Cash flow Southwest Airlines Co.

Equities

LUV

US8447411088

Airlines

Market Closed - Nyse Other stock markets 01:30:02 14/09/2024 am IST			5-day change	1st Jan Change
28.68 ^USD	-0.66%		-3.43%	-0.69%

13/09	Boeing strike puts spotlight on 737 MAX customers waiting for deliveries	RE
12/09	Teamsters signs tentative agreement with Southwest Airlines for flight simulator technicians	RE

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Published financial data: SOUTHWEST AIRLINES CO.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	20.95B	7.83B	14.25B	21.58B	23.81B
Other Revenues, Total	1.48B	1.22B	1.54B	2.23B	2.28B
Total Revenues	22.43B	9.05B	15.79B	23.81B	26.09B
Cost of Goods Sold, Total	15.41B	10.93B	13.63B	17.84B	20B
Gross Profit	7.02B	-1.89B	2.16B	5.98B	6.1B
Selling General & Admin Expenses, Total	225M	157M	186M	226M	266M
Depreciation & Amortization - (IS)	1.22B	1.26B	1.27B	1.35B	1.52B
Other Operating Expenses	2.63B	1.74B	1.88B	3.29B	3.43B
Other Operating Expenses, Total	4.07B	3.16B	3.33B	4.87B	5.22B
Operating Income	2.95B	-5.04B	-1.17B	1.11B	879M
Interest Expense, Total	-82M	-342M	-431M	-301M	-236M
Interest And Investment Income	90M	32M	13M	217M	583M
Net Interest Expenses	8M	-310M	-418M	-84M	347M
Other Non Operating Income (Expenses)	1M	8M	36M	-70M	43M
EBT, Excl. Unusual Items	2.96B	-5.34B	-1.55B	952M	1.27B
Restructuring Charges	-	-1.4B	-	-	-
Merger & Related Restructuring Charges	-	-	-	-	-
Gain (Loss) On Sale Of Investments	-	-	60M	-4M	4M
Gain (Loss) On Sale Of Assets	-	222M	-	-	-
Asset Writedown	-	-32M	-12M	-28M	-
Legal Settlements	-	-	-	-	-107M
Other Unusual Items	-	2.3B	2.83B	-192M	-533M
EBT, Incl. Unusual Items	2.96B	-4.26B	1.32B	728M	633M
Income Tax Expense	657M	-1.18B	348M	189M	168M
Earnings From Continuing Operations	2.3B	-3.07B	977M	539M	465M
Net Income to Company	2.3B	-3.07B	977M	539M	465M
Net Income - (IS)	2.3B	-3.07B	977M	539M	465M
Net Income to Common Incl Extra Items	2.3B	-3.07B	977M	539M	465M
Net Income to Common Excl. Extra Items	2.3B	-3.07B	977M	539M	465M
Per Share Items
Net EPS - Basic	4.28	-5.44	1.65	0.91	0.78
Basic EPS - Continuing Operations	4.28	-5.44	1.65	0.91	0.78
Basic Weighted Average Shares Outstanding	538M	565M	592M	593M	595M
Net EPS - Diluted	4.27	-5.44	1.61	0.87	0.76
Diluted EPS - Continuing Operations	4.27	-5.44	1.61	0.87	0.76
Diluted Weighted Average Shares Outstanding	539M	565M	609M	642M	640M
Normalized Basic EPS	3.44	-5.91	-1.64	1	1.33
Normalized Diluted EPS	3.43	-5.91	-1.59	0.93	1.24
Dividend Per Share	0.7	0.18	-	0.18	0.72
Payout Ratio	16.17	-6.12	-	-	92.04
American Depositary Receipts Ratio (ADR)	1	1	1	1	1
Supplemental Items
EBITDA	3.99B	-3.99B	-112M	2.22B	2.16B
EBITA	2.96B	-5.04B	-1.17B	1.11B	879M
EBIT	2.95B	-5.04B	-1.17B	1.11B	879M
EBITDAR	5.64B	-2.42B	1.58B	3.95B	4.18B
Total Revenues (As Reported)	22.43B	9.05B	15.79B	23.81B	26.09B
Effective Tax Rate - (Ratio)	22.22	27.77	26.26	25.96	26.54
Current Domestic Taxes	712M	-466M	368M	-39M	9M
Total Current Taxes	712M	-466M	368M	-39M	9M
Deferred Domestic Taxes	-55M	-716M	-20M	228M	159M
Total Deferred Taxes	-55M	-716M	-20M	228M	159M
Normalized Net Income	1.85B	-3.34B	-971M	595M	793M
Interest Capitalized	36M	35M	36M	39M	23M
Interest on Long-Term Debt	118M	349M	467M	340M	259M
Supplemental Operating Expense Items
Advertising Expense	212M	156M	185M	224M	266M
Selling and Marketing Expenses	212M	156M	185M	224M	266M
Net Rental Expense, Total	1.65B	1.57B	1.69B	1.72B	2.02B
Imputed Operating Lease Interest Expense	422M	583M	516M	431M	450M
Imputed Operating Lease Depreciation	1.23B	983M	1.18B	1.29B	1.57B
Maintenance & Repair Expenses, Total	1.22B	750M	854M	852M	1.19B
Stock-Based Comp., Other (Total)	55M	17M	58M	84M	86M
Total Stock-Based Compensation	55M	17M	58M	84M	86M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	2.55B	11.06B	12.48B	9.49B	9.29B
Short Term Investments	1.52B	2.27B	3.02B	2.8B	2.19B
Total Cash And Short Term Investments	4.07B	13.33B	15.5B	12.29B	11.47B
Accounts Receivable, Total	165M	81M	141M	202M	304M
Other Receivables	921M	1.05B	1.22B	804M	838M
Total Receivables	1.09B	1.13B	1.36B	1.01B	1.14B
Inventory	529M	414M	537M	790M	807M
Prepaid Expenses	239M	282M	309M	440M	449M
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	48M	13M	329M	280M	83M
Total Current Assets	5.97B	15.17B	18.04B	14.81B	13.96B
Gross Property Plant And Equipment	28.81B	29.16B	29.16B	32B	34.8B
Accumulated Depreciation	-10.69B	-11.74B	-12.73B	-13.64B	-14.44B
Net Property Plant And Equipment	18.13B	17.42B	16.43B	18.36B	20.36B
Long-term Investments	-	-	-	14M	280M
Goodwill	970M	970M	970M	970M	970M
Other Intangibles, Total	296M	295M	295M	295M	296M
Accounts Receivable Long-Term	-	-	-	-	-
Other Long-Term Assets, Total	529M	732M	587M	922M	624M
Total Assets	25.9B	34.59B	36.32B	35.37B	36.49B
Liabilities
Accounts Payable, Total	1.57B	931M	1.28B	2B	1.86B
Accrued Expenses, Total	1.74B	1.66B	1.54B	2.04B	3.61B
Current Portion of Long-Term Debt	739M	137M	371M	-	-
Current Portion of Leases	438M	389M	321M	267M	237M
Unearned Revenue Current, Total	4.46B	4.39B	5.57B	6.06B	6.55B
Other Current Liabilities	-	-	80M	-	-
Total Current Liabilities	8.95B	7.51B	9.16B	10.38B	12.26B
Long-Term Debt	1.3B	9.66B	9.9B	7.9B	7.9B
Long-Term Leases	1.52B	2.02B	1.69B	1.26B	1.06B
Unearned Revenue Non Current	1.05B	3.34B	2.16B	2.19B	1.73B
Pension & Other Post Retirement Benefits	288M	428M	330M	241M	269M
Deferred Tax Liability Non Current	2.36B	1.63B	1.77B	1.98B	2.04B
Other Non Current Liabilities	581M	1.12B	890M	728M	712M
Total Liabilities	16.06B	25.71B	25.91B	24.68B	25.97B
Common Stock, Total	808M	888M	888M	888M	888M
Additional Paid In Capital	1.58B	4.19B	4.22B	4.04B	4.15B
Retained Earnings	17.94B	14.78B	15.77B	16.26B	16.3B
Treasury Stock	-10.44B	-10.88B	-10.86B	-10.84B	-10.82B
Comprehensive Income and Other	-61M	-105M	388M	344M	-
Total Common Equity	9.83B	8.88B	10.41B	10.69B	10.52B
Total Equity	9.83B	8.88B	10.41B	10.69B	10.52B
Total Liabilities And Equity	25.9B	34.59B	36.32B	35.37B	36.49B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	517M	591M	592M	594M	597M
ECS Total Common Shares Outstanding	519M	590M	592M	594M	597M
Book Value / Share	18.94	15.03	17.59	17.99	17.63
Tangible Book Value	8.57B	7.61B	9.15B	9.42B	9.25B
Tangible Book Value Per Share	16.5	12.89	15.45	15.86	15.51
Total Debt	4B	12.2B	12.28B	9.43B	9.2B
Net Debt	-70M	-1.13B	-3.22B	-2.86B	-2.27B
Debt Equivalent Oper. Leases	13.22B	12.53B	13.54B	13.77B	16.18B
Account Code - Inventory Valuation	6	6	6	-	6
Inventories - Others	-	-	-	-	-
Machinery, Total	20.4B	19.64B	19.99B	22.79B	25.46B
Full Time Employees	60.77K	56.5K	55.1K	66.66K	74.81K
Assets under Capital Lease - Gross	1.23B	-	-	-	-
Assets under Capital Lease - Accumulated Depreciation	-455M	-	-	-	-

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	2.3B	-3.07B	977M	539M	465M
Depreciation & Amortization - CF	1.03B	1.05B	1.06B	1.12B	1.28B
Amortization of Goodwill and Intangible Assets - (CF)	15M	-	-	-	-
Depreciation & Amortization, Total	1.04B	1.05B	1.06B	1.12B	1.28B
Amortization of Deferred Charges, Total - (CF)	177M	203M	213M	232M	246M
(Gain) Loss From Sale Of Asset	-	-222M	-	-	-
(Gain) Loss on Sale of Investments - (CF)	-	-	-	4M	-4M
Asset Writedown & Restructuring Costs	-	32M	12M	35M	-
Other Operating Activities, Total	-138M	-787M	161M	378M	-68M
Change In Accounts Receivable	-94M	-294M	-701M	422M	-89M
Change In Accounts Payable	298M	231M	38M	936M	1.39B
Change in Unearned Revenues	440M	1.62B	591M	525M	29M
Change in Other Net Operating Assets	-38M	109M	-28M	-400M	-77M
Cash from Operations	3.99B	-1.13B	2.32B	3.79B	3.16B
Capital Expenditure	-1.03B	-515M	-511M	-3.95B	-3.55B
Investment in Marketable and Equity Securities, Total	324M	-744M	-753M	200M	621M
Other Investing Activities, Total	400M	1.24B	-	-	-
Cash from Investing	-303M	-16M	-1.26B	-3.75B	-2.93B
Short Term Debt Issued, Total	-	4.68B	-	-	-
Long-Term Debt Issued, Total	-	8.94B	1.14B	-	-
Total Debt Issued	-	13.62B	1.14B	-	-
Short Term Debt Repaid, Total	-	-4.68B	-	-	-
Long-Term Debt Repaid, Total	-615M	-839M	-612M	-2.44B	-85M
Total Debt Repaid	-615M	-5.52B	-612M	-2.44B	-85M
Issuance of Common Stock	40M	2.34B	51M	45M	48M
Repurchase of Common Stock	-2B	-451M	-	-	-
Common Dividends Paid	-372M	-188M	-	-	-428M
Common & Preferred Stock Dividends Paid	-372M	-188M	-	-	-428M
Other Financing Activities, Total	-43M	-144M	-216M	-640M	29M
Cash from Financing	-2.99B	9.66B	359M	-3.03B	-436M
Net Change in Cash	694M	8.52B	1.42B	-2.99B	-204M
Supplemental Items
Cash Interest Paid	88M	212M	336M	305M	228M
Cash Income Tax Paid (Refund)	779M	19M	445M	20M	18M
Levered Free Cash Flow	1.95B	-3.34B	617M	-353M	400M
Unlevered Free Cash Flow	2B	-3.13B	886M	-165M	547M
Change In Net Working Capital	85M	732M	-799M	-1.66B	-1.94B
Net Debt Issued / Repaid	-615M	8.1B	524M	-2.44B	-85M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	7.07	-10.42	-2.06	1.93	1.53
Return on Total Capital	13.61	-18.05	-3.34	3.23	2.76
Return On Equity %	23.37	-32.86	10.13	5.11	4.39
Return on Common Equity	23.37	-32.86	10.13	5.11	4.39
Margin Analysis
Gross Profit Margin %	31.3	-20.84	13.69	25.09	23.36
SG&A Margin	1	1.74	1.18	0.95	1.02
EBITDA Margin %	17.79	-44.09	-0.71	9.34	8.26
EBITA Margin %	13.21	-55.71	-7.42	4.64	3.37
EBIT Margin %	13.14	-55.71	-7.42	4.64	3.37
Income From Continuing Operations Margin %	10.26	-33.97	6.19	2.26	1.78
Net Income Margin %	10.26	-33.97	6.19	2.26	1.78
Net Avail. For Common Margin %	10.26	-33.97	6.19	2.26	1.78
Normalized Net Income Margin	8.24	-36.91	-6.15	2.5	3.04
Levered Free Cash Flow Margin	8.71	-36.91	3.91	-1.48	1.53
Unlevered Free Cash Flow Margin	8.94	-34.54	5.61	-0.69	2.1
Asset Turnover
Asset Turnover	0.86	0.3	0.45	0.66	0.73
Fixed Assets Turnover	1.22	0.51	0.93	1.37	1.35
Receivables Turnover (Average Receivables)	127.34	63.63	128.41	125.86	94.12
Inventory Turnover (Average Inventory)	31.13	23.19	28.66	26.88	25.04
Short Term Liquidity
Current Ratio	0.67	2.02	1.97	1.43	1.14
Quick Ratio	0.58	1.93	1.84	1.28	1.03
Operating Cash Flow to Current Liabilities	0.45	-0.15	0.25	0.37	0.26
Days Sales Outstanding (Average Receivables)	2.87	5.75	2.84	2.9	3.88
Days Outstanding Inventory (Average Inventory)	11.73	15.78	12.74	13.58	14.58
Average Days Payable Outstanding	35.26	42.37	29.37	33.15	35.25
Cash Conversion Cycle (Average Days)	-20.67	-20.84	-13.79	-16.67	-16.8
Long Term Solvency