Company: SOJE
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000092122-25-000042
Chunk: 119

Company: SOUTHERN CO
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 1
Chunk 119
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•an increase of $1.2 billion in total property, plant, and equipment primarily related to the construction of generation, transmission, and distribution facilities, including costs associated with Plant Yates Units 8, 9, and 10;

•an increase of $745 million in common stockholder's equity primarily due to capital contributions from Southern Company and net income, partially offset by dividends paid to Southern Company;

•a decrease of $582 million in accounts payable primarily related to storm restoration costs;

•a decrease of $376 million in accrued taxes primarily due to payments for municipal franchise fees and property taxes; and

•an increase of $286 million in cash and cash equivalents, as discussed further under "Analysis of Cash Flows – Georgia Power" herein.

See "Financing Activities – Georgia Power" and Note (B) to the Condensed Financial Statements under "Georgia Power – Other Construction" herein for additional information.

Mississippi Power

Significant balance sheet changes for the three months ended March 31, 2025 included:

•an increase of $99 million in long-term debt (including securities due within one year) primarily due to issuances of senior notes;

•a decrease of $65 million in accrued taxes is primarily due to the payment of ad valorem taxes;

•an increase of $57 million in common stockholder's equity related to net income and capital contributions from Southern Company, partially offset by dividends paid to Southern Company; and

•an increase of $50 million in other deferred credits and liabilities primarily due to contributions in aid of construction.

See "Financing Activities – Mississippi Power" herein for additional information.

Southern Power

Significant balance sheet changes for the three months ended March 31, 2025 included:

•an increase of $67 million in total stockholders' equity primarily due to capital contributions from Southern Company and net income, partially offset by dividends paid to Southern Company and net distributions to noncontrolling interests and

•an increase of $37 million in total property, plant, and equipment due to an increase in CWIP primarily related to the continued construction of the Millers Branch solar facility and the Kay Wind repowering project, partially offset by the continued depreciation of assets.

See Note (K) to the Condensed Financial Statements under "Southern Power" herein for additional information.

Southern Company Gas

Significant balance sheet changes for the three months ended March 31, 2025 included:

•a decrease of $239 million in natural gas for sale due to higher volumes of natural gas sold;