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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Jun. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Operating Revenues:          
Retail electric revenues $ 4,615 $ 4,808   $ 11,786 $ 11,932
Wholesale electric revenues 718 613   1,867 1,455
Other electric revenues 168 181   510 529
Natural gas revenues 532 518   2,746 518
Other revenues 168 144   494 281
Total operating revenues 6,201 6,264   17,403 14,715
Operating Expenses:          
Fuel 1,285 1,400   3,372 3,334
Purchased power 256 227   646 581
Cost of natural gas 134 133   1,085 133
Cost of other sales 90 84   293 161
Other operations and maintenance 1,287 1,411   3,918 3,616
Depreciation and amortization 767 695   2,236 1,805
Taxes other than income taxes 303 309   941 821
Estimated loss on Kemper IGCC 34 88   3,155 222
Total operating expenses 4,156 4,347   15,646 10,673
Operating Income 2,045 1,917   1,757 4,042
Other Income and (Expense):          
Allowance for equity funds used during construction 18 52   133 150
Earnings from equity method investments 32 29   100 28
Interest expense, net of amounts capitalized (407) (374)   (1,248) (913)
Other income (expense), net 11 (8)   2 (66)
Total other income and (expense) (346) (301)   (1,013) (801)
Earnings Before Income Taxes 1,699 1,616   744 3,241
Income taxes 590 439   317 917
Consolidated Net Income 1,109 1,177   427 2,324
Less:          
Dividends on preferred and preference stock of subsidiaries 10 11   32 34
Net income attributable to noncontrolling interests 30 27   48 39
Net Income $ 1,069 $ 1,139   $ 347 $ 2,251
Earnings per share —          
Basic (in dollars per share) $ 1.07 $ 1.18   $ 0.35 $ 2.40
Diluted (in dollars per share) $ 1.06 $ 1.17   $ 0.35 $ 2.38
Average number of shares of common stock outstanding (in millions)          
Basic (in shares) 1,003 968   998 940
Diluted (in shares) 1,010 975   1,005 945
Cash dividends paid per share of common stock (in dollars per share) $ 0.58 $ 0.56   $ 1.7200 $ 1.6625
ALABAMA POWER CO          
Operating Revenues:          
Retail electric revenues $ 1,595 $ 1,629   $ 4,155 $ 4,139
Wholesale revenues, non-affiliates 77 82   210 211
Wholesale revenues, affiliates 18 18   83 49
Other revenues 50 56   158 162
Total operating revenues 1,740 1,785   4,606 4,561
Operating Expenses:          
Fuel 343 410   944 973
Purchased power, non-affiliates 57 63   132 139
Purchased power, affiliates 55 41   117 129
Other operations and maintenance 391 348   1,134 1,097
Depreciation and amortization 185 177   549 524
Taxes other than income taxes 93 96   284 286
Total operating expenses 1,124 1,135   3,160 3,148
Operating Income 616 650   1,446 1,413
Other Income and (Expense):          
Allowance for equity funds used during construction 11 7   27 23
Interest expense, net of amounts capitalized (76) (77)   (229) (224)
Other income (expense), net (5) (5)   (8) (16)
Total other income and (expense) (70) (75)   (210) (217)
Earnings Before Income Taxes 546 575   1,236 1,196
Income taxes 216 219   493 462
Consolidated Net Income 330 356   743 734
Less:          
Dividends on preferred and preference stock of subsidiaries 5 4   14 13
Net Income 325 352   729 721
GEORGIA POWER CO          
Operating Revenues:          
Retail electric revenues 2,402 2,540   5,995 6,164
Wholesale revenues, non-affiliates 45 49   124 131
Wholesale revenues, affiliates 6 9   23 24
Other revenues 93 100   284 302
Total operating revenues 2,546 2,698   6,426 6,621
Operating Expenses:          
Fuel 482 575   1,297 1,390
Purchased power, non-affiliates 119 102   310 277
Purchased power, affiliates 161 142   470 392
Other operations and maintenance 413 496   1,194 1,393
Depreciation and amortization 225 215   669 639
Taxes other than income taxes 112 114   311 311
Total operating expenses 1,512 1,644   4,251 4,402
Operating Income 1,034 1,054   2,175 2,219
Other Income and (Expense):          
Allowance for equity funds used during construction       29 36
Interest expense, net of amounts capitalized (105) (98)   (310) (290)
Other income (expense), net 5 11   41 35
Total other income and (expense) (100) (87)   (269) (255)
Earnings Before Income Taxes 934 967   1,906 1,964
Income taxes 350 363   705 734
Consolidated Net Income 584 604   1,201 1,230
Less:          
Dividends on preferred and preference stock of subsidiaries 4 4   13 13
Net Income 580 600   1,188 1,217
GULF POWER CO          
Operating Revenues:          
Retail electric revenues 375 377   972 978
Wholesale revenues, non-affiliates 14 17   44 48
Wholesale revenues, affiliates 28 23   75 59
Other revenues 20 19   53 51
Total operating revenues 437 436   1,144 1,136
Operating Expenses:          
Fuel 127 141   323 342
Purchased power, non-affiliates 37 33   104 95
Purchased power, affiliates 2 3   13 9
Other operations and maintenance 81 86   252 239
Depreciation and amortization 42 49   95 129
Taxes other than income taxes 33 34   88 93
Loss on Plant Scherer Unit 3 0 0   33 0
Total operating expenses 322 346   908 907
Operating Income 115 90   236 229
Other Income and (Expense):          
Interest expense, net of amounts capitalized (13) (11)   (37) (36)
Other income (expense), net 1 (2)   0 (4)
Total other income and (expense) (12) (13)   (37) (40)
Earnings Before Income Taxes 103 77   199 189
Income taxes 40 30   78 74
Consolidated Net Income 63 47   121 115
Less:          
Dividends on preferred and preference stock of subsidiaries 0 2   4 7
Net Income 63 45   117 108
MISSISSIPPI POWER CO          
Operating Revenues:          
Retail electric revenues 243 263   665 652
Wholesale revenues, non-affiliates 72 78   196 198
Wholesale revenues, affiliates 21 7   40 23
Other revenues 5 4   14 12
Total operating revenues 341 352   915 885
Operating Expenses:          
Fuel 120 112   301 268
Purchased power, non-affiliates 4 3   7 4
Purchased power, affiliates 2 5   13 14
Other operations and maintenance 66 74   206 211
Depreciation and amortization 39 30   120 114
Taxes other than income taxes 25 31   77 81
Estimated loss on Kemper IGCC 34 88   3,155 222
Total operating expenses 290 343   3,879 914
Operating Income 51 9   (2,964) (29)
Other Income and (Expense):          
Allowance for equity funds used during construction 1 31   72 90
Interest expense, net of amounts capitalized 13 (15)   (23) (46)
Other income (expense), net (1) (1)   (3) (4)
Total other income and (expense) 13 15   46 40
Earnings Before Income Taxes 64 24   (2,918) 11
Income taxes 24 (2)   (885) (29)
Consolidated Net Income 40 26   (2,033) 40
Less:          
Dividends on preferred and preference stock of subsidiaries 0 0   1 1
Net Income 40 26   (2,034) 39
SOUTHERN POWER CO          
Operating Revenues:          
Wholesale revenues, non-affiliates 510 387   1,293 866
Wholesale revenues, affiliates 105 110   295 313
Other revenues 3 3   9 10
Total operating revenues 618 500   1,597 1,189
Operating Expenses:          
Fuel 189 154   460 341
Purchased power, non-affiliates 36 25   90 60
Purchased power, affiliates 7 8   23 16
Other operations and maintenance 83 81   272 246
Depreciation and amortization 131 93   379 247
Taxes other than income taxes 13 5   37 17
Total operating expenses 459 366   1,261 927
Operating Income 159 134   336 262
Other Income and (Expense):          
Interest expense, net of amounts capitalized (47) (35)   (144) (78)
Other income (expense), net 3 2   3 3
Total other income and (expense) (44) (33)   (141) (75)
Earnings Before Income Taxes 115 101   195 187
Income taxes (39) (102)   (129) (167)
Consolidated Net Income 154 203   324 354
Less:          
Net income attributable to noncontrolling interests 30 27   48 39
Net Income 124 176   276 $ 315
SOUTHERN Co GAS          
Operating Revenues:          
Natural gas revenues 532 518   2,746  
Other revenues 33 25   95  
Total operating revenues 565 543   2,841  
Operating Expenses:          
Cost of natural gas 134 133   1,085  
Cost of other sales 7 2   20  
Other operations and maintenance 205 216   671  
Depreciation and amortization 125 116   370  
Merger-related expenses 0 35   0  
Taxes other than income taxes 26 29   140  
Total operating expenses 497 531   2,286  
Operating Income 68 12   555  
Other Income and (Expense):          
Earnings from equity method investments 32 29   100  
Interest expense, net of amounts capitalized (51) (39)   (145)  
Other income (expense), net 18 9   26  
Total other income and (expense) (1) (1)   (19)  
Earnings Before Income Taxes 67 11   536  
Income taxes 52 7   233  
Consolidated Net Income 15 4   303  
Less:          
Net income attributable to noncontrolling interests 0 0   0  
Net Income $ 15 $ 4   $ 303  
Predecessor | SOUTHERN Co GAS          
Operating Revenues:          
Natural gas revenues     $ 1,841    
Other revenues     64    
Total operating revenues     1,905    
Operating Expenses:          
Cost of natural gas     755    
Cost of other sales     14    
Other operations and maintenance     454    
Depreciation and amortization     206    
Merger-related expenses     56    
Taxes other than income taxes     99    
Total operating expenses     1,584    
Operating Income     321    
Other Income and (Expense):          
Earnings from equity method investments     2    
Interest expense, net of amounts capitalized     (96)    
Other income (expense), net     5    
Total other income and (expense)     (89)    
Earnings Before Income Taxes     232    
Income taxes     87    
Consolidated Net Income     145    
Less:          
Net income attributable to noncontrolling interests     14    
Net Income     $ 131