Company: SOJE
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0000092122-25-000018
Chunk: 1864

Company: SOUTHERN CO
Filing Date: 2025-02-20
Form: 10-K
Item: Item 8
Chunk 1864
---
 follows:SouthernCompanyAlabama PowerGeorgia PowerMississippiPowerSouthern PowerSouthern Company Gas (in millions)2024Lease income - interest income on sales-type leases$24 $— $— $15 $9 $— Lease income - operating leases136 9 28 3 88 36 Variable lease income417 1 — — 450 — Total lease income$577 $10 $28 $18 $547 $36 2023Lease income - interest income on sales-type leases$24 $— $— $14 $10 $— Lease income - operating leases164 35 29 2 85 37 Variable lease income406 1 — — 437 — Total lease income$594 $36 $29 $16 $532 $37 2022Lease income - interest income on sales-type leases$25 $— $— $15 $10 $— Lease income - operating leases208 77 32 2 85 36 Variable lease income417 1 — — 448 — Total lease income$650 $78 $32 $17 $543 $36 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. Scheduled payments to be received under outdoor lighting contracts' initial terms, tolling arrangements, and PPAs accounted for as leases are presented in the following maturity analyses.

II-183

    Table of Contents                                Index to Financial StatementsCOMBINED NOTES TO FINANCIAL STATEMENTS

The undiscounted cash flows expected to be received for in-service leased assets under the leases are as follows:At December 31, 2024Southern CompanyMississippi PowerSouthernPower (in millions)2025$52 $24 $15 202638 23 15 202737 22 15 202836 21 15 202935 20 15 Thereafter302 132 170 Total undiscounted cash flows$500 $242 $245 Net investment in sales-type lease(*)297 139 158 Difference between undiscounted cash flows and