The Southern Company (SO) 8-K Results of Operations and Financial Condition

Exhibit 99.04

Southern Company

EPS Earnings Analysis

Three Months Ended March 2012

Cents	Description
5¢	Retail Revenue Impacts
(8)	Weather
(1)	Non-Fuel O&M
(2)	Depreciation & Amortization
(6)¢	Total Traditional Operating Companies
(1)	Southern Power
(1)	Increase in Shares
(8)¢	Total Change in YTD EPS

Notes
-	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-Q.