EX-99.07 8 ex9907-financialoverviewq4.htm EXHIBIT 99.07 Exhibit





Exhibit 99.07
 
Southern Company
Financial Overview
As Reported
(In Millions of Dollars)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended December
 
Year-to-Date
December
 
 
2018
 
2017
 
% Change
 
2018
 
2017
 
% Change
Southern Company1 –
 
 
 
 
 
 
 
 
 
 
 
 
Operating Revenues
 
$
5,337

 
$
5,629

 
(5.2
)%
 
$
23,495

 
$
23,031

 
2.0
 %
Earnings Before Income Taxes
 
120

 
325

 
(63.1
)%
 
2,749

 
1,068

 
157.4
 %
Net Income Available to Common
 
278

 
496

 
(44.0
)%
 
2,226

 
842

 
164.4
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
Alabama Power –
 
 
 
 
 
 
 
 
 
 
 
 
Operating Revenues
 
$
1,316

 
$
1,433

 
(8.2
)%
 
$
6,032

 
$
6,039

 
(0.1
)%
Earnings Before Income Taxes
 
96

 
198

 
(51.5
)%
 
1,236

 
1,434

 
(13.8
)%
Net Income Available to Common
 
73

 
119

 
(38.7
)%
 
930

 
848

 
9.7
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
Georgia Power –
 
 
 
 
 
 
 
 
 
 
 
 
Operating Revenues
 
$
1,818

 
$
1,884

 
(3.5
)%
 
$
8,420

 
$
8,310

 
1.3
 %
Earnings Before Income Taxes
 
175

 
352

 
(50.3
)%
 
1,007

 
2,258

 
(55.4
)%
Net Income Available to Common
 
173

 
227

 
(23.8
)%
 
793

 
1,414

 
(43.9
)%
 
 
 
 
 
 
 
 
 
 
 
 
 
Gulf Power –
 
 
 
 
 
 
 
 
 
 
 
 
Operating Revenues
 
$
359

 
$
372

 
(3.5
)%
 
$
1,465

 
$
1,516

 
(3.4
)%
Earnings Before Income Taxes
 
(6
)
 
30

 
(120.0
)%
 
140

 
229

 
(38.9
)%
Net Income Available to Common
 
13

 
19

 
(31.6
)%
 
160

 
135

 
18.5
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
Mississippi Power –
 
 
 
 
 
 
 
 
 
 
 
 
Operating Revenues
 
$
308

 
$
271

 
13.7
 %
 
$
1,265

 
$
1,187

 
6.6
 %
Earnings (Loss) Before Income Taxes
 
24

 
(202
)
 
N/M

 
134

 
(3,120
)
 
N/M

Net Income (Loss) Available to Common
 
149

 
(556
)
 
N/M

 
235

 
(2,590
)
 
N/M

 
 
 
 
 
 
 
 
 
 
 
 
 
Southern Power1 –
 
 
 
 
 
 
 
 
 
 
 
 
Operating Revenues
 
$
506

 
$
478

 
5.9
 %
 
$
2,205

 
$
2,075

 
6.3
 %
Earnings Before Income Taxes
 
(14
)
 
(17
)
 
N/M

 
82

 
178

 
(53.9
)%
Net Income Available to Common
 
(48
)
 
795

 
N/M

 
187

 
1,071

 
(82.5
)%
 
 
 
 
 
 
 
 
 
 
 
 
 
Southern Company Gas1 –
 
 
 
 
 
 
 
 
 
 
 
 
Operating Revenues
 
$
1,048

 
$
1,079

 
(2.9
)%
 
$
3,909

 
$
3,920

 
(0.3
)%
Earnings Before Income Taxes
 
67

 
74

 
(9.5
)%
 
836

 
610

 
37.0
 %
Net Income Available to Common
 
78

 
(60
)
 
N/M

 
372

 
243

 
53.1
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
N/M - not meaningful
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Notes
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
- See Financial Highlights pages for discussion of certain significant items occurring during the periods presented.
(1) Financial comparisons to the prior year were impacted by (i) Southern Company Gas' disposition of: (a) Pivotal Home Solutions on June 4, 2018, (b) Elizabethtown Gas and Elkton Gas on July 1, 2018, and (c) Florida City Gas on July 29, 2018; (ii) the disposition of Southern Power Company’s ownership interest in Plants Oleander and Stanton on December 4, 2018; and (iii) Southern Power Company's sale of (a) a 33% equity interest in a limited partnership indirectly owning substantially all of its solar facilities on May 22, 2018 and (b) a noncontrolling interest in its subsidiary owning eight operating wind facilities on December 11, 2018.