Company: SCE-PL
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000827052-25-000022
Chunk: 235

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-02-27
Form: 10-K
Item: Item 1A
Chunk 235
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18,526 Generation4,217 3,593 General plant and other7,046 6,383 Accumulated depreciation(14,207)(12,910)53,338 50,165 Construction work in progress5,585 5,590 Nuclear fuel, at amortized cost124 122 Total utility property, plant and equipment$59,047 $55,877 Capitalized Software CostsSCE capitalizes costs incurred during the application development stage of internal use software projects to property, plant and equipment. SCE amortizes capitalized software costs ratably over their useful lives, primarily 5 and 7 year lives, commencing upon operational use. Capitalized software costs, included in general plant and other above, was $2.5 billion and $2.1 billion at December 31, 2024 and 2023, respectively, and accumulated amortization was $1.1 billion and $0.9 billion, at December 31, 2024 and 2023, respectively. Amortization expense for capitalized software was $416 million, $358 million, and $344 million in 2024, 2023, and 2022, respectively. At December 31, 2024, amortization expense is estimated to be $428 million, $371 million, $288 million, $186 million, and $72 million for 2025 through 2029, respectively.

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Table of Contents

Jointly Owned Utility ProjectsSCE owns undivided interests in transmission and generating assets for which each participant provides its own financing. SCE's proportionate share of these assets is reflected in the consolidated balance sheets and included in the above table. SCE's proportionate share of expenses for each project is reflected in the consolidated statements of income.The following is SCE's investment in each asset as of December 31, 2024:(in millions)Plant inServiceConstructionWork inProgressAccumulatedDepreciationNuclear Fuel(at amortized cost)TotalOwnershipInterestTransmission systems:Eldorado$448 $40 $(71)$— $417 71 %Pacific Intertie356 8 (121)— 243 50 %Generating station:Palo Verde (nuclear)2,249 62 (1,694)124 741 16 %Total$3,053 $110 $(1,886)$124 $1,401 In addition to the jointly owned