Exhibit 99.01
 
socologoa04.gif
News
 
Media Contact:
Southern Company Media Relations
 
 
404-506-5333 or 1-866-506-5333
 
 
www.southerncompany.com
 
 
 
 
Investor Relations Contact:
 
 
Aaron Abramovitz
 
 
404-506-0780
 
 
apabramo@southernco.com
 
 
February 22, 2017

Southern Company reports fourth-quarter and full-year 2016 earnings

ATLANTA - Southern Company today reported fourth-quarter 2016 earnings of $197 million, or 20 cents per share, compared with earnings of $271 million, or 30 cents per share, in the fourth quarter of 2015. Southern Company also reported full year 2016 earnings of $2.45 billion, or $2.57 per share, compared with earnings of $2.37 billion, or $2.60 per share, for the same period in 2015.

Excluding the items described in the “Net Income - Excluding Items” table below, Southern Company earned $235 million, or 24 cents per share, during the fourth quarter of 2016, compared with $403 million, or 44 cents per share, during the fourth quarter of 2015. For the full-year 2016, excluding these items, Southern Company earned $2.7 billion, or $2.89 per share, compared with earnings of $2.6 billion, or $2.89 per share, for the same period in 2015.

Non-GAAP Financial Measures
Three Months Ended December
 
Year-to-Date December
Net Income - Excluding Items (in millions)
2016
2015
 
2016
2015
Net Income - As Reported
$197
 $271
 
$2,448
 $2,367
Estimated Loss on Kemper IGCC
206
183
 
428
365
  Tax Impact
(79)
(70)
 
(164)
(139)
Acquisition and Integration Costs
12
25
 
120
41
  Tax Impact
(4)
(6)
 
(38)
(10)
Additional MCAR Settlement Costs
0
0
 
0
7
  Tax Impact
0
0
 
0
(3)
Subtotal
$332
$403
 
$2,794
$2,628
Earnings Guidance Comparability Items:
 
 
 
 
 
Equity Return Related to Kemper IGCC
    Schedule Extension
(22)
0
 
(29)
0
       Tax Impact
(4)
0
 
(5)
0
Southern Company Gas Earnings,
(185)
0
 
(231)
0
net of Acquisition and Integration Costs
 
       Tax Impact
72
0
 
90
0
Acquisition Debt Financing Costs
68
0
 
175
0
       Tax Impact
(26)
0
 
(67)
0
Net Income - Excluding Items
$235
$403
 
$2,727
$2,628
Adjusted Average Shares Outstanding - Acquisition Financing (in millions)
964
911
 
942
910
Basic Earnings Per Share - Excluding Items
$0.24
$0.44
 
$2.89
$2.89
NOTE: For more information regarding these non-GAAP adjustments, see the footnotes accompanying the Financial Highlights page of the earnings package.



The following information was filed by Alabama Power Co (ALAWP) on Wednesday, February 22, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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