| Financial Data for Business Segments |
Financial data for business segments and products and services for the three and six months ended June 30, 2019 and 2018 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 June 30, 2019 | | | | | | | | Operating revenues | $ | 3,899 |
| $ | 510 |
| $ | (119 | ) | $ | 4,290 |
| $ | 689 |
| $ | 186 |
| $ | (67 | ) | $ | 5,098 |
| Segment net income (loss)(a)(b)(c)(d) | 782 |
| 174 |
| — |
| 956 |
| 106 |
| (154 | ) | (9 | ) | 899 |
| Six Months Ended June 30, 2019 | | | |
|
| | | | Operating revenues | $ | 7,343 |
| $ | 953 |
| $ | (211 | ) | $ | 8,085 |
| $ | 2,163 |
| $ | 368 |
| $ | (106 | ) | $ | 10,510 |
| Segment net income (loss)(a)(b)(c)(d) | 1,346 |
| 230 |
| — |
| 1,576 |
| 376 |
| 1,041 |
| (11 | ) | 2,982 |
| At June 30, 2019 | | | | | | | | | Goodwill | $ | — |
| $ | 2 |
| $ | — |
| $ | 2 |
| $ | 5,015 |
| $ | 265 |
| $ | — |
| $ | 5,282 |
| Total assets | 78,314 |
| 14,518 |
| (783 | ) | 92,049 |
| 20,761 |
| 3,343 |
| (1,286 | ) | 114,867 |
| Three Months Ended June 30, 2018 | | | | | | | | Operating revenues | $ | 4,124 |
| $ | 555 |
| $ | (114 | ) | $ | 4,565 |
| $ | 730 |
| $ | 381 |
| $ | (49 | ) | $ | 5,627 |
| Segment net income (loss)(a)(b)(d) | (48 | ) | 22 |
| — |
| (26 | ) | (31 | ) | (100 | ) | 3 |
| (154 | ) | Six Months Ended June 30, 2018 | | | | | | | | Operating revenues | $ | 8,104 |
| $ | 1,064 |
| $ | (220 | ) | $ | 8,948 |
| $ | 2,369 |
| $ | 782 |
| $ | (100 | ) | $ | 11,999 |
| Segment net income (loss)(a)(b)(d)(e) | 563 |
| 143 |
| — |
| 706 |
| 248 |
| (174 | ) | 4 |
| 784 |
| At December 31, 2018 | | | | | | | | | Goodwill | $ | — |
| $ | 2 |
| $ | — |
| $ | 2 |
| $ | 5,015 |
| $ | 298 |
| $ | — |
| $ | 5,315 |
| Total assets | 79,382 |
| 14,883 |
| (306 | ) | 93,959 |
| 21,448 |
| 3,285 |
| (1,778 | ) | 116,914 |
|
| | (a) | Attributable to Southern Company. |
| | (b) | Segment net income (loss) for the traditional electric operating companies includes pre-tax charges for estimated losses on plants under construction of $4 million ($3 million after tax) and $1.1 billion ($0.8 billion after tax) for the three months ended June 30, 2019 and 2018, respectively, and $6 million ($5 million after tax) and $1.1 billion ($0.8 billion after tax) for the six months ended June 30, 2019 and 2018, respectively. See Note 2 to the financial statements in Item 8 of the Form 10-K and Note (B) under "Georgia Power – Nuclear Construction" and "Mississippi Power – Kemper County Energy Facility" for additional information. |
| | (c) | Segment net income (loss) for the "All Other" column includes the preliminary pre-tax gain associated with the sale of Gulf Power of $2.5 billion ($1.3 billion after tax) for the six months ended June 30, 2019, of which $(15) million ($(11) million after tax) was recorded in the three months ended June 30, 2019, as well as a goodwill impairment charge of $32 million for the three and six months ended June 30, 2019 in contemplation of the sale of one of PowerSecure's business units. See Note (K) under "Southern Company" for additional information. |
| | (d) | Segment net income (loss) for Southern Power includes a $23 million pre-tax gain ($88 million gain after tax) on the sale of Plant Nacogdoches for the three and six months ended June 30, 2019 and a pre-tax impairment charge of $119 million ($89 million after tax) for the three and six months ended June 30, 2018 related to the sale of Southern Power's Florida Plants. See Note (K) under "Southern Power" and Note 15 to the financial statements in Item 8 of the Form 10-K under "Southern Power – Sale of Natural Gas Plants" for additional information. |
(e) Segment net income (loss) for Southern Company Gas includes a goodwill impairment charge of $42 million for the six months ended June 30, 2018 related to the sale of Pivotal Home Solutions. See Note 15 to the financial statements in Item 8 of the Form 10-K under "Southern Company Gas" for additional information. Business segment financial data for the three and six months ended June 30, 2019 and 2018 was as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | Gas Distribution Operations(a) | Gas Pipeline Investments | Wholesale Gas Services(b) | Gas Marketing Services(c)(d) | Total | All Other | Eliminations | Consolidated | | (in millions) | Three Months Ended June 30, 2019 | | | | | | | Operating revenues | $ | 568 |
| $ | 8 |
| $ | 48 |
| $ | 58 |
| $ | 682 |
| $ | 13 |
| $ | (6 | ) | $ | 689 |
| Segment net income (loss) | 58 |
| 25 |
| 23 |
| (3 | ) | 103 |
| 3 |
| — |
| 106 |
| Six Months Ended June 30, 2019 | | | | | | | Operating revenues | $ | 1,740 |
| $ | 16 |
| $ | 134 |
| $ | 287 |
| $ | 2,177 |
| $ | 24 |
| $ | (38 | ) | $ | 2,163 |
| Segment net income (loss) | 191 |
| 57 |
| 70 |
| 58 |
| 376 |
| — |
| — |
| 376 |
| Total assets at June 30, 2019 | 17,397 |
| 1,768 |
| 668 |
| 1,527 |
| 21,360 |
| 10,934 |
| (11,533 | ) | 20,761 |
| Three Months Ended June 30, 2018 | | | | | | | Operating revenues | $ | 643 |
| $ | 8 |
| $ | (16 | ) | $ | 89 |
| $ | 724 |
| $ | 11 |
| $ | (5 | ) | $ | 730 |
| Segment net income (loss) | 68 |
| 21 |
| (21 | ) | (76 | ) | (8 | ) | (23 | ) | — |
| (31 | ) | Six Months Ended June 30, 2018 | | | | | | | | Operating revenues | $ | 1,856 |
| $ | 16 |
| $ | 150 |
| $ | 359 |
| $ | 2,381 |
| $ | 26 |
| $ | (38 | ) | $ | 2,369 |
| Segment net income (loss) | 216 |
| 48 |
| 83 |
| (63 | ) | 284 |
| (36 | ) | — |
| 248 |
| Total assets at December 31, 2018 | 17,266 |
| 1,763 |
| 1,302 |
| 1,587 |
| 21,918 |
| 11,112 |
| (11,582 | ) | 21,448 |
|
| | (a) | Operating revenues for the three gas distribution operations dispositions were $70 million and $237 million for the three and six months ended June 30, 2018, respectively. See Note 15 to the financial statements in Item 8 of the Form 10-K under "Southern Company Gas" for additional information. |
| | (b) | The revenues for wholesale gas services are 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 June 30, 2019 | $ | 1,223 |
| $ | 63 |
| $ | 1,286 |
| $ | 1,238 |
| $ | 48 |
| Three Months Ended June 30, 2018 | 1,336 |
| 102 |
| 1,438 |
| 1,454 |
| (16 | ) | Six Months Ended June 30, 2019 | $ | 3,148 |
| $ | 151 |
| $ | 3,299 |
| $ | 3,165 |
| $ | 134 |
| Six Months Ended June 30, 2018 | 3,274 |
| 269 |
| 3,543 |
| 3,393 |
| 150 |
|
| | (c) | Operating revenues for Pivotal Home Solutions were $24 million and $55 million for the three and six months ended June 30, 2018, respectively. See Note 15 to the financial statements in Item 8 of the Form 10-K under "Southern Company Gas" for additional information on the sale of Pivotal Home Solutions. |
(d) Segment net income (loss) for gas marketing services includes a loss on disposition of $36 million for the three and six months ended June 30, 2018 and a goodwill impairment charge of $42 million for the six months ended June 30, 2018 related to the sale of Pivotal Home Solutions. See Note 15 to the financial statements in Item 8 of the Form 10-K under "Southern Company Gas" for additional information.
|
| Financial Data for Products and Services |
Products and Services | | | | | | | | | | | | | | | Electric Utilities' Revenues | | Retail | Wholesale | Other | Total | | (in millions) | Three Months Ended June 30, 2019 | $ | 3,540 |
| $ | 542 |
| $ | 208 |
| $ | 4,290 |
| Three Months Ended June 30, 2018 | 3,740 |
| 616 |
| 209 |
| 4,565 |
| Six Months Ended June 30, 2019 | $ | 6,623 |
| $ | 1,041 |
| $ | 421 |
| $ | 8,085 |
| Six Months Ended June 30, 2018 | 7,308 |
| 1,239 |
| 401 |
| 8,948 |
|
| | | | | | | | | | | | | | | Southern Company Gas' Revenues | | Gas
Distribution
Operations(a) | Gas
Marketing
Services(b) | Other | Total | | (in millions) | Three Months Ended June 30, 2019 | $ | 563 |
| $ | 58 |
| $ | 68 |
| $ | 689 |
| Three Months Ended June 30, 2018 | 638 |
| 89 |
| 3 |
| 730 |
| Six Months Ended June 30, 2019 | $ | 1,724 |
| $ | 287 |
| $ | 152 |
| $ | 2,163 |
| Six Months Ended June 30, 2018 | 1,838 |
| 359 |
| 172 |
| 2,369 |
|
| | (a) | Operating revenues for the three gas distribution operations dispositions were $70 million and $237 million for the three and six months ended June 30, 2018, respectively. |
(b) Operating revenues for Pivotal Home Solutions were $24 million and $55 million for the three and six months ended June 30, 2018, respectively.
|