Company: SOJE
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000092122-25-000076
Chunk: 414

Company: SOUTHERN CO
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 2
Chunk 414
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 accumulated deferred income taxes primarily related to increases in property-related timing differences and a valuation allowance on certain state tax credit carryforwards, partially offset by decreases for timing differences in fuel recovery and customer advances; and

•a decrease of $234 million in accrued taxes primarily due to payments for municipal franchise fees and property taxes.

See "Financing Activities – Georgia Power" and Notes (B) and (G) to the Condensed Financial Statements under "Georgia Power – Other Construction" and "Georgia Power," respectively, herein for additional information.

Mississippi Power

Significant balance sheet changes for the six months ended June 30, 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)