Segment and Related Information (Tables)

3 Months Ended

Mar. 31, 2021

Schedule of Financial Data for Business Segments

Financial data for business segments and products and services for the three months ended March 31, 2021 and 2020 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 March 31, 2021
Operating revenues	$	3,764	$	440	$	(87)	$	4,117	$	1,694	$	134	$	(35)	$	5,910
Segment net income (loss)(a)(b)(c)	756		97		—		853		398		(108)		(8)		1,135
At March 31, 2021
Goodwill	$	—	$	2	$	—	$	2	$	5,015	$	263	$	—	$	5,280
Total assets	86,053		13,995		(637)		99,411		23,377		3,392		(787)		125,393



Three Months Ended March 31, 2020
Operating revenues	$	3,407	$	375	$	(87)	$	3,695	$	1,249	$	114	$	(40)	$	5,018
Segment net income (loss)(a)(d)	642		75		—		717		275		(121)		(3)		868
At December 31, 2020
Goodwill	$	—	$	2	$	—	$	2	$	5,015	$	263	$	—	$	5,280
Total assets	85,486		13,235		(680)		98,041		22,630		3,168		(904)		122,935

(a)Attributable to Southern Company.

(b)For the traditional electric operating companies, includes a $48 million pre-tax charge ($36 million after tax) at Georgia Power for estimated loss on Plant Vogtle Units 3 and 4. See Note (B) under "Georgia Power – Nuclear Construction" for additional information.

(c)For Southern Power, includes gains on wind turbine equipment contributed to various equity method investments totaling approximately $37 million pre-tax ($28 million after tax). See Notes (E) and (K) under "Southern Power" for additional information.

(d)For Southern Power, includes a $39 million pre-tax gain ($23 million gain after tax) on the sale of Plant Mankato. See Note 15 to the financial statements in Item 8 of the Form 10-K under "Southern Power" for additional information.

Business segment financial data for the three months ended March 31, 2021 and 2020 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 March 31, 2021
Operating revenues	$	1,200	$	8	$	298	$	195	$	1,701	$	7	$	(14)	$	1,694
Segment net income (loss)	183		29		126		56		394		4		—		398
Total assets at March 31, 2021	20,161		1,596		939		1,553		24,249		11,477		(12,349)		23,377



Three Months Ended March 31, 2020
Operating revenues	$	1,020	$	8	$	51	$	177	$	1,256	$	8	$	(15)	$	1,249
Segment net income (loss)	164		30		23		57		274		1		—		275
Total assets at December 31, 2020	19,090		1,597		850		1,503		23,040		11,336		(11,746)		22,630

(*)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 March 31, 2021	$	2,588	$	63	$	2,651	$	2,353	$	298
Three Months Ended March 31, 2020	1,185		29		1,214		1,163		51

Schedule of Financial Data for Products and Services


	Electric Utilities' Revenues
	Retail		Wholesale		Other		Total
	(in millions)


Three Months Ended March 31, 2021	$	3,342	$	545	$	230	$	4,117
Three Months Ended March 31, 2020	3,078		418		199		3,695


	Southern Company Gas' Revenues
	Gas Distribution Operations		Wholesale Gas Services(*)		Gas Marketing Services		Other		Total
	(in millions)


Three Months Ended March 31, 2021	$	1,192	$	298	$	195	$	9	$	1,694
Three Months Ended March 31, 2020	1,013		51		177		8		1,249

(*)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.