Company: SCE-PL
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0000827052-25-000100
Chunk: 133

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-10-28
Form: 10-Q
Item: Item 7
Chunk 133
---
286 1As of September 30, 2025 and December 31, 2024, short-term investments included $11 million and $18 million of repurchase agreement payable by financial institutions which earned interest, were fully secured by U.S. Treasury securities, and mature by October 1, 2025 and January 2, 2025, respectively.2Represents amounts before reduction for deferred tax liabilities on net unrealized gains of $436 million and $373 million as of September 30, 2025 and December 31, 2024, respectively.Trust fund earnings (based on specific identification) increase the trust fund balance and the ARO regulatory liability. Unrealized holding gains, net of losses, were $1.9 billion and $1.7 billion at September 30, 2025 and December 31, 2024, respectively.The following table summarizes the gains and losses for the trust investments:Three months ended September 30,Nine months ended September 30,(in millions)2025202420252024Gross realized gains$36 $84 $82 $186 Gross realized losses(8)(8)(14)(22)Net unrealized gains for equity securities104 31 190 116 Due to regulatory mechanisms, changes in the assets of the trusts from income or loss items do not materially affect earnings.

53

Table of Contents

Note 11. Regulatory Assets and Liabilities

Regulatory AssetsSCE's regulatory assets included on the condensed consolidated balance sheets are:(in millions)September 30,2025December 31,2024Current:Regulatory balancing and memorandum accounts$2,669 $2,723 Other34 25 Total current2,703 2,748 Long-term:Deferred income taxes6,376 5,982 Unamortized investments, net of accumulated amortization124 115 Unamortized losses on reacquired debt81 88 Regulatory balancing and memorandum accounts2,274 867 Environmental remediation217 222 Recovery assets1,476 1,512 Other138 100 Total long-term10,686 8,886 Total regulatory assets$13,389 $11,634 For more information, see Note 11 of the 2024 Form 10-K.Regulatory LiabilitiesSCE's regulatory liabilities included on the condensed consolidated balance sheets are:(in millions)September 30,2025December 31,