Southwest Historical Income Statement

LUV Stock

USD 31.78 0.52 1.66%

Historical analysis of Southwest Airlines income statement accounts such as Gross Profit of 3.5 B can show how well Southwest Airlines performed in making a profits. Evaluating Southwest Airlines income statement over time to spot trends is a great complementary tool to traditional technical analysis and can indicate the direction of Southwest Airlines's future profits or losses.

Cash Flow Balance Sheet Income Statement

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Financial Statement Analysis is much more than just reviewing and examining Southwest Airlines latest accounting reports to predict its past. Macroaxis encourages investors to analyze financial statements over time for various trends across multiple indicators and accounts to determine whether Southwest Airlines is a good buy for the upcoming year.

Net Income Gross Profit

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Southwest Airlines. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in employment.

For more information on how to buy Southwest Stock please use our How to Invest in Southwest Airlines guide.

About Southwest Income Statement Analysis

Southwest Airlines Income Statement consists of revenues and expenses along with the resulting net income or loss. It represents the profit for the accounting period attributable to Southwest Airlines shareholders. The income statement also shows Southwest investors and management if the firm made money during the period reported. The result of an income statement is the net income that is calculated after subtracting the expenses from revenue. It is essential to investors both as an absolute measure as well as earnings per share (i.e., EPS).

Southwest Airlines Income Statement Chart

At this time, Southwest Airlines' Net Income is fairly stable compared to the past year. Income Tax Expense is likely to climb to about 254.6 M in 2024, whereas Operating Income is likely to drop slightly above 212.8 M in 2024.

Interest Expense Total Revenue Other Operating Expenses Cost Of Revenue Total Operating Expenses Income Before Tax

Interest Expense

The cost incurred by an entity for borrowed funds, including loans, bonds, or lines of credit.

Total Revenue

Total revenue comprises all receipts Southwest Airlines generated from the sale of its products or services. The total amount of income generated by the sale of goods or services related to the company's primary operations.

Other Operating Expenses

Other Operating Expenses is the expense which generally does not depend on sales or production quantities of Southwest Airlines. It is also known as Southwest Airlines overhead expenses. Typically these expenses include marketing, rent and utilities, office, leases, and other overhead cost. Expenses incurred from non-core business activities, including administrative and general expenses, but excluding costs directly related to production.

Cost Of Revenue

Cost of Revenue is found on Southwest Airlines income statement and represents the costs associated with goods and services Southwest Airlines provides. Indirect cost, such as salaries, is not included. In other words, cost of revenue is the total cost incurred to obtain a sale. It is more than the traditional cost of goods sold, since it includes specific selling and marketing activities.

Total Operating Expenses

The total costs associated with the day-to-day operations of a business, excluding the cost of goods sold but including selling, general, and administrative expenses.

Income Before Tax

Income Before Tax which can also be referred as pre-tax income is reported on Southwest Airlines income statement and is an important metric when analyzing Southwest Airlines profitability. Accounting techniques because taxes can be complex, and not perfectly consistent from one company to company, an analyst may use pre-tax income as a more stable measure of profitability.

Most accounts from Southwest Airlines' income statement are interrelated and interconnected. However, analyzing income statement accounts one by one will only give a small insight into Southwest Airlines current financial condition. On the other hand, looking into the entire matrix of income statement accounts, and analyzing their relationships over time can provide a more complete picture of the company financial strength now and in the future. Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Southwest Airlines. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in employment.

For more information on how to buy Southwest Stock please use our How to Invest in Southwest Airlines guide.At this time, Southwest Airlines' Net Income is fairly stable compared to the past year. Income Tax Expense is likely to climb to about 254.6 M in 2024, whereas Operating Income is likely to drop slightly above 212.8 M in 2024.

	2021	2022	2023	2024 (projected)
Total Operating Expenses	2.4B	3.7B	4.0B	4.0B
Cost Of Revenue	11.7B	19.1B	21.9B	23.0B

Total Operating Expenses Cost Of Revenue

Southwest Airlines income statement Correlations

	Depreciation And Amortization	Interest Expense	Total Revenue	Gross Profit	Other Operating Expenses	Operating Income	Ebit	Ebitda	Cost Of Revenue	Total Operating Expenses	Income Before Tax	Total Other Income Expense Net	Net Income	Income Tax Expense	Selling General Administrative	Selling And Marketing Expenses	Net Income From Continuing Ops	Non Operating Income Net Other	Non Recurring	Tax Provision	Interest Income	Net Interest Income	Reconciled Depreciation
Depreciation And Amortization		0.52	0.81	0.21	0.87	0.07	0.11	0.3	0.88	0.34	0.11	0.03	0.14	0.02	-0.13	0.38	0.13	0.02	-0.75	-0.59	-0.47	0.26	0.57
Interest Expense	0.52		0.16	-0.24	0.33	-0.49	-0.46	-0.34	0.29	0.3	-0.5	-0.27	-0.49	-0.39	-0.21	-0.12	-0.5	0.16	-0.34	-0.57	-0.08	-0.3	0.54
Total Revenue	0.81	0.16		0.6	0.95	0.42	0.5	0.64	0.94	0.49	0.49	0.19	0.49	0.39	0.23	0.7	0.48	-0.04	-0.49	-0.11	-0.18	0.55	0.49
Gross Profit	0.21	-0.24	0.6		0.39	0.81	0.84	0.84	0.28	0.57	0.81	-0.09	0.79	0.67	0.23	0.7	0.78	-0.32	-0.15	0.42	-0.07	0.21	-0.14
Other Operating Expenses	0.87	0.33	0.95	0.39		0.13	0.22	0.38	0.97	0.54	0.22	0.23	0.22	0.15	0.17	0.61	0.21	0.06	-0.48	-0.29	-0.17	0.58	0.65
Operating Income	0.07	-0.49	0.42	0.81	0.13		0.99	0.96	0.15	0.0	0.99	-0.07	0.96	0.82	0.23	0.49	0.96	-0.32	-0.18	0.52	-0.11	0.08	-0.35
Ebit	0.11	-0.46	0.5	0.84	0.22	0.99		0.98	0.24	0.06	1.0	0.04	0.97	0.83	0.23	0.55	0.97	-0.23	-0.17	0.53	-0.08	0.18	-0.26
Ebitda	0.3	-0.34	0.64	0.84	0.38	0.96	0.98		0.4	0.12	0.98	0.04	0.96	0.8	0.2	0.6	0.95	-0.22	-0.31	0.39	-0.17	0.22	-0.14
Cost Of Revenue	0.88	0.29	0.94	0.28	0.97	0.15	0.24	0.4		0.33	0.24	0.26	0.24	0.17	0.18	0.55	0.23	0.1	-0.52	-0.32	-0.2	0.56	0.64
Total Operating Expenses	0.34	0.3	0.49	0.57	0.54	0.0	0.06	0.12	0.33		0.02	-0.02	0.02	0.0	0.04	0.48	0.01	-0.09	-0.07	-0.04	0.04	0.32	0.33
Income Before Tax	0.11	-0.5	0.49	0.81	0.22	0.99	1.0	0.98	0.24	0.02		0.08	0.98	0.83	0.21	0.52	0.97	-0.22	-0.19	0.51	-0.09	0.22	-0.25
Total Other Income Expense Net	0.03	-0.27	0.19	-0.09	0.23	-0.07	0.04	0.04	0.26	-0.02	0.08		0.11	-0.01	-0.22	0.14	0.11	0.78	0.1	0.09	0.04	0.62	0.32
Net Income	0.14	-0.49	0.49	0.79	0.22	0.96	0.97	0.96	0.24	0.02	0.98	0.11		0.69	0.11	0.5	1.0	-0.18	-0.23	0.38	-0.18	0.21	-0.25
Income Tax Expense	0.02	-0.39	0.39	0.67	0.15	0.82	0.83	0.8	0.17	0.0	0.83	-0.01	0.69		0.41	0.44	0.69	-0.26	-0.05	0.74	0.17	0.18	-0.2
Selling General Administrative	-0.13	-0.21	0.23	0.23	0.17	0.23	0.23	0.2	0.18	0.04	0.21	-0.22	0.11	0.41		0.33	0.11	-0.36	0.43	0.54	0.62	0.15	-0.14
Selling And Marketing Expenses	0.38	-0.12	0.7	0.7	0.61	0.49	0.55	0.6	0.55	0.48	0.52	0.14	0.5	0.44	0.33		0.51	-0.1	-0.11	0.22	-0.04	0.43	0.25
Net Income From Continuing Ops	0.13	-0.5	0.48	0.78	0.21	0.96	0.97	0.95	0.23	0.01	0.97	0.11	1.0	0.69	0.11	0.51		-0.18	-0.22	0.38	-0.18	0.2	-0.26
Non Operating Income Net Other	0.02	0.16	-0.04	-0.32	0.06	-0.32	-0.23	-0.22	0.1	-0.09	-0.22	0.78	-0.18	-0.26	-0.36	-0.1	-0.18		0.17	-0.09	-0.09	0.08	0.22
Non Recurring	-0.75	-0.34	-0.49	-0.15	-0.48	-0.18	-0.17	-0.31	-0.52	-0.07	-0.19	0.1	-0.23	-0.05	0.43	-0.11	-0.22	0.17		0.58	0.61	-0.08	-0.38
Tax Provision	-0.59	-0.57	-0.11	0.42	-0.29	0.52	0.53	0.39	-0.32	-0.04	0.51	0.09	0.38	0.74	0.54	0.22	0.38	-0.09	0.58		0.56	0.08	-0.44
Interest Income	-0.47	-0.08	-0.18	-0.07	-0.17	-0.11	-0.08	-0.17	-0.2	0.04	-0.09	0.04	-0.18	0.17	0.62	-0.04	-0.18	-0.09	0.61	0.56		0.24	0.1
Net Interest Income	0.26	-0.3	0.55	0.21	0.58	0.08	0.18	0.22	0.56	0.32	0.22	0.62	0.21	0.18	0.15	0.43	0.2	0.08	-0.08	0.08	0.24		0.58
Reconciled Depreciation	0.57	0.54	0.49	-0.14	0.65	-0.35	-0.26	-0.14	0.64	0.33	-0.25	0.32	-0.25	-0.2	-0.14	0.25	-0.26	0.22	-0.38	-0.44	0.1	0.58

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Southwest Airlines Account Relationship Matchups

Southwest Airlines income statement Accounts

	2019	2020	2021	2022	2023	2024 (projected)
Depreciation And Amortization	1.3B	1.3B	1.3B	1.4B	1.5B	1.6B
Interest Expense	82M	314M	431M	301M	236M	247.8M
Total Revenue	22.4B	9.0B	15.8B	23.8B	26.1B	27.4B
Gross Profit	6.0B	(1.9B)	4.1B	4.8B	4.2B	3.5B
Other Operating Expenses	19.5B	12.9B	14.1B	22.8B	25.9B	27.2B
Operating Income	3.0B	(3.8B)	1.7B	1.0B	224M	212.8M
Ebit	3.0B	(3.9B)	1.8B	1.2B	809M	849.5M
Ebitda	4.3B	(2.7B)	3.0B	2.6B	2.3B	2.4B
Cost Of Revenue	16.4B	10.9B	11.7B	19.1B	21.9B	23.0B
Total Operating Expenses	3.0B	1.9B	2.4B	3.7B	4.0B	4.0B
Income Before Tax	3.0B	(4.3B)	1.3B	728M	633M	846.8M
Total Other Income Expense Net	(8M)	(440M)	(396M)	(289M)	62M	65.1M
Net Income	2.3B	(3.1B)	977M	539M	465M	592.3M
Income Tax Expense	657M	(1.2B)	348M	189M	168M	254.6M
Selling General Administrative	2.8B	1.8B	2.2B	3.5B	3.7B	3.7B
Selling And Marketing Expenses	215M	212M	156M	185M	266M	182.9M
Net Income Applicable To Common Shares	2.3B	(3.1B)	977M	539M	619.9M	869.2M
Net Income From Continuing Ops	2.3B	(3.1B)	977M	539M	497M	472.2M
Non Operating Income Net Other	82M	(126M)	35M	12M	10.8M	11.3M
Tax Provision	657M	(1.2B)	348M	189M	137M	130.2M
Interest Income	90M	32M	418M	88M	541M	568.1M
Net Interest Income	8M	(282M)	(418M)	(84M)	303M	318.2M
Reconciled Depreciation	1.2B	1.3B	1.3B	1.4B	1.5B	1.4B

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Southwest Historical Income Statement

About Southwest Income Statement Analysis

Southwest Airlines Income Statement Chart

Interest Expense

Total Revenue

Other Operating Expenses

Cost Of Revenue

Total Operating Expenses

Income Before Tax

Southwest Airlines income statement Correlations

Southwest Airlines Account Relationship Matchups

High Positive Relationship

High Negative Relationship

Southwest Airlines income statement Accounts

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Income Before Tax	+ 1.0	Ebit
Net Income From Continuing Ops	+ 1.0	Net Income
Ebit	+ 0.99	Operating Income
Income Before Tax	+ 0.99	Operating Income
Ebitda	+ 0.98	Ebit
Income Before Tax	+ 0.98	Ebitda

Non Recurring	- 0.75	Depreciation And Amortization
Tax Provision	- 0.59	Depreciation And Amortization
Tax Provision	- 0.57	Interest Expense
Non Recurring	- 0.52	Cost Of Revenue
Net Income From Continuing Ops	- 0.5	Interest Expense
Income Before Tax	- 0.5	Interest Expense