Company: SCE-PL
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000827052-25-000022
Chunk: 247

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-02-27
Form: 10-K
Item: Item 1A
Chunk 247
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Deferred tax assets:Property$943 $894 $929 $877 Wildfire-related1254 356 251 354 Nuclear decommissioning trust assets in excess of nuclear ARO liability373 380 373 380 Loss and credit carryforwards23,703 3,486 2,242 2,103 Regulatory balances610 626 610 626 Pension and postretirement benefits other than pensions, net117 127 21 25 Leases335 345 335 345 Other177 159 167 147 Sub-total6,512 6,373 4,928 4,857 Less: valuation allowance317 17 — — Total6,495 6,356 4,928 4,857 Deferred tax liabilities:Property11,220 10,627 11,202 10,611 Regulatory balances1,299 1,450 1,299 1,450 Nuclear decommissioning trust assets373 380 373 380 Leases335 345 335 345 Other187 187 155 158 Total13,414 12,989 13,364 12,944 Accumulated deferred income tax liability, net4$6,919 $6,633 $8,436 $8,087 1Relates to estimated losses accrual for wildfire-related claims, net of expected recoveries from insurance and FERC customers, and contributions to the Wildfire Insurance Fund. For further information, see Note 12 and Note 1.2As of December 31, 2024, unrecognized tax benefits of $397 million and $327 million for Edison International and SCE, respectively, are presented net against the deferred tax asset for the loss and tax credit carryforwards. As of December 31, 2023, the unrecognized tax benefits netted against deferred tax assets and tax credit carryforwards were $363 million and $299 million for Edison International and SCE, respectively.3As of December 31, 2024 and 2023, Edison International has recorded $17 million valuation allowance on deferred tax assets. The $17 million valuation allowance is related to non-California state net operating loss carryforwards which are expected to expire before being utilized. 4Included in "Deferred income taxes and credits" on the consolidated balance sheets.

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Net Operating Loss