| Exhibit 99.03 |
| Southern Company |
| Significant Factors Impacting EPS |
| Three Months Ended December | Year-to-Date December | |||||||||||
| 2011 | 2010 | Change | 2011 | 2010 | Change | |||||||
| Consolidated Earnings Per Share– | ||||||||||||
| As Reported (See Notes) | $0.30 | $0.18 | $0.12 | $2.57 | $2.37 | $0.20 | ||||||
| Significant Factors: | ||||||||||||
| Traditional Operating Companies | 0.12 | 0.23 | ||||||||||
| Southern Power | - | 0.04 | ||||||||||
| Parent Company and Other | 0.01 | 0.01 | ||||||||||
| Additional Shares | (0.01) | (0.08) | ||||||||||
| Total–As Reported | $0.12 | $0.20 | ||||||||||
| Notes |
| - For the three months and twelve months ended December 31, 2011 and 2010, dilution does not change basic earnings per share by more than 2 cents and is not material. |
| - 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 and rounding may be different from final results published in the Form 10-K. |