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

Exhibit 99.05
Southern Company
Consolidated Earnings
As Reported
(In Millions of Dollars)
	Three Months Ended December						Year-to-Date December
	2020		2019		Change		2020		2019		Change
Income Account-
Retail Electric Revenues-
Fuel	$	786	$	784	$	2	$	3,087	$	3,591	$	(504)
Non-Fuel	2,354		2,164		190		10,556		10,493		63
Wholesale Electric Revenues	472		485		(13)		1,945		2,152		(207)
Other Electric Revenues	188		144		44		672		636		36
Natural Gas Revenues	1,072		1,131		(59)		3,434		3,792		(358)
Other Revenues	245		206		39		681		755		(74)
Total Revenues	5,117		4,914		203		20,375		21,419		(1,044)
Fuel and Purchased Power	965		977		(12)		3,766		4,438		(672)
Cost of Natural Gas	318		363		(45)		972		1,319		(347)
Cost of Other Sales	126		119		7		327		435		(108)
Non-Fuel O&M	1,628		1,726		(98)		5,413		5,624		(211)
Depreciation and Amortization	899		771		128		3,518		3,038		480
Taxes Other Than Income Taxes	302		299		3		1,234		1,230		4
Estimated Loss on Plant Vogtle Units 3 and 4	176		—		176		325		—		325
Impairment Charges	—		26		(26)		—		168		(168)
(Gain) Loss on Dispositions, net	(26)		(57)		31		(65)		(2,569)		2,504
Total Operating Expenses	4,388		4,224		164		15,490		13,683		1,807
Operating Income	729		690		39		4,885		7,736		(2,851)
Allowance for Equity Funds Used During Construction	43		32		11		149		128		21
Earnings from Equity Method Investments	48		42		6		153		162		(9)
Interest Expense, Net of Amounts Capitalized	478		442		36		1,821		1,736		85
Impairment of Leveraged Lease	52		—		52		206		—		206
Other Income (Expense), net	17		13		4		336		252		84
Income Taxes	(50)		(74)		24		393		1,798		(1,405)
Net Income	357		409		(52)		3,103		4,744		(1,641)
Less:
Dividends on Preferred Stock of Subsidiaries	4		5		(1)		15		15		—
Net Income (Loss) Attributable to Noncontrolling Interests	(34)		(36)		2		(31)		(10)		(21)
NET INCOME ATTRIBUTABLE TO SOUTHERN COMPANY	$	387	$	440	$	(53)	$	3,119	$	4,739	$	(1,620)

Notes

- Certain prior year data may have been reclassified to conform with current year presentation.