EX-99.02 3 ex99-02.htm ex99-02.htm
Exhibit 99.02

Southern Company
Financial Highlights
 (In Millions of Dollars Except Earnings Per Share)

 
 Three Months Ended September
  
 Year-to-Date September
   
2010
    
2009
    
2010
    
2009
Consolidated Earnings–As Reported
                      
(See Notes)
                      
Traditional Operating Companies
 $
756
  
 $
726
  
 $
1,713
  
 $
1,449
Southern Power
  
62
    
67
    
106
    
126
Total
  
818
    
793
    
1,819
    
1,575
Parent Company and Other
  
(1)
    
(3)
    
3
    
(181)
Net Income–As Reported
 $
817
  
 $
790
  
 $
1,822
  
 $
1,394
                       
Basic Earnings Per Share -
 $
0.98
  
 $
0.99
  
 $
2.20
  
 $
1.77
                       
                       
Average Shares Outstanding (in millions)
  
836
    
798
    
829
    
790
End of Period Shares Outstanding (in millions)
              
               839
    
               801
                       
                       
 
 Three Months Ended September
  
 Year-to-Date September
   
2010
    
2009
    
2010
    
2009
Consolidated Earnings–Excluding Items
                      
(See Notes)
                      
Net Income–As Reported
 $
817
  
 $
790
  
 $
1,822
  
 $
1,394
MC Asset Recovery Litigation Settlement
  
                  -
    
                     -
    
                  -
    
               202
Net Income–Excluding Items
 $
817
  
 $
790
  
 $
1,822
  
 $
1,596
                       
Basic Earnings Per Share–Excluding Items
 $
0.98
  
 $
0.99
  
 $
2.20
  
 $
2.02
 
Notes
-  For the three months and nine months ended September 30, 2010 and 2009, dilution does not change basic earnings per share by more than 1 cent and is not material.
 
-  The charge related to Southern Company's MC Asset Recovery litigation settlement significantly impacted the presentation of earnings and earnings per share
for the nine months ended September 30, 2009, and significant charges related to the Mirant spin-off are not expected to occur in the future.
 
-  Certain prior year data has been reclassified to conform with current year presentation.
 
-  Information contained in this report is subject to audit and adjustments.  Certain classifications may be different from final results published in the Form 10-Q.