Leases (Tables)

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

Schedule of Finance Lease Payments

The following table summarizes SCE's future lease payments for operating leases as of December 31, 2024:

(in millions)	PPA Operating Leases		Other Operating Leases1
2025	$	106	$	64
2026	89		58
2027	84		54
2028	84		48
2029	85		41
Thereafter	698		104
Total lease payments	1,146		369
Amount representing interest	265		76
Lease liabilities	$	881	$	293

1Excludes escalation clauses based on consumer price or other indices and residual value guarantees that are not considered probable at the commencement date of the lease.

Schedule of Lease Expense Components

	Years ended December 31,
(in millions)	2024		2023		2022
PPA leases:
Operating lease cost	$	115	$	503	$	580
Variable lease cost1	1,700		2,277		2,661
Total PPA lease cost	1,815		2,780		3,241
Other operating leases cost	64		56		52
Total lease cost	$	1,879	$	2,836	$	3,293

1Includes lease costs from legacy renewable energy contracts where payments are based on contingent external factors such as wind, hydro and solar power generation.

Other information related to leases was as follows:

	Years ended December 31,
(in millions, except lease term and discount rate)	2024		2023		2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from:
PPA operating leases	$	115	$	503	$	580
Other operating leases	62		55		50
ROU assets obtained in exchange for lease obligations:
PPA operating leases	$	11	$	226	$	20
Other operating leases	79		69		76
Weighted average remaining lease term (in years):
PPA operating leases	12.50		13.37		9.42
Other operating leases	8.86		9.56		10.38
Weighted average discount rate:
PPA operating leases	4.30%		4.30%		2.95%
Other operating leases	4.50%		4.22%		3.78%

Schedule of Undiscounted Cash Flow Expected from Lease Payments

(in millions)
2025	$	12
2026	8
2027	8
2028	8
2029	7
Thereafter	118
Total	$	161