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Condensed Consolidated Statements of Income (Unaudited) (USD $)
Share data in Millions, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Operating Revenues:        
Retail revenues $ 3,620,000,000 $ 3,597,000,000 $ 6,918,000,000 $ 6,689,000,000
Wholesale revenues 454,000,000 415,000,000 886,000,000 764,000,000
Other electric revenues 156,000,000 154,000,000 311,000,000 302,000,000
Other revenues 16,000,000 15,000,000 28,000,000 30,000,000
Total operating revenues 4,246,000,000 4,181,000,000 8,143,000,000 7,785,000,000
Operating Expenses:        
Fuel 1,374,000,000 1,290,000,000 2,636,000,000 2,354,000,000
Purchased power 127,000,000 150,000,000 222,000,000 291,000,000
Other operations and maintenance 947,000,000 944,000,000 1,921,000,000 1,911,000,000
MC Asset Recovery insurance settlement 0 (19,000,000) 0 (19,000,000)
Depreciation and amortization 476,000,000 445,000,000 942,000,000 886,000,000
Taxes other than income taxes 232,000,000 228,000,000 467,000,000 453,000,000
Estimated loss on Kemper IGCC 450,000,000 0 990,000,000 0
Total operating expenses 3,606,000,000 3,038,000,000 7,178,000,000 5,876,000,000
Operating Income 640,000,000 1,143,000,000 965,000,000 1,909,000,000
Other Income and (Expense):        
Allowance for equity funds used during construction 45,000,000 32,000,000 86,000,000 63,000,000
Leveraged lease income (loss) 5,000,000 5,000,000 (16,000,000) 11,000,000
Interest expense, net of amounts capitalized (215,000,000) (220,000,000) (426,000,000) (431,000,000)
Other income (expense), net (4,000,000) 8,000,000 (10,000,000) 0
Total other income and (expense) (169,000,000) (175,000,000) (366,000,000) (357,000,000)
Earnings Before Income Taxes 471,000,000 968,000,000 599,000,000 1,552,000,000
Income taxes 158,000,000 329,000,000 189,000,000 529,000,000
Consolidated Net Income 313,000,000 639,000,000 410,000,000 1,023,000,000
Dividends on Preferred and Preference Stock of Subsidiaries 16,000,000 16,000,000 32,000,000 32,000,000
Consolidated Net Income After Dividends on Preferred and Preference Stock of Subsidiaries 297,000,000 [1],[2] 623,000,000 [1] 378,000,000 991,000,000 [1]
Earnings per share (EPS) -        
Basic EPS (in dollars per share) $ 0.34 $ 0.71 $ 0.43 $ 1.14
Diluted EPS (in dollars per share) $ 0.34 $ 0.71 $ 0.43 $ 1.13
Average number of shares of common stock outstanding (in millions)        
Basic (in shares) 874 872 872 870
Diluted (in shares) 879 880 877 879
Cash dividends paid per share of common stock $ 0.5075 $ 0.49 $ 0.9975 $ 0.9625
Alabama Power [Member]
       
Operating Revenues:        
Retail revenues 1,221,000,000 1,254,000,000 2,362,000,000 2,346,000,000
Wholesale revenues, non-affiliates 61,000,000 70,000,000 120,000,000 131,000,000
Wholesale revenues, affiliates 60,000,000 6,000,000 116,000,000 20,000,000
Other revenues 50,000,000 47,000,000 102,000,000 96,000,000
Total operating revenues 1,392,000,000 1,377,000,000 2,700,000,000 2,593,000,000
Operating Expenses:        
Fuel 401,000,000 343,000,000 773,000,000 649,000,000
Purchased power, non-affiliates 28,000,000 17,000,000 48,000,000 32,000,000
Purchased power, affiliates 41,000,000 66,000,000 72,000,000 106,000,000
Other operations and maintenance 319,000,000 316,000,000 649,000,000 637,000,000
Depreciation and amortization 159,000,000 160,000,000 317,000,000 317,000,000
Taxes other than income taxes 87,000,000 85,000,000 177,000,000 171,000,000
Total operating expenses 1,035,000,000 987,000,000 2,036,000,000 1,912,000,000
Operating Income 357,000,000 390,000,000 664,000,000 681,000,000
Other Income and (Expense):        
Allowance for equity funds used during construction 8,000,000 4,000,000 16,000,000 9,000,000
Interest expense, net of amounts capitalized (65,000,000) (73,000,000) (131,000,000) (146,000,000)
Other income (expense), net 2,000,000 0 1,000,000 (3,000,000)
Total other income and (expense) (55,000,000) (69,000,000) (114,000,000) (140,000,000)
Earnings Before Income Taxes 302,000,000 321,000,000 550,000,000 541,000,000
Income taxes 119,000,000 126,000,000 216,000,000 210,000,000
Consolidated Net Income 183,000,000 195,000,000 334,000,000 331,000,000
Dividends on Preferred and Preference Stock 10,000,000 10,000,000 20,000,000 20,000,000
Consolidated Net Income After Dividends on Preferred and Preference Stock of Subsidiaries 173,000,000 185,000,000 314,000,000 311,000,000
Georgia Power [Member]
       
Operating Revenues:        
Retail revenues 1,879,000,000 1,857,000,000 3,608,000,000 3,451,000,000
Wholesale revenues, non-affiliates 73,000,000 75,000,000 135,000,000 141,000,000
Wholesale revenues, affiliates 5,000,000 6,000,000 11,000,000 9,000,000
Other revenues 85,000,000 82,000,000 170,000,000 164,000,000
Total operating revenues 2,042,000,000 2,020,000,000 3,924,000,000 3,765,000,000
Operating Expenses:        
Fuel 557,000,000 572,000,000 1,076,000,000 1,012,000,000
Purchased power, non-affiliates 61,000,000 94,000,000 111,000,000 187,000,000
Purchased power, affiliates 176,000,000 129,000,000 351,000,000 288,000,000
Other operations and maintenance 397,000,000 411,000,000 828,000,000 845,000,000
Depreciation and amortization 204,000,000 185,000,000 404,000,000 373,000,000
Taxes other than income taxes 95,000,000 94,000,000 190,000,000 181,000,000
Total operating expenses 1,490,000,000 1,485,000,000 2,960,000,000 2,886,000,000
Operating Income 552,000,000 535,000,000 964,000,000 879,000,000
Other Income and (Expense):        
Allowance for equity funds used during construction 7,000,000 13,000,000 13,000,000 26,000,000
Interest expense, net of amounts capitalized (96,000,000) (90,000,000) (187,000,000) (181,000,000)
Other income (expense), net 1,000,000 (6,000,000) (1,000,000) (9,000,000)
Total other income and (expense) (88,000,000) (83,000,000) (175,000,000) (164,000,000)
Earnings Before Income Taxes 464,000,000 452,000,000 789,000,000 715,000,000
Income taxes 177,000,000 152,000,000 301,000,000 244,000,000
Consolidated Net Income 287,000,000 300,000,000 488,000,000 471,000,000
Dividends on Preferred and Preference Stock 5,000,000 5,000,000 9,000,000 9,000,000
Consolidated Net Income After Dividends on Preferred and Preference Stock of Subsidiaries 282,000,000 295,000,000 479,000,000 462,000,000
Gulf Power [Member]
       
Operating Revenues:        
Retail revenues 305,550,000 294,878,000 565,427,000 533,398,000
Wholesale revenues, non-affiliates 31,894,000 28,729,000 53,102,000 55,847,000
Wholesale revenues, affiliates 19,050,000 28,702,000 48,505,000 65,066,000
Other revenues 14,679,000 17,899,000 30,413,000 32,142,000
Total operating revenues 371,173,000 370,208,000 697,447,000 686,453,000
Operating Expenses:        
Fuel 140,347,000 141,220,000 261,193,000 262,308,000
Purchased power, non-affiliates 13,054,000 12,085,000 24,189,000 23,310,000
Purchased power, affiliates 10,934,000 5,210,000 14,246,000 7,723,000
Other operations and maintenance 76,846,000 79,779,000 155,508,000 155,009,000
Depreciation and amortization 37,081,000 35,173,000 74,134,000 68,480,000
Taxes other than income taxes 23,760,000 25,276,000 47,386,000 49,060,000
Total operating expenses 302,022,000 298,743,000 576,656,000 565,890,000
Operating Income 69,151,000 71,465,000 120,791,000 120,563,000
Other Income and (Expense):        
Allowance for equity funds used during construction 1,521,000 1,736,000 2,655,000 2,973,000
Interest expense, net of amounts capitalized (14,293,000) (15,698,000) (28,662,000) (31,066,000)
Other income (expense), net (1,391,000) 1,112,000 (2,367,000) 103,000
Total other income and (expense) (14,163,000) (12,850,000) (28,374,000) (27,990,000)
Earnings Before Income Taxes 54,988,000 58,615,000 92,417,000 92,573,000
Income taxes 20,755,000 22,102,000 34,841,000 33,843,000
Consolidated Net Income 34,233,000 36,513,000 57,576,000 58,730,000
Dividends on Preferred and Preference Stock 1,651,000 1,550,000 3,202,000 3,101,000
Consolidated Net Income After Dividends on Preferred and Preference Stock of Subsidiaries 32,582,000 34,963,000 54,374,000 55,629,000
Mississippi Power [Member]
       
Operating Revenues:        
Retail revenues 214,254,000 192,177,000 382,564,000 358,448,000
Wholesale revenues, non-affiliates 71,938,000 64,116,000 137,047,000 118,347,000
Wholesale revenues, affiliates 15,902,000 5,324,000 24,243,000 9,364,000
Other revenues 4,341,000 4,467,000 8,515,000 8,639,000
Total operating revenues 306,435,000 266,084,000 552,369,000 494,798,000
Operating Expenses:        
Fuel 142,193,000 105,469,000 246,757,000 194,088,000
Purchased power, non-affiliates 1,778,000 1,134,000 3,145,000 3,077,000
Purchased power, affiliates 3,922,000 10,843,000 13,611,000 19,703,000
Other operations and maintenance 54,456,000 60,501,000 109,268,000 115,396,000
Depreciation and amortization 22,209,000 22,517,000 45,442,000 44,998,000
Taxes other than income taxes 20,272,000 18,634,000 39,689,000 40,337,000
Estimated loss on Kemper IGCC 450,000,000 0 912,000,000 0
Total operating expenses 694,830,000 219,098,000 1,369,912,000 417,599,000
Operating Income (388,395,000) 46,986,000 (817,543,000) 77,199,000
Other Income and (Expense):        
Allowance for equity funds used during construction 29,042,000 13,870,000 55,116,000 25,697,000
Interest expense, net of amounts capitalized (10,389,000) (13,023,000) (20,798,000) (20,828,000)
Other income (expense), net (2,262,000) (159,000) (3,809,000) (281,000)
Total other income and (expense) 16,391,000 688,000 30,509,000 4,588,000
Earnings Before Income Taxes (372,004,000) 47,674,000 (787,034,000) 81,787,000
Income taxes (153,327,000) 12,214,000 (322,469,000) 20,639,000
Consolidated Net Income (218,677,000) 35,460,000 (464,565,000) 61,148,000
Dividends on Preferred and Preference Stock 433,000 433,000 866,000 866,000
Consolidated Net Income After Dividends on Preferred and Preference Stock of Subsidiaries (219,110,000) 35,027,000 (465,431,000) 60,282,000
Southern Power [Member]
       
Operating Revenues:        
Wholesale revenues, non-affiliates 216,647,000 177,865,000 440,076,000 318,422,000
Wholesale revenues, affiliates 88,638,000 105,950,000 166,829,000 217,738,000
Other revenues 1,970,000 1,990,000 3,297,000 3,326,000
Total operating revenues 307,255,000 285,805,000 610,202,000 539,486,000
Operating Expenses:        
Fuel 110,630,000 91,551,000 230,002,000 180,629,000
Purchased power, non-affiliates 22,307,000 22,514,000 36,880,000 43,164,000
Purchased power, affiliates 6,282,000 2,914,000 14,147,000 5,254,000
Other operations and maintenance 62,661,000 40,205,000 113,611,000 88,594,000
Depreciation and amortization 44,898,000 34,016,000 85,058,000 65,929,000
Taxes other than income taxes 5,453,000 4,567,000 10,807,000 9,535,000
Total operating expenses 252,231,000 195,767,000 490,505,000 393,105,000
Operating Income 55,024,000 90,038,000 119,697,000 146,381,000
Other Income and (Expense):        
Interest expense, net of amounts capitalized (20,568,000) (13,949,000) (40,962,000) (27,591,000)
Other income (expense), net (1,691,000) (194,000) (1,948,000) (164,000)
Total other income and (expense) (22,259,000) (14,143,000) (42,910,000) (27,755,000)
Earnings Before Income Taxes 32,765,000 75,895,000 76,787,000 118,626,000
Income taxes 4,843,000 29,293,000 19,673,000 42,708,000
Consolidated Net Income $ 27,922,000 $ 46,602,000 $ 57,114,000 $ 75,918,000
[1] After dividends on preferred and preference stock of subsidiaries.
[2] Segment net income (loss) for the three months ended June 30, 2013 includes a $450 million pre-tax charge ($277.9 million after tax) for an estimated probable loss on the Kemper IGCC. See Note (B) under "Integrated Coal Gasification Combined Cycle – Kemper IGCC Cost Estimate" herein for additional information.