Southwest Airlines 2005 Annual Report Download - page 71

QUARTERLY FINANCIAL DATA
(Unaudited)
Three Months Ended
March 31 June 30 Sept. 30 Dec. 31
(In millions except per share amounts)
2005
Operating revenues ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ $1,663 $1,944 $1,989 $1,987
Operating income ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 106 277 273 163
Income before income taxes ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 114 256 368 136
Net incomeÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 76 159 227 86
Net income per share, basic ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ .10 .20 .29 .11
Net income per share, diluted ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ .09 .20 .28 .10
March 31 June 30 Sept. 30 Dec. 31
2004
Operating revenues ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ $1,484 $1,716 $1,674 $1,655
Operating income ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 46 197 191 120
Income before income taxes ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 41 179 181 89
Net incomeÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 26 113 119 56
Net income per share, basic ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ .03 .14 .15 .07
Net income per share, diluted ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ .03 .14 .15 .07
Item 9. Changes In and Disagreements With to the New York Stock Exchange (""NYSE'') that he
Accountants on Accounting and Financial was not aware of any violation by the Company of the
Disclosure NYSE's corporate governance listing standards.
None. Management's Report on Internal Control over Fi-
nancial Reporting. Management of the Company is
responsible for establishing and maintaining effective
Item 9A. Controls and Procedures
internal control over financial reporting as defined in
Disclosure Controls and Procedures. The Com- Rules 13a-15(f) under the Securities Exchange Act of
pany maintains controls and procedures designed to 1934. The Company's internal control over financial
ensure that it is able to collect the information it is reporting is designed to provide reasonable assurance to
required to disclose in the reports it files with the SEC, the Company's management and board of directors
and to process, summarize and disclose this information regarding the preparation and fair presentation of pub-
within the time periods specified in the rules of the lished financial statements.
SEC. Based on an evaluation of the Company's disclo-
Because of its inherent limitations, internal control
sure controls and procedures as of the end of the period
over financial reporting may not prevent or detect
covered by this report conducted by the Company's
misstatements. Therefore, even those systems deter-
management, with the participation of the Chief Execu-
mined to be effective can provide only reasonable assur-
tive and Chief Financial Officers, the Chief Executive
ance with respect to financial statement preparation and
and Chief Financial Officers believe that these controls
presentation.
and procedures are effective to ensure that the Company
is able to collect, process and disclose the information it Management assessed the effectiveness of the
is required to disclose in the reports it files with the SEC Company's internal control over financial reporting as
within the required time periods. of December 31, 2005. In making this assessment,
The certifications of the Company's Chief Execu- management used the criteria set forth by the Commit-
tive Officer and Chief Financial Officer required under tee of Sponsoring Organizations of the Treadway Com-
Section 302 of the Sarbanes-Oxley Act have been filed mission (COSO) in Internal Control Ì Integrated
as Exhibits 31.1 and 31.2 to this report. Additionally, in Framework. Based on this assessment, management
2005 the Company's Chief Executive Officer certified believes that, as of December 31, 2005, the Company's
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