ALABAMA POWER CO

For the period ended Jun 30, 2026. Filed Jul 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.

Jun 30, 2026 · Filed Jul 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

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED)

	For the Three Months Ended June 30,		For the Six Months Ended June 30,
	2026	2025	2026	2025
(in millions) · (in millions)
Net Income	$126	$106	$573	$524
Other comprehensive income (loss):
Qualifying hedges:
Changes in fair value, net of tax of $(1), $(2), $1, and $2, respectively	(3)	(6)	2	6
Reclassification adjustment for amounts included in net income, net of tax of $1, $—, $(2), and $—, respectively	2	(1)	(4)	—
Pension and other postretirement benefit plans:
Reclassification adjustment for amounts included in net income, net of tax of $—, $—, $—, and $—, respectively	—	—	(1)	(1)
Total other comprehensive income (loss)	(1)	(7)	(3)	5
Comprehensive Income	$125	$99	$570	$529

	For the Six Months Ended June 30,
	2026	2025
(in millions)
Operating Activities:
Net income	$573	$524
Adjustments to reconcile net income to net cash provided from operating activities —
Depreciation and amortization, total	366	338
Deferred income taxes	89	67
Other, net	40	26
Changes in certain current assets and liabilities —
-Receivables	427	209
-Natural gas for sale, net of temporary LIFO liquidation	197	233
-Other current assets	(12)	37
-Accounts payable	(152)	(105)
-Accrued compensation	(39)	(44)
-Natural gas cost over recovery	34	(87)
-Other current liabilities	(15)	12
Net cash provided from operating activities	1,508	1,210
Investing Activities:
Property additions	(799)	(704)
Contributions in aid of construction	11	27
Cost of removal, net of salvage	(39)	(42)
Change in construction payables, net	26	15
Capital contributions to unconsolidated subsidiaries	(93)	(31)
Other investing activities	5	—
Net cash used for investing activities	(889)	(735)
Financing Activities:
Increase (decrease) in notes payable, net	(190)	16
Proceeds — Other long-term debt	500	—
Redemptions —
Senior notes	(350)	—
First mortgage bonds	(100)	—
Return of capital to parent company	—	(23)
Capital contributions from parent company	22	22
Payment of common stock dividends	(281)	(297)
Other financing activities	(17)	(12)
Net cash used for financing activities	(416)	(294)
Net Change in Cash, Cash Equivalents, and Restricted Cash	203	181
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period	15	44
Cash, Cash Equivalents, and Restricted Cash at End of Period	$218	$225
Supplemental Cash Flow Information:
Cash paid during the period for —
Interest (net of $7 and $9 capitalized for 2026 and 2025, respectively)	$201	$185
Income taxes, net	55	66
Noncash transactions —
Accrued property additions at end of period	138	101
Right-of-use assets obtained under operating leases	1	60
Return of capital to parent company	—	33

Assets	At June 30, 2026	At December 31, 2025
(in millions)
Current Assets:
Cash and cash equivalents	$214	$15
Receivables —
Customer accounts	326	490
Unbilled revenues	85	341
Other accounts and notes	61	57
Accumulated provision for uncollectible accounts	(65)	(50)
Materials and supplies	61	62
Natural gas for sale	198	396
Prepaid expenses	35	26
Other regulatory assets	117	114
Other current assets	49	66
Total current assets	1,081	1,517
Property, Plant, and Equipment:
In service	24,726	24,098
Less: Accumulated depreciation	6,489	6,273
Plant in service, net of depreciation	18,237	17,825
Construction work in progress	969	863
Total property, plant, and equipment	19,206	18,688
Other Property and Investments:
Goodwill	5,015	5,015
Equity investments in unconsolidated subsidiaries	1,254	1,182
Other intangible assets, net of amortization of $181 and $179, respectively	1	3
Miscellaneous property and investments	25	24
Total other property and investments	6,295	6,224
Deferred Charges and Other Assets:
Operating lease right-of-use assets, net of amortization	80	85
Prepaid pension and other postretirement benefit costs	301	229
Other regulatory assets, deferred	508	517
Other deferred charges and assets	133	127
Total deferred charges and other assets	1,022	958
Total Assets	$27,604	$27,387

Liabilities and Stockholder's Equity	At June 30, 2026	At December 31, 2025
(in millions)
Current Liabilities:
Securities due within one year	$80	$531
Notes payable	235	425
Accounts payable —
Affiliated	75	70
Other	439	553
Customer deposits	75	75
Accrued taxes	111	107
Accrued interest	102	100
Accrued compensation	98	137
Natural gas cost over recovery	191	158
Other regulatory liabilities	36	36
Other current liabilities	96	110
Total current liabilities	1,538	2,302
Long-term Debt	9,224	8,743
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes	2,059	1,971
Deferred credits related to income taxes	667	681
Employee benefit obligations	135	78
Operating lease obligations	120	123
Other cost of removal obligations	1,981	1,921
Accrued environmental remediation	201	207
Other deferred credits and liabilities	238	234
Total deferred credits and other liabilities	5,401	5,215
Total Liabilities	16,163	16,260
Common Stockholder's Equity (See accompanying statements)	11,441	11,127
Total Liabilities and Stockholder's Equity	$27,604	$27,387

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