Company: SCE-PL
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000827052-25-000022
Chunk: 240

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-02-27
Form: 10-K
Item: Item 1A
Chunk 240
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 $74 $4,466 1Represents the netting of assets and liabilities under master netting agreements and cash collateral.2Approximately 75% of SCE's equity investments were in companies located in the United States at December 31, 2024 and 2023.3Includes corporate bonds, which were diversified by the inclusion of collateralized mortgage obligations and other asset backed securities of $94 million and $106 million at December 31, 2024 and 2023, respectively.4Excludes net payables of $105 million and $102 million at December 31, 2024 and 2023, respectively, which consist of interest and dividend receivables as well as receivables and payables related to SCE's pending securities sales and purchases.

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Table of Contents

SCE Fair Value of Level 3The following table sets forth a summary of changes in SCE's fair value of Level 3 net derivative assets and liabilities:Years ended December 31,(in millions)20242023Fair value of net assets at beginning of period$91 $63 Sales(1)(1)Settlements14 (40)Total realized/unrealized gains, net of losses1108 69 Fair value of net assets at end of period$212 $91 1Due to regulatory mechanisms, SCE's realized and unrealized gains and losses are recorded as regulatory assets and liabilities.There were no material transfers into or out of Level 3 during 2024 and 2023.The following table sets forth the significant unobservable inputs used to determine fair value for Level 3 CRR assets and liabilities:Fair Value(in millions)SignificantUnobservableInputRange(per MWh)WeightedAverage(per MWh)AssetsLiabilitiesDecember 31, 2024$212$—CAISO CRR auction prices$(4.64) - $50,048.16$27.20December 31, 202391—CAISO CRR auction prices(6.44) - 16,574.362.74Level 3 Fair Value UncertaintyFor CRRs, increases or decreases in CAISO auction prices would result in higher or lower fair value, respectively.Nuclear Decommissioning TrustsSCE's nuclear decommissioning trust investments include equity securities, U.S. treasury securities and other fixed income securities. Equity and treasury securities are classified as Level 1 as fair value is determined by observable market prices in active or highly liquid and transparent markets.