Company: SOJE
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000092122-25-000042
Chunk: 22

Company: SOUTHERN CO
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 1
Chunk 22
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$6,682 Net income (loss)— 87 — 87 (64)23 Capital contributions from parent company130 — — 130 — 130 Other comprehensive income— — 2 2 — 2 Cash dividends on common stock— (70)— (70)— (70)Capital contributions from   noncontrolling interests— — — — 19 19 Distributions to noncontrolling interests— — — — (37)(37)Balance at March 31, 2025$1,436 $1,929 $— $3,365 $3,384 $6,749 

The accompanying notes as they relate to Southern Power are an integral part of these condensed consolidated financial statements.

35

    Table of Contents                                Index to Financial Statements

SOUTHERN COMPANY GAS AND SUBSIDIARY COMPANIES

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)

 For the Three Months Ended March 31, 20252024 (in millions)Operating Revenues:Natural gas revenues (includes revenue taxes of $63 and $53, respectively)$1,839 $1,707 Total operating revenues1,839 1,707 Operating Expenses:Cost of natural gas674 605 Other operations and maintenance316 293 Depreciation and amortization169 155 Taxes other than income taxes97 87 Total operating expenses1,256 1,140 Operating Income583 567 Other Income and (Expense):Earnings from equity method investments39 44 Interest expense, net of amounts capitalized(92)(84)Other income (expense), net18 20 Total other income and (expense)(35)(20)Earnings Before Income Taxes548 547 Income taxes130 138 Net Income$418 $409 

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED)

 For the Three Months Ended March 31, 20252024 (in millions)Net Income$418 $409 Other comprehensive income:Qualifying hedges:Changes in fair value, net of tax of $5 and $(2), respectively11 (5)Reclassification adjustment for amounts included in net income,    net of tax of $— and $7, respectively1 17 Total other