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Segment and Related Information (Tables)

6 Months Ended

Jun. 30, 2025

Segment Reporting [Abstract]

Schedule of Financial Data for Business Segments

Financial data for business segments for the three and six months ended June 30, 2025 and 2024 was as follows:

			Electric Utilities
			Traditional Electric Operating Companies			Southern Power			Eliminations			Total			Southern Company Gas			Total Reportable Segments			All Other			Eliminations			Consolidated
			(in millions)
Three Months Ended June 30, 2025
Operating revenues			$	5,380		$	546		$	(122)		$	5,804		$	979		$	6,783		$	225		$	(35)		$	6,973
Other segment items(a)			2,674			296			(122)			2,848			599			3,447			193			(23)			3,617
Depreciation and amortization(b)			957			177			—			1,134			172			1,306			17			—			1,323
Earnings from equity method investments			4			—			—			4			23			27			(17)			—			10
Interest expense(c)			336			24			—			360			92			452			422			—			874
Income taxes (benefit)			370			(2)			—			368			33			401			(112)			—			289
Segment net income (loss)(b)(c)(d)			$	1,047		$	51		$	—		$	1,098		$	106		$	1,204		$	(312)		$	(12)		$	880
Six Months Ended June 30, 2025
Operating revenues			$	10,692		$	1,113		$	(245)		$	11,560		$	2,818		$	14,378		$	454		$	(84)		$	14,748
Other segment items(a)			5,468			599			(245)			5,822			1,670			7,492			401			(81)			7,812
Depreciation and amortization(b)			1,905			329			—			2,234			341			2,575			33			—			2,608
Earnings from equity method investments			2			—			—			2			62			64			(21)			—			43
Interest expense(c)			652			50			—			702			183			885			703			—			1,588
Income taxes (benefit)			596			(3)			—			593			162			755			(186)			—			569
Segment net income (loss)(b)(c)(d)			$	2,073		$	138		$	—		$	2,211		$	524		$	2,735		$	(518)		$	(3)		$	2,214
At June 30, 2025
Goodwill			$	—		$	2		$	—		$	2		$	5,015		$	5,017		$	144		$	—		$	5,161
Total assets			108,676			12,817			(1,013)			120,480			26,376			146,856			2,417			(420)			148,853

			Electric Utilities
			Traditional Electric Operating Companies			Southern Power			Eliminations			Total			Southern Company Gas			Total Reportable Segments			All Other			Eliminations			Consolidated
			(in millions)
Three Months Ended June 30, 2024
Operating revenues			$	5,025		$	524		$	(93)		$	5,456		$	831		$	6,287		$	222		$	(46)		$	6,463
Other segment items(a)(e)			2,322			268			(93)			2,497			478			2,975			193			(43)			3,125
Depreciation and amortization			880			127			—			1,007			158			1,165			17			—			1,182
Earnings from equity method investments			—			—			—			—			32			32			(1)			—			31
Interest expense			323			30			—			353			83			436			259			(1)			694
Income taxes (benefit)			308			13			—			321			36			357			(67)			—			290
Segment net income (loss)(d)(e)			$	1,192		$	86		$	—		$	1,278		$	108		$	1,386		$	(181)		$	(2)		$	1,203
Six Months Ended June 30, 2024
Operating revenues			$	9,463		$	997		$	(189)		$	10,271		$	2,538		$	12,809		$	383		$	(83)		$	13,109
Other segment items(a)(e)			4,603			512			(189)			4,926			1,443			6,369			347			(60)			6,656
Depreciation and amortization			1,733			245			—			1,978			313			2,291			36			—			2,327
Earnings from equity method investments			2			—			—			2			76			78			(2)			1			77
Interest expense			635			59			—			694			167			861			508			(11)			1,358
Income taxes (benefit)			482			(1)			—			481			174			655			(142)			—			513
Segment net income (loss)(d)(e)			$	2,012		$	182		$	—		$	2,194		$	517		$	2,711		$	(368)		$	(11)		$	2,332
At December 31, 2024
Goodwill			$	—		$	2		$	—		$	2		$	5,015		$	5,017		$	144		$	—		$	5,161
Total assets			105,577			12,653			(1,025)			117,205			26,177			143,382			2,371			(573)			145,180

(a)Primarily consists of fuel, purchased power, cost of natural gas, cost of other sales, other operations and maintenance, taxes other than income taxes, AFUDC equity, non-service cost-related retirement benefits income, and net income (loss) attributable to noncontrolling interests.

(b)For Southern Power, includes accelerated depreciation related to the repowering of the Kay Wind, Grant Plains, and Grant Wind facilities of $42 million ($31 million after tax, net of noncontrolling interest impacts) and $69 million ($51 million after tax, net of noncontrolling interest impacts) for the three and six months ended June 30, 2025, respectively. See Note (K) under "Southern Power – Wind Repowering Projects" herein and Note 15 to the financial statements under "Southern Power – Development Projects" in Item 8 of the Form 10-K for additional information.

(c)For all other, includes a pre-tax loss of $129 million ($97 million after tax) associated with the extinguishment of debt at the parent company. See Note (F) under "Convertible Senior Notes" herein for additional information.

(d)Attributable to Southern Company.

(e)For the traditional electric operating companies, includes a pre-tax credit to income at Georgia Power of $21 million ($16 million after tax) related to the estimated probable loss associated with the completion of Plant Vogtle Units 3 and 4, as well as a pre-tax gain at Georgia Power of approximately $114 million ($84 million after tax) related to the sale of transmission line assets under the integrated transmission system agreement. See Note 2 to the financial statements under "Georgia Power" in Item 8 of the Form 10-K for additional information.

Financial data for Alabama Power's and Georgia Power's significant segment expenses and other segment information for the three and six months ended June 30, 2025 and 2024 was as follows:

			Three Months Ended June 30,						Six Months Ended June 30,
			2025			2024			2025			2024
			(in millions)
Alabama Power
Operating revenues			$	1,968		$	1,873		$	3,980		$	3,664
Utility operations and maintenance
Rate RSE expenses			374			339			739			664
Rate CNP Compliance expenses			67			66			142			129
Total utility operations and maintenance			441			405			881			793
Other segment items(a)			544			519			1,152			1,033
Depreciation and amortization			371			364			741			725
Interest expense			116			114			225			224
Income taxes			115			102			226			187
Segment net income			$	381		$	369		$	755		$	702
Capital expenditures			$	599		$	470		$	1,159		$	921
Georgia Power
Operating revenues			$	3,110		$	2,875		$	6,148		$	5,273
Utility operations and maintenance			568			499			1,104			962
Other segment items(a)(b)			989			790			2,106			1,610
Depreciation and amortization			512			447			1,015			872
Interest expense			198			185			385			359
Income taxes			236			192			334			271
Segment net income(b)			$	607		$	762		$	1,204		$	1,199
Capital expenditures			$	1,676		$	1,320		$	3,313		$	2,353

(a)Primarily consists of fuel, purchased power, expenses from unregulated products and services, losses (gains) on asset dispositions, amortization of cloud software, taxes other than income taxes, AFUDC equity, non-service cost-related retirement benefits income, and, for Georgia Power, charges (credits) for estimated loss on Plant Vogtle Units 3 and 4. Also includes earnings from equity method investments, which were immaterial for all periods presented.

(b)For the three and six months ended June 30, 2024, includes a pre-tax credit to income of $21 million ($16 million after tax) related to the estimated probable loss associated with the completion of Plant Vogtle Units 3 and 4, as well as a pre-tax gain of approximately $114 million ($84 million after tax) related to the sale of transmission line assets under the integrated transmission system agreement. See Note 2 to the financial statements under "Georgia Power" in Item 8 of the Form 10-K for additional information.

Financial data for business segments for the three and six months ended June 30, 2025 and 2024 was as follows:

			Gas Distribution Operations			Gas Pipeline Investments			Gas Marketing Services			Total Reportable Segments			All Other			Eliminations			Consolidated
			(in millions)
Three Months Ended June 30, 2025
Operating revenues			$	885		$	8		$	83		$	976		$	5		$	(2)		$	979
Other segment items(*)			526			1			68			595			6			(2)			599
Depreciation and amortization			167			1			3			171			1			—			172
Earnings from equity method investments			—			23			—			23			—			—			23
Interest expense			82			9			1			92			—			—			92
Income taxes			19			5			3			27			6			—			33
Segment net income			$	91		$	15		$	8		$	114		$	(8)		$	—		$	106
Six Months Ended June 30, 2025
Operating revenues			$	2,454		$	16		$	345		$	2,815		$	9		$	(6)		$	2,818
Other segment items(*)			1,431			3			234			1,668			8			(6)			1,670
Depreciation and amortization			330			3			7			340			1			—			341
Earnings from equity method investments			—			62			—			62			—			—			62
Interest expense			164			18			1			183			—			—			183
Income taxes (benefit)			123			13			29			165			(3)			—			162
Segment net income			$	406		$	41		$	74		$	521		$	3		$	—		$	524
Total assets at June 30, 2025			$	24,864		$	1,595		$	1,679		$	28,138		$	10,492		$	(12,254)		$	26,376
Three Months Ended June 30, 2024
Operating revenues			$	749		$	8		$	70		$	827		$	7		$	(3)		$	831
Other segment items(*)			420			2			52			474			7			(3)			478
Depreciation and amortization			152			1			4			157			1			—			158
Earnings from equity method investments			—			32			—			32			—			—			32
Interest expense			76			9			2			87			(4)			—			83
Income taxes			21			6			3			30			6			—			36
Segment net income (loss)			$	80		$	22		$	9		$	111		$	(3)		$	—		$	108
Six Months Ended June 30, 2024
Operating revenues			$	2,212		$	16		$	305		$	2,533		$	13		$	(8)		$	2,538
Other segment items(*)			1,246			4			193			1,443			8			(8)			1,443
Depreciation and amortization			303			2			7			312			1			—			313
Earnings from equity method investments			—			76			—			76			—			—			76
Interest expense			154			18			2			174			(7)			—			167
Income taxes (benefit)			127			16			29			172			2			—			174
Segment net income			$	382		$	52		$	74		$	508		$	9		$	—		$	517
Total assets at December 31, 2024			$	24,067		$	1,573		$	1,696		$	27,336		$	10,047		$	(11,206)		$	26,177

(*)Primarily consists of cost of natural gas, other operations and maintenance, taxes other than income taxes, AFUDC equity, and non-service cost-related retirement benefits income.

X

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

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No definition available.

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