Southwest Airlines Co. (LUV) Financial Statements

Income statement

Metric	TTM	2025	2024	2023	2022
Revenue
Total Revenue	30.1B	28.1B	27.5B	26.1B	23.8B
Cost of Revenue	11.7B	23.2B	23.0B	21.9B	19.1B
Gross Profit	18.4B	4.9B	4.5B	4.2B	4.8B
Operating Expenses
R&D Expense	—	—	—	—	—
SG&A Expense	2.2B	4.5B	346.0M	266.0M	224.0M
General & Admin Expense	—	—	—	—	—
Selling & Marketing Expense	—	—	346.0M	266.0M	224.0M
Other Expenses	15.1B	—	3.8B	3.7B	3.5B
Total Operating Expenses	17.3B	4.5B	4.1B	4.0B	3.7B
Cost and Expenses	29.0B	27.6B	27.2B	25.9B	22.8B
Operating Income (EBIT)	1.0B	428.0M	321.0M	224.0M	1.0B
Non-Operating
Interest Income	10.0M	205.0M	497.0M	583.0M	217.0M
Interest Expense	171.0M	113.0M	214.0M	236.0M	301.0M
Net Interest Income	(161.0M)	92.0M	283.0M	347.0M	(84.0M)
Other Non-Op Income/Expense	26.0M	135.0M	277.0M	409.0M	(289.0M)
Non-Operating Income (excl Interest)	(102.0M)	(248.0M)	(491.0M)	(645.0M)	(12.0M)
EBT (Pre-Tax Income)	1.1B	563.0M	598.0M	633.0M	728.0M
Income Tax Expense	230.0M	122.0M	133.0M	168.0M	189.0M
Bottom Line
Net Income	837.0M	441.0M	465.0M	465.0M	539.0M
Earnings from Cont. Ops	837.0M	441.0M	465.0M	465.0M	539.0M
Earnings from Discont. Ops	—	—	—	—	—
Bottom Line Net Income	837.0M	441.0M	485.0M	484.0M	561.0M
Per Share
Basic EPS	$1.66	$0.82	$0.81	$0.81	$0.91
Diluted EPS	$1.63	$0.79	$0.75	$0.76	$0.87
Revenue Per Share	$60.88	$51.97	$45.96	$43.85	$40.16
Shares
Basic Shares Outstanding	494.0M	540.0M	598.0M	595.0M	593.0M
Diluted Shares Outstanding	498.0M	558.0M	643.0M	640.0M	642.0M
Profitability Metrics
EBITDA	2.7B	2.2B	2.5B	2.4B	2.4B
D&A	1.6B	1.6B	1.7B	1.5B	1.4B
EBIT	1.1B	676.0M	812.0M	869.0M	1.0B

As reported, in the filing currency · TTM sums the four latest quarters; MRQ is the latest quarter · Negatives in parentheses; a dash is a line the filing does not carry · Data as of Jun 1, 2026