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Southwest Airlines Annual Report (Amendment), Year Ended Dec 31, 2006

Filing Date
Filed February 28, 2007
Period End
December 31, 2006
Security
LUV
In the record · 2016–202610-K1210-Q338-K204

LUV filed 12 annual reports (10-K), 33 quarterly reports (10-Q) and 204 current reports (8-K) between 2016 and 2026.

  1. Leadership change8-K · Jan ’17Jan ’17
  2. FY2018 annual report10-K · Feb ’19Feb ’19
  3. Leadership change8-K · Nov ’21Nov ’21
  4. Material agreement8-K · Nov ’25Nov ’25

01—Abstract

Summary

Summary of the 10-K/A filed February 28, 2007. Cited figures are marked; the original filing is the authoritative source.

Southwest Airlines Co. filed this annual report on February 27, 2007, signed by Laura Wright, Senior Vice President-Finance and Chief Financial Officer, for the fiscal year ended December 31, 2006.

The filing consists mainly of Item 11 (Executive Compensation) and Item 15 (Exhibits and Financial Statement Schedules). Item 11 incorporates by reference the compensation sections of the definitive proxy statement for the Annual Meeting of Shareholders to be held May 16, 2007. Item 15 states that the financial statements are included in Item 8 of the annual report, and that no financial statement schedules are filed.

The bulk of the document is an exhibit index. It lists the restated articles and amendments, the bylaws as amended through January 2007, and several debt instruments, including a $600,000,000a Competitive Advance and Revolving Credit Facility Agreement dated April 20, 2004, as amended in August 2005, and indentures dated in 1991, 1997, 2004 and 2005. The Boeing Purchase Agreement No. 1810 and its numerous supplemental agreements are listed, with Supplemental Agreement No. 51 noted as filed on February 1, 2007 with the original annual report.

The index also covers the company's compensation plans, including stock option plans, the Profit Sharing Plan and 401(k) Plan, and the employment and severance contracts for named executives. Amendment No. 8 to the Profit Sharing Plan and Amendment No. 7 to the 401(k) Plan are noted as filed on February 1, 2007 with the original report, as is the Ernst & Young LLP consent. Some exhibits are incorporated by reference to earlier Forms 10-K, 10-Q, 8-K and S-8 filings, and certain confidential information in Boeing-related exhibits has been omitted under a Confidential Treatment Application.

The Section 906 certifications by Chief Executive Officer Gary C. Kelly and Chief Financial Officer Laura H.

Wright are dated February 27, 2007 and refer to an Annual Report on Form 10-K/A for the period ended December 31, 2006. The certifications state that the report fully complies with Section 13(a) or 15(d) of the Securities Exchange Act of 1934 and fairly presents, in all material respects, the company's financial condition and results of operations.

02—Key points

Key Highlights

  1. Item 11 incorporates executive compensation disclosure by reference from the proxy statement for the Annual Meeting of Shareholders to be held May 16, 2007.
  2. Item 15 states that financial statements are included in Item 8 and that no financial statement schedules are filed.
  3. A $600,000,000 Competitive Advance and Revolving Credit Facility Agreement dated April 20, 2004, as amended August 9, 2005, is listed as an exhibit.
  4. Multiple indentures are listed, dated June 20, 1991; February 25, 1997; September 17, 2004; and February 14, 2005, with the company noting it is not filing other debt instruments below 10 percent of total consolidated assets.
  5. The exhibit index includes the Boeing Purchase Agreement No. 1810 (dated January 19, 1994) and Supplemental Agreements through No. 51, with confidential information omitted under a Confidential Treatment Application.
  6. Compensation plan exhibits include stock option plans, the Profit Sharing Plan (Amendment No. 8), the 401(k) Plan (Amendment No. 7), and executive employment and severance contracts.
  7. The Section 906 certifications by Gary C. Kelly and Laura H. Wright are dated February 27, 2007.

03—Questions

Frequently Asked Questions

  1. Where can investors find executive compensation details for Southwest Airlines for this filing?

    Item 11 states that the information is included under 'Compensation of Executive Officers' in the definitive proxy statement for the May 16, 2007 Annual Meeting of Shareholders, and that the 'Compensation Discussion and Analysis' and 'Compensation Committee Report' sections of that proxy statement are incorporated by reference.

  2. Does this filing include financial statement schedules?

    No. Item 15 states that there are no financial statement schedules filed, because the required information is included in the consolidated financial statements and notes, or such schedules are not required. It also states that the financial statements included in Item 8 are filed as part of this annual report.

  3. What major credit and debt arrangements are referenced in the exhibits?

    The exhibit index lists a $600,000,000 Competitive Advance and Revolving Credit Facility Agreement dated April 20, 2004, with a First Amendment dated August 9, 2005, and several indentures with various trustees dated in 1991, 1997, 2004 and 2005. The filing does not state the outstanding balances under these arrangements.

  4. What aircraft purchase agreement is referenced?

    The exhibit index references Purchase Agreement No. 1810, dated January 19, 1994, between The Boeing Company and Southwest, together with its supplemental agreements, numbered 1 through 51. Supplemental Agreement No. 51 was filed on February 1, 2007 with the original annual report, and certain confidential information in these exhibits has been omitted and filed separately.

04—Continue

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