EX-99.02 3 x9902.txt Exhibit 99.02 Southern Company Financial Highlights (In Millions of Dollars Except Earnings Per Share)
3 Months Ended December 12 Months Ended December ----------------------- ------------------------ 2004 2003 2004 2003 ---- ---- ---- ---- (Notes) (Notes) (Notes) (Notes) Consolidated Earnings- (See Notes) Retail Business $ 122 $ 117 $ 1,200 $ 1,153 Competitive Generation 44 30 220 224 ------ ------ ------- ------- Total 166 147 1,420 1,377 Synthetic Fuels 14 14 74 58 Leasing Business 1 8 24 29 Parent Company and Other (1) (7) (10) (36) ------ ------ ------- ------- Net Income - Excluding One-Time Items (See Notes) $ 180 $ 162 $ 1,508 $ 1,428 ====== ====== ======= ======= - As Reported $ 204 $ 125 $ 1,532 $ 1,474 ====== ====== ======= ======= Basic Earnings Per Share-(Notes) - Excluding One-Time Items (See Notes) $ 0.24 $ 0.22 $ 2.04 $ 1.97 - As Reported $ 0.27 $ 0.17 $ 2.07 $ 2.03 Operating Revenues $2,721 $2,520 $11,903 $11,186 Average Shares Outstanding (in millions) 741 733 739 727 End of Period Shares Outstanding (in millions) 741 735
Notes - Excludes a one-time after tax gain of $24 million in December 2004 from the resolution of an IRS audit for the years 2000 and 2001. - Excludes a one-time after tax gain of $83 million in May 2003 from the previously announced termination of all long-term wholesale power contracts between Southern Company and Dynegy, Inc. as adjusted for revenues that otherwise would have been recognized for the remainder of the year. - Excludes a regulatory expense of $37 million, after taxes, for Mississippi Power recorded in December, 2003. - Quarterly Earnings Per Share (EPS) is computed by using the current year-to-date EPS less the previous period year-to-date EPS. As a result of using rounded numbers, the EPS for significant factors may not directly correspond to the variance in millions of dollars shown above. - Diluted earnings per share are not more than 1 cent for any period reported above and are not material. - Certain prior year data has been reclassified to conform with current year presentation. - Information contained in this report is subject to audit and adjustments and certain classifications may be different from final results published in the Form 10-K.