Company: SOJE
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000092122-25-000084
Chunk: 442

Company: SOUTHERN CO
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 2
Chunk 442
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 make money pool loans to affiliates. At September 30, 2025, the amount of subsidiary retained earnings restricted to dividend totaled $1.8 billion. This restriction did not impact Southern Company Gas' ability to meet its cash obligations, nor does management expect such restriction to materially impact Southern Company Gas' ability to meet its currently anticipated cash obligations.

Certain Registrants' current liabilities frequently exceed their current assets because of long-term debt maturities and the periodic use of short-term debt as a funding source, as well as significant seasonal fluctuations in cash needs. The Registrants generally plan to refinance long-term debt as it matures. The following table shows the amount by which current liabilities exceeded current assets at September 30, 2025 for the applicable Registrants:

At September 30, 2025Southern CompanyGeorgiaPowerMississippi PowerSouthern PowerSouthern Company Gas(in millions)Current liabilities in excess of current assets$4,099 $696 $46 $447 $628 

The Registrants believe the need for working capital can be adequately met by utilizing operating cash flows, as well as commercial paper, lines of credit, and short-term bank notes, as market conditions permit. In addition, under certain circumstances, the Subsidiary Registrants may utilize equity contributions and/or loans from Southern Company.

Bank Credit Arrangements

At September 30, 2025, unused committed credit arrangements with banks were as follows:

At September 30, 2025SouthernCompanyparentAlabama   Power(a)Georgia   Power(b)Mississippi PowerSouthern   Power(c)Southern Company   Gas(d)SEGCOSouthernCompany(in millions)Unused committed credit$2,999 $1,365 $2,042 $275 $600 $1,598 $30 $8,909 

(a)Includes $15 million at Alabama Property Company, a wholly-owned subsidiary of Alabama Power. Alabama Power is not party to this arrangement.

(b)Georgia Power had $26 million of letters of credit outstanding under an uncommitted letter of credit facility at September 30, 2025.

(c)At September 30, 2025, Southern Power also had two continuing letters of credit facilities for standby letters of credit, of which $21 million was unused. In addition, Southern Power Company had $23 million of letters of credit outstanding under an uncommitted letter of credit facility at September 30, 2025. Southern Power's subsidiaries are not parties