Company: SCE-PL
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000827052-25-000074
Chunk: 81

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 7
Chunk 81
---
 2025 from approximately $1.6 billion cost recoveries authorized under the TKM Settlement Agreement (which offset in the regulatory assets and liabilities changes discussed below), and net charges recorded in 2024 related to 2017/2018 Wildfire/Mudslide Events claims and related legal expense.

The net inflow (outflow) in cash resulting from working capital was $29 million and $(446) million during the six months ended June 30, 2025 and 2024, respectively. Net cash inflow of $29 million for 2025 was mainly driven by cash collected primarily from the sale of renewable energy credits under a CPUC-established program, partially offset by a decrease in payables mainly driven by the payments of various operating expenses. Net cash outflow of $446 million for 2024 was primarily due to an increase in unbilled revenue driven by higher rates and higher sales volume, and a decrease in payables mainly due to the payments of various operating expenses.

Net cash used in regulatory assets and liabilities, including changes in net undercollections recorded in balancing accounts, was $1.6 billion and $106 million during the six months ended June 30, 2025 and 2024, respectively. SCE has a number of balancing and memorandum accounts, which impact cash flows based on differences between timing of collection through rates and incurring expenditures. In 2025, regulatory assets and liabilities related changes were primarily driven by current year net undercollections resulting from cost recoveries authorized under the TKM Settlement Agreement (which offset in the net income and non-cash items discussed above) and lower sales price and volume than forecast. These impacts were partially offset by recovery of prior year undercollections. Cash flows in 2024 were primarily due to current-year undercollections driven by lower-than-forecast sales volume from mild weather, partially offset by recovery of prior-year undercollections. 

18

Net Cash Provided by Financing Activities

The following table summarizes cash provided by financing activities for the six months ended June 30, 2025 and 2024, respectively. Issuances of debt are discussed in "Notes to Condensed Consolidated Financial Statements—Note 5. Debt and Credit Agreements."

Six months ended June 30,Change(in millions)20252024Inflow/(Outflow)Issuances of long-term debt, net of discount and issuance costs$2,962 $3,719 $(757)Long-term debt repaid(326)(1,725)1,399