Exhibit 99.5

 

SOUTHWEST AIRLINES CO.
CONDENSED CONSOLIDATED STATEMENT OF INCOME (As adjusted--See Note)
(in millions except per share amounts)
(unaudited)
		Three months ended			Three months ended
		Sept. 30, 2005			Dec. 31, 2005
OPERATING REVENUES:
Passenger		$	1,912		$	1,906
Freight			32			35
Other			45			46
Total operating revenues			1,989			1,987
OPERATING EXPENSES:
Salaries, wages, and benefits			712			725
Fuel and oil			337			395
Maintenance materials and repairs			116			112
Aircraft rentals			36			42
Landing fees and other rentals			118			109
Depreciation and amortization			121			121
Other operating expenses			301			343
Total operating expenses			1,741			1,847
OPERATING INCOME			248			140
OTHER EXPENSES (INCOME):
Interest expense			32			32
Capitalized interest			(10	)		(11	)
Interest income			(13	)		(16	)
Other (gains) losses, net			(104	)		22
Total other expenses (income)			(95	)		27
INCOME BEFORE INCOME TAXES			343			113
PROVISION FOR INCOME TAXES			133			43
NET INCOME		$	210		$	70
NET INCOME PER SHARE:
Basic		$	.27		$	.09
Diluted		$	.26		$	.09
WEIGHTED AVERAGE SHARES OUTSTANDING:
Basic			789			797
Diluted			802			816
NOTE:
The Company's first and second quarter 2005 adjusted statements of income have been previously
published as part of the Company's first and second quarter 2006 earnings announcements. See our Form 10-Q
filings related to first and second quarter 2006 for further information.
The above statements of income for third and fourth quarter 2005, as retrospectively adjusted for the
Company's January 1, 2006 adoption of SFAS 123R and change in accounting for airframe maintenance, are
being provided for informational purposes only and have been included in this filing only to aid in the
assessment of the Company's prior year quarterly results as adjusted for the January 1, 2006 accounting changes.