Company: SCE-PL
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000827052-25-000022
Chunk: 382

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 382
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 plan assetsFair value of plan assets at beginning of year$2,275 $2,187 $2,275 $2,187 Actual return on assets78 162 78 162 Employer contributions1 4 1 4 Plan participants' contributions26 28 26 28 Benefits paid(99)(106)(99)(106)Fair value of plan assets at end of year2,281 2,275 2,281 2,275 Overfunded status at end of year$1,540 $1,502 $1,544 $1,506 Amounts recognized in the consolidated balance sheets consist of:Long-term assets$1,544 $1,506 $1,544 $1,506 Current liabilities(1)— — — Long-term liabilities(3)(4)— — $1,540 $1,502 $1,544 $1,506 Amounts recognized in accumulated other comprehensive loss consist of:Net gain$(4)$(5)$— $— Amounts recognized as a regulatory liability(1,544)(1,505)(1,544)(1,505)Weighted average assumptions used to determine obligations at end of year:Discount rate5.60 %5.06 %5.60 %5.06 %Assumed health care cost trend rates:Rate assumed for following year6.25 %6.50 %6.25 %6.50 %Ultimate rate5.00 %5.00 %5.00 %5.00 %Year ultimate rate reached2029202920292029For both Edison International and SCE, the 2024 actuarial gains are primarily related to $41 million in gains from the change in discount rate. For Edison International and SCE, the 2023 actuarial gains are primarily related to $553 million and $550 million in gains from the change in postretirement medical carrier and retiree medical delivery mechanism effective in 2024, respectively.

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Net periodic PBOP expense components are:Edison InternationalSCEYears ended December 31,(in millions)202420232022202420232022Service cost$14 $20 $34 $14 $20 $34 Non-service cost (benefit)Interest cost38 67 56 38 67 55