SOUTHERN Co GAS (GAS) 8-K Results of Operations and Financial Condition

Exhibit 99.05
Southern Company
Consolidated Earnings As Reported
(In Millions of Dollars)
	Three Months Ended December									Year-to-Date December
	2016			2015			Change			2016			2015			Change
Income Account-
Retail Electric Revenues-
Fuel	$	952		$	786		$	166		$	4,121		$	4,437		$	(316	)
Non-Fuel	2,350			2,243			107			11,113			10,550			563
Wholesale Electric Revenues	471			363			108			1,926			1,798			128
Other Electric Revenues	169			163			6			698			657			41
Natural Gas Revenues	1,078			—			1,078			1,596			—			1,596
Other Revenues	161			13			148			442			47			395
Total Revenues	5,181			3,568			1,613			19,896			17,489			2,407
Fuel and Purchased Power	1,196			956			240			5,111			5,395			(284		)
Cost of Natural Gas	480			—			480			613			—			613
Cost of Other Sales	99			—			99			260			—			260
Non-Fuel O & M	1,624			1,096			528			5,240			4,416			824
Depreciation and Amortization	697			519			178			2,502			2,034			468
Taxes Other Than Income Taxes	292			236			56			1,113			997			116
Estimated Loss on Kemper IGCC	206			183			23			428			365			63
Total Operating Expenses	4,594			2,990			1,604			15,267			13,207			2,060
Operating Income	587			578			9			4,629			4,282			347
Allowance for Equity Funds Used During Construction	52			63			(11		)	202			226			(24		)
Earnings from equity method investments	31			—			31			59			—			59
Interest Expense, Net of Amounts Capitalized	404			228			176			1,317			840			477
Other Income (Expense), net	(27		)	(12		)	(15		)	(93		)	(39		)	(54		)
Income Taxes	34			118			(84		)	951			1,194			(243		)
Net Income	205			283			(78		)	2,529			2,435			94
Less:
Dividends on Preferred and Preference Stock of Subsidiaries	11			12			(1		)	45			54			(9		)
Net Income Attributable to Noncontrolling Interests	(3		)	—			(3		)	36			14			22
NET INCOME ATTRIBUTABLE TO SOUTHERN COMPANY	$	197		$	271		$	(74	)	$	2,448		$	2,367		$	81
Notes
- Certain prior year data may have been reclassified to conform with current year presentation.
- 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 $25 million for January 1, 2016 through September 30, 2016.