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Financing

3 Months Ended

Mar. 31, 2012

(E) FINANCING

Bank Credit Arrangements

Bank credit arrangements provide liquidity support to the registrants’ commercial paper borrowings and the traditional operating companies’ variable rate pollution control revenue bonds. See Note 6 to the financial statements of each registrant under “Bank Credit Arrangements” in Item 8 of the Form 10-K for additional information.

The following table outlines the credit arrangements by company as of March 31, 2012:


	Expires										Executable Term Loans				Due Within One Year^(a)
Company	2012		2013		2014 and Beyond		Total		Unused		One Year		Two Years		Term Out		No Term Out

	(in millions)						(in millions)				(in millions)				(in millions)
Southern Company		$ —		$ —		$1,000		$1,000		$1,000		$ —		$—		$ —		$ —
Alabama Power		121		35		1,150		1,306		1,306		51		—		51		71
Georgia Power		—		—		1,750		1,750		1,745		—		—		—		—
Gulf Power		75		35		165		275		275		75		—		75		35
Mississippi Power		106		25		165		296		296		25		41		66		65
Southern Power		—		—		500		500		500		—		—		—		—
Other		25		25		—		50		50		25		—		25		—

Total		$327		$120		$4,730		$5,177		$5,172		$176		$41		$217		$171

(a)

Reflects facilities expiring on or before March 31, 2013.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References+ Details