Company: SCE-PL
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0000827052-25-000100
Chunk: 32

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-10-28
Form: 10-Q
Item: Part I, Item 8
Chunk 32
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 December 31, 2024, respectively.Trust fund earnings (based on specific identification) increase the trust fund balance and the ARO regulatory liability. Unrealized holding gains, net of losses, were $1.9 billion and $1.7 billion at September 30, 2025 and December 31, 2024, respectively.The following table summarizes the gains and losses for the trust investments:Three months ended September 30,Nine months ended September 30,(in millions)2025202420252024Gross realized gains$36 $84 $82 $186 Gross realized losses(8)(8)(14)(22)Net unrealized gains for equity securities104 31 190 116 Due to regulatory mechanisms, changes in the assets of the trusts from income or loss items do not materially affect earnings.

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Table of Contents

Note 11. Regulatory Assets and Liabilities

Regulatory AssetsSCE's regulatory assets included on the condensed consolidated balance sheets are:(in millions)September 30,2025December 31,2024Current:Regulatory balancing and memorandum accounts$2,669 $2,723 Other34 25 Total current2,703 2,748 Long-term:Deferred income taxes6,376 5,982 Unamortized investments, net of accumulated amortization124 115 Unamortized losses on reacquired debt81 88 Regulatory balancing and memorandum accounts2,274 867 Environmental remediation217 222 Recovery assets1,476 1,512 Other138 100 Total long-term10,686 8,886 Total regulatory assets$13,389 $11,634 For more information, see Note 11 of the 2024 Form 10-K.Regulatory LiabilitiesSCE's regulatory liabilities included on the condensed consolidated balance sheets are:(in millions)September 30,2025December 31,2024Current:Regulatory balancing and memorandum accounts$1,017 $1,144 Energy derivatives54 165 Other38 38 Total current1,109 1,347 Long-term:Costs of removal2,693 2,520 Deferred income taxes2,143 2,163 Recoveries in excess of ARO liabilities1,982 1,748 Regulatory balancing and memorandum accounts2,175 2,023 Pension and other postretirement benefits1,