Company: SOJE
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000092122-25-000084
Chunk: 136

Company: SOUTHERN CO
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 1
Chunk 136
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 decreases for the third quarter and year-to-date 2025 were primarily due to decreases of $108 million and $93 million, respectively, in property taxes primarily resulting from the actualization of prior-year tax assessments, partially offset by increases of $4 million and $19 million, respectively, in municipal franchise fees resulting from higher retail revenues.

Allowance for Equity Funds Used During Construction

Third Quarter 2025 vs. Third Quarter 2024Year-to-Date 2025 vs. Year-to-Date 2024(change in millions)(% change)(change in millions)(% change)$3081.1$6358.3

In the third quarter 2025, allowance for equity funds used during construction was $67 million compared to $37 million for the corresponding period in 2024. For year-to-date 2025, allowance for equity funds used during construction was $171 million compared to $108 million for the corresponding period in 2024. The increases were primarily due to an increase in capital expenditures subject to AFUDC. Partially offsetting the increase for year-to-date 2025 was the impact of Plant Vogtle Unit 4 being placed in service in April 2024. See Note 2 to the financial statements under "Georgia Power – Nuclear Construction" in Item 8 of the Form 10-K for additional information on Plant Vogtle Unit 4.

Interest Expense, Net of Amounts Capitalized

Third Quarter 2025 vs. Third Quarter 2024Year-to-Date 2025 vs. Year-to-Date 2024(change in millions)(% change)(change in millions)(% change)$168.7$427.7

In the third quarter 2025, interest expense, net of amounts capitalized was $200 million compared to $184 million for the corresponding period in 2024. For year-to-date 2025, interest expense, net of amounts capitalized was $585 million compared to $543 million for the corresponding period in 2024. The increases for the third quarter and year-to-date 2025 were primarily associated with increases of approximately $20 million and $43 million, respectively, related to higher average outstanding borrowings, partially offset by increases of $8 million and $10 million, respectively, in AFUDC debt related to increased capital expenditures. Also contributing to the increase for year-to-

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