EX-99.03 4 ex9903-significantfactorsi.htm EXHIBIT Ex. 99.03 - Significant Factors Impacting EPS Q3 2014


Exhibit 99.03
 
Southern Company
Significant Factors Impacting EPS
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
September
 
Year-to-Date
September
 
 
2014
 
2013
 
Change
 
2014
 
2013
 
Change
Consolidated Earnings Per Share–
 
 
 
 
 
 
 
 
 
 
 
 
As Reported (See Notes)
 
$
0.80

 
$
0.97

 
$
(0.17
)
 
$
1.88

 
$
1.41

 
$
0.47

 
 
 
 
 
 
 
 
 
 
 
 
 
  Significant Factors:
 
 
 
 
 
 
 
 
 
 
 
 
  Traditional Operating Companies
 
 
 
 
 
(0.12
)
 
 
 
 
 
0.53

  Southern Power
 
 
 
 
 
(0.03
)
 
 
 
 
 
(0.02
)
  Parent Company and Other
 
 
 
 
 
—

 
 
 
 
 
0.01

  Increase in Shares
 
 
 
 
 
(0.02
)
 
 
 
 
 
(0.05
)
  Total–As Reported
 
 
 
 
 
$
(0.17
)
 
 
 
 
 
$
0.47

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
September
 
Year-to-Date
September
 
 
2014
 
2013
 
Change
 
2014
 
2013
 
Change
Consolidated Earnings Per Share–
 
 
 
 
 
 
 
 
 
 
 
 
Excluding Items (See Notes)
 
$
1.09

 
$
1.08

 
$
0.01

 
$
2.43

 
$
2.24

 
$
0.19

 
 
 
 
 
 
 
 
 
 
 
 
 
  Total–As Reported
 
 
 
 
 
(0.17
)
 
 
 
 
 
0.47

  Estimated Loss on Kemper IGCC
 
 
 
 
 
0.18

 
 
 
 
 
(0.26
)
  Leveraged Lease Restructure
 
 
 
 
 
—

 
 
 
 
 
(0.02
)
  Total–Excluding Items
 


 


 
$
0.01

 
 
 
 
 
$
0.19

 
 
 
 
 
 
 
 
 
 
 
 
 
Notes
 
 
 
 
 
 
 
 
 
 
 
 
- For the three and nine months ended September 30, 2014 and 2013, 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 nine months ended September 30, 2014 and 2013 and any similar charges may occur with uncertain frequency.
 
 
 
 
 
 
 
 
 
 
 
 
 
- The charge related to the restructuring of a leveraged lease investment that was completed on March 1, 2013 impacted the presentation of earnings and earnings per share for the nine months ended September 30, 2013 and similar charges are not expected to occur with any regularity in the future.
 
 
 
 
 
 
 
 
 
 
 
 
 
- 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.