EX-99.02 3 ex9902-financialhighlights.htm EXHIBIT Ex. 99.02 - Financial Highlights


Exhibit 99.02
 
Southern Company
Financial Highlights
(In Millions of Dollars Except Earnings Per Share)
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
December
 
Year-to-Date
December
 
 
2012
 
2011
 
2012
 
2011
Consolidated Earnings–As Reported
 
 
 
 
 
 
 
 
(See Notes)
 
 
 
 
 
 
 
 
  Traditional Operating Companies
 
$
349

 
$
248

 
$
2,146

 
$
2,052

  Southern Power
 
31

 
24

 
175

 
162

  Total
 
380

 
272

 
2,321

 
2,214

  Parent Company and Other
 
3

 
(11
)
 
29

 
(11
)
  Net Income–As Reported
 
$
383

 
$
261

 
$
2,350

 
$
2,203

 
 
 
 
 
 
 
 
 
  Basic Earnings Per Share
 
$
0.44

 
$
0.30

 
$
2.70

 
$
2.57

 
 
 
 
 
 
 
 
 
  Average Shares Outstanding (in millions)
 
869

 
865

 
871

 
857

  End of Period Shares Outstanding (in millions)
 
 
 
 
 
868

 
867

 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
December
 
Year-to-Date
December
 
 
2012
 
2011
 
2012
 
2011
Consolidated Earnings–Excluding Items
 
 
 
 
 
 
 
 
(See Notes)
 
 
 
 
 
 
 
 
  Net Income–As Reported
 
$
383

 
$
261

 
$
2,350

 
$
2,203

  MC Asset Recovery Insurance Settlement, net
 

 

 
(21
)
 

  Net Income–Excluding Items
 
$
383

 
$
261

 
$
2,329

 
$
2,203

 
 
 
 
 
 
 
 
 
  Basic Earnings Per Share–Excluding Items
 
$
0.44

 
$
0.30

 
$
2.68

 
$
2.57

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Notes
 
 
 
 
 
 
 
 
- For the three months and twelve months ended December 31, 2012 and 2011, dilution does not change basic earnings per share by more than 3 cents and is not material.
 
 
 
 
 
 
 
 
 
- In March 2009, Southern Company recorded a charge related to a settlement agreement with MC Asset Recovery, LLC (MCAR) to settle a lawsuit. Southern Company filed an insurance claim for a portion of the MCAR settlement amount. In June 2012, Southern Company received an insurance recovery related to this claim. Earnings for the twelve months ended December 31, 2012 include 2 cents a share for the MCAR insurance recovery.
 
 
 
 
 
 
 
 
 
- Certain prior year data has been reclassified to conform with current year presentation.
 
 
 
 
 
 
 
 
 
- All figures in this earnings release are preliminary and remain subject to the completion of normal year-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.