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FINANCING (Tables)
 12 Months Ended
Dec. 31, 2020
Debt Disclosure [Abstract]  
Summary of long-term debt
Details of long-term debt at December 31, 2020 and 2019 are provided in the following table:
At December 31, 2020
Balance Outstanding at
December 31,
MaturityWeighted Average
Interest Rate		20202019
(in millions)
Southern Company
Senior notes(a)
2021-20503.78%$30,850 $30,023 
Junior subordinated notes2024-20804.30%7,295 5,295 
FFB loans(b)
2021-20442.92%4,618 3,843 
Pollution control revenue bonds(c)
2021-20531.11%2,675 2,963 
First mortgage bonds(d)
2023-20603.71%1,900 1,575 
Other revenue bonds(e)
2021-20406.45%320 320 
Debt payable to affiliated trusts(f)
20423.33%206 206 
Medium-term notes2021-20277.88%160 160 
Other long-term debt2021-20230.83%370 145 
Finance lease obligations(g)
231 226 
Unamortized fair value adjustment393 430 
Unamortized debt premium (discount), net(201)(152)
Unamortized debt issuance expenses(237)(247)
Total long-term debt48,580 44,787 
Less: Amount due within one year3,507 2,989 
Total long-term debt excluding amount due within one year$45,073 $41,798 
Alabama Power
Senior notes2021-20494.03%$7,625 $7,275 
Pollution control revenue bonds(c)
2021-20380.53%1,060 1,060 
Debt payable to affiliated trusts(f)
20423.33%206 206 
Other long-term debt20211.20%45 45 
Finance lease obligations(g)
5 4 
Unamortized debt premium (discount), net(16)(14)
Unamortized debt issuance expenses(56)(55)
Total long-term debt8,869 8,521 
Less: Amount due within one year311 251 
Total long-term debt excluding amount due within one year$8,558 $8,270 
Georgia Power
Senior notes2021-20503.59%$6,400 $5,850 
Junior subordinated notes20775.00%270 270 
FFB loans(b)
2021-20442.92%4,618 3,843 
Pollution control revenue bonds(c)
2025-20531.47%1,538 1,821 
Other long-term debt20210.65%125 — 
Finance lease obligations(g)
145 156 
Unamortized debt premium (discount), net(12)(7)
Unamortized debt issuance expenses(114)(117)
Total long-term debt12,970 11,816 
Less: Amount due within one year542 1,025 
Total long-term debt excluding amount due within one year$12,428 $10,791 
At December 31, 2020
Balance Outstanding at
December 31,
MaturityWeighted Average
Interest Rate		20202019
(in millions)
Mississippi Power
Senior notes2028-20424.23%$900 $1,175 
Pollution control revenue bonds(c)
2025-20281.86%76 83 
Other revenue bonds(e)
2021-20406.45%320 320 
Other long-term debt2021-20231.00%100 — 
Finance lease obligations(g)
19 — 
Unamortized debt premium (discount), net11 19 
Unamortized debt issuance expenses(7)(8)
Total long-term debt1,419 1,589 
Less: Amount due within one year406 281 
Total long-term debt excluding amount due within one year$1,013 $1,308 
Southern Power
Senior notes(a)
2021-20463.96%$3,714 $4,425 
Unamortized debt premium (discount), net(6)(8)
Unamortized debt issuance expenses(16)(19)
Total long-term debt3,692 4,398 
Less: Amount due within one year299 824 
Total long-term debt excluding amount due within one year$3,393 $3,574 
Southern Company Gas
Senior notes2021-20474.01%$4,200 $3,700 
First mortgage bonds(d)
2023-20603.71%1,900 1,575 
Medium-term notes2021-20277.88%160 160 
Unamortized fair value adjustment393 430 
Unamortized debt premium (discount), net(27)(20)
Total long-term debt6,626 5,845 
Less: Amount due within one year333 — 
Total long-term debt excluding amount due within one year$6,293 $5,845 
(a)Includes a fair value gain (loss) of $109 million and $(5) million at December 31, 2020 and 2019, respectively, related to Southern Power's foreign currency hedge on its €1.1 billion senior notes.
(b)Secured by a first priority lien on (i) Georgia Power's 45.7% undivided ownership interest in Plant Vogtle Units 3 and 4 (primarily the units under construction, the related real property, and any nuclear fuel loaded in the reactor core) and (ii) Georgia Power's rights and obligations under the principal contracts relating to Plant Vogtle Units 3 and 4. See "DOE Loan Guarantee Borrowings" for additional information.
(c)Pollution control revenue bond obligations represent loans to the traditional electric operating companies from public authorities of funds derived from sales by such authorities of revenue bonds issued to finance pollution control and solid waste disposal facilities. In some cases, the pollution control revenue bond obligations represent obligations under installment sales agreements with respect to facilities constructed with the proceeds of revenue bonds issued by public authorities. The traditional electric operating companies are required to make payments sufficient for the authorities to meet principal and interest requirements of such bonds. Proceeds from certain issuances are restricted until qualifying expenditures are incurred.
(d)Secured by substantially all of Nicor Gas' properties.
(e)At December 31, 2020 and 2019, Mississippi Power had $270 million aggregate principal amount outstanding of Mississippi Business Finance Corporation Taxable Revenue Bonds, 7.13% Series 1999A due October 20, 2021, which are secured by Plant Daniel Units 3 and 4 and certain related personal property. Mississippi Power assumed the obligations in 2011 in connection with its election under its operating lease of Plant Daniel Units 3 and 4 to purchase the assets and recorded the bonds at fair value. At December 31, 2020 and 2019, Mississippi Power also had $50 million of tax-exempt revenue bond obligations outstanding representing loans to Mississippi Power through the Mississippi Business Finance Corporation issued to finance a portion of the costs of constructing the Kemper County energy facility.
(f)Alabama Power has formed a wholly-owned trust subsidiary for the purpose of issuing preferred securities. The proceeds of the related equity investments and preferred security sales were loaned back to Alabama Power through the issuance of junior subordinated notes, which constitute substantially all of the assets of this trust. Alabama Power considers that the mechanisms and obligations relating to the preferred securities issued for its benefit, taken together, constitute a full and unconditional guarantee by it of the trust's payment obligations with respect to these securities. See Note 1 under "Variable Interest Entities" for additional information on the accounting treatment for this trust and the related securities.
(g)Secured by the underlying lease ROU asset. See Note 9 for additional information.
Schedule of maturities of long-term debt for the next five years
Maturities of long-term debt for the next five years are as follows:
Southern Company(a)
Alabama Power
Georgia
Power(b)
Mississippi Power(c)
Southern Power(d)
Southern Company
Gas
(in millions)
2021$3,506 $311 $542 $406 $300 $330 
20223,707 751 488 16 677 46 
20233,131 301 889 1 290 400 
2024509 22 491 1 — — 
20251,191 250 138 12 500 300 
(a)Amount for 2022 includes junior subordinated notes totaling $1.725 billion at the parent entity with final maturity dates in 2024 and 2027 (one half in each year); however, in connection with related stock purchase contracts, Southern Company has agreed to remarket the notes in 2022. See "Equity Units" herein for additional information. Also see notes (b), (c), and (d) below.
(b)Amounts include principal amortization related to the FFB borrowings; however, the final maturity date is February 20, 2044. See "DOE Loan Guarantee Borrowings" herein for additional information.
(c)Amount for 2021 includes $50 million and $25 million of long-term debt with final maturity dates in 2040 and 2023, respectively, that Mississippi Power intends to repay in 2021.
(d)Southern Power's 2022 maturity represents euro-denominated debt at the U.S. dollar denominated hedge settlement amount.
Summary of committed credit arrangements
At December 31, 2020, committed credit arrangements with banks were as follows:
Expires
Company2021202220232024TotalUnusedDue within
One Year
(in millions)
Southern Company parent$— $— $— $2,000 $2,000 $1,999 $— 
Alabama Power3 525 — 800 1,328 1,328 3 
Georgia Power— — — 1,750 1,750 1,728 — 
Mississippi Power— 150 125 — 275 250 — 
Southern Power(a)
— — — 600 600 591 — 
Southern Company Gas(b)
— — — 1,750 1,750 1,745 — 
SEGCO30 — — — 30 30 30 
Southern Company$33 $675 $125 $6,900 $7,733 $7,671 $33 
(a)Does not include Southern Power Company's $75 million and $60 million continuing letter of credit facilities for standby letters of credit expiring in 2023, of which $5 million and $11 million, respectively, was unused at December 31, 2020. In December 2020, Southern Power amended its $120 million letter of credit facility, which, among other things, extended the expiration date from 2021 to 2023 and reduced the amount to $75 million. Southern Power's subsidiaries are not parties to its bank credit arrangements or letter of credit facilities.
(b)Southern Company Gas, as the parent entity, guarantees the obligations of Southern Company Gas Capital, which is the borrower of $1.25 billion of this arrangement. Southern Company Gas' committed credit arrangement also includes $500 million for which Nicor Gas is the borrower and which is restricted for working capital needs of Nicor Gas. Pursuant to this multi-year credit arrangement, the allocations between Southern Company Gas Capital and Nicor Gas may be adjusted. See "Structural Considerations" herein for additional information.
Details of short-term borrowings Details of short-term borrowings for the applicable Registrants were as follows:
Notes Payable at December 31, 2020
Notes Payable at December 31, 2019
Amount
Outstanding		Weighted Average
Interest Rate		Amount
Outstanding		Weighted Average
Interest Rate
(in millions)(in millions)
Southern Company
Commercial paper$609 0.3 %$1,705 2.1 %
Short-term bank debt— — %350 2.3 %
Total$609 0.3 %$2,055 2.1 %
Georgia Power
Commercial paper$60 0.3 %$115 2.1 %
Short-term bank debt— — %250 2.2 %
Total$60 0.3 %$365 2.2 %
Mississippi Power
Commercial paper$25 0.4 %$— — %
Southern Power
Commercial paper$175 0.3 %$449 2.1 %
Short-term bank debt— — %100 2.6 %
Total$175 0.3 %$549 2.2 %
Southern Company Gas
Commercial paper:
Southern Company Gas Capital$220 0.3 %$372 2.1 %
Nicor Gas104 0.2 %278 1.8 %
Total$324 0.2 %$650 2.0 %
Shares used to compute diluted EPS Shares used to compute diluted EPS were as follows:
 Average Common Stock Shares
 202020192018
 (in millions)
As reported shares1,058 1,046 1,020 
Effect of stock-based compensation7 8 5 
Diluted shares1,065 1,054 1,025 
Schedule of preferred stock Information for each outstanding series is in the table below:
Preferred StockPar Value/Stated Capital Per ShareShares OutstandingRedemption
Price Per Share
4.92% Preferred Stock
$10080,000 $103.23
4.72% Preferred Stock
$10050,000 $102.18
4.64% Preferred Stock
$10060,000 $103.14
4.60% Preferred Stock
$100100,000 $104.20
4.52% Preferred Stock
$10050,000 $102.93
4.20% Preferred Stock
$100135,115 $105.00
5.00% Class A Preferred Stock
$2510,000,000 
$25.00(*)
(*)$25.50