Exhibit 99.02 | |||||||||||||||||||||||||||||||
Southern Company | |||||||||||||||||||||||||||||||
Financial Highlights | |||||||||||||||||||||||||||||||
(In Millions of Dollars Except Earnings Per Share) | |||||||||||||||||||||||||||||||
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| 3 Months Ended June |
| Year-to-Date June |
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| 2008 |
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| 2007 |
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| 2008 |
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| 2007 |
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Consolidated Earnings–As Reported |
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(See Notes) |
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Traditional Operating Companies |
| $ | 452 |
| $ | 383 |
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| $ | 794 |
| $ | 668 |
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Southern Power |
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| 35 |
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| 40 |
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| 64 |
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| 72 |
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Total |
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| 487 |
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| 423 |
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| 858 |
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| 740 |
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Synthetic Fuels |
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| 1 |
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| 12 |
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| (1) |
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| 41 |
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Parent Company and Other |
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| (72) |
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| (6) |
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| (81) |
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| (13) |
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Net Income - As Reported |
| $ | 416 |
| $ | 429 |
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| $ | 776 |
| $ | 768 |
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Basic Earnings Per Share - (See Notes) | $ | 0.54 |
| $ | 0.57 |
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| $ | 1.01 |
| $ | 1.02 |
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Average Shares Outstanding (in millions) | 769 |
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| 755 |
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| 768 |
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| 753 |
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End of Period Shares Outstanding (in millions) |
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| 771 |
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| 757 |
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| 3 Months Ended June |
| Year-to-Date June |
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| 2008 |
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| 2007 |
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| 2008 |
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| 2007 |
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Consolidated Earnings–Excluding Items |
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(See Notes) |
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Net Income - As Reported |
| $ | 416 |
| $ | 429 |
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| $ | 776 |
| $ | 768 |
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Leveraged Lease Adjustment |
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| 67 |
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| - |
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| 67 |
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| - |
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Synthetic Fuels |
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| (1) |
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| (12) |
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| 1 |
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| (41) |
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Net Income–Excluding Items |
| $ | 482 |
| $ | 417 |
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| $ | 844 |
| $ | 727 |
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Basic Earnings Per Share–Excluding Items | $ | 0.63 |
| $ | 0.55 |
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| $ | 1.10 |
| $ | 0.97 |
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Notes
- | For the 3 months and 6 months ended June 2008 and 2007, diluted earnings per share are not more than 1 cent per share and are not material. |
- | The charge related to Southern Company's investments in leveraged lease transactions significantly impacted the presentation of earnings and earnings per share for the three months and six months ended June 30, 2008, and significant charges related to these investments are not expected to occur on a regular basis. |
- | Tax credits associated with Southern Company's synthetic fuel investments expired December 31, 2007. Synthetic fuel related income no longer materially contributes to Southern Company's earnings or earnings per share. |
- | 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. |