Company: SOJE
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000092122-25-000084
Chunk: 414

Company: SOUTHERN CO
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 2
Chunk 414
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YSIS OF FINANCIAL CONDITIONAND RESULTS OF OPERATIONS (Continued)

Other Income (Expense), Net

Third Quarter 2025 vs. Third Quarter 2024Year-to-Date 2025 vs. Year-to-Date 2024(change in millions)(% change)(change in millions)(% change)$111.1$(7)(21.2)

For year-to-date 2025, other income (expense), net was $26 million compared to $33 million for the corresponding period in 2024. The decrease was primarily due to lower customer charges related to contributions in aid of construction.

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)$29.1$1123.4

For year-to-date 2025, income taxes were $58 million compared to $47 million for the corresponding period in 2024. The increase was primarily due to higher pre-tax earnings and a decrease of $5 million primarily due to the flowback of certain excess deferred income taxes that ended in 2024.

See Note (G) to the Condensed Financial Statements herein for additional information.

Southern Power

Net Income Attributable to Southern Power

Third Quarter 2025 vs. Third Quarter 2024Year-to-Date 2025 vs. Year-to-Date 2024(change in millions)(% change)(change in millions)(% change)$(79)(96.3)$(123)(46.6)

Net income attributable to Southern Power in the third quarter 2025 was $3 million compared to $82 million for the corresponding period in 2024. The decrease was primarily due to accelerated depreciation related to wind repowering projects.

Net income attributable to Southern Power for year-to-date 2025 was $141 million compared to $264 million for the corresponding period in 2024. The decrease was primarily due to accelerated depreciation related to wind repowering projects and an increase in other operations and maintenance expenses due to increases in scheduled outage expenses and generation maintenance, partially offset by higher revenues driven by higher market prices of energy and higher HLBV income associated with tax equity partnerships.

See Note (K) to the Condensed Financial Statements under "Southern Power – Wind Repowering Projects" herein and Note 15 to the