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LUV · XBRL financial data

Southwest Airlines financial statements, every quarter

The same tables from 12 filings, lined up. Matched by XBRL tag: renamed lines keep their history.

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How these numbers work
  • Every number comes from the company's XBRL financial data filed with the SEC, and each one links to its filing.
  • Lines are matched by XBRL tag, so a line renamed between filings keeps its history.
  • * marks a quarter worked out from the filing totals: the 10-K year minus the first three quarters, or a year-to-date total minus the earlier one. Fourth-quarter earnings per share is fourth-quarter net income over the fourth-quarter weighted shares.
  • 0 means a filing states zero; a dash (—) means no filing states that number.
  • “year only” means the 10-K gives the full year but not the quarters needed to work out the fourth. A worked-out quarter of revenue, cost of revenue or operating cash flow more than twice the company's largest quarter of the two years before is shown this way too.
  • Gross profit is shown as the company reports it; a worked-out quarter must equal revenue less cost of revenue for that quarter, or it is a dash.
  • Operating income can be above gross profit when the company books other operating income between the two, shown on its own line.
  • Shares outstanding come from each filing's cover page, as of the date printed there.
  • Quarters are fiscal: Q2 FY27 is the second quarter of the company's fiscal 2027.

Income statement

CSV

Fiscal quarters (LUV's year ends in late December)

In millions of dollarsDec 31, 2023Mar 31, 2024Jun 30, 2024Sep 30, 2024Dec 31, 2024Mar 31, 2025Jun 30, 2025Sep 30, 2025Dec 31, 2025Mar 31, 2026Jun 30, 2026Sep 30, 2026
Revenue from contracts with customers6,823*6,3297,3546,8706,930*6,4287,2446,9497,442*7,2498,4328,422
Operating income (loss)(404)*(393)39838278*(223)22535391*330285379
Interest income158*141130121105*84543433*233333
Interest expense66*65636358*46393547*546470
Other income (expense)18*125(16)(5)*(18)272115*(26)401
Income tax expense (benefit)(34)*(67)1112268*(43)671485*587385
Net income (loss)(252)*(231)36767261*(149)21354323*227233270
Earnings per share, basic USD per share(0.42)*(0.39)0.610.110.44*(0.26)0.400.10—0.450.480.55
Earnings per share, diluted USD per share(0.37)*(0.39)0.580.11—(0.26)0.390.100.56*0.450.470.55
Weighted average shares, basic millions of shares595*597599599597*584538523516*498489489
Weighted average shares, diluted millions of shares686*597643601731*584541526581*503493494

Balance sheet

CSV

Fiscal quarters (LUV's year ends in late December)

In millions of dollarsDec 31, 2023Mar 31, 2024Jun 30, 2024Sep 30, 2024Dec 31, 2024Mar 31, 2025Jun 30, 2025Sep 30, 2025Dec 31, 2025Mar 31, 2026Jun 30, 2026Sep 30, 2026
Cash and cash equivalents9,2888,3678,1428,5037,5098,1343,4752,9023,2313,3283,7913,624
Short-term investments2,1862,1451,8608791,2161183641160———
Accounts receivable104586750474760529817178199
Prepaid and other current assets520603619601639618467467490554556572
Total current assets13,95513,28112,75111,93011,27410,7346,0925,3955,6455,9696,4826,506
Property and equipment, net19,37519,56119,66519,77319,05619,15719,40119,70520,24520,37620,64220,988
Right-of-use asset1,2231,1821,1321,1011,3691,3031,2431,1691,0891,019953994
Goodwill970970970970970970970970970970970970
Total assets36,48736,01835,56334,84733,75033,21228,71228,31229,06129,35530,12230,539
Accounts payable1,8621,9492,0281,5181,8181,9251,8111,7081,9912,1142,0721,847
Accrued liabilities3,6062,4001,8702,0962,2061,9782,0402,0912,3492,1702,2472,382
Total current liabilities12,25612,22514,11313,48912,27613,90110,89210,99410,92112,48413,26813,738
Lease liability, non-current9859539158881,031970915846768709660706
Retained earnings16,29715,95916,21816,17816,33216,08016,19916,15816,38816,52616,67216,853
Total stockholders' equity10,51510,19610,46510,41110,3509,3658,0007,7767,9816,8757,0827,329
Total liabilities and equity36,48736,01835,56334,84733,75033,21228,71228,31229,06129,35530,12230,539
Common shares outstanding (cover page) millions of shares597598599600593570525517491489489490

Cash flows

CSV

Fiscal quarters (LUV's year ends in late December)

In millions of dollarsDec 31, 2023Mar 31, 2024Jun 30, 2024Sep 30, 2024Dec 31, 2024Mar 31, 2025Jun 30, 2025Sep 30, 2025Dec 31, 2025Mar 31, 2026Jun 30, 2026Sep 30, 2026
Net income (loss)(252)*(231)36767261*(149)21354323*227233270
Net cash from operating activities425*(104)(23)113476*860401287295*1,418530513
Net cash from investing activities(664)*(585)(206)45873*623(882)(428)(742)*(445)(560)(509)
Share repurchasesyear only0002507501,50025050*1,25000
Dividends paid0*2150216(1)*1071031890*9388176
Net cash from financing activities30*(232)4(210)(1,543)*(858)(4,178)(432)776*(876)493(171)
Net change in cash(209)*(921)(225)361(994)*625(4,659)(573)329*97463(167)

Compare with peers

SIC 4512 and related industry codes, similar size. Each row is the latest quarter reported.

How peers are chosen
  • SIC 4512 and related industry codes with public float (or, where float is missing, quarterly revenue) between 0.2x and 5x the company's.
  • Each row is the latest quarter the company has reported, named in the Quarter column; when that filing is a 10-K, it is the fourth quarter, never the full year.
  • * marks a quarter worked out from the filing totals: for a 10-Q, the year-to-date total less the earlier one.
  • A cell reading “not reported” means the filings give no figure for that quarter alone.
CompanyCash ($M)Revenue, quarter ($M)Operating cash flow, quarter ($M)Shares outstandingQuarter
Southwest Airlines3,6248,422513489.6M 10-QSep 30, 2026
United Airlines Holdings6,64817,875465*324.9M 10-QSep 30, 2026
Delta Air Lines3,78720,1861,713*657.9M 10-QSep 30, 2026
American Airlines Group1,12416,335(153)*662.6M 10-QSep 30, 2026
Alaska Air Group1,0644,065185*111.6M 10-QJun 30, 2026
FedEx Freight Holding Company3882,442not reported149.5M 10-QSep 30, 2026
Fedex7,96122,855not reported234.2M 10-QSep 30, 2026
Skywest721,117131*38.0M 10-QSep 30, 2026

Not investment advice. Not affiliated with the U.S. SEC.