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Commitments and Contingencies (Tables) | 12 Months Ended
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Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract] |
Schedule of Undiscounted Expected Payments for PPA | SCE entered into various agreements to purchase power, electric capacity and other energy products. At December 31, 2024, the undiscounted future expected minimum payments for the SCE PPAs (primarily related to renewable energy contracts), which were approved by the CPUC and met other critical contract provisions (including completion of major milestones for construction), were as follows:
(in millions) | Total
2025 | $ | 2,986 |
2026 | 3,139 |
2027 | 2,704 |
2028 | 2,423 |
2029 | 2,421 |
Thereafter | 16,493 |
Total future commitments 1 | $ | 30,166 |
1 Certain power purchase agreements are treated as operating leases. For further discussion, see Note 13. Includes long-term lease contracts commencing in 2024 with total future minimum lease payments of $57 million.
Schedule of Certain Future Other Commitments | The following summarizes the estimated minimum future commitments for SCE's other commitments:
(in millions) | 2025 |  | 2026 |  | 2027 |  | 2028 |  | 2029 |  | Thereafter |  | Total
Other contractual obligations | $ | 62 |  | $ | 59 |  | $ | 59 |  | $ | 59 |  | $ | 48 |  | $ | 142 |  | $ | 429
Schedule of Contingency Accruals and Changes | The following table presents settlements paid.
(in millions) | Inception to December 31, 2024 | 2024 | 2023 | 2022
2017/2018 Wildfire/Mudslide Events | $ | 9,454 |  | $ | 779 |  | $ | 1,034 |  | $ | 1,911 |
Other Wildfire Events | 564 |  | 361 |  | 190 |  | 13 |
Total | $ | 10,018 |  | $ | 1,140 |  | $ | 1,224 |  | $ | 1,924 |
The following table presents changes in estimated losses since December 31, 2023:
(in millions) | 2017/2018 Wildfire/Mudslide Events | Other Wildfire Events | Total
Balance at December 31, 2023 | $ | 715 |  | $ | 683 |  | $ | 1,398 |
Increase in accrued estimated losses | 490 |  | 253 |  | 743 |
Amounts paid | (779) |  | (361) |  | (1,140) |
Balance at December 31, 2024 | $ | 426 |  | $ | 575 |  | $ | 1,001 |
Edison International's and SCE's consolidated balance sheets included fixed payments to be made under executed settlement agreements and accrued estimated losses presented in the tables below:
(in millions) | 2017/2018 Wildfire/Mudslide Events | Other Wildfire Events | Total
Current portion of Wildfire-related claims liabilities 1 | $ | 48 |  | $ | 12 |  | $ | 60 |
Long term wildfire-related claims liabilities 2 | 378 |  | 563 |  | 941 |
Total Balance at December 31, 2024 | $ | 426 |  | $ | 575 |  | $ | 1,001 |
(in millions) | 2017/2018 Wildfire/Mudslide Events | Other Wildfire Events | Total
Current portion of Wildfire-related claims liabilities 1 | $ | 30 |  | $ | — |  | $ | 30 |
Long term wildfire-related claims liabilities 2 | 685 |  | 683 |  | 1,368 |
Total Balance at December 31, 2023 | $ | 715 |  | $ | 683 |  | $ | 1,398 |
1.At December 31, 2024, current liabilities related to 2017/2018 Wildfire/Mudslide Events consisted of $29 million of settlements executed and $19 million of short-term payables under the SED Agreement. At December 31, 2023, current liabilities related to 2017/2018 Wildfire/Mudslide Events consisted of $16 million of settlements executed and $14 million of short-term payables under the SED Agreement. 2.At December 31, 2024, long-term wildfire-related claims related to 2017/2018 Wildfire/Mudslide Events consisted of $38 million of long-term payables under the SED Agreement and $340 million of estimate of expected losses for remaining alleged and potential claims. At December 31, 2023, long-term wildfire-related claims related to 2017/2018 Wildfire/Mudslide Events consisted of $48 million of long-term payables under the SED Agreement and $637 million of estimate of expected losses for remaining alleged and potential claims. For the years ended December 31, 2024, 2023 and 2022, SCE's consolidated statements of income included charges for the estimated losses, net of expected recoveries, as follows:
| Year ended December 31, 2024
(in millions) | 2017/2018 Wildfire/Mudslide Events | Other Wildfire Events | Total
Charge for wildfire-related claims | $ | 490 |  | $ | 253 |  | $ | 743 |
Expected insurance recoveries 1 | — |  | (96) |  | (96) |
Expected recoveries through electric rates | (27) |  | (9) |  | (36) |
Total pre-tax charge | 463 |  | 148 |  | 611 |
Income tax benefit | (130) |  | (42) |  | (172) |
Total after-tax charge | $ | 333 |  | $ | 106 |  | $ | 439 |
| Year ended December 31, 2023
(in millions) | 2017/2018 Wildfire/Mudslide Events | Other Wildfire Events | Total
Charge for wildfire-related claims | $ | 630 |  | $ | 184 |  | $ | 814 |
Expected insurance recoveries 1 | — |  | (149) |  | (149) |
Expected recoveries through electric rates | (37) |  | (2) |  | (39) |
Total pre-tax charge | 593 |  | 33 |  | 626 |
Income tax benefit | (165) |  | (9) |  | (174) |
Total after-tax charge | $ | 428 |  | $ | 24 |  | $ | 452 |
| Year ended December 31, 2022
(in millions) | 2017/2018 Wildfire/Mudslide Events | Other Wildfire Events | Total
Charge for wildfire-related claims | $ | 1,296 |  | $ | 572 |  | $ | 1,868 |
Expected insurance recoveries 1 | — |  | (399) |  | (399) |
Expected recoveries through electric rates | (76) |  | (162) |  | (238) |
Total pre-tax charge | 1,220 |  | 11 |  | 1,231 |
Income tax benefit | (341) |  | (3) |  | (344) |
Total after-tax charge | $ | 879 |  | $ | 8 |  | $ | 887 |
1.In 2024, 2023 and 2022, Edison Insurance Services, Inc. ("EIS"), a wholly-owned subsidiary of Edison International, incurred $4 million, $3 million and $9 million insurance expenses, respectively. These amounts were included in the insurance recoveries of SCE but were excluded from those of Edison International. The following table sets forth total expected recoveries SCE has recorded since inception through December 31, 2024:
(in millions) | 2017/2018 Wildfire/Mudslide Events | Other Wildfire Events | Total
Insurance recoveries | $ | 2,000 |  | $ | 718 |  | $ | 2,718 |
FERC recoveries | 440 | 25 | 465
CPUC- RMBA recoveries | — |  | 12 |  | 12
CPUC-WEMA deferral | — |  | 140 |  | 140 |
Total | $ | 2,440 |  | $ | 895 |  | $ | 3,335 |
The following tables summarize expected recoveries from insurance and through electric rates as of December 31, 2024 and 2023:
| December 31, 2024
(in millions) | 2017/2018 Wildfire/Mudslide Events | Other Wildfire Events | Total
Long-term insurance receivables | $ | — |  | $ | 434 |  | $ | 434 |
FERC related balancing accounts | 64 | 9 | 73
CPUC-WEMA | — |  | 140 |  | 140 |
Total | $ | 64 |  | $ | 583 |  | $ | 647 |
| December 31, 2023
(in millions) | 2017/2018 Wildfire/Mudslide Events | Other Wildfire Events | Total
Long-term insurance receivables | $ | — |  | $ | 512 |  | $ | 512 |
FERC related balancing accounts | 37 | 14 | 51
CPUC-WEMA | — |  | 140 |  | 140 |
Total | $ | 37 |  | $ | 666 |  | $ | 703 |

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