Regulatory Assets and Liabilities

3 Months Ended

Mar. 31, 2025

Regulatory Assets and Liabilities Disclosure [Abstract]

Regulatory Assets

SCE's regulatory assets included on the condensed consolidated balance sheets are:


(in millions)	March 31, 2025		December 31, 2024
Current:
Regulatory balancing and memorandum accounts	$	2,097	$	2,723
Other	27		25
Total current	2,124		2,748
Long-term:
Deferred income taxes	6,095		5,982
Unamortized investments, net of accumulated amortization	120		115
Unamortized losses on reacquired debt	85		88
Regulatory balancing and memorandum accounts	2,436		867
Environmental remediation	219		222
Recovery assets	1,500		1,512
Other	93		100
Total long-term	10,548		8,886
Total regulatory assets	$	12,672	$	11,634

For more information, see Note 11 of the 2024 Form 10-K.

Regulatory Liabilities

SCE's regulatory liabilities included on the condensed consolidated balance sheets are:


(in millions)	March 31, 2025		December 31, 2024
Current:
Regulatory balancing and memorandum accounts	$	386	$	1,144
Energy derivatives	142		165
Other	35		38
Total current	563		1,347
Long-term:
Costs of removal	2,585		2,520
Deferred income taxes	2,150		2,163
Recoveries in excess of ARO liabilities	1,714		1,748
Regulatory balancing and memorandum accounts	2,264		2,023
Pension and other postretirement benefits	1,696		1,690
Other	21		15
Total long-term	10,430		10,159
Total regulatory liabilities	$	10,993	$	11,506

Net Regulatory Balancing and Memorandum Accounts

The following table summarizes the significant components of regulatory balancing and memorandum accounts included in the above tables of regulatory assets and liabilities:


(in millions)	March 31, 2025		December 31, 2024
Asset (liability)
Energy procurement related costs	$	(106)	$	(97)
Public purpose and energy efficiency	(1,930)		(1,708)
GRC related balancing accounts	992		976
FERC related balancing accounts	131		125
Wildfire risk mitigation and insurance	731		741
TKM Settlement cost recovery1	1,556		—
Wildfire and drought restoration	284		238
Tax accounting memorandum account	(88)		(40)
Other	313		188
Assets, net of liabilities	$	1,883	$	423

1 Cost recoveries authorized under the TKM Settlement Agreement. See Note 12 for more information.