10-KPeriod: FY2009

SOUTHERN CO Annual Report, Year Ended Dec 31, 2009

Filed February 25, 2010For Securities:SOSOJESOJFSOJCSOJDSOMN

Summary

Southern Company's 2009 10-K filing presents a comprehensive overview of its operations and financial condition as of December 30, 2009. The report highlights the company's significant investments in construction programs and its robust financing strategies to support these endeavors. Fuel supply management and the competitive landscape within its service territories are also key areas of focus, underscoring the company's efforts to maintain operational efficiency and market position. Investors should note the emphasis on regulation and rate matters, which are critical to Southern Company's revenue generation and profitability. The filing also addresses risk factors, providing insight into potential challenges and their implications for the company's future performance. The detailed financial statements and management's discussion offer a deep dive into the company's financial health, operational performance, and outlook, essential for informed investment decisions.

Financial Highlights

42 data points
Beta

Revenue

$15.74B

Net Income

$1.71B

10.8% Net Margin

EPS (Diluted)

$2.06

Total Assets

$52.05B

Cash & Equivalents

$690.00M

Free Cash Flow

-$1.41B

Financial Statements
Beta
Revenue$15.74B
Operating Expenses$12.47B
Operating Income$3.27B
Net Income$1.71B
EPS (Basic)$2.07
EPS (Diluted)$2.06
Shares Outstanding (Basic)795.00M
Shares Outstanding (Diluted)796.00M

Key Highlights

  • 1The company is actively engaged in significant construction programs, requiring substantial capital investment and robust financing strategies.
  • 2Fuel supply management is a critical operational component, influencing costs and service reliability for its customers.
  • 3Southern Company operates within a regulated industry, making rate matters and regulatory decisions significant drivers of financial performance.
  • 4The filing outlines various risk factors that could impact the company's financial condition and results of operations, including regulatory, environmental, and economic risks.
  • 5The report provides a detailed breakdown of the business segments, territories served, and competitive dynamics faced by the traditional operating companies and Southern Power.
  • 6Information regarding executive officers across the parent company and its subsidiaries (Alabama Power, Georgia Power, Mississippi Power) is provided, offering transparency into leadership.

Frequently Asked Questions

Southern Company is an energy public utility company. Its primary business activities involve the generation, wholesale, and retail distribution of electricity, as well as the distribution of natural gas. The company operates through its subsidiaries, including Alabama Power, Georgia Power, and Mississippi Power, serving a broad customer base across the southeastern United States.

The main risks include regulatory changes and decisions affecting rates and operations, environmental regulations and compliance costs, fuel price volatility, economic conditions impacting customer demand, competition, and the potential for operational disruptions due to weather or equipment failure. The filing elaborates on these and other specific risks within the 'Risk Factors' section.

Southern Company employs a comprehensive fuel supply strategy that includes sourcing coal, natural gas, and other fuels through various contracts and market purchases. The company aims to ensure a reliable and cost-effective supply of fuel to meet its generation needs, managing price volatility and supply chain risks.

'Rate matters' refer to the process of establishing and adjusting the prices (rates) that Southern Company can charge its customers for electricity and gas. As a regulated utility, these rates are subject to approval by state and federal regulatory commissions. Changes in rates directly impact the company's revenues, profitability, and its ability to fund operations and capital expenditures.