Commitments (Tables)

12 Months Ended

Dec. 31, 2014

Estimated minimum long-term purchase commitments

Estimated total obligations under these commitments at December 31, 2014 were as follows:



	Operating Leases ⁽¹⁾		Other
	(in millions)
2015	$	230	$	11
2016	234		11
2017	264		10
2018	270		7
2019	274		6
2020 and thereafter	1,980		50
Total	$	3,252	$	95


(1)	A total of $1.1 billion of biomass PPAs included under operating leases is contingent upon the counterparties meeting specified contract dates for commercial operation and may change as a result of regulatory action.

Estimated minimum lease payments under operating leases

As of December 31, 2014, estimated minimum lease payments under operating leases were as follows:



	Minimum Lease Payments
	Barges & Railcars		Other		Total
	(in millions)
2015	$	50	$	50	$	100
2016	41		48		89
2017	18		47		65
2018	9		35		44
2019	6		23		29
2020 and thereafter	20		228		248
Total	$	144	$	431	$	575

Alabama Power [Member]

Commitments [Line Items]

Estimated minimum long-term purchase commitments

Total estimated minimum long-term obligations at December 31, 2014 were as follows:



	Operating Lease PPAs
	(in millions)
2015	$	37
2016	39
2017	40
2018	41
2019	43
2020 and thereafter	137
Total commitments	$	337

Estimated minimum lease payments under operating leases

As of December 31, 2014, estimated minimum lease payments under operating leases were as follows:



	Minimum Lease Payments
	Railcars		Vehicles & Other		Total
	(in millions)
2015	$	13	$	3	$	16
2016	11		3		14
2017	7		3		10
2018	5		1		6
2019	5		—		5
2020 and thereafter	17		—		17
Total	$	58	$	10	$	68

Georgia Power [Member]

Commitments [Line Items]

Estimated long-term obligations

Estimated total long-term obligations at December 31, 2014 were as follows:



	Affiliate Capital Leases		Affiliate Operating Leases		Non-Affiliate Operating Leases ⁽⁴⁾		Vogtle Units 1 and 2 Capacity Payments		Total ($)
	(in millions)
2015	$	22	$	90	$	114	$	11	$	237
2016	22		100		117		11		250
2017	23		71		146		10		250
2018	23		62		150		7		242
2019	23		63		152		6		244
2020 and thereafter	255		606		1,572		50		2,483
Total	$	368	$	992	$	2,251	$	95	$	3,706
Less: amounts representing executory costs⁽¹⁾	55
Net minimum lease payments	313
Less: amounts representing interest⁽²⁾	85
Present value of net minimum lease payments⁽³⁾	$	228


(1)	Executory costs such as taxes, maintenance, and insurance (including the estimated profit thereon) are estimated and included in total minimum lease payments.


(2)	Amount necessary to reduce minimum lease payments to present value calculated at the Company's incremental borrowing rate at the inception of the leases.


(3)	Once service commences under the PPAs beginning in 2015, the Company will recognize capital lease assets and capital lease obligations totaling $149 million, being the lesser of the estimated fair value of the lease property or the present value of the net minimum lease payments.


(4)	A total of $1.1 billion of biomass PPAs included under the non-affiliate operating leases is contingent upon the counterparties meeting specified contract dates for commercial operation and may change as a result of regulatory action.

Estimated minimum lease payments under operating leases

As of December 31, 2014, estimated minimum lease payments under operating leases were as follows:



	Minimum Lease Payments
	Railcars		Other		Total
	(in millions)
2015	$	18	$	7	$	25
2016	13		7		20
2017	9		7		16
2018	4		6		10
2019	1		4		5
2020 and thereafter	3		11		14
Total	$	48	$	42	$	90

Gulf Power [Member]

Commitments [Line Items]

Estimated minimum long-term purchase commitments

Estimated total minimum long-term commitments at December 31, 2014 were as follows:



	Operating Lease PPAs
	(in millions)
2015	$	78.7
2016	78.7
2017	78.8
2018	78.9
2019	78.9
2020 and thereafter	270.3
Total	$	664.3

Estimated minimum lease payments under operating leases

Estimated total minimum lease payments under these operating leases at December 31, 2014 were as follows:



	Minimum Lease Payments
	Barges & Railcars		Other		Total
	(in millions)
2015	$	15.1	$	0.1	$	15.2
2016	15.0		0.1		15.1
2017	1.4		0.1		1.5
Total	$	31.5	$	0.3	$	31.8

- Definition

Tabular disclosure of a lessee's leasing arrangements including: (1) the basis on which contingent rental payments are determined, (2) the existence and terms of renewal or purchase options and escalation clauses, (3) restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing, (4) rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions. Disclosure may also include the specific period used to amortize material leasehold improvements made at the inception of the lease or during the lease term. Additionally, for operating leases having initial or remaining noncancelable lease terms in excess of one year: (a) future minimum rental payments required as of the date of the latest balance sheet presented, in the aggregate and for each of the five succeeding fiscal years, (b) the total of minimum rentals to be received in the future under noncancelable subleases as of the date of the latest balance sheet presented, and (c) for all operating leases, rental expense for each period for which an income statement is presented, with separate amounts for minimum rentals, contingent rentals, and sublease rentals. Rental payments under leases with terms of a month or less that were not renewed need not be included.

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