Company: SOJE
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0000092122-25-000018
Chunk: 1613

Company: SOUTHERN CO
Filing Date: 2025-02-20
Form: 10-K
Item: Item 8
Chunk 1613
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NAV)Total(in millions)Southern Company GasAssets:Equity:72 %72 %Domestic equity$2 $67 $— $69 International equity2 22 — 24 Fixed income:26 26 U.S. Treasury, government, and agency bonds— 1 — 1 Corporate bonds— 1 — 1 Pooled funds— 29 — 29 Cash equivalents and other1 — — 1 Real estate investments— — 1 1 1 1 Private equity— — 1 1 1 1 Total$5 $120 $2 $127 100 %100 %

Employee Savings PlanSouthern Company and its subsidiaries also sponsor 401(k) defined contribution plans covering substantially all employees and provide matching contributions up to specified percentages of an employee's eligible pay. Total matching contributions made to the plans for 2024, 2023, and 2022 were as follows:Southern CompanyAlabamaPowerGeorgiaPowerMississippiPowerSouthernPowerSouthern Company Gas(in millions)2024$137 $29 $31 $5 $3 $20 2023131 28 31 5 3 18 2022124 26 29 5 3 17 

12. STOCK COMPENSATION

Stock-based compensation in the form of Southern Company performance share units (PSU) and restricted stock units (RSU) may be granted through the Equity and Incentive Compensation Plan to eligible Southern Company system employees.At December 31, 2024, the number of current and former employees participating in stock-based compensation programs for the Registrants was as follows:Southern CompanyAlabama PowerGeorgia PowerMississippi PowerSouthern PowerSouthern Company GasNumber of employees1,154 158 161 36 36 183 The majority of PSUs and RSUs awarded contain terms where employees become immediately vested in PSUs and RSUs upon retirement. As a result, compensation expense for employees that are retirement eligible at the grant date is recognized immediately, while compensation expense for employees that are expected to become retirement eligible during the vesting period is recognized over the period from grant date to the date of retirement eligibility. In addition, the Registrants recognize forfeitures as they occur.

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    Table of Contents                                Index to Financial StatementsCOMBINED NOTES TO FINANCIAL STATEMENTS

All unvested PSUs