Company: SOJE
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000092122-25-000042
Chunk: 187

Company: SOUTHERN CO
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 8
Chunk 187
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 December 31, 2024, respectively.(b)Net amounts of derivative instruments outstanding exclude immaterial premium and intrinsic value associated with weather derivatives at March 31, 2025 and December 31, 2024.

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

At March 31, 2025 and December 31, 2024, the pre-tax effects of unrealized derivative gains (losses) arising from energy-related derivative instruments designated as regulatory hedging instruments and deferred were as follows:Regulatory Hedge Unrealized Gain (Loss) Recognized in the Balance SheetDerivative Category and Balance SheetLocationSouthernCompanyAlabamaPowerGeorgiaPowerMississippiPowerSouthern Company Gas (in millions)At March 31, 2025:Energy-related derivatives:Other regulatory assets, current$(1)$— $— $— $(1)Other regulatory assets, deferred(1)— — (1)— Other regulatory liabilities, current114 36 37 21 20 Other regulatory liabilities, deferred34 14 14 5 1 Total energy-related derivative gains (losses)$146 $50 $51 $25 $20 At December 31, 2024:Energy-related derivatives:Other regulatory assets, current$(61)$(23)$(26)$(11)$(1)Other regulatory assets, deferred(5)— — (5)— Other regulatory liabilities, current8 4 — — 4 Other regulatory liabilities, deferred8 3 4 1 — Total energy-related derivative gains (losses)$(50)$(16)$(22)$(15)$3 

73

    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 accumulated OCI for the applicable Registrants were as follows:Gain (Loss) Recognized in OCI on DerivativesFor the Three Months Ended March 31,20252024(in millions)Southern CompanyCash flow hedges:Energy-related derivatives$19 $(8)Interest rate derivatives(2)23 Foreign currency derivatives19 (14)Fair value