Southwest Airlines 2014 Annual Report Download - page 124
Download and view the complete annual report
Please find page 124 of the 2014 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.-
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
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114 -
115 -
116 -
117 -
118 -
119 -
120 -
121 -
122 -
123 -
124 -
125 -
126 -
127 -
128 -
129 -
130 -
131 -
132 -
133 -
134 -
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
 |
 |
All cash flows associated with purchasing and selling fuel derivatives are classified as Other
operating cash flows in the Consolidated Statement of Cash Flows. The following table presents the
location of all assets and liabilities associated with the Company’s hedging instruments within the
Consolidated Balance Sheet:
Asset derivatives Liability derivatives
(in millions)
Balance Sheet
location
Fair value
at
12/31/2014
Fair value
at
12/31/2013
Fair value
at
12/31/2014
Fair value
at
12/31/2013
Derivatives designated as
hedges*
Fuel derivative contracts
(gross)
Prepaid expenses and
other current assets $ — $ 74 $ — $ —
Fuel derivative contracts
(gross) Other assets — 209 — 1
Fuel derivative contracts
(gross)
Other noncurrent
liabilities — — 643 —
Interest rate derivative
contracts Other assets 13 20 — —
Interest rate derivative
contracts
Other noncurrent
liabilities — — 61 77
Total derivatives designated
as hedges $ 13 $ 303 $ 704 $ 78
Derivatives not designated
as hedges*
Fuel derivative contracts
(gross)
Prepaid expenses and
other current assets $ — $ 175 $ — $ 182
Fuel derivative contracts
(gross) Other assets — 16 — 99
Fuel derivative contracts
(gross) Accrued liabilities 1,190 9 1,432 21
Fuel derivative contracts
(gross)
Other noncurrent
liabilities 157 — 273 —
Total derivatives not
designated as hedges $ 1,347 $ 200 $ 1,705 $ 302
Total derivatives $ 1,360 $ 503 $ 2,409 $ 380
* Represents the position of each trade before consideration of offsetting positions with each counterparty and
does not include the impact of cash collateral deposits provided to or received from counterparties. See
discussion of credit risk and collateral following in this Note.
116