Company: SOJE
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000092122-25-000076
Chunk: 334

Company: SOUTHERN CO
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 8
Chunk 334
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, partially offset by common stock dividend payments and net distributions to noncontrolling interests.

137

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

Southern Company Gas

Net cash provided from operating activities decreased $60 million for the six months ended June 30, 2025 as compared to the corresponding period in 2024 primarily due to the timing of customer receivable collections.

The net cash used for investing activities for the six months ended June 30, 2025 was primarily related to construction of transportation and distribution assets recovered through base rates.

The net cash used for financing activities for the six months ended June 30, 2025 was primarily related to common stock dividend payments.

Significant Balance Sheet Changes

Southern Company

Significant balance sheet changes for the six months ended June 30, 2025 included:

•an increase of $4.9 billion in long-term debt (including securities due within one year) primarily related to issuances of senior notes and junior subordinated notes, partially offset by repayment of senior notes;

•an increase of $3.5 billion in total property, plant, and equipment primarily related to the Subsidiary Registrants' construction programs;

•a decrease of $753 million in accounts payable primarily related to the timing of vendor payments;

•an increase of $668 million in total stockholders' equity primarily related to net income, partially offset by common stock dividend payments;

•an increase of $564 million in accumulated deferred income taxes primarily related to property-related timing differences and monetization of tax credits in 2025;

•a decrease of $436 million in accrued compensation due to the timing of payments;

•decreases of $389 million and $307 million in AROs and regulatory assets associated with AROs, respectively, primarily related to cost estimate updates at Alabama Power; and

•a decrease of $350 million in notes payable primarily due to repayment of short-term bank debt and a reduction in commercial paper borrowings.

See "Financing Activities" and Note (A) to the Condensed Financial Statements under "Asset Retirement Obligations" herein for additional information.

Alabama Power

Significant balance sheet changes for the six months ended June 30, 2025 included:

•an increase of $712 million in common stockholder's equity primarily due to net income and capital contributions from Southern Company, partially offset by dividends paid to Southern Company