EXHIBIT (11.1)
Page 1 of 4
Southwest Airlines Co.
Computation of Earnings Per Share
For the Three Months Ended September 30, 1995
Fully
Primary Diluted
Weighted average shares outstanding 143,791,540 143,791,540
Shares issuable upon exercise of outstanding
stock options (treasury stock method) 7,855,352 7,856,359
Weighted average common and common
equivalent shares 151,646,892 151,647,899
Earnings for per share computations $67,717,000 $67,717,000
Earnings per common and common equivalent share $0.45 $0.45
EXHIBIT (11.1)
Page 2 of 4
Southwest Airlines Co.
Computation of Earnings Per Share
For the Three Months Ended September 30, 1994
Fully
Primary Diluted
Weighted average shares outstanding 143,110,112 143,110,112
Shares issuable upon exercise of outstanding
stock options (treasury stock method) 4,209,683 4,209,683
Weighted average common and common
equivalent shares 147,319,795 147,319,795
Earnings for per share computations $58,619,000 $58,619,000
Earnings per common and common equivalent $0.40 $0.40
share
EXHIBIT (11.1)
Page 3 of 4
Southwest Airlines Co.
Computation of Earnings Per Share
For the Nine Months Ended September 30, 1995
Fully
Primary Diluted
Equivalent shares outstanding at March 31,1995 146,532,231 146,532,231
Equivalent shares outstanding at June 30, 1995 147,347,541 147,466,666
Equivalent shares outstanding at
September 30, 1995 151,646,892 151,647,899
Total shares outstanding 445,526,664 445,646,796
Average number of equivalent shares outstanding 148,508,888 148,548,932
Earnings for per share computations $139,267,000 $139,267,000
Earnings per common and common equivalent share $0.94 $0.94
EXHIBIT (11.1)
Page 4 of 4
Southwest Airlines Co.
Computation of Earnings Per Share
For the Nine Months Ended September 30, 1994
Fully
Primary Diluted
Equivalent shares outstanding at March 31, 1994 147,600,272 147,601,742
Equivalent shares outstanding at June 30, 1994 147,374,478 147,374,478
Equivalent shares outstanding at September 30,1994 147,319,795 147,319,795
Total shares outstanding 442,294,545 442,296,015
Average number of equivalent shares outstanding 147,431,515 147,432,005
Earnings for per share computations $158,988,000 $158,988,000
Earnings per common and common equivalent share $1.08 $1.08