FINANCING (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Schedule of maturities of long-term debt for the next five years

Maturities of long-term debt for the next five years are as follows:

	Southern Company(a)(b)		Alabama Power		Georgia Power(a)		Mississippi Power		Southern Power(b)		Southern Company Gas
	(in millions)
2020	$	2,991	$	251	$	1,025	$	281	$	825	$	—
2021	3,214		311		397		270		300		330
2022	2,003		751		527		—		677		46
2023	2,413		301		175		—		290		400
2024	492		22		477		—		—		—

(a) Amounts include principal amortization related to the FFB borrowings beginning in February 2020; however, the final maturity date is February 20, 2044. See "DOE Loan Guarantee Borrowings" herein for additional information.

(b)

Southern Power's 2022 maturity represents euro-denominated debt at the U.S. dollar denominated hedge settlement amount.

Summary of debt

Outstanding secured debt at December 31, 2019 and 2018 for the applicable Registrants was as follows:

	Georgia Power(a)		Mississippi  Power(b)		Southern Company  Gas(c)
	(in millions)
December 31, 2019	$	3,999	$	270	$	1,575
December 31, 2018	2,767		270		1,325

(a) Includes Georgia Power's FFB loans that are secured by a first priority lien on (i) Georgia Power's 45.7% undivided ownership interest in Plant Vogtle Units 3 and 4 (primarily the units under construction, the related real property, and any nuclear fuel loaded in the reactor core) and (ii) Georgia Power's rights and obligations under the principal contracts relating to Plant Vogtle Units 3 and 4. See "Long-term Debt – DOE Loan Guarantee Borrowings" herein for additional information. Also includes finance lease obligations of $156 million and $142 million at December 31, 2019 and 2018, respectively. See Note 9 for additional information on finance lease obligations.

(b) Represents revenue bonds assumed in conjunction with Mississippi Power's purchase of Plant Daniel Units 3 and 4 that are secured by Plant Daniel Units 3 and 4 and certain related personal property. See "Long-term Debt" herein for additional information.

(c)

Nicor Gas' first mortgage bonds are secured by substantially all of Nicor Gas' properties.

Summary of committed credit arrangements

At December 31, 2019, committed credit arrangements with banks were as follows:

	Expires
Company	2020		2022		2024		Total		Unused		Due within One Year
	(in millions)
Southern Company parent	$	—	$	—	$	2,000	$	2,000	$	1,999	$	—
Alabama Power	3		525		800		1,328		1,328		3
Georgia Power	—		—		1,750		1,750		1,733		—
Mississippi Power	—		150		—		150		150		—
Southern Power(a)	—		—		600		600		591		—
Southern Company Gas(b)	—		—		1,750		1,750		1,745		—
SEGCO	30		—		—		30		30		30
Southern Company	$	33	$	675	$	6,900	$	7,608	$	7,576	$	33

(a) Southern Power's subsidiaries are not parties to its bank credit arrangement.

(b)

Southern Company Gas, as the parent entity, guarantees the obligations of Southern Company Gas Capital, which is the borrower of $1.25 billion of this arrangement. Southern Company Gas' committed credit arrangement also includes $500 million for which Nicor Gas is the borrower and which is restricted for working capital needs of Nicor Gas. Pursuant to this multi-year credit arrangement, the allocations between Southern Company Gas Capital and Nicor Gas may be adjusted. See "Structural Considerations" herein for additional information.

Details of short-term borrowings

Details of short-term borrowings for the applicable Registrants were as follows:

	Notes Payable at December 31, 2019				Notes Payable at December 31, 2018
	Amount Outstanding		Weighted Average Interest Rate		Amount Outstanding		Weighted Average Interest Rate
	(in millions)				(in millions)
Southern Company
Commercial paper	$	1,705	2.1	%	$	1,064	3.0	%
Short-term bank debt	350		2.3	%	1,851		3.1	%
Total	$	2,055	2.1	%	$	2,915	3.1	%
Georgia Power
Commercial paper	$	115	2.1	%	$	294	3.1	%
Short-term bank debt	250		2.2	%	—		—	%
Total	$	365	2.2	%	$	294	3.1	%
Southern Power
Commercial paper	$	449	2.1	%	$	—	—	%
Short-term bank debt	100		2.6	%	100		3.1	%
Total	$	549	2.2	%	$	100	3.1	%
Southern Company Gas
Commercial paper:
Southern Company Gas Capital	$	372	2.1	%	$	403	3.1	%
Nicor Gas	278		1.8	%	247		3.0	%
Total	$	650	2.0	%	$	650	3.0	%

Shares used to compute diluted EPS

Shares used to compute diluted EPS were as follows:

	Average Common Stock Shares
	2019	2018	2017
	(in millions)
As reported shares	1,046	1,020	1,000
Effect of stock-based compensation	8	5	8
Diluted shares	1,054	1,025	1,008

Schedule of temporary equity

The following table presents changes during the year in redeemable preferred stock of subsidiaries for Southern Company:

	Redeemable Preferred Stock of Subsidiaries
	(in millions)
Balance at December 31, 2016:	$	118
Issued(a)	250
Redeemed(a)	(38		)
Issuance costs(a)	(6		)
Balance at December 31, 2017:	324
Redeemed(b)	(33		)
Balance at December 31, 2018 and 2019:	$	291

(a) See "Alabama Power" herein for additional information.

(b)

See "Mississippi Power" herein for additional information.

Information for each outstanding series is in the table below:

Preferred Stock	Par Value/Stated Capital Per Share	Shares Outstanding	Redemption Price Per Share
4.92% Preferred Stock	$100	80,000	$103.23
4.72% Preferred Stock	$100	50,000	$102.18
4.64% Preferred Stock	$100	60,000	$103.14
4.60% Preferred Stock	$100	100,000	$104.20
4.52% Preferred Stock	$100	50,000	$102.93
4.20% Preferred Stock	$100	135,115	$105.00
5.00% Class A Preferred Stock	$25	10,000,000	Stated Capital(*)

(*)

Prior to October 1, 2022: $25.50; on or after October 1, 2022: Stated Capital