EX-99.07 8 ex9907-financialoverviewq4.htm EXHIBIT 99.07 Ex. 99.07 - Financial Overview Q4 2014





Exhibit 99.07
 
Southern Company
Financial Overview
As Reported
(In Millions of Dollars)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
December
 
Year-to-Date
December
 
 
2014
 
2013
 
% Change
 
2014
 
2013
 
% Change
Consolidated –
 
 
 
 
 
 
 
 
 
 
 
 
Operating Revenues
 
$
4,049

 
$
3,927

 
3.1
 %
 
$
18,499

 
$
17,087

 
8.3
 %
Earnings Before Income Taxes
 
415

 
623

 
(33.4
)%
 
3,035

 
2,559

 
18.6
 %
Net Income Available to Common
 
300

 
414

 
(27.5
)%
 
1,980

 
1,644

 
20.4
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
Alabama Power –
 
 
 
 
 
 
 
 
 
 
 
 
Operating Revenues
 
$
1,328

 
$
1,314

 
1.1
 %
 
$
5,942

 
$
5,618

 
5.8
 %
Earnings Before Income Taxes
 
211

 
237

 
(11.0
)%
 
1,312

 
1,229

 
6.8
 %
Net Income Available to Common
 
119

 
140

 
(15.0
)%
 
761

 
712

 
6.9
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
Georgia Power –
 
 
 
 
 
 
 
 
 
 
 
 
Operating Revenues
 
$
1,902

 
$
1,866

 
1.9
 %
 
$
8,988

 
$
8,274

 
8.6
 %
Earnings Before Income Taxes
 
196

 
335

 
(41.5
)%
 
1,971

 
1,914

 
3.0
 %
Net Income Available to Common
 
123

 
208

 
(40.9
)%
 
1,225

 
1,174

 
4.3
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
Gulf Power –
 
 
 
 
 
 
 
 
 
 
 
 
Operating Revenues
 
$
361

 
$
343

 
5.2
 %
 
$
1,590

 
$
1,440

 
10.4
 %
Earnings Before Income Taxes
 
39

 
44

 
(12.2
)%
 
237

 
212

 
12.0
 %
Net Income Available to Common
 
23

 
25

 
(9.9
)%
 
140

 
124

 
12.7
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
Mississippi Power –
 
 
 
 
 
 
 
 
 
 
 
 
Operating Revenues
 
$
278

 
$
268

 
3.8
 %
 
$
1,275

 
$
1,145

 
11.3
 %
Earnings (Loss) Before Income Taxes
 
(29
)
 
1

 
N/M

 
(585
)
 
(843
)
 
30.6
 %
Net Income (Loss) Available to Common
 
(7
)
 
13

 
N/M

 
(312
)
 
(477
)
 
34.5
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
Southern Power –
 
 
 
 
 
 
 
 
 
 
 
 
Operating Revenues
 
$
386

 
$
300

 
28.7
 %
 
$
1,501

 
$
1,275

 
17.7
 %
Earnings Before Income Taxes
 
18

 
32

 
(43.4
)%
 
172

 
211

 
(18.7
)%
Net Income Available to Common
 
44

 
24

 
90.8
 %
 
172

 
166

 
4.1
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
N/M - not meaningful
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Notes
 
 
 
 
 
 
 
 
 
 
 
 
- Mississippi Power Company restated its 2012 financial statements to reflect a pre-tax charge to income for the estimated probable loss on Kemper IGCC of $78 million ($48 million after tax) in 2012. Southern Company evaluated the portion of the estimated probable loss related to 2012 and concluded it was not material to Southern Company. Therefore, Southern Company reflected the pre-tax charge to income for this portion of the estimated probable loss related to 2012 in the first quarter 2013.
 
 
 
 
 
 
 
 
 
 
 
 
 
- All figures in this earnings release are preliminary and remain subject to the completion of normal quarter-end accounting procedures and adjustments, which could result in changes to these preliminary results. In addition, certain classifications and rounding may be different from final results published in the Form 10-K.