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v3.25.1

Fair Value Measurements (Tables) | 3 Months Ended
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Mar. 31, 2025
Fair Value Disclosures [Abstract] |
Schedule of Fair Value by Level within the Fair Value Hierarchy | The following table sets forth assets and liabilities of SCE that were accounted for at fair value by level within the fair value hierarchy:
| March 31, 2025
(in millions) | Level 1 |  | Level 2 |  | Level 3 |  | Netting and Collateral 1 |  | Total
Assets at fair value |  |  |  |  |  |  |  |  |
Derivative contracts | $ | — |  |  | $ | 8 |  |  | $ | 156 |  |  | $ | (9) |  |  | $ | 155 |
Money market funds and other | 913 |  |  | 22 |  |  | — |  |  | — |  |  | 935 |
Nuclear decommissioning trusts: |  |  |  |  |  |  |  |  |
Stocks 2 | 1,575 |  |  | — |  |  | — |  |  | — |  |  | 1,575 |
Fixed Income 3 | 971 |  |  | 1,693 |  |  | — |  |  | — |  |  | 2,664 |
Short-term investments, primarily cash equivalents | 101 |  |  | 28 |  |  | — |  |  | — |  |  | 129 |
Subtotal of nuclear decommissioning trusts 4 | 2,647 |  |  | 1,721 |  |  | — |  |  | — |  |  | 4,368 |
Total assets | 3,560 |  |  | 1,751 |  |  | 156 |  |  | (9) |  |  | 5,458 |
Liabilities at fair value |  |  |  |  |  |  |  |  |
Derivative contracts | — |  |  | 22 |  |  | — |  |  | (22) |  |  | — |
Total liabilities | — |  |  | 22 |  |  | — |  |  | (22) |  |  | — |
Net assets | $ | 3,560 |  |  | $ | 1,729 |  |  | $ | 156 |  |  | $ | 13 |  |  | $ | 5,458 |
| December 31, 2024
(in millions) | Level 1 |  | Level 2 |  | Level 3 |  | Netting and Collateral 1 |  | Total
Assets at fair value |  |  |  |  |  |  |  |  |
Derivative contracts | $ | — |  |  | $ | 1 |  |  | $ | 212 |  |  | $ | (1) |  |  | $ | 212 |
Other | — |  |  | 22 |  |  | — |  |  | — |  |  | 22 |
Nuclear decommissioning trusts: |  |  |  |  |  |  |  |  |
Stocks 2 | 1,631 |  |  | — |  |  | — |  |  | — |  |  | 1,631 |
Fixed Income 3 | 975 |  |  | 1,618 |  |  | — |  |  | — |  |  | 2,593 |
Short-term investments, primarily cash equivalents | 128 |  |  | 39 |  |  | — |  |  | — |  |  | 167 |
Subtotal of nuclear decommissioning trusts 4 | 2,734 |  |  | 1,657 |  |  | — |  |  | — |  |  | 4,391 |
Total assets | 2,734 |  |  | 1,680 |  |  | 212 |  |  | (1) |  |  | 4,625 |
Liabilities at fair value |  |  |  |  |  |  |  |  |
Derivative contracts | — |  |  | 47 |  |  | — |  |  | (47) |  |  | — |
Total liabilities | — |  |  | 47 |  |  | — |  |  | (47) |  |  | — |
Net assets | $ | 2,734 |  |  | $ | 1,633 |  |  | $ | 212 |  |  | $ | 46 |  |  | $ | 4,625 |
1 Represents the netting of assets and liabilities under master netting agreements and cash collateral. 2 Approximately 73% and 75% of SCE's equity investments were in companies located in the United States at March 31, 2025 and December 31, 2024, respectively. 3 Includes corporate bonds, which were diversified by the inclusion of collateralized mortgage obligations and other asset backed securities, of $65 million and $94 million at March 31, 2025 and December 31, 2024, respectively. 4 Excludes net payables of $137 million and $105 million at March 31, 2025 and December 31, 2024, respectively, which consist of interest and dividend receivables as well as receivables and payables related to SCE's pending securities sales and purchases.
Schedule of Level 3 Fair Value Changes | The following table sets forth a summary of changes in SCE's fair value of Level 3 net derivative assets and liabilities:
| Three months ended March 31,
(in millions) | 2025 |  | 2024
Fair value of net assets at beginning of period | $ | 212 |  |  | $ | 91 |
Settlements | (10) |  |  | — |
Total realized/unrealized losses, net of gains 1 | (46) |  |  | (11) |
Fair value of net assets at end of period | $ | 156 |  |  | $ | 80 |
1 Due to regulatory mechanisms, SCE's realized and unrealized gains and losses are recorded as regulatory assets and liabilities.
Schedule of Valuation Techniques and Significant Inputs |
| Fair Value (in millions) |  | Significant Unobservable Input |  | Range ($ per MWh) |  | Weighted Average ($ per MWh)
| Assets |  | Liabilities |  |  |
March 31, 2025 | $ | 156 |  |  | $ | — |  |  | CAISO CRR auction prices |  | ($7.39) - $50,048.16 |  | $ | 28.09 |
December 31, 2024 | 212 |  |  | — |  |  | CAISO CRR auction prices |  | (4.64) - 50,048.16 |  | 27.20 |
Schedule of Long-Term Debt Fair Value |
| March 31, 2025 |  | December 31, 2024
(in millions) | Carrying Value 1 |  | Fair Value 2 |  | Carrying Value 1 |  | Fair Value 2
Edison International | $ | 38,386 |  |  | $ | 35,460 |  |  | $ | 35,583 |  |  | $ | 33,160 |
SCE | 32,777 |  |  | 29,863 |  |  | 30,515 |  |  | 27,994 |
1 Carrying value is net of debt issuance costs. 2 The fair value of long-term debt is classified as Level 2.

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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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