Company: SOJE
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000092122-25-000084
Chunk: 424

Company: SOUTHERN CO
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 2
Chunk 424
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. The increase was primarily due to an increase of $14 million in revenue taxes as a result of higher natural gas revenues at Nicor Gas. Revenue taxes imposed on Nicor Gas are recoverable from its customers.

Earnings from Equity Method Investments

Third Quarter 2025 vs. Third Quarter 2024Year-to-Date 2025 vs. Year-to-Date 2024(change in millions)(% change)(change in millions)(% change)$(3)(8.8)$(17)(15.5)

In the third quarter 2025, earnings from equity method investments were $31 million compared to $34 million for the corresponding period in 2024. For year-to-date 2025, earnings from equity method investments were $93 million compared to $110 million for the corresponding period in 2024. The decreases were primarily due to lower rates at SNG. See Note 7 to the financial statements under "Southern Company Gas" in Item 8 of the Form 10-K and Note (E) to the Condensed Financial Statements under "Southern Company Gas" herein for additional information.

Interest Expense, Net of Amounts Capitalized 

Third Quarter 2025 vs. Third Quarter 2024Year-to-Date 2025 vs. Year-to-Date 2024(change in millions)(% change)(change in millions)(% change)$1011.9$2710.8

In the third quarter 2025, interest expense, net of amounts capitalized was $94 million compared to $84 million for the corresponding period in 2024. For year-to-date 2025, interest expense, net of amounts capitalized was $277 million compared to $250 million for the corresponding period in 2024. The increases were primarily associated with higher average outstanding borrowings. See FINANCIAL CONDITION AND LIQUIDITY – "Sources of Capital" and "Financing Activities" herein for additional information on borrowings.

Income Taxes

Third Quarter 2025 vs. Third Quarter 2024Year-to-Date 2025 vs. Year-to-Date 2024(change in millions)(% change)(change in millions)(% change)$(5)(45.5)$(15)(8.2)

In the third quarter 2025, income taxes were $6 million compared to $11 million for the corresponding period in 2024. The decrease was primarily due