EX-99.03 4 ex9903-significantfactorsi.htm EXHIBIT 99.03 Ex. 99.03 - Significant Factors Impacting EPS Q2 2015

Exhibit 99.03
 
Southern Company
Significant Factors Impacting EPS
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
June
 
Year-to-Date
June
 
 
2015
 
2014
 
Change
 
2015
 
2014
 
Change
Consolidated Earnings Per Share–
 
 
 
 
 
 
 
 
 
 
 
 
As Reported (See Notes)
 
$
0.69

 
$
0.68

 
$
0.01

 
$
1.25

 
$
1.08

 
$
0.17

 
 
 
 
 
 
 
 
 
 
 
 
 
  Significant Factors:
 
 
 
 
 
 
 
 
 
 
 
 
  Traditional Operating Companies
 
 
 
 
 
$
(0.02
)
 
 
 
 
 
$
0.16

Southern Power
 
 
 
 
 
0.02

 
 
 
 
 
0.02

Parent Company and Other
 
 
 
 
 
0.02

 
 
 
 
 
0.02

  Increase in Shares
 
 
 
 
 
(0.01
)
 
 
 
 
 
(0.03
)
  Total–As Reported
 
 
 
 
 
$
0.01

 
 
 
 
 
$
0.17

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
June
 
Year-to-Date
June
 
 
2015
 
2014
 
Change
 
2015
 
2014
 
Change
Consolidated Earnings Per Share–
 
 
 
 
 
 
 
 
 
 
 
 
Excluding Items (See Notes)
 
$
0.71

 
$
0.68

 
$
0.03

 
$
1.28

 
$
1.34

 
$
(0.06
)
 
 
 
 
 
 
 
 
 
 
 
 
 
  Total–As Reported
 
 
 
 
 
$
0.01

 
 
 
 
 
$
0.17

  Estimated Loss on Kemper IGCC
 
 
 
 
 
0.02

 
 
 
 
 
(0.24
)
Additional MCAR settlement costs
 
 
 
 
 
—

 
 
 
 
 
0.01

  Total–Excluding Items
 
 
 
 
 
$
0.03

 


 


 
$
(0.06
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Notes
 
 
 
 
 
 
 
 
 
 
 
 
- For the three and six months ended June 30, 2015 and 2014, 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 and six months ended June 30, 2015 and the six months ended June 30, 2014. Similar charges may occur with uncertain frequency.
 
 
 
 
 
 
 
 
 
 
 
 
 
- Earnings for the three and six months ended June 30, 2015 include additional costs related to the discontinued operations of Mirant Corporation and the March 2009 litigation settlement with MC Asset Recovery, LLC. Further charges are not expected to occur. These costs were the same for the three and six months ended June 30, 2015; however, these costs on a per share basis differ between the periods due to the effects of rounding.
 
 
 
 
 
 
 
 
 
 
 
 
 
- 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.