Company: SOJE
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000092122-25-000076
Chunk: 165

Company: SOUTHERN CO
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 1
Chunk 165
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2025 included:

•an increase of $99 million in long-term debt (including securities due within one year) primarily due to issuances of senior notes;

•an increase of $83 million in total property, plant, and equipment primarily related to the construction of transmission and distribution facilities;

•an increase of $75 million in common stockholder's equity related to net income and capital contributions from Southern Company, partially offset by dividends paid to Southern Company;

•an increase of $53 million in other deferred credits and liabilities primarily due to contributions in aid of construction; and

•a decrease of $49 million in accrued taxes is primarily due to the payment of ad valorem taxes.

See "Financing Activities – Mississippi Power" herein for additional information.

Southern Power

Significant balance sheet changes for the six months ended June 30, 2025 included:

•an increase of $200 million in notes payable due to an increase in commercial paper borrowings;

•an increase of $136 million in total property, plant, and equipment due to an increase in CWIP primarily related to the continued construction of the Millers Branch solar facility and wind repowering projects, partially offset by the continued depreciation of assets;

•an increase of $67 million in long-term debt (including securities due within one year) primarily due to the change in fair value related to the foreign currency hedge on euro-denominated senior notes; and

•an increase of $62 million in customer accounts receivable, net primarily related to the timing of customer receivables.

See Notes (I) and (J) to the Condensed Financial Statements and Note (K) to the Condensed Financial Statements under "Southern Power" herein for additional information.

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

Southern Company Gas

Significant balance sheet changes for the six months ended June 30, 2025 included:

•an increase of $446 million in total property, plant, and equipment primarily related to the construction of transportation and distribution assets;

•a decrease of $208 million in total accounts receivable primarily related to seasonality;

•an increase of $202 million in common stockholder's equity primarily related to net income, partially offset by dividends paid to Southern Company;

•a decrease of $191 million in natural gas for sale due to higher volumes of natural gas sold; and

•an increase of $182 million in cash