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Company:
Southwest Airlines Co.

Plan:
Southwest Airlines Co. Profit Sharing Plan
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Plan Information
Plan Year 01/01/2010 — 12/31/2010
Effective Date of Plan 01/01/1973
Net Assets as of 12/31/2010 $1,944,572,655
Plan Number 1
Plan Type Single Employer
Is the plan collectively bargained? No
Did the plan file for an extension of time or the DFVC Program? Yes
Plan Funding Arrangement Trust
Plan Benefit Arrangement Trust

Participant Information as of 12/31/2010
Active (Eligible) Participants 36,559
Retired or separated participants receiving benefits 1,694
Other retired or separated participants entitled to future benefits 1,749
Subtotal 40,002
Deceased participants whose beneficiaries are receiving or are entitled to receive benefits 74
Total 40,076
Total number of participants as of 01/01/2010 39,661
Number of participants with account balances 38,440
Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 384

Plan Sponsor Information
Address 2702 Love Field Drive, Hdq-6Tx
Dallas, TX 75235 -1908
Telephone (214) 792-4000
EIN 74-1563240
Industry Code 481000
Named Administrator Daryl Krause, Member Ps 401K Commi
Named Plan Sponsor Jeff Lamb, Srvp, Chf Ppl Officer

Plan Administrator Information
Administrator Name Southwest Airlines Co. Ps 401K Committee
Address P.O. Box 36611
Dallas, TX 75235 -1908
Telephone (214) 792-4000
Administrator EIN 75-1544136

Audit Information
Audit Status Audited
Auditor Mayer Hoffman Mccann P.C.
Auditor EIN 43-1947695
Audit Opinion Unqualified
Audit Type Full Audit

Benefits Provided Under the Plan
Code Benefit Description
2E Profit-sharing A defined contribution plan that allows employer discretionary contributions. These plans often contain a 401(k) feature.
2F ERISA section 404(c) Plan This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.
2G Total participant-directed account plan Participants have the opportunity to direct the investment of all the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2R Brokerage Window Participant-directed brokerage accounts provided as an investment option under the plan.
2T Participant-directed Account Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.

  Question Answer Amount
1. During the plan year did the employer fail to transmit to the plan any participant contributions within the time period described in 29 CFT 2510.3-102? No  
2. Were any loans by the plan or fixed income obligations due the plan in default as of the close of plan year or classified during the year as uncollectible? Disregard participant loans secured by participant's account balance. No  
3. Were any leases to which the plan was a party in default or classified during the year as uncollectible? No  
4. Were there any nonexempt transactions with any party-in-interest? No  
5. Was this plan covered by a fidelity bond? Yes $10,000,000
6. Did the plan have a loss, whether or not reimbursed by the plan's fidelity bond, that was caused by fraud or dishonesty? No  
7. Did the plan hold any assets whose current value was neither readily determinable on an established market nor set by an independent third party appraiser? No  
8. Did the plan receive any noncash contributions whose value was neither readily determinable on an established market nor set by an independent third party appraiser? No  
9. Did the plan have assets held for investment? Yes  
10. Were any plan transactions or series of transactions in excess of 5% of the current value of plan assets? No  
11. Were all the plan assets either distributed to participants or beneficiaries, transferred to another plan, or brought under the control of the PBGC? No  
12. Has the plan failed to provide any benefit when due under the plan? No  
13. If this is an individual account plan, was there a blackout period? No  
14. If there was a blackout period, have you either provided the required notice or one of the exceptions to providing the notice applied under 29 CFR 2520.101-3?