ALABAMA POWER CO

For the period ended Mar 31, 2026. Filed Apr 30, 2026.

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.

Mar 31, 2026 · Filed Apr 30, 2026

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 March 31,
	2026	2025
(in millions)
Net Income (Loss)	$(14)	$23
Other comprehensive income:
Qualifying hedges:
Changes in fair value, net of tax of $(2) and $5, respectively	(8)	16
Reclassification adjustment for amounts included in net income, net of tax of $3 and $(5), respectively	10	(14)
Total other comprehensive income	2	2
Comprehensive Income (Loss)	(12)	25
Comprehensive loss attributable to noncontrolling interests	(18)	(64)
Comprehensive Income Attributable to Southern Power	$6	$89

	For the Three Months Ended March 31,
	2026	2025
(in millions)
Operating Activities:
Net income	$(14)	$23
Adjustments to reconcile net income to net cash provided from operating activities —
Depreciation and amortization, total	283	158
Deferred income taxes	(27)	5
Amortization of ITCs	(15)	(15)
Loss on damaged equipment	20	—
Other, net	—	1
Changes in certain current assets and liabilities —
-Receivables	23	(5)
-Income taxes receivable	(43)	(6)
-Other current assets	14	5
-Accounts payable	(46)	(27)
-Accrued compensation	(15)	(15)
-Other current liabilities	13	22
Net cash provided from operating activities	193	146
Investing Activities:
Property additions	(119)	(187)
Change in construction payables	2	39
Payments pursuant to LTSAs	(14)	(13)
Other investing activities	2	—
Net cash used for investing activities	(129)	(161)
Financing Activities:
Increase in notes payable, net	23	—
Capital contributions from parent company	—	130
Capital contributions from noncontrolling interests	4	19
Distributions to noncontrolling interests	(47)	(37)
Payment of common stock dividends	(72)	(70)
Other financing activities	(5)	(3)
Net cash provided from (used for) financing activities	(97)	39
Net Change in Cash, Cash Equivalents, and Restricted Cash	(33)	24
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period	105	168
Cash, Cash Equivalents, and Restricted Cash at End of Period	$72	$192
Supplemental Cash Flow Information:
Cash paid during the period for —
Interest (net of $10 and $3 capitalized for 2026 and 2025, respectively)	$13	$22
Income taxes, net (excludes credit transfers)	1	—
Noncash transactions —
Accrued property additions at end of period	55	99
Right-of-use assets obtained under operating leases	—	2

Assets	At March 31, 2026	At December 31, 2025
(in millions)
Current Assets:
Cash and cash equivalents	$72	$105
Receivables —
Customer accounts, net	141	151
Affiliated	22	35
Other	62	16
Materials and supplies	135	132
Other current assets	77	89
Total current assets	509	528
Property, Plant, and Equipment:
In service	15,342	15,034
Less: Accumulated provision for depreciation	5,488	5,214
Plant in service, net of depreciation	9,854	9,820
Construction work in progress	867	1,080
Total property, plant, and equipment	10,721	10,900
Other Property and Investments:
Intangible assets, net of amortization of $193 and $188, respectively	199	203
Net investment in sales-type leases	135	137
Total other property and investments	334	340
Deferred Charges and Other Assets:
Operating lease right-of-use assets, net of amortization	477	479
Prepaid LTSAs	183	170
Other deferred charges and assets	250	240
Total deferred charges and other assets	910	889
Total Assets	$12,474	$12,657

Liabilities and Stockholders' Equity	At March 31, 2026	At December 31, 2025
(in millions)
Current Liabilities:
Securities due within one year	$575	$587
Notes payable	160	138
Accounts payable —
Affiliated	58	88
Other	78	93
Accrued taxes	13	9
Accrued interest	46	38
Operating lease obligations	31	31
Other current liabilities	77	92
Total current liabilities	1,038	1,076
Long-term Debt	2,353	2,353
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes	571	579
Accumulated deferred ITCs	1,368	1,383
Operating lease obligations, deferred	508	510
Other deferred credits and liabilities	242	235
Total deferred credits and other liabilities	2,689	2,707
Total Liabilities	6,080	6,136
Total Stockholders' Equity (See accompanying statements)	6,394	6,521
Total Liabilities and Stockholders' Equity	$12,474	$12,657

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.