SOUTHWEST AIRLINES CO
For the period ended Mar 31, 2026. Filed Apr 23, 2026.
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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.
Mar 31, 2026 · Filed Apr 23, 2026
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6. Net Income (Loss) Per Share
- NET INCOME (LOSS) PER SHARE
The following table sets forth the computation of basic and diluted net income (loss) per share (in millions, except per share amounts). Basic net income (loss) per share is calculated by dividing Net income (loss) by the weighted average of shares outstanding during the period. Diluted net income (loss) 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. During second quarter 2025, the Company's remaining balance of 1.25 percent Convertible Senior Notes due 2025 (the "Convertible Notes") of$1.6 billion was repaid, settling both principal and accrued interest. For the three months ended March 31, 2025, the Convertible Notes were determined to be antidilutive.
| Three months ended March 31, | ||
|---|---|---|
| 2026 | 2025 | |
| NUMERATOR: | ||
| Net income (loss) attributable to common stockholders | $227 | $(149) |
| DENOMINATOR: | ||
| Weighted-average shares outstanding, basic | 498 | 584 |
| Dilutive effect of restricted stock units | 5 | — |
| Weighted-average shares outstanding, diluted | 503 | 584 |
| NET INCOME (LOSS) PER SHARE: | ||
| Basic | $0.45 | $(0.26) |
| Diluted | $0.45 | $(0.26) |
| Antidilutive amounts excluded from calculations: | ||
| Convertible debt | — | 44 |
| Restricted stock units | — | 3 |
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