Southwest Airlines Co. reported consolidated unaudited earnings results for the fourth quarter and full year ended December 31, 2012. For the quarter, the company reported total operating revenues of $4,173 million against $4,108 million a year ago. Operating income was $91 million against $147 million a year ago. Income before income taxes was $125 million against $255 million a year ago. Net income was $78 million or $0.11 per diluted share against $152 million or $0.20 per diluted share a year ago. Operating income, non-GAAP was $136 million against $167 million a year ago. Income before income taxes, non-GAAP was $105 million against $107 million a year ago. Net income, non-GAAP was $65 million or $0.09 per diluted share against $66 million or $0.09 per diluted share a year ago. Net cash provided by operating activities was $232 million against $400 million a year ago. Payments for purchase of property and equipment, net were $399 million against $420 million a year ago.

For the full year, the company reported total operating revenues of $17,088 million against $15,658 million a year ago. Operating income was $623 million against $693 million a year ago. Income before income taxes was $685 million against $323 million a year ago. Net income was $421 million or $0.56 per diluted share against $178 million or $0.23 per diluted share a year ago. Operating income, non-GAAP was $838 million against $839 million a year ago. Income before income taxes, non-GAAP was $679 million against $558 million a year ago. Net income, non-GAAP was $417 million or $0.56 per diluted share against $330 million or $0.43 per diluted share a year ago. Net cash provided by operating activities was $2,064 million against $1,385 million a year ago. Payments for purchase of property and equipment, net were $1,348 million against $968 million a year ago.

The company provided free cash flow guidance for the full year of 2013. The company expects healthy free cash flow in 2013. The company remains focused on enhancing Shareholder value through capital efficiency and its targeted 15% pretax return on invested capital.