| Schedule of Financial Data for Business Segments |
Financial data for business segments for the three and six months ended June 30, 2026 and 2025 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, 2026 | | | | | | | | Operating revenues | $ | 5,396 | | $ | 535 | | $ | (105) | | $ | 5,826 | | $ | 966 | | $ | 6,792 | | $ | 223 | | $ | (38) | | $ | 6,977 | | Other segment items(a) | 2,501 | | 329 | | (78) | | 2,752 | | 554 | | 3,306 | | 193 | | (27) | | 3,472 | | Depreciation and amortization(b) | 967 | | 280 | | (15) | | 1,232 | | 185 | | 1,417 | | 17 | | — | | 1,434 | | | Earnings from equity method investments | 12 | | — | | — | | 12 | | 32 | | 44 | | 42 | | — | | 86 | | Interest expense | 367 | | 28 | | (12) | | 383 | | 101 | | 484 | | 312 | | — | | 796 | | | Income taxes (benefit) | 304 | | (77) | | — | | 227 | | 32 | | 259 | | (72) | | — | | 187 | | Segment net income (loss)(b)(c) | $ | 1,269 | | $ | (25) | | $ | — | | $ | 1,244 | | $ | 126 | | $ | 1,370 | | $ | (185) | | $ | (11) | | $ | 1,174 | | | | | | | | | | | | | Six Months Ended June 30, 2026 | | | | | | | | Operating revenues | $ | 10,878 | | $ | 1,216 | | $ | (246) | | $ | 11,848 | | $ | 3,157 | | $ | 15,005 | | $ | 441 | | $ | (72) | | $ | 15,374 | | Other segment items(a) | 5,360 | | 772 | | (219) | | 5,913 | | 1,911 | | 7,824 | | 382 | | (68) | | 8,138 | | Depreciation and amortization(b) | 1,908 | | 558 | | (15) | | 2,451 | | 369 | | 2,820 | | 34 | | — | | 2,854 | | | Earnings from equity method investments | 11 | | — | | — | | 11 | | 78 | | 89 | | 47 | | — | | 136 | | Interest expense(d) | 705 | | 55 | | (12) | | 748 | | 206 | | 954 | | 619 | | — | | 1,573 | | | Income taxes (benefit) | 534 | | (147) | | — | | 387 | | 176 | | 563 | | (149) | | — | | 414 | | Segment net income (loss)(b)(c)(d) | $ | 2,382 | | $ | (22) | | $ | — | | $ | 2,360 | | $ | 573 | | $ | 2,933 | | $ | (398) | | $ | (4) | | $ | 2,531 | | | | | | | | | | | | | At June 30, 2026 | | | | | | | | | | | Goodwill | $ | — | | $ | 2 | | $ | — | | $ | 2 | | $ | 5,015 | | $ | 5,017 | | $ | 144 | | $ | — | | $ | 5,161 | | | Total assets | 120,194 | | 12,780 | | (2,101) | | 130,873 | | 27,604 | | 158,477 | | 4,283 | | (733) | | 162,027 | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 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(d) | 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(d) | 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 December 31, 2025 | | | | | | | | | | | Goodwill | $ | — | | $ | 2 | | $ | — | | $ | 2 | | $ | 5,015 | | $ | 5,017 | | $ | 144 | | $ | — | | $ | 5,161 | | | Total assets | 114,287 | | 12,657 | | (915) | | 126,029 | | 27,387 | | 153,416 | | 2,829 | | (525) | | 155,720 | |
(a)Primarily consists of fuel, purchased power, cost of natural gas, cost of other sales, other operations and maintenance expenses, 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 multiple wind facilities of $140 million ($109 million after tax) and $293 million ($228 million after tax) for the three and six months ended June 30, 2026, respectively, and $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. See Note (K) under "Southern Power – Wind Repowering Projects" and Notes 5 and 15 to the financial statements under "Depreciation and Amortization – Southern Power" and "Southern Power – Wind Repowering Projects," respectively, in Item 8 of the Form 10-K for additional information. (c)Attributable to Southern Company. (d)For All Other, includes pre-tax losses associated with the extinguishment of debt at the parent company of $11 million ($8 million after tax) for the six months ended June 30, 2026 and $129 million ($97 million after tax) for the three and six months ended June 30, 2025. Financial data for significant segment expenses and other segment information for the three and six months ended June 30, 2026 and 2025 was as follows: | | | | | | | | | | | | | | | | Three Months Ended June 30, | Six Months Ended June 30, | | 2026 | 2025 | 2026 | 2025 | | (in millions) | Alabama Power | | | | | | Operating revenues | $ | 1,963 | | $ | 1,968 | | $ | 4,055 | | $ | 3,980 | | | Utility operations and maintenance | | | | | | Rate RSE expenses | 332 | | 374 | | 633 | | 739 | | | Rate CNP Compliance expenses | 71 | | 67 | | 145 | | 142 | | | Total utility operations and maintenance | 403 | | 441 | | 778 | | 881 | | Other segment items(a) | 486 | | 544 | | 1,154 | | 1,152 | | | Depreciation and amortization | 385 | | 371 | | 766 | | 741 | | | Interest expense | 117 | | 116 | | 232 | | 225 | | | Income taxes | 135 | | 115 | | 263 | | 226 | | | Segment net income | $ | 437 | | $ | 381 | | $ | 862 | | $ | 755 | | | | | | | | Capital expenditures | $ | 501 | | $ | 599 | | $ | 1,019 | | $ | 1,159 | | | | | | | Georgia Power | | | | | | Operating revenues | $ | 3,133 | | $ | 3,110 | | $ | 6,276 | | $ | 6,148 | | | Utility operations and maintenance | 586 | | 568 | | 1,164 | | 1,104 | | Other segment items(a) | 886 | | 989 | | 2,050 | | 2,106 | | | Depreciation and amortization | 503 | | 512 | | 987 | | 1,015 | | | Interest expense | 228 | | 198 | | 431 | | 385 | | | Income taxes | 151 | | 236 | | 236 | | 334 | | | Segment net income | $ | 779 | | $ | 607 | | $ | 1,408 | | $ | 1,204 | | | | | | | | Capital expenditures | $ | 2,173 | | $ | 1,676 | | $ | 4,243 | | $ | 3,313 | | | | | | | Mississippi Power | | | | | | Operating revenues | $ | 403 | | $ | 400 | | $ | 875 | | $ | 821 | | | | | | | Operational expenses(b) | 80 | | 65 | | 144 | | 122 | | Environmental compliance expenses(c) | 3 | | 4 | | 7 | | 6 | | | | | | | | | | | | Other segment items(a) | 173 | | 183 | | 424 | | 400 | | | Depreciation and amortization | 58 | | 52 | | 113 | | 105 | | | Interest expense | 21 | | 20 | | 41 | | 40 | | | Income taxes | 16 | | 17 | | 34 | | 34 | | Segment net income | $ | 52 | | $ | 59 | | $ | 112 | | $ | 114 | | | | | | | | Capital expenditures | $ | 96 | | $ | 126 | | $ | 178 | | $ | 199 | |
(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, and non-service cost-related retirement benefits income. For Mississippi Power, includes employee benefit expenses. Also includes earnings from equity method investments, which were immaterial for all periods presented. (b)Consists of certain operations and maintenance expenses related to PEP and the MRA tariff, including labor costs, materials, contract services, and other normal operational costs. See Note (B) under "Mississippi Power" and Note 2 to the financial statements under "Mississippi Power" in Item 8 of the Form 10-K for additional information regarding PEP and the MRA tariff. (c)Consists of environmental compliance expenses related to ECO Plan and the MRA tariff. See Note (B) under "Mississippi Power" and Note 2 to the financial statements under "Mississippi Power" in Item 8 of the Form 10-K for additional information regarding ECO Plan and the MRA tariff. Financial data for segment information for the three and six months ended June 30, 2026 and 2025 was as follows: | | | | | | | | | | | | | | | | Three Months Ended June 30, | Six Months Ended June 30, | | 2026 | 2025 | 2026 | 2025 | | (in millions) | Operating revenues | $ | 535 | | $ | 546 | | $ | 1,216 | | $ | 1,113 | | Other segment items(a) | 329 | | 296 | | 772 | | 599 | | Depreciation and amortization(b) | 280 | | 177 | | 558 | | 329 | | | Interest expense | 28 | | 24 | | 55 | | 50 | | | Income taxes (benefit) | (77) | | (2) | | (147) | | (3) | | Segment net income (loss)(b)(c) | $ | (25) | | $ | 51 | | $ | (22) | | $ | 138 | | | | | | | | | | | |
(a)Primarily consists of fuel, purchased power, other operations and maintenance expenses, taxes other than income taxes, and net income (loss) attributable to noncontrolling interests. (b)Includes accelerated depreciation related to the repowering of multiple wind facilities of $140 million ($109 million after tax) and $293 million ($228 million after tax) for the three and six months ended June 30, 2026, respectively, and $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" and Notes 5 and 15 to the financial statements under "Depreciation and Amortization – Southern Power" and "Southern Power – Wind Repowering Projects," respectively, in Item 8 of the Form 10-K for additional information. (c)Southern Power had no earnings from equity method investments for any period presented. Financial data for business segments for the three and six months ended June 30, 2026 and 2025 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, 2026 | | | | | | | Operating revenues | $ | 885 | | $ | 8 | | $ | 73 | | $ | 966 | | $ | 2 | | $ | (2) | | $ | 966 | | Other segment items(*) | 496 | | 1 | | 54 | | 551 | | 5 | | (2) | | 554 | | | Depreciation and amortization | 181 | | 1 | | 3 | | 185 | | — | | — | | 185 | | | Earnings from equity method investments | — | | 32 | | — | | 32 | | — | | — | | 32 | | | Interest expense | 90 | | 9 | | 1 | | 100 | | 1 | | — | | 101 | | | Income taxes (benefit) | 23 | | 7 | | 4 | | 34 | | (2) | | — | | 32 | | | Segment net income (loss) | $ | 95 | | $ | 22 | | $ | 11 | | $ | 128 | | $ | (2) | | $ | — | | $ | 126 | | | | | | | | | | | Six Months Ended June 30, 2026 | | | | | | | Operating revenues | $ | 2,785 | | $ | 16 | | $ | 358 | | $ | 3,159 | | $ | 4 | | $ | (6) | | $ | 3,157 | | Other segment items(*) | 1,673 | | 1 | | 237 | | 1,911 | | 6 | | (6) | | 1,911 | | | Depreciation and amortization | 360 | | 2 | | 5 | | 367 | | 2 | | — | | 369 | | | Earnings from equity method investments | — | | 78 | | — | | 78 | | — | | — | | 78 | | | Interest expense | 181 | | 18 | | 2 | | 201 | | 5 | | — | | 206 | | Income taxes (benefit) | 139 | | 18 | | 32 | | 189 | | (13) | | — | | 176 | | Segment net income | $ | 432 | | $ | 55 | | $ | 82 | | $ | 569 | | $ | 4 | | $ | — | | $ | 573 | | | | | | | | | | Total assets at June 30, 2026 | $ | 26,244 | | $ | 1,546 | | $ | 1,710 | | $ | 29,500 | | $ | 11,265 | | $ | (13,161) | | $ | 27,604 | | | | | | | | | | | 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 (loss) | $ | 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 December 31, 2025 | $ | 25,391 | | $ | 1,475 | | $ | 1,749 | | $ | 28,615 | | $ | 10,643 | | $ | (11,871) | | $ | 27,387 | |
(*)Primarily consists of cost of natural gas, other operations and maintenance expenses, taxes other than income taxes, AFUDC equity, and non-service cost-related retirement benefits income.
|