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Common Stock and Stock Compensation (Tables)
12 Months Ended
Dec. 31, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Assumptions used in the pricing model and the weighted average grant-date fair value of stock options granted
The following table shows the assumptions used in the pricing model and the weighted average grant-date fair value of stock options granted:
 
Year Ended December 31
2012
 
2011
 
2010
Expected volatility
17.7%
 
17.5%
 
17.4%
Expected term (in years)
5.0
 
5.0
 
5.0
Interest rate
0.9%
 
2.3%
 
2.4%
Dividend yield
4.2%
 
4.8%
 
5.6%
Weighted average grant-date fair value
$3.39
 
$3.23
 
$2.23
Summary of stock option activity
Southern Company's activity in the stock option program for 2012 is summarized below:
 
 
Shares Subject to Option
 
Weighted Average Exercise Price    
Outstanding at December 31, 2011
40,956,822

 
$
33.88

Granted
7,153,669

 
44.50

Exercised
(12,120,419
)
 
32.76

Cancelled
(73,769
)
 
37.75

Outstanding at December 31, 2012
35,916,303

 
$
36.37

Exercisable at December 31, 2012
22,724,015

 
$
34.09

Assumptions used in the pricing model and the weighted average grant-date fair value of performance share award units granted
The following table shows the assumptions used in the pricing model and the weighted average grant-date fair value of performance share award units granted:
Year Ended December 31
2012
 
2011
 
2010
Expected volatility
16.0%
 
19.2%
 
20.7%
Expected term (in years)
3.0
 
3.0
 
3.0
Interest rate
0.4%
 
1.4%
 
1.4%
Annualized dividend rate
$1.89
 
$1.82
 
$1.75
Weighted average grant-date fair value
$41.99
 
$35.97
 
$30.13
Earnings per share
Shares used to compute diluted earnings per share were as follows:
 
 
Average Common Stock Shares    
 
2012
 
2011
 
2010
 
(in millions)  
As reported shares
871

 
857

 
832

Effect of options and performance share award units
8

 
7

 
5

Diluted shares
879

 
864

 
837

Gulf Power [Member]
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Assumptions used in the pricing model and the weighted average grant-date fair value of stock options granted
The following table shows the assumptions used in the pricing model and the weighted average grant-date fair value of stock options granted:
Year Ended December 31
2012
 
2011
 
2010
Expected volatility
17.7%
 
17.5%
 
17.4%
Expected term (in years)
5.0
 
5.0
 
5.0
Interest rate
0.9%
 
2.3%
 
2.4%
Dividend yield
4.2%
 
4.8%
 
5.6%
Weighted average grant-date fair value
$3.39
 
$3.23
 
$2.23
Summary of stock option activity
The Company's activity in the stock option program for 2012 is summarized below:
 
Shares Subject
to Option
 
Weighted Average    
Exercise Price    
Outstanding at December 31, 2011
1,498,663

 
$
33.75

Granted
244,607

 
44.43

Exercised
(353,749
)
 
31.97

Cancelled
(606
)
 
42.08

Outstanding at December 31, 2012
1,388,915

 
$
36.08

Exercisable at December 31, 2012
884,888

 
$
34.02

Assumptions used in the pricing model and the weighted average grant-date fair value of performance share award units granted
The following table shows the assumptions used in the pricing model and the weighted average grant-date fair value of performance share award units granted:
Year Ended December 31
2012
 
2011
 
2010
Expected volatility
16.0%
 
19.2%
 
20.7%
Expected term (in years)
3.0
 
3.0
 
3.0
Interest rate
0.4%
 
1.4%
 
1.4%
Annualized dividend rate
$1.89
 
$1.82
 
$1.75
Weighted average grant-date fair value
$41.99
 
$35.97
 
$30.13
Alabama Power [Member]
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Assumptions used in the pricing model and the weighted average grant-date fair value of stock options granted
The following table shows the assumptions used in the pricing model and the weighted average grant-date fair value of stock options granted:
 
Year Ended December 31
2012

 
2011

 
2010

Expected volatility
17.7
%
 
17.5
%
 
17.4
%
Expected term (in years)
5.0

 
5.0

 
5.0

Interest rate
0.9
%
 
2.3
%
 
2.4
%
Dividend yield
4.2
%
 
4.8
%
 
5.6
%
Weighted average grant-date fair value
$
3.39

 
$
3.23

 
$
2.23

Summary of stock option activity
The Company's activity in the stock option program for 2012 is summarized below:
 
 
Shares Subject to Option
 
Weighted Average Exercise Price
Outstanding at December 31, 2011
7,191,786

 
$
33.63

Granted
1,099,315

 
44.44

Exercised
(2,226,269
)
 
32.43

Cancelled
(4,280
)
 
38.74

Outstanding at December 31, 2012
6,060,552

 
$
36.02

Exercisable at December 31, 2012
3,884,089

 
$
33.84

Assumptions used in the pricing model and the weighted average grant-date fair value of performance share award units granted
The following table shows the assumptions used in the pricing model and the weighted average grant-date fair value of performance share award units granted:
Year Ended December 31
2012
 
2011
 
2010
Expected volatility
16.0%
 
19.2%
 
20.7%
Expected term (in years)
3.0
 
3.0
 
3.0
Interest rate
0.4%
 
1.4%
 
1.4%
Annualized dividend rate
$1.89
 
$1.82
 
$1.75
Weighted average grant-date fair value
$41.99
 
$35.97
 
$30.13
Georgia Power [Member]
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Assumptions used in the pricing model and the weighted average grant-date fair value of stock options granted
The following table shows the assumptions used in the pricing model and the weighted average grant-date fair value of stock options granted:
 
Year Ended December 31
2012

 
2011

 
2010

Expected volatility
17.7
%
 
17.5
%
 
17.4
%
Expected term (in years)
5.0

 
5.0

 
5.0

Interest rate
0.9
%
 
2.3
%
 
2.4
%
Dividend yield
4.2
%
 
4.8
%
 
5.6
%
Weighted average grant-date fair value
$
3.39

 
$
3.23

 
$
2.23

Summary of stock option activity
The Company's activity in the stock option program for 2012 is summarized below:
 
Shares Subject to Option
 
Weighted Average Exercise Price
Outstanding at December 31, 2011
7,952,587

 
$
33.73

Granted
1,269,725

 
44.43

Exercised
(2,666,146
)
 
32.77

Cancelled
(8,668
)
 
42.04

Outstanding at December 31, 2012
6,547,498

 
$
36.18

Exercisable at December 31, 2012
4,196,637

 
$
33.96

Assumptions used in the pricing model and the weighted average grant-date fair value of performance share award units granted
The following table shows the assumptions used in the pricing model and the weighted average grant-date fair value of performance share award units granted:
Year Ended December 31
2012
 
2011
 
2010
Expected volatility
16.0
%
 
19.2
%
 
20.7
%
Expected term (in years)
3.0

 
3.0

 
3.0

Interest rate
0.4
%
 
1.4
%
 
1.4
%
Annualized dividend rate
$
1.89

 
$
1.82

 
$
1.75

Weighted average grant-date fair value
$
41.99

 
$
35.97

 
$
30.13

Mississippi Power [Member]
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Assumptions used in the pricing model and the weighted average grant-date fair value of stock options granted
The following table shows the assumptions used in the pricing model and the weighted average grant-date fair value of stock options granted:
 
Year Ended December 31
2012
 
2011
 
2010
Expected volatility
17.7%
 
17.5%
 
17.4%
Expected term (in years)
5.0
 
5.0
 
5.0
Interest rate
0.9%
 
2.3%
 
2.4%
Dividend yield
4.2%
 
4.8%
 
5.6%
Weighted average grant-date fair value
$3.39
 
$3.23
 
$2.23
Summary of stock option activity
The Company's activity in the stock option program for 2012 is summarized below:
 
 
Shares Subject to Option
 
Weighted Average Exercise Price  
Outstanding at December 31, 2011
1,569,728

 
$
33.59

Granted
278,709

 
44.46

Exercised
(474,871
)
 
31.98

Cancelled

 

Outstanding at December 31, 2012
1,373,566

 
$
36.34

Exercisable at December 31, 2012
864,634

 
$
33.96

Assumptions used in the pricing model and the weighted average grant-date fair value of performance share award units granted
The following table shows the assumptions used in the pricing model and the weighted average grant-date fair value of performance share award units granted:
Year Ended December 31
2012
 
2011
 
2010
Expected volatility
16.0%
 
19.2%
 
20.7%
Expected term (in years)
3.0
 
3.0
 
3.0
Interest rate
0.4%
 
1.4%
 
1.4%
Annualized dividend rate
$1.89
 
$1.82
 
$1.75
Weighted average grant-date fair value
$41.99
 
$35.97
 
$30.13