Company: SCE-PL
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000827052-25-000022
Chunk: 171

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-02-27
Form: 10-K
Item: Item 7
Chunk 171
---
 recognition of the lease expense conforms to ratemaking treatment for SCE's recovery of the cost of electricity and is included in purchased power for PPA operating leases. The following table summarizes the components of SCE's lease expense:Years ended December 31,(in millions)202420232022PPA leases:Operating lease cost$115 $503 $580 Variable lease cost11,700 2,277 2,661 Total PPA lease cost1,815 2,780 3,241 Other operating leases cost64 56 52 Total lease cost$1,879 $2,836 $3,293 1Includes lease costs from legacy renewable energy contracts where payments are based on contingent external factors such as wind, hydro and solar power generation.

112

Table of Contents

Other information related to leases was as follows:Years ended December 31,(in millions, except lease term and discount rate)202420232022Cash paid for amounts included in the measurement of lease liabilities:Operating cash flows from:PPA operating leases$115 $503 $580 Other operating leases62 55 50 ROU assets obtained in exchange for lease obligations:PPA operating leases$11 $226 $20 Other operating leases79 69 76 Weighted average remaining lease term (in years):PPA operating leases12.5013.379.42Other operating leases8.869.5610.38Weighted average discount rate:PPA operating leases4.30%4.30%2.95%Other operating leases4.50%4.22%3.78%Leases as LessorSCE also enters into operating leases to rent certain land and facilities as a lessor. These leases primarily have terms that range from 15 to 65 years. During the years ended December 31, 2024, 2023 and 2022, SCE recognized lease income of $18 million, $17 million and $18 million, respectively, which is included in operating revenue on the consolidated statements of income. At December 31, 2024, the undiscounted cash flow expected to be received from lease payments for the remaining years is as follows:(in millions)2025$12 20268 20278 20288 20297 Thereafter118 Total$161 

Note 14. Equity

Common StockStock Repurchase ProgramsOn December 12, 2024, the Edison International Board of Directors