Company: SCE-PL
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000827052-25-000074
Chunk: 28

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 8
Chunk 28
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860 Government and agency securities20741,086 1,201 1,263 1,341 Corporate bonds2072322 346 380 392 Short-term investments and receivables/(payables)1One-year195 152 39 62 Total debt securities and other$2,373 $2,428 2,603 2,655 Equity securities1,721 1,631 Total2$4,324 $4,286 1As of June 30, 2025 and December 31, 2024, short-term investments included $120 million and $18 million of repurchase agreement payable by financial institutions which earned interest, were fully secured by U.S. Treasury securities, and mature by July 2, 2025 and January 2, 2025, respectively.2Represents amounts before reduction for deferred tax liabilities on net unrealized gains of $398 million and $373 million as of June 30, 2025 and December 31, 2024, respectively.Trust fund earnings (based on specific identification) increase the trust fund balance and the ARO regulatory liability. Unrealized holding gains, net of losses, were $1.8 billion and $1.7 billion at June 30, 2025 and December 31, 2024, respectively.The following table summarizes the gains and losses for the trust investments:Three months ended June 30,Six months ended June 30,(in millions)2025202420252024Gross realized gains$22 $47 $46 $102 Gross realized losses(5)(5)(6)(14)Net unrealized gains/(losses) for equity securities146 (10)86 85 Due to regulatory mechanisms, changes in the assets of the trusts from income or loss items do not materially affect earnings.

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Note 11. Regulatory Assets and Liabilities

Regulatory AssetsSCE's regulatory assets included on the condensed consolidated balance sheets are:(in millions)June 30,2025December 31,2024Current:Regulatory balancing and memorandum accounts$2,770 $2,723 Other35 25 Total current2,805 2,748 Long-term:Deferred income taxes6,238 5,982 Unamortized investments, net of accumulated amortization120 115 Unamortized losses on reacquired debt83 88 Regulatory balancing and memorandum