ALABAMA POWER CO

For the period ended Sep 30, 2026. Filed Nov 5, 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.

Sep 30, 2026 · Filed Nov 5, 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 September 30,		For the Nine Months Ended September 30,
	2026	2025	2026	2025
(in millions) · (in millions)
Net Income	$21	$25	$593	$549
Other comprehensive loss:
Qualifying hedges:
Changes in fair value, net of tax of $(2), $(3), $(1), and $(1), respectively	(6)	(8)	(4)	(2)
Reclassification adjustment for amounts included in net income, net of tax of $1, $—, $(1), and $1, respectively	2	1	(2)	1
Pension and other postretirement benefit plans:
Reclassification adjustment for amounts included in net income, net of tax of $—, $—, $(1), and $—, respectively	—	—	(1)	(1)
Total other comprehensive loss	(4)	(7)	(7)	(2)
Comprehensive Income	$17	$18	$586	$547

	For the Nine Months Ended September 30,
	2026	2025
(in millions)
Operating Activities:
Net income	$593	$549
Adjustments to reconcile net income to net cash provided from operating activities —
Depreciation and amortization, total	559	512
Deferred income taxes	113	188
Other, net	6	—
Changes in certain current assets and liabilities —
-Receivables	521	328
-Natural gas for sale, net of temporary LIFO liquidation	(26)	(27)
-Natural gas cost under recovery	(28)	(18)
-Other current assets	(23)	(8)
-Accounts payable	(187)	(103)
-Natural gas cost over recovery	68	(30)
-Other current liabilities	(71)	(13)
Net cash provided from operating activities	1,525	1,378
Investing Activities:
Property additions	(1,359)	(1,207)
Contributions in aid of construction	49	28
Cost of removal, net of salvage	(67)	(70)
Change in construction payables, net	53	45
Capital contributions to unconsolidated subsidiaries	(153)	(43)
Returned investment in unconsolidated subsidiaries	17	128
Other investing activities	(1)	—
Net cash used for investing activities	(1,461)	(1,119)
Financing Activities:
Decrease in notes payable, net	(208)	(312)
Proceeds —
Senior notes	550	850
Other long-term debt	500	—
Redemptions —
Senior notes	(350)	—
First mortgage bonds	(150)	(50)
Return of capital to parent company	—	(23)
Capital contributions from parent company	36	40
Payment of common stock dividends	(422)	(446)
Other financing activities	(19)	(16)
Net cash provided from (used for) financing activities	(63)	43
Net Change in Cash, Cash Equivalents, and Restricted Cash	1	302
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period	15	44
Cash, Cash Equivalents, and Restricted Cash at End of Period	$16	$346
Supplemental Cash Flow Information:
Cash paid during the period for —
Interest (net of $9 and $12 capitalized for 2026 and 2025, respectively)	$338	$297
Income taxes, net	85	16
Noncash transactions —
Accrued property additions at end of period	165	87
Right-of-use assets obtained under operating leases	1	60
Return of capital to parent company	—	33

Assets	At September 30, 2026	At December 31, 2025
(in millions)
Current Assets:
Cash and cash equivalents	$12	$15
Receivables —
Customer accounts	239	490
Unbilled revenues	65	341
Other accounts and notes	68	57
Accumulated provision for uncollectible accounts	(53)	(50)
Materials and supplies	58	62
Natural gas for sale	419	396
Prepaid expenses	28	26
Other regulatory assets	171	114
Other current assets	53	66
Total current assets	1,060	1,517
Property, Plant, and Equipment:
In service	25,074	24,098
Less: Accumulated depreciation	6,553	6,273
Plant in service, net of depreciation	18,521	17,825
Construction work in progress	1,082	863
Total property, plant, and equipment	19,603	18,688
Other Property and Investments:
Goodwill	5,015	5,015
Equity investments in unconsolidated subsidiaries	1,296	1,182
Other intangible assets, net of amortization of $181 and $179, respectively	1	3
Miscellaneous property and investments	24	24
Total other property and investments	6,336	6,224
Deferred Charges and Other Assets:
Operating lease right-of-use assets, net of amortization	77	85
Prepaid pension and other postretirement benefit costs	307	229
Other regulatory assets, deferred	539	517
Other deferred charges and assets	134	127
Total deferred charges and other assets	1,057	958
Total Assets	$28,056	$27,387

Liabilities and Stockholder's Equity	At September 30, 2026	At December 31, 2025
(in millions)
Current Liabilities:
Securities due within one year	$185	$531
Notes payable	217	425
Accounts payable —
Affiliated	67	70
Other	447	553
Customer deposits	87	75
Accrued taxes	79	107
Accrued interest	75	100
Accrued compensation	136	137
Natural gas cost over recovery	225	158
Other regulatory liabilities	17	36
Other current liabilities	120	110
Total current liabilities	1,655	2,302
Long-Term Debt	9,600	8,743
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes	2,080	1,971
Deferred credits related to income taxes	661	681
Employee benefit obligations	134	78
Operating lease obligations	118	123
Other cost of removal obligations	2,002	1,921
Accrued environmental remediation	231	207
Other deferred credits and liabilities	241	234
Total deferred credits and other liabilities	5,467	5,215
Total Liabilities	16,722	16,260
Common Stockholder's Equity (See accompanying statements)	11,334	11,127
Total Liabilities and Stockholder's Equity	$28,056	$27,387

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