ALABAMA POWER CO

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

About this filing

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

Condensed Consolidated Statements of Income

	For the Three Months Ended June 30,		For the Six Months Ended June 30,
	2025	2024	2025	2024
(in millions) · (in millions)
Operating Revenues:
Wholesale revenues, non-affiliates	$424	$427	$870	$797
Wholesale revenues, affiliates	114	86	229	179
Other revenues	8	11	14	21
Total operating revenues	546	524	1,113	997
Operating Expenses:
Fuel	147	132	355	288
Purchased power	31	22	59	40
Other operations and maintenance	135	119	257	241
Depreciation and amortization	177	127	329	245
Taxes other than income taxes	13	13	25	22
Total operating expenses	503	413	1,025	836
Operating Income	43	111	88	161
Other Income and (Expense):
Interest expense, net of amounts capitalized	(24)	(30)	(50)	(59)
Other income (expense), net	3	3	6	6
Total other income and (expense)	(21)	(27)	(44)	(53)
Earnings Before Income Taxes	22	84	44	108
Income taxes (benefit)	(2)	13	(3)	(1)
Net Income	24	71	47	109
Net loss attributable to noncontrolling interests	(27)	(15)	(91)	(73)
Net Income Attributable to Southern Power	$51	$86	$138	$182

	For the Three Months Ended June 30,		For the Six Months Ended June 30,
	2025	2024	2025	2024
(in millions) · (in millions)
Net Income	$24	$71	$47	$109
Other comprehensive income:
Qualifying hedges:
Changes in fair value, net of tax of $11, $(1), $17, and $(5), respectively	35	(4)	52	(15)
Reclassification adjustment for amounts included in net income, net of tax of $(10), $2, $(15), and $6, respectively	(33)	7	(48)	18
Pension and other postretirement benefit plans:
Benefit plan net gain (loss), net of tax of $—, $—, $—, and $—, respectively	—	—	—	1
Total other comprehensive income	2	3	4	4
Comprehensive Income	26	74	51	113
Comprehensive loss attributable to noncontrolling interests	(27)	(15)	(91)	(73)
Comprehensive Income Attributable to Southern Power	$53	$89	$142	$186

	For the Six Months Ended June 30,
	2025	2024
(in millions)
Operating Activities:
Net income	$47	$109
Adjustments to reconcile net income to net cash provided from operating activities —
Depreciation and amortization, total	340	252
Deferred income taxes	(2)	13
Amortization of ITCs	(29)	(29)
Other, net	(18)	(24)
Changes in certain current assets and liabilities —
-Receivables	(71)	(61)
-Other current assets	2	(3)
-Accounts payable	(20)	(22)
-Accrued compensation	(11)	(11)
-Other current liabilities	(6)	6
Net cash provided from operating activities	232	230
Investing Activities:
Property additions	(392)	(114)
Payments pursuant to LTSAs	(26)	(20)
Other investing activities	—	7
Net cash used for investing activities	(418)	(127)
Financing Activities:
Increase in notes payable, net	201	87
Capital contributions from parent company	146	8
Capital contributions from noncontrolling interests	23	11
Distributions to noncontrolling interests	(66)	(57)
Payment of common stock dividends	(139)	(131)
Other financing activities	(4)	(3)
Net cash provided from (used for) financing activities	161	(85)
Net Change in Cash, Cash Equivalents, and Restricted Cash	(25)	18
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period	168	144
Cash, Cash Equivalents, and Restricted Cash at End of Period	$143	$162
Supplemental Cash Flow Information:
Cash paid during the period for —
Interest (net of $8 and $4 capitalized for 2025 and 2024, respectively)	$59	$64
Income taxes, net (excludes credit transfers)	52	14
Noncash transactions —
Accrued property additions at end of period	60	47
Right-of-use assets obtained under operating leases	2	5
Reassessment of right-of-use assets under operating leases	—	(7)

Assets	At June 30, 2025	At December 31, 2024
(in millions)
Current Assets:
Cash and cash equivalents	$143	$159
Receivables —
Customer accounts, net	184	122
Affiliated	44	39
Other	87	90
Materials and supplies	111	107
Other current assets	98	82
Total current assets	667	599
Property, Plant, and Equipment:
In service	15,005	14,961
Less: Accumulated provision for depreciation	4,789	4,540
Plant in service, net of depreciation	10,216	10,421
Construction work in progress	658	317
Total property, plant, and equipment	10,874	10,738
Other Property and Investments:
Intangible assets, net of amortization of $178 and $168, respectively	213	223
Net investment in sales-type leases	140	143
Total other property and investments	353	366
Deferred Charges and Other Assets:
Operating lease right-of-use assets, net of amortization	483	484
Prepaid LTSAs	194	234
Other deferred charges and assets	246	232
Total deferred charges and other assets	923	950
Total Assets	$12,817	$12,653

Liabilities and Stockholders' Equity	At June 30, 2025	At December 31, 2024
(in millions)
Current Liabilities:
Securities due within one year	$1,485	$500
Notes payable	200	—
Accounts payable —
Affiliated	78	80
Other	74	100
Accrued taxes	27	18
Accrued interest	21	26
Operating lease obligations	29	29
Other current liabilities	74	96
Total current liabilities	1,988	849
Long-term Debt	1,262	2,180
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes	711	712
Accumulated deferred ITCs	1,412	1,440
Operating lease obligations, deferred	511	511
Other deferred credits and liabilities	241	279
Total deferred credits and other liabilities	2,875	2,942
Total Liabilities	6,125	5,971
Total Stockholders' Equity (See accompanying statements)	6,692	6,682
Total Liabilities and Stockholders' Equity	$12,817	$12,653

ContentsView on SEC.gov

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