Company: SCE-PL
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000827052-25-000022
Chunk: 132

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-02-27
Form: 10-K
Item: Item 7
Chunk 132
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umed health care cost trend rates:Rate assumed for following year6.25 %6.50 %6.25 %6.50 %Ultimate rate5.00 %5.00 %5.00 %5.00 %Year ultimate rate reached2029202920292029For both Edison International and SCE, the 2024 actuarial gains are primarily related to $41 million in gains from the change in discount rate. For Edison International and SCE, the 2023 actuarial gains are primarily related to $553 million and $550 million in gains from the change in postretirement medical carrier and retiree medical delivery mechanism effective in 2024, respectively.

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Net periodic PBOP expense components are:Edison InternationalSCEYears ended December 31,(in millions)202420232022202420232022Service cost$14 $20 $34 $14 $20 $34 Non-service cost (benefit)Interest cost38 67 56 38 67 55 Expected return on plan assets(113)(107)(97)(113)(107)(97)Amortization of prior service cost(1)(1)(2)(1)(1)(2)Amortization of net gain(95)(50)(45)(95)(50)(45)Regulatory adjustment157 71 55 157 71 55 Total non-service benefit1(14)(20)(33)(14)(20)(34)Total expense$— $— $1 $— $— $— 1Included in "Other income" on Edison International's and SCE's consolidated income statements. For further details, see Note 16.In accordance with authoritative guidance on rate-regulated enterprises, SCE records amortization of net gains and losses to regulatory assets and liabilities instead of charges and credits to other comprehensive income (loss) 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 PBOP expense:Years ended December 31,202420232022Discount rate5.06%5.43%2.95%Expected long-term return on plan assets4.88%5.00%3.50%Assumed health care cost trend rates:Current year6.50%6.75%6.25%Ultimate rate5.00%5.00%5.00%Year