Originally Posted by Beckles

This is not correct. As of 3/31/08 WN had $3.0 billion of cash and cash equivalents and $140 million in other short-term investments (which would match up with the $3.1 billion of cash you mention). Fuel derivitives are not counted as cash (which seems pretty obvious to me), the current portion of fuel derivitives was valued at $1.25 billion on 3/31/08 (there is a line item on their balance sheet called Fuel Derivitive Contracts) while Other Assets on their balance sheet (which includes non-current fuel derivitive contracts) were $1.9 billion on 3/31/08. (See LUV Quarterly Balance Sheet)

Originally Posted by Southwest Q1 Earnings Release

The Company ended first quarter 2008 with $3.1 billion in cash and short-term investments, which included $2.6 billion in fuel derivative cash collateral deposits. In addition, the Company had a fully available unsecured revolving credit line of $600 million.