Southwest Airlines 2014 Annual Report Download - page 92
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Item 8. Financial Statements and Supplementary Data
Southwest Airlines Co.
Consolidated Balance Sheet
(in millions, except share data)
December 31, 2014 December 31, 2013
ASSETS
Current assets:
Cash and cash equivalents $ 1,282 $ 1,355
Short-term investments 1,706 1,797
Accounts and other receivables 365 419
Inventories of parts and supplies, at cost 342 467
Deferred income taxes 477 168
Prepaid expenses and other current assets 232 250
Total current assets 4,404 4,456
Property and equipment, at cost:
Flight equipment 18,473 16,937
Ground property and equipment 2,853 2,666
Deposits on flight equipment purchase contracts 566 764
Assets constructed for others 621 453
22,513 20,820
Less allowance for depreciation and amortization 8,221 7,431
14,292 13,389
Goodwill 970 970
Other assets 534 530
$ 20,200 $ 19,345
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable $ 1,203 $ 1,247
Accrued liabilities 1,565 1,229
Air traffic liability 2,897 2,571
Current maturities of long-term debt 258 629
Total current liabilities 5,923 5,676
Long-term debt less current maturities 2,434 2,191
Deferred income taxes 3,259 2,934
Construction obligation 554 437
Other noncurrent liabilities 1,255 771
Stockholders’ equity:
Common stock, $1.00 par value: 2,000,000,000 shares authorized;
807,611,634 shares issued in 2014 and 2013 808 808
Capital in excess of par value 1,315 1,231
Retained earnings 7,416 6,431
Accumulated other comprehensive loss (738) (3)
Treasury stock, at cost: 132,017,550 and 107,136,946 shares in 2014
and 2013 respectively (2,026) (1,131)
Total stockholders’ equity 6,775 7,336
$ 20,200 $ 19,345
See accompanying notes.
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