Company: SCE-PL
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000827052-25-000022
Chunk: 253

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-02-27
Form: 10-K
Item: Item 1A
Chunk 253
---
(23)(47)6 (22)(47)6 Total non-service benefit1(76)(78)(101)(77)(81)(102)Total expense$27 $23 $19 $24 $18 $16 1Included in "Other income" on Edison International's and SCE's consolidated income statements. For further details, see Note 16.Other changes in pension plan assets and benefit obligations recognized in other comprehensive income:Edison InternationalSCEYears ended December 31,(in millions)202420232022202420232022Net (gain) loss$(9)$6 $(45)$(2)$6 $(24)Settlement charges— — (4)— — (4)Amortization of net gain(4)(2)(8)(2)(2)(5)Total (gain) loss recognized in other comprehensive income(13)4 (57)(4)4 (33)Total recognized in expense and other comprehensive income$14 $27 $(38)$20 $22 $(17)In accordance with authoritative guidance on rate-regulated enterprises, SCE records amortization of net gains and losses into regulatory assets and liabilities instead of charges and credits to other comprehensive income for the portion of SCE's postretirement benefit plans that are recoverable in utility rates.Edison International and SCE used the following weighted average assumptions to determine pension expense:Years ended December 31,202420232022Discount rate5.04 %5.36 %2.75 %Rate of compensation increase4.00 %4.00 %4.00 %Expected long-term return on plan assets6.75 %6.50 %5.50 %Interest crediting rate for cash balance account1:Starting rate5.54 %5.86 %3.12 %Ultimate rate5.54 %5.86 %4.50 %Year ultimate rate is reached2024202320261Edison International and SCE were using a graduated assumption for interest crediting rate for cash balance account, where current interest rate gradually increased to an ultimate rate at a certain year. Starting 2023, Edison International and SCE changed to use single interest crediting rate assumption to determine the pension expense for cash balance account.

85

Table of Contents

The following benefit payments, which reflect service rendered and expected future service, are expected to be paid:(in millions)EdisonInternationalSCE2025$