Southwest Airlines 1998 Annual Report Download - page 48

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48
SOUTHWEST AIRLINES CO. ยค SIX STORIES OF FREEDOM
$520.2 million in 2000, $498.7 million in 2001, $515.8 million in 2002, $152.8 million
in 2003,and $89.1 million in 2004.
3. ACCRUED LIABILITIES
(In thousands) 1998 1997
Employee profitsharing and savings plans (Note 9) $123,195 $92,857
Aircraft rentals 121,868 123,669
Vacation pay 54,781 50,812
Other 177,604 159,612
$477,448 $426,950
4. LONG-TERM DEBT
(In thousands) 1998 1997
9 1/4% Notes due 1998 $ - $100,000
9.4% Notes due 2001 100,000 100,000
8 3/4% Notes due 2003 100,000 100,000
8% Notes due 2005 100,000 100,000
7 7/8% Notes due 2007 100,000 100,000
7 3/8% Debentures due 2027 100,000 100,000
Capital leases (Note 5) 133,190 152,324
Other 4,481 -
637,671 752,324
Less current maturities 11,996 121,324
Less debt discount 2,366 2,894
$623,309 $628,106
On February 28, 1997, the Company issued $100 million of senior unsecured 7 3/8%
Debentures due March 1, 2027. Interest is payable semi-annually on March 1 and
September 1. The Debentures may be redeemed, at the option of the Company, in
whole at any time or in part from time to time, at a redemption price equal to the greater
of the principal amount of the Debentures plus accrued interest at the date of
redemption or the sum of the present values of the remaining scheduled payments of
principal and interest thereon, discounted to the date of redemption at the comparable
treasury rate plus 20 basis points, plus accrued interest at the date of redemption.