Southern Company earnings benefit from operating efficiencies

Wed Jan 30, 2013 7:30am EST

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ATLANTA,  Jan. 30, 2013  /PRNewswire/ -- Southern Company today reported fourth
quarter 2012 earnings of  $383 million, or  44 cents  a share, compared with
earnings of  $261 million, or  30 cents  a share, in the fourth quarter of 2011.
Southern Company also reported full-year 2012 earnings of  $2.35 billion, or 
$2.70  a share, compared with earnings for 2011 of  $2.20 billion, or  $2.57  a
share.

Earnings for the full year included  2 cents  a share of insurance recovery
related to the  March 2009  settlement agreement with MC Asset Recovery, LLC
(MCAR) to resolve a lawsuit arising out of the 2003 bankruptcy of Mirant Corp.,
a Southern Company subsidiary until its 2001 spinoff.  Excluding the impact of
the MCAR insurance recovery, Southern Company earned  $2.68  a share in 2012,
compared with  $2.57  a share for 2011. 

Earnings for the fourth quarter of 2012 and the full year were positively
influenced by reduced non-fuel operations and maintenance expenses and by other
retail revenue effects across Southern Company's traditional operating
companies. Full-year 2012 earnings were negatively affected by significantly
milder weather throughout the year as compared with 2011.

"Our employees continue to find ways to make our business more efficient, while
delivering customer service that is among the best in our industry," said 
Thomas A. Fanning, Southern Company chairman, president and chief executive
officer. "Their efforts demonstrate the effectiveness of our business model -
which succeeds by placing customers at the center of everything we do - and
reaffirm our commitment to providing clean, safe, reliable, affordable
electricity."

Fanning said that economic prospects in the Southeast remain bright, but that
expansion and hiring decisions continue to be delayed pending longer-term
congressional action on fiscal issues.  

Operating revenues for the full year were  $16.54 billion, compared with  $17.66
billion  in 2011, a 6.3 percent decrease that was due primarily to lower fuel
costs being passed on to customers. Fourth quarter revenues were  $3.703
billion, compared with  $3.696 billion  for the same period in 2011, an increase
of 0.2 percent.

Kilowatt-hour sales to retail customers in Southern Company's four-state service
area decreased 2.3 percent in 2012, compared with 2011. Residential and
commercial energy sales - both of which were affected by milder weather in 2012
- decreased 5.4 percent and 1.6 percent, respectively, while industrial energy
sales increased 0.2 percent.

Total energy sales to Southern Company's customers in the Southeast, including
wholesale sales, decreased 3.4 percent in 2012 compared with 2011.

Southern Company's financial analyst call will begin at  1 p.m. Eastern time 
today, during which Fanning and Chief Financial Officer  Art P. Beattie  will
discuss earnings and provide a general business update. Investors, media and the
public may listen to a live webcast of the call and view associated slides at 
http://investor.southerncompany.com/events.cfm. A replay of the webcast only
will be available at the site for 12 months.  

Southern Company has also posted on its website detailed financial information
on its fourth quarter and full-year performance. These materials are available
at  www.southerncompany.com.

With 4.4 million customers and more than 43,000 megawatts of generating
capacity,  Atlanta-based Southern Company (NYSE: SO) is the premier energy
company serving the Southeast through its subsidiaries. A leading U.S. producer
of clean, safe, reliable and affordable electricity, Southern Company owns
electric utilities in four states and a growing competitive generation company,
as well as fiber optics and wireless communications. Southern Company brands are
known for energy innovation, excellent customer service, high reliability and
retail electric prices that are below the national average. Southern Company and
its subsidiaries are leading the nation's nuclear renaissance through the
construction of the first new nuclear units to be built in a generation of
Americans and are demonstrating their commitment to energy innovation through
the development of a state-of-the-art coal gasification plant. Southern Company
has been recognized by the U.S. Department of Defense and  G.I. Jobs  magazine
as a top military employer and listed by DiversityInc as a top company for
Blacks. The company received the 2012 Edison Award from the Edison Electric
Institute for its leadership in new nuclear development, was named Electric
Light & Power magazine's Utility of the Year for 2012 and is continually ranked
among the top utilities in Fortune's annual  World's Most Admired Electric and
Gas Utility  rankings. Visit our website at  www.southerncompany.com.

Cautionary Note Regarding Forward-Looking Statements:

Certain information contained in this release is forward-looking information
based on current expectations and plans that involve risks and uncertainties.
Forward-looking information includes, among other things, statements concerning
the economy and customer growth. Southern Company cautions that there are
certain factors that can cause actual results to differ materially from the
forward-looking information that has been provided. The reader is cautioned not
to put undue reliance on this forward-looking information, which is not a
guarantee of future performance and is subject to a number of uncertainties and
other factors, many of which are outside the control of Southern Company;
accordingly, there can be no assurance that such suggested results will be
realized. The following factors, in addition to those discussed in Southern
Company's Annual Report on Form 10-K for the year ended  December 31, 2011, and
subsequent securities filings, could cause actual results to differ materially
from management expectations as suggested by such forward-looking information:
the impact of recent and future federal and state regulatory changes, including
legislative and regulatory initiatives regarding deregulation and restructuring
of the electric utility industry, implementation of the Energy Policy Act of
2005, environmental laws including regulation of water, coal combustion
byproducts, and emissions of sulfur, nitrogen, carbon, soot, particulate matter,
hazardous air pollutants, including mercury, and other substances, financial
reform legislation, and also changes in tax and other laws and regulations to
which Southern Company and its subsidiaries are subject, as well as changes in
application of existing laws and regulations; current and future litigation,
regulatory investigations, proceedings, or inquiries, including the pending
Environmental Protection Agency civil actions against certain Southern Company
subsidiaries, Federal Energy Regulatory Commission matters, and Internal Revenue
Service and state tax audits; the effects, extent, and timing of the entry of
additional competition in the markets in which Southern Company's subsidiaries
operate; variations in demand for electricity, including those relating to
weather, the general economy and recovery from the recent recession, population
and business growth (and declines), the effects of energy conservation measures,
and any potential economic impacts resulting from federal fiscal and budgetary
decisions; available sources and costs of fuels; effects of inflation; ability
to control costs and avoid cost overruns during the development and construction
of facilities, which includes projects involving facility designs that have not
been finalized or previously constructed; investment performance of Southern
Company's employee benefit plans and nuclear decommissioning trust funds;
advances in technology; state and federal rate regulations and the impact of
pending and future rate cases and negotiations, including rate actions relating
to fuel and other cost recovery mechanisms; regulatory approvals and actions
related to the Plant Vogtle expansion, including Georgia Public Service
Commission approvals, Nuclear Regulatory Commission actions, and potential U.S.
Department of Energy loan guarantees; regulatory approvals and actions related
to the Kemper County integrated coal gasification combined cycle facility,
including Mississippi Public Service Commission approvals, the South Mississippi
Electric Power Association purchase decision, satisfaction of requirements to
utilize investment tax credits and grants, and the outcome of any further
proceedings regarding the Mississippi Public Service Commission's issuance of
the certificate of public convenience and necessity; the performance of projects
undertaken by the non-utility businesses and the success of efforts to invest in
and develop new opportunities; internal restructuring or other restructuring
options that may be pursued; potential business strategies, including
acquisitions or dispositions of assets or businesses, which cannot be assured to
be completed or beneficial to Southern Company or its subsidiaries; the ability
of counterparties of Southern Company and its subsidiaries to make payments as
and when due and to perform as required; the ability to obtain new short- and
long-term contracts with wholesale customers; the direct or indirect effect on
the Southern Company system's business resulting from terrorist incidents and
the threat of terrorist incidents, including cyber intrusion; interest rate
fluctuations and financial market conditions and the results of financing
efforts, including Southern Company's and its subsidiaries' credit ratings; the
impacts of any potential U.S. credit rating downgrade or other sovereign
financial issues, including impacts on interest rates, access to capital
markets, impacts on currency exchange rates, counterparty performance, and the
economy in general, as well as potential impacts on the availability or benefits
of proposed U.S. Department of Energy loan guarantees; the ability of Southern
Company and its subsidiaries to obtain additional generating capacity at
competitive prices; catastrophic events such as fires, earthquakes, explosions,
floods, hurricanes, droughts, pandemic health events such as influenzas, or
other similar occurrences; the direct or indirect effects on the Southern
Company system's business resulting from incidents affecting the U.S. electric
grid or operation of generating resources; and the effect of accounting
pronouncements issued periodically by standard setting bodies. Southern Company
expressly disclaims any obligation to update any forward-looking information.

 Southern Company                                                                                                                                 
 Financial Highlights                                                                                                                             
 (In Millions of Dollars Except Earnings Per Share)                                                                                               
                                                                                                                                          
                                                    Three Months Ended                           Year-to-Date                                 
                                                    
December                                    
December                                    
                                                    2012                   2011                2012                    2011               
 Consolidated Earnings-As Reported                                                                                                        
 (See Notes)                                                                                                                              
 Traditional Operating Companies                    $    349             $    248          $    2,146            $    2,052       
 Southern Power                                     31                    24                 175                    162               
 Total                                              380                   272                2,321                  2,214             
 Parent Company and Other                           3                     (11)               29                     (11)              
 Net Income-As Reported                             $    383             $    261          $    2,350            $    2,203       
                                                                                                                                          
 Basic Earnings Per Share                           $    0.44            $    0.30         $    2.70             $    2.57        
                                                                                                                                          
 Average Shares Outstanding  (in millions)          869                   865                871                    857               
 End of Period Shares Outstanding  (in millions)                                               868                    867               
                                                                                                                                          
                                                    Three Months Ended                           Year-to-Date                                 
                                                    
December                                    
December                                    
                                                    2012                   2011                2012                    2011               
 Consolidated Earnings-Excluding Items                                                                                                    
 (See Notes)                                                                                                                              
 Net Income-As Reported                             $    383             $    261          $    2,350            $    2,203       
 MC Asset Recovery Insurance Settlement, net        -                     -                  (21)                   -                 
 Net Income-Excluding Items                         $    383             $    261          $    2,329            $    2,203       
                                                                                                                                          
 Basic Earnings Per Share-Excluding Items           $    0.44            $    0.30         $    2.68             $    2.57        
                                                                                                                                          
                                                                                                                                          
 Notes                                                                                                                                            
 - For the three months and twelve months ended December 31, 2012 and 2011, dilution does not change basic earnings per share by more than 3 cents and is not material. 
                                                                                                                                                  
 - In March 2009, Southern Company recorded a charge related to a settlement agreement with MC Asset Recovery, LLC (MCAR) to settle a lawsuit.  Southern Company filed an insurance claim for a portion of the MCAR settlement amount.  In June 2012, Southern Company received an insurance recovery related to this claim.  Earnings for the twelve months ended December 31, 2012 include 2 cents a share for the MCAR insurance recovery. 
                                                                                                                                                  
 - 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 year-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-K. 


 Southern Company                                                                                                                                                          
 Significant Factors Impacting EPS                                                                                                                                         
                                                                                                                                                                       
                                                                                                                                                                       
                                           Three Months Ended                                             Year-to-Date                                                 
                                           
December                                                      
December                                                    
                                           2012                2011                Change             2012                2011                Change           
 Consolidated Earnings Per Share-                                                                                                                              
 As Reported (See Notes)                   $   0.44           $   0.30           $    0.14         $   2.70           $   2.57           $    0.13       
                                                                                                                                                               
 Significant Factors:                                                                                                                                          
 Traditional Operating Companies                                                   0.12                                                       0.11             
 Southern Power                                                                    0.01                                                       0.02             
 Parent Company and Other                                                          0.01                                                       0.05             
 Additional Shares                                                                 -                                                          (0.05)           
 Total-As Reported                                                                 $    0.14                                                 $    0.13       
                                                                                                                                                               
                                           Three Months Ended                                             Year-to-Date                                                 
                                           
December                                                      
December                                                    
                                           2012                2011                Change             2012                2011                Change           
 Consolidated Earnings Per Share-                                                                                                                              
 Excluding Items (See Notes)               $   0.44           $   0.30           $    0.14         $   2.68           $   2.57           $    0.11       
                                                                                                                                                               
 Total-As Reported                                                                 0.14                                                       0.13             
 MC Asset Recovery Insurance Settlement                                            -                                                          (0.02)           
 Total-Excluding Items                                                             $    0.14                                                 $    0.11       
                                                                                                                                                               
                                                                                                                                                               


 Notes                                                                     
 - For the three months and twelve months ended December 31, 2012 and 2011, dilution does not change basic earnings per share by more than 3 cents and is not material. 
                                                                           
 - In March 2009, Southern Company recorded a charge related to a settlement agreement with MC Asset Recovery, LLC (MCAR) to settle a lawsuit.  Southern Company filed an insurance claim for a portion of the MCAR settlement amount.  In June 2012, Southern Company received an insurance recovery related to this claim.  Earnings for the twelve months ended December 31, 2012 include 2 cents a share for the MCAR insurance recovery. 
                                                                           
 - 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 year-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-K. 


 Southern Company                                                                      
 EPS Earnings Analysis                                                                 
                                                                                       
                                                                                   
 Description                               Three Months Ended      Year-to-Date    
                                           
December 2012          
December 2012  
                                                                                   
 Retail Sales                              3¢                      2¢              
                                                                                   
 Retail Revenue Impacts                    2                       22              
                                                                                   
 Weather                                   1                       (20)            
                                                                                   
 Other Operating Revenues                  1                       -               
                                                                                   
 Non-Fuel O&M                              9                       11              
                                                                                   
 Purchased Power Capacity Expense          1                       5               
                                                                                   
 Depreciation and Amortization             (1)                     (4)             
                                                                                   
 Taxes Other Than Income Taxes             (1)                     (1)             
                                                                                   
 Other Income and Deductions               -                       (1)             
                                                                                   
 Interest Expense                          -                       (2)             
                                                                                   
 Income Taxes                              (3)                     (1)             
                                                                                   
 Total Traditional Operating Companies     12¢                     11¢             
                                                                                   
 Southern Power                            1                       2               
                                                                                   
 Parent and Other                          1                       3               
                                                                                   
 Increase in Shares                        -                       (5)             
                                                                                   
 Total Change in EPS (x-items)             14¢                     11¢             
                                                                                   
 MC Asset Recovery Insurance Settlement    -                       2               
                                                                                   
 Total Change in EPS (As Reported)         14¢                     13¢             
                                                                                   
 Notes                                                                                 
 - In March 2009, Southern Company recorded a charge related to a settlement agreement with MC Asset Recovery, LLC (MCAR) to settle a lawsuit.  Southern Company filed an insurance claim for a portion of the MCAR settlement amount.  In June 2012, Southern Company received an insurance recovery related to this claim.  Earnings for the twelve months ended December 31, 2012 include 2 cents a share for the MCAR insurance recovery. 
                                                                                       
 - All figures in this earnings release are preliminary and remain subject to the completion of normal   year-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-K. 


 Southern Company                                                                                                                                                                                                             
 Consolidated Earnings                                                                                                                                                                                                        
 (In Millions of Dollars)                                                                                                                                                                                                     
                                                                                                                                                                                                                          
                                                                              Three Months Ended                                                    Year-to-Date                                                          
                                                                              
December                                                             
December                                                             
                                                                              2012                  2011                  Change                2012                   2011                   Change              
 Income Account-                                                                                                                                                                                                  
 Retail Revenues-                                                                                                                                                                                                 
 Fuel                                                                         $    1,034          $    1,144          $    (110)          $     4,743          $     5,686          $     (943)       
 Non-Fuel                                                                     2,085                1,996                89                   9,444                 9,385                 59                 
 Wholesale Revenues                                                           414                  392                  22                   1,675                 1,905                 (230)              
 Other Electric Revenues                                                      157                  147                  10                   616                   611                   5                  
 Non-regulated Operating Revenues                                             13                   17                   (4)                  59                    70                    (11)               
 Total Revenues                                                               3,703                3,696                7                    16,537                17,657                (1,120)            
 Fuel and Purchased Power                                                     1,239                1,353                (114)                5,601                 6,870                 (1,269)            
 Non-fuel O & M                                                               974                  1,101                (127)                3,791                 3,938                 (147)              
 MC Asset Recovery Insurance Settlement                                       -                    -                    -                    (19)                  -                     (19)               
 Depreciation and Amortization                                                452                  438                  14                   1,787                 1,717                 70                 
 Taxes Other Than Income Taxes                                                224                  215                  9                    914                   901                   13                 
 Total Operating Expenses                                                     2,889                3,107                (218)                12,074                13,426                (1,352)            
 Operating Income                                                             814                  589                  225                  4,463                 4,231                 232                
 Allowance for Equity Funds Used During Construction                          41                   40                   1                    143                   153                   (10)               
 Interest Income                                                              6                    7                    (1)                  40                    21                    19                 
 Interest Expense, Net of Amounts Capitalized                                 210                  219                  (9)                  859                   857                   2                  
 Other Income (Expense), net                                                  (16)                 (44)                 28                   (38)                  (61)                  23                 
 Income Taxes                                                                 236                  96                   140                  1,334                 1,219                 115                
 Net Income                                                                   399                  277                  122                  2,415                 2,268                 147                
 Dividends on Preferred and Preference Stock of Subsidiaries                  16                   16                   -                    65                    65                    -                  
 NET INCOME AFTER DIVIDENDS ON PREFERRED AND PREFERENCE STOCK (See Notes)     $    383            $    261            $    122            $     2,350          $     2,203          $     147         
                                                                                                                                                                                                                  
                                                                                                                                                                                                                  
 Notes                                                                                                                                                                                                                     
 - 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 year-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-K. 


 Southern Company                                                                                                                                                                                                                                                                                                                                                                                                                         
 Kilowatt-Hour Sales                                                                                                                                                                                                                                                                                                                                                                                                                      
 (In Millions of KWHs)                                                                                                                                                                                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                                                                                                                                                                                           
                                        Three Months Ended December                                                                                                                                                                              Year-to-Date December                                                                                                                                                             
 As Reported                            2012                                             2011                                             Change                                           Weather                                          2012                                             2011                                             Change                                           Weather                     
 
(See Notes)                                                                                                                                                                              Adjusted Change                                                                                                                                                                                     Adjusted Change             
 Kilowatt-Hour Sales-                                                                                                                                                                                                                                                                                                                                                                                                      
 Total Sales                            42,543                                          41,558                                          2.4             %                                                                                183,617                                         190,047                                         (3.4)           %                                                           
                                                                                                                                                                                                                                                                                                                                                                                                                           
 Total Retail Sales-                    36,109                                          35,183                                          2.6             %                               1.7             %                               156,054                                         159,702                                         (2.3)           %                               0.4             %          
 Residential                            11,140                                          10,447                                          6.6             %                               5.2             %                               50,454                                          53,341                                          (5.4)           %                               1.1             %          
 Commercial                             12,273                                          12,183                                          0.7             %                               (0.7)           %                               53,007                                          53,855                                          (1.6)           %                               (0.2)           %          
 Industrial                             12,468                                          12,323                                          1.2             %                               1.2             %                               51,674                                          51,570                                          0.2             %                               0.2             %          
 Other                                  228                                             230                                             (0.7)           %                               (0.8)           %                               919                                             936                                             (1.8)           %                               (1.4)           %          
                                                                                                                                                                                                                                                                                                                                                                                                                           
 Total Wholesale Sales                  6,434                                           6,375                                           0.9             %                               N/A                                              27,563                                          30,345                                          (9.2)           %                               N/A                         
                                                                                                                                                                                                                                                                                                                                                                                                                           
                                                                                                                                                                                                                                                                                                                                                                                                                           
 Notes                                                                                                                                                                                                                                                                                                                                                                                                                     
 - 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 year-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-K.                                                                                                     


 Southern Company                                                                                                                                                                                                                                                                                                                                                                                                                 
 Financial Overview                                                                                                                                                                                                                                                                                                                                                                                                               
 (In Millions of Dollars)                                                                                                                                                                                                                                                                                                                                                                                                         
                                                                                                                                                                                                                                                                                                                                                                                                                       
                                                  Three Months Ended                                                                                                                                                                                 Year-to-Date                                                                                                                                                            
                                                  
December                                                                                                                                                                                          
December                                                                                                                                                               
                                                  2012                                                                  2011                                                                  % Change                                            2012                                                                  2011                                                                  % Change                 
 Consolidated -                                                                                                                                                                                                                                                                                                                                                                                                        
 Operating Revenues                               $                3,703                                              $                3,696                                              0.2              %                                 $                16,537                                             $                17,657                                             (6.3)            %      
 Earnings Before Income Taxes                     635                                                                  373                                                                  70.2             %                                 3,749                                                                3,487                                                                7.5              %      
 Net Income Available to Common                   383                                                                  261                                                                  46.7             %                                 2,350                                                                2,203                                                                6.7              %      
                                                                                                                                                                                                                                                                                                                                                                                                                       
 Alabama Power -                                                                                                                                                                                                                                                                                                                                                                                                       
 Operating Revenues                               $                1,290                                              $                1,271                                              1.5              %                                 $                5,520                                              $                5,702                                              (3.2)            %      
 Earnings Before Income Taxes                     205                                                                  182                                                                  12.6             %                                 1,220                                                                1,225                                                                (0.4)            %      
 Net Income Available to Common                   113                                                                  102                                                                  10.8             %                                 704                                                                  708                                                                  (0.6)            %      
                                                                                                                                                                                                                                                                                                                                                                                                                       
 Georgia Power -                                                                                                                                                                                                                                                                                                                                                                                                       
 Operating Revenues                               $                1,735                                              $                1,758                                              (1.3)            %                                 $                7,998                                              $                8,800                                              (9.1)            %      
 Earnings Before Income Taxes                     315                                                                  156                                                                  101.9            %                                 1,873                                                                1,787                                                                4.8              %      
 Net Income Available to Common                   181                                                                  110                                                                  64.5             %                                 1,168                                                                1,145                                                                2.0              %      
                                                                                                                                                                                                                                                                                                                                                                                                                       
 Gulf Power -                                                                                                                                                                                                                                                                                                                                                                                                          
 Operating Revenues                               $                331                                                $                328                                                1.1              %                                 $                1,440                                              $                1,520                                              (5.3)            %      
 Earnings Before Income Taxes                     39                                                                   29                                                                   34.4             %                                 211                                                                  173                                                                  22.5             %      
 Net Income Available to Common                   23                                                                   19                                                                   20.3             %                                 126                                                                  105                                                                  19.9             %      
                                                                                                                                                                                                                                                                                                                                                                                                                       
 Mississippi Power -                                                                                                                                                                                                                                                                                                                                                                                                   
 Operating Revenues                               $                236                                                $                238                                                (0.8)            %                                 $                1,036                                              $                1,113                                              (6.9)            %      
 Earnings Before Income Taxes                     42                                                                   20                                                                   102.7            %                                 200                                                                  138                                                                  45.0             %      
 Net Income Available to Common                   33                                                                   16                                                                   104.1            %                                 148                                                                  94                                                                   57.3             %      
                                                                                                                                                                                                                                                                                                                                                                                                                       
 Southern Power -                                                                                                                                                                                                                                                                                                                                                                                                      
 Operating Revenues                               $                292                                                $                286                                                1.8              %                                 $                1,186                                              $                1,236                                              (4.0)            %      
 Earnings Before Income Taxes                     48                                                                   22                                                                   116.3            %                                 268                                                                  238                                                                  12.5             %      
 Net Income Available to Common                   31                                                                   24                                                                   30.1             %                                 175                                                                  162                                                                  8.0              %      
                                                                                                                                                                                                                                                                                                                                                                                                                       
                                                                                                                                                                                                                                                                                                                                                                                                                       
 Notes                                                                                                                                                                                                                                                                                                                                                                                                                 
 - 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  year-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-K.                                                                                            


SOURCE  Southern Company


Media Contact, Southern Company Media Relations, +1-404-506-5333 or
1-866-506-5333, www.southerncompany.com or Investor Relations Contact, Dan
Tucker, +1-404-506-5310, dstucker@southernco.com

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