Company: SOJE
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0000092122-25-000018
Chunk: 326

Company: SOUTHERN CO
Filing Date: 2025-02-20
Form: 10-K
Item: Item 6
Chunk 326
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II-48

    Table of Contents                                Index to Financial Statements        COMBINED MANAGEMENT'S DISCUSSION AND ANALYSIS

The following table illustrates the sensitivity to changes in the applicable Registrants' long-term assumptions with respect to the discount rate, salary increases, and the long-term rate of return on plan assets:

Increase/(Decrease) in25 Basis Point Change in:Total Benefit Expense for 2025Projected Obligation for Pension Plan at December 31, 2024Projected Obligation forOther PostretirementBenefit Plans at December 31, 2024(in millions)Discount rate:Southern Company$29/$(24)$370/$(351)$31/$(30)Alabama Power$8/$(7)$89/$(84)$8/$(8)Georgia Power$8/$(7)$106/$(101)$11/$(10)Mississippi Power$1/$(1)$16/$(16)$1/$(1)Southern Company Gas$2/$(2)$24/$(23)$3/$(3)Salaries:Southern Company$15/$(15)$75/$(72)$–/$–Alabama Power$4/$(4)$20/$(20)$–/$–Georgia Power$4/$(4)$20/$(19)$–/$–Mississippi Power$1/$(1)$3/$(3)$–/$–Southern Company Gas$1/$(1)$2/$(2)$–/$–Long-term return on plan assets:Southern Company$40/$(41)N/AN/AAlabama Power$10/$(10)N/AN/AGeorgia Power$13/$(13)N/AN/AMississippi Power$2/$(2)N/AN/ASouthern Company Gas$3/$(3)N/AN/A

See Note 11 to the financial statements for additional information regarding pension and other postretirement benefits.

Impairment (Southern Company, Alabama Power, Southern Power, and Southern Company Gas)

Goodwill (Southern Company and Southern Company Gas)

The acquisition method of accounting for business combinations requires the assets acquired and liabilities assumed to be recorded at the date of acquisition at their respective estimated fair values. The applicable Registrants have recognized goodwill as of the date of their acquisitions, as a residual over the fair values of the identifiable net assets acquired. Goodwill is recorded at the reporting unit level, which is the operating segment or a business one level below the operating segment