Company: SCE-PL
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0000827052-25-000100
Chunk: 84

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-10-28
Form: 10-Q
Item: Item 7
Chunk 84
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 Revenue" above). 

Asset Impairment

A charge of $88 million recorded in 2025 related to impairment of utility property, plant and equipment associated with historical capital expenditures disallowed in SCE's 2025 GRC final decision. See "Management Overview—2025 General Rate Case" for further information.

Income Taxes

An increase in income tax expense of $108 million was primarily due to $118 million of higher tax expense on higher pre-tax income, partially offset by $10 million of higher flow-through tax benefits that were passed through to customers (offset the corresponding pre-tax amount in "Operating Revenue"). See "Notes to Condensed Consolidated Financial Statements—Note 8. Income Taxes" for a reconciliation of the federal statutory rate to the effective income tax rate.

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Table of Contents

Nine months ended September 30, 2025 versus September 30, 2024

Nine months endedSeptember 30,Favorable (Unfavorable)(in millions)202520242025 to 2024Operating revenue$14,074 $13,576 $498 Purchased power and fuel3,905 4,140 235 Operation and maintenance3,668 3,913 245 Wildfire-related claims, net of (recoveries)(1,060)614 1,674 Wildfire Insurance Fund expense108 109 1 Depreciation and amortization2,427 2,136 (291)Property and other taxes492 474 (18)Asset impairment96 — (96)Total operating expenses9,636 11,386 1,750 Operating income4,438 2,190 2,248 Interest expense(1,044)(1,185)141 Other income, net347 408 (61)Income before income taxes3,741 1,413 2,328 Income tax expense705 94 (611)Net income3,036 1,319 1,717 Less: Preference stock dividend requirements101 129 28 Net income available to common stock$2,935 $1,190 $1,745 

Operating Revenue

Higher operating revenue of $498 million was primarily due to:

•A net increase in revenue of $661 million resulted from higher authorized revenue in the 2025 GRC final decision, as discussed above.

•An increase in revenue of $51 million related to higher balancing account rate base primarily associated with wildfire mitigation