Company: SOJE
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000092122-25-000084
Chunk: 243

Company: SOUTHERN CO
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 8
Chunk 243
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 31 — Total revenue from contracts with customers20,513 5,926 9,259 1,131 1,143 3,117 Other revenue sources(*)(130)(123)(514)(13)454 103 Total operating revenues$20,383 $5,803 $8,745 $1,118 $1,597 $3,220 (*)Other revenue sources relate to revenues from customers accounted for as derivatives and leases, alternative revenue programs primarily at Southern Company Gas, and cost recovery mechanisms and revenues (including those related to fuel costs) that meet other scope exceptions for revenues from contracts with customers at the traditional electric operating companies.

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    Table of Contents                                Index to Financial StatementsNOTES TO THE CONDENSED FINANCIAL STATEMENTS (Continued)(UNAUDITED)

Contract BalancesThe following table reflects the closing balances of receivables, contract assets, and contract liabilities related to revenues from contracts with customers at September 30, 2025 and December 31, 2024:Southern CompanyAlabama PowerGeorgia PowerMississippi PowerSouthern PowerSouthern Company Gas(in millions)Accounts ReceivableAt September 30, 2025$2,942 $827 $1,390 $137 $106 $331 At December 31, 20243,048 783 1,244 113 106 660 Contract AssetsAt September 30, 2025$443 $8 $283 $— $— $74 At December 31, 2024323 3 184 — — 72 Contract LiabilitiesAt September 30, 2025$185 $15 $72 $2 $2 $— At December 31, 2024140 11 34 — 2 3 Contract assets for Georgia Power primarily relate to unregulated service agreements, where payment is contingent on project completion, and retail customer fixed bill programs, where the payment is contingent upon Georgia Power's continued performance and the customer's continued participation in the program over a one-year contract term. Contract liabilities for Georgia Power primarily relate to cash collections recognized in advance of revenue for unregulated service agreements. Southern Company Gas' contract assets relate to work performed on an energy efficiency enhancement and upgrade contract with the U.S. General Services Administration. Southern Company Gas received cash advances totaling approximately $68 million from a third-party