Southwest Airlines 2014 Annual Report Download - page 145

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Item 9. Changes in and Disagreements With Accountants on Accounting and Financial
Disclosure
None.
Item 9A. Controls and Procedures
Evaluation of Disclosure Controls and Procedures. The Company maintains disclosure controls
and procedures (as defined in Rule 13a-15(e) of the Securities Exchange Act (the “Exchange Act”))
designed to provide reasonable assurance that the information required to be disclosed by the Company
in the reports that it files or submits under the Exchange Act is recorded, processed, summarized, and
reported within the time periods specified in the SEC’s rules and forms. These include controls and
procedures designed to ensure that this information is accumulated and communicated to the Company’s
management, including its Chief Executive Officer and Chief Financial Officer, as appropriate to allow
timely decisions regarding required disclosure. Management, with the participation of the Company’s
Chief Executive Officer and Chief Financial Officer, evaluated the effectiveness of the Company’s
disclosure controls and procedures as of December 31, 2014. Based on this evaluation, the Company’s
Chief Executive Officer and Chief Financial Officer have concluded that the Company’s disclosure
controls and procedures were effective as of December 31, 2014, at the reasonable assurance level.
Management’s Annual Report on Internal Control over Financial Reporting. Management of
the Company is responsible for establishing and maintaining adequate internal control over financial
reporting (as defined in Rule 13a-15(f) of the Exchange Act). The Company’s internal control over
financial reporting is a process, under the supervision of the Company’s Chief Executive Officer and
Chief Financial Officer, designed to provide reasonable assurance regarding the reliability of financial
reporting and the preparation of financial statements for external purposes in accordance with
accounting principles generally accepted in the United States.
Because of its inherent limitations, internal control over financial reporting may not prevent or
detect misstatements. Therefore, even those systems determined to be effective can provide only
reasonable assurance of achieving their control objectives.
Management, with the participation of the Company’s Chief Executive Officer and Chief
Financial Officer, evaluated the effectiveness of the Company’s internal control over financial
reporting as of December 31, 2014. In making this assessment, management used the criteria set forth
by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) in Internal
Control—Integrated Framework (2013 Framework). Based on this evaluation, management, with the
participation of the Company’s Chief Executive Officer and Chief Financial Officer, concluded that, as
of December 31, 2014, the Company’s internal control over financial reporting was effective.
Ernst & Young, LLP, the independent registered public accounting firm who audited the
Company’s Consolidated Financial Statements included in this Form 10-K, has issued a report on the
Company’s internal control over financial reporting, which is included herein.
Changes in Internal Control over Financial Reporting. There were no changes in the
Company’s internal control over financial reporting (as defined in Rule 13a-15(f) of the Exchange Act)
during the quarter ended December 31, 2014, that have materially affected, or are reasonably likely to
materially affect, the Company’s internal control over financial reporting.
Item 9B. Other Information
None.
137