Company: SOJE
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000092122-25-000084
Chunk: 178

Company: SOUTHERN CO
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 1
Chunk 178
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ANCIAL CONDITIONAND RESULTS OF OPERATIONS (Continued)

•an increase of $111 million in common stockholder's equity related to net income and capital contributions from Southern Company, partially offset by dividends paid to Southern Company;

•an increase of $88 million in long-term debt (including securities due within one year) primarily due to issuances of senior notes;

•a decrease of $46 million in other cost of removal obligations primarily due to an increase in expenditures related to transmission and other production assets; and

•an increase of $45 million in other deferred credits and liabilities primarily due to contributions in aid of construction.

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

Southern Power

Significant balance sheet changes for the nine months ended September 30, 2025 included:

•an increase of $1.2 billion in long-term debt (including securities due within one year) primarily due to issuances of senior notes;

•an increase of $888 million in cash and cash equivalents, as reflected in the statements of cash flows and discussed further under "Analysis of Cash Flows – Southern Power" herein;

•an increase of $143 million in total property, plant, and equipment due to an increase in CWIP primarily related to the continued construction of the Millers Branch solar facility and the wind repowering projects, partially offset by the continued depreciation of assets;

•a decrease of $122 million in accumulated deferred income taxes primarily related to a change in the utilization of ITCs; and

•a decrease of $105 million in total stockholders' equity primarily due to dividends paid to Southern Company and net distributions to noncontrolling interests, partially offset by capital contributions from Southern Company and net income.

See "Financing Activities – Southern Power" herein and Note (K) to the Condensed Financial Statements under "Southern Power" herein for additional information.

Southern Company Gas

Significant balance sheet changes for the nine months ended September 30, 2025 included:

•an increase of $821 million in total property, plant, and equipment primarily related to the construction of transportation and distribution assets;

•an increase of $799 million in long-term debt (including securities due within one year) primarily due to issuances of senior notes;

•a decrease of $328 million in total accounts receivable primarily related to seasonality;

•a decrease of $311 million in notes payable due to a reduction in commercial paper borrowings;

•an increase of $303 million in cash and cash equivalents, as reflected in the statements