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 Statements of Income and Comprehensive Income

CONDENSED STATEMENTS OF INCOME AND 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)
Operating Revenues:
Retail revenues	$283	$274	$556	$522
Wholesale revenues, non-affiliates	74	62	162	133
Wholesale revenues, affiliates	35	55	131	136
Other revenues	11	9	26	30
Total operating revenues	403	400	875	821
Operating Expenses:
Fuel and purchased power	122	143	328	309
Other operations and maintenance	107	82	194	166
Depreciation and amortization	58	52	113	105
Taxes other than income taxes	36	36	72	69
Total operating expenses	323	313	707	649
Operating Income	80	87	168	172
Other Income and (Expense):
Interest expense, net of amounts capitalized	(21)	(20)	(41)	(40)
Other income (expense), net	9	9	19	16
Total other income and (expense)	(12)	(11)	(22)	(24)
Earnings Before Income Taxes	68	76	146	148
Income taxes	16	17	34	34
Net Income and Comprehensive Income	$52	$59	$112	$114

	For the Six Months Ended June 30,
	2026	2025
(in millions)
Operating Activities:
Net income	$112	$114
Adjustments to reconcile net income to net cash provided from operating activities —
Depreciation and amortization, total	125	115
Deferred income taxes	14	4
Pension, postretirement, and other employee benefits	(9)	(8)
Settlement of asset retirement obligations	(12)	(7)
Other, net	(3)	(7)
Changes in certain current assets and liabilities —
-Receivables	(11)	(26)
-Retail fuel cost under recovery	(14)	(28)
-Fossil fuel stock	—	20
-Other current assets	(8)	8
-Accounts payable	(23)	(22)
-Accrued taxes	(57)	(49)
-Accrued compensation	(21)	(22)
-Wholesale fuel cost over recovery	—	(15)
-Other current liabilities	—	1
Net cash provided from operating activities	93	78
Investing Activities:
Property additions	(185)	(166)
Contributions in aid of construction	4	57
Cost of removal, net of salvage	(18)	(17)
Payments pursuant to LTSAs	(11)	(11)
Other investing activities	1	(8)
Net cash used for investing activities	(209)	(145)
Financing Activities:
Increase in notes payable, net	38	18
Proceeds — Senior notes	75	100
Capital contributions from parent company	97	57
Payment of common stock dividends	(96)	(97)
Other financing activities	(2)	(2)
Net cash provided from financing activities	112	76
Net Change in Cash, Cash Equivalents, and Restricted Cash	(4)	9
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period	26	13
Cash, Cash Equivalents, and Restricted Cash at End of Period	$22	$22
Supplemental Cash Flow Information:
Cash paid during the period for —
Interest	$40	$37
Income taxes, net	23	21
Noncash transactions —
Accrued property additions at end of period	42	30
Right-of-use assets obtained under operating leases	3	—

Assets	At June 30, 2026	At December 31, 2025
(in millions)
Current Assets:
Cash and cash equivalents	$22	$26
Receivables —
Customer accounts, net	60	50
Unbilled revenues	48	44
Under recovered retail fuel clause revenues	55	—
Affiliated	27	26
Other accounts and notes	18	22
Fossil fuel stock	46	46
Materials and supplies	102	101
Other regulatory assets	58	49
Other current assets	14	10
Total current assets	450	374
Property, Plant, and Equipment:
In service	6,111	5,972
Less: Accumulated provision for depreciation	2,020	1,922
Plant in service, net of depreciation	4,091	4,050
Construction work in progress	223	238
Total property, plant, and equipment	4,314	4,288
Other Property and Investments	140	143
Deferred Charges and Other Assets:
Deferred charges related to income taxes	24	25
Prepaid pension costs	162	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	59	66
Other deferred charges and assets	81	66
Total deferred charges and other assets	813	832
Total Assets	$5,717	$5,637

Liabilities and Stockholder's Equity	At June 30, 2026	At December 31, 2025
(in millions)
Current Liabilities:
Securities due within one year	$141	$66
Notes payable	38	—
Accounts payable —
Affiliated	72	70
Other	69	77
Accrued taxes	70	125
Accrued compensation	30	49
Asset retirement obligations	18	21
Other regulatory liabilities	24	20
Other current liabilities	97	92
Total current liabilities	559	520
Long-term Debt	1,720	1,720
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes	501	491
Deferred credits related to income taxes	192	211
Employee benefit obligations	66	67
Asset retirement obligations, deferred	97	103
Other cost of removal obligations	103	115
Other regulatory liabilities, deferred	137	141
Other deferred credits and liabilities	40	80
Total deferred credits and other liabilities	1,136	1,208
Total Liabilities	3,415	3,448
Common Stockholder's Equity (See accompanying statements)	2,302	2,189
Total Liabilities and Stockholder's Equity	$5,717	$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
Net income	—	—	—	59	—	59
Capital contributions from parent company	—	—	7	—	—	7
Cash dividends on common stock	—	—	—	(49)	—	(49)
Other	—	—	—	1	—	1
Balance at June 30, 2025	1	$38	$4,849	$(2,727)	$4	$2,164
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
Net income	—	—	—	52	—	52
Capital contributions from parent company	—	—	7	—	—	7
Cash dividends on common stock	—	—	—	(48)	—	(48)
Balance at June 30, 2026	1	$38	$4,968	$(2,708)	$4	$2,302

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