Company: SOJE
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000092122-25-000084
Chunk: 101

Company: SOUTHERN CO
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 1
Chunk 101
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 regarding ECO Plan and the MRA tariff.

Southern PowerSouthern Power's single reportable business segment is the sale of electricity in the competitive wholesale market. Southern Power's CODM utilizes segment expense information in the form of variances to budget to assess performance; therefore, Southern Power has no reportable significant segment expenses.Financial data for segment information for the three and nine months ended September 30, 2025 and 2024 was as follows:Three Months Ended September 30,Nine Months Ended September 30,2025202420252024(in millions)Operating revenues$613 $600 $1,726 $1,597 Other segment items(a)332 322 930 834 Depreciation and amortization(b)247 133 576 378 Interest expense25 30 76 89 Income taxes6 33 3 32 Segment net income(b)(c)$3 $82 $141 $264 

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    Table of Contents                                Index to Financial StatementsNOTES TO THE CONDENSED FINANCIAL STATEMENTS (Continued)(UNAUDITED)

(a)Primarily consists of fuel, purchased power, other operations and maintenance, taxes other than income taxes, and net income (loss) attributable to noncontrolling interests.(b)For the three and nine months ended September 30, 2025, includes accelerated depreciation of $112 million ($80 million after tax, net of noncontrolling interest impacts) and $181 million ($130 million after tax, net of noncontrolling interest impacts), respectively, related to the repowering of the Kay Wind, Grant Plains, Grant Wind, and Wake Wind facilities. See Note (K) 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.(c)Southern Power had no earnings from equity method investments for any period presented.

Southern Company GasSouthern Company Gas manages its business through three reportable segments – gas distribution operations, gas pipeline investments, and gas marketing services. The non-reportable segments are combined and presented as all other.The gas distribution operations segment is the largest component of Southern Company Gas' business and includes natural gas local distribution utilities that construct, manage, and maintain intrastate natural gas pipelines and gas distribution facilities in four states.The gas pipeline investments segment consists of joint ventures in natural gas pipeline