Company: SOJE
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0000092122-25-000018
Chunk: 741

Company: SOUTHERN CO
Filing Date: 2025-02-20
Form: 10-K
Item: Item 7
Chunk 741
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 annual interest requirement is derived from a variable rate index. SEGCO had no short-term debt outstanding at December 31, 2024. See Note 7 under "SEGCO" for additional information.As discussed in Note 9, Alabama Power and Georgia Power have entered into certain residual value guarantees related to railcar leases, with Georgia Power's railcar leases terminating in June 2024.

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    Table of Contents                                Index to Financial StatementsCOMBINED NOTES TO FINANCIAL STATEMENTS

4. REVENUE FROM CONTRACTS WITH CUSTOMERS

The Registrants generate revenues from a variety of sources, some of which are not accounted for as revenue from contracts with customers, such as leases, derivatives, and certain cost recovery mechanisms. Included in the wholesale electric revenues of the traditional electric operating companies and Southern Power are revenues associated with affiliate transactions. These revenues are generated through long-term PPAs or short-term energy sales made in accordance with the IIC, as approved by the FERC. Amounts related to these affiliate revenues are eliminated in consolidation for Southern Company. See Note 1 under "Affiliate Transactions" and "Revenues" for additional information. See Notes 9 and 14 for additional information on revenue accounted for under lease and derivative accounting guidance, respectively.The following table disaggregates revenue from contracts with customers for the periods presented:Southern CompanyAlabama PowerGeorgia PowerMississippi PowerSouthern PowerSouthern Company Gas(in millions)2024Operating revenuesRetail electric revenuesResidential$8,276 $3,133 $4,835 $308 $— $— Commercial6,585 2,042 4,219 324 — — Industrial3,892 1,742 1,808 342 — — Other124 13 102 9 — — Total retail electric revenues18,877 6,930 10,964 983 — — Natural gas distribution revenuesResidential1,753 — — — — 1,753 Commercial417 — — — — 417 Transportation1,295 — — — — 1,295 Industrial 34 — — — — 34 Other316 — — — — 316 Total natural gas distribution revenues3,815 — — — — 3,815 Wholesale electric revenuesPPA energy revenues