Company: SOJE
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0000092122-25-000018
Chunk: 1340

Company: SOUTHERN CO
Filing Date: 2025-02-20
Form: 10-K
Item: Item 8
Chunk 1340
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(12)46 Foreign currency derivatives(40)14 (105)Fair value hedges(*):Foreign currency derivatives16 21 (24)Total$(8)$(58)$(80)Georgia PowerCash flow hedges:Interest rate derivatives$24 $(2)$31 Mississippi PowerCash flow hedges:Interest rate derivatives$7 $— $— Southern PowerCash flow hedges:Energy-related derivatives$(1)$(18)$(15)Foreign currency derivatives(40)14 (105)Total$(41)$(4)$(120)Southern Company GasCash flow hedges:Energy-related derivatives$(6)$(63)$18 Interest rate derivatives(5)— — Total$(11)$(63)$18 (*)Represents amounts excluded from the assessment of effectiveness for which the difference between changes in fair value and periodic amortization is recorded in OCI.The pre-tax effects of interest rate derivatives designated as cash flow hedging instruments on AOCI were immaterial for Alabama Power for the years ended December 31, 2023 and 2022.

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    Table of Contents                                Index to Financial StatementsCOMBINED NOTES TO FINANCIAL STATEMENTS

The pre-tax effects of cash flow and fair value hedge accounting on income for the years ended December 31, 2024, 2023, and 2022 were as follows:Gain (Loss)Statements of Income LocationDerivative Category202420232022(in millions)Southern CompanyCost of natural gasEnergy-related cash flow hedges$(40)$(44)$37 Other operations and maintenanceEnergy-related cash flow hedges(2)(2)— Depreciation and amortizationEnergy-related cash flow hedges(6)(23)(5)Interest expense, net of amounts capitalizedInterest rate cash flow hedges(16)(35)(25)Foreign currency cash flow hedges(12)(11)(19)Interest rate fair value hedges(4)37 (291)Other income (expense), netForeign currency cash flow hedges(33)19 (83)Foreign currency fair value hedges2 69 (106)Amount excluded from effectiveness testing recognized in earnings(16)(21)24 Southern PowerDepreciation and amortizationEnergy-related cash flow hedges$(6)$(23)$(5)Interest expense, net of amounts capitalizedForeign currency cash flow hedges(12)(11)(19)Other income (expense), netForeign currency cash flow