ALABAMA POWER CO

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

Sep 30, 2025 · Filed Oct 30, 2025

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

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Contents

Condensed Consolidated Statements of Comprehensive Income (Loss)

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

	For the Three Months Ended September 30,		For the Nine Months Ended September 30,
	2025	2024	2025	2024
(in millions) · (in millions)
Net Income (Loss)	$(1)	$82	$46	$191
Other comprehensive income (loss):
Qualifying hedges:
Changes in fair value, net of tax of $(2), $3, $15, and $(2), respectively	(6)	10	45	(5)
Reclassification adjustment for amounts included in net income, net of tax of $—, $(4), $(15), and $2, respectively	1	(14)	(46)	5
Pension and other postretirement benefit plans:
Benefit plan net gain (loss), net of tax of $—, $—, $—, and $—, respectively	—	—	—	1
Total other comprehensive income (loss)	(5)	(4)	(1)	1
Comprehensive Income (Loss)	(6)	78	45	192
Comprehensive loss attributable to noncontrolling interests	(4)	—	(95)	(73)
Comprehensive Income (Loss) Attributable to Southern Power	$(2)	$78	$140	$265

	For the Nine Months Ended September 30,
	2025	2024
(in millions)
Operating Activities:
Net income	$46	$191
Adjustments to reconcile net income to net cash provided from operating activities —
Depreciation and amortization, total	593	388
Deferred income taxes	(122)	68
Amortization of ITCs	(44)	(44)
Other, net	16	13
Changes in certain current assets and liabilities —
-Receivables	19	(24)
-Other current assets	3	(9)
-Accounts payable	(25)	(19)
-Accrued taxes	52	56
-Other current liabilities	(17)	(13)
Net cash provided from operating activities	521	607
Investing Activities:
Property additions	(620)	(179)
Change in construction payables	78	1
Payments pursuant to LTSAs	(42)	(34)
Other investing activities	—	13
Net cash used for investing activities	(584)	(199)
Financing Activities:
Increase (decrease) in notes payable, net	2	(68)
Proceeds — Senior notes	1,100	—
Capital contributions from parent company	157	8
Capital contributions from noncontrolling interests	23	11
Distributions to noncontrolling interests	(118)	(108)
Payment of common stock dividends	(209)	(196)
Other financing activities	(13)	(4)
Net cash provided from (used for) financing activities	942	(357)
Net Change in Cash, Cash Equivalents, and Restricted Cash	879	51
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period	168	144
Cash, Cash Equivalents, and Restricted Cash at End of Period	$1,047	$195
Supplemental Cash Flow Information:
Cash paid (received) during the period for —
Interest (net of $15 and $5 capitalized for 2025 and 2024, respectively)	$77	$88
Income taxes, net (excludes credit transfers)	163	(30)
Noncash transactions —
Accrued property additions at end of period	138	52
Right-of-use assets obtained under operating leases	2	10
Reassessment of right-of-use assets under operating leases	—	(7)

Assets	At September 30, 2025	At December 31, 2024
(in millions)
Current Assets:
Cash and cash equivalents	$1,047	$159
Receivables —
Customer accounts, net	151	122
Affiliated	39	39
Other	33	90
Materials and supplies	117	107
Other current assets	85	82
Total current assets	1,472	599
Property, Plant, and Equipment:
In service	15,019	14,961
Less: Accumulated provision for depreciation	4,999	4,540
Plant in service, net of depreciation	10,020	10,421
Construction work in progress	861	317
Total property, plant, and equipment	10,881	10,738
Other Property and Investments:
Intangible assets, net of amortization of $183 and $168, respectively	209	223
Net investment in sales-type leases	138	143
Total other property and investments	347	366
Deferred Charges and Other Assets:
Operating lease right-of-use assets, net of amortization	481	484
Prepaid LTSAs	185	234
Other deferred charges and assets	229	232
Total deferred charges and other assets	895	950
Total Assets	$13,595	$12,653

Liabilities and Stockholders' Equity	At September 30, 2025	At December 31, 2024
(in millions)
Current Liabilities:
Securities due within one year	$1,486	$500
Accounts payable —
Affiliated	60	80
Other	168	100
Accrued taxes	70	18
Accrued interest	24	26
Operating lease obligations	29	29
Other current liabilities	82	96
Total current liabilities	1,919	849
Long-term Debt	2,353	2,180
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes	590	712
Accumulated deferred ITCs	1,397	1,440
Operating lease obligations, deferred	510	511
Other deferred credits and liabilities	249	279
Total deferred credits and other liabilities	2,746	2,942
Total Liabilities	7,018	5,971
Total Stockholders' Equity (See accompanying statements)	6,577	6,682
Total Liabilities and Stockholders' Equity	$13,595	$12,653

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