Company: SOJE
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000092122-25-000042
Chunk: 38

Company: SOUTHERN CO
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 1
Chunk 38
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 1,411 Wholesale electric revenuesPPA energy revenues272 57 18 1 202 — PPA capacity revenues153 24 32 16 97 — Non-PPA revenues58 41 — 93 58 — Total wholesale electric revenues483 122 50 110 357 — Other natural gas revenuesGas marketing services233 — — — — 233 Other5 — — — — 5 Total other natural gas revenues238 — — — — 238 Other revenues326 52 151 11 12 — Total revenue from contracts with customers6,682 1,820 2,557 343 369 1,649 Other revenue sources(*)(36)(29)(159)(1)104 58 Total operating revenues$6,646 $1,791 $2,398 $342 $473 $1,707 (*)Other revenue sources relate to revenues from customers accounted for as derivatives and leases, alternative revenue programs at Southern Company Gas, and cost recovery mechanisms and revenues (including those related to fuel costs) that meet other scope exceptions for revenues from contracts with customers at the traditional electric operating companies.

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

Contract BalancesThe following table reflects the closing balances of receivables, contract assets, and contract liabilities related to revenues from contracts with customers at March 31, 2025 and December 31, 2024:Southern CompanyAlabama PowerGeorgia PowerMississippi PowerSouthern PowerSouthern Company Gas(in millions)Accounts ReceivableAt March 31, 2025$3,006 $694 $1,200 $124 $106 $771 At December 31, 20243,048 783 1,244 113 106 660 Contract AssetsAt March 31, 2025$397 $4 $231 $— $— $73 At December 31, 2024323 3 184 — — 72 Contract LiabilitiesAt March 31, 2025$190 $9 $71 $1 $1 $— At December 31, 2024140 11 34 —