Regulatory Assets and Liabilities

6 Months Ended

Jun. 30, 2024

Regulatory Assets and Liabilities

Regulatory Assets and Liabilities

Note 11. Regulatory Assets and Liabilities

Regulatory Assets

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

	June 30,		December 31,
(in millions)	2024		2023
Current:
Regulatory balancing and memorandum accounts	$	3,865	$	2,502
Other		45		22
Total current		3,910		2,524
Long-term:
Deferred income taxes		5,752		5,533
Unamortized investments, net of accumulated amortization		113		110
Unamortized losses on reacquired debt		93		99
Regulatory balancing and memorandum accounts		832		1,257
Environmental remediation		226		226
Recovery assets		1,535		1,558
Other		107		114
Total long-term		8,658		8,897
Total regulatory assets	$	12,568	$	11,421

Regulatory Liabilities

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

	June 30,		December 31,
(in millions)	2024		2023
Current:
Regulatory balancing and memorandum accounts	$	1,157	$	704
Other		36		59
Total current		1,193		763
Long-term:
Costs of removal		2,602		2,635
Deferred income taxes		2,186		2,211
Recoveries in excess of ARO liabilities		1,595		1,498
Regulatory balancing and memorandum accounts		1,815		1,395
Pension and other postretirement benefits		1,685		1,664
Other		17		17
Total long-term		9,900		9,420
Total regulatory liabilities	$	11,093	$	10,183

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:

	June 30,		December 31,
(in millions)	2024		2023
Asset (liability)
Energy procurement related costs	$	87	$	397
Public purpose and energy efficiency		(1,897)		(1,736)
GRC related balancing accounts		1,916		1,361
Wildfire risk mitigation and insurance		859		1,169
Wildfire and drought restoration		187		417
Residential uncollectibles balancing account		101		—
Customer service re-platform memorandum account		81		21
Tax accounting memorandum account		160		108
Other		231		(77)
Assets, net of liabilities	$	1,725	$	1,660