Company: SOJE
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000092122-25-000042
Chunk: 188

Company: SOUTHERN CO
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 8
Chunk 188
---
 hedges(*):Foreign currency derivatives(16)— Total$20 $1 Georgia PowerCash flow hedges:Interest rate derivatives$(2)$16 Mississippi PowerCash flow hedges:Interest rate derivatives$— $7 Southern PowerCash flow hedges:Energy-related derivatives$3 $(1)Foreign currency derivatives19 (14)Total$22 $(15)Southern Company GasCash flow hedges:Energy-related derivatives$16 $(7)(*)Represents amounts excluded from the assessment of effectiveness for which the difference between changes in fair value and periodic amortization is recorded in OCI.

74

    Table of Contents                                Index to Financial StatementsNOTES TO THE CONDENSED FINANCIAL STATEMENTS (Continued)(UNAUDITED)

For the three months ended March 31, 2025 and 2024, the pre-tax effects of cash flow and fair value hedge accounting on income were as follows:Gain (Loss)Statements of Income LocationDerivative CategoryFor the Three Months Ended March 31,20252024(in millions)Southern CompanyFuelEnergy-related cash flow hedges$1 $(1)Cost of natural gasEnergy-related cash flow hedges(1)(23)Other operations and maintenanceEnergy-related cash flow hedges— (1)Interest expense, net of amounts capitalizedInterest rate cash flow hedges(2)(4)Foreign currency cash flow hedges(3)(3)Interest rate fair value hedges40 (31)Other income (expense), netForeign currency cash flow hedges21 (12)Foreign currency fair value hedges40 39 Amount excluded from effectiveness testing recognized in earnings16 — Southern PowerFuelEnergy-related cash flow hedges$1 $(1)Interest expense, net of amounts capitalizedForeign currency cash flow hedges(3)(3)Other income (expense), netForeign currency cash flow hedges21 (12)Southern Company GasCost of natural gasEnergy-related cash flow hedges$(1)$(23)Operations and maintenanceEnergy-related cash flow hedges— (1)Interest expense, net of amounts capitalizedInterest rate fair value hedges17 (4)At March 31, 2025 and December 31, 2024, the following amounts were recorded on the balance sheets related to cumulative basis adjustments for fair value hedges:Carrying Amount of the Hedged ItemCumulative Amount of Fair Value Hedging Adjustment included in Carrying Amount of the Hedged