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Midas Edge

ALABAMA POWER CO

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

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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

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Georgia Power Company:

For the Three Months Ended June 30,For the Six Months Ended June 30,
2025202420252024
(in millions) · (in millions)
Operating Revenues:
Retail revenues$2,765$2,597$5,395$4,752
Wholesale revenues10763250120
Other revenues238215503401
Total operating revenues3,1102,8756,1485,273
Operating Expenses:
Fuel4764411,000830
Purchased power, non-affiliates180151340291
Purchased power, affiliates197182461363
Other operations and maintenance6454381,283953
Depreciation and amortization5124471,015872
Taxes other than income taxes173164342311
Total operating expenses2,1831,8234,4413,620
Operating Income9271,0521,7071,653
Other Income and (Expense):
Allowance for equity funds used during construction563310472
Interest expense, net of amounts capitalized(198)(185)(385)(359)
Other income (expense), net5854112104
Total other income and (expense)(84)(98)(169)(183)
Earnings Before Income Taxes8439541,5381,470
Income taxes236192334271
Net Income$607$762$1,204$1,199
For the Three Months Ended June 30,For the Six Months Ended June 30,
2025202420252024
(in millions) · (in millions)
Net Income$607$762$1,204$1,199
Other comprehensive income:
Qualifying hedges:
Changes in fair value, net of tax of $1, $—, $1, and $4, respectively4—212
Reclassification adjustment for amounts included in net income, net of tax of $—, $—, $—, and $1, respectively—112
Total other comprehensive income41314
Comprehensive Income$611$763$1,207$1,213
For the Six Months Ended June 30,
20252024
(in millions)
Operating Activities:
Net income$1,204$1,199
Adjustments to reconcile net income to net cash provided from operating activities —
Depreciation and amortization, total1,1671,020
Deferred income taxes23877
Allowance for equity funds used during construction(104)(72)
Pension, postretirement, and other employee benefits(128)(118)
Settlement of asset retirement obligations(149)(130)
Storm damage cost recovery – long-term(238)—
Other, net(39)(152)
Changes in certain current assets and liabilities —
-Receivables(270)(431)
-Retail fuel cost under recovery186283
-Other current assets5(22)
-Accounts payable(396)29
-Accrued taxes(196)(46)
-Other current liabilities5543
Net cash provided from operating activities1,3351,680
Investing Activities:
Property additions(2,991)(2,113)
Nuclear decommissioning trust fund purchases(507)(411)
Nuclear decommissioning trust fund sales507411
Cost of removal, net of salvage(152)(146)
Change in construction payables, net of joint owner portion(27)(192)
Payments pursuant to LTSAs(7)(63)
Proceeds from dispositions—342
Other investing activities(41)(27)
Net cash used for investing activities(3,218)(2,199)
Financing Activities:
Increase (decrease) in notes payable, net285(689)
Proceeds —
Senior notes1,6001,400
Short-term borrowings200350
Redemptions and repurchases —
Senior notes(700)—
Short-term borrowings—(250)
FFB loan(43)(43)
Capital contributions from parent company1,671862
Payment of common stock dividends(1,105)(1,026)
Other financing activities(49)(53)
Net cash provided from financing activities1,859551
Net Change in Cash, Cash Equivalents, and Restricted Cash(24)32
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period11875
Cash, Cash Equivalents, and Restricted Cash at End of Period$94$107
Supplemental Cash Flow Information:
Cash paid (received) during the period for —
Interest (net of $33 and $31 capitalized for 2025 and 2024, respectively)$341$329
Income taxes, net (excludes credit transfers)25(7)
Noncash transactions —
Accrued property additions at end of period699467
Right-of-use assets obtained under operating leases28112
Right-of-use assets obtained under finance leases1344
AssetsAt June 30, 2025At December 31, 2024
(in millions)
Current Assets:
Cash and cash equivalents$94$97
Receivables —
Customer accounts, net1,088985
Unbilled revenues525341
Under recovered retail fuel clause revenues655713
Joint owner accounts92101
Affiliated13465
Other accounts and notes5592
Fossil fuel stock374385
Materials and supplies952968
Regulatory assets – asset retirement obligations258222
Other regulatory assets346373
Other current assets226262
Total current assets4,7994,604
Property, Plant, and Equipment:
In service56,75155,036
Less: Accumulated provision for depreciation15,37814,806
Plant in service, net of depreciation41,37340,230
Nuclear fuel, at amortized cost615611
Construction work in progress4,4183,197
Total property, plant, and equipment46,40644,038
Other Property and Investments:
Nuclear decommissioning trusts, at fair value1,3061,236
Equity investments in unconsolidated subsidiaries4043
Miscellaneous property and investments205192
Total other property and investments1,5511,471
Deferred Charges and Other Assets:
Operating lease right-of-use assets, net of amortization1,2711,331
Deferred charges related to income taxes604596
Prepaid pension costs974897
Deferred under recovered retail fuel clause revenues325453
Regulatory assets – asset retirement obligations, deferred3,3243,436
Other regulatory assets, deferred3,9863,814
Other deferred charges and assets611615
Total deferred charges and other assets11,09511,142
Total Assets$63,851$61,255
Liabilities and Stockholder's EquityAt June 30, 2025At December 31, 2024
(in millions)
Current Liabilities:
Securities due within one year$996$966
Notes payable285200
Accounts payable —
Affiliated834984
Other1,4651,837
Customer deposits260256
Accrued taxes569803
Accrued interest218190
Accrued compensation179276
Operating lease obligations174169
Asset retirement obligations333309
Other regulatory liabilities101150
Other current liabilities306296
Total current liabilities5,7206,436
Long-term Debt18,60617,384
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes4,6714,385
Deferred credits related to income taxes2,0802,047
Accumulated deferred ITCs341343
Employee benefit obligations206205
Operating lease obligations, deferred1,1161,159
Asset retirement obligations, deferred5,0465,106
Other deferred credits and liabilities608509
Total deferred credits and other liabilities14,06813,754
Total Liabilities38,39437,574
Common Stockholder's Equity (See accompanying statements)25,45723,681
Total Liabilities and Stockholder's Equity$63,851$61,255
Number ofCommonSharesIssuedCommonStockPaid-InCapitalRetainedEarningsAccumulatedOtherComprehensiveIncome (Loss)Total
(in millions)
Balance at December 31, 20239$398$17,923$3,071$(9)$21,383
Net income———437—437
Capital contributions from parent company——750——750
Other comprehensive income————1313
Cash dividends on common stock———(513)—(513)
Balance at March 31, 2024939818,6732,995422,070
Net income———762—762
Capital contributions from parent company——113——113
Other comprehensive income————11
Cash dividends on common stock———(513)—(513)
Balance at June 30, 20249$398$18,786$3,244$5$22,433
Balance at December 31, 20249$398$19,708$3,562$13$23,681
Net income———596—596
Capital contributions from parent company——702——702
Other comprehensive income (loss)————(1)(1)
Cash dividends on common stock———(552)—(552)
Balance at March 31, 2025939820,4103,6061224,426
Net income———607—607
Capital contributions from parent company——972——972
Other comprehensive income————44
Cash dividends on common stock———(553)—(553)
Other———1—1
Balance at June 30, 20259$398$21,382$3,661$16$25,457
ContentsView on SEC.gov

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