Company: SOJE
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000092122-25-000084
Chunk: 60

Company: SOUTHERN CO
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 1
Chunk 60
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. See Note 1 to the financial statements under "Affiliate Transactions" in Item 8 of the Form 10-K for additional information.

Lease IncomeLease income for the three and nine months ended September 30, 2025 and 2024 was as follows:SouthernCompanyAlabama PowerGeorgia PowerMississippiPowerSouthern PowerSouthern Company Gas (in millions)Three Months Ended September 30, 2025Lease income - interest income on sales-type leases$6 $— $— $4 $2 $— Lease income - operating leases38 2 7 1 37 9 Variable lease income141 — — — 151 — Total lease income$185 $2 $7 $5 $190 $9 Nine Months Ended September 30, 2025Lease income - interest income on sales-type leases$18 $— $— $11 $7 $— Lease income - operating leases104 5 22 2 111 27 Variable lease income347 1 — — 375 — Total lease income$469 $6 $22 $13 $493 $27 Three Months Ended September 30, 2024Lease income - interest income on sales-type leases$5 $— $— $3 $2 $— Lease income - operating leases38 2 13 — 20 9 Variable lease income142 — — — 152 — Total lease income$185 $2 $13 $3 $174 $9 Nine Months Ended September 30, 2024Lease income - interest income on sales-type leases$18 $— $— $11 $7 $— Lease income - operating leases108 6 28 2 63 27 Variable lease income343 — — — 370 — Total lease income$469 $6 $28 $13 $440 $27 Lease payments received under tolling arrangements and PPAs consist of either scheduled payments or variable payments based on the amount of energy produced by the underlying electric generating units. Lease income related to PPAs is included in wholesale revenues for Alabama Power, Georgia Power, and Southern Power.

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