SOUTHWEST AIRLINES CO
For the period ended Dec 31, 2023. Filed Feb 6, 2024.
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FY2023 · Filed Feb 6, 2024
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Southwest Airlines Co. Consolidated Balance Sheet
(in millions, except share data)
| December 31, 2023 | December 31, 2022 | |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $9,288 | $9,492 |
| Short-term investments | 2,186 | 2,800 |
| Accounts and other receivables | 1,154 | 1,040 |
| Inventories of parts and supplies, at cost | 807 | 790 |
| Prepaid expenses and other current assets | 520 | 686 |
| Total current assets | 13,955 | 14,808 |
| Property and equipment, at cost: | ||
| Flight equipment | 26,060 | 23,725 |
| Ground property and equipment | 7,460 | 6,855 |
| Deposits on flight equipment purchase contracts | 236 | 376 |
| Assets constructed for others | 62 | 28 |
| 33,818 | 30,984 | |
| Less allowance for depreciation and amortization | 14,443 | 13,642 |
| 19,375 | 17,342 | |
| Goodwill | 970 | 970 |
| Operating lease right-of-use assets | 1,223 | 1,394 |
| Other assets | 964 | 855 |
| $36,487 | $35,369 | |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||
| Current liabilities: | ||
| Accounts payable | $1,862 | $2,004 |
| Accrued liabilities | 3,606 | 2,043 |
| Current operating lease liabilities | 208 | 225 |
| Air traffic liability | 6,551 | 6,064 |
| Current maturities of long-term debt | 29 | 42 |
| Total current liabilities | 12,256 | 10,378 |
| Long-term debt less current maturities | 7,978 | 8,046 |
| Air traffic liability - noncurrent | 1,728 | 2,186 |
| Deferred income taxes | 2,044 | 1,985 |
| Noncurrent operating lease liabilities | 985 | 1,118 |
| Other noncurrent liabilities | 981 | 969 |
| Stockholders' equity: | ||
| Common stock, $1.00 par value: 2,000,000,000 shares authorized; 888,111,634 shares issued in 2023 and 2022 | 888 | 888 |
| Capital in excess of par value | 4,153 | 4,037 |
| Retained earnings | 16,297 | 16,261 |
| Accumulated other comprehensive income | — | 344 |
| Treasury stock, at cost: 291,599,001 and 294,111,813 shares in 2023 and 2022, respectively | (10,823) | (10,843) |
| Total stockholders' equity | 10,515 | 10,687 |
| $36,487 | $35,369 | |
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