Summary
Southern Company (SO) filed an 8-K on October 27, 2015, primarily to report on its financial results for the three-month and nine-month periods ended September 30, 2015. The filing indicates that the company is providing both GAAP (Generally Accepted Accounting Principles) and non-GAAP financial measures. This is a key point for investors, as the non-GAAP figures exclude significant charges, most notably those related to Mississippi Power Company's Kemper IGCC project and costs associated with the proposed acquisition of AGL Resources Inc. The company asserts that these adjusted figures offer a clearer view of ongoing business performance.
Key Highlights
- 1Southern Company released its Q3 2015 earnings and financial condition results on October 27, 2015.
- 2The filing includes both GAAP and non-GAAP financial measures for the periods ended September 30, 2015.
- 3Significant charges related to the Kemper IGCC project at Mississippi Power Company are impacting reported earnings.
- 4Costs associated with the proposed acquisition of AGL Resources Inc. are also being excluded from non-GAAP earnings.
- 5Southern Company utilizes these non-GAAP measures to highlight the performance of its core ongoing business activities.
- 6The filing also provides segment information for its major utility subsidiaries: Alabama Power, Georgia Power, Gulf Power, Mississippi Power, and Southern Power.