Company: SCE-PL
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000827052-25-000022
Chunk: 17

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-02-27
Form: 10-K
Item: Item 7
Chunk 17
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 table below shows SCE's consolidated statements of income for 2024, 2023 and 2022. In general, expenses SCE is authorized to pass through directly to customers (such as purchased power and fuel expenses, flow-through taxes, as well as costs incurred for various programs and activities, such as public purpose programs and vegetation management activities) and the corresponding amount of revenues collected to recover those pass-through costs do not impact net income. 

11

Table of Contents

Years ended December 31, 2024, 2023 and 2022

The following table is a summary of SCE's results of operations for the periods indicated:

Years ended December 31,Favorable (Unfavorable)(in millions)2024202320222024 to 20232023 to 2022Operating revenue$17,547 $16,275 $17,172 $1,272 $(897)Purchased power and fuel5,209 5,486 6,375 277 889 Operation and maintenance5,064 4,071 4,659 (993)588 Wildfire-related claims, net of insurance recoveries647 665 1,305 18 640 Wildfire Insurance Fund expense146 213 214 67 1 Depreciation and amortization2,865 2,633 2,559 (232)(74)Property and other taxes620 566 497 (54)(69)Impairment, net of other operating income— 1 50 1 49 Total operating expenses14,551 13,635 15,659 (916)2,024 Operating income2,996 2,640 1,513 356 1,127 Interest expense(1,575)(1,356)(1,005)(219)(351)Other income, net493 497 337 (4)160 Income before income taxes1,914 1,781 845 133 936 Income tax expense (benefit)120 184 (109)64 (293)Net income1,794 1,597 954 197 643 Less: Preference stock dividend requirements175 123 107 (52)(16)Net income available for common stock$1,619 $1,474 $847 $145 $627 

2024 vs 2023

Operating Revenue

Higher operating revenue of $1,272 million