Southwest Airlines 2009 Annual Report Download - page 58
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Item 8. Financial Statements and Supplementary Data
SOUTHWEST AIRLINES CO.
CONSOLIDATED BALANCE SHEET
(In millions, except share data)
DECEMBER 31,
2009 2008
ASSETS
Current assets:
Cash and cash equivalents ................................................. $ 1,114 $ 1,368
Short-term investments ................................................... 1,479 435
Accounts and other receivables ............................................. 169 209
Inventories of parts and supplies, at cost ..................................... 221 203
Deferred income taxes .................................................... 291 365
Prepaid expenses and other current assets .................................... 84 73
Total current assets .................................................. 3,358 2,653
Property and equipment, at cost:
Flight equipment ........................................................ 13,719 13,722
Ground property and equipment ............................................ 1,922 1,769
Deposits on flight equipment purchase contracts ............................... 247 380
15,888 15,871
Less allowance for depreciation and amortization .............................. 5,254 4,831
10,634 11,040
Other assets ................................................................ 277 375
$14,269 $14,068
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable ....................................................... $ 746 $ 668
Accrued liabilities ....................................................... 696 1,012
Air traffic liability ....................................................... 1,044 963
Current maturities of long-term debt ......................................... 190 163
Total current liabilities ............................................... 2,676 2,806
Long-term debt less current maturities ........................................... 3,325 3,498
Deferred income taxes ........................................................ 2,207 1,904
Deferred gains from sale and leaseback of aircraft .................................. 102 105
Other non-current liabilities ................................................... 493 802
Commitments and contingencies
Stockholders’ equity:
Common stock, $1.00 par value: 2,000,000,000 shares authorized; 807,611,634 shares
issued in 2009 and 2008 ................................................ 808 808
Capital in excess of par value .............................................. 1,216 1,215
Retained earnings ....................................................... 4,983 4,919
Accumulated other comprehensive loss ...................................... (578) (984)
Treasury stock, at cost: 64,820,703 and 67,619,062 shares in 2009 and 2008,
respectively .......................................................... (963) (1,005)
Total stockholders’ equity ............................................. 5,466 4,953
$14,269 $14,068
See accompanying notes.
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