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Condensed Consolidated Statements of Income (Unaudited) (USD $)
Share data in Millions, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Operating Revenues:        
Total operating revenues $ 4,467,000,000 $ 4,246,000,000 $ 9,111,000,000 $ 8,143,000,000
Other Income and (Expense):        
Consolidated Net Income After Dividends on Preferred and Preference Stock of Subsidiaries 611,000,000 [1],[2] 297,000,000 [1],[2] 962,000,000 [1],[3] 378,000,000 [1],[3]
Southern Company [Member]
       
Operating Revenues:        
Retail revenues 3,770,000,000 3,620,000,000 7,628,000,000 6,918,000,000
Wholesale revenues 515,000,000 454,000,000 1,119,000,000 886,000,000
Other electric revenues 169,000,000 156,000,000 334,000,000 311,000,000
Other revenues 13,000,000 16,000,000 30,000,000 28,000,000
Total operating revenues 4,467,000,000 4,246,000,000 9,111,000,000 8,143,000,000
Operating Expenses:        
Fuel 1,462,000,000 1,374,000,000 3,109,000,000 2,636,000,000
Purchased power 133,000,000 127,000,000 320,000,000 222,000,000
Other operations and maintenance 1,019,000,000 947,000,000 2,005,000,000 1,921,000,000
Depreciation and amortization 504,000,000 476,000,000 1,001,000,000 942,000,000
Taxes other than income taxes 246,000,000 232,000,000 493,000,000 467,000,000
Estimated loss on Kemper IGCC 0 450,000,000 380,000,000 990,000,000
Total operating expenses 3,364,000,000 3,606,000,000 7,308,000,000 7,178,000,000
Operating Income 1,103,000,000 640,000,000 1,803,000,000 965,000,000
Other Income and (Expense):        
Allowance for equity funds used during construction 62,000,000 45,000,000 119,000,000 86,000,000
Interest expense, net of amounts capitalized (210,000,000) (215,000,000) (416,000,000) (426,000,000)
Other income (expense), net (6,000,000) 1,000,000 (13,000,000) (26,000,000)
Total other income and (expense) (154,000,000) (169,000,000) (310,000,000) (366,000,000)
Earnings Before Income Taxes 949,000,000 471,000,000 1,493,000,000 599,000,000
Income taxes 321,000,000 158,000,000 497,000,000 189,000,000
Consolidated Net Income 628,000,000 313,000,000 996,000,000 410,000,000
Less: Net income attributable to noncontrolling interest 17,000,000 16,000,000 34,000,000 32,000,000
Consolidated Net Income After Dividends on Preferred and Preference Stock of Subsidiaries 611,000,000 297,000,000 962,000,000 378,000,000
Earnings per share (EPS) -        
Basic EPS (in dollars per share) $ 0.68 $ 0.34 $ 1.08 $ 0.43
Diluted EPS (in dollars per share) $ 0.68 $ 0.34 $ 1.07 $ 0.43
Average number of shares of common stock outstanding (in millions)        
Basic (in shares) 895 874 892 872
Diluted (in shares) 899 879 896 877
Cash dividends paid per share of common stock $ 0.5250 $ 0.5075 $ 1.0325 $ 0.9975
Alabama Power [Member]
       
Operating Revenues:        
Retail revenues 1,249,000,000 1,221,000,000 2,546,000,000 2,362,000,000
Wholesale revenues, non-affiliates 65,000,000 61,000,000 150,000,000 120,000,000
Wholesale revenues, affiliates 68,000,000 60,000,000 137,000,000 116,000,000
Other revenues 55,000,000 50,000,000 112,000,000 102,000,000
Total operating revenues 1,437,000,000 1,392,000,000 2,945,000,000 2,700,000,000
Operating Expenses:        
Fuel 414,000,000 401,000,000 846,000,000 773,000,000
Purchased power, non-affiliates 39,000,000 28,000,000 96,000,000 48,000,000
Purchased power, affiliates 37,000,000 41,000,000 86,000,000 72,000,000
Other operations and maintenance 330,000,000 319,000,000 655,000,000 649,000,000
Depreciation and amortization 172,000,000 159,000,000 347,000,000 317,000,000
Taxes other than income taxes 88,000,000 87,000,000 177,000,000 177,000,000
Total operating expenses 1,080,000,000 1,035,000,000 2,207,000,000 2,036,000,000
Operating Income 357,000,000 357,000,000 738,000,000 664,000,000
Other Income and (Expense):        
Allowance for equity funds used during construction 11,000,000 8,000,000 21,000,000 16,000,000
Interest expense, net of amounts capitalized (63,000,000) (65,000,000) (125,000,000) (131,000,000)
Other income (expense), net (3,000,000) 2,000,000 (8,000,000) 1,000,000
Total other income and (expense) (55,000,000) (55,000,000) (112,000,000) (114,000,000)
Earnings Before Income Taxes 302,000,000 302,000,000 626,000,000 550,000,000
Income taxes 119,000,000 119,000,000 246,000,000 216,000,000
Consolidated Net Income 183,000,000 183,000,000 380,000,000 334,000,000
Dividends on Preferred and Preference Stock 10,000,000 10,000,000 20,000,000 20,000,000
Consolidated Net Income After Dividends on Preferred and Preference Stock of Subsidiaries 173,000,000 173,000,000 360,000,000 314,000,000
Georgia Power [Member]
       
Operating Revenues:        
Retail revenues 2,000,000,000 1,879,000,000 4,050,000,000 3,608,000,000
Wholesale revenues, non-affiliates 80,000,000 73,000,000 189,000,000 135,000,000
Wholesale revenues, affiliates 10,000,000 5,000,000 31,000,000 11,000,000
Other revenues 96,000,000 85,000,000 185,000,000 170,000,000
Total operating revenues 2,186,000,000 2,042,000,000 4,455,000,000 3,924,000,000
Operating Expenses:        
Fuel 619,000,000 557,000,000 1,371,000,000 1,076,000,000
Purchased power, non-affiliates 63,000,000 61,000,000 142,000,000 111,000,000
Purchased power, affiliates 166,000,000 176,000,000 350,000,000 351,000,000
Other operations and maintenance 451,000,000 397,000,000 878,000,000 828,000,000
Depreciation and amortization 209,000,000 204,000,000 417,000,000 404,000,000
Taxes other than income taxes 106,000,000 95,000,000 209,000,000 190,000,000
Total operating expenses 1,614,000,000 1,490,000,000 3,367,000,000 2,960,000,000
Operating Income 572,000,000 552,000,000 1,088,000,000 964,000,000
Other Income and (Expense):        
Allowance for equity funds used during construction 10,000,000 7,000,000 16,000,000 13,000,000
Interest expense, net of amounts capitalized (90,000,000) (96,000,000) (174,000,000) (187,000,000)
Other income (expense), net 1,000,000 1,000,000 (1,000,000) (1,000,000)
Total other income and (expense) (79,000,000) (88,000,000) (159,000,000) (175,000,000)
Earnings Before Income Taxes 493,000,000 464,000,000 929,000,000 789,000,000
Income taxes 177,000,000 177,000,000 343,000,000 301,000,000
Consolidated Net Income 316,000,000 287,000,000 586,000,000 488,000,000
Dividends on Preferred and Preference Stock 5,000,000 5,000,000 9,000,000 9,000,000
Consolidated Net Income After Dividends on Preferred and Preference Stock of Subsidiaries 311,000,000 282,000,000 577,000,000 479,000,000
Gulf Power [Member]
       
Operating Revenues:        
Retail revenues 310,344,000 305,550,000 613,464,000 565,427,000
Wholesale revenues, non-affiliates 34,335,000 31,894,000 69,927,000 53,102,000
Wholesale revenues, affiliates 23,627,000 19,050,000 76,405,000 48,505,000
Other revenues 15,225,000 14,679,000 30,867,000 30,413,000
Total operating revenues 383,531,000 371,173,000 790,663,000 697,447,000
Operating Expenses:        
Fuel 145,244,000 140,347,000 313,666,000 261,193,000
Purchased power, non-affiliates 14,331,000 13,054,000 29,792,000 24,189,000
Purchased power, affiliates 9,184,000 10,934,000 15,688,000 14,246,000
Other operations and maintenance 81,127,000 76,846,000 165,328,000 155,508,000
Depreciation and amortization 39,010,000 37,081,000 70,867,000 74,134,000
Taxes other than income taxes 25,758,000 23,760,000 52,557,000 47,386,000
Total operating expenses 314,654,000 302,022,000 647,898,000 576,656,000
Operating Income 68,877,000 69,151,000 142,765,000 120,791,000
Other Income and (Expense):        
Allowance for equity funds used during construction 2,702,000 1,521,000 5,081,000 2,655,000
Interest expense, net of amounts capitalized (13,294,000) (14,293,000) (26,558,000) (28,662,000)
Other income (expense), net (505,000) (1,391,000) (1,230,000) (2,367,000)
Total other income and (expense) (11,097,000) (14,163,000) (22,707,000) (28,374,000)
Earnings Before Income Taxes 57,780,000 54,988,000 120,058,000 92,417,000
Income taxes 21,433,000 20,755,000 44,717,000 34,841,000
Consolidated Net Income 36,347,000 34,233,000 75,341,000 57,576,000
Dividends on Preferred and Preference Stock 2,250,000 1,651,000 4,501,000 3,202,000
Consolidated Net Income After Dividends on Preferred and Preference Stock of Subsidiaries 34,097,000 32,582,000 70,840,000 54,374,000
Mississippi Power [Member]
       
Operating Revenues:        
Retail revenues 211,326,000 214,254,000 418,364,000 382,564,000
Wholesale revenues, non-affiliates 74,972,000 71,938,000 171,690,000 137,047,000
Wholesale revenues, affiliates 20,165,000 15,902,000 42,954,000 24,243,000
Other revenues 4,512,000 4,341,000 9,128,000 8,515,000
Total operating revenues 310,975,000 306,435,000 642,136,000 552,369,000
Operating Expenses:        
Fuel 143,317,000 142,193,000 290,268,000 246,757,000
Purchased power, non-affiliates 1,194,000 1,778,000 12,688,000 3,145,000
Purchased power, affiliates 5,735,000 3,922,000 14,664,000 13,611,000
Other operations and maintenance 60,070,000 54,456,000 126,165,000 109,268,000
Depreciation and amortization 24,242,000 22,209,000 46,936,000 45,442,000
Taxes other than income taxes 20,396,000 20,272,000 40,854,000 39,689,000
Estimated loss on Kemper IGCC 0 450,000,000 380,000,000 912,000,000
Total operating expenses 254,954,000 694,830,000 911,575,000 1,369,912,000
Operating Income 56,021,000 (388,395,000) (269,439,000) (817,543,000)
Other Income and (Expense):        
Allowance for equity funds used during construction 37,380,000 29,042,000 75,462,000 55,116,000
Interest expense, net of amounts capitalized (12,620,000) (10,389,000) (24,655,000) (20,798,000)
Other income (expense), net (1,933,000) (2,262,000) (3,732,000) (3,809,000)
Total other income and (expense) 22,827,000 16,391,000 47,075,000 30,509,000
Earnings Before Income Taxes 78,848,000 (372,004,000) (222,364,000) (787,034,000)
Income taxes 15,920,000 (153,327,000) (113,677,000) (322,469,000)
Consolidated Net Income 62,928,000 (218,677,000) (108,687,000) (464,565,000)
Dividends on Preferred and Preference Stock 433,000 433,000 866,000 866,000
Consolidated Net Income After Dividends on Preferred and Preference Stock of Subsidiaries 62,495,000 (219,110,000) (109,553,000) (465,431,000)
Southern Power [Member]
       
Operating Revenues:        
Wholesale revenues, non-affiliates 260,347,000 216,647,000 538,215,000 440,076,000
Wholesale revenues, affiliates 67,563,000 88,638,000 139,896,000 166,829,000
Other revenues 893,000 1,970,000 1,546,000 3,297,000
Total operating revenues 328,803,000 307,255,000 679,657,000 610,202,000
Operating Expenses:        
Fuel 118,053,000 110,630,000 242,615,000 230,002,000
Purchased power, non-affiliates 16,594,000 22,307,000 44,487,000 36,880,000
Purchased power, affiliates 16,493,000 6,282,000 45,679,000 14,147,000
Other operations and maintenance 69,330,000 62,661,000 122,045,000 113,611,000
Depreciation and amortization 51,559,000 44,898,000 103,016,000 85,058,000
Taxes other than income taxes 5,701,000 5,453,000 11,384,000 10,807,000
Total operating expenses 277,730,000 252,231,000 569,226,000 490,505,000
Operating Income 51,073,000 55,024,000 110,431,000 119,697,000
Other Income and (Expense):        
Interest expense, net of amounts capitalized (21,966,000) (20,568,000) (43,969,000) (40,962,000)
Other income (expense), net (32,000) (1,691,000) 85,000 (1,948,000)
Total other income and (expense) (21,998,000) (22,259,000) (43,884,000) (42,910,000)
Earnings Before Income Taxes 29,075,000 32,765,000 66,547,000 76,787,000
Income taxes (2,969,000) 4,843,000 217,000 19,673,000
Consolidated Net Income 32,044,000 27,922,000 66,330,000 57,114,000
Less: Net income attributable to noncontrolling interest 1,232,000 0 2,047,000 0
Average number of shares of common stock outstanding (in millions)        
Net income attributable to Southern Power Company $ 30,812,000 $ 27,922,000 $ 64,283,000 $ 57,114,000
[1] After dividends on preferred and preference stock of subsidiaries.
[2] Segment net income (loss) for the traditional operating companies for the three months ended June 30, 2013 includes a $450.0 million pre-tax charge ($277.9 million after tax) for an estimated probable loss on the Kemper IGCC. See Note (B) under "Integrated Coal Gasification Combined Cycle – Kemper IGCC Schedule and Cost Estimate" herein for additional information.
[3] Segment net income (loss) for the traditional operating companies for the six months ended June 30, 2014 and June 30, 2013 includes $380.0 million in pre-tax charges ($234.7 million after tax) and $990.0 million in pre-tax charges ($611.3 million after tax), respectively, for estimated probable losses on the Kemper IGCC. See Note (B) under "Integrated Coal Gasification Combined Cycle – Kemper IGCC Schedule and Cost Estimate" herein for additional information.