Southwest Airlines (LUV) Rent Expense (2009 - 2026)

Southwest Airlines (LUV) has 18 years of Rent Expense data on file, last reported at $572.0 million in Q1 2026.

• For the quarter ending Q1 2026, Rent Expense rose 9.58% year-over-year to $572.0 million; the trailing twelve-month figure through Mar 2026 stood at $2.2 billion (up 10.25% YoY), and the FY2025 full-year result was $2.2 billion, up 11.01% from the prior year.
• Rent Expense for Q1 2026 stood at $572.0 million, up from $540.0 million in the prior quarter.
• Across five years, Rent Expense topped out at $572.0 million in Q1 2026 and bottomed at $346.0 million in Q1 2022.
• The 5-year median for Rent Expense is $465.0 million (2023), against an average of $471.1 million.
• The widest annual swing landed in 2022, when Rent Expense slipped 3.72%; it then increased 22.37% in 2023.
• A 5-year view of Rent Expense shows it stood at $380.0 million in 2022, then increased by 22.37% to $465.0 million in 2023, then grew by 6.24% to $494.0 million in 2024, then grew by 9.31% to $540.0 million in 2025, then advanced by 5.93% to $572.0 million in 2026.
• The last three Rent Expense figures came in at $572.0 million (Q1 2026), $540.0 million (Q4 2025), and $548.0 million (Q3 2025), per Business Quant data.

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