SOUTHERN CO

For the period ended Mar 31, 2025. Filed May 1, 2025.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2025 · Filed May 1, 2025

SO$93.65+0.1%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits

Contents

Condensed Consolidated Statements of Income

	For the Three Months Ended March 31,
	2025	2024
(in millions)
Operating Revenues:
Natural gas revenues (includes revenue taxes of $63 and $53, respectively)	$1,839	$1,707
Total operating revenues	1,839	1,707
Operating Expenses:
Cost of natural gas	674	605
Other operations and maintenance	316	293
Depreciation and amortization	169	155
Taxes other than income taxes	97	87
Total operating expenses	1,256	1,140
Operating Income	583	567
Other Income and (Expense):
Earnings from equity method investments	39	44
Interest expense, net of amounts capitalized	(92)	(84)
Other income (expense), net	18	20
Total other income and (expense)	(35)	(20)
Earnings Before Income Taxes	548	547
Income taxes	130	138
Net Income	$418	$409

	For the Three Months Ended March 31,
	2025	2024
(in millions)
Net Income	$418	$409
Other comprehensive income:
Qualifying hedges:
Changes in fair value, net of tax of $5 and $(2), respectively	11	(5)
Reclassification adjustment for amounts included in net income, net of tax of $— and $7, respectively	1	17
Total other comprehensive income	12	12
Comprehensive Income	$430	$421

	For the Three Months Ended March 31,
	2025	2024
(in millions)
Operating Activities:
Net income	$418	$409
Adjustments to reconcile net income to net cash provided from operating activities —
Depreciation and amortization, total	167	155
Deferred income taxes	42	61
Other, net	(5)	(10)
Changes in certain current assets and liabilities —
-Receivables	(115)	(16)
-Natural gas for sale, net of temporary LIFO liquidation	365	237
-Other current assets	74	26
-Accounts payable	(95)	(127)
-Accrued taxes	73	7
-Accrued compensation	(60)	(55)
-Natural gas cost over recovery	(179)	(65)
-Other current liabilities	2	(24)
Net cash provided from operating activities	687	598
Investing Activities:
Property additions	(281)	(255)
Cost of removal, net of salvage	(16)	(12)
Change in construction payables, net	(6)	(40)
Other investing activities	(18)	(12)
Net cash used for investing activities	(321)	(319)
Financing Activities:
Decrease in notes payable, net	(141)	(81)
Return of capital to parent company	(23)	—
Payment of common stock dividends	(149)	(151)
Other financing activities	(10)	(3)
Net cash used for financing activities	(323)	(235)
Net Change in Cash, Cash Equivalents, and Restricted Cash	43	44
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period	44	35
Cash, Cash Equivalents, and Restricted Cash at End of Period	$87	$79
Supplemental Cash Flow Information:
Cash paid (received) during the period for —
Interest (net of $5 and $5 capitalized for 2025 and 2024, respectively)	$111	$89
Income taxes, net	(1)	(3)
Noncash transactions —
Accrued property additions at end of period	104	99
Right-of-use assets obtained under operating leases	60	1
Return of capital to parent company	33	—

Assets	At March 31, 2025	At December 31, 2024
(in millions)
Current Assets:
Cash and cash equivalents	$87	$43
Receivables —
Customer accounts	564	399
Unbilled revenues	193	244
Other accounts and notes	42	45
Accumulated provision for uncollectible accounts	(46)	(33)
Materials and supplies	64	66
Natural gas for sale	149	388
Prepaid expenses	42	45
Other regulatory assets	136	187
Other current assets	49	55
Total current assets	1,280	1,439
Property, Plant, and Equipment:
In service	22,642	22,338
Less: Accumulated depreciation	5,996	5,887
Plant in service, net of depreciation	16,646	16,451
Construction work in progress	1,029	1,057
Total property, plant, and equipment	17,675	17,508
Other Property and Investments:
Goodwill	5,015	5,015
Equity investments in unconsolidated subsidiaries	1,312	1,279
Other intangible assets, net of amortization of $175 and $173, respectively	7	9
Miscellaneous property and investments	25	25
Total other property and investments	6,359	6,328
Deferred Charges and Other Assets:
Operating lease right-of-use assets, net of amortization	95	38
Prepaid pension costs	196	191
Other regulatory assets, deferred	485	481
Other deferred charges and assets	144	192
Total deferred charges and other assets	920	902
Total Assets	$26,234	$26,177

Liabilities and Stockholder's Equity	At March 31, 2025	At December 31, 2024
(in millions)
Current Liabilities:
Securities due within one year	$301	$302
Notes payable	314	455
Accounts payable —
Affiliated	49	75
Other	372	437
Customer deposits	67	98
Accrued taxes	147	85
Accrued interest	74	88
Accrued compensation	70	129
Temporary LIFO liquidation	126	—
Natural gas cost over recovery	16	193
Other regulatory liabilities	67	7
Other current liabilities	127	149
Total current liabilities	1,730	2,018
Long-term Debt	8,236	8,229
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes	1,849	1,796
Deferred credits related to income taxes	743	755
Employee benefit obligations	73	78
Operating lease obligations	87	30
Other cost of removal obligations	1,875	1,846
Accrued environmental remediation	193	198
Other deferred credits and liabilities	223	231
Total deferred credits and other liabilities	5,043	4,934
Total Liabilities	15,009	15,181
Common Stockholder's Equity (See accompanying statements)	11,225	10,996
Total Liabilities and Stockholder's Equity	$26,234	$26,177

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.