Summary
Southern Company (SO) filed an 8-K on February 22, 2017, to provide investors with its financial results for the fourth quarter and full year ended December 31, 2016. The filing includes a press release and additional financial information, primarily focusing on earnings and earnings per share (EPS). A significant portion of the report details the use of non-GAAP financial measures, which exclude certain charges and costs to present a clearer view of ongoing business performance. Key adjustments to GAAP figures involve removing charges related to the Kemper IGCC project, costs associated with the acquisition and integration of Southern Company Gas, and other acquisition-related expenses. Management believes these non-GAAP metrics offer valuable insights into the company's core operational performance, allowing investors to better assess the business's underlying profitability and trends.
Key Highlights
- 1Southern Company reported its Q4 and Full Year 2016 financial results on February 22, 2017.
- 2The company is providing detailed financial information, including a press release and supplemental data, as exhibits to the 8-K.
- 3A significant focus is placed on non-GAAP financial measures to present earnings and EPS, excluding specific charges and costs.
- 4Key excluded items include charges related to the Kemper IGCC project and costs associated with the acquisition and integration of Southern Company Gas.
- 5Other excluded costs pertain to acquisitions of PowerSecure International and a 50% interest in Southern Natural Gas Company.
- 6The company asserts that these non-GAAP measures are useful for investors in evaluating ongoing business performance.
- 7The filing also includes segment information for its various subsidiaries, such as Alabama Power, Georgia Power, and Southern Company Gas.