Southern Company announced consolidated earnings results for the fourth quarter and full year ended December 31, 2011. For the quarter, the company reported total revenues of $3,696 million, operating income of $589 million, net income of $277 million as compared to total revenues of $3,771 million, operating income of $470 million, net income of $169 million for the same period prior year. Basic earnings per share were $0.30 as compared to $0.18 for the same period prior year. Net income after dividends on preferred and preference stock was $261 million as compared to $153 million for the same period prior year. Earnings before income taxes were $373 million as compared to $270 million for the same period prior year. For the year, the company reported total revenues of $17,657 million, operating income of $4,231 million, net income of $2,268 million as compared to total revenues of $17,456 million, operating income of $3,802 million, net income of $2,040 million for the same period prior year. Basic earnings per share were $2.57 as compared to $2.37 for the same period prior year. Net income after dividends on preferred and preference stock was $2,203 million as compared to $1,975 million for the same period prior year. Earnings for the quarter and the full year were positively influenced by regulatory actions -- primarily at subsidiary Georgia Power -- that became effective in 2011, as well as operating results at Southern Power, Southern Company's competitive generation subsidiary. Earnings were negatively affected by weather that was closer to normal in 2011 than it had been in 2010. Earnings before income taxes were $3,487 million as compared to $3,066 million for the same period prior year. Lower parent and other expenses increased earnings by $0.01 a share in 2011 compared with 2010. Weather effects reduced earnings by $0.21 a share during 2011 compared with 2010. Other operating revenues, primarily increased transmission revenues, added $0.02 a share to earnings in 2011 compared with 2010. A reduction in interest expense for traditional operating companies increased earnings by $0.02 a share during 2011 compared with the full year of 2010. The addition of new long-term contracts and higher energy margins in Southern Power, driven largely by the low price of natural gas, increased earnings by $0.04 a share in 2011 compared with 2010. For the first quarter of 2012, the company expects earnings of $0.45 per share. For the full year of 2012, the company expects residential sales to grow at 1.3%, while commercial sales growth is 1.1%. The company providing a 2012 earnings guidance range of $2.58 to $2.70 per share. The company provided capital expenditure forecast for the next 3 years. The company's base forecast for 2012 through 2014 totals $14 billion. This reflects new generation for traditional operating companies of $4 billion, including $2.2 billion for Plant Vogtle Units 3 and 4 and $1.5 billion for Plant Ratcliffe in Kemper County Mississippi. Other major components of this base forecast includes maintenance capital of $4.3 billion and $1.8 billion for transmission and distribution growth investments. The company provided long-term EPS guidance that was based on 2010 earnings guidance range of $2.30 to $2.36 per share.