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

Company: SOUTHERN CO
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 1
Chunk 25
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 accompanying notes as they relate to Southern Power are an integral part of these condensed consolidated financial statements.

33

    Table of Contents                                Index to Financial Statements

SOUTHERN POWER COMPANY AND SUBSIDIARY COMPANIES

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)

Liabilities and Stockholders' EquityAt June 30, 2025At December 31, 2024 (in millions)Current Liabilities:Securities due within one year$1,485 $500 Notes payable200 — Accounts payable —Affiliated78 80 Other74 100 Accrued taxes27 18 Accrued interest21 26 Operating lease obligations29 29 Other current liabilities74 96 Total current liabilities1,988 849 Long-term Debt1,262 2,180 Deferred Credits and Other Liabilities:Accumulated deferred income taxes711 712 Accumulated deferred ITCs1,412 1,440 Operating lease obligations, deferred511 511 Other deferred credits and liabilities241 279 Total deferred credits and other liabilities2,875 2,942 Total Liabilities6,125 5,971 Total Stockholders' Equity (See accompanying statements)6,692 6,682 Total Liabilities and Stockholders' Equity$12,817 $12,653 

The accompanying notes as they relate to Southern Power are an integral part of these condensed consolidated financial statements.

34

    Table of Contents                                Index to Financial Statements

SOUTHERN POWER COMPANY AND SUBSIDIARY COMPANIES

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (UNAUDITED)

Paid-InCapitalRetainedEarningsAccumulatedOtherComprehensiveIncome (Loss)Total CommonStockholder's EquityNoncontrolling InterestsTotal(in millions)Balance at December 31, 2023$1,088 $1,846 $(17)$2,917 $3,781 $6,698 Net income (loss)— 96 — 96 (58)38 Other comprehensive income— — 2 2 — 2 Cash dividends on common stock— (65)— (65)— (65)Capital contributions from   noncontrolling interests— — — — 9 9 Distributions to noncont