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Item 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

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Item 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Page
Combined Management's Discussion and Analysis of Financial Condition and Results of Operations
OverviewII-3
Results of OperationsII-8
Southern CompanyII-8
Alabama PowerII-18
Georgia PowerII-22
Mississippi PowerII-27
Southern PowerII-31
Southern Company GasII-34
Future Earnings PotentialII-39
Accounting PoliciesII-47
Financial Condition and LiquidityII-55

This section generally discusses 2021 and 2020 items and year-to-year comparisons between 2021 and 2020. Discussions of 2019 items and year-to-year comparisons between 2020 and 2019 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, 2020, which was filed with the SEC on February 17, 2021. 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.

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