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Financing

6 Months Ended

Jun. 30, 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 June 30, 2012, including expiration dates:


	Expires					Executable Term Loans		Due Within One Year^(a)
Company	2012	2013	2014 and Beyond^(b)	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	37	101	1,150	1,288	1,288	51	—	51	52
Georgia Power	—	—	1,750	1,750	1,745	—	—	—	—
Gulf Power	20	60	195	275	275	45	—	45	35
Mississippi Power	41	95	165	301	301	25	41	66	70
Southern Power	—	—	500	500	500	—	—	—	—
Other	—	50	—	50	50	25	—	25	—

Total	$98	$306	$4,760	$5,164	$5,159	$146	$ 41	$187	$157

(a)	Reflects facilities expiring on or before June 30, 2013.

(b)	All remaining Gulf Power and Mississippi Power credit agreements in this column expire in 2014.

- 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