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 Statements of Comprehensive Income

CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED)

	For the Three Months Ended March 31,
	2026	2025
(in millions)
Net Income	$425	$375
Other comprehensive income:
Qualifying hedges:
Reclassification adjustment for amounts included in net income, net of tax of $— and $—, respectively	—	1
Total other comprehensive income	—	1
Comprehensive Income	$425	$376

	For the Three Months Ended March 31,
	2026	2025
(in millions)
Operating Activities:
Net income	$425	$375
Adjustments to reconcile net income to net cash provided from operating activities —
Depreciation and amortization, total	431	404
Deferred income taxes	62	81
Pension, postretirement, and other employee benefits	(59)	(52)
Settlement of asset retirement obligations	(57)	(61)
Other, net	(63)	(30)
Changes in certain current assets and liabilities —
-Receivables	101	41
-Prepayments	(84)	(103)
-Other current assets	(25)	25
-Accounts payable	(356)	(244)
-Accrued taxes	105	116
-Accrued compensation	(135)	(112)
-Customer refunds	3	(95)
-Other current liabilities	(47)	(118)
Net cash provided from operating activities	301	227
Investing Activities:
Property additions	(470)	(512)
Nuclear decommissioning trust fund purchases	(125)	(115)
Nuclear decommissioning trust fund sales	125	115
Cost of removal, net of salvage	(39)	(41)
Change in construction payables, net of joint owner portion	14	(29)
Other investing activities	(14)	(9)
Net cash used for investing activities	(509)	(591)
Financing Activities:
Increase in notes payable, net	30	—
Proceeds —
Senior notes	—	500
Other long-term debt	—	2
Redemptions — Other long-term debt	(45)	—
Capital contributions from parent company	225	525
Payment of common stock dividends	(301)	(305)
Other financing activities	8	(4)
Net cash provided from (used for) financing activities	(83)	718
Net Change in Cash, Cash Equivalents, and Restricted Cash	(291)	354
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period	566	585
Cash, Cash Equivalents, and Restricted Cash at End of Period	$275	$939
Supplemental Cash Flow Information:
Cash paid during the period for —
Interest (net of $6 and $5 capitalized for 2026 and 2025, respectively)	$153	$139
Noncash transactions —
Accrued property additions at end of period	115	119
Right-of-use assets obtained under operating leases	9	1

Assets	At March 31, 2026	At December 31, 2025
(in millions)
Current Assets:
Cash and cash equivalents	$275	$566
Receivables —
Customer accounts	460	470
Unbilled revenues	158	189
Affiliated	142	126
Other accounts and notes	54	113
Accumulated provision for uncollectible accounts	(25)	(23)
Fossil fuel stock	289	303
Materials and supplies	745	732
Prepaid expenses	170	86
Other regulatory assets	353	344
Other current assets	85	80
Total current assets	2,706	2,986
Property, Plant, and Equipment:
In service	40,185	38,915
Less: Accumulated provision for depreciation	13,754	12,816
Plant in service, net of depreciation	26,431	26,099
Other utility plant, net	—	307
Nuclear fuel, at amortized cost	285	290
Construction work in progress	1,550	1,441
Total property, plant, and equipment	28,266	28,137
Other Property and Investments:
Nuclear decommissioning trusts, at fair value	1,510	1,542
Equity investments in unconsolidated subsidiaries	49	48
Miscellaneous property and investments	123	123
Total other property and investments	1,682	1,713
Deferred Charges and Other Assets:
Operating lease right-of-use assets, net of amortization	91	86
Deferred charges related to income taxes	262	261
Prepaid pension and other postretirement benefit costs	1,046	1,016
Regulatory assets – asset retirement obligations	1,572	1,518
Other regulatory assets, deferred	2,070	1,982
Other deferred charges and assets	456	425
Total deferred charges and other assets	5,497	5,288
Total Assets	$38,151	$38,124

Liabilities and Stockholder's Equity	At March 31, 2026	At December 31, 2025
(in millions)
Current Liabilities:
Securities due within one year	$462	$625
Notes payable	30	—
Accounts payable —
Affiliated	200	294
Other	351	576
Customer deposits	114	113
Accrued taxes	211	105
Accrued interest	96	134
Accrued compensation	153	275
Asset retirement obligations	258	256
Other regulatory liabilities	70	89
Other current liabilities	131	135
Total current liabilities	2,076	2,602
Long-term Debt	11,507	11,388
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes	4,313	4,209
Deferred credits related to income taxes	1,560	1,585
Accumulated deferred ITCs	113	115
Employee benefit obligations	149	152
Operating lease obligations	81	78
Asset retirement obligations, deferred	3,404	3,423
Other regulatory liabilities, deferred	239	252
Other deferred credits and liabilities	365	326
Total deferred credits and other liabilities	10,224	10,140
Total Liabilities	23,807	24,130
Common Stockholder's Equity (See accompanying statements)	14,344	13,994
Total Liabilities and Stockholder's Equity	$38,151	$38,124

	Number ofCommonSharesIssued	CommonStock	Paid-InCapital	RetainedEarnings	AccumulatedOtherComprehensiveIncome (Loss)	Total
(in millions)
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
Balance at December 31, 2025	31	$1,222	$8,263	$4,512	$(3)	$13,994
Net income	—	—	—	425	—	425
Capital contributions from parent company	—	—	226	—	—	226
Cash dividends on common stock	—	—	—	(301)	—	(301)
Balance at March 31, 2026	31	$1,222	$8,489	$4,636	$(3)	$14,344

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