EX-99.07 8 ex9907-financialovervi.htm EXHIBIT 99.07 Exhibit





Exhibit 99.07
 
 
 
 
 
 
 
 
Southern Company
Financial Overview
As Reported
(In Millions of Dollars)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
September
 
Year-to-Date
September
 
 
2019
 
2018
 
% Change
 
2019
 
2018
 
% Change
Southern Company1 –
 
 
 
 
 
 
 
 
 
 
 
 
Operating Revenues
 
$
5,995

 
$
6,159

 
(2.7
)%
 
$
16,505

 
$
18,158

 
(9.1
)%
Earnings Before Income Taxes
 
1,712

 
1,845

 
(7.2
)%
 
6,207

 
2,629

 
136.1
 %
Net Income Available to Common
 
1,316

 
1,164

 
13.1
 %
 
4,298

 
1,948

 
120.6
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
Alabama Power –
 
 
 
 
 
 
 
 
 
 
 
 
Operating Revenues
 
$
1,841

 
$
1,740

 
5.8
 %
 
$
4,762

 
$
4,716

 
1.0
 %
Earnings Before Income Taxes
 
617

 
504

 
22.4
 %
 
1,288

 
1,140

 
13.0
 %
Net Income Available to Common
 
469

 
373

 
25.7
 %
 
982

 
857

 
14.6
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
Georgia Power –
 
 
 
 
 
 
 
 
 
 
 
 
Operating Revenues
 
$
2,755

 
$
2,593

 
6.2
 %
 
$
6,706

 
$
6,601

 
1.6
 %
Earnings Before Income Taxes
 
1,094

 
926

 
18.1
 %
 
2,064

 
833

 
147.8
 %
Net Income Available to Common
 
839

 
664

 
26.4
 %
 
1,598

 
621

 
157.3
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
Mississippi Power –
 
 
 
 
 
 
 
 
 
 
 
 
Operating Revenues
 
$
370

 
$
358

 
3.4
 %
 
$
970

 
$
956

 
1.5
 %
Earnings Before Income Taxes
 
80

 
61

 
31.1
 %
 
166

 
110

 
50.9
 %
Net Income Available to Common
 
65

 
47

 
38.3
 %
 
139

 
86

 
61.6
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
Southern Power1 –
 
 
 
 
 
 
 
 
 
 
 
 
Operating Revenues
 
$
574

 
$
635

 
(9.6
)%
 
$
1,527

 
$
1,699

 
(10.1
)%
Earnings Before Income Taxes
 
130

 
108

 
20.4
 %
 
301

 
96

 
213.5
 %
Net Income Available to Common
 
86

 
92

 
(6.5
)%
 
316

 
235

 
34.5
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
Southern Company Gas1 –
 
 
 
 
 
 
 
 
 
 
 
 
Operating Revenues
 
$
498

 
$
492

 
1.2
 %
 
$
2,661

 
$
2,861

 
(7.0
)%
Earnings (Loss) Before Income Taxes
 
(51
)
 
362

 
(114.1
)%
 
408

 
769

 
(46.9
)%
Net Income (Loss) Available to Common
 
(29
)
 
46

 
(163.0
)%
 
347

 
294

 
18.0
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
Notes
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
- See Financial Highlights pages for discussion of certain significant items occurring during the periods presented.
 
 
 
 
 
 
 
(1)
Financial comparisons to the prior year were impacted by (i) Southern Company Gas' disposition of: (a) Pivotal Home Solutions on June 4, 2018, (b) Elizabethtown Gas and Elkton Gas on July 1, 2018, and (c) Florida City Gas on July 29, 2018; (ii) the disposition of Southern Power Company’s ownership interest in (a) Plants Oleander and Stanton on December 4, 2018 and (b) Plant Nacogdoches on June 13, 2019; (iii) Southern Power Company's sale of (a) a 33% equity interest in a limited partnership indirectly owning substantially all of its solar facilities on May 22, 2018 and (b) a noncontrolling interest in its subsidiary owning eight operating wind facilities on December 11, 2018; and (iv) Southern Company's disposition of Gulf Power Company on January 1, 2019.