Southwest Airlines 2013 Annual Report Download - page 84
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Item 8. Financial Statements and Supplementary Data
SOUTHWEST AIRLINES CO.
CONSOLIDATED BALANCE SHEET
(in millions, except share data)
December 31,
2013
December 31,
2012
ASSETS
Current assets:
Cash and cash equivalents .......................................... $ 1,355 $ 1,113
Short-term investments ............................................ 1,797 1,857
Accounts and other receivables ...................................... 419 332
Inventories of parts and supplies, at cost ............................... 467 469
Deferred income taxes ............................................. 168 246
Prepaid expenses and other current assets .............................. 250 210
Total current assets .............................................. 4,456 4,227
Property and equipment, at cost:
Flight equipment ................................................. 16,937 16,367
Ground property and equipment ..................................... 2,666 2,383
Deposits on flight equipment purchase contracts ........................ 764 416
Assets constructed for others ........................................ 453 331
20,820 19,497
Less allowance for depreciation and amortization ....................... 7,431 6,731
13,389 12,766
Goodwill ........................................................ 970 970
Other assets ...................................................... 530 633
$ 19,345 $ 18,596
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable ................................................ $ 1,247 $ 1,107
Accrued liabilities ................................................ 1,229 1,102
Air traffic liability ................................................ 2,571 2,170
Current maturities of long-term debt .................................. 629 271
Total current liabilities ........................................... 5,676 4,650
Long-term debt less current maturities ................................. 2,191 2,883
Deferred income taxes .............................................. 2,934 2,884
Construction obligation ............................................. 437 331
Other noncurrent liabilities .......................................... 771 856
Stockholders’ equity:
Common stock, $1.00 par value: 2,000,000,000 shares authorized;
807,611,634 shares issued in 2013 and 2012 .......................... 808 808
Capital in excess of par value ....................................... 1,231 1,210
Retained earnings ................................................ 6,431 5,768
Accumulated other comprehensive income (loss) ....................... (3) (119)
Treasury stock, at cost: 107,136,946 and 77,292,145 shares in 2013 and 2012
respectively .................................................... (1,131) (675)
Total stockholders’ equity ......................................... 7,336 6,992
$ 19,345 $ 18,596
See accompanying notes.
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