Alabama Power (ALP-PQ) 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
	2013			2012			Change			2013			2012			Change
Income Account-
Retail Revenues-
Fuel	$	1,160		$	1,034		$	126		$	4,990		$	4,743		$	247
Non-Fuel	2,144			2,085			59			9,551			9,444			107
Wholesale Revenues	449			414			35			1,855			1,675			180
Other Electric Revenues	162			157			5			639			616			23
Non-regulated Operating Revenues	12			13			(1		)	52			59			(7		)
Total Revenues	3,927			3,703			224			17,087			16,537			550
Fuel and Purchased Power	1,388			1,239			149			5,971			5,601			370
Non-fuel O & M	1,008			974			34			3,857			3,791			66
MC Asset Recovery Insurance Settlement	(11		)	—			(11		)	(11		)	(19		)	8
Depreciation and Amortization	479			452			27			1,901			1,787			114
Taxes Other Than Income Taxes	224			224			—			934			914			20
Estimated Loss on Kemper IGCC	40			—			40			1,180			—			1,180
Total Operating Expenses	3,128			2,889			239			13,832			12,074			1,758
Operating Income	799			814			(15		)	3,255			4,463			(1,208		)
Allowance for Equity Funds Used During Construction	51			41			10			190			143			47
Leveraged Lease Income (Loss)	6			5			1			(5		)	21			(26		)
Interest Income	5			6			(1		)	19			40			(21		)
Interest Expense, Net of Amounts Capitalized	196			210			(14		)	824			859			(35		)
Other Income (Expense), net	(42		)	(21		)	(21		)	(76		)	(59		)	(17		)
Income Taxes	192			236			(44		)	849			1,334			(485		)
Net Income	431			399			32			1,710			2,415			(705		)
Dividends on Preferred and Preference Stock of Subsidiaries	17			16			1			66			65			1
NET INCOME AFTER DIVIDENDS ON PREFERRED AND PREFERENCE STOCK	$	414		$	383		$	31		$	1,644		$	2,350		$	(706	)
Notes
- Certain prior year data has been reclassified to conform with current year presentation.
- 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-K.