Commitments and Contingencies (Tables)

3 Months Ended

Mar. 31, 2024

2017/2018 Wildfire/Mudslide Events

Commitments and Contingencies

Schedule of Contingency Accruals and Changes

(in millions)
Balance at December 31, 20231	$	715
Increase in accrued estimated losses		490
Amounts paid		(174)
Balance at March 31, 20242	$	1,031

1 At December 31, 2023, $30 million in current liabilities, wildfire-related claims, on Edison International's and SCE's consolidated balance sheets consisted of $16 million of settlements executed and $14 million of short term payables under the SED Agreement in connection with the 2017/2018 Wildfire/Mudslide Events. At December 31, 2023, the $1,368 million included in deferred credits and other liabilities, wildfire-related claims, on Edison International's and SCE's consolidated balance sheets included Edison International's and SCE's best estimate of expected losses for remaining alleged and potential claims related to the 2017/2018 Wildfire/Mudslide Events of $637 million, $48 million of long term payables under the SED Agreement and estimated losses related to the Other Wildfires of $683 million.

2 At March 31, 2024, $160 million in current liabilities, wildfire-related claims, on Edison International's and SCE's consolidated balance sheets consisted of $140 million of settlements executed in connection with the 2017/2018 Wildfire/Mudslide Events,
$14 million of short term payables under the SED Agreement, and $6 million of settlements executed in connection with the Other Wildfires. At March 31, 2024, the $1,657 million included in deferred credits and other liabilities, wildfire-related claims, on Edison International's and SCE's consolidated balance sheets included Edison International's and SCE's best estimate of expected losses for remaining alleged and potential claims related to the 2017/2018 Wildfire/Mudslide Events of $831 million, $46 million of long term payables under the SED Agreement and estimated losses related to the Other Wildfires of $780 million.

For the three months ended March 31, 2024 and 2023, Edison International's and SCE's consolidated statements of income included charges for the estimated losses, net of expected recoveries from FERC customers, related to the 2017/2018 Wildfire/Mudslide Events claims as follows:

	Three months ended March 31,
(in millions)	2024		2023
Charge for wildfire-related claims	$	490	$	90
Expected revenue from FERC customers		(27)		(6)
Total pre-tax charge		463		84
Income tax benefit		(130)		(23)
Total after-tax charge	$	333	$	61

Other Wildfires

Commitments and Contingencies

Schedule of Contingency Accruals and Changes

The following table presents changes in estimated losses since December 31, 2023:

(in millions)
Balance at December 31, 2023	$	683
Increase in accrued estimated losses		180
Amounts paid		(77)
Balance at March 31, 2024	$	786

For the three months ended March 31, 2024 and 2023, Edison International's and SCE's consolidated statements of income included charges for the estimated losses (established at the low end of the estimated range of reasonably possible losses), net of expected recoveries from insurance and customers, related to the Other Wildfires as follows, respectively:

	Three months ended March 31,
(in millions)	2024		2023
Edison International:
Charge for wildfire-related claims	$	180	$	6
Expected insurance recoveries1		(55)		—
Expected revenue from CPUC and FERC customers		(7)		—
Total pre-tax charge		118		6
Income tax benefit		(33)		(2)
Total after-tax charge	$	85	$	4
	Three months ended March 31,
(in millions)	2024		2023
SCE:
Charge for wildfire-related claims	$	180	$	6
Expected insurance recoveries		(56)		—
Expected revenue from CPUC and FERC customers		(7)		—
Total pre-tax charge		117		6
Income tax benefit		(33)		(2)
Total after-tax charge	$	84	$	4

1 In the first quarter of 2024, Edison Insurance Services, Inc. ("EIS"), a wholly-owned subsidiary of Edison International, incurred $1 million insurance expenses. This amount was included in the insurance recovery of SCE but was excluded from that of Edison International.