XML 194 R6.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Operating Activities:      
Consolidated net income $ 4,744,000,000 $ 2,300,000,000 $ 926,000,000
Adjustments to reconcile consolidated net income to net cash provided from operating activities —      
Depreciation and amortization, total 3,331,000,000 3,549,000,000 3,457,000,000
Deferred income taxes 611,000,000 89,000,000 166,000,000
Utilization of federal investment tax credits 757,000,000 5,000,000 0
Amortization of investment tax credits (181,000,000) (87,000,000) (79,000,000)
Allowance for equity funds used during construction (128,000,000) (138,000,000) (160,000,000)
Pension, postretirement, and other employee benefits (204,000,000) (103,000,000) (84,000,000)
Pension and postretirement funding (1,136,000,000) (4,000,000) (2,000,000)
Settlement of asset retirement obligations (328,000,000) (244,000,000) (177,000,000)
Storm damage reserve accruals 168,000,000 74,000,000 38,000,000
Stock based compensation expense 107,000,000 125,000,000 109,000,000
Estimated loss on plants under construction 15,000,000 1,093,000,000 3,179,000,000
Impairment charges 168,000,000 210,000,000 0
(Gain) loss on dispositions, net (2,588,000,000) (301,000,000) (42,000,000)
Other, net 102,000,000 14,000,000 (63,000,000)
Changes in certain current assets and liabilities —      
-Receivables 630,000,000 (426,000,000) (202,000,000)
-Fossil fuel for generation (120,000,000) 123,000,000 36,000,000
-Natural gas for sale 44,000,000 49,000,000 36,000,000
-Other current assets 70,000,000 (127,000,000) (143,000,000)
-Accounts payable (693,000,000) 291,000,000 (280,000,000)
-Accrued taxes 117,000,000 267,000,000 (142,000,000)
-Retail fuel cost over recovery 62,000,000 36,000,000 (212,000,000)
-Other current liabilities 61,000,000 30,000,000 (38,000,000)
-Accrued compensation (9,000,000) 33,000,000 (8,000,000)
Net cash provided from operating activities 5,781,000,000 6,945,000,000 6,394,000,000
Investing Activities:      
Business acquisitions, net of cash acquired (50,000,000) (65,000,000) (1,054,000,000)
Property additions (7,555,000,000) (8,001,000,000) (7,423,000,000)
Proceeds pursuant to the Toshiba Guarantee, net of joint owner portion 0 0 1,682,000,000
Nuclear decommissioning trust fund purchases (888,000,000) (1,117,000,000) (811,000,000)
Nuclear decommissioning trust fund sales 882,000,000 1,111,000,000 805,000,000
Proceeds from dispositions and asset sales 5,122,000,000 2,956,000,000 97,000,000
Cost of removal, net of salvage (393,000,000) (388,000,000) (313,000,000)
Change in construction payables, net (169,000,000) 50,000,000 259,000,000
Investments in unconsolidated subsidiaries (148,000,000) (114,000,000) (152,000,000)
Payments pursuant to LTSAs (234,000,000) (186,000,000) (227,000,000)
Other investing activities 41,000,000 (6,000,000) (53,000,000)
Net cash used for investing activities (3,392,000,000) (5,760,000,000) (7,190,000,000)
Financing Activities:      
Increase (decrease) in notes payable, net 640,000,000    
Increase (decrease) in notes payable, net   (774,000,000) (401,000,000)
Proceeds —      
Long-term debt 5,220,000,000 2,478,000,000 5,858,000,000
Common stock 844,000,000 1,090,000,000 793,000,000
Preferred stock 0 0 250,000,000
Short-term borrowings 350,000,000 3,150,000,000 1,259,000,000
Redemptions and repurchases —      
Long-term debt (4,347,000,000) (5,533,000,000) (2,930,000,000)
Preferred and preference stock 0 (33,000,000) (658,000,000)
Short-term borrowings (1,850,000,000) (1,900,000,000) (659,000,000)
Distributions to noncontrolling interests (256,000,000) (153,000,000) (119,000,000)
Capital contributions from noncontrolling interests 196,000,000 2,551,000,000 80,000,000
Payment of common stock dividends (2,570,000,000) (2,425,000,000) (2,300,000,000)
Other financing activities (157,000,000) (264,000,000) (222,000,000)
Net cash provided from (used for) financing activities (1,930,000,000) (1,813,000,000) 951,000,000
Net Change in Cash, Cash Equivalents, and Restricted Cash 459,000,000 (628,000,000) 155,000,000
Cash, Cash Equivalents, and Restricted Cash at Beginning of Year 1,519,000,000 2,147,000,000 1,992,000,000
Cash, Cash Equivalents, and Restricted Cash at End of Year 1,978,000,000 1,519,000,000 2,147,000,000
Supplemental Cash Flow Information:      
Interest, net of amounts capitalized 1,651,000,000 1,794,000,000 1,676,000,000
Income taxes (net of refunds) 276,000,000 172,000,000 (410,000,000)
Noncash transactions —      
Accrued property additions at year-end 932,000,000 1,103,000,000 985,000,000
Alabama Power      
Operating Activities:      
Consolidated net income 1,085,000,000 945,000,000 866,000,000
Adjustments to reconcile consolidated net income to net cash provided from operating activities —      
Depreciation and amortization, total 951,000,000 917,000,000 888,000,000
Deferred income taxes 197,000,000 174,000,000 409,000,000
Allowance for equity funds used during construction (52,000,000) (62,000,000) (39,000,000)
Pension and postretirement funding (362,000,000) (4,000,000) (2,000,000)
Settlement of asset retirement obligations (127,000,000) (55,000,000) (26,000,000)
Natural disaster reserve accruals 138,000,000 16,000,000 4,000,000
Other deferred charges – affiliated (42,000,000) 0 0
Other, net (90,000,000) (17,000,000) 9,000,000
Changes in certain current assets and liabilities —      
-Receivables 9,000,000 (149,000,000) (168,000,000)
-Prepayments (4,000,000) (2,000,000) (2,000,000)
-Other current assets (85,000,000) 30,000,000 20,000,000
-Accounts payable (41,000,000) 24,000,000 71,000,000
-Accrued taxes 49,000,000 10,000,000 (84,000,000)
-Retail fuel cost over recovery 47,000,000 0 (76,000,000)
-Other current liabilities 97,000,000 128,000,000 3,000,000
-Materials and supplies 23,000,000 (82,000,000) (34,000,000)
-Accrued compensation (14,000,000) 8,000,000 (2,000,000)
Net cash provided from operating activities 1,779,000,000 1,881,000,000 1,837,000,000
Investing Activities:      
Property additions (1,757,000,000) (2,158,000,000) (1,882,000,000)
Nuclear decommissioning trust fund purchases (261,000,000) (279,000,000) (237,000,000)
Nuclear decommissioning trust fund sales 260,000,000 278,000,000 237,000,000
Cost of removal, net of salvage (103,000,000) (130,000,000) (112,000,000)
Change in construction payables, net (71,000,000) 26,000,000 161,000,000
Other investing activities (31,000,000) (26,000,000) (43,000,000)
Net cash used for investing activities (1,963,000,000) (2,289,000,000) (1,876,000,000)
Proceeds —      
Preferred stock 0 0 250,000,000
Senior notes 600,000,000 500,000,000 1,100,000,000
Pollution control revenue bonds 0 120,000,000 0
Capital contributions from parent company 1,240,000,000 511,000,000 361,000,000
Redemptions and repurchases —      
Preferred and preference stock 0 0 (238,000,000)
Senior notes (200,000,000) 0 (525,000,000)
Pollution control revenue bonds 0 (120,000,000) (36,000,000)
Payment of common stock dividends (844,000,000) (801,000,000) (714,000,000)
Other financing activities (31,000,000) (33,000,000) (35,000,000)
Net cash provided from (used for) financing activities 765,000,000 177,000,000 163,000,000
Net Change in Cash, Cash Equivalents, and Restricted Cash 581,000,000 (231,000,000) 124,000,000
Cash, Cash Equivalents, and Restricted Cash at Beginning of Year 313,000,000 544,000,000 420,000,000
Cash, Cash Equivalents, and Restricted Cash at End of Year 894,000,000 313,000,000 544,000,000
Supplemental Cash Flow Information:      
Interest, net of amounts capitalized 311,000,000 284,000,000 285,000,000
Income taxes (net of refunds) 26,000,000 106,000,000 236,000,000
Noncash transactions —      
Accrued property additions at year-end 200,000,000 272,000,000 245,000,000
Georgia Power      
Operating Activities:      
Consolidated net income 1,720,000,000 793,000,000 1,428,000,000
Adjustments to reconcile consolidated net income to net cash provided from operating activities —      
Depreciation and amortization, total 1,193,000,000 1,142,000,000 1,100,000,000
Deferred income taxes 179,000,000 (260,000,000) 458,000,000
Pension, postretirement, and other employee benefits (146,000,000) (75,000,000) (68,000,000)
Pension and postretirement funding (200,000,000) 0 0
Settlement of asset retirement obligations (151,000,000) (116,000,000) (120,000,000)
Retail fuel cost over recovery – long-term 73,000,000 0 0
Other deferred charges – affiliated (108,000,000) 0 0
Estimated loss on plants under construction 0 1,060,000,000 0
Other, net 12,000,000 (21,000,000) (83,000,000)
Changes in certain current assets and liabilities —      
-Receivables 177,000,000 8,000,000 (256,000,000)
-Fossil fuel for generation (41,000,000) 83,000,000 (16,000,000)
-Other current assets (19,000,000) (43,000,000) (28,000,000)
-Accounts payable (92,000,000) 95,000,000 (219,000,000)
-Accrued taxes 58,000,000 58,000,000 1,000,000
-Retail fuel cost over recovery 0 0 (84,000,000)
-Other current liabilities 150,000,000 (107,000,000) (33,000,000)
-Prepaid income taxes 102,000,000 152,000,000 (168,000,000)
Net cash provided from operating activities 2,907,000,000 2,769,000,000 1,912,000,000
Investing Activities:      
Property additions (3,510,000,000) (3,116,000,000) (2,704,000,000)
Proceeds pursuant to the Toshiba Guarantee, net of joint owner portion 0 0 1,682,000,000
Nuclear decommissioning trust fund purchases (628,000,000) (839,000,000) (574,000,000)
Nuclear decommissioning trust fund sales 622,000,000 833,000,000 568,000,000
Cost of removal, net of salvage (186,000,000) (107,000,000) (100,000,000)
Payments pursuant to LTSAs (81,000,000) (54,000,000) (64,000,000)
Change in construction payables, net of joint owner portion (122,000,000) 68,000,000 223,000,000
Proceeds from dispositions and asset sales 14,000,000 138,000,000 96,000,000
Other investing activities 6,000,000 (32,000,000) (39,000,000)
Net cash used for investing activities (3,885,000,000) (3,109,000,000) (912,000,000)
Financing Activities:      
Increase (decrease) in notes payable, net   294,000,000  
Increase (decrease) in notes payable, net (179,000,000)   (391,000,000)
Proceeds —      
Short-term borrowings 250,000,000 0 700,000,000
Senior notes 750,000,000 0 1,350,000,000
Pollution control revenue bonds 584,000,000 108,000,000 65,000,000
Other long-term debt 0 0 370,000,000
Capital contributions from parent company 634,000,000 2,985,000,000 431,000,000
FFB loan 1,218,000,000 0 0
Redemptions and repurchases —      
Preferred and preference stock 0 0 (270,000,000)
Short-term borrowings 0 (150,000,000) (550,000,000)
Senior notes (500,000,000) (1,500,000,000) (450,000,000)
Pollution control revenue bonds (223,000,000) (469,000,000) (65,000,000)
Other long-term debt 0 (100,000,000) 0
Payment of common stock dividends (1,576,000,000) (1,396,000,000) (1,281,000,000)
Premiums on redemption and repurchases of senior notes 0 (152,000,000) 0
Other financing activities (40,000,000) (20,000,000) (60,000,000)
Net cash provided from (used for) financing activities 918,000,000 (400,000,000) (151,000,000)
Net Change in Cash, Cash Equivalents, and Restricted Cash (60,000,000) (740,000,000) 849,000,000
Cash, Cash Equivalents, and Restricted Cash at Beginning of Year 112,000,000 852,000,000 3,000,000
Cash, Cash Equivalents, and Restricted Cash at End of Year 52,000,000 112,000,000 852,000,000
Supplemental Cash Flow Information:      
Interest, net of amounts capitalized 373,000,000 408,000,000 386,000,000
Income taxes (net of refunds) 110,000,000 300,000,000 496,000,000
Noncash transactions —      
Accrued property additions at year-end 560,000,000 683,000,000 550,000,000
Mississippi Power      
Operating Activities:      
Consolidated net income 139,000,000 236,000,000 (2,588,000,000)
Adjustments to reconcile consolidated net income to net cash provided from operating activities —      
Depreciation and amortization, total 197,000,000 177,000,000 198,000,000
Deferred income taxes 37,000,000 475,000,000 (727,000,000)
Allowance for equity funds used during construction (1,000,000) 0 (72,000,000)
Pension and postretirement funding (54,000,000) 0 0
Settlement of asset retirement obligations (35,000,000) (35,000,000) (23,000,000)
Estimated loss on plants under construction 15,000,000 33,000,000 3,179,000,000
Other, net 21,000,000 18,000,000 (8,000,000)
Changes in certain current assets and liabilities —      
-Receivables 6,000,000 (19,000,000) 540,000,000
-Fossil fuel for generation (6,000,000) (3,000,000) 24,000,000
-Other current assets (2,000,000) (7,000,000) (13,000,000)
-Accounts payable 3,000,000 15,000,000 (3,000,000)
-Accrued taxes 11,000,000 (46,000,000) 80,000,000
-Other current liabilities (20,000,000) (41,000,000) (4,000,000)
-Prepaid income taxes 12,000,000 (12,000,000) 0
-Accrued interest 0 (1,000,000) (29,000,000)
-Over recovered regulatory clause revenues 16,000,000 14,000,000 (51,000,000)
Net cash provided from operating activities 339,000,000 804,000,000 503,000,000
Investing Activities:      
Property additions (202,000,000) (188,000,000) (429,000,000)
Change in construction payables, net (1,000,000) 4,000,000 (47,000,000)
Payments pursuant to LTSAs (23,000,000) (29,000,000) (10,000,000)
Other investing activities (37,000,000) (19,000,000) (18,000,000)
Net cash used for investing activities (263,000,000) (232,000,000) (504,000,000)
Financing Activities:      
Increase (decrease) in notes payable, net 0 (4,000,000) (18,000,000)
Proceeds —      
Short-term borrowings 0 300,000,000 109,000,000
Senior notes 0 600,000,000 0
Pollution control revenue bonds 43,000,000 0 0
Capital contributions from parent company 51,000,000 15,000,000 1,002,000,000
Long-term debt issuance to parent company 0 0 40,000,000
Redemptions and repurchases —      
Preferred and preference stock 0 (33,000,000) 0
Short-term borrowings 0 (300,000,000) (109,000,000)
Senior notes (25,000,000) (155,000,000) (35,000,000)
Pollution control revenue bonds 0 (43,000,000) 0
Long-term debt to parent company 0 0 (591,000,000)
Capital leases 0 0 (71,000,000)
Other long-term debt 0 (900,000,000) (300,000,000)
Return of capital to parent company (150,000,000) 0 0
Other financing activities (2,000,000) (7,000,000) (2,000,000)
Net cash provided from (used for) financing activities (83,000,000) (527,000,000) 25,000,000
Net Change in Cash, Cash Equivalents, and Restricted Cash (7,000,000) 45,000,000 24,000,000
Cash, Cash Equivalents, and Restricted Cash at Beginning of Year 293,000,000 248,000,000 224,000,000
Cash, Cash Equivalents, and Restricted Cash at End of Year 286,000,000 293,000,000 248,000,000
Supplemental Cash Flow Information:      
Interest, net of amounts capitalized 71,000,000 80,000,000 65,000,000
Income taxes (net of refunds) (27,000,000) (525,000,000) (424,000,000)
Noncash transactions —      
Accrued property additions at year-end 35,000,000 35,000,000 32,000,000
Southern Power      
Operating Activities:      
Consolidated net income 329,000,000 246,000,000 1,117,000,000
Adjustments to reconcile consolidated net income to net cash provided from operating activities —      
Depreciation and amortization, total 505,000,000 524,000,000 536,000,000
Deferred income taxes (74,000,000) (244,000,000) (263,000,000)
Utilization of federal investment tax credits 734,000,000 5,000,000 0
Amortization of investment tax credits (151,000,000) (58,000,000) (57,000,000)
Pension and postretirement funding (24,000,000) 0 0
Income taxes receivable, non-current 25,000,000 42,000,000 (61,000,000)
Impairment charges 3,000,000 156,000,000 0
(Gain) loss on dispositions, net 23,000,000 2,000,000 0
Accrued income taxes, non-current 0 (14,000,000) 14,000,000
Other, net (33,000,000) 7,000,000 (13,000,000)
Changes in certain current assets and liabilities —      
-Receivables 72,000,000 (20,000,000) (60,000,000)
-Other current assets (8,000,000) (26,000,000) (28,000,000)
-Accrued taxes 6,000,000 7,000,000 (55,000,000)
-Other current liabilities (38,000,000) (19,000,000) 1,000,000
-Prepaid income taxes 39,000,000 25,000,000 24,000,000
Net cash provided from operating activities 1,385,000,000 631,000,000 1,155,000,000
Investing Activities:      
Business acquisitions, net of cash acquired (50,000,000) (65,000,000) (1,016,000,000)
Property additions (489,000,000) (315,000,000) (268,000,000)
Proceeds from dispositions and asset sales 572,000,000 203,000,000 0
Investments in unconsolidated subsidiaries (116,000,000) 0 0
Change in construction payables, net of joint owner portion 7,000,000 (6,000,000) (153,000,000)
Payments pursuant to LTSAs and for equipment not yet received (104,000,000) (75,000,000) (203,000,000)
Other investing activities 13,000,000 31,000,000 15,000,000
Net cash used for investing activities (167,000,000) (227,000,000) (1,625,000,000)
Financing Activities:      
Increase (decrease) in notes payable, net 449,000,000    
Increase (decrease) in notes payable, net   (105,000,000) (104,000,000)
Proceeds —      
Short-term borrowings 100,000,000 200,000,000 0
Senior notes 0 0 525,000,000
Other long-term debt 0 0 43,000,000
Capital contributions from parent company 64,000,000 2,000,000 0
Redemptions and repurchases —      
Short-term borrowings (100,000,000) (100,000,000) 0
Senior notes (600,000,000) (350,000,000) (500,000,000)
Other long-term debt 0 (420,000,000) (18,000,000)
Return of capital to parent company (755,000,000) (1,650,000,000) 0
Distributions to noncontrolling interests (256,000,000) (153,000,000) (119,000,000)
Capital contributions from noncontrolling interests 196,000,000 2,551,000,000 80,000,000
Purchase of membership interests from noncontrolling interests 0 0 (59,000,000)
Payment of common stock dividends (206,000,000) (312,000,000) (317,000,000)
Other financing activities (12,000,000) (26,000,000) (33,000,000)
Net cash provided from (used for) financing activities (1,120,000,000) (363,000,000) (502,000,000)
Net Change in Cash, Cash Equivalents, and Restricted Cash 98,000,000 41,000,000 (972,000,000)
Cash, Cash Equivalents, and Restricted Cash at Beginning of Year 181,000,000 140,000,000 1,112,000,000
Cash, Cash Equivalents, and Restricted Cash at End of Year 279,000,000 181,000,000 140,000,000
Supplemental Cash Flow Information:      
Interest, net of amounts capitalized 167,000,000 173,000,000 189,000,000
Income taxes (net of refunds) (664,000,000) 79,000,000 (487,000,000)
Noncash transactions —      
Accrued property additions at year-end 57,000,000 31,000,000 32,000,000
Southern Company Gas      
Operating Activities:      
Consolidated net income 585,000,000 372,000,000 243,000,000
Adjustments to reconcile consolidated net income to net cash provided from operating activities —      
Depreciation and amortization, total 487,000,000 500,000,000 501,000,000
Deferred income taxes 213,000,000 (1,000,000) 236,000,000
Pension and postretirement funding (145,000,000) 0 0
Impairment charges 115,000,000 42,000,000 0
(Gain) loss on dispositions, net 0 (291,000,000) 0
Mark-to-market adjustments (56,000,000) (19,000,000) (24,000,000)
Other, net (55,000,000) (24,000,000) (51,000,000)
Changes in certain current assets and liabilities —      
-Receivables 467,000,000 (218,000,000) (94,000,000)
-Natural gas for sale 44,000,000 49,000,000 36,000,000
-Other current assets 31,000,000 4,000,000 (24,000,000)
-Accounts payable (520,000,000) 372,000,000 (20,000,000)
-Accrued taxes (69,000,000) 10,000,000 110,000,000
-Other current liabilities (71,000,000) (22,000,000) (8,000,000)
-Prepaid income taxes 40,000,000 (42,000,000) (39,000,000)
-Accrued compensation 1,000,000 32,000,000 15,000,000
Net cash provided from operating activities 1,067,000,000 764,000,000 881,000,000
Investing Activities:      
Property additions (1,408,000,000) (1,388,000,000) (1,514,000,000)
Proceeds from dispositions and asset sales 32,000,000 2,609,000,000 0
Cost of removal, net of salvage (82,000,000) (96,000,000) (66,000,000)
Change in construction payables, net 24,000,000 (37,000,000) 72,000,000
Investments in unconsolidated subsidiaries (31,000,000) (110,000,000) (145,000,000)
Returned investment in unconsolidated subsidiaries 67,000,000 20,000,000 80,000,000
Other investing activities 12,000,000 0 5,000,000
Net cash used for investing activities (1,386,000,000) 998,000,000 (1,568,000,000)
Financing Activities:      
Increase (decrease) in notes payable, net 0   262,000,000
Increase (decrease) in notes payable, net   (868,000,000)  
Proceeds —      
First mortgage bonds 300,000,000 300,000,000 400,000,000
Senior notes 0 0 450,000,000
Capital contributions from parent company 821,000,000 24,000,000 103,000,000
Redemptions and repurchases —      
Gas facility revenue bonds 0 (200,000,000) 0
Medium-term notes 0 0 (22,000,000)
Senior notes (300,000,000) (155,000,000) 0
First mortgage bonds (50,000,000) 0 0
Return of capital to parent company 0 (400,000,000) 0
Payment of common stock dividends (471,000,000) (468,000,000) (443,000,000)
Other financing activities (2,000,000) (3,000,000) (9,000,000)
Net cash provided from (used for) financing activities 298,000,000 (1,770,000,000) 741,000,000
Net Change in Cash, Cash Equivalents, and Restricted Cash (21,000,000) (8,000,000) 54,000,000
Cash, Cash Equivalents, and Restricted Cash at Beginning of Year 70,000,000 78,000,000 24,000,000
Cash, Cash Equivalents, and Restricted Cash at End of Year 49,000,000 70,000,000 78,000,000
Supplemental Cash Flow Information:      
Interest, net of amounts capitalized 251,000,000 249,000,000 223,000,000
Income taxes (net of refunds) (41,000,000) 524,000,000 72,000,000
Noncash transactions —      
Accrued property additions at year-end $ 122,000,000 $ 97,000,000 $ 135,000,000