The Southern Company Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	4,171	4,260	3,849	3,428	2,309
Depreciation & Amortization	6,030	5,266	4,986	4,064	3,973
Stock-Based Compensation	136	132	137	127	144
Other Adjustments	-934	-1,291	-1,284	-1,477	527
Change in Receivables	-124	-372	482	-771	-77
Changes in Inventories	44	-49	-713	-285	-31
Changes in Accounts Payable	-290	492	-863	1,021	-8
Changes in Accrued Expenses	125	30	42	-	-
Changes in Income Taxes Payable	-36	206	23	51	-
Changes in Other Operating Activities	680	1,114	894	144	-668
Operating Cash Flow	9,802	9,788	7,553	6,302	6,169
Operating Cash Flow Growth	0.14%	29.59%	19.85%	2.16%	-7.87%
Capital Expenditures	-12,737	-8,955	-9,095	-7,923	-7,586
Sale of Property, Plant & Equipment	1	369	164	275	917
Purchases of Investments	-1,702	-1,551	-1,142	-1,125	-1,598
Proceeds from Sale of Investments	1,685	1,535	1,121	1,112	1,593
Payments for Business Acquisitions	-635	-	-	-	-
Other Investing Activities	-571	-798	-716	-769	-679
Investing Cash Flow	-13,959	-9,400	-9,668	-8,430	-7,353
Short-Term Debt Issued	200	700	350	2,650	325
Short-Term Debt Repaid	-	-1,020	-1,630	-1,150	-25
Net Short-Term Debt Issued (Repaid)	200	-320	-1,280	1,500	300
Long-Term Debt Issued	12,470	6,159	8,972	5,132	8,262
Long-Term Debt Repaid	-5,464	-2,222	-4,294	-2,158	-4,327
Net Long-Term Debt Issued (Repaid)	7,006	3,937	4,678	2,974	3,935
Issuance of Common Stock	1,623	143	36	1,808	73
Net Common Stock Issued (Repurchased)	1,623	143	36	1,808	73
Repurchase of Preferred Stock	-	-	-	-298	-
Net Preferred Stock Issued (Repurchased)	-	-	-	-298	-
Common Dividends Paid	-3,015	-2,954	-3,035	-2,907	-2,777
Other Financing Activities	-1,118	-1,014	600	-741	414
Financing Cash Flow	4,696	-208	999	2,336	1,945
Net Cash Flow	539	180	-1,116	208	761
Free Cash Flow	-2,935	833	-1,542	-1,621	-1,417
FCF Margin	-9.93%	3.12%	-6.11%	-5.54%	-6.13%
Free Cash Flow Per Share	-2.65	0.76	-1.40	-1.50	-1.33
Levered Free Cash Flow	5,363	6,122	2,648	5,070	2,308
Unlevered Free Cash Flow	-105.64	3,862	434.94	1,431	-1,005

Updated Dec 31, 2025. Data Source: Fiscal.ai. Utilities template. Financial Sources.