Revenue from Contracts with Customers and Lease Income (Tables)

3 Months Ended

Mar. 31, 2022

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue

The following table disaggregates revenue from contracts with customers for the three months ended March 31, 2022 and 2021:

	Southern Company		Alabama Power		Georgia Power		Mississippi Power		Southern Power		Southern Company Gas
	(in millions)
Three Months Ended March 31, 2022
Operating revenues
Retail electric revenues
Residential	$	1,525	$	634	$	821	$	70	$	—	$	—
Commercial	1,178		375		738		65		—		—
Industrial	727		323		334		70		—		—
Other	26		4		20		2		—		—
Total retail electric revenues	3,456		1,336		1,913		207		—		—
Natural gas distribution revenues
Residential	1,016		—		—		—		—		1,016
Commercial	270		—		—		—		—		270
Transportation	337		—		—		—		—		337
Industrial	32		—		—		—		—		32
Other	129		—		—		—		—		129
Total natural gas distribution revenues	1,784		—		—		—		—		1,784
Wholesale electric revenues
PPA energy revenues	342		59		32		3		251		—
PPA capacity revenues	134		39		12		3		81		—
Non-PPA revenues	58		64		9		102		73		—
Total wholesale electric revenues	534		162		53		108		405		—
Other natural gas revenues
Gas marketing services	243		—		—		—		—		243
Other natural gas revenues	16		—		—		—		—		16
Total natural gas revenues	259		—		—		—		—		259
Other revenues	225		48		95		9		8		—
Total revenue from contracts with customers	6,258		1,546		2,061		324		413		2,043
Other revenue sources(a)	390		103		147		11		126		15
Total operating revenues	$	6,648	$	1,649	$	2,208	$	335	$	539	$	2,058

	Southern Company		Alabama Power		Georgia Power		Mississippi Power		Southern Power		Southern Company Gas
	(in millions)
Three Months Ended March 31, 2021
Operating revenues
Retail electric revenues
Residential	$	1,468	$	628	$	776	$	64	$	—	$	—
Commercial	1,117		372		686		59		—		—
Industrial	668		320		284		64		—		—
Other	24		5		17		2		—		—
Total retail electric revenues	3,277		1,325		1,763		189		—		—
Natural gas distribution revenues
Residential	614		—		—		—		—		614
Commercial	170		—		—		—		—		170
Transportation	288		—		—		—		—		288
Industrial	16		—		—		—		—		16
Other	97		—		—		—		—		97
Total natural gas distribution revenues	1,185		—		—		—		—		1,185
Wholesale electric revenues
PPA energy revenues	212		43		13		4		156		—
PPA capacity revenues	119		29		13		3		75		—
Non-PPA revenues	67		32		9		88		61		—
Total wholesale electric revenues	398		104		35		95		292		—
Other natural gas revenues
Wholesale gas services	1,590		—		—		—		—		1,590
Gas marketing services	194		—		—		—		—		194
Other natural gas revenues	7		—		—		—		—		7
Total natural gas revenues	1,791		—		—		—		—		1,791
Other revenues	249		46		113		8		4		—
Total revenue from contracts with customers	6,900		1,475		1,911		292		296		2,976
Other revenue sources(a)	1,306		84		59		15		144		1,014
Other adjustments(b)	(2,296)		—		—		—		—		(2,296)
Total operating revenues	$	5,910	$	1,559	$	1,970	$	307	$	440	$	1,694

(a)Other revenue sources relate to revenues from customers accounted for as derivatives and leases, alternative revenue programs at Southern Company Gas, and cost recovery mechanisms and revenues that meet other scope exceptions for revenues from contracts with customers at the traditional electric operating companies.

(b)Other adjustments relate to the cost of Southern Company Gas' energy and risk management activities. Wholesale gas services revenues are presented net of the related costs of those activities on the statement of income. See Note 15 to the financial statements under "Southern Company Gas" in Item 8 of the Form 10-K and Note (L) under "Southern Company Gas" for information on the sale of Sequent and components of wholesale gas services' operating revenues, respectively.

Schedule of Contract Balances

The following table reflects the closing balances of receivables, contract assets, and contract liabilities related to revenues from contracts with customers at March 31, 2022 and December 31, 2021:

	Southern Company		Alabama Power		Georgia Power		Mississippi Power		Southern Power		Southern Company Gas
	(in millions)
Accounts Receivable
At March 31, 2022	$	2,571	$	616	$	695	$	85	$	128	$	865
At December 31, 2021	2,504		589		736		73		149		753
Contract Assets
At March 31, 2022	$	81	$	2	$	31	$	—	$	—	$	—
At December 31, 2021	117		2		63		—		1		—
Contract Liabilities
At March 31, 2022	$	72	$	3	$	13	$	2	$	1	$	—
At December 31, 2021	57		4		14		—		1		—

Schedule of Remaining Performance Obligations

Revenues from contracts with customers related to these performance obligations remaining at March 31, 2022 are expected to be recognized as follows:

	2022 (remaining)		2023		2024		2025		2026		Thereafter
	(in millions)
Southern Company	$	529	$	459	$	351	$	321	$	307	$	2,345
Alabama Power	24		24		7		5		—		—
Georgia Power	55		55		26		22		11		21
Southern Power	252		294		310		294		299		2,339

Schedule of Lease Income

Lease income for the three months ended March 31, 2022 and 2021 is as follows:

	Southern Company		Alabama Power		Georgia Power		Mississippi Power		Southern Power		Southern Company Gas
	(in millions)
For the Three Months Ended March 31, 2022
Lease income - interest income on sales-type leases	$	6	$	—	$	—	$	4	$	2	$	—
Lease income - operating leases	51		20		8		—		21		9
Variable lease income	84		—		—		—		90		—
Total lease income	$	141	$	20	$	8	$	4	$	113	$	9
For the Three Months Ended March 31, 2021
Lease income - interest income on sales-type leases	$	3	$	—	$	—	$	3	$	—	$	—
Lease income - operating leases	55		21		10		—		21		9
Variable lease income	84		—		—		—		90		—
Total lease income	$	142	$	21	$	10	$	3	$	111	$	9