EDISON INTERNATIONAL
For the period ended Dec 31, 2024. Filed Feb 27, 2025.
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FY2024 · Filed Feb 27, 2025
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Interest Rate Risk
Edison International and SCE are exposed to changes in interest rates primarily as a result of financing, investing and borrowing activities used for liquidity purposes, and to fund business operations and capital investments. The nature and amount of Edison International's and SCE's long-term and short-term debt can be expected to vary as a result of future business requirements, market conditions and other factors. Fluctuations in interest rates can affect earnings and cash flows. Changes in interest rates may impact SCE's authorized rate of return for the period beyond 2025 through a CPUC cost of capital proceeding, see "Management Overview—Cost of Capital" and "Business—SCE—Overview of Ratemaking
Process" for further discussion. The following table summarizes the increase or decrease to the fair value of long-term debt including the current portion, if the market interest rates were changed while leaving all other assumptions the same:
| (in millions) | Carrying Value | Fair Value | 10% Increase | 10% Decrease |
|---|---|---|---|---|
| Edison International: | ||||
| December 31, 2024 | $35,583 | $33,160 | $31,845 | $34,596 |
| December 31, 2023 | 33,013 | 31,315 | 30,060 | 32,684 |
| SCE: | ||||
| December 31, 2024 | 30,515 | 27,994 | 26,827 | 29,267 |
| December 31, 2023 | 28,494 | 26,712 | 25,593 | 27,930 |
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