Attached files
| file | filename |
|---|---|
| 8-K - 8-K - SOUTHERN CO | a8-kearningsreleaseq22013.htm |
| EX-99.01 - EXHIBIT - SOUTHERN CO | ex9901-pressreleaseq22013.htm |
| EX-99.03 - EXHIBIT - SOUTHERN CO | ex9903-significantfactorsi.htm |
| EX-99.05 - EXHIBIT - SOUTHERN CO | ex9905-consolidatedearning.htm |
| EX-99.06 - EXHIBIT - SOUTHERN CO | ex9906-kilowattxhoursalesq.htm |
| EX-99.04 - EXHIBIT - SOUTHERN CO | ex9904-epsearningsanalysis.htm |
| EX-99.07 - EXHIBIT - SOUTHERN CO | ex9907-financialoverviewq2.htm |
Exhibit 99.02 | ||||||||||||||||
Southern Company | ||||||||||||||||
Financial Highlights | ||||||||||||||||
(In Millions of Dollars Except Earnings Per Share) | ||||||||||||||||
Three Months Ended June | Year-to-Date June | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Consolidated Earnings–As Reported | ||||||||||||||||
(See Notes) | ||||||||||||||||
Traditional Operating Companies | $ | 268 | $ | 549 | $ | 334 | $ | 889 | ||||||||
Southern Power | 28 | 47 | 57 | 76 | ||||||||||||
Total | 296 | 596 | 391 | 965 | ||||||||||||
Parent Company and Other | 1 | 27 | (13 | ) | 26 | |||||||||||
Net Income–As Reported | $ | 297 | $ | 623 | $ | 378 | $ | 991 | ||||||||
Basic Earnings Per Share | $ | 0.34 | $ | 0.71 | $ | 0.43 | $ | 1.14 | ||||||||
Average Shares Outstanding (in millions) | 874 | 872 | 872 | 870 | ||||||||||||
End of Period Shares Outstanding (in millions) | 874 | 875 | ||||||||||||||
Three Months Ended June | Year-to-Date June | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Consolidated Earnings–Excluding Items | ||||||||||||||||
(See Notes) | ||||||||||||||||
Net Income–As Reported | $ | 297 | $ | 623 | $ | 378 | $ | 991 | ||||||||
Estimated Loss on Kemper IGCC | 278 | — | 611 | — | ||||||||||||
Leveraged Lease Restructure | — | — | 16 | — | ||||||||||||
MC Asset Recovery Insurance Settlement, net | — | (21 | ) | — | (21 | ) | ||||||||||
Net Income–Excluding Items | $ | 575 | $ | 602 | $ | 1,005 | $ | 970 | ||||||||
Basic Earnings Per Share–Excluding Items | $ | 0.66 | $ | 0.69 | $ | 1.15 | $ | 1.12 | ||||||||
Notes | ||||||||||||||||
- For the three and six months ended June 30, 2013 and 2012, dilution does not change basic earnings per share by more than 1 cent and is not material. | ||||||||||||||||
- The estimated probable losses relating to Mississippi Power Company's construction of the integrated coal gasification combined cycle facility in Kemper County, Mississippi (Kemper IGCC) significantly impacted the presentation of earnings and earnings per share for the three and six months ended June 30, 2013 and similar charges are not expected to occur with any regularity in the future, although it is possible such charges could recur. | ||||||||||||||||
-The charge related to the restructuring of a leveraged lease investment that was completed on March 1, 2013 impacted the presentation of earnings and earnings per share for the six months ended June 30, 2013 and similar charges are not expected to occur with any regularity in the future, although it is possible such charges could recur. | ||||||||||||||||
- Earnings for the three and six months ended June 30, 2012 include an insurance settlement related to the March 2009 litigation settlement with MC Asset Recovery, LLC and similar insurance recoveries are not expected to occur with any regularity in the future. | ||||||||||||||||
- Certain prior year data has been reclassified to conform with current year presentation. | ||||||||||||||||
- All figures in this earnings release are preliminary and remain subject to the completion of normal quarter-end accounting procedures and adjustments, which could result in changes to these preliminary results. In addition, certain classifications and rounding may be different from final results published in the Form 10-Q. | ||||||||||||||||