Company: SOJE
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0000092122-25-000018
Chunk: 1086

Company: SOUTHERN CO
Filing Date: 2025-02-20
Form: 10-K
Item: Item 1
Chunk 1086
---
 of income or loss and tax attributes in accordance with the liquidation provisions and allocation terms defined in the agreements, as well as whether the inputs in the models are accurate and complete.

/s/ Deloitte & Touche LLP

Atlanta, Georgia

February 19, 2025

We have served as Southern Power's auditor since 2002.

II-98

    Table of Contents                                Index to Financial Statements

CONSOLIDATED STATEMENTS OF INCOME

For the Years Ended December 31, 2024, 2023, and 2022

Southern Power Company and Subsidiary Companies

202420232022(in millions)Operating Revenues:Wholesale revenues, non-affiliates$1,606 $1,597 $2,458 Wholesale revenues, affiliates371 537 875 Other revenues37 55 36 Total operating revenues2,014 2,189 3,369 Operating Expenses:Fuel579 706 1,614 Purchased power78 116 311 Other operations and maintenance516 473 483 Depreciation and amortization522 504 516 Taxes other than income taxes41 51 49 Gain on dispositions, net— (20)(2)Total operating expenses1,736 1,830 2,971 Operating Income278 359 398 Other Income and (Expense):Interest expense, net of amounts capitalized(117)(129)(138)Other income (expense), net13 12 7 Total other income and (expense)(104)(117)(131)Earnings Before Income Taxes174 242 267 Income taxes (benefit)(13)12 20 Net Income187 230 247 Net loss attributable to noncontrolling interests(141)(127)(107)Net Income Attributable to Southern Power$328 $357 $354 

The accompanying notes are an integral part of these consolidated financial statements. 

II-99

    Table of Contents                                Index to Financial Statements

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

For the Years Ended December 31, 2024, 2023, and 2022

Southern Power Company and Subsidiary Companies

202420232022(in millions)Net Income$187 $230 $247 Other comprehensive income:Qualifying hedges:Changes in fair value, net of tax of