Southwest Airlines 2011 Annual Report Download - page 80
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Item 8. Financial Statements and Supplementary Data
SOUTHWEST AIRLINES CO.
CONSOLIDATED BALANCE SHEET
(in millions, except share data)
DECEMBER 31,
2011 2010
ASSETS
Current assets:
Cash and cash equivalents ..................................................... $ 829 $ 1,261
Short-term investments ....................................................... 2,315 2,277
Accounts and other receivables ................................................. 299 195
Inventories of parts and supplies, at cost ......................................... 401 243
Deferred income taxes ........................................................ 263 214
Prepaid expenses and other current assets ........................................ 238 89
Total current assets .......................................................... 4,345 4,279
Property and equipment, at cost:
Flight equipment ............................................................ 15,542 13,991
Ground property and equipment ................................................ 2,423 2,122
Deposits on flight equipment purchase contracts ................................... 456 230
18,421 16,343
Less allowance for depreciation and amortization .................................. 6,294 5,765
12,127 10,578
Goodwill .................................................................. 970 —
Other assets ................................................................ 626 606
$18,068 $15,463
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable ........................................................... $ 1,057 $ 739
Accrued liabilities ........................................................... 996 863
Air traffic liability ........................................................... 1,836 1,198
Current maturities of long-term debt ............................................. 644 505
Total current liabilities ....................................................... 4,533 3,305
Long-term debt less current maturities ........................................... 3,107 2,875
Deferred income taxes ........................................................ 2,566 2,493
Deferred gains from sale and leaseback of aircraft .................................. 75 88
Other noncurrent liabilities .................................................... 910 465
Stockholders’ equity:
Common stock, $1.00 par value: 2,000,000,000 shares authorized; 807,611,634 shares
issued in 2011 and 2010 .................................................... 808 808
Capital in excess of par value .................................................. 1,222 1,183
Retained earnings ........................................................... 5,395 5,399
Accumulated other comprehensive loss .......................................... (224) (262)
Treasury stock, at cost: 35,050,991 and 60,177,362 shares in 2011 and 2010 respectively . . . (324) (891)
Total stockholders’ equity ..................................................... 6,877 6,237
$18,068 $15,463
See accompanying notes.
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