Company: SOJE
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0000092122-25-000018
Chunk: 1895

Company: SOUTHERN CO
Filing Date: 2025-02-20
Form: 10-K
Item: Item 8
Chunk 1895
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.Fair Value Measurements UsingQuoted Prices in Active Markets for Identical AssetsSignificantOtherObservableInputsNet Asset Value as a Practical ExpedientTarget AllocationActual AllocationAt December 31, 2024:(Level 1)(Level 2)(NAV)Total(in millions)Southern Company Assets:Equity:41 %41 %Domestic equity$2,095 $835 $— $2,930 International equity1,959 1,032 — 2,991 Fixed income:30 31 U.S. Treasury, government, and agency bonds— 1,780 — 1,780 Mortgage- and asset-backed securities— 48 — 48 Corporate bonds— 1,715 — 1,715 Pooled funds— 792 — 792 Cash equivalents and other255 — — 255 Real estate investments361 — 1,563 1,924 12 13 Special situations— — 237 237 3 2 Private equity— — 1,797 1,797 9 12 Private credit— — 152 152 3 1 Infrastructure— — — — 2 — Total$4,670 $6,202 $3,749 $14,621 100 %100 %Liabilities:Derivatives$— $(33)$— $(33)Total$4,670 $6,169 $3,749 $14,588 100 %100 %

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    Table of Contents                                Index to Financial StatementsCOMBINED NOTES TO FINANCIAL STATEMENTS

Fair Value Measurements UsingQuoted Prices in Active Markets for Identical AssetsSignificantOtherObservableInputsNet Asset Value as a Practical ExpedientTarget AllocationActual AllocationAt December 31, 2024:(Level 1)(Level 2)(NAV)Total(in millions)Alabama PowerAssets:Equity:41 %41 %Domestic equity$509 $203 $— $712 International equity476 251 — 727 Fixed income:30 31 U.S. Treasury, government, and agency bonds— 433 — 433 Mortgage- and asset-backed securities— 12 — 12 Corporate bonds— 417 — 417 Pooled funds—