2024 Q2 Form 10-Q Financial Statement
#000009238024000055 Filed on April 26, 2024
Income Statement
| Concept | 2024 Q2 | 2024 Q1 |
|---|---|---|
| Revenue | $7.354B | $6.329B |
| YoY Change | 4.5% | 10.92% |
| Cost Of Revenue | $2.110B | $1.995B |
| YoY Change | 13.32% | 2.05% |
| Gross Profit | $5.244B | $4.334B |
| YoY Change | 1.33% | 15.54% |
| Gross Profit Margin | 71.31% | 68.48% |
| Selling, General & Admin | $3.349B | $3.301B |
| YoY Change | 9.55% | 21.45% |
| % of Gross Profit | 63.86% | 76.17% |
| Research & Development | ||
| YoY Change | ||
| % of Gross Profit | ||
| Depreciation & Amortization | $404.0M | $408.0M |
| YoY Change | 10.38% | 11.78% |
| % of Gross Profit | 7.7% | 9.41% |
| Operating Expenses | $4.846B | $4.727B |
| YoY Change | 10.64% | 17.15% |
| Operating Profit | $398.0M | -$393.0M |
| YoY Change | -49.94% | 38.38% |
| Interest Expense | $75.00M | $83.00M |
| YoY Change | -10.71% | 20.29% |
| % of Operating Profit | 18.84% | |
| Other Income/Expense, Net | $5.000M | $95.00M |
| YoY Change | -28.57% | 20.25% |
| Pretax Income | $478.0M | -$298.0M |
| YoY Change | -46.05% | 45.37% |
| Income Tax | $111.0M | -$67.00M |
| % Of Pretax Income | 23.22% | |
| Net Earnings | $367.0M | -$231.0M |
| YoY Change | -46.27% | 45.28% |
| Net Earnings / Revenue | 4.99% | -3.65% |
| Basic Earnings Per Share | $0.61 | -$0.39 |
| Diluted Earnings Per Share | $0.57 | -$0.39 |
| COMMON SHARES | ||
| Basic Shares Outstanding | 598.5M shares | 596.7M shares |
| Diluted Shares Outstanding | 643.0M shares | 597.0M shares |
Balance Sheet
| Concept | 2024 Q2 | 2024 Q1 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $10.00B | $10.51B |
| YoY Change | -17.88% | -9.95% |
| Cash & Equivalents | $8.142B | $8.367B |
| Short-Term Investments | $1.860B | $2.145B |
| Other Short-Term Assets | $619.0M | $603.0M |
| YoY Change | 15.7% | -1.79% |
| Inventory | $784.0M | $812.0M |
| Prepaid Expenses | ||
| Receivables | $1.346B | $58.00M |
| Other Receivables | $0.00 | $132.0M |
| Total Short-Term Assets | $12.75B | $13.28B |
| YoY Change | -13.03% | -6.96% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $20.80B | $19.56B |
| YoY Change | 4.34% | 8.53% |
| Goodwill | $970.0M | $970.0M |
| YoY Change | 0.0% | 0.0% |
| Intangibles | $300.0M | $295.0M |
| YoY Change | 1.35% | 0.0% |
| Long-Term Investments | ||
| YoY Change | ||
| Other Assets | $1.045B | $1.024B |
| YoY Change | 58.09% | 14.03% |
| Total Long-Term Assets | $22.81B | $22.74B |
| YoY Change | 4.36% | 6.89% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $12.75B | $13.28B |
| Total Long-Term Assets | $22.81B | $22.74B |
| Total Assets | $35.56B | $36.02B |
| YoY Change | -2.62% | 1.33% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $2.028B | $1.949B |
| YoY Change | 160.67% | 12.72% |
| Accrued Expenses | $2.068B | $2.400B |
| YoY Change | -31.43% | 13.31% |
| Deferred Revenue | $7.086B | $7.642B |
| YoY Change | -0.49% | 5.89% |
| Short-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Long-Term Debt Due | $2.931B | $28.00M |
| YoY Change | 9354.84% | -12.5% |
| Total Short-Term Liabilities | $14.11B | $12.23B |
| YoY Change | 20.34% | 7.91% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $5.065B | $7.974B |
| YoY Change | -36.64% | -0.31% |
| Other Long-Term Liabilities | $3.831B | $937.0M |
| YoY Change | -3.04% | 0.11% |
| Total Long-Term Liabilities | $8.896B | $937.0M |
| YoY Change | -25.53% | 0.11% |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $14.11B | $12.23B |
| Total Long-Term Liabilities | $8.896B | $937.0M |
| Total Liabilities | $25.10B | $13.16B |
| YoY Change | -2.46% | 7.31% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | $16.22B | $15.96B |
| YoY Change | -2.13% | -0.23% |
| Common Stock | $5.039B | $5.026B |
| YoY Change | 0.96% | 1.62% |
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | $10.47B | $10.20B |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $35.56B | $36.02B |
| YoY Change | -2.62% | 1.33% |
Cashflow Statement
| Concept | 2024 Q2 | 2024 Q1 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | $367.0M | -$231.0M |
| YoY Change | -46.27% | 45.28% |
| Depreciation, Depletion And Amortization | $404.0M | $408.0M |
| YoY Change | 10.38% | 11.78% |
| Cash From Operating Activities | -$24.00M | -$104.0M |
| YoY Change | -101.69% | -114.73% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | $501.0M | $592.0M |
| YoY Change | -46.3% | -43.73% |
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | $295.0M | $7.000M |
| YoY Change | -3.59% | -101.33% |
| Cash From Investing Activities | -$206.0M | -$585.0M |
| YoY Change | -67.15% | -62.9% |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | $0.00 | $215.0M |
| YoY Change | 0.47% | |
| Common Stock Issuance & Retirement, Net | ||
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | 5.000M | -$232.0M |
| YoY Change | -44.44% | -11.45% |
| NET CHANGE | ||
| Cash From Operating Activities | -24.00M | -$104.0M |
| Cash From Investing Activities | -206.0M | -$585.0M |
| Cash From Financing Activities | 5.000M | -$232.0M |
| Net Change In Cash | -225.0M | -$921.0M |
| YoY Change | -128.16% | -18.71% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | -$24.00M | -$104.0M |
| Capital Expenditures | $501.0M | $592.0M |
| Free Cash Flow | -$525.0M | -$696.0M |
| YoY Change | -208.47% | 101.16% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2024Q1 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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Labor And Related Expense
LaborAndRelatedExpense
|
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| CY2023Q1 | us-gaap |
Labor And Related Expense
LaborAndRelatedExpense
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Fuel Costs
FuelCosts
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Fuel Costs
FuelCosts
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Aircraft Maintenance Materials And Repairs
AircraftMaintenanceMaterialsAndRepairs
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Aircraft Maintenance Materials And Repairs
AircraftMaintenanceMaterialsAndRepairs
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Landing Fees And Other Rentals
LandingFeesAndOtherRentals
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Landing Fees And Other Rentals
LandingFeesAndOtherRentals
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Depreciation And Amortization
DepreciationAndAmortization
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Depreciation And Amortization
DepreciationAndAmortization
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Other Cost And Expense Operating
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Other Cost And Expense Operating
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Operating Costs And Expenses
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Operating Costs And Expenses
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Operating Income Loss
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Operating Income Loss
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Interest Costs Incurred
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Interest Costs Incurred
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Interest Costs Capitalized Adjustment
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Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
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Investment Income Interest
InvestmentIncomeInterest
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Investment Income Interest
InvestmentIncomeInterest
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Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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Other Nonoperating Income Expense
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Nonoperating Income Expense
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Nonoperating Income Expense
NonoperatingIncomeExpense
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Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
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| CY2023Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
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Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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Net Income Loss
NetIncomeLoss
|
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| CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
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| CY2024Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.39 | |
| CY2023Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.27 | |
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Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.39 | |
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Earnings Per Share Diluted
EarningsPerShareDiluted
|
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Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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| CY2023Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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| CY2023Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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| CY2024Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
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Weighted Average Number Of Diluted Shares Outstanding
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Stockholders Equity
StockholdersEquity
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Stock Issued During Period Value Employee Stock Plans
StockIssuedDuringPeriodValueEmployeeStockPlans
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Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
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Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
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Dividends Cash
DividendsCash
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Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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Stockholders Equity
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Stockholders Equity
StockholdersEquity
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Stock Issued During Period Value Employee Stock Plans
StockIssuedDuringPeriodValueEmployeeStockPlans
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Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
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Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
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Dividends Cash
DividendsCash
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Stockholders Equity
StockholdersEquity
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| CY2024Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
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| CY2023Q1 | us-gaap |
Net Income Loss
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Depreciation And Amortization
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| CY2023Q1 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
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| CY2024Q1 | us-gaap |
Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
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| CY2023Q1 | us-gaap |
Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
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| CY2024Q1 | us-gaap |
Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
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Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
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Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
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| CY2023Q1 | us-gaap |
Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
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Increase Decrease In Accounts And Other Receivables
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Increase Decrease In Accounts And Other Receivables
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Increase Decrease In Other Operating Assets
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Increase Decrease In Accounts Payable And Accrued Liabilities
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Increase Decrease In Accounts Payable And Accrued Liabilities
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Increase Decrease In Contract With Customer Liability
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Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
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Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
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Increase Decrease In Other Operating Liabilities
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| CY2024Q1 | us-gaap |
Increase Decrease Cash Collateral From Counterparties
IncreaseDecreaseCashCollateralFromCounterparties
|
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| CY2023Q1 | us-gaap |
Increase Decrease Cash Collateral From Counterparties
IncreaseDecreaseCashCollateralFromCounterparties
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Other Operating Activities Cash Flow Statement
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Other Operating Activities Cash Flow Statement
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Net Cash Provided By Used In Operating Activities
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Net Cash Provided By Used In Operating Activities
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Payments To Acquire Productive Assets
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Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
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Payments For Construction In Process
PaymentsForConstructionInProcess
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Payments For Construction In Process
PaymentsForConstructionInProcess
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Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
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Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
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Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
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Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
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Proceeds From Payments For Other Investing Activities
ProceedsFromPaymentsForOtherInvestingActivities
|
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| CY2023Q1 | luv |
Proceeds From Payments For Other Investing Activities
ProceedsFromPaymentsForOtherInvestingActivities
|
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| CY2024Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
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|
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| CY2023Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
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| CY2024Q1 | us-gaap |
Proceeds From Stock Plans
ProceedsFromStockPlans
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Proceeds From Stock Plans
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Repayments Of Other Long Term Debt And Finance Lease Obligations
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| CY2023Q1 | luv |
Repayments Of Other Long Term Debt And Finance Lease Obligations
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Payments Of Dividends
PaymentsOfDividends
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Payments Of Dividends
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Proceeds From Payments For Other Financing Activities
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Proceeds From Payments For Other Financing Activities
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Net Cash Provided By Used In Financing Activities
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Net Cash Provided By Used In Financing Activities
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| CY2024Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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Interest Paid Net
InterestPaidNet
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Interest Paid Net
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Income Taxes Paid
IncomeTaxesPaid
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| CY2023Q1 | us-gaap |
Income Taxes Paid
IncomeTaxesPaid
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| CY2024Q1 | us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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|
16000000 | usd |
| CY2023Q1 | us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
47000000 | usd |
| CY2024Q1 | us-gaap |
Basis Of Accounting
BasisOfAccounting
|
BASIS OF PRESENTATION<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%">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="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%">In late December 2022, the Company experienced a wide-scale operational disruption as extreme winter weather across a significant portion of the United States impacted its operational plan and flight schedules. Subsequent to Winter Storm Elliott, the Company was challenged to realign flight crews, flight schedules, and aircraft for a period of several days during this peak demand travel period. This disruption and subsequent recovery efforts resulted in the cancellation of more than 16,700 flights during the period from December 21 through December 31, 2022. These events also created a deceleration in bookings, primarily isolated to January and February 2023, as well as increased first quarter 2023 expenses by approximately $55 million, which are included in the accompanying unaudited Condensed Consolidated Statement of Comprehensive Loss for the three months ended March 31, 2023. These first quarter 2023 expenses included reimbursements to Customers impacted by the cancellations for costs they incurred in excess of the amounts accrued as of December 31, 2022, adjustments to the estimated value of Rapid Rewards points offered as a gesture of goodwill to Customers as a result of changes in the estimates of the points expected to be redeemed, and additional premium pay and additional compensation for Employees directly or indirectly impacted by the cancellations and recovery efforts. </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%">Based on the Company's wide-scale operational disruption, the Company has been subject to inquiries and investigations by governmental agencies (including with respect to a December 2023 settlement with the Department of Transportation) and could be subject to fines and/or penalties resulting from those inquiries and investigations, as well as litigation from Customers and Shareholders.</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 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 March 31, 2024 and 2023 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 performed 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 and changes in consumer behavior, unemployment levels, corporate travel budgets, global pandemics, extreme or severe weather and natural disasters, fears of terrorism or war, governmental actions, 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 Note 3 for further information on fuel and the Company's hedging program. Operating results for the three months ended March 31, 2024, are not necessarily indicative of the results that may be expected for future quarters or for the year ended December 31, 2024. 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 December 31, 2023.</span></div> | |
| CY2022Q4 | luv |
Number Of Cancelled Flights
NumberOfCancelledFlights
|
16700 | flight |
| CY2023Q1 | luv |
Customer Expense Reimbursements And Other Miscellaneous Expenses
CustomerExpenseReimbursementsAndOtherMiscellaneousExpenses
|
55000000 | usd |
| CY2024Q1 | us-gaap |
Price Risk Cash Flow Hedge Unrealized Gain Loss To Be Reclassified During Next12 Months
PriceRiskCashFlowHedgeUnrealizedGainLossToBeReclassifiedDuringNext12Months
|
-34000000 | usd |
| CY2024Q1 | us-gaap |
Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
|
280000000 | usd |
| CY2023Q4 | us-gaap |
Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
|
223000000 | usd |
| CY2024Q1 | us-gaap |
Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
|
23000000 | usd |
| CY2023Q4 | us-gaap |
Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
|
0 | usd |
| CY2024Q1 | luv |
Letter Of Credit Percent Of Collateral
LetterOfCreditPercentOfCollateral
|
1 | |
| CY2024Q1 | luv |
Cash Collateral Percent Of Fair Value Fuel Derivatives Contracts
CashCollateralPercentOfFairValueFuelDerivativesContracts
|
1 | |
| CY2024Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-231000000 | usd |
| CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-159000000 | usd |
| CY2024Q1 | luv |
Other Comprehensive Income Other Tax
OtherComprehensiveIncomeOtherTax
|
0 | usd |
| CY2023Q1 | luv |
Other Comprehensive Income Other Tax
OtherComprehensiveIncomeOtherTax
|
0 | usd |
| CY2024Q1 | us-gaap |
Other Comprehensive Income Other Net Of Tax
OtherComprehensiveIncomeOtherNetOfTax
|
2000000 | usd |
| CY2023Q1 | us-gaap |
Other Comprehensive Income Other Net Of Tax
OtherComprehensiveIncomeOtherNetOfTax
|
0 | usd |
| CY2024Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
19000000 | usd |
| CY2023Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
-147000000 | usd |
| CY2024Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-212000000 | usd |
| CY2023Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-306000000 | usd |
| CY2024Q1 | us-gaap |
Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
|
1000000 | usd |
| CY2024Q1 | us-gaap |
Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
|
-18000000 | usd |
| CY2024Q1 | luv |
Contract With Customer Liability Air Traffic Liability Service Revenue
ContractWithCustomerLiabilityAirTrafficLiabilityServiceRevenue
|
4407000000 | usd |
| CY2023Q4 | luv |
Contract With Customer Liability Air Traffic Liability Service Revenue
ContractWithCustomerLiabilityAirTrafficLiabilityServiceRevenue
|
3363000000 | usd |
| CY2024Q1 | luv |
Contract With Customer Liability Air Traffic Liability Loyalty Program
ContractWithCustomerLiabilityAirTrafficLiabilityLoyaltyProgram
|
4987000000 | usd |
| CY2023Q4 | luv |
Contract With Customer Liability Air Traffic Liability Loyalty Program
ContractWithCustomerLiabilityAirTrafficLiabilityLoyaltyProgram
|
4916000000 | usd |
| CY2024Q1 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
9394000000 | usd |
| CY2023Q4 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
8279000000 | usd |
| CY2023Q4 | luv |
Contract With Customer Liability Air Traffic Liability Loyalty Program
ContractWithCustomerLiabilityAirTrafficLiabilityLoyaltyProgram
|
4916000000 | usd |
| CY2022Q4 | luv |
Contract With Customer Liability Air Traffic Liability Loyalty Program
ContractWithCustomerLiabilityAirTrafficLiabilityLoyaltyProgram
|
5189000000 | usd |
| CY2024Q1 | luv |
Contract With Customer Liability Air Traffic Liability Loyalty Program Awarded Points
ContractWithCustomerLiabilityAirTrafficLiabilityLoyaltyProgramAwardedPoints
|
893000000 | usd |
| CY2023Q1 | luv |
Contract With Customer Liability Air Traffic Liability Loyalty Program Awarded Points
ContractWithCustomerLiabilityAirTrafficLiabilityLoyaltyProgramAwardedPoints
|
846000000 | usd |
| CY2024Q1 | luv |
Contract With Customer Liability Air Traffic Liability Loyalty Program
ContractWithCustomerLiabilityAirTrafficLiabilityLoyaltyProgram
|
4987000000 | usd |
| CY2023Q1 | luv |
Contract With Customer Liability Air Traffic Liability Loyalty Program
ContractWithCustomerLiabilityAirTrafficLiabilityLoyaltyProgram
|
5190000000 | usd |
| CY2023Q4 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
8279000000 | usd |
| CY2022Q4 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
8250000000 | usd |
| CY2024Q1 | luv |
Contract With Customer Liability Additions
ContractWithCustomerLiabilityAdditions
|
6850000000 | usd |
| CY2023Q1 | luv |
Contract With Customer Liability Additions
ContractWithCustomerLiabilityAdditions
|
6072000000 | usd |
| CY2024Q1 | us-gaap |
Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
|
2557000000 | usd |
| CY2023Q1 | us-gaap |
Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
|
2568000000 | usd |
| CY2024Q1 | luv |
Contract With Customer Liability Revenue Recognized Current Period
ContractWithCustomerLiabilityRevenueRecognizedCurrentPeriod
|
3178000000 | usd |
| CY2023Q1 | luv |
Contract With Customer Liability Revenue Recognized Current Period
ContractWithCustomerLiabilityRevenueRecognizedCurrentPeriod
|
2557000000 | usd |
| CY2024Q1 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
9394000000 | usd |
| CY2023Q1 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
9197000000 | usd |
| CY2024Q1 | luv |
Residual Travel Funds
ResidualTravelFunds
|
0.06 | |
| CY2023Q4 | luv |
Residual Travel Funds
ResidualTravelFunds
|
0.08 | |
| CY2024Q1 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-231000000 | usd |
| CY2023Q1 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-159000000 | usd |
| CY2024Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
597000000 | shares |
| CY2024Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
597000000 | shares |
| CY2023Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
594000000 | shares |
| CY2023Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
594000000 | shares |
| CY2024Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.39 | |
| CY2023Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.27 | |
| CY2024Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.39 | |
| CY2023Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.27 | |
| CY2024Q1 | us-gaap |
Accounts Receivable Net Current
AccountsReceivableNetCurrent
|
58000000 | usd |
| CY2023Q4 | us-gaap |
Accounts Receivable Net Current
AccountsReceivableNetCurrent
|
104000000 | usd |
| CY2024Q1 | us-gaap |
Credit Card Receivables
CreditCardReceivables
|
280000000 | usd |
| CY2023Q4 | us-gaap |
Credit Card Receivables
CreditCardReceivables
|
200000000 | usd |
| CY2024Q1 | luv |
Business Partners And Other Suppliers Receivables Current
BusinessPartnersAndOtherSuppliersReceivablesCurrent
|
612000000 | usd |
| CY2023Q4 | luv |
Business Partners And Other Suppliers Receivables Current
BusinessPartnersAndOtherSuppliersReceivablesCurrent
|
501000000 | usd |
| CY2024Q1 | us-gaap |
Income Taxes Receivable
IncomeTaxesReceivable
|
13000000 | usd |
| CY2023Q4 | us-gaap |
Income Taxes Receivable
IncomeTaxesReceivable
|
35000000 | usd |
| CY2024Q1 | us-gaap |
Hedging Assets Current
HedgingAssetsCurrent
|
8000000 | usd |
| CY2023Q4 | us-gaap |
Hedging Assets Current
HedgingAssetsCurrent
|
12000000 | usd |
| CY2024Q1 | luv |
Reinsurance Receivable Current
ReinsuranceReceivableCurrent
|
251000000 | usd |
| CY2023Q4 | luv |
Reinsurance Receivable Current
ReinsuranceReceivableCurrent
|
145000000 | usd |
| CY2024Q1 | us-gaap |
Other Receivables Net Current
OtherReceivablesNetCurrent
|
132000000 | usd |
| CY2023Q4 | us-gaap |
Other Receivables Net Current
OtherReceivablesNetCurrent
|
157000000 | usd |
| CY2024Q1 | us-gaap |
Accounts And Other Receivables Net Current
AccountsAndOtherReceivablesNetCurrent
|
1354000000 | usd |
| CY2023Q4 | us-gaap |
Accounts And Other Receivables Net Current
AccountsAndOtherReceivablesNetCurrent
|
1154000000 | usd |
| CY2024Q1 | us-gaap |
Derivative Fair Value Amount Offset Against Collateral Net
DerivativeFairValueAmountOffsetAgainstCollateralNet
|
116000000 | usd |
| CY2023Q4 | us-gaap |
Derivative Fair Value Amount Offset Against Collateral Net
DerivativeFairValueAmountOffsetAgainstCollateralNet
|
102000000 | usd |
| CY2024Q1 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
295000000 | usd |
| CY2023Q4 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
296000000 | usd |
| CY2024Q1 | us-gaap |
Equity Securities Fvni Noncurrent
EquitySecuritiesFVNINoncurrent
|
286000000 | usd |
| CY2023Q4 | us-gaap |
Equity Securities Fvni Noncurrent
EquitySecuritiesFVNINoncurrent
|
280000000 | usd |
| CY2024Q1 | luv |
Prepaid Maintenance
PrepaidMaintenance
|
264000000 | usd |
| CY2023Q4 | luv |
Prepaid Maintenance
PrepaidMaintenance
|
258000000 | usd |
| CY2024Q1 | us-gaap |
Other Assets Miscellaneous
OtherAssetsMiscellaneous
|
63000000 | usd |
| CY2023Q4 | us-gaap |
Other Assets Miscellaneous
OtherAssetsMiscellaneous
|
28000000 | usd |
| CY2024Q1 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
1024000000 | usd |
| CY2023Q4 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
964000000 | usd |
| CY2024Q1 | us-gaap |
Accounts Payable Trade Current
AccountsPayableTradeCurrent
|
281000000 | usd |
| CY2023Q4 | us-gaap |
Accounts Payable Trade Current
AccountsPayableTradeCurrent
|
265000000 | usd |
| CY2024Q1 | us-gaap |
Accrued Salaries Current
AccruedSalariesCurrent
|
446000000 | usd |
| CY2023Q4 | us-gaap |
Accrued Salaries Current
AccruedSalariesCurrent
|
400000000 | usd |
| CY2024Q1 | us-gaap |
Taxes Payable Current
TaxesPayableCurrent
|
443000000 | usd |
| CY2023Q4 | us-gaap |
Taxes Payable Current
TaxesPayableCurrent
|
302000000 | usd |
| CY2024Q1 | luv |
Aircraft Maintenance Payable
AircraftMaintenancePayable
|
151000000 | usd |
| CY2023Q4 | luv |
Aircraft Maintenance Payable
AircraftMaintenancePayable
|
140000000 | usd |
| CY2024Q1 | luv |
Fuel Payable
FuelPayable
|
144000000 | usd |
| CY2023Q4 | luv |
Fuel Payable
FuelPayable
|
161000000 | usd |
| CY2024Q1 | us-gaap |
Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
|
0 | usd |
| CY2023Q4 | us-gaap |
Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
|
107000000 | usd |
| CY2024Q1 | luv |
Accrued Third Party Services
AccruedThirdPartyServices
|
229000000 | usd |
| CY2023Q4 | luv |
Accrued Third Party Services
AccruedThirdPartyServices
|
269000000 | usd |
| CY2024Q1 | us-gaap |
Accounts Payable Other Current
AccountsPayableOtherCurrent
|
255000000 | usd |
| CY2023Q4 | us-gaap |
Accounts Payable Other Current
AccountsPayableOtherCurrent
|
218000000 | usd |
| CY2024Q1 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
1949000000 | usd |
| CY2023Q4 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
1862000000 | usd |
| CY2024Q1 | luv |
Voluntary Separation Program2020 Accrued Liability
VoluntarySeparationProgram2020AccruedLiability
|
64000000 | usd |
| CY2023Q4 | luv |
Voluntary Separation Program2020 Accrued Liability
VoluntarySeparationProgram2020AccruedLiability
|
65000000 | usd |
| CY2024Q1 | us-gaap |
Deferred Compensation Cash Based Arrangements Liability Current
DeferredCompensationCashBasedArrangementsLiabilityCurrent
|
41000000 | usd |
| CY2023Q4 | us-gaap |
Deferred Compensation Cash Based Arrangements Liability Current
DeferredCompensationCashBasedArrangementsLiabilityCurrent
|
141000000 | usd |
| CY2024Q1 | us-gaap |
Accrued Vacation Current
AccruedVacationCurrent
|
541000000 | usd |
| CY2023Q4 | us-gaap |
Accrued Vacation Current
AccruedVacationCurrent
|
516000000 | usd |
| CY2024Q1 | us-gaap |
Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
|
174000000 | usd |
| CY2023Q4 | us-gaap |
Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
|
163000000 | usd |
| CY2024Q1 | us-gaap |
Workers Compensation Liability Current
WorkersCompensationLiabilityCurrent
|
137000000 | usd |
| CY2023Q4 | us-gaap |
Workers Compensation Liability Current
WorkersCompensationLiabilityCurrent
|
133000000 | usd |
| CY2024Q1 | luv |
Accrual For Property And Income Taxes
AccrualForPropertyAndIncomeTaxes
|
56000000 | usd |
| CY2023Q4 | luv |
Accrual For Property And Income Taxes
AccrualForPropertyAndIncomeTaxes
|
63000000 | usd |
| CY2024Q1 | us-gaap |
Interest Payable Current
InterestPayableCurrent
|
73000000 | usd |
| CY2023Q4 | us-gaap |
Interest Payable Current
InterestPayableCurrent
|
34000000 | usd |
| CY2024Q1 | us-gaap |
Accrued Bonuses Current
AccruedBonusesCurrent
|
736000000 | usd |
| CY2023Q4 | us-gaap |
Accrued Bonuses Current
AccruedBonusesCurrent
|
2022000000 | usd |
| CY2024Q1 | luv |
Reinsurance Payable Current
ReinsurancePayableCurrent
|
300000000 | usd |
| CY2023Q4 | luv |
Reinsurance Payable Current
ReinsurancePayableCurrent
|
190000000 | usd |
| CY2024Q1 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
278000000 | usd |
| CY2023Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
279000000 | usd |
| CY2024Q1 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
2400000000 | usd |
| CY2023Q4 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
3606000000 | usd |
| CY2024Q1 | luv |
Voluntary Separation Program2020 Other Noncurrent Liability
VoluntarySeparationProgram2020OtherNoncurrentLiability
|
40000000 | usd |
| CY2023Q4 | luv |
Voluntary Separation Program2020 Other Noncurrent Liability
VoluntarySeparationProgram2020OtherNoncurrentLiability
|
61000000 | usd |
| CY2024Q1 | us-gaap |
Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
|
273000000 | usd |
| CY2023Q4 | us-gaap |
Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
|
269000000 | usd |
| CY2024Q1 | us-gaap |
Other Deferred Compensation Arrangements Liability Classified Noncurrent
OtherDeferredCompensationArrangementsLiabilityClassifiedNoncurrent
|
358000000 | usd |
| CY2023Q4 | us-gaap |
Other Deferred Compensation Arrangements Liability Classified Noncurrent
OtherDeferredCompensationArrangementsLiabilityClassifiedNoncurrent
|
358000000 | usd |
| CY2024Q1 | us-gaap |
Other Sundry Liabilities Noncurrent
OtherSundryLiabilitiesNoncurrent
|
266000000 | usd |
| CY2023Q4 | us-gaap |
Other Sundry Liabilities Noncurrent
OtherSundryLiabilitiesNoncurrent
|
293000000 | usd |
| CY2024Q1 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
937000000 | usd |
| CY2023Q4 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
981000000 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
1350000000 | usd |
| CY2024Q1 | luv |
Number Of Aircrafts Ordered Remainder Of Fiscal Year
NumberOfAircraftsOrderedRemainderOfFiscalYear
|
85 | aircraft |
| CY2024Q1 | luv |
Number Of Aircrafts Ordered Year One
NumberOfAircraftsOrderedYearOne
|
74 | aircraft |
| CY2024Q1 | luv |
Number Of Aircrafts Ordered Year Two
NumberOfAircraftsOrderedYearTwo
|
85 | aircraft |
| CY2024Q1 | luv |
Number Of Aircrafts Ordered Year Three
NumberOfAircraftsOrderedYearThree
|
90 | aircraft |
| CY2024Q1 | luv |
Number Of Aircrafts Ordered Year Four
NumberOfAircraftsOrderedYearFour
|
90 | aircraft |
| CY2024Q1 | luv |
Number Of Aircrafts Ordered Year Five
NumberOfAircraftsOrderedYearFive
|
90 | aircraft |
| CY2024Q1 | luv |
Number Of Aircrafts Ordered Year Six
NumberOfAircraftsOrderedYearSix
|
90 | aircraft |
| CY2024Q1 | luv |
Number Of Aircrafts Ordered Year Seven
NumberOfAircraftsOrderedYearSeven
|
90 | aircraft |
| CY2024Q1 | luv |
Number Of Aircrafts Ordered
NumberOfAircraftsOrdered
|
694 | aircraft |
