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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Operating Revenues:        
Retail electric revenues $ 3,777 $ 3,748 $ 7,171 $ 7,124
Wholesale electric revenues 618 446 1,149 842
Other electric revenues 167 166 342 348
Natural gas revenues 684 0 2,214 0
Other revenues 184 99 326 137
Total operating revenues 5,430 4,459 11,202 8,451
Operating Expenses:        
Fuel 1,092 1,023 2,088 1,934
Purchased power 211 189 390 354
Cost of natural gas 232 0 951 0
Cost of other sales 114 58 203 77
Other operations and maintenance 1,301 1,099 2,631 2,206
Depreciation and amortization 754 569 1,469 1,110
Taxes other than income taxes 308 255 638 511
Estimated loss on Kemper IGCC 3,012 81 3,120 134
Total operating expenses 7,024 3,274 11,490 6,326
Operating Income (Loss) (1,594) 1,185 (288) 2,125
Other Income and (Expense):        
Allowance for equity funds used during construction 58 45 115 98
Earnings (loss) from equity method investments 28 (1) 67 (1)
Interest expense, net of amounts capitalized (424) (293) (840) (539)
Other income (expense), net (3) (28) (11) (56)
Total other income and (expense) (341) (277) (669) (498)
Earnings (Loss) Before Income Taxes (1,935) 908 (957) 1,627
Income taxes (benefit) (587) 261 (273) 479
Consolidated Net Income (Loss) (1,348) 647 (684) 1,148
Dividends on preferred and preference stock of subsidiaries 11 12 22 23
Net income attributable to noncontrolling interests 22 12 17 13
Net Income $ (1,381) $ 623 $ (723) $ 1,112
Earnings (loss) per share —        
Basic (in dollars per share) $ (1.38) $ 0.67 $ (0.73) $ 1.20
Diluted (in dollars per share) $ (1.37) $ 0.66 $ (0.72) $ 1.20
Average number of shares of common stock outstanding (in millions)        
Basic (in shares) 998 934 996 925
Diluted (in shares) 1,005 940 1,003 931
Cash dividends paid per share of common stock (in dollars per share) $ 0.58 $ 0.56 $ 1.14 $ 1.1025
SOUTHERN POWER CO        
Operating Revenues:        
Wholesale revenues, non-affiliates $ 436 $ 264 $ 783 $ 480
Wholesale revenues, affiliates 90 107 190 204
Other revenues 3 2 6 4
Total operating revenues 529 373 979 688
Operating Expenses:        
Fuel 139 96 271 187
Purchased power, non-affiliates 29 21 54 35
Purchased power, affiliates 11 2 16 8
Other operations and maintenance 97 86 190 162
Depreciation and amortization 129 81 247 154
Taxes other than income taxes 12 6 24 13
Total operating expenses 417 292 802 559
Operating Income (Loss) 112 81 177 129
Other Income and (Expense):        
Interest expense, net of amounts capitalized (48) (22) (97) (43)
Other income (expense), net 2 1 (2) 1
Total other income and (expense) (46) (21) (99) (42)
Earnings (Loss) Before Income Taxes 66 60 78 87
Income taxes (benefit) (38) (41) (90) (65)
Consolidated Net Income (Loss) 104 101 168 152
Net income attributable to noncontrolling interests 22 12 17 13
Net Income 82 89 151 139
ALABAMA POWER CO        
Operating Revenues:        
Retail electric revenues 1,333 1,316 2,560 2,510
Wholesale revenues, non-affiliates 68 67 133 130
Wholesale revenues, affiliates 32 9 65 31
Other revenues 51 52 108 105
Total operating revenues 1,484 1,444 2,866 2,776
Operating Expenses:        
Fuel 303 295 601 564
Purchased power, non-affiliates 40 40 75 76
Purchased power, affiliates 34 55 62 88
Other operations and maintenance 375 355 743 747
Depreciation and amortization 183 175 364 347
Taxes other than income taxes 95 94 191 191
Total operating expenses 1,030 1,014 2,036 2,013
Operating Income (Loss) 454 430 830 763
Other Income and (Expense):        
Allowance for equity funds used during construction 8 6 16 16
Interest expense, net of amounts capitalized (77) (74) (153) (147)
Other income (expense), net 1 (4) (4) (11)
Total other income and (expense) (68) (72) (141) (142)
Earnings (Loss) Before Income Taxes 386 358 689 621
Income taxes (benefit) 151 140 277 242
Consolidated Net Income (Loss) 235 218 412 379
Dividends on preferred and preference stock of subsidiaries 5 5 9 9
Net Income 230 213 403 370
GEORGIA POWER CO        
Operating Revenues:        
Retail electric revenues 1,904 1,907 3,593 3,624
Wholesale revenues, non-affiliates 40 40 79 82
Wholesale revenues, affiliates 9 10 17 15
Other revenues 95 94 191 202
Total operating revenues 2,048 2,051 3,880 3,923
Operating Expenses:        
Fuel 445 439 815 815
Purchased power, non-affiliates 103 92 191 175
Purchased power, affiliates 138 111 310 250
Other operations and maintenance 399 439 781 896
Depreciation and amortization 223 214 444 425
Taxes other than income taxes 101 100 199 197
Total operating expenses 1,409 1,395 2,740 2,758
Operating Income (Loss) 639 656 1,140 1,165
Other Income and (Expense):        
Allowance for equity funds used during construction     25 24
Interest expense, net of amounts capitalized (104) (99) (205) (193)
Other income (expense), net 16 8 36 26
Total other income and (expense) (88) (91) (169) (167)
Earnings (Loss) Before Income Taxes 551 565 971 998
Income taxes (benefit) 199 211 355 371
Consolidated Net Income (Loss) 352 354 616 627
Dividends on preferred and preference stock of subsidiaries 5 5 9 9
Net Income 347 349 607 618
GULF POWER CO        
Operating Revenues:        
Retail electric revenues 318 319 596 602
Wholesale revenues, non-affiliates 12 15 30 31
Wholesale revenues, affiliates 10 15 47 36
Other revenues 17 16 34 31
Total operating revenues 357 365 707 700
Operating Expenses:        
Fuel 88 107 196 201
Purchased power, non-affiliates 35 32 67 62
Purchased power, affiliates 9 4 11 5
Other operations and maintenance 87 77 171 155
Depreciation and amortization 35 42 53 80
Taxes other than income taxes 28 29 55 58
Loss on Plant Scherer Unit 3 0 0 33 0
Total operating expenses 282 291 586 561
Operating Income (Loss) 75 74 121 139
Other Income and (Expense):        
Interest expense, net of amounts capitalized (13) (12) (24) (25)
Other income (expense), net (1) (1) (2) (2)
Total other income and (expense) (14) (13) (26) (27)
Earnings (Loss) Before Income Taxes 61 61 95 112
Income taxes (benefit) 24 24 38 44
Consolidated Net Income (Loss) 37 37 57 68
Dividends on preferred and preference stock of subsidiaries 2 3 4 5
Net Income 35 34 53 63
MISSISSIPPI POWER CO        
Operating Revenues:        
Retail electric revenues 222 206 422 389
Wholesale revenues, non-affiliates 62 60 124 120
Wholesale revenues, affiliates 15 7 20 16
Other revenues 4 4 9 8
Total operating revenues 303 277 575 533
Operating Expenses:        
Fuel 102 81 180 157
Purchased power, non-affiliates 2 1 3 1
Purchased power, affiliates 4 4 11 9
Other operations and maintenance 70 68 144 136
Depreciation and amortization 41 45 81 84
Taxes other than income taxes 26 25 52 50
Estimated loss on Kemper IGCC 3,012 81 3,120 134
Total operating expenses 3,257 305 3,591 571
Operating Income (Loss) (2,954) (28) (3,016) (38)
Other Income and (Expense):        
Allowance for equity funds used during construction 36 30 71 59
Interest expense, net of amounts capitalized (17) (15) (37) (31)
Other income (expense), net 1 (1) 1 (3)
Total other income and (expense) 20 14 35 25
Earnings (Loss) Before Income Taxes (2,934) (14) (2,981) (13)
Income taxes (benefit) (881) (17) (908) (27)
Consolidated Net Income (Loss) (2,053) 3 (2,073) 14
Dividends on preferred and preference stock of subsidiaries 1 1 1 1
Net Income (2,054) 2 (2,074) 13
SOUTHERN Co GAS        
Operating Revenues:        
Natural gas revenues 684   2,214  
Other revenues 32   62  
Total operating revenues 716   2,276  
Operating Expenses:        
Cost of natural gas 232   951  
Cost of other sales 6   13  
Other operations and maintenance 213   467  
Depreciation and amortization 125   244  
Merger-related expenses 0   0  
Taxes other than income taxes 44   114  
Total operating expenses 620   1,789  
Operating Income (Loss) 96   487  
Other Income and (Expense):        
Earnings (loss) from equity method investments 29   68  
Interest expense, net of amounts capitalized (48)   (94)  
Other income (expense), net 3   7  
Total other income and (expense) (16)   (19)  
Earnings (Loss) Before Income Taxes 80   468  
Income taxes (benefit) 31   180  
Consolidated Net Income (Loss) 49   288  
Net income attributable to noncontrolling interests 0   0  
Net Income $ 49   $ 288  
Predecessor | SOUTHERN Co GAS        
Operating Revenues:        
Natural gas revenues   539   1,841
Other revenues   32   64
Total operating revenues   571   1,905
Operating Expenses:        
Cost of natural gas   184   755
Cost of other sales   7   14
Other operations and maintenance   213   454
Depreciation and amortization   104   206
Merger-related expenses   53   56
Taxes other than income taxes   37   99
Total operating expenses   598   1,584
Operating Income (Loss)   (27)   321
Other Income and (Expense):        
Earnings (loss) from equity method investments   1   2
Interest expense, net of amounts capitalized   (48)   (96)
Other income (expense), net   2   5
Total other income and (expense)   (45)   (89)
Earnings (Loss) Before Income Taxes   (72)   232
Income taxes (benefit)   (24)   87
Consolidated Net Income (Loss)   (48)   145
Net income attributable to noncontrolling interests   3   14
Net Income   $ (51)   $ 131