This item no longer requires disclosure.
FORM 10-K SUMMARY
None.
DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS
Not applicable.
Table of Contents
**EXHIBITS AND FINANCIAL STATEMENT SCHEDULES (**Part IV, Item 15)
(a) (1) Financial Statements
See Consolidated Financial Statements listed in the Table of Contents of this report.
(a) (2) Report of Independent Registered Public Accounting Firm and Schedules Supplementing Financial Statements
Edison International
The following documents may be found in this report at the indicated page numbers under the headings "Financial Statements and Supplementary Data—Reports of Independent Registered Accounting Firm" and "Exhibits and Financial Statement Schedules—Schedules Supplementing Financial Statements" in the Table of Contents of this report.
Report of Independent Registered Public Accounting Firm - Edison International
Schedule I – Condensed Financial Information of Edison International Parent
Schedules II through V, inclusive, for Edison International are omitted as not required or not applicable.
Southern California Edison Company
The following documents may be found in this report at the indicated page numbers under the headings "Financial Statements and Supplementary Data—Reports of Independent Registered Accounting Firm" and "Exhibits and Financial Statement Schedules—Schedules Supplementing Financial Statements" in the Table of Contents of this report.
Report of Independent Registered Public Accounting Firm - SCE
Schedules I through V, inclusive, for SCE are omitted as not required or not applicable.
(a) (3) Exhibits
Table of Contents
EXHIBIT INDEX
| | | | | | | | |
|---|
| Exhibit Number | | | | | | Description | | |
| | | | | | | | |
| Edison International | | | | | | | | |
| | | | | | | | |
| 3.1 | | | | | | Certificate of Restated Articles of Incorporation of Edison International, effective December 19, 2006, together with all Certificates of Determination of Preference of Preferred Stock issued since December 19, 2006 (File No. 1-9936, filed as Exhibit 3.1 to Edison International's Form 10-K for the year ended December 31, 2021)* | | |
| | | | | | | | |
| 3.2 | | | | | | Bylaws of Edison International, as amended effective, December 8, 2022 (File No. 1-9936, filed as Exhibit No. 3.1 to Edison International's Form 8-K dated December 8, 2022 and filed December 9, 2022)* | | |
| | | | | | | | |
| Southern California Edison Company | | | | | | | | |
| | | | | | | | |
| 3.3 | | | | | | Certificate of Amended and Restated Articles of Incorporation of Southern California Edison Company, effective August 28, 2023 (Filed No. 1-2313 filed as Exhibit 3.1 to SCE’s Form 8-K dated September 19, 2023 and filed September 21, 2023)* | | |
| | | | | | | | |
| 3.4 | | | | | | Bylaws of Southern California Edison Company, as amended effective December 8, 2022 (File No. 1-2313, filed as Exhibit No. 3.2 to SCE's Form 8-K dated December 8, 2022 and filed December 9, 2022)* | | |
| | | | | | | | |
| Edison International | | | | | | | | |
| | | | | | | | |
| 4.1 | | | | | | Edison International - Description of Registered Securities (File No. 1-9936, filed as Exhibit 4.1 to Edison International's Form 10-K for the year ended December 31, 2019)* | | |
| | | | | | | | |
| 4.2 | | | | | | Senior Indenture, dated September 10, 2010 (File No. 1-9936, filed as Exhibit 4.1 to Edison International's Form 10-Q for the quarter ended September 30, 2010)* | | |
| | | | | | | | |
| 4.3 | | | | | | Junior Subordinated Indenture, dated as of March 1, 2023, between Edison International and The Bank of New York Mellon Company, as Trustee (File No. 1-9936, filed as Exhibit 4.3 to Edison International’s Form 10-K for the year ended December 31, 2024)* | | |
| | | | | | | | |
| 4.4 | | | | | | Form of Certificate representing Series A Preferred Stock (included as Exhibit A to Certificate of Determination of the 5.375% Fixed Rate Reset Cumulative Perpetual Preferred Stock Series A) (File No. 1-9936, filed as Exhibit 3.1 to Edison International's Form 10-K for the year ended December 31, 2021)* | | |
| | | | | | | | |
| 4.5 | | | | | | Form of Certificate representing Series B Preferred Stock (included as Exhibit A to Certificate of Determination of the 5.00% Fixed Rate Reset Cumulative Perpetual Preferred Stock Series B) (File No. 1-9936, filed as Exhibit 3.1 to Edison International's Form 10-K for the year ended December 31, 2021)* | | |
| | | | | | | | |
| Southern California Edison Company | | | | | | | | |
| | | | | | | | |
Table of Contents
| | | | | | | | |
|---|
| Exhibit Number | | | | | | Description | | |
| 4.6 | | | | | | Southern California Edison Company First Mortgage Bond Trust Indenture, dated as of October 1, 1923 (File No. 1-2313, filed as Exhibit 4.2 to SCE's Form 10-K for the year ended December 31, 2010)* | | |
| | | | | | | | |
| 4.7 | | | | | | Southern California Edison Company Indenture, dated as of January 15, 1993 (File No. 1-2313, filed as Exhibit 4.3 to SCE's Form 10-K for the year ended December 31, 2017)* | | |
| | | | | | | | |
| 4.8 | | | | | | Certificate of Determination of Preferences of the Company’s Series M Preference Stock (File No. 1-2313, filed as Exhibit 4.1 to SCE’s Form 8-K dated November 16, 2023 and filed on November 22, 2023)* | | |
| | | | | | | | |
| 4.9 | | | | | | Certificate of Determination of Preferences of the Company’s Series N Preference Stock (File No. 1-2313, filed as Exhibit 4.1 to SCE’s Form 8-K dated and filed on May 7, 2024)* | | |
| | | | | | | | |
| Edison International and Southern California Edison Company | | | | | | | | |
| | | | | | | | |
| 10.1** | | | | | | Edison International 2008 Director Deferred Compensation Plan, as amended and restated effective January 1, 2021 (File No. 1-9936, filed as Exhibit No. 10.2 to Edison International's Form 10-Q for the quarter ended September 30, 2020)* | | |
| | | | | | | | |
| 10.2** | | | | | | Edison International Executive Deferred Compensation Plan, as amended and restated effective June 19, 2014 (as amended) (File No. 1-9936, filed as Exhibit No. 10.7 to Edison International's Form 10-Q for the quarter ended March 31, 2018)* | | |
| | | | | | | | |
| 10.3** | | | | | | Edison International 2008 Executive Deferred Compensation Plan, as amended and restated effective January 1, 2025 (File No. 1-9936, filed as Exhibit 10.3 to Edison International’s Form 10-K for the year ended December 31, 2024)* | | |
| | | | | | | | |
| 10.4** | | | | | | Southern California Edison Company Executive Retirement Plan, as amended effective June 19, 2014 (File No. 1-9936, filed as Exhibit 10.7 to Edison International and SCE's Form 10-Q for the quarter ended June 30, 2014)* | | |
| | | | | | | | |
| 10.5 ** | | | | | | Edison International 2008 Executive Retirement Plan, as amended and restated effective August 27, 2025 (File No. 1-9936, filed as Exhibit 10.2 to Edison International’s Form 10-Q for the quarter ended September 30, 2025)* | | |
| | | | | | | | |
| 10.6** | | | | | | Edison International Executive Incentive Compensation Plan, as amended and restated effective January 1, 2025 (File No. 1-9936, filed as Exhibit 10.5 to Edison International’s Form 10-K for the year ended December 31, 2024)* | | |
| | | | | | | | |
| 10.7** | | | | | | Edison International 2008 Executive Disability Plan, as amended and restated effective January 1, 2025 (File No. 1-9936, filed as Exhibit 10.6 to Edison International’s Form 10-K for the year ended December 31, 2024)* | | |
| | | | | | | | |
| 10.8** | | | | | | Edison International 2007 Performance Incentive Plan, as amended and restated effective April 24, 2025 (incorporated by reference from the Appendix to Edison International’s Definitive Proxy Statement on Schedule 14A filed on March 14, 2025)* | | |
| | | | | | | | |
| 10.8.1** | | | | | | Edison International 2016 Long-Term Incentives Terms and Conditions (File, No. 1-9936, filed as Exhibit 10.4 to Edison International's Form 10-Q for the quarter ended March 31, 2016)* | | |
Table of Contents
| | | | | | | | |
|---|
| Exhibit Number | | | | | | Description | | |
| | | | | | | | |
| 10.8.2** | | | | | | Edison International 2017 Long-Term Incentives Terms and Conditions (File, No. 1-9936, filed as Exhibit 10.2 to Edison International's Form 10-Q for the quarter ended March 31, 2017)* | | |
| | | | | | | | |
| 10.8.3** | | | | | | Edison International 2018 Long-Term Incentives Terms and Conditions (File. No. 1-9936, filed as Exhibit 10.3 to Edison International's Form 10-Q for the quarter ended March 31, 2018)* | | |
| | | | | | | | |
| 10.8.4** | | | | | | Edison International 2019 Long-Term Incentives Terms and Conditions (File, No. 1-9936, filed as Exhibit 10.3 to Edison International's Form 10-Q for the quarter ended March 31, 2019)* | | |
| | | | | | | | |
| 10.8.5** | | | | | | Edison International 2020 Long-Term Incentives Terms and Conditions (File, No. 1-9936, filed as Exhibit 10.4 to Edison International's Form 10-Q for the quarter ended March 31, 2020)* | | |
| | | | | | | | |
| 10.8.6** | | | | | | Edison International 2021 Long-Term Incentives Terms and Conditions (File, No. 1-9936, filed as Exhibit 10.1 to Edison International's Form 10-Q for the quarter ended March 31, 2021)* | | |
| | | | | | | | |
| 10.8.7** | | | | | | Edison International 2022 Long-Term Incentives Terms and Conditions (File, No. 1-9936, filed as Exhibit 10.1 to Edison International's Form 10-Q for the quarter ended March 31, 2022)* | | |
| | | | | | | | |
| 10.8.8** | | | | | | Edison International 2023 Long-Term Incentives Terms and Conditions (File No. 1-9936, filed as Exhibit 10.1 to Edison International’s Form 10-Q for the quarter ended March 31, 2023)* | | |
| | | | | | | | |
| 10.8.9** | | | | | | Edison International 2024 Long-Term Incentives Terms and Conditions (File No 1-9936, filed as Exhibit 10.1 to Edison International’s Form 10-Q for the quarter ended March 31, 2024)* | | |
| | | | | | | | |
| 10.8.10** | | | | | | Form of Long-Term Incentives Award Agreement under the Edison International 2007 Performance Incentive Plan | | |
| | | | | | | | |
| 10.9** | | | | | | Edison International 2008 Executive Severance Plan, as amended and restated effective February 26, 2025 (Filed No. 1-9936, filed as Exhibit 10.3 to Edison International’s Form 10-Q for the quarter ended March 31, 2025)* | | |
| | | | | | | | |
| 10.10** | | | | | | Edison International and Southern California Edison Company Director Compensation Schedule as adopted August 28, 2025 (File No. 1-9936, filed as Exhibit 10.1 to Edison International’s Form 10-Q for the quarter ended September 30, 2025)* | | |
| | | | | | | | |
| 10.11** | | | | | | Edison International Director Matching Gifts Program, as revised effective January 1, 2019 (File No. 1-9936, filed as Exhibit 10.1 to Edison International's Form 10-Q for the quarter ended September 30, 2019)* | | |
| | | | | | | | |
| 10.12 | | | | | | Amended and Restated Agreement for the Allocation of Income Tax Liabilities and Benefits among Edison International, Southern California Edison Company and The Mission Group dated September 10, 1996 (File No. 1-9936, filed as Exhibit 10.3 to Edison International's Form 10-Q for the quarter ended September 30, 2002)* | | |
| | | | | | | | |
| 10.13 | | | | | | Amended and Restated Tax-Allocation Agreement among The Mission Group and its first-tier subsidiaries dated September 10, 1996 (File No. 1-9936, filed as Exhibit 10.3.1 to Edison International's Form 10-Q for the quarter ended September 30, 2002)* | | |
Table of Contents
| | | | | | | | |
|---|
| Exhibit Number | | | | | | Description | | |
| | | | | | | | |
| 10.13.1 | | | | | | Amended and Restated Tax-Allocation Agreement between Mission Energy Holding Company and Edison Mission Energy dated February 13, 2012 (File No. 333-68630, filed as Exhibit 10.11 to Edison Mission Energy's Form 10-K for the year ended December 31, 2011)* | | |
| | | | | | | | |
| 10.13.2 | | | | | | Modification No. 1 to the Amended and Restated Tax-Allocation Agreement between Mission Energy Holding Company and Edison Mission Energy dated February 13, 2012 (File No. 333-68630, filed as Exhibit 10.1 to Edison Mission Energy's Form 8-K dated November 15, 2012 and filed November 21, 2012)* | | |
| | | | | | | | |
| 10.13.3 | | | | | | Amended and Restated Administrative Agreement Re Tax Allocation Payments, dated February 13, 2012, among Edison International and subsidiary parties. (File No. 333-68630, filed as Exhibit 10.12 to Edison Mission Energy's Form 10-K for the year ended December 31, 2011)* | | |
| | | | | | | | |
| 10.14** | | | | | | Form of Indemnity Agreement between Edison International and its Directors and any officer, employee or other agent designated by the Board of Directors (File No. 1-9936, filed as Exhibit 10.5 to Edison International's Form 10-Q for the quarter ended June 30, 2005)* | | |
| | | | | | | | |
| 10.15 | | | | | | Second Amended and Restated Credit Agreement dated as of May 17, 2018 among Edison International, the several banks and other financial institutions from time to time parties thereto, the several agents parties thereto and JPMorgan Chase Bank, N.A., as administrative agent for the lenders. (File No. 1-9936, filed as Exhibit 10.1 to Edison International's Form 8-K dated and filed May 18, 2018)* | | |
| | | | | | | | |
| 10.16 | | | | | | First Amendment, dated as of April 30, 2021, to the Second Amended and Restated Credit Agreement, dated as of May 17, 2018, by and among Edison International, the several banks and other financial institutions party thereto and JPMorgan Chase bank, N.A., as administrative agent. (File No. 1-9936, filed as Exhibit 10.1 to Edison International's Form 8-K dated April 30, 2021 and filed May 6, 2021)* | | |
| | | | | | | | |
| 10.17 | | | | | | Second Amendment, dated as of May 4, 2022, to the Second Amended and Restated Credit Agreement, dated as of May 17, 2018, as amended by the First Amendment, dated as of April 30, 2021, by and among Edison International, the several banks and other financial institutions party thereto and JPMorgan Chase Bank, N.A., as administrative agent (File No. 1-9936, filed as Exhibit 10.1 to Edison International's Form 8-K dated and filed May 4, 2022)* | | |
| | | | | | | | |
| 10.18 | | | | | | Third Amendment, dated as of May 3, 2023, to the Second Amended and Restated Credit Agreement dated as of May 17, 2018, as amended by the First Amendment, dated as of April 30, 2021 and the Second Amendment, dated as of May 4, 2022, by and among Edison International, the several banks and other financial institutions party thereto and JPMorgan Chase Bank, N.A., as administrative agent (File No. 1-9936, filed as Exhibit 10.1 to Edison International’s Form 10-Q for the quarter ended June 30, 2023)* | | |
| | | | | | | | |
| 10.19 | | | | | | Second Amended and Restated Credit Agreement dated as of May 17, 2018 among SCE, the several banks and other financial institutions from time to time parties thereto, the several agents parties thereto and JPMorgan Chase Bank, N.A., as administrative agent for the lenders. (File No. 1-2313, filed as Exhibit 10.2 to SCE's Form 8-K dated and filed May 18, 2018)* | | |
| | | | | | | | |
| 10.20 | | | | | | First Amendment, dated as of April 30, 2021, to the Second Amended and Restated Credit Agreement, dated as of May 17, 2018, by and among Southern California Edison Company, the several banks and other financial institutions party thereto and JPMorgan Chase bank, N.A., as administrative agent. (File No. 1-2313, filed as Exhibit 10.2 to SCE's Form 8-K dated April 30, 2021 and filed May 6, 2021)* | | |
| | | | | | | | |
Table of Contents
| | | | | | | | |
|---|
| Exhibit Number | | | | | | Description | | |
| 10.21 | | | | | | Commitment Increase Supplement, by and among Southern California Edison Company and the lenders named therein, and accepted by JPMorgan Chase Bank, N.A., as administrative agent and the issuing lenders named therein. (File No. 1-2313, filed as Exhibit 10.3 to SCE's Form 8-K dated April 30, 2021 and filed May 6, 2021)* | | |
| | | | | | | | |
| 10.22 | | | | | | Second Amendment, dated as of May 4, 2022, to the Second Amended and Restated Credit Agreement, dated as of May 17, 2018, as amended by the First Amendment, dated as of April 30, 2021, as supplemented by the Commitment Increase Supplement, dated as of April 30, 2021, by and among Southern California Edison Company, the several banks and other financial institutions party thereto and JPMorgan Chase Bank, N.A., as administrative agent (File No. 1-2313, filed as Exhibit 10.2 to SCE's Form 8-K dated and filed May 4, 2022)* | | |
| | | | | | | | |
| 10.23 | | | | | | Third Amendment, dated as of May 3, 2023, to the Second Amended and Restated Credit Agreement dated as of May 17, 2018, as amended by the First Amendment, dated as of April 30, 2021 and the Second Amendment, dated as of May 4, 2022, by and among Southern California Edison, the several banks and other financial institutions party thereto and JPMorgan Chase Bank, N.A., as administrative agent (File No. 1-2313, filed as Exhibit 10.2 to SCE’s Form 10-Q for the quarter ended June 30, 2023)* | | |
| | | | | | | | |
| 10.24 | | | | | | Term Loan Credit Agreement dated as of December 23, 2025, among Edison International, the several banks and other financial institutions from time to time parties thereto and Wells Fargo Bank, National Association, as Administrative Agent (File No. 1-9936, filed as Exhibit 10.1 to Edison International’s Form 8-K dated and filed on December 23, 2025)* | | |
| | | | | | | | |
| 10.25 | | | | | | Term Loan Credit Agreement, dated as of February 11, 2026, among Southern California Edison Company, the several banks and other financial institutions from time to time parties thereto and Wells Fargo Bank, National Association, as Administrative Agent (File No. 1-9936, filed as Exhibit 10.1 to Edison International’s Form 8-K dated and filed on February 11, 2026)* | | |
| | | | | | | | |
| 19.1 | | | | | | Edison International Insider Trading Policy | | |
| | | | | | | | |
| 21.1 | | | | | | Subsidiaries of the Registrants | | |
| | | | | | | | |
| 23.1 | | | | | | Consent of Independent Registered Public Accounting Firm (Edison International) | | |
| | | | | | | | |
| 23.2 | | | | | | Consent of Independent Registered Public Accounting Firm (Southern California Edison Company) | | |
| | | | | | | | |
| 24.1 | | | | | | Powers of Attorney of Edison International and Southern California Edison Company | | |
| | | | | | | | |
| 24.2 | | | | | | Certified copies of Resolutions of Boards of Edison International and Southern California Edison Company Directors Authorizing Execution of SEC Reports | | |
| | | | | | | | |
| 31.1 | | | | | | Certifications of the Chief Executive Officer and Chief Financial Officer of Edison International pursuant to Section 302 of the Sarbanes-Oxley Act | | |
| | | | | | | | |
| 31.2 | | | | | | Certifications of the Chief Executive Officer and Chief Financial Officer of Southern California Edison Company pursuant to Section 302 of the Sarbanes-Oxley Act | | |
| | | | | | | | |
Table of Contents
| | | | | | | | |
|---|
| Exhibit Number | | | | | | Description | | |
| 32.1 | | | | | | Certifications of the Chief Executive Officer and the Chief Financial Officer of Edison International required by Section 906 of the Sarbanes-Oxley Act | | |
| | | | | | | | |
| 32.2 | | | | | | Certifications of the Chief Executive Officer and the Chief Financial Officer of Southern California Edison Company required by Section 906 of the Sarbanes-Oxley Act | | |
| | | | | | | | |
| 97.1 | | | | | | Edison International and Southern California Edison Company Incentive Compensation Recoupment Policy For Accounting Restatements, as amended effective October 2, 2023 (File No. 1-9936, filed as Exhibit 97.1 to Edison International’s Form10-K for the year ended December 31, 2023)* | | |
| | | | | | | | |
| 101.1 | | | | | | Financial statements from the annual report on Form 10-K of Edison International for the year ended December 31, 2025, filed on February 18, 2026, formatted in Inline XBRL: (i) the Consolidated Statements of Income; (ii) the Consolidated Statements of Comprehensive Income; (iii) the Consolidated Balance Sheets; (iv) the Consolidated Statements of Cash Flows; (v) Consolidated Statements of Changes in Equity and (vi) the Notes to Consolidated Financial Statements | | |
| | | | | | | | |
| 101.2 | | | | | | Financial statements from the annual report on Form 10-K of Southern California Edison Company for the year ended December 31, 2025, filed on February 18, 2026, formatted in Inline XBRL: (i) the Consolidated Statements of Income; (ii) the Consolidated Statements of Comprehensive Income; (iii) the Consolidated Balance Sheets; (iv) the Consolidated Statements of Cash Flows; (v) Consolidated Statements of Changes in Equity and (vi) the Notes to Consolidated Financial Statements | | |
| | | | | | | | |
| 104 | | | | | | The cover page of this report formatted in Inline XBRL (included as Exhibit 101) | | |
*Incorporated by reference pursuant to Rule 12b-32.
**Indicates a management contract or compensatory plan or arrangement, as required by Item 15(a)(3).
Edison International and SCE will furnish a copy of any exhibit listed in the accompanying Exhibit Index upon written request and upon payment to Edison International or SCE of their reasonable expenses of furnishing such exhibit, which shall be limited to photocopying charges and, if mailed to the requesting party, the cost of first-class postage.
Table of Contents
SCHEDULES SUPPLEMENTING FINANCIAL STATEMENTS
EDISON INTERNATIONAL
SCHEDULE I – CONDENSED FINANCIAL INFORMATION OF PARENT
CONDENSED BALANCE SHEETS
| | | | | | | | | | | |
|---|
| | | December 31, | | | | | | | | |
| (in millions) | | | 2025 | | | | | | 2024 | | |
| Assets: | | | | | | | | | | | |
| Cash and cash equivalents | | | $ | 1 | | | | | $ | 4 | |
| Other current assets | | | 567 | | | | | | 606 | | |
| Total current assets | | | 568 | | | | | | 610 | | |
| Investments in subsidiaries | | | 23,276 | | | | | | 20,630 | | |
| Deferred income taxes | | | 834 | | | | | | 760 | | |
| Other long-term assets | | | 98 | | | | | | 67 | | |
| Total assets | | | $ | 24,776 | | | | | $ | 22,067 | |
| Liabilities and equity: | | | | | | | | | | | |
| Short-term debt | | | $ | 1,354 | | | | | $ | 445 | |
| Current portion of long-term debt | | | — | | | | | | 800 | | |
| Other current liabilities | | | 676 | | | | | | 639 | | |
| Total current liabilities | | | 2,030 | | | | | | 1,884 | | |
| Long-term debt | | | 4,815 | | | | | | 4,268 | | |
| Other long-term liabilities | | | 352 | | | | | | 350 | | |
| Total equity | | | 17,579 | | | | | | 15,565 | | |
| Total liabilities and equity | | | $ | 24,776 | | | | | $ | 22,067 | |
Table of Contents
EDISON INTERNATIONAL
SCHEDULE I – CONDENSED FINANCIAL INFORMATION OF PARENT
CONDENSED STATEMENTS OF INCOME
For the Years Ended December 31, 2025, 2024 and 2023
| | | | | | | | | | | | | | | | | |
|---|
| (in millions) | | | 2025 | | | | | | 2024 | | | | | | 2023 | | |
| Interest income | | | $ | 3 | | | | | $ | 3 | | | | | $ | 2 | |
| Operating, interest and other expenses | | | 389 | | | | | | 342 | | | | | | 299 | | |
| Loss before equity in earnings of subsidiaries | | | (386) | | | | | | (339) | | | | | | (297) | | |
| Equity in earnings of subsidiaries | | | 4,835 | | | | | | 1,610 | | | | | | 1,498 | | |
| Income before income taxes | | | 4,449 | | | | | | 1,271 | | | | | | 1,201 | | |
| Income tax benefit | | | (108) | | | | | | (100) | | | | | | (83) | | |
| Net income | | | 4,557 | | | | | | 1,371 | | | | | | 1,284 | | |
| Preferred stock dividend requirements of Edison International | | | 98 | | | | | | 87 | | | | | | 87 | | |
| Net income available to Edison International common shareholders | | | $ | 4,459 | | | | | $ | 1,284 | | | | | $ | 1,197 | |
| | | | | | | | | | | | | | | | | |
Table of Contents
CONDENSED STATEMENTS OF COMPREHENSIVE INCOME
For the Years Ended December 31, 2025, 2024 and 2023
| | | | | | | | | | | | | | | | | |
|---|
| (in millions) | | | 2025 | | | | | | 2024 | | | | | | 2023 | | |
| Net income | | | $ | 4,557 | | | | | $ | 1,371 | | | | | $ | 1,284 | |
| Other comprehensive income, net of tax | | | 6 | | | | | | 9 | | | | | | 2 | | |
| Comprehensive income | | | $ | 4,563 | | | | | $ | 1,380 | | | | | $ | 1,286 | |
Table of Contents
EDISON INTERNATIONAL
SCHEDULE I – CONDENSED FINANCIAL INFORMATION OF PARENT
CONDENSED STATEMENTS OF CASH FLOWS
For the Years Ended December 31, 2025, 2024 and 2023
| | | | | | | | | | | | | | | | | |
|---|
| (in millions) | | | 2025 | | | | | | 2024 | | | | | | 2023 | | |
| Net cash provided by operating activities | | | $ | 1,930 | | | | | $ | 1,097 | | | | | $ | 1,148 | |
| Cash flows from financing activities: | | | | | | | | | | | | | | | | | |
| Long-term debt issued | | | 544 | | | | | | 1,049 | | | | | | 1,549 | | |
| Long-term debt issuance costs | | | (4) | | | | | | (7) | | | | | | (16) | | |
| Long-term debt repaid | | | (800) | | | | | | (500) | | | | | | (400) | | |
| Short-term debt issued | | | 850 | | | | | | — | | | | | | 370 | | |
| Short-term debt repaid | | | (101) | | | | | | (15) | | | | | | (1,356) | | |
| Common stock issued | | | 5 | | | | | | 12 | | | | | | 20 | | |
| Common stock repurchased | | | (32) | | | | | | (200) | | | | | | — | | |
| Preferred stock repurchased | | | (1,160) | | | | | | (28) | | | | | | (289) | | |
| Payable due to affiliates | | | — | | | | | | — | | | | | | (3) | | |
| Commercial paper borrowing, net of repayments | | | 158 | | | | | | 214 | | | | | | 139 | | |
| Payments for stock-based compensation | | | (21) | | | | | | (24) | | | | | | (5) | | |
| Receipts for stock-based compensation | | | 22 | | | | | | 206 | | | | | | 71 | | |
| Common stock dividends paid | | | (1,274) | | | | | | (1,198) | | | | | | (1,112) | | |
| Preferred stock dividends paid | | | (104) | | | | | | (88) | | | | | | (108) | | |
| Net cash used in financing activities | | | (1,917) | | | | | | (579) | | | | | | (1,140) | | |
| Cash flows from investing activities: | | | | | | | | | | | | | | | | | |
| Capital contributions to affiliate | | | (16) | | | | | | (516) | | | | | | (15) | | |
| Dividends from affiliate | | | — | | | | | | 1 | | | | | | 4 | | |
| Net cash used in investing activities: | | | (16) | | | | | | (515) | | | | | | (11) | | |
| Net (decrease) increase in cash and cash equivalents | | | (3) | | | | | | 3 | | | | | | (3) | | |
| Cash and cash equivalents, beginning of year | | | 4 | | | | | | 1 | | | | | | 4 | | |
| Cash and cash equivalents, end of year | | | $ | 1 | | | | | $ | 4 | | | | | $ | 1 | |
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Note 1. Basis of Presentation
The accompanying condensed financial statements of Edison International Parent should be read in conjunction with the consolidated financial statements and notes thereto of Edison International and subsidiaries ("Registrant") included in this Form 10-K. Edison International Parent's significant accounting policies are consistent with those of the Registrant, SCE and other wholly owned and controlled subsidiaries.
Dividends Received
Edison International Parent received cash dividends from SCE of $2.2 billion, $1.4 billion, and $1.4 billion in 2025, 2024, and 2023, respectively.
Dividend Restrictions
For information on Edison International Parent dividend restrictions, see "Notes to Consolidated Financial Statements—Note 1. Summary of Significant Accounting Policies—SCE Dividends" and "—Edison International Dividends."
Note 2. Debt and Equity Financing
Long-Term Debt
The following table summarizes Edison International Parent's long-term debt at December 31, 2025:
| | | | | | | | | | | | | | |
|---|
| (in millions) | | | | | | | | | | | | | | |
| 5.75% Senior Note due 2027 | | | $ | 600 | | | | | | | | | | |
| 4.125% Senior Note due 2028 | | | 550 | | | | | | | | | | | |
| 5.25% Senior Note due 2028 | | | 600 | | | | | | | | | | | |
| 6.95% Senior Note due 2029 | | | 550 | | | | | | | | | | | |
| 5.45% Senior Note due 2029 | | | 500 | | | | | | | | | | | |
| 6.25% Senior Note due 2030 | | | 550 | | | | | | | | | | | |
| 5.25% Senior Note due 2032 | | | 550 | | | | | | | | | | | |
| 8.125% Junior Subordinated Note due 2053 | | | 500 | | | | | | | | | | | |
| 7.875% Junior Subordinated Note due 2054 | | | 450 | | | | | | | | | | | |
For information on Edison International Parent's material provisions on long-term debt and credit facility, see "Notes to Consolidated Financial Statements—Note 5. Debt and Credit Agreements—Liens and Security Interests" and "—Credit Agreements and Short-Term Debt."
Common and Preferred Stock
For information on Edison International Parent common stock and preferred stock, see "Notes to Consolidated Financial Statements—Note 14. Equity."
Note 3. Related-Party Transactions
Edison International's Parent expense from services provided by SCE was $2 million for the years ended December 31, 2025, 2024 and 2023. Edison International Parent's interest expense from loans due to affiliates was $2 million for the years ended December 31, 2025, 2024 and 2023. Edison International Parent had current related-party receivables of $565 million and $571 million and current related-party payables of $229 million and $186 million at December 31, 2025 and 2024, respectively. Edison International Parent had long-term related-party payables of $113 million and $98 million at December 31, 2025 and 2024, respectively. For a discussion of Edison International Parent's contribution to Edison International Foundation for the years ended December 31, 2025, 2024 and 2023 see "Notes to Consolidated Financial Statements—Note 17. Related Party Transactions."
Note 4. Contingencies
For a discussion of material contingencies see "Notes to Consolidated Financial Statements—Note 8. Income Taxes" and "—Note 12. Commitments and Contingencies."
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SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned, thereunto duly authorized.
| | | | | | | | | | | | | | |
|---|
| EDISON INTERNATIONAL | | | | | | | | | SOUTHERN CALIFORNIA EDISON COMPANY | | | | | |
| By: | | | /s/ Kara G. Ryan | | | | | | By: | | | /s/ Kara G. Ryan | | |
| | | | | | | | | | | | | | |
| Kara G. Ryan Vice President, Chief Accounting Officer and Controller (Duly Authorized Officer and Principal Accounting Officer) | | | | | | | | | Kara G. Ryan Vice President, Chief Accounting Officer and Controller (Duly Authorized Officer and Principal Accounting Officer) | | | | | |
| | | | | | | | | | | | | | |
| Date: | | | February 18, 2026 | | | | | | Date: | | | February 18, 2026 | | |
Table of Contents
Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrants and in the capacities and on the date indicated.
| | | | | | | | |
|---|
| Signature | | | | | | Title | | |
| A. Principal Executive Officers | | | | | | | | |
| Pedro J. Pizarro* | | | | | | President, Chief Executive Officer and Director (Edison International) | | |
| Steven D. Powell* | | | | | | President and Chief Executive Officer and Director (Southern California Edison Company) | | |
| B. Principal Financial Officers | | | | | | | | |
| Maria Rigatti* | | | | | | Executive Vice President and Chief Financial Officer (Edison International) | | |
| Aaron D. Moss* | | | | | | Senior Vice President and Chief Financial Officer (Southern California Edison Company) | | |
| C. Principal Accounting Officers | | | | | | | | |
| /s/ Kara G. Ryan | | | | | | Vice President, Chief Accounting Officer and Controller (Edison International) | | |
| Kara G. Ryan | | | | | | | | |
| /s/ Kara G. Ryan | | | | | | Vice President, Chief Accounting Officer and Controller (Southern California Edison Company) | | |
| Kara G. Ryan | | | | | | | | |
| D. Directors (Edison International and Southern California Edison Company, unless otherwise noted) | | | | | | | | |
| Jeanne Beliveau-Dunn* | | | | | | Director | | |
| Michael C. Camuñez* | | | | | | Director | | |
| Jennifer M. Granholm* | | | | | | Director | | |
| James T. Morris* | | | | | | Director | | |
| Timothy T. O'Toole* | | | | | | Director | | |
| Pedro J. Pizarro* | | | | | | Director | | |
| Steven D. Powell (SCE only)* | | | | | | Director | | |
| Marcy L. Reed* | | | | | | Director | | |
| Carey A. Smith* | | | | | | Director | | |
| Linda G. Stuntz* | | | | | | Director | | |
| Peter J. Taylor* | | | | | | Chair of the Edison International Board and Director | | |
| Keith Trent* | | | | | | Director | | |
| | | | | | | | | | | |
|---|
| *By: | | | /s/ Kara G. Ryan | | | *By: | | | /s/ Kara G. Ryan | | |
| | | Kara G. Ryan Vice President, Chief Accounting Officer and Controller (Attorney-in-fact for EIX Directors and Officers) | | | | | | Kara G. Ryan Vice President, Chief Accounting Officer and Controller (Attorney-in-fact for SCE Directors and Officers) | | |
| | | | | | | | | | | |
| Date: | | | February 18, 2026 | | | Date: | | | February 18, 2026 | | |