EX-12 9 d00530exv12.txt STATEMENT RE: COMPUTATION OF RATIOS OF EARNINGS EXHIBIT 12 SOUTHWEST AIRLINES CO. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (IN MILLIONS, EXCEPT RATIOS)
Nine Months Ended September 30, Year Ended December 31, ---------------------- ----------------------------------------------------------------- 2002 2001 2001 2000 1999 1998 1997 --------- --------- --------- --------- --------- --------- --------- Earnings Income before income taxes and cumulative effect of accounting changes $ 328.7 $ 729.8 $ 827.7 $ 1,017.4 $ 773.6 $ 705.1 $ 517.0 Add: Fixed charges 187.4 149.0 205.0 199.2 185.3 190.0 198.5 Less: Interest capitalized 12.8 17.9 20.6 27.6 31.2 25.6 19.8 --------- --------- --------- --------- --------- --------- --------- Total $ 503.3 $ 860.9 $ 1,012.1 $ 1,189.0 $ 927.7 $ 869.5 $ 695.7 --------- --------- --------- --------- --------- --------- --------- Fixed charges Interest expense $ 66.8 $ 29.8 $ 49.2 $ 42.3 $ 22.9 $ 30.7 $ 43.7 Add: Interest capitalized 12.8 17.9 20.6 27.6 31.2 25.6 19.8 --------- --------- --------- --------- --------- --------- --------- Gross interest expense 79.6 47.7 69.8 69.9 54.1 56.3 63.5 Add: Interest factor of operating lease expense 107.8 101.3 135.2 129.3 131.2 133.7 135.0 --------- --------- --------- --------- --------- --------- --------- Total $ 187.4 $ 149.0 $ 205.0 $ 199.2 $ 185.3 $ 190.0 $ 198.5 --------- --------- --------- --------- --------- --------- --------- Ratio of earnings to fixed charges 2.69 5.78 4.94 5.97 5.01 4.58 3.50 --------- --------- --------- --------- --------- --------- ---------