Southern Co. Files 10-Q for Q2 2024

TL;DR

SOUTHERN CO 10-Q FILED: Q2 2024 RESULTS OUT, DETAILS ON GEORGIA POWER & SOUTHERN POWER.

AI Summary

Southern Co. filed its 10-Q for the period ending June 30, 2024, reporting on its financial performance. The filing details operations for Southern Co., Georgia Power Co., and Southern Power Co., all within the Electric Services sector. Key financial figures and operational updates are provided for these entities.

Why It Matters

This filing provides investors and analysts with the latest financial and operational data for Southern Co. and its subsidiaries, crucial for understanding the company's current health and future prospects in the energy sector.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial disclosures.

Key Numbers

• 20240630 — Reporting Period End Date (The filing covers financial performance up to this date.)
• 20240801 — Filing Date (Indicates when the report was officially submitted to the SEC.)

Key Players & Entities

• SOUTHERN CO (company) — Filer
• GEORGIA POWER CO (company) — Subsidiary
• SOUTHERN POWER CO (company) — Subsidiary
• 4045065000 (dollar_amount) — Business Phone

FAQ

Key Financial Figures

• $5 — outhern Company Common Stock, par value $5 per share SO New York Stock Exchange (
• $40 — 65,737 Alabama Power Company Par Value $40 Per Share 30,537,500 Georgia Power Com
• $0.01 — 1,000 Southern Power Company Par Value $0.01 Per Share 1,000 Southern Company Gas P

Filing Documents

• so-20240630.htm (10-Q) — 6742KB
• ex4-d1mpcfifthsupplemental.htm (EX-4.D1) — 135KB
• x31a1-q22024so.htm (EX-31.A1) — 10KB
• x31a2-q22024so.htm (EX-31.A2) — 10KB
• x31b1-q22024apc.htm (EX-31.B1) — 10KB
• x31b2-q22024apc.htm (EX-31.B2) — 10KB
• x31c1-q22024gpc.htm (EX-31.C1) — 10KB
• x31c2-q22024gpc.htm (EX-31.C2) — 10KB
• x31d1-q22024mpc.htm (EX-31.D1) — 10KB
• x31d2-q22024mpc.htm (EX-31.D2) — 10KB
• x31e1-q22024spc.htm (EX-31.E1) — 10KB
• x31e2-q22024spc.htm (EX-31.E2) — 10KB
• x31f1-q22024gas.htm (EX-31.F1) — 10KB
• x31f2-q22024gas.htm (EX-31.F2) — 10KB
• x32a-q22024so.htm (EX-32.A) — 6KB
• x32b-q22024apc.htm (EX-32.B) — 6KB
• x32c-q22024gpc.htm (EX-32.C) — 6KB
• x32d-q22024mpc.htm (EX-32.D) — 6KB
• x32e-q22024spc.htm (EX-32.E) — 6KB
• x32f-q22024gas.htm (EX-32.F) — 6KB
• 0000092122-24-000075.txt ( ) — 27973KB
• so-20240630.xsd (EX-101.SCH) — 128KB
• so-20240630_cal.xml (EX-101.CAL) — 164KB
• so-20240630_def.xml (EX-101.DEF) — 1156KB
• so-20240630_lab.xml (EX-101.LAB) — 1064KB
• so-20240630_pre.xml (EX-101.PRE) — 1425KB
• so-20240630_htm.xml (XML) — 5462KB

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) 9

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 89

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 139

Controls and Procedures

Item 4. Controls and Procedures 139

—OTHER INFORMATION

PART II—OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 140

Risk Factors

Item 1A. Risk Factors 140

Unregistered Sales of Equity Securities and Use of Proceeds Inapplicable

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds Inapplicable

Defaults Upon Senior Securities Inapplicable

Item 3. Defaults Upon Senior Securities Inapplicable

Mine Safety Disclosures Inapplicable

Item 4. Mine Safety Disclosures Inapplicable

Other Information

Item 5. Other Information 140

Exhibits

Item 6. Exhibits 140

Signatures

Signatures 143 3 Table of Contents Index to Financial Statements DEFINITIONS Term Meaning 2022 ARP Alternate Rate Plan approved by the Georgia PSC in 2022 for Georgia Power for the years 2023 through 2025 AFUDC Allowance for funds used during construction Alabama Power Alabama Power Company ARO Asset retirement obligation Atlanta Gas Light Atlanta Gas Light Company, a wholly-owned subsidiary of Southern Company Gas CCR Coal combustion residuals Chattanooga Gas Chattanooga Gas Company, a wholly-owned subsidiary of Southern Company Gas COD Commercial operation date Cooperative Energy Electric generation and transmission cooperative in Mississippi COVID-19 The novel coronavirus disease declared a pandemic by the World Health Organization and the Centers for Disease Control and Prevention in March 2020 CWIP Construction work in progress Dalton City of Dalton, Georgia, an incorporated municipality in the State of Georgia, acting by and through its Board of Water, Light, and Sinking Fund Commissioners Dalton Pipeline A pipeline facility in Georgia in which Southern Company Gas has a 50% undivided ownership interest DOE U.S. Department of Energy ECO Plan Mississippi Power's environmental compliance overview plan ELG Effluent limitations guidelines EPA U.S. Environmental Protection Agency EPC Contractor Westinghouse and its affiliate, WECTEC Global Project Services Inc.; the former engineering, procurement, and construction contractor for Plant Vogtle Units 3 and 4 FCC Federal Communications Commission FERC Federal Energy Regulatory Commission FFB Federal Financing Bank First Solar First Solar Electric, LLC Fitch Fitch Ratings, Inc. Form 10-K Annual Report on Form 10-K of Southern Company, Alabama Power, Georgia Power, Mississippi Power, Southern Power, and Southern Company Gas for the year ended December 31, 2023, as applicable GAAP U.S. generally accepted accounting principles Georgia Power Georgia Power Company GHG Greenhous

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited). Page The Southern Company and Subsidiary Companies: Condensed Consolidated Statements of Income 10 Condensed Consolidated Statements of Comprehensive Income 11 Condensed Consolidated Statements of Cash Flows 12 Condensed Consolidated Balance Sheets 13 Condensed Consolidated Statements of Stockholders' Equity 15 Alabama Power Company: Condensed Statements of Income 16 Condensed Statements of Comprehensive Income 16 Condensed Statements of Cash Flows 17 Condensed Balance Sheets 18 Condensed Statements of Common Stockholder's Equity 20 Georgia Power Company: Condensed Statements of Income 21 Condensed Statements of Comprehensive Income 21 Condensed Statements of Cash Flows 22 Condensed Balance Sheets 23 Condensed Statements of Common Stockholder's Equity 25 Mississippi Power Company: Condensed Statements of Income 26 Condensed Statements of Comprehensive Income 26 Condensed Statements of Cash Flows 27 Condensed Balance Sheets 28 Condensed Statements of Common Stockholder's Equity 30 Southern Power Company and Subsidiary Companies: Condensed Consolidated Statements of Income 31 Condensed Consolidated Statements of Comprehensive Income 31 Condensed Consolidated Statements of Cash Flows 32 Condensed Consolidated Balance Sheets 33 Condensed Consolidated Statements of Stockholders' Equity 35 Southern Company Gas and Subsidiary Companies: Condensed Consolidated Statements of Income 36 Condensed Consolidated Statements of Comprehensive Income 36 Condensed Consolidated Statements of Cash Flows 37 Condensed Consolidated Balance Sheets 38 Condensed Consolidated Statements of Stockholder's Equity 40 Combined Notes to the Condensed Financial Statements 41 9 Table of Contents Index to Financial Statements THE SOUTHERN COMPANY AND SUBSIDIARY COMPANIES CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) For the Three Months E

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View this 10-Q filing on SEC EDGAR