Southwest Airlines 2002 Annual Report Download - page 74

SOUTHWEST AIRLINES CO. 2002 10-K | 55
PART III
Item 10. Directors and Executive Officers of the
Registrant
See “Election of Directors” incorporated herein
by reference from the definitive Proxy Statement
for Southwest’s Annual Meeting of Shareholders
to be held May 14, 2003. See “Executive Officers
of the Registrant” in Part I following Item 4 for
information relating to executive officers.
Item 11. Executive Compensation
See “Compensation of Executive Officers,”
incorporated herein by reference from the
definitive Proxy Statement for Southwest’s
Annual Meeting of Shareholders to be held
May 14, 2003.
Item 12. Security Ownership of Certain Beneficial
Owners and Management and Related
Stockholder Matters
See “Voting Securities and Principal
Shareholders,” incorporated herein by reference
from the definitive Proxy Statement for
Southwest’s Annual Meeting of Shareholders to
be held May 14, 2003.
Item 13. Certain Relationships and Related
Transactions
See “Election of Directors,” incorporated
herein by reference from the definitive Proxy
Statement for Southwest’s Annual Meeting of
Shareholders to be held May 14, 2003.
Item 14. Controls and Procedures
Disclosure Controls and Procedures
The Company maintains controls and proce-
dures designed to ensure that it is able to collect
the information it is required to disclose in the
reports it files with the SEC and to process,
summarize, and disclose this information within
the time periods specified in the rules of the
SEC. The Company’s Chief Executive and Chief
Financial Officers are responsible for establishing
and maintaining these procedures, and, as
required by the rules of the SEC, evaluate their
effectiveness. Based on their evaluation of the
Company’s disclosure controls and procedures
which took place as of a date within 90 days of
the filing date of this report, the Chief Executive
and Chief Financial Officers believe that these
procedures are effective to ensure that the
Company is able to collect, process, and disclose
the information it is required to disclose in the
reports it files with the SEC within the required
time periods.
Internal Controls
The Company maintains a system of internal
controls designed to provide reasonable
assurance that: transactions are executed in
accordance with management’s general or
specific authorization; transactions are recorded
as necessary (1) to permit preparation of
financial statements in conformity with generally
accepted accounting principles, and (2) to
maintain accountability for assets; access to
assets is permitted only in accordance with
management’s general or specific authorization;
and the recorded accountability for assets is
compared with the existing assets at reasonable
intervals and appropriate action is taken with
respect to any differences.
Since the date of the most recent evaluation of
the Company’s internal controls by the Chief
Executive and Chief Financial Officers, there
have been no significant changes in such
controls or in other factors that could have
significantly affected those controls, including any
corrective actions with regard to significant
deficiencies and material weaknesses.