SOUTHWEST AIRLINES CO
For the period ended Dec 31, 2024. Filed Feb 7, 2025.
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FY2024 · Filed Feb 7, 2025
LUV$46.32+0.0%Stored close · as of Nov 10, 2026
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Southwest Airlines Co. Consolidated Statement of Income
(in millions, except per share amounts)
| Year ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| OPERATING REVENUES: | |||
| Passenger | $24,980 | $23,637 | $21,408 |
| Freight | 175 | 175 | 177 |
| Other | 2,328 | 2,279 | 2,229 |
| Total operating revenues | 27,483 | 26,091 | 23,814 |
| OPERATING EXPENSES: | |||
| Salaries, wages, and benefits | 12,240 | 11,152 | 9,376 |
| Fuel and oil | 5,812 | 6,217 | 5,975 |
| Maintenance materials and repairs | 1,353 | 1,188 | 852 |
| Landing fees and airport rentals | 1,962 | 1,789 | 1,508 |
| Depreciation and amortization | 1,657 | 1,522 | 1,351 |
| Other operating expenses | 4,138 | 3,999 | 3,735 |
| Total operating expenses | 27,162 | 25,867 | 22,797 |
| OPERATING INCOME | 321 | 224 | 1,017 |
| NON-OPERATING EXPENSES (INCOME): | |||
| Interest expense | 249 | 259 | 340 |
| Capitalized interest | (35) | (23) | (39) |
| Interest income | (497) | (583) | (217) |
| Loss on extinguishment of debt | 2 | — | 193 |
| Other (gains) losses, net | 4 | (62) | 12 |
| Total non-operating expenses (income) | (277) | (409) | 289 |
| INCOME BEFORE INCOME TAXES | 598 | 633 | 728 |
| PROVISION FOR INCOME TAXES | 133 | 168 | 189 |
| NET INCOME | $465 | $465 | $539 |
| NET INCOME PER SHARE, BASIC | $0.78 | $0.78 | $0.91 |
| NET INCOME PER SHARE, DILUTED | $0.76 | $0.76 | $0.87 |
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