Company: SOJE
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0000092122-25-000018
Chunk: 1298

Company: SOUTHERN CO
Filing Date: 2025-02-20
Form: 10-K
Item: Item 8
Chunk 1298
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50 Total regulatory assets(*)$2,913 $821 $1,051 $152 $143 (*)Amounts for Southern Company exclude regulatory assets of $155 million and $173 million at December 31, 2024 and 2023, respectively, associated with unamortized amounts in Southern Company Gas' pension plans prior to its acquisition by Southern Company.

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    Table of Contents                                Index to Financial StatementsCOMBINED NOTES TO FINANCIAL STATEMENTS

The changes in the balance of regulatory assets related to the portion of the defined benefit pension plan attributable to Southern Company, the traditional electric operating companies, and Southern Company Gas for the years ended December 31, 2024 and 2023 are presented in the following table:SouthernCompanyAlabama PowerGeorgiaPowerMississippi PowerSouthern Company Gas(in millions)Regulatory assets (liabilities):(*)Balance at December 31, 2022$2,371 $679 $887 $123 $111 Net loss576 153 178 31 34 Reclassification adjustments:Amortization of prior service costs(1)(1)(1)— 2 Amortization of net loss(33)(10)(13)(2)— Amortization of regulatory assets(*)— — — — (4)Total reclassification adjustments(34)(11)(14)(2)(2)Total change542 142 164 29 32 Balance at December 31, 2023$2,913 $821 $1,051 $152 $143 Net gain(199)(63)(58)(5)(7)Reclassification adjustments:Amortization of prior service costs(1)(1)(1)— 2 Amortization of net loss(55)(16)(19)(3)(1)Amortization of regulatory assets(*)— — — — (11)Total reclassification adjustments(56)(17)(20)(3)(10)Total change(255)(80)(78)(8)(17)Balance at December 31, 2024$2,658 $741 $973 $144 $126 (*)Amounts for Southern Company exclude regulatory assets of $155 million and $173 million at December 31, 2024 and 2023, respectively, associated with unamortized amounts in Southern Company Gas' pension plans prior to its acquisition by Southern Company.Present