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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Operating Revenues:        
Retail revenues $ 3,748 $ 3,714 $ 7,124 $ 7,256
Wholesale revenues 446 448 842 915
Other electric revenues 166 162 348 325
Other revenues 99 13 137 24
Total operating revenues 4,459 4,337 8,451 8,520
Operating Expenses:        
Fuel 1,023 1,200 1,934 2,412
Purchased power 189 171 354 315
Cost of sales 58 0 77 0
Other operations and maintenance 1,099 1,100 2,206 2,222
Depreciation and amortization 569 500 1,110 987
Taxes other than income taxes 255 245 511 497
Estimated loss on Kemper IGCC 81 23 134 32
Total operating expenses 3,274 3,239 6,326 6,465
Operating Income (Loss) 1,185 1,098 2,125 2,055
Other Income and (Expense):        
Allowance for equity funds used during construction 45 39 98 102
Interest expense, net of amounts capitalized (293) (180) (539) (393)
Other income (expense), net (29) (12) (57) (19)
Total other income and (expense) (277) (153) (498) (310)
Earnings (Loss) Before Income Taxes 908 945 1,627 1,745
Income taxes (benefit) 272 302 494 576
Net Income (Loss) 636 643 1,133 1,169
Dividends on preferred and preference stock of subsidiaries 12 14 23 31
Less: Net income attributable to noncontrolling interests 12 0 13 0
Net Income (Loss) After Dividends on Preferred and Preference Stock of Subsidiaries $ 612 $ 629 $ 1,097 $ 1,138
Earnings per share (EPS) -        
Basic EPS (in dollars per share) $ 0.65 $ 0.69 $ 1.19 $ 1.25
Diluted EPS (in dollars per share) $ 0.65 $ 0.69 $ 1.18 $ 1.25
Average number of shares of common stock outstanding (in millions)        
Basic (in shares) 934 909 925 910
Diluted (in shares) 940 912 931 914
Cash dividends paid per share of common stock (in dollars per share) $ 0.56 $ 0.5425 $ 1.1025 $ 1.0675
Alabama Power [Member]        
Operating Revenues:        
Retail revenues $ 1,316 $ 1,326 $ 2,510 $ 2,594
Wholesale revenues, non-affiliates 67 57 130 123
Wholesale revenues, affiliates 9 20 31 35
Other revenues 52 52 105 104
Total operating revenues 1,444 1,455 2,776 2,856
Operating Expenses:        
Fuel 295 343 564 653
Purchased power, non-affiliates 40 45 76 86
Purchased power, affiliates 55 49 88 103
Other operations and maintenance 355 370 747 768
Depreciation and amortization 175 160 347 318
Taxes other than income taxes 94 90 191 184
Total operating expenses 1,014 1,057 2,013 2,112
Operating Income (Loss) 430 398 763 744
Other Income and (Expense):        
Allowance for equity funds used during construction 6 14 16 29
Interest expense, net of amounts capitalized (74) (69) (147) (134)
Other income (expense), net (4) (14) (11) (18)
Total other income and (expense) (72) (69) (142) (123)
Earnings (Loss) Before Income Taxes 358 329 621 621
Income taxes (benefit) 142 122 245 235
Net Income (Loss) 216 207 376 386
Dividends on preferred and preference stock of subsidiaries 5 7 9 17
Net Income (Loss) After Dividends on Preferred and Preference Stock of Subsidiaries 211 200 367 369
Georgia Power [Member]        
Operating Revenues:        
Retail revenues 1,907 1,872 3,624 3,686
Wholesale revenues, non-affiliates 40 50 82 118
Wholesale revenues, affiliates 10 4 15 12
Other revenues 94 90 202 178
Total operating revenues 2,051 2,016 3,923 3,994
Operating Expenses:        
Fuel 439 503 815 1,029
Purchased power, non-affiliates 92 78 175 138
Purchased power, affiliates 111 115 250 263
Other operations and maintenance 439 467 896 943
Depreciation and amortization 214 202 425 418
Taxes other than income taxes 100 97 197 195
Total operating expenses 1,395 1,462 2,758 2,986
Operating Income (Loss) 656 554 1,165 1,008
Other Income and (Expense):        
Allowance for equity funds used during construction     24 10
Interest expense, net of amounts capitalized (99) (93) (193) (182)
Other income (expense), net 8 1 26 16
Total other income and (expense) (91) (92) (167) (166)
Earnings (Loss) Before Income Taxes 565 462 998 842
Income taxes (benefit) 213 180 373 320
Net Income (Loss) 352 282 625 522
Dividends on preferred and preference stock of subsidiaries 5 5 9 9
Net Income (Loss) After Dividends on Preferred and Preference Stock of Subsidiaries 347 277 616 513
Gulf Power [Member]        
Operating Revenues:        
Retail revenues 319 327 602 620
Wholesale revenues, non-affiliates 15 27 31 52
Wholesale revenues, affiliates 15 13 36 35
Other revenues 16 17 31 34
Total operating revenues 365 384 700 741
Operating Expenses:        
Fuel 107 122 201 232
Purchased power, non-affiliates 32 25 62 50
Purchased power, affiliates 4 9 5 17
Other operations and maintenance 77 91 155 185
Depreciation and amortization 42 40 80 60
Taxes other than income taxes 29 28 58 56
Total operating expenses 291 315 561 600
Operating Income (Loss) 74 69 139 141
Other Income and (Expense):        
Allowance for equity funds used during construction 0 3 0 8
Interest expense, net of amounts capitalized (12) (12) (25) (26)
Other income (expense), net (1) (1) (2) (2)
Total other income and (expense) (13) (10) (27) (20)
Earnings (Loss) Before Income Taxes 61 59 112 121
Income taxes (benefit) 24 21 44 44
Net Income (Loss) 37 38 68 77
Dividends on preferred and preference stock of subsidiaries 3 3 5 5
Net Income (Loss) After Dividends on Preferred and Preference Stock of Subsidiaries 34 35 63 72
Mississippi Power [Member]        
Operating Revenues:        
Retail revenues 206 189 389 357
Wholesale revenues, non-affiliates 60 63 120 141
Wholesale revenues, affiliates 7 18 16 45
Other revenues 4 5 8 9
Total operating revenues 277 275 533 552
Operating Expenses:        
Fuel 81 115 157 229
Purchased power, non-affiliates 1 2 1 3
Purchased power, affiliates 4 2 9 4
Other operations and maintenance 68 68 136 144
Depreciation and amortization 45 30 84 57
Taxes other than income taxes 25 23 50 48
Estimated loss on Kemper IGCC 81 23 134 32
Total operating expenses 305 263 571 517
Operating Income (Loss) (28) 12 (38) 35
Other Income and (Expense):        
Allowance for equity funds used during construction 30 25 59 53
Interest expense, net of amounts capitalized (15) 30 (31) 19
Other income (expense), net (1) (1) (3) (2)
Total other income and (expense) 14 54 25 70
Earnings (Loss) Before Income Taxes (14) 66 (13) 105
Income taxes (benefit) (17) 16 (27) 20
Net Income (Loss) 3 50 14 85
Dividends on preferred and preference stock of subsidiaries 1 1 1 1
Net Income (Loss) After Dividends on Preferred and Preference Stock of Subsidiaries 2 49 13 84
Southern Power [Member]        
Operating Revenues:        
Wholesale revenues, non-affiliates 264 250 480 481
Wholesale revenues, affiliates 107 85 204 199
Other revenues 2 2 4 4
Total operating revenues 373 337 688 684
Operating Expenses:        
Fuel 96 105 187 243
Purchased power, non-affiliates 21 18 35 34
Purchased power, affiliates 2 4 8 14
Other operations and maintenance 86 69 162 121
Depreciation and amortization 81 60 154 118
Taxes other than income taxes 6 6 13 12
Total operating expenses 292 262 559 542
Operating Income (Loss) 81 75 129 142
Other Income and (Expense):        
Interest expense, net of amounts capitalized (22) (23) (43) (45)
Other income (expense), net 1 1 1 1
Total other income and (expense) (21) (22) (42) (44)
Earnings (Loss) Before Income Taxes 60 53 87 98
Income taxes (benefit) (41) 1 (65) 13
Net Income (Loss) 101 52 152 85
Less: Net income attributable to noncontrolling interests 12 6 13 6
Net income attributable to Southern Power Company $ 89 $ 46 $ 139 $ 79