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Condensed Consolidated Balance Sheets (Unaudited) - SPC - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Current Assets:    
Cash and cash equivalents $ 981 $ 1,639
Receivables —    
Customer accounts, net and Affiliated 2,405 2,251
Other 524 655
Materials and supplies 2,297 2,202
Other current assets 433 424
Total current assets 9,961 10,917
Property, Plant, and Equipment:    
In service 149,086 146,114
Less: Accumulated depreciation 45,186 43,483
Plant in service, net of depreciation 103,900 102,631
Construction work in progress 11,282 10,534
Total property, plant, and equipment 116,102 114,369
Other Property and Investments:    
Total other property and investments 10,414 10,440
Deferred Charges and Other Assets:    
Operating lease right-of-use assets, net of amortization 1,351 1,358
Other deferred charges and assets 1,534 1,436
Total deferred charges and other assets 20,554 19,994
Total Assets 157,031 155,720
Current Liabilities:    
Securities due within one year 5,701 6,220
Notes payable 1,673 722
Accounts payable —    
Accrued interest 627 807
Operating lease obligations 203 197
Other current liabilities 1,191 1,157
Total current liabilities 15,318 16,888
Long-term Debt 67,148 65,649
Deferred Credits and Other Liabilities:    
Accumulated deferred income taxes 12,381 12,133
Accumulated deferred ITCs 2,047 2,002
Operating lease obligations, deferred 1,280 1,287
Other deferred credits and liabilities 1,625 1,505
Total deferred credits and other liabilities 34,653 34,316
Total Liabilities 117,119 116,853
Total Stockholders' Equity (See accompanying statements) 39,912 38,867
Total Liabilities and Stockholders' Equity 157,031 155,720
SOUTHERN POWER CO    
Current Assets:    
Cash and cash equivalents 72 105
Receivables —    
Other 62 16
Materials and supplies 135 132
Other current assets 77 89
Total current assets 509 528
Property, Plant, and Equipment:    
In service 15,342 15,034
Less: Accumulated depreciation 5,488 5,214
Plant in service, net of depreciation 9,854 9,820
Construction work in progress 867 1,080
Total property, plant, and equipment 10,721 10,900
Other Property and Investments:    
Intangible assets, net of amortization 199 203
Net investment in sales-type leases 135 137
Total other property and investments 334 340
Deferred Charges and Other Assets:    
Operating lease right-of-use assets, net of amortization 477 479
Prepaid LTSAs 183 170
Other deferred charges and assets 250 240
Total deferred charges and other assets 910 889
Total Assets 12,474 12,657
Current Liabilities:    
Securities due within one year 575 587
Notes payable 160 138
Accounts payable —    
Accrued taxes 13 9
Accrued interest 46 38
Operating lease obligations 31 31
Other current liabilities 77 92
Total current liabilities 1,038 1,076
Long-term Debt 2,353 2,353
Deferred Credits and Other Liabilities:    
Accumulated deferred income taxes 571 579
Accumulated deferred ITCs 1,368 1,383
Operating lease obligations, deferred 508 510
Other deferred credits and liabilities 242 235
Total deferred credits and other liabilities 2,689 2,707
Total Liabilities 6,080 6,136
Total Stockholders' Equity (See accompanying statements) 6,394 6,521
Total Liabilities and Stockholders' Equity 12,474 12,657
SOUTHERN POWER CO | Nonrelated Party    
Receivables —    
Customer accounts, net and Affiliated 141 151
Accounts payable —    
Affiliated and Other 78 93
SOUTHERN POWER CO | Related Party    
Receivables —    
Customer accounts, net and Affiliated 22 35
Accounts payable —    
Affiliated and Other $ 58 $ 88