What are the main financial events reported in this 8-K filing?

This 8-K filing primarily reports Southern Company's financial results for the three and six-month periods ending June 30, 2017. It includes a press release and supplementary financial data, with a particular focus on earnings and earnings per share.

Why is Southern Company using non-GAAP financial measures in this report?

Southern Company is using non-GAAP measures to provide investors with a better understanding of the company's ongoing business performance by excluding specific, significant charges. These excluded items include losses and write-downs related to the Kemper IGCC project and a write-down at Plant Scherer, as well as costs associated with the acquisition and integration of Southern Company Gas.

What specific projects or events are causing the adjustments to GAAP earnings?

The primary adjustments are for estimated losses related to Mississippi Power Company's Kemper County integrated coal gasification combined cycle (IGCC) construction project, a write-down of Gulf Power Company's ownership of Plant Scherer Unit 3, and costs related to the acquisition and integration of Southern Company Gas. Earnings from the Wholesale Gas Services business are also excluded for a specific period.

SOUTHERN CO 8-K: Earnings & Results

Q: Where can I find more detailed financial and operational information?

Detailed financial and operational information, including segment results for Alabama Power, Georgia Power, Gulf Power, Mississippi Power, Southern Power, and Southern Company Gas, as well as kilowatt-hour sales and customer data, can be found in the exhibits (99.01 through 99.07) attached to this Form 8-K filing.

Summary

Southern Company (SO) filed an 8-K on August 2, 2017, primarily to report its financial results for the three and six-month periods ended June 30, 2017. The filing includes a press release and additional financial information, importantly highlighting the company's use of non-GAAP financial measures. These adjusted figures exclude significant charges related to the Kemper County integrated coal gasification combined cycle (IGCC) project and a write-down at Plant Scherer. Southern Company management asserts that these non-GAAP measures offer a more useful perspective on ongoing business operations for investors by removing volatility from specific, non-recurring project-related costs. The press release and accompanying exhibits provide detailed segment information for its operating companies, including Alabama Power, Georgia Power, Gulf Power, Mississippi Power, Southern Power, and Southern Company Gas. Investors are directed to these exhibits for a comprehensive understanding of the company's performance, including key operational metrics like kilowatt-hour sales and customer growth, alongside the GAAP and non-GAAP earnings figures. The company emphasizes that these non-GAAP measures are supplementary and not a replacement for GAAP reporting.

Key Highlights

1Southern Company (SO) released its financial results for the periods ending June 30, 2017, via an 8-K filing on August 2, 2017.
2The filing prominently features the use of non-GAAP financial measures to provide a clearer view of ongoing operational performance.
3Significant charges related to the Kemper County IGCC project and a write-down at Plant Scherer are excluded from adjusted earnings per share (EPS) calculations.
4The company believes these non-GAAP adjustments help investors better evaluate the performance of its core business activities.
5Exhibits detail segment information for major operating subsidiaries, including Alabama Power, Georgia Power, Gulf Power, Mississippi Power, Southern Power, and Southern Company Gas.
6Key operational data such as kilowatt-hour sales and customer growth are included in the furnished exhibits.
7Southern Company stresses that non-GAAP measures are supplementary and should not be considered a substitute for GAAP-based financial reporting.

SOUTHERN CO 8-K Report, Financial Results (Aug 2, 2017)

Summary

Key Highlights

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