Southwest Airlines was founded in 1967 and is headquartered in Dallas, US

Chairman, President & CEO

EVP & CFO

EVP & COO

SVP, General Counsel and Corporate Secretary

SVP & Chief Information Officer

EVP, Corporate Services

VP Southwest Airlines University

SVP, Operational Performance

EVP & CCO

Southwest Airlines has an office in Dallas

Dallas, US (HQ)

2702 Love Field Drive

Southwest Airlines's revenue was reported to be $4.9 b in Q1, 2017

USD

## Revenue (Q1, 2017) | 4.9 b |

## Net income (Q1, 2017) | 351 m |

## EBIT (Q1, 2017) | 658 m |

## Market capitalization (21-Jul-2017) | 36.8 b |

## Cash (31-Mar-2017) | 1.9 b |

Southwest Airlines's current market capitalization is $36.8 b.

- Source: SEC Filings

USD | FY, 2013^{} | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} |
---|---|---|---|---|

## Revenue | 17.7 b | 18.6 b | 19.8 b | 20.4 b |

## Revenue growth, % | 4% | 5% | 7% | 3% |

## Operating expense total | 16.4 b | 16.4 b | 15.7 b | 16.7 b |

## EBIT | 1.3 b | 2.2 b | 4.1 b | 3.8 b |

## EBIT margin, % | 7% | 12% | 21% | 18% |

## Interest expense | 131 m | 130 m | 121 m | 122 m |

## Interest income | (6 m) | (7 m) | 9 m | 24 m |

## Pre tax profit | 1.2 b | 1.8 b | 3.5 b | 3.5 b |

## Income tax expense | 455 m | 680 m | 1.3 b | 1.3 b |

## Net Income | 754 m | 1.1 b | 2.2 b | 2.2 b |

USD | Q2, 2014^{} | Q3, 2014^{} | Q1, 2015^{} | Q2, 2015^{} | Q3, 2015^{} | Q1, 2016^{} | Q2, 2016^{} | Q3, 2016^{} | Q1, 2017^{} |
---|---|---|---|---|---|---|---|---|---|

## Revenue | 5 b | 4.8 b | 4.4 b | 5.1 b | 5.3 b | 4.8 b | 5.4 b | 5.1 b | 4.9 b |

## EBIT | 775 m | 614 m | 780 m | 1.1 b | 1.2 b | 944 m | 1.3 b | 695 m | 658 m |

## EBIT margin, % | 15% | 13% | 18% | 21% | 23% | 20% | 24% | 14% | 13% |

## Interest income | (2 m) | (2 m) | (1 m) | (2 m) | (2 m) | (5 m) | (6 m) | (6 m) | (7 m) |

## Pre tax profit | 746 m | 525 m | 723 m | 977 m | 933 m | 816 m | 1.3 b | 618 m | 553 m |

## Net Income | 465 m | 329 m | 453 m | 608 m | 584 m | 511 m | 820 m | 388 m | 351 m |

- Source: SEC Filings

USD | FY, 2013^{} | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} |
---|---|---|---|---|

## Cash | 1.4 b | 1.3 b | 1.6 b | 1.7 b |

## Inventories | 467 m | 342 m | 311 m | 337 m |

## Current Assets | 4.5 b | 4.4 b | 4 b | 4.5 b |

## PP&E | 13.4 b | 14.3 b | 15.6 b | 17 b |

## Goodwill | 970 m | 970 m | 970 m | 970 m |

## Total Assets | 19.3 b | 20.2 b | 21.3 b | 23.3 b |

## Accounts Payable | 1.2 b | 1.2 b | 1.2 b | 1.2 b |

## Total Debt | 2.8 b | 2.7 b | 3.2 b | 2.8 b |

## Current Liabilities | 5.7 b | 5.9 b | 7.4 b | 6.8 b |

## Additional Paid-in Capital | 1.2 b | 1.3 b | 1.4 b | 1.4 b |

## Retained Earnings | 6.4 b | 7.4 b | 9.4 b | 11.4 b |

## Total Equity | 7.3 b | 6.8 b | 7.4 b | 8.4 b |

## Debt to Equity Ratio | 0.4 x | 0.4 x | 0.4 x | 0.3 x |

## Debt to Assets Ratio | 0.1 x | 0.1 x | 0.1 x | 0.1 x |

## Financial Leverage | 2.6 x | 3 x | 2.9 x | 2.8 x |

USD | Q2, 2014^{} | Q3, 2014^{} | Q1, 2015^{} | Q2, 2015^{} | Q3, 2015^{} | Q1, 2016^{} | Q2, 2016^{} | Q3, 2016^{} | Q1, 2017^{} |
---|---|---|---|---|---|---|---|---|---|

## Cash | 1.9 b | 1.8 b | 2 b | 1.8 b | 1.7 b | 2.4 b | 2 b | 2 b | 1.9 b |

## Current Assets | 5.3 b | 5 b | 5 b | 4.6 b | 4.6 b | 4.6 b | 4.5 b | 4.8 b | 4.7 b |

## PP&E | 13.7 b | 14 b | 14.6 b | 14.9 b | 14.9 b | 16 b | 16.3 b | 16.5 b | 17.3 b |

## Goodwill | 970 m | 970 m | 970 m | 970 m | 970 m | 970 m | 970 m | 970 m | 970 m |

## Total Assets | 20.9 b | 20.5 b | 21.2 b | 21.1 b | 21.2 b | 22.2 b | 22.4 b | 23 b | 23.8 b |

## Accounts Payable | 1.3 b | 1.2 b | 1.1 b | 1.1 b | 1.2 b | 1.2 b | 1.2 b | 1 b | 1.2 b |

## Current Liabilities | 7 b | 6.4 b | 6.9 b | 6.9 b | 7.1 b | 8.3 b | 7.8 b | 7.8 b | 7.5 b |

## Common Stock | 808 m | 808 m | 808 m | 808 m | 808 m | 808 m | 808 m | 808 m | 808 m |

## Additional Paid-in Capital | 1.3 b | 1.3 b | 1.3 b | 1.3 b | 1.3 b | 1.4 b | 1.4 b | 1.4 b | 1.4 b |

## Retained Earnings | 7 b | 7.3 b | 7.8 b | 8.4 b | 8.9 b | 9.9 b | 10.6 b | 11 b | 11.7 b |

## Total Equity | 7.5 b | 7.4 b | 6.9 b | 7.2 b | 7 b | 7.5 b | 7.8 b | 8 b | 8.2 b |

## Financial Leverage | 2.8 x | 2.8 x | 3.1 x | 2.9 x | 3 x | 3 x | 2.9 x | 2.9 x | 2.9 x |

USD | FY, 2013^{} | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} |
---|---|---|---|---|

## Net Income | 754 m | 1.1 b | 2.2 b | 2.2 b |

## Depreciation and Amortization | 1.2 b | |||

## Cash From Operating Activities | 2.5 b | 2.9 b | 3.2 b | 4.3 b |

## Capital Expenditures | (1.4 b) | (1.7 b) | (2 b) | (2 b) |

## Cash From Investing Activities | (1.4 b) | (1.7 b) | (1.9 b) | (2.3 b) |

## Cash From Financing Activities | (851 m) | (1.2 b) | (1 b) | (1.9 b) |

## Interest Paid | 133 m | 128 m | 105 m | 100 m |

## Income Taxes Paid | 346 m | 155 m | 1.4 b | 902 m |

## Free Cash Flow | 3.9 b | 4.7 b | 5.3 b | 2.3 b |

USD | Q2, 2014^{} | Q3, 2014^{} | Q1, 2015^{} | Q2, 2015^{} | Q3, 2015^{} | Q1, 2016^{} | Q2, 2016^{} | Q3, 2016^{} | Q1, 2017^{} |
---|---|---|---|---|---|---|---|---|---|

## Net Income | 465 m | 329 m | 453 m | 608 m | 584 m | 511 m | 820 m | 388 m | 351 m |

## Depreciation and Amortization | 228 m | 238 m | 244 m | 250 m | 258 m | 290 m | 299 m | 315 m | 318 m |

## Accounts Payable | 1.3 b | 1.2 b | 1.1 b | 1.1 b | 1.2 b | 1.2 b | 1.2 b | 1 b | 1.2 b |

USD | Y, 2017 |
---|---|

## Revenue/Employee | 92 k |

## Financial Leverage | 2.9 x |