Southern Company (The) (SO) Financial Statements (2024 and earlier)

Company Profile

Business Address 30 IVAN ALLEN JR. BLVD., N.W.
ATLANTA, GA 30308
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 4911 - Electric Services (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in millions)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1,9171,7981,0651,9751,3962,130
Cash and cash equivalents1,9171,7981,0651,9751,3962,130
Receivables2,0671,7281,6351,5651,6761,825
Inventory, net of allowances, customer advances and progress billings1,0138121,0101,0009291,189
Inventory1,0138121,0101,0009291,189
Prepaid expense347330276314432452
Deferred costs 108266    
Derivative instruments and hedges, assets1151516636111,023607
Disposal group, including discontinued operation  42  9 
Asset, held-for-sale, not part of disposal group   60188393 
Other current assets344231222188162211
Other undisclosed current assets4,5053,6073,6863,9763,5633,658
Total current assets:10,4168,9658,6179,8179,58310,072
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization292197218216
Operating lease, right-of-use asset1,5311,7011,8021,800
Property, plant and equipment94,57091,10887,63483,08080,79779,872
Long-term investments and receivables9,75710,20210,38610,33410,29611,510
Long-term investments9,75710,20210,38610,33410,29611,510
Regulated entity, other noncurrent assets511501517547531432
Disposal group, including discontinued operation, noncurrent assets    6015,350 
Deferred costs      
Other noncurrent assets1,4851,7761,2881,0711,4631,577
Other undisclosed noncurrent assets16,32913,08412,47311,2348,8947,542
Total noncurrent assets:124,475118,569114,318108,883107,331100,933
TOTAL ASSETS:134,891127,534122,935118,700116,914111,005
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities6,0904,4634,6794,2404,7384,596
Interest and dividends payable533513474472488
Taxes payable691829659656619
Employee-related liabilities1,0701,0259921,030959
Accounts payable3,5252,1692,3122,1152,5802,530
Accrued liabilities2,565     
Debt6,8943,5974,1165,0446,1136,331
Derivative instruments and hedges, liabilities   494442856546
Asset retirement obligation694697585504404351
Other liabilities965872968830852868
Customer advances and deposits542
Other undisclosed current liabilities1,0811,2921,2371,4861,323360
Total current liabilities:15,72410,92112,07912,54614,28613,594
Noncurrent Liabilities
Long-term debt and lease obligation, including:50,65650,12045,07341,79840,73644,462
Finance lease, liability296199214205
Other undisclosed long-term debt and lease obligation50,36048,41843,24839,97840,73644,462
Liabilities, other than long-term debt26,10824,43423,41822,11814,24216,918
Deferred revenue and credits2,267
Accumulated deferred investment tax credit2,1332,2162,2352,2912,372
Asset retirement obligations10,14610,99010,0999,2828,9904,473
Deferred tax liabilities, net 6,842
Deferred income tax liabilities10,0368,8628,1757,888
Liability, pension and other postretirement and postemployment benefits1,2381,5502,2131,8142,1472,256
Accrued environmental loss contingencies   216234268389
Other liabilities1,167816480609465691
Operating lease, liability1,3881,5031,6111,615
Other undisclosed noncurrent liabilities7,8719,4929,84010,18818,32010,179
Total noncurrent liabilities:84,63584,04678,33174,10473,29871,559
Total liabilities:100,35994,96790,41086,65087,58485,153
Temporary equity, carrying amount  291291291291324
Equity
Equity, attributable to parent30,40827,87427,97227,50524,72324,167
Common stock5,4175,2795,2685,2575,1645,038
Treasury stock, value(53)(47)(46)(42)(38)(36)
Additional paid in capital13,67311,95011,83411,73411,09410,469
Accumulated other comprehensive loss(167)(237)(395)(321)(203)(189)
Retained earnings11,53810,92911,31110,8778,7068,885
Equity, attributable to noncontrolling interest4,1244,4024,262  1,361
Other undisclosed equity    4,2544,316 
Total equity:34,53232,27632,23431,75929,03925,528
TOTAL LIABILITIES AND EQUITY:134,891127,534122,935118,700116,914111,005

Income Statement (P&L) ($ in millions)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues29,27923,11320,37521,41923,49523,031
Cost of revenue(21,836)(17,837)(13,837)(14,382)(17,582)(18,751)
Gross profit:7,4435,2766,5387,0375,9134,280
Operating expenses(2,073)(1,578)(1,653)699(1,722)(1,729)
Operating income:5,3703,6984,8857,7364,1912,551
Nonoperating expense(1,147)(1,122)(1,389)(1,194)(1,442)(1,483)
Public utilities, allowance for funds used during construction, capitalized cost of equity224190149128138160
Other nonoperating income (expense)500456336252114(55)
Interest and debt expense(2,022)(1,837)(1,821)(1,736)(1,842)(1,694)
Income (loss) from continuing operations before equity method investments, income taxes:2,2017391,6754,806907(626)
Other undisclosed income from continuing operations before income taxes2,0221,8371,8211,7361,8421,694
Income from continuing operations before income taxes:4,2232,5763,4966,5422,7491,068
Income tax expense(795)(267)(393)(1,798)(449)(142)
Income from continuing operations:3,4282,3093,1034,7442,300926
Income before gain (loss) on sale of properties:2,3093,1034,7442,300926
Net income:3,4282,3093,1034,7442,300926
Net income (loss) attributable to noncontrolling interest107993110(58)(46)
Net income attributable to parent:3,5352,4083,1344,7542,242880
Preferred stock dividends and other adjustments (11)(15)(15)(15)(16)(38)
Net income available to common stockholders, diluted:3,5242,3933,1194,7392,226842

Comprehensive Income ($ in millions)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:3,4282,3093,1034,7442,300926
Other comprehensive income (loss)71158(75)(118)26(9)
Comprehensive income:3,4992,4673,0284,6262,326917
Comprehensive income (loss), net of tax, attributable to noncontrolling interest107993110(58)(46)
Other undisclosed comprehensive loss, net of tax, attributable to parent (11)(15)(15)(15)(16)(38)
Comprehensive income, net of tax, attributable to parent:3,5952,5513,0444,6212,252833

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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