Summary
Southern Company (SO) filed its quarterly report for the period ending September 30, 2006. The filing provides a consolidated view of its financial performance, including its major subsidiaries like Alabama Power Company, Georgia Power Company, Gulf Power Company, and Mississippi Power Company. A significant event disclosed is the merger of Savannah Electric and Power Company into Georgia Power Company effective July 1, 2006, with retroactive accounting treatment applied. Investors should note that the report contains unaudited financial statements and a forward-looking statement cautionary notice, common for interim filings.
Key Highlights
- 1The report covers the quarterly period ending September 30, 2006, for Southern Company and its major subsidiaries.
- 2A key event detailed is the merger of Savannah Electric and Power Company into Georgia Power Company on July 1, 2006.
- 3Georgia Power Company accounted for the merger using a method similar to a pooling of interests, affecting financial statements retroactively to January 1, 2005.
- 4The filing includes unaudited condensed consolidated financial statements (Income, Cash Flows, Balance Sheets, Comprehensive Income) for the consolidated entity and individual subsidiaries.
- 5Management's Discussion and Analysis (MD&A) sections are provided for both the consolidated company and each significant subsidiary, offering insights into operations and financial condition.
- 6The report includes sections on Legal Proceedings, Risk Factors, and controls and procedures.
- 7The filing indicates 'Inapplicable' for several sections like Unregistered Sales of Equity Securities, Defaults Upon Senior Securities, Submission of Matters to a Vote of Security Holders, and Other Information, suggesting no significant events in these areas during the quarter.