Southwest Airlines 2002 Annual Report Download - page 51

Download and view the complete annual report

Please find page 51 of the 2002 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 85

  • 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
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85

32 | SOUTHWEST AIRLINES CO. 2002 10-K
SOUTHWEST AIRLINES CO.
CONSOLIDATED STATEMENTS OF CASH FLOWS
YEARS ENDED DECEMBER 31,
(In thousands) 2002 2001 2000
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income $ 240,969 $ 511,147 $ 603,093
Adjustments to reconcile net income to net cash provided by
ope rating activities:
Depreciation 356,304 317,831 281,276
Deferred income taxes 169,629 207,922 153,447
Amortization of deferred gains on sale and leaseback of
aircraft (15,181) (15,180) (15,178)
Amortization of scheduled airframe inspections and repairs 46,311 43,121 36,328
Income tax benefit from Employee stock option exercises 38,571 53,691 61,677
Changes in certain assets and liabilities:
Accounts and other receivables (103,110) 66,787 (63,032)
Other current assets (10,159) (9,027) (24,657)
Accounts payable and accrued liabilities (148,850) 202,506 129,438
Air traffic liability (38,169) 73,346 120,119
Other (16,106) 32,464 15,775
Net cash provided by operating activities 520,209 1,484,608 1,298,286
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment (603,060) (997,843) (1,134,644)
Net cash used in investing activities (603,060) (997,843) (1,134,644)
CASH FLOWS FROM FINANCING ACTIVITIES:
Issuance of long-term debt 385,000 614,250 -
Proceeds from revolving credit facility - 475,000 -
Proceeds from trust arrangement 119,142 266,053 -
Proceeds from Employee stock plans 56,757 43,541 70,424
Payments of long-term debt and capital lease obligations (64,568) (110,600) (10,238)
Payments of trust arrangement (385,195) --
Payment of revolving credit facility (475,000) --
Payment of cash dividends (13,872) 13,440 (10,978)
Repurchases of common stock -- (108,674)
Other, net (3,922) (4,703) -
Net cash provided by (used in) financing activities (381,658) 1,270,101 (59,466)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (464,509) 1,756,866 104,176
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 2,279,861 522,995 418,819
CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 1,815,352 $ 2,279,861 $ 522,995
CASH PAYMENTS FOR:
Interest, net o f amount capitalized $ 79,998 $ 47,682 $ 36,946
Income taxes $ 2,693 $ 65,905 $ 150,000
See accompanying notes.