Retirement Benefits (Tables)

6 Months Ended

Jun. 30, 2025

Components of the net periodic benefit costs for the three and six months ended June 30, 2025 and 2024 are presented in the following tables.


	Southern Company		Alabama Power		Georgia Power		Mississippi Power		Southern Power		Southern Company Gas
	(in millions)
Three Months Ended June 30, 2025
Pension Plans
Service cost	$	66	$	15	$	15	$	2	$	2	$	7
Interest cost	166		38		49		8		3		11
Expected return on plan assets	(320)		(78)		(99)		(14)		(4)		(22)
Amortization:
Prior service costs	—		—		1		—		—		(1)
Regulatory asset	—		—		—		—		—		4
Net (gain) loss	10		4		3		—		(2)		—
Net periodic pension income	$	(78)	$	(21)	$	(31)	$	(4)	$	(1)	$	(1)

Postretirement Benefits
Service cost	$	3	$	1	$	1	$	—	$	—	$	—
Interest cost	18		4		7		—		—		2
Expected return on plan assets	(22)		(9)		(8)		—		—		(2)
Amortization:

Regulatory asset	—		—		—		—		—		2
Net (gain) loss	(4)		—		(2)		1		—		(2)
Net periodic postretirement benefit cost (income)	$	(5)	$	(4)	$	(2)	$	1	$	—	$	—

Six Months Ended June 30, 2025
Pension Plans
Service cost	$	132	$	30	$	31	$	5	$	3	$	13
Interest cost	332		77		98		15		5		22
Expected return on plan assets	(640)		(156)		(198)		(29)		(8)		(43)
Amortization:
Prior service costs	—		—		1		—		—		(1)
Regulatory asset	—		—		—		—		—		8
Net (gain) loss	19		6		7		1		(1)		—
Net periodic pension income	$	(157)	$	(43)	$	(61)	$	(8)	$	(1)	$	(1)

Postretirement Benefits
Service cost	$	6	$	2	$	2	$	—	$	—	$	—
Interest cost	35		8		13		1		—		4
Expected return on plan assets	(45)		(18)		(16)		—		—		(4)
Amortization:
Prior service costs	1		—		—		—		—		—
Regulatory asset	—		—		—		—		—		3
Net gain	(7)		—		(2)		—		—		(4)
Net periodic postretirement benefit cost (income)	$	(10)	$	(8)	$	(3)	$	1	$	—	$	(1)


	Southern Company		Alabama Power		Georgia Power		Mississippi Power		Southern Power		Southern Company Gas
	(in millions)
Three Months Ended June 30, 2024
Pension Plans
Service cost	$	73	$	17	$	17	$	3	$	1	$	7
Interest cost	158		37		48		7		2		11
Expected return on plan assets	(315)		(76)		(98)		(15)		(4)		(21)
Amortization:
Prior service costs	—		—		1		—		—		(1)
Regulatory asset	—		—		—		—		—		4
Net loss	13		4		4		2		1		—
Net periodic pension income	$	(71)	$	(18)	$	(28)	$	(3)	$	—	$	—

Postretirement Benefits
Service cost	$	3	$	1	$	1	$	—	$	—	$	—
Interest cost	17		4		5		—		—		2
Expected return on plan assets	(22)		(8)		(8)		—		—		(2)
Amortization:

Regulatory asset	—		—		—		—		—		2
Net gain	(4)		(2)		—		—		—		(1)
Net periodic postretirement benefit cost (income)	$	(6)	$	(5)	$	(2)	$	—	$	—	$	1

Six Months Ended June 30, 2024
Pension Plans
Service cost	$	146	$	34	$	35	$	6	$	3	$	14
Interest cost	317		74		96		14		4		21
Expected return on plan assets	(631)		(153)		(197)		(29)		(8)		(43)
Amortization:
Prior service costs	—		—		1		—		—		(1)
Regulatory asset	—		—		—		—		—		8
Net loss	27		8		9		2		1		—
Net periodic pension income	$	(141)	$	(37)	$	(56)	$	(7)	$	—	$	(1)

Postretirement Benefits
Service cost	$	7	$	2	$	2	$	—	$	—	$	—
Interest cost	33		8		11		1		—		4
Expected return on plan assets	(44)		(17)		(16)		—		—		(4)
Amortization:
Prior service costs	1		—		—		—		—		—
Regulatory asset	—		—		—		—		—		3
Net gain	(8)		(2)		(1)		(1)		—		(3)
Net periodic postretirement benefit income	$	(11)	$	(9)	$	(4)	$	—	$	—	$	—