{"url_path":"/sec/cik-0001004155/10-k/2026/item-7","section_key":"item-7","section_title":"Item 7 MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS","topic":"sec","document":{"doc_type":"10-K","doc_date":"2026-02-19","source_url":"https://www.sec.gov/Archives/edgar/data/1004155/0000092122-26-000006-index.html","accession_number":"0000092122-26-000006","cik":"0001004155","ticker":null,"issuer_name":"SOUTHERN CO GAS","edgar_url":"https://www.sec.gov/Archives/edgar/data/1004155/0000092122-26-000006-index.html","primary_entity_key":"0001004155","primary_entity_name":"SOUTHERN CO GAS"},"word_count":179,"has_tables":true,"body_markdown":"Item 7.MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS\n\nPage\n\nCombined Management's Discussion and Analysis of Financial Condition and Results of Operations\n\n[Overview](#i5f73e41dadc741329774599f12c4776d_112)\n\nII-[3](#i5f73e41dadc741329774599f12c4776d_112)\n\n[Results of Operations](#i5f73e41dadc741329774599f12c4776d_139)\n\nII-[8](#i5f73e41dadc741329774599f12c4776d_139)\n\n[Southern Company](#i5f73e41dadc741329774599f12c4776d_145)\n\nII-[8](#i5f73e41dadc741329774599f12c4776d_145)\n\n[Alabama Power](#i5f73e41dadc741329774599f12c4776d_154)\n\nII-[16](#i5f73e41dadc741329774599f12c4776d_154)\n\n[Georgia Power](#i5f73e41dadc741329774599f12c4776d_160)\n\nII-[20](#i5f73e41dadc741329774599f12c4776d_160)\n\n[Mississippi Power](#i5f73e41dadc741329774599f12c4776d_175)\n\nII-[24](#i5f73e41dadc741329774599f12c4776d_175)\n\n[Southern Power](#i5f73e41dadc741329774599f12c4776d_181)\n\nII-[28](#i5f73e41dadc741329774599f12c4776d_181)\n\n[Southern Company Gas](#i5f73e41dadc741329774599f12c4776d_193)\n\nII-[30](#i5f73e41dadc741329774599f12c4776d_193)\n\n[Future Earnings Potential](#i5f73e41dadc741329774599f12c4776d_196)\n\nII-[35](#i5f73e41dadc741329774599f12c4776d_196)\n\n[Accounting Policies](#i5f73e41dadc741329774599f12c4776d_217)\n\nII-[46](#i5f73e41dadc741329774599f12c4776d_217)\n\n[Financial Condition and Liquidity](#i5f73e41dadc741329774599f12c4776d_250)\n\nII-[51](#i5f73e41dadc741329774599f12c4776d_250)\n\nThis section generally discusses 2025 and 2024 items and year-to-year comparisons between 2025 and 2024. Discussions of 2023 items and year-to-year comparisons between 2024 and 2023 that are not included in this Annual Report on Form 10-K can be found in Item 7 of each Registrant's Annual Report on Form 10-K for the year ended December 31, 2024, which was filed with the SEC on February 19, 2025. The following Management's Discussion and Analysis of Financial Condition and Results of Operations is a combined presentation; however, information contained herein relating to any individual Registrant is filed by such Registrant on its own behalf and each Registrant makes no representation as to information related to the other Registrants."}