Southwest Airlines 2003 Annual Report Download - page 69

A-51
Item 9A. Controls and Procedures
Disclosure Controls and Procedures.
The Company maintains controls and procedures 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. Based on an evaluation
of the Company's disclosure controls and procedures as of the end of the period covered by this report
conducted by the Company's management, with the participation of the Chief Executive and Chief
Financial Officers, the Chief Executive and Chief Financial Officers believe that these controls and
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 Control over Financial Reporting.
During the period covered by this report, there have been no changes in the Company's internal
control over financial reporting that have materially affected or are reasonably likely to materially affect
the Company's internal control over financial reporting.
PART III
Item 10. Directors and Executive Officers of the Registrant
The information required by Item 401 of Regulation S-K regarding directors is included under
“Election of Directors” in the definitive Proxy Statement for Southwest's Annual Meeting of Shareholders
to be held May 19, 2004 and is incorporated herein by reference. The information required by Item 401 of
Regulation S-K regarding executive officers is included under “Executive Officers of the Registrant” in
Part I following Item 4 of this Report. The information required by Item 405 of Regulation S-K is included
under “Section 16(a) Beneficial Ownership Reporting Compliance” in the definitive Proxy Statement for
Southwest's Annual Meeting of Shareholders to be held May 19, 2004 and is incorporated herein by
reference.
In the wake of well-publicized corporate scandals, the Securities and Exchange Commission and
the New York Stock Exchange have issued multiple new regulations, requiring the implementation of
policies and procedures in the corporate governance area. Since beginning business in 1971, Southwest
has thrived on a culture, which encourages an entrepreneurial spirit in its Employees, and has emphasized
personal responsibility, initiative, and the use of independent, good judgment. The Golden Rule is one of
the core values, and there is a “top-down” insistence on the highest ethical standards at all times.
In complying with new regulations requiring the institution of policies and procedures, it has been
the goal of Southwest’s Board of Directors and senior leadership to do so in a way which does not inhibit
or constrain Southwest’s unique culture, and which does not unduly impose a bureaucracy of forms and
checklists. Accordingly, formal, written policies and procedures have been adopted in the simplest
possible way, consistent with legal requirements. The Company’s Corporate Governance Guidelines, its
charters for each of its Compensation and Nominating and Corporate Governance Committees, and a
revised charter for its Audit Committee and its Code of Ethics covering all Employees are available on the
Company’s website, www.southwest.com, and a copy will be mailed upon request to Sr. Director -
Investor Relations, Southwest Airlines Co., P.O. Box 36611, Dallas, TX 75235. The Company intends to
disclose any amendments to or waivers of the Code of Ethics on behalf of the Company’s Chief Executive
Officer, Chief Financial Officer, Controller, and persons performing similar functions on the Company’s
website, at www.southwest.com under the “About SWA” caption, promptly following the date of such
amendment or waiver.