Segment and Related Information (Tables)

3 Months Ended

Mar. 31, 2022

Schedule of Financial Data for Business Segments

Financial data for business segments and products and services for the three months ended March 31, 2022 and 2021 was as follows:


	Electric Utilities
	Traditional Electric Operating Companies		Southern Power		Eliminations		Total		Southern Company Gas		All Other		Eliminations		Consolidated
	(in millions)



Three Months Ended March 31, 2022
Operating revenues	$	4,191	$	539	$	(221)	$	4,509	$	2,058	$	123	$	(42)	$	6,648
Segment net income (loss)(a)	774		72		—		846		319		(125)		(8)		1,032
At March 31, 2022
Goodwill	$	—	$	2	$	—	$	2	$	5,015	$	263	$	—	$	5,280
Total assets	90,460		13,766		(627)		103,599		23,377		4,236		(2,573)		128,639



Three Months Ended March 31, 2021
Operating revenues	$	3,764	$	440	$	(87)	$	4,117	$	1,694	$	134	$	(35)	$	5,910
Segment net income (loss)(a)(b)(c)	756		97		—		853		398		(108)		(8)		1,135
At December 31, 2021
Goodwill	$	—	$	2	$	—	$	2	$	5,015	$	263	$	—	$	5,280
Total assets	89,051		13,390		(667)		101,774		23,560		2,975		(775)		127,534

(a)Attributable to Southern Company.

(b)For the traditional electric operating companies, includes a pre-tax charge of $48 million ($36 million after tax) at Georgia Power for estimated losses associated with the construction of Plant Vogtle Units 3 and 4. See Note (B) and Note 2 to the financial statements in Item 8 of the Form 10-K under "Georgia Power – Nuclear Construction" for additional information.

(c)For Southern Power, includes gains on wind turbine equipment contributed to various equity method investments totaling approximately $37 million pre-tax ($28 million after tax). See Note 15 to the financial statements under "Southern Power – Development Projects" in Item 8 of the Form 10-K for additional information.

Business segment financial data for the three months ended March 31, 2022 and 2021 was as follows:


	Gas Distribution Operations		Gas Pipeline Investments		Wholesale Gas Services(*)		Gas Marketing Services		Total		All Other		Eliminations		Consolidated
	(in millions)



Three Months Ended March 31, 2022
Operating revenues	$	1,803	$	8	$	—	$	243	$	2,054	$	16	$	(12)	$	2,058
Segment net income (loss)	214		29		—		66		309		10		—		319
Total assets at March 31, 2022	21,034		1,473		—		1,640		24,147		12,017		(12,787)		23,377



Three Months Ended March 31, 2021
Operating revenues	$	1,200	$	8	$	298	$	195	$	1,701	$	7	$	(14)	$	1,694
Segment net income (loss)	183		29		126		56		394		4		—		398
Total assets at December 31, 2021	20,917		1,467		31		1,556		23,971		12,114		(12,525)		23,560

(*)As a result of the sale of Sequent, wholesale gas services is no longer a reportable segment for the three months ended March 31, 2022. Prior to the sale of Sequent, the revenues for wholesale gas services were netted with costs associated with its energy and risk management activities. A reconciliation of operating revenues and intercompany revenues is shown in the following table.


	Third Party Gross Revenues		Intercompany Revenues		Total Gross Revenues		Less Gross Gas Costs		Operating Revenues
	(in millions)



Three Months Ended March 31, 2021	$	2,588	$	63	$	2,651	$	2,353	$	298

Schedule of Financial Data for Products and Services


	Electric Utilities' Revenues
	Retail		Wholesale		Other		Total
	(in millions)


Three Months Ended March 31, 2022	$	3,613	$	664	$	232	$	4,509
Three Months Ended March 31, 2021	3,342		545		230		4,117


	Southern Company Gas' Revenues
	Gas Distribution Operations		Wholesale Gas Services(*)		Gas Marketing Services		Other		Total
	(in millions)


Three Months Ended March 31, 2022	$	1,791	$	—	$	243	$	24	$	2,058
Three Months Ended March 31, 2021	1,192		298		195		9		1,694

(*)Prior to the sale of Sequent, the revenues for wholesale gas services were netted with costs associated with its energy and risk management activities. See "Southern Company Gas" herein and Note 15 to the financial statements under "Southern Company Gas" in Item 8 of the Form 10-K for additional information.