Southwest Airlines annual capital expenditures (capex)
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Southwest Airlines Capital Expenditures (CapEx) Growth & History (LUV)
Southwest Airlines's capital expenditures (capex) was $2.67B for fiscal 2025.
View full Southwest Airlines company overviewSouthwest Airlines annual capital expenditures (capex) history
| Fiscal year | Period ended | Capital expenditures (CapEx) | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | $2.67B | $619.0M | +30.14% |
| 2024 | 2024-12-31 | $2.05B | −$1.47B | −41.65% |
| 2023 | 2023-12-31 | $3.52B | −$404.0M | −10.30% |
| 2022 | 2022-12-31 | $3.92B | $3.42B | +677.03% |
| 2021 | 2021-12-31 | $505.0M | −$10.0M | −1.94% |
| 2020 | 2020-12-31 | $515.0M | −$512.0M | −49.85% |
| 2019 | 2019-12-31 | $1.03B | −$895.0M | −46.57% |
| 2018 | 2018-12-31 | $1.92B | −$201.0M | −9.47% |
| 2017 | 2017-12-31 | $2.12B | $85.0M | +4.17% |
| 2016 | 2016-12-31 | $2.04B | −$3.0M | −0.15% |
| 2015 | 2015-12-31 | $2.04B | $293.0M | +16.76% |
| 2014 | 2014-12-31 | $1.75B | $301.0M | +20.80% |
| 2013 | 2013-12-31 | $1.45B | $99.0M | +7.34% |
| 2012 | 2012-12-31 | $1.35B | $380.0M | +39.26% |
| 2011 | 2011-12-31 | $968.0M | $475.0M | +96.35% |
| 2010 | 2010-12-31 | $493.0M | −$92.0M | −15.73% |
| 2009 | 2009-12-31 | $585.0M | −$338.0M | −36.62% |
| 2008 | 2008-12-31 | $923.0M | −$408.0M | −30.65% |
| 2007 | 2007-12-31 | $1.33B | — | — |
Southwest Airlines quarterly capital expenditures (capex)
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| Fiscal quarter | Period ended | Capital expenditures (CapEx) | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $818.0M | $158.0M | +23.94% |
| Q1 2026 | 2026-03-31 | $630.0M | $103.0M | +19.54% |
| Q4 2025 | 2025-12-31 | $808.0M | $348.0M | +75.65% |
| Q3 2025 | 2025-09-30 | $678.0M | $161.0M | +31.14% |
| Q2 2025 | 2025-06-30 | $660.0M | $166.0M | +33.60% |
| Q1 2025 | 2025-03-31 | $527.0M | −$56.0M | −9.61% |
| Q4 2024 | 2024-12-31 | $460.0M | −$247.0M | −34.94% |
| Q3 2024 | 2024-09-30 | $517.0M | −$325.0M | −38.60% |
| Q2 2024 | 2024-06-30 | $494.0M | −$431.0M | −46.59% |
| Q1 2024 | 2024-03-31 | $583.0M | −$463.0M | −44.26% |
| Q4 2023 | 2023-12-31 | $707.0M | −$648.0M | −47.82% |
| Q3 2023 | 2023-09-30 | $842.0M | −$230.0M | −21.46% |
| Q2 2023 | 2023-06-30 | $925.0M | −$62.0M | −6.28% |
| Q1 2023 | 2023-03-31 | $1.05B | $536.0M | +105.10% |
| Q4 2022 | 2022-12-31 | $1.35B | $1.18B | +652.78% |
| Q3 2022 | 2022-09-30 | $1.07B | $937.0M | +694.07% |
| Q2 2022 | 2022-06-30 | $987.0M | $892.0M | +938.95% |
| Q1 2022 | 2022-03-31 | $510.0M | $415.0M | +436.84% |
| Q4 2021 | 2021-12-31 | $180.0M | $91.0M | +102.25% |
| Q3 2021 | 2021-09-30 | $135.0M | $46.0M | +51.69% |
| Q2 2021 | 2021-06-30 | $95.0M | −$18.0M | −15.93% |
| Q1 2021 | 2021-03-31 | $95.0M | −$129.0M | −57.59% |
| Q4 2020 | 2020-12-31 | $89.0M | −$173.0M | −66.03% |
| Q3 2020 | 2020-09-30 | $89.0M | −$286.0M | −76.27% |
| Q2 2020 | 2020-06-30 | $113.0M | −$117.0M | −50.87% |
| Q1 2020 | 2020-03-31 | $224.0M | $64.0M | +40.00% |
| Q4 2019 | 2019-12-31 | $262.0M | −$276.0M | −51.30% |
| Q3 2019 | 2019-09-30 | $375.0M | −$79.0M | −17.40% |
| Q2 2019 | 2019-06-30 | $230.0M | −$291.0M | −55.85% |
| Q1 2019 | 2019-03-31 | $160.0M | −$249.0M | −60.88% |
| Q4 2018 | 2018-12-31 | $538.0M | $18.0M | +3.46% |
| Q3 2018 | 2018-09-30 | $454.0M | −$184.0M | −28.84% |
| Q2 2018 | 2018-06-30 | $521.0M | −$30.0M | −5.44% |
| Q1 2018 | 2018-03-31 | $409.0M | −$5.0M | −1.21% |
| Q4 2017 | 2017-12-31 | $520.0M | −$154.0M | −22.85% |
| Q3 2017 | 2017-09-30 | $638.0M | $174.0M | +37.50% |
| Q2 2017 | 2017-06-30 | $551.0M | $89.0M | +19.26% |
| Q1 2017 | 2017-03-31 | $414.0M | −$24.0M | −5.48% |
| Q4 2016 | 2016-12-31 | $674.0M | −$136.0M | −16.79% |
| Q3 2016 | 2016-09-30 | $464.0M | $234.0M | +101.74% |
| Q2 2016 | 2016-06-30 | $462.0M | $34.0M | +7.94% |
| Q1 2016 | 2016-03-31 | $438.0M | −$135.0M | −23.56% |
| Q4 2015 | 2015-12-31 | $810.0M | $344.0M | +73.82% |
| Q3 2015 | 2015-09-30 | $230.0M | −$176.0M | −43.35% |
| Q2 2015 | 2015-06-30 | $428.0M | −$53.0M | −11.02% |
| Q1 2015 | 2015-03-31 | $573.0M | $178.0M | +45.06% |
| Q4 2014 | 2014-12-31 | $466.0M | $14.0M | +3.10% |
| Q3 2014 | 2014-09-30 | $406.0M | $138.0M | +51.49% |
| Q2 2014 | 2014-06-30 | $481.0M | $288.0M | +149.22% |
| Q1 2014 | 2014-03-31 | $395.0M | −$139.0M | −26.03% |
| Q4 2013 | 2013-12-31 | $452.0M | $53.0M | +13.28% |
| Q3 2013 | 2013-09-30 | $268.0M | −$138.0M | −33.99% |
| Q2 2013 | 2013-06-30 | $193.0M | −$223.0M | −53.61% |
| Q1 2013 | 2013-03-31 | $534.0M | $407.0M | +320.47% |
| Q4 2012 | 2012-12-31 | $399.0M | −$21.0M | −5.00% |
| Q3 2012 | 2012-09-30 | $406.0M | $130.0M | +47.10% |
| Q2 2012 | 2012-06-30 | $416.0M | $201.0M | +93.49% |
| Q1 2012 | 2012-03-31 | $127.0M | $70.0M | +122.81% |
| Q4 2011 | 2011-12-31 | $420.0M | $325.0M | +342.11% |
| Q3 2011 | 2011-09-30 | $276.0M | $176.0M | +176.00% |
| Q2 2011 | 2011-06-30 | $215.0M | $56.0M | +35.22% |
| Q1 2011 | 2011-03-31 | $57.0M | −$82.0M | −58.99% |
| Q4 2010 | 2010-12-31 | $95.0M | −$20.0M | −17.39% |
| Q3 2010 | 2010-09-30 | $100.0M | −$98.0M | −49.49% |
| Q2 2010 | 2010-06-30 | $159.0M | −$28.0M | −14.97% |
| Q1 2010 | 2010-03-31 | $139.0M | $54.0M | +63.53% |
| Q4 2009 | 2009-12-31 | $115.0M | −$43.0M | −27.22% |
| Q3 2009 | 2009-09-30 | $198.0M | $20.0M | +11.24% |
| Q2 2009 | 2009-06-30 | $187.0M | −$36.0M | −16.14% |
| Q1 2009 | 2009-03-31 | $85.0M | −$279.0M | −76.65% |
| Q4 2008 | 2008-12-31 | $158.0M | — | — |
| Q3 2008 | 2008-09-30 | $178.0M | — | — |
| Q2 2008 | 2008-06-30 | $223.0M | — | — |
| Q1 2008 | 2008-03-31 | $364.0M | — | — |
Southwest Airlines capital expenditures (capex) trends
Over the last five fiscal years, Southwest Airlines's capital expenditures (capex) increased from $515.0M to $2.67B, a change of $2.16B. The latest reported quarter, Q2 2026, shows $818.0M.
About the metric
What capital expenditures (CapEx) mean
Capital expenditures, commonly called CapEx, are cash investments in long-lived assets such as property, plants, equipment, infrastructure, and productive software. CapEx can support future growth or maintain existing operations, but it reduces current-period free cash flow.
Calculation and source
SEC-reported capital expenditures
TickerStat standardizes cash payments for property, plant, equipment, and other productive assets reported in company SEC filings. When a filer reports separate qualifying CapEx components instead of a total, those components are combined for the same fiscal period. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Southwest Airlines source filings ↗