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

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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 September 30,		For the Nine Months Ended September 30,
	2026	2025	2026	2025
(in millions) · (in millions)
Operating Revenues:
Retail revenues	$302	$302	$857	$824
Wholesale revenues, non-affiliates	89	72	251	205
Wholesale revenues, affiliates	98	94	229	230
Other revenues	8	12	35	42
Total operating revenues	497	480	1,372	1,301
Operating Expenses:
Fuel and purchased power	180	179	508	488
Other operations and maintenance	97	94	291	261
Depreciation and amortization	56	53	170	157
Taxes other than income taxes	37	37	109	106
Total operating expenses	370	363	1,078	1,012
Operating Income	127	117	294	289
Other Income and (Expense):
Interest expense, net of amounts capitalized	(21)	(19)	(62)	(59)
Other income (expense), net	10	10	30	26
Total other income and (expense)	(11)	(9)	(32)	(33)
Earnings Before Income Taxes	116	108	262	256
Income taxes	27	24	61	58
Net Income and Comprehensive Income	$89	$84	$201	$198

	For the Nine Months Ended September 30,
	2026	2025
(in millions)
Operating Activities:
Net income	$201	$198
Adjustments to reconcile net income to net cash provided from operating activities —
Depreciation and amortization, total	187	173
Deferred income taxes	17	(7)
Pension, postretirement, and other employee benefits	(14)	(14)
Settlement of asset retirement obligations	(16)	(14)
Plant acquisition regulatory liability	—	36
Other, net	3	(6)
Changes in certain current assets and liabilities —
-Receivables	(61)	(24)
-Retail fuel cost under recovery	9	(30)
-Fossil fuel stock	13	24
-Prepaid income taxes	—	11
-Other current assets	(16)	(2)
-Accounts payable	(24)	(12)
-Accrued taxes	(6)	10
-Accrued interest	(12)	(10)
-Accrued compensation	(10)	(10)
-Wholesale fuel cost over recovery	—	(20)
-Other current liabilities	(6)	(4)
Net cash provided from operating activities	265	299
Investing Activities:
Property additions	(281)	(232)
Contributions in aid of construction	4	57
Cost of removal, net of salvage	(26)	(44)
Change in construction payables, net	7	(27)
Payments pursuant to LTSAs	(17)	(15)
Other investing activities	(2)	(2)
Net cash used for investing activities	(315)	(263)
Financing Activities:
Decrease in notes payable, net	—	(14)
Proceeds —
Senior notes	75	100
Other long-term debt	150	—
Redemptions —
Senior notes	(65)	—
Revenue bonds	—	(11)
Capital contributions from parent company	99	57
Payment of common stock dividends	(144)	(145)
Other financing activities	(2)	(2)
Net cash provided from (used for) financing activities	113	(15)
Net Change in Cash, Cash Equivalents, and Restricted Cash	63	21
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period	26	13
Cash, Cash Equivalents, and Restricted Cash at End of Period	$89	$34
Supplemental Cash Flow Information:
Cash paid during the period for —
Interest	$73	$69
Income taxes, net	29	25
Noncash transactions —
Accrued property additions at end of period	46	22
Right-of-use assets obtained under operating leases	4	—

Assets	At September 30, 2026	At December 31, 2025
(in millions)
Current Assets:
Cash and cash equivalents	$89	$26
Receivables —
Customer accounts, net	81	50
Unbilled revenues	47	44
Under recovered retail fuel clause revenues	31	—
Affiliated	55	26
Other accounts and notes	19	22
Fossil fuel stock	33	46
Materials and supplies	104	101
Other regulatory assets	65	49
Other current assets	18	10
Total current assets	542	374
Property, Plant, and Equipment:
In service	6,148	5,972
Less: Accumulated provision for depreciation	2,065	1,922
Plant in service, net of depreciation	4,083	4,050
Construction work in progress	265	238
Total property, plant, and equipment	4,348	4,288
Other Property and Investments	138	143
Deferred Charges and Other Assets:
Deferred charges related to income taxes	24	25
Prepaid pension costs	167	151
Deferred under recovered retail fuel clause revenues	—	40
Regulatory assets – asset retirement obligations	228	229
Other regulatory assets, deferred	246	255
Accumulated deferred income taxes	53	66
Other deferred charges and assets	82	66
Total deferred charges and other assets	800	832
Total Assets	$5,828	$5,637

Liabilities and Stockholder's Equity	At September 30, 2026	At December 31, 2025
(in millions)
Current Liabilities:
Securities due within one year	$76	$66
Accounts payable —
Affiliated	77	70
Other	66	77
Accrued taxes	121	125
Accrued compensation	43	49
Asset retirement obligations	17	21
Other regulatory liabilities	23	20
Other current liabilities	83	92
Total current liabilities	506	520
Long-Term Debt	1,870	1,720
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes	500	491
Deferred credits related to income taxes	191	211
Employee benefit obligations	65	67
Asset retirement obligations, deferred	95	103
Other cost of removal obligations	98	115
Other regulatory liabilities, deferred	137	141
Other deferred credits and liabilities	20	80
Total deferred credits and other liabilities	1,106	1,208
Total Liabilities	3,482	3,448
Common Stockholder's Equity (See accompanying statements)	2,346	2,189
Total Liabilities and Stockholder's Equity	$5,828	$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
Net income	—	—	—	84	—	84
Capital contributions from parent company	—	—	1	—	—	1
Cash dividends on common stock	—	—	—	(48)	—	(48)
Other	—	—	—	(1)	—	(1)
Balance at September 30, 2025	1	$38	$4,850	$(2,692)	$4	$2,200
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
Net income	—	—	—	89	—	89
Capital contributions from parent company	—	—	3	—	—	3
Cash dividends on common stock	—	—	—	(48)	—	(48)
Balance at September 30, 2026	1	$38	$4,971	$(2,667)	$4	$2,346

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