Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions |
6 Months Ended |
Jun. 30, 2020 |
Jun. 30, 2019 |
| Operating Activities: |
|
|
| Net income |
$ 1,461
|
$ 2,989
|
| Adjustments to reconcile net income to net cash provided from operating activities — |
|
|
| Depreciation and amortization, total |
1,916
|
1,623
|
| Deferred income taxes |
(218)
|
274
|
| Utilization of federal investment tax credits |
0
|
427
|
| Allowance for equity funds used during construction |
(68)
|
(63)
|
| Pension, postretirement, and other employee benefits |
(119)
|
(65)
|
| Settlement of asset retirement obligations |
(193)
|
(143)
|
| Stock based compensation expense |
84
|
75
|
| Estimated loss on Plant Vogtle Units 3 and 4 |
149
|
0
|
| Storm damage reserve accruals |
117
|
23
|
| Impairment charges |
154
|
32
|
| (Gain) loss on dispositions, net |
(35)
|
(2,512)
|
| Other, net |
43
|
(3)
|
| Changes in certain current assets and liabilities — |
|
|
| -Receivables |
292
|
653
|
| -Prepayments |
(102)
|
(53)
|
| -Natural gas for sale |
182
|
255
|
| -Other current assets |
(253)
|
(18)
|
| -Accounts payable |
(467)
|
(1,045)
|
| -Accrued taxes |
258
|
511
|
| -Accrued compensation |
(347)
|
(312)
|
| -Retail fuel cost over recovery |
174
|
2
|
| -Customer refunds |
(223)
|
(35)
|
| -Other current liabilities |
42
|
(102)
|
| Net cash provided from operating activities |
2,847
|
2,513
|
| Investing Activities: |
|
|
| Property additions |
(3,202)
|
(3,484)
|
| Nuclear decommissioning trust fund purchases |
(524)
|
(405)
|
| Nuclear decommissioning trust fund sales |
519
|
400
|
| Proceeds from dispositions and asset sales |
983
|
5,000
|
| Cost of removal, net of salvage |
(130)
|
(197)
|
| Change in construction payables, net |
(103)
|
(107)
|
| Investment in unconsolidated subsidiaries |
(78)
|
(134)
|
| Payments pursuant to LTSAs |
(91)
|
(64)
|
| Other investing activities |
(29)
|
(7)
|
| Net cash provided from (used for) investing activities |
(2,655)
|
1,002
|
| Financing Activities: |
|
|
| Increase (decrease) in notes payable, net |
|
83
|
| Decrease in notes payable, net |
(1,170)
|
|
| Proceeds — |
|
|
| Long-term debt |
4,293
|
1,390
|
| Common stock |
59
|
452
|
| Short-term borrowings |
615
|
250
|
| Redemptions and repurchases — |
|
|
| Long-term debt |
(2,444)
|
(2,560)
|
| Short-term borrowings |
(190)
|
(1,850)
|
| Distributions to noncontrolling interests |
(118)
|
(82)
|
| Capital contributions from noncontrolling interests |
172
|
5
|
| Payment of common stock dividends |
(1,332)
|
(1,269)
|
| Other financing activities |
(170)
|
(67)
|
| Net cash used for financing activities |
(285)
|
(3,648)
|
| Net Change in Cash, Cash Equivalents, and Restricted Cash |
(93)
|
(133)
|
| Cash, Cash Equivalents, and Restricted Cash at Beginning of Period |
1,978
|
1,519
|
| Cash, Cash Equivalents, and Restricted Cash at End of Period |
1,885
|
1,386
|
| Cash paid (received) during the period for — |
|
|
| Interest, net of amounts capitalized |
852
|
844
|
| Income taxes, net |
(8)
|
210
|
| Accrued property additions at end of period |
828
|
988
|
| Right-of-use assets obtained under operating leases |
87
|
55
|
| Right-of-use assets obtained under finance leases |
7
|
33
|
| ALABAMA POWER CO |
|
|
| Operating Activities: |
|
|
| Net income |
585
|
520
|
| Adjustments to reconcile net income to net cash provided from operating activities — |
|
|
| Depreciation and amortization, total |
484
|
493
|
| Deferred income taxes |
38
|
138
|
| Allowance for equity funds used during construction |
(22)
|
(28)
|
| Pension, postretirement, and other employee benefits |
(50)
|
(13)
|
| Settlement of asset retirement obligations |
(100)
|
(43)
|
| Other, net |
45
|
(1)
|
| Changes in certain current assets and liabilities — |
|
|
| -Prepayments |
(62)
|
(59)
|
| -Materials and supplies |
(38)
|
5
|
| -Other current assets |
(65)
|
(4)
|
| -Accounts payable |
(232)
|
(246)
|
| -Accrued taxes |
197
|
8
|
| -Accrued compensation |
(75)
|
(88)
|
| -Retail fuel cost over recovery |
66
|
0
|
| -Customer refunds |
(64)
|
(1)
|
| -Other current liabilities |
(33)
|
14
|
| Net cash provided from operating activities |
674
|
695
|
| Investing Activities: |
|
|
| Property additions |
(686)
|
(833)
|
| Nuclear decommissioning trust fund purchases |
(160)
|
(139)
|
| Nuclear decommissioning trust fund sales |
160
|
139
|
| Cost of removal, net of salvage |
(29)
|
(48)
|
| Change in construction payables, net |
(53)
|
(103)
|
| Other investing activities |
(15)
|
(18)
|
| Net cash provided from (used for) investing activities |
(783)
|
(1,002)
|
| Proceeds — |
|
|
| Pollution control revenue bonds |
87
|
0
|
| Capital contributions from parent company |
610
|
1,254
|
| Redemptions and repurchases — |
|
|
| Pollution control revenue bonds |
(87)
|
0
|
| Senior notes |
0
|
(200)
|
| Payment of common stock dividends |
(479)
|
(422)
|
| Other financing activities |
(15)
|
(15)
|
| Net cash used for financing activities |
116
|
617
|
| Net Change in Cash, Cash Equivalents, and Restricted Cash |
7
|
310
|
| Cash, Cash Equivalents, and Restricted Cash at Beginning of Period |
894
|
313
|
| Cash, Cash Equivalents, and Restricted Cash at End of Period |
901
|
623
|
| Cash paid (received) during the period for — |
|
|
| Interest, net of amounts capitalized |
161
|
154
|
| Income taxes, net |
0
|
63
|
| Accrued property additions at end of period |
147
|
168
|
| Right-of-use assets obtained under operating leases |
2
|
5
|
| Right-of-use assets obtained under finance leases |
1
|
1
|
| GEORGIA POWER CO |
|
|
| Operating Activities: |
|
|
| Net income |
638
|
759
|
| Adjustments to reconcile net income to net cash provided from operating activities — |
|
|
| Depreciation and amortization, total |
800
|
583
|
| Deferred income taxes |
(202)
|
153
|
| Allowance for equity funds used during construction |
(40)
|
(31)
|
| Pension, postretirement, and other employee benefits |
(55)
|
(56)
|
| Settlement of asset retirement obligations |
(78)
|
(76)
|
| Estimated loss on Plant Vogtle Units 3 and 4 |
149
|
0
|
| Storm damage reserve accruals |
107
|
15
|
| Other, net |
19
|
17
|
| Changes in certain current assets and liabilities — |
|
|
| -Receivables |
(73)
|
(43)
|
| -Fossil fuel stock |
(52)
|
(26)
|
| -Prepaid income taxes |
0
|
63
|
| -Materials and supplies |
(61)
|
2
|
| -Other current assets |
(26)
|
19
|
| -Accounts payable |
0
|
(94)
|
| -Accrued taxes |
87
|
(139)
|
| -Accrued compensation |
(69)
|
(32)
|
| -Retail fuel cost over recovery |
109
|
0
|
| -Customer refunds |
(159)
|
(19)
|
| -Other current liabilities |
30
|
17
|
| Net cash provided from operating activities |
1,124
|
1,112
|
| Investing Activities: |
|
|
| Property additions |
(1,650)
|
(1,712)
|
| Nuclear decommissioning trust fund purchases |
(365)
|
(266)
|
| Nuclear decommissioning trust fund sales |
359
|
260
|
| Proceeds from dispositions and asset sales |
143
|
9
|
| Cost of removal, net of salvage |
(62)
|
(107)
|
| Change in construction payables, net |
(48)
|
(5)
|
| Payments pursuant to LTSAs |
(41)
|
(9)
|
| Other investing activities |
5
|
(4)
|
| Net cash provided from (used for) investing activities |
(1,659)
|
(1,834)
|
| Financing Activities: |
|
|
| Increase (decrease) in notes payable, net |
|
11
|
| Decrease in notes payable, net |
(25)
|
|
| Proceeds — |
|
|
| FFB loan |
519
|
835
|
| Senior notes |
1,500
|
0
|
| Pollution control revenue bonds |
53
|
513
|
| Short-term borrowings |
250
|
250
|
| Capital contributions from parent company |
500
|
46
|
| Redemptions and repurchases — |
|
|
| Pollution control revenue bonds |
(148)
|
(223)
|
| Senior notes |
(950)
|
0
|
| FFB loan |
(32)
|
0
|
| Payment of common stock dividends |
(771)
|
(788)
|
| Other financing activities |
(27)
|
(24)
|
| Net cash used for financing activities |
869
|
620
|
| Net Change in Cash, Cash Equivalents, and Restricted Cash |
334
|
(102)
|
| Cash, Cash Equivalents, and Restricted Cash at Beginning of Period |
52
|
112
|
| Cash, Cash Equivalents, and Restricted Cash at End of Period |
386
|
10
|
| Cash paid (received) during the period for — |
|
|
| Interest, net of amounts capitalized |
180
|
179
|
| Income taxes, net |
0
|
(6)
|
| Accrued property additions at end of period |
478
|
650
|
| Right-of-use assets obtained under operating leases |
29
|
13
|
| Right-of-use assets obtained under finance leases |
0
|
28
|
| MISSISSIPPI POWER CO |
|
|
| Operating Activities: |
|
|
| Net income |
71
|
74
|
| Adjustments to reconcile net income to net cash provided from operating activities — |
|
|
| Depreciation and amortization, total |
92
|
98
|
| Deferred income taxes |
(13)
|
(16)
|
| Settlement of asset retirement obligations |
(9)
|
(17)
|
| Other, net |
9
|
12
|
| Changes in certain current assets and liabilities — |
|
|
| -Receivables |
(7)
|
(8)
|
| -Other current assets |
(6)
|
(3)
|
| -Accounts payable |
(19)
|
(28)
|
| -Accrued taxes |
(21)
|
(43)
|
| -Accrued compensation |
(15)
|
(15)
|
| -Other current liabilities |
(11)
|
6
|
| Net cash provided from operating activities |
71
|
60
|
| Investing Activities: |
|
|
| Property additions |
(111)
|
(95)
|
| Change in construction payables, net |
(14)
|
(12)
|
| Payments pursuant to LTSAs |
(10)
|
(11)
|
| Other investing activities |
(10)
|
(10)
|
| Net cash provided from (used for) investing activities |
(145)
|
(128)
|
| Proceeds — |
|
|
| Pollution control revenue bonds |
34
|
43
|
| Short-term borrowings |
40
|
0
|
| Capital contributions from parent company |
75
|
7
|
| Other long-term debt |
100
|
0
|
| Redemptions and repurchases — |
|
|
| Short-term borrowings |
(40)
|
0
|
| Pollution control revenue bonds |
(41)
|
0
|
| Senior notes |
(275)
|
0
|
| Return of capital to parent company |
(74)
|
(75)
|
| Other financing activities |
3
|
(1)
|
| Net cash used for financing activities |
(178)
|
(26)
|
| Net Change in Cash, Cash Equivalents, and Restricted Cash |
(252)
|
(94)
|
| Cash, Cash Equivalents, and Restricted Cash at Beginning of Period |
286
|
293
|
| Cash, Cash Equivalents, and Restricted Cash at End of Period |
34
|
199
|
| Cash paid (received) during the period for — |
|
|
| Interest, net of amounts capitalized |
33
|
36
|
| Income taxes, net |
0
|
23
|
| Accrued property additions at end of period |
21
|
23
|
| SOUTHERN POWER CO |
|
|
| Operating Activities: |
|
|
| Net income |
112
|
230
|
| Adjustments to reconcile net income to net cash provided from operating activities — |
|
|
| Depreciation and amortization, total |
251
|
251
|
| Deferred income taxes |
(34)
|
(63)
|
| Utilization of federal investment tax credits |
0
|
427
|
| Amortization of investment tax credits |
(30)
|
(122)
|
| (Gain) loss on dispositions, net |
(39)
|
(23)
|
| Other, net |
(31)
|
(46)
|
| Changes in certain current assets and liabilities — |
|
|
| -Receivables |
(67)
|
(9)
|
| -Prepaid income taxes |
73
|
93
|
| -Other current assets |
(8)
|
4
|
| -Accounts payable |
(29)
|
(17)
|
| -Accrued taxes |
16
|
19
|
| -Other current liabilities |
(19)
|
(25)
|
| Net cash provided from operating activities |
195
|
719
|
| Investing Activities: |
|
|
| Business acquisitions, net of cash acquired |
(81)
|
(2)
|
| Property additions |
(101)
|
(123)
|
| Proceeds from dispositions and asset sales |
660
|
540
|
| Investment in unconsolidated subsidiaries |
0
|
(116)
|
| Payments pursuant to LTSAs |
(31)
|
(31)
|
| Other investing activities |
43
|
(14)
|
| Net cash provided from (used for) investing activities |
490
|
254
|
| Financing Activities: |
|
|
| Decrease in notes payable, net |
(357)
|
0
|
| Redemptions and repurchases — |
|
|
| Short-term borrowings |
(100)
|
(100)
|
| Senior notes |
(300)
|
0
|
| Return of capital to parent company |
0
|
(505)
|
| Distributions to noncontrolling interests |
(118)
|
(82)
|
| Capital contributions from noncontrolling interests |
172
|
5
|
| Payment of common stock dividends |
(100)
|
(103)
|
| Other financing activities |
(5)
|
1
|
| Net cash used for financing activities |
(808)
|
(784)
|
| Net Change in Cash, Cash Equivalents, and Restricted Cash |
(123)
|
189
|
| Cash, Cash Equivalents, and Restricted Cash at Beginning of Period |
279
|
181
|
| Cash, Cash Equivalents, and Restricted Cash at End of Period |
156
|
370
|
| Cash paid (received) during the period for — |
|
|
| Interest, net of amounts capitalized |
96
|
106
|
| Income taxes, net |
(5)
|
(421)
|
| Accrued property additions at end of period |
38
|
31
|
| Right-of-use assets obtained under operating leases |
30
|
0
|
| SOUTHERN Co GAS |
|
|
| Operating Activities: |
|
|
| Net income |
346
|
376
|
| Adjustments to reconcile net income to net cash provided from operating activities — |
|
|
| Depreciation and amortization, total |
243
|
238
|
| Deferred income taxes |
40
|
59
|
| Mark-to-market adjustments |
34
|
30
|
| Other, net |
11
|
(26)
|
| Changes in certain current assets and liabilities — |
|
|
| -Receivables |
344
|
717
|
| -Natural gas for sale |
182
|
256
|
| -Other current assets |
6
|
29
|
| -Accounts payable |
(176)
|
(604)
|
| -Accrued taxes |
26
|
(54)
|
| -Accrued compensation |
(31)
|
(34)
|
| -Other current liabilities |
21
|
(56)
|
| Net cash provided from operating activities |
1,046
|
931
|
| Investing Activities: |
|
|
| Property additions |
(647)
|
(603)
|
| Proceeds from dispositions and asset sales |
178
|
32
|
| Cost of removal, net of salvage |
(31)
|
(33)
|
| Investment in unconsolidated subsidiaries |
(78)
|
(18)
|
| Other investing activities |
8
|
36
|
| Net cash provided from (used for) investing activities |
(570)
|
(586)
|
| Financing Activities: |
|
|
| Decrease in notes payable, net |
(321)
|
(158)
|
| Proceeds — |
|
|
| Capital contributions from parent company |
186
|
38
|
| Redemptions and repurchases — |
|
|
| Payment of common stock dividends |
(266)
|
(235)
|
| Net cash used for financing activities |
(401)
|
(355)
|
| Net Change in Cash, Cash Equivalents, and Restricted Cash |
75
|
(10)
|
| Cash, Cash Equivalents, and Restricted Cash at Beginning of Period |
49
|
70
|
| Cash, Cash Equivalents, and Restricted Cash at End of Period |
124
|
60
|
| Cash paid (received) during the period for — |
|
|
| Interest, net of amounts capitalized |
119
|
125
|
| Income taxes, net |
(4)
|
96
|
| Accrued property additions at end of period |
$ 123
|
$ 123
|