Southern Co.
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $4.34B | $4.40B | $3.98B | $3.43B | $2.31B | $3.10B | $4.74B | $2.30B |
| Depreciation & Amortization | $6.03B | $5.27B | $4.99B | $4.06B | $3.97B | $3.91B | $3.33B | $3.55B |
| Depreciation | — | — | — | — | — | — | — | — |
| Amortization | $32.0M | $35.0M | $38.0M | $39.0M | $44.0M | $49.0M | $61.0M | $89.0M |
| Stock-Based Compensation | — | — | — | — | — | — | — | — |
| Net Cash from Operating Activities | $9.80B | $9.79B | $7.55B | $6.30B | $6.17B | $6.70B | $5.78B | $6.95B |
| Investing Activities | ||||||||
| Capital Expenditures | $12.74B | $8.96B | $9.10B | $7.92B | $7.59B | $7.52B | $7.56B | $8.00B |
| Business Acquisitions | $635.0M | $0 | $0 | — | $345.0M | $81.0M | $50.0M | $65.0M |
| Net Cash from Investing Activities | $-13.96B | $-9.40B | $-9.67B | $-8.43B | $-7.35B | $-7.03B | $-3.39B | $-5.76B |
| Financing Activities | ||||||||
| Dividends Paid | $3.02B | $2.95B | $3.04B | $2.91B | $2.78B | $2.69B | $2.57B | $2.43B |
| Stock Repurchases | — | — | — | — | — | — | — | — |
| Net Cash from Financing Activities | $4.70B | $-208.0M | $999.0M | $2.34B | $1.95B | $-576.0M | $-1.93B | $-1.81B |
| Net Change in Cash | — | — | — | — | — | — | — | — |
| Free Cash Flow | $-2.94B | $833.0M | $-1.54B | $-1.62B | $-1.42B | $-826.0M | $-1.77B | $-1.06B |