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

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-04-29
Form: 10-Q
Item: Part I, Item 8
Chunk 10
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,435 $(11)Weighted average common shares outstanding385 385 Basic earnings (loss) per share$3.73 $(0.03)Diluted earnings per share:Net income (loss) available to common shareholders$1,435 $(11)Income impact of assumed conversions1 — Net income (loss) available to common shareholders and assumed conversions$1,436 $(11)Weighted average common shares outstanding385 385 Incremental shares from assumed conversions11 — Adjusted weighted average shares – diluted386 385 Diluted earnings (loss) per share$3.72 $(0.03)1Due to the loss reported for the quarter ended March 31, 2024, incremental shares were not included as the effect would be antidilutive.In addition to the participating securities discussed above, Edison International also may award stock options, which are payable in common shares and are included in the diluted earnings per share calculation. Stock option awards to purchase 8,203,681 and 4,202,791 shares of common stock for the three months ended March 31, 2025 and 2024, respectively, were outstanding, but were not included in the computation of diluted earnings per share because the effect would have been antidilutive.Revenue RecognitionRevenue is recognized by Edison International and SCE when a performance obligation to transfer control of the promised goods is satisfied or when services are rendered to customers. This typically occurs when electricity is delivered to customers, which includes amounts for services rendered but unbilled at the end of a reporting period.Regulatory Proceedings2025 General Rate CaseAs discussed in the 2024 Form 10-K, SCE requested a revenue requirement of approximately $10.3 billion for the test year 2025 in the 2025 GRC. This represents a $1.9 billion, or 23%, increase over the 2024 revenue requirement of approximately $8.4 billion, which was adopted in Track 4 and prior to certain subsequent adjustments. This test year 2025 revenue requirement was subsequently updated to $10.4 billion, reflecting 2025 CPUC-authorized ROE and additional amendments and other revisions to rebuttal testimony. Since January 1, 2025, and until a GRC decision is issued, SCE is recognizing revenue based on the 2024 authorized revenue requirement, adjusted to reflect the 2025 CPUC-authorized ROE. The CPUC has also approved the establishment of a memorandum account