Southwest Airlines Co. Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	817	441	465	465	539	977
Depreciation & Amortization	1,563	1,560	1,657	1,522	1,351	1,272
Other Adjustments	231	119	40	159	458	4
Change in Receivables	-99	51	19	-89	422	-701
Changes in Accounts Payable	264	218	-1,363	1,386	936	38
Changes in Unearned Revenue	-653	-1,078	-37	29	525	591
Changes in Other Operating Activities	287	531	-319	-308	-441	141
Operating Cash Flow	2,401	1,842	462	3,164	3,790	2,322
Operating Cash Flow Growth	68.37%	298.70%	-85.40%	-16.52%	63.22%	-
Capital Expenditures	-2,802	-2,673	-2,054	-3,520	-3,924	-505
Sale of Property, Plant & Equipment	193	24	871	-	-	-
Purchases of Investments	-419	-470	-5,014	-6,970	-5,592	-5,824
Proceeds from Sale of Investments	538	1,693	5,995	7,591	5,792	5,071
Other Investing Activities	-7	-3	-59	-33	-22	-6
Investing Cash Flow	-2,497	-1,429	-261	-2,932	-3,746	-1,264
Long-Term Debt Issued	-	1,500	-	-	-	1,136
Long-Term Debt Repaid	-3,276	-3,275	-1,337	-85	-3,085	-905
Net Long-Term Debt Issued (Repaid)	-3,276	-1,775	-1,337	-85	-3,085	231
Issuance of Common Stock	58	59	60	48	45	51
Repurchase of Common Stock	-3,050	-2,550	-250	-	-	-
Net Common Stock Issued (Repurchased)	-2,992	-2,491	-190	48	45	51
Common Dividends Paid	-385	-399	-430	-428	-	-
Other Financing Activities	-57	-26	0	6	8	77
Financing Cash Flow	-4,710	-4,691	-1,980	-436	-3,032	359
Net Cash Flow	-4,806	-4,278	-1,779	-204	-2,988	1,417
Free Cash Flow	-401	-831	-1,592	-356	-134	1,817
FCF Margin	-1.39%	-2.96%	-5.79%	-1.36%	-0.56%	11.51%
Free Cash Flow Per Share	-0.77	-1.49	-2.48	-0.56	-0.21	2.98
Levered Free Cash Flow	-3,800	-2,776	-2,988	-511	-4,099	2,745
Unlevered Free Cash Flow	-571.09	-1,107	-1,866	-726.45	-800.03	2,806

SEC Filings: 10-K · 10-Q