Company: SCE-PL
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0000827052-25-000100
Chunk: 130

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-10-28
Form: 10-Q
Item: Item 7
Chunk 130
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858)Total operating revenue$5,740 $5,188 $14,074 $13,576 1The revenue requirement in the 2025 GRC final decision are retroactive to January 1, 2025. SCE recorded the impact of the 2025 GRC decision in the third quarter of 2025, including $418 million related to the six-month period ended June 30, 2025. 2At September 30, 2025 and December 31, 2024, SCE's receivables related to contracts from customers were $3.2 billion and $2.9 billion, respectively, which include accrued unbilled revenue of $1.2 billion and $845 million, respectively.3Includes differences between revenues from contracts with customers and authorized levels for certain CPUC and FERC revenues.Deferred RevenueAs of September 30, 2025, SCE has deferred revenue of $344 million related to the sale of the use of transfer capability of West of Devers transmission line, of which $13 million and $331 million are included in "Other current liabilities" and "Other deferred credits and other long-term liabilities," respectively, on SCE's condensed consolidated balance sheets. The deferred revenue is amortized straight-line over the period of 30 years starting in 2021.

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Note 8.  Income Taxes

Effective Tax RateThe table below provides a reconciliation of income tax expense computed at the federal statutory income tax rate to the income tax provision:Three months ended September 30,Nine months ended September 30,(in millions)2025202420252024Edison International:Income from operations before income taxes$1,063 $645 $3,387 $1,152 Provision for income tax at federal statutory rate of 21%223 136 711 242 Increase (decrease) in income tax from:State tax, net of federal tax effect43 12 134 (18)Property-related(72)(78)(198)(195)Other(19)(2)(38)(15)Total income tax expense$175 $68 $609 $14 Effective tax rate16.5%10.5%18.0%1.2%SCE:Income from operations before income taxes$1,162 $736 $3,741 $1,413 Provision for income tax at federal statutory rate of 21%244 155