EXHIBIT (11.1)
Page 1 of 4
Southwest Airlines Co.
Computation of Earnings Per Share
For the Three Months Ended June 30, 1997
Fully
Primary Diluted
Weighted average shares outstanding 145,592,516 145,592,516
Shares issuable upon exercise of outstanding
stock options (treasury stock method) 6,656,122 6,866,656
Weighted average common and common
equivalent shares 152,248,638 152,459,172
Earnings for per share computations $93,832,000 $93,832,000
Earnings per common and common
equivalent share $0.62 $0.62
EXHIBIT (11.1)
Page 2 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 3 of 4
Southwest Airlines Co.
Computation of Earnings Per Share
For the Six Months Ended June 30, 1997
Fully
Primary Diluted
Weighted average shares outstanding 145,453,969 145,453,969
Shares issuable upon exercise of outstanding
stock options (treasury stock method) 5,895,093 6,000,983
Weighted average common and common
equivalent shares 151,349,062 151,454,952
Earnings for per share computations $141,706,000 $144,706,000
Earnings per common and common
equivalent share $0.96 $0.96
EXHIBIT (11.1)
Page 4 of 4
Southwest Airlines Co.
Computation of Earnings Per Share
For the Six Months Ended June 30, 1996
Fully
Primary Diluted
Weighted average shares outstanding 144,510,625 144,510,625
Shares issuable upon exercise of outstanding
stock options (treasury stock method) 8,528,471 9,051,604
Weighted average common and common
equivalent shares 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