Company: SCE-PL
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000827052-25-000074
Chunk: 56

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 7
Chunk 56
---
Table of Contents

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT OVERVIEW

Highlights of Operating Results

Edison International is the ultimate parent holding company of SCE and Edison Energy, LLC, doing business as Trio. SCE is an investor-owned public utility primarily engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area across Southern, Central and Coastal California. Trio is a global energy advisory firm providing integrated sustainability and energy solutions to commercial, industrial and institutional customers. Trio's business activities are currently not material to report as a separate business segment.

Edison International's earnings are prepared in accordance with GAAP. Management uses core earnings (loss) internally for financial planning and for analysis of performance. Core earnings (loss) are also used when communicating with investors and analysts regarding Edison International's earnings results to facilitate comparisons of the company's performance from period to period. Core earnings (loss) are a non-GAAP financial measure and may not be comparable to those of other companies. Core earnings (loss) are defined as earnings available to Edison International shareholders less non-core items. Non-core items include income or loss from discontinued operations and income or loss from significant discrete items that management does not consider representative of ongoing earnings, such as write downs, asset impairments and other income and expense related to changes in law, outcomes in tax, regulatory or legal proceedings, and exit activities, including sale of certain assets and other activities that are no longer continuing.

Three Months EndedJune 30,Six Months EndedJune 30,(in millions)20252024Change20252024ChangeNet income (loss) available to Edison InternationalSCE$443 $523 $(80)$2,010 $588 $1,422 Edison International Parent and Other(100)(84)(16)(231)(160)(71)Edison International343 439 (96)1,779 428 1,351 Less: Non-core itemsSCE2017/2018 Wildfire/Mudslide Events (claims and expenses), net of recoveries(2)(11)9 1,337 (478)1,815 Other Wildfire Events (claims and expenses), net of recoveries(6)(2)(4)6 (121)127 Wildfire Insurance Fund expense(36)(37)1 (72)(73)1 Income tax benefit (expense)113 14 (1)(355)188 (