The Southern Company (SO) Balance Sheet: Assets & Liabilities

The Southern Company (SO) Balance Sheet

As of Dec 31, 2025 (end of fiscal 2025), The Southern Company reported total assets of $155.72B and total liabilities of $116.85B. Shareholders' equity was $38.87B, up 17.0% from $33.21B a year earlier. Total debt stood at $72.59B against $1.64B in cash and short-term investments, a net debt position of $70.95B. That puts debt-to-equity at 1.87, compared with 1.95 a year earlier.

The Southern Company Balance Sheet Analysis

Values in billions USD

Income Statement Balance Sheet Cash Flow Ratios

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Balance sheet showing assets, liabilities, and shareholders' equity for The Southern Company (SO) - Annual data in billions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Current Assets
Cash and Cash Equivalents	1.64	1.07	0.75	1.92	1.80	1.07	1.98	1.40	2.13
Cash & Short-Term Investments	1.64	1.07	0.75	1.92	1.80	1.07	1.98	1.40	2.13
Accounts Receivable	3.41	2.23	3.96	2.13	2.96	3.34	3.41	4.06	4.05
Inventory	3.33	3.37	3.35	2.68	2.36	2.49	2.39	2.39	2.63
Other Current Assets	0.81	1.63	2.37	1.64	1.85	1.73	2.05	1.73	1.27
Total Current Assets	10.92	10.69	10.43	10.42	8.97	8.62	9.82	9.58	10.07
Non-Current Assets
Property, Plant & Equipment (Net)	114.83	106.74	101.94	96.70	93.46	90.39	86.06	81.86	80.90
Long-Term Investments	1.32	1.42	3.79	1.44	3.82	3.67	3.34	3.30	3.35
Goodwill	5.16	5.16	5.16	5.16	5.28	5.28	5.28	5.32	6.27
Intangible Assets	0.30	0.33	0.37	0.41	0.45	0.49	0.54	0.61	0.87
Other Non-Current Assets	7.44	6.77	17.64	6.32	15.56	14.50	13.67	16.24	9.55
Total Non-Current Assets	144.80	134.49	128.90	124.48	118.57	114.32	108.88	107.33	100.93
Total Assets	155.72	145.18	139.33	134.89	127.53	122.94	118.70	116.91	111.01
Current Liabilities
Accounts Payable	3.71	3.70	2.90	3.53	2.17	2.81	2.56	3.44	3.08
Short-Term Debt	6.94	6.06	4.97	6.89	3.85	4.36	5.27	6.11	6.33
Accrued Liabilities	3.23	0.68	0.65	0.61	0.53	-	-	-	-
Deferred Revenue	0.48	0.49	0.50	0.50	0.48	0.49	0.50	0.52	0.54
Other Current Liabilities	2.41	1.82	4.23	1.35	3.74	3.60	3.56	3.56	3.03
Total Current Liabilities	16.89	15.99	13.47	15.72	10.92	12.08	12.55	14.29	13.59
Non-Current Liabilities
Long-Term Debt	65.65	58.77	58.52	50.66	51.62	46.68	43.41	40.74	44.46
Deferred Tax Liabilities	18.85	18.22	17.73	17.40	16.48	16.18	16.26	15.39	16.37
Other Non-Current Liabilities	32.31	2.02	14.39	1.90	15.94	15.47	14.43	17.17	10.73
Total Non-Current Liabilities	99.97	92.51	90.64	84.64	84.05	78.33	74.10	73.30	71.56
Total Liabilities	116.85	108.51	104.11	100.36	94.97	90.41	86.65	87.58	85.15
Stockholders' Equity
Common Stock	5.55	5.45	5.42	5.42	5.28	5.27	5.26	5.16	5.04
Retained Earnings	14.86	13.75	12.48	11.54	10.93	11.31	10.88	8.71	8.89
Accumulated Other Comprehensive Income	-0.08	-0.08	-0.18	-0.17	-0.24	-0.40	-0.32	-0.20	-0.19
Treasury Stock	0.06	0.06	0.06	0.05	0.05	-	-	-	-
Additional Paid-in Capital	15.74	14.15	13.72	13.67	11.90	11.79	11.69	11.06	10.43
Minority Interest	2.85	3.47	3.78	4.12	4.40	4.26	4.25	4.32	1.36
Shares Outstanding	1.12	1.10	1.09	1.10	1.06	-	-	-	-
Total Stockholders' Equity	38.87	33.21	31.44	30.41	28.17	28.26	27.80	25.01	24.49
Total Liabilities & Equity	155.72	145.18	139.33	134.89	127.53	122.94	118.70	116.91	111.01

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About The Southern Company Balance Sheet

How much debt does The Southern Company have?

The Southern Company had total debt of $72.59B as of Dec 31, 2025, against $1.64B in cash and short-term investments. Its debt-to-equity ratio was 1.87. Total debt was $64.82B a year earlier.

What are The Southern Company's total assets?

The Southern Company reported total assets of $155.72B as of Dec 31, 2025, up 7.3% from $145.18B a year earlier. Total liabilities were $116.85B.

What is The Southern Company's shareholders' equity?

The Southern Company's shareholders' equity was $38.87B as of Dec 31, 2025, or about $34.73 of book value per share.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry. Full definition