Southwest Airlines 1996 Annual Report Download - page 31

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31
CONSOLIDATED BALANCE SHEET
(in thousands except share and per share amounts)
December 31,
1996 1995
ASSETS
Current assets:
Cash and cash equivalents................................................... $581,841 $317,363
Accounts receivable............................................................. 73,440 79,781
Inventories of parts and supplies, at cost.............................. 51,094 41,032
Deferred income taxes (Note 9) ........................................... 11,560 10,476
Prepaid expenses and other current assets............................ 33,055 24,484
Total current assets....................................................... 750,990 473,136
Property and equipment, at cost
(Notes 2 and 5):
Flight equipment ................................................................. 3,435,304 3,024,702
Ground property and equipment .......................................... 523,958 435,822
Deposits on flight equipment purchase contracts ................. 198,366 323,864
4,157,628 3,784,388
Less allowance for depreciation........................................... 1,188,405 1,005,081
2,969,223 2,779,307
Other assets................................................................................ 3,266 3,679
$3,723,479 $3,256,122
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable ................................................................ $214,232 $116,530
Accrued liabilities (Note 3).................................................. 380,747 349,419
Air traffic liability............................................................... 158,098 131,156
Current maturities of long-term debt ................................... 12,327 13,516
Total current liabilities 765,404 610,621
Long-term debt less current maturities (Note 4).......................... 650,226 661,010
Deferred income taxes (Note 9) .................................................. 349,987 281,650
Deferred gains from sale and leaseback of aircraft...................... 274,891 245,154
Other deferred liabilities ............................................................ 34,659 30,369
Commitments and contingencies (Notes 2, 5, and 9)
Stockholders’ equity (Notes 6 and 7):
Common stock, $1.00 par value:
680,000,000 shares authorized; 145,112,090 and
144,033,273 shares issued and outstanding in 1996 and
1995, respectively................................................................ 145,112 144,033
Capital in excess of par value .............................................. 181,650 162,704
Retained earnings................................................................ 1,321,550 1,120,581
Total stockholders’ equity............................................. 1,648,312 1,427,318
$3,723,479 $3,256,122
See accompanying notes.