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Midas Edge

ALABAMA POWER CO

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

View on SEC.gov

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

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits
Contents

Condensed Statements of Comprehensive Income

CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED)

For the Three Months Ended March 31,
20262025
(in millions)
Net Income$628$596
Other comprehensive income (loss):
Qualifying hedges:
Changes in fair value, net of tax of $— and $(1), respectively—(1)
Total other comprehensive income (loss)—(1)
Comprehensive Income$628$595
For the Three Months Ended March 31,
20262025
(in millions)
Operating Activities:
Net income$628$596
Adjustments to reconcile net income to net cash provided from operating activities —
Depreciation and amortization, total556577
Deferred income taxes9591
Allowance for equity funds used during construction(97)(48)
Pension, postretirement, and other employee benefits(78)(74)
Settlement of asset retirement obligations(67)(66)
Storm damage cost recovery – long-term(93)(173)
Other, net(27)(38)
Changes in certain current assets and liabilities —
-Receivables14094
-Retail fuel cost under recovery7883
-Prepaid income taxes(55)—
-Other current assets(90)(23)
-Accounts payable(131)(325)
-Accrued taxes(352)(355)
-Accrued compensation(75)(68)
-Other current liabilities(52)34
Net cash provided from operating activities380305
Investing Activities:
Property additions(1,906)(1,429)
Nuclear decommissioning trust fund purchases(316)(246)
Nuclear decommissioning trust fund sales316246
Cost of removal, net of salvage(100)(103)
Change in construction payables, net of joint owner portion(271)(160)
Other investing activities(12)(27)
Net cash used for investing activities(2,289)(1,719)
Financing Activities:
Decrease in notes payable, net(135)—
Proceeds —
Senior notes—1,600
Short-term borrowings250—
FFB loan1,016—
Redemptions and repurchases —
Short-term borrowings(50)—
FFB loan(21)(21)
Capital contributions from parent company1,500700
Payment of common stock dividends(644)(552)
Other financing activities(42)(48)
Net cash provided from financing activities1,8741,679
Net Change in Cash, Cash Equivalents, and Restricted Cash(35)265
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period59118
Cash, Cash Equivalents, and Restricted Cash at End of Period$24$383
Supplemental Cash Flow Information:
Cash paid during the period for —
Interest (net of $31 and $16 capitalized for 2026 and 2025, respectively)$218$188
Noncash transactions —
Accrued property additions at end of period753551
Right-of-use assets obtained under operating leases62
Right-of-use assets obtained under finance leases213
AssetsAt March 31, 2026At December 31, 2025
(in millions)
Current Assets:
Cash and cash equivalents$24$59
Receivables —
Customer accounts, net929993
Unbilled revenues302346
Under recovered retail fuel clause revenues234310
Joint owner accounts98195
Affiliated8296
Other accounts and notes6961
Fossil fuel stock368362
Materials and supplies1,042994
Regulatory assets – asset retirement obligations222222
Other regulatory assets336335
Other current assets371285
Total current assets4,0774,258
Property, Plant, and Equipment:
In service60,44359,458
Less: Accumulated provision for depreciation16,23615,957
Plant in service, net of depreciation44,20743,501
Nuclear fuel, at amortized cost635606
Construction work in progress7,6236,764
Total property, plant, and equipment52,46550,871
Other Property and Investments:
Nuclear decommissioning trusts, at fair value1,3781,405
Equity investments in unconsolidated subsidiaries3740
Miscellaneous property and investments231231
Total other property and investments1,6461,676
Deferred Charges and Other Assets:
Operating lease right-of-use assets, net of amortization1,0831,120
Deferred charges related to income taxes738660
Prepaid pension costs1,1421,099
Deferred under recovered retail fuel clause revenues210212
Regulatory assets – asset retirement obligations, deferred3,3973,382
Other regulatory assets, deferred4,1664,032
Other deferred charges and assets796767
Total deferred charges and other assets11,53211,272
Total Assets$69,720$68,077
Liabilities and Stockholder's EquityAt March 31, 2026At December 31, 2025
(in millions)
Current Liabilities:
Securities due within one year$2,266$1,370
Notes payable225160
Accounts payable —
Affiliated778992
Other1,5121,728
Customer deposits273267
Accrued taxes326678
Accrued interest207234
Accrued compensation177327
Operating lease obligations174170
Asset retirement obligations355360
Other regulatory liabilities3552
Other current liabilities268332
Total current liabilities6,5966,670
Long-term Debt20,16920,122
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes4,9204,811
Deferred credits related to income taxes2,1982,225
Accumulated deferred ITCs417354
Employee benefit obligations177189
Operating lease obligations, deferred924960
Asset retirement obligations, deferred5,1585,167
Other deferred credits and liabilities642545
Total deferred credits and other liabilities14,43614,251
Total Liabilities41,20141,043
Common Stockholder's Equity (See accompanying statements)28,51927,034
Total Liabilities and Stockholder's Equity$69,720$68,077
Number ofCommonSharesIssuedCommonStockPaid-InCapitalRetainedEarningsAccumulatedOtherComprehensiveIncome (Loss)Total
(in millions)
Balance at December 31, 20249$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, 20259$398$20,410$3,606$12$24,426
Balance at December 31, 20259$398$22,416$4,204$16$27,034
Net income———628—628
Capital contributions from parent company——1,500——1,500
Cash dividends on common stock———(644)—(644)
Other———1—1
Balance at March 31, 20269$398$23,916$4,189$16$28,519
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.