Company: SCE-PL
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000827052-25-000022
Chunk: 361

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 361
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 are partially offset by $3 million expected FERC recovery, which is recorded in "Operating Revenue" on the consolidated statements of income.New Accounting GuidanceAccounting Guidance AdoptedIn November 2023, the FASB issued an accounting standards update to enhance the disclosures related to public entities' reportable segments. The new guidance requires an entity with only one reportable segment to include all the required segment disclosures. Edison International and SCE each have one reportable segment, and have adopted this guidance for the year ended December 31, 2024. See "Segment Information" above for further information. Accounting Guidance Not Yet AdoptedIn December 2023, the FASB issued an accounting standards update requiring public entities to provide more disclosures primarily related to the income tax rate reconciliation and income taxes paid. The guidance also eliminates certain existing disclosure requirements related to uncertain tax positions and unrecognized deferred tax liabilities. The guidance is effective for annual periods after January 1, 2025 with early adoption permitted. The guidance is applied prospectively. Edison International and SCE are currently evaluating the impact of the new guidance.In November 2024, the FASB issued an accounting standards update requiring public entities to provide disaggregated disclosure of income statement expenses. The guidance does not change the expense captions an entity presents on the face of the income statement, rather, it requires disaggregation of certain expense captions into specified categories in disclosures within the footnotes to the financial statements. The guidance is effective for annual disclosure for the year ended December 31, 2027 and subsequent interim periods with early adoption permitted. The guidance is applied prospectively. Edison International and SCE are currently evaluating the impact of the new guidance.

Note 2. Property, Plant and Equipment

SCE's utility property, plant and equipment included in the consolidated balance sheets is composed of the following:December 31,(in millions)20242023Distribution$37,093 $34,573 Transmission19,189 18,526 Generation4,217 3,593 General plant and other7,046 6,383 Accumulated depreciation(14,207)(12,910)53,338 50,165 Construction work in progress5,585 5,590 Nuclear fuel, at amortized cost124 122 Total utility property, plant and equipment$59,047 $55,877 Capitalized Software CostsSCE capitalizes costs incurred during the application development stage of internal use software projects to property, plant and equipment. SCE amort