XML 56 R2.htm IDEA: XBRL DOCUMENT v3.6.0.2
Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
6 Months Ended 12 Months Ended
Dec. 31, 2016
Jun. 30, 2016
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Operating Revenues:          
Retail revenues     $ 15,234 $ 14,987 $ 15,550
Wholesale electric revenues     1,926 1,798 2,184
Other electric revenues     698 657 672
Natural gas revenues     1,596 0 0
Other revenues     442 47 61
Total operating revenues     19,896 17,489 18,467
Operating Expenses:          
Fuel     4,361 4,750 6,005
Purchased power     750 645 672
Cost of natural gas     613 0 0
Cost of other sales     260 0 0
Other operations and maintenance     5,240 4,416 4,354
Depreciation and amortization     2,923 2,395 2,293
Depreciation and amortization     2,502 2,034 1,945
Taxes other than income taxes     1,113 997 981
Estimated loss on Kemper IGCC     428 365 868
Total operating expenses     15,267 13,207 14,825
Operating Income     4,629 4,282 3,642
Other Income and (Expense):          
Allowance for equity funds used during construction     202 226 245
Earnings from equity method investments     59 0 0
Interest expense, net of amounts capitalized     (1,317) (840) (835)
Other income (expense), net     (93) (39) (44)
Total other income and (expense)     (1,149) (653) (634)
Earnings Before Income Taxes     3,480 3,629 3,008
Income taxes     951 1,194 977
Consolidated Net Income     2,529 2,435 2,031
Dividends on preferred and preference stock of subsidiaries     45 54 68
Net income attributable to noncontrolling interests     36 14 0
Consolidated Net Income Attributable to Southern Company     $ 2,448 $ 2,367 $ 1,963
Earnings per share (EPS) —          
Basic EPS (in dollars per share)     $ 2.57 $ 2.60 $ 2.19
Diluted EPS (in dollars per share)     $ 2.55 $ 2.59 $ 2.18
Average number of shares of common stock outstanding — (in millions)          
Basic shares     951 910 897
Diluted shares     958 914 901
Alabama Power [Member]          
Operating Revenues:          
Retail revenues     $ 5,322 $ 5,234 $ 5,249
Wholesale revenues, non-affiliates     283 241 281
Wholesale revenues, affiliates     69 84 189
Other revenues     215 209 223
Total operating revenues     5,889 5,768 5,942
Operating Expenses:          
Fuel     1,297 1,342 1,605
Purchased power, non-affiliates     166 171 185
Purchased power, affiliates     168 180 200
Other operations and maintenance     1,510 1,501 1,468
Depreciation and amortization     844 780 724
Depreciation and amortization     703 643 603
Taxes other than income taxes     380 368 356
Total operating expenses     4,224 4,205 4,417
Operating Income     1,665 1,563 1,525
Other Income and (Expense):          
Allowance for equity funds used during construction     28 60 49
Interest expense, net of amounts capitalized     (302) (274) (255)
Other income (expense), net     (21) (32) (7)
Total other income and (expense)     (295) (246) (213)
Earnings Before Income Taxes     1,370 1,317 1,312
Income taxes     531 506 512
Consolidated Net Income     839 811 800
Dividends on preferred and preference stock of subsidiaries     17 26 39
Consolidated Net Income Attributable to Southern Company     822 785 761
Georgia Power [Member]          
Operating Revenues:          
Retail revenues     7,772 7,727 8,240
Wholesale revenues, non-affiliates     175 215 335
Wholesale revenues, affiliates     42 20 42
Other revenues     394 364 371
Total operating revenues     8,383 8,326 8,988
Operating Expenses:          
Fuel     1,807 2,033 2,547
Purchased power, non-affiliates     361 289 287
Purchased power, affiliates     518 575 701
Other operations and maintenance     1,960 1,844 1,902
Depreciation and amortization     1,063 1,029 1,019
Depreciation and amortization     855 846 846
Taxes other than income taxes     405 391 409
Total operating expenses     5,906 5,978 6,692
Operating Income     2,477 2,348 2,296
Other Income and (Expense):          
Allowance for equity funds used during construction     48 40 45
Interest expense, net of amounts capitalized     (388) (363) (348)
Other income (expense), net     38 61 23
Total other income and (expense)     (350) (302) (325)
Earnings Before Income Taxes     2,127 2,046 1,971
Income taxes     780 769 729
Consolidated Net Income     1,347 1,277 1,242
Dividends on preferred and preference stock of subsidiaries     17 17 17
Consolidated Net Income Attributable to Southern Company     1,330 1,260 1,225
Gulf Power [Member]          
Operating Revenues:          
Retail revenues     1,281 1,249 1,267
Wholesale revenues, non-affiliates     61 107 129
Wholesale revenues, affiliates     75 58 130
Other revenues     68 69 64
Total operating revenues     1,485 1,483 1,590
Operating Expenses:          
Fuel     432 445 605
Purchased power, non-affiliates     126 100 82
Purchased power, affiliates     16 35 25
Other operations and maintenance     336 354 341
Depreciation and amortization     179 152 153
Depreciation and amortization     172 141 145
Taxes other than income taxes     120 118 111
Total operating expenses     1,202 1,193 1,309
Operating Income     283 290 281
Other Income and (Expense):          
Interest expense, net of amounts capitalized     (47) (49) (53)
Other income (expense), net     (5) 8 9
Total other income and (expense)     (52) (41) (44)
Earnings Before Income Taxes     231 249 237
Income taxes     91 92 88
Consolidated Net Income     140 157 149
Dividends on preferred and preference stock of subsidiaries     9 9 9
Consolidated Net Income Attributable to Southern Company     131 148 140
Mississippi Power [Member]          
Operating Revenues:          
Retail revenues     859 776 795
Wholesale revenues, non-affiliates     261 270 323
Wholesale revenues, affiliates     26 76 107
Other revenues     17 16 18
Total operating revenues     1,163 1,138 1,243
Operating Expenses:          
Fuel     343 443 574
Purchased power, non-affiliates     5 5 18
Purchased power, affiliates     29 7 25
Other operations and maintenance     312 274 271
Depreciation and amortization     157 126 104
Depreciation and amortization     132 123 97
Taxes other than income taxes     109 94 79
Estimated loss on Kemper IGCC     428 365 868
Total operating expenses     1,358 1,311 1,932
Operating Income     (195) (173) (689)
Other Income and (Expense):          
Allowance for equity funds used during construction     124 110 136
Interest expense, net of amounts capitalized     (74) (7) (45)
Other income (expense), net     (7) (8) (14)
Total other income and (expense)     43 95 77
Earnings Before Income Taxes     (152) (78) (612)
Income taxes     (104) (72) (285)
Consolidated Net Income     (48) (6) (327)
Dividends on preferred and preference stock of subsidiaries     2 2 2
Consolidated Net Income Attributable to Southern Company     (50) (8) (329)
Southern Power [Member]          
Operating Revenues:          
Wholesale revenues, non-affiliates     1,146 964 1,116
Wholesale revenues, affiliates     419 417 383
Other revenues     12 9 2
Total operating revenues     1,577 1,390 1,501
Operating Expenses:          
Fuel     456 441 596
Purchased power, non-affiliates     81 72 105
Purchased power, affiliates     21 21 66
Other operations and maintenance     354 260 237
Depreciation and amortization     370 254 225
Depreciation and amortization     352 248 220
Taxes other than income taxes     23 22 22
Total operating expenses     1,287 1,064 1,246
Operating Income     290 326 255
Other Income and (Expense):          
Interest expense, net of amounts capitalized     (117) (77) (89)
Other income (expense), net     6 1 6
Total other income and (expense)     (111) (76) (83)
Earnings Before Income Taxes     179 250 172
Income taxes     (195) 21 (3)
Consolidated Net Income     374 229 175
Net income attributable to noncontrolling interests     36 14 3
Net income attributable to Southern Power Company     $ 338 215 172
Predecessor [Member] | Southern Company Gas [Member]          
Operating Revenues:          
Natural gas revenues   $ 1,841   3,817 5,257
Other revenues   64   124 128
Total operating revenues   1,905   3,941 5,385
Operating Expenses:          
Cost of natural gas   755   1,617 2,729
Cost of other sales   14   28 36
Other operations and maintenance   454   928 939
Depreciation and amortization   206   397 380
Taxes other than income taxes   99   181 208
Merger-related expenses   56   44 0
Total operating expenses   1,584   3,195 4,292
Gain on disposition of assets   0   0 2
Operating Income   321   746 1,095
Other Income and (Expense):          
Earnings from equity method investments   2   6 8
Interest expense, net of amounts capitalized   (96)   (175) (182)
Other income (expense), net   5   9 9
Total other income and (expense)   (89)   (160) (165)
Earnings Before Income Taxes   232   586 930
Income taxes   87   213 350
Income from continuing operations   145   373 580
Loss from discontinued operations, net of tax   0   0 80
Consolidated Net Income   145   373 500
Net income attributable to noncontrolling interests   14   20 18
Consolidated Net Income Attributable to Southern Company   $ 131   $ 353 $ 482
Successor [Member] | Southern Company Gas [Member]          
Operating Revenues:          
Natural gas revenues $ 1,596        
Other revenues 56        
Total operating revenues 1,652        
Operating Expenses:          
Cost of natural gas 613        
Cost of other sales 10        
Other operations and maintenance 482        
Depreciation and amortization 238        
Taxes other than income taxes 71        
Merger-related expenses 41        
Total operating expenses 1,455        
Gain on disposition of assets 0        
Operating Income 197        
Other Income and (Expense):          
Earnings from equity method investments 60        
Interest expense, net of amounts capitalized (81)        
Other income (expense), net 14        
Total other income and (expense) (7)        
Earnings Before Income Taxes 190        
Income taxes 76        
Income from continuing operations 114        
Loss from discontinued operations, net of tax 0        
Consolidated Net Income 114        
Net income attributable to noncontrolling interests 0        
Consolidated Net Income Attributable to Southern Company $ 114