Gulf Power (GLFPN) 8-K Results of Operations and Financial Condition

Exhibit 99.07
Southern Company
Financial Overview
As Reported
(In Millions of Dollars)
	Three Months Ended September							Year-to-Date September
	2013			2012		% Change		2013			2012		% Change
Consolidated –
Operating Revenues	$	5,017		$	5,049	(0.6	)%	$	13,160		$	12,834	2.5	%
Earnings Before Income Taxes	1,337			1,562		(14.4	)%	1,936			3,114		(37.8	)%
Net Income Available to Common	852			976		(12.7	)%	1,230			1,967		(37.5	)%
Alabama Power –
Operating Revenues	$	1,604		$	1,637	(2.0	)%	$	4,304		$	4,230	1.7	%
Earnings Before Income Taxes	442			474		(6.8	)%	992			1,015		(2.3	)%
Net Income Available to Common	258			280		(7.9	)%	572			591		(3.2	)%
Georgia Power –
Operating Revenues	$	2,484		$	2,498	(0.6	)%	$	6,408		$	6,263	2.3	%
Earnings Before Income Taxes	790			843		(6.3	)%	1,579			1,558		1.3	%
Net Income Available to Common	487			525		(7.2	)%	966			987		(2.1	)%
Gulf Power –
Operating Revenues	$	399		$	422	(5.3	)%	$	1,097		$	1,108	(1.0	)%
Earnings Before Income Taxes	75			80		(5.7	)%	168			172		(2.7	)%
Net Income Available to Common	45			48		(6.3	)%	99			103		(4.1	)%
Mississippi Power –
Operating Revenues	$	325		$	305	6.5	%	$	878		$	800	9.7	%
Earnings Before Income Taxes	(56		)	77		N/M		(843		)	159		N/M
Net Income Available to Common	(24		)	55		N/M		(490		)	115		N/M
Southern Power –
Operating Revenues	$	365		$	355	2.8	%	$	975		$	894	9.0	%
Earnings Before Income Taxes	103			102		1.2	%	180			220		(18.4	)%
Net Income Available to Common	85			68		24.5	%	142			144		(1.4	)%
N/M - not meaningful
Notes
- Mississippi Power Company restated its 2012 financial statements to reflect a pre-tax charge to income for the estimated probable loss on Kemper IGCC of $78 million ($48 million after tax) in 2012. Southern Company evaluated the portion of the estimated probable loss related to 2012 and concluded it was not material to Southern Company. Therefore, Southern Company reflected the pre-tax charge to income for this portion of the estimated probable loss related to 2012 in the first quarter 2013.
- 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-Q.