Company: SCE-PL
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000827052-25-000022
Chunk: 630

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 630
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 program and other2(848)(745)412 Total operating revenue$17,547 $16,275 $17,172 1At December 31, 2024 and 2023, SCE's receivables related to contracts from customers were $2.9 billion and $2.5 billion, which included accrued unbilled revenue of $845 million and $741 million, respectively.2Includes differences between revenues from contracts with customers and authorized levels for certain CPUC and FERC revenues.Deferred RevenueAs of December 31, 2024, SCE has deferred revenue of $354 million related to the sale of the use of transfer capability of West of Devers transmission line, of which $13 million and $341 million are included in "Other current liabilities" and "Other deferred credits and other long-term liabilities," respectively, on SCE's consolidated balance sheets. The deferred revenue is amortized straight-line over a period of 30 years starting 2021.

Note 8. Income Taxes

Current and Deferred TaxesThe components of income tax expense (benefit) by location of taxing jurisdiction are:Edison InternationalSCEYears ended December 31,(in millions)202420232022202420232022Current:Federal$1 $— $2 $3 $— $— State7 — 13 48 5 2 8 — 15 51 5 2 Deferred:Federal59 101 (103)118 149 (44)State(50)7 (74)(49)30 (67)9 108 (177)69 179 (111)Total$17 $108 $(162)$120 $184 $(109)

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Table of Contents

The components of net accumulated deferred income tax liability are:Edison InternationalSCEDecember 31,(in millions)2024202320242023Deferred tax assets:Property$943 $894 $929 $877 Wildfire-related1254 356 251 354 Nuclear decommissioning trust assets in excess of nuclear ARO liability373 380 373 380 Loss and credit carryforwards23,703 3,486 2,242 2,103 Regulatory balances610 626 610 626 Pension and postretirement benefits other than pensions, net117 127 21 25 Leases335 345 335 345 Other177