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v3.23.2

Revenue from Contracts with Customers and Lease Income (Tables) | 6 Months Ended
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Jun. 30, 2023
Revenue from Contract with Customer [Abstract] |
Schedule of Disaggregation of Revenue | The following table disaggregates revenue from contracts with customers for the three and six months ended June 30, 2023 and 2022:
| Southern Company | Alabama Power | Georgia Power | Mississippi Power | Southern Power | Southern Company Gas
| (in millions)
Three Months Ended June 30, 2023 |  |  |  |  |  |
Operating revenues |  |  |  |  |  |
Retail electric revenues |  |  |  |  |  |
Residential | $ | 1,647 |  | $ | 648 |  | $ | 928 |  | $ | 71 |  | $ | — |  | $ | — |
Commercial | 1,370 |  | 465 |  | 830 |  | 75 |  | — |  | — |
Industrial | 864 |  | 429 |  | 353 |  | 82 |  | — |  | — |
Other | 27 |  | 3 |  | 22 |  | 2 |  | — |  | — |
Total retail electric revenues | 3,908 |  | 1,545 |  | 2,133 |  | 230 |  | — |  | — |
Natural gas distribution revenues |  |  |  |  |  |
Residential | 330 |  | — |  | — |  | — |  | — |  | 330 |
Commercial | 82 |  | — |  | — |  | — |  | — |  | 82 |
Transportation | 284 |  | — |  | — |  | — |  | — |  | 284 |
Industrial | 6 |  | — |  | — |  | — |  | — |  | 6 |
Other | 51 |  | — |  | — |  | — |  | — |  | 51 |
Total natural gas distribution revenues | 753 |  | — |  | — |  | — |  | — |  | 753 |
Wholesale electric revenues |  |  |  |  |  |
PPA energy revenues | 253 |  | 58 |  | 24 |  | 2 |  | 175 |  | — |
PPA capacity revenues | 149 |  | 44 |  | 13 |  | 2 |  | 91 |  | — |
Non-PPA revenues | 61 |  | 12 |  | 6 |  | 70 |  | 83 |  | — |
Total wholesale electric revenues | 463 |  | 114 |  | 43 |  | 74 |  | 349 |  | — |
Other natural gas revenues |  |  |  |  |  |
Gas marketing services | 73 |  | — |  | — |  | — |  | — |  | 73 |
Other natural gas revenues | 8 |  | — |  | — |  | — |  | — |  | 8 |
Total natural gas revenues | 81 |  | — |  | — |  | — |  | — |  | 81 |
Other revenues | 327 |  | 43 |  | 145 |  | 10 |  | 16 |  | — |
Total revenue from contracts with customers | 5,532 |  | 1,702 |  | 2,321 |  | 314 |  | 365 |  | 834 |
Other revenue sources(*) | 216 |  | (13) |  | 70 |  | (3) |  | 160 |  | 18 |
Total operating revenues | $ | 5,748 |  | $ | 1,689 |  | $ | 2,391 |  | $ | 311 |  | $ | 525 |  | $ | 852 |
| Southern Company | Alabama Power | Georgia Power | Mississippi Power | Southern Power | Southern Company Gas
| (in millions)
Six Months Ended June 30, 2023 |  |  |  |  |  |
Operating revenues |  |  |  |  |  |
Retail electric revenues |  |  |  |  |  |
Residential | $ | 3,174 |  | $ | 1,308 |  | $ | 1,730 |  | $ | 136 |  | $ | — |  | $ | — |
Commercial | 2,619 |  | 894 |  | 1,582 |  | 143 |  | — |  | — |
Industrial | 1,653 |  | 827 |  | 666 |  | 160 |  | — |  | — |
Other | 54 |  | 6 |  | 44 |  | 4 |  | — |  | — |
Total retail electric revenues | 7,500 |  | 3,035 |  | 4,022 |  | 443 |  | — |  | — |
Natural gas distribution revenues |  |  |  |  |  |
Residential | 1,226 |  | — |  | — |  | — |  | — |  | 1,226 |
Commercial | 314 |  | — |  | — |  | — |  | — |  | 314 |
Transportation | 603 |  | — |  | — |  | — |  | — |  | 603 |
Industrial | 29 |  | — |  | — |  | — |  | — |  | 29 |
Other | 168 |  | — |  | — |  | — |  | — |  | 168 |
Total natural gas distribution revenues | 2,340 |  | — |  | — |  | — |  | — |  | 2,340 |
Wholesale electric revenues |  |  |  |  |  |
PPA energy revenues | 534 |  | 129 |  | 35 |  | 5 |  | 376 |  | — |
PPA capacity revenues | 341 |  | 105 |  | 25 |  | 34 |  | 179 |  | — |
Non-PPA revenues | 98 |  | 32 |  | 10 |  | 178 |  | 187 |  | — |
Total wholesale electric revenues | 973 |  | 266 |  | 70 |  | 217 |  | 742 |  | — |
Other natural gas revenues |  |  |  |  |  |
Gas marketing services | 304 |  | — |  | — |  | — |  | — |  | 304 |
Other natural gas revenues | 20 |  | — |  | — |  | — |  | — |  | 20 |
Total natural gas revenues | 324 |  | — |  | — |  | — |  | — |  | 324 |
Other revenues | 640 |  | 103 |  | 276 |  | 22 |  | 27 |  | — |
Total revenue from contracts with customers | 11,777 |  | 3,404 |  | 4,368 |  | 682 |  | 769 |  | 2,664 |
Other revenue sources(*) | 451 |  | (68) |  | 199 |  | 20 |  | 264 |  | 64 |
Total operating revenues | $ | 12,228 |  | $ | 3,336 |  | $ | 4,567 |  | $ | 702 |  | $ | 1,033 |  | $ | 2,728 |
| Southern Company | Alabama Power | Georgia Power | Mississippi Power | Southern Power | Southern Company Gas
| (in millions)
Three Months Ended June 30, 2022 |  |  |  |  |  |
Operating revenues |  |  |  |  |  |
Retail electric revenues |  |  |  |  |  |
Residential | $ | 1,655 |  | $ | 617 |  | $ | 962 |  | $ | 76 |  | $ | — |  | $ | — |
Commercial | 1,387 |  | 410 |  | 900 |  | 77 |  | — |  | — |
Industrial | 1,005 |  | 368 |  | 553 |  | 84 |  | — |  | — |
Other | 25 |  | 3 |  | 20 |  | 2 |  | — |  | — |
Total retail electric revenues | 4,072 |  | 1,398 |  | 2,435 |  | 239 |  | — |  | — |
Natural gas distribution revenues |  |  |  |  |  |
Residential | 474 |  | — |  | — |  | — |  | — |  | 474 |
Commercial | 130 |  | — |  | — |  | — |  | — |  | 130 |
Transportation | 276 |  | — |  | — |  | — |  | — |  | 276 |
Industrial | 16 |  | — |  | — |  | — |  | — |  | 16 |
Other | 67 |  | — |  | — |  | — |  | — |  | 67 |
Total natural gas distribution revenues | 963 |  | — |  | — |  | — |  | — |  | 963 |
Wholesale electric revenues |  |  |  |  |  |
PPA energy revenues | 585 |  | 108 |  | 40 |  | 5 |  | 441 |  | — |
PPA capacity revenues | 136 |  | 40 |  | 12 |  | — |  | 85 |  | — |
Non-PPA revenues | 62 |  | 35 |  | 6 |  | 169 |  | 196 |  | — |
Total wholesale electric revenues | 783 |  | 183 |  | 58 |  | 174 |  | 722 |  | — |
Other natural gas revenues |  |  |  |  |  |
Gas marketing services | 90 |  | — |  | — |  | — |  | — |  | 90 |
Other natural gas revenues | 10 |  | — |  | — |  | — |  | — |  | 10 |
Total natural gas revenues | 100 |  | — |  | — |  | — |  | — |  | 100 |
Other revenues | 308 |  | 63 |  | 121 |  | 9 |  | 9 |  | — |
Total revenue from contracts with customers | 6,226 |  | 1,644 |  | 2,614 |  | 422 |  | 731 |  | 1,063 |
Other revenue sources(*) | 980 |  | 287 |  | 507 |  | 12 |  | 168 |  | 20 |
Total operating revenues | $ | 7,206 |  | $ | 1,931 |  | $ | 3,121 |  | $ | 434 |  | $ | 899 |  | $ | 1,083 |
| Southern Company | Alabama Power | Georgia Power | Mississippi Power | Southern Power | Southern Company Gas
| (in millions)
Six Months Ended June 30, 2022 |  |  |  |  |  |
Operating revenues |  |  |  |  |  |
Retail electric revenues |  |  |  |  |  |
Residential | $ | 3,179 |  | $ | 1,250 |  | $ | 1,783 |  | $ | 146 |  | $ | — |  | $ | — |
Commercial | 2,567 |  | 786 |  | 1,638 |  | 143 |  | — |  | — |
Industrial | 1,732 |  | 691 |  | 887 |  | 154 |  | — |  | — |
Other | 51 |  | 7 |  | 40 |  | 4 |  | — |  | — |
Total retail electric revenues | 7,529 |  | 2,734 |  | 4,348 |  | 447 |  | — |  | — |
Natural gas distribution revenues |  |  |  |  |  |
Residential | 1,490 |  | — |  | — |  | — |  | — |  | 1,490 |
Commercial | 400 |  | — |  | — |  | — |  | — |  | 400 |
Transportation | 613 |  | — |  | — |  | — |  | — |  | 613 |
Industrial | 48 |  | — |  | — |  | — |  | — |  | 48 |
Other | 195 |  | — |  | — |  | — |  | — |  | 195 |
Total natural gas distribution revenues | 2,746 |  | — |  | — |  | — |  | — |  | 2,746 |
Wholesale electric revenues |  |  |  |  |  |
PPA energy revenues | 930 |  | 168 |  | 72 |  | 8 |  | 694 |  | — |
PPA capacity revenues | 268 |  | 78 |  | 23 |  | 3 |  | 166 |  | — |
Non-PPA revenues | 124 |  | 99 |  | 15 |  | 271 |  | 269 |  | — |
Total wholesale electric revenues | 1,322 |  | 345 |  | 110 |  | 282 |  | 1,129 |  | — |
Other natural gas revenues |  |  |  |  |  |
Gas marketing services | 333 |  | — |  | — |  | — |  | — |  | 333 |
Other natural gas revenues | 26 |  | — |  | — |  | — |  | — |  | 26 |
Total natural gas revenues | 359 |  | — |  | — |  | — |  | — |  | 359 |
Other revenues | 530 |  | 109 |  | 216 |  | 17 |  | 17 |  | — |
Total revenue from contracts with customers | 12,486 |  | 3,188 |  | 4,674 |  | 746 |  | 1,146 |  | 3,105 |
Other revenue sources(*) | 1,368 |  | 392 |  | 654 |  | 23 |  | 292 |  | 35 |
Total operating revenues | $ | 13,854 |  | $ | 3,580 |  | $ | 5,328 |  | $ | 769 |  | $ | 1,438 |  | $ | 3,140 |
(*)Other revenue sources relate to revenues from customers accounted for as derivatives and leases, alternative revenue programs at Southern Company Gas, and cost recovery mechanisms and revenues that meet other scope exceptions for revenues from contracts with customers at the traditional electric operating companies.
Schedule of Contract Balances | The following table reflects the closing balances of receivables, contract assets, and contract liabilities related to revenues from contracts with customers at June 30, 2023 and December 31, 2022:
| Southern Company | Alabama Power | Georgia Power | Mississippi Power | Southern Power | Southern Company Gas
| (in millions)
Accounts Receivable |  |  |  |  |  |
At June 30, 2023 | $ | 2,423 |  | $ | 670 |  | $ | 986 |  | $ | 101 |  | $ | 126 |  | $ | 461 |
At December 31, 2022 | 3,123 |  | 696 |  | 922 |  | 92 |  | 237 |  | 1,107 |
Contract Assets |  |  |  |  |  |
At June 30, 2023 | $ | 167 |  | $ | — |  | $ | 73 |  | $ | — |  | $ | — |  | $ | 30 |
At December 31, 2022 | 156 |  | 2 |  | 89 |  | — |  | — |  | — |
Contract Liabilities |  |  |  |  |  |
At June 30, 2023 | $ | 73 |  | $ | 1 |  | $ | 28 |  | $ | 3 |  | $ | 1 |  | $ | — |
At December 31, 2022 | 45 |  | 4 |  | 9 |  | — |  | 1 |  | — |
Schedule of Remaining Performance Obligations | Revenues from contracts with customers related to these performance obligations remaining at June 30, 2023 are expected to be recognized as follows:
| 2023 (remaining) | 2024 | 2025 | 2026 | 2027 | Thereafter
| (in millions)
Southern Company | $ | 333 |  | $ | 544 |  | $ | 351 |  | $ | 316 |  | $ | 319 |  | $ | 2,089 |
Alabama Power | 11 |  | 8 |  | 7 |  | — |  | — |  | — |
Georgia Power | 43 |  | 58 |  | 28 |  | 14 |  | 14 |  | 23 |
Southern Power | 188 |  | 358 |  | 302 |  | 303 |  | 310 |  | 2,077 |
Southern Company Gas | 11 |  | 29 |  | — |  | — |  | — |  | — |
Schedule of Lease Income | Lease income for the three and six months ended June 30, 2023 and 2022 is as follows:
| Southern Company | Alabama Power | Georgia Power | Mississippi Power | Southern Power | Southern Company Gas
| (in millions)
For the Three Months Ended June 30, 2023
Lease income - interest income on sales-type leases | $ | 6 |  | $ | — |  | $ | — |  | $ | 4 |  | $ | 2 |  | $ | — |
Lease income - operating leases | 42 |  | 11 |  | 7 |  | 1 |  | 21 |  | 9 |
Variable lease income | 123 |  | — |  | — |  | — |  | 132 |  | — |
Total lease income | $ | 171 |  | $ | 11 |  | $ | 7 |  | $ | 5 |  | $ | 155 |  | $ | 9 |
For the Six Months Ended June 30, 2023
Lease income - interest income on sales-type leases | $ | 12 |  | $ | — |  | $ | — |  | $ | 7 |  | $ | 5 |  | $ | — |
Lease income - operating leases | 92 |  | 29 |  | 14 |  | 2 |  | 42 |  | 18 |
Variable lease income | 192 |  | — |  | — |  | — |  | 207 |  | — |
Total lease income | $ | 296 |  | $ | 29 |  | $ | 14 |  | $ | 9 |  | $ | 254 |  | $ | 18 |
For the Three Months Ended June 30, 2022
Lease income - interest income on sales-type leases | $ | 7 |  | $ | — |  | $ | — |  | $ | 4 |  | $ | 3 |  | $ | — |
Lease income - operating leases | 52 |  | 19 |  | 8 |  | — |  | 21 |  | 9 |
Variable lease income | 129 |  | — |  | — |  | — |  | 138 |  | — |
Total lease income | $ | 188 |  | $ | 19 |  | $ | 8 |  | $ | 4 |  | $ | 162 |  | $ | 9 |
For the Six Months Ended June 30, 2022
Lease income - interest income on sales-type leases | $ | 13 |  | $ | — |  | $ | — |  | $ | 8 |  | $ | 5 |  | $ | — |
Lease income - operating leases | 105 |  | 39 |  | 16 |  | 1 |  | 42 |  | 18 |
Variable lease income | 211 |  | — |  | — |  | — |  | 227 |  | — |
Total lease income | $ | 329 |  | $ | 39 |  | $ | 16 |  | $ | 9 |  | $ | 274 |  | $ | 18 |

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