v3.25.2
Investments
 6 Months Ended
Jun. 30, 2025
Regulated Entity, Other Assets, Noncurrent [Abstract]  
Investments
Note 10. Investments
Future decommissioning costs related to SCE's nuclear assets are expected to be funded from independent decommissioning trusts.
The following table sets forth amortized cost and fair value of the trust investments (see Note 4 for a discussion on fair value of the trust investments):
Amortized CostsFair Values
(in millions)Longest
Maturity Dates		June 30,
2025		December 31,
2024		June 30,
2025		December 31,
2024
Municipal bonds2067$770 $729 $921 $860 
Government and agency securities20741,086 1,201 1,263 1,341 
Corporate bonds2072322 346 380 392 
Short-term investments and receivables/(payables)1
One-year195 152 39 62 
Total debt securities and other$2,373 $2,428 2,603 2,655 
Equity securities1,721 1,631 
Total2
$4,324 $4,286 
1As of June 30, 2025 and December 31, 2024, short-term investments included $120 million and $18 million of repurchase agreement payable by financial institutions which earned interest, were fully secured by U.S. Treasury securities, and mature by July 2, 2025 and January 2, 2025, respectively.
2Represents amounts before reduction for deferred tax liabilities on net unrealized gains of $398 million and $373 million as of June 30, 2025 and December 31, 2024, respectively.
Trust fund earnings (based on specific identification) increase the trust fund balance and the ARO regulatory liability. Unrealized holding gains, net of losses, were $1.8 billion and $1.7 billion at June 30, 2025 and December 31, 2024, respectively.
The following table summarizes the gains and losses for the trust investments:
Three months ended June 30,Six months ended June 30,
(in millions)2025202420252024
Gross realized gains$22 $47 $46 $102 
Gross realized losses(5)(5)(6)(14)
Net unrealized gains/(losses) for equity securities146 (10)86 85 
Due to regulatory mechanisms, changes in the assets of the trusts from income or loss items do not materially affect earnings.