Company: SCE-PL
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000827052-25-000043
Chunk: 64

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-04-29
Form: 10-Q
Item: Item 7
Chunk 64
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 related to Other Wildfire Events.

For further information, see "Notes to Condensed Consolidated Financial Statements—Note 12. Commitments and Contingencies—Contingencies—Southern California Wildfires and Mudslides."

Depreciation and Amortization

An increase in depreciation and amortization expense of $40 million was due to a $21 million increase primarily driven by higher plant balances, and $19 million of pass-through costs mainly related to utility owned energy storage projects and wildfire mitigation activities (offset in "Operating Revenue" above). 

Property and Other Taxes

An increase in property and other taxes expense of $12 million was primarily related to higher assessed property values and $8 million of pass-through costs (offset in "Operating Revenue" above).

Interest Expense

A decrease of $154 million was primarily due to a benefit to interest expense of $171 million related to cost recoveries authorized under the TKM Settlement Agreement, partially offset by higher pass-through interest expense of $13 million (offset in "Operating Revenue" above).

Other Income, net

A decrease in other income, net of $24 million was primarily due to a decrease in interest income driven by lower balancing account undercollection balances.

9

Income Taxes

An increase in income tax expense of $572 million was primarily due to $580 million higher tax expense on higher pre-tax income, partially offset by $8 million higher flow-through tax benefits that were passed through to customers (offset in "Operating Revenue" above). See "Notes to Condensed Consolidated Financial Statements—Note 8. Income Taxes" for a reconciliation of the federal statutory rate to the effective income tax rate.

Edison International Parent and Other

Results of operations for Edison International Parent and Other include amounts from other subsidiaries that are not reportable segments, as well as intercompany eliminations.

Three months ended March 31, 2025 versus March 31, 2024

The following table summarizes the results of Edison International Parent and Other:

Three months ended March 31,Favorable (Unfavorable)(in millions)202520242025 to 2024Edison International Parent and Other net loss$(109)$(54)$(55)Less: Preferred stock dividend requirements22 22 — Edison International Parent and Other net loss available to common shareholders$(131)$(76)$(55)

The net loss available to common shareholders from operations of Edison International Parent and Other increased $55 million for the three months ended March 31, 2025, compared to the