Company: SOJE
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000092122-25-000076
Chunk: 413

Company: SOUTHERN CO
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 2
Chunk 413
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 respectively, primarily related to cost estimate updates at Alabama Power; and

•a decrease of $350 million in notes payable primarily due to repayment of short-term bank debt and a reduction in commercial paper borrowings.

See "Financing Activities" and Note (A) to the Condensed Financial Statements under "Asset Retirement Obligations" herein for additional information.

Alabama Power

Significant balance sheet changes for the six months ended June 30, 2025 included:

•an increase of $712 million in common stockholder's equity primarily due to net income and capital contributions from Southern Company, partially offset by dividends paid to Southern Company;

•an increase of $367 million in total property, plant, and equipment primarily related to the construction of transmission and distribution facilities;

•an increase of $351 million in long-term debt (including securities due within one year) primarily due to net issuances of senior notes;

•decreases of $305 million and $218 million in AROs and regulatory assets associated with AROs, respectively, primarily related to cost estimate updates;

•a decrease of $228 million in other accounts payable primarily due to the timing of vendor payments; and

•a decrease of $191 million in cash and cash equivalents, as reflected in the statements of cash flows and discussed further under "Analysis of Cash Flows – Alabama Power" herein.

See "Financing Activities – Alabama Power" and Note (A) to the Condensed Financial Statements under "Asset Retirement Obligations" herein for additional information.

138

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

Georgia Power

Significant balance sheet changes for the six months ended June 30, 2025 included:

•an increase of $2.4 billion in total property, plant, and equipment primarily related to the construction of generation, transmission, and distribution facilities, including costs associated with Plant Yates Units 8, 9, and 10;

•an increase of $1.8 billion in common stockholder's equity primarily due to capital contributions from Southern Company and net income, partially offset by dividends paid to Southern Company;

•an increase of $1.3 billion in long-term debt (including securities due within one year) primarily due to net issuances of senior notes;

•a decrease of $522 million in accounts payable primarily related to timing of vendor payments;

•an increase of $286 million in