EX-99.02 3 ex9902-financialhighlights.htm EXHIBIT 99.02 Exhibit


Exhibit 99.02
 
Southern Company
Financial Highlights
(In Millions of Dollars Except Earnings Per Share)
 
 
 
 
 
 
 
Three Months Ended
March
 
 
2016
 
2015
Consolidated Earnings–As Reported
 
 
 
 
(See Notes)
 
 
 
 
  Traditional Operating Companies
 
$
464

 
$
477

  Southern Power
 
50

 
33

  Total
 
514

 
510

  Parent Company and Other
 
(29
)
 
(2
)
  Net Income–As Reported
 
$
485

 
$
508

 
 
 
 
 
  Basic Earnings Per Share
 
$
0.53

 
$
0.56

 
 
 
 
 
  Average Shares Outstanding (in millions)
 
916

 
910

  End of Period Shares Outstanding (in millions)
 
918

 
908

 
 
 
 
 
 
 
Three Months Ended
March
 
 
2016
 
2015
Consolidated Earnings–Excluding Items
 
 
 
 
(See Notes)
 
 
 
 
  Net Income–As Reported
 
$
485

 
$
508

Estimated Loss on Kemper IGCC
 
33

 
6

Acquisition Costs
 
14

 

  Net Income–Excluding Items
 
$
532

 
$
514

 
 
 
 
 
  Basic Earnings Per Share–Excluding Items
 
$
0.58

 
$
0.56

 
 
 
 
 
Notes
 
 
 
 
- For the three months ended March 31, 2016 and 2015, dilution does not change basic earnings per share by more than 1 cent and is not material.
 
 
 
 
 
- The estimated probable losses relating to Mississippi Power Company's construction of the integrated coal
gasification combined cycle facility in Kemper County, Mississippi (Kemper IGCC) significantly impacted the
presentation of earnings and earnings per share for the three months ended March 31, 2016 and any similar charges
may occur with uncertain frequency.
 
- Earnings for the three months ended March 31, 2016 include costs related to the proposed acquisitions of AGL Resources Inc. and PowerSecure International, Inc. Further costs are expected to continue to occur in connection with closing the proposed acquisitions and supporting the related integrations.
 
- All figures in this earnings release are preliminary and remain subject to the completion of normal quarter-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-Q.