SOUTHWEST AIRLINES CO
For the period ended Dec 31, 2025. Filed Feb 5, 2026.
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FY2025 · Filed Feb 5, 2026
LUV$46.32+0.0%Stored close · as of Nov 10, 2026
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Southwest Airlines Co. Consolidated Balance Sheet
(in millions, except share data)
| December 31, 2025 | December 31, 2024 | |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $3,231 | $7,509 |
| Short-term investments | — | 1,216 |
| Accounts and other receivables | 1,149 | 1,110 |
| Inventories of parts and supplies, at cost | 775 | 800 |
| Prepaid expenses and other current assets | 490 | 639 |
| Total current assets | 5,645 | 11,274 |
| Property and equipment, at cost: | ||
| Flight equipment | 26,293 | 25,202 |
| Ground property and equipment | 9,163 | 8,244 |
| Deposits on flight equipment purchase contracts | 401 | 413 |
| Assets constructed for others | 88 | 88 |
| 35,945 | 33,947 | |
| Less allowance for depreciation and amortization | 15,700 | 14,891 |
| 20,245 | 19,056 | |
| Goodwill | 970 | 970 |
| Operating lease right-of-use assets | 1,089 | 1,369 |
| Other assets | 1,112 | 1,081 |
| $29,061 | $33,750 | |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||
| Current liabilities: | ||
| Accounts payable | $1,991 | $1,818 |
| Accrued liabilities | 2,349 | 2,206 |
| Current operating lease liabilities | 312 | 328 |
| Air traffic liability | 5,945 | 6,294 |
| Current maturities of long-term debt | 324 | 1,630 |
| Total current liabilities | 10,921 | 12,276 |
| Long-term debt less current maturities | 4,577 | 5,069 |
| Air traffic liability - noncurrent | 1,219 | 1,948 |
| Deferred income taxes | 2,289 | 2,167 |
| Noncurrent operating lease liabilities | 768 | 1,031 |
| Other noncurrent liabilities | 1,306 | 909 |
| Stockholders' equity: | ||
| Common stock, $1.00 par value: 2,000,000,000 shares authorized; 888,111,634 shares issued in 2025 and 2024 | 888 | 888 |
| Capital in excess of par value | 4,322 | 4,199 |
| Retained earnings | 16,388 | 16,332 |
| Accumulated other comprehensive loss | (24) | (25) |
| Treasury stock, at cost: 372,530,238 and 294,797,959 shares in 2025 and 2024, respectively | (13,593) | (11,044) |
| Total stockholders' equity | 7,981 | 10,350 |
| $29,061 | $33,750 | |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.