Consolidated Statements of Cash Flows - USD ($)
|
12 Months Ended |
Dec. 31, 2018 |
Dec. 31, 2017 |
Dec. 31, 2016 |
Operating Activities: |
|
|
|
Consolidated net income |
$ 2,300,000,000
|
$ 926,000,000
|
$ 2,529,000,000
|
Adjustments to reconcile consolidated net income to net cash provided from operating activities — |
|
|
|
Depreciation and amortization, total |
3,549,000,000
|
3,457,000,000
|
2,923,000,000
|
Deferred income taxes |
94,000,000
|
166,000,000
|
(127,000,000)
|
Amortization of investment tax credits |
(87,000,000)
|
(79,000,000)
|
(59,000,000)
|
Collateral deposits |
17,000,000
|
(4,000,000)
|
(102,000,000)
|
Allowance for equity funds used during construction |
(138,000,000)
|
(160,000,000)
|
(202,000,000)
|
Pension and postretirement funding |
(4,000,000)
|
(2,000,000)
|
(1,029,000,000)
|
Settlement of asset retirement obligations |
(244,000,000)
|
(177,000,000)
|
(171,000,000)
|
Stock based compensation expense |
125,000,000
|
109,000,000
|
121,000,000
|
Hedge settlements |
(10,000,000)
|
6,000,000
|
(233,000,000)
|
Estimated loss on plants under construction |
1,093,000,000
|
3,179,000,000
|
428,000,000
|
Impairment charges |
210,000,000
|
0
|
0
|
Goodwill impairment |
42,000,000
|
|
|
Gain on dispositions, net |
(301,000,000)
|
(42,000,000)
|
(2,000,000)
|
Other, net |
(22,000,000)
|
(112,000,000)
|
(219,000,000)
|
Changes in certain current assets and liabilities — |
|
|
|
-Receivables |
(426,000,000)
|
(202,000,000)
|
(544,000,000)
|
-Fossil fuel for generation |
123,000,000
|
36,000,000
|
178,000,000
|
-Natural gas for sale |
49,000,000
|
36,000,000
|
(226,000,000)
|
-Other current assets |
(127,000,000)
|
(143,000,000)
|
(206,000,000)
|
-Accounts payable |
291,000,000
|
(280,000,000)
|
301,000,000
|
-Accrued taxes |
267,000,000
|
(142,000,000)
|
1,456,000,000
|
-Retail fuel cost over recovery |
36,000,000
|
(212,000,000)
|
(231,000,000)
|
-Other current liabilities |
63,000,000
|
(45,000,000)
|
250,000,000
|
Net cash provided from operating activities |
6,945,000,000
|
6,394,000,000
|
4,894,000,000
|
Investing Activities: |
|
|
|
Business acquisitions, net of cash acquired |
(65,000,000)
|
(1,054,000,000)
|
(10,680,000,000)
|
Property additions |
(8,001,000,000)
|
(7,423,000,000)
|
(7,310,000,000)
|
Proceeds pursuant to the Toshiba Guarantee, net of joint owner portion |
0
|
1,682,000,000
|
0
|
Nuclear decommissioning trust fund purchases |
(1,117,000,000)
|
(811,000,000)
|
(1,160,000,000)
|
Nuclear decommissioning trust fund sales |
1,111,000,000
|
805,000,000
|
1,154,000,000
|
Proceeds from dispositions |
2,956,000,000
|
97,000,000
|
15,000,000
|
Cost of removal, net of salvage |
(388,000,000)
|
(313,000,000)
|
(245,000,000)
|
Change in construction payables, net |
50,000,000
|
259,000,000
|
(121,000,000)
|
Investment in unconsolidated subsidiaries |
(114,000,000)
|
(152,000,000)
|
(1,444,000,000)
|
Payments pursuant to LTSAs |
(186,000,000)
|
(227,000,000)
|
(134,000,000)
|
Other investing activities |
(6,000,000)
|
(53,000,000)
|
(122,000,000)
|
Net cash used for investing activities |
(5,760,000,000)
|
(7,190,000,000)
|
(20,047,000,000)
|
Financing Activities: |
|
|
|
Increase (decrease) in notes payable, net |
(774,000,000)
|
(401,000,000)
|
1,228,000,000
|
Proceeds — |
|
|
|
Long-term debt |
2,478,000,000
|
5,858,000,000
|
16,368,000,000
|
Common stock |
1,090,000,000
|
793,000,000
|
3,758,000,000
|
Preferred stock |
0
|
250,000,000
|
0
|
Short-term borrowings |
3,150,000,000
|
1,259,000,000
|
0
|
Redemptions and repurchases — |
|
|
|
Long-term debt |
(5,533,000,000)
|
(2,930,000,000)
|
(3,145,000,000)
|
Preferred and preference stock |
(33,000,000)
|
(658,000,000)
|
0
|
Short-term borrowings |
(1,900,000,000)
|
(659,000,000)
|
(478,000,000)
|
Other long-term debt |
(100,000,000)
|
0
|
0
|
Distributions to noncontrolling interests |
(153,000,000)
|
(119,000,000)
|
(72,000,000)
|
Capital contributions from noncontrolling interests |
2,551,000,000
|
80,000,000
|
682,000,000
|
Payment of common stock dividends |
(2,425,000,000)
|
(2,300,000,000)
|
(2,104,000,000)
|
Other financing activities |
(264,000,000)
|
(222,000,000)
|
(512,000,000)
|
Net cash provided from (used for) financing activities |
(1,813,000,000)
|
951,000,000
|
15,725,000,000
|
Net Change in Cash, Cash Equivalents, and Restricted Cash |
(628,000,000)
|
155,000,000
|
572,000,000
|
Cash, Cash Equivalents, and Restricted Cash at Beginning of Year |
2,147,000,000
|
1,992,000,000
|
1,420,000,000
|
Cash, Cash Equivalents, and Restricted Cash at End of Year |
1,519,000,000
|
2,147,000,000
|
1,992,000,000
|
Supplemental Cash Flow Information: |
|
|
|
Interest, net of amounts capitalized |
1,794,000,000
|
1,676,000,000
|
1,066,000,000
|
Income taxes (net of refunds) |
172,000,000
|
(410,000,000)
|
(148,000,000)
|
Noncash transactions — |
|
|
|
Accrued property additions at year-end |
1,103,000,000
|
985,000,000
|
1,262,000,000
|
Alabama Power |
|
|
|
Operating Activities: |
|
|
|
Consolidated net income |
945,000,000
|
866,000,000
|
839,000,000
|
Adjustments to reconcile consolidated net income to net cash provided from operating activities — |
|
|
|
Depreciation and amortization, total |
917,000,000
|
888,000,000
|
844,000,000
|
Deferred income taxes |
174,000,000
|
409,000,000
|
407,000,000
|
Allowance for equity funds used during construction |
(62,000,000)
|
(39,000,000)
|
(28,000,000)
|
Pension and postretirement funding |
(4,000,000)
|
(2,000,000)
|
(133,000,000)
|
Settlement of asset retirement obligations |
(55,000,000)
|
(26,000,000)
|
(25,000,000)
|
Other, net |
(1,000,000)
|
13,000,000
|
(77,000,000)
|
Changes in certain current assets and liabilities — |
|
|
|
-Receivables |
(149,000,000)
|
(168,000,000)
|
94,000,000
|
-Prepayments |
(2,000,000)
|
(2,000,000)
|
1,000,000
|
-Other current assets |
30,000,000
|
20,000,000
|
38,000,000
|
-Accounts payable |
24,000,000
|
71,000,000
|
73,000,000
|
-Accrued taxes |
10,000,000
|
(84,000,000)
|
93,000,000
|
-Retail fuel cost over recovery |
0
|
(76,000,000)
|
(162,000,000)
|
-Other current liabilities |
128,000,000
|
3,000,000
|
11,000,000
|
-Materials and supplies |
(82,000,000)
|
(34,000,000)
|
(38,000,000)
|
-Accrued compensation |
8,000,000
|
(2,000,000)
|
12,000,000
|
Net cash provided from operating activities |
1,881,000,000
|
1,837,000,000
|
1,949,000,000
|
Investing Activities: |
|
|
|
Property additions |
(2,158,000,000)
|
(1,882,000,000)
|
(1,272,000,000)
|
Nuclear decommissioning trust fund purchases |
(279,000,000)
|
(237,000,000)
|
(352,000,000)
|
Nuclear decommissioning trust fund sales |
278,000,000
|
237,000,000
|
351,000,000
|
Cost of removal, net of salvage |
(130,000,000)
|
(112,000,000)
|
(94,000,000)
|
Change in construction payables, net |
26,000,000
|
161,000,000
|
(37,000,000)
|
Other investing activities |
(26,000,000)
|
(43,000,000)
|
(34,000,000)
|
Net cash used for investing activities |
(2,289,000,000)
|
(1,876,000,000)
|
(1,438,000,000)
|
Proceeds — |
|
|
|
Preferred stock |
0
|
250,000,000
|
0
|
Senior notes |
500,000,000
|
1,100,000,000
|
400,000,000
|
Pollution control revenue bonds |
120,000,000
|
0
|
0
|
Other long-term debt |
0
|
0
|
45,000,000
|
Capital contributions from parent company |
511,000,000
|
361,000,000
|
260,000,000
|
Redemptions and repurchases — |
|
|
|
Preferred and preference stock |
0
|
(238,000,000)
|
0
|
Senior notes |
0
|
(525,000,000)
|
(200,000,000)
|
Pollution control revenue bonds |
(120,000,000)
|
(36,000,000)
|
0
|
Payment of common stock dividends |
(801,000,000)
|
(714,000,000)
|
(765,000,000)
|
Other financing activities |
(33,000,000)
|
(35,000,000)
|
(25,000,000)
|
Net cash provided from (used for) financing activities |
177,000,000
|
163,000,000
|
(285,000,000)
|
Net Change in Cash, Cash Equivalents, and Restricted Cash |
(231,000,000)
|
124,000,000
|
226,000,000
|
Cash, Cash Equivalents, and Restricted Cash at Beginning of Year |
544,000,000
|
420,000,000
|
194,000,000
|
Cash, Cash Equivalents, and Restricted Cash at End of Year |
313,000,000
|
544,000,000
|
420,000,000
|
Supplemental Cash Flow Information: |
|
|
|
Interest, net of amounts capitalized |
284,000,000
|
285,000,000
|
277,000,000
|
Income taxes (net of refunds) |
106,000,000
|
236,000,000
|
(108,000,000)
|
Noncash transactions — |
|
|
|
Accrued property additions at year-end |
272,000,000
|
245,000,000
|
84,000,000
|
Georgia Power |
|
|
|
Operating Activities: |
|
|
|
Consolidated net income |
793,000,000
|
1,428,000,000
|
1,347,000,000
|
Adjustments to reconcile consolidated net income to net cash provided from operating activities — |
|
|
|
Depreciation and amortization, total |
1,142,000,000
|
1,100,000,000
|
1,063,000,000
|
Deferred income taxes |
(260,000,000)
|
458,000,000
|
383,000,000
|
Pension, postretirement, and other employee benefits |
(75,000,000)
|
(68,000,000)
|
(33,000,000)
|
Pension and postretirement funding |
0
|
0
|
(287,000,000)
|
Settlement of asset retirement obligations |
(116,000,000)
|
(120,000,000)
|
(123,000,000)
|
Other deferred charges — affiliated |
0
|
0
|
(111,000,000)
|
Estimated loss on plants under construction |
1,060,000,000
|
0
|
0
|
Other, net |
(21,000,000)
|
(83,000,000)
|
(25,000,000)
|
Changes in certain current assets and liabilities — |
|
|
|
-Receivables |
8,000,000
|
(256,000,000)
|
60,000,000
|
-Fossil fuel for generation |
83,000,000
|
(16,000,000)
|
104,000,000
|
-Other current assets |
(43,000,000)
|
(28,000,000)
|
(38,000,000)
|
-Accounts payable |
95,000,000
|
(219,000,000)
|
(42,000,000)
|
-Accrued taxes |
58,000,000
|
1,000,000
|
131,000,000
|
-Retail fuel cost over recovery |
0
|
(84,000,000)
|
(32,000,000)
|
-Other current liabilities |
(107,000,000)
|
(33,000,000)
|
28,000,000
|
-Prepaid income taxes |
152,000,000
|
(168,000,000)
|
0
|
Net cash provided from operating activities |
2,769,000,000
|
1,912,000,000
|
2,425,000,000
|
Investing Activities: |
|
|
|
Property additions |
(3,116,000,000)
|
(2,704,000,000)
|
(2,223,000,000)
|
Proceeds pursuant to the Toshiba Guarantee, net of joint owner portion |
0
|
1,682,000,000
|
0
|
Nuclear decommissioning trust fund purchases |
(839,000,000)
|
(574,000,000)
|
(808,000,000)
|
Nuclear decommissioning trust fund sales |
833,000,000
|
568,000,000
|
803,000,000
|
Cost of removal, net of salvage |
(107,000,000)
|
(100,000,000)
|
(83,000,000)
|
Payments pursuant to LTSAs |
(54,000,000)
|
(64,000,000)
|
(34,000,000)
|
Change in construction payables, net of joint owner portion |
68,000,000
|
223,000,000
|
(35,000,000)
|
Proceeds from asset dispositions |
138,000,000
|
96,000,000
|
10,000,000
|
Other investing activities |
(32,000,000)
|
(39,000,000)
|
23,000,000
|
Net cash used for investing activities |
(3,109,000,000)
|
(912,000,000)
|
(2,347,000,000)
|
Financing Activities: |
|
|
|
Increase (decrease) in notes payable, net |
294,000,000
|
(391,000,000)
|
234,000,000
|
Proceeds — |
|
|
|
Short-term borrowings |
0
|
700,000,000
|
0
|
Senior notes |
0
|
1,350,000,000
|
650,000,000
|
Pollution control revenue bonds |
108,000,000
|
65,000,000
|
0
|
Other long-term debt |
0
|
370,000,000
|
0
|
Capital contributions from parent company |
2,985,000,000
|
431,000,000
|
594,000,000
|
FFB loan |
0
|
0
|
425,000,000
|
Redemptions and repurchases — |
|
|
|
Preferred and preference stock |
0
|
(270,000,000)
|
0
|
Short-term borrowings |
(150,000,000)
|
(550,000,000)
|
0
|
Senior notes |
(1,500,000,000)
|
(450,000,000)
|
(700,000,000)
|
Pollution control revenue bonds |
(469,000,000)
|
(65,000,000)
|
(4,000,000)
|
Payment of common stock dividends |
(1,396,000,000)
|
(1,281,000,000)
|
(1,305,000,000)
|
Premiums on redemption and repurchases of senior notes |
(152,000,000)
|
0
|
0
|
Other financing activities |
(20,000,000)
|
(60,000,000)
|
(36,000,000)
|
Net cash provided from (used for) financing activities |
(400,000,000)
|
(151,000,000)
|
(142,000,000)
|
Net Change in Cash, Cash Equivalents, and Restricted Cash |
(740,000,000)
|
849,000,000
|
(64,000,000)
|
Cash, Cash Equivalents, and Restricted Cash at Beginning of Year |
852,000,000
|
3,000,000
|
67,000,000
|
Cash, Cash Equivalents, and Restricted Cash at End of Year |
112,000,000
|
852,000,000
|
3,000,000
|
Supplemental Cash Flow Information: |
|
|
|
Interest, net of amounts capitalized |
408,000,000
|
386,000,000
|
375,000,000
|
Income taxes (net of refunds) |
300,000,000
|
496,000,000
|
170,000,000
|
Noncash transactions — |
|
|
|
Accrued property additions at year-end |
683,000,000
|
550,000,000
|
336,000,000
|
Mississippi Power |
|
|
|
Operating Activities: |
|
|
|
Consolidated net income |
236,000,000
|
(2,588,000,000)
|
(48,000,000)
|
Adjustments to reconcile consolidated net income to net cash provided from operating activities — |
|
|
|
Depreciation and amortization, total |
177,000,000
|
198,000,000
|
157,000,000
|
Deferred income taxes |
475,000,000
|
(727,000,000)
|
(67,000,000)
|
Allowance for equity funds used during construction |
0
|
(72,000,000)
|
(124,000,000)
|
Pension and postretirement funding |
0
|
0
|
(47,000,000)
|
Settlement of asset retirement obligations |
(35,000,000)
|
(23,000,000)
|
(23,000,000)
|
Estimated loss on plants under construction |
33,000,000
|
3,179,000,000
|
428,000,000
|
Other, net |
18,000,000
|
(8,000,000)
|
(9,000,000)
|
Changes in certain current assets and liabilities — |
|
|
|
-Receivables |
(19,000,000)
|
540,000,000
|
13,000,000
|
-Fossil fuel for generation |
(3,000,000)
|
24,000,000
|
4,000,000
|
-Other current assets |
(7,000,000)
|
(13,000,000)
|
(12,000,000)
|
-Accounts payable |
15,000,000
|
(3,000,000)
|
(14,000,000)
|
-Accrued taxes |
(46,000,000)
|
80,000,000
|
14,000,000
|
-Other current liabilities |
(41,000,000)
|
(3,000,000)
|
9,000,000
|
-Prepaid income taxes |
(12,000,000)
|
0
|
39,000,000
|
-Accrued interest |
(1,000,000)
|
(29,000,000)
|
27,000,000
|
-Over recovered regulatory clause revenues |
14,000,000
|
(51,000,000)
|
(45,000,000)
|
-Customer liability associated with Kemper refunds |
0
|
(1,000,000)
|
(73,000,000)
|
Net cash provided from operating activities |
804,000,000
|
503,000,000
|
229,000,000
|
Investing Activities: |
|
|
|
Property additions |
(188,000,000)
|
(429,000,000)
|
(798,000,000)
|
Change in construction payables, net |
4,000,000
|
(47,000,000)
|
(26,000,000)
|
Payments pursuant to LTSAs |
(29,000,000)
|
(10,000,000)
|
10,000,000
|
Government grant proceeds |
0
|
0
|
137,000,000
|
Other investing activities |
(19,000,000)
|
(18,000,000)
|
(20,000,000)
|
Net cash used for investing activities |
(232,000,000)
|
(504,000,000)
|
(697,000,000)
|
Financing Activities: |
|
|
|
Increase (decrease) in notes payable, net |
(4,000,000)
|
(18,000,000)
|
0
|
Proceeds — |
|
|
|
Short-term borrowings |
300,000,000
|
109,000,000
|
0
|
Senior notes |
600,000,000
|
0
|
0
|
Other long-term debt |
0
|
0
|
1,200,000,000
|
Capital contributions from parent company |
15,000,000
|
1,002,000,000
|
627,000,000
|
Long-term debt issuance to parent company |
0
|
40,000,000
|
200,000,000
|
Redemptions and repurchases — |
|
|
|
Preferred and preference stock |
(33,000,000)
|
0
|
0
|
Short-term borrowings |
(300,000,000)
|
(109,000,000)
|
(478,000,000)
|
Senior notes |
(155,000,000)
|
(35,000,000)
|
(300,000,000)
|
Pollution control revenue bonds |
(43,000,000)
|
0
|
0
|
Long-term debt to parent company |
0
|
(591,000,000)
|
(225,000,000)
|
Capital leases |
0
|
(71,000,000)
|
(3,000,000)
|
Other long-term debt |
(900,000,000)
|
(300,000,000)
|
(425,000,000)
|
Other financing activities |
(7,000,000)
|
(2,000,000)
|
(2,000,000)
|
Net cash provided from (used for) financing activities |
(527,000,000)
|
25,000,000
|
594,000,000
|
Net Change in Cash, Cash Equivalents, and Restricted Cash |
45,000,000
|
24,000,000
|
126,000,000
|
Cash, Cash Equivalents, and Restricted Cash at Beginning of Year |
248,000,000
|
224,000,000
|
98,000,000
|
Cash, Cash Equivalents, and Restricted Cash at End of Year |
293,000,000
|
248,000,000
|
224,000,000
|
Supplemental Cash Flow Information: |
|
|
|
Interest, net of amounts capitalized |
80,000,000
|
65,000,000
|
50,000,000
|
Income taxes (net of refunds) |
(525,000,000)
|
(424,000,000)
|
(97,000,000)
|
Noncash transactions — |
|
|
|
Accrued property additions at year-end |
35,000,000
|
32,000,000
|
78,000,000
|
Southern Power |
|
|
|
Operating Activities: |
|
|
|
Consolidated net income |
246,000,000
|
1,117,000,000
|
374,000,000
|
Adjustments to reconcile consolidated net income to net cash provided from operating activities — |
|
|
|
Depreciation and amortization, total |
524,000,000
|
536,000,000
|
370,000,000
|
Deferred income taxes |
(239,000,000)
|
(263,000,000)
|
(1,063,000,000)
|
Amortization of investment tax credits |
(58,000,000)
|
(57,000,000)
|
(37,000,000)
|
Collateral deposits |
17,000,000
|
(4,000,000)
|
(102,000,000)
|
Income taxes receivable, non-current |
42,000,000
|
(61,000,000)
|
(13,000,000)
|
Impairment charges |
156,000,000
|
0
|
0
|
Gain on dispositions, net |
2,000,000
|
0
|
0
|
Accrued income taxes, non-current |
(14,000,000)
|
14,000,000
|
(109,000,000)
|
Other, net |
(10,000,000)
|
(9,000,000)
|
12,000,000
|
Changes in certain current assets and liabilities — |
|
|
|
-Receivables |
(20,000,000)
|
(60,000,000)
|
(54,000,000)
|
-Other current assets |
(26,000,000)
|
(28,000,000)
|
4,000,000
|
-Accrued taxes |
7,000,000
|
(55,000,000)
|
940,000,000
|
-Other current liabilities |
(19,000,000)
|
1,000,000
|
46,000,000
|
-Prepaid income taxes |
25,000,000
|
24,000,000
|
(29,000,000)
|
Net cash provided from operating activities |
631,000,000
|
1,155,000,000
|
339,000,000
|
Investing Activities: |
|
|
|
Business acquisitions, net of cash acquired |
(65,000,000)
|
(1,016,000,000)
|
(2,284,000,000)
|
Property additions |
(315,000,000)
|
(268,000,000)
|
(2,114,000,000)
|
Proceeds from dispositions |
203,000,000
|
0
|
0
|
Change in construction payables, net of joint owner portion |
(6,000,000)
|
(153,000,000)
|
(57,000,000)
|
Payments pursuant to LTSAs and for equipment not yet received |
(75,000,000)
|
(203,000,000)
|
(350,000,000)
|
Other investing activities |
31,000,000
|
15,000,000
|
16,000,000
|
Net cash used for investing activities |
(227,000,000)
|
(1,625,000,000)
|
(4,789,000,000)
|
Financing Activities: |
|
|
|
Increase (decrease) in notes payable, net |
(105,000,000)
|
(104,000,000)
|
73,000,000
|
Proceeds — |
|
|
|
Short-term borrowings |
200,000,000
|
0
|
0
|
Senior notes |
0
|
525,000,000
|
2,831,000,000
|
Other long-term debt |
0
|
43,000,000
|
65,000,000
|
Capital contributions from parent company |
2,000,000
|
0
|
1,850,000,000
|
Redemptions and repurchases — |
|
|
|
Short-term borrowings |
(100,000,000)
|
0
|
0
|
Senior notes |
(350,000,000)
|
(500,000,000)
|
(200,000,000)
|
Other long-term debt |
(420,000,000)
|
(18,000,000)
|
(86,000,000)
|
Return of capital |
(1,650,000,000)
|
0
|
0
|
Distributions to noncontrolling interests |
(153,000,000)
|
(119,000,000)
|
(57,000,000)
|
Capital contributions from noncontrolling interests |
2,551,000,000
|
80,000,000
|
682,000,000
|
Purchase of membership interests from noncontrolling interests |
0
|
(59,000,000)
|
(129,000,000)
|
Payment of common stock dividends |
(312,000,000)
|
(317,000,000)
|
(272,000,000)
|
Other financing activities |
(26,000,000)
|
(33,000,000)
|
(30,000,000)
|
Net cash provided from (used for) financing activities |
(363,000,000)
|
(502,000,000)
|
4,727,000,000
|
Net Change in Cash, Cash Equivalents, and Restricted Cash |
41,000,000
|
(972,000,000)
|
277,000,000
|
Cash, Cash Equivalents, and Restricted Cash at Beginning of Year |
140,000,000
|
1,112,000,000
|
835,000,000
|
Cash, Cash Equivalents, and Restricted Cash at End of Year |
181,000,000
|
140,000,000
|
1,112,000,000
|
Supplemental Cash Flow Information: |
|
|
|
Interest, net of amounts capitalized |
173,000,000
|
189,000,000
|
89,000,000
|
Income taxes (net of refunds) |
79,000,000
|
(487,000,000)
|
116,000,000
|
Noncash transactions — |
|
|
|
Accrued property additions at year-end |
31,000,000
|
32,000,000
|
251,000,000
|
Accrued acquisitions at year-end |
0
|
0
|
461,000,000
|
Southern Company Gas |
|
|
|
Operating Activities: |
|
|
|
Consolidated net income |
372,000,000
|
243,000,000
|
|
Adjustments to reconcile consolidated net income to net cash provided from operating activities — |
|
|
|
Depreciation and amortization, total |
500,000,000
|
501,000,000
|
|
Deferred income taxes |
(1,000,000)
|
236,000,000
|
|
Pension and postretirement funding |
0
|
0
|
|
Hedge settlements |
0
|
0
|
|
Goodwill impairment |
42,000,000
|
0
|
|
Gain on dispositions, net |
(291,000,000)
|
0
|
|
Mark-to-market adjustments |
(19,000,000)
|
(24,000,000)
|
|
Other, net |
(24,000,000)
|
(51,000,000)
|
|
Changes in certain current assets and liabilities — |
|
|
|
-Receivables |
(218,000,000)
|
(94,000,000)
|
|
-Natural gas for sale |
49,000,000
|
36,000,000
|
|
-Other current assets |
4,000,000
|
(24,000,000)
|
|
-Accounts payable |
372,000,000
|
(20,000,000)
|
|
-Accrued taxes |
10,000,000
|
110,000,000
|
|
-Other current liabilities |
(22,000,000)
|
(8,000,000)
|
|
-Prepaid income taxes |
(42,000,000)
|
(39,000,000)
|
|
-Accrued compensation |
32,000,000
|
15,000,000
|
|
Net cash provided from operating activities |
764,000,000
|
881,000,000
|
|
Investing Activities: |
|
|
|
Property additions |
(1,388,000,000)
|
(1,514,000,000)
|
|
Proceeds from dispositions |
2,609,000,000
|
0
|
|
Cost of removal, net of salvage |
(96,000,000)
|
(66,000,000)
|
|
Change in construction payables, net |
(37,000,000)
|
72,000,000
|
|
Investment in unconsolidated subsidiaries |
(110,000,000)
|
(145,000,000)
|
|
Returned investment in unconsolidated subsidiaries |
20,000,000
|
80,000,000
|
|
Other investing activities |
0
|
5,000,000
|
|
Net cash used for investing activities |
998,000,000
|
(1,568,000,000)
|
|
Financing Activities: |
|
|
|
Increase (decrease) in notes payable, net |
(868,000,000)
|
262,000,000
|
|
Proceeds — |
|
|
|
First mortgage bonds |
300,000,000
|
400,000,000
|
|
Senior notes |
0
|
450,000,000
|
|
Capital contributions from parent company |
24,000,000
|
103,000,000
|
|
Redemptions and repurchases — |
|
|
|
Gas facility revenue bonds |
(200,000,000)
|
0
|
|
Medium-term notes |
0
|
(22,000,000)
|
|
Senior notes |
(155,000,000)
|
0
|
|
First mortgage bonds |
0
|
0
|
|
Return of capital |
(400,000,000)
|
0
|
|
Distributions to noncontrolling interests |
0
|
0
|
|
Purchase of 15% noncontrolling interest in SouthStar |
0
|
0
|
|
Payment of common stock dividends |
(468,000,000)
|
(443,000,000)
|
|
Other financing activities |
(3,000,000)
|
(9,000,000)
|
|
Net cash provided from (used for) financing activities |
(1,770,000,000)
|
741,000,000
|
|
Net Change in Cash, Cash Equivalents, and Restricted Cash |
(8,000,000)
|
54,000,000
|
|
Cash, Cash Equivalents, and Restricted Cash at Beginning of Year |
78,000,000
|
24,000,000
|
|
Cash, Cash Equivalents, and Restricted Cash at End of Year |
70,000,000
|
78,000,000
|
24,000,000
|
Supplemental Cash Flow Information: |
|
|
|
Interest, net of amounts capitalized |
249,000,000
|
223,000,000
|
|
Income taxes (net of refunds) |
524,000,000
|
72,000,000
|
|
Noncash transactions — |
|
|
|
Accrued property additions at year-end |
$ 97,000,000
|
$ 135,000,000
|
|
Predecessor | Southern Company Gas |
|
|
|
Redemptions and repurchases — |
|
|
|
Cash, Cash Equivalents, and Restricted Cash at Beginning of Year |
|
|
$ 22,000,000
|