Segment and Related Information (Tables)

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Schedule of Financial Data for Business Segments

Financial data for business segments and products and services for the three and six months ended June 30, 2024 and 2023 was as follows:

	Electric Utilities
	Traditional Electric Operating Companies		Southern Power		Eliminations		Total		Southern Company Gas		All Other		Eliminations		Consolidated
	(in millions)
Three Months Ended June 30, 2024
Operating revenues	$	5,025	$	524	$	(93)	$	5,456	$	831	$	222	$	(46)	$	6,463
Segment net income (loss)(a)(b)	1,192		86		—		1,278		108		(181)		(2)		1,203
Six Months Ended June 30, 2024
Operating revenues	$	9,463	$	997	$	(189)	$	10,271	$	2,538	$	383	$	(83)	$	13,109
Segment net income (loss)(a)(b)	2,012		182		—		2,194		517		(368)		(11)		2,332
At June 30, 2024
Goodwill	$	—	$	2	$	—	$	2	$	5,015	$	144	$	—	$	5,161
Total assets	102,528		12,764		(586)		114,706		25,055		2,828		(652)		141,937
Three Months Ended June 30, 2023
Operating revenues	$	4,359	$	525	$	(120)	$	4,764	$	852	$	180	$	(48)	$	5,748
Segment net income (loss)(a)(c)	823		85		—		908		85		(157)		2		838
Six Months Ended June 30, 2023
Operating revenues	$	8,472	$	1,033	$	(258)	$	9,247	$	2,728	$	346	$	(93)	$	12,228
Segment net income (loss)(a)(c)(d)	1,433		187		—		1,620		393		(311)		(2)		1,700
At December 31, 2023
Goodwill	$	—	$	2	$	—	$	2	$	5,015	$	144	$	—	$	5,161
Total assets	100,429		12,761		(545)		112,645		25,083		2,446		(843)		139,331

(a)Attributable to Southern Company.

(b)For the traditional electric operating companies, includes a pre-tax credit to income at Georgia Power related to the estimated probable loss associated with the completion of Plant Vogtle Units 3 and 4 of $21 million ($16 million after tax), as well as a pre-tax gain at Georgia Power of approximately $114 million ($84 million after tax) related to the sale of transmission line assets under the integrated transmission system agreement. See Note (B) under "Georgia Power" for additional information.

(c)For Southern Company Gas, includes a pre-tax charge of approximately $38 million ($28 million after tax) associated with the disallowance of certain capital expenditures at Nicor Gas. See Note 2 to the financial statements under "Southern Company Gas" in Item 8 of the Form 10-K for additional information.

(d)For Southern Power, includes a $16 million pre-tax gain ($12 million after tax) on the sale of spare parts.

Business segment financial data for the three and six months ended June 30, 2024 and 2023 was as follows:

	Gas Distribution Operations		Gas Pipeline Investments		Gas Marketing Services		Total		All Other		Eliminations		Consolidated
	(in millions)
Three Months Ended June 30, 2024
Operating revenues	$	749	$	8	$	70	$	827	$	7	$	(3)	$	831
Segment net income	80		22		9		111		(3)		—		108
Six Months Ended June 30, 2024
Operating revenues	$	2,212	$	16	$	305	$	2,533	$	13	$	(8)	$	2,538
Segment net income	382		52		74		508		9		—		517
Total assets at June 30, 2024	23,025		1,542		1,632		26,199		9,795		(10,939)		25,055
Three Months Ended June 30, 2023
Operating revenues	$	764	$	8	$	75	$	847	$	9	$	(4)	$	852
Segment net income (loss)(*)	60		19		7		86		(1)		—		85
Six Months Ended June 30, 2023
Operating revenues	$	2,383	$	16	$	320	$	2,719	$	22	$	(13)	$	2,728
Segment net income(*)	281		50		56		387		6		—		393
Total assets at December 31, 2023	22,906		1,534		1,615		26,055		9,675		(10,647)		25,083

(*)For gas distribution operations, includes a pre-tax charge of approximately $38 million ($28 million after tax) associated with the disallowance of certain capital expenditures at Nicor Gas. See Note 2 to the financial statements under "Southern Company Gas" in Item 8 of the Form 10-K for additional information.

Schedule of Financial Data for Products and Services

	Electric Utilities' Revenues
	Retail		Wholesale		Other		Total
	(in millions)
Three Months Ended June 30, 2024	$	4,486	$	627	$	343	$	5,456
Three Months Ended June 30, 2023	3,859		605		300		4,764
Six Months Ended June 30, 2024	$	8,427	$	1,198	$	646	$	10,271
Six Months Ended June 30, 2023	7,458		1,203		586		9,247

	Southern Company Gas' Revenues
	Gas Distribution Operations		Gas Marketing Services		Other		Total
	(in millions)
Three Months Ended June 30, 2024	$	747	$	70	$	14	$	831
Three Months Ended June 30, 2023	761		75		16		852
Six Months Ended June 30, 2024	$	2,206	$	305	$	27	$	2,538
Six Months Ended June 30, 2023	2,372		320		36		2,728