Company: SOJE
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000092122-25-000084
Chunk: 86

Company: SOUTHERN CO
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 1
Chunk 86
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 balance sheets are presented net to the extent that there are netting arrangements or similar agreements with the counterparties.

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

The fair value of energy-related derivatives, interest rate derivatives, and foreign currency derivatives was reflected as either assets or liabilities in the balance sheets (included in "Other" or shown separately as "Risk Management Activities") as follows:At September 30, 2025At December 31, 2024Derivative Category and Balance Sheet LocationAssetsLiabilitiesAssetsLiabilities(in millions)Southern CompanyEnergy-related derivatives designated as hedging instruments for regulatory purposesCurrent$34 $44 $33 $82 Non-current51 32 42 40 Total derivatives designated as hedging instruments for regulatory purposes85 76 75 122 Derivatives designated as hedging instruments in cash flow and fair value hedgesEnergy-related derivatives:Current2 6 4 3 Non-current4 — 4 — Interest rate derivatives:Current7 53 — 61 Non-current— 138 — 208 Foreign currency derivatives:Current20 21 — 36 Non-current11 — — 182 Total derivatives designated as hedging instruments in cash flow and fair value hedges44 218 8 490 Energy-related derivatives not designated as hedging instrumentsCurrent13 7 5 3 Non-current— — 1 — Total derivatives not designated as hedging instruments13 7 6 3 Gross amounts recognized142 301 89 615 Gross amounts offset(a)(54)(63)(44)(61)Net amounts recognized in the Balance Sheets(b)$88 $238 $45 $554 Alabama PowerEnergy-related derivatives designated as hedging instruments for regulatory purposesCurrent$13 $13 $11 $30 Non-current18 12 15 12 Total derivatives designated as hedging instruments for regulatory purposes31 25 26 42 Gross amounts offset(17)(17)(19)(19)Net amounts recognized in the Balance Sheets$14 $8 $7 $23 

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