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Commitments and Contingencies (Tables) | 3 Months Ended
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Mar. 31, 2025
Commitments and Contingencies Disclosure [Abstract] |
Schedule of Contingency Accruals and Changes | The following table presents settlements paid:
(in millions) | Inception to March 31, 2025 | Three months ended March 31, 2025 |
2017/2018 Wildfire/Mudslide Events | $ | 9,553 |  | $ | 99 |  |
Other Wildfire Events | 629 |  | 65 |  |
Total | $ | 10,182 |  | $ | 164 |  |
The following table presents changes in estimated losses since December 31, 2024:
(in millions) | 2017/2018 Wildfire/Mudslide Events | Other Wildfire Events | Total
Balance at December 31, 2024 | $ | 426 |  | $ | 575 |  | $ | 1,001 |
Increase in accrued estimated losses | — |  | 21 |  | 21 |
Amounts paid | (99) |  | (65) |  | (164) |
Balance at March 31, 2025 | $ | 327 |  | $ | 531 |  | $ | 858 |
Edison International's and SCE's condensed 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 | $ | 38 |  | $ | 17 |  | $ | 55 |
Long term wildfire-related claims liabilities 2 | 289 | 514 | 803
Total Balance at March 31, 2025 | $ | 327 |  | $ | 531 |  | $ | 858 |
(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 |
1 At March 31, 2025, current liabilities related to 2017/2018 Wildfire/Mudslide Events consisted of $17 million of settlements executed and $21 million of short-term payables under the SED Agreement. 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. 2 At March 31, 2025, long-term wildfire-related claims related to 2017/2018 Wildfire/Mudslide Events consisted of $33 million of long-term payables under the SED Agreement and $256 million of estimate of expected losses for remaining alleged and potential claims. 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. For the three months ended March 31, 2025 and 2024, SCE's condensed consolidated statements of income included wildfire-related claims, net of expected recoveries as follows:
| Three months ended March 31, 2025
(in millions) | 2017/2018 Wildfire/Mudslide Events | Other Wildfire Events | Total
Wildfire-related claims | $ | — |  | $ | 21 |  | $ | 21 |
Expected recoveries from insurance and third parties 1 | — |  | (82) |  | (82) |
Expected (recoveries from)/refund to CPUC customers | (1,341) |  | 44 |  | (1,297) |
Expected refund to FERC customers | — |  | 3 |  | 3 |
Total pre-tax gain | (1,341) |  | (14) |  | (1,355) |
Income tax expense | 375 |  | 4 |  | 379 |
Total after-tax gain | $ | (966) |  | $ | (10) |  | $ | (976) |
| Three months ended March 31, 2024
(in millions) | 2017/2018 Wildfire/Mudslide Events | Other Wildfire Events | Total
Wildfire-related claims | $ | 490 |  | $ | 180 |  | $ | 670 |
Expected recoveries from insurance and third parties 2 | — |  | (56) |  | (56) |
Expected revenue from FERC customers | (27) |  | (7) |  | (34) |
Total pre-tax charge | 463 |  | 117 |  | 580 |
Income tax benefit | (130) |  | (33) |  | (163) |
Total after-tax charge | $ | 333 |  | $ | 84 |  | $ | 417 |
1 For the three months ended March 31, 2025, EIS, a wholly-owned subsidiary of Edison International, incurred $50 million insurance expense, which consisted of $47 million of wildfire claims and $3 million of related legal costs. Wildfire claims were included in the insurance recoveries of SCE, offset by reduction in expected recovery from CPUC and FERC customers, and was excluded from insurance recoveries of Edison International. 2 For the three months ended March 31, 2024, EIS incurred $1 million insurance expense. This amount was included in the insurance recoveries of SCE but were excluded from those of Edison International. The following table sets forth SCE's total recoveries received since inception and expected to receive as of March 31, 2025:
(in millions) | 2017/2018 Wildfire/Mudslide Events | Other Wildfire Events | Total
Recoveries from insurance and third parties | $ | 2,000 |  | $ | 800 |  | $ | 2,800 |
FERC recoveries | 440 |  | 22 |  | 462 |
CPUC- RMBA recoveries | — |  | 12 |  | 12 |
CPUC-WEMA deferral | 1,341 |  | 96 |  | 1,437 |
Total | $ | 3,781 |  | $ | 930 |  | $ | 4,711 |
The following tables summarize expected recoveries from insurance and third parties, and through electric rates as of March 31, 2025 and December 31, 2024:
| March 31, 2025
(in millions) | 2017/2018 Wildfire/Mudslide Events | Other Wildfire Events | Total
Long-term receivables from insurance and third parties | $ | — |  | $ | 422 |  | $ | 422 |
FERC related balancing accounts | 55 |  | 22 |  | 77 |
CPUC-WEMA | 1,341 |  | 96 |  | 1,437 |
Total | $ | 1,396 |  | $ | 540 |  | $ | 1,936 |
| December 31, 2024
(in millions) | 2017/2018 Wildfire/Mudslide Events | Other Wildfire Events | Total
Long-term receivables from insurance and third parties | $ | — |  | $ | 434 |  | $ | 434 |
FERC related balancing accounts | 64 |  | 9 |  | 73 |
CPUC-WEMA | — |  | 140 |  | 140 |
Total | $ | 64 |  | $ | 583 |  | $ | 647 |

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