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

Georgia 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	$3,359	$3,185	$8,754	$7,937
Wholesale revenues	140	78	390	198
Other revenues	271	209	774	610
Total operating revenues	3,770	3,472	9,918	8,745
Operating Expenses:
Fuel	567	451	1,567	1,281
Purchased power, non-affiliates	176	174	516	466
Purchased power, affiliates	202	204	664	567
Other operations and maintenance	616	613	1,897	1,565
Depreciation and amortization	526	462	1,541	1,334
Taxes other than income taxes	75	177	417	488
Total operating expenses	2,162	2,081	6,602	5,701
Operating Income	1,608	1,391	3,316	3,044
Other Income and (Expense):
Allowance for equity funds used during construction	67	37	171	108
Interest expense, net of amounts capitalized	(200)	(184)	(585)	(543)
Other income (expense), net	51	52	162	156
Total other income and (expense)	(82)	(95)	(252)	(279)
Earnings Before Income Taxes	1,526	1,296	3,064	2,765
Income taxes	278	246	612	516
Net Income	$1,248	$1,050	$2,452	$2,249

	For the Three Months Ended September 30,		For the Nine Months Ended September 30,
	2025	2024	2025	2024
(in millions) · (in millions)
Net Income	$1,248	$1,050	$2,452	$2,249
Other comprehensive income:
Qualifying hedges:
Changes in fair value, net of tax of $—, $—, $1, and $4, respectively	—	—	3	13
Reclassification adjustment for amounts included in net income, net of tax of $—, $—, $—, and $1, respectively	—	1	1	3
Total other comprehensive income	—	1	4	16
Comprehensive Income	$1,248	$1,051	$2,456	$2,265

	For the Nine Months Ended September 30,
	2025	2024
(in millions)
Operating Activities:
Net income	$2,452	$2,249
Adjustments to reconcile net income to net cash provided from operating activities —
Depreciation and amortization, total	1,770	1,566
Deferred income taxes	277	408
Allowance for equity funds used during construction	(171)	(108)
Pension, postretirement, and other employee benefits	(208)	(197)
Settlement of asset retirement obligations	(236)	(191)
Storm damage cost recovery – long-term	(262)	—
Other, net	(136)	(174)
Changes in certain current assets and liabilities —
-Receivables	(104)	(499)
-Retail fuel cost under recovery	483	590
-Fossil fuel stock	25	110
-Materials and supplies	17	(83)
-Other current assets	(169)	(163)
-Accounts payable	(385)	113
-Accrued taxes	90	24
-Other current liabilities	41	36
Net cash provided from operating activities	3,484	3,681
Investing Activities:
Property additions	(4,886)	(3,403)
Nuclear decommissioning trust fund purchases	(805)	(623)
Nuclear decommissioning trust fund sales	805	622
Cost of removal, net of salvage	(226)	(225)
Change in construction payables, net of joint owner portion	24	(92)
Proceeds from dispositions	—	356
Other investing activities	(101)	(122)
Net cash used for investing activities	(5,189)	(3,487)
Financing Activities:
Decrease in notes payable, net	—	(776)
Proceeds —
Senior notes	3,100	1,400
Short-term borrowings	200	350
Redemptions and repurchases —
Senior notes	(700)	(400)
Short-term borrowings	—	(670)
FFB loan	(64)	(64)
Revenue bonds	(45)	—
Capital contributions from parent company	1,741	1,560
Payment of common stock dividends	(1,657)	(1,538)
Other financing activities	(51)	(67)
Net cash provided from (used for) financing activities	2,524	(205)
Net Change in Cash, Cash Equivalents, and Restricted Cash	819	(11)
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period	118	75
Cash, Cash Equivalents, and Restricted Cash at End of Period	$937	$64
Supplemental Cash Flow Information:
Cash paid during the period for —
Interest (net of $54 and $43 capitalized for 2025 and 2024, respectively)	$576	$530
Income taxes, net (excludes credit transfers)	39	80
Noncash transactions —
Accrued property additions at end of period	748	590
Right-of-use assets obtained under operating leases	30	121
Right-of-use assets obtained under finance leases	13	44

Assets	At September 30, 2025	At December 31, 2024
(in millions)
Current Assets:
Cash and cash equivalents	$937	$97
Receivables —
Customer accounts, net	1,144	985
Unbilled revenues	359	341
Under recovered retail fuel clause revenues	487	713
Joint owner accounts	115	101
Affiliated	109	65
Other accounts and notes	48	92
Fossil fuel stock	360	385
Materials and supplies	945	968
Regulatory assets – asset retirement obligations	222	222
Other regulatory assets	358	373
Other current assets	355	262
Total current assets	5,439	4,604
Property, Plant, and Equipment:
In service	57,432	55,036
Less: Accumulated provision for depreciation	15,713	14,806
Plant in service, net of depreciation	41,719	40,230
Nuclear fuel, at amortized cost	616	611
Construction work in progress	5,581	3,197
Total property, plant, and equipment	47,916	44,038
Other Property and Investments:
Nuclear decommissioning trusts, at fair value	1,359	1,236
Equity investments in unconsolidated subsidiaries	39	43
Miscellaneous property and investments	222	192
Total other property and investments	1,620	1,471
Deferred Charges and Other Assets:
Operating lease right-of-use assets, net of amortization	1,228	1,331
Deferred charges related to income taxes	615	596
Prepaid pension costs	1,010	897
Deferred under recovered retail fuel clause revenues	197	453
Regulatory assets – asset retirement obligations, deferred	3,303	3,436
Other regulatory assets, deferred	4,015	3,814
Other deferred charges and assets	616	615
Total deferred charges and other assets	10,984	11,142
Total Assets	$65,959	$61,255

Liabilities and Stockholder's Equity	At September 30, 2025	At December 31, 2024
(in millions)
Current Liabilities:
Securities due within one year	$1,368	$966
Notes payable	—	200
Accounts payable —
Affiliated	925	984
Other	1,436	1,837
Customer deposits	263	256
Accrued taxes	856	803
Accrued interest	178	190
Accrued compensation	263	276
Operating lease obligations	176	169
Asset retirement obligations	345	309
Other regulatory liabilities	86	150
Other current liabilities	239	296
Total current liabilities	6,135	6,436
Long-term Debt	19,656	17,384
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes	4,782	4,385
Deferred credits related to income taxes	2,051	2,047
Accumulated deferred ITCs	337	343
Employee benefit obligations	191	205
Operating lease obligations, deferred	1,029	1,159
Asset retirement obligations, deferred	4,999	5,106
Other deferred credits and liabilities	552	509
Total deferred credits and other liabilities	13,941	13,754
Total Liabilities	39,732	37,574
Common Stockholder's Equity (See accompanying statements)	26,227	23,681
Total Liabilities and Stockholder's Equity	$65,959	$61,255

	Number ofCommonSharesIssued	CommonStock	Paid-InCapital	RetainedEarnings	AccumulatedOtherComprehensiveIncome (Loss)	Total
(in millions)
Balance at December 31, 2023	9	$398	$17,923	$3,071	$(9)	$21,383
Net income	—	—	—	437	—	437
Capital contributions from parent company	—	—	750	—	—	750
Other comprehensive income	—	—	—	—	13	13
Cash dividends on common stock	—	—	—	(513)	—	(513)
Balance at March 31, 2024	9	398	18,673	2,995	4	22,070
Net income	—	—	—	762	—	762
Capital contributions from parent company	—	—	113	—	—	113
Other comprehensive income	—	—	—	—	1	1
Cash dividends on common stock	—	—	—	(513)	—	(513)
Balance at June 30, 2024	9	398	18,786	3,244	5	22,433
Net income	—	—	—	1,050	—	1,050
Capital contributions from parent company	—	—	700	—	—	700
Other comprehensive income	—	—	—	—	1	1
Cash dividends on common stock	—	—	—	(512)	—	(512)
Other	—	—	—	(1)	—	(1)
Balance at September 30, 2024	9	$398	$19,486	$3,781	$6	$23,671
Balance at December 31, 2024	9	$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, 2025	9	398	20,410	3,606	12	24,426
Net income	—	—	—	607	—	607
Capital contributions from parent company	—	—	972	—	—	972
Other comprehensive income	—	—	—	—	4	4
Cash dividends on common stock	—	—	—	(553)	—	(553)
Other	—	—	—	1	—	1
Balance at June 30, 2025	9	398	21,382	3,661	16	25,457
Net income	—	—	—	1,248	—	1,248
Capital contributions from parent company	—	—	73	—	—	73
Cash dividends on common stock	—	—	—	(552)	—	(552)
Other	—	—	—	1	—	1
Balance at September 30, 2025	9	$398	$21,455	$4,358	$16	$26,227

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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.