Southwest Airlines 2014 Annual Report Download - page 142

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Report of Independent Registered Public Accounting Firm
The Board of Directors and Shareholders
Southwest Airlines Co.
We have audited the accompanying consolidated balance sheet of Southwest Airlines Co. as of
December 31, 2014 and 2013, and the related consolidated statements of income, comprehensive
income, stockholders’ equity, and cash flows for each of the three years in the period ended
December 31, 2014. These financial statements are the responsibility of the Company’s management.
Our responsibility is to express an opinion on these financial statements based on our audits.
We conducted our audits in accordance with the standards of the Public Company Accounting
Oversight Board (United States). Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material misstatement. An
audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the
financial statements. An audit also includes assessing the accounting principles used and significant
estimates made by management, as well as evaluating the overall financial statement presentation. We
believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in all material respects,
the consolidated financial position of Southwest Airlines Co. at December 31, 2014 and 2013, and the
consolidated results of its operations and its cash flows for each of the three years in the period ended
December 31, 2014, in conformity with U.S. generally accepted accounting principles.
We also have audited, in accordance with the standards of the Public Company Accounting
Oversight Board (United States), Southwest Airlines Co.’s internal control over financial reporting as
of December 31, 2014, based on criteria established in Internal Control-Integrated Framework issued
by the Committee of Sponsoring Organizations of the Treadway Commission (2013 Framework) and
our report dated February 6, 2015 expressed an unqualified opinion thereon.
/s/ Ernst & Young LLP
Dallas, Texas
February 6, 2015
134