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Segment and Related Information (Tables) | 9 Months Ended
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Sep. 30, 2024
Segment Reporting [Abstract] |
Schedule of Financial Data for Business Segments | Financial data for business segments and products and services for the three and nine months ended September 30, 2024 and 2023 was as follows:
| Electric Utilities |  |  |  |
| Traditional Electric Operating Companies | Southern Power | Eliminations | Total | Southern Company Gas | All Other | Eliminations | Consolidated
| (in millions)
Three Months Ended September 30, 2024 |  |  |  |  |  |  |
Operating revenues | $ | 5,927 |  | $ | 600 |  | $ | (105) |  | $ | 6,422 |  | $ | 682 |  | $ | 215 |  | $ | (45) |  | $ | 7,274 |
Segment net income (loss)(a)(b) | 1,618 |  | 82 |  | — |  | 1,700 |  | 38 |  | (201) |  | (2) |  | 1,535 |
Nine Months Ended September 30, 2024 |  |  |  |  |  |  |
Operating revenues | $ | 15,389 |  | $ | 1,597 |  | $ | (293) |  | $ | 16,693 |  | $ | 3,220 |  | $ | 598 |  | $ | (128) |  | $ | 20,383 |
Segment net income (loss)(a)(b)(c) | 3,630 |  | 264 |  | — |  | 3,894 |  | 555 |  | (569) |  | (13) |  | 3,867 |
At September 30, 2024 |  |  |  |  |  |  |  |
Goodwill | $ | — |  | $ | 2 |  | $ | — |  | $ | 2 |  | $ | 5,015 |  | $ | 144 |  | $ | — |  | $ | 5,161 |
Total assets | 104,565 |  | 12,646 |  | (547) |  | 116,664 |  | 25,545 |  | 2,347 |  | (600) |  | 143,956 |
Three Months Ended September 30, 2023 |  |  |  |  |  |  |
Operating revenues | $ | 5,674 |  | $ | 653 |  | $ | (160) |  | $ | 6,167 |  | $ | 689 |  | $ | 154 |  | $ | (30) |  | $ | 6,980 |
Segment net income (loss)(a)(c)(d) | 1,419 |  | 100 |  | — |  | 1,519 |  | 82 |  | (179) |  | — |  | 1,422 |
Nine Months Ended September 30, 2023 |  |  |  |  |  |  |
Operating revenues | $ | 14,145 |  | $ | 1,686 |  | $ | (417) |  | $ | 15,414 |  | $ | 3,417 |  | $ | 499 |  | $ | (122) |  | $ | 19,208 |
Segment net income (loss)(a)(c)(d)(e) | 2,852 |  | 288 |  | — |  | 3,140 |  | 475 |  | (490) |  | (4) |  | 3,121 |
At December 31, 2023 |  |  |  |  |  |  |  |
Goodwill | $ | — |  | $ | 2 |  | $ | — |  | $ | 2 |  | $ | 5,015 |  | $ | 144 |  | $ | — |  | $ | 5,161 |
Total assets | 100,429 |  | 12,761 |  | (545) |  | 112,645 |  | 25,083 |  | 2,446 |  | (843) |  | 139,331 |
(a)Attributable to Southern Company. (b)For the traditional electric operating companies, includes a pre-tax impairment loss at Alabama Power of $36 million ($27 million after tax) related to Alabama Power discontinuing the development of a multi-use commercial facility. See Note (A) under "Impairment of Long-Lived Assets" for additional information. (c)For the traditional electric operating companies, includes pre-tax charges (credits) to income at Georgia Power related to the estimated probable loss associated with the construction and completion of Plant Vogtle Units 3 and 4 of $(21) million ($(16) million after tax) for the nine months ended September 30, 2024 and $160 million ($120 million after tax) for the three and nine months ended September 30, 2023. Also includes a pre-tax gain at Georgia Power of approximately $114 million ($84 million after tax) for the nine months ended September 30, 2024 related to the sale of transmission line assets under the integrated transmission system agreement. See Note (B) under "Georgia Power" and Note 2 to the financial statements under "Georgia Power – Nuclear Construction" in Item 8 of the Form 10-K for additional information. (d)For Southern Power, includes an $18 million pre-tax loss recovery ($9 million after tax and partnership allocations) for the three and nine months ended September 30, 2023 related to an arbitration award and a $16 million pre-tax gain ($12 million after tax) on the sale of spare parts for the nine months ended September 30, 2023. See Note (C) under "General Litigation Matters – Southern Power" for additional information related to the arbitration award. (e)For Southern Company Gas, includes a pre-tax charge of approximately $38 million ($28 million after tax) associated with the disallowance of certain capital expenditures at Nicor Gas. See Note 2 to the financial statements under "Southern Company Gas" in Item 8 of the Form 10-K for additional information. Business segment financial data for the three and nine months ended September 30, 2024 and 2023 was as follows:
| Gas Distribution Operations | Gas Pipeline Investments | Gas Marketing Services | Total | All Other | Eliminations | Consolidated
| (in millions)
Three Months Ended September 30, 2024 |  |  |  |  |
Operating revenues | $ | 616 |  | $ | 8 |  | $ | 53 |  | $ | 677 |  | $ | 6 |  | $ | (1) |  | $ | 682 |
Segment net income | 21 |  | 24 |  | (2) |  | 43 |  | (5) |  | — |  | 38 |
Nine Months Ended September 30, 2024 |  |  |  |  |
Operating revenues | $ | 2,828 |  | $ | 24 |  | $ | 358 |  | $ | 3,210 |  | $ | 19 |  | $ | (9) |  | $ | 3,220 |
Segment net income | 403 |  | 77 |  | 72 |  | 552 |  | 3 |  | — |  | 555 |
Total assets at September 30, 2024 | 23,543 |  | 1,573 |  | 1,619 |  | 26,735 |  | 9,910 |  | (11,100) |  | 25,545 |
Three Months Ended September 30, 2023 |  |  |  |  |
Operating revenues | $ | 619 |  | $ | 8 |  | $ | 56 |  | $ | 683 |  | $ | 8 |  | $ | (2) |  | $ | 689 |
Segment net income (loss) | 70 |  | 24 |  | 2 |  | 96 |  | (14) |  | — |  | 82 |
Nine Months Ended September 30, 2023 |  |  |  |  |  |
Operating revenues | $ | 3,002 |  | $ | 24 |  | $ | 376 |  | $ | 3,402 |  | $ | 30 |  | $ | (15) |  | $ | 3,417 |
Segment net income(*) | 352 |  | 73 |  | 59 |  | 484 |  | (9) |  | — |  | 475 |
Total assets at December 31, 2023 | 22,906 |  | 1,534 |  | 1,615 |  | 26,055 |  | 9,675 |  | (10,647) |  | 25,083 |
(*)For gas distribution operations, includes a pre-tax charge of approximately $38 million ($28 million after tax) associated with the disallowance of certain capital expenditures at Nicor Gas. See Note 2 to the financial statements under "Southern Company Gas" in Item 8 of the Form 10-K for additional information.
Schedule of Financial Data for Products and Services |
| Electric Utilities' Revenues
| Retail | Wholesale | Other | Total
| (in millions)
Three Months Ended September 30, 2024 | $ | 5,366 |  | $ | 721 |  | $ | 335 |  | $ | 6,422 |
Three Months Ended September 30, 2023 | 5,139 |  | 727 |  | 301 |  | 6,167 |
Nine Months Ended September 30, 2024 | $ | 13,793 |  | $ | 1,919 |  | $ | 981 |  | $ | 16,693 |
Nine Months Ended September 30, 2023 | 12,597 |  | 1,930 |  | 887 |  | 15,414 |
| Southern Company Gas' Revenues
| Gas Distribution Operations | Gas Marketing Services | Other | Total
| (in millions)
Three Months Ended September 30, 2024 | $ | 616 |  | $ | 53 |  | $ | 13 |  | $ | 682 |
Three Months Ended September 30, 2023 | 617 |  | 56 |  | 16 |  | 689 |
Nine Months Ended September 30, 2024 | $ | 2,828 |  | $ | 358 |  | $ | 34 |  | $ | 3,220 |
Nine Months Ended September 30, 2023 | 2,989 |  | 376 |  | 52 |  | 3,417 |

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