EX-99.04 6 x9904.txt Exhibit 99.04 SOUTHERN COMPANY ANALYSIS OF CONSOLIDATED EARNINGS (In Millions of Dollars)
3 Months Ended December 12 Months Ended December --------------------------------------- ---------------------------------------- 2003 2002 Change 2003 2002 Change ---- ---- ------ ---- ---- ------ Income Account- Retail Revenue $1,968 $1,950 $ 18 $ 8,875 $ 8,728 $147 Wholesale Revenue 347 298 49 1,383 1,168 215 Other Electric Revenues 105 233 (128) 514 310 204 Non-regulated Operating Revenues 144 131 13 504 343 161 ----- ----- ---- ------- ------- ---- Total Revenues 2,564 2,457 107 11,276 10,549 727 ----- ----- ---- ------- ------- ---- Fuel and Purchased Power 847 799 48 3,619 3,280 339 Non-fuel O & M 973 904 69 3,239 3,084 155 Depreciation and Amortization 263 282 (19) 1,027 1,047 (20) Taxes Other Than Income Taxes 139 132 7 586 557 29 ----- ----- ---- ------- ------- ---- Total Operating Expenses 2,222 2,117 105 8,471 7,968 503 ----- ----- ---- ------- ------- ---- Operating Income 342 340 2 2,805 2,581 224 Other Income, net (10) (11) 1 (19) (51) 32 Interest Charges and Dividends 181 172 9 700 684 16 Income Taxes 26 (10) 36 612 528 84 ----- ----- ----- ------- ------- ---- NET INCOME AS REPORTED $ 125 $ 167 $ (42) $ 1,474 $ 1,318 $156 ===== ===== ===== ======= ======= ==== NET INCOME EXCLUDING ONE-TIME ITEMS $ 162 $ 167 $ (5) $ 1,428 $ 1,318 $110 ===== ===== ===== ======= ======= ====