EXHIBIT (11.1)
Page 1 of 4
Southwest Airlines Co.
Computation of Earnings Per Share
For the Three Months Ended June 30, 1996
Fully
Primary Diluted
Weighted average shares outstanding 144,705,676 144,705,676
Shares issuable upon exercise of outstanding
stock options (treasury stock method) 8,969,735 8,969,761
Weighted average common and common
equivalent shares 153,675,411 153,675,437
Earnings for per share computations 85,316,000 85,316,000
Earnings per common and common equivalent share $0.56 $0.56
EXHIBIT (11.1)
Page 2 of 4
Southwest Airlines Co.
Computation of Earnings Per Share
For the Three Months Ended June 30, 1995
Fully
Primary Diluted
Weighted average shares outstanding 143,606,941 143,606,941
Shares issuable upon exercise of outstanding
stock options (treasury stock method) 3,740,600 3,859,725
Weighted average common and common
equivalent shares 147,347,541 147,466,666
Earnings for per share computations 59,724,000 59,724,000
Earnings per common and common equivalent share $0.41 $0.41
EXHIBIT (11.1)
Page 3 of 4
Southwest Airlines Co.
Computation of Earnings Per Share
For the Six Months Ended June 30, 1996
Fully
Primary Diluted
Equivalent shares outstanding at March 31, 1996 152,402,780 153,449,020
Equivalent shares outstanding at June 30, 1996 153,675,411 153,675,437
306,078,191 307,124,427
Average number of equivalent shares outstanding 153,039,096 153,562,229
Earnings for per share computations $118,317,000 $118,317,000
Earnings per common and common equivalent share $0.77 $0.77
EXHIBIT (11.1)
Page 4 of 4
Southwest Airlines Co.
Computation of Earnings Per Share
For the Six Months Ended June 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
293,879,772 293,998,897
Average number of equivalent shares outstanding 146,939,886 146,999,449
Earnings for per share computations $71,550,000 $71,550,000
Earnings per common and common equivalent share $0.49 $0.49