Company: SCE-PL
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000827052-25-000022
Chunk: 636

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 636
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 used to determine obligations at end of year:Discount rate5.56%5.04%5.56%5.04%Rate of compensation increase4.00%4.00%4.00%4.00%1The SCE liability excludes a long-term payable due to Edison International Parent of $88 million and $94 million at December 31, 2024 and 2023, respectively, related to certain SCE postretirement benefit obligations transferred to Edison International Parent. For Edison International and SCE, respectively, the 2024 actuarial gains are primarily related to $159 million and $146 million from an increase of 52 basis points in the discount rate (from 5.04% as of December 31, 2023 to 5.56% as of December 31, 2024). For Edison International and SCE, respectively, the 2023 actuarial losses are primarily related to $96 million and $92 million in losses from a decrease of 32 basis points in the discount rate (from 5.36% as of December 31, 2022 to 5.04% as of December 31, 2023).

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Net periodic pension expense components are:Edison InternationalSCEYears ended December 31,(in millions)202420232022202420232022Service cost$103 $101 $120 $101 $99 $118 Non-service cost (benefit)Interest cost175 180 111 162 166 101 Expected return on plan assets(232)(214)(227)(219)(202)(215)Settlement costs— — 4 — — 4 Amortization of prior service cost— — — — — — Amortization of net loss4 3 5 2 2 2 Regulatory adjustment(23)(47)6 (22)(47)6 Total non-service benefit1(76)(78)(101)(77)(81)(102)Total expense$27 $23 $19 $24 $18 $16 1Included in "Other income" on Edison International's and SCE's consolidated income statements. For further details, see Note 16.Other changes in pension plan assets and benefit obligations recognized in other comprehensive income:Edison InternationalSCEYears ended December 31,(in millions)202420232022202420232022Net