Company: SCE-PL
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000827052-25-000074
Chunk: 41

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 8
Chunk 41
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)$(10)$(976)Six months ended June 30, 2024(in millions)2017/2018 Wildfire/Mudslide EventsOther Wildfire EventsTotalWildfire-related claims$490 $180 $670 Expected recoveries from insurance and third parties2— (56)(56)Expected revenue from FERC customers(27)(7)(34)Total pre-tax charge463 117 580 Income tax benefit(130)(33)(163)Total after-tax charge$333 $84 $417 1For the six months ended June 30, 2025, EIS, a wholly-owned subsidiary of Edison International, incurred $50 million insurance expense, which consisted of $47 million of wildfire claims and $3 million of related legal costs. Wildfire claims were included in the insurance recoveries of SCE, offset by reduction in expected recovery from CPUC and FERC customers, and was excluded from insurance recoveries of Edison International.2For the six months ended June 30, 2024, EIS incurred $1 million insurance expense. This amount was included in the insurance recoveries of SCE but were excluded from those of Edison International.In total, through June 30, 2025, SCE has recorded estimated losses of $11.1 billion, expected recoveries from insurance and third parties of $2.8 billion and expected recoveries through electric rates of $1.9 billion related to the 2017/2018 Wildfire/Mudslide Events and the Other Wildfire Events. The after-tax net charges to earnings recorded through June 30, 2025, have been $4.6 billion. Recoveries SCE has exhausted expected insurance recoveries related to the 2017/2018 Wildfire/Mudslide Events. Expected recoveries from insurance recorded for the Other Wildfire Events are supported by SCE's insurance coverage for multiple policy years. Edison International and SCE record a receivable for insurance recoveries when recovery of a recorded loss is determined to be probable.Recovery of SCE's losses realized in connection with the Woolsey Fire and the Other Wildfire Events in excess of available insurance is subject to approval by regulators. The CPUC and FERC may not allow SCE to recover uninsured losses through electric rates, including by requiring refund of amounts recovered, if it is determined that such losses were not prudently incurred. Under accounting standards for rate-regulated enterprises, SCE defers costs as regulatory assets in