Company: SCE-PL
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000827052-25-000043
Chunk: 71

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-04-29
Form: 10-Q
Item: Item 7
Chunk 71
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2024.

13

Three months ended March 31,Change(in millions)20252024Inflow/(Outflow)Net income$1,601 $106 Non-cash items11,218 619 Subtotal2,819 725 2,094 Changes in cash flow resulting from working capital244 (286)330 Regulatory assets and liabilities(1,443)250 (1,693)Wildfire-related claims3(143)419 (562)Other noncurrent assets and liabilities4(23)(22)(1)Net cash provided by operating activities$1,254 $1,086 $168 

1Non-cash items include depreciation and amortization, equity allowance for funds used during construction, impairment, deferred income taxes, Wildfire Insurance Fund amortization expenses and other.

2Changes in working capital items include receivables, inventory, accounts payable, tax receivables and payables, derivative assets and liabilities and other current assets and liabilities.

3The amount in 2025 represents payments of $99 million for 2017/2018 Wildfire/Mudslide Events and $65 million for Other Wildfire Events, partially offset by an increase in wildfire estimated losses of $21 million. The amount in 2024 is primarily related to an increase in wildfire estimated losses of $670 million, partially offset by payments of $174 million for 2017/2018 Wildfire/Mudslide Events and $77 million for Other Wildfire Events.

4Includes nuclear decommissioning trusts. See "Nuclear Decommissioning Activities" below for further information.

Net cash provided by operating activities was impacted by the following:

Net income and non-cash items increased by $2.1 billion primarily due to net earnings recorded in 2025 from approximately $1.6 billion cost recoveries authorized under the TKM Settlement Agreement (which offset in the regulatory assets and liabilities changes discussed below), and net charges recorded in 2024 related to 2017/2018 Wildfire/Mudslide Events claims and related legal expense, net of expected regulatory recoveries.

The net inflow (outflow) in cash resulting from working capital was $44 million and $(286) million during the three months ended March 31, 2025 and 2024, respectively. Net cash inflow of $44 million for 2025 was mainly driven by cash collected from power procurement related receivables and net decreases in customer receivables and unbilled revenue, partially