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Midas Edge

EDISON INTERNATIONAL

For the period ended Dec 31, 2025. Filed Feb 18, 2026.

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About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Feb 18, 2026

EIX$59.37-2.5%Stored close · as of Nov 6, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits
Contents

Table of Contents

Reference Number
GLOSSARY · v
FORWARD-LOOKING STATEMENTS1
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS3Part II, Item 7
MANAGEMENT OVERVIEW3
Highlights of Operating Results3
Electricity Industry Trends5
Cost of Capital Application7
Capital Program7
Southern California Wildfires and Mudslides8
RESULTS OF OPERATIONS11
Southern California Edison Company11
Impact of the 2025 GRC11
Years ended December 31, 2025 and 202413
2025 vs 202413
Edison International Parent and Other15
Loss from Operations16
LIQUIDITY AND CAPITAL RESOURCES16
Southern California Edison Company16
Available Liquidity17
Regulatory Proceedings17
Capital Investment Plan18
Decommissioning of San Onofre19
Margin and Collateral Deposits20
Edison International Parent and Other21
Edison International Income Taxes22
Historical Cash Flows22
Southern California Edison Company22
Edison International Parent and Other25
Contractual Obligations and Contingencies26
Contractual Obligations26
Contingencies26
Off-Balance Sheet Arrangements26
MARKET RISK EXPOSURES26
Interest Rate Risk26
Commodity Price Risk27
Investment Price Risk27
Credit Risk28
CRITICAL ACCOUNTING ESTIMATES AND POLICIES28
Accounting for Contingencies28
Rate Regulated Enterprises29
Income Taxes30
Nuclear Decommissioning – Asset Retirement Obligation31

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Pensions and Postretirement Benefits Other than Pensions32
Contributions to the Wildfire Fund33
NEW ACCOUNTING GUIDANCE34
RISK FACTORS34Part I, Item 1A
RISKS RELATING TO EDISON INTERNATIONAL34
RISKS RELATING TO SOUTHERN CALIFORNIA EDISON COMPANY34
Regulatory and Legislative Risks34
Operating Risks36
Financing Risks39
Competitive and Market Risks40
RISKS RELATING TO EDISON INTERNATIONAL AND SOUTHERN CALIFORNIA EDISON COMPANY40
Cybersecurity and Physical Security Risks40
Global and Regional Risks42
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK42Part II, Item 7A
FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA42Part II, Item 8
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM (PCAOB ID 238)43
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM (PCAOB ID 238)46
CONSOLIDATED FINANCIAL STATEMENTS48
Consolidated Statements of Income for Edison International48
Consolidated Statements of Comprehensive Income for Edison International49
Consolidated Balance Sheets for Edison International50
Consolidated Statements of Cash Flows for Edison International52
Consolidated Statements of Changes in Equity for Edison International53
Consolidated Statements of Income for Southern California Edison Company55
Consolidated Statements of Comprehensive Income for Southern California Edison Company55
Consolidated Balance Sheets for Southern California Edison Company56
Consolidated Statements of Cash Flows for Southern California Edison Company58
Consolidated Statements of Changes in Equity for Southern California Edison Company59
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS60
Note 1. Summary of Significant Accounting Policies60
Note 2. Property, Plant and Equipment71
Note 3. Variable Interest Entities71
Note 4. Fair Value Measurements72
Note 5. Debt and Credit Agreements76
Note 6. Derivative Instruments77
Note 7. Revenue79
Note 8. Income Taxes80
Note 9. Compensation and Benefit Plans84
Note 10. Investments97
Note 11. Regulatory Assets and Liabilities97

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Note 12. Commitments and Contingencies101
Note 13. Leases114
Note 14. Equity115
Note 15. Other Income, Net118
Note 16. Supplemental Cash Flows Information118
Note 17. Related-Party Transactions118
CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE120Part II, Item 9
CONTROLS AND PROCEDURES120Part II, Item 9A
BUSINESS121Part I, Item 1
CORPORATE STRUCTURE, INDUSTRY AND OTHER INFORMATION121
Subsidiaries of Edison International121
Regulation of Edison International as a Holding Company121
Human Capital122
Insurance124
SOUTHERN CALIFORNIA EDISON COMPANY124
Regulation124
Overview of Ratemaking Process126
Purchased Power and Fuel Supply128
Competition129
Properties131
Seasonality131
SOUTHERN CALIFORNIA WILDFIRES131
Recovery of Wildfire-Related Costs132
Safety Certification and Wildfire Mitigation Plan134
Public Safety Power Shutoffs134
ENVIRONMENTAL CONSIDERATIONS135
Greenhouse Gas Regulation135
Environmental Risks136
UNRESOLVED STAFF COMMENTS136Part I, Item 1B
CYBERSECURITY136Part I, Item 1C
PROPERTIES137Part I, Item 2
LEGAL PROCEEDINGS137Part I, Item 3
2017/2018 Wildfire/Mudslide Events137
Environmental Proceedings138
MINE SAFETY DISCLOSURES139Part I, Item 4
CERTAIN INFORMATION ABOUT EDISON INTERNATIONAL139
INFORMATION ABOUT OUR EXECUTIVE OFFICERS139Part I
DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE140Part III, Item 10
EXECUTIVE COMPENSATION141Part III, Item 11
SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS141Part III, Item 12
CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE141Part III, Item 13
PRINCIPAL ACCOUNTANT FEES AND SERVICES141Part III, Item 14

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MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES143Part II, Item 5
Edison International143
Southern California Edison Company143
Purchases of Equity Securities by Edison International and Affiliated Purchasers143
Comparison of Five-Year Cumulative Total Return144
OTHER INFORMATION144Part II, Item 9BPart II, Item 6
Insider Trading Arrangements144
DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS144Part II, Item 9C
EXHIBITS AND FINANCIAL STATEMENT SCHEDULES145Part IV, Item 15
EXHIBIT INDEX146
SCHEDULES SUPPLEMENTING FINANCIAL STATEMENTS152
SIGNATURES157

This combined Form 10-K is separately filed by Edison International and SCE. Information contained in this document relating to SCE is filed by Edison International and separately by SCE. SCE makes no representation as to information relating to Edison International or its subsidiaries, except as it may relate to SCE and its subsidiaries.

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.