Company: SOJE
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000092122-25-000076
Chunk: 383

Company: SOUTHERN CO
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 2
Chunk 383
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 for the corresponding period in 2024. For year-to-date 2025, taxes other than income taxes were $69 million compared to $63 million for the corresponding period in 2024. The increases were primarily due to increases in property taxes primarily resulting from an increase in the assessed value of property.

Other Income (Expense), Net

Second Quarter 2025 vs. Second Quarter 2024Year-to-Date 2025 vs. Year-to-Date 2024(change in millions)(% change)(change in millions)(% change)$(2)(18.2)$(9)(36.0)

For year-to-date 2025, other income (expense), net was $16 million compared to $25 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

Second Quarter 2025 vs. Second Quarter 2024Year-to-Date 2025 vs. Year-to-Date 2024(change in millions)(% change)(change in millions)(% change)$213.3$936.0

For year-to-date 2025, income taxes were $34 million compared to $25 million for the corresponding period in 2024. The increase was primarily due to a decrease of $6 million in the flowback of certain excess deferred income taxes and higher pre-tax earnings. See Note (G) to the Condensed Financial Statements herein for additional information.

Southern Power

Net Income Attributable to Southern Power

Second Quarter 2025 vs. Second Quarter 2024Year-to-Date 2025 vs. Year-to-Date 2024(change in millions)(% change)(change in millions)(% change)$(35)(40.7)$(44)(24.2)

Net income attributable to Southern Power in the second quarter 2025 was $51 million compared to $86 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 HLBV income associated with tax equity partnerships.

Net income attributable to Southern Power for year-to-date 2025 was $138 million compared to $182 million for the corresponding period in 2024. The decrease was primarily due to accelerated depreciation related to wind