The Southern Company is a holding company that owns all of the outstanding common stock of three traditional electric operating companies, Southern Power Company, and Southern Company Gas. The traditional electric operating companies provide electric service to retail customers in three Southeastern states in addition to wholesale customers in the Southeast. Southern Power develops, constructs, acquires, owns, and manages power generation assets, including renewable energy projects, and sells electricity at market-based rates in the wholesale market. Southern Company Gas is an energy services holding company whose primary business is the distribution of natural gas in four states.

• Employees: 28,100 (as of December 31, 2023)
• Geographic Footprint: Three Southeastern states (Alabama, Georgia, and Mississippi) for electric operations and four states (Illinois, Georgia, Virginia, and Tennessee) for natural gas operations.
• Headquarters: Atlanta, Georgia
• Founded: N/A
• Number of locations/facilities: Multiple generation, transmission, and distribution facilities across the Southeast
• Revenue: $25.3 billion (FY2023)
• Market Capitalization: $76.6 billion (as of June 30, 2023)
• Key Subsidiaries/Brands: Alabama Power, Georgia Power, Mississippi Power, Southern Power, Southern Company Gas, Southern Nuclear, PowerSecure, and Southern Linc.

• CEO: Christopher C. Womack
• CFO: Daniel S. Tucker
• Board Chair: Christopher C. Womack
• Other Key Executives: Bryan D. Anderson (Executive Vice President), Stanley W. Connally, Jr. (Executive Vice President), Christopher Cummiskey (Executive Vice President), Martin B. Davis (Executive Vice President and Chief Information Officer), Kimberly S. Greene (Chairman, President, and Chief Executive Officer of Georgia Power), James Y. Kerr II (Chairman, President, and Chief Executive Officer of Southern Company Gas), Stephen E. Kuczynski (Chairman and Chief Executive Officer of Southern Nuclear), J. Jeffrey Peoples (Chairman, President, and Chief Executive Officer of Alabama Power), Sterling A. Spainhour (Executive Vice President and Chief Legal Officer), Anthony L. Wilson (Chairman, President, and Chief Executive Officer of Mississippi Power)

Key leaders have extensive experience in the energy and utility sectors.

• Annual Revenue: $25.3 billion (FY2023)
• Net Income: $4.0 billion (FY2023)
• Market Cap: $76.6 billion (as of June 30, 2023)
• Total Assets: $139.3 billion (as of December 31, 2023)
• Number of Employees: 28,100 (as of December 31, 2023)
• Key Financial Highlights: Net income increased by 12.8% year-over-year.

The company's main product categories and service lines are:

• Electricity Generation and Distribution: Providing electric service to retail and wholesale customers through traditional electric operating companies.
• Wholesale Electricity: Developing, constructing, acquiring, owning, and managing power generation assets, including renewable energy projects, and selling electricity at market-based rates.
• Natural Gas Distribution: Distributing natural gas through natural gas distribution utilities.
• Other Services: Providing digital wireless communications, cellular tower space, and other services through Southern Linc, and developing distributed energy and resilience solutions and deploying microgrids through PowerSecure.

The company operates through the following segments:

• Traditional Electric Operating Companies: Alabama Power, Georgia Power, and Mississippi Power.
• Southern Power: Develops, constructs, acquires, owns, and manages power generation assets, including renewable energy projects, and sells electricity at market-based rates.
• Southern Company Gas: Distributes natural gas through natural gas distribution utilities.
• All Other: Includes segments below the quantitative threshold for separate disclosure, such as Southern Linc and PowerSecure.

The Southern Company system's strategic priorities include:

• Transitioning the generating fleet to low- and no-carbon energy sources.
• Investing in infrastructure to support reliability and growth.
• Expanding its renewable energy portfolio.
• Developing and deploying new technologies.
• Focusing on customer satisfaction and operational excellence.

The company is also focused on achieving its long-term goal of net-zero GHG emissions by 2050.

The company operates in the electric and natural gas utility industries. Key market trends affecting the business include:

• Increasing demand for clean energy.
• Technological advancements in energy generation and storage.
• Evolving regulatory landscape.
• Competition from other energy providers.

Major competitors include other investor-owned utilities, independent power producers, and other energy companies. Market share information is not explicitly provided in the filing.

• Regulatory Risks: Changes in federal and state regulations, including tax, environmental, and other laws, could impact the company's operations and financial performance.
• Operational Risks: The company faces risks related to the operation of its facilities, including accidents, equipment failure, and cyberattacks.
• Construction Risks: The company's construction projects, including Plant Vogtle Unit 4, are subject to cost overruns and schedule delays.
• Market Risks: Fluctuations in energy prices, interest rates, and financial market conditions could impact the company's profitability and ability to access capital.
• Environmental Risks: The company faces risks related to compliance with environmental laws and regulations, including those related to GHG emissions and CCR.