Consolidated Balance Sheets - SPC - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Current Assets:
Cash and cash equivalents	$ 1,639	$ 1,070
Receivables —
Customer accounts, net and affiliated	2,251	2,228
Other	655	597
Materials and supplies	2,202	2,178
Other current assets	424	476
Total current assets	10,917	10,694
Property, Plant, and Equipment:
In service	146,114	137,143
Less: Accumulated provision for depreciation	43,483	40,126
Plant in service, net of depreciation	102,631	97,017
Construction work in progress	10,534	6,389
Total property, plant, and equipment	114,369	104,689
Other Property and Investments:
Other Property and Investments	10,440	10,198
Deferred Charges and Other Assets:
Operating lease right-of-use assets, net of amortization	1,358	1,386
Other deferred charges and assets	1,436	1,467
Total deferred charges and other assets	19,994	19,599
Total Assets	155,720	145,180
Current Liabilities:
Securities due within one year	6,220	4,718
Notes payable	722	1,338
Accounts payable —
Accrued interest	807	682
Operating lease obligations	197	200
Other current liabilities	1,157	1,100
Total current liabilities	16,888	15,993
Long-Term Debt	65,649	58,768
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes	12,133	11,730
Accumulated deferred ITCs	2,002	2,056
Operating lease obligations, deferred	1,287	1,253
Other deferred credits and liabilities	1,505	1,350
Total deferred credits and other liabilities	34,316	33,745
Total Liabilities	116,853	108,506
Common Stockholders' Equity:
Common stock	5,554	5,446
Paid-in capital	15,740	14,149
Retained earnings	14,856	13,750
Accumulated other comprehensive income (loss)	(75)	(78)
Total common stockholders' equity	36,016	33,208
Noncontrolling Interests	2,851	3,466
Total Stockholders' Equity (See accompanying statements)	38,867	36,674
Total Liabilities and Stockholders' Equity	155,720	145,180
Commitments and Contingent Matters
Southern Power
Current Assets:
Cash and cash equivalents	105	159
Receivables —
Customer accounts, net and affiliated	151	122
Other	16	90
Materials and supplies	132	107
Other current assets	89	82
Total current assets	528	599
Property, Plant, and Equipment:
In service	15,034	14,961
Less: Accumulated provision for depreciation	5,214	4,540
Plant in service, net of depreciation	9,820	10,421
Construction work in progress	1,080	317
Total property, plant, and equipment	10,900	10,738
Other Property and Investments:
Intangible assets, net of amortization of $188 and $168, respectively	203	223
Net investment in sales-type leases	137	143
Other Property and Investments	340	366
Deferred Charges and Other Assets:
Operating lease right-of-use assets, net of amortization	479	484
Prepaid LTSAs	170	234
Other deferred charges and assets	240	232
Total deferred charges and other assets	889	950
Total Assets	12,657	12,653
Current Liabilities:
Securities due within one year	587	500
Notes payable	138	0
Accounts payable —
Affiliated and other	93	100
Accrued taxes	9	18
Accrued interest	38	26
Operating lease obligations	31	29
Other current liabilities	92	96
Total current liabilities	1,076	849
Long-Term Debt	2,353	2,180
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes	579	712
Accumulated deferred ITCs	1,383	1,440
Operating lease obligations, deferred	510	511
Other deferred credits and liabilities	235	279
Total deferred credits and other liabilities	2,707	2,942
Total Liabilities	6,136	5,971
Common Stockholders' Equity:
Common stock	0	0
Paid-in capital	1,912	1,306
Retained earnings	1,758	1,912
Accumulated other comprehensive income (loss)	0	(2)
Total common stockholders' equity	3,670	3,216
Noncontrolling Interests	2,851	3,466
Total Stockholders' Equity (See accompanying statements)	6,521	6,682
Total Liabilities and Stockholders' Equity	12,657	12,653
Commitments and Contingent Matters
Southern Power | Related Party
Receivables —
Customer accounts, net and affiliated	35	39
Accounts payable —
Affiliated and other	$ 88	$ 80