Company: SOJE
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000092122-25-000042
Chunk: 153

Company: SOUTHERN CO
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 8
Chunk 153
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 1 Total cash, cash equivalents, and restricted cash(b)$1,101 $118 $168 $44 (a)For Georgia Power, reflects proceeds from the issuance of solid waste disposal facility revenue bonds in 2022. For Southern Power, reflects proceeds from an arbitration award held to fund future replacement costs. For Southern Company, also reflects collateral of $1 million for life insurance and long-term disability insurance, which was included at Southern Holdings and Southern Company Gas at March 31, 2025 and December 31, 2024, respectively.(b)Total may not add due to rounding.Natural Gas for SaleWith the exception of Nicor Gas, Southern Company Gas records natural gas inventories on a WACOG basis. For any declines in market prices below the WACOG considered to be other than temporary, an adjustment is recorded to reduce the value of natural gas inventories to market value. Nicor Gas' natural gas inventory is carried at cost on a LIFO basis. Inventory decrements occurring during the year that are restored prior to year-end are charged to cost of natural gas at the estimated annual replacement cost. Inventory decrements that are not restored prior to year-end are charged to cost of natural gas at the actual LIFO cost of the inventory layers liquidated.Southern Company Gas recorded no material adjustments to natural gas inventories for either period presented. Nicor Gas' inventory decrement at March 31, 2025 is expected to be restored prior to year-end.

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    Table of Contents                                Index to Financial StatementsNOTES TO THE CONDENSED FINANCIAL STATEMENTS (Continued)(UNAUDITED)

Storm Damage ReservesSee Note 1 to the financial statements under "Storm Damage and Reliability Reserves" in Item 8 of the Form 10-K for additional information.Storm damage reserve activity for the traditional electric operating companies during the three months ended March 31, 2025 was as follows:SouthernCompanyAlabama PowerGeorgia PowerMississippiPower (in millions)Balance at December 31, 2024$(705)$70 $(827)$52 Accrual14 3 8 3 Weather-related damages(87)(38)(43)(6)Balance at March 31, 2025$(778)$35 $(862)$49 Depreciation and AmortizationSee Note 5 to the financial statements under "Depreciation and Amortization" in Item 8 of the Form