SOUTHERN Co GAS (GAS) 10-K 4 Feb 10 2009 FY Annual report Financial data

UNAUDITED CONSOLIDATED STATEMEN

UNAUDITED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (USD $)
In Millions	Dec. 31, 2009	Dec. 31, 2008
Current assets
Cash and cash equivalents (Note 1)	$26	$16
Receivables (Note 1)
Energy marketing receivables	615	549
Gas	178	264
Unbilled revenues	155	181
Other	29	27
Less allowance for uncollectible accounts	14	16
Total receivables	963	1,005
Inventories (Note 1)
Natural gas stored underground	649	629
Other	23	34
Total inventories	672	663
Derivative financial instruments - current portion (Note 1 and Note 2)	188	207
Unrecovered regulatory infrastructure program costs - current portion (Note 1)	43	41
Unrecovered environmental remediation costs – current portion (Note 1 and Note 7)	11	18
Other current assets	97	92
Total current assets	2,000	2,042
Long-term assets and other deferred debits
Property, plant and equipment	5,939	5,500
Less accumulated depreciation	1,793	1,684
Property, plant and equipment - net (Note 1)	4,146	3,816
Goodwill (Note 1)	418	418
Unrecovered regulatory infrastructure program costs (Note 1)	223	196
Unrecovered environmental remediation costs (Note 1 and Note 7)	161	125
Derivative financial instruments (Note 1 and Note 2)	52	38
Other	74	75
Total long-term assets and other deferred debits	5,074	4,668
Total assets	7,074	6,710
Current liabilities
Short-term debt (Note 6)	602	866
Energy marketing trade payable	524	539
Accounts payable – trade	237	202
Accrued wages and salaries	56	42
Accrued regulatory infrastructure program costs - current portion (Note 1)	55	49
Derivative financial instruments - current portion (Note 1 and Note 2)	52	50
Customer deposits	41	50
Accrued interest (Note 7)	41	35
Accrued taxes	35	36
Deferred natural gas costs (Note 1)	30	25
Accrued environmental remediation liabilities – current portion (Note 1 and Note 7)	25	17
Other current liabilities	74	72
Total current liabilities	1,772	1,983
Long-term liabilities and other deferred credits
Long-term debt (Note 6)	1,974	1,675
Accrued deferred income taxes (Note 1 and Note 8)	695	571
Accumulated removal costs (Note 1)	183	178
Accrued pension obligations (Note 3)	159	199
Accrued regulatory infrastructure program costs (Note 1)	155	140
Accrued environmental remediation liabilities (Note 1 and Note 7)	119	89
Accrued postretirement benefit costs (Note 3)	38	46
Derivative financial instruments (Note 1 and Note 2)	10	6
Other long-term liabilities and other deferred credits	150	139
Total long-term liabilities and other deferred credits	3,483	3,043
Total liabilities and other deferred credits	5,255	5,026
Equity
AGL Resources Inc. common shareholders’ equity, $5 par value; 750 million shares authorized	1,780	1,652
Noncontrolling interest (Note 5)	39	32
Total equity	1,819	1,684
Total liabilities and equity	$7,074	$6,710

PARENTHETICAL INFORMATION FOR S

PARENTHETICAL INFORMATION FOR STATEMENTS OF FINANCIAL POSITION (USD $)
	Dec. 31, 2009	Dec. 31, 2008
Statement of Financial Position (Unaudited)
Common Stock, par value	5	5
Common Stock, shares authorized	750,000,000	750,000,000

1_UNAUDITED CONSOLIDATED STATEM

UNAUDITED CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Millions, except Per Share data	12 Months Ended Dec. 31, 2009	12 Months Ended Dec. 31, 2008	12 Months Ended Dec. 31, 2007
Income Statement [Abstract]
Operating revenues (Note 1)	$2,317	$2,800	$2,494
Operating expenses
Cost of gas (Note 1)	1,142	1,654	1,369
Operation and maintenance	497	472	451
Depreciation and amortization (Note 1)	158	152	144
Taxes other than income taxes	44	44	41
Total operating expenses	1,841	2,322	2,005
Operating income	476	478	489
Other income	9	6	4
Interest expense, net	(101)	(115)	(125)
Earnings before income taxes	384	369	368
Income tax expense (Note 8)	135	132	127
Net income	249	237	241
Less net income attributable to the noncontrolling interest (Note 5)	27	20	30
Net income attributable to AGL Resources Inc.	$222	$217	$211
Per common share data (Note 1)
Basic earnings per common share attributable to AGL Resources Inc. common shareholders	2.89	2.85	2.74
Diluted earnings per common share attributable to AGL Resources Inc. common shareholders	2.88	2.84	2.72
Cash dividends declared per common share	1.72	1.68	1.64
Weighted-average number of common shares outstanding (Note 1)
Basic	76.8	76.3	77.1
Diluted	77.1	76.6	77.4

2_UNAUDITED CONSOLIDATED STATEM

UNAUDITED CONSOLIDATED STATEMENTS OF EQUITY (USD $)
In Millions, except Share data	12 Months Ended Dec. 31, 2009	12 Months Ended Dec. 31, 2008	12 Months Ended Dec. 31, 2007	Dec. 31, 2006
AGL Resources Inc. Common Shareholders Equity, Beginning Balance	$1,684	$1,708	$1,651
Net income	249	237	241
Other comprehensive income (loss)	18	(126)	17
Dividends on common stock	(127)	(124)	(123)
Distributions to noncontrolling interest	(20)	(30)	(23)
Issuance of treasury shares, amount	8	9	16
Purchase of treasury shares, amount			(80)
Stock-based compensation expense (net of tax), amount	7	10	9
AGL Resources Inc. Common Shareholders Equity, Ending Balance	1,819	1,684	1,708	1,651
Common Stock [Member]
AGL Resources Inc. Common Shareholders Equity, Beginning Balance	390	390	390
Common stock shares, Beginning Balance	76,900,000	76,400,000	77,700,000
Issuance of treasury shares, shares	600,000	500,000	700,000
Purchase of treasury shares, shares			(2,000,000)
Common stock shares, Ending Balance	77,500,000	76,900,000	76,400,000	77,700,000
AGL Resources Inc. Common Shareholders Equity, Ending Balance	390	390	390	390
Accumulated Other Comprehensive Income [Member]
AGL Resources Inc. Common Shareholders Equity, Beginning Balance	(134)	(13)	(32)
Other comprehensive income (loss)	18	(121)	19
AGL Resources Inc. Common Shareholders Equity, Ending Balance	(116)	(134)	(13)	(32)
Additional Paid-in Capital [Member]
AGL Resources Inc. Common Shareholders Equity, Beginning Balance	676	667	664
Issuance of treasury shares, amount	(4)	(1)	(6)
Stock-based compensation expense (net of tax), amount	7	10	9
AGL Resources Inc. Common Shareholders Equity, Ending Balance	679	676	667	664
Retained Earnings [Member]
AGL Resources Inc. Common Shareholders Equity, Beginning Balance	763	680	601
Net income	222	217	211
Dividends on common stock	(132)	(128)	(127)
Issuance of treasury shares, amount	(5)	(6)	(5)
AGL Resources Inc. Common Shareholders Equity, Ending Balance	848	763	680	601
Treasury Stock [Member]
AGL Resources Inc. Common Shareholders Equity, Beginning Balance	(43)	(63)	(14)
Dividends on common stock	5	4	4
Issuance of treasury shares, amount	17	16	27
Purchase of treasury shares, amount			(80)
AGL Resources Inc. Common Shareholders Equity, Ending Balance	(21)	(43)	(63)	(14)
Noncontrolling Interest [Member]
AGL Resources Inc. Common Shareholders Equity, Beginning Balance	32	47	42
Net income	27	20	30
Other comprehensive income (loss)		(5)	(2)
Distributions to noncontrolling interest	(20)	(30)	(23)
AGL Resources Inc. Common Shareholders Equity, Ending Balance	$39	$32	$47	$42

3_PARENTHETICAL INFORMATION FOR

PARENTHETICAL INFORMATION FOR STATEMENTS OF EQUITY (USD $)
	12 Months Ended Dec. 31, 2009	12 Months Ended Dec. 31, 2008	12 Months Ended Dec. 31, 2007
Statement of Stockholders' Equity [Abstract]
Dividends on common stock	1.72	1.68	1.64

4_UNAUDITED CONSOLIDATED STATEM

UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (USD $)
In Millions	12 Months Ended Dec. 31, 2009	12 Months Ended Dec. 31, 2008	12 Months Ended Dec. 31, 2007
Comprehensive income attributable to AGL Resources Inc. (net of tax)
Net income attributable to AGL Resources Inc.	$222	$217	$211
Gain (loss) resulting from unfunded pension and postretirement obligation during the period	17	(111)	24
Derivative financial instruments unrealized (losses) gains arising during the period	(12)	(4)	3
Reclassification of derivative financial instruments realized losses (gains) included in net income	13	(6)	(8)
Other comprehensive income (loss)	18	(121)	19
Comprehensive income (Note 1)	240	96	230
Comprehensive income (loss) attributable to noncontrolling interest (net of tax)
Net income attributable to noncontrolling interest	27	20	30
Derivative financial instruments unrealized (losses) gains arising during the period	(7)	(1)	1
Reclassification of derivative financial instruments realized losses (gains) included in net income	7	(4)	(3)
Other comprehensive loss	0	(5)	(2)
Comprehensive income (Note 1)	27	15	28
Total comprehensive income (net of tax)
Net income	249	237	241
Gain (loss) resulting from unfunded pension and postretirement obligation during the period	17	(111)	24
Derivative financial instruments unrealized (losses) gains arising during the period	(19)	(5)	4
Reclassification of derivative financial instruments realized losses (gains) included in net income	20	(10)	(11)
Other comprehensive income (loss)	18	(126)	17
Comprehensive income (Note 1)	$267	$111	$258

5_UNAUDITED CONSOLIDATED STATEM

UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Millions	12 Months Ended Dec. 31, 2009	12 Months Ended Dec. 31, 2008	12 Months Ended Dec. 31, 2007
Cash flows from operating activities
Net income	$249	$237	$241
Depreciation and amortization (Note 1)	158	152	144
Deferred income taxes (Note 8)	105	89	30
Change in derivative financial instrument assets and liabilities (Note 2)	11	(129)	74
Gas, unbilled and other receivables (Note 1)	108	(65)	(15)
Gas and trade payables	35	30	(35)
Accrued expenses	19	26	(34)
Inventories (Note 1)	(9)	(112)	46
Energy marketing receivables and energy marketing trade payables, net	(81)	10	(26)
Other – net	(3)	(11)	(48)
Net cash flow provided by operating activities	592	227	377
Cash flows from investing activities
Expenditures for property, plant and equipment	(476)	(372)	(259)
Other	0	0	6
Net cash flow used in investing activities	(476)	(372)	(253)
Cash flows from financing activities
Issuances of senior notes (Note 6)	297	0	125
Issuance of treasury shares (Note 1)	8	9	16
Distribution to noncontrolling interest (Note 5)	(20)	(30)	(23)
Dividends paid on common shares (Note 1)	(127)	(124)	(123)
Net payments and borrowings of short-term debt	(264)	286	52
Issuances of variable rate gas facility revenue bonds (Note 6)	0	161	0
Payments of gas facility revenue bonds (Note 6)	0	(161)	0
Payments of medium-term notes	0	0	(11)
Payments of trust preferred securities	0	0	(75)
Purchase of treasury shares (Note 1)	0	0	(80)
Other	0	1	(3)
Net cash flow (used in) provided by financing activities	(106)	142	(122)
Net increase (decrease) in cash and cash equivalents	10	(3)	2
Cash and cash equivalents at beginning of period	16	19	17
Cash and cash equivalents at end of period	26	16	19
Cash paid during the period for
Interest	93	115	127
Income taxes	$50	$27	$118

Accounting Policies and Methods

Accounting Policies and Methods of Application
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to the Financial Statements [Abstract]
Accounting Policies and Methods of Application	Note 1 - Accounting Policies and Methods of Application General AGL Resources Inc. is an energy services holding company that conducts substantially all its operations through its subsidiaries. Unless the context requires otherwise, references to we, us, our, the company, or AGL Resources mean consolidated AGL Resources Inc. and its subsidiaries. We have prepared the accompanying consolidated financial statements under the rules of the SEC. Basis of Presentation Our consolidated financial statements as of and for the period ended December 31, 2009, include our accounts, the accounts of our majority-owned and controlled subsidiaries and the accounts of variable interest entities for which we are the primary beneficiary. This means that our accounts are combined with the subsidiaries accounts. We have eliminated any intercompany profits and transactions in consolidation; however, we have not eliminated intercompany profits when such amounts are probable of recovery under the affiliates rate regulation process. Certain amounts from prior periods have been reclassified and revised to conform to the current period presentation. Cash and Cash Equivalents Our cash and cash equivalents consist primarily of cash on deposit, money market accounts and certificates of deposit with original maturities of three months or less. Receivables and Allowance for Uncollectible Accounts Our receivables consist of natural gas sales and transportation services billed to residential, commercial, industrial and other customers. We bill customers monthly, and accounts receivable are due within 30 days. For the majority of our receivables, we establish an allowance for doubtful accounts based on our collection experience and other factors. On certain other receivables where we are aware of a specific customers inability or reluctance to pay, we record an allowance for doubtful accounts against amounts due to reduce the net receivable balance to the amount we reasonably expect to collect. However, if circumstances change, our estimate of the recoverability of accounts receivable could be different. Circumstances that could affect our estimates include, but are not limited to, customer credit issues, the level of natural gas prices, customer deposits and general economic conditions. We write-off our customers accounts once we deem them to be uncollectible. Inventories For our distribution operations subsidiaries, we record natural gas stored underground at WACOG. For Sequent and SouthStar, we account for natural gas inventory at the lower of WACOG or market price. Sequent and SouthStar evaluate the average cost of their natural gas inventories against market prices to determine whether any declines in market prices below the WACOG are other than temporary. For any declines considered to be other than temporary, adjustments are recorded to reduce the weighted average cost of the natural gas inventory to market price. Consequently, as a result of declining natural gas prices, Sequent recorded LOCOM adjustments against cost of gas to reduce the value of its inventories to market value of $8 million in 2009, $40 million in 2008 and $4 milli

Derivative Financial Instrument

Derivative Financial Instruments and Risk Management
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to the Financial Statements [Abstract]
Derivative Financial Instruments and Risk Management	Note 2 Derivative Financial Instruments Netting of Cash Collateral and Derivative Assets and Liabilities under Master Netting Arrangements We maintain accounts with brokers to facilitate financial derivative transactions in support of our energy marketing and risk management activities. Based on the value of our positions in these accounts and the associated margin requirements, we may be required to deposit cash into these broker accounts. The authoritative guidance related to derivatives and hedging requires that we offset cash collateral held in our broker accounts on our consolidated statements of financial position with the associated fair value of the instruments in the accounts. Our cash collateral amounts were $57 million as of December 31, 2009 and were $124 million as of December 31, 2008. Derivative Financial Instruments Our risk management activities are monitored by our Risk Management Committee, which consists of members of senior management and is charged with reviewing and enforcing our risk management activities and policies. Our use of derivative financial instruments and physical transactions is limited to predefined risk tolerances associated with pre-existing or anticipated physical natural gas sales and purchases and system use and storage. We use the following types of derivative financial instruments and physical transactions to manage natural gas price, interest rate, weather, automobile fuel price and foreign currency risks: forward contracts futures contracts options contracts financial swaps treasury locks weather derivative contracts storage and transportation capacity transactions foreign currency forward contracts Our derivative financial instruments do not contain any material credit-risk-related or other contingent features that could increase the payments for collateral we post in the normal course of business when our financial instruments are in net liability positions. For information on our energy marketing receivables and payables, which do have credit-risk-related or other contingent features, refer to Note 1. Our derivative financial instrument activities are included within operating cash flows as an adjustment to net income of $11 million in 2009, $(129) million in 2008 and $74 million in 2007. Natural Gas Derivative Financial Instruments The fair value of natural gas derivative financial instruments we use to manage exposures arising from changing natural gas prices reflects the estimated amounts that we would receive or pay to terminate or close the contracts at the reporting date, taking into account the current unrealized gains or losses on open contracts. We use external market quotes and indices to value substantially all the derivative financial instruments we use. Distribution Operations In accordance with a directive from the New Jersey BPU, Elizabethtown Gas enters into derivative financial instruments to hedge the impact of market fluctuations in natural gas prices. Pursuant to the authoritative guidance related to derivatives and hedging, such derivative transactions are accounted for at fair value each re

Employee Benefit Plans

Employee Benefit Plans
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to the Financial Statements [Abstract]
Employee Benefit Plans	Note 3 - Employee Benefit Plans Accounting for employee benefit plans The authoritative guidance related to retirement benefits requires that we recognize all obligations related to defined benefit pensions and other postretirement benefits and quantify the plans funding status as an asset or a liability on our consolidated statements of financial position. The guidance further requires that we measure the plans assets and obligations that determine our funded status as of the end of the fiscal year. We are also required to recognize as a component of OCI the changes in funded status that occurred during the year that are not recognized as part of net periodic benefit cost as explained in authoritative guidance related to pension and postretirement benefits. Based on the funded status of our defined benefit pension and postretirement benefit plans as of December 31, 2009, we reported an after-tax gain to our OCI of $17 million ($28 million before tax), a net decrease of $48 million to accrued pension and postretirement obligations and an increase of $11 million to accumulated deferred income taxes. Oversight of Plans The Retirement Plan Investment Committee (the Committee) appointed by our Board of Directors is responsible for overseeing the investments of the retirement plans. Further, we have an Investment Policy (the Policy) for the retirement and postretirement benefit plans that aims to preserve these plans capital and maximize investment earnings in excess of inflation within acceptable levels of capital market volatility. To accomplish this goal, the retirement and postretirement benefit plans assets are actively managed to optimize long-term return while maintaining a high standard of portfolio quality and diversification. We will continue to diversify retirement plan investments to minimize the risk of large losses in a single asset class. We do not have a concentration of assets in a single entity, industry, country, commodity or class of investment fund. The Policys permissible investments include domestic and international equities (including convertible securities and mutual funds), domestic and international fixed income (corporate and U.S. government obligations), cash and cash equivalents and other suitable investments. Equity market performance and corporate bond rates have a significant effect on our reported unfunded projected benefit obligation (PBO) and accumulated postretirement benefit obligation (APBO), as the primary factors that drive the value of our unfunded PBO and APBO are the assumed discount rate and the actual return on plan assets. Additionally, equity market performance has a significant effect on our market-related value of plan assets (MRVPA), which is used by our largest pension plan. The MRVPA is a calculated value and differs from the actual market value of plan assets. The MRVPA also recognizes the difference between the actual market value and expected market value of our plan assets and is determined by our actuaries using a five-year moving weighted average methodology. Gains and losses on plan assets are spread through the MRVPA based on the five-year moving weighted average

Compensation Related Costs and

Compensation Related Costs and Share Based Payments
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to the Financial Statements [Abstract]
Stock based and Other Incentive Compensation Plans and Agreements	Note 4 - Stock-based and Other Incentive Compensation Plans and Agreements General We currently sponsor the following stock-based and other incentive compensation plans and agreements: Shares issuable upon exercise of outstanding stock options and / or SARs (1) Shares issuable and / or SARs available for issuance (1) Details 2007 Omnibus Performance Incentive Plan 514,987 4,147,782 Grants of incentive and nonqualified stock options, stock appreciation rights (SARs), shares of restricted stock, restricted stock units and performance cash awards to key employees. Long-Term Incentive Plan (1999) (2) 2,039,248 - Grants of incentive and nonqualified stock options, shares of restricted stock and performance units to key employees. Officer Incentive Plan 60,731 211,409 Grants of nonqualified stock options and shares of restricted stock to new-hire officers. 2006 Non-Employee Directors Equity Compensation Plan not applicable 152,740 Grants of stock to non-employee directors in connection with non-employee director compensation (for annual retainer, chair retainer and for initial election or appointment). 1996 Non-Employee Directors Equity Compensation Plan 40,213 14,304 Grants of nonqualified stock options and stock to non-employee directors in connection with non-employee director compensation (for annual retainer and for initial election or appointment). The plan was amended in 2002 to eliminate the granting of stock options. Employee Stock Purchase Plan not applicable 258,065 Nonqualified, broad-based employee stock purchase plan for eligible employees (1) As of December 31, 2009 (2) Following shareholder approval of the Omnibus Performance Incentive Plan in 2008, no further grants will be made except for reload options that may be granted under the plans outstanding options. Accounting Treatment and Compensation Expense Effective January 1, 2006, we adopted authoritative guidance related to stock compensation, using the modified prospective application transition method. Prior to January 1, 2006, we accounted for our share-based payment transactions in accordance with guidance previously amended. This allowed us to account for our stock-based compensation plans under the intrinsic value method. The authoritative guidance related to stock compensationrequires us to measure and recognize stock-based compensation expense in our financial statements based on the estimated fair value at the date of grant for our stock-based awards, which include: stock options stock awards, and performance units (restricted stock units and performance cash units) Performance-based stock awards and performance units contain market conditions. Stock options, restricted stock awards and performance units also contain a service condition. In accordance with this guidance, we recognize compensation expense over the requisite service period for: awards granted on or after January 1, 2006 and unvested awards previously granted and outstanding as of January 1, 2006 In ad

Variable Interest Entity

Variable Interest Entity
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to the Financial Statements [Abstract]
Variable Interest Entity	Note 5 Variable Interest Entity Noncontrolling Interests As of December 31, 2009, we owned a noncontrolling 70% financial interest in SouthStar, a joint venture with Piedmont who owns the remaining 30%. SouthStar markets natural gas and related services under the trade name Georgia Natural Gas to retail customers primarily in Georgia as well as to commercial and industrial customers, principally in Florida, Ohio, Tennessee, North Carolina, South Carolina and Alabama. Our 70% interest is noncontrolling because all significant management decisions require approval by both owners. Although our ownership interest in the SouthStar partnership is 70%, under an amended and restated joint venture agreement executed in March 2004, SouthStar's earnings are currently allocated 75% to us and 25% to Piedmont except for earnings related to customers in Ohio and Florida, which are currently allocated 70% to us and 30% to Piedmont. In July 2009, we entered into an amended joint venture agreement with Piedmont pursuant to which we purchased an additional 15% ownership interest for $58 million, effective January 1, 2010, thus increasing our interest to 85%. Piedmont will retain the remaining 15% share. Earnings are now allocated entirely in accordance with the ownership interests. As part of the agreement, our interest will remain a noncontrolling interest and we will have no further option rights to Piedmonts remaining 15% ownership interest. The agreement was approved by the Georgia Commission in October 2009. We are the primary beneficiary of SouthStars activities and have determined that SouthStar is a VIE as defined by the authoritative guidance related to consolidations, which requires us to consolidate the VIE. We determined that SouthStar was a VIE because our equal voting rights with Piedmont are not proportional to our economic obligation to absorb 75% of any losses or residual returns from SouthStar, except those losses and returns related to customers in Ohio and Florida. In addition, SouthStar obtains substantially all its transportation capacity for delivery of natural gas through our wholly-owned subsidiary, Atlanta Gas Light. The nature of restrictions on SouthStars assets are immaterial. The primary risks associated with SouthStar include weather, government regulation, competition, market risk, natural gas prices, economic conditions, inflation and bad debt. See Note 9 for statements of income, statements of financial position and capital expenditure information related to the retail energy operations segment. On January 1, 2009, we adopted additional authoritative guidance relating to consolidations, and applied the presentation and disclosure requirements retrospectively for all periods presented. The additional guidance required that the noncontrolling interest be reported as a separate component of equity on our consolidated statements of financial position. Additionally, prior to adoption of the guidance, we recorded our earnings allocated to Piedmont as a component of earnings before income taxes in our consolidated statements of income. The additional guidance requires that any net income attributable to the no

Debt

Debt
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to the Financial Statements [Abstract]
Debt	Note 6 - Debt Our issuance of various securities, including long-term and short-term debt, is subject to customary approval,authorization or review by state and federal regulatory bodies, including state public service commissions, the SEC and the FERC as granted by the Energy Policy Act of 2005. The following table shows our long-term debt included in our consolidated statements of financial position. We estimate the fair value using a discounted cash flow technique that incorporates a market interest yield curve with adjustments for duration, optionality and risk profile.In determining the market interest yield curve, we considered our currently assigned ratings for unsecured debt of BBB+ by SP, Baa1 by Moodys and A- by Fitch. Year(s) Interest Weighted average Outstanding as of December 31, In millions due rate (1) interest rate (1) 2009 2008 Short-term debt Commercial paper 2010 0.4 % 0.7 % $ 601 $ 273 Capital leases 2010 4.9 4.9 1 1 Credit Facility 2010 - 1.2 - 500 SouthStar line of credit 2010 - 1.1 - 75 Sequent lines of credit (2) 2010 - 1.0 - 17 Total short-term debt 0.4 % 0.8 % $ 602 $ 866 Long-term debt Senior notes Issued February 2001 2011 7.1 % 7.1 % $ 300 $ 300 Issued July 2003 2013 4.5 4.5 225 225 Issued December 2004 2015 5.0 5.0 200 200 Issued June 2006 December 2007 2016 6.4 6.4 300 300 Issued August 2009 2019 5.3 5.3 300 - Issue September 2004 2034 6.0 6.0 250 250 Total 5.8 % 5.8 % 1,575 1,275 Gas facility revenue bonds Issued July 1994 2022 0.2 0.2 47 47 Issued July 1994 2024 0.4 0.6 20 20 Issued June 1992 2026 0.2 0.2 39 39 Issued June 1992 2032 0.2 0.2 55 55 Issued July 1997 2033 5.3 5.3 39 39 Total 1.2 % 1.2 % 200 200 Medium-term notes Issued June 1992 2012 8.3 8.4 8.3 8.4 15 15 Issued July 1997 2017 7.2 7.2 22 22 Issued February 1991 2021 9.1 9.1 30 30 Issued April - May 1992 2022 8.6 8.7 8.6 8.7 46 46 Issued November 1996 2026 6.6 6.6 30 30 Issued July 1997 2027 7.3 7.3 53 53 Total 7.8 % 7.8 % 196 196 Capital leases 2013 4.9 % 4.9 % 3 4 Total long-term debt (3) 5.5 % 5.5 % 1,974 $ 1,675 Total debt 4.3 % 4.6 % $ 2,576 $ 2,541 (1) As of or for the year ended December 31, 200

Commitments and Contingencies

Commitments and Contingencies
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to the Financial Statements [Abstract]
Commitments and Contingencies	Note 7 - Commitments and Contingencies We have incurred various contractual obligations and financial commitments in the normal course of our operating and financing activities that are reasonably likely to have a material affect on liquidity or the availability of capital resources. These obligations may result from both general financing activities and from commercial arrangements that are directly supported by related revenue-producing activities. The following table illustrates our expected future contractual payments such as debt and lease agreements, and commitment and contingencies as of December 31, 2009. 2011 2013 2015 In millions Total 2010 2012 2014 thereafter Recorded contractual obligations: Long-term debt $ 1,974 $ - $ 318 $ 225 $ 1,431 Short-term debt 602 602 - - - Pipeline replacement program costs (1) 210 55 111 44 - Environmental remediation liabilities (1) 144 25 54 38 27 Total $ 2,930 $ 682 $ 483 $ 307 $ 1,458 Unrecorded contractual obligations and commitments(2): Pipeline charges, storage capacity and gas supply (3) $ 2,049 $ 510 $ 712 $ 354 $ 473 Interest charges (4) 1,014 109 176 156 573 Operating leases (5) 115 28 40 14 33 Asset management agreements (6) 37 23 14 - - Pension contributions (7) 21 21 - - - Standby letters of credit, performance / surety bonds 19 18 1 - - Total $ 3,255 $ 709 $ 943 $ 524 $ 1,079 (1) Includes charges recoverable through rate rider mechanisms. (2) In accordance with GAAP, these items are not reflected in our consolidated statements of financial position. (3) Includes charges recoverable through a natural gas cost recovery mechanism or alternatively billed to Marketers and demand charges associated with Sequent. The gas supply amount includes SouthStar gas commodity purchase commitments of 16 Bcf at floating gas prices calculated using forward natural gas prices as of December 31, 2009, and is valued at $97 million. As we do for other subsidiaries, we provide guarantees to certain gas suppliers for SouthStar in support of payment obligations. (4) Floating rate debt is based on the interest rate as of December 31, 2009 and the maturity of the underlying debt instrument. As of December 31, 2009, we have $41 million of accrued interest on our consolidated statements of financial position that will be paid in 2010. (5) We have certain operating leases with provisions for step rent or escalation payments and certain lease concessions. We account for these leases by recognizing the future minimum lease payments on a straight-line basis over the respective minimum lease terms, in accordance with authoritative guidance related to leases. However, this lease accounting treatment does not aff

Income Taxes

Income Taxes
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to the Financial Statements [Abstract]
Income Taxes	Note 8 - Income Taxes We have two categories of income taxes in our consolidated statements of income: current and deferred. Current income tax expense consists of federal and state income tax less applicable tax credits related to the current year. Deferred income tax expense generally is equal to the changes in the deferred income tax liability and regulatory tax liability during the year. Investment and Other Tax Credits Deferred investment tax credits associated with distribution operations are included as a regulatory liability in our consolidated statements of financial position (see Note 1, Accounting Policies and Methods of Application). These investment tax credits are being amortized over the estimated life of the related properties as credits to income in accordance with regulatory requirements. In 2007, we invested in a guaranteed affordable housing tax credit fund. We reduce income tax expense in our consolidated statements of income for the investment tax credits and other tax credits associated with our nonregulated subsidiaries, including the affordable housing credits. Components of income tax expense shown in the consolidated statements of income are shown in the following table. Income Tax Expense The relative split between current and deferred taxes is due to a variety of factors including true ups of prior year tax returns, and most importantly, the timing of our property-related deductions. In millions 2009 2008 2007 Current income taxes Federal $ 22 $ 37 $ 86 State 8 7 12 Deferred income taxes Federal 95 77 23 State 11 12 7 Amortization of investment tax credits (1 ) (1 ) (1 ) Total $ 135 $ 132 $ 127 The reconciliations between the statutory federal income tax rate, the effective rate and the related amount of tax for the years ended December 31, 2009, 2008 and 2007 on our consolidated statements of income are presented in the following table. Our adoption of the authoritative guidance relating to consolidations (see Note 5) had no effect on the total income tax expense reported in our consolidated statements of income or on our accrued federal and state income taxes, including accumulated deferred income taxes as reported in our consolidated statements of financial position. In millions 2009 2008 2007 Computed tax expense at statutory rate $ 134 $ 129 $ 129 State income tax, net of federal income tax benefit 16 15 14 Tax effect of net income attributable to the noncontrolling interest (11 ) (8 ) (12 ) Amortization of investment tax credits (1 ) (1 ) (1 ) Affordable housing credits (2 ) (2 ) (1 ) Flexible dividend deduction (2 ) (2 ) (2 ) Other net 1 1 - Total income tax expense on consolidated statements of income $ 135 $ 132 $ 127 Accumulated Deferred Income Tax Assets and Liabilities We report some of our assets and liabilities differently for fi

Segment Information

Segment Information
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to the Financial Statements [Abstract]
Segment Information	Note 9 - Segment Information We generate nearly all our operating revenues through the sale, distribution, transportation and storage of natural gas. Our operating segments comprise revenue-generating components of our company for which we produce separate financial information internally that we regularly use to make operating decisions and assess performance.Our determination of reportable segments considers the strategic operating units under which we manage sales of various products and services to customers in differing regulatory environments. We manage our businesses through four operating segments distribution operations, retail energy operations, wholesale services and energy investments and a nonoperating corporate segment. Our distribution operations segment is the largest component of our business and includes natural gas local distribution utilities in six states - Florida, Georgia, Maryland, New Jersey, Tennessee and Virginia. These utilities construct, manage, and maintain intrastate natural gas pipelines and distribution facilities. Although the operations of our distribution operations segment are geographically dispersed, the operating subsidiaries within the distribution operations segment are regulated utilities, with rates determined by individual state regulatory commissions. These natural gas distribution utilities have similar economic and risk characteristics. We are also involved in several related and complementary businesses. Our retail energy operations segment includes retail natural gas marketing to end-use customers primarily in Georgia. Our wholesale services segment includes natural gas asset management and related logistics activities for each of our utilities as well as for nonaffiliated companies, natural gas storage arbitrage and related activities. Our energy investments segment includes a number of aggregated businesses that are related and complimentary to our primary business. The most significant is the development and operation of high-deliverability natural gas storage assets. Our corporate segment includes intercompany eliminations and aggregated subsidiaries that are not significant enough on a stand-alone basis to warrant treatment as an operating segment, and that do not fit into one of our four operating segments. We evaluate segment performance based primarily on the non-GAAP measure of EBIT, which includes the effects of corporate expense allocations. EBIT is a non-GAAP measure that includes operating income and other income and expenses. Items we do not include in EBIT are financing costs, including interest and debt expense and income taxes, each of which we evaluate on a consolidated level. We believe EBIT is a useful measurement of our performance because it provides information that can be used to evaluate the effectiveness of our businesses from an operational perspective, exclusive of the costs to finance those activities and exclusive of income taxes, neither of which is directly relevant to the efficiency of those operations. You should not consider EBIT an alternative to, or a more meaningful indicator of, our operating performance than operating income or net inc

Disclosure of Interim Reporting

Disclosure of Interim Reporting
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to the Financial Statements [Abstract]
Quarterly Financial Data (Unaudited)	Note 10 - Quarterly Financial Data (Unaudited) Our quarterly financial data for 2009, 2008 and 2007 are summarized below. The variance in our quarterly earnings is the result of the seasonal nature of our primary business. In millions, except per share amounts March 31 June 30 Sept. 30 Dec. 31 2009 Operating revenues $ 995 $ 377 $ 307 $ 638 Operating income 230 55 43 148 Net income attributable to AGL Resources Inc. 119 20 12 71 Basic earnings per common share attributable to AGL Resources Inc. common shareholders 1.55 0.26 0.16 0.92 Diluted earnings per common share attributable to AGL Resources Inc. common shareholders 1.55 0.26 0.16 0.92 2008 Operating revenues $ 1,012 $ 444 $ 539 $ 805 Operating income 188 6 126 158 Net income (loss) attributable to AGL Resources Inc. 89 (11 ) 65 74 Basic earnings (loss) per common share attributable to AGL Resources Inc. common shareholders 1.17 (0.15 ) 0.85 0.97 Diluted earnings (loss) per share attributable to AGL Resources Inc. common shareholders 1.16 (0.15 ) 0.85 0.97 2007 Operating revenues $ 973 $ 467 $ 369 $ 685 Operating income 216 78 55 140 Net income attributable to AGL Resources Inc. 102 30 13 66 Basic earnings per common share attributable to AGL Resources Inc. common shareholders 1.31 0.40 0.17 0.86 Diluted earnings per common share attributable to AGL Resources Inc. common shareholders 1.30 0.40 0.17 0.86 Our basic and diluted earnings per common share are calculated based on the weighted daily average number of common shares and common share equivalents outstanding during the quarter. Those totals differ from the basic and diluted earnings per common share attributable to AGL Resources Inc. common shareholders shown in the consolidated statements of income, which are based on the weighted average number of common shares and common share equivalents outstanding during the entire year.

Document Information

Document Information
	12 Months Ended Dec. 31, 2009 USD / shares
Document Information [Text Block]
Document Type	10-K
Document Period End Date	2009-12-31
Amendment Flag	false

Entity Information

Entity Information (USD $)
	12 Months Ended Dec. 31, 2009	Jan. 29, 2010	Jun. 30, 2009
Entity [Text Block]
Entity Registrant Name	AGL RESOURCES INC
Entity Central Index Key	0001004155
Current Fiscal Year End Date	--12-31
Entity Well Known Seasoned Issuer	Yes
Entity Voluntary Filers	Yes
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$2,458,113,574
Entity Common Stock Shares Outstanding		77,543,821