Company: SOJE
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0000092122-25-000018
Chunk: 4382

Company: SOUTHERN CO
Filing Date: 2025-02-20
Form: 10-K
Item: Item 2
Chunk 4382
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 totaled approximately $1.7 billion (comprised of approximately $796 million at Alabama Power, $819 million at Georgia Power, and $69 million at Mississippi Power). In addition, at December 31, 2024, Alabama Power and Georgia Power had approximately $207 million and $157 million, respectively, of fixed rate revenue bonds outstanding that are required to be remarketed within the next 12 months. Alabama Power's $207 million of fixed rate revenue bonds are classified as securities due within one year on its balance sheet as they are not covered by long-term committed credit. All other variable rate demand revenue bonds and fixed rate revenue bonds required to be remarketed within the next 12 months are classified as long-term debt on the balance sheets as a result of available long-term committed credit.

See Note 8 to the financial statements under "Bank Credit Arrangements" for additional information.

Short-term Borrowings

The Registrants, Nicor Gas, and SEGCO make short-term borrowings primarily through commercial paper programs that have the liquidity support of the committed bank credit arrangements described above. Southern Power's subsidiaries are not issuers or obligors under its commercial paper program. Commercial paper and short-term bank term loans are included in notes payable in the balance sheets. Details of the Registrants' short-term borrowings were as follows:

Short-term Debt at the End of the PeriodAmountOutstandingWeighted AverageInterest RateDecember 31,December 31,202420232022202420232022(in millions)Southern Company$1,338 $2,314 $2,609 4.8 %5.7 %4.9 %Alabama Power— 40 — — 5.5 — Georgia Power200 1,329 1,600 5.3 5.9 5.0 Mississippi Power14 — — 4.6 — — Southern Power— 138 225 — 5.5 4.7 Southern Company Gas:Southern Company Gas Capital$283 $23 $285 4.7 %5.5 %4.8 %Nicor Gas172 392 483 4.6 5.5 4.7 Southern Company Gas Total$455 $415 $768 4.7 %5.5 %4.7 %

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