XML 59 R6.htm IDEA: XBRL DOCUMENT v3.20.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Operating Activities:      
Consolidated net income $ 3,103,000 $ 4,744,000 $ 2,300,000
Adjustments to reconcile consolidated net income to net cash provided from operating activities —      
Depreciation and amortization, total 3,905,000 3,331,000 3,549,000
Deferred income taxes (241,000) 611,000 89,000
Utilization of federal investment tax credits 341,000 757,000 5,000
Amortization of investment tax credits (84,000) (181,000) (87,000)
Allowance for equity funds used during construction (149,000) (128,000) (138,000)
Pension, postretirement, and other employee benefits (259,000) (204,000) (103,000)
Pension and postretirement funding (2,000) (1,136,000) (4,000)
Settlement of asset retirement obligations (442,000) (328,000) (244,000)
Storm damage accruals 325,000 168,000 74,000
Stock based compensation expense 113,000 107,000 125,000
Estimated loss on Plant Vogtle Units 3 and 4 325,000 0 1,060,000
Impairment charges 206,000 168,000 210,000
Impairment charges 0 168,000 210,000
(Gain) loss on dispositions, net (66,000) (2,588,000) (301,000)
Other, net (74,000) 115,000 47,000
Changes in certain current assets and liabilities —      
-Receivables (222,000) 630,000 (426,000)
-Fossil fuel for generation (29,000) (120,000) 123,000
-Materials and supplies (157,000) (17,000) (176,000)
-Other current assets (132,000) 132,000 98,000
-Accounts payable (27,000) (693,000) 291,000
-Accrued taxes 242,000 117,000 267,000
-Retail fuel cost over recovery 96,000 62,000 36,000
-Customer refunds (236,000) 126,000 67,000
-Other current liabilities 76,000 (73,000) (4,000)
Net cash provided from operating activities 6,696,000 5,781,000 6,945,000
Investing Activities:      
Business acquisitions, net of cash acquired (81,000) (50,000) (65,000)
Property additions (7,441,000) (7,555,000) (8,001,000)
Nuclear decommissioning trust fund purchases (877,000) (888,000) (1,117,000)
Nuclear decommissioning trust fund sales 871,000 882,000 1,111,000
Proceeds from dispositions and asset sales 1,049,000 5,122,000 2,956,000
Cost of removal, net of salvage (361,000) (393,000) (388,000)
Change in construction payables, net 37,000 (169,000) 50,000
Investments in unconsolidated subsidiaries (80,000) (148,000) (114,000)
Payments pursuant to LTSAs (211,000) (234,000) (186,000)
Other investing activities 64,000 41,000 (6,000)
Net cash used for investing activities (7,030,000) (3,392,000) (5,760,000)
Financing Activities:      
Increase (decrease) in notes payable, net   640,000  
Increase (decrease) in notes payable, net (1,096,000)   (774,000)
Proceeds —      
Long-term debt 8,047,000 5,220,000 2,478,000
Common stock 74,000 844,000 1,090,000
Short-term borrowings 615,000 350,000 3,150,000
Redemptions and repurchases —      
Long-term debt (4,458,000) (4,347,000) (5,533,000)
Preferred and preference stock 0 0 (33,000)
Short-term borrowings (840,000) (1,850,000) (1,900,000)
Distributions to noncontrolling interests (271,000) (256,000) (153,000)
Capital contributions from noncontrolling interests 363,000 196,000 2,551,000
Payment of common stock dividends (2,685,000) (2,570,000) (2,425,000)
Other financing activities (325,000) (157,000) (264,000)
Net cash used for financing activities (576,000) (1,930,000) (1,813,000)
Net Change in Cash, Cash Equivalents, and Restricted Cash (910,000) 459,000 (628,000)
Cash, Cash Equivalents, and Restricted Cash at Beginning of Year 1,978,000 1,519,000 2,147,000
Cash, Cash Equivalents, and Restricted Cash at End of Year 1,068,000 1,978,000 1,519,000
Supplemental Cash Flow Information:      
Interest, net of amounts capitalized 1,683,000 1,651,000 1,794,000
Income taxes (net of refunds) 64,000 276,000 172,000
Noncash transactions —      
Accrued property additions at year-end 989,000 932,000 1,103,000
Alabama Power      
Operating Activities:      
Consolidated net income 1,165,000 1,085,000 945,000
Adjustments to reconcile consolidated net income to net cash provided from operating activities —      
Depreciation and amortization, total 963,000 951,000 917,000
Deferred income taxes 78,000 197,000 174,000
Allowance for equity funds used during construction (46,000) (52,000) (62,000)
Pension and postretirement funding (2,000) (362,000) (4,000)
Settlement of asset retirement obligations (219,000) (127,000) (55,000)
Natural disaster reserve accruals 112,000 138,000 16,000
Other deferred charges – affiliated 0 (42,000) 0
Other, net (38,000) (91,000) (17,000)
Changes in certain current assets and liabilities —      
-Receivables (49,000) 9,000 (149,000)
-Materials and supplies (47,000) 23,000 (82,000)
-Other current assets (66,000) (89,000) 28,000
-Accounts payable (90,000) (41,000) 24,000
-Accrued taxes 84,000 49,000 10,000
-Retail fuel cost over recovery (31,000) 47,000 0
-Customer refunds (12,000) 30,000 114,000
-Other current liabilities (28,000) 68,000 14,000
-Accrued compensation (32,000) (14,000) 8,000
Net cash provided from operating activities 1,742,000 1,779,000 1,881,000
Investing Activities:      
Property additions (1,970,000) (1,757,000) (2,158,000)
Nuclear decommissioning trust fund purchases (268,000) (261,000) (279,000)
Nuclear decommissioning trust fund sales 267,000 260,000 278,000
Cost of removal, net of salvage (98,000) (103,000) (130,000)
Change in construction payables, net (34,000) (71,000) 26,000
Other investing activities (19,000) (31,000) (26,000)
Net cash used for investing activities (2,122,000) (1,963,000) (2,289,000)
Proceeds —      
Senior notes 600,000 600,000 500,000
Pollution control revenue bonds 87,000 0 120,000
Capital contributions from parent company 653,000 1,240,000 511,000
Redemptions and repurchases —      
Senior notes (250,000) (200,000) 0
Pollution control revenue bonds (87,000) 0 (120,000)
Payment of common stock dividends (957,000) (844,000) (801,000)
Other financing activities (30,000) (31,000) (33,000)
Net cash used for financing activities 16,000 765,000 177,000
Net Change in Cash, Cash Equivalents, and Restricted Cash (364,000) 581,000 (231,000)
Cash, Cash Equivalents, and Restricted Cash at Beginning of Year 894,000 313,000 544,000
Cash, Cash Equivalents, and Restricted Cash at End of Year 530,000 894,000 313,000
Supplemental Cash Flow Information:      
Interest, net of amounts capitalized 321,000 311,000 284,000
Income taxes (net of refunds) 187,000 26,000 106,000
Noncash transactions —      
Accrued property additions at year-end 166,000 200,000 272,000
Georgia Power      
Operating Activities:      
Consolidated net income 1,575,000 1,720,000 793,000
Adjustments to reconcile consolidated net income to net cash provided from operating activities —      
Depreciation and amortization, total 1,607,000 1,193,000 1,142,000
Deferred income taxes (273,000) 179,000 (260,000)
Allowance for equity funds used during construction (91,000) (68,000) (69,000)
Pension, postretirement, and other employee benefits (137,000) (146,000) (75,000)
Pension and postretirement funding 0 (200,000) 0
Settlement of asset retirement obligations (185,000) (151,000) (116,000)
Retail fuel cost over recovery – long-term (73,000) 73,000 0
Storm damage accruals 213,000 30,000 30,000
Other deferred charges – affiliated 0 (108,000) 0
Estimated loss on Plant Vogtle Units 3 and 4 325,000 0 1,060,000
Other, net 14,000 50,000 18,000
Changes in certain current assets and liabilities —      
-Receivables (114,000) 177,000 8,000
-Fossil fuel for generation (6,000) (41,000) 83,000
-Materials and supplies (91,000) (4,000) (19,000)
-Other current assets (48,000) (15,000) (24,000)
-Accounts payable 59,000 (92,000) 95,000
-Accrued taxes 55,000 58,000 58,000
-Retail fuel cost over recovery 113,000 0 0
-Customer refunds (223,000) 116,000 (69,000)
-Other current liabilities 64,000 34,000 (38,000)
-Prepaid income taxes 0 102,000 152,000
Net cash provided from operating activities 2,784,000 2,907,000 2,769,000
Investing Activities:      
Property additions (3,445,000) (3,510,000) (3,116,000)
Nuclear decommissioning trust fund purchases (609,000) (628,000) (839,000)
Nuclear decommissioning trust fund sales 604,000 622,000 833,000
Cost of removal, net of salvage (143,000) (186,000) (107,000)
Payments pursuant to LTSAs (86,000) (81,000) (54,000)
Change in construction payables, net of joint owner portion 16,000 (122,000) 68,000
Proceeds from dispositions and asset sales 153,000 14,000 138,000
Other investing activities 7,000 6,000 (32,000)
Net cash used for investing activities (3,503,000) (3,885,000) (3,109,000)
Financing Activities:      
Increase (decrease) in notes payable, net     294,000
Increase (decrease) in notes payable, net (55,000) (179,000)  
Proceeds —      
FFB loan 848,000 1,218,000 0
Short-term borrowings 250,000 250,000 0
Senior notes 1,500,000 750,000 0
Pollution control revenue bonds 53,000 584,000 108,000
Capital contributions from parent company 1,392,000 634,000 2,985,000
Redemptions and repurchases —      
FFB loan (73,000) 0 0
Short-term borrowings (375,000) 0 (150,000)
Senior notes (950,000) (500,000) (1,500,000)
Pollution control revenue bonds (336,000) (223,000) (469,000)
Other long-term debt 0 0 (100,000)
Payment of common stock dividends (1,542,000) (1,576,000) (1,396,000)
Premiums on redemption and repurchases of senior notes 0 0 (152,000)
Other financing activities (36,000) (40,000) (20,000)
Net cash used for financing activities 676,000 918,000 (400,000)
Net Change in Cash, Cash Equivalents, and Restricted Cash (43,000) (60,000) (740,000)
Cash, Cash Equivalents, and Restricted Cash at Beginning of Year 52,000 112,000 852,000
Cash, Cash Equivalents, and Restricted Cash at End of Year 9,000 52,000 112,000
Supplemental Cash Flow Information:      
Interest, net of amounts capitalized 380,000 373,000 408,000
Income taxes (net of refunds) 373,000 110,000 300,000
Noncash transactions —      
Accrued property additions at year-end 553,000 560,000 683,000
Mississippi Power      
Operating Activities:      
Consolidated net income 152,000 139,000 236,000
Adjustments to reconcile consolidated net income to net cash provided from operating activities —      
Depreciation and amortization, total 191,000 197,000 177,000
Deferred income taxes (4,000) 37,000 475,000
Pension and postretirement funding 0 (54,000) 0
Settlement of asset retirement obligations (22,000) (35,000) (35,000)
Other, net (1,000) 35,000 51,000
Changes in certain current assets and liabilities —      
-Receivables (7,000) 6,000 (19,000)
-Other current assets (28,000) (8,000) (10,000)
-Accounts payable 20,000 3,000 15,000
-Accrued taxes 10,000 11,000 (46,000)
-Other current liabilities (15,000) (20,000) (42,000)
-Prepaid income taxes (3,000) 12,000 (12,000)
-Over recovered regulatory clause revenues 5,000 16,000 14,000
Net cash provided from operating activities 298,000 339,000 804,000
Investing Activities:      
Property additions (274,000) (202,000) (188,000)
Payments pursuant to LTSAs (28,000) (23,000) (29,000)
Other investing activities (21,000) (38,000) (15,000)
Net cash used for investing activities (323,000) (263,000) (232,000)
Financing Activities:      
Increase (decrease) in notes payable, net 25,000    
Increase (decrease) in notes payable, net   0 (4,000)
Proceeds —      
Short-term borrowings 40,000 0 300,000
Senior notes 0 0 600,000
Pollution control revenue bonds 34,000 43,000 0
Other long-term debt 100,000 0 0
Capital contributions from parent company 85,000 51,000 15,000
Redemptions and repurchases —      
Preferred and preference stock 0 0 (33,000)
Short-term borrowings (40,000) 0 (300,000)
Senior notes (275,000) (25,000) (155,000)
Pollution control revenue bonds (41,000) 0 (43,000)
Other long-term debt 0 0 (900,000)
Return of capital to parent company (74,000) (150,000) 0
Payment of common stock dividends (74,000) 0 0
Other financing activities (2,000) (2,000) (7,000)
Net cash used for financing activities (222,000) (83,000) (527,000)
Net Change in Cash, Cash Equivalents, and Restricted Cash (247,000) (7,000) 45,000
Cash, Cash Equivalents, and Restricted Cash at Beginning of Year 286,000 293,000 248,000
Cash, Cash Equivalents, and Restricted Cash at End of Year 39,000 286,000 293,000
Supplemental Cash Flow Information:      
Interest, net of amounts capitalized 63,000 71,000 80,000
Income taxes (net of refunds) 28,000 (27,000) (525,000)
Noncash transactions —      
Accrued property additions at year-end 34,000 35,000 35,000
Southern Power      
Operating Activities:      
Consolidated net income 207,000 329,000 246,000
Adjustments to reconcile consolidated net income to net cash provided from operating activities —      
Depreciation and amortization, total 519,000 505,000 524,000
Deferred income taxes (25,000) (74,000) (244,000)
Utilization of federal investment tax credits 340,000 734,000 5,000
Amortization of investment tax credits (59,000) (151,000) (58,000)
Pension and postretirement funding 0 (24,000) 0
Income taxes receivable, non-current (20,000) 25,000 42,000
Impairment charges 0 3,000 156,000
(Gain) loss on dispositions, net (39,000) (24,000) (3,000)
Other, net (5,000) (9,000) (4,000)
Changes in certain current assets and liabilities —      
-Receivables (4,000) 72,000 (20,000)
-Other current assets (30,000) (8,000) (26,000)
-Accrued taxes 11,000 6,000 7,000
-Other current liabilities (14,000) (38,000) (19,000)
-Prepaid income taxes 20,000 39,000 25,000
Net cash provided from operating activities 901,000 1,385,000 631,000
Investing Activities:      
Business acquisitions, net of cash acquired (81,000) (50,000) (65,000)
Property additions (223,000) (489,000) (315,000)
Proceeds from dispositions and asset sales 666,000 572,000 203,000
Investments in unconsolidated subsidiaries 0 (116,000) 0
Payments pursuant to LTSAs (76,000) (104,000) (75,000)
Other investing activities 88,000 20,000 25,000
Net cash used for investing activities 374,000 (167,000) (227,000)
Financing Activities:      
Increase (decrease) in notes payable, net   449,000  
Increase (decrease) in notes payable, net (274,000)   (105,000)
Proceeds —      
Short-term borrowings 0 100,000 200,000
Capital contributions from parent company 6,000 64,000 2,000
Redemptions and repurchases —      
Short-term borrowings (100,000) (100,000) (100,000)
Senior notes (825,000) (600,000) (350,000)
Other long-term debt 0 0 (420,000)
Return of capital to parent company 0 (755,000) (1,650,000)
Distributions to noncontrolling interests (271,000) (256,000) (153,000)
Capital contributions from noncontrolling interests 363,000 196,000 2,551,000
Purchase of membership interests from noncontrolling interests (60,000) 0 0
Payment of common stock dividends (201,000) (206,000) (312,000)
Other financing activities (10,000) (12,000) (26,000)
Net cash used for financing activities (1,372,000) (1,120,000) (363,000)
Net Change in Cash, Cash Equivalents, and Restricted Cash (97,000) 98,000 41,000
Cash, Cash Equivalents, and Restricted Cash at Beginning of Year 279,000 181,000 140,000
Cash, Cash Equivalents, and Restricted Cash at End of Year 182,000 279,000 181,000
Supplemental Cash Flow Information:      
Interest, net of amounts capitalized 147,000 167,000 173,000
Income taxes (net of refunds) (283,000) (664,000) 79,000
Noncash transactions —      
Accrued property additions at year-end 89,000 57,000 31,000
Southern Company Gas      
Operating Activities:      
Consolidated net income 590,000 585,000 372,000
Adjustments to reconcile consolidated net income to net cash provided from operating activities —      
Depreciation and amortization, total 500,000 487,000 500,000
Deferred income taxes 56,000 213,000 (1,000)
Pension and postretirement funding 0 (145,000) 0
Impairment charges 0 115,000 42,000
(Gain) loss on dispositions, net (22,000) 0 (291,000)
Mark-to-market adjustments 61,000 (56,000) (19,000)
Other, net (29,000) (55,000) (24,000)
Changes in certain current assets and liabilities —      
-Receivables (93,000) 467,000 (218,000)
-Natural gas for sale 18,000 44,000 49,000
-Other current assets (10,000) 31,000 4,000
-Accounts payable 103,000 (520,000) 372,000
-Accrued taxes 13,000 (69,000) 10,000
-Other current liabilities (6,000) (71,000) (22,000)
-Prepaid income taxes 19,000 40,000 (42,000)
-Accrued compensation 7,000 1,000 32,000
Net cash provided from operating activities 1,207,000 1,067,000 764,000
Investing Activities:      
Property additions (1,471,000) (1,408,000) (1,388,000)
Proceeds from dispositions and asset sales 211,000 32,000 2,609,000
Cost of removal, net of salvage (100,000) (82,000) (96,000)
Change in construction payables, net 20,000 24,000 (37,000)
Investments in unconsolidated subsidiaries (79,000) (31,000) (110,000)
Returned investment in unconsolidated subsidiaries 13,000 67,000 20,000
Other investing activities (11,000) 12,000 0
Net cash used for investing activities (1,417,000) (1,386,000) 998,000
Financing Activities:      
Increase (decrease) in notes payable, net (326,000) 0 (868,000)
Proceeds —      
First mortgage bonds 325,000 300,000 300,000
Senior notes 500,000 0 0
Capital contributions from parent company 216,000 821,000 24,000
Redemptions and repurchases —      
Gas facility revenue bonds 0 0 (200,000)
Senior notes 0 (300,000) (155,000)
First mortgage bonds 0 (50,000) 0
Return of capital to parent company 0 0 (400,000)
Payment of common stock dividends (533,000) (471,000) (468,000)
Other financing activities (2,000) (2,000) (3,000)
Net cash used for financing activities 180,000 298,000 (1,770,000)
Net Change in Cash, Cash Equivalents, and Restricted Cash (30,000) (21,000) (8,000)
Cash, Cash Equivalents, and Restricted Cash at Beginning of Year 49,000 70,000 78,000
Cash, Cash Equivalents, and Restricted Cash at End of Year 19,000 49,000 70,000
Supplemental Cash Flow Information:      
Interest, net of amounts capitalized 232,000 251,000 249,000
Income taxes (net of refunds) 25,000 (41,000) 524,000
Noncash transactions —      
Accrued property additions at year-end $ 142,000 $ 122,000 $ 97,000