Company: SOJE
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000092122-25-000084
Chunk: 304

Company: SOUTHERN CO
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 8
Chunk 304
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 in accelerated depreciation related to wind repowering projects at Southern Power, and $31 million and $93 million, respectively, in amortization of regulatory assets related to CCR AROs at Georgia Power as approved in the 2025 compliance filing under the terms of the 2022 ARP. See Note (K) to the Condensed Financial Statements under "Southern Power – Wind Repowering Projects" herein and Notes 2 and 15 to the financial statements under "Georgia Power" and "Southern Power – Development Projects," respectively, in Item 8 of the Form 10-K for additional information.

Taxes Other Than 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)$(87)(23.2)$(19)(1.6)

In the third quarter 2025, taxes other than income taxes were $288 million compared to $375 million for the corresponding period in 2024. For year-to-date 2025, taxes other than income taxes were $1.14 billion compared to $1.16 billion for the corresponding period in 2024. The decreases in the third quarter and year-to-date 2025 were primarily due to decreases of $103 million and $80 million, respectively, in property taxes primarily resulting from the actualization of prior-year tax assessments at Georgia Power, partially offset by increases of $4 million and $19 million, respectively, in municipal franchise fees resulting from higher retail revenues at Georgia Power and $4 million and $13 million, respectively, in utility license taxes resulting from an increase in the tax base at Alabama Power. Also partially offsetting the year-to-date 2025 decrease were increases of $14 million in revenue taxes resulting from higher natural gas revenues at Nicor Gas and $8 million in payroll taxes.

Allowance for Equity Funds Used During Construction

Third Quarter 2025 vs. Third Quarter 2024Year-to-Date 2025 vs. Year-to-Date 2024(change in millions)(% change)(change in millions)(% change)$3255.2$7645.5

In the third quarter 2025, allowance for equity funds used during construction was $90 million compared to $58 million for the corresponding period in 2024. For year-to-date 2025, allowance for equity funds