Company: SOJE
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0000092122-25-000018
Chunk: 176

Company: SOUTHERN CO
Filing Date: 2025-02-20
Form: 10-K
Item: Item 5
Chunk 176
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)2024$339 $76 $209 $7 $47 2023400 109 251 3 37 2022327 90 213 — 24 (*)See Note 2 under "Georgia Power – Nuclear Construction" for information on the inclusion of a portion of construction costs related to Plant Vogtle Units 3 and 4 in Georgia Power's rate base through each unit's respective in-service date.The average AFUDC composite rates for 2024, 2023, and 2022 for the traditional electric operating companies and the natural gas distribution utilities were as follows:202420232022Alabama Power8.1 %8.1 %7.9 %Georgia Power(a)7.7 %7.6 %7.3 %Mississippi Power(b)— %— %5.3 %Southern Company Gas:Atlanta Gas Light7.7 %7.4 %7.6 %Chattanooga Gas7.1 %7.1 %7.1 %Nicor Gas5.6 %4.6 %2.0 %(a)Excludes AFUDC related to the construction of Plant Vogtle Units 3 and 4 in 2022 and 2023 and Plant Vogtle Unit 4 in 2024. See Note 2 under "Georgia Power – Nuclear Construction" for additional information.(b)Mississippi Power's AFUDC was immaterial in 2024 and 2023.Impairment of Long-Lived AssetsThe Registrants evaluate long-lived assets for impairment when events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. The determination of whether an impairment has occurred is based on either a specific regulatory disallowance, a sales transaction price that is less than the asset group's carrying amount, or an estimate of undiscounted future cash flows attributable to the asset group, as compared with the carrying amount of the assets. If an impairment has occurred, the amount of the impairment loss recognized is determined by either the amount of regulatory disallowance or by the amount the carrying amount exceeds the estimated fair value of the assets. For assets identified as held for sale, the carrying amount is compared to the estimated fair value less the cost to sell in order to determine if an impairment loss is required. Until the assets are disposed of, their estimated fair value is re-evaluated when circumstances or events change.In the