SOUTHWEST AIRLINES CO
For the period ended Jun 30, 2024. Filed Jul 29, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Jul 29, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
6. Net Income Per Share
| Notes to Condensed Consolidated Financial Statements | Southwest Airlines Co.Notes to Condensed Consolidated Financial Statements(unaudited) |
|---|
- NET INCOME PER SHARE
The following table sets forth the computation of basic and diluted net income per share (in millions, except per share amounts). Basic net income per share is calculated by dividing net income by the weighted average of shares outstanding during the period. Diluted net income per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. For the three and six months ended June 30, 2024 and 2023, an immaterial number of shares related to the Company's restricted stock units and stock warrants, were excluded from the denominator because inclusion of such shares would be antidilutive. The Company paid $6 million during June 2024 to repurchase and cancel its outstanding stock warrants, previously issued in connection with the Payroll Support Program.
| Three months ended June 30, | Six months ended June 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| NUMERATOR: | ||||
| Net income | $367 | $683 | $137 | $524 |
| Add: Interest expense | 5 | 5 | 9 | 10 |
| Net income attributable to common stockholders | $372 | $688 | $146 | $534 |
| DENOMINATOR: | ||||
| Weighted-average shares outstanding, basic | 599 | 595 | 598 | 595 |
| Dilutive effects of Convertible Notes | 43 | 42 | 43 | 42 |
| Dilutive effect of restricted stock units | 1 | 2 | 2 | 2 |
| Adjusted weighted-average shares outstanding, diluted | 643 | 639 | 643 | 639 |
| NET INCOME PER SHARE: | ||||
| Basic | $0.61 | $1.15 | $0.23 | $0.88 |
| Diluted | $0.58 | $1.08 | $0.23 | $0.84 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.