Company: SCE-PL
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000827052-25-000022
Chunk: 377

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 377
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 $72 million of unrecognized tax benefits would impact Edison International's effective tax rate and $66 million of the unrecognized tax benefits would impact SCE's effective tax rate.Tax DisputesTax years that remain open for examination by the Internal Revenue Service and Franchise Tax Board are 2021 – 2023 and 2013 – 2018 & 2020 - 2023, respectively.Accrued Interest and PenaltiesThe total amount of accrued interest and penalties related to income tax liabilities are:Edison InternationalSCEDecember 31,(in millions)2024202320242023Accrued interest and penalties$— $— $36 $28 The net after-tax interest and penalties recognized in income tax (benefit) expense are:Edison InternationalSCEYears ended December 31,(in millions)202420232022202420232022Net after-tax interest and penalties tax expense$—$—$— $7$4$2 

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Table of Contents

Note 9. Compensation and Benefit Plans

Employee Savings PlanThe 401(k) defined contribution savings plan is designed to supplement employees' retirement income. The employer contributions were as follows:EdisonInternationalSCE(in millions)Years ended December 31,2024$136 $134 2023121 119 2022103 101 Pension Plans and Postretirement Benefits Other Than PensionsPension PlansNoncontributory defined benefit pension plans (some with cash balance features) cover most employees meeting minimum service requirements. Employees hired by the participating companies on or after December 31, 2017 are no longer eligible to participate in the pension plan. In lieu of that, an additional non-contributory employer contribution is deposited into the Edison 401(k) Savings Plan. SCE recognizes pension expense for its nonexecutive plan as calculated by the actuarial method used for ratemaking. The expected contributions (all by the employer) for Edison International and SCE are approximately $44 million and $15 million, respectively, for the year ending December 31, 2025. The majority of annual contributions made by SCE to its pension plans are anticipated to be recovered through CPUC-approved regulatory mechanisms.The funded position of Edison International's pension is sensitive to changes in market conditions. Changes in overall interest rate levels significantly affect the company's liabilities, while assets held in the various trusts established to fund Edison International's pension are affected by movements in the equity and bond markets. Due to SCE's regulatory recovery treatment