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Fair Value Measurements (Tables) | 6 Months Ended
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Jun. 30, 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:
| June 30, 2025
(in millions) | Level 1 |  | Level 2 |  | Level 3 |  | Netting and Collateral 1 |  | Total
Assets at fair value |  |  |  |  |  |  |  |  |
Derivative contracts | $ | — |  |  | $ | 12 |  |  | $ | 184 |  |  | $ | (17) |  |  | $ | 179 |
Money market funds and other | 6 |  |  | 22 |  |  | — |  |  | — |  |  | 28 |
Nuclear decommissioning trusts: |  |  |  |  |  |  |  |  |
Stocks 2 | 1,721 |  |  | — |  |  | — |  |  | — |  |  | 1,721 |
Fixed Income 3 | 858 |  |  | 1,706 |  |  | — |  |  | — |  |  | 2,564 |
Short-term investments, primarily cash equivalents | 79 |  |  | 140 |  |  | — |  |  | — |  |  | 219 |
Subtotal of nuclear decommissioning trusts 4 | 2,658 |  |  | 1,846 |  |  | — |  |  | — |  |  | 4,504 |
Total assets | 2,664 |  |  | 1,880 |  |  | 184 |  |  | (17) |  |  | 4,711 |
Liabilities at fair value |  |  |  |  |  |  |  |  |
Derivative contracts | — |  |  | 15 |  |  | 5 |  |  | (20) |  |  | — |
Total liabilities | — |  |  | 15 |  |  | 5 |  |  | (20) |  |  | — |
Net assets | $ | 2,664 |  |  | $ | 1,865 |  |  | $ | 179 |  |  | $ | 3 |  |  | $ | 4,711 |
| 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 72% and 75% of SCE's equity investments were in companies located in the United States at June 30, 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 $62 million and $94 million at June 30, 2025 and December 31, 2024, respectively. 4 Excludes net payables of $180 million and $105 million at June 30, 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 Changes in SCE's Fair Value of Level 3 | 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 June 30, |  | Six months ended June 30,
(in millions) | 2025 |  | 2024 |  | 2025 |  | 2024
Fair value of net assets at beginning of period | $ | 156 |  |  | $ | 80 |  |  | $ | 212 |  |  | $ | 91 |
Settlements | (4) |  |  | 4 |  |  | (14) |  |  | 4 |
Total realized/unrealized gains (losses)1 | 27 |  |  | (5) |  |  | (19) |  |  | (16) |
Fair value of net assets at end of period | $ | 179 |  |  | $ | 79 |  |  | $ | 179 |  |  | $ | 79 |
1 Due to regulatory mechanisms, SCE's realized and unrealized gains and losses are recorded as regulatory assets and liabilities.
Schedule of Significant Unobservable Inputs Used to Determine Fair Value for Level 3 | The following table sets forth the significant unobservable inputs used to determine fair value for Level 3 assets and liabilities:
| Fair Value (in millions) |  | Significant Unobservable Input |  | Range ($ per MWh) |  | Weighted Average ($ per MWh)
| Assets |  | Liabilities |  |  |
June 30, 2025 |  |  |  |  |  |  |  |  |
CRRs | $ | 173 |  |  | $ | 5 |  |  | CAISO CRR auction prices |  | $(10.95) - $36,279.67 |  | $ | 42.24 |
Fin Toll arrangements | 11 |  |  | — |  |  | Hourly Forecast Power Prices |  | (2.70) - 174.67 |  | 63.00 |
December 31, 2024 |  |  |  |  |  |  |  |  |
CRRs | $ | 212 |  |  | $ | — |  |  | CAISO CRR auction prices |  | $(4.64) - $50,048.16 |  | $ | 27.20 |
Schedule of Fair Value of Debt Recorded at Carrying Value | The carrying value and fair value of Edison International's and SCE's long-term debt (including the current portion of long-term debt) are as follows:
| June 30, 2025 |  | December 31, 2024
(in millions) | Carrying Value 1 |  | Fair Value 2 |  | Carrying Value 1 |  | Fair Value 2
Edison International | $ | 37,670 |  |  | $ | 34,369 |  |  | $ | 35,583 |  |  | $ | 33,160 |
SCE | 32,458 |  |  | 29,178 |  |  | 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 input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 103 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-103 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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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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