Company: SCE-PL
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0000827052-25-000100
Chunk: 29

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-10-28
Form: 10-Q
Item: Part I, Item 8
Chunk 29
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, SCE's receivables related to contracts from customers were $3.2 billion and $2.9 billion, respectively, which include accrued unbilled revenue of $1.2 billion and $845 million, respectively.3Includes differences between revenues from contracts with customers and authorized levels for certain CPUC and FERC revenues.Deferred RevenueAs of September 30, 2025, SCE has deferred revenue of $344 million related to the sale of the use of transfer capability of West of Devers transmission line, of which $13 million and $331 million are included in "Other current liabilities" and "Other deferred credits and other long-term liabilities," respectively, on SCE's condensed consolidated balance sheets. The deferred revenue is amortized straight-line over the period of 30 years starting in 2021.

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Note 8.  Income Taxes

Effective Tax RateThe table below provides a reconciliation of income tax expense computed at the federal statutory income tax rate to the income tax provision:Three months ended September 30,Nine months ended September 30,(in millions)2025202420252024Edison International:Income from operations before income taxes$1,063 $645 $3,387 $1,152 Provision for income tax at federal statutory rate of 21%223 136 711 242 Increase (decrease) in income tax from:State tax, net of federal tax effect43 12 134 (18)Property-related(72)(78)(198)(195)Other(19)(2)(38)(15)Total income tax expense$175 $68 $609 $14 Effective tax rate16.5%10.5%18.0%1.2%SCE:Income from operations before income taxes$1,162 $736 $3,741 $1,413 Provision for income tax at federal statutory rate of 21%244 155 786 297 Increase (decrease) in income tax from:State tax, net of federal tax effect50 18 156 — Property-related(72)(78)(198)(195)Other(19)— (39)(8)Total income tax expense$203 $95 $705 $94 Effective tax rate17.5%12.9%18.8%6.7%The CPUC requires flow-through ratemaking treatment for the current tax benefit arising from certain property-related and