XML 61 R34.htm IDEA: XBRL DOCUMENT v3.21.2
Segment and Related Information (Tables)
6 Months Ended
Jun. 30, 2021
Segment Reporting [Abstract]  
Schedule of Financial Data for Business Segments
Financial data for business segments and products and services for the three and six months ended June 30, 2021 and 2020 was as follows:
Electric Utilities
Traditional
Electric Operating
Companies
Southern
Power
EliminationsTotalSouthern Company GasAll
Other
EliminationsConsolidated
(in millions)
Three Months Ended June 30, 2021
Operating revenues$4,031 $490 $(114)$4,407 $677 $154 $(40)$5,198 
Segment net income (loss)(a)(b)(c)(d)
511 36  547 (65)(108)(2)372 
Six Months Ended June 30, 2021
Operating revenues$7,795 $930 $(201)$8,524 $2,371 $288 $(75)$11,108 
Segment net income (loss)(a)(b)(c)(d)(e)
1,267 133  1,400 333 (216)(9)1,508 
At June 30, 2021
Goodwill$ $2 $ $2 $5,015 $263 $ $5,280 
Assets held for sale2   2 736 49  787 
Total assets87,330 13,708 (693)100,345 23,235 3,063 (736)125,907 
Three Months Ended June 30, 2020
Operating revenues$3,539 $439 $(94)$3,884 $636 $135 $(35)$4,620 
Segment net income (loss)(a)(b)(d)
645 63 — 708 71 (177)10 612 
Six Months Ended June 30, 2020
Operating revenues$6,946 $814 $(181)$7,579 $1,885 $248 $(74)$9,638 
Segment net income (loss)(a)(b)(d)(f)
1,287 138 — 1,425 346 (299)1,480 
At December 31, 2020
Goodwill$— $$— $$5,015 $263 $— $5,280 
Assets held for sale— — — 55 — 60 
Total assets85,486 13,235 (680)98,041 22,630 3,168 (904)122,935 
(a)Attributable to Southern Company.
(b)For the traditional electric operating companies, includes pre-tax charges at Georgia Power for estimated losses associated with the construction of Plant Vogtle Units 3 and 4 of $460 million ($343 million after tax) and $508 million ($379 million after tax) for the three and six months ended June 30, 2021, respectively, and $149 million ($111 million after tax) for the three and six months ended June 30, 2020. See Note (B) and Note 2 to the financial statements in Item 8 of the Form 10-K under "Georgia Power – Nuclear Construction" for additional information.
(c)For Southern Company Gas, includes a pre-tax impairment charge of $82 million ($58 million after tax) related to its equity method investment in the PennEast Pipeline project. See Notes (C) and (E) under "Other Matters – Southern Company Gas" and "Southern Company Gas," respectively, for additional information.
(d)For the "All Other" column, includes pre-tax impairment charges related to leveraged lease investments of $7 million ($6 million after tax) for the three and six months ended June 30, 2021 and $154 million ($74 million after tax) for the three and six months ended June 30, 2020. See Note 3 to the financial statements in Item 8 of the Form 10-K under "Other Matters – Southern Company" for additional information.
(e)For Southern Power, includes gains on wind turbine equipment contributed to various equity method investments totaling approximately $37 million pre-tax ($28 million after tax). See Notes (E) and (K) under "Southern Power" for additional information.
(f)For Southern Power, includes a $39 million pre-tax gain ($23 million gain after tax) on the sale of Plant Mankato. See Note 15 to the financial statements in Item 8 of the Form 10-K under "Southern Power" for additional information.
Business segment financial data for the three and six months ended June 30, 2021 and 2020 was as follows:
Gas Distribution OperationsGas Pipeline Investments
Wholesale Gas Services(a)
Gas Marketing ServicesTotalAll OtherEliminationsConsolidated
(in millions)
Three Months Ended June 30, 2021
Operating revenues$710 $8 $(110)$64 $672 $11 $(6)$677 
Segment net income (loss)(b)
80 (36)(112)6 (62)(3) (65)
Six Months Ended June 30, 2021
Operating revenues$1,910 $16 $188 $259 $2,373 $18 $(20)$2,371 
Segment net income (loss)(b)
263 (7)14 62 332 1  333 
Total assets at June 30, 2021
20,245 1,492 807 1,486 24,030 11,300 (12,095)23,235 
Three Months Ended June 30, 2020
Operating revenues$587 $$(19)$56 $632 $$(4)$636 
Segment net income (loss)74 21 (23)77 (6)— 71 
Six Months Ended June 30, 2020
Operating revenues$1,607 $16 $32 $233 $1,888 $16 $(19)$1,885 
Segment net income (loss)238 51 — 62 351 (5)— 346 
Total assets at December 31, 2020
19,090 1,597 850 1,503 23,040 11,336 (11,746)22,630 
(a)The revenues for wholesale gas services are netted with costs associated with its energy and risk management activities. A reconciliation of operating revenues and intercompany revenues is shown in the following table.
Third Party Gross RevenuesIntercompany RevenuesTotal Gross Revenues Less Gross Gas CostsOperating Revenues
(in millions)
Three Months Ended June 30, 2021$1,292 $27 $1,319 $1,429 $(110)
Three Months Ended June 30, 2020854 18 872 891 (19)
Six Months Ended June 30, 2021$3,881 $90 $3,971 $3,783 $188 
Six Months Ended June 30, 20202,039 47 2,086 2,054 32 
(b)For gas pipeline investments, includes a pre-tax impairment charge of $82 million ($58 million after tax) related to the equity method investment in the PennEast Pipeline project. See Notes (C) and (E) under "Other Matters – Southern Company Gas" and "Southern Company Gas," respectively, for additional information.
Schedule of Financial Data for Products and Services
 Electric Utilities' Revenues
RetailWholesaleOtherTotal
(in millions)
Three Months Ended June 30, 2021$3,599 $546 $262 $4,407 
Three Months Ended June 30, 20203,182 472 230 3,884 
Six Months Ended June 30, 2021$6,941 $1,091 $492 $8,524 
Six Months Ended June 30, 20206,260 889 430 7,579 
 Southern Company Gas' Revenues
Gas
Distribution
Operations
Wholesale
Gas
Services(*)
Gas
Marketing
Services
OtherTotal
(in millions)
Three Months Ended June 30, 2021$706 $(110)$64 $17 $677 
Three Months Ended June 30, 2020583 (19)56 16 636 
Six Months Ended June 30, 2021$1,898 $188 $259 $26 $2,371 
Six Months Ended June 30, 20201,596 32 233 24 1,885 
(*)The revenues for wholesale gas services are netted with costs associated with its energy and risk management activities. See "Southern Company Gas" herein for additional information.