Company: SOJE
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000092122-25-000076
Chunk: 54

Company: SOUTHERN CO
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 1
Chunk 54
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 The revenue recognized for the delivery of electricity is variable; however, certain PPAs include a fixed payment for fixed generation capacity over the term of the contract. Southern Company's unregulated distributed generation business also has partially satisfied performance obligations related 

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

to certain fixed price contracts. Revenues from contracts with customers related to these performance obligations remaining at June 30, 2025 are expected to be recognized as follows:2025 (remaining)2026202720282029Thereafter(in millions)Southern Company$548 $535 $405 $343 $309 $2,636 Alabama Power49 6 4 1 — — Georgia Power37 43 18 15 2 27 Mississippi Power(*)31 66 69 73 — — Southern Power(*)183 331 340 316 312 2,609 (*)Includes performance obligations related to affiliate PPAs with Georgia Power. See Note 1 to the financial statements under "Affiliate Transactions" in Item 8 of the Form 10-K for additional information.

Lease IncomeLease income for the three and six months ended June 30, 2025 and 2024 was as follows:SouthernCompanyAlabama PowerGeorgia PowerMississippiPowerSouthern PowerSouthern Company Gas (in millions)Three Months Ended June 30, 2025Lease income - interest income on sales-type leases$6 $— $— $4 $2 $— Lease income - operating leases33 2 7 1 37 9 Variable lease income125 — — — 136 — Total lease income$164 $2 $7 $5 $175 $9 Six Months Ended June 30, 2025Lease income - interest income on sales-type leases$11 $— $— $7 $4 $— Lease income - operating leases66 3 14 1 73 18 Variable lease income207 1 — — 225 — Total lease income$284 $4 $14 $8 $302 $18 Three Months Ended June 30, 2024Lease income - interest income on sales-type leases$7 $