Company: SOJE
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000092122-25-000042
Chunk: 279

Company: SOUTHERN CO
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 2
Chunk 279
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.3 Interruptible large commercial and industrial4 4 — Total33 29 13.8 %

Other Operations and Maintenance Expenses

First Quarter 2025 vs. First Quarter 2024(change in millions)(% change)$237.8

In the first quarter 2025, other operations and maintenance expenses were $316 million compared to $293 million for the corresponding period in 2024. The increase was primarily due to increases of $16 million in employee compensation and benefit expenses and $12 million in expenses passed through to customers primarily related to bad debt and energy efficiency programs at gas distribution operations.

Depreciation and Amortization

First Quarter 2025 vs. First Quarter 2024(change in millions)(% change)$149.0

In the first quarter 2025, depreciation and amortization was $169 million compared to $155 million for the corresponding period in 2024. The increase was primarily due to continued investments at the natural gas distribution utilities.

Taxes Other Than Income Taxes

First Quarter 2025 vs. First Quarter 2024(change in millions)(% change)$1011.5

In the first quarter 2025, taxes other than income taxes were $97 million compared to $87 million for the corresponding period in 2024. The increase was primarily due to an increase of $10 million in revenue taxes as a result of higher natural gas revenues at Nicor Gas.

105

    Table of Contents                                Index to Financial StatementsMANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITIONAND RESULTS OF OPERATIONS (Continued)

Earnings from Equity Method Investments

First Quarter 2025 vs. First Quarter 2024(change in millions)(% change)$(5)(11.4)

In the first quarter 2025, earnings from equity method investments were $39 million compared to $44 million for the corresponding period in 2024. The decrease was primarily due to lower rates at SNG. See Note 7 to the financial statements under "Southern Company Gas" in Item 8 of the Form 10-K and Note (E) to the Condensed Financial Statements herein under "Southern Company Gas" for additional information.

Interest Expense, Net of Amounts Capitalized 

First Quarter 2025 vs. First Quarter 2024(change in millions)(% change)$89.5

In the first quarter 202