Company: SOJE
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000092122-25-000042
Chunk: 273

Company: SOUTHERN CO
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 2
Chunk 273
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 vs. First Quarter 2024(change in millions)(% change)$(4)(4.5)

In the first quarter 2025, other operations and maintenance expenses were $84 million compared to $88 million for the corresponding period in 2024. The decrease was primarily due to a decrease in generation expenses associated with planned outages.

Depreciation and Amortization

First Quarter 2025 vs. First Quarter 2024(change in millions)(% change)$510.6

In the first quarter 2025, depreciation and amortization was $52 million compared to $47 million for the corresponding period in 2024. The increase was primarily due to additional plant in service and an increase in depreciation rates. See Note (A) to the Condensed Financial Statements under "Depreciation and Amortization" herein for additional information.

Other Income (Expense), Net

First Quarter 2025 vs. First Quarter 2024(change in millions)(% change)$(8)(57.1)

In the first quarter 2025, other income (expense), net was $6 million compared to $14 million for the corresponding period in 2024. The decrease was primarily due to customer charges related to contributions in aid of construction.

Income Taxes

First Quarter 2025 vs. First Quarter 2024(change in millions)(% change)$660.0

In the first quarter 2025, income taxes were $16 million compared to $10 million for the corresponding period in 2024. The increase was primarily due to higher pre-tax earnings and a decrease of $3 million in the flowback of certain excess deferred income taxes. See Note (G) to the Condensed Financial Statements herein for additional information.

Southern Power

Net Income Attributable to Southern Power

First Quarter 2025 vs. First Quarter 2024(change in millions)(% change)$(9)(9.4)

Net income attributable to Southern Power in the first quarter 2025 was $87 million compared to $96 million for the corresponding period in 2024. The decrease was primarily due to accelerated depreciation related to the repowering of the Kay Wind facility, largely offset by higher revenues driven by higher market prices and increased demand for energy related to weather impacts. See Note (K) to the Condensed Financial Statements under "Southern Power – 

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