Company: SOJE
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000092122-25-000084
Chunk: 361

Company: SOUTHERN CO
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 8
Chunk 361
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 September 30, 2025 included:

•an increase of $8.7 billion in long-term debt (including securities due within one year) primarily due to issuances of senior notes and junior subordinated notes, partially offset by repayment of senior notes;

•an increase of $6.2 billion in total property, plant, and equipment primarily related to the Subsidiary Registrants' construction programs;

•an increase of $2.3 billion in cash and cash equivalents, as reflected in the statements of cash flows and discussed further under "Analysis of Cash Flows – Southern Company" herein;

•an increase of $1.6 billion in total stockholders' equity primarily related to net income, partially offset by common stock dividend payments;

•a decrease of $1.2 billion in notes payable primarily due to a reduction in commercial paper borrowings and repayment of short-term bank debt;

•a decrease of $684 million in accounts payable primarily related to the timing of vendor payments;

•an increase of $520 million in accumulated deferred income taxes primarily related to property-related timing differences;

•a decrease of $484 million in under recovered fuel clause revenues primarily due to increased fuel cost recovery at Georgia Power; and

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

•decreases of $480 million and $411 million in AROs and regulatory assets associated with AROs, respectively, primarily related to cost estimate updates at Alabama Power.

See "Financing Activities" and Note (A) to the Condensed Financial Statements under "Asset Retirement Obligations" herein and Note 2 to the financial statements under "Georgia Power – Fuel Cost Recovery" in Item 8 of the Form 10-K for additional information.

Alabama Power

Significant balance sheet changes for the nine months ended September 30, 2025 included:

•an increase of $1.2 billion in total property, plant, and equipment primarily related to the construction of transmission and distribution facilities and acquisition of the Lindsay Hill Generating Station;

•an increase of $1.0 billion in common stockholder's equity primarily due to net income and capital contributions from Southern Company, partially offset by dividends paid to Southern Company;

•an increase of $851 million in long-term debt (including securities due within one year) primarily due to net issuances of senior notes;

•decreases of $348 million