Company: SCE-PL
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000827052-25-000022
Chunk: 359

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 359
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 dividend to Edison International of $430 million.The timing and amount of future dividends are also dependent on a number of other factors including SCE's requirements to fund other obligations and capital expenditures, and its ability to access the capital markets and generate operating cash flows and earnings. If SCE incurs significant costs related to catastrophic wildfires and is unable to recover such costs through insurance, the Wildfire Insurance Fund (for fires after July 12, 2019), or from customers or is unable to access 

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capital markets on reasonable terms, SCE may be limited in its ability to pay future dividends to Edison International and its preference shareholders.Edison International Dividend Edison International's ability to declare and pay common dividends may be restricted under the terms of its outstanding preferred stock. For further information see Note 14. In December 2024, Edison International declared a 6.1% increase to the annual dividend rate from $3.12 per share to $3.31 per share. On February 27, 2025, Edison International declared a dividend of $0.8275 per share to be paid on April 30, 2025. Edison International intends to maintain its target payout ratio of 45% – 55% of SCE's core earnings.Earnings Per ShareEdison International computes earnings per common share ("EPS") using the two-class method, which is an earnings allocation formula that determines EPS for each class of common stock and participating security. Edison International's participating securities are stock-based compensation awards, payable in common shares, which earn dividend equivalents on an equal basis with common shares once the awards are vested. See Note 9 and Note 14 for further information.EPS attributable to Edison International common shareholders was computed as follows:Years ended December 31,(in millions, except per-share amounts)202420232022Basic earnings per share:Net income available to common shareholders$1,284 $1,197 $612 Weighted average common shares outstanding386 383 381 Basic earnings per share$3.33 $3.12 $1.61 Diluted earnings per share:Net income available to common shareholders$1,284 $1,197 $612 Income impact of assumed conversions1 1 1 Net income available to common shareholders and assumed conversions$1,285 $1,198 $613 Weighted average common shares outstanding386 383 381 Incremental shares from assumed conversions2 2 2 Adjusted weighted average