Southwest Airlines 2010 Annual Report Download - page 70
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Item 8. Financial Statements and Supplementary Data
SOUTHWEST AIRLINES CO.
CONSOLIDATED BALANCE SHEET
(In millions, except share data)
DECEMBER 31,
2010 2009
(As adjusted-Note 3)
ASSETS
Current assets:
Cash and cash equivalents ........................................... $ 1,261 $ 1,114
Short-term investments ............................................. 2,277 1,479
Accounts and other receivables ....................................... 195 169
Inventories of parts and supplies, at cost ................................ 243 221
Deferred income taxes .............................................. 214 291
Prepaid expenses and other current assets ............................... 89 84
Total current assets ................................................. 4,279 3,358
Property and equipment, at cost:
Flight equipment .................................................. 13,991 13,719
Ground property and equipment ...................................... 2,122 1,922
Deposits on flight equipment purchase contracts ......................... 230 247
16,343 15,888
Less allowance for depreciation and amortization ......................... 5,765 5,254
10,578 10,634
Other assets ...................................................... 606 277
$15,463 $14,269
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable .................................................. $ 739 $ 732
Accrued liabilities ................................................. 863 729
Air traffic liability ................................................. 1,198 1,044
Current maturities of long-term debt ................................... 505 190
Total current liabilities .............................................. 3,305 2,695
Long-term debt less current maturities ................................. 2,875 3,325
Deferred income taxes .............................................. 2,493 2,200
Deferred gains from sale and leaseback of aircraft ........................ 88 102
Other noncurrent liabilities .......................................... 465 493
Commitments and contingencies
Stockholders’ equity:
Common stock, $1.00 par value: 2,000,000,000 shares authorized; 807,611,634
shares issued in 2010 and 2009 ..................................... 808 808
Capital in excess of par value ......................................... 1,183 1,216
Retained earnings .................................................. 5,399 4,971
Accumulated other comprehensive loss ................................. (262) (578)
Treasury stock, at cost: 60,177,362 and 64,820,703 shares in 2010 and 2009,
respectively .................................................... (891) (963)
Total stockholders’ equity ........................................... 6,237 5,454
$15,463 $14,269
See accompanying notes.
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