Company: SOJE
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000092122-25-000076
Chunk: 376

Company: SOUTHERN CO
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 2
Chunk 376
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 an increase in the assessed value of property and $3 million in municipal franchise fees resulting from higher retail revenues.

For year-to-date 2025, taxes other than income taxes were $342 million compared to $311 million for the corresponding period in 2024. The increase was primarily due to an increase of $14 million in municipal franchise fees resulting from higher retail revenues, an increase of $10 million in property taxes primarily resulting from an increase in the assessed value of property, and a decrease of $6 million in property taxes capitalized primarily due to Plant Vogtle Unit 4 being placed in service in April 2024. 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.

Allowance for Equity Funds Used During Construction

Second Quarter 2025 vs. Second Quarter 2024Year-to-Date 2025 vs. Year-to-Date 2024(change in millions)(% change)(change in millions)(% change)$2369.7$3244.4

In the second quarter 2025, allowance for equity funds used during construction was $56 million compared to $33 million for the corresponding period in 2024. For year-to-date 2025, allowance for equity funds used during construction was $104 million compared to $72 million for the corresponding period in 2024. The increases were primarily due to an increase in capital expenditures subject to AFUDC. Partially offsetting the increase for year-to-date 2025 was the impact of Plant Vogtle Unit 4 being placed in service in April 2024. 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.

Interest Expense, Net of Amounts Capitalized

Second Quarter 2025 vs. Second Quarter 2024Year-to-Date 2025 vs. Year-to-Date 2024(change in millions)(% change)(change in millions)(% change)$137.0$267.2

In the second quarter 2025, interest expense, net of amounts capitalized was $198 million compared to $185 million for the corresponding period in 2024. For year-to-date 2025, interest expense, net of amounts capitalized was $385 

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