Company: SOJE
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0000092122-25-000018
Chunk: 1578

Company: SOUTHERN CO
Filing Date: 2025-02-20
Form: 10-K
Item: Item 8
Chunk 1578
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0.1)— (17.2)(0.1)Noncontrolling interests0.5 — — — 8.4 — Other— 0.3 — 0.3 (0.1)(0.9)Effective income tax rate18.8 %23.8 %16.9 %18.2 %7.4 %23.9 %

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    Table of Contents                                Index to Financial StatementsCOMBINED NOTES TO FINANCIAL STATEMENTS

Deferred Tax Assets and LiabilitiesThe tax effects of temporary differences between the carrying amounts of assets and liabilities in the financial statements of the Registrants and their respective tax bases, which give rise to deferred tax assets and liabilities, are as follows:December 31, 2024Southern CompanyAlabama PowerGeorgiaPowerMississippi PowerSouthern PowerSouthern Company Gas(in millions)Deferred tax liabilities —Accelerated depreciation$9,828 $2,583 $3,810 $344 $1,309 $1,575 Property basis differences3,025 1,497 918 192 — 412 Employee benefit obligations1,067 362 470 54 13 60 AROs727 458 221 — — — Under recovered fuel and natural gas costs 318 13 305 — — — Regulatory assets –AROs1,886 658 1,193 35 — — Employee benefit obligations746 191 237 35 — 35 Remaining book value of retired assets360 168 187 5 — — Storm damage reserves216 — 216 — — — Premium on reacquired debt57 8 48 1 — — Other678 171 187 61 1 201 Total deferred income tax liabilities18,908 6,109 7,792 727 1,323 2,283 Deferred tax assets —AROs2,613 1,116 1,414 35 — — CAMT carryforwards40 — 18 — — 104 ITC and PTC carryforwards1,380 48 719 — 384 — Employee benefit obligations897 196 279 49 16 87 Estimated loss on plants under construction773 —