XML 32 R2.htm IDEA: XBRL DOCUMENT v3.4.0.3
Condensed Consolidated Statements of Income (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Operating Revenues:    
Retail revenues $ 3,377 $ 3,542
Wholesale revenues 396 467
Other electric revenues 181 163
Other revenues 11 11
Total operating revenues 3,965 4,183
Operating Expenses:    
Fuel 911 1,212
Purchased power 165 144
Other operations and maintenance 1,106 1,122
Depreciation and amortization 541 487
Taxes other than income taxes 256 252
Estimated loss on Kemper IGCC 53 9
Total operating expenses 3,032 3,226
Operating Income (Loss) 933 957
Other Income and (Expense):    
Allowance for equity funds used during construction 53 63
Interest expense, net of amounts capitalized (246) (213)
Other income (expense), net (21) (8)
Total other income and (expense) (214) (158)
Earnings Before Income Taxes 719 799
Income taxes (benefit) 222 274
Net Income (Loss) 497 525
Less: Net income attributable to noncontrolling interests 1 0
Dividends on preferred and preference stock of subsidiaries 11 17
Net Income (Loss) After Dividends on Preferred and Preference Stock of Subsidiaries $ 485 $ 508
Earnings per share (EPS) -    
Basic EPS (in dollars per share) $ 0.53 $ 0.56
Diluted EPS (in dollars per share) $ 0.53 $ 0.56
Average number of shares of common stock outstanding (in millions)    
Basic (in shares) 916 910
Diluted (in shares) 922 915
Cash dividends paid per share of common stock (in dollars per share) $ 0.5425 $ 0.525
Alabama Power [Member]    
Operating Revenues:    
Retail revenues $ 1,193 $ 1,268
Wholesale revenues, non-affiliates 63 65
Wholesale revenues, affiliates 22 15
Other revenues 53 53
Total operating revenues 1,331 1,401
Operating Expenses:    
Fuel 268 310
Purchased power, non-affiliates 36 41
Purchased power, affiliates 33 53
Other operations and maintenance 392 399
Depreciation and amortization 172 158
Taxes other than income taxes 97 94
Total operating expenses 998 1,055
Operating Income (Loss) 333 346
Other Income and (Expense):    
Allowance for equity funds used during construction 10 15
Interest expense, net of amounts capitalized (73) (65)
Other income (expense), net (8) (4)
Total other income and (expense) (71) (54)
Earnings Before Income Taxes 262 292
Income taxes (benefit) 103 113
Net Income (Loss) 159 179
Dividends on preferred and preference stock of subsidiaries 4 10
Net Income (Loss) After Dividends on Preferred and Preference Stock of Subsidiaries 155 169
Georgia Power [Member]    
Operating Revenues:    
Retail revenues 1,717 1,814
Wholesale revenues, non-affiliates 41 68
Wholesale revenues, affiliates 5 8
Other revenues 109 88
Total operating revenues 1,872 1,978
Operating Expenses:    
Fuel 376 526
Purchased power, non-affiliates 83 60
Purchased power, affiliates 139 149
Other operations and maintenance 457 474
Depreciation and amortization 211 216
Taxes other than income taxes 97 99
Total operating expenses 1,363 1,524
Operating Income (Loss) 509 454
Other Income and (Expense):    
Allowance for equity funds used during construction 14 15
Interest expense, net of amounts capitalized (94) (89)
Other income (expense), net 17 15
Total other income and (expense) (77) (74)
Earnings Before Income Taxes 432 380
Income taxes (benefit) 160 140
Net Income (Loss) 272 240
Dividends on preferred and preference stock of subsidiaries 4 4
Net Income (Loss) After Dividends on Preferred and Preference Stock of Subsidiaries 268 236
Gulf Power [Member]    
Operating Revenues:    
Retail revenues 283 293
Wholesale revenues, non-affiliates 16 25
Wholesale revenues, affiliates 21 22
Other revenues 15 17
Total operating revenues 335 357
Operating Expenses:    
Fuel 94 110
Purchased power, non-affiliates 30 25
Purchased power, affiliates 2 9
Other operations and maintenance 77 93
Depreciation and amortization 38 20
Taxes other than income taxes 29 28
Total operating expenses 270 285
Operating Income (Loss) 65 72
Other Income and (Expense):    
Allowance for equity funds used during construction 0 4
Interest expense, net of amounts capitalized (13) (13)
Other income (expense), net (1) (1)
Total other income and (expense) (14) (10)
Earnings Before Income Taxes 51 62
Income taxes (benefit) 20 23
Net Income (Loss) 31 39
Dividends on preferred and preference stock of subsidiaries 2 2
Net Income (Loss) After Dividends on Preferred and Preference Stock of Subsidiaries 29 37
Mississippi Power [Member]    
Operating Revenues:    
Retail revenues 183 167
Wholesale revenues, non-affiliates 60 77
Wholesale revenues, affiliates 9 27
Other revenues 5 5
Total operating revenues 257 276
Operating Expenses:    
Fuel 76 114
Purchased power, non-affiliates 0 2
Purchased power, affiliates 5 2
Other operations and maintenance 69 73
Depreciation and amortization 38 27
Taxes other than income taxes 26 25
Estimated loss on Kemper IGCC 53 9
Total operating expenses 267 252
Operating Income (Loss) (10) 24
Other Income and (Expense):    
Allowance for equity funds used during construction 29 28
Interest expense, net of amounts capitalized (16) (11)
Other income (expense), net (2) (2)
Total other income and (expense) 11 15
Earnings Before Income Taxes 1 39
Income taxes (benefit) (10) 4
Net Income (Loss) 11 35
Dividends on preferred and preference stock of subsidiaries 0 0
Net Income (Loss) After Dividends on Preferred and Preference Stock of Subsidiaries 11 35
Southern Power [Member]    
Operating Revenues:    
Wholesale revenues, non-affiliates 215 232
Wholesale revenues, affiliates 97 114
Other revenues 3 2
Total operating revenues 315 348
Operating Expenses:    
Fuel 91 138
Purchased power, non-affiliates 13 16
Purchased power, affiliates 6 10
Other operations and maintenance 79 52
Depreciation and amortization 73 59
Taxes other than income taxes 6 6
Total operating expenses 268 281
Operating Income (Loss) 47 67
Other Income and (Expense):    
Interest expense, net of amounts capitalized (21) (22)
Other income (expense), net 2 0
Total other income and (expense) (19) (22)
Earnings Before Income Taxes 28 45
Income taxes (benefit) (23) 12
Net Income (Loss) 51 33
Less: Net income attributable to noncontrolling interests 1 0
Net income attributable to Southern Power Company $ 50 $ 33