Southwest Airlines (LUV) FY2012 results: revenue $17.1 billion, up 9.1% on the year
Southwest Airlines Co. (LUV) reported revenue of $17.1 billion for fiscal 2012, the year ended 31 December 2012, up 9.1% on the year before. Net income was $421 million, up 136.5%, and diluted earnings per share $0.56. The figures are the company's own, from the 10-K it filed with the SEC on 7 February 2013.
Revenue
$17.1 billion
+9.1% on the year
FY2007FY2012
Operating margin
3.6%
4.4% a year earlier
FY2007FY2012
Net income
$421 million
+136.5% on the year
FY2007FY2012
Diluted EPS
$0.56
+143.5% on the year
FY2007FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
17,088
15,658
12,104
+9.1%
Operating income
623
693
988
-10.1%
Operating margin
3.6%
4.4%
8.2%
Interest expense
147
194
167
-24.2%
Pre-tax income
685
323
745
+112.1%
Income tax
264
145
286
+82.1%
Effective tax rate
38.5%
44.9%
38.4%
Net income
421
178
459
+136.5%
Net margin
2.5%
1.1%
3.8%
Diluted EPS
$0.56
$0.23
$0.61
+143.5%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
2,064
1,356
1,561
+52.2%
Capital expenditure
1,348
968
493
+39.3%
Free cash flow
716
388
1,068
+84.5%
Free cash flow margin
4.2%
2.5%
8.8%
Cash from investing
-833
-1,022
-1,265
Cash from financing
-947
-766
-149
Depreciation and amortisation
844
715
628
+18.0%
Share-based compensation
16.0
13.0
12.0
+23.1%
Buybacks
400
225
0.0
+77.8%
Dividends paid
22.0
14.0
13.0
+57.1%
Dividend per share
$0.03
$0.02
$0.02
+91.7%
Diluted shares, weighted
757m
775m
747m
-2.3%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
6,992
6,877
6,237
+1.7%
Debt
3,154
3,751
3,380
-15.9%
Other liabilities
8,450
7,440
5,846
+13.6%
Total liabilities and equity
18,596
18,068
15,463
+2.9%
Fixed assets
12,766
12,127
10,578
+5.3%
Goodwill
970
970
0.0
0.0%
Intangible assets
138
155
60.0
-11.0%
Investments
1,898
2,412
2,374
-21.3%
Cash and equivalents
1,113
829
1,261
+34.3%
Receivables
n/a
299
195
Other assets
1,711
1,276
995
+34.1%
Total assets
18,596
18,068
15,463
+2.9%
10-K for the year ended 31 December 2012, filed 7 February 2013: the filing.