Southwest Airlines 2002 Annual Report Download - page 48

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SOUTHWEST AIRLINES CO. 2002 10-K | 29
Item 8. Financial Statements and Supplementary Data
SOUTHWEST AIRLINES CO.
CONSOLIDATED BALANCE SHEET
(In thousands, except per share amounts) DECEMBER 31,
2002 2001
ASSETS
Current assets:
Cash and cash equivalents $ 1,815,352 $ 2,279,861
Accounts and other receivables 174,393 71,283
Inventories of parts and supplies, at cost 86,016 70,561
Deferred income taxes - 46,400
Fuel hedge income taxes 112,847 -
Prepaid expenses and other current assets 43,352 52,114
Total current assets 2,231,960 2,520,219
Property and equipment, at cost:
Flight equipment 8,024,719 7,534,119
Ground property and equipment 1,041,844 899,421
Deposits on flight equipment purchase contracts 389,094 468,154
9,455,657 8,901,694
Less allowance for depreciation 2,810,193 2,456,207
6,645,464 6,445,487
Other assets 76,326 31,435
$ 8,953,750 $ 8,997,141
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable $ 362,027 $ 504,831
Accrued liabilities 529,109 547,540
Air traffic liability 412,238 450,407
Aircraft purchase obligations - 221,840
Short-term borrowings - 475,000
Current maturities of long-term debt 130,454 39,567
Total current liabilities 1,433,828 2,239,185
Long-term debt less current maturities 1,552,781 1,327,158
Deferred income taxes 1,227,475 1,058,143
Deferred gains from sale and leaseback of aircraft 183,797 192,342
Other deferred liabilities 134,252 166,260
Commitments and contingencies
Stockholders’ equity:
Common stock, $1.00 par value: 2,000,000 shares authorized;
776,663 and 766,774 shares issued in 2002 and 2001,
respectively 776,663 766,774
Capital in excess of par value 135,848 50,409
Retained earnings 3,455,448 3,228,408
Accumulated other comprehensive income (loss) 53,658 (31,538)
Total stockholders’ equity 4,421,617 4,014,053
$ 8,953,750 $ 8,997,141
See accompanying notes.