Company: SCE-PL
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000827052-25-000043
Chunk: 83

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-04-29
Form: 10-Q
Item: Item 7
Chunk 83
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,318 $193 $1,094 $78 Short-term restricted cash260 40 58 36 Long-term restricted cash3530 451 530 451 Total cash, cash equivalents and restricted cash$1,908 $684 $1,682 $565 1Cash equivalents consist of investments in money market funds. Generally, the carrying value of cash equivalents equals the fair value, as these investments have original maturities of three months or less.2Includes SCE Recovery Funding LLC's restricted cash for payments of senior secured recovery bonds and is reflected in "Other current assets" on Edison International's and SCE's condensed consolidated balance sheets.3The SCE amount represents cash collected for customer-funded wildfire self-insurance and is reflected in "Other long-term assets" on Edison International's and SCE's condensed consolidated balance sheets. See Note 12 for further information.Allowance for Uncollectible AccountsThe allowance for uncollectible accounts is recorded based on SCE's estimate of expected credit losses and adjusted over the life of the receivables as needed. Since the customer base of SCE is concentrated in Southern California which exposes SCE to a homogeneous set of economic conditions, the allowance is measured on a collective basis on the historical amounts written-off, assessment of customer collectibility and current economic trends, including unemployment rates and any likelihood of recession for the region. The increase in the provision of uncollectible accounts and write-offs for the three months ended March 31, 2025, is driven primarily by consumer protection programs.The following table sets forth the changes in allowance for uncollectible accounts for SCE:Three months ended March 31, 2025Three months ended March 31, 2024(in millions)CustomersAll othersTotal2CustomersAll othersTotalBeginning balance$372 $18 $390 $347 $17 $364 Current period provision for uncollectible accounts178 3 81 60 1 61 Write-offs, net of recoveries(128)(3)(131)(60)(2)(62)Ending balance$322 $18 $340 $347 $16 $363 1This includes $66 million and $50 million of incremental costs, for the three months ended March 31, 2025 and 2024, respectively, which were probable of recovery from customers and recorded as regulatory assets.2Approximately $44 million and $43 million of allowance for uncollectible accounts are included in "Other long-term assets"