Edison International Subsidiary Files 8-K

TL;DR

SCE filed an 8-K on Aug 29th, check for financial updates.

AI Summary

Southern California Edison Company, a subsidiary of Edison International, filed an 8-K on August 29, 2024, to disclose information under Regulation FD and report other events. The filing includes financial statements and exhibits, with the company's principal executive offices located at 2244 Walnut Grove Ave, Rosemead, CA.

Why It Matters

This 8-K filing provides important updates and disclosures for Southern California Edison and its parent company, Edison International, which could impact investors and stakeholders.

Risk Assessment

Risk Level: low — The filing is a standard 8-K disclosure and does not appear to contain any immediately alarming or negative information.

Key Players & Entities

• SOUTHERN CALIFORNIA EDISON Co (company) — Filer
• EDISON INTERNATIONAL (company) — Parent Company
• 2244 WALNUT GROVE AVE (location) — Principal Executive Office Address
• ROSEMEAD (location) — City for Principal Executive Office
• CA (location) — State for Principal Executive Office
• 91770 (location) — ZIP Code for Principal Executive Office

FAQ

Key Financial Figures

• $1.6 b — orized to recover 60%, or approximately $1.6 billion, of approximately $2.7 billion of
• $2.7 billion — ximately $1.6 billion, of approximately $2.7 billion of losses, consisting of approximately
• $1.3 billion — of losses, consisting of approximately $1.3 billion of uninsured claims paid as of May 31,
• $0.3 billion — red claims paid as of May 31, 2024, and $0.3 billion of costs, comprised of legal costs paid
• $125 million — paid after May 31, 2024, other than for $125 million of uninsured claims and related financi
• $55 million — be authorized to recover approximately $55 million of approximately $65 million in restora
• $65 million — roximately $55 million of approximately $65 million in restoration costs incurred. In the S
• $50 million — ettlement Agreement, SCE also agreed to $50 million of shareholder-funded wildfire- and pub

Filing Documents

• eix-20240829x8k.htm (8-K) — 75KB
• eix-20240829xex99d1.htm (EX-99.1) — 14KB
• eix-20240829x8k003.jpg (GRAPHIC) — 5KB
• eix-20240829x8k004.jpg (GRAPHIC) — 6KB
• eix-20240829xex99d1g001.jpg (GRAPHIC) — 143KB
• eix-20240829xex99d1g002.jpg (GRAPHIC) — 323KB
• eix-20240829xex99d1g003.jpg (GRAPHIC) — 187KB
• eix-20240829xex99d1g004.jpg (GRAPHIC) — 105KB
• eix-20240829xex99d1g005.jpg (GRAPHIC) — 174KB
• 0000827052-24-000062.txt ( ) — 1570KB
• eix-20240829.xsd (EX-101.SCH) — 4KB
• eix-20240829_def.xml (EX-101.DEF) — 13KB
• eix-20240829_lab.xml (EX-101.LAB) — 19KB
• eix-20240829_pre.xml (EX-101.PRE) — 13KB
• eix-20240829x8k_htm.xml (XML) — 10KB

01 Other Events

Item 7.01 Other Events Members of Edison International management will use the information in the presentation furnished as Exhibit 99.1 regarding the settlement discussed in Item 8.01 below in meetings with institutional investors and analysts and at investor conferences. The attached presentation will also be posted on www.edisoninvestor.com.

01 Other Events

Item 8.01 Other Events In August 2023, SCE filed an application with the California Public Utilities Commission ("CPUC") to seek cost recovery of prudently incurred losses related to the Thomas Fire, the Koenigstein Fire and the Montecito Mudslides ("TKM Events") and of restoration costs incurred related to the Thomas and Koenigstein Fires. On August 29, 2024, SCE will file a motion in the cost recovery proceeding seeking approval of a settlement agreement between SCE and the California Public Advocates Office (the "Settlement Agreement"). Other parties to the proceeding may oppose or take no position on the Settlement Agreement. Under the Settlement Agreement, if approved by the CPUC, SCE will be authorized to recover 60%, or approximately $1.6 billion, of approximately $2.7 billion of losses, consisting of approximately $1.3 billion of uninsured claims paid as of May 31, 2024, and $0.3 billion of costs, comprised of legal costs paid as of May 31, 2024, and estimated financing costs. SCE will also be authorized to recover 60% of losses paid after May 31, 2024, other than for $125 million of uninsured claims and related financing costs which SCE waived its right to seek recovery of under the SED Agreement entered into between SCE and the Safety and Enforcement Division of the CPUC in October 2021. Subject to approval of the Settlement Agreement, SCE will request approval from the CPUC to finance the amounts authorized under the Settlement Agreement through the issuance of securitized bonds. Further, SCE will be authorized to recover approximately $55 million of approximately $65 million in restoration costs incurred. In the Settlement Agreement, SCE also agreed to $50 million of shareholder-funded wildfire- and public safety-related system enhancements. If the Settlement Agreement is approved, under SCE's CPUC regulatory capital structure SCE will be allowed to permanently exclude any after-tax charges to equity associated with the costs disallowed or funded b

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits (d) Exhibits EXHIBIT INDEX Exhibit No. Description 99.1 Edison International Business Update Supplement: TKM Settlement Agreement 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. EDISON INTERNATIONAL (Registrant) /s/ Kara G. Ryan Kara G. Ryan Vice President, Chief Accounting Officer and Controller Date: August 29, 2024 SOUTHERN CALIFORNIA EDISON COMPANY (Registrant) /s/ Kara G. Ryan Kara G. Ryan Vice President, Chief Accounting Officer and Controller Date: August 29, 2024

View Full Filing

View this 8-K filing on SEC EDGAR