Stockholders' Equity

3 Months Ended

Mar. 31, 2013

Equity [Abstract]

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY

Earnings per Share

For Southern Company, the only difference in computing basic and diluted earnings per share is attributable to awards outstanding under the stock option and performance share plans. See Note 8 to the financial statements of Southern Company in Item 8 of the Form 10-K for information on the stock option and performance share plans. The effects of both stock options and performance share award units were determined using the treasury stock method. Shares used to compute diluted earnings per share were as follows:

	Three Months Ended March 31, 2013	Three Months Ended March 31, 2012
	(in millions)
As reported shares	870	868
Effect of options and performance share award units	5	9
Diluted shares	875	877

Stock options and performance share award units that were not included in the diluted earnings per share calculation because they were anti-dilutive were immaterial for the three months ended March 31, 2013 and 2012.

Changes in Stockholders' Equity

The following table presents year-to-date changes in stockholders' equity of Southern Company:

	Number of Common Shares			Common Stockholders' Equity			Preferred and Preference Stock of Subsidiaries		Total Stockholders' Equity
	Issued	Treasury
	(in thousands)						(in millions)
Balance at December 31, 2012	877,803	(10,035	)	$	18,297		$	707	$	19,004
Net income after dividends on preferred and preference stock	—	—		81			—		81
Other comprehensive income (loss)	—	—		4			—		4
Stock issued	2,638	—		99			—		99
Stock repurchased, at cost	—	—		(18		)	—		(18		)
Cash dividends on common stock	—	—		(426		)	—		(426		)
Other	—	(15	)	—			—		—
Balance at March 31, 2013	880,441	(10,050	)	$	18,037		$	707	$	18,744
Balance at December 31, 2011	865,664	(539	)	$	17,578		$	707	$	18,285
Net income after dividends on preferred and preference stock	—	—		368			—		368
Other comprehensive income (loss)	—	—		6			—		6
Stock issued	3,571	—		157			—		157
Cash dividends on common stock	—	—		(410		)	—		(410		)
Other	—	(6	)	—			—		—
Balance at March 31, 2012	869,235	(545	)	$	17,699		$	707	$	18,406

In July 2012, Southern Company announced a program to repurchase shares to partially offset the incremental shares issued under its employee and director stock plans. As of December 31, 2012, Southern Company had repurchased a total of approximately 9 million shares at a total cost of $430 million. There were no repurchases under this program in the first quarter 2013. Pursuant to approval by the Southern Company Board of Directors, Southern Company may repurchase shares through open market purchases or privately negotiated transactions, in accordance with applicable securities laws.