ALABAMA POWER CO
For the period ended Jun 30, 2026. Filed Jul 30, 2026.
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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
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Comprehensive Income (Loss)
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (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 (Loss) | $(11) | $24 | $(26) | $47 |
| Other comprehensive income (loss): | ||||
| Qualifying hedges: | ||||
| Changes in fair value, net of tax of $(2), $11, $(5), and $17, respectively | (7) | 35 | (14) | 52 |
| Reclassification adjustment for amounts included in net income, net of tax of $1, $(10), $4. and $(15), respectively | 4 | (33) | 13 | (48) |
| Total other comprehensive income (loss) | (3) | 2 | (1) | 4 |
| Comprehensive Income (Loss) | (14) | 26 | (27) | 51 |
| Comprehensive income (loss) attributable to noncontrolling interests | 14 | (27) | (4) | (91) |
| Comprehensive Income (Loss) Attributable to Southern Power | $(28) | $53 | $(23) | $142 |
| For the Six Months Ended June 30, | ||
|---|---|---|
| 2026 | 2025 | |
| (in millions) | ||
| Operating Activities: | ||
| Net income (loss) | $(26) | $47 |
| Adjustments to reconcile net income (loss) to net cash provided from operating activities — | ||
| Depreciation and amortization, total | 568 | 340 |
| Deferred income taxes | (75) | (2) |
| Utilization of federal tax credit carryforward | 130 | — |
| Amortization of ITCs | (29) | (29) |
| Loss on damaged equipment | 22 | — |
| Other, net | (9) | (18) |
| Changes in certain current assets and liabilities — | ||
| -Receivables | (47) | (69) |
| -Income taxes receivable | (39) | (2) |
| -Other current assets | (24) | 2 |
| -Accounts payable | (19) | (20) |
| -Accrued compensation | (11) | (11) |
| -Other current liabilities | 8 | (6) |
| Net cash provided from operating activities | 449 | 232 |
| Investing Activities: | ||
| Property additions | (399) | (392) |
| Payments pursuant to LTSAs | (28) | (26) |
| Other investing activities | 10 | — |
| Net cash used for investing activities | (417) | (418) |
| Financing Activities: | ||
| Increase (decrease) in notes payable, net | (135) | 201 |
| Proceeds — Senior notes | 600 | — |
| Redemptions — Senior notes | (564) | — |
| Capital contributions from parent company | 465 | 146 |
| Capital contributions from noncontrolling interests | 4 | 23 |
| Distributions to noncontrolling interests | (76) | (66) |
| Payment of common stock dividends | (143) | (139) |
| Other financing activities | (10) | (4) |
| Net cash provided from financing activities | 141 | 161 |
| Net Change in Cash, Cash Equivalents, and Restricted Cash | 173 | (25) |
| Cash, Cash Equivalents, and Restricted Cash at Beginning of Period | 105 | 168 |
| Cash, Cash Equivalents, and Restricted Cash at End of Period | $278 | $143 |
| Supplemental Cash Flow Information: | ||
| Cash paid (received) during the period for — | ||
| Interest (net of $21 and $8 capitalized for 2026 and 2025, respectively) | $61 | $59 |
| Income taxes, net (excludes credit transfers) | (61) | 52 |
| Noncash transactions — | ||
| Accrued property additions at end of period | 66 | 60 |
| Right-of-use assets obtained under operating leases | — | 2 |
| Assets | At June 30, 2026 | At December 31, 2025 |
|---|---|---|
| (in millions) | ||
| Current Assets: | ||
| Cash and cash equivalents | $278 | $105 |
| Receivables — | ||
| Customer accounts, net | 193 | 151 |
| Affiliated | 42 | 35 |
| Other | 52 | 16 |
| Materials and supplies | 136 | 132 |
| Prepaid income taxes | 52 | 8 |
| Other current assets | 61 | 81 |
| Total current assets | 814 | 528 |
| Property, Plant, and Equipment: | ||
| In service | 15,339 | 15,034 |
| Less: Accumulated provision for depreciation | 5,564 | 5,214 |
| Plant in service, net of depreciation | 9,775 | 9,820 |
| Construction work in progress | 944 | 1,080 |
| Total property, plant, and equipment | 10,719 | 10,900 |
| Other Property and Investments: | ||
| Intangible assets, net of amortization of $198 and $188, respectively | 194 | 203 |
| Net investment in sales-type leases | 133 | 137 |
| Total other property and investments | 327 | 340 |
| Deferred Charges and Other Assets: | ||
| Operating lease right-of-use assets, net of amortization | 474 | 479 |
| Prepaid LTSAs | 198 | 170 |
| Other deferred charges and assets | 248 | 240 |
| Total deferred charges and other assets | 920 | 889 |
| Total Assets | $12,780 | $12,657 |
| Liabilities and Stockholders' Equity | At June 30, 2026 | At December 31, 2025 |
|---|---|---|
| (in millions) | ||
| Current Liabilities: | ||
| Securities due within one year | $— | $587 |
| Notes payable | — | 138 |
| Accounts payable — | ||
| Affiliated | 76 | 88 |
| Other | 101 | 93 |
| Accrued taxes | 21 | 9 |
| Accrued interest | 32 | 38 |
| Operating lease obligations | 31 | 31 |
| Other current liabilities | 75 | 92 |
| Total current liabilities | 336 | 1,076 |
| Long-term Debt | 2,950 | 2,353 |
| Deferred Credits and Other Liabilities: | ||
| Accumulated deferred income taxes | 655 | 579 |
| Accumulated deferred ITCs | 1,354 | 1,383 |
| Operating lease obligations, deferred | 505 | 510 |
| Other deferred credits and liabilities | 238 | 235 |
| Total deferred credits and other liabilities | 2,752 | 2,707 |
| Total Liabilities | 6,038 | 6,136 |
| Total Stockholders' Equity (See accompanying statements) | 6,742 | 6,521 |
| Total Liabilities and Stockholders' Equity | $12,780 | $12,657 |
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