Exhibit 99.02
Southern Company
Financial Highlights
(In Millions of Dollars Except Earnings Per Share)
3 Months Ended December 12 Months Ended December
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2004 2003 2004 2003
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(Notes) (Notes) (Notes) (Notes)
Consolidated Earnings-
(See Notes)
Retail Business $ 122 $ 117 $ 1,200 $ 1,153
Competitive Generation 44 30 220 224
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Total 166 147 1,420 1,377
Synthetic Fuels 14 14 74 58
Leasing Business 1 8 24 29
Parent Company and Other (1) (7) (10) (36)
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Net Income - Excluding One-Time Items (See Notes) $ 180 $ 162 $ 1,508 $ 1,428
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- As Reported $ 204 $ 125 $ 1,532 $ 1,474
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Basic Earnings Per Share-(Notes)
- - Excluding One-Time Items (See Notes) $ 0.24 $ 0.22 $ 2.04 $ 1.97
- - As Reported $ 0.27 $ 0.17 $ 2.07 $ 2.03
Operating Revenues $2,721 $2,520 $11,903 $11,186
Average Shares Outstanding (in millions) 741 733 739 727
End of Period Shares Outstanding (in millions) 741 735
Notes
- - Excludes a one-time after tax gain of $24 million in December 2004 from
the resolution of an IRS audit for the years 2000 and 2001.
- - Excludes a one-time after tax gain of $83 million in May 2003 from the
previously announced termination of all long-term wholesale power
contracts between Southern Company and Dynegy, Inc. as adjusted for
revenues that otherwise would have been recognized for the remainder of
the year.
- - Excludes a regulatory expense of $37 million, after taxes, for
Mississippi Power recorded in December, 2003.
- - 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 audit and
adjustments and certain classifications may be different from final
results published in the Form 10-K.