market Value For Shares Available Under Employee Stock Purchase Plan
AggregateCostOfDiscountOffMarketValueForSharesAvailableUnderEmployeeStockPurchasePlan
3.82 USD
CY2020 luv Discount Percentage Off Market Value For Shares Available Under Employee Stock Purchase Plan
DiscountPercentageOffMarketValueForSharesAvailableUnderEmployeeStockPurchasePlan
0.10
CY2020 luv Percentageofactualconsumptionhedged
Percentageofactualconsumptionhedged
0.77
CY2020Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
134000000 USD
CY2019Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
112000000 USD
CY2020Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
6000000 USD
CY2019Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
6000000 USD
CY2020Q4 us-gaap Price Risk Cash Flow Hedge Unrealized Gain Loss To Be Reclassified During Next12 Months
PriceRiskCashFlowHedgeUnrealizedGainLossToBeReclassifiedDuringNext12Months
-54000000 USD
CY2020Q4 luv Interest Rate Swap Derivative Aircraft Leases Received In December2020
InterestRateSwapDerivativeAircraftLeasesReceivedInDecember2020
3 aircraft
CY2020Q4 luv Interest Rate Swap Derivative Aircraft Leases Received In December2020
InterestRateSwapDerivativeAircraftLeasesReceivedInDecember2020
3 aircraft
CY2020 luv Payments Of Terminated Interest Rate Derivative Instruments
PaymentsOfTerminatedInterestRateDerivativeInstruments
-59000000 USD
CY2020Q4 luv Maximum Sum Of Derivatives Of Counterparty To Be Included In Other
MaximumSumOfDerivativesOfCounterpartyToBeIncludedInOther
10000000 USD
CY2020Q4 luv Cash Collateral Percent Of Fair Value Fuel Derivatives Contracts
CashCollateralPercentOfFairValueFuelDerivativesContracts
1
CY2020Q4 luv Letterof Credit Percentof Collateral
LetterofCreditPercentofCollateral
1
CY2020Q4 us-gaap Time Deposits
TimeDeposits
425000000 USD
CY2019 luv Fair Value Measurementwith Unobservable Inputs Reconciliation Recurring Basis Gain Loss Includedin Other Comprehensive Income Loss Total
FairValueMeasurementwithUnobservableInputsReconciliationRecurringBasisGainLossIncludedinOtherComprehensiveIncomeLossTotal
-112000000 USD
CY2020 luv Debt Instrument Agreements Not Publicly Held
DebtInstrumentAgreementsNotPubliclyHeld
4 Agreements
CY2020 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
561000000 USD
CY2019 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
1200000000 USD
CY2018 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
1000000000.0 USD
CY2020 luv Defined Contribution Pension Plans Maximum Age Requirement For Paying Medical And Dental Premiums With Accrued Unused Sick Time
DefinedContributionPensionPlansMaximumAgeRequirementForPayingMedicalAndDentalPremiumsWithAccruedUnusedSickTime
P65Y
CY2019Q4 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
288000000 USD
CY2018Q4 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
232000000 USD
CY2020 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
22000000 USD
CY2019 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
17000000 USD
CY2020 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
10000000 USD
CY2019 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
10000000 USD
CY2020 us-gaap Defined Benefit Plan Benefit Obligation Benefits Paid
DefinedBenefitPlanBenefitObligationBenefitsPaid
10000000 USD
CY2019 us-gaap Defined Benefit Plan Benefit Obligation Benefits Paid
DefinedBenefitPlanBenefitObligationBenefitsPaid
9000000 USD
CY2020 us-gaap Defined Benefit Plan Actuarial Gain Loss
DefinedBenefitPlanActuarialGainLoss
63000000 USD
CY2019 us-gaap Defined Benefit Plan Actuarial Gain Loss
DefinedBenefitPlanActuarialGainLoss
-38000000 USD
CY2020 us-gaap Defined Benefit Plan Curtailments
DefinedBenefitPlanCurtailments
53000000 USD
CY2019 us-gaap Defined Benefit Plan Curtailments
DefinedBenefitPlanCurtailments
0 USD
CY2020 us-gaap Defined Benefit Plan Special Termination Benefits
DefinedBenefitPlanSpecialTerminationBenefits
2000000 USD
CY2019 us-gaap Defined Benefit Plan Special Termination Benefits
DefinedBenefitPlanSpecialTerminationBenefits
0 USD
CY2020Q4 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
428000000 USD
CY2019Q4 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
288000000 USD
CY2020 us-gaap Defined Benefit Plan Actuarial Gain Loss
DefinedBenefitPlanActuarialGainLoss
63000000 USD
CY2020Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Next Twelve Months
DefinedBenefitPlanExpectedFutureBenefitPaymentsNextTwelveMonths
24000000 USD
CY2020Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Year Two
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearTwo
25000000 USD
CY2020Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Year Three
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearThree
24000000 USD
CY2020Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Year Four
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFour
24000000 USD
CY2020Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Year Five
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFive
26000000 USD
CY2020Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Five Fiscal Years Thereafter
DefinedBenefitPlanExpectedFutureBenefitPaymentsFiveFiscalYearsThereafter
146000000 USD
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CY2020Q4 us-gaap Net Income Loss
NetIncomeLoss
-908000000 USD
CY2020Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.18
CY2020Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.63
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.96
CY2020Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.54
CY2020Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.18
CY2020Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.63
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.96
CY2020Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.54
CY2019Q1 us-gaap Revenues
Revenues
5149000000 USD
CY2019Q2 us-gaap Revenues
Revenues
5909000000 USD
CY2019Q3 us-gaap Revenues
Revenues
5639000000 USD
CY2019Q4 us-gaap Revenues
Revenues
5729000000 USD
CY2019Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
505000000 USD
CY2019Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
968000000 USD
CY2019Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
819000000 USD
CY2019Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
665000000 USD
CY2019Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
504000000 USD
CY2019Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
968000000 USD
CY2019Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
819000000 USD
CY2019Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
666000000 USD
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
387000000 USD
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
741000000 USD
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
659000000 USD
CY2019Q4 us-gaap Net Income Loss
NetIncomeLoss
514000000 USD
CY2019Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.70
CY2019Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.37
CY2019Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.24
CY2019Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.98
CY2019Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.70
CY2019Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.37
CY2019Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.23
CY2019Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.98
CY2019Q4 luv Discretionary Profitsharingrelatedto Impactof Aircraft Grounded Under Emergency Order
DiscretionaryProfitsharingrelatedtoImpactofAircraftGroundedUnderEmergencyOrder
124000000 USD
CY2019Q4 luv Net Income Impactof2019 Discretionary Profitsharing
NetIncomeImpactof2019DiscretionaryProfitsharing
97000000 USD
CY2019Q4 luv Net Incomeper Share Impactof2019 Discretionary Profitsharing
NetIncomeperShareImpactof2019DiscretionaryProfitsharing
0.18

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