Company: SOJE
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000092122-25-000042
Chunk: 259

Company: SOUTHERN CO
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 2
Chunk 259
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 Unit 4 being placed in service in April 2024 at Georgia Power, $33 million in certain employee compensation and benefit expenses, $23 million in technology infrastructure and application production costs, and $12 million in expenses passed through to customers primarily related to bad debt and energy efficiency programs at Southern Company Gas. See Note 2 to the financial statements under "Georgia Power – Nuclear Construction" in Item 8 of the Form 10-K for additional information.

Depreciation and Amortization

First Quarter 2025 vs. First Quarter 2024(change in millions)(% change)$14112.3

In the first quarter 2025, depreciation and amortization was $1.3 billion compared to $1.1 billion for the corresponding period in 2024. The increase was primarily due to increases of $78 million associated with additional plant in service, $31 million in amortization of regulatory assets related to CCR AROs at Georgia Power as approved in the 2025 compliance filing under the terms of the 2022 ARP, and $27 million in accelerated depreciation related to the repowering of the Kay Wind facility at Southern Power. See Note (K) to the Condensed Financial Statements under "Southern Power – Wind Repowering Projects" herein and Notes 2 and 15 to the financial statements under "Georgia Power" and "Southern Power – Development Projects," respectively, in Item 8 of the Form 10-K for additional information.

Taxes Other Than Income Taxes

First Quarter 2025 vs. First Quarter 2024(change in millions)(% change)$4912.4

In the first quarter 2025, taxes other than income taxes were $445 million compared to $396 million for the corresponding period in 2024. The increase was primarily due to increases of $19 million in property taxes primarily resulting from an increase in the assessed value of property as well as a decrease in the capitalized portion of property taxes at Georgia Power primarily due to Plant Vogtle Unit 4 being placed in service in April 2024, $11 million in municipal franchise fees resulting from higher retail revenues at Georgia Power, $10 million in revenue taxes as a result of higher natural gas revenues at Nicor Gas, and $5 million in utility license taxes at Alabama 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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