Company: SOJE
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000092122-25-000042
Chunk: 118

Company: SOUTHERN CO
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 1
Chunk 118
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 months ended March 31, 2025 included:

•an increase of $4.6 billion in long-term debt (including securities due within one year) primarily related to issuances of junior subordinated notes and senior notes;

•an increase of $1.6 billion in total property, plant, and equipment primarily related to the Subsidiary Registrants' construction programs;

•an increase of $1.3 billion in cash and cash equivalents, as discussed further under "Analysis of Cash Flows – Southern Company" herein;

•a decrease of $0.8 billion in notes payable primarily due to a reduction in commercial paper borrowings;

•a decrease of $0.6 billion in accounts payable primarily related to the timing of vendor payments;

•a decrease of $0.6 billion in accrued compensation due to the timing of payments;

•an increase of $0.5 billion in total stockholders' equity primarily related to net income, partially offset by common stock dividend payments; and

•an increase of $0.5 billion in accumulated deferred income taxes primarily related to property-related timing differences and projected monetization of tax credits in 2025.

See "Financing Activities" herein for additional information.

Alabama Power

Significant balance sheet changes for the three months ended March 31, 2025 included:

•an increase of $597 million in common stockholder's equity primarily due to capital contributions from Southern Company and net income, partially offset by dividends paid to Southern Company;

•an increase of $500 million in long-term debt (including securities due within one year) primarily due to an issuance of senior notes;

•an increase of $354 million in cash and cash equivalents, as discussed further under "Analysis of Cash Flows – Alabama Power" herein;

•an increase of $200 million in total property, plant, and equipment primarily related to the construction of transmission and distribution facilities; and

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

•a decrease of $174 million in other accounts payable primarily due to the timing of vendor payments.

See "Financing Activities – Alabama Power" herein for additional information.

Georgia Power

Significant balance sheet changes for the three months ended March 31, 2025 included:

•an increase of $1.6 billion in long-term debt (including securities due within one year) primarily due to issuances of senior notes