Company: SOJE
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0000092122-25-000018
Chunk: 1882

Company: SOUTHERN CO
Filing Date: 2025-02-20
Form: 10-K
Item: Item 8
Chunk 1882
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COMBINED NOTES TO FINANCIAL STATEMENTS

2023Southern CompanyAlabama PowerGeorgiaPowerMississippi PowerSouthern PowerSouthern Company Gas(in millions)Change in benefit obligationBenefit obligation at beginning of year$12,602 $2,906 $3,851 $569 $163 $868 Service cost275 64 68 11 6 24 Interest cost626 145 191 28 8 42 Benefits paid(744)(155)(224)(32)(6)(104)Actuarial loss493 116 123 23 6 52 Balance at end of year13,252 3,076 4,009 599 177 882 Change in plan assetsFair value of plan assets at beginning of year14,218 3,427 4,456 649 178 1,002 Actual return on plan assets1,092 260 331 50 12 79 Employer contributions52 11 9 2 2 3 Benefits paid(744)(154)(225)(32)(7)(104)Fair value of plan assets at end of year14,618 3,544 4,571 669 185 980 Accrued asset$1,366 $468 $562 $70 $8 $98 The projected benefit obligations for the qualified and non-qualified pension plans at December 31, 2024 are shown in the following table. All pension plan assets are related to the qualified pension plan.Southern CompanyAlabama PowerGeorgia PowerMississippi PowerSouthern PowerSouthern Company Gas(in millions)Projected benefit obligations:Qualified pension plan$11,886 $2,794 $3,622 $540 $146 $788 Non-qualified pension plan678 114 111 27 21 54 

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    Table of Contents                                Index to Financial StatementsCOMBINED NOTES TO FINANCIAL STATEMENTS

Amounts recognized in the balance sheets at December 31, 2024 and 2023 related to the Registrants' pension plans consist of the following:SouthernCompanyAlabama PowerGeorgiaPowerMississippi PowerSouthern PowerSouthern Company Gas(in millions)December 31, 2024:Prepaid pension costs(a)$2,674 $746 $897 $124 $41 $191 Other regulatory assets, deferred(b)2,708 741 973