Georgia Power Co 8-K, filed Nov 4, 2021

Georgia Power Co (GPJA)

8-K 2021-11-04 For: 2021-11-04

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Added on April 10, 2026

About this 8-K

Georgia Power Co filed this 8-K on November 4, 2021.

Items reported

Item 2.02: Financial results

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☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


Registrant	Title of each class	Trading Symbol(s)	Name of each exchange on which registered
The Southern Company	Common Stock, par value $5 per share	SO	New York Stock Exchange
The Southern Company	Series 2016A 5.25% Junior Subordinated Notes due 2076	SOJB	New York Stock Exchange
The Southern Company	Series 2017B 5.25% Junior Subordinated Notes due 2077	SOJC	New York Stock Exchange
The Southern Company	2019 Series A Corporate Units	SOLN	New York Stock Exchange
The Southern Company	Series 2020A 4.95% Junior Subordinated Notes due 2080	SOJD	New York Stock Exchange
The Southern Company	Series 2020C 4.20% Junior Subordinated Notes due 2060	SOJE	New York Stock Exchange
The Southern Company	Series 2021B 1.875% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2081	SO 81	New York Stock Exchange
Alabama Power Company	5.00% Series Class A Preferred Stock	ALP PR Q	New York Stock Exchange
Georgia Power Company	Series 2017A 5.00% Junior Subordinated Notes due 2077	GPJA	New York Stock Exchange
Southern Power Company	Series 2016A 1.000% Senior Notes due 2022	SO/22B	New York Stock Exchange
Southern Power Company	Series 2016B 1.850% Senior Notes due 2026	SO/26A	New York Stock Exchange


			Exhibit 99.01			Press Release.
			Exhibit 99.02			Financial Highlights.
			Exhibit 99.03			Significant Factors Impacting EPS.
			Exhibit 99.04			EPS Earnings Analysis.
			Exhibit 99.05			Consolidated Earnings.
			Exhibit 99.06			Kilowatt-Hour Sales and Customers.
			Exhibit 99.07			Financial Overview.
			Exhibit 104			Cover Page Interactive Data File – The cover page iXBRL tags are embedded within the inline XBRL document.


Date: November 4, 2021	THE SOUTHERN COMPANY
	By	/s/Ann P. Daiss
		Ann P. Daiss Comptroller

	ALABAMA POWER COMPANY GEORGIA POWER COMPANY MISSISSIPPI POWER COMPANY SOUTHERN POWER COMPANY SOUTHERN COMPANY GAS
	By	/s/Melissa K. Caen
		Melissa K. Caen Assistant Secretary


		Exhibit 99.01

News

Media Contact:	Southern Company Media Relations
	404-506-5333 or 1-866-506-5333
	www.southerncompany.com

Investor Relations Contact:
	Scott Gammill
	404-506-0901
	sagammil@southernco.com
		November 4, 2021


			Date of Report (Date of earliest event reported)			November 4, 2021


Non-GAAP Financial Measures	Three Months Ended September				Year-to-Date September
Net Income - Excluding Items (in millions)	2021		2020		2021		2020
Net Income - As Reported	$	1,101	$	1,251	$	2,608	$	2,732
Less:
Estimated Loss on Plants Under Construction	(271)		3		(779)		(151)
Tax Impact	69		(1)		198		39
Acquisition and Disposition Impacts	119		—		120		38
Tax Impact	(112)		—		(112)		(16)
Wholesale Gas Services	—		(62)		18		(61)
Tax Impact	1		17		(3)		16
Asset Impairments	(2)		—		(91)		(154)
Tax Impact	(7)		—		19		80
Net Income - Excluding Items	$	1,304	$	1,294	$	3,238	$	2,941
Average Shares Outstanding - (in millions)	1,061		1,058		1,060		1,058
Basic Earnings Per Share - Excluding Items	$	1.23	$	1.22	$	3.05	$	2.78


Exhibit 99.02
Page 1
Southern Company
Financial Highlights
(In Millions of Dollars Except Earnings Per Share)

	Three Months Ended September				Year-To-Date September
Net Income–As Reported (See Notes)	2021		2020		2021		2020
Traditional Electric Operating Companies	$	1,085	$	1,284	$	2,352	$	2,571
Southern Power	78		74		211		212
Southern Company Gas	56		14		389		360
Total	1,219		1,372		2,952		3,143
Parent Company and Other	(118)		(121)		(344)		(411)
Net Income–As Reported	$	1,101	$	1,251	$	2,608	$	2,732

Basic Earnings Per Share1	$	1.04	$	1.18	$	2.46	$	2.58
Average Shares Outstanding (in millions)	1,061		1,058		1,060		1,058
End of Period Shares Outstanding (in millions)					1,060		1,056

Non-GAAP Financial Measures	Three Months Ended September				Year-To-Date September
Net Income–Excluding Items (See Notes)	2021		2020		2021		2020
Net Income–As Reported	$	1,101	$	1,251	$	2,608	$	2,732
Less:
Estimated Loss on Plants Under Construction2	(271)		3		(779)		(151)
Tax Impact	69		(1)		198		39
Acquisition and Disposition Impacts3	119		—		120		38
Tax Impact	(112)		—		(112)		(16)
Wholesale Gas Services4	—		(62)		18		(61)
Tax Impact	1		17		(3)		16
Asset Impairments5	(2)		—		(91)		(154)
Tax Impact	(7)		—		19		80


Net Income–Excluding Items	$	1,304	$	1,294	$	3,238	$	2,941

Basic Earnings Per Share–Excluding Items	$	1.23	$	1.22	$	3.05	$	2.78
-See Notes on the following page.


Exhibit 99.05

Southern Company
Consolidated Earnings
As Reported
(In Millions of Dollars)
	Three Months Ended September						Year-To-Date September
	2021		2020		Change		2021		2020		Change
Income Account-
Retail Electric Revenues-
Fuel	$	1,186	$	949	$	237	$	2,899	$	2,301	$	598
Non-Fuel	3,365		3,294		71		8,593		8,202		391
Wholesale Electric Revenues	731		584		147		1,822		1,473		349
Other Electric Revenues	179		164		15		525		484		41
Natural Gas Revenues	623		477		146		2,994		2,362		632
Other Revenues	154		152		2		513		436		77
Total Revenues	6,238		5,620		618		17,346		15,258		2,088
Fuel and Purchased Power	1,522		1,163		359		3,642		2,801		841
Cost of Natural Gas	129		71		58		943		654		289
Cost of Other Sales	71		72		(1)		255		201		54
Non-Fuel O&M	1,446		1,286		160		4,257		3,785		472
Depreciation and Amortization	896		889		7		2,658		2,619		39
Taxes Other Than Income Taxes	312		304		8		969		932		37
Estimated Loss on Plant Vogtle Units 3 and 4	264		—		264		772		149		623
(Gain) Loss on Dispositions, net	(125)		—		(125)		(179)		(39)		(140)
Total Operating Expenses	4,515		3,785		730		13,317		11,102		2,215
Operating Income	1,723		1,835		(112)		4,029		4,156		(127)
Allowance for Equity Funds Used During Construction	49		38		11		140		106		34
Earnings from Equity Method Investments	30		33		(3)		35		105		(70)
Interest Expense, Net of Amounts Capitalized	451		443		8		1,352		1,343		9
Impairment of Leveraged Leases	—		—		—		7		154		(147)
Other Income (Expense), net	131		113		18		297		319		(22)
Income Taxes	372		293		79		550		443		107
Net Income	1,110		1,283		(173)		2,592		2,746		(154)
Less:
Dividends on Preferred Stock of Subsidiaries	4		4		—		11		11		—
Net Income (Loss) Attributable to Noncontrolling Interests	5		28		(23)		(27)		3		(30)
NET INCOME ATTRIBUTABLE TO SOUTHERN COMPANY	$	1,101	$	1,251	$	(150)	$	2,608	$	2,732	$	(124)


Exhibit 99.06


Southern Company
Kilowatt-Hour Sales and Customers
(In Millions of KWHs)

	Three Months Ended September						Year-To-Date September
	2021	2020	Change		Weather Adjusted Change		2021	2020	Change		Weather Adjusted Change
Kilowatt-Hour Sales-
Total Sales	54,134	53,099	1.9	%			146,576	140,910	4.0	%

Total Retail Sales-	40,441	40,218	0.6	%	3.0	%	109,747	106,724	2.8	%	2.4	%
Residential	14,063	14,740	(4.6)	%	0.5	%	36,941	36,485	1.2	%	(0.1)	%
Commercial	13,458	13,140	2.4	%	4.2	%	35,701	34,611	3.2	%	3.3	%
Industrial	12,762	12,177	4.8	%	4.8	%	36,632	35,129	4.3	%	4.3	%
Other	158	161	(2.3)	%	(2.1)	%	473	499	(5.2)	%	(5.3)	%

Total Wholesale Sales	13,693	12,881	6.3	%	N/A		36,829	34,186	7.7	%	N/A


(In Thousands of Customers)

							Period Ended September
							2021	2020	Change
Regulated Utility Customers-
Total Utility Customers-							8,656	8,580	0.9%
Total Traditional Electric							4,373	4,322	1.2%
Southern Company Gas							4,283	4,258	0.6%


Exhibit 99.07

Southern Company
Financial Overview
As Reported
(In Millions of Dollars)
	Three Months Ended September						Year-To-Date September
	2021		2020		% Change		2021		2020		% Change
Southern Company –
Operating Revenues	$	6,238	$	5,620	11.0	%	$	17,346	$	15,258	13.7	%
Earnings Before Income Taxes	1,482		1,576		(6.0)	%	3,142		3,189		(1.5)	%
Net Income Available to Common	1,101		1,251		(12.0)	%	2,608		2,732		(4.5)	%

Alabama Power –
Operating Revenues	$	1,904	$	1,729	10.1	%	$	5,019	$	4,445	12.9	%
Earnings Before Income Taxes	655		578		13.3	%	1,566		1,340		16.9	%
Net Income Available to Common	499		444		12.4	%	1,189		1,022		16.3	%

Georgia Power –
Operating Revenues	$	2,856	$	2,617	9.1	%	$	7,050	$	6,371	10.7	%
Earnings Before Income Taxes	649		945		(31.3)	%	1,111		1,609		(31.0)	%
Net Income Available to Common	536		773		(30.7)	%	1,030		1,411		(27.0)	%

Mississippi Power –
Operating Revenues	$	378	$	336	12.5	%	$	988	$	895	10.4	%
Earnings Before Income Taxes	60		79		(24.1)	%	155		158		(1.9)	%
Net Income Available to Common	50		67		(25.4)	%	133		138		(3.6)	%

Southern Power –
Operating Revenues	$	679	$	523	29.8	%	$	1,610	$	1,337	20.4	%
Earnings Before Income Taxes	92		116		(20.7)	%	181		242		(25.2)	%
Net Income Available to Common	78		74		5.4	%	211		212		(0.5)	%

Southern Company Gas –
Operating Revenues	$	623	$	477	30.6	%	$	2,994	$	2,362	26.8	%
Earnings Before Income Taxes	189		17		N/M		613		458		33.8	%
Net Income Available to Common	56		14		N/M		389		360		8.1	%


Item 2.02			Results of Operations and Financial Condition