Exhibit 99.02
Southern Company
Financial Highlights
(In Millions of Dollars Except Earnings Per Share)
3 Months Ended September 9 Months Ended September
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2004 2003 2004 2003
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(Notes) (Notes) (Notes) (Notes)
Consolidated Earnings-
(See Notes)
Retail Business $ 555 $ 525 $1,081 $1,036
Competitive Generation 74 78 177 194
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Total 629 603 1,258 1,230
Synthetic Fuels 20 14 62 42
Leasing Business 9 7 23 21
Parent Company and Other (13) (5) (15) (27)
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Net Income - Excluding One-Time Items (See Notes)$ 645 $ 619 $1,328 $1,266
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- As Reported $ 645 $ 619 $1,328 $1,349
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Basic Earnings Per Share-(Notes)
- - Excluding One-Time Items (See Notes) $ 0.87 $ 0.85 $ 1.80 $ 1.75
- - As Reported $ 0.87 $ 0.85 $ 1.80 $ 1.86
Operating Revenues $3,441 $3,301 $9,182 $8,666
Average Shares Outstanding (in millions) 739 730 738 724
End of Period Shares Outstanding (in millions) 740 731
Notes
- -Excludes a one-time after tax 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.
- -Quarterly Earnings Per Share (EPS) is computed by using the current
year-to-date EPS less the previous period year-to-date EPS. As a result
of using rounded numbers, the EPS for significant factors may not
directly correspond to the variance in millions of dollars shown above.
- -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.