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

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 8
Chunk 25
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5December 31, 2024Electricity options, swaps and forwardsGigawatt hours6,9143,295Natural gas options, swaps and forwardsBillion cubic feet104Congestion revenue rightsGigawatt hours4,1198,141Fin Toll arrangementsGigawatt hours240—

Note 7.  RevenueThe following table is a summary of SCE's revenue:Three months endedJune 30,Six months endedJune 30,(in millions)2025202420252024Revenue from contracts with customers1 Commercial$1,874 $1,922 $3,422 $3,401  Residential1,506 1,363 3,085 2,925  Other773 816 1,415 1,545 Total revenue from contracts with customer24,153 4,101 7,922 7,871 Alternative revenue program and other3379 223 412 517 Total operating revenue$4,532 $4,324 $8,334 $8,388 1Since January 1, 2025, and until a GRC decision is issued, SCE is recognizing revenue based on the 2024 authorized revenue requirement, adjusted to reflect the 2025 CPUC-authorized ROE. For further information, see Note 1.2At June 30, 2025 and December 31, 2024, SCE's receivables related to contracts from customers were $2.7 billion and $2.9 billion, respectively, which include accrued unbilled revenue of $925 million and $845 million, respectively.3Includes differences between revenues from contracts with customers and authorized levels for certain CPUC and FERC revenues.Deferred RevenueAs of June 30, 2025, SCE has deferred revenue of $348 million related to the sale of the use of transfer capability of West of Devers transmission line, of which $13 million and $335 million are included in "Other current liabilities" and "Other deferred credits and other long-term liabilities," respectively, on SCE's condensed consolidated balance sheets. The deferred revenue is amortized straight-line over the period of 30 years starting in 2021.

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Note 8.  Income TaxesEffective Tax RateThe table below provides a reconciliation of income tax expense computed at the federal statutory income tax rate to the income tax provision:Three months ended June 30,Six months ended June 30,(in