EXHIBIT 99.03
Southern Company
Significant Factors Impacting EPS
3 Months Ended September Year-to-Date September
--------------------------- --------------------------
2007 2006 Change 2007 2006 Change
---- ---- ------ ---- ---- ------
Consolidated Earnings-As Reported $1.00 $0.99 $0.01 $2.03 $1.86 $0.17
(See Notes)
Significant Factors:
- --------------------
Traditional Operating Companies 0.03 0.12
Southern Power 0.01 0.04
Synthetic Fuels 0.01 0.07
Leasing (0.01) (0.01)
Parent Company and Other (0.01) (0.02)
Additional Shares (0.02) (0.03)
----- -----
Total-As Reported $0.01 $0.17
===== =====
3 Months Ended September Year-to-Date September
--------------------------- --------------------------
2007 2006 Change 2007 2006 Change
---- ---- ------ ---- ---- ------
Consolidated Earnings-Excluding Synfuels $0.99 $0.99 $0.00 $1.96 $1.86 $0.10
(See Notes)
Total-As Reported 1.00 2.03
Less: Synthetic Fuels (0.01) (0.07)
----- -----
Total-Excluding Synthetic Fuels $0.99 $1.96
===== =====
Notes
- -----
- - For the third quarter and year-to-date 2007, diluted earnings per share was
not more than 1 cent per share.
- - Tax credits associated with Southern Company's synthetic fuel investments
expire December 31, 2007 and will not contribute to Southern Company's
earnings and earnings per share after 2007.
- - Certain prior year data has been reclassified to conform with current year
presentation.
- - Information contained in this report is subject to audit and adjustments.
Certain classifications may be different from final results published in
the Form 10-Q.