Company: SOJE
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000092122-25-000076
Chunk: 127

Company: SOUTHERN CO
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 1
Chunk 127
---
 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.

Allowance for Equity Funds Used During Construction

Second Quarter 2025 vs. Second Quarter 2024Year-to-Date 2025 vs. Year-to-Date 2024(change in millions)(% change)(change in millions)(% change)$2369.7$3244.4

In the second quarter 2025, allowance for equity funds used during construction was $56 million compared to $33 million for the corresponding period in 2024. For year-to-date 2025, allowance for equity funds used during construction was $104 million compared to $72 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

Second Quarter 2025 vs. Second Quarter 2024Year-to-Date 2025 vs. Year-to-Date 2024(change in millions)(% change)(change in millions)(% change)$137.0$267.2

In the second quarter 2025, interest expense, net of amounts capitalized was $198 million compared to $185 million for the corresponding period in 2024. For year-to-date 2025, interest expense, net of amounts capitalized was $385 

113

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

million compared to $359 million for the corresponding period in 2024. The increases for the second quarter and year-to-date 2025 were primarily associated with increases of approximately $13 million and $23 million, respectively, related to higher average outstanding borrowings and decreases of $3 million and $12 million, respectively, in net deferred financing costs related to Plant Vogtle Unit 3, partially offset by decreases of approximately $2 million and $4 million, respectively,