QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

The tables below provide summarized quarterly financial information for each Registrant for 2019 and 2018. Each Registrant's business is influenced by seasonal weather conditions.



Quarter Ended	Southern Company^(a)		Alabama Power		Georgia Power		Mississippi Power^(b)		Southern Power^(c)			Southern Company Gas^(d)
	(in millions)
March 2019
Operating Revenues	$	5,412	$	1,408	$	1,833	$	287	$	443		$	1,474
Operating Income (Loss)	3,691		338		448		56		60			353
Net Income (Loss)	2,059		217		311		37		27			270
Net Income (Loss) Attributable to Registrant	2,084		217		311		37		56			270

June 2019
Operating Revenues	$	5,098	$	1,513	$	2,117	$	313	$	510		$	689
Operating Income (Loss)	1,342		445		647		54		153			134
Net Income (Loss)	931		296		448		37		203			106
Net Income (Loss) Attributable to Registrant	899		296		448		37		174			106

September 2019
Operating Revenues	$	5,995	$	1,841	$	2,755	$	370	$	574		$	498
Operating Income (Loss)	2,013		676		1,161		93		167			(35		)
Net Income (Loss)	1,345		469		839		65		111			(29		)
Net Income (Loss) Attributable to Registrant	1,316		469		839		65		86			(29		)

December 2019
Operating Revenues	$	4,914	$	1,363	$	1,703	$	294	$	411		$	1,131
Operating Income (Loss)	690		134		205		22		15			318
Net Income (Loss)	409		88		122		—		(12		)	238
Net Income (Loss) Attributable to Registrant	440		88		122		—		23			238

(a)

Southern Company recorded a preliminary pre-tax gain associated with the sale of Gulf Power of $2.5 billion ($1.3 billion after tax) in the first quarter 2019 and recorded subsequent adjustments of $(15) million ($(11) million after tax) in the second quarter 2019, $4 million ($4 million after tax) in the third quarter 2019, and $70 million ($102 million after tax) in the fourth quarter 2019. In addition, Southern Company recorded a pre-tax loss, including related impairment charges, on the sales of certain PowerSecure business units totaling $32 million in the second quarter 2019, $14 million ($15 million after tax) in the third quarter 2019, and $12 million ($5 million after tax) in the fourth quarter 2019, as well as a pre-tax impairment charge of $17 million ($13 million after tax) in the fourth quarter 2019 related to a leveraged lease investment. See Notes 3 and 15 under "Other Matters – Southern Company" and "Southern Company," respectively, for additional information. Also see notes (b), (c), and (d) below.

(b)

Mississippi Power recorded total pre-tax charges to income of $2 million ($1 million after tax) in the first quarter 2019, $4 million ($3 million after tax) in the second quarter 2019, $4 million ($3 million after tax) in the third quarter 2019, and $14 million ($17 million after tax) in the fourth quarter 2019 as a result of abandonment and related closure costs and ongoing period costs, net of salvage proceeds, for the mine and gasifier-related assets at the Kemper County energy facility. The fourth quarter charges include impacts associated with the expected close out of a DOE contract related to the Kemper County energy facility, as well as an adjustment related to the tax abandonment of the Kemper IGCC following the filing of the 2018 tax return. See Note 2 under "Mississippi Power – Kemper County Energy Facility" for additional information.


(c)	Southern Power recorded a pre-tax gain of $23 million ($88 million gain after tax) in the second quarter 2019 on the sale of Plant Nacogdoches. See Note 15 under "Southern Power" for additional information.

(d)

Southern Company Gas recorded pre-tax impairment charges of $92 million ($65 million after tax) in the third quarter 2019, and a subsequent adjustment of $(1) million ($4 million after tax) in the fourth quarter 2019, related to a natural gas storage facility in Louisiana and $24 million ($17 million after tax) in the fourth quarter 2019 in contemplation of the sale of its interests in Pivotal LNG and Atlantic Coast Pipeline. See Notes 3 and 15 under "Other Matters – Southern Company Gas" and "Southern Company Gas – Proposed Sale of Pivotal LNG and Atlantic Coast Pipeline," respectively, for additional information.



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 and Biomass 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 $(36) million ($(76) million after tax), $353 million ($40 million after tax), and $(27) million ($(15) million after tax), respectively. See Note 15 under "Southern Company Gas" for additional information.

The table below provides quarterly earnings per share financial information for Southern Company common stock for 2019 and 2018.



	Earnings Per Common Share^(*)
Quarter Ended	Basic			Diluted

March 2019	$	2.01		$	1.99
June 2019	0.86			0.85
September 2019	1.26			1.25
December 2019	0.42			0.42

March 2018	$	0.93		$	0.92
June 2018	(0.15		)	(0.15		)
September 2018	1.14			1.13
December 2018	0.27			0.27

(*)

See the notes below the two preceding tables for additional information.