EX-99.07 8 ex9907-financialoverviewq2.htm EXHIBIT 99.07 Exhibit





Exhibit 99.07
 
Southern Company
Financial Overview As Reported
(In Millions of Dollars)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended June
 
Year-to-Date June
 
 
2017
 
2016
 
% Change
 
2017
 
2016
 
% Change
Southern Company –
 
 
 
 
 
 
 
 
 
 
 
 
Operating Revenues
 
$
5,430

 
$
4,459

 
21.8
 %
 
$
11,202

 
$
8,451

 
32.6
 %
Earnings (Loss) Before Income Taxes
 
(1,935
)
 
908

 
N/M

 
(957
)
 
1,627

 
N/M

Net Income (Loss) Available to Common
 
(1,381
)
 
623

 
N/M

 
(723
)
 
1,112

 
N/M

 
 
 
 
 
 
 
 
 
 
 
 
 
Alabama Power –
 
 
 
 
 
 
 
 
 
 
 
 
Operating Revenues
 
$
1,484

 
$
1,444

 
2.8
 %
 
$
2,866

 
$
2,776

 
3.2
 %
Earnings Before Income Taxes
 
386

 
358

 
7.8
 %
 
689

 
621

 
11.0
 %
Net Income Available to Common
 
230

 
213

 
8.0
 %
 
403

 
370

 
8.9
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
Georgia Power –
 
 
 
 
 
 
 
 
 
 
 
 
Operating Revenues
 
$
2,048

 
$
2,051

 
(0.1
)%
 
$
3,880

 
$
3,923

 
(1.1
)%
Earnings Before Income Taxes
 
551

 
565

 
(2.5
)%
 
971

 
998

 
(2.7
)%
Net Income Available to Common
 
347

 
349

 
(0.6
)%
 
607

 
618

 
(1.8
)%
 
 
 
 
 
 
 
 
 
 
 
 
 
Gulf Power –
 
 
 
 
 
 
 
 
 
 
 
 
Operating Revenues
 
$
357

 
$
365

 
(2.2
)%
 
$
707

 
$
700

 
1.0
 %
Earnings Before Income Taxes
 
61

 
61

 
—
 %
 
95

 
112

 
(15.2
)%
Net Income Available to Common
 
35

 
34

 
2.9
 %
 
53

 
63

 
(15.9
)%
 
 
 
 
 
 
 
 
 
 
 
 
 
Mississippi Power –
 
 
 
 
 
 
 
 
 
 
 
 
Operating Revenues
 
$
303

 
$
277

 
9.4
 %
 
$
575

 
$
533

 
7.9
 %
Earnings (Loss) Before Income Taxes
 
(2,934
)
 
(14
)
 
N/M

 
(2,981
)
 
(13
)
 
N/M

Net Income (Loss) Available to Common
 
(2,054
)
 
2

 
N/M

 
(2,074
)
 
13

 
N/M

 
 
 
 
 
 
 
 
 
 
 
 
 
Southern Power –
 
 
 
 
 
 
 
 
 
 
 
 
Operating Revenues
 
$
529

 
$
373

 
41.8
 %
 
$
979

 
$
688

 
42.3
 %
Earnings Before Income Taxes
 
66

 
60

 
10.0
 %
 
78

 
87

 
(10.3
)%
Net Income Available to Common
 
82

 
89

 
(7.9
)%
 
151

 
139

 
8.6
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
Southern Company Gas1 –
 
 
 
 
 
 
 
 
 
 
 
 
Operating Revenues
 
$
716

 
$
—

 
N/A

 
$
2,276

 
$
—

 
N/A

Earnings Before Income Taxes
 
80

 
—

 
N/A

 
468

 
—

 
N/A

Net Income Available to Common
 
49

 
—

 
N/A

 
288

 
—

 
N/A

 
 
 
 
 
 
 
 
 
 
 
 
 
N/M - not meaningful
 
 
 
 
 
 
 
 
 
 
 
 
N/A - not applicable
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Notes
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
- In connection with the adoption in the fourth quarter 2016 of a new accounting standard for stock compensation, previously reported amounts for income tax expense were reduced by a total of $11.3 million and $15.8 million for the three and six months ended June 30, 2016, respectively.
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) On July 1, 2016, Southern Company completed the acquisition of Southern Company Gas.