Exhibit 99.06
Southern Company
Financial Overview
(In Millions of Dollars)
3 Months Ended December 12 Months Ended December
------------------------------ -----------------------------------
2004 2003 % Change 2004 2003 % Change
---- ---- -------- ---- ---- --------
Consolidated -
Operating Revenues $2,721 $2,520 8.0% $11,903 $11,186 6.4%
Earnings Before Income Taxes 202 151 33.9% 2,118 2,086 1.5%
Net Income As Reported (See Note) 204 125 63.6% 1,532 1,474 4.0%
Alabama Power -
Operating Revenues $971 $904 7.5% $4,236 $3,960 7.0%
Earnings Before Income Taxes 117 102 13.5% 818 781 4.6%
Net Income Available to Common 66 58 14.7% 481 473 1.8%
Georgia Power -
Operating Revenues $1,238 $1,111 11.5% $5,372 $4,914 9.3%
Earnings Before Income Taxes 106 122 -13.0% 1,038 998 4.0%
Net Income Available to Common 71 74 -3.7% 658 631 4.3%
Gulf Power -
Operating Revenues $235 $212 10.8% $960 $878 9.4%
Earnings Before Income Taxes 1 4 -76.8% 108 110 -1.8%
Net Income Available to Common 0 3 -86.1% 68 69 -1.1%
Mississippi Power -
Operating Revenues $210 $184 14.1% $911 $870 4.7%
Earnings Before Income Taxes 5 (58) - 131 121 8.1%
Net Income Available to Common (See Note) 2 (36) - 77 73 4.5%
Savannah Electric -
Operating Revenues $85 $68 25.6% $355 $314 13.2%
Earnings Before Income Taxes 3 (1) - 40 38 4.6%
Net Income Available to Common 2 (1) - 24 23 5.1%
Southern Power -
Operating Revenues $154 $128 20.9% $701 $682 2.9%
Earnings Before Income Taxes 43 20 106.2% 185 240 -23.1%
Net Income Available to Common (See Note) 25 12 95.2% 112 155 -28.1%
Notes
- - Includes 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.
- - Includes a one-time after tax gain of $83 million in May 2003 from the
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.
- - Includes a regulatory expense of $37 million, after taxes, for
Mississippi Power recorded in December, 2003.
- - 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.