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Southwest Airlines Co. (LUV)
NYSE: LUV · Real-Time Price · USD
44.26
-0.61 (-1.36%)
At close: Aug 14, 2026, 4:00 PM EDT
44.30
+0.04 (0.09%)
Pre-market: Aug 17, 2026, 6:30 AM EDT

Southwest Airlines Co. Cash Flow Statement

Millions USD. Fiscal year is Jan - Dec.

Operating Activities

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Jun '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Net Income
837441465465539977
Depreciation & Amortization
1,2471,2421,3861,2761,1191,059
Other Amortization
318318271246232213
Loss (Gain) From Sale of Assets
--3-92---
Asset Writedown & Restructuring Costs
-8--3512
Loss (Gain) From Sale of Investments
----4-
Other Operating Activities
17824918-72378161
Change in Accounts Receivable
-1515119-89422-701
Change in Accounts Payable
382218-1,3631,38693638
Change in Unearned Revenue
-112-1,078-3729525591
Change in Other Net Operating Assets
-171396-205-77-400-28
Operating Cash Flow
2,5281,8424623,1643,7902,322
Operating Cash Flow Growth
36.58%298.70%-85.40%-16.52%63.22%-

Investing Activities

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Jun '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Capital Expenditures
-2,934-2,673-2,054-3,520-3,946-511
Investment in Securities
3671,223981621200-753
Other Investing Activities
-621812-33--
Investing Cash Flow
-2,174-1,429-261-2,932-3,746-1,264

Financing Activities

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Jun '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Long-Term Debt Issued
-1,500---1,136
Total Debt Issued
3,0001,500---1,136
Long-Term Debt Repaid
--3,275-1,337-85-3,085-905
Total Debt Repaid
-1,114-3,275-1,337-85-3,085-905
Net Debt Issued (Repaid)
1,886-1,775-1,337-85-3,085231
Issuance of Common Stock
585960484551
Repurchase of Common Stock
-1,550-2,550-250---
Common Dividends Paid
-370-399-430-428--
Other Financing Activities
-62-26-2329877
Financing Cash Flow
-38-4,691-1,980-436-3,032359

Net Cash Flow

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Jun '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Net Cash Flow
316-4,278-1,779-204-2,9881,417

Free Cash Flow

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Jun '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Free Cash Flow
-406-831-1,592-356-1561,811
Free Cash Flow Growth
------
Free Cash Flow Margin
-1.35%-2.96%-5.79%-1.36%-0.66%11.47%
Free Cash Flow Per Share
-0.77-1.49-2.48-0.56-0.242.97
Levered Free Cash Flow
-834.75-683.88-2,07722.25-412.88643
Unlevered Free Cash Flow
-744.13-613.25-1,943169.75-224.75912.38

Additional Metrics

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Jun '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Cash Interest Paid
137108220228305336
Cash Income Tax Paid
--1-21-8720445
Change in Working Capital
-52-413-1,5861,2491,483-100
SEC Filings: 10-K · 10-Q