Other
Operating lease liabilities
Southwest Airlines Operating lease liabilities decreased by 21.0% to $252M in Q4 2025 compared to the prior quarter. Year-over-year, this metric declined by 21.0%, from $319M to $252M. Over 5 years (FY 2020 to FY 2025), Operating lease liabilities shows a downward trend with a -10.7% CAGR. This is a positive signal — lower values indicate better performance for this metric.
Analysis
StatementBalance Sheet Statement
SectionOther
CategoryLeverage
SignalLower is better
VolatilityStable
First reportedQ4 2019
Last reportedQ4 2025Feb 5, 2026
How to read this metric
An increase indicates higher reliance on leased assets, which impacts leverage ratios and future cash flow commitments.
Detailed definition
This represents the present value of future lease payments for assets such as aircraft or facilities, recognized under a...
Peer comparison
Highly comparable across the airline industry, where leasing aircraft is a standard capital strategy.
Metric ID:
other_deferred_tax_assets_operating_lease_liability_a67c19Historical Data
5 periods
| Q4 '21 | Q4 '22 | Q4 '23 | Q4 '24 | Q4 '25 | |
|---|---|---|---|---|---|
| Value | $371M | $313M | $279M | $319M | $252M |
| QoQ Change | — | -15.6% | -10.9% | +14.3% | -21.0% |
| YoY Change | — | -15.6% | -10.9% | +14.3% | -21.0% |
Range$252M – $371M
CAGR-32.1%
Avg YoY Growth-8.3%
Median YoY Growth-13.2%
Operating lease liabilities at Other Companies
Frequently Asked Questions
- What is Southwest Airlines's operating lease liabilities?
- Southwest Airlines (LUV) reported operating lease liabilities of $252M in Q4 2025.
- How has Southwest Airlines's operating lease liabilities changed year-over-year?
- Southwest Airlines's operating lease liabilities decreased by 21.0% year-over-year, from $319M to $252M.
- What is the long-term trend for Southwest Airlines's operating lease liabilities?
- Over 5 years (2020 to 2025), Southwest Airlines's operating lease liabilities has grown at a -10.7% compound annual growth rate (CAGR), from $443M to $252M.
- What does operating lease liabilities mean?
- The total value of future payments owed for leased assets like aircraft.