Company: SCE-PL
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000827052-25-000022
Chunk: 1

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-02-27
Form: 10-K
Item: Item 7
Chunk 1
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284 1,197 87 612 Less: Non-core itemsSCE2017/2018 Wildfire/Mudslide Events claims and expenses, net of recoveries(493)(634)141 (1,248)Other Wildfire Events claims and expenses, net of recoveries1(162)(34)(128)—Wildfire Insurance Fund expense(146)(213)67 (214)Severance costs, net of recovery(50)— (50)— 2021 NDCTP disallowance— (30)30 — Customer cancellations of certain ECS data services— (17)17 — Employment litigation matter, net of recoveries— 10 (10)(23)Upstream lighting program decision— — — (81)Impairments— — — (64)Organizational realignment charge— — — (14)Sale of San Onofre nuclear fuel— — — 10 Income tax benefit2238 257 (19)452 SCE non-core items(613)(661)48 (1,182)Edison International Parent and OtherCustomer revenues for EIS insurance contract, net of (claims)(4)42 (46)36 Income tax expense (benefit)21 (9)10 (7)Edison International Parent and Other non-core items(3)33 (36)29 Total non-core items(616)(628)12 (1,153)Core earnings (loss)SCE2,232 2,135 97 2,029 Edison International Parent and Other(332)(310)(22)(264)Edison International$1,900 $1,825 $75 $1,765 

1Charges of $4 million and $6 million related to claims from wildfires ignited prior to July 1, 2023 were included in core earnings in 2023 and 2022, respectively. Core earnings in periods before the third quarter of 2023 have not been recast to exclude these charges.

2SCE and Edison International Parent and Other non-core items are tax-effected at an estimated statutory rate of approximately 28%; customer revenues (claims) for EIS insurance contract are tax-effected at the federal statutory rate of 21%.

Edison International's 2024 earnings increased $87 million, driven by an increase in SCE's earnings of $145