What is Southern Company's construction payables?

Southern Company (SO) reported construction payables of -$251M in Q1 2026.

What does construction payables mean?

The change in money owed to vendors for ongoing construction projects.

How do you interpret construction payables?

A decrease indicates the company is paying down construction debt, while an increase suggests rising unpaid liabilities for ongoing capital projects.

How does construction payables compare across companies?

Often found in the 'Changes in working capital' section of the cash flow statement for construction-heavy firms.

Southern Company SO Construction payables

Construction payables at other companies

AvalonBay CommunitiesAVB

$19.07M+686%

AvalonBay CommunitiesAVB

$15.28M+549%

Williams CompaniesWMB

$84M+394%

Hyatt HotelsH

$250K+125%

Colgate-PalmoliveCL

-$11M+80.7%

Texas Pacific LandTPL

$497K+332%

Other financials

Income statement

See full

Revenue$8.4B+8.0%

Operating income$2.0B+0.4%

Net income$1.4B+1.7%

EPS (diluted)$1.20-0.8%

Balance sheet

See full

Cash & equivalents$987.0M-57.7%

Total debt$75.3B—

Total equity$39.9B+7.2%

Total assets$157.03B—

Cash flow

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Operating cash flow$1.2B-1.9%

CapEx$2.9B+20.8%

Free cash flow-$1.7B-44.7%

Valuation

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Market cap$104.94B+7.1%

Enterprise value$179.21B—

P/E18.8×—

P/S3.3×-0.4×

Profitability

See full

Operating margin18.7%-2.5pp

Net margin13.1%—

Returns & leverage

See full

Return on equity9%—

Debt / equity1.9×—

Current ratio0.7×—

Where this comes from

Reported directly by Southern Company in its filing.

Tagged under the XBRL concept so:ChangeInConstructionPayables.

The official record: Southern Company’s 10-Q, filed April 30, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Southern Company's construction payables?: Southern Company (SO) reported construction payables of -$251M in Q1 2026.
What does construction payables mean?: The change in money owed to vendors for ongoing construction projects.
How do you interpret construction payables?: A decrease indicates the company is paying down construction debt, while an increase suggests rising unpaid liabilities for ongoing capital projects.
How does construction payables compare across companies?: Often found in the 'Changes in working capital' section of the cash flow statement for construction-heavy firms.