Exhibit 99.02
SOUTHERN COMPANY
FINANCIAL HIGHLIGHTS
(In Millions of Dollars Except Earnings Per Share)
3 Months Ended June 6 Months Ended June
------------------------- -------------------------
2003 2002 2003 2002
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(Notes) (Notes) (Notes) (Notes)
Consolidated Earnings-
Southern Company
Regulated Retail Business $ 275 $ 294 $ 500 $ 493
Competitive Generation 61 44 118 73
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Total 336 338 618 566
Synthetic Fuels 19 8 28 14
Products and Services 4 (1) 17 2
Leasing Business 7 4 14 10
Parent Company and Other (17) (17) (30) (36)
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Net Income - Excluding Dynegy (See Notes) $ 349 $ 332 $ 647 $ 556
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- As Reported $ 432 $ 332 $ 730 $ 556
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Basic Earnings Per Share-(Notes)
- - Excluding Dynegy (See Notes) $ 0.49 $ 0.47 $ 0.90 $ 0.79
- - As Reported $ 0.60 $ 0.47 $ 1.01 $ 0.79
Operating Revenues $ 2,859 $ 2,630 $ 5,412 $ 4,844
Average Shares Outstanding (in millions) 724 706 722 704
End of Period Shares Outstanding (in millions) 728 708
Notes
- - Excludes a one-time gain of $88 million in May 2003 from the previously
announced termination of all long-term wholesale power contracts between
Southern Company and Dynegy, Inc. After adjusting for revenues that
otherwise would have been recognized for the remainder of the year, the
adjusted gain for 2003 is $83 million.
- - Diluted earnings per share are not more than 1 cent for any period reported
above and are not material.
- - Certain prior year data has been reclassified to conform with current year
presentation.
- - Information contained in this report is subject to review and adjustments
and certain classifications may be different from final results published
in the Form 10-Q.