Introduction (Tables)
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6 Months Ended |
Jun. 30, 2019 |
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| Organization, Consolidation and Presentation of Financial Statements [Abstract] |
|
| Schedule of Goodwill |
Goodwill at June 30, 2019 and December 31, 2018 was as follows: | | | | | | | | | At June 30, 2019 | At December 31, 2018 | | (in millions) | Southern Company | $ | 5,282 |
| $ | 5,315 |
| Southern Company Gas: | | | Gas distribution operations | $ | 4,034 |
| $ | 4,034 |
| Gas marketing services | 981 |
| 981 |
| Southern Company Gas total | $ | 5,015 |
| $ | 5,015 |
|
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| Schedule of Other Intangible Assets, Indefinite-Lived |
Other intangible assets were as follows: | | | | | | | | | | | | | | | | | | | | | | At June 30, 2019 | | At December 31, 2018 | | Gross Carrying Amount | Accumulated Amortization | Other Intangible Assets, Net | | Gross Carrying Amount | Accumulated Amortization | Other
Intangible Assets, Net | | (in millions) | | (in millions) | Southern Company | | | | | | | | Other intangible assets subject to amortization: | | | | | | | | Customer relationships | $ | 211 |
| $ | (105 | ) | $ | 106 |
| | $ | 223 |
| $ | (94 | ) | $ | 129 |
| Trade names | 70 |
| (23 | ) | 47 |
| | 70 |
| (21 | ) | 49 |
| Storage and transportation contracts | 64 |
| (58 | ) | 6 |
| | 64 |
| (54 | ) | 10 |
| PPA fair value adjustments | 371 |
| (60 | ) | 311 |
| | 405 |
| (61 | ) | 344 |
| Other | 12 |
| (7 | ) | 5 |
| | 11 |
| (5 | ) | 6 |
| Total other intangible assets subject to amortization | $ | 728 |
| $ | (253 | ) | $ | 475 |
|
| $ | 773 |
| $ | (235 | ) | $ | 538 |
| Other intangible assets not subject to amortization: | | | | | | | | Federal Communications Commission licenses | 75 |
| — |
| 75 |
| | 75 |
| — |
| 75 |
| Total other intangible assets | $ | 803 |
| $ | (253 | ) | $ | 550 |
| | $ | 848 |
| $ | (235 | ) | $ | 613 |
| | | | | | | | | Southern Power | | | | | | | | Other intangible assets subject to amortization: | | | | | | | | PPA fair value adjustments | $ | 371 |
| $ | (60 | ) | $ | 311 |
| | $ | 405 |
| $ | (61 | ) | $ | 344 |
| | | | | | | | | Southern Company Gas | | | | | | | | Other intangible assets subject to amortization: | | | | | | | | Gas marketing services | | | | | | | | Customer relationships | $ | 156 |
| $ | (95 | ) | $ | 61 |
| | $ | 156 |
| $ | (84 | ) | $ | 72 |
| Trade names | 26 |
| (8 | ) | 18 |
| | 26 |
| (7 | ) | 19 |
| Wholesale gas services | | | | | | | | Storage and transportation contracts | 64 |
| (58 | ) | 6 |
| | 64 |
| (54 | ) | 10 |
| Total other intangible assets subject to amortization | $ | 246 |
| $ | (161 | ) | $ | 85 |
| | $ | 246 |
| $ | (145 | ) | $ | 101 |
|
|
| Schedule of Other Intangible Assets, Finite-Lived |
Other intangible assets were as follows: | | | | | | | | | | | | | | | | | | | | | | At June 30, 2019 | | At December 31, 2018 | | Gross Carrying Amount | Accumulated Amortization | Other Intangible Assets, Net | | Gross Carrying Amount | Accumulated Amortization | Other
Intangible Assets, Net | | (in millions) | | (in millions) | Southern Company | | | | | | | | Other intangible assets subject to amortization: | | | | | | | | Customer relationships | $ | 211 |
| $ | (105 | ) | $ | 106 |
| | $ | 223 |
| $ | (94 | ) | $ | 129 |
| Trade names | 70 |
| (23 | ) | 47 |
| | 70 |
| (21 | ) | 49 |
| Storage and transportation contracts | 64 |
| (58 | ) | 6 |
| | 64 |
| (54 | ) | 10 |
| PPA fair value adjustments | 371 |
| (60 | ) | 311 |
| | 405 |
| (61 | ) | 344 |
| Other | 12 |
| (7 | ) | 5 |
| | 11 |
| (5 | ) | 6 |
| Total other intangible assets subject to amortization | $ | 728 |
| $ | (253 | ) | $ | 475 |
|
| $ | 773 |
| $ | (235 | ) | $ | 538 |
| Other intangible assets not subject to amortization: | | | | | | | | Federal Communications Commission licenses | 75 |
| — |
| 75 |
| | 75 |
| — |
| 75 |
| Total other intangible assets | $ | 803 |
| $ | (253 | ) | $ | 550 |
| | $ | 848 |
| $ | (235 | ) | $ | 613 |
| | | | | | | | | Southern Power | | | | | | | | Other intangible assets subject to amortization: | | | | | | | | PPA fair value adjustments | $ | 371 |
| $ | (60 | ) | $ | 311 |
| | $ | 405 |
| $ | (61 | ) | $ | 344 |
| | | | | | | | | Southern Company Gas | | | | | | | | Other intangible assets subject to amortization: | | | | | | | | Gas marketing services | | | | | | | | Customer relationships | $ | 156 |
| $ | (95 | ) | $ | 61 |
| | $ | 156 |
| $ | (84 | ) | $ | 72 |
| Trade names | 26 |
| (8 | ) | 18 |
| | 26 |
| (7 | ) | 19 |
| Wholesale gas services | | | | | | | | Storage and transportation contracts | 64 |
| (58 | ) | 6 |
| | 64 |
| (54 | ) | 10 |
| Total other intangible assets subject to amortization | $ | 246 |
| $ | (161 | ) | $ | 85 |
| | $ | 246 |
| $ | (145 | ) | $ | 101 |
|
|
| Finite-lived Intangible Assets Amortization Expense |
Amortization associated with other intangible assets was as follows: | | | | | | | | | Three Months Ended | Six Months Ended | | June 30, 2019 | | (in millions) | Southern Company | $ | 15 |
| $ | 32 |
| Southern Power(a) | $ | 4 |
| $ | 10 |
| Southern Company Gas |
|
| | Gas marketing services(b) | $ | 6 |
| $ | 12 |
| Wholesale gas services(a) | 2 |
| 4 |
| Southern Company Gas total | $ | 8 |
| $ | 16 |
|
| | (a) | Recorded as a reduction to operating revenues. |
(b) Included in depreciation and amortization.
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| Restrictions on Cash and Cash Equivalents |
The following tables provide a reconciliation of cash, cash equivalents, and restricted cash reported within the condensed balance sheets that total to the amounts shown in the condensed statements of cash flows for the registrants that had restricted cash at June 30, 2019 and/or December 31, 2018: | | | | | | | | | | Southern Company | | Southern Company Gas | | (in millions) | At June 30, 2019 | | | | Cash and cash equivalents | $ | 1,383 |
| | $ | 56 |
| Restricted cash: | | | | Other accounts and notes receivable | 4 |
| | 4 |
| Total cash, cash equivalents, and restricted cash | $ | 1,386 |
| (*) | $ | 60 |
|
| | (*) | Total does not add due to rounding. |
| | | | | | | | | | | | Southern Company | Georgia Power | Southern Company Gas | | (in millions) | At December 31, 2018 | | | | Cash and cash equivalents | $ | 1,396 |
| $ | 4 |
| $ | 64 |
| Cash and cash equivalents held for sale | 9 |
| — |
| — |
| Restricted cash: | | | | Restricted cash | — |
| 108 |
| — |
| Other accounts and notes receivable | 114 |
| — |
| 6 |
| Total cash, cash equivalents, and restricted cash | $ | 1,519 |
| $ | 112 |
| $ | 70 |
|
|
| Schedule of Cash and Cash Equivalents |
The following tables provide a reconciliation of cash, cash equivalents, and restricted cash reported within the condensed balance sheets that total to the amounts shown in the condensed statements of cash flows for the registrants that had restricted cash at June 30, 2019 and/or December 31, 2018: | | | | | | | | | | Southern Company | | Southern Company Gas | | (in millions) | At June 30, 2019 | | | | Cash and cash equivalents | $ | 1,383 |
| | $ | 56 |
| Restricted cash: | | | | Other accounts and notes receivable | 4 |
| | 4 |
| Total cash, cash equivalents, and restricted cash | $ | 1,386 |
| (*) | $ | 60 |
|
| | (*) | Total does not add due to rounding. |
| | | | | | | | | | | | Southern Company | Georgia Power | Southern Company Gas | | (in millions) | At December 31, 2018 | | | | Cash and cash equivalents | $ | 1,396 |
| $ | 4 |
| $ | 64 |
| Cash and cash equivalents held for sale | 9 |
| — |
| — |
| Restricted cash: | | | | Restricted cash | — |
| 108 |
| — |
| Other accounts and notes receivable | 114 |
| — |
| 6 |
| Total cash, cash equivalents, and restricted cash | $ | 1,519 |
| $ | 112 |
| $ | 70 |
|
|
| Details of AROs included in the balance sheets |
Details of the AROs included in the condensed balance sheets of Southern Company, Alabama Power, and Mississippi Power at June 30, 2019 are shown in the following table. There were no material changes in the AROs of Georgia Power or Southern Power during the first six months of 2019. | | | | | | | | | | | | Southern Company | Alabama Power | Mississippi Power | | (in millions) | Balance at December 31, 2018 | $ | 9,394 |
| $ | 3,210 |
| $ | 160 |
| Liabilities incurred | 6 |
| — |
| — |
| Liabilities settled | (142 | ) | (43 | ) | (17 | ) | Accretion | 197 |
| 70 |
| 2 |
| Cash flow revisions | 452 |
| 308 |
| 59 |
| Balance at June 30, 2019 | $ | 9,907 |
| $ | 3,545 |
| $ | 204 |
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