Company: SOJE
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000092122-25-000076
Chunk: 81

Company: SOUTHERN CO
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 1
Chunk 81
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 FINANCIAL STATEMENTS (Continued)(UNAUDITED)

At June 30, 2025At December 31, 2024Derivative Category and Balance Sheet LocationAssetsLiabilitiesAssetsLiabilities(in millions)Georgia PowerEnergy-related derivatives designated as hedging instruments for regulatory purposesCurrent$15 $11 $6 $32 Non-current20 6 13 9 Total derivatives designated as hedging instruments for regulatory purposes35 17 19 41 Interest rate derivatives designated as hedging instruments in cash flow and fair value hedgesCurrent— 1 — — Energy-related derivatives not designated as hedging instrumentsCurrent— 2 — 1 Gross amounts recognized35 20 19 42 Gross amounts offset(16)(16)(15)(15)Net amounts recognized in the Balance Sheets$19 $4 $4 $27 Mississippi PowerEnergy-related derivatives designated as hedging instruments for regulatory purposesCurrent$9 $9 $5 $15 Non-current19 10 14 19 Total derivatives designated as hedging instruments for regulatory purposes28 19 19 34 Gross amounts offset(16)(16)(17)(17)Net amounts recognized in the Balance Sheets$12 $3 $2 $17 Southern PowerDerivatives designated as hedging instruments in cash flow hedgesEnergy-related derivatives:Current$1 $— $1 $— Non-current3 — 3 — Foreign currency derivatives:Current26 — — 11 Non-current— — — 40 Total derivatives designated as hedging instruments in cash flow hedges30 — 4 51 Net amounts recognized in the Balance Sheets$30 $— $4 $51 

80

    Table of Contents                                Index to Financial StatementsNOTES TO THE CONDENSED FINANCIAL STATEMENTS (Continued)(UNAUDITED)

At June 30, 2025At December 31, 2024Derivative Category and Balance Sheet LocationAssetsLiabilitiesAssetsLiabilities(in millions)Southern Company GasEnergy-related derivatives designated as hedging instruments for regulatory purposesCurrent$10 $5 $11 $5 Derivatives designated as hedging instruments in cash flow and fair value hedgesEnergy-related derivatives:Current4 2 3 3 Non-current1 — 1 —