Company: SCE-PL
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000827052-25-000043
Chunk: 93

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-04-29
Form: 10-Q
Item: Item 7
Chunk 93
---
 (47)— Net assets$2,734 $1,633 $212 $46 $4,625 1Represents the netting of assets and liabilities under master netting agreements and cash collateral.2Approximately 73% and 75% of SCE's equity investments were in companies located in the United States at March 31, 2025 and December 31, 2024, respectively.3Includes corporate bonds, which were diversified by the inclusion of collateralized mortgage obligations and other asset backed securities, of $65 million and $94 million at March 31, 2025 and December 31, 2024, respectively.4Excludes net payables of $137 million and $105 million at March 31, 2025 and December 31, 2024, respectively, which consist of interest and dividend receivables as well as receivables and payables related to SCE's pending securities sales and purchases.

34

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:Three months ended March 31,(in millions)20252024Fair value of net assets at beginning of period$212 $91 Settlements(10)— Total realized/unrealized losses, net of gains1(46)(11)Fair value of net assets at end of period$156 $80 1Due to regulatory mechanisms, SCE's realized and unrealized gains and losses are recorded as regulatory assets and liabilities.There were no material transfers into or out of Level 3 during 2025 and 2024.The following table sets forth the significant unobservable inputs used to determine fair value for Level 3 CRR assets and liabilities:Fair Value(in millions)SignificantUnobservableInputRange($ per MWh)WeightedAverage($ per MWh)AssetsLiabilitiesMarch 31, 2025$156 $— CAISO CRR auction prices($7.39) - $50,048.16$28.09 December 31, 2024212 — CAISO CRR auction prices(4.64) - 50,048.1627.20 Level 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,