Company: SOJE
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0000092122-25-000018
Chunk: 1312

Company: SOUTHERN CO
Filing Date: 2025-02-20
Form: 10-K
Item: Item 8
Chunk 1312
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                                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)Southern Company GasAssets:Equity:41 %41 %Domestic equity$142 $56 $— $198 International equity132 69 — 201 Fixed income:30 31 U.S. Treasury, government, and agency bonds— 120 — 120 Mortgage- and asset-backed securities— 3 — 3 Corporate bonds— 115 — 115 Pooled funds— 53 — 53 Cash equivalents and other17 — — 17 Real estate investments24 — 105 129 12 13 Special situations— — 16 16 3 2 Private equity— — 121 121 9 12 Private credit— — 10 10 3 1 Infrastructure— — — — 2 — Total$315 $416 $252 $983 100 %100 %Liabilities:Derivatives$— $(2)$— $(2)Total$315 $414 $252 $981 100 %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, 2023:(Level 1)(Level 2)(NAV)Total(in millions)Southern CompanyAssets:Equity:41 %40 %Domestic equity$1,959 $771 $— $2,730 International equity1,947 1,052 — 2,999 Fixed income:30 32 U.S. Treasury, government, and agency bonds— 1,973 — 1,973 Mortgage- and asset-backed securities— 44 — 44 Corporate bonds— 1,724 — 1,724 Pooled funds— 777 —