| Summarized quarterly financial data |
The tables below provide summarized quarterly financial information for each registrant for 2018 and 2017. Each registrant's business is influenced by seasonal weather conditions. | | | | | | | | | | | | | | | | | | | | Quarter Ended | Southern Company(a) | Alabama Power | Georgia Power(b) | Mississippi Power(c) | Southern Power(d) | Southern Company Gas(e) | | (in millions) | March 2018 | | | | | | | Operating Revenues | $ | 6,372 |
| $ | 1,473 |
| $ | 1,961 |
| $ | 302 |
| $ | 509 |
| $ | 1,639 |
| Operating Income (Loss) | 1,376 |
| 372 |
| 513 |
| 7 |
| 60 |
| 388 |
| Net Income (Loss) | 936 |
| 225 |
| 352 |
| (7 | ) | 115 |
| 279 |
| Net Income (Loss) Attributable to Registrant | 938 |
| 225 |
| 352 |
| (7 | ) | 121 |
| 279 |
| | | | | | | | June 2018 | | | | | | | Operating Revenues | $ | 5,627 |
| $ | 1,503 |
| $ | 2,048 |
| $ | 297 |
| $ | 555 |
| $ | 730 |
| Operating Income (Loss) | 63 |
| 380 |
| (472 | ) | 54 |
| 16 |
| 49 |
| Net Income (Loss) | (127 | ) | 259 |
| (396 | ) | 46 |
| 45 |
| (31 | ) | Net Income (Loss) Attributable to Registrant | (154 | ) | 259 |
| (396 | ) | 46 |
| 22 |
| (31 | ) | | | | | | | | September 2018 | | | | | | | Operating Revenues | $ | 6,159 |
| $ | 1,740 |
| $ | 2,593 |
| $ | 358 |
| $ | 635 |
| $ | 492 |
| Operating Income (Loss) | 2,174 |
| 561 |
| 991 |
| 80 |
| 136 |
| 374 |
| Net Income (Loss) | 1,222 |
| 373 |
| 664 |
| 47 |
| 146 |
| 46 |
| Net Income (Loss) Attributable to Registrant | 1,164 |
| 373 |
| 664 |
| 47 |
| 92 |
| 46 |
| | | | | | | | December 2018 | | | | | | | Operating Revenues | $ | 5,337 |
| $ | 1,316 |
| $ | 1,818 |
| $ | 308 |
| $ | 506 |
| $ | 1,048 |
| Operating Income (Loss) | 578 |
| 164 |
| 257 |
| 52 |
| 30 |
| 104 |
| Net Income (Loss) | 269 |
| 73 |
| 173 |
| 149 |
| (60 | ) | 78 |
| Net Income (Loss) Attributable to Registrant | 278 |
| 73 |
| 173 |
| 149 |
| (48 | ) | 78 |
|
| | (a) | See notes (b), (c), (d), and (e) below. |
| | (b) | Georgia Power recorded an estimated probable loss of $1.1 billion in the second quarter 2018 to reflect its revised estimate to complete construction and start-up of Plant Vogtle Units 3 and 4. See Note 2 under "Georgia Power – Nuclear Construction" for additional information. |
| | (c) | As a result of the abandonment and related closure activities for the mine and gasifier-related assets at the Kemper County energy facility, Mississippi Power recorded total pre-tax charges to income of $44 million ($33 million after tax) in the first quarter 2018, immaterial amounts in the second and third quarters 2018, and a pre-tax credit to income of $9 million in the fourth quarter 2018. In addition, Mississippi Power recorded a credit to earnings of $95 million in the fourth quarter 2018 primarily resulting from the reduction of a valuation allowance for a state income tax NOL carryforward associated with the Kemper County energy facility. See Note 2 under "Mississippi Power – Kemper County Energy Facility" and Note 10 for additional information. |
| | (d) | Southern Power recorded pre-tax impairment charges of $119 million ($89 million after tax) in the second quarter 2018 in contemplation of the sale of the Florida Plants and $36 million ($27 million after tax) in the third quarter 2018 related to wind turbine equipment. See Note 15 under "Southern Power – Sales of Natural Gas Plants" and " – Development Projects" for additional information. As a result of the Tax Reform Legislation, Southern Power recorded income tax expense of $75 million in the fourth quarter 2018. See Note 10 for additional information. |
| | (e) | Southern Company Gas recorded a goodwill impairment charge of $42 million in the first quarter 2018 in contemplation of the sale of Pivotal Home Solutions. Southern Company Gas also recorded gains (losses) on dispositions in the second, third, and fourth quarters 2018 of $(36) million pre-tax and $(76) million after tax, $353 million pre-tax and $40 million after tax, and $(27) million pre-tax and $(15) million after tax, respectively. See Note 15 under "Southern Company Gas" for additional information. |
| | | | | | | | | | | | | | | | | | | | Quarter Ended | Southern Company(a)(b)(c) | Alabama Power | Georgia Power | Mississippi Power(a)(b) | Southern Power(b) | Southern Company Gas(b) | | (in millions) | March 2017 | | | | | | | Operating Revenues | $ | 5,771 |
| $ | 1,382 |
| $ | 1,832 |
| $ | 272 |
| $ | 450 |
| $ | 1,560 |
| Operating Income (Loss) | 1,252 |
| 361 |
| 483 |
| (64 | ) | 65 |
| 389 |
| Net Income (Loss) | 665 |
| 174 |
| 260 |
| (20 | ) | 66 |
| 239 |
| Net Income (Loss) Attributable to Registrant | 658 |
| 174 |
| 260 |
| (20 | ) | 70 |
| 239 |
| | | | | | | | June 2017 | | | | | | | Operating Revenues | $ | 5,430 |
| $ | 1,484 |
| $ | 2,048 |
| $ | 303 |
| $ | 529 |
| $ | 716 |
| Operating Income (Loss) | (1,649 | ) | 440 |
| 621 |
| (2,956 | ) | 112 |
| 95 |
| Net Income (Loss) | (1,348 | ) | 230 |
| 347 |
| (2,054 | ) | 104 |
| 49 |
| Net Income (Loss) Attributable to Registrant | (1,381 | ) | 230 |
| 347 |
| (2,054 | ) | 82 |
| 49 |
| | | | | | | | September 2017 | | | | | | | Operating Revenues | $ | 6,201 |
| $ | 1,740 |
| $ | 2,546 |
| $ | 341 |
| $ | 618 |
| $ | 565 |
| Operating Income (Loss) | 1,991 |
| 601 |
| 1,017 |
| 49 |
| 159 |
| 67 |
| Net Income (Loss) | 1,109 |
| 325 |
| 580 |
| 40 |
| 154 |
| 15 |
| Net Income (Loss) Attributable to Registrant | 1,069 |
| 325 |
| 580 |
| 40 |
| 124 |
| 15 |
| | | | | | | | December 2017 | | | | | | | Operating Revenues | $ | 5,629 |
| $ | 1,433 |
| $ | 1,884 |
| $ | 271 |
| $ | 478 |
| $ | 1,079 |
| Operating Income (Loss) | 739 |
| 255 |
| 452 |
| (180 | ) | 32 |
| 109 |
| Net Income (Loss) | 500 |
| 119 |
| 227 |
| (556 | ) | 793 |
| (60 | ) | Net Income (Loss) Attributable to Registrant | 496 |
| 119 |
| 227 |
| (556 | ) | 795 |
| (60 | ) |
| | (a) | As a result of revisions to the cost estimate for the Kemper IGCC and the project's June 2017 suspension, Mississippi Power recorded total pre-tax charges to income related to the Kemper IGCC of $108 million ($67 million after tax) in the first quarter 2017, $3.0 billion ($2.1 billion after tax) in the second quarter 2017, $34 million ($21 million after tax) in the third quarter 2017, and $208 million ($185 million after tax) in the fourth quarter 2017. See Note 2 under "Mississippi Power – Kemper County Energy Facility" for additional information. |
| | (b) | As a result of the Tax Reform Legislation, the Southern Company system recorded a total income tax benefit of $264 million in the fourth quarter 2017, comprised primarily of income tax expense of $372 million recorded at Mississippi Power, income tax benefit of $743 million recorded at Southern Power, and income tax expense of $93 million recorded at Southern Company Gas. See Note 10 for additional information. |
| | (c) | Gulf Power recorded a pre-tax charge of $33 million ($20 million after tax) for the write-down of its ownership in Plant Scherer Unit 3 in the first quarter 2017. See Note 2 under "Southern Company – Gulf Power" for additional information. |
Southern Company The table below provides quarterly per share financial information for Southern Company common stock for 2018 and 2017. | | | | | | | | | | | | | | Per Common Share | | Basic Earnings | | Diluted Earnings | | | Quarter Ended | Dividends | | | | | | | March 2018 | $ | 0.93 |
| | $ | 0.92 |
| | $ | 0.5800 |
| June 2018 | (0.15 | ) | | (0.15 | ) | | 0.6000 |
| September 2018 | 1.14 |
| | 1.13 |
| | 0.6000 |
| December 2018 | 0.27 |
| | 0.27 |
| | 0.6000 |
| | | | | | | March 2017 | $ | 0.66 |
| | $ | 0.66 |
| | $ | 0.5600 |
| June 2017 | (1.38 | ) | | (1.37 | ) | | 0.5800 |
| September 2017 | 1.07 |
| | 1.06 |
| | 0.5800 |
| December 2017 | 0.49 |
| | 0.49 |
| | 0.5800 |
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