Company: SOJE
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0000092122-25-000018
Chunk: 1925

Company: SOUTHERN CO
Filing Date: 2025-02-20
Form: 10-K
Item: Item 8
Chunk 1925
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 in the Balance Sheets(b)$28 $84 $21 $87 (a)Gross amounts offset includes cash collateral held on deposit in broker margin accounts of $17 million and $62 million at December 31, 2024 and 2023, respectively.(b)Net amounts of derivative instruments outstanding exclude immaterial premium and intrinsic value associated with weather derivatives for all periods presented.

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    Table of Contents                                Index to Financial StatementsCOMBINED NOTES TO FINANCIAL STATEMENTS

At December 31, 2024 and 2023, the pre-tax effects of unrealized derivative gains (losses) arising from energy-related derivative instruments designated as regulatory hedging instruments and deferred were as follows:Regulatory Hedge Unrealized Gain (Loss) Recognized in the Balance SheetsDerivative Category and Balance SheetLocationSouthernCompanyAlabamaPowerGeorgiaPowerMississippiPowerSouthern Company Gas (in millions)At December 31, 2024:Energy-related derivatives:Other regulatory assets, current$(61)$(23)$(26)$(11)$(1)Other regulatory assets, deferred(5)— — (5)— Other regulatory liabilities, current8 4 — — 4 Other regulatory liabilities, deferred8 3 4 1 — Total energy-related derivative gains (losses)$(50)$(16)$(22)$(15)$3 At December 31, 2023:Energy-related derivatives:Other regulatory assets, current$(180)$(67)$(80)$(25)$(8)Other regulatory assets, deferred(87)(32)(33)(22)— Other regulatory liabilities, current9 4 — 1 4 Other regulatory liabilities, deferred1 — 1 — — Total energy-related derivative gains (losses)$(257)$(95)$(112)$(46)$(4)

II-237

    Table of Contents                                Index to Financial StatementsCOMBINED NOTES TO FINANCIAL STATEMENTS

For the years ended December 31, 2024, 2023, and 2022, the pre-tax effects of cash flow and fair value hedge accounting on AOCI for the applicable Registrants were as follows:Gain (Loss) From Derivatives Recognized in OCI202420232022(in millions)Southern CompanyCash flow hedges:Energy-related derivatives$(7)$(81)$3 Interest rate derivatives23