Introduction (Tables)

6 Months Ended

Jun. 30, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Goodwill

Goodwill at both June 30, 2025 and December 31, 2024 was as follows:

	Goodwill
	(in millions)
Southern Company	$	5,161
Southern Company Gas:
Gas distribution operations	$	4,034
Gas marketing services	981
Southern Company Gas total	$	5,015

Schedule of Other Intangible Assets, Indefinite-Lived

Other intangible assets were as follows:

	At June 30, 2025						At December 31, 2024
	Gross Carrying Amount		Accumulated Amortization		Other Intangible Assets, Net		Gross Carrying Amount		Accumulated Amortization		Other Intangible Assets, Net
	(in millions)						(in millions)
Southern Company
Subject to amortization:
Customer relationships	$	212	$	(184)	$	28	$	212	$	(182)	$	30
Trade names	64		(63)		1		64		(59)		5
PPA fair value adjustments	390		(178)		212		390		(168)		222
Other	3		(3)		—		3		(3)		—
Total subject to amortization	$	669	$	(428)	$	241	$	669	$	(412)	$	257
Not subject to amortization:
FCC licenses	75		—		75		75		—		75
Total other intangible assets	$	744	$	(428)	$	316	$	744	$	(412)	$	332
Southern Power(*)
PPA fair value adjustments	$	390	$	(178)	$	212	$	390	$	(168)	$	222
Southern Company Gas(*)
Gas marketing services
Customer relationships	$	156	$	(151)	$	5	$	156	$	(150)	$	6
Trade names	26		(25)		1		26		(23)		3
Total other intangible assets	$	182	$	(176)	$	6	$	182	$	(173)	$	9

(*)All subject to amortization.

Schedule of Other Intangible Assets, Finite-Lived

Other intangible assets were as follows:

	At June 30, 2025						At December 31, 2024
	Gross Carrying Amount		Accumulated Amortization		Other Intangible Assets, Net		Gross Carrying Amount		Accumulated Amortization		Other Intangible Assets, Net
	(in millions)						(in millions)
Southern Company
Subject to amortization:
Customer relationships	$	212	$	(184)	$	28	$	212	$	(182)	$	30
Trade names	64		(63)		1		64		(59)		5
PPA fair value adjustments	390		(178)		212		390		(168)		222
Other	3		(3)		—		3		(3)		—
Total subject to amortization	$	669	$	(428)	$	241	$	669	$	(412)	$	257
Not subject to amortization:
FCC licenses	75		—		75		75		—		75
Total other intangible assets	$	744	$	(428)	$	316	$	744	$	(412)	$	332
Southern Power(*)
PPA fair value adjustments	$	390	$	(178)	$	212	$	390	$	(168)	$	222
Southern Company Gas(*)
Gas marketing services
Customer relationships	$	156	$	(151)	$	5	$	156	$	(150)	$	6
Trade names	26		(25)		1		26		(23)		3
Total other intangible assets	$	182	$	(176)	$	6	$	182	$	(173)	$	9

(*)All subject to amortization.

Schedule of Amortization of Other Intangible Assets

Amortization associated with other intangible assets was as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
	(in millions)
Southern Company(a)	$	8	$	9	$	16	$	18
Southern Power(b)	5		5		10		10
Southern Company Gas
Gas marketing services	1		1		3		3

(a)Includes $5 million for the three months ended June 30, 2025 and 2024 and $10 million for the six months ended June 30, 2025 and 2024 recorded as a reduction to operating revenues.

(b)Recorded as a reduction to operating revenues.

Schedule of Restrictions on Cash and Cash Equivalents

The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the condensed balance sheets that total to the amount shown in the condensed statements of cash flows for the applicable Registrants:

	Southern Company		Georgia Power		Southern Power		Southern Company Gas
	(in millions)
At June 30, 2025
Cash and cash equivalents	$	1,264	$	94	$	143	$	225
Restricted cash(*):
Other current assets	1		—		—		—
Total cash, cash equivalents, and restricted cash	$	1,265	$	94	$	143	$	225
At December 31, 2024
Cash and cash equivalents	$	1,070	$	97	$	159	$	43
Restricted cash(*):
Other current assets	31		21		9		1
Total cash, cash equivalents, and restricted cash	$	1,101	$	118	$	168	$	44

(*)For Georgia Power, reflects remaining proceeds held at December 31, 2024 from the issuance of solid waste disposal facility revenue bonds in 2022. For Southern Power, reflects remaining proceeds held at December 31, 2024 from an arbitration award held to fund future replacement costs. For Southern Company, also reflects collateral of $1 million for life insurance and long-term disability insurance, which was included at Southern Holdings and Southern Company Gas at June 30, 2025 and December 31, 2024, respectively.

Schedule of Cash and Cash Equivalents

The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the condensed balance sheets that total to the amount shown in the condensed statements of cash flows for the applicable Registrants:

	Southern Company		Georgia Power		Southern Power		Southern Company Gas
	(in millions)
At June 30, 2025
Cash and cash equivalents	$	1,264	$	94	$	143	$	225
Restricted cash(*):
Other current assets	1		—		—		—
Total cash, cash equivalents, and restricted cash	$	1,265	$	94	$	143	$	225
At December 31, 2024
Cash and cash equivalents	$	1,070	$	97	$	159	$	43
Restricted cash(*):
Other current assets	31		21		9		1
Total cash, cash equivalents, and restricted cash	$	1,101	$	118	$	168	$	44

(*)For Georgia Power, reflects remaining proceeds held at December 31, 2024 from the issuance of solid waste disposal facility revenue bonds in 2022. For Southern Power, reflects remaining proceeds held at December 31, 2024 from an arbitration award held to fund future replacement costs. For Southern Company, also reflects collateral of $1 million for life insurance and long-term disability insurance, which was included at Southern Holdings and Southern Company Gas at June 30, 2025 and December 31, 2024, respectively.

Schedule of Storm Damage Reserve Activity

Storm damage reserve activity for the traditional electric operating companies during the six months ended June 30, 2025 was as follows:

	Southern Company		Alabama Power		Georgia Power		Mississippi Power
	(in millions)
Balance at December 31, 2024	$	(705)	$	70	$	(827)	$	52
Accrual(*)	36		13		16		7
Weather-related damages	(198)		(85)		(106)		(7)
Balance at June 30, 2025	$	(867)	$	(2)	$	(917)	$	52

(*)For Alabama Power, includes $7 million of undistributed customer bill credits related to the nuclear fuel disposal costs litigation award, as directed by the Alabama PSC in its December 2024 order. See Note 3 to the financial statements under "Nuclear Fuel Disposal Costs" in Item 8 of the Form 10-K for additional information.