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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2006 2005 2006 2005
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(Notes) (Notes) (Notes) (Notes)
Consolidated Earnings-As Reported
(See Notes)
Retail Business $ 128 $ 90 $ 1,292 $ 1,251
Competitive Generation 71 62 305 270
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Total 199 152 1,597 1,521
Synthetic Fuels 6 12 12 85
Leasing Business 6 7 22 27
Parent Company and Other (23) (12) (58) (42)
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Net Income - As Reported $ 188 $ 159 $ 1,573 $ 1,591
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Basic Earnings Per Share - (See Notes) $ 0.25 $ 0.21 $ 2.12 $ 2.14
Operating Revenues $3,152 $3,290 $14,356 $13,554
Average Shares Outstanding (in millions) 745 742 743 744
End of Period Shares Outstanding (in millions) 747 742
3 Months Ended December 12 Months Ended December
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2006 2005 2006 2005
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Consolidated Earnings-Excluding Synfuels
(See Notes)
Net Income - As Reported $ 188 $ 159 $ 1,573 $ 1,591
Less: Synthetic Fuels (6) (12) (12) (85)
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Net Income-Excluding Synthetic Fuels $ 182 $ 147 $ 1,561 $ 1,506
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Basic Earnings Per Share-Excluding Synfuels $ 0.25 $ 0.20 $ 2.10 $ 2.03
Notes
- - 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 fourth quarter 2006, diluted earnings per share was less than 1 cent.
For year-to-date 2006, diluted earnings per share was 2 cents. For the fourth
quarter 2005, diluted earnings per share was less than 1 cent. For
year-to-date 2005, diluted earnings per share was 1 cent.
- - Southern Company's synthetic fuel investments did not contribute significantly
to Southern Company's earnings and earnings per share for the three months and
twelve months ended December 31, 2006. Due to higher oil prices in 2006, such
tax credits were partially phased out and one synthetic fuel investment was
terminated.
- - 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.