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

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Contents

Condensed Statements of Comprehensive Income

CONDENSED 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	$437	$381	$862	$755
Other comprehensive income (loss):
Qualifying hedges:
Changes in fair value, net of tax of $—, $—, $—, and $—, respectively	(2)	—	(2)	—
Reclassification adjustment for amounts included in net income, net of tax of $—, $—, $—, and $—, respectively	—	—	—	1
Total other comprehensive income (loss)	(2)	—	(2)	1
Comprehensive Income	$435	$381	$860	$756

	For the Six Months Ended June 30,
	2026	2025
(in millions)
Operating Activities:
Net income	$862	$755
Adjustments to reconcile net income to net cash provided from operating activities —
Depreciation and amortization, total	867	803
Deferred income taxes	88	116
Pension, postretirement, and other employee benefits	(115)	(89)
Settlement of asset retirement obligations	(114)	(120)
Retail fuel cost under recovery – long-term	(66)	(62)
Other, net	(57)	(44)
Changes in certain current assets and liabilities —
-Receivables	(6)	(94)
-Prepayments	(66)	(89)
-Other current assets	(21)	(8)
-Accounts payable	(277)	(251)
-Accrued taxes	72	25
-Accrued compensation	(111)	(93)
-Customer refunds	2	(110)
-Other current liabilities	20	(61)
Net cash provided from operating activities	1,078	678
Investing Activities:
Property additions	(958)	(1,065)
Contributions in aid of construction	157	31
Nuclear decommissioning trust fund purchases	(307)	(270)
Nuclear decommissioning trust fund sales	307	270
Cost of removal, net of salvage	(95)	(92)
Other investing activities	18	(43)
Net cash used for investing activities	(878)	(1,169)
Financing Activities:
Proceeds —
Senior notes	—	600
Other long-term debt	—	4
Redemptions —
Senior notes	—	(250)
Other long-term debt	(45)	—
Capital contributions from parent company	276	562
Payment of common stock dividends	(601)	(609)
Other financing activities	6	(7)
Net cash provided from (used for) financing activities	(364)	300
Net Change in Cash, Cash Equivalents, and Restricted Cash	(164)	(191)
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period	566	585
Cash, Cash Equivalents, and Restricted Cash at End of Period	$402	$394
Supplemental Cash Flow Information:
Cash paid during the period for —
Interest (net of $11 and $10 capitalized for 2026 and 2025, respectively)	$229	$205
Income taxes, net	217	217
Noncash transactions —
Accrued property additions at end of period	131	116
Right-of-use assets obtained under operating leases	11	7
Right-of-use assets obtained under finance leases	3	1

Assets	At June 30, 2026	At December 31, 2025
(in millions)
Current Assets:
Cash and cash equivalents	$402	$566
Receivables —
Customer accounts	587	470
Unbilled revenues	216	189
Affiliated	120	126
Other accounts and notes	84	113
Accumulated provision for uncollectible accounts	(23)	(23)
Fossil fuel stock	294	303
Materials and supplies	746	732
Prepaid expenses	152	86
Other regulatory assets	372	344
Other current assets	84	80
Total current assets	3,034	2,986
Property, Plant, and Equipment:
In service	40,731	38,915
Less: Accumulated provision for depreciation	14,001	12,816
Plant in service, net of depreciation	26,730	26,099
Other utility plant, net	—	307
Nuclear fuel, at amortized cost	276	290
Construction work in progress	1,386	1,441
Total property, plant, and equipment	28,392	28,137
Other Property and Investments:
Nuclear decommissioning trusts, at fair value	1,653	1,542
Equity investments in unconsolidated subsidiaries	53	48
Miscellaneous property and investments	123	123
Total other property and investments	1,829	1,713
Deferred Charges and Other Assets:
Operating lease right-of-use assets, net of amortization	89	86
Deferred charges related to income taxes	263	261
Prepaid pension and other postretirement benefit costs	1,061	1,016
Regulatory assets – asset retirement obligations	1,454	1,518
Other regulatory assets, deferred	2,146	1,982
Other deferred charges and assets	411	425
Total deferred charges and other assets	5,424	5,288
Total Assets	$38,679	$38,124

Liabilities and Stockholder's Equity	At June 30, 2026	At December 31, 2025
(in millions)
Current Liabilities:
Securities due within one year	$303	$625
Accounts payable —
Affiliated	263	294
Other	422	576
Customer deposits	115	113
Accrued taxes	187	105
Accrued interest	137	134
Accrued compensation	185	275
Asset retirement obligations	261	256
Other regulatory liabilities	58	89
Other current liabilities	148	135
Total current liabilities	2,079	2,602
Long-term Debt	11,670	11,388
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes	4,351	4,209
Deferred credits related to income taxes	1,535	1,585
Accumulated deferred ITCs	105	115
Employee benefit obligations	138	152
Operating lease obligations	80	78
Asset retirement obligations, deferred	3,387	3,423
Other regulatory liabilities, deferred	216	252
Other deferred credits and liabilities	587	326
Total deferred credits and other liabilities	10,399	10,140
Total Liabilities	24,148	24,130
Common Stockholder's Equity (See accompanying statements)	14,531	13,994
Total Liabilities and Stockholder's Equity	$38,679	$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
Net income	—	—	—	381	—	381
Capital contributions from parent company	—	—	38	—	—	38
Cash dividends on common stock	—	—	—	(304)	—	(304)
Other	—	—	—	(1)	1	—
Balance at June 30, 2025	31	$1,222	$8,222	$4,360	$(4)	$13,800
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
Net income	—	—	—	437	—	437
Capital contributions from parent company	—	—	53	—	—	53
Other comprehensive income (loss)	—	—	—	—	(2)	(2)
Cash dividends on common stock	—	—	—	(300)	—	(300)
Other	—	—	—	(1)	—	(1)
Balance at June 30, 2026	31	$1,222	$8,542	$4,772	$(5)	$14,531

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