Southwest Airlines Co. reported unaudited consolidated earnings and operating results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company reported total operating revenues of $5,274 million compared to $5,076 million a year ago. Operating income was $773 million compared to $846 million a year ago. Income before income taxes was $737 million compared to $809 million a year ago. Net income was $1,888 million or $3.18 per diluted share compared to $522 million or $0.84 per diluted share a year ago. Net cash provided by operating activities was $562 million compared to $709 million a year ago. Capital expenditures were $520 million compared to $674 million a year ago.

For the year, the company reported total operating revenues of $21,171 million compared to $20,425 million a year ago. Operating income was $3,515 million compared to $3,760 million a year ago. Income before income taxes was $3,251 million compared to $3,547 million a year ago. Net income was $3,488 million or $5.79 per diluted share compared to $2,244 million or $3.55 per diluted share a year ago. Adjusted operating income, non-GAAP was $3,429 million compared to $3,916 million a year ago. Net cash provided by operating activities was $3,929 million compared to $4,293 million a year ago. Capital expenditures were $2,123 million compared to $2,038 million a year ago.

For the quarter, the company reported revenue passengers carried of 33,695,001 compared to 32,006,767 a year ago. Revenue passenger miles were 32,189,839,000 compared to 31,366,176,000 a year ago. Available seat miles were 37,886,814,000 compared to 37,147,109,000 a year ago. Load factor was 85.0% compared to 84.4% a year ago.

For the year, the company reported revenue passengers carried of 130,256,190 compared to 124,719,765 a year ago. Revenue passenger miles were 129,041,420,000 compared to 124,797,986,000 a year ago. Available seat miles were 153,811,072,000 compared to 148,522,051,000 a year ago. Load factor was 83.9% compared to 84.0% a year ago.

The company expects first quarter 2018 RASM to increase in the 1 to 2% range, as compared with first quarter 2017.

The company expects its 2018 available seat mile year-over-year growth to be in the low 5% range, with first half 2018 year-over-year growth in the low 3% range and second half 2018 year-over-year growth in the low 7% range. The company expecting their 2018 CapEx to decrease versus 2017 and are currently estimating 2018 CapEx to be approximately $1.9 billion. Included in this total, The company expects 2018 aircraft CapEx of approximately $1 billion and non-aircraft CapEx in the $900 million range.