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Midas Edge

SOUTHERN CO

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

View on SEC.gov

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

Mississippi Power Company:

For the Three Months Ended March 31,
20252024
(in millions)
Operating Revenues:
Retail revenues$248$221
Wholesale revenues, non-affiliates7159
Wholesale revenues, affiliates8151
Other revenues2011
Total operating revenues420342
Operating Expenses:
Fuel and purchased power166111
Other operations and maintenance8488
Depreciation and amortization5247
Taxes other than income taxes3331
Total operating expenses335277
Operating Income8565
Other Income and (Expense):
Interest expense, net of amounts capitalized(20)(19)
Other income (expense), net614
Total other income and (expense)(14)(5)
Earnings Before Income Taxes7160
Income taxes1610
Net Income$55$50
For the Three Months Ended March 31,
20252024
(in millions)
Net Income$55$50
Other comprehensive income:
Qualifying hedges:
Changes in fair value, net of tax of $— and $2, respectively—5
Total other comprehensive income—5
Comprehensive Income$55$55
For the Three Months Ended March 31,
20252024
(in millions)
Operating Activities:
Net income$55$50
Adjustments to reconcile net income to net cash provided from operating activities —
Depreciation and amortization, total5650
Deferred income taxes(7)(3)
Pension, postretirement, and other employee benefits(5)(4)
Settlement of asset retirement obligations(4)(4)
Other, net77
Changes in certain current assets and liabilities —
-Receivables(16)21
-Retail fuel cost under recovery(13)3
-Fossil fuel stock13(13)
-Other current assets10—
-Accounts payable(4)(34)
-Accrued taxes(64)(59)
-Accrued compensation(23)(21)
-Other current liabilities(16)—
Net cash used for operating activities(11)(7)
Investing Activities:
Property additions(72)(80)
Contributions in aid of construction571
Cost of removal, net of salvage(8)(12)
Change in construction payables, net of joint owner portion(14)(7)
Payments pursuant to LTSAs(6)(5)
Other investing activities(1)(1)
Net cash used for investing activities(44)(104)
Financing Activities:
Increase (decrease) in notes payable, net(14)8
Proceeds — Senior notes100150
Capital contributions from parent company50—
Payment of common stock dividends(48)(47)
Other financing activities(1)—
Net cash provided from financing activities87111
Net Change in Cash, Cash Equivalents, and Restricted Cash32—
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period1338
Cash, Cash Equivalents, and Restricted Cash at End of Period$45$38
Supplemental Cash Flow Information:
Cash paid during the period for —
Interest$30$29
Noncash transactions —
Accrued property additions at end of period2227
AssetsAt March 31, 2025At December 31, 2024
(in millions)
Current Assets:
Cash and cash equivalents$45$13
Receivables —
Customer accounts, net6045
Unbilled revenues3539
Affiliated4733
Other accounts and notes2824
Fossil fuel stock4356
Materials and supplies103103
Other regulatory assets3543
Other current assets3428
Total current assets430384
Property, Plant, and Equipment:
In service5,7655,697
Less: Accumulated provision for depreciation1,8711,833
Plant in service, net of depreciation3,8943,864
Construction work in progress251253
Total property, plant, and equipment4,1454,117
Other Property and Investments150152
Deferred Charges and Other Assets:
Deferred charges related to income taxes2727
Prepaid pension costs129124
Deferred under recovered retail fuel clause revenues—32
Regulatory assets – asset retirement obligations243243
Other regulatory assets, deferred265259
Accumulated deferred income taxes7882
Other deferred charges and assets7974
Total deferred charges and other assets821841
Total Assets$5,546$5,494
Liabilities and Stockholder's EquityAt March 31, 2025At December 31, 2024
(in millions)
Current Liabilities:
Securities due within one year$12$12
Notes payable—14
Accounts payable —
Affiliated6268
Other9483
Customer deposits2020
Accrued taxes50115
Accrued compensation2446
Asset retirement obligations2932
Over recovered retail fuel clause revenues—32
Other regulatory liabilities385
Other current liabilities4875
Total current liabilities377502
Long-term Debt1,7801,681
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes484492
Deferred credits related to income taxes216219
Employee benefit obligations6465
Asset retirement obligations, deferred117116
Other cost of removal obligations164170
Other regulatory liabilities, deferred109121
Other deferred credits and liabilities8939
Total deferred credits and other liabilities1,2431,222
Total Liabilities3,4003,405
Common Stockholder's Equity (See accompanying statements)2,1462,089
Total Liabilities and Stockholder's Equity$5,546$5,494
Number ofCommonSharesIssuedCommonStockPaid-InCapitalRetainedEarnings (Accumulated Deficit)AccumulatedOtherComprehensiveIncome (Loss)Total
(in millions)
Balance at December 31, 20231$38$4,721$(2,756)$—$2,003
Net income———50—50
Capital contributions from parent company——1——1
Other comprehensive income————55
Cash dividends on common stock———(47)—(47)
Balance at March 31, 20241$38$4,722$(2,753)$5$2,012
Balance at December 31, 20241$38$4,791$(2,745)$5$2,089
Net income———55—55
Capital contributions from parent company——51——51
Other comprehensive income——————
Cash dividends on common stock———(48)—(48)
Other————(1)(1)
Balance at March 31, 20251$38$4,842$(2,738)$4$2,146
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.