1.0.0.3falseFinancingfalse1$falsefalseSharesStandardhttp://www.xbrl.org/2003/instancesharesxbrli0USDStandardhttp://www.xbrl.org/2003/iso4217USDiso42170USDEPSDividehttp://www.xbrl.org/2003/iso4217USDiso4217http://www.xbrl.org/2003/instancesharesxbrli020so_FinancingAbstractsofalsenadurationstringFinancing.falsefalsefalsefalsefalsetruefalsefalsefalse1falsefalse00falsefalseFinancing.false31us-gaap_DebtDisclosureTextBlockus-gaaptruenadurationstringNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalse00<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" -->
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<div style="font-family: 'Times New Roman',Times,serif">
<div align="left" style="font-size: 10pt; margin-top: 12pt"><b>6. FINANCING</b>
</div>
<div align="left" style="font-size: 10pt; margin-top: 6pt"><b>Long-Term Debt Payable to Affiliated Trusts</b>
</div>
<div align="left" style="font-size: 10pt; margin-top: 6pt">Certain of the traditional operating companies have formed certain wholly-owned trust subsidiaries
for the purpose of issuing preferred securities. The proceeds of the related equity investments
and preferred security sales were loaned back to the applicable traditional operating company
through the issuance of junior subordinated notes totaling $412 million, which constitute
substantially all of the assets of these trusts and are reflected in the balance sheets as
“Long-term Debt.” Such traditional operating companies each consider that the mechanisms and
obligations relating to the preferred securities issued for its benefit, taken together, constitute
a full and unconditional guarantee by it of the respective trusts’ payment obligations with respect
to these securities. At December 31, 2009, preferred securities of $400 million were outstanding.
See Note 1 under “Variable Interest Entities” for additional information on the accounting
treatment for these trusts and the related securities.
</div>
<div align="left" style="font-size: 10pt; margin-top: 12pt"><b>Securities Due Within One Year</b>
</div>
<div align="left" style="font-size: 10pt; margin-top: 6pt">A summary of scheduled maturities and redemptions of securities due within one year at December 31
was as follows:
</div>
<div align="center">
<table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<tr valign="bottom">
<td width="76%"> </td>
<td width="5%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="5%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td style="border-bottom: 1px solid #000000"> </td>
<td style="border-bottom: 1px solid #000000"> </td>
<td nowrap="nowrap" align="center" colspan="3" style="border-bottom: 1px solid #000000"><b>2009</b></td>
<td style="border-bottom: 1px solid #000000"> </td>
<td nowrap="nowrap" align="center" colspan="3" style="border-bottom: 1px solid #000000">2008</td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="7" style="font-size: 8pt"><i>(in millions)</i></td>
</tr>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Capitalized leases
</div></td>
<td> </td>
<td align="right"><b>$</b></td>
<td align="right"><b>21</b></td>
<td> </td>
<td> </td>
<td align="right">$</td>
<td align="right">20</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Senior notes
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>1,090</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">565</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Other long-term debt
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>2</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">32</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td colspan="9" align="left" style="border-top: 1px solid #000000"> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Total
</div></td>
<td> </td>
<td align="right"><b>$</b></td>
<td align="right"><b>1,113</b></td>
<td> </td>
<td> </td>
<td align="right">$</td>
<td align="right">617</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td colspan="9" align="left" style="border-top: 3px double #000000"> </td>
</tr>
<!-- End Table Body -->
</table>
</div>
<div align="left" style="font-size: 10pt; margin-top: 6pt">Maturities through 2014 applicable to total long-term debt are as follows: $1.1 billion in 2010;
$1.1 billion in 2011; $1.8 billion in 2012; $941 million in 2013; and $430 million in 2014.
</div>
<div align="left" style="font-size: 10pt; margin-top: 12pt"><b>Bank Term Loans</b>
</div>
<div align="left" style="font-size: 10pt; margin-top: 6pt">Certain of the traditional operating companies have entered into bank term loan agreements. In
2008, Georgia Power borrowed $300 million under a three-year term loan agreement. In 2008, Gulf
Power borrowed $110 million under a three-year loan agreement. Mississippi Power also borrowed
$80 million under a three-year term loan agreement in 2008. The proceeds of these loans were used
to repay maturing long-term and short-term indebtedness and for other general corporate purposes.
</div>
<div align="left" style="font-size: 10pt; margin-top: 12pt"><b>Senior Notes</b>
</div>
<div align="left" style="font-size: 10pt; margin-top: 6pt">Southern Company and its subsidiaries issued a total of $2.4 billion of senior notes in 2009.
Southern Company issued $650 million, and the traditional operating companies’ combined issuances
totaled $1.8 billion. The proceeds of these issuances were used to repay long-term and short-term
indebtedness and for other general corporate purposes.
</div>
<div align="left" style="font-size: 10pt; margin-top: 6pt">At December 31, 2009 and 2008, Southern Company and its subsidiaries had a total of $14.7 billion
and $12.9 billion, respectively, of senior notes outstanding. At December 31, 2009 and 2008,
Southern Company had a total of $1.8 billion and $1.1 billion, respectively, of senior notes
outstanding.
</div>
<div align="left" style="font-size: 10pt; margin-top: 12pt"><b>Pollution Control Revenue Bonds</b>
</div>
<div align="left" style="font-size: 10pt; margin-top: 6pt">Pollution control obligations represent loans to the traditional operating companies from public
authorities of funds derived from sales by such authorities of revenue bonds issued to finance
pollution control and solid waste disposal facilities. The traditional operating companies have
$3.6 billion of outstanding pollution control revenue bonds and are required to make payments
sufficient for the authorities to meet principal and interest requirements of such bonds. Proceeds
from certain issuances are restricted until qualifying expenditures are incurred.
</div>
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</div>
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<div style="font-family: 'Times New Roman',Times,serif">
<div align="left" style="font-size: 10pt; margin-top: 0pt">
<b>
</b>
</div>
<div align="left" style="font-size: 10pt; margin-top: 12pt"><b>Assets Subject to Lien</b>
</div>
<div align="left" style="font-size: 10pt; margin-top: 6pt">Each of Southern Company’s subsidiaries is organized as a legal entity, separate and apart from
Southern Company and its other subsidiaries. Alabama Power and Gulf Power have granted one or more
liens on certain of their respective property in connection with the issuance of certain pollution
control revenue bonds with an outstanding principal amount of $194 million. There are no
agreements or other arrangements among the subsidiary companies under which the assets of one
company have been pledged or otherwise made available to satisfy obligations of Southern Company or
any of its other subsidiaries.
</div>
<div align="left" style="font-size: 10pt; margin-top: 12pt"><b>Bank Credit Arrangements</b>
</div>
<div align="left" style="font-size: 10pt; margin-top: 6pt">At December 31, 2009, unused credit arrangements with banks totaled $4.8 billion, of which $1.5
billion expires during 2010, $25 million expires in 2011, and $3.2 billion expires in 2012. The
following table outlines the credit arrangements by company:
</div>
<div align="center">
<table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<tr valign="bottom">
<td width="23%"> </td>
<td width="4%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="4%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="4%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="4%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="4%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="4%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="4%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="7"><b>Executable</b></td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="11"> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="7" style="border-bottom: 1px solid #000000"><b>Term-Loans</b></td>
<td style="border-bottom: 1px solid #000000"> </td>
<td nowrap="nowrap" align="center" colspan="11" style="border-bottom: 1px solid #000000"><b>Expires</b></td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="3"><b>One</b></td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="3"><b>Two</b></td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="3"> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="3"> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="3"> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td nowrap="nowrap" align="left" style="border-bottom: 1px solid #000000"><b>Company</b></td>
<td style="border-bottom: 1px solid #000000"> </td>
<td nowrap="nowrap" align="center" colspan="3" style="border-bottom: 1px solid #000000"><b>Total</b></td>
<td style="border-bottom: 1px solid #000000"> </td>
<td nowrap="nowrap" align="center" colspan="3" style="border-bottom: 1px solid #000000"><b>Unused</b></td>
<td style="border-bottom: 1px solid #000000"> </td>
<td nowrap="nowrap" align="center" colspan="3" style="border-bottom: 1px solid #000000"><b>Year</b></td>
<td style="border-bottom: 1px solid #000000"> </td>
<td nowrap="nowrap" align="center" colspan="3" style="border-bottom: 1px solid #000000"><b>Years</b></td>
<td style="border-bottom: 1px solid #000000"> </td>
<td nowrap="nowrap" align="center" colspan="3" style="border-bottom: 1px solid #000000"><b>2010</b></td>
<td style="border-bottom: 1px solid #000000"> </td>
<td nowrap="nowrap" align="center" colspan="3" style="border-bottom: 1px solid #000000"><b>2011</b></td>
<td style="border-bottom: 1px solid #000000"> </td>
<td nowrap="nowrap" align="center" colspan="3" style="border-bottom: 1px solid #000000"><b>2012</b></td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="11" style="font-size: 8pt"><i>(in millions)</i></td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Southern Company
</div></td>
<td> </td>
<td align="right">$</td>
<td align="right">950</td>
<td> </td>
<td> </td>
<td align="right">$</td>
<td align="right">950</td>
<td> </td>
<td> </td>
<td align="right">$</td>
<td align="right">—</td>
<td> </td>
<td> </td>
<td align="right">$</td>
<td align="right">—</td>
<td> </td>
<td> </td>
<td align="right">$</td>
<td align="right">—</td>
<td> </td>
<td> </td>
<td align="right">$</td>
<td align="right">—</td>
<td> </td>
<td> </td>
<td align="right">$</td>
<td align="right">950</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Alabama Power
</div></td>
<td> </td>
<td> </td>
<td align="right">1,271</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">1,271</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">372</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">—</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">481</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">25</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">765</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Georgia Power
</div></td>
<td> </td>
<td> </td>
<td align="right">1,715</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">1,703</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">—</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">40</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">595</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">—</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">1,120</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Gulf Power
</div></td>
<td> </td>
<td> </td>
<td align="right">220</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">220</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">70</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">—</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">220</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">—</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">—</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Mississippi Power
</div></td>
<td> </td>
<td> </td>
<td align="right">156</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">156</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">15</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">41</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">156</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">—</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">—</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Southern Power
</div></td>
<td> </td>
<td> </td>
<td align="right">400</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">400</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">—</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">—</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">—</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">—</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">400</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Other
</div></td>
<td> </td>
<td> </td>
<td align="right">60</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">60</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">60</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">—</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">60</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">—</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">—</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td colspan="29" align="left" style="border-top: 1px solid #000000"> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Total
</div></td>
<td> </td>
<td align="right">$</td>
<td align="right">4,772</td>
<td> </td>
<td> </td>
<td align="right">$</td>
<td align="right">4,760</td>
<td> </td>
<td> </td>
<td align="right">$</td>
<td align="right">517</td>
<td> </td>
<td> </td>
<td align="right">$</td>
<td align="right">81</td>
<td> </td>
<td> </td>
<td align="right">$</td>
<td align="right">1,512</td>
<td> </td>
<td> </td>
<td align="right">$</td>
<td align="right">25</td>
<td> </td>
<td> </td>
<td align="right">$</td>
<td align="right">3,235</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td colspan="29" align="left" style="border-top: 3px double #000000"> </td>
</tr>
<!-- End Table Body -->
</table>
</div>
<div align="left" style="font-size: 10pt; margin-top: 6pt">All of the credit arrangements require payment of commitment fees based on the unused portion of
the commitments or the maintenance of compensating balances with the banks. Commitment fees
average approximately <font style="font-size: 70%"><sup>1</sup></font>/<font style="font-size: 60%">2</font> of 1% or less for Southern Company, the traditional operating companies,
and Southern Power. Compensating balances are not legally restricted from withdrawal.
</div>
<div align="left" style="font-size: 10pt; margin-top: 6pt">Most of the credit arrangements with banks have covenants that limit debt levels to 65% of total
capitalization, as defined in the agreements. For purposes of these definitions, debt excludes the
long-term debt payable to affiliated trusts and, in certain arrangements, other hybrid securities.
At December 31, 2009, Southern Company, Southern Power, and the traditional operating companies
were each in compliance with their respective debt limit covenants.
</div>
<div align="left" style="font-size: 10pt; margin-top: 6pt">In addition, the credit arrangements typically contain cross default provisions that would be
triggered if the borrower defaulted on other indebtedness above a specified threshold. The cross
default provisions are restricted only to the indebtedness, including any guarantee obligations, of
the company that has such credit arrangements. Southern Company and its subsidiaries are currently
in compliance with all such covenants.
</div>
<div align="left" style="font-size: 10pt; margin-top: 6pt">A portion of the $4.8 billion unused credit with banks is allocated to provide liquidity support to
the traditional operating companies’ variable rate pollution control revenue bonds. The amount of
variable rate pollution control revenue bonds requiring liquidity support as of December 31, 2009
was approximately $1.6 billion. Subsequent to December 31, 2009, two remarketings of pollution
control revenue bonds increased the total requiring liquidity support to $1.8 billion.
</div>
<div align="left" style="font-size: 10pt; margin-top: 6pt">Southern Company, the traditional operating companies, and Southern Power make short-term
borrowings primarily through commercial paper programs that have the liquidity support of committed
bank credit arrangements. Southern Company and the traditional operating companies may also borrow
through various other arrangements with banks. The amounts of commercial paper outstanding and
included in notes payable in the balance sheets at December 31, 2009 and December 31, 2008 were
$638 million and $794 million, respectively. The amounts of short-term bank loans included in
notes payable in the balance sheets at December 31, 2008 were $150 million. There were no short
term-bank loans included in notes payable in the balance sheet at December 31, 2009.
</div>
<div align="left" style="font-size: 10pt; margin-top: 6pt">During 2009, the peak amount outstanding for short-term debt was $1.4 billion, and the average
amount outstanding was $956 million. The average annual interest rate on short-term debt was 0.4%
for 2009 and 2.7% for 2008.
</div>
<!-- Folio -->
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</div>
<!-- PAGEBREAK -->
<div style="font-family: 'Times New Roman',Times,serif">
<div align="left" style="font-size: 10pt; margin-top: 0pt">
<b>
</b>
</div>
<div align="left" style="font-size: 10pt; margin-top: 12pt"><b>Changes in Redeemable Preferred Stock of Subsidiaries</b>
</div>
<div align="left" style="font-size: 10pt; margin-top: 6pt">Each of the traditional operating companies has issued preferred and/or preference stock. The
preferred stock of Alabama Power and Mississippi Power contains a feature that allows the holders
to elect a majority of such subsidiary’s board of directors if dividends are not paid for four
consecutive quarters. Because such a potential redemption-triggering event is not solely within
the control of Alabama Power and Mississippi Power, this preferred stock is presented as
“Redeemable Preferred Stock of Subsidiaries” in a manner consistent with temporary equity under
applicable accounting standards. The preferred and preference stock at Georgia Power and the
preference stock at Alabama Power and Gulf Power do not contain such a provision that would allow
the holders to elect a majority of such subsidiary’s board. As a result, under applicable
accounting standards, the preferred and preference stock at Georgia Power and the preference stock
at Alabama Power and Gulf Power are required to be shown as “noncontrolling interest,” separately
presented as a component of “Stockholders’ Equity” on Southern Company’s consolidated balance
sheets, consolidated statements of capitalization, and consolidated statements of stockholders’
equity.
</div>
<div align="left" style="font-size: 10pt; margin-top: 6pt">The following table presents changes during the year in redeemable preferred stock of subsidiaries
for Southern Company:
</div>
<div align="center">
<table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<tr valign="bottom">
<td width="88%"> </td>
<td width="5%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="3"><b>Redeemable Preferred Stock</b></td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td style="border-bottom: 1px solid #000000"> </td>
<td style="border-bottom: 1px solid #000000"> </td>
<td nowrap="nowrap" align="center" colspan="3" style="border-bottom: 1px solid #000000"><b>of Subsidiaries</b></td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="3" style="font-size: 8pt"><i>(in millions)</i></td>
</tr>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px"><b>Balance at December 31, 2006</b>
</div></td>
<td> </td>
<td align="right">$</td>
<td align="right">498</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:30px; text-indent:-15px">Issued
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>—</b></td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:30px; text-indent:-15px">Redeemed
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>—</b></td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td colspan="5" align="left" style="border-top: 1px solid #000000"> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px"><b>Balance at December 31, 2007</b>
</div></td>
<td> </td>
<td align="right">$</td>
<td align="right">498</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:30px; text-indent:-15px">Issued
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>—</b></td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:30px; text-indent:-15px">Redeemed
</div></td>
<td> </td>
<td nowrap="nowrap" align="right"> </td>
<td align="right">(125</td>
<td nowrap="nowrap">)</td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:30px; text-indent:-15px">Other
</div></td>
<td> </td>
<td> </td>
<td align="right">2</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td colspan="5" align="left" style="border-top: 1px solid #000000"> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px"><b>Balance at December 31, 2008</b>
</div></td>
<td> </td>
<td align="right">$</td>
<td align="right">375</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:30px; text-indent:-15px">Issued
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>—</b></td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:30px; text-indent:-15px">Redeemed
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>—</b></td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td colspan="5" align="left" style="border-top: 1px solid #000000"> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px"><b>Balance at December 31, 2009</b>
</div></td>
<td> </td>
<td align="right"><b>$</b></td>
<td align="right"><b>375</b></td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td colspan="5" align="left" style="border-top: 3px double #000000"> </td>
</tr>
<!-- End Table Body -->
</table>
</div>
</div>
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