Company: SOJE
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0000092122-25-000018
Chunk: 4903

Company: SOUTHERN CO
Filing Date: 2025-02-20
Form: 10-K
Item: Item 4
Chunk 4903
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IEs.

II-128

    Table of Contents                                Index to Financial StatementsCOMBINED NOTES TO FINANCIAL STATEMENTS

2. REGULATORY MATTERS

Regulatory Assets and LiabilitiesDetails of regulatory assets and (liabilities) reflected in the balance sheets at December 31, 2024 and 2023 are provided in the following tables:Southern CompanyAlabama PowerGeorgia PowerMississippi PowerSouthern Company Gas(in millions)At December 31, 2024AROs(*)$5,810 $1,906 $3,658 $248 $— Retiree benefit plans(*)2,605 680 892 134 44 Remaining net book value of retired assets1,198 454 729 15 — Deferred income tax charges927 264 634 27 — Storm damage859 — 827 32 — Deferred depreciation535 286 249 — — Environmental remediation(*)249 — 16 — 233 Vacation pay(*)224 85 112 12 15 Loss on reacquired debt219 32 183 4 — Software and cloud computing costs200 76 116 4 4 Under recovered regulatory clause revenues167 119 — 17 31 Regulatory clauses162 82 — — 80 Nuclear outage92 39 53 — — Fuel-hedging (realized and unrealized) losses69 23 29 17 — Qualifying repairs of natural gas distribution systems53 — — — 53 Long-term debt fair value adjustment52 — — — 52 Plant Daniel Units 3 and 423 — — 23 — Other regulatory assets184 42 40 30 72 Deferred income tax credits(4,536)(1,398)(2,149)(219)(755)Other cost of removal obligations(1,176)24 816 (170)(1,846)Over recovered regulatory clause revenues(285)(29)(52)— (204)Reliability reserves(188)(131)— (57)— Storm/property damage reserves(122)(70)— (52)— Nuclear fuel disposal cost recovery(100)(100)— — — Other regulatory liabilities(180)(28)(14)(6)(31)Total regulatory assets (liabilities), net$