ALABAMA POWER CO

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

Sep 30, 2026 · Filed Nov 5, 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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Contents

Condensed Statements of Comprehensive Income

CONDENSED 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	$661	$588	$1,523	$1,343
Other comprehensive income:
Qualifying hedges:
Changes in fair value, net of tax of $—, $—, $—, and $—, respectively	1	—	—	—
Reclassification adjustment for amounts included in net income, net of tax of $—, $—, $—, and $1, respectively	—	1	—	2
Total other comprehensive income	1	1	—	2
Comprehensive Income	$662	$589	$1,523	$1,345

	For the Nine Months Ended September 30,
	2026	2025
(in millions)
Operating Activities:
Net income	$1,523	$1,343
Adjustments to reconcile net income to net cash provided from operating activities —
Depreciation and amortization, total	1,310	1,226
Deferred income taxes	89	127
Pension, postretirement, and other employee benefits	(155)	(148)
Settlement of asset retirement obligations	(188)	(202)
Retail fuel cost under recovery – long-term	(139)	(69)
Other, net	(39)	(75)
Changes in certain current assets and liabilities —
-Receivables	(220)	(125)
-Fossil fuel stock	107	71
-Prepayments	(34)	(56)
-Other current assets	(22)	10
-Accounts payable	(252)	(286)
-Accrued taxes	220	237
-Accrued compensation	(68)	(51)
-Customer refunds	2	(110)
-Other current liabilities	(30)	(92)
Net cash provided from operating activities	2,104	1,800
Investing Activities:
Property additions	(1,498)	(1,554)
Contributions in aid of construction	274	31
Business acquisition	—	(635)
Nuclear decommissioning trust fund purchases	(480)	(407)
Nuclear decommissioning trust fund sales	480	407
Cost of removal, net of salvage	(158)	(137)
Change in construction payables, net of joint owner portion	46	(52)
Other investing activities	(22)	(14)
Net cash used for investing activities	(1,358)	(2,361)
Financing Activities:
Proceeds —
Senior notes	—	1,100
Other long-term debt	—	4
Redemptions —
Senior notes	—	(250)
Other long-term debt	(45)	—
Capital contributions from parent company	307	591
Payment of common stock dividends	(902)	(914)
Other financing activities	6	(12)
Net cash provided from (used for) financing activities	(634)	519
Net Change in Cash, Cash Equivalents, and Restricted Cash	112	(42)
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period	566	585
Cash, Cash Equivalents, and Restricted Cash at End of Period	$678	$543
Supplemental Cash Flow Information:
Cash paid during the period for —
Interest (net of $17 and $16 capitalized for 2026 and 2025, respectively)	$380	$347
Income taxes, net	331	243
Noncash transactions —
Accrued property additions at end of period	147	96
Right-of-use assets obtained under operating leases	20	8
Right-of-use assets obtained under finance leases	3	4

Assets	At September 30, 2026	At December 31, 2025
(in millions)
Current Assets:
Cash and cash equivalents	$678	$566
Receivables —
Customer accounts	887	470
Unbilled revenues	183	189
Affiliated	111	126
Other accounts and notes	78	113
Accumulated provision for uncollectible accounts	(26)	(23)
Fossil fuel stock	196	303
Materials and supplies	741	732
Prepaid expenses	119	86
Other regulatory assets	363	344
Other current assets	90	80
Total current assets	3,420	2,986
Property, Plant, and Equipment:
In service	41,131	38,915
Less: Accumulated provision for depreciation	14,294	12,816
Plant in service, net of depreciation	26,837	26,099
Other utility plant, net	—	307
Nuclear fuel, at amortized cost	293	290
Construction work in progress	1,439	1,441
Total property, plant, and equipment	28,569	28,137
Other Property and Investments:
Nuclear decommissioning trusts, at fair value	1,614	1,542
Equity investments in unconsolidated subsidiaries	52	48
Miscellaneous property and investments	128	123
Total other property and investments	1,794	1,713
Deferred Charges and Other Assets:
Operating lease right-of-use assets, net of amortization	95	86
Deferred charges related to income taxes	264	261
Prepaid pension and other postretirement benefit costs	1,098	1,016
Regulatory assets – asset retirement obligations	1,515	1,518
Other regulatory assets, deferred	2,237	1,982
Other deferred charges and assets	439	425
Total deferred charges and other assets	5,648	5,288
Total Assets	$39,431	$38,124

Liabilities and Stockholder's Equity	At September 30, 2026	At December 31, 2025
(in millions)
Current Liabilities:
Securities due within one year	$852	$625
Accounts payable —
Affiliated	294	294
Other	452	576
Customer deposits	116	113
Accrued taxes	292	105
Accrued interest	101	134
Accrued compensation	238	275
Asset retirement obligations	263	256
Other regulatory liabilities	37	89
Other current liabilities	155	135
Total current liabilities	2,800	2,602
Long-Term Debt	11,123	11,388
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes	4,364	4,209
Deferred credits related to income taxes	1,569	1,585
Accumulated deferred ITCs	99	115
Employee benefit obligations	142	152
Operating lease obligations	85	78
Asset retirement obligations, deferred	3,352	3,423
Other regulatory liabilities, deferred	224	252
Other deferred credits and liabilities	746	326
Total deferred credits and other liabilities	10,581	10,140
Total Liabilities	24,504	24,130
Common Stockholder's Equity (See accompanying statements)	14,927	13,994
Total Liabilities and Stockholder's Equity	$39,431	$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
Net income	—	—	—	588	—	588
Capital contributions from parent company	—	—	31	—	—	31
Other comprehensive income	—	—	—	—	1	1
Cash dividends on common stock	—	—	—	(305)	—	(305)
Other	—	—	—	—	(1)	(1)
Balance at September 30, 2025	31	$1,222	$8,253	$4,643	$(4)	$14,114
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
Net income	—	—	—	661	—	661
Capital contributions from parent company	—	—	34	—	—	34
Other comprehensive income	—	—	—	—	1	1
Cash dividends on common stock	—	—	—	(301)	—	(301)
Other	—	—	—	1	—	1
Balance at September 30, 2026	31	$1,222	$8,576	$5,133	$(4)	$14,927

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