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
December
 
Year-to-Date
December
 
 
2019
 
2018
 
% Change
 
2019
 
2018
 
% Change
Southern Company1 –
 
 
 
 
 
 
 
 
 
 
 
 
Operating Revenues
 
$
4,914

 
$
5,337

 
(7.9
)%
 
$
21,419

 
$
23,495

 
(8.8
)%
Earnings Before Income Taxes
 
335

 
120

 
179.2
 %
 
6,542

 
2,749

 
138.0
 %
Net Income Available to Common
 
440

 
278

 
58.3
 %
 
4,739

 
2,226

 
112.9
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
Alabama Power –
 
 
 
 
 
 
 
 
 
 
 
 
Operating Revenues
 
$
1,363

 
$
1,316

 
3.6
 %
 
$
6,125

 
$
6,032

 
1.5
 %
Earnings Before Income Taxes
 
67

 
96

 
(30.2
)%
 
1,355

 
1,236

 
9.6
 %
Net Income Available to Common
 
88

 
73

 
20.5
 %
 
1,070

 
930

 
15.1
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
Georgia Power –
 
 
 
 
 
 
 
 
 
 
 
 
Operating Revenues
 
$
1,703

 
$
1,818

 
(6.3
)%
 
$
8,408

 
$
8,420

 
(0.1
)%
Earnings Before Income Taxes
 
128

 
175

 
(26.9
)%
 
2,192

 
1,007

 
117.7
 %
Net Income Available to Common
 
122

 
173

 
(29.5
)%
 
1,720

 
793

 
116.9
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
Mississippi Power –
 
 
 
 
 
 
 
 
 
 
 
 
Operating Revenues
 
$
294

 
$
308

 
(4.5
)%
 
$
1,264

 
$
1,265

 
(0.1
)%
Earnings Before Income Taxes
 
3

 
24

 
(87.5
)%
 
169

 
134

 
26.1
 %
Net Income Available to Common
 
—

 
149

 
(100.0
)%
 
139

 
235

 
(40.9
)%
 
 
 
 
 
 
 
 
 
 
 
 
 
Southern Power1 –
 
 
 
 
 
 
 
 
 
 
 
 
Operating Revenues
 
$
411

 
$
506

 
(18.8
)%
 
$
1,938

 
$
2,205

 
(12.1
)%
Earnings (Loss) Before Income Taxes
 
(28
)
 
(14
)
 
100.0
 %
 
273

 
82

 
232.9
 %
Net Income (Loss) Available to Common
 
23

 
(48
)
 
(147.9
)%
 
339

 
187

 
81.3
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
Southern Company Gas1 –
 
 
 
 
 
 
 
 
 
 
 
 
Operating Revenues
 
$
1,131

 
$
1,048

 
7.9
 %
 
$
3,792

 
$
3,909

 
(3.0
)%
Earnings Before Income Taxes
 
307

 
67

 
358.2
 %
 
715

 
836

 
(14.5
)%
Net Income Available to Common
 
238

 
78

 
205.1
 %
 
585

 
372

 
57.3
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
Notes
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
- See Financial Highlights pages for discussion of certain significant items occurring during the periods presented.
 
 
 
 
 
 
 
(1)
Financial comparisons to the prior year were significantly 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.