8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 14, 2017

SOUTHWEST AIRLINES CO.

(Exact name of registrant as specified in its charter)

Texas	1-7259	74-1563240
(State or other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

P.O. Box 36611, Dallas, Texas	75235-1611
(Address of Principal Executive Offices)	(Zip Code)

Registrant’s telephone number, including area code: (214) 792-4000

Not Applicable

(Former name or former address if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

☐ Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01 Other Events.

Southwest Airlines Co.’s Computation of the Ratio of Earnings to Fixed Charges for the nine-month periods ended September 30, 2017 and 2016 and the five fiscal years in the five-year period ended December 31, 2016 is attached as Exhibit 12.1 hereto and is incorporated by reference into this Current Report on Form 8-K.

Item 9.01 Financial Statements and Exhibits.

(d)    Exhibits

Exhibit No.	Description
12.1	Computation of the Ratio of Earnings to Fixed Charges.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	SOUTHWEST AIRLINES CO.
Date: November 14, 2017	By:	/s/ Tammy Romo
	Name:	Tammy Romo
	Title:	Executive Vice President and Chief Financial Officer (Principal Financial and Accounting Officer)

EX-12.1

Exhibit 12.1

	Nine Months Ended September 30,						Year Ended December 31,
	2017			2016			2016			2015			2014			2013			2012
	(in millions, except ratios)
Earnings:
Income before income taxes and cumulative effect of accounting changes	$	2,513		$	2,738		$	3,547		$	3,479		$	1,816		$	1,210		$	685
Add: Fixed charges		298			310			407			401			410			406			444
Less: Interest capitalized		(38	)		(34	)		(47	)		(31	)		(23	)		(24	)		(21	)
Total	$	2,773		$	3,014		$	3,907		$	3,849		$	2,203		$	1,592		$	1,109
Fixed charges:
Interest expense, net	$	46		$	59		$	75		$	90		$	107		$	107		$	126
Add: Interest capitalized		38			34			47			31			23			24			21
Gross interest expense	$	84		$	93		$	122		$	121		$	130		$	131		$	147
Add: Interest factor of operating lease expense		214			217			284			280			280			275			298
Total	$	298		$	310		$	406		$	401		$	410		$	406		$	444
Ratio of earnings to fixed charges		9.31			9.72			9.62			9.60			5.37			3.92			2.49