Southern (SO) FY2014 results: revenue $18.5 billion, up 8.1% on the year
Southern Co. (SO) reported revenue of $18.5 billion for fiscal 2014, the year ended 31 December 2014, up 8.1% on the year before. Net income was $2.0 billion, up 19.4%, and diluted earnings per share $2.18. The figures are the company's own, from the 10-K it filed with the SEC on 2 March 2015.
Revenue
$18.5 billion
+8.1% on the year
FY2007FY2014
Operating margin
19.7%
19.0% a year earlier
FY2007FY2014
Net income
$2.0 billion
+19.4% on the year
FY2007FY2014
Diluted EPS
$2.18
+16.6% on the year
FY2007FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
18,467
17,087
16,537
+8.1%
Operating income
3,642
3,255
4,463
+11.9%
Operating margin
19.7%
19.0%
27.0%
Pre-tax income
3,008
2,559
3,749
+17.5%
Income tax
977
849
1,334
+15.1%
Effective tax rate
32.5%
33.2%
35.6%
Net income
1,963
1,644
2,350
+19.4%
Net margin
10.6%
9.6%
14.2%
Diluted EPS
$2.18
$1.87
$2.67
+16.6%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
5,815
6,097
4,898
-4.6%
Capital expenditure
5,246
5,331
4,809
-1.6%
Free cash flow
569
766
89.0
-25.7%
Free cash flow margin
3.1%
4.5%
0.5%
Cash from investing
-6,408
-5,742
-5,168
Cash from financing
644
-324
-417
Depreciation and amortisation
2,293
2,298
2,145
-0.2%
Share-based compensation
27.0
25.0
23.0
+8.0%
Buybacks
5.0
20.0
430
-75.0%
Dividends paid
1,866
1,762
1,693
+5.9%
Dividend per share
$2.08
$2.01
$1.94
+3.5%
Diluted shares, weighted
901m
881m
879m
+2.3%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
19,949
19,008
18,297
+5.0%
Non-controlling interest
977
756
707
+29.2%
Redeemable equity
375
375
375
0.0%
Debt
24,776
23,295
22,434
+6.4%
Other liabilities
24,156
20,830
21,336
+16.0%
Total liabilities and equity
70,233
64,264
63,149
+9.3%
Fixed assets
54,868
51,208
48,390
+7.1%
Investments
2,492
2,348
2,189
+6.1%
Cash and equivalents
710
659
628
+7.7%
Other assets
12,163
10,049
11,942
+21.0%
Total assets
70,233
64,264
63,149
+9.3%
10-K for the year ended 31 December 2014, filed 2 March 2015: the filing.