Company: SOJE
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0000092122-25-000018
Chunk: 1923

Company: SOUTHERN CO
Filing Date: 2025-02-20
Form: 10-K
Item: Item 8
Chunk 1923
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 STATEMENTS

The fair value of energy-related derivatives, interest rate derivatives, and foreign currency derivatives was reflected as either assets or liabilities in the balance sheets (included in "Other" or shown separately as "Risk Management Activities") as follows:20242023Derivative Category and Balance Sheet LocationAssetsLiabilitiesAssetsLiabilities(in millions)Southern CompanyEnergy-related derivatives designated as hedging instruments for regulatory purposesCurrent$33 $82 $12 $198 Non-current42 40 31 117 Total derivatives designated as hedging instruments for regulatory purposes75 122 43 315 Derivatives designated as hedging instruments in cash flow and fair value hedgesEnergy-related derivatives:Current4 3 — 29 Non-current4 — 3 4 Interest rate derivatives:Current— 61 — 74 Non-current— 208 — 190 Foreign currency derivatives:Current— 36 — 34 Non-current— 182 — 88 Total derivatives designated as hedging instruments in cash flow and fair value hedges8 490 3 419 Energy-related derivatives not designated as hedging instrumentsCurrent5 3 8 8 Non-current1 — 1 2 Total derivatives not designated as hedging instruments6 3 9 10 Gross amounts recognized 89 615 55 744 Gross amounts offset(a)(44)(61)(23)(85)Net amounts recognized in the Balance Sheets(b)$45 $554 $32 $659 Alabama PowerEnergy-related derivatives designated as hedging instruments for regulatory purposesCurrent$11 $30 $6 $69 Non-current15 12 9 41 Total derivatives designated as hedging instruments for regulatory purposes26 42 15 110 Gross amounts offset(19)(19)(10)(10)Net amounts recognized in the Balance Sheets$7 $23 $5 $100 

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    Table of Contents                                Index to Financial StatementsCOMBINED NOTES TO FINANCIAL STATEMENTS

20242023Derivative Category and Balance Sheet LocationAssetsLiabilitiesAssetsLiabilities(in millions)Georgia PowerEnergy-related derivatives designated as hedging instruments for regulatory purposesCurrent$6 $32 $2 $82 Non-current13 9 10 42 Total derivatives designated as hedging instruments for regulatory purposes19 41 12 124 Energy-related derivatives