Company: SOJE
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000092122-25-000084
Chunk: 153

Company: SOUTHERN CO
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 1
Chunk 153
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Earnings from Equity Method Investments

Third Quarter 2025 vs. Third Quarter 2024Year-to-Date 2025 vs. Year-to-Date 2024(change in millions)(% change)(change in millions)(% change)$(3)(8.8)$(17)(15.5)

In the third quarter 2025, earnings from equity method investments were $31 million compared to $34 million for the corresponding period in 2024. For year-to-date 2025, earnings from equity method investments were $93 million compared to $110 million for the corresponding period in 2024. The decreases were primarily due to lower rates at SNG. See Note 7 to the financial statements under "Southern Company Gas" in Item 8 of the Form 10-K and Note (E) to the Condensed Financial Statements under "Southern Company Gas" herein for additional information.

Interest Expense, Net of Amounts Capitalized 

Third Quarter 2025 vs. Third Quarter 2024Year-to-Date 2025 vs. Year-to-Date 2024(change in millions)(% change)(change in millions)(% change)$1011.9$2710.8

In the third quarter 2025, interest expense, net of amounts capitalized was $94 million compared to $84 million for the corresponding period in 2024. For year-to-date 2025, interest expense, net of amounts capitalized was $277 million compared to $250 million for the corresponding period in 2024. The increases were primarily associated with higher average outstanding borrowings. See FINANCIAL CONDITION AND LIQUIDITY – "Sources of Capital" and "Financing Activities" herein for additional information on borrowings.

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)$(5)(45.5)$(15)(8.2)

In the third quarter 2025, income taxes were $6 million compared to $11 million for the corresponding period in 2024. The decrease was primarily due to lower pre-tax earnings.

For year-to-date 2025, income taxes were $169 million compared to $184 million for the corresponding period in 2024. The decrease was primarily due to an