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 (Loss)

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (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 (Loss)	$80	$(1)	$54	$46
Other comprehensive loss:
Qualifying hedges:
Changes in fair value, net of tax of $—, $(2), $(5), and $15, respectively	(1)	(6)	(15)	45
Reclassification adjustment for amounts included in net income, net of tax of $—, $—, $4. and $(15), respectively	—	1	13	(46)
Total other comprehensive loss	(1)	(5)	(2)	(1)
Comprehensive Income (Loss)	79	(6)	52	45
Comprehensive income (loss) attributable to noncontrolling interests	28	(4)	24	(95)
Comprehensive Income (Loss) Attributable to Southern Power	$51	$(2)	$28	$140

	For the Nine Months Ended September 30,
	2026	2025
(in millions)
Operating Activities:
Net income	$54	$46
Adjustments to reconcile net income to net cash provided from operating activities —
Depreciation and amortization, total	833	593
Deferred income taxes	(117)	(27)
Utilization of federal tax credit carryforward	197	(95)
Amortization of ITCs	(44)	(44)
Loss on damaged equipment	22	—
Other, net	(10)	16
Changes in certain current assets and liabilities —
-Receivables	(53)	19
-Other current assets	22	3
-Accounts payable	(5)	(25)
-Accrued taxes	18	52
-Other current liabilities	11	(17)
Net cash provided from operating activities	928	521
Investing Activities:
Property additions	(600)	(620)
Change in construction payables	3	78
Payments pursuant to LTSAs	(47)	(42)
Other investing activities	(3)	—
Net cash used for investing activities	(647)	(584)
Financing Activities:
Increase (decrease) in notes payable, net	(138)	2
Proceeds — Senior notes	600	1,100
Redemptions — Senior notes	(564)	—
Capital contributions from parent company	467	157
Capital contributions from noncontrolling interests	4	23
Distributions to noncontrolling interests	(127)	(118)
Payment of common stock dividends	(215)	(209)
Other financing activities	(11)	(13)
Net cash provided from financing activities	16	942
Net Change in Cash, Cash Equivalents, and Restricted Cash	297	879
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period	105	168
Cash, Cash Equivalents, and Restricted Cash at End of Period	$402	$1,047
Supplemental Cash Flow Information:
Cash paid (received) during the period for —
Interest (net of $31 and $15 capitalized for 2026 and 2025, respectively)	$75	$77
Income taxes, net (excludes credit transfers)	(129)	163
Noncash transactions —
Accrued property additions at end of period	66	138
Right-of-use assets obtained under operating leases	—	2

Assets	At September 30, 2026	At December 31, 2025
(in millions)
Current Assets:
Cash and cash equivalents	$402	$105
Receivables —
Customer accounts, net	184	151
Affiliated	44	35
Other	28	16
Materials and supplies	138	132
Prepaid income taxes	123	8
Other current assets	55	81
Total current assets	974	528
Property, Plant, and Equipment:
In service	15,566	15,034
Less: Accumulated provision for depreciation	5,580	5,214
Plant in service, net of depreciation	9,986	9,820
Construction work in progress	699	1,080
Total property, plant, and equipment	10,685	10,900
Other Property and Investments:
Intangible assets, net of amortization of $203 and $188, respectively	189	203
Net investment in sales-type leases	132	137
Total other property and investments	321	340
Deferred Charges and Other Assets:
Operating lease right-of-use assets, net of amortization	472	479
Prepaid LTSAs	201	170
Other deferred charges and assets	268	240
Total deferred charges and other assets	941	889
Total Assets	$12,921	$12,657

Liabilities and Stockholders' Equity	At September 30, 2026	At December 31, 2025
(in millions)
Current Liabilities:
Securities due within one year	$—	$587
Notes payable	—	138
Accounts payable —
Affiliated	88	88
Other	104	93
Accrued taxes	28	9
Accrued interest	46	38
Accrued compensation	35	36
Operating lease obligations	31	31
Contract retention	22	28
Other current liabilities	23	28
Total current liabilities	377	1,076
Long-Term Debt	2,951	2,353
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes	795	579
Accumulated deferred ITCs	1,339	1,383
Operating lease obligations, deferred	507	510
Other deferred credits and liabilities	254	235
Total deferred credits and other liabilities	2,895	2,707
Total Liabilities	6,223	6,136
Total Stockholders' Equity (See accompanying statements)	6,698	6,521
Total Liabilities and Stockholders' Equity	$12,921	$12,657

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