Acquisitions and Dispositions (Tables)

6 Months Ended

Jun. 30, 2018

Business Combinations [Abstract]

Schedule of Business Acquisitions

Project Facility	Resource	Seller; Acquisition Date	Approximate Nameplate Capacity (MW)	Location	Southern Power Percentage Ownership		Actual COD	PPA Contract Period
Gaskell West 1	Solar	Recurrent Energy Development Holdings, LLC January 26, 2018	20	Kern County, CA	100% of Class B	(*)	March 2018	20 years

(*) Southern Power owns 100% of the class B membership interests under a tax equity partnership agreement.

Schedule of Construction Projects

Project Facility	Resource	Approximate Nameplate Capacity (MW)	Location	Actual/Expected COD	PPA Contract Period
Projects Under Construction as of June 30, 2018
Cactus Flats(a)	Wind	148	Concho County, TX	July 2018	12-15 years
Mankato	Natural Gas	345	Mankato, MN	First half 2019	20 years
Wild Horse Mountain(b)	Wind	100	Pushmataha County, OK	Fourth quarter 2019	20 years

(a) In July 2017, Southern Power purchased 100% of the Cactus Flats facility and commenced construction. Subsequent to June 30, 2018, the facility was placed in service and Southern Power expects to close on a tax equity partnership agreement, which would result in Southern Power owning 100% of the class B membership interests.

(b) In May 2018, Southern Power purchased 100% of the Wild Horse Mountain facility and commenced construction. Southern Power may enter into a tax equity partnership agreement, in which case it would then own 100% of the class B membership interests.

Disposal Groups, Including Discontinued Operations

The following table provides each company's major classes of assets and liabilities classified as held for sale at June 30, 2018:

	Southern Company		Southern Power		Southern Company Gas
	(in millions)
Assets Held for Sale:
Current assets	$	487	$	17	$	81
Total property, plant, and equipment	5,462		168		1,408
Goodwill and other intangible assets	668		—		668
Other non-current assets	705		15		141
Total Assets Held for Sale	$	7,322	$	200	$	2,298
Liabilities Held for Sale:
Current liabilities	$	354	$	2	$	61
Long-term debt	1,285		—		—
Accumulated deferred income taxes	566		—		26
Other non-current liabilities	1,334		—		325
Total Liabilities Held for Sale	$	3,539	$	2	$	412

Gulf Power and the Florida Plants represent individually significant components of Southern Company and Southern Power, respectively; therefore, pre-tax profit for these components for the three and six months ended June 30, 2018 and 2017 is presented below:

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2018		2017		2018		2017
	(in millions)				(in millions)
Earnings before income taxes:
Gulf Power	$	31	$	61	$	87	$	95
Southern Power's Florida Plants(*)	$	14	$	11	$	24	$	20

(*) Excludes any allocation of interest from Southern Power's corporate debt.