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SOUTHWEST AIRLINES CO

For the period ended Sep 30, 2024. Filed Oct 28, 2024.

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About 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.

Sep 30, 2024 · Filed Oct 28, 2024

LUV$46.30+4.2%Stored close · as of Nov 9, 2026

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6. Net Income Per Share

  1. 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. The Company paid approximately $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 September 30,Nine months ended September 30,
2024202320242023
NUMERATOR:
Net income$67$193$204$717
Add: Interest expense—(a)51515
Net income attributable to common stockholders$67$198$219$732
DENOMINATOR:
Weighted-average shares outstanding, basic599596598595
Dilutive effects of Convertible Notes—424342
Dilutive effect of restricted stock units2222
Adjusted weighted-average shares outstanding, diluted601640643639
NET INCOME PER SHARE:
Basic$0.11$0.32$0.34$1.20
Diluted$0.11$0.31$0.34$1.15
Antidilutive amounts excluded from calculations:
Convertible debt44———
Restricted stock units—111

(a) For the three months ended September 30, 2024, Interest expense is not added back to the numerator due to the Convertible Notes being anti-dilutive.

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