ALABAMA POWER CO

For the period ended Jun 30, 2025. Filed Jul 31, 2025.

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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2025 · Filed Jul 31, 2025

SO$93.65+0.1%Stored close · as of Nov 10, 2026

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Contents

Alabama Power Company:

	For the Three Months Ended June 30,		For the Six Months Ended June 30,
	2025	2024	2025	2024
(in millions) · (in millions)
Operating Revenues:
Retail revenues	$1,718	$1,647	$3,441	$3,213
Wholesale revenues, non-affiliates	98	84	189	169
Wholesale revenues, affiliates	36	27	105	68
Other revenues	116	115	245	214
Total operating revenues	1,968	1,873	3,980	3,664
Operating Expenses:
Fuel	337	335	723	666
Purchased power, non-affiliates	54	47	124	99
Purchased power, affiliates	67	44	121	87
Other operations and maintenance	472	429	935	840
Depreciation and amortization	371	364	741	725
Taxes other than income taxes	120	118	250	238
Total operating expenses	1,421	1,337	2,894	2,655
Operating Income	547	536	1,086	1,009
Other Income and (Expense):
Allowance for equity funds used during construction	18	12	36	26
Interest expense, net of amounts capitalized	(116)	(114)	(225)	(224)
Other income (expense), net	47	37	84	78
Total other income and (expense)	(51)	(65)	(105)	(120)
Earnings Before Income Taxes	496	471	981	889
Income taxes	115	102	226	187
Net Income	$381	$369	$755	$702

	For the Three Months Ended June 30,		For the Six Months Ended June 30,
	2025	2024	2025	2024
(in millions) · (in millions)
Net Income	$381	$369	$755	$702
Other comprehensive income:
Qualifying hedges:
Reclassification adjustment for amounts included in net income, net of tax of $—, $—, $—, and $—, respectively	—	1	1	1
Total other comprehensive income	—	1	1	1
Comprehensive Income	$381	$370	$756	$703

	For the Six Months Ended June 30,
	2025	2024
(in millions)
Operating Activities:
Net income	$755	$702
Adjustments to reconcile net income to net cash provided from operating activities —
Depreciation and amortization, total	803	796
Deferred income taxes	116	(40)
Pension, postretirement, and other employee benefits	(89)	(93)
Settlement of asset retirement obligations	(120)	(117)
Retail fuel cost under recovery – long-term	(62)	—
Other, net	(44)	(20)
Changes in certain current assets and liabilities —
-Receivables	(94)	(80)
-Fossil fuel stock	32	9
-Prepayments	(89)	(70)
-Retail fuel cost under recovery	—	131
-Other current assets	(40)	(47)
-Accounts payable	(251)	(331)
-Accrued taxes	25	96
-Accrued compensation	(93)	(68)
-Customer refunds	(110)	(22)
-Other current liabilities	(61)	31
Net cash provided from operating activities	678	877
Investing Activities:
Property additions	(1,034)	(829)
Nuclear decommissioning trust fund purchases	(270)	(328)
Nuclear decommissioning trust fund sales	270	328
Cost of removal, net of salvage	(92)	(77)
Change in construction payables, net of joint owner portion	(32)	(36)
Other investing activities	(11)	(9)
Net cash used for investing activities	(1,169)	(951)
Financing Activities:
Increase in notes payable, net	—	40
Proceeds —
Senior notes	600	—
Short-term borrowings	—	50
Other long-term debt	4	4
Redemptions —
Senior notes	(250)	—
Revenue bonds	—	(21)
Capital contributions from parent company	562	474
Payment of common stock dividends	(609)	(591)
Other financing activities	(7)	(2)
Net cash provided from (used for) financing activities	300	(46)
Net Change in Cash, Cash Equivalents, and Restricted Cash	(191)	(120)
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period	585	409
Cash, Cash Equivalents, and Restricted Cash at End of Period	$394	$289
Supplemental Cash Flow Information:
Cash paid during the period for —
Interest (net of $10 and $8 capitalized for 2025 and 2024, respectively)	$205	$213
Income taxes, net	217	208
Noncash transactions —
Accrued property additions at end of period	116	101
Right-of-use assets obtained under operating leases	7	10
Right-of-use assets obtained under finance leases	1	—

Assets	At June 30, 2025	At December 31, 2024
(in millions)
Current Assets:
Cash and cash equivalents	$394	$585
Receivables —
Customer accounts	512	512
Unbilled revenues	226	187
Affiliated	139	91
Other accounts and notes	78	126
Accumulated provision for uncollectible accounts	(21)	(22)
Fossil fuel stock	307	339
Materials and supplies	714	699
Prepaid expenses	219	63
Other regulatory assets	327	332
Other current assets	96	79
Total current assets	2,991	2,991
Property, Plant, and Equipment:
In service	37,344	36,501
Less: Accumulated provision for depreciation	12,181	11,741
Plant in service, net of depreciation	25,163	24,760
Other utility plant, net	363	410
Nuclear fuel, at amortized cost	292	262
Construction work in progress	1,358	1,377
Total property, plant, and equipment	27,176	26,809
Other Property and Investments:
Nuclear decommissioning trusts, at fair value	1,456	1,386
Equity investments in unconsolidated subsidiaries	45	48
Miscellaneous property and investments	133	129
Total other property and investments	1,634	1,563
Deferred Charges and Other Assets:
Operating lease right-of-use assets, net of amortization	84	84
Deferred charges related to income taxes	267	264
Prepaid pension and other postretirement benefit costs	886	841
Regulatory assets – asset retirement obligations	1,562	1,780
Other regulatory assets, deferred	1,934	1,815
Other deferred charges and assets	423	391
Total deferred charges and other assets	5,156	5,175
Total Assets	$36,957	$36,538

Liabilities and Stockholder's Equity	At June 30, 2025	At December 31, 2024
(in millions)
Current Liabilities:
Securities due within one year	$624	$655
Accounts payable —
Affiliated	298	299
Other	397	625
Customer deposits	115	113
Accrued taxes	134	78
Accrued interest	128	120
Accrued compensation	171	240
Asset retirement obligations	271	364
Other regulatory liabilities	35	165
Other current liabilities	94	219
Total current liabilities	2,267	2,878
Long-term Debt	10,881	10,499
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes	4,327	4,178
Deferred credits related to income taxes	1,404	1,398
Accumulated deferred ITCs	109	113
Employee benefit obligations	153	148
Operating lease obligations	76	76
Asset retirement obligations, deferred	3,482	3,694
Other regulatory liabilities, deferred	208	271
Other deferred credits and liabilities	250	195
Total deferred credits and other liabilities	10,009	10,073
Total Liabilities	23,157	23,450
Common Stockholder's Equity (See accompanying statements)	13,800	13,088
Total Liabilities and Stockholder's Equity	$36,957	$36,538

	Number ofCommonSharesIssued	CommonStock	Paid-InCapital	RetainedEarnings	AccumulatedOtherComprehensiveIncome (Loss)	Total
(in millions)
Balance at December 31, 2023	31	$1,222	$7,125	$3,993	$(7)	$12,333
Net income	—	—	—	333	—	333
Capital contributions from parent company	—	—	427	—	—	427
Cash dividends on common stock	—	—	—	(295)	—	(295)
Other	—	—	—	(1)	—	(1)
Balance at March 31, 2024	31	1,222	7,552	4,030	(7)	12,797
Net income	—	—	—	369	—	369
Capital contributions from parent company	—	—	50	—	—	50
Other comprehensive income	—	—	—	—	1	1
Cash dividends on common stock	—	—	—	(296)	—	(296)
Balance at June 30, 2024	31	$1,222	$7,602	$4,103	$(6)	$12,921
Balance at December 31, 2024	31	$1,222	$7,657	$4,214	$(5)	$13,088
Net income	—	—	—	375	—	375
Capital contributions from parent company	—	—	527	—	—	527
Other comprehensive income	—	—	—	—	1	1
Cash dividends on common stock	—	—	—	(305)	—	(305)
Other	—	—	—	—	(1)	(1)
Balance at March 31, 2025	31	1,222	8,184	4,284	(5)	13,685
Net income	—	—	—	381	—	381
Capital contributions from parent company	—	—	38	—	—	38
Cash dividends on common stock	—	—	—	(304)	—	(304)
Other	—	—	—	(1)	1	—
Balance at June 30, 2025	31	$1,222	$8,222	$4,360	$(4)	$13,800

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.