Company: SOJE
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000092122-25-000042
Chunk: 90

Company: SOUTHERN CO
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 1
Chunk 90
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 application production costs, $15 million in transmission and distribution line maintenance costs, and $13 million in certain employee compensation and benefit expenses, partially offset by a $12 million increase in billing adjustments with integrated transmission system owners.

See Note 2 to the financial statements under "Georgia Power – Nuclear Construction" in Item 8 of the Form 10-K for additional information.

Depreciation and Amortization

First Quarter 2025 vs. First Quarter 2024(change in millions)(% change)$7818.4

In the first quarter 2025, depreciation and amortization was $503 million compared to $425 million for the corresponding period in 2024. The increase was primarily due to increases of $50 million associated with additional plant in service and $31 million in amortization of regulatory assets related to CCR AROs as approved in the 2025 compliance filing under the terms of the 2022 ARP. See Note 2 to the financial statements under "Georgia Power – Rate Plans" in Item 8 of the Form 10-K for additional information.

Taxes Other Than Income Taxes

First Quarter 2025 vs. First Quarter 2024(change in millions)(% change)$2315.6

In the first quarter 2025, taxes other than income taxes were $170 million compared to $147 million for the corresponding period in 2024. The increase was primarily due to an increase of $11 million in municipal franchise fees resulting from higher retail revenues, an increase of $6 million in property taxes primarily resulting from an increase in the assessed value of property, and a decrease of $5 million in property taxes capitalized primarily due to Plant Vogtle Unit 4 being placed in service in April 2024. See Note 2 to the financial statements under "Georgia Power – Nuclear Construction" in Item 8 of the Form 10-K for additional information on Plant Vogtle Unit 4.

Allowance for Equity Funds Used During Construction

First Quarter 2025 vs. First Quarter 2024(change in millions)(% change)$923.1

In the first quarter 2025, allowance for equity funds used during construction was $48 million compared to $39 million for the corresponding period in 2024. The increase was primarily due to an increase in capital expenditures subject to AFUDC, partially offset by the impact of Plant Vogtle Unit 4 being placed in service in April 2024. See Note 2 to