Company: SOJE
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000092122-25-000084
Chunk: 419

Company: SOUTHERN CO
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 2
Chunk 419
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 under "Southern Power – Wind Repowering Projects" herein and Note 15 to the financial statements under "Southern Power – Development Projects" in Item 8 of the Form 10-K for additional information.

Interest Expense, Net of Amount Capitalized

Third Quarter 2025 vs. Third Quarter 2024Year-to-Date 2025 vs. Year-to-Date 2024(change in millions)(% change)(change in millions)(% change)$(5)(16.7)$(13)(14.6)

For year-to-date 2025, interest expense, net of amount capitalized was $76 million compared to $89 million for the corresponding period in 2024. The decrease was primarily due to an increase in capitalized interest associated with construction and wind repowering projects.

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)$(27)(81.8)$(29)(90.6)

In the third quarter 2025, income taxes were $6 million compared to $33 million for the corresponding period in 2024. For year-to-date 2025, income taxes were $3 million compared to $32 million for the corresponding period in 2024. The decreases were primarily due to a change in pre-tax earnings attributable to Southern Power, including the impact of accelerated depreciation related to wind repowering projects. See Note (G) to the Condensed Financial Statements and Note (K) to the Condensed Financial Statements under "Southern Power – Wind Repowering Projects" herein for additional information.

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

Net Loss Attributable to Noncontrolling Interests

Third Quarter 2025 vs. Third Quarter 2024Year-to-Date 2025 vs. Year-to-Date 2024(change in millions)(% change)(change in millions)(% change)$(4)N/M$(22)(30.1)

For year-to-date 2025, net loss attributable to noncontrolling interests was $95 million compared to $73 million for the corresponding period in 2024. The increase was primarily due to $14