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Segment and Related Information (Tables)
9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
Schedule of Financial Data for Business Segments
Financial data for business segments and products and services for the three and nine months ended September 30, 2024 and 2023 was as follows:
Electric Utilities
Traditional
Electric Operating
Companies
Southern
Power
EliminationsTotalSouthern Company GasAll
Other
EliminationsConsolidated
(in millions)
Three Months Ended September 30, 2024
Operating revenues$5,927 $600 $(105)$6,422 $682 $215 $(45)$7,274 
Segment net income (loss)(a)(b)
1,618 82  1,700 38 (201)(2)1,535 
Nine Months Ended September 30, 2024
Operating revenues$15,389 $1,597 $(293)$16,693 $3,220 $598 $(128)$20,383 
Segment net income (loss)(a)(b)(c)
3,630 264  3,894 555 (569)(13)3,867 
At September 30, 2024
Goodwill$ $2 $ $2 $5,015 $144 $ $5,161 
Total assets104,565 12,646 (547)116,664 25,545 2,347 (600)143,956 
Three Months Ended September 30, 2023
Operating revenues$5,674 $653 $(160)$6,167 $689 $154 $(30)$6,980 
Segment net income (loss)(a)(c)(d)
1,419 100 — 1,519 82 (179)— 1,422 
Nine Months Ended September 30, 2023
Operating revenues$14,145 $1,686 $(417)$15,414 $3,417 $499 $(122)$19,208 
Segment net income (loss)(a)(c)(d)(e)
2,852 288 — 3,140 475 (490)(4)3,121 
At December 31, 2023
Goodwill$— $$— $$5,015 $144 $— $5,161 
Total assets100,429 12,761 (545)112,645 25,083 2,446 (843)139,331 
(a)Attributable to Southern Company.
(b)For the traditional electric operating companies, includes a pre-tax impairment loss at Alabama Power of $36 million ($27 million after tax) related to Alabama Power discontinuing the development of a multi-use commercial facility. See Note (A) under "Impairment of Long-Lived Assets" for additional information.
(c)For the traditional electric operating companies, includes pre-tax charges (credits) to income at Georgia Power related to the estimated probable loss associated with the construction and completion of Plant Vogtle Units 3 and 4 of $(21) million ($(16) million after tax) for the nine months ended September 30, 2024 and $160 million ($120 million after tax) for the three and nine months ended September 30, 2023. Also includes a pre-tax gain at Georgia Power of approximately $114 million ($84 million after tax) for the nine months ended September 30, 2024 related to the sale of transmission line assets under the integrated transmission system agreement. See Note (B) under "Georgia Power" and Note 2 to the financial statements under "Georgia Power – Nuclear Construction" in Item 8 of the Form 10-K for additional information.
(d)For Southern Power, includes an $18 million pre-tax loss recovery ($9 million after tax and partnership allocations) for the three and nine months ended September 30, 2023 related to an arbitration award and a $16 million pre-tax gain ($12 million after tax) on the sale of spare parts for the nine months ended September 30, 2023. See Note (C) under "General Litigation Matters – Southern Power" for additional information related to the arbitration award.
(e)For Southern Company Gas, includes a pre-tax charge of approximately $38 million ($28 million after tax) associated with the disallowance of certain capital expenditures at Nicor Gas. See Note 2 to the financial statements under "Southern Company Gas" in Item 8 of the Form 10-K for additional information.
Business segment financial data for the three and nine months ended September 30, 2024 and 2023 was as follows:
Gas Distribution OperationsGas
Pipeline Investments
Gas Marketing ServicesTotalAll OtherEliminationsConsolidated
(in millions)
Three Months Ended September 30, 2024
Operating revenues$616 $8 $53 $677 $6 $(1)$682 
Segment net income
21 24 (2)43 (5) 38 
Nine Months Ended September 30, 2024
Operating revenues$2,828 $24 $358 $3,210 $19 $(9)$3,220 
Segment net income
403 77 72 552 3  555 
Total assets at September 30, 2024
23,543 1,573 1,619 26,735 9,910 (11,100)25,545 
Three Months Ended September 30, 2023
Operating revenues$619 $$56 $683 $$(2)$689 
Segment net income (loss)
70 24 96 (14)— 82 
Nine Months Ended September 30, 2023
Operating revenues$3,002 $24 $376 $3,402 $30 $(15)$3,417 
Segment net income(*)
352 73 59 484 (9)— 475 
Total assets at December 31, 2023
22,906 1,534 1,615 26,055 9,675 (10,647)25,083 
(*)For gas distribution operations, includes a pre-tax charge of approximately $38 million ($28 million after tax) associated with the disallowance of certain capital expenditures at Nicor Gas. See Note 2 to the financial statements under "Southern Company Gas" in Item 8 of the Form 10-K for additional information.
Schedule of Financial Data for Products and Services
 Electric Utilities' Revenues
RetailWholesaleOtherTotal
(in millions)
Three Months Ended September 30, 2024$5,366 $721 $335 $6,422 
Three Months Ended September 30, 20235,139 727 301 6,167 
Nine Months Ended September 30, 2024$13,793 $1,919 $981 $16,693 
Nine Months Ended September 30, 202312,597 1,930 887 15,414 
 Southern Company Gas' Revenues
Gas
Distribution
Operations
Gas
Marketing
Services
OtherTotal
(in millions)
Three Months Ended September 30, 2024$616 $53 $13 $682 
Three Months Ended September 30, 2023617 56 16 689 
Nine Months Ended September 30, 2024$2,828 $358 $34 $3,220 
Nine Months Ended September 30, 20232,989 376 52 3,417