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Condensed Consolidated Statements of Income (Unaudited) (USD $)
Share data in Millions, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
Operating Revenues:        
Retail revenues $ 4,319,000,000 $ 4,379,000,000 $ 11,237,000,000 $ 11,068,000,000
Wholesale revenues 520,000,000 497,000,000 1,406,000,000 1,261,000,000
Other electric revenues 166,000,000 157,000,000 477,000,000 459,000,000
Other revenues 12,000,000 16,000,000 40,000,000 46,000,000
Total operating revenues 5,017,000,000 5,049,000,000 13,160,000,000 12,834,000,000
Operating Expenses:        
Fuel 1,580,000,000 1,553,000,000 4,216,000,000 3,907,000,000
Purchased power 145,000,000 164,000,000 367,000,000 455,000,000
Other operations and maintenance 928,000,000 906,000,000 2,849,000,000 2,817,000,000
MC Asset Recovery insurance settlement 0 0 0 (19,000,000)
Depreciation and amortization 480,000,000 449,000,000 1,422,000,000 1,335,000,000
Taxes other than income taxes 243,000,000 237,000,000 710,000,000 690,000,000
Estimated loss on Kemper IGCC 150,000,000 0 1,140,000,000 0
Total operating expenses 3,526,000,000 3,309,000,000 10,704,000,000 9,185,000,000
Operating Income 1,491,000,000 1,740,000,000 2,456,000,000 3,649,000,000
Other Income and (Expense):        
Allowance for equity funds used during construction 53,000,000 39,000,000 139,000,000 102,000,000
Leveraged lease income (loss) 5,000,000 5,000,000 (11,000,000) 16,000,000
Interest expense, net of amounts capitalized (202,000,000) (218,000,000) (628,000,000) (649,000,000)
Other income (expense), net (10,000,000) (4,000,000) (20,000,000) (4,000,000)
Total other income and (expense) (154,000,000) (178,000,000) (520,000,000) (535,000,000)
Earnings Before Income Taxes 1,337,000,000 1,562,000,000 1,936,000,000 3,114,000,000
Income taxes 468,000,000 569,000,000 657,000,000 1,098,000,000
Consolidated Net Income 869,000,000 993,000,000 1,279,000,000 2,016,000,000
Dividends on Preferred and Preference Stock of Subsidiaries 17,000,000 17,000,000 49,000,000 49,000,000
Consolidated Net Income After Dividends on Preferred and Preference Stock of Subsidiaries 852,000,000 [1],[2] 976,000,000 [1] 1,230,000,000 1,967,000,000 [1]
Earnings per share (EPS) -        
Basic EPS (in dollars per share) $ 0.97 $ 1.11 $ 1.41 $ 2.26
Diluted EPS (in dollars per share) $ 0.97 $ 1.11 $ 1.40 $ 2.23
Average number of shares of common stock outstanding (in millions)        
Basic (in shares) 878 876 874 872
Diluted (in shares) 881 883 879 880
Cash dividends paid per share of common stock $ 0.5075 $ 0.4900 $ 1.5050 $ 1.4525
Alabama Power [Member]
       
Operating Revenues:        
Retail revenues 1,438,000,000 1,476,000,000 3,800,000,000 3,822,000,000
Wholesale revenues, non-affiliates 66,000,000 79,000,000 186,000,000 210,000,000
Wholesale revenues, affiliates 47,000,000 31,000,000 163,000,000 51,000,000
Other revenues 53,000,000 51,000,000 155,000,000 147,000,000
Total operating revenues 1,604,000,000 1,637,000,000 4,304,000,000 4,230,000,000
Operating Expenses:        
Fuel 467,000,000 469,000,000 1,240,000,000 1,118,000,000
Purchased power, non-affiliates 36,000,000 31,000,000 84,000,000 63,000,000
Purchased power, affiliates 30,000,000 41,000,000 102,000,000 147,000,000
Other operations and maintenance 316,000,000 307,000,000 965,000,000 944,000,000
Depreciation and amortization 170,000,000 161,000,000 487,000,000 478,000,000
Taxes other than income taxes 85,000,000 84,000,000 262,000,000 255,000,000
Total operating expenses 1,104,000,000 1,093,000,000 3,140,000,000 3,005,000,000
Operating Income 500,000,000 544,000,000 1,164,000,000 1,225,000,000
Other Income and (Expense):        
Allowance for equity funds used during construction 7,000,000 4,000,000 23,000,000 13,000,000
Interest expense, net of amounts capitalized (65,000,000) (71,000,000) (196,000,000) (217,000,000)
Other income (expense), net 0 (3,000,000) 1,000,000 (6,000,000)
Total other income and (expense) (58,000,000) (70,000,000) (172,000,000) (210,000,000)
Earnings Before Income Taxes 442,000,000 474,000,000 992,000,000 1,015,000,000
Income taxes 174,000,000 184,000,000 390,000,000 394,000,000
Consolidated Net Income 268,000,000 290,000,000 602,000,000 621,000,000
Dividends on Preferred and Preference Stock 10,000,000 10,000,000 30,000,000 30,000,000
Consolidated Net Income After Dividends on Preferred and Preference Stock of Subsidiaries 258,000,000 280,000,000 572,000,000 591,000,000
Georgia Power [Member]
       
Operating Revenues:        
Retail revenues 2,314,000,000 2,335,000,000 5,922,000,000 5,786,000,000
Wholesale revenues, non-affiliates 77,000,000 73,000,000 212,000,000 214,000,000
Wholesale revenues, affiliates 3,000,000 5,000,000 14,000,000 14,000,000
Other revenues 90,000,000 85,000,000 260,000,000 249,000,000
Total operating revenues 2,484,000,000 2,498,000,000 6,408,000,000 6,263,000,000
Operating Expenses:        
Fuel 691,000,000 630,000,000 1,767,000,000 1,642,000,000
Purchased power, non-affiliates 64,000,000 79,000,000 175,000,000 266,000,000
Purchased power, affiliates 152,000,000 181,000,000 503,000,000 469,000,000
Other operations and maintenance 402,000,000 398,000,000 1,230,000,000 1,243,000,000
Depreciation and amortization 201,000,000 186,000,000 605,000,000 559,000,000
Taxes other than income taxes 102,000,000 100,000,000 292,000,000 281,000,000
Total operating expenses 1,612,000,000 1,574,000,000 4,572,000,000 4,460,000,000
Operating Income 872,000,000 924,000,000 1,836,000,000 1,803,000,000
Other Income and (Expense):        
Allowance for equity funds used during construction 11,000,000 15,000,000 24,000,000 41,000,000
Interest expense, net of amounts capitalized (92,000,000) (95,000,000) (279,000,000) (276,000,000)
Other income (expense), net (1,000,000) (1,000,000) (2,000,000) (10,000,000)
Total other income and (expense) (82,000,000) (81,000,000) (257,000,000) (245,000,000)
Earnings Before Income Taxes 790,000,000 843,000,000 1,579,000,000 1,558,000,000
Income taxes 299,000,000 314,000,000 600,000,000 558,000,000
Consolidated Net Income 491,000,000 529,000,000 979,000,000 1,000,000,000
Dividends on Preferred and Preference Stock 4,000,000 4,000,000 13,000,000 13,000,000
Consolidated Net Income After Dividends on Preferred and Preference Stock of Subsidiaries 487,000,000 525,000,000 966,000,000 987,000,000
Gulf Power [Member]
       
Operating Revenues:        
Retail revenues 335,916,000 347,435,000 901,343,000 880,833,000
Wholesale revenues, non-affiliates 29,431,000 27,462,000 82,533,000 83,309,000
Wholesale revenues, affiliates 16,701,000 30,113,000 65,206,000 95,179,000
Other revenues 17,313,000 16,809,000 47,726,000 48,951,000
Total operating revenues 399,361,000 421,819,000 1,096,808,000 1,108,272,000
Operating Expenses:        
Fuel 136,216,000 160,749,000 397,409,000 423,057,000
Purchased power, non-affiliates 17,180,000 18,380,000 41,369,000 41,690,000
Purchased power, affiliates 15,829,000 10,785,000 30,075,000 18,508,000
Other operations and maintenance 76,964,000 74,781,000 232,472,000 229,790,000
Depreciation and amortization 37,345,000 36,169,000 111,479,000 104,649,000
Taxes other than income taxes 28,051,000 27,142,000 75,437,000 76,202,000
Total operating expenses 311,585,000 328,006,000 888,241,000 893,896,000
Operating Income 87,776,000 93,813,000 208,567,000 214,376,000
Other Income and (Expense):        
Allowance for equity funds used during construction 1,663,000 1,015,000 4,318,000 3,988,000
Interest expense, net of amounts capitalized (13,988,000) (14,637,000) (42,650,000) (45,703,000)
Other income (expense), net (337,000) (557,000) (2,704,000) (454,000)
Total other income and (expense) (12,662,000) (14,179,000) (41,036,000) (42,169,000)
Earnings Before Income Taxes 75,114,000 79,634,000 167,531,000 172,207,000
Income taxes 28,109,000 30,329,000 62,950,000 64,172,000
Consolidated Net Income 47,005,000 49,305,000 104,581,000 108,035,000
Dividends on Preferred and Preference Stock 2,251,000 1,551,000 5,453,000 4,652,000
Consolidated Net Income After Dividends on Preferred and Preference Stock of Subsidiaries 44,754,000 47,754,000 99,128,000 103,383,000
Mississippi Power [Member]
       
Operating Revenues:        
Retail revenues 230,710,000 220,296,000 613,274,000 578,744,000
Wholesale revenues, non-affiliates 82,937,000 77,017,000 219,984,000 195,364,000
Wholesale revenues, affiliates 6,999,000 4,232,000 31,242,000 13,596,000
Other revenues 4,560,000 3,874,000 13,075,000 12,513,000
Total operating revenues 325,206,000 305,419,000 877,575,000 800,217,000
Operating Expenses:        
Fuel 138,148,000 127,576,000 384,905,000 321,664,000
Purchased power, non-affiliates 2,077,000 1,357,000 5,222,000 4,434,000
Purchased power, affiliates 14,691,000 15,683,000 28,302,000 35,386,000
Other operations and maintenance 56,907,000 53,541,000 166,175,000 168,937,000
Depreciation and amortization 22,202,000 21,136,000 67,644,000 66,134,000
Taxes other than income taxes 21,071,000 19,975,000 60,760,000 60,312,000
Estimated loss on Kemper IGCC 150,000,000 0 1,062,000,000 0
Total operating expenses 405,096,000 239,268,000 1,775,008,000 656,867,000
Operating Income (79,890,000) 66,151,000 (897,433,000) 143,350,000
Other Income and (Expense):        
Allowance for equity funds used during construction 32,624,000 17,763,000 87,740,000 43,460,000
Interest expense, net of amounts capitalized (8,728,000) (9,735,000) (29,526,000) (30,563,000)
Other income (expense), net (375,000) 2,584,000 (4,184,000) 2,303,000
Total other income and (expense) 23,521,000 10,612,000 54,030,000 15,200,000
Earnings Before Income Taxes (56,369,000) 76,763,000 (843,403,000) 158,550,000
Income taxes (32,687,000) 21,705,000 (355,156,000) 42,344,000
Consolidated Net Income (23,682,000) 55,058,000 (488,247,000) 116,206,000
Dividends on Preferred and Preference Stock 433,000 433,000 1,299,000 1,299,000
Consolidated Net Income After Dividends on Preferred and Preference Stock of Subsidiaries (24,115,000) 54,625,000 (489,546,000) 114,907,000
Southern Power [Member]
       
Operating Revenues:        
Wholesale revenues, non-affiliates 265,752,000 239,916,000 705,828,000 558,338,000
Wholesale revenues, affiliates 96,795,000 112,705,000 263,624,000 330,443,000
Other revenues 2,220,000 2,350,000 5,517,000 5,676,000
Total operating revenues 364,767,000 354,971,000 974,969,000 894,457,000
Operating Expenses:        
Fuel 133,464,000 126,109,000 363,466,000 306,738,000
Purchased power, non-affiliates 19,673,000 23,888,000 56,553,000 67,052,000
Purchased power, affiliates 7,011,000 2,650,000 21,158,000 7,904,000
Other operations and maintenance 41,309,000 40,357,000 154,920,000 128,951,000
Depreciation and amortization 41,094,000 37,612,000 126,152,000 103,541,000
Taxes other than income taxes 5,719,000 5,121,000 16,526,000 14,656,000
Total operating expenses 248,270,000 235,737,000 738,775,000 628,842,000
Operating Income 116,497,000 119,234,000 236,194,000 265,615,000
Other Income and (Expense):        
Interest expense, net of amounts capitalized (12,961,000) (17,210,000) (53,923,000) (44,801,000)
Other income (expense), net (791,000) (522,000) (2,739,000) (686,000)
Total other income and (expense) (13,752,000) (17,732,000) (56,662,000) (45,487,000)
Earnings Before Income Taxes 102,745,000 101,502,000 179,532,000 220,128,000
Income taxes 17,592,000 33,126,000 37,265,000 75,834,000
Consolidated Net Income $ 85,153,000 $ 68,376,000 $ 142,267,000 $ 144,294,000
[1] After dividends on preferred and preference stock of subsidiaries.
[2] Segment net income (loss) for the three months ended September 30, 2013 includes a $150 million pre-tax charge ($93 million after tax) for an estimated probable loss on the Kemper IGCC. See Note (B) under "Integrated Coal Gasification Combined Cycle – Kemper IGCC Cost Estimate" herein for additional information.