EX-99.02 3 x99_2.txt Exhibit 99.02 Southern Company Financial Highlights (In Millions of Dollars Except Earnings Per Share)
3 Months Ended June 6 Months Ended June ------------------------ -------------------------- 2004 2003 2004 2003 ---- ---- ---- ---- (Notes) (Notes) (Notes) (Notes) Consolidated Earnings- (See Notes) Retail Business $ 285 $ 281 $ 528 $ 511 Competitive Generation 46 61 102 116 ----- ----- ----- ----- Total 331 342 630 627 Synthetic Fuels 21 19 42 28 Leasing Business 7 7 14 14 Parent Company and Other (7) (19) (3) (22) ----- ----- ----- ----- Net Income - Excluding One-Time Items (See Notes) $ 352 $ 349 $ 683 $ 647 ===== ===== ===== ===== - As Reported $ 352 $ 432 $ 683 $ 730 ===== ===== ===== ===== Basic Earnings Per Share-(See Notes) - Excluding One-Time Items (See Notes) $ 0.48 $ 0.49 $ 0.93 $ 0.90 - As Reported $ 0.48 $ 0.60 $ 0.93 $ 1.01 Operating Revenues $3,010 $ 2,824 $ 5,742 $ 5,365 Average Shares Outstanding (in millions) 738 725 737 722 End of Period Shares Outstanding (in millions) 738 728
Notes - Excludes a one-time after tax gain of $88 million in May 2003 from the termination of all long-term wholesale power contracts between Southern Company and Dynegy, Inc. After adjusting for revenues that otherwise would have been recognized for the remainder of the year, the adjusted gain for 2003 was $83 million. - 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 review and adjustments and certain classifications may be different from final results published in the Form 10-Q.