| Financial Data for Business Segments |
Financial data for business segments and products and services for the three and six months ended June 30, 2020 and 2019 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, 2020 | | | | | | | | Operating revenues | $ | 3,539 |
| $ | 439 |
| $ | (94 | ) | $ | 3,884 |
| $ | 636 |
| $ | 135 |
| $ | (35 | ) | $ | 4,620 |
| Segment net income (loss)(a)(b)(c) | 645 |
| 63 |
| — |
| 708 |
| 71 |
| (177 | ) | 10 |
| 612 |
| Six Months Ended June 30, 2020 | | | |
|
| | | | Operating revenues | $ | 6,946 |
| $ | 814 |
| $ | (181 | ) | $ | 7,579 |
| $ | 1,885 |
| $ | 248 |
| $ | (74 | ) | $ | 9,638 |
| Segment net income (loss)(a)(b)(c)(d) | 1,287 |
| 138 |
| — |
| 1,425 |
| 346 |
| (299 | ) | 8 |
| 1,480 |
| At June 30, 2020 | | | | | | | | | Goodwill | $ | — |
| $ | 2 |
| $ | — |
| $ | 2 |
| $ | 5,015 |
| $ | 263 |
| $ | — |
| $ | 5,280 |
| Total assets | 83,158 |
| 13,557 |
| (713 | ) | 96,002 |
| 21,500 |
| 3,325 |
| (1,096 | ) | 119,731 |
| Three Months Ended June 30, 2019 | | | | | | | | Operating revenues | $ | 3,899 |
| $ | 510 |
| $ | (119 | ) | $ | 4,290 |
| $ | 689 |
| $ | 186 |
| $ | (67 | ) | $ | 5,098 |
| Segment net income (loss)(a)(e)(f) | 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)(e)(f) | 1,346 |
| 230 |
| — |
| 1,576 |
| 376 |
| 1,041 |
| (11 | ) | 2,982 |
| At December 31, 2019 | | | | | | | | | Goodwill | $ | — |
| $ | 2 |
| $ | — |
| $ | 2 |
| $ | 5,015 |
| $ | 263 |
| $ | — |
| $ | 5,280 |
| Total assets | 81,063 |
| 14,300 |
| (713 | ) | 94,650 |
| 21,687 |
| 3,511 |
| (1,148 | ) | 118,700 |
|
| | (a) | Attributable to Southern Company. |
| | (b) | Segment net income (loss) for the traditional electric operating companies includes a pre-tax charge of $149 million ($111 million after tax) related to Plant Vogtle Units 3 and 4 for the three and six months ended June 30, 2020. See Note (B) under "Georgia Power – Nuclear Construction" for additional information. |
| | (c) | Segment net income (loss) for the "All Other" column includes a pre-tax impairment charge of $154 million ($74 million after tax) related to a leveraged lease investment for the three and six months ended June 30, 2020. See Note (C) under "Other Matters – Southern Company" for additional information. |
| | (d) | Segment net income (loss) for Southern Power includes a $39 million pre-tax gain ($23 million gain after tax) on the sale of Plant Mankato for the six months ended June 30, 2020. See Note (K) under "Southern Power" for additional information. |
| | (e) | 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 15 to the financial statements in Item 8 of the Form 10-K under "Southern Company" for additional information. |
(f) 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. See Note 15 to the financial statements in Item 8 of the Form 10-K under "Southern Power – Sale of Natural Gas and Biomass Plants" for additional information. Business segment financial data for the three and six months ended June 30, 2020 and 2019 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 June 30, 2020 | | | | | | | Operating revenues | $ | 587 |
| $ | 8 |
| $ | (19 | ) | $ | 56 |
| $ | 632 |
| $ | 8 |
| $ | (4 | ) | $ | 636 |
| Segment net income (loss) | 74 |
| 21 |
| (23 | ) | 5 |
| 77 |
| (6 | ) | — |
| 71 |
| Six Months Ended June 30, 2020 | | | | | | | Operating revenues | $ | 1,607 |
| $ | 16 |
| $ | 32 |
| $ | 233 |
| $ | 1,888 |
| $ | 16 |
| $ | (19 | ) | $ | 1,885 |
| Segment net income (loss) | 238 |
| 51 |
| — |
| 62 |
| 351 |
| (5 | ) | — |
| 346 |
| Total assets at June 30, 2020 | 18,276 |
| 1,617 |
| 637 |
| 1,480 |
| 22,010 |
| 10,645 |
| (11,155 | ) | 21,500 |
| 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 December 31, 2019 | 18,204 |
| 1,678 |
| 850 |
| 1,496 |
| 22,228 |
| 10,759 |
| (11,300 | ) | 21,687 |
|
| | (*) | 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, 2020 | $ | 854 |
| $ | 18 |
| $ | 872 |
| $ | 891 |
| $ | (19 | ) | Three Months Ended June 30, 2019 | 1,223 |
| 63 |
| 1,286 |
| 1,238 |
| 48 |
| Six Months Ended June 30, 2020 | $ | 2,039 |
| $ | 47 |
| $ | 2,086 |
| $ | 2,054 |
| $ | 32 |
| Six Months Ended June 30, 2019 | 3,148 |
| 151 |
| 3,299 |
| 3,165 |
| 134 |
|
|
| Financial Data for Products and Services |
| | | | | | | | | | | | | | | Electric Utilities' Revenues | | Retail | Wholesale | Other | Total | | (in millions) | Three Months Ended June 30, 2020 | $ | 3,182 |
| $ | 472 |
| $ | 230 |
| $ | 3,884 |
| Three Months Ended June 30, 2019 | 3,540 |
| 542 |
| 208 |
| 4,290 |
| Six Months Ended June 30, 2020 | $ | 6,260 |
| $ | 889 |
| $ | 430 |
| $ | 7,579 |
| Six Months Ended June 30, 2019 | 6,623 |
| 1,041 |
| 421 |
| 8,085 |
|
| | | | | | | | | | | | | | | | | | Southern Company Gas' Revenues | | Gas
Distribution
Operations | Wholesale Gas Services(*) | Gas
Marketing
Services | Other | Total | | (in millions) | Three Months Ended June 30, 2020 | $ | 583 |
| $ | (19 | ) | $ | 56 |
| $ | 16 |
| $ | 636 |
| Three Months Ended June 30, 2019 | 563 |
| 48 |
| 58 |
| 20 |
| 689 |
| Six Months Ended June 30, 2020 | $ | 1,596 |
| $ | 32 |
| $ | 233 |
| $ | 24 |
| $ | 1,885 |
| Six Months Ended June 30, 2019 | 1,724 |
| 134 |
| 287 |
| 18 |
| 2,163 |
|
(*) The revenues for wholesale gas services are netted with costs associated with its energy and risk management activities. See "Southern Company Gas" herein for additional information.
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