Financing (Tables)

12 Months Ended

Dec. 31, 2016

Scheduled maturities and redemptions of securities due within one year

A summary of scheduled maturities and redemptions of securities due within one year at December 31 was as follows:



	2016			2015
	(in millions)
Senior notes	$	1,995		$	1,810
Other long-term debt	485			829
Pollution control revenue bonds^(*)	76			4
Capitalized leases	32			32
Unamortized debt issuance expense	(1		)	(1		)
Total	$	2,587		$	2,674


(*)	Includes $40 million of pollution control revenue bonds classified as short-term since they are variable rate demand obligations that are supported by short-term credit facilities; however, the final maturity date is in 2028.

Temporary Equity

The following table presents changes during the year in redeemable preferred stock of subsidiaries for Southern Company:



	Redeemable Preferred Stock of Subsidiaries
	(in millions)
Balance at December 31, 2013	$	375
Issued	—
Redeemed	—
Balance at December 31, 2014	375
Issued	—
Redeemed	(262		)
Other	5
Balance at December 31, 2015	118
Issued	—
Redeemed	—
Balance at December 31, 2016	$	118

Credit arrangements with banks

At December 31, 2016, committed credit arrangements with banks were as follows:



	Expires										Executable Term Loans				Expires Within One Year
Company	2017		2018		2020		Total		Unused		One Year		Two Years		Term Out		No Term Out
	(in millions)						(in millions)				(in millions)				(in millions)
Southern Company^(a)	$	—	$	1,000	$	1,250	$	2,250	$	2,250	$	—	$	—	$	—	$	—
Alabama Power	35		500		800		1,335		1,335		—		—		—		35
Georgia Power	—		—		1,750		1,750		1,732		—		—		—		—
Gulf Power	85		195		—		280		280		45		—		25		60
Mississippi Power	173		—		—		173		150		—		13		13		160
Southern Power Company^(b)	—		—		600		600		522		—		—		—		—
Southern Company Gas^(c)	75		1,925		—		2,000		1,949		—		—		—		75
Other	55		—		—		55		55		20		—		20		35
Southern Company Consolidated	$	423	$	3,620	$	4,400	$	8,443	$	8,273	$	65	$	13	$	58	$	365


(a)	Represents the Southern Company parent entity.

(b)

Excludes credit agreements (Project Credit Facilities) assumed with the acquisition of certain solar facilities, which were non-recourse to Southern Power Company, the proceeds of which were used to finance project costs related to such solar facilities. See Note 12 under "Southern Power" for additional information. Also excludes a $120 million continuing letter of credit facility entered into by Southern Power in December 2016 for standby letters of credit expiring in 2019. At December 31, 2016, the total amount available under the letter of credit facility was $82 million.


(c)	Southern Company Gas, as the parent entity, guarantees the obligations of Southern Company Gas Capital, which is the borrower of $1.3 billion of these arrangements. Southern Company Gas' committed credit arrangements also include $700 million for which Nicor Gas is the borrower and which is restricted for working capital needs of Nicor Gas.

Short-term borrowings

Details of short-term borrowings were as follows:



	Short-term Debt at the End of the Period
	Amount Outstanding		Weighted Average Interest Rate
	(in millions)
December 31, 2016:
Commercial paper	$	1,909	1.1	%
Short-term bank debt	123		1.7	%
Total	$	2,032	1.1	%
December 31, 2015:
Commercial paper	$	740	0.7	%
Short-term bank debt	500		1.4	%
Total	$	1,240	0.9	%

Alabama Power [Member]

Debt Disclosure [Line Items]

Credit arrangements with banks

At December 31, 2016, committed credit arrangements with banks were as follows:



Expires										Expires Within One Year
2017		2018		2020		Total		Unused		Term Out		No Term Out
(in millions)						(in millions)				(in millions)
$	35	$	500	$	800	$	1,335	$	1,335	$	—	$	35

Southern Power [Member]

Debt Disclosure [Line Items]

Scheduled maturities and redemptions of securities due within one year

Maturities of long-term debt are as follows:



	December 31, 2016
	(in millions)
2017	$	561
2018	670
2019	600
2020	300
2021	300

Credit arrangements with banks



Project	Construction Loan Facility		Bridge Loan Facility		Total Loan Facility		Loan Facility Undrawn		Letter of Credit Facility		Letter of Credit Facility Undrawn
	(in millions)
Roserock	$	63	$	180	$	243	$	34	$	23	$	16

Georgia Power [Member]

Debt Disclosure [Line Items]

Scheduled maturities and redemptions of securities due within one year

A summary of scheduled maturities of long-term debt due within one year at December 31 was as follows:



	2016		2015
	(in millions)
Senior notes	$	450	$	700
Pollution control revenue bonds	—		4
Capital leases	10		8
Total	$	460	$	712

Short-term borrowings

Details of commercial paper borrowings outstanding were as follows:



	Commercial Paper at the End of the Period
	Amount Outstanding		Weighted Average Interest Rate
	(in millions)
December 31, 2016	$	392	1.1	%
December 31, 2015	$	158	0.6	%

Gulf Power [Member]

Debt Disclosure [Line Items]

Credit arrangements with banks

At December 31, 2016, committed credit arrangements with banks were as follows:



Expires								Executable Term Loans				Expires Within One Year
2017		2018		Total		Unused		One Year		Two Years		Term Out		No Term Out
(in millions)				(in millions)				(in millions)				(in millions)
$	85	$	195	$	280	$	280	$	45	$	—	$	25	$	60

Short-term borrowings

Details of short-term borrowings were as follows:



	Short-term Debt at the End of the Period
	Amount Outstanding		Weighted Average Interest Rate
	(in millions)
December 31, 2016:
Commercial paper	$	168	1.1%
Short-term bank debt	100		1.5%
Total	$	268	1.2%
December 31, 2015:
Commercial paper	$	142	0.7%

Mississippi Power [Member]

Debt Disclosure [Line Items]

Scheduled maturities and redemptions of securities due within one year

A summary of scheduled maturities and redemptions of securities due within one year at December 31, 2016 and 2015 was as follows:



	2016		2015
	(in millions)
Parent company loans	$	551	$	—
Senior notes	35		300
Bank term loans	—		425
Pollution control revenue bonds^(*)	40		—
Capitalized leases	3		3
Outstanding at December 31	$	629	$	728


(*)	Pollution control revenue bonds are classified as short term since they are variable rate demand obligations that are supported by short-term credit facilities; however, the final maturity date is in 2028.

Credit arrangements with banks

At December 31, 2016, committed credit arrangements with banks were as follows:

Expires

Executable

Term Loans

Expires Within One Year

2017

Total

Unused

One

Year

Two

Years

Term Out

No Term Out

(in millions)

$173

$150

$—

$13

$160

Southern Company Gas [Member]

Debt Disclosure [Line Items]

Temporary Equity

The roll-forwards of the redeemable noncontrolling interest for the successor period of July 1, 2016 through December 31, 2016 and the predecessor period of January 1, 2016 through June 30, 2016 are detailed below:



Predecessor –	(in millions)
Balance at December 31, 2015	$	—
Reclassification of noncontrolling interest to contingently redeemable noncontrolling interest	46
Net income attributable to noncontrolling interest	14
Distribution to noncontrolling interest	(19		)
Balance at June 30, 2016	$	41
Successor –	(in millions)
Balance at July 1, 2016	$	174
Reclassification of contingently redeemable noncontrolling interest to mandatorily redeemable noncontrolling interest	(174		)
Balance at December 31, 2016	$	—

Credit arrangements with banks

At December 31, 2016, committed credit arrangements with banks were as follows:



Successor
	Expires								Expires Within One Year
Company	2017		2018		Total		Unused		Term Out		No Term Out
	(in millions)				(in millions)				(in millions)
Southern Company Gas Capital	$	49	$	1,251	$	1,300	$	1,249	$	—	$	49
Nicor Gas	26		674		700		700		—		26
Total	$	75	$	1,925	$	2,000	$	1,949	$	—	$	75

Short-term borrowings

Details of commercial paper borrowings outstanding were as follows:



	Commercial Paper at the End of the Period
	Amount Outstanding		Weighted Average Interest Rate
	(in millions)
Successor – December 31, 2016:
Southern Company Gas Capital	$	733	1.09	%
Nicor Gas	524		0.95	%
Total	$	1,257	1.03	%

Predecessor – December 31, 2015:
Southern Company Gas Capital	$	471	0.71	%
Nicor Gas	539		0.52	%
Total	$	1,010	0.60	%

Redeemable Preferred Stock [Member] | Alabama Power [Member]

Debt Disclosure [Line Items]

Temporary Equity

Information for each outstanding series is in the table below:



Preferred/Preference Stock	Par Value/Stated Capital Per Share	Shares Outstanding	Redemption Price Per Share
4.92% Preferred Stock	$100	80,000	$103.23
4.72% Preferred Stock	$100	50,000	$102.18
4.64% Preferred Stock	$100	60,000	$103.14
4.60% Preferred Stock	$100	100,000	$104.20
4.52% Preferred Stock	$100	50,000	$102.93
4.20% Preferred Stock	$100	135,115	$105.00
5.83% Class A Preferred Stock	$25	1,520,000	Stated Capital
6.45% Preference Stock	$25	6,000,000	Stated Capital^(*)
6.50% Preference Stock	$25	2,000,000	Stated Capital^(*)


(*)	Also includes a make-whole premium prior to October 1, 2017

Redeemable Preferred Stock [Member] | Mississippi Power [Member]

Debt Disclosure [Line Items]

Temporary Equity

Information for each outstanding series is in the table below:



Preferred Stock	Par Value/Stated Capital Per Share		Shares Outstanding	Redemption Price Per Share
4.40% Preferred Stock	$	100	8,867	$	104.32
4.60% Preferred Stock	$	100	8,643	$	107.00
4.72% Preferred Stock	$	100	16,700	$	102.25
5.25% Preferred Stock^(*)	$	100	300,000	$	100.00