v3.19.2
Financing (Tables)
 6 Months Ended
Jun. 30, 2019
Debt Disclosure [Abstract]  
Credit Arrangements by Company
The following table outlines the committed credit arrangements by company as of June 30, 2019:
 
Expires
 
 
 
Company
2019
2020
2022
2024
 
Total
 
Unused
Due within One Year
 
(in millions)
Southern Company(a)
$
—

$
—

$
—

$
2,000

 
$
2,000

 
$
1,999

$
—

Alabama Power
3

500

—

800

 
1,303

 
1,303

3

Georgia Power
—

—

—

1,750

 
1,750

 
1,736

—

Mississippi Power
—

—

150

—

 
150

 
150

—

Southern Power(b)
—

—

—

600

 
600

 
561

—

Southern Company Gas(c)
—

—

—

1,750

 
1,750

 
1,745

—

Other
—

30

—

—

 
30

 
30

30

Southern Company Consolidated
$
3

$
530

$
150

$
6,900

 
$
7,583

 
$
7,524

$
33


(a)
Represents the Southern Company parent entity.
(b)
Does not include Southern Power Company's $120 million continuing letter of credit facility for standby letters of credit expiring in 2021, of which $30 million was unused at June 30, 2019. Southern Power's subsidiaries are not parties to its bank credit arrangement.
(c)
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.
Schedule of Long-term Debt Financing Activities
The following table outlines the long-term debt financing activities for Southern Company and its subsidiaries for the first six months of 2019:
Company
Senior Note Maturities, Redemptions, and Repurchases
 
Revenue Bond
Issuances and
Reofferings
of Purchased
Bonds
 
Revenue Bond
Maturities, Redemptions,
and
Repurchases
 
Other
Long-Term
Debt
Issuances
 
Other Long-Term Debt Redemptions
and Maturities(a)
 
(in millions)
Southern Company(b)
$
2,100

 
$
—

 
$
—

 
$
—

 
$
—

Alabama Power
200

 
—

 
—

 
—

 
—

Georgia Power
—

 
513

 
223

 
835

 
3

Mississippi Power
—

 
43

 
—

 
—

 
—

Other
—

 
—

 
25

 
—

 
9

Southern Company Consolidated
$
2,300

 
$
556

 
$
248

 
$
835

 
$
12

(a)
Includes reductions in finance lease obligations resulting from cash payments under finance leases.
(b)
Represents the Southern Company parent entity.
Shares Used to Compute Diluted Earnings Per Share Shares used to compute diluted earnings per share were as follows:
 
Three Months Ended June 30, 2019
Three Months Ended June 30, 2018
Six Months Ended June 30, 2019
Six Months Ended June 30, 2018
 
(in millions)
As reported shares
1,044

1,014

1,041

1,012

Effect of stock-based compensation
8

—

8

5

Diluted shares
1,052

1,014

1,049

1,017