Company: SOJE
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000092122-25-000042
Chunk: 46

Company: SOUTHERN CO
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 1
Chunk 46
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 were sold subsequent to March 31, 2025. The initial forward price was determined after the completion of sales by the forward seller in April 2025.As of March 31, 2025, Southern Company had entered into separate forward sale contracts with forward purchasers for a total of 10,000,000 shares of common stock, of which 9,314,609 shares had been sold by the forward sellers, and no shares had been settled under the forward sale contracts.In April 2025, Southern Company entered into another separate forward sale contract with a forward purchaser for the sale of 1,255,000 shares of its common stock with an initial forward price of $91.0566 per share, to be settled on or before June 30, 2026.Each initial forward price is subject to adjustment under certain circumstances as specified in the forward sales contract. Southern Company may settle these forward transactions in shares, cash, or net shares.

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

Earnings per ShareFor Southern Company, the only difference in computing basic and diluted earnings per share (EPS) is attributable to awards outstanding under stock-based compensation plans, forward sale contracts pursuant to the equity distribution agreement, and convertible senior notes. EPS dilution resulting from stock-based compensation plans and the forward sale contracts is determined using the treasury stock method, and EPS dilution resulting from the convertible senior notes is determined using the net share settlement method. See "Equity Distribution Agreement" herein and Note 8 to the financial statements under "Convertible Senior Notes" and "Equity Distribution Agreement" and Note 12 to the financial statements in Item 8 of the Form 10-K for additional information. Shares used to compute diluted EPS were as follows:Three Months EndedMarch 31,20252024(in millions)As reported shares1,100 1,094 Effect of stock-based compensation5 6 Diluted shares1,105 1,100 For all periods presented, an immaterial number of stock-based compensation awards was excluded from the diluted EPS calculation because the awards were anti-dilutive.For the three months ended March 31, 2025, dilution resulting from convertible senior notes and forward sale contracts was immaterial.

(G) INCOME TAXES

See Note 10 to the financial statements in Item 8 of the Form 10-K for additional tax information