EX-99.06 7 x9906.txt Exhibit 99.06 Southern Company Financial Overview (In Millions of Dollars)
3 Months Ended December 12 Months Ended December ------------------------------ ----------------------------------- 2004 2003 % Change 2004 2003 % Change ---- ---- -------- ---- ---- -------- Consolidated - Operating Revenues $2,721 $2,520 8.0% $11,903 $11,186 6.4% Earnings Before Income Taxes 202 151 33.9% 2,118 2,086 1.5% Net Income As Reported (See Note) 204 125 63.6% 1,532 1,474 4.0% Alabama Power - Operating Revenues $971 $904 7.5% $4,236 $3,960 7.0% Earnings Before Income Taxes 117 102 13.5% 818 781 4.6% Net Income Available to Common 66 58 14.7% 481 473 1.8% Georgia Power - Operating Revenues $1,238 $1,111 11.5% $5,372 $4,914 9.3% Earnings Before Income Taxes 106 122 -13.0% 1,038 998 4.0% Net Income Available to Common 71 74 -3.7% 658 631 4.3% Gulf Power - Operating Revenues $235 $212 10.8% $960 $878 9.4% Earnings Before Income Taxes 1 4 -76.8% 108 110 -1.8% Net Income Available to Common 0 3 -86.1% 68 69 -1.1% Mississippi Power - Operating Revenues $210 $184 14.1% $911 $870 4.7% Earnings Before Income Taxes 5 (58) - 131 121 8.1% Net Income Available to Common (See Note) 2 (36) - 77 73 4.5% Savannah Electric - Operating Revenues $85 $68 25.6% $355 $314 13.2% Earnings Before Income Taxes 3 (1) - 40 38 4.6% Net Income Available to Common 2 (1) - 24 23 5.1% Southern Power - Operating Revenues $154 $128 20.9% $701 $682 2.9% Earnings Before Income Taxes 43 20 106.2% 185 240 -23.1% Net Income Available to Common (See Note) 25 12 95.2% 112 155 -28.1%
Notes - Includes 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. - Includes a one-time after tax gain of $83 million in May 2003 from the 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. - Includes a regulatory expense of $37 million, after taxes, for Mississippi Power recorded in December, 2003. - 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.