Consolidated Balance Sheets - Southern - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Current Assets:
Cash and cash equivalents	$ 1,639	$ 1,070
Receivables —
Customer accounts	2,251	2,228
Unbilled revenues	931	825
Regulatory assets – under recovered retail fuel clause revenues	316	713
Other accounts and notes	655	597
Accumulated provision for uncollectible accounts	(84)	(74)
Materials and supplies	2,202	2,178
Fossil fuel for generation	735	803
Natural gas for sale	396	388
Prepaid expenses	327	294
Assets from risk management activities, net of collateral	63	39
Regulatory assets – asset retirement obligations	353	353
Other regulatory assets	709	804
Other current assets	424	476
Total current assets	10,917	10,694
Property, Plant, and Equipment:
In service	146,114	137,143
Less: Accumulated depreciation	43,483	40,126
Plant in service, net of depreciation	102,631	97,017
Other utility plant, net	307	410
Nuclear fuel, at amortized cost	897	873
Construction work in progress	10,534	6,389
Total property, plant, and equipment	114,369	104,689
Other Property and Investments:
Goodwill	5,161	5,161
Nuclear decommissioning trusts, at fair value	2,947	2,621
Equity investments in unconsolidated subsidiaries	1,318	1,416
Other intangible assets, net of amortization	300	332
Miscellaneous property and investments	714	668
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
Deferred charges related to income taxes	948	889
Prepaid pension and other postretirement benefit costs	3,257	2,674
Unamortized loss on reacquired debt	187	203
Deferred under recovered retail fuel clause revenues	252	485
Regulatory assets – asset retirement obligations, deferred	5,129	5,458
Other regulatory assets, deferred	7,427	7,037
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	3,710	3,701
Customer deposits	475	486
Accrued taxes —
Accrued income taxes	22	57
Other accrued taxes	982	997
Accrued interest	807	682
Accrued compensation	1,418	1,261
Asset retirement obligations	662	731
Liabilities from risk management activities, net of collateral	118	160
Operating lease obligations	197	200
Natural gas cost over recovery	158	193
Other regulatory liabilities	240	369
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
Deferred credits related to income taxes	4,712	4,434
Accumulated deferred ITCs	2,002	2,056
Employee benefit obligations	980	1,011
Operating lease obligations, deferred	1,287	1,253
Asset retirement obligations, deferred	8,939	9,203
Other cost of removal obligations	2,036	2,016
Other regulatory liabilities, deferred	722	692
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
Treasury, at cost	(59)	(59)
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	38,867	36,674
Total Liabilities and Stockholders' Equity	155,720	145,180
Commitments and Contingent Matters