Company: SOJE
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0000092122-25-000018
Chunk: 1599

Company: SOUTHERN CO
Filing Date: 2025-02-20
Form: 10-K
Item: Item 8
Chunk 1599
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)(3)— — 6 Net periodic other postretirement benefit cost (income)$(9)$(15)$(3)$1 $1 $6 2022Service cost$23 $6 $6 $1 $— $1 Interest cost42 10 15 2 — 5 Expected return on plan assets(80)(32)(28)(2)1 (9)Net amortization(*)(1)— 2 — — 6 Net periodic other postretirement benefit cost (income)$(16)$(16)$(5)$1 $1 $3 (*)For Southern Company, excludes amounts related to net periodic other postretirement benefit cost of $8 million for all years presented associated with unamortized amounts in Southern Company Gas' other postretirement benefit plans prior to its acquisition by Southern Company.The service cost component of net periodic other postretirement benefit cost is included in operations and maintenance expenses and all other components of net periodic other postretirement benefit cost are included in other income (expense), net in the Registrants' statements of income.The Registrants' future benefit payments, including prescription drug benefits, are provided in the table below. These amounts reflect expected future service and are estimated based on assumptions used to measure the APBO for the other postretirement benefit plans.Southern CompanyAlabama PowerGeorgiaPowerMississippi PowerSouthern PowerSouthern Company Gas(in millions)Benefit payments:2025$112 $24 $40 $5 $1 $16 2026112 25 40 5 1 16 2027113 26 41 5 1 15 2028114 26 41 5 1 15 2029114 27 42 5 1 14 2030 to 2034558 133 205 22 1 61 

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    Table of Contents                                Index to Financial StatementsCOMBINED NOTES TO FINANCIAL STATEMENTS

Benefit Plan AssetsPension plan and other postretirement benefit plan assets are managed and invested in accordance with all applicable requirements, including ERISA and the Internal Revenue Code. The Registrants' investment policies for both the pension plans and the other postretirement benefit plans cover a diversified mix of assets as described below. Derivative instruments may be used to gain efficient exposure to the various asset classes and as hedging tools.