XML 100 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Operating Activities:    
Consolidated net income $ 368,000,000 $ 97,000,000
Adjustments to reconcile consolidated net income to net cash provided from operating activities --    
Depreciation and amortization, total 587,000,000 568,000,000
Deferred income taxes (37,000,000) (92,000,000)
Allowance for equity funds used during construction (57,000,000) (41,000,000)
Stock based compensation expense 28,000,000 26,000,000
Estimated loss on Kemper IGCC 380,000,000 540,000,000
Other, net (8,000,000) (19,000,000)
Changes in certain current assets and liabilities --    
-Receivables (128,000,000) 29,000,000
-Fossil fuel stock 441,000,000 36,000,000
-Materials and supplies (5,000,000) 52,000,000
-Other current assets (114,000,000) (72,000,000)
-Accounts payable (109,000,000) (47,000,000)
-Accrued taxes (44,000,000) (98,000,000)
-Accrued compensation (144,000,000) (282,000,000)
-Other current liabilities (55,000,000) 40,000,000
Net cash provided from operating activities 1,103,000,000 737,000,000
Investing Activities:    
Property additions (1,180,000,000) (1,197,000,000)
Investment of restricted cash 0 (78,000,000)
Distribution of restricted cash 9,000,000 1,000,000
Nuclear decommissioning trust fund purchases (231,000,000) (262,000,000)
Nuclear decommissioning trust fund sales 229,000,000 261,000,000
Cost of removal, net of salvage (22,000,000) (30,000,000)
Change in construction payables 51,000,000 6,000,000
Prepaid long-term service agreement (64,000,000) (31,000,000)
Other investing activities (7,000,000) 51,000,000
Net cash used for investing activities (1,215,000,000) (1,279,000,000)
Financing Activities:    
Increase (decrease) in notes payable, net (884,000,000) 468,000,000
Proceeds --    
Long-term debt issuances 1,251,000,000 1,035,000,000
Interest-bearing refundable deposit related to asset sale 75,000,000 0
Common stock issuances 128,000,000 42,000,000
Redemptions --    
Long-term debt (9,000,000) (656,000,000)
Common stock repurchased (4,000,000) (18,000,000)
Payment of common stock dividends (451,000,000) (426,000,000)
Payment of dividends on preferred and preference stock of subsidiaries (17,000,000) (16,000,000)
Other financing activities (46,000,000) 0
Net cash provided from (used for) financing activities 43,000,000 429,000,000
Net Change in Cash and Cash Equivalents (69,000,000) (113,000,000)
Cash and Cash Equivalents at Beginning of Period 659,000,000 628,000,000
Cash and Cash Equivalents at End of Period 590,000,000 515,000,000
Cash paid (received) during the period for --    
Interest (net of capitalized amounts) 186,000,000 187,000,000
Income taxes, net (7,000,000) 4,000,000
Noncash transactions - accrued property additions at end of period 450,000,000 501,000,000
Alabama Power [Member]
   
Operating Activities:    
Consolidated net income 197,000,000 151,000,000
Adjustments to reconcile consolidated net income to net cash provided from operating activities --    
Depreciation and amortization, total 210,000,000 206,000,000
Deferred income taxes 25,000,000 25,000,000
Allowance for equity funds used during construction (10,000,000) (8,000,000)
Other, net (22,000,000) 9,000,000
Changes in certain current assets and liabilities --    
-Receivables (17,000,000) (13,000,000)
-Fossil fuel stock 99,000,000 28,000,000
-Materials and supplies 3,000,000 16,000,000
-Other current assets (81,000,000) (71,000,000)
-Accounts payable (139,000,000) (124,000,000)
-Accrued taxes 147,000,000 90,000,000
-Accrued compensation (37,000,000) (61,000,000)
-Retail fuel cost over recovery - short-term (20,000,000) 21,000,000
-Other current liabilities (3,000,000) 1,000,000
Net cash provided from operating activities 352,000,000 270,000,000
Investing Activities:    
Property additions (287,000,000) (274,000,000)
Nuclear decommissioning trust fund purchases (56,000,000) (57,000,000)
Nuclear decommissioning trust fund sales 56,000,000 57,000,000
Cost of removal, net of salvage (12,000,000) (9,000,000)
Change in construction payables 49,000,000 (1,000,000)
Other investing activities (5,000,000) 37,000,000
Net cash used for investing activities (255,000,000) (247,000,000)
Financing Activities:    
Increase (decrease) in notes payable, net 0 45,000,000
Proceeds --    
Capital contributions from parent company 7,000,000 5,000,000
Redemptions --    
Payment of preferred and preference stock dividends (10,000,000) (10,000,000)
Payment of common stock dividends (137,000,000) (132,000,000)
Other financing activities 0 (3,000,000)
Net cash provided from (used for) financing activities (140,000,000) (95,000,000)
Net Change in Cash and Cash Equivalents (43,000,000) (72,000,000)
Cash and Cash Equivalents at Beginning of Period 295,000,000 137,000,000
Cash and Cash Equivalents at End of Period 252,000,000 65,000,000
Cash paid (received) during the period for --    
Interest (net of capitalized amounts) 61,000,000 64,000,000
Income taxes, net (28,000,000) (3,000,000)
Noncash transactions - accrued property additions at end of period 66,000,000 30,000,000
Georgia Power [Member]
   
Operating Activities:    
Consolidated net income 270,000,000 201,000,000
Adjustments to reconcile consolidated net income to net cash provided from operating activities --    
Depreciation and amortization, total 250,000,000 239,000,000
Deferred income taxes 96,000,000 59,000,000
Allowance for equity funds used during construction (6,000,000) (6,000,000)
Retail fuel cost over recovery - long-term (44,000,000) (58,000,000)
Deferred expenses 33,000,000 31,000,000
Other, net (14,000,000) (27,000,000)
Changes in certain current assets and liabilities --    
-Receivables (83,000,000) 40,000,000
-Fossil fuel stock 257,000,000 (4,000,000)
-Prepaid income taxes (11,000,000) 11,000,000
-Other current assets (12,000,000) 42,000,000
-Accounts payable (28,000,000) 78,000,000
-Accrued taxes (166,000,000) (127,000,000)
-Accrued compensation (38,000,000) (66,000,000)
-Retail fuel cost over recovery - short-term (14,000,000) 10,000,000
-Other current liabilities 9,000,000 5,000,000
Net cash provided from operating activities 499,000,000 428,000,000
Investing Activities:    
Property additions (460,000,000) (419,000,000)
Investment of restricted cash 0 (18,000,000)
Nuclear decommissioning trust fund purchases (175,000,000) (205,000,000)
Nuclear decommissioning trust fund sales 173,000,000 204,000,000
Cost of removal, net of salvage (3,000,000) (17,000,000)
Prepaid long-term service agreement (44,000,000) (5,000,000)
Change in construction payables, net of joint owner portion 28,000,000 (25,000,000)
Other investing activities 1,000,000 6,000,000
Net cash used for investing activities (480,000,000) (479,000,000)
Financing Activities:    
Increase (decrease) in notes payable, net (749,000,000) 300,000,000
Proceeds --    
Capital contributions from parent company 12,000,000 11,000,000
Pollution control revenue bonds issuances 0 18,000,000
Senior notes issuances 0 650,000,000
FFB loan 1,000,000,000 0
Redemptions --    
Senior notes 0 (650,000,000)
Payment of preferred and preference stock dividends (4,000,000) (4,000,000)
Payment of common stock dividends (238,000,000) (227,000,000)
FFB loan issuance costs (49,000,000) (1,000,000)
Other financing activities (3,000,000) (12,000,000)
Net cash provided from (used for) financing activities (31,000,000) 85,000,000
Net Change in Cash and Cash Equivalents (12,000,000) 34,000,000
Cash and Cash Equivalents at Beginning of Period 30,000,000 45,000,000
Cash and Cash Equivalents at End of Period 18,000,000 79,000,000
Cash paid (received) during the period for --    
Interest (net of capitalized amounts) 71,000,000 72,000,000
Income taxes, net 11,000,000 3,000,000
Noncash transactions - accrued property additions at end of period 229,000,000 212,000,000
Gulf Power [Member]
   
Operating Activities:    
Consolidated net income 38,994,000 23,343,000
Adjustments to reconcile consolidated net income to net cash provided from operating activities --    
Depreciation and amortization, total 33,764,000 38,794,000
Deferred income taxes 14,287,000 16,777,000
Allowance for equity funds used during construction (2,379,000) (1,134,000)
Pension, postretirement, and other employee benefits 1,553,000 2,889,000
Stock based compensation expense 734,000 669,000
Other, net 503,000 2,485,000
Changes in certain current assets and liabilities --    
-Receivables (25,275,000) (2,305,000)
-Prepayments 1,126,000 934,000
-Fossil fuel stock 46,267,000 1,423,000
-Materials and supplies (167,000) (513,000)
-Prepaid income taxes 10,495,000 (7,667,000)
-Other current assets (422,000) 0
-Accounts payable 5,746,000 (17,812,000)
-Accrued taxes 9,110,000 5,380,000
-Accrued compensation (4,801,000) (9,451,000)
-Over recovered regulatory clause revenues 5,490,000 (10,186,000)
-Other current liabilities 7,125,000 6,073,000
Net cash provided from operating activities 142,150,000 49,699,000
Investing Activities:    
Property additions (78,789,000) (66,696,000)
Cost of removal, net of salvage (3,059,000) (3,469,000)
Change in construction payables 1,129,000 1,787,000
Payments pursuant to long-term service agreements (2,127,000) (1,558,000)
Other investing activities 97,000 243,000
Net cash used for investing activities (82,749,000) (69,693,000)
Financing Activities:    
Increase (decrease) in notes payable, net (75,388,000) 5,809,000
Proceeds --    
Capital contributions from parent company 668,000 556,000
Common stock issuances 50,000,000 40,000,000
Redemptions --    
Payment of preferred and preference stock dividends (2,251,000) (1,551,000)
Payment of common stock dividends (30,800,000) (28,850,000)
Other financing activities (27,000) (206,000)
Net cash provided from (used for) financing activities (57,798,000) 15,758,000
Net Change in Cash and Cash Equivalents 1,603,000 (4,236,000)
Cash and Cash Equivalents at Beginning of Period 21,753,000 32,167,000
Cash and Cash Equivalents at End of Period 23,356,000 27,931,000
Cash paid (received) during the period for --    
Interest (net of capitalized amounts) 4,630,000 8,306,000
Income taxes, net (5,839,000) 3,886,000
Noncash transactions - accrued property additions at end of period 33,186,000 22,462,000
Mississippi Power [Member]
   
Operating Activities:    
Consolidated net income (171,615,000) (245,888,000)
Adjustments to reconcile consolidated net income to net cash provided from operating activities --    
Depreciation and amortization, total 24,035,000 21,692,000
Deferred income taxes (124,158,000) (174,082,000)
Investment tax credits 2,626,000 0
Allowance for equity funds used during construction (38,082,000) (26,074,000)
Pension, postretirement, and other employee benefits 1,037,000 2,926,000
Stock based compensation expense 1,324,000 1,033,000
Regulatory assets associated with Kemper IGCC (13,226,000) (6,843,000)
Estimated loss on Kemper IGCC 380,000,000 462,000,000
Kemper regulatory deferral 34,342,000 0
Other, net 2,555,000 (628,000)
Changes in certain current assets and liabilities --    
-Receivables (13,525,000) (5,226,000)
-Fossil fuel stock 36,595,000 8,415,000
-Materials and supplies (2,970,000) (4,744,000)
-Prepaid income taxes (32,720,000) 1,573,000
-Other current assets (2,000,000) (2,389,000)
-Accounts payable 14,900,000 (13,783,000)
-Accrued taxes (54,996,000) (45,429,000)
-Accrued interest 8,225,000 6,570,000
-Accrued compensation (2,080,000) (10,247,000)
-Over recovered regulatory clause revenues (18,358,000) 2,996,000
-Other current liabilities 293,000 2,971,000
Net cash provided from operating activities 32,202,000 (25,157,000)
Investing Activities:    
Property additions (323,816,000) (369,313,000)
Cost of removal, net of salvage (3,997,000) (902,000)
Change in construction payables (30,519,000) 23,150,000
Capital grant proceeds 0 1,784,000
Other investing activities (3,100,000) (7,145,000)
Net cash used for investing activities (361,432,000) (352,426,000)
Proceeds --    
Capital contributions from parent company 687,000 100,552,000
Bonds-Other 0 15,814,000
Interest-bearing refundable deposit related to asset sale 75,000,000 0
Other long-term debt issuances 250,000,000 350,000,000
Redemptions — Capital leases (623,000) 0
Redemptions --    
Payment of preferred and preference stock dividends (433,000) (433,000)
Payment of common stock dividends 0 (44,190,000)
Return of capital (54,930,000) 0
Other financing activities (454,000) (1,409,000)
Net cash provided from (used for) financing activities 269,247,000 420,334,000
Net Change in Cash and Cash Equivalents (59,983,000) 42,751,000
Cash and Cash Equivalents at Beginning of Period 145,165,000 145,008,000
Cash and Cash Equivalents at End of Period 85,182,000 187,759,000
Cash paid (received) during the period for --    
Interest (net of capitalized amounts) 3,028,000 4,860,000
Income taxes, net 26,078,000 (25,000)
Noncash transactions - accrued property additions at end of period 132,065,000 238,013,000
Southern Power [Member]
   
Operating Activities:    
Consolidated net income 34,287,000 29,192,000
Adjustments to reconcile consolidated net income to net cash provided from operating activities --    
Depreciation and amortization, total 50,264,000 42,790,000
Deferred income taxes (14,087,000) 13,587,000
Investment tax credits 26,134,000 (493,000)
Deferred revenues (20,033,000) (20,432,000)
Other, net 2,184,000 233,000
Changes in certain current assets and liabilities --    
-Receivables 21,034,000 11,743,000
-Fossil fuel stock 2,487,000 1,840,000
-Materials and supplies (2,763,000) (1,546,000)
-Prepaid income taxes 14,911,000 1,600,000
-Other current assets 2,129,000 1,324,000
-Accounts payable 2,232,000 (6,933,000)
-Accrued taxes 5,831,000 4,155,000
-Accrued interest (14,502,000) (10,841,000)
-Other current liabilities (42,000) (314,000)
Net cash provided from operating activities 110,066,000 65,905,000
Investing Activities:    
Property additions (5,468,000) (58,553,000)
Change in construction payables 543,000 3,704,000
Payments pursuant to long-term service agreements (10,029,000) (11,741,000)
Other investing activities 54,000 (224,000)
Net cash used for investing activities (14,900,000) (66,814,000)
Financing Activities:    
Increase (decrease) in notes payable, net 0 76,985,000
Proceeds --    
Capital contributions from parent company (2,752,000) 1,033,000
Other long-term debt issuances 639,000 1,717,000
Redemptions --    
Other long-term debt (818,000) (220,000)
Distributions to noncontrolling interest (150,000) 0
Contributions from noncontrolling interest 471,000 0
Payment of common stock dividends (32,780,000) (32,280,000)
Other financing activities 631,000 678,000
Net cash provided from (used for) financing activities (34,759,000) 47,913,000
Net Change in Cash and Cash Equivalents 60,407,000 47,004,000
Cash and Cash Equivalents at Beginning of Period 68,744,000 28,592,000
Cash and Cash Equivalents at End of Period 129,151,000 75,596,000
Cash paid (received) during the period for --    
Interest (net of capitalized amounts) 35,790,000 28,120,000
Income taxes, net (44,468,000) (179,000)
Noncash transactions - accrued property additions at end of period $ 4,810,000 $ 8,907,000