EXHIBIT 99.02
Southern Company
Financial Highlights
(In Millions of Dollars Except Earnings Per Share)
3 Months Ended September Year-to-Date September
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2006 2005 2006 2005
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(Notes) (Notes) (Notes) (Notes)
Consolidated Earnings-As Reported
(See Notes)
Retail Business $ 650 $ 625 $ 1,165 $ 1,160
Competitive Generation 89 92 233 209
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Total 739 717 1,398 1,369
Synthetic Fuels 4 27 7 72
Leasing Business 5 6 16 20
Parent Company and Other (10) (28) (36) (29)
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Net Income-As Reported $ 738 $ 722 $ 1,385 $ 1,432
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Basic Earnings Per Share-(See Notes) $0.99 $ 0.97 $ 1.86 $ 1.92
Operating Revenues $4,549 $4,358 $11,204 $10,265
Average Shares Outstanding (in millions) 743 743 743 745
End of Period Shares Outstanding (in millions) 743 742
3 Months Ended September Year-to-Date September
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2006 2005 2006 2005
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Consolidated Earnings-Excluding Synfuels
(See Notes)
Net Income - As Reported $ 738 $ 722 $ 1,385 $ 1,432
Less: Synthetic Fuels (4) (27) (7) (72)
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Net Income-Excluding Synthetic Fuels $ 734 $ 695 $ 1,378 $ 1,360
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Basic Earnings Per Share-Excluding Synfuels $ 0.99 $ 0.94 $ 1.86 $ 1.83
Notes
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- - Southern Company GAS completed the sale of substantially all of its assets
on January 4, 2006 and is included in consolidated earnings in all periods
as discontinued operations.
- - For the third quarter and year-to-date 2006, diluted earnings per share are
not more than 1 cent for any period reported above and are not material.
- - As a result of tax credits generated from synthetic fuel production,
Southern Company's synthetic fuel investments contributed significantly to
Southern Company's earnings and earnings per share for the three months and
nine months ended September 30, 2005. Due to higher levels of oil prices,
such tax credits are expected to be partially or completely phased out in
2006.
- - 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-Q.