Company: SCE-PL
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000827052-25-000022
Chunk: 36

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-02-27
Form: 10-K
Item: Item 7
Chunk 36
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 subject to CAMT on its stand-alone Federal return beginning in 2026.

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Table of Contents

The law also includes significant extensions, expansions, and enhancements of numerous energy-related investment tax credits, as well as creating new credits applicable to electricity production which may apply to SCE's capital expenditures. Under the IRA, as of December 31, 2024, SCE generated investment tax credits of approximately $231 million related to two utility owned storage projects, which will be recognized and returned to customers, as the credits are utilized. 

Historical Cash Flows

SCE

Years ended December 31,(in millions)202420232022Net cash provided by operating activities$5,383 $3,681 $3,319 Net cash provided by financing activities314 1,182 2,724 Net cash used in investing activities(5,530)(5,231)(5,557)Net increase (decrease) in cash, cash equivalents and restricted cash$167 $(368)$486 

Net Cash Provided by Operating Activities

The following table summarizes major categories of net cash provided by operating activities as provided in more detail in SCE's consolidated statements of cash flows for 2024, 2023, and 2022:

Years ended December 31,Change(in millions)2024202320222024/2023Net income$1,794 $1,597 $954 Non-cash items13,013 2,979 2,701 Subtotal4,807 4,576 3,655 $231 Contributions to Wildfire Insurance Fund(95)(95)(95)— Changes in cash flow resulting from working capital2(221)(762)327 541 Regulatory assets and liabilities1,219 576 (51)643 Wildfire related claims3(397)(410)(56)13 Other noncurrent assets and liabilities470 (204)(461)274 Net cash provided by operating activities$5,383 $3,681 $3,319 $1,702 

1Non-cash items include depreciation and amortization, allowance for equity during construction, impairment and other income, Wildfire Insurance Fund amortization expense, deferred income taxes, and other.

2Changes in working capital items include receivables, accrued unbilled revenue, inventory, amortization of prepaid expenses, accounts payable, tax receivables and payables, derivative assets and liabilities, and other current assets and liabilities.