Company: SCE-PL
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000827052-25-000074
Chunk: 110

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 7
Chunk 110
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 the 2025 CPUC-authorized ROE. For further information, see Note 1.2At June 30, 2025 and December 31, 2024, SCE's receivables related to contracts from customers were $2.7 billion and $2.9 billion, respectively, which include accrued unbilled revenue of $925 million and $845 million, respectively.3Includes differences between revenues from contracts with customers and authorized levels for certain CPUC and FERC revenues.Deferred RevenueAs of June 30, 2025, SCE has deferred revenue of $348 million related to the sale of the use of transfer capability of West of Devers transmission line, of which $13 million and $335 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 TaxesEffective 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 June 30,Six months ended June 30,(in millions)2025202420252024Edison International:Income from operations before income taxes$384 $568 $2,324 $507 Provision for income tax at federal statutory rate of 21%81 119 488 106 Increase (decrease) in income tax from:State tax, net of federal tax effect(18)7 91 (30)Property-related(68)(62)(126)(117)Other(9)(5)(19)(13)Total income tax (benefit) expense$(14)$59 $434 $(54)Effective tax rate(3.6%)10.4 %18.7%(10.7%)SCE:Income from operations before income taxes$490 $655 $2,579 $677 Provision for income tax at federal statutory rate of 21%103 138 542 142 Increase (decrease) in income tax from:State tax, net of federal tax effect(11)13 106 (18)Property-related(68)(62)(126)(117)Other(10)(6)(20)(8)Total income tax expense (benefit)$14 $83 $502 $(1)Effective tax rate2.9