ALABAMA POWER CO

For the period ended Sep 30, 2025. Filed Oct 30, 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.

Sep 30, 2025 · Filed Oct 30, 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

Alabama Power Company:

	For the Three Months Ended September 30,		For the Nine Months Ended September 30,
	2025	2024	2025	2024
(in millions) · (in millions)
Operating Revenues:
Retail revenues	$2,046	$1,904	$5,487	$5,117
Wholesale revenues, non-affiliates	137	89	326	259
Wholesale revenues, affiliates	28	34	132	103
Other revenues	107	111	353	324
Total operating revenues	2,318	2,138	6,298	5,803
Operating Expenses:
Fuel	416	384	1,139	1,050
Purchased power, non-affiliates	56	49	180	148
Purchased power, affiliates	97	48	218	134
Other operations and maintenance	434	493	1,370	1,335
Depreciation and amortization	380	366	1,121	1,091
Taxes other than income taxes	115	108	365	347
Total operating expenses	1,498	1,448	4,393	4,105
Operating Income	820	690	1,905	1,698
Other Income and (Expense):
Allowance for equity funds used during construction	18	15	54	40
Interest expense, net of amounts capitalized	(119)	(113)	(343)	(337)
Other income (expense), net	44	36	128	116
Total other income and (expense)	(57)	(62)	(161)	(181)
Earnings Before Income Taxes	763	628	1,744	1,517
Income taxes	175	135	401	322
Net Income	$588	$493	$1,343	$1,195

	For the Three Months Ended September 30,		For the Nine Months Ended September 30,
	2025	2024	2025	2024
(in millions) · (in millions)
Net Income	$588	$493	$1,343	$1,195
Other comprehensive income:
Qualifying hedges:
Reclassification adjustment for amounts included in net income, net of tax of $—, $—, $1, and $1, respectively	1	—	2	1
Total other comprehensive income	1	—	2	1
Comprehensive Income	$589	$493	$1,345	$1,196

	For the Nine Months Ended September 30,
	2025	2024
(in millions)
Operating Activities:
Net income	$1,343	$1,195
Adjustments to reconcile net income to net cash provided from operating activities —
Depreciation and amortization, total	1,226	1,201
Deferred income taxes	127	(79)
Pension, postretirement, and other employee benefits	(148)	(151)
Settlement of asset retirement obligations	(202)	(184)
Retail fuel cost under recovery – long-term	(69)	—
Other, net	(75)	24
Changes in certain current assets and liabilities —
-Receivables	(125)	(115)
-Fossil fuel stock	71	46
-Prepayments	(56)	(44)
-Retail fuel cost under recovery	(14)	236
-Other current assets	24	(32)
-Accounts payable	(286)	(304)
-Accrued taxes	237	235
-Customer refunds	(110)	(23)
-Other current liabilities	(143)	(22)
Net cash provided from operating activities	1,800	1,983
Investing Activities:
Property additions	(1,523)	(1,279)
Business acquisition	(635)	—
Nuclear decommissioning trust fund purchases	(407)	(448)
Nuclear decommissioning trust fund sales	407	448
Cost of removal, net of salvage	(137)	(123)
Change in construction payables, net of joint owner portion	(52)	(32)
Other investing activities	(14)	(26)
Net cash used for investing activities	(2,361)	(1,460)
Financing Activities:
Increase in notes payable, net	—	(40)
Proceeds —
Senior notes	1,100	—
Short-term borrowings	—	50
Other long-term debt	4	6
Redemptions —
Senior notes	(250)	—
Revenue bonds	—	(21)
Short-term borrowings	—	(50)
Capital contributions from parent company	591	488
Payment of common stock dividends	(914)	(886)
Other financing activities	(12)	(3)
Net cash provided from (used for) financing activities	519	(456)
Net Change in Cash, Cash Equivalents, and Restricted Cash	(42)	67
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period	585	409
Cash, Cash Equivalents, and Restricted Cash at End of Period	$543	$476
Supplemental Cash Flow Information:
Cash paid during the period for —
Interest (net of $16 and $13 capitalized for 2025 and 2024, respectively)	$347	$356
Income taxes, net	243	288
Noncash transactions —
Accrued property additions at end of period	96	106
Right-of-use assets obtained under operating leases	8	11
Right-of-use assets obtained under finance leases	4	—

Assets	At September 30, 2025	At December 31, 2024
(in millions)
Current Assets:
Cash and cash equivalents	$543	$585
Receivables —
Customer accounts	577	512
Unbilled revenues	197	187
Affiliated	133	91
Other accounts and notes	82	126
Accumulated provision for uncollectible accounts	(22)	(22)
Fossil fuel stock	267	339
Materials and supplies	720	699
Prepaid expenses	128	63
Other regulatory assets	345	332
Other current assets	137	79
Total current assets	3,107	2,991
Property, Plant, and Equipment:
In service	38,605	36,501
Less: Accumulated provision for depreciation	12,614	11,741
Plant in service, net of depreciation	25,991	24,760
Other utility plant, net	331	410
Nuclear fuel, at amortized cost	298	262
Construction work in progress	1,412	1,377
Total property, plant, and equipment	28,032	26,809
Other Property and Investments:
Nuclear decommissioning trusts, at fair value	1,526	1,386
Equity investments in unconsolidated subsidiaries	46	48
Miscellaneous property and investments	123	129
Total other property and investments	1,695	1,563
Deferred Charges and Other Assets:
Operating lease right-of-use assets, net of amortization	82	84
Deferred charges related to income taxes	268	264
Prepaid pension and other postretirement benefit costs	922	841
Regulatory assets – asset retirement obligations	1,515	1,780
Other regulatory assets, deferred	1,914	1,815
Other deferred charges and assets	413	391
Total deferred charges and other assets	5,114	5,175
Total Assets	$37,948	$36,538

Liabilities and Stockholder's Equity	At September 30, 2025	At December 31, 2024
(in millions)
Current Liabilities:
Securities due within one year	$624	$655
Accounts payable —
Affiliated	302	299
Other	367	625
Customer deposits	115	113
Accrued taxes	289	78
Accrued interest	102	120
Accrued compensation	261	240
Asset retirement obligations	264	364
Other regulatory liabilities	29	165
Other current liabilities	136	219
Total current liabilities	2,489	2,878
Long-term Debt	11,381	10,499
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes	4,361	4,178
Deferred credits related to income taxes	1,382	1,398
Accumulated deferred ITCs	107	113
Employee benefit obligations	150	148
Operating lease obligations	73	76
Asset retirement obligations, deferred	3,446	3,694
Other regulatory liabilities, deferred	171	271
Other deferred credits and liabilities	274	195
Total deferred credits and other liabilities	9,964	10,073
Total Liabilities	23,834	23,450
Common Stockholder's Equity (See accompanying statements)	14,114	13,088
Total Liabilities and Stockholder's Equity	$37,948	$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
Net income	—	—	—	493	—	493
Capital contributions from parent company	—	—	16	—	—	16
Cash dividends on common stock	—	—	—	(295)	—	(295)
Balance at September 30, 2024	31	$1,222	$7,618	$4,301	$(6)	$13,135
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
Net income	—	—	—	588	—	588
Capital contributions from parent company	—	—	31	—	—	31
Other comprehensive income	—	—	—	—	1	1
Cash dividends on common stock	—	—	—	(305)	—	(305)
Other	—	—	—	—	(1)	(1)
Balance at September 30, 2025	31	$1,222	$8,253	$4,643	$(4)	$14,114

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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.