“Interest Expense A net decrease in interest expense of $368 million was primarily due to: • $171 million benefit related to cost recoveries authorized under the TKM Settlement Agreement; • $243 million benefit related to cost recoveries under the Woolsey Settlement Agreement; partially offset by: • $38 million pass-through expense mainly associated with wildfire mitigation efforts and utility owned energy storage projects (offset in "Operating Revenue" above); • $8 million higher interest expense from higher borrowings.”
“SCE recorded net charges of $76 million ($39 million after-tax), primarily due to an $88 million impairment of utility property, plant and equipment associated with historical capital expenditures disallowed in the final decision, mainly related to the rooftop solar photovoltaic program.”
“The increase was partially offset by: • the issuance of $750 million of 5.80% Series mortgage bonds in January 2025; • the repayment of $250 million of 4.44% Series mortgage bonds in January 2026; • net repayments of $21.3 million in 2026 compared to net long-term borrowings of $100 million in 2025 on the nuclear fuel company variable interest entities’ credit facilities; and • a decrease of $93.6 million in net customer advances for construction related to transmission, distribution, and generator interconnection agreements.”