XML 1132 R5.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Cash Flows (USD $)
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Operating Activities:      
Consolidated Net Income $ 2,268,000,000 $ 2,040,000,000 $ 1,708,000,000
Adjustments to reconcile consolidated net income to net cash provided from operating activities --      
Depreciation and amortization, total 2,048,000,000 1,831,000,000 1,788,000,000
Deferred income taxes 1,155,000,000 1,038,000,000 25,000,000
Deferred revenues (4,000,000) (103,000,000) (54,000,000)
Mark-to-market adjustments (5,000,000)    
Allowance for equity funds used during construction (153,000,000) (194,000,000) (200,000,000)
Pension, postretirement, and other employee benefits (45,000,000) (614,000,000) (3,000,000)
Stock based compensation expense 42,000,000 33,000,000 23,000,000
Generation construction screening costs   (51,000,000) (22,000,000)
Other, net 19,000,000 70,000,000 43,000,000
Changes in certain current assets and liabilities --      
-Receivables 362,000,000 80,000,000 585,000,000
-Fossil fuel stock (62,000,000) 135,000,000 (432,000,000)
-Materials and supplies (60,000,000) (30,000,000) (39,000,000)
-Other current assets (17,000,000) (17,000,000) (47,000,000)
-Accounts payable (5,000,000) 4,000,000 (125,000,000)
-Accrued taxes 330,000,000 (308,000,000) (95,000,000)
-Accrued compensation 10,000,000 180,000,000 (226,000,000)
-Other current liabilities 15,000,000 (103,000,000) 334,000,000
Net cash provided from operating activities 5,903,000,000 3,991,000,000 3,263,000,000
Investing Activities:      
Property additions (4,525,000,000) (4,086,000,000) (4,670,000,000)
Distribution of restricted cash 63,000,000 25,000,000 119,000,000
Nuclear decommissioning trust fund purchases (2,195,000,000) (2,009,000,000) (1,234,000,000)
Nuclear decommissioning trust fund sales 2,190,000,000 2,004,000,000 1,228,000,000
Proceeds from property sales 25,000,000 18,000,000 340,000,000
Cost of removal, net of salvage (93,000,000) (125,000,000) (119,000,000)
Change in construction payables 191,000,000 (51,000,000) 215,000,000
Other investing activities 161,000,000 (32,000,000) (198,000,000)
Net cash used for investing activities (4,183,000,000) (4,256,000,000) (4,319,000,000)
Financing Activities:      
Increase (decrease) in notes payable, net (438,000,000) 659,000,000 (306,000,000)
Proceeds --      
Long-term debt issuances 3,719,000,000 3,151,000,000 3,042,000,000
Common stock issuances 723,000,000 772,000,000 1,286,000,000
Redemptions and repurchases --      
Long-term debt (3,170,000,000) (2,966,000,000) (1,234,000,000)
Payment of common stock dividends (1,601,000,000) (1,496,000,000) (1,369,000,000)
Payment of dividends on preferred and preference stock of subsidiaries (65,000,000) (65,000,000) (65,000,000)
Other financing activities (20,000,000) (33,000,000) (25,000,000)
Net cash provided from (used for) financing activities (852,000,000) 22,000,000 1,329,000,000
Net Change in Cash and Cash Equivalents 868,000,000 (243,000,000) 273,000,000
Cash and Cash Equivalents at Beginning of Year 447,000,000 690,000,000 417,000,000
Cash and Cash Equivalents at End of Year 1,315,000,000 447,000,000 690,000,000
Supplemental Cash Flow Information:      
Interest (net capitalized for 2011 and 2010, respectively) 832,000,000 789,000,000 788,000,000
Net cash payments for income taxes (401,000,000) 276,000,000 975,000,000
Alabama Power [Member]
     
Operating Activities:      
Consolidated Net Income 747,000,000 746,000,000 709,000,000
Adjustments to reconcile consolidated net income to net cash provided from operating activities --      
Depreciation and amortization, total 749,000,000 694,000,000 637,000,000
Deferred income taxes 459,000,000 410,000,000 (66,000,000)
Allowance for equity funds used during construction (22,000,000) (36,000,000) (79,000,000)
Pension, postretirement, and other employee benefits (32,000,000) (15,000,000) (8,000,000)
Pension and postretirement funding (9,000,000) (55,000,000) (17,000,000)
Stock based compensation expense 6,000,000 5,000,000 4,000,000
Natural disaster reserve 34,000,000 52,000,000 55,000,000
Other, net (41,000,000) (27,000,000) 8,000,000
Changes in certain current assets and liabilities --      
-Receivables 18,000,000 (29,000,000) 310,000,000
-Fossil fuel stock 47,000,000 (1,000,000) (77,000,000)
-Materials and supplies (33,000,000) (20,000,000) (22,000,000)
-Other current assets (6,000,000) (4,000,000) (16,000,000)
-Accounts payable 11,000,000 (54,000,000) (19,000,000)
-Accrued taxes 157,000,000 (140,000,000) 24,000,000
-Accrued compensation (12,000,000) 28,000,000 (32,000,000)
-Other current liabilities (25,000,000) (181,000,000) 193,000,000
Net cash provided from operating activities 2,048,000,000 1,373,000,000 1,604,000,000
Investing Activities:      
Property additions (977,000,000) (903,000,000) (1,234,000,000)
Investment in restricted cash from pollution control bonds 4,000,000   (6,000,000)
Distribution of restricted cash 13,000,000 18,000,000 49,000,000
Nuclear decommissioning trust fund purchases (350,000,000) (237,000,000) (245,000,000)
Nuclear decommissioning trust fund sales 349,000,000 236,000,000 244,000,000
Cost of removal, net of salvage (28,000,000) (44,000,000) (38,000,000)
Change in construction payables (9,000,000) (45,000,000) 26,000,000
Other investing activities 9,000,000 (12,000,000) (25,000,000)
Net cash used for investing activities (989,000,000) (987,000,000) (1,229,000,000)
Financing Activities:      
Increase (decrease) in notes payable, net     (25,000,000)
Proceeds --      
Capital contributions from parent company 12,000,000 28,000,000 24,000,000
Pollution control revenue bonds issuances and remarketings     79,000,000
Common stock issuances     203,000,000
Senior note issuances 700,000,000 250,000,000 500,000,000
Redemptions and repurchases --      
Pollution control revenue bonds (4,000,000)    
Senior notes (750,000,000) (250,000,000) (250,000,000)
Payment of preferred and preference stock dividends (39,000,000) (39,000,000) (39,000,000)
Payment of common stock dividends (774,000,000) (586,000,000) (523,000,000)
Other financing activities (14,000,000) (3,000,000) (4,000,000)
Net cash provided from (used for) financing activities (869,000,000) (600,000,000) (35,000,000)
Net Change in Cash and Cash Equivalents 190,000,000 (214,000,000) 340,000,000
Cash and Cash Equivalents at Beginning of Year 154,000,000 368,000,000 28,000,000
Cash and Cash Equivalents at End of Year 344,000,000 154,000,000 368,000,000
Supplemental Cash Flow Information:      
Interest (net capitalized for 2011 and 2010, respectively) 286,000,000 288,000,000 255,000,000
Net cash payments for income taxes (139,000,000) 188,000,000 426,000,000
Noncash transactions - accrued property additions at year-end 19,000,000 28,000,000 74,000,000
Georgia Power [Member]
     
Operating Activities:      
Consolidated Net Income 1,162,000,000 967,000,000 831,000,000
Adjustments to reconcile consolidated net income to net cash provided from operating activities --      
Depreciation and amortization, total 867,000,000 724,000,000 791,000,000
Deferred income taxes 500,000,000 342,000,000 191,000,000
Deferred revenues (1,000,000) (101,000,000) (49,000,000)
Allowance for equity funds used during construction (96,000,000) (147,000,000) (97,000,000)
Pension and postretirement funding (15,000,000) (195,000,000) (22,000,000)
Other, net (36,000,000) 29,000,000 23,000,000
Changes in certain current assets and liabilities --      
-Receivables 235,000,000 168,000,000 127,000,000
-Fossil fuel stock (99,000,000) 103,000,000 (242,000,000)
-Prepaid income taxes 72,000,000 (36,000,000) 21,000,000
-Other current assets (21,000,000) (9,000,000) (7,000,000)
-Accounts payable 44,000,000 (99,000,000) (54,000,000)
-Accrued taxes (36,000,000) 31,000,000 (19,000,000)
-Accrued compensation 7,000,000 62,000,000 (101,000,000)
-Other current liabilities 49,000,000 8,000,000 25,000,000
Net cash provided from operating activities 2,632,000,000 1,847,000,000 1,418,000,000
Investing Activities:      
Property additions (1,861,000,000) (2,190,000,000) (2,515,000,000)
Nuclear decommissioning trust fund purchases (1,845,000,000) (1,772,000,000) (989,000,000)
Nuclear decommissioning trust fund sales 1,841,000,000 1,768,000,000 984,000,000
Cost of removal, net of salvage (42,000,000) (67,000,000) (56,000,000)
Change in construction payables, net of joint owner portion 123,000,000 36,000,000 106,000,000
Other investing activities (7,000,000) (19,000,000) 52,000,000
Net cash used for investing activities (1,791,000,000) (2,244,000,000) (2,418,000,000)
Financing Activities:      
Increase (decrease) in notes payable, net (61,000,000) 252,000,000 (33,000,000)
Proceeds --      
Capital contributions from parent company 214,000,000 688,000,000 931,000,000
Pollution control revenue bonds issuances and remarketings 604,000,000   417,000,000
Senior note issuances 550,000,000 1,950,000,000 1,000,000,000
Other long-term debt issuances 250,000,000   1,000,000
Redemptions and repurchases --      
Pollution control revenue bonds (339,000,000) (516,000,000) (327,000,000)
Senior notes (427,000,000) (1,112,000,000) (333,000,000)
Other long-term debt (303,000,000)    
Long-term debt to affiliate trust (206,000,000)    
Payment of preferred and preference stock dividends (17,000,000) (18,000,000) (18,000,000)
Payment of common stock dividends (1,096,000,000) (820,000,000) (739,000,000)
Other financing activities (5,000,000) (33,000,000) (18,000,000)
Net cash provided from (used for) financing activities (836,000,000) 391,000,000 881,000,000
Net Change in Cash and Cash Equivalents 5,000,000 (6,000,000) (119,000,000)
Cash and Cash Equivalents at Beginning of Year 8,000,000 14,000,000 133,000,000
Cash and Cash Equivalents at End of Year 13,000,000 8,000,000 14,000,000
Supplemental Cash Flow Information:      
Interest (net capitalized for 2011 and 2010, respectively) 346,000,000 339,000,000 341,000,000
Net cash payments for income taxes 54,000,000 149,000,000 228,000,000
Noncash transactions - accrued property additions at year-end 391,000,000 310,000,000 243,000,000
Gulf Power [Member]
     
Operating Activities:      
Consolidated Net Income 111,208,000 127,714,000 117,436,000
Adjustments to reconcile consolidated net income to net cash provided from operating activities --      
Depreciation and amortization, total 135,790,000 127,897,000 99,564,000
Deferred income taxes 63,228,000 82,681,000 (16,545,000)
Allowance for equity funds used during construction (9,914,000) (7,213,000) (23,809,000)
Pension, postretirement, and other employee benefits (356,000) (23,964,000) 1,769,000
Stock based compensation expense 1,318,000 1,101,000 933,000
Hedge Settlements   1,530,000  
Other, net (8,258,000) (4,126,000) (5,173,000)
Changes in certain current assets and liabilities --      
-Receivables 21,518,000 (36,687,000) 83,245,000
-Prepayments 10,150,000 (10,796,000) (192,000)
-Fossil fuel stock 17,519,000 15,766,000 (75,145,000)
-Materials and supplies (5,073,000) (6,251,000) (1,642,000)
-Prepaid income taxes 26,901,000 (29,630,000) (6,355,000)
-Property damage cost recovery     10,746,000
-Other current assets 40,000 55,000 (12,000)
-Accounts payable (2,528,000) 15,683,000 7,890,000
-Accrued taxes 1,475,000 1,427,000 (2,404,000)
-Accrued compensation 25,000 5,122,000 (6,330,000)
-Over recovered regulatory clause revenues 10,247,000 3,192,000 11,215,000
-Other current liabilities 2,937,000 4,279,000 (960,000)
Net cash provided from operating activities 376,227,000 267,780,000 194,231,000
Investing Activities:      
Property additions (324,372,000) (285,793,000) (421,309,000)
Investment in restricted cash from pollution control bonds     (49,188,000)
Distribution of restricted cash   6,347,000 42,841,000
Cost of removal, net of salvage (14,471,000) (1,145,000) (9,751,000)
Change in construction payables 2,902,000 (21,581,000) (23,603,000)
Payments pursuant to long-term service agreements (8,007,000) (6,011,000) (7,421,000)
Other investing activities 420,000 (262,000) (5,000)
Net cash used for investing activities (343,528,000) (308,445,000) (468,436,000)
Financing Activities:      
Increase (decrease) in notes payable, net 21,324,000 4,451,000 (49,599,000)
Proceeds --      
Capital contributions from parent company 2,101,000 2,242,000 22,032,000
Pollution control revenue bonds issuances and remarketings   21,000,000 130,400,000
Common stock issuances 50,000,000 50,000,000 135,000,000
Senior note issuances 125,000,000 300,000,000 140,000,000
Redemptions and repurchases --      
Senior notes (608,000) (215,515,000) (1,214,000)
Other long-term debt (110,000,000)    
Payment of preferred and preference stock dividends (6,203,000) (6,203,000) (6,203,000)
Payment of common stock dividends (110,000,000) (104,300,000) (89,300,000)
Other financing activities (3,419,000) (3,253,000) (1,677,000)
Net cash provided from (used for) financing activities (31,805,000) 48,422,000 279,439,000
Net Change in Cash and Cash Equivalents 894,000 7,757,000 5,234,000
Cash and Cash Equivalents at Beginning of Year 16,434,000 8,677,000 3,443,000
Cash and Cash Equivalents at End of Year 17,328,000 16,434,000 8,677,000
Supplemental Cash Flow Information:      
Interest (net capitalized for 2011 and 2010, respectively) 55,486,000 42,521,000 40,336,000
Net cash payments for income taxes (26,345,000) 17,224,000 73,889,000
Noncash decrease in notes payable related to energy services     (8,309,000)
Noncash transactions - accrued property additions at year-end 19,439,000 14,475,000 42,050,000
Mississippi Power [Member]
     
Operating Activities:      
Consolidated Net Income 95,915,000 81,950,000 86,700,000
Adjustments to reconcile consolidated net income to net cash provided from operating activities --      
Depreciation and amortization, total 83,787,000 82,294,000 78,914,000
Deferred income taxes 71,764,000 37,557,000 (39,849,000)
Convertible investment tax credits received   22,173,000  
Allowance for equity funds used during construction (24,707,000) (3,795,000) (387,000)
Pension, postretirement, and other employee benefits 3,169,000 (34,911,000) 7,077,000
Stock based compensation expense 1,548,000 1,186,000 886,000
Hedge Settlements 848,000    
Generation construction screening costs   (50,554,000) (30,638,000)
Other, net (8,151,000) (3,404,000) (3,229,000)
Changes in certain current assets and liabilities --      
-Receivables 5,864,000 (8,185,000) 9,677,000
Under recovered regulatory clause revenues     54,994,000
-Fossil fuel stock (27,933,000) 14,997,000 (41,699,000)
-Materials and supplies (2,116,000) (879,000) (649,000)
-Prepaid income taxes 12,907,000 (17,075,000) 1,061,000
-Other current assets 1,606,000 (4,633,000) 2,065,000
-Accounts payable 24,143,000 (12,630,000) (7,590,000)
-Accrued taxes 1,209,000 (4,268,000) 8,800,000
-Accrued compensation (187,000) 2,291,000 (6,819,000)
-Over recovered regulatory clause revenues (16,544,000) 28,450,000 48,596,000
-Other current liabilities 8,373,000 2,137,000 2,732,000
Net cash provided from operating activities 231,495,000 132,701,000 170,642,000
Investing Activities:      
Property additions (964,233,000) (247,005,000) (101,995,000)
Cash paid for acquisitions (84,803,000)    
Investment in restricted cash from pollution control bonds   (50,000,000)  
Distribution of restricted cash 50,000,000    
Cost of removal, net of salvage (7,432,000) (9,240,000) (9,352,000)
Change in construction payables 97,079,000 33,767,000 (5,091,000)
Capital grant proceeds 232,442,000 23,657,000  
Other investing activities (5,736,000) (5,587,000) (2,971,000)
Net cash used for investing activities (682,683,000) (254,408,000) (119,409,000)
Financing Activities:      
Increase (decrease) in notes payable, net     (26,293,000)
Proceeds --      
Capital contributions from parent company 299,305,000 65,215,000 4,567,000
Senior note issuances 300,000,000   125,000,000
Other long-term debt issuances 115,000,000 225,000,000  
Redemptions and repurchases --      
Capital leases (1,437,000) (1,330,000)  
Senior notes     (40,000,000)
Other long-term debt (130,000,000)    
Payment of preferred and preference stock dividends (1,733,000) (1,733,000) (1,733,000)
Payment of common stock dividends (75,500,000) (68,600,000) (68,500,000)
Other financing activities (3,641,000) (1,091,000) (1,662,000)
Net cash provided from (used for) financing activities 501,994,000 217,461,000 (8,621,000)
Net Change in Cash and Cash Equivalents 50,806,000 95,754,000 42,612,000
Cash and Cash Equivalents at Beginning of Year 160,779,000 65,025,000 22,413,000
Cash and Cash Equivalents at End of Year 211,585,000 160,779,000 65,025,000
Supplemental Cash Flow Information:      
Interest (net capitalized for 2011 and 2010, respectively) 14,814,000 19,518,000 19,832,000
Net cash payments for income taxes (41,024,000) 7,546,000 77,206,000
Noncash transactions - accrued property additions at year-end 135,902,000 37,736,000 3,689,000
Assumption of debt due to plant acquisition 346,051,000    
Southern Power [Member]
     
Operating Activities:      
Consolidated Net Income 162,231,000 131,309,000 155,852,000
Adjustments to reconcile consolidated net income to net cash provided from operating activities --      
Depreciation and amortization, total 138,787,000 133,109,000 110,427,000
Deferred income taxes 4,481,000 64,530,000 22,950,000
Convertible investment tax credits received 84,723,000 26,400,000 16,800,000
Deferred revenues (10,594,000) (5,586,000) 2,288,000
Accumulated billings on construction contract   401,000 48,451,000
Accumulated costs on construction contract   (65,000) (46,765,000)
Profit recognized on construction   (470,000) (13,296,000)
Loss (gain) on sale of property   478,000 4,977,000
Mark-to-market adjustments 8,000,000 1,492,000 5,204,000
Loss on extinguishment of debt 19,806,000    
Other, net 495,000 5,734,000 5,630,000
Changes in certain current assets and liabilities --      
-Receivables 10,448,000 (23,198,000) (9,717,000)
-Fossil fuel stock 532,000 2,604,000 2,738,000
-Materials and supplies (4,097,000) 443,000 (5,345,000)
-Prepaid income taxes 10,693,000 4,784,000 16,296,000
-Other current assets (485,000) (985,000) (298,000)
-Accounts payable (6,138,000) 1,469,000 2,043,000
-Accrued taxes 2,134,000 (16,024,000) 88,000
Accrued interest (8,102,000) 53,000 7,000
-Other current liabilities (535,000) 362,000 (199,000)
Net cash provided from operating activities 412,379,000 326,840,000 318,131,000
Investing Activities:      
Property additions (254,725,000) (299,602,000) (137,133,000)
Cash paid for acquisitions   (105,042,000) (194,156,000)
Proceeds from property sales 25,000 4,000,000 84,000
Change in construction payables, net of joint owner portion (14,291,000) 34,851,000 13,435,000
Payments pursuant to long-term service agreements (57,969,000) (41,598,000) (46,120,000)
Other investing activities (1,412,000) (721,000) (184,000)
Net cash used for investing activities (328,372,000) (408,112,000) (364,074,000)
Financing Activities:      
Increase (decrease) in notes payable, net (90,267,000) 150,840,000 118,948,000
Proceeds --      
Capital contributions from parent company 127,241,000 36,507,000 2,353,000
Senior note issuances 575,000,000    
Other long-term debt issuances   4,759,000  
Redemptions and repurchases --      
Senior notes (575,000,000)    
Other long-term debt (3,691,000)    
Premium for early debt extinguishment (19,375,000)    
Payment of common stock dividends (91,200,000) (107,100,000) (106,100,000)
Other financing activities (3,976,000) 3,318,000  
Net cash provided from (used for) financing activities (81,268,000) 88,324,000 15,201,000
Net Change in Cash and Cash Equivalents 2,739,000 7,052,000 (30,742,000)
Cash and Cash Equivalents at Beginning of Year 14,204,000 7,152,000 37,894,000
Cash and Cash Equivalents at End of Year 16,943,000 14,204,000 7,152,000
Supplemental Cash Flow Information:      
Interest (net capitalized for 2011 and 2010, respectively) 74,989,000 63,229,000 73,064,000
Net cash payments for income taxes (26,486,000) (6,246,000) 30,220,000
Noncash value of business exchanged in West Georgia acquisition     70,839,000
Noncash transactions - accrued property additions at year-end $ 32,590,000 $ 46,764,000 $ 15,474,000