Company: SOJE
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000092122-25-000084
Chunk: 120

Company: SOUTHERN CO
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 1
Chunk 120
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 used during construction was $243 million compared to $167 million for the corresponding period in 2024. The increases were primarily associated with increases in capital expenditures subject to AFUDC at Georgia Power and Alabama Power. Partially offsetting the year-to-date 2025 increase was the impact of Plant Vogtle Unit 4 being placed in service in April 2024 at Georgia Power. See Note 2 to the financial statements under "Georgia Power – Nuclear Construction" in Item 8 of the Form 10-K for additional information on Plant Vogtle Unit 4.

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    Table of Contents                                Index to Financial StatementsMANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITIONAND RESULTS OF OPERATIONS (Continued)

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)$26.5$(31)(29.0)

For year-to-date 2025, earnings from equity method investments were $76 million compared to $107 million for the corresponding period in 2024. The decrease was primarily due to a decrease of $17 million at Southern Company Gas related to lower rates at SNG and a decrease of $16 million at Southern Holdings related to investment losses. See Note 7 to the financial statements in Item 8 of the Form 10-K and Note (E) to the Condensed Financial Statements under "Southern Company" and "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)$639.1$29314.3

In the third quarter 2025, interest expense, net of amounts capitalized was $755 million compared to $692 million for the corresponding period in 2024. The increase was primarily due to increases of approximately $67 million related to higher average outstanding borrowings and $9 million related to higher interest rates, partially offset by an increase of $12 million in capitalized interest and AFUDC debt associated with increased capital expenditures.

For year-to-date 2025, interest expense, net of amounts capitalized was $2.34 billion compared to