Company: SCE-PL
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000827052-25-000022
Chunk: 21

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-02-27
Form: 10-K
Item: Item 7
Chunk 21
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 costs and $19 million in fines

•$40 million lower uncollectible accounts expense due to expense recognized in 2022 not subject to cost recovery

•The 2023 recognition of a $30 million probable disallowance related to the 2021 NDCTP

Wildfire-related Claims, Net of Insurance Recoveries

Charges for wildfire-related claims, net of insurance recoveries, were $665 million and $1.3 billion in 2023 and 2022, respectively, related to the 2017/2018 Wildfire/Mudslide Events and Other Wildfire Events. 

Depreciation and Amortization

An increase in depreciation and amortization expense of $74 million due to an increase of $57 million primarily driven by higher plant balances and $17 million of pass-through costs (offset in "Operating Revenue" above). 

Property and Other Taxes

An increase in property and other taxes of $69 million due to an increase of $31 million primarily related to higher assessed property values and $38 million of pass-through costs (offset in "Operating Revenue" above). 

Impairment, net of other operating income

Impairments were recorded in 2022, of which $17 million related to disallowed capital expenditure and $47 million related to a settlement agreement between SCE and TURN in the CSRP proceeding.

Interest Expense

An increase in interest expense of $351 million due to an increase of $312 million primarily related to higher interest rates on long-term debt and balancing account overcollections and additional long-term borrowings, and $39 million of pass-through costs primarily related to AB 1054 Excluded Capital Expenditures financed through securitization (offset in "Operating Revenue" above).

Other income, net

An increase in other income, net of $160 million primarily due to higher interest rates applied to balancing account undercollections and increased equity allowance for funds used during construction, partially offset by lower net periodic benefit income related to the non-service cost components for SCE's pension and PBOP. 

Preference Stock Dividend Requirements

An increase in preference stock dividend requirements of $16 million primarily due to dividends paid on Series E preference stock at a higher rate.

Income Taxes

An increase in tax expense of $293 million in 2023 compared to a tax benefit recorded in 2022, primarily due to higher taxable income and $42 million lower flow-through tax benefits that are passed through to customers. 

Edison International Parent and Other

Results of operations for Edison International Parent and