EXHIBIT 99.03
Southern Company
Significant Factors Impacting EPS
| 3 Months Ended June |
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| Year-to-Date June |
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| 2007 |
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| 2006 |
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| 2007 |
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| 2006 |
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Consolidated Earnings–As Reported | $ | 0.57 |
| $ | 0.52 | $ | 0.05 |
| $ | 1.02 |
| $ | 0.87 | $ | 0.15 |
(See Notes) |
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Significant Factors: |
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Traditional Operating Companies |
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| 0.03 |
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| 0.09 |
Southern Power |
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| 0.01 |
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| 0.03 |
Synthetic Fuels |
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| 0.02 |
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| 0.05 |
Leasing |
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| 0.00 |
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| (0.02) |
Parent Company and Other |
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| 0.00 |
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| 0.01 |
Additional Shares |
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| (0.01) |
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| (0.01) |
Total–As Reported |
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| 0.05 |
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| 0.15 |
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| 3 Months Ended June |
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| Year-to-Date June |
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| 2007 |
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| 2006 |
| Change |
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| 2007 |
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| 2006 |
| Change |
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Consolidated Earnings–Excluding Synfuels | $ | 0.55 |
| $ | 0.52 | $ | 0.03 |
| $ | 0.97 |
| $ | 0.87 | $ | 0.10 |
(See Notes) |
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Total–As Reported |
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| 0.57 |
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| 1.02 |
Less: Synthetic Fuels |
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| (0.02) |
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| (0.05) |
Total–Excluding Synthetic Fuels |
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| $ | 0.55 |
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| $ | 0.97 |
Notes
- For the second quarter and year-to-date 2007, diluted earnings per share was 1 cent per share.
- Tax credits associated with Southern Company's synthetic fuel investments expire on December 31, 2007 and will not contribute to Southern Company's earnings and earnings per share after 2007.
- Certain prior year data has been reclassified to conform with current year presentation.
- Information contained in this report is subject to audit and adjustments. Certain classifications may be different from final results published in the Form 10-Q.
