Southwest Airlines 2015 Annual Report Download - page 124
Download and view the complete annual report
Please find page 124 of the 2015 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
 |
 |
The Company had no transfers of assets or liabilities between any of the above levels during the years
ended December 31, 2015 or 2014. The Company did not have any assets or liabilities measured at fair
value on a nonrecurring basis as of December 31, 2015 or 2014. The following tables present the
Company’s activity for items measured at fair value on a recurring basis using significant unobservable
inputs (Level 3) for 2015 and 2014:
Fair value measurements using significant
unobservable inputs (Level 3)
(in millions)
Fuel
derivatives
Other
securities Total
Balance at December 31, 2014 $ (1,091) $ 32 $ (1,059)
Total losses (realized or unrealized)
Included in earnings (646) (1) (647)
Included in other comprehensive income (858) — (858)
Purchases 750 (a) — 750
Sales (196) (a) (4) (200)
Settlements 365 — 365
Balance at December 31, 2015 $ (1,676) $ 27 $ (1,649)
The amount of total losses for the period included in
earnings attributable to the change in unrealized gains or
losses relating to assets still held at December 31, 2015 $ (428) $ — $ (428)
(a) The purchase and sale of fuel derivatives are recorded gross based on the structure of the derivative instrument
and whether a contract with multiple derivatives is purchased as a single instrument or separate instruments.
Fair value measurements using significant
unobservable inputs (Level 3)
(in millions)
Fuel
derivatives
Other
securities Total
Balance at December 31, 2013 $ 172 $ 44 $ 216
Total gains or (losses) (realized or unrealized)
Included in earnings (439) — (439)
Included in other comprehensive income (1,091) 3 (1,088)
Purchases 403 (a) — 403
Sales (155) (a) (15) (170)
Settlements 19 — 19
Balance at December 31, 2014 $ (1,091) $ 32 $ (1,059)
The amount of total losses for the period included in
earnings attributable to the change in unrealized gains or
losses relating to assets still held at December 31, 2014 $ (450) $ — $ (450)
(a) The purchase and sale of fuel derivatives are recorded gross based on the structure of the derivative instrument
and whether a contract with multiple derivatives is purchased as a single instrument or separate instruments.
116