Company: SOJE
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000092122-25-000042
Chunk: 209

Company: SOUTHERN CO
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 8
Chunk 209
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'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITIONAND RESULTS OF OPERATIONS (Continued)

Details of Alabama Power's generation and purchased power and the related costs were as follows:

First Quarter 2025First Quarter 2024Total generation (in billions of KWHs)1515Total purchased power (in billions of KWHs)21Sources of generation (percent) —Coal3530Gas3333Nuclear2426Hydro811Cost of fuel, generated (in cents per net KWH) —Coal3.433.27Gas3.582.95Nuclear0.700.69Average cost of fuel, generated (in cents per net KWH)2.762.40Average cost of purchased power (in cents per net KWH)(*)7.527.81

(*)Average cost of purchased power includes fuel, energy, and transmission purchased by Alabama Power for tolling agreements where power is generated by the provider.

Other Operations and Maintenance Expenses

First Quarter 2025 vs. First Quarter 2024(change in millions)(% change)$5112.4

In the first quarter 2025, other operations and maintenance expenses were $463 million compared to $412 million for the corresponding period in 2024. The increase was primarily due to increases of $38 million in generation expenses primarily associated with planned outages and $8 million in certain employee compensation and benefit expenses.

Depreciation and Amortization

First Quarter 2025 vs. First Quarter 2024(change in millions)(% change)$92.5

In the first quarter 2025, depreciation and amortization was $370 million compared to $361 million for the corresponding period in 2024. The increase was primarily due to additional plant in service related to transmission and distribution systems.

Taxes Other Than Income Taxes

First Quarter 2025 vs. First Quarter 2024(change in millions)(% change)$119.2

In the first quarter 2025, taxes other than income taxes were $131 million compared to $120 million for the corresponding period in 2024. The increase was primarily due to increases of $5 million in utility license taxes and $4 million in property taxes.

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

Income Taxes

First Quarter 2025 vs. First