v3.26.1
Fair Value Measurements
 12 Months Ended
Dec. 31, 2025
EBP 002  
EBP, Investment, Fair Value and NAV [Line Items]  
Fair Value Measurements Fair Value Measurements
Financial Accounting Standards Board Accounting Standard Codification Topic 820 establishes a fair value hierarchy that prioritizes observable and unobservable inputs to valuation techniques used to measure fair value. These levels, in order of highest to lowest priority are described below:
Level 1Quoted prices (unadjusted) in active markets for identical assets or liabilities at the measurement date.
Level 2Observable prices that are based on inputs not quoted on active markets but corroborated by market data.
Level 3Prices that are unobservable for the asset or liability and are developed based on the best information available under the circumstances, which might include the Plan Sponsor’s own data.
    
The Plan classifies its investments based on the lowest level of input that is significant to the fair value measurement. The following tables set forth, by level within the fair value hierarchy, a summary of the Plan’s investments measured at fair value as of December 31, 2025 and 2024.
Level 1Level 2Total
December 31, 2025
Southern Company Common Stock$3,133,901,439 $3,133,901,439 
Money Market Fund4,453,394 4,453,394 
Self-Directed Investments893,397,975 43,666,599 937,064,574 
Total Investments in Hierarchy$4,031,752,808 $43,666,599 $4,075,419,407 
Investments Valued at NAV
     Common Collective Trusts (1)(2)6,035,516,366 
Total Investments at Fair Value$10,110,935,773 
Level 1Level 2Total
December 31, 2024
Southern Company Common Stock$3,064,813,002 $3,064,813,002 
Money Market Fund2,011,460 2,011,460 
Self-Directed Investments756,504,353 41,146,530 797,650,883 
Total Investments in Hierarchy$3,823,328,815 $41,146,530 $3,864,475,345 
Investments Valued at NAV
     Common Collective Trusts (1)(2)5,303,001,223 
Total Investments at Fair Value$9,167,476,568 
(1)Certain investments measured at NAV per unit (or its equivalent) have not been classified in the fair value hierarchy. The fair value amounts presented are intended to permit reconciliation of the fair value hierarchy to the statement of net assets available for benefits.
(2)Measured using the NAV per unit (or its equivalent) as a practical expedient and held in a fund that files a Form 5500, Annual Return/Report of Employee Benefit Plan, as a direct filing entity.