XML 83 R5.htm IDEA: XBRL DOCUMENT v2.4.0.6
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Operating Activities:    
Consolidated net income $ 97,000,000 $ 384,000,000
Adjustments to reconcile consolidated net income to net cash provided from operating activities --    
Depreciation and amortization, total 568,000,000 529,000,000
Deferred income taxes (92,000,000) 104,000,000
Allowance for equity funds used during construction (41,000,000) (31,000,000)
Leveraged lease income (loss) 21,000,000 (6,000,000)
Pension, postretirement, and other employee benefits 22,000,000 16,000,000
Stock based compensation expense 26,000,000 25,000,000
Estimated loss on Kemper IGCC 540,000,000 0
Other, net (62,000,000) 8,000,000
Changes in certain current assets and liabilities --    
-Receivables 29,000,000 372,000,000
-Fossil fuel stock 36,000,000 (218,000,000)
-Materials and supplies 52,000,000 4,000,000
-Other current assets (72,000,000) (64,000,000)
-Accounts payable (47,000,000) (136,000,000)
-Accrued taxes (98,000,000) (167,000,000)
-Accrued compensation (282,000,000) (305,000,000)
-Other current liabilities 40,000,000 53,000,000
Net cash provided from operating activities 737,000,000 568,000,000
Investing Activities:    
Property additions (1,197,000,000) (1,231,000,000)
Investment of restricted cash (78,000,000) 1,000,000
Nuclear decommissioning trust fund purchases (262,000,000) (336,000,000)
Nuclear decommissioning trust fund sales 261,000,000 334,000,000
Cost of removal, net of salvage (30,000,000) (32,000,000)
Change in construction payables 6,000,000 (153,000,000)
Other investing activities 21,000,000 (10,000,000)
Net cash used for investing activities (1,279,000,000) (1,427,000,000)
Financing Activities:    
Increase (decrease) in notes payable, net 468,000,000 174,000,000
Proceeds --    
Long-term debt issuances 1,035,000,000 1,400,000,000
Interest-bearing refundable deposit related to asset sale 0 150,000,000
Common stock issuances 42,000,000 116,000,000
Redemptions --    
Long-term debt (656,000,000) (827,000,000)
Common stock repurchased (18,000,000) 0
Payment of common stock dividends (426,000,000) (410,000,000)
Payment of dividends on preferred and preference stock of subsidiaries (16,000,000) (16,000,000)
Other financing activities 0 1,000,000
Net cash provided from (used for) financing activities 429,000,000 588,000,000
Net Change in Cash and Cash Equivalents (113,000,000) (271,000,000)
Cash and Cash Equivalents at Beginning of Period 628,000,000 1,315,000,000
Cash and Cash Equivalents at End of Period 515,000,000 1,044,000,000
Cash paid (received) during the period for --    
Interest (net of capitalized amounts) 187,000,000 178,000,000
Income taxes, net 4,000,000 2,000,000
Noncash transactions - accrued property additions at end of period 501,000,000 420,000,000
Alabama Power [Member]
   
Operating Activities:    
Consolidated net income 151,000,000 136,000,000
Adjustments to reconcile consolidated net income to net cash provided from operating activities --    
Depreciation and amortization, total 206,000,000 189,000,000
Deferred income taxes 25,000,000 31,000,000
Allowance for equity funds used during construction (8,000,000) (5,000,000)
Stock based compensation expense 4,000,000 4,000,000
Other, net 5,000,000 (11,000,000)
Changes in certain current assets and liabilities --    
-Receivables (13,000,000) 89,000,000
-Fossil fuel stock 28,000,000 (81,000,000)
-Materials and supplies 16,000,000 2,000,000
-Other current assets (71,000,000) (51,000,000)
-Accounts payable (124,000,000) (149,000,000)
-Accrued taxes 90,000,000 43,000,000
-Accrued compensation (61,000,000) (63,000,000)
-Retail fuel cost over recovery - short-term 21,000,000 1,000,000
-Other current liabilities 1,000,000 5,000,000
Net cash provided from operating activities 270,000,000 140,000,000
Investing Activities:    
Property additions (274,000,000) (244,000,000)
Nuclear decommissioning trust fund purchases (57,000,000) (49,000,000)
Nuclear decommissioning trust fund sales 57,000,000 49,000,000
Cost of removal, net of salvage (9,000,000) (6,000,000)
Change in construction payables (1,000,000) 14,000,000
Other investing activities 37,000,000 1,000,000
Net cash used for investing activities (247,000,000) (235,000,000)
Financing Activities:    
Increase (decrease) in notes payable, net 45,000,000 0
Proceeds --    
Capital contributions from parent company 5,000,000 5,000,000
Senior notes issuances 0 250,000,000
Redemptions --    
Payment of preferred and preference stock dividends (10,000,000) (10,000,000)
Payment of common stock dividends (132,000,000) (135,000,000)
Other financing activities (3,000,000) (4,000,000)
Net cash provided from (used for) financing activities (95,000,000) 106,000,000
Net Change in Cash and Cash Equivalents (72,000,000) 11,000,000
Cash and Cash Equivalents at Beginning of Period 137,000,000 344,000,000
Cash and Cash Equivalents at End of Period 65,000,000 355,000,000
Cash paid (received) during the period for --    
Interest (net of capitalized amounts) 64,000,000 66,000,000
Income taxes, net (3,000,000) 22,000,000
Noncash transactions - accrued property additions at end of period 30,000,000 32,000,000
Georgia Power [Member]
   
Operating Activities:    
Consolidated net income 201,000,000 171,000,000
Adjustments to reconcile consolidated net income to net cash provided from operating activities --    
Depreciation and amortization, total 239,000,000 229,000,000
Deferred income taxes 59,000,000 38,000,000
Allowance for equity funds used during construction (6,000,000) (13,000,000)
Retail fuel cost over recovery - long-term (58,000,000) 0
Other, net (27,000,000) 10,000,000
Deferred expenses 31,000,000 23,000,000
Changes in certain current assets and liabilities --    
-Receivables 40,000,000 258,000,000
-Fossil fuel stock (4,000,000) (122,000,000)
-Prepaid income taxes 11,000,000 10,000,000
-Other current assets 42,000,000 (4,000,000)
-Accounts payable 78,000,000 (62,000,000)
-Accrued taxes (127,000,000) (206,000,000)
-Accrued compensation (66,000,000) (80,000,000)
-Retail fuel cost over recovery - short-term 10,000,000 22,000,000
-Other current liabilities 5,000,000 38,000,000
Net cash provided from operating activities 428,000,000 312,000,000
Investing Activities:    
Property additions (419,000,000) (476,000,000)
Investment of restricted cash (18,000,000) 0
Nuclear decommissioning trust fund purchases (205,000,000) (287,000,000)
Nuclear decommissioning trust fund sales 204,000,000 285,000,000
Cost of removal, net of salvage (17,000,000) (15,000,000)
Change in construction payables, net of joint owner portion (25,000,000) (203,000,000)
Other investing activities 1,000,000 15,000,000
Net cash used for investing activities (479,000,000) (681,000,000)
Financing Activities:    
Increase (decrease) in notes payable, net 300,000,000 99,000,000
Proceeds --    
Capital contributions from parent company 11,000,000 9,000,000
Pollution control revenue bonds issuances 18,000,000 0
Senior notes issuances 650,000,000 750,000,000
Redemptions --    
Senior notes (650,000,000) 0
Other long-term debt 0 (250,000,000)
Payment of preferred and preference stock dividends (4,000,000) (4,000,000)
Payment of common stock dividends (227,000,000) (227,000,000)
Other financing activities (13,000,000) (8,000,000)
Net cash provided from (used for) financing activities 85,000,000 369,000,000
Net Change in Cash and Cash Equivalents 34,000,000 0
Cash and Cash Equivalents at Beginning of Period 45,000,000 13,000,000
Cash and Cash Equivalents at End of Period 79,000,000 13,000,000
Cash paid (received) during the period for --    
Interest (net of capitalized amounts) 72,000,000 58,000,000
Income taxes, net 3,000,000 28,000,000
Noncash transactions - accrued property additions at end of period 212,000,000 178,000,000
Gulf Power [Member]
   
Operating Activities:    
Consolidated net income 23,343,000 22,217,000
Adjustments to reconcile consolidated net income to net cash provided from operating activities --    
Depreciation and amortization, total 38,794,000 34,844,000
Deferred income taxes 16,777,000 32,505,000
Allowance for equity funds used during construction (1,134,000) (1,237,000)
Pension, postretirement, and other employee benefits 2,889,000 1,315,000
Stock based compensation expense 669,000 685,000
Other, net 2,485,000 5,478,000
Changes in certain current assets and liabilities --    
-Receivables (2,305,000) 14,754,000
-Prepayments 934,000 1,559,000
-Fossil fuel stock 1,423,000 1,543,000
-Materials and supplies (513,000) (1,476,000)
-Prepaid income taxes (7,667,000) 17,324,000
-Accounts payable (17,812,000) (21,516,000)
-Accrued taxes 5,380,000 (1,453,000)
-Accrued compensation (9,451,000) (9,190,000)
-Over recovered regulatory clause revenues (10,186,000) 14,516,000
-Other current liabilities 6,073,000 5,637,000
Net cash provided from operating activities 49,699,000 117,505,000
Investing Activities:    
Property additions (66,696,000) (94,879,000)
Cost of removal, net of salvage (3,469,000) (9,342,000)
Change in construction payables 1,787,000 7,773,000
Payments pursuant to long-term service agreements (1,558,000) (2,274,000)
Other investing activities 243,000 (76,000)
Net cash used for investing activities (69,693,000) (98,798,000)
Financing Activities:    
Increase (decrease) in notes payable, net 5,809,000 (27,338,000)
Proceeds --    
Capital contributions from parent company 556,000 732,000
Common stock issuances 40,000,000 40,000,000
Redemptions --    
Senior notes 0 (16,000)
Payment of preferred and preference stock dividends (1,551,000) (1,551,000)
Payment of common stock dividends (28,850,000) (28,950,000)
Other financing activities (206,000) 198,000
Net cash provided from (used for) financing activities 15,758,000 (16,925,000)
Net Change in Cash and Cash Equivalents (4,236,000) 1,782,000
Cash and Cash Equivalents at Beginning of Period 32,167,000 17,328,000
Cash and Cash Equivalents at End of Period 27,931,000 19,110,000
Cash paid (received) during the period for --    
Interest (net of capitalized amounts) 8,306,000 9,352,000
Income taxes, net 3,886,000 (35,742,000)
Noncash transactions - accrued property additions at end of period 22,462,000 28,788,000
Mississippi Power [Member]
   
Operating Activities:    
Consolidated net income (245,888,000) 25,688,000
Adjustments to reconcile consolidated net income to net cash provided from operating activities --    
Depreciation and amortization, total 21,692,000 21,931,000
Deferred income taxes (174,082,000) (1,210,000)
Allowance for equity funds used during construction (26,074,000) (11,827,000)
Pension, postretirement, and other employee benefits 2,926,000 2,268,000
Stock based compensation expense 1,033,000 957,000
Estimated loss on Kemper IGCC 462,000,000 0
Regulatory assets associated with Kemper IGCC (6,843,000) (2,243,000)
Other, net (628,000) 1,117,000
Convertible investment tax credits 0 13,974,000
Hedge settlements 0 (15,983,000)
Changes in certain current assets and liabilities --    
-Receivables (5,226,000) 14,536,000
-Fossil fuel stock 8,415,000 (16,188,000)
-Materials and supplies (4,744,000) (538,000)
-Prepaid income taxes 1,573,000 4,168,000
-Other current assets (2,389,000) (4,357,000)
-Accounts payable (13,783,000) (11,558,000)
-Accrued taxes (45,429,000) (31,434,000)
-Accrued interest 6,570,000 9,514,000
-Accrued compensation (10,247,000) (10,803,000)
-Over recovered regulatory clause revenues 2,996,000 12,627,000
-Other current liabilities 2,971,000 (35,000)
Net cash provided from operating activities (25,157,000) 604,000
Investing Activities:    
Property additions (369,313,000) (370,923,000)
Cost of removal, net of salvage (902,000) (1,149,000)
Change in construction payables 23,150,000 30,080,000
Capital grant proceeds 1,784,000 1,816,000
Other investing activities (7,145,000) (4,207,000)
Net cash used for investing activities (352,426,000) (344,383,000)
Proceeds --    
Capital contributions from parent company 100,552,000 150,735,000
Bonds-Other 15,814,000 0
Interest-bearing refundable deposit related to asset sale 0 150,000,000
Senior notes issuances 0 400,000,000
Other long-term debt issuances 350,000,000 0
Redemptions --    
Capital leases 0 (377,000)
Other long-term debt 0 (75,000,000)
Payment of preferred and preference stock dividends (433,000) (433,000)
Payment of common stock dividends (44,190,000) (26,700,000)
Other financing activities (1,409,000) 715,000
Net cash provided from (used for) financing activities 420,334,000 598,940,000
Net Change in Cash and Cash Equivalents 42,751,000 255,161,000
Cash and Cash Equivalents at Beginning of Period 145,008,000 211,585,000
Cash and Cash Equivalents at End of Period 187,759,000 466,746,000
Cash paid (received) during the period for --    
Interest (net of capitalized amounts) 4,860,000 0
Income taxes, net (25,000) (11,994,000)
Noncash transactions - accrued property additions at end of period 238,013,000 165,982,000
Southern Power [Member]
   
Operating Activities:    
Consolidated net income 29,192,000 29,316,000
Adjustments to reconcile consolidated net income to net cash provided from operating activities --    
Depreciation and amortization, total 42,790,000 34,887,000
Deferred income taxes 13,587,000 9,917,000
Deferred revenues (20,432,000) (16,686,000)
Other, net 2,979,000 1,326,000
Convertible investment tax credits (493,000) (3,900,000)
Mark-to-market adjustments (2,746,000) 6,467,000
Changes in certain current assets and liabilities --    
-Receivables 11,743,000 12,400,000
-Fossil fuel stock 1,840,000 (755,000)
-Materials and supplies (1,546,000) (1,167,000)
-Prepaid income taxes 1,600,000 (5,105,000)
-Other current assets 1,324,000 (2,083,000)
-Accounts payable (6,933,000) (14,590,000)
-Accrued taxes 4,155,000 4,375,000
-Accrued interest (10,841,000) (10,172,000)
-Other current liabilities (314,000) (2,000)
Net cash provided from operating activities 65,905,000 44,228,000
Investing Activities:    
Property additions (58,553,000) (32,450,000)
Change in construction payables 3,704,000 (999,000)
Payments pursuant to long-term service agreements (11,741,000) (11,415,000)
Other investing activities (224,000) (2,848,000)
Net cash used for investing activities (66,814,000) (47,712,000)
Financing Activities:    
Increase (decrease) in notes payable, net 76,985,000 20,165,000
Proceeds --    
Capital contributions from parent company 1,033,000 1,219,000
Other long-term debt issuances 1,717,000 0
Redemptions --    
Other long-term debt (220,000) (150,000)
Payment of common stock dividends (32,280,000) (31,750,000)
Other financing activities 678,000 25,000
Net cash provided from (used for) financing activities 47,913,000 (10,491,000)
Net Change in Cash and Cash Equivalents 47,004,000 (13,975,000)
Cash and Cash Equivalents at Beginning of Period 28,592,000 16,943,000
Cash and Cash Equivalents at End of Period 75,596,000 2,968,000
Cash paid (received) during the period for --    
Interest (net of capitalized amounts) 28,120,000 20,966,000
Income taxes, net (179,000) 10,820,000
Noncash transactions - accrued property additions at end of period $ 8,907,000 $ 31,591,000