Southwest Airlines (LUV) Accumulated Expenses (2009 - 2026)

Southwest Airlines has reported Accumulated Expenses for 18 years, with the latest figure at $2.2 billion in Q1 2026.

• For the quarter ending Q1 2026, Accumulated Expenses rose 9.71% year-over-year to $2.2 billion; the trailing twelve-month figure through Mar 2026 stood at $2.2 billion (up 9.71% YoY), and the FY2025 full-year result was $2.3 billion, up 6.48% from the prior year.
• Accumulated Expenses for Q1 2026 stood at $2.2 billion, down from $2.3 billion in the prior quarter.
• The five-year high for Accumulated Expenses was $3.6 billion in Q4 2023, with the low at $1.4 billion in Q1 2022.
• Historically, Accumulated Expenses has averaged $2.2 billion across 5 years, with a median of $2.1 billion in 2024.
• Annual changes were most pronounced in 2023 — Accumulated Expenses surged 76.51% — and 2024, when it sank 38.82%.
• Southwest Airlines' Accumulated Expenses stood at $2.0 billion in 2022, then surged by 76.51% to $3.6 billion in 2023, then slumped by 38.82% to $2.2 billion in 2024, then rose by 6.48% to $2.3 billion in 2025, then dropped by 7.62% to $2.2 billion in 2026.
• The last three Accumulated Expenses figures came in at $2.2 billion (Q1 2026), $2.3 billion (Q4 2025), and $2.1 billion (Q3 2025), per Business Quant data.