Company: SCE-PL
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000827052-25-000022
Chunk: 283

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-02-27
Form: 10-K
Item: Item 1A
Chunk 283
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, 2023(in millions)2017/2018 Wildfire/Mudslide EventsOther Wildfire EventsTotalCharge for wildfire-related claims$630 $184 $814 Expected insurance recoveries1— (149)(149)Expected recoveries through electric rates(37)(2)(39)Total pre-tax charge593 33 626 Income tax benefit(165)(9)(174)Total after-tax charge$428 $24 $452 Year ended December 31, 2022(in millions)2017/2018 Wildfire/Mudslide EventsOther Wildfire EventsTotalCharge for wildfire-related claims$1,296 $572 $1,868 Expected insurance recoveries1— (399)(399)Expected recoveries through electric rates(76)(162)(238)Total pre-tax charge1,220 11 1,231 Income tax benefit(341)(3)(344)Total after-tax charge$879 $8 $887 1.In 2024, 2023 and 2022, Edison Insurance Services, Inc. ("EIS"), a wholly-owned subsidiary of Edison International, incurred $4 million, $3 million and $9 million insurance expenses, respectively. These amounts were included in the insurance recoveries of SCE but were excluded from those of Edison International. In total, through December 31, 2024, SCE has recorded estimated losses of $11 billion, expected recoveries from insurance and third parties of $2.7 billion and expected recoveries through electric rates of $617 million related to the 2017/2018 Wildfire/Mudslide Events and the Other Wildfire Events. The after-tax net charges to earnings recorded through December 31, 2024, have been $5.6 billion. Recoveries SCE has exhausted expected insurance recoveries related to the 2017/2018 Wildfire/Mudslide Events. Expected recoveries from insurance recorded for the Other Wildfire Events are supported by SCE's insurance coverage for multiple policy years. Edison International and SCE record a receivable for insurance recoveries when recovery of a recorded loss is determined to be probable.Recovery of SCE's losses realized in connection with the Woolsey Fire and the Other Wildfire Events in excess of available insurance is subject to approval by regulators. The CPUC and FERC may not allow SCE to recover uninsured losses through electric rates, including by requiring refund of amounts recovered, if it is determined that such losses were