Company: SOJE
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0000092122-25-000018
Chunk: 1859

Company: SOUTHERN CO
Filing Date: 2025-02-20
Form: 10-K
Item: Item 8
Chunk 1859
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87 $884 $9 $488 $47 Operating lease obligations - current$183 $12 $135 $3 $29 $11 Operating lease obligations - non-current1,307 81 740 6 517 40 Total operating lease obligations(*)$1,490 $93 $875 $9 $546 $51 Finance LeasesFinance lease ROU assets, net$272 $5 $203 $15 $— $— Finance lease obligations - current$11 $2 $18 $1 $— $— Finance lease obligations - non-current287 3 222 15 — — Total finance lease obligations$298 $5 $240 $16 $— $— (*)Includes operating lease obligations related to PPAs at Southern Company, Alabama Power, and Georgia Power totaling $567 million, $55 million, and $1.3 billion, respectively, at December 31, 2024 and $566 million, $58 million, and $813 million, respectively, at December 31, 2023.If not presented separately on the Registrants' balance sheets, amounts related to leases are presented as follows: operating lease ROU assets, net are included in "other deferred charges and assets"; operating lease obligations are included in "other current liabilities" and "other deferred credits and liabilities," as applicable; finance lease ROU assets, net are included in "plant in service"; and finance lease obligations are included in "securities due within one year" and "long-term debt," as applicable.

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    Table of Contents                                Index to Financial StatementsCOMBINED NOTES TO FINANCIAL STATEMENTS

Lease costs for 2024, 2023, and 2022, which includes both amounts recognized as operations and maintenance expense and amounts capitalized as part of the cost of another asset, are as follows:SouthernCompanyAlabamaPowerGeorgiaPowerMississippiPowerSouthern PowerSouthern Company Gas (in millions)2024Lease cost Operating lease cost(*)$248 $19 $190 $4 $27 $12 Finance lease cost:Amortization of ROU assets20 2 23 1 — — Interest on lease obligations15 — 15 1 — — Total finance lease cost35 2 38 2 — —