Total Debt for Southwest Airlines (LUV)
According to Southwest Airlines's latest reported financial statements, the company's latest reported total debt is $6.40B USD. Total debt is the sum of short-term and long-term interest-bearing borrowings on the balance sheet (notes, bonds, term loans, lease liabilities). Useful for leverage and refinancing risk — combine with cash on hand for net debt, and see total liabilities for the broader obligations picture.
Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .
Currently viewingTotal DebtSwitch metric
Latest period
$6.40B
YoY change
-25.8%
5Y CAGR
-13.3%
Peak year (2021)
$12.28B
Latest annual
$5.98B
Total Debt history chart for Southwest Airlines (LUV) from 1985 to 2025
Total Debt history table for Southwest Airlines (LUV) from 1985 to 2025
| Fiscal year | Period ended | Reported | Total Debt | YoY |
|---|---|---|---|---|
| 2025 | $5.98B | -25.8% | ||
| 2024 | $8.06B | -12.4% | ||
| 2023 | $9.20B | -2.9% | ||
| 2022 | $9.47B | -22.9% | ||
| 2021 | $12.28B | +0.7% | ||
| 2020 | $12.20B | +205.3% | ||
| 2019 | $4.00B | +18.3% | ||
| 2018 | $3.38B | -7.9% | ||
| 2017 | $3.67B | +8.3% | ||
| 2016 | $3.39B | +6.6% | ||
| 2015 | $3.18B | +18.1% | ||
| 2014 | $2.69B | -4.5% | ||
| 2013 | $2.82B | -10.6% | ||
| 2012 | $3.15B | -15.9% | ||
| 2011 | $3.75B | +11.0% | ||
| 2010 | $3.38B | -3.8% | ||
| 2009 | $3.52B | -4.0% | ||
| 2008 | $3.66B | +75.1% | ||
| 2007 | $2.09B | +23.8% | ||
| 2006 | $1.69B | -15.3% | ||
| 2005 | $2.00B | +8.1% | ||
| 2004 | $1.85B | +20.0% | ||
| 2003 | $1.54B | -8.7% | ||
| 2002 | $1.68B | -8.6% | ||
| 2001 | $1.84B | +111.8% | ||
| 2000 | $869.75M | -1.2% | ||
| 1999 | $879.87M | +38.5% | ||
| 1998 | $635.30M | -15.2% | ||
| 1997 | $749.43M | +13.1% | ||
| 1996 | $662.55M | -1.8% | ||
| 1995 | $674.50M | +13.8% | ||
| 1994 | $592.70M | -9.5% | ||
| 1993 | $655.20M | -7.7% | ||
| 1992 | $709.90M | +13.8% | ||
| 1991 | $623.60M | +83.1% | ||
| 1990 | $340.60M | -8.0% | ||
| 1989 | $370.30M | -2.4% | ||
| 1988 | $379.50M | +45.5% | ||
| 1987 | $260.80M | -25.6% | ||
| 1986 | $350.60M | -11.0% | ||
| 1985 | $393.80M | — |
Total Debt values are taken from Southwest Airlines's reported balance sheets (10-Q quarterly and 10-K annual filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the date the filing was reported; YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
Analysis
As of the 2025 fiscal year, Southwest Airlines (LUV) reported total debt of $5.98B – declined 25.8% year-over-year.
Across 2020–2025 (5 years), Southwest Airlines total debt produced a CAGR of -13.3% – with a net decline across the window.
$12.28B stands as the all-time-high annual total debt, posted in 2021, against a low of $260.80M during 1987.
Within Industrials, Southwest Airlines (LUV) ranks 9th among 8 peers we track. The peer median for total debt is $37.04B.
Southwest Airlines Total Debt by Year
Southwest Airlines Total Debt 2025: $5.98B
Southwest Airlines total debt in 2025 was $5.98B, declined 25.8% below 2024.
Southwest Airlines Total Debt 2024: $8.06B
Southwest Airlines total debt in 2024 was $8.06B, declined 12.4% below 2023.
Southwest Airlines Total Debt 2023: $9.20B
Southwest Airlines total debt in 2023 was $9.20B, edged down 2.9% below 2022.
Southwest Airlines Total Debt 2022: $9.47B
Southwest Airlines total debt in 2022 was $9.47B, declined 22.9% below 2021.
Southwest Airlines Total Debt 2021: $12.28B
Southwest Airlines total debt in 2021 was $12.28B.
See more financial history for Southwest Airlines (LUV).
Sector peers — Total Debt
Companies in the same sector as Southwest Airlines, ranked by their latest total debt.
| Company | Total Debt | Sector |
|---|---|---|
| Deere & Company (DE) | $63.94B | Industrials |
| The Boeing Company (BA) | $54.43B | Industrials |
| Caterpillar Inc. (CAT) | $43.33B | Industrials |
| RTX Corporation (RTX) | $39.51B | Industrials |
| Honeywell International Inc. (HON) | $34.58B | Industrials |
| Union Pacific Corporation (UNP) | $31.81B | Industrials |
| GE Aerospace (GE) | $20.49B | Industrials |
| Eaton Corporation plc (ETN) | $11.17B | Industrials |
Frequently asked questions
What is Southwest Airlines's total debt?
- Latest reported total debt for Southwest Airlines (LUV) is $6.40B (period ending March 31, 2026).
How has Southwest Airlines total debt changed year-over-year?
- Southwest Airlines (LUV) total debt changed -25.8% year-over-year on the latest annual filing.
What is the long-term growth rate of Southwest Airlines total debt?
- Southwest Airlines (LUV) total debt compound annual growth rate is -13.3% over the most recent 5 years available.
When did Southwest Airlines total debt hit its highest annual value?
- Southwest Airlines total debt reached its highest annual value of $12.28B in 2021.
What was Southwest Airlines total debt in 2024?
- Southwest Airlines (LUV) total debt in 2024 was $8.06B.
What was Southwest Airlines total debt in 2025?
- Southwest Airlines (LUV) total debt in 2025 was $5.98B.
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