Company: SOJE
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000092122-25-000076
Chunk: 391

Company: SOUTHERN CO
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 2
Chunk 391
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 the amount expensed in cost of natural gas and do not affect net income from gas distribution operations. Cost of natural gas at gas distribution operations represented 85% and 82% of the total cost of natural gas in the second quarter and year-to-date 2025, respectively. See MANAGEMENT'S DISCUSSION AND ANALYSIS – RESULTS OF OPERATIONS – "Southern Company Gas – Cost of Natural Gas" in Item 7 of the Form 10-K and "Natural Gas Revenues" herein for additional information.

In the second quarter 2025, cost of natural gas was $255 million compared to $149 million for the corresponding period in 2024. For year-to-date 2025, cost of natural gas was $929 million compared to $754 million for the corresponding period in 2024. The increases reflect higher gas cost recovery as a result of increases of 81.6% and 71.5% in natural gas prices in the second quarter and year-to-date 2025, respectively.

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

The following table details the volumes of natural gas sold during all periods presented:

Second QuarterYear-to-Date202520242025 vs. 2024202520242025 vs. 2024Gas distribution operations (mmBtu in millions)Firm102 95 7.4 %403 361 11.6 %Interruptible20 22 (9.1)43 47 (8.5)Total122 117 4.3 %446 408 9.3 %Gas marketing services (mmBtu in millions)Firm:Georgia4 5 (20.0)%22 22 — %Illinois— 1 (100.0)3 3 — Other4 2 100.0 12 9 33.3 Interruptible large commercial and industrial3 4 (25.0)7 8 (12.5)Total11 12 (8.3)%44 42 4.8 %

Other Operations and Maintenance Expenses

Second Quarter 2025 vs. Second Quarter 2024Year-to-Date 2025 vs. Year-to-Date 2024(change in millions)(% change)(change in millions)(