Revenue from Contracts with Customers and Lease Income (Tables)

3 Months Ended

Mar. 31, 2024

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue

The following table disaggregates revenue from contracts with customers for the three months ended March 31, 2024 and 2023:

	Southern Company		Alabama Power		Georgia Power		Mississippi Power		Southern Power		Southern Company Gas
	(in millions)
Three Months Ended March 31, 2024
Operating revenues
Retail electric revenues
Residential	$	1,852	$	765	$	1,016	$	71	$	—	$	—
Commercial	1,471		468		932		71		—		—
Industrial	871		410		383		78		—		—
Other	30		3		25		2		—		—
Total retail electric revenues	4,224		1,646		2,356		222		—		—
Natural gas distribution revenues
Residential	745		—		—		—		—		745
Commercial	176		—		—		—		—		176
Transportation	361		—		—		—		—		361
Industrial	16		—		—		—		—		16
Other	113		—		—		—		—		113
Total natural gas distribution revenues	1,411		—		—		—		—		1,411
Wholesale electric revenues
PPA energy revenues	272		57		18		1		202		—
PPA capacity revenues	153		24		32		16		97		—
Non-PPA revenues	58		41		—		93		58		—
Total wholesale electric revenues	483		122		50		110		357		—
Other natural gas revenues
Gas marketing services	233		—		—		—		—		233
Other natural gas revenues	5		—		—		—		—		5
Total natural gas revenues	238		—		—		—		—		238
Other revenues	326		52		151		11		12		—
Total revenue from contracts with customers	6,682		1,820		2,557		343		369		1,649
Other revenue sources(*)	(36)		(29)		(159)		(1)		104		58
Total operating revenues	$	6,646	$	1,791	$	2,398	$	342	$	473	$	1,707

	Southern Company		Alabama Power		Georgia Power		Mississippi Power		Southern Power		Southern Company Gas
	(in millions)
Three Months Ended March 31, 2023
Operating revenues
Retail electric revenues
Residential	$	1,525	$	659	$	801	$	65	$	—	$	—
Commercial	1,251		430		753		68		—		—
Industrial	789		398		313		78		—		—
Other	27		3		22		2		—		—
Total retail electric revenues	3,592		1,490		1,889		213		—		—
Natural gas distribution revenues
Residential	896		—		—		—		—		896
Commercial	232		—		—		—		—		232
Transportation	319		—		—		—		—		319
Industrial	23		—		—		—		—		23
Other	117		—		—		—		—		117
Total natural gas distribution revenues	1,587		—		—		—		—		1,587
Wholesale electric revenues
PPA energy revenues	284		72		12		4		202		—
PPA capacity revenues	190		60		11		32		89		—
Non-PPA revenues	36		20		3		107		103		—
Total wholesale electric revenues	510		152		26		143		394		—
Other natural gas revenues
Gas marketing services	231		—		—		—		—		231
Other natural gas revenues	11		—		—		—		—		11
Total natural gas revenues	242		—		—		—		—		242
Other revenues	310		54		132		11		11		—
Total revenue from contracts with customers	6,241		1,696		2,047		367		405		1,829
Other revenue sources(*)	239		(49)		129		23		103		46
Total operating revenues	$	6,480	$	1,647	$	2,176	$	390	$	508	$	1,875

(*)Other revenue sources relate to revenues from customers accounted for as derivatives and leases, alternative revenue programs at Southern Company Gas, and cost recovery mechanisms and revenues (including those related to fuel costs) that meet other scope exceptions for revenues from contracts with customers at the traditional electric operating companies.

Schedule of Contract Balances

The following table reflects the closing balances of receivables, contract assets, and contract liabilities related to revenues from contracts with customers at March 31, 2024 and December 31, 2023:

	Southern Company		Alabama Power		Georgia Power		Mississippi Power		Southern Power		Southern Company Gas
	(in millions)
Accounts Receivable
At March 31, 2024	$	2,793	$	737	$	986	$	80	$	80	$	699
At December 31, 2023	2,820		821		1,011		90		122		684
Contract Assets
At March 31, 2024	$	290	$	3	$	119	$	—	$	—	$	59
At December 31, 2023	271		2		121		—		—		56
Contract Liabilities
At March 31, 2024	$	207	$	—	$	19	$	—	$	1	$	—
At December 31, 2023	116		—		1		—		4		—

Schedule of Remaining Performance Obligations

Revenues from contracts with customers related to these performance obligations remaining at March 31, 2024 are expected to be recognized as follows:

	2024 (remaining)		2025		2026		2027		2028		Thereafter
	(in millions)
Southern Company	$	882	$	597	$	343	$	430	$	325	$	2,052
Alabama Power	18		9		—		—		—		—
Georgia Power	58		50		18		17		17		17
Mississippi Power(*)	45		63		66		69		73		—
Southern Power(*)	284		301		299		306		297		2,041
Southern Company Gas	18		—		—		—		—		—

(*)Includes performance obligations related to affiliate PPAs with Georgia Power. See Note 1 to the financial statements under "Affiliate Transactions" in Item 8 of the Form 10-K for additional information.

Schedule of Lease Income

Lease income for the three months ended March 31, 2024 and 2023 is as follows:

	Southern Company		Alabama Power		Georgia Power		Mississippi Power		Southern Power		Southern Company Gas
	(in millions)
For the Three Months Ended March 31, 2024
Lease income - interest income on sales-type leases	$	5	$	—	$	—	$	3	$	2	$	—
Lease income - operating leases	35		3		7		1		21		9
Variable lease income	72		—		—		—		79		—
Total lease income	$	112	$	3	$	7	$	4	$	102	$	9
For the Three Months Ended March 31, 2023
Lease income - interest income on sales-type leases	$	6	$	—	$	—	$	4	$	2	$	—
Lease income - operating leases	49		18		7		1		21		9
Variable lease income	69		—		—		—		75		—
Total lease income	$	124	$	18	$	7	$	5	$	98	$	9