Company: SOJE
Filing Date: 2025-04-11
Form Type: DEF 14A
Source: 0000092122-25-000036
Chunk: 119

Company: SOUTHERN CO
Filing Date: 2025-04-11
Form: DEF 14A
Chunk 119
---
 |   |     — |      |     |   |     — |      |
| Tax Impact                                                                         |     |                         |     2 |      |     |   |     — |      |     |   |     — |      |
| Net Income – Excluding Items                                                       |     | $                       | 4,443 |      |     | $ | 3,982 |      |     | $ | 3,874 |      |
| Basic Earnings Per Share – Excluding Items                                         |     | $                       |  4.05 |      |     | $ |  3.65 |      |     | $ |  3.60 |      |

(1) Net income for the year ended December 31, 2024 includes a pre-tax credit to income of $21 million ($16 million after tax) related to the estimated probable loss on Plant Vogtle Units 3 and 4 reflecting a revision to Georgia Power's total project capital cost forecast resulting from a reduction in remaining expected site demobilization costs and other contractor obligations. Additionally, net income for the year ended December 31, 2024 includes a $14 million income tax charge related to the remeasuring of deferred tax assets associated with the previously recognized estimated probable loss on Plant Vogtle Units 3 and 4 due to a change in the State of Georgia corporate tax rate. Net income for the year ended December 31, 2023 includes a pre-tax net credit to income of $68 million ($50 million after tax) and for the year ended December 31, 2022 includes net pre-tax charges of $183 million ($137 million after tax) related to the estimated probable loss associated with construction of Plant Vogtle Units 3 and 4. Further charges and/or credits may occur; however, the amount and timing are uncertain. Net income for all periods presented also includes charges (net of salvage proceeds), associated legal expenses (net of insurance recoveries), and tax impacts related to Mississippi Power’s integrated coal gasification combined cycle facility project in Kemper County, Mississippi. Mississippi Power expects to incur additional pre-tax period costs related to dismantlement of the abandoned gasifier-related assets and site restoration activities, including related costs for compliance and safety, asset retirement obligation accretion, and property taxes, net of salvage, totaling approximately $15 million in 2025.

(2) Net income for the year ended December 31, 2023 includes a $35 million favorable tax impact related to