Southern Co. Files Q3 2024 10-Q

TL;DR

SO 10-Q filed. Financials and ops updated for Q3.

AI Summary

Southern Co. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the company and its subsidiaries, including Georgia Power Co. and Southern Power Co. Specific financial figures and operational metrics are provided within the report.

Why It Matters

This filing provides investors and analysts with the latest financial and operational data for Southern Co., crucial for understanding the company's performance and future outlook.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing and does not inherently present new risks.

Key Players & Entities

• SOUTHERN CO (company) — Filer of the 10-Q
• GEORGIA POWER CO (company) — Subsidiary of Southern Co.
• SOUTHERN POWER CO (company) — Subsidiary of Southern Co.
• 20240930 (date) — End of the reporting period
• 20241031 (date) — Filing date

FAQ

Key Financial Figures

• $5 — outhern Company Common Stock, par value $5 per share SO New York Stock Exchange (
• $40 — 84,180 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-20240930.htm (10-Q) — 7152KB
• ex4-f3nicorsupplementalind.htm (EX-4.F3) — 205KB
• x31a1-q32024so.htm (EX-31.A1) — 10KB
• x31a2-q32024so.htm (EX-31.A2) — 10KB
• x31b1-q32024apc.htm (EX-31.B1) — 10KB
• x31b2-q32024apc.htm (EX-31.B2) — 10KB
• x31c1-q32024gpc.htm (EX-31.C1) — 10KB
• x31c2-q32024gpc.htm (EX-31.C2) — 10KB
• x31d1-q32024mpc.htm (EX-31.D1) — 10KB
• x31d2-q32024mpc.htm (EX-31.D2) — 10KB
• x31e1-q32024spc.htm (EX-31.E1) — 10KB
• x31e2-q32024spc.htm (EX-31.E2) — 10KB
• x31f1-q32024gas.htm (EX-31.F1) — 10KB
• x31f2-q32024gas.htm (EX-31.F2) — 10KB
• x32a-q32024so.htm (EX-32.A) — 6KB
• x32b-q32024apc.htm (EX-32.B) — 6KB
• x32c-q32024gpc.htm (EX-32.C) — 6KB
• x32d-q32024mpc.htm (EX-32.D) — 6KB
• x32e-q32024spc.htm (EX-32.E) — 6KB
• x32f-q32024gas.htm (EX-32.F) — 6KB
• image.jpg (GRAPHIC) — 31KB
• notorypublic.jpg (GRAPHIC) — 23KB
• 0000092122-24-000089.txt ( ) — 29335KB
• so-20240930.xsd (EX-101.SCH) — 134KB
• so-20240930_cal.xml (EX-101.CAL) — 148KB
• so-20240930_def.xml (EX-101.DEF) — 1209KB
• so-20240930_lab.xml (EX-101.LAB) — 1126KB
• so-20240930_pre.xml (EX-101.PRE) — 1481KB
• so-20240930_htm.xml (XML) — 5694KB

—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 92

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 146

Controls and Procedures

Item 4. Controls and Procedures 146

—OTHER INFORMATION

PART II—OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 147

Risk Factors

Item 1A. Risk Factors 147

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 147

Exhibits

Item 6. Exhibits 147

Signatures

Signatures 150 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 CCN Certificate of convenience and necessity CCR Coal combustion residuals Chattanooga Gas Chattanooga Gas Company, a wholly-owned subsidiary of Southern Company Gas CO 2 Carbon dioxide 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 ac

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 17 Condensed Statements of Comprehensive Income 17 Condensed Statements of Cash Flows 18 Condensed Balance Sheets 19 Condensed Statements of Common Stockholder's Equity 21 Georgia Power Company: Condensed Statements of Income 22 Condensed Statements of Comprehensive Income 22 Condensed Statements of Cash Flows 23 Condensed Balance Sheets 24 Condensed Statements of Common Stockholder's Equity 26 Mississippi Power Company: Condensed Statements of Income 27 Condensed Statements of Comprehensive Income 27 Condensed Statements of Cash Flows 28 Condensed Balance Sheets 29 Condensed Statements of Common Stockholder's Equity 31 Southern Power Company and Subsidiary Companies: Condensed Consolidated Statements of Income 32 Condensed Consolidated Statements of Comprehensive Income 32 Condensed Consolidated Statements of Cash Flows 33 Condensed Consolidated Balance Sheets 34 Condensed Consolidated Statements of Stockholders' Equity 36 Southern Company Gas and Subsidiary Companies: Condensed Consolidated Statements of Income 37 Condensed Consolidated Statements of Comprehensive Income 37 Condensed Consolidated Statements of Cash Flows 38 Condensed Consolidated Balance Sheets 39 Condensed Consolidated Statements of Stockholder's Equity 41 Combined Notes to the Condensed Financial Statements 42 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

View Full Filing

View this 10-Q filing on SEC EDGAR