Southwest Airlines 1998 Annual Report Download - page 43

Download and view the complete annual report

Please find page 43 of the 1998 Southwest Airlines annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 69

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69

43
SOUTHWEST AIRLINES CO. ¤ SIX STORIES OF FREEDOM
CONSOLIDATED STATEMENT OF STOCKHOLDERS’ EQUITY
YEARS ENDED DECEMBER 31, 1998, 1997, and 1996
(In thousands except per share
amounts)
Common
Stock
Capital in
Excess of
Par Value
Retained
Earnings
Treasury
Stock Total
Balance at December 31, 1995 $144,033 $162,704 $1,120,581 $ - $1,427,318
Issuance of common stock
upon exercise of executive
stock options and pursuant to
Employee stock option and
purchase plans (Note 8) 1,079 14,513 - - 15,592
Tax benefit of options exercised
-4,433 - - 4,433
Cash dividends, $.0195 per
share - - (6,368) -(6,368)
Net income – 1996 --207,337 -207,337
Balance at December 31, 1996 145,112 181,650 1,321,550 -1,648,312
Three-for-two stock split
(Note 7) 73,578 (73,578) - - -
Issuance of common stock
upon exercise of executive
stock options and pursuant to
Employee stock option and
purchase plans (Note 8) 2,517 37,818 - - 40,335
Tax benefit of options exercised
-9,806 - - 9,806
Cash dividends, $.0221 per
share - - (7,207) -(7,207)
Net income – 1997 --317,772 -317,772
Balance at December 31, 1997 221,207 155,696 1,632,115 -2,009,018
Three-for-two stock split
(Note 7) 111,894 (111,894) - - -
Purchase of shares of
treasury stock (Note 7) - - - (100,000) (100,000)
Issuance of common and
treasury stock upon
exercise of executive stock
options and pursuant to
Employee stock option and
purchase plans (Note 8) 2,803 24,434 (10,184) 27,219 44,272
Tax benefit of options
exercised -21,584 - - 21,584
Cash dividends, $.0283 per
share - - (10,387) -(10,387)
Net income – 1998 --433,431 -433,431
Balance at December 31, 1998 $335,904 $89,820 $2,044,975 $(72,781) $2,397,918
See accompanying notes.