Company: SCE-PL
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000827052-25-000022
Chunk: 332

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 332
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 assets and liabilities. 

Addressing the matter involved performing procedures and evaluating audit evidence in connection with forming our overall opinion on the consolidated financial statements. These procedures included testing the effectiveness of controls relating to the Company's regulatory accounting process, including controls over management’s assessment of the recoverability and settlement of existing and new regulatory assets and liabilities. These procedures also included, among 

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others (i) obtaining and evaluating the Company's correspondence with regulators; (ii) evaluating management's assessment regarding the probability of recovery of regulatory assets and settlement of regulatory liabilities at the balance sheet date; (iii) evaluating the appropriateness of the accounting for the effects of the rate regulation; (iv) evaluating the sufficiency of the disclosure; and (v) testing, on a sample basis, the calculation of regulatory assets and regulatory liabilities based on provisions outlined in the rate orders. 

/s/PricewaterhouseCoopers LLP

Los Angeles, California

February 27, 2025

We have served as the Company’s auditor since 2002. 

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CONSOLIDATED FINANCIAL STATEMENTS

Consolidated Statements of IncomeEdison International

Years ended December 31,(in millions, except per-share amounts)202420232022Operating revenue$17,599 $16,338 $17,220 Purchased power and fuel5,209 5,486 6,375 Operation and maintenance5,172 4,138 4,724 Wildfire-related claims, net of insurance recoveries652 667 1,313 Wildfire Insurance Fund expense146 213 214 Depreciation and amortization2,866 2,635 2,561 Property and other taxes624 571 501 Impairment, net of other operating income— 1 49 Total operating expenses14,669 13,711 15,737 Operating income2,930 2,627 1,483 Interest expense(1,869)(1,612)(1,169)Other income, net502 500 348 Income before income taxes1,563 1,515 662 Income tax expense (benefit)17 108 (162)Net income1,546 1,407 824 Less: Preference stock dividend requirements of SCE175 123 107 Preferred stock dividend requirements of Edison International87 87 105 Net income available to Edison International common shareholders1,284