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 Income and Comprehensive Income

CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (UNAUDITED)

	For the Three Months Ended March 31,
	2026	2025
(in millions)
Operating Revenues:
Retail revenues	$273	$248
Wholesale revenues, non-affiliates	87	71
Wholesale revenues, affiliates	97	81
Other revenues	15	20
Total operating revenues	472	420
Operating Expenses:
Fuel and purchased power	205	166
Other operations and maintenance	88	84
Depreciation and amortization	55	52
Taxes other than income taxes	36	33
Total operating expenses	384	335
Operating Income	88	85
Other Income and (Expense):
Interest expense, net of amounts capitalized	(20)	(20)
Other income (expense), net	10	6
Total other income and (expense)	(10)	(14)
Earnings Before Income Taxes	78	71
Income taxes	18	16
Net Income and Comprehensive Income	$60	$55

	For the Three Months Ended March 31,
	2026	2025
(in millions)
Operating Activities:
Net income	$60	$55
Adjustments to reconcile net income to net cash provided from operating activities —
Depreciation and amortization, total	61	56
Deferred income taxes	10	(7)
Pension, postretirement, and other employee benefits	(5)	(5)
Settlement of asset retirement obligations	(4)	(4)
Other, net	(5)	7
Changes in certain current assets and liabilities —
-Receivables	(9)	(16)
-Retail fuel cost under recovery	(15)	(13)
-Fossil fuel stock	(1)	13
-Other current assets	(2)	10
-Accounts payable	(28)	(4)
-Accrued taxes	(73)	(64)
-Accrued interest	(12)	(11)
-Accrued compensation	(26)	(23)
-Other current liabilities	—	(5)
Net cash used for operating activities	(49)	(11)
Investing Activities:
Property additions	(92)	(72)
Contributions in aid of construction	2	57
Cost of removal, net of salvage	(9)	(8)
Change in construction payables, net	(1)	(14)
Payments pursuant to LTSAs	(6)	(6)
Other investing activities	—	(1)
Net cash used for investing activities	(106)	(44)
Financing Activities:
Increase (decrease) in notes payable, net	32	(14)
Proceeds — Senior notes	75	100
Capital contributions from parent company	90	50
Payment of common stock dividends	(48)	(48)
Other financing activities	(1)	(1)
Net cash provided from financing activities	148	87
Net Change in Cash, Cash Equivalents, and Restricted Cash	(7)	32
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period	26	13
Cash, Cash Equivalents, and Restricted Cash at End of Period	$19	$45
Supplemental Cash Flow Information:
Cash paid during the period for —
Interest	$32	$30
Noncash transactions —
Accrued property additions at end of period	37	22
Right-of-use assets obtained under operating leases	3	—

Assets	At March 31, 2026	At December 31, 2025
(in millions)
Current Assets:
Cash and cash equivalents	$19	$26
Receivables —
Customer accounts, net	113	50
Unbilled revenues	39	44
Affiliated	31	26
Other accounts and notes	24	22
Fossil fuel stock	48	46
Materials and supplies	103	101
Other regulatory assets	52	49
Other current assets	7	10
Total current assets	436	374
Property, Plant, and Equipment:
In service	6,057	5,972
Less: Accumulated provision for depreciation	1,990	1,922
Plant in service, net of depreciation	4,067	4,050
Construction work in progress	248	238
Total property, plant, and equipment	4,315	4,288
Other Property and Investments	142	143
Deferred Charges and Other Assets:
Deferred charges related to income taxes	25	25
Prepaid pension costs	157	151
Deferred under recovered retail fuel clause revenues	—	40
Regulatory assets – asset retirement obligations	228	229
Other regulatory assets, deferred	259	255
Accumulated deferred income taxes	62	66
Other deferred charges and assets	79	66
Total deferred charges and other assets	810	832
Total Assets	$5,703	$5,637

Liabilities and Stockholder's Equity	At March 31, 2026	At December 31, 2025
(in millions)
Current Liabilities:
Securities due within one year	$65	$66
Notes payable	32	—
Accounts payable —
Affiliated	64	70
Other	60	77
Accrued taxes	52	125
Accrued compensation	25	49
Asset retirement obligations	19	21
Other regulatory liabilities	12	20
Other current liabilities	87	92
Total current liabilities	416	520
Long-term Debt	1,795	1,720
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes	499	491
Deferred credits related to income taxes	209	211
Employee benefit obligations	65	67
Asset retirement obligations, deferred	100	103
Other cost of removal obligations	110	115
Other regulatory liabilities, deferred	140	141
Other deferred credits and liabilities	78	80
Total deferred credits and other liabilities	1,201	1,208
Total Liabilities	3,412	3,448
Common Stockholder's Equity (See accompanying statements)	2,291	2,189
Total Liabilities and Stockholder's Equity	$5,703	$5,637

	Number ofCommonSharesIssued	CommonStock	Paid-InCapital	RetainedEarnings (Accumulated Deficit)	AccumulatedOtherComprehensiveIncome (Loss)	Total
(in millions)
Balance at December 31, 2024	1	$38	$4,791	$(2,745)	$5	$2,089
Net income	—	—	—	55	—	55
Capital contributions from parent company	—	—	51	—	—	51
Cash dividends on common stock	—	—	—	(48)	—	(48)
Other	—	—	—	—	(1)	(1)
Balance at March 31, 2025	1	$38	$4,842	$(2,738)	$4	$2,146
Balance at December 31, 2025	1	$38	$4,871	$(2,724)	$4	$2,189
Net income	—	—	—	60	—	60
Capital contributions from parent company	—	—	90	—	—	90
Cash dividends on common stock	—	—	—	(48)	—	(48)
Balance at March 31, 2026	1	$38	$4,961	$(2,712)	$4	$2,291

ContentsView on SEC.gov

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