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SOUTHERN POWER CO FILES (8-K) Disclosing Results of Operations and Financial Condition

July 30, 2014



Item 2.02 Results of Operations and Financial Condition

The information in this Current Report on Form 8-K, including the exhibits attached hereto, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities under that Section. Furthermore, such information, including the exhibits attached hereto, shall not be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.

On July 30, 2014, The Southern Company ("Southern Company") issued a press release regarding its earnings for the periods ended June 30, 2014. A copy of this release is being furnished as Exhibit 99.01 to this Current Report on Form 8-K. In addition, certain additional information regarding the financial results for the three-month and six-month periods ended June 30, 2014 is being furnished as Exhibits 99.02 through 99.07 to this Current Report on Form 8-K.

Use of Non-GAAP Financial Measures



Exhibits 99.01, 99.02, 99.03 and 99.04 to this Current Report on Form 8-K, in addition to including earnings and earnings per share in accordance with generally accepted accounting principles ("GAAP") for the three-month and six-month periods ended June 30, 2014 and 2013, also include earnings and earnings per share (1) for the six-month period ended June 30, 2014 and for the three-month and six-month periods ended June 30, 2013 excluding charges for estimated probable losses relating to Mississippi Power Company's construction of the integrated coal gasification combined cycle facility in Kemper County, Mississippi ("Kemper IGCC") and (2) for the six-month period ended June 30, 2013 excluding a charge related to the restructuring of a leveraged lease investment that was completed in March 2013. These charges significantly impacted the presentation of earnings and earnings per share for the respective periods. Leveraged lease charges are not expected to occur with any regularity as part of Southern Company's ongoing business activities, and any charges similar to the Kemper IGCC charges are items that may occur with uncertain frequency in the future. Southern Company believes the presentation of earnings and earnings per share, excluding these charges, is useful to investors because it provides investors with additional information to evaluate the performance of Southern Company's ongoing business activities. Southern Company management also uses earnings and earnings per share, excluding the effect of these charges, to evaluate the performance of Southern Company's ongoing business activities. The presentation of this additional information is not meant to be considered a substitute for financial measures prepared in accordance with GAAP.

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-------------------------------------------------------------------------------- Exhibits



The exhibits hereto contain business segment information for Alabama Power Company, Georgia Power Company, Gulf Power Company, Mississippi Power Company and Southern Power Company. Accordingly, this report is also being furnished on behalf of each such registrant.

The following exhibits relate to the periods ended June 30, 2014:

Exhibit 99.01 Press Release.


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Source: Edgar Glimpses


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