Southwest Airlines 1999 Annual Report Download - page 27

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SOUTHWEST AIRLINES CO. CONSOLIDATED BALANCE SHEET
DECEMBER 31,
(In thousands except per share amounts)1999 1998
ASSETS
Current assets:
Cash and cash equivalents $ 418,819 $ 378,511
Accounts receivable 73,448 88,799
Inventories of parts and supplies, at cost 65,152 50,035
Deferred income taxes (Note 11) 20,929 20,734
Prepaid expenses and other current assets 52,657 36,076
Total current assets 631,005 574,155
Property and equipment, at cost (Notes 3, 5, and 6):
Flight equipment 5,768,506 4,709,059
Ground property and equipment 742,230 720,604
Deposits on flight equipment purchase contracts 338,229 309,356
6,848,965 5,739,019
Less allowance for depreciation 1,840,799 1,601,409
5,008,166 4,137,610
Other assets 12,942 4,231
$5,652,113 $4,715,996
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable $ 156,755 $ 157,415
Accrued liabilities (Note 4) 535,024 477,448
Air traffic liability 256,942 200,078
Current maturities of long-term debt (Note 5) 7,873 11,996
Other current liabilities 3,872 3,716
Total current liabilities 960,466 850,653
Long-term debt less current maturities (Note 5) 871,717 623,309
Deferred income taxes (Note 11) 692,342 549,207
Deferred gains from sale and leaseback of aircraft 222,700 238,412
Other deferred liabilities 69,100 56,497
Commitments and contingencies (Notes 3, 6, and 11)
Stockholders’ equity (Notes 8 and 9):
Common stock, $1.00 par value: 1,300,000 shares authorized;
505,005 and 335,904 shares issued in 1999 and 1998,
respectively 505,005 335,904
Capital in excess of par value 35,436 89,820
Retained earnings 2,385,854 2,044,975
Treasury stock, at cost: 5,579 and 5,402 shares in 1999 and 1998,
respectively
(90,507) (72,781)
Total stockholders’ equity 2,835,788 2,397,918
$5,652,113 $4,715,996
See accompanying notes.
F8