2012 Q4 Form 10-K Financial Statement

#000119312513041608 Filed on February 07, 2013

View on sec.gov

Income Statement

Concept 2012 Q4 2011 Q4 2011 Q3
Revenue $4.173B $4.108B $4.311B
YoY Change 1.58% 31.92% 135056290.98%
Cost Of Revenue $1.842B $1.840B $1.933B
YoY Change 0.11% 55.14% 63.95%
Gross Profit $2.331B $2.268B $2.378B
YoY Change 2.78% 17.63% 18.13%
Gross Profit Margin 55.86% 55.21% 55.16%
Selling, General & Admin $1.467B $1.384B $1.418B
YoY Change 6.0% 20.35% 25.04%
% of Gross Profit 62.93% 61.02% 59.63%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $224.0M $192.0M $191.0M
YoY Change 16.67% 20.75% 18.63%
% of Gross Profit 9.61% 8.47% 8.03%
Operating Expenses $2.225B $2.084B $4.086B
YoY Change 6.77% 22.23% 144025278.92%
Operating Profit $91.00M $147.0M $225.0M
YoY Change -38.1% -31.94% -36.62%
Interest Expense $34.00M $109.0M -$451.0M
YoY Change -68.81% -3733.33% 1860.87%
% of Operating Profit 37.36% 74.15% -200.44%
Other Income/Expense, Net -$451.0M
YoY Change 1960869465.22%
Pretax Income $125.0M $255.0M -$226.0M
YoY Change -50.98% 19.72% -168.07%
Income Tax $47.00M $104.0M -$86.00M
% Of Pretax Income 37.6% 40.78%
Net Earnings $78.00M $152.0M -$140.0M
YoY Change -48.68% 16.03% -168.29%
Net Earnings / Revenue 1.87% 3.7% -3.25%
Basic Earnings Per Share $0.11 $0.20 -$0.18
Diluted Earnings Per Share $0.11 $0.20 -$0.18
COMMON SHARES
Basic Shares Outstanding 728.1M shares 772.9M shares 792.0M shares
Diluted Shares Outstanding 792.0M shares

Balance Sheet

Concept 2012 Q4 2011 Q4 2011 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.970B $3.144B $3.656B
YoY Change -5.53% -11.14% 8.2%
Cash & Equivalents $1.113B $829.0M $1.016B
Short-Term Investments $1.857B $2.315B $2.640B
Other Short-Term Assets $456.0M $501.0M $110.0M
YoY Change -8.98% 65.35% -23.08%
Inventory $469.0M $401.0M $459.0M
Prepaid Expenses
Receivables $332.0M $299.0M $369.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $4.227B $4.345B $4.594K
YoY Change -2.72% 1.54% -100.0%
LONG-TERM ASSETS
Property, Plant & Equipment $12.77B $12.13B $11.83K
YoY Change 5.27% 14.64% -100.0%
Goodwill $970.0M $970.0M $970.00
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $633.0M $626.0M $487.00
YoY Change 1.12% 3.3% -100.0%
Total Long-Term Assets $14.37B $13.72B $13.29K
YoY Change 4.71% 22.7% -100.0%
TOTAL ASSETS
Total Short-Term Assets $4.227B $4.345B $4.594K
Total Long-Term Assets $14.37B $13.72B $13.29K
Total Assets $18.60B $18.07B $17.89K
YoY Change 2.92% 16.85% -100.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.107B $1.057B $1.083K
YoY Change 4.73% 43.03% -100.0%
Accrued Expenses $1.102B $996.0M $1.193K
YoY Change 10.64% 15.41% -100.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $271.0M $644.0M $986.00
YoY Change -57.92% 27.52% -100.0%
Total Short-Term Liabilities $4.650B $4.533B $5.320K
YoY Change 2.58% 37.16% -100.0%
LONG-TERM LIABILITIES
Long-Term Debt $2.883B $3.107B $3.220K
YoY Change -7.21% 8.07% -100.0%
Other Long-Term Liabilities $856.0M $910.0M $926.00
YoY Change -5.93% 95.7% -100.0%
Total Long-Term Liabilities $3.739B $4.017B $4.146K
YoY Change -6.92% 20.27% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.650B $4.533B $5.320K
Total Long-Term Liabilities $3.739B $4.017B $4.146K
Total Liabilities $8.389B $8.550B $9.466K
YoY Change -1.88% 28.67% -100.0%
SHAREHOLDERS EQUITY
Retained Earnings $5.768B $5.395B $5.251K
YoY Change 6.91% -0.07%
Common Stock $2.018B $2.030B $2.030K
YoY Change -0.59% 1.96%
Preferred Stock
YoY Change
Treasury Stock (at cost) $675.0M $324.0M $283.00
YoY Change 108.33% -63.64%
Treasury Stock Shares 77.29M shares 35.05M shares
Shareholders Equity $6.992B $6.877B $6.485K
YoY Change
Total Liabilities & Shareholders Equity $18.60B $18.07B $17.89K
YoY Change 2.92% 16.85% -100.0%

Cashflow Statement

Concept 2012 Q4 2011 Q4 2011 Q3
OPERATING ACTIVITIES
Net Income $78.00M $152.0M -$140.0M
YoY Change -48.68% 16.03% -168.29%
Depreciation, Depletion And Amortization $224.0M $192.0M $191.0M
YoY Change 16.67% 20.75% 18.63%
Cash From Operating Activities $231.0M $371.0M -$218.0M
YoY Change -37.74% 37.92% -56623476.62%
INVESTING ACTIVITIES
Capital Expenditures -$399.0M -$420.0M $276.0M
YoY Change -5.0% 342.11% 275999900.0%
Acquisitions $0.00
YoY Change
Other Investing Activities $210.0M $355.0M $0.00
YoY Change -40.85% 373.33%
Cash From Investing Activities -$189.0M -$65.00M -$137.0M
YoY Change 190.77% 225.0% 43910156.41%
FINANCING ACTIVITIES
Cash Dividend Paid $3.00
YoY Change 0.0%
Common Stock Issuance & Retirement, Net $175.0M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -97.00M -493.0M -$224.0M
YoY Change -80.32% 2494.74% 722580545.16%
NET CHANGE
Cash From Operating Activities 231.0M 371.0M -$218.0M
Cash From Investing Activities -189.0M -65.00M -$137.0M
Cash From Financing Activities -97.00M -493.0M -$224.0M
Net Change In Cash -55.00M -187.0M -$579.0M
YoY Change -70.59% -181.3% -1378571528.57%
FREE CASH FLOW
Cash From Operating Activities $231.0M $371.0M -$218.0M
Capital Expenditures -$399.0M -$420.0M $276.0M
Free Cash Flow $630.0M $791.0M -$494.0M
YoY Change -20.35% 117.31% -173333433.33%

Facts In Submission

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<p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:11pt;font-weight:bold;margin-left:0px;">Basis of Presentation </font></p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:11pt;margin-left:0px;">Southwes</font><font style="font-family:Times New Roman;font-size:11pt;">t Airlines Co. (the &#8220;Company&#8221;)</font><font style="font-family:Times New Roman;font-size:11pt;"> </font><font style="font-family:Times New Roman;font-size:11pt;">operates Southwest Airlines, </font><font style="font-family:Times New Roman;font-size:11pt;">a major domestic</font><font style="font-family:Times New Roman;font-size:11pt;"> airline</font><font style="font-family:Times New Roman;font-size:11pt;">. The Consolidated Financial Statements include the accounts of the Company and its wholly owned subsidiaries</font><font style="font-family:Times New Roman;font-size:11pt;">, which include AirTran Holdings, LLC. </font><font style="font-family:Times New Roman;font-size:11pt;">On May 2, 2011 (the &#8220;acquisition date&#8221;), the Company acquired all of the outstanding equity of AirTran Holdings, Inc. (&#8220;AirTran Holdings&#8221;), the former parent company of AirTran Airways, Inc. (&#8220;AirTran Airways&#8221;). Throughout </font><font style="font-family:Times New Roman;font-size:11pt;">th</font><font style="font-family:Times New Roman;font-size:11pt;">ese Notes</font><font style="font-family:Times New Roman;font-size:11pt;">, the Company makes reference to AirTran, which is meant to be inclusive of the following: (</font><font style="font-family:Times New Roman;font-size:11pt;">i</font><font style="font-family:Times New Roman;font-size:11pt;">) for periods prior to the acquisition date, AirTran Holdings and its subsidiaries, including, among others, AirTran Airways; and (ii) for periods on and after the acquisition date, AirTran Holdings, LLC, the successor to AirTran Holdings, and its subsidiaries, including among others, AirTran Airways. The accompanying Consolidated Financial Statements include the results of operations and cash flows for AirTran </font><font style="font-family:Times New Roman;font-size:11pt;">since</font><font style="font-family:Times New Roman;font-size:11pt;"> May 2, 2011. </font><font style="font-family:Times New Roman;font-size:11pt;">See Note </font><font style="font-family:Times New Roman;font-size:11pt;">2</font><font style="font-family:Times New Roman;font-size:11pt;">. All significant inter-entity balances and transactions have been eliminated. The preparation of financial statements in conformity with generally accepted accounting principles in the United States (GAAP) requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from these estimates. </font></p><p style='margin-top:0pt; margin-bottom:0pt'>&#160;</p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:11pt;margin-left:0px;">Certain prior period amounts have been reclassified to conform to the current presentation. 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<p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:11pt;margin-left:0px;">Certain prior period amounts have been reclassified to conform to the current presentation. In the Consolidated Statement of Income for the </font><font style="font-family:Times New Roman;font-size:11pt;">year ended</font><font style="font-family:Times New Roman;font-size:11pt;"> </font><font style="font-family:Times New Roman;font-size:11pt;">December 31</font><font style="font-family:Times New Roman;font-size:11pt;">, 2011, the Company has reclassified </font><font style="font-family:Times New Roman;font-size:11pt;">$19</font><font style="font-family:Times New Roman;font-size:11pt;"> million</font><font style="font-family:Times New Roman;font-size:11pt;"> from </font><font style="font-family:Times New Roman;font-size:11pt;">Other</font><font style="font-family:Times New Roman;font-size:11pt;"> revenues to Passenger revenues associated with its sale of frequent flyer </font><font style="font-family:Times New Roman;font-size:11pt;">points directly to Customers and the redemption of those points for flights</font><font style="font-family:Times New Roman;font-size:11pt;">.</font></p><p style='margin-top:0pt; margin-bottom:0pt'>&#160;</p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:11pt;margin-left:0px;">P</font><font style="font-family:Times New Roman;font-size:11pt;">roceeds from the sale of Auction Rate Securities </font><font style="font-family:Times New Roman;font-size:11pt;">of $29 million </font><font style="font-family:Times New Roman;font-size:11pt;">have been reclassified from Operating Activities to Investing Activities, to </font><font style="font-family:Times New Roman;font-size:11pt;">correct</font><font style="font-family:Times New Roman;font-size:11pt;"> the Consolidated Statement of Cash Flows</font><font style="font-family:Times New Roman;font-size:11pt;"> for 2011</font><font style="font-family:Times New Roman;font-size:11pt;">.</font></p>
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AirTran Holdings, Inc.
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2011-05-02
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44 Aircrafts
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92 Aircrafts
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CY2012Q4 luv Long Term Purchase Commitment Minimum Quantity Required For737 Mx Aircraft
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150 Aircrafts
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150 Aircrafts
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41000000 USD
CY2012Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
598000000 USD
CY2012Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
497000000 USD
CY2012Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
474000000 USD
CY2012Q4 us-gaap Deferred Compensation Cash Based Arrangements Liability Current
DeferredCompensationCashBasedArrangementsLiabilityCurrent
135000000 USD
CY2012Q4 us-gaap Accrued Rent Current
AccruedRentCurrent
139000000 USD
CY2012Q4 us-gaap Accrued Vacation Current
AccruedVacationCurrent
270000000 USD
CY2012Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
50000000 USD
CY2012Q4 us-gaap Workers Compensation Liability Current
WorkersCompensationLiabilityCurrent
159000000 USD
CY2012Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
212000000 USD
CY2011Q4 us-gaap Accrued Rent Current
AccruedRentCurrent
57000000 USD
CY2011Q4 us-gaap Accrued Vacation Current
AccruedVacationCurrent
248000000 USD
CY2011Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
85000000 USD
CY2011Q4 us-gaap Workers Compensation Liability Current
WorkersCompensationLiabilityCurrent
162000000 USD
CY2011Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
209000000 USD
CY2011Q4 us-gaap Deferred Compensation Cash Based Arrangements Liability Current
DeferredCompensationCashBasedArrangementsLiabilityCurrent
110000000 USD
CY2012Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
70000000 USD
CY2011Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
56000000 USD
CY2011Q4 us-gaap Deferred Tax Liabilities Current
DeferredTaxLiabilitiesCurrent
69000000 USD
CY2012Q4 us-gaap Deferred Tax Liabilities Current
DeferredTaxLiabilitiesCurrent
67000000 USD
CY2012Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
148000000 USD
CY2012Q4 us-gaap Off Market Lease Unfavorable
OffMarketLeaseUnfavorable
376000000 USD
CY2011Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
107000000 USD
CY2011Q4 us-gaap Off Market Lease Unfavorable
OffMarketLeaseUnfavorable
311000000 USD
CY2011Q4 luv Total Recorded Lfmp Construction Costs
TotalRecordedLfmpConstructionCosts
202000000 USD
CY2012Q4 us-gaap Other Deferred Compensation Arrangements Liability Classified Noncurrent
OtherDeferredCompensationArrangementsLiabilityClassifiedNoncurrent
141000000 USD
CY2011Q4 us-gaap Other Deferred Compensation Arrangements Liability Classified Noncurrent
OtherDeferredCompensationArrangementsLiabilityClassifiedNoncurrent
125000000 USD
CY2012Q4 us-gaap Other Sundry Liabilities Noncurrent
OtherSundryLiabilitiesNoncurrent
128000000 USD
CY2011Q4 us-gaap Other Sundry Liabilities Noncurrent
OtherSundryLiabilitiesNoncurrent
165000000 USD
CY2012Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
1004000000 USD
CY2011Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
1300000000 USD
CY2012Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
880000000 USD
CY2011Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
1410000000 USD
CY2012Q4 us-gaap Capital Leases Future Minimum Payments Due Current
CapitalLeasesFutureMinimumPaymentsDueCurrent
5000000 USD
CY2012Q4 us-gaap Capital Leases Future Minimum Payments Due In Two Years
CapitalLeasesFutureMinimumPaymentsDueInTwoYears
6000000 USD
CY2012Q4 us-gaap Capital Leases Future Minimum Payments Due In Three Years
CapitalLeasesFutureMinimumPaymentsDueInThreeYears
6000000 USD
CY2012Q4 us-gaap Capital Leases Future Minimum Payments Due In Four Years
CapitalLeasesFutureMinimumPaymentsDueInFourYears
5000000 USD
CY2012Q4 us-gaap Capital Leases Future Minimum Payments Due In Five Years
CapitalLeasesFutureMinimumPaymentsDueInFiveYears
6000000 USD
CY2012Q4 us-gaap Capital Leases Future Minimum Payments Due Thereafter
CapitalLeasesFutureMinimumPaymentsDueThereafter
18000000 USD
CY2012Q4 us-gaap Capital Leases Future Minimum Payments Due
CapitalLeasesFutureMinimumPaymentsDue
46000000 USD
CY2012Q4 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
208000000 USD
CY2012Q4 luv Long Term Debt And Capital Lease Maturities Repayments Of Principal In Year One After Current Year
LongTermDebtAndCapitalLeaseMaturitiesRepaymentsOfPrincipalInYearOneAfterCurrentYear
186000000 USD
CY2012Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
534000000 USD
CY2012Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
204000000 USD
CY2012Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
615000000 USD
CY2012Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
523000000 USD
CY2012Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
971000000 USD
CY2011Q4 luv Debtdiscountandissuancecosts
Debtdiscountandissuancecosts
26000000 USD
CY2012Q4 luv Debtdiscountandissuancecosts
Debtdiscountandissuancecosts
21000000 USD
CY2012Q4 us-gaap Pledged Assets Separately Reported Securities Pledged As Collateral At Fair Value
PledgedAssetsSeparatelyReportedSecuritiesPledgedAsCollateralAtFairValue
2500000000 USD
CY2012Q4 luv Maximum Additional Number Of Assets Pledged As Collateral In Case Obligations Related To Fuel Derivatives Exceed Certain Thresholds
MaximumAdditionalNumberOfAssetsPledgedAsCollateralInCaseObligationsRelatedToFuelDerivativesExceedCertainThresholds
50 pure
CY2012Q4 luv Net Book Value Of Additional Assets Pledged As Collateral In Case Obligations Related To Fuel Derivatives Exceed Certain Thresholds
NetBookValueOfAdditionalAssetsPledgedAsCollateralInCaseObligationsRelatedToFuelDerivativesExceedCertainThresholds
1100000000 USD
CY2012Q4 us-gaap Capital Leased Assets Gross
CapitalLeasedAssetsGross
45000000 USD
CY2011Q4 us-gaap Capital Leased Assets Gross
CapitalLeasedAssetsGross
177000000 USD
CY2012Q4 us-gaap Capital Leases Lessee Balance Sheet Assets By Major Class Accumulated Deprecation
CapitalLeasesLesseeBalanceSheetAssetsByMajorClassAccumulatedDeprecation
8000000 USD
CY2011Q4 us-gaap Capital Leases Lessee Balance Sheet Assets By Major Class Accumulated Deprecation
CapitalLeasesLesseeBalanceSheetAssetsByMajorClassAccumulatedDeprecation
132000000 USD
CY2012Q4 us-gaap Capital Leases Balance Sheet Assets By Major Class Net
CapitalLeasesBalanceSheetAssetsByMajorClassNet
37000000 USD
CY2011Q4 us-gaap Capital Leases Balance Sheet Assets By Major Class Net
CapitalLeasesBalanceSheetAssetsByMajorClassNet
45000000 USD
CY2012Q4 us-gaap Capital Leased Assets Number Of Units
CapitalLeasedAssetsNumberOfUnits
2 CapitalLeases
CY2011Q4 us-gaap Capital Leased Assets Number Of Units
CapitalLeasedAssetsNumberOfUnits
7 CapitalLeases
CY2012 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
943000000 USD
CY2011 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
847000000 USD
CY2010 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
631000000 USD
CY2012Q4 us-gaap Property Subject To Or Available For Operating Lease Number Of Units
PropertySubjectToOrAvailableForOperatingLeaseNumberOfUnits
187 pure
CY2012Q4 us-gaap Capital Leases Future Minimum Payments Interest Included In Payments
CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments
10000000 USD
CY2012Q4 us-gaap Capital Leases Future Minimum Payments Present Value Of Net Minimum Payments
CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments
36000000 USD
CY2012Q4 us-gaap Capital Lease Obligations Current
CapitalLeaseObligationsCurrent
3000000 USD
CY2012Q4 us-gaap Capital Lease Obligations Noncurrent
CapitalLeaseObligationsNoncurrent
33000000 USD
CY2012Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
663000000 USD
CY2012Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
693000000 USD
CY2012Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
2161000000 USD
CY2012Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
5086000000 USD
CY2012Q4 us-gaap Operating Leases Future Minimum Payments Receivable Current
OperatingLeasesFutureMinimumPaymentsReceivableCurrent
-5000000 USD
CY2012Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Two Years
OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears
-49000000 USD
CY2012Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Three Years
OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears
-91000000 USD
CY2012Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Four Years
OperatingLeasesFutureMinimumPaymentsReceivableInFourYears
-105000000 USD
CY2012Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Five Years
OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears
-105000000 USD
CY2012Q4 us-gaap Operating Leases Future Minimum Payments Receivable Thereafter
OperatingLeasesFutureMinimumPaymentsReceivableThereafter
-338000000 USD
CY2012Q4 us-gaap Operating Leases Future Minimum Payments Receivable
OperatingLeasesFutureMinimumPaymentsReceivable
-693000000 USD
CY2012Q4 luv Operating Leases Future Minimum Payments Net Current
OperatingLeasesFutureMinimumPaymentsNetCurrent
688000000 USD
CY2012Q4 luv Operating Leases Future Minimum Payments Net In Two Years
OperatingLeasesFutureMinimumPaymentsNetInTwoYears
614000000 USD
CY2012Q4 luv Operating Leases Future Minimum Payments Net In Three Years
OperatingLeasesFutureMinimumPaymentsNetInThreeYears
507000000 USD
CY2012Q4 luv Operating Leases Future Minimum Payments Net In Four Years
OperatingLeasesFutureMinimumPaymentsNetInFourYears
392000000 USD
CY2012Q4 luv Operating Leases Future Minimum Payments Net In Five Years
OperatingLeasesFutureMinimumPaymentsNetInFiveYears
369000000 USD
CY2012Q4 luv Operating Leases Future Minimum Payments Net Thereafter
OperatingLeasesFutureMinimumPaymentsNetThereafter
1823000000 USD
CY2012Q4 luv Operating Leases Future Minimum Payments Net
OperatingLeasesFutureMinimumPaymentsNet
4393000000 USD
CY2012Q4 luv Capital And Operating Lease Renewal Term
CapitalAndOperatingLeaseRenewalTerm
one to five years
CY2012 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
750000000 shares
CY2011 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
774000000 shares
CY2010 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
746000000 shares
CY2011 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1000000 shares
CY2010 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1000000 shares
CY2012 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
757000000 shares
CY2011 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
775000000 shares
CY2010 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
747000000 shares
CY2012 us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
3000000 USD
CY2011 us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
0 USD
CY2010 us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
0 USD
CY2010 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
459000000 USD
CY2011 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
178000000 USD
CY2012 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
424000000 USD
CY2012 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1000000 shares
CY2012 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
6000000 shares
CY2011 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
0 shares
CY2010 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
0 shares
CY2011Q4 us-gaap Defined Benefit Plan Funded Status Of Plan
DefinedBenefitPlanFundedStatusOfPlan
-107000000 USD
CY2011Q4 us-gaap Defined Benefit Plan Accumulated Other Comprehensive Income Net Gains Losses Before Tax
DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetGainsLossesBeforeTax
53000000 USD
CY2011Q4 us-gaap Defined Benefit Plan Accumulated Other Comprehensive Income Net Prior Service Cost Credit Before Tax
DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetPriorServiceCostCreditBeforeTax
1000000 USD
CY2012Q4 us-gaap Other Assets Fair Value Disclosure
OtherAssetsFairValueDisclosure
49000000 USD
CY2012 us-gaap Gain Loss On Components Excluded From Assessment Of Price Risk Cash Flow Hedge Effectiveness
GainLossOnComponentsExcludedFromAssessmentOfPriceRiskCashFlowHedgeEffectiveness
36000000 USD
CY2011 us-gaap Gain Loss On Components Excluded From Assessment Of Price Risk Cash Flow Hedge Effectiveness
GainLossOnComponentsExcludedFromAssessmentOfPriceRiskCashFlowHedgeEffectiveness
107000000 USD
CY2010 us-gaap Gain Loss On Components Excluded From Assessment Of Price Risk Cash Flow Hedge Effectiveness
GainLossOnComponentsExcludedFromAssessmentOfPriceRiskCashFlowHedgeEffectiveness
134000000 USD
CY2012Q4 us-gaap Price Risk Cash Flow Hedge Unrealized Gain Loss To Be Reclassified During Next12 Months
PriceRiskCashFlowHedgeUnrealizedGainLossToBeReclassifiedDuringNext12Months
92000000 USD
CY2012 luv Gain Loss On Price Risk Hedge Ineffectiveness And Gain Loss On Price Risk Derivative Instruments Not Designated As Hedging Instruments
GainLossOnPriceRiskHedgeIneffectivenessAndGainLossOnPriceRiskDerivativeInstrumentsNotDesignatedAsHedgingInstruments
52000000 USD
CY2012Q4 luv Maximum Sum Of Derivatives Of Counterparty To Be Included In Other
MaximumSumOfDerivativesOfCounterpartyToBeIncludedInOther
20000000 USD
CY2012Q4 luv Cash Collateral Percent Of Fair Value Fuel Derivatives Contracts
CashCollateralPercentOfFairValueFuelDerivativesContracts
1 pure
CY2012 luv Auction Rate Securities Auction Frequency
AuctionRateSecuritiesAuctionFrequency
30-35 days
CY2012Q4 us-gaap Available For Sale Securities Gross Unrealized Losses1
AvailableForSaleSecuritiesGrossUnrealizedLosses1
14000000 USD
CY2012Q4 luv Auction Rate Securities Lower Remaining Maturity Range
AuctionRateSecuritiesLowerRemainingMaturityRange
6 Years
CY2012Q4 luv Auction Rate Securities Higher Remaining Maturity Range
AuctionRateSecuritiesHigherRemainingMaturityRange
35 Years
CY2012 us-gaap Availableforsale Securities Sold At Par
AvailableforsaleSecuritiesSoldAtPar
413000000 USD
CY2008Q1 us-gaap Availableforsale Securities Failed Auction Value
AvailableforsaleSecuritiesFailedAuctionValue
463000000 USD
CY2012Q4 us-gaap Interest Rate Derivative Assets At Fair Value
InterestRateDerivativeAssetsAtFairValue
31000000 USD
CY2012Q4 us-gaap Interest Rate Derivative Liabilities At Fair Value
InterestRateDerivativeLiabilitiesAtFairValue
126000000 USD
CY2012Q4 us-gaap Financial Instruments Owned Us Government And Agency Obligations At Fair Value
FinancialInstrumentsOwnedUSGovernmentAndAgencyObligationsAtFairValue
1624000000 USD
CY2012Q4 us-gaap Assets Fair Value Disclosure Recurring
AssetsFairValueDisclosureRecurring
4059000000 USD
CY2012Q4 us-gaap Other Liabilities Fair Value Disclosure
OtherLiabilitiesFairValueDisclosure
137000000 USD
CY2012Q4 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
1017000000 USD
CY2011Q4 us-gaap Interest Rate Derivative Assets At Fair Value
InterestRateDerivativeAssetsAtFairValue
66000000 USD
CY2012Q4 us-gaap Deferred Tax Assets Derivative Instruments
DeferredTaxAssetsDerivativeInstruments
40000000 USD
CY2012Q4 us-gaap Deferred Tax Assets Deferred Gain On Sale Leaseback Transaction
DeferredTaxAssetsDeferredGainOnSaleLeasebackTransaction
24000000 USD
CY2012Q4 luv Deferred Tax Assets Capital And Operating Leases
DeferredTaxAssetsCapitalAndOperatingLeases
179000000 USD
CY2010 luv Share Based Compensation Arrangement By Share Based Payment Award Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedInPeriodTotalFairValue
10000000 USD
CY2011Q4 us-gaap Interest Rate Derivative Liabilities At Fair Value
InterestRateDerivativeLiabilitiesAtFairValue
132000000 USD
CY2011Q4 us-gaap Financial Instruments Owned Us Government And Agency Obligations At Fair Value
FinancialInstrumentsOwnedUSGovernmentAndAgencyObligationsAtFairValue
2014000000 USD
CY2011Q4 us-gaap Other Assets Fair Value Disclosure
OtherAssetsFairValueDisclosure
43000000 USD
CY2011Q4 us-gaap Assets Fair Value Disclosure Recurring
AssetsFairValueDisclosureRecurring
4579000000 USD
CY2011Q4 us-gaap Other Liabilities Fair Value Disclosure
OtherLiabilitiesFairValueDisclosure
121000000 USD
CY2011Q4 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
1531000000 USD
CY2012 us-gaap Fair Value Assets And Liabilities Measured On Recurring Basis Gain Loss Included In Earnings
FairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisGainLossIncludedInEarnings
62000000 USD
CY2012 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Purchases
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases
1003000000 USD
CY2011Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
489000000 USD
CY2012 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Sales
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSales
1112000000 USD
CY2012 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSettlements
80000000 USD
CY2012Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
260000000 USD
CY2012 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Gain Loss Included In Other Comprehensive Income Loss
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisGainLossIncludedInOtherComprehensiveIncomeLoss
22000000 USD
CY2012 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1
27000000 USD
CY2010Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
784000000 USD
CY2011 us-gaap Fair Value Assets And Liabilities Measured On Recurring Basis Gain Loss Included In Earnings
FairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisGainLossIncludedInEarnings
26000000 USD
CY2011 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Purchases
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases
449000000 USD
CY2011 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Sales
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSales
575000000 USD
CY2011 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSettlements
176000000 USD
CY2011 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Gain Loss Included In Other Comprehensive Income Loss
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisGainLossIncludedInOtherComprehensiveIncomeLoss
33000000 USD
CY2011 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1
80000000 USD
CY2010 luv Aggregate Cost Of Discount Off Market Value For Shares Available Under Employee Stock Purchase Plan
AggregateCostOfDiscountOffMarketValueForSharesAvailableUnderEmployeeStockPurchasePlan
1.23 USD
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
1000000 USD
CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
1000000 USD
CY2010 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
4000000 USD
CY2011 luv Share Based Compensation Arrangement By Share Based Payment Award Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedInPeriodTotalFairValue
13000000 USD
CY2012 luv Share Based Compensation Arrangement By Share Based Payment Award Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedInPeriodTotalFairValue
13000000 USD
CY2012Q4 luv Stock Available For Issue Number Employee Stock Purchase Plan
StockAvailableForIssueNumberEmployeeStockPurchasePlan
3000000 shares
CY2012 luv Percentage Of Market Value For Shares Available Under Employee Stock Purchase Plan
PercentageOfMarketValueForSharesAvailableUnderEmployeeStockPurchasePlan
0.9 pure
CY2012 us-gaap Defined Benefit Plan Effect Of One Percentage Point Increase On Accumulated Postretirement Benefit Obligation
DefinedBenefitPlanEffectOfOnePercentagePointIncreaseOnAccumulatedPostretirementBenefitObligation
11000000 USD
CY2011 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
-46000000 USD
CY2011 us-gaap Other Comprehensive Income Loss Reclassification Adjustment On Derivatives Included In Net Income Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentOnDerivativesIncludedInNetIncomeTax
69000000 USD
CY2012 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
3000000 USD
CY2012 us-gaap Other Comprehensive Income Loss Reclassification Adjustment On Derivatives Included In Net Income Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentOnDerivativesIncludedInNetIncomeTax
63000000 USD
CY2012 us-gaap Common Stock Voting Rights
CommonStockVotingRights
entitled to one vote per share on all matters submitted to a vote of the Shareholders
CY2012Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
36000000 shares
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
26000000 shares
CY2012 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
16000000 USD
CY2011 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
13000000 USD
CY2010 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
12000000 USD
CY2012Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
23000000 USD
CY2012 luv Discount Percentage Off Market Value For Shares Available Under Employee Stock Purchase Plan
DiscountPercentageOffMarketValueForSharesAvailableUnderEmployeeStockPurchasePlan
0.1 pure
CY2012 us-gaap Defined Benefit Plan Effect Of One Percentage Point Decrease On Service And Interest Cost Components1
DefinedBenefitPlanEffectOfOnePercentagePointDecreaseOnServiceAndInterestCostComponents1
-3000000 USD
CY2012 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y1M6D
CY2011 luv Aggregate Cost Of Discount Off Market Value For Shares Available Under Employee Stock Purchase Plan
AggregateCostOfDiscountOffMarketValueForSharesAvailableUnderEmployeeStockPurchasePlan
1.03 USD
CY2012 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
2200000 shares
CY2011 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
1700000 shares
CY2010 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
1300000 shares
CY2010Q4 luv Weighted Average Fair Value Of Stock Purchase Right Under Employee Stock Purchase Plan
WeightedAverageFairValueOfStockPurchaseRightUnderEmployeeStockPurchasePlan
11.25
CY2011Q4 luv Weighted Average Fair Value Of Stock Purchase Right Under Employee Stock Purchase Plan
WeightedAverageFairValueOfStockPurchaseRightUnderEmployeeStockPurchasePlan
9.73
CY2012Q4 luv Weighted Average Fair Value Of Stock Purchase Right Under Employee Stock Purchase Plan
WeightedAverageFairValueOfStockPurchaseRightUnderEmployeeStockPurchasePlan
8.01
CY2012 luv Aggregate Cost Of Discount Off Market Value For Shares Available Under Employee Stock Purchase Plan
AggregateCostOfDiscountOffMarketValueForSharesAvailableUnderEmployeeStockPurchasePlan
0.89 USD
CY2012 luv Defined Contribution Pension Plans Maximum Age Requirement For Paying Medical And Dental Premiums With Accrued Unused Sick Time
DefinedContributionPensionPlansMaximumAgeRequirementForPayingMedicalAndDentalPremiumsWithAccruedUnusedSickTime
65 Years
CY2012 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
370000000 USD
CY2011 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
316000000 USD
CY2010 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
350000000 USD
CY2011Q4 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
107000000 USD
CY2012 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
20000000 USD
CY2012 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
4000000 USD
CY2012 us-gaap Defined Benefit Plan Benefits Paid
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5000000 USD
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