SOUTHWEST AIRLINES CO

For the period ended Dec 31, 2023. Filed Feb 6, 2024.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 6, 2024

LUV$46.32+0.0%Stored close · as of Nov 10, 2026

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Contents

Southwest Airlines Co. Consolidated Statement of Income

(in millions, except per share amounts)

	Year ended December 31,
	2023	2022	2021
OPERATING REVENUES:
Passenger	$23,637	$21,408	$14,066
Freight	175	177	187
Other	2,279	2,229	1,537
Total operating revenues	26,091	23,814	15,790
OPERATING EXPENSES, NET:
Salaries, wages, and benefits	11,152	9,376	7,743
Payroll support and voluntary Employee programs, net	—	—	(2,960)
Fuel and oil	6,217	5,975	3,310
Maintenance materials and repairs	1,188	852	854
Landing fees and airport rentals	1,789	1,508	1,456
Depreciation and amortization	1,522	1,351	1,272
Other operating expenses	3,999	3,735	2,394
Total operating expenses, net	25,867	22,797	14,069
OPERATING INCOME	224	1,017	1,721
OTHER EXPENSES (INCOME):
Interest expense	259	340	467
Capitalized interest	(23)	(39)	(36)
Interest income	(583)	(217)	(13)
Loss on extinguishment of debt	—	193	28
Other (gains) losses, net	(62)	12	(50)
Total other expenses (income)	(409)	289	396
INCOME BEFORE INCOME TAXES	633	728	1,325
PROVISION FOR INCOME TAXES	168	189	348
NET INCOME	$465	$539	$977
NET INCOME PER SHARE, BASIC	$0.78	$0.91	$1.65
NET INCOME PER SHARE, DILUTED	$0.76	$0.87	$1.61

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.