Workpapers - Southern California Edison...The revenue sharing mechanism applies to all of SCE’s...
Transcript of Workpapers - Southern California Edison...The revenue sharing mechanism applies to all of SCE’s...
(U 338-E)
2018 General Rate Case A.16-09-_____
Workpapers
RO-Other Operating Revenue SCE-09 Volume 01, Chapter VIII
September 2016
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D.Snow
90
VIII. 1
OTHER OPERATING REVENUE 2
This chapter presents SCE’s total system Other Operating Revenue (OOR) for recorded year 3
2015 and forecast years 2016 through 2020. OOR are revenues received by SCE from transactions not 4
directly associated with the sale of electric energy and are recorded in FERC Accounts 450 through 456. 5
OOR is subtracted from total operating costs to determine the test year revenue requirement because it 6
reduces the revenue that must be collected through customer rate levels. Part B of this section discusses 7
SCE’s Added Facilities rates used for the 2018 test year. 8
A. Account-By-Account Summary Of OOR 9
OOR recorded amounts for 2015 and forecast amounts for 2016 through 2020 are summarized in 10
Table VIII-35 below.99 11
Table VIII-35 Other Operating Revenue
Nominal ($000)
99 Refer to WP SCE-09 Vol. 1, Chapter VIII, pp. 2-18 for OOR summarized by specific FERC sub-account in
detail that support this section.
Recorded ExhibitLine No.
FERC Account Description 2015 2016 2017 2018 2019 2020 Reference
1. 450.000 - Forfeited Discounts2. Customer Service Operations OOR 17,678 15,145 15,397 15,231 15,231 15,231 SCE-3, Vol. 1, Chapter XI
3. 451.000 - Miscellaneouse Service Revenues4. Customer Service Operations OOR 13,723 10,690 10,623 10,992 10,992 10,992 SCE-3, Vol. 1, Chapter XI5. Transmission & Distribution Business Unit OOR 538 1,059 1,085 1,141 1,141 1,141 SCE-2, Vol. 13, Chapter III
Total 451.000 14,261 11,749 11,708 12,133 12,133 12,133
6. 453.000 - Sales of Water & Water Power7. Financial and Other Miscellaneous Revenues – 147 147 147 147 147 SCE-9, Vol. 1, Chapter VIII
8. 454.000 - Rent from Electric Property9. Transmission & Distribution Business Unit OOR 38,574 41,456 41,663 42,098 42,098 42,098 SCE-2, Vol. 13, Chapter III
10. Financial and Other Miscellaneous Revenues 14,994 15,365 15,365 15,365 15,365 15,365 SCE-2, Vol. 13, Chapter IIITotal 454.000 53,568 56,821 57,028 57,463 57,463 57,463
11. 456.000 - Other Electric Revenue12. Customer Service Operations OOR 316 1,072 2,380 1,413 1,413 1,413 SCE-3, Vol. 1, Chapter XI13. CS&I Tariffed Products and Services OOR 559 553 547 541 541 541 SCE-3, Vol. 1, Chapter XI14. Transmission & Distribution Business Unit OOR 79,086 73,141 73,153 72,099 72,099 72,099 SCE-2, Vol. 13, Chapter III15. Financial and Other Miscellaneous Revenues 33,066 29,844 32,136 39,756 45,088 57,317
, , p ,SCE-2, Vol. 13, Chapter III
Total 456.000 113,027 104,610 108,216 113,809 119,141 131,370
16. Gains/Losses on Sale of Property (643) 452 452 452 452 452 SCE-10, Vol. 2, Chapter I17. Gross Revenue Sharing Mechanism Authorized Threshold 16,672 16,672 16,672 16,672 16,672 16,672 SCE-10, Vol. 2, Chapter I18. Escalation – – – – 3,359 5,55419. TOTAL OOR 214,563 205,596 209,620 215,907 224,598 239,022
Forecast
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Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D.Snow
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1. Revenue Account 450 – Forfeited Discounts 1
This account includes fees imposed on customers because of failure to pay bills. Such 2
fees include forfeited discounts and late payment charges. Forecasts of revenues and descriptions for 3
each sub-account within this FERC account, with support for the estimating method used, are contained 4
in Exhibit SCE-03. The 2018 test year estimate for FERC Account 450 is $15.2 million. 5
2. Revenue Account 451 – Miscellaneous Service Revenues 6
This account includes revenues for all miscellaneous services and charges billed to 7
customers not specifically provided for in other accounts. Such fees include returned check charges and 8
connection charges. Forecasts of revenues and descriptions for each sub-account within the FERC 9
account, with support for the estimating method used, are contained in Exhibit SCE-02, Volume 13, and 10
Exhibit SCE-03. The 2018 test year estimate for FERC Account 451 is $12.1 million. 11
3. Revenue Account 453 – Sales of Water and Power 12
This account includes revenues expected to be received from Big Creek Project 13
headwater benefits. The estimated revenue is based on agreements made between SCE and Pacific Gas 14
& Electric Company (PG&E). Based on the agreements, PG&E pays SCE for the headwater benefits 15
received mainly by a generating station owned by PG&E’s in the San Joaquin basin. The payment to 16
SCE represents PG&E’s share of the costs incurred by SCE to operate and maintain dams and diversions 17
upstream. The 2018 test year estimate for FERC Account 453 is $0.147 million. 18
4. Revenue Account 454 – Rent From Electric Property 19
This account includes rents received for the use by others of land, buildings and other 20
property devoted to electric operations. The majority of the revenues recorded in FERC Account 454 are 21
generated from company-financed added and interconnection facilities (sub-accounts 454.300 and 22
454.350). Exhibit SCE-02, Volume 13 supports the forecast of the Company-financed added facilities 23
revenues. Part B of this Chapter supports the development of added facilities rates for the 2018 Test 24
Year. The total 2018 test year estimate for FERC Account 454 is $57.5 million. 25
5. Revenue Account 456 – Other Electric Revenues 26
The account includes revenues recorded in FERC Account 456.700 that are generated 27
from customer-financed added and interconnection facilities. Exhibit SCE-02, Volume 13 supports the 28
forecast of the Customer-financed added facilities revenues. Part B of this Chapter supports the 29
development of added facilities rates for the 2018 Test Year. In addition, the revenues associated with 30
the tax gross-up on Contributions in Aid of Construction are included in this account as supported in 31
2
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D.Snow
92
Exhibit SCE-09, Volume 2. This account also includes various customer service and CS&I Tariffed 1
Products and Services OOR not included in other accounts. The total 2018 test year estimate for FERC 2
Account 456, including various other miscellaneous sub-accounts as supported in workpapers, is $113.8 3
million. 4
6. Other OOR 5
a) Non-Tariffed Products and Services 6
In D.99-09-070, the Commission adopted SCE’s Gross Revenue Sharing 7
Mechanism (GRSM) for OOR generated from Non-Tariffed Products and Services (NTP&S).100 8
Revenue sharing between SCE’s shareholders and customers occurs when the recorded OOR from the 9
non-tariffed products and services reaches a certain threshold. The authorized OOR threshold is $16.672 10
million.101 Therefore, the $16.672 million threshold is included in the OOR 2018 test year estimate. 11
The Commission in SCE’s 2009 GRC Decision (D.09-03-025) decided that any 12
change to the NTP&S and the related revenue sharing provisions would be subject to a separate 13
rulemaking proceeding. In the 2012 GRC Decision (D.12-11-051), the Commission expressed concern 14
about the recording and reporting of NTP&S incremental costs under the GRSM and noted that related 15
concerns had been discussed in several prior GRCs. However, the Commission did not make any 16
specific changes to the GRSM or SCE’s estimated OOR in that decision, and instead stated that Energy 17
Division’s next affiliated transactions audit should include a detailed review of NTP&S. 18
In the 2015 GRC Decision (D.15-11-021), the Commission found it did not have 19
adequate information to draw strong conclusions about the GRSM or SCE’s recording and reporting of 20
NTP&S incremental costs and agreed with TURN that it is appropriate to place a higher priority on an 21
audit of NTP&S. As discussed in Exhibit SCE-08, Volume 1, the Energy Division retained the 22
independent auditing firm Baker Tilly Virchow Krause, LLP (Baker Tilly) to comprehensively audit 23
SCE’s compliance with the California Affiliate Transaction Rules (ATR) for the years 2010-2011 and, 24
in August 2015, the State Controller’s Office, on behalf of the Energy Division, commenced an audit of 25
100 The revenue sharing mechanism applies to all of SCE’s OOR derived from SCE’s approved NTP&S
categories, except revenue that is: (1) derived from tariffs, fees, or charges established by the Commission or FERC; and, (2) subject to other established ratemaking procedures or mechanisms.
101 The current threshold, as adopted in D.99-09-070, is based on the level of OOR from non-tariffed products and services reflected as a revenue credit in SCE’s 1995 Test Year GRC (D.96-01-011).
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Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D.Snow
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SCE’s affiliate transactions for years 2012-2013.102 SCE is not proposing any changes to the NTP&S 1
and related revenue sharing provisions in this GRC. 2
b) Revenues with Specific Treatment 3
In various decisions and resolution, the Commission has established specific 4
ratemaking treatment for revenues generated from a variety of programs. Since these revenues are 5
returned to customers directly through the operation of memorandum or balancing accounts established 6
to track the programs, they are not included in the GRC. Specific ratemaking treatment includes, but is 7
not limited to, programs such as Research, Development and Demonstration Royalties (RDDR) and 8
revenues related to the labor markup billed to non-utility affiliates and returned to customers through a 9
credit recorded in the BRRBA. 10
c) Gain or Loss on Sale of Property 11
In past GRCs, the Commission ordered SCE to include in OOR the gain or loss on 12
sale of property originating in utility plant FERC Accounts 101 and 103, and transferred to FERC 13
Account 121 (Non-Utility Property) prior to sale. This revenue is to be shared between shareholders and 14
customers based on the time the property was included in rate base. The 2018 test year estimate of 15
revenues attributable to the gain or loss on sale of property is $0.452 million and is supported and 16
developed in Exhibit SCE-09, Volume 2.103 17
B. Added Facilities Rates 18
SCE’s revenue requirement recovers the costs of owning, operating, and maintaining standard 19
facilities. Customers may request facilities in addition to, or in substitution for, the standard facilities 20
that SCE would normally install. SCE may accommodate these requests by building such additional 21
facilities, which are called Added Facilities. Customers are charged for the cost of these additional 22
facilities through Added Facilities rates. Table VIII-36 below summarizes the proposed Added Facilities 23
rates. 24
102 ATR VII governs utilities’ provision of NTP&S. 103 The gains and losses on minor sales of property are allocated between customers and shareholders pursuant to
D.06-05-041 as modified by D.06-12-043.
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Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D.Snow
94
Table VIII-36 Added Facilities Rate Components
The Added Facilities rates reflect the costs of owning, operating, and maintaining the Added 1
Facilities. For calculation, costs have been divided into two cost components: (1) capital-related (or 2
costs of ownership); and (2) O&M-related. The capital-related cost component is derived from the 3
carrying charge rates associated with each FERC account. Developing carrying charge rates is based on 4
current assumptions of rate of return (7.90 percent), 2015 GRC authorized depreciation rates, 5
Administrative and General (A&G) expenses (1.44 percent), Ad Valorem tax (1.28 percent of Assessed 6
Value), Insurance (0.39 percent), Federal income tax (35 percent) and State income tax (8.84 percent). 7
The rate of return is equal to the current authorized return on rate base for 2016. The rate component for 8
O&M has been calculated as the ratio of the most recent ten years’ historical O&M expense and plant-9
in-service relevant to the Added Facilities. 10
Added Facilities are provided under several tariff provisions, depending on the facilities. Under 11
Rule 2, Section H, SCE provides additional transmission and distribution facilities. SCE may either 12
finance Added Facilities (SCE-financed option) or require the customer to finance the Added Facilities 13
(Customer-financed option). The cost of these Added Facilities is recovered through a monthly charge 14
equal to the installed cost of the facilities times the monthly Added Facilities rate applicable to the 15
financing and replacement option. 16
SCE provides Added Facilities with and without replacement coverage. As shown in Table VIII-17
36, the current rates have the following options: (1) SCE-financed with replacement at additional cost, 18
(2) SCE-financed with limited replacement for a 20-year term at no additional cost, (3) SCE-financed 19
SCE Financed Customer FinancedReplacement at Replacement for 20 Yrs Replacement (Perpetuity) Replacement at Replacement for 20 Yrs Replacement (Perpetuity)Additional Cost at No Additional Cost at Additional Cost Additional Cost at No Additional Cost at Additional Cost
Line Rate (%) (%) (%) (%) (%) (%)No. Components (1) (2) (3) (4) (5) (6)
1. Overhead: A&G,2. Ad Val., & Ins. 2.51 2.56 2.77 2.51 2.55 2.753. 4. Return, Depreciation,5. and Income Taxes 10.44 10.44 10.44 – – –6.7. Replacement: – 0.20 1.08 – 0.19 1.088.9. Total 12.95 13.19 14.29 2.51 2.74 3.8310. Average O&M 1.61 1.64 1.78 1.61 1.64 1.7711.12. Annual 14.56 14.84 16.07 4.12 4.38 5.6013. Monthly 1.21 1.24 1.34 0.34 0.37 0.4714.15. One-Time-16. Payment Factor N/A 146.76 201.31 N/A 43.36 70.21
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Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D.Snow
95
with perpetual replacement at no additional cost, (4) Customer-financed with replacement at additional 1
cost, (5) Customer-financed with limited replacement for a 20-year term at no additional cost, and 2
(6) Customer-financed with perpetual replacement at no additional cost. These replacement options 3
address utility and customer obligations to pay for new facilities when the originally installed facilities 4
require replacement. If a customer chooses the rate with replacement at additional cost option, the 5
customer must pay for replacement facilities when needed. If a customer chooses the limited 20-year 6
replacement option, SCE provides replacement with no additional cost to the customer for a period up to 7
20 years. Finally, if a customer chooses the perpetual replacement option, SCE provides replacement 8
facilities at no additional cost to the customer if the customer continues to pay for the Added Facilities. 9
As provided in Rule 2, Section H, when SCE determines the collection of monthly charges to be 10
impractical, the Added Facilities customer must make an equivalent one-time payment in lieu of the 11
monthly charges. The one-time payment equals the net present value of the future payments the 12
customer would otherwise be obligated to pay multiplied by the installed cost of the Added Facilities to 13
calculate a one-time equivalent payment. 14
Under Rule 2, Section J, SCE may finance the monthly capital related charge of Interval 15
Metering and/or Metering Facilities not part of other transmission and distribution facilities installed as 16
Added Facilities under Rule 2, Section H. The rate for the monthly capital-related charge of Interval 17
Metering and/or Metering Facilities under Rule 2, Section J, is 1.73 percent per month. The rate is 18
multiplied by the investment amount of the Interval Metering and/or Metering Facilities. Under Rule 21, 19
SCE may either finance generation interconnection facilities (SCE-financed option) or require the 20
customer to advance the cost of interconnection facilities (Customer-financed option).21
6
2018 General Rate Case Index of Workpapers
SCE-09, Vol. 01, Chapter VIII DOCUMENT PAGE(S)Other Operating Revenue (OOR) Summary 1-2 Other Operating Revenue (OOR) Detail 2011 - 2018 4-5 Recorded Other Operating Revenue (OOR) Detail 2011 - 2015 6-18 Decision No. 99-09-070 19-21 Detail Other Operating Revenue (OOR) Workpapers Facility Cost – Utility – 454 23-33 Labor Markup – Utility – 456 34-44 Non Tariffed Revenues (453) 45-58 Non Tariffed Revenues (454) 59-72 Non Tariffed Revenues (456) 73-86 Utility Subsidiary Earnings (456) 87-97 Added Facility Rates 98-99 Added Facility Rates Components and Assumptions 100 Annual Carrying Charge Calculation by FERC Account 101-165
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
EXHIBIT SCE-09, VOLUME 01CHAPTER VIII
OTHER OPERATING REVENUE
1
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
OTHER OPERATING REVENUE SUMMARY
2
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
Table VIII-252018 GRCOther Operating RevenueNominal ($000)
Recorded ExhibitLine No.
FERC Account Description 2015 2016 2017 2018 2019 2020 Reference
1. 450.000 - Forfeited Discounts2. Customer Service Operations OOR 17,678 15,145 15,397 15,231 15,231 15,231 SCE-3, Vol. 1, Chapter XI
3. 451.000 - Miscellaneouse Service Revenues4. Customer Service Operations OOR 13,723 10,690 10,623 10,992 10,992 10,992 SCE-3, Vol. 1, Chapter XI5. Transmission & Distribution Business Unit OOR 538 1,059 1,085 1,141 1,141 1,141 SCE-2, Vol. 13, Chapter III
Total 451.000 14,261 11,749 11,708 12,133 12,133 12,133
6. 453.000 - Sales of Water & Water Power7. Financial and Other Miscellaneous Revenues – 147 147 147 147 147 SCE-9, Vol. 1, Chapter VIII
8. 454.000 - Rent from Electric Property9. Transmission & Distribution Business Unit OOR 38,574 41,456 41,663 42,098 42,098 42,098 SCE-2, Vol. 13, Chapter III
10. Financial and Other Miscellaneous Revenues 14,994 15,365 15,365 15,365 15,365 15,365 SCE-2, Vol. 13, Chapter IIITotal 454.000 53,568 56,821 57,028 57,463 57,463 57,463
11. 456.000 - Other Electric Revenue12. Customer Service Operations OOR 316 1,072 2,380 1,413 1,413 1,413 SCE-3, Vol. 1, Chapter XI13. CS&I Tariffed Products and Services OOR 559 553 547 541 541 541 SCE-3, Vol. 1, Chapter XI14. Transmission & Distribution Business Unit OOR 79,086 73,141 73,153 72,099 72,099 72,099 SCE-2, Vol. 13, Chapter III15. Financial and Other Miscellaneous Revenues 33,066 29,844 32,136 39,756 45,088 57,317
, , p , SCE-2, Vol. 13, Chapter III
Total 456.000 113,027 104,610 108,216 113,809 119,141 131,370
16. Gains/Losses on Sale of Property (643) 452 452 452 452 452 SCE-9, Vol. 2, Chapter I17. Gross Revenue Sharing Mechanism Authorized Threshold 16,672 16,672 16,672 16,672 16,672 16,672 SCE-9, Vol. 1, Chapter VIII18. Escalation – – – – 3,359 5,55419. TOTAL OOR 214,563 205,596 209,620 215,907 224,598 239,022
Forecast
3
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
OTHER OPERATING REVENUE DETAIL 2011 THROUGH 2018
4
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
2011
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41.
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S12
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)(1
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452
452
452
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($000)
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No
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5
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
RECORDED OTHER OPERATING REVENUE DETAIL
2011 THROUGH 2015
6
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
16,252 17,111 16,121 16,975 17,678 0 0 0 0 0 0 0 0 0 0
16,252 17,111 16,121 16,975 17,678 0 0 0 0 0
16,252 17,111 16,121 16,975 17,678
144,136 29,519 16,050 15,367 14,490 (11) (4) (1) (1) 0
(112,212) (237) (235) (217) (229)31,913 29,278 15,814 15,149 14,261
0 0 0 0 0 31,913 29,278 15,814 15,149 14,261
254 18 147 0 0 0 0 0 0 0
18 129 (147) 0 0 272 147 0 0 0 232 232 232 232 232 504 379 232 232 232
55,836 57,325 56,651 55,494 55,015 0 0 0 0 0
(1,797) (2,466) (1,491) (1,519) (1,447)54,039 54,859 55,160 53,975 53,568 8,816 8,816 8,816 8,816 8,816
62,855 63,675 63,976 62,791 62,384
127,418 222,971 401,875 497,852 552,701 (5,409) (8,899) (3,167) (4,681) (925)
(37,303) (146,561) (319,014) (391,827) (438,749)84,706 67,511 79,694 101,344 113,027 7,624 7,624 7,624 7,624 7,624
92,330 75,135 87,318 108,968 120,651
343,896 326,944 490,844 585,688 639,884 (5,420) (8,903) (3,168) (4,682) (925)
(151,294) (149,135) (320,887) (393,563) (440,425)187,182 168,906 166,789 187,443 198,534 16,672 16,672 16,672 16,672 16,672
356 306 425 1,573 -643204,210 185,884 183,886 205,688 214,563
Other Operating Revenue
2014
Ratemaking Adjustment
2013
Organizational Unit Adjustment
2012
FERC FORM 1
FERC2011
GRSM Threshold
Total Account 454
Subtotal Recorded/Adjusted
Recorded (Nominal $000)
Total Account 450
2015
FERC FORM 1
Ratemaking Adjustment
Total Account 451
Organizational Unit Adjustment
Total Recorded/Adjusted
FERC FORM 1
Total Recorded/AdjustedGRSM Threshold Subtotal Recorded/AdjustedRatemaking AdjustmentOrganizational Unit Adjustment
Subtotal Recorded/AdjustedRatemaking AdjustmentOrganizational Unit AdjustmentFERC FORM 1
Total Account 453
Total Recorded/AdjustedGRSM Threshold Subtotal Recorded/Adjusted
Total Recorded/AdjustedGRSM Threshold
Subtotal Recorded/AdjustedRatemaking AdjustmentOrganizational Unit AdjustmentFERC FORM 1
Total Account 456
Organizational Unit AdjustmentFERC FORM 1
Total 450 through 456
Total Recorded/AdjustedGRSM Threshold
Gains/LossesTotal Recorded/Adjusted
GRSM Threshold Subtotal Recorded/AdjustedRatemaking Adjustment
7
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
2011
2012
2013
2014
2015
6,17
3 6,
262
6,23
0 6,
638
6,59
2 0
0 0
0 0
0 0
0 0
0 6,
173
6,26
2 6,
230
6,63
8 6,
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10,0
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8
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
2011
2012
2013
2014
2015
1,44
2 1,
623
1,57
5 1,
600
1,51
0 0
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9
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
2011
2012
2013
2014
2015
0 0
15
16
14
0 0
0 0
0 0
0 0
0 0
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15
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6,88
2 3,
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10
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
2011
2012
2013
2014
2015
6,06
6 29
0 0
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0 (6
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11
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
2011
2012
2013
2014
2015
(1)
0 0
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3 23
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12
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
2011
2012
2013
2014
2015
35,3
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36,4
53
35,0
50
33,9
35
33,8
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0 0
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FER
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Gen
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13
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
2011
2012
2013
2014
2015
1,79
7 2,
466
1,49
1 1,
519
1,44
7 0
0 0
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(1,7
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(2,4
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14
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
2011
2012
2013
2014
2015
492
484
294
283
283
0 0
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492
484
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4 4
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15
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
2011
2012
2013
2014
2015
1 0
0 0
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17
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Gen
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16
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
2011
2012
2013
2014
2015
306
306
306
306
306
0 0
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306
306
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306
1 0
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FER
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Sp
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17
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
2011
2012
2013
2014
2015
82,2
90
79,9
68
78,3
46
62,0
61
77,7
27
0 0
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18
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
DECISION 99-09-070
19
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
20
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
21
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
DETAIL OOR WORKPAPERS
-FACILITY COST - UTILITY - 454-LABOR MARKUP - UTILITY - 456
-NON TARIFFED REVENUES (451)-NON TARIFFED REVENUES (453)-NON TARIFFED REVENUES (454)-NON TARIFFED REVENUES (456)-UTILITY SUBSIDIARY EARNINGS
22
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
Beginning of Workpapers for:
Activity:
FERC Account: 454 Rent from Electric Property
FACILITY COST - UTILITY - 454
Witness: Douglas A Snow
Forecast Method
Chosen
2015$ (000)
Forecast
2018
Recorded
2015
0 0 Last Recorded YearOOR
Revenues received from the use by others of land, buildings, and other property devoted to electric operations.
Description of Activity:
General Ledger Account numbers included in this activity (See Appendix A for additional detail):
4184815 4184825
23
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
FACILITY COST - UTILITY - 454
454 Rent from Electric Property
Activity:
FERC Account:
Witness: Douglas A Snow
DETERMINATION OF RECORDED/ADJUSTED
FERC Form 1 Recorded Revenue (Nominal $)
Recorded Period
Adjustments - (Nominal$) - see Appendix B
for additional detail
$ (000)
0
4
2011
0
5
2012
0
4
2013
0
0
2014
0
0
2015
4 5 4 0 0 Recorded/Adjusted Revenue - See Appendix
A for additional detail
0
1
2
3
4
5
2011 2012 2013 2014 2015
Recorded Adjusted 2011-2015 (2015$)
-OOR-
24
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
FACILITY COST - UTILITY - 454Activity:
FERC Account: 454 Rent from Electric Property
*** See Appendix B For Additional Detail
= standard deviation (Based on recorded years data)
= R Squared (Based on recorded years data)
0.73
0.87
0.75
Douglas A Snow
2 Recorded Years (2014 - 2015):
Results of Averaging (A2)
0 0 0
sd**
0 OOR
2016 2017 2018 Chosen
3 Recorded Years (2013 - 2015):
Results of Linear Trending (T3) Results of Averaging (A3)
1 1 1 (5) (7) 2
sd**r2*
(3)
Chosen
OOR
4 Recorded Years (2012 - 2015):
Results of Linear Trending (T4) Results of Averaging (A4)
2 2 2 (3) (4) (6) 2
sd**r2* ChosenChosen
Chosen
OOR
5 Recorded Years (2011 - 2015):
Chosen
Results of Linear Trending (T5) Results of Averaging (A5)
3 3 3 (1) (3) (4)
sd**r2* Chosen
OOR
Last Recorded Year (LRY) Itemized Forecast (IF)
0 0 0 0 0 0
Chosen
Forecast Adjustments:
Base Forecast Method Adjustments***
0 0 0 0 0 0
OOR
OOR
* r2
** sd
no
no
no
no
no
no
no
yes no
LRY
Method
Chosen
2
2016 2017 2018 2016 2017 2018
2016 2017 2018 2016 2017 2018
2016 2017 2018 2016 2017 2018
2016 2017 2018 2016 2017 2018
2016 2017 2018 2016 2017 2018
Forecasting Methods - Summary of Results of all Methods Studied - 2015$ (000)
Other Methods:
Witness:
25
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
Activity: FACILITY COST - UTILITY - 454
FERC Account: 454 Rent from Electric Property
Witness: Douglas A Snow
0 0 0
2018 2017 2016
Analysis of Linear Trending Method:
In D.89-12-057, the CPUC stated that if costs have shown a trend in a certain direction over three or more years, the
last year recorded is an appropriate base estimate. Costs in this activity have declined to zero in the last three years,
therefore the last recorded year provides the base for estimating Test Year 2018. See last recorded year analysis
below.
Analysis of Averaging Method:
In D.89-12-057, the CPUC stated that for those accounts which have significant fluctuations in recorded expenses from
year to year, an average of recorded expenses is appropriate. Costs in this activity have declined to zero in the last
three years, therefore averaging is not an appropriate forecast.
Analysis of Last Recorded Year (2015):
In D.89-12-057, the CPUC stated that if recorded expenses in an account have shown a trend in a certain direction over
three or more years, the last recorded year is an appropriate base estimate. Costs in this activity have declined to zero
in the last three years, therefore last recorded year provides the base for estimating Test Year 2018.
Analysis of Itemized Forecast Method:
Not applicable.
Analysis of Forecasting Methods
Last Recorded YearOOR
Method Selected
Forecasting Results
Results:
26
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
0 0 0
$ (000)
Forecast Revenues (Nominal 2015$)
OOR
Total
Change
Prior Year Total
2018 2017 2016 2011 2012 2013 2014
OOR
0 0 0
0 0 0
0
0 0 4 5 4
0 0 0
2015
Recorded Period
Activity:
FERC Account: 454 Rent from Electric Property
FACILITY COST - UTILITY - 454
Witness: Douglas A Snow
0
1
2
3
4
5
2011 2012 2013 2014 2015 2016 2017 2018
Recorded 2011-2015 / Forecast 2016-2018 Nominal$ (000)
27
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
FERC Account: 454 Rent from Electric Property
FACILITY COST - UTILITY - 454Activity:
Douglas A Snow
Included in This Activity
Detail Description of General Ledger Accounts
APPENDIX A
Witness:
28
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
FACILITY COST - UTILITY - 454
454 Rent from Electric Property
Activity:
FERC Account:
Witness: Douglas A Snow
Description of GL Account numbers included in this activity:
4184815 FACILITY COST - UTILITY
Includes revenues related to Utility Subsidiary Facility cost.
4184825 RENT REVENUE - UTILITY
Includes revenues related to Utility Subsidiary Facility cost.
29
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
FACILITY COST - UTILITY - 454
454 Rent from Electric Property
Activity:
FERC Account:
Witness:
Recorded/Adjusted (Nominal 2015$) By GL Account
2015 2014 2013 2012 2011
$ (000)
Douglas A Snow
3 1 0 0 0 FACILITY COST - UTILITY4184815
1 4 4 0 0 RENT REVENUE - UTILITY4184825
Total 0 0 4 5 4
** Due to rounding, totals may not tie to other workpaper pages.
30
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
454 Rent from Electric PropertyFERC Account:
FACILITY COST - UTILITY - 454Activity:
Witness: Douglas A Snow
Adjustments to Recorded
Detail of Total Company
APPENDIX B
31
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
FACILITY COST - UTILITY - 454
454 Rent from Electric Property
Activity:
FERC Account:
Witness: Douglas A Snow
Detail of Adjustments to Recorded OOR
Adjs - (Nominal $)
2018 2017 2016 2014 2013 2012 2011 2015
$ (000)
0 0 0 0 0 0 0 0 OOR
32
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
End of Workpapers for:
FERC Account: 454 Rent from Electric Property
FACILITY COST - UTILITY - 454Activity:
En
d o
f Wo
rkp
ap
ers
Witness: Douglas A Snow
33
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
Beginning of Workpapers for:
Activity:
FERC Account: 456 Other Electric Revenues
LABOR MARKUP - UTILITY - 456
Witness: Douglas A Snow
Forecast Method
Chosen
2015$ (000)
Forecast
2018
Recorded
2015
0 0 Last Recorded YearOOR
Markup on SCE labor when work is done for utility subsidiaries.
Description of Activity:
General Ledger Account numbers included in this activity (See Appendix A for additional detail):
4186150
34
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
LABOR MARKUP - UTILITY - 456
456 Other Electric Revenues
Activity:
FERC Account:
Witness: Douglas A Snow
DETERMINATION OF RECORDED/ADJUSTED
FERC Form 1 Recorded Revenue (Nominal $)
Recorded Period
Adjustments - (Nominal$) - see Appendix B
for additional detail
$ (000)
0
1
2011
0
0
2012
0
0
2013
0
0
2014
0
0
2015
1 0 0 0 0 Recorded/Adjusted Revenue - See Appendix
A for additional detail
0.0
0.2
0.4
0.6
0.8
1.0
2011 2012 2013 2014 2015
Recorded Adjusted 2011-2015 (2015$)
-OOR-
35
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
LABOR MARKUP - UTILITY - 456Activity:
FERC Account: 456 Other Electric Revenues
*** See Appendix B For Additional Detail
= standard deviation (Based on recorded years data)
= R Squared (Based on recorded years data)
0.50
0.00
0.00
Douglas A Snow
2 Recorded Years (2014 - 2015):
Results of Averaging (A2)
0 0 0
sd**
0 OOR
2016 2017 2018 Chosen
3 Recorded Years (2013 - 2015):
Results of Linear Trending (T3) Results of Averaging (A3)
0 0 0 0 0 0
sd**r2*
0
Chosen
OOR
4 Recorded Years (2012 - 2015):
Results of Linear Trending (T4) Results of Averaging (A4)
0 0 0 0 0 0 0
sd**r2* ChosenChosen
Chosen
OOR
5 Recorded Years (2011 - 2015):
Chosen
Results of Linear Trending (T5) Results of Averaging (A5)
0 0 0 0 (1) (1)
sd**r2* Chosen
OOR
Last Recorded Year (LRY) Itemized Forecast (IF)
0 0 0 0 0 0
Chosen
Forecast Adjustments:
Base Forecast Method Adjustments***
0 0 0 0 0 0
OOR
OOR
* r2
** sd
no
no
no
no
no
no
no
yes no
LRY
Method
Chosen
0
2016 2017 2018 2016 2017 2018
2016 2017 2018 2016 2017 2018
2016 2017 2018 2016 2017 2018
2016 2017 2018 2016 2017 2018
2016 2017 2018 2016 2017 2018
Forecasting Methods - Summary of Results of all Methods Studied - 2015$ (000)
Other Methods:
Witness:
36
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
Activity: LABOR MARKUP - UTILITY - 456
FERC Account: 456 Other Electric Revenues
Witness: Douglas A Snow
0 0 0
2018 2017 2016
Analysis of Linear Trending Method:
In D.89-12-057, the CPUC stated that if costs have shown a trend in a certain direction over three or more years, the
last year recorded is an appropriate base estimate. Costs in this activity have been stable, therefore last recorded year
provides the base for estimating Test Year 2018.
Analysis of Averaging Method:
In D.89-12-057, the CPUC stated that for those accounts which have significant fluctuations in recorded expenses from
year to year, an average of recorded expenses is appropriate. Costs in this activity have been stable, therefore
averaging is not an appropriate forecast.
Analysis of Last Recorded Year (2015):
In D.89-12-057, the CPUC stated that if recorded expenses in an account have been relatively stable for three or more
years, the last recorded year is an appropriate base estimate. Costs in this activity have been stable, therefore the last
recorded year provides the base for estimating Test Year 2018.
Analysis of Itemized Forecast Method:
Not applicable.
Analysis of Forecasting Methods
Last Recorded YearOOR
Method Selected
Forecasting Results
Results:
37
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
0 0 0
$ (000)
Forecast Revenues (Nominal 2015$)
OOR
Total
Change
Prior Year Total
2018 2017 2016 2011 2012 2013 2014
OOR
0 0 0
0 0 0
0
0 0 0 0 1
0 0 0
2015
Recorded Period
Activity:
FERC Account: 456 Other Electric Revenues
LABOR MARKUP - UTILITY - 456
Witness: Douglas A Snow
0.0
0.2
0.4
0.6
0.8
1.0
2011 2012 2013 2014 2015 2016 2017 2018
Recorded 2011-2015 / Forecast 2016-2018 Nominal$ (000)
38
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
FERC Account: 456 Other Electric Revenues
LABOR MARKUP - UTILITY - 456Activity:
Douglas A Snow
Included in This Activity
Detail Description of General Ledger Accounts
APPENDIX A
Witness:
39
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
LABOR MARKUP - UTILITY - 456
456 Other Electric Revenues
Activity:
FERC Account:
Witness: Douglas A Snow
Description of GL Account numbers included in this activity:
4186150 UTILITY SUBSIDIARIES LABOR MARKUP
Represents the charges to utility subsidiaries for directly requested services performed by SCE
departments.
40
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
LABOR MARKUP - UTILITY - 456
456 Other Electric Revenues
Activity:
FERC Account:
Witness:
Recorded/Adjusted (Nominal 2015$) By GL Account
2015 2014 2013 2012 2011
$ (000)
Douglas A Snow
1 0 0 0 0 UTILITY SUBSIDIARIES LABOR MARKUP4186150
Total 0 0 0 0 1
** Due to rounding, totals may not tie to other workpaper pages.
41
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
456 Other Electric RevenuesFERC Account:
LABOR MARKUP - UTILITY - 456Activity:
Witness: Douglas A Snow
Adjustments to Recorded
Detail of Total Company
APPENDIX B
42
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
LABOR MARKUP - UTILITY - 456
456 Other Electric Revenues
Activity:
FERC Account:
Witness: Douglas A Snow
Detail of Adjustments to Recorded OOR
Adjs - (Nominal $)
2018 2017 2016 2014 2013 2012 2011 2015
$ (000)
0 0 0 0 0 0 0 0 OOR
43
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
End of Workpapers for:
FERC Account: 456 Other Electric Revenues
LABOR MARKUP - UTILITY - 456Activity:
En
d o
f Wo
rkp
ap
ers
Witness: Douglas A Snow
44
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
Beginning of Workpapers for:
Activity:
FERC Account: 453 Sales of Water and Water Power
NON TARIFFED REVENUES (453)
Forecast Method
Chosen
2015$ (000)
Forecast
2018
Recorded
2015
232 232 Last Recorded YearOOR
Non Tariffed Revenues includes revenues derived from the sale of water for irrigation, domestic, industrial or other uses
which are subject to the Gross Revenue Sharing Mechanism.
Douglas A Snow
Description of Activity:
Witness:
See Appendix C for GL Account Numbers included in this activity.
45
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
NON TARIFFED REVENUES (453)
453 Sales of Water and Water Power
Activity:
FERC Account:
Witness: Douglas A Snow
DETERMINATION OF RECORDED/ADJUSTED
FERC Form 1 Recorded Revenue (Nominal $)
Recorded Period
Adjustments - (Nominal$) - see Appendix B
for additional detail
$ (000)
233
(1)
2011
232
0
2012
232
0
2013
232
0
2014
232
0
2015
232 232 232 232 232 Recorded/Adjusted Revenue - See Appendix
A for additional detail
0
40
80
120
160
200
240
2011 2012 2013 2014 2015
Recorded Adjusted 2011-2015 (2015$)
-OOR-
46
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
NON TARIFFED REVENUES (453)Activity:
FERC Account: 453 Sales of Water and Water Power
*** See Appendix B For Additional Detail
= standard deviation (Based on recorded years data)
= R Squared (Based on recorded years data)
0.00
0.00
0.00
Douglas A Snow
2 Recorded Years (2014 - 2015):
Results of Averaging (A2)
232 232 232
sd**
0 OOR
2016 2017 2018 Chosen
3 Recorded Years (2013 - 2015):
Results of Linear Trending (T3) Results of Averaging (A3)
232 232 232 232 232 0
sd**r2*
232
Chosen
OOR
4 Recorded Years (2012 - 2015):
Results of Linear Trending (T4) Results of Averaging (A4)
232 232 232 232 232 232 0
sd**r2* ChosenChosen
Chosen
OOR
5 Recorded Years (2011 - 2015):
Chosen
Results of Linear Trending (T5) Results of Averaging (A5)
232 232 232 232 232 232
sd**r2* Chosen
OOR
Last Recorded Year (LRY) Itemized Forecast (IF)
232 232 232 0 0 0
Chosen
Forecast Adjustments:
Base Forecast Method Adjustments***
232 232 232 0 0 0
OOR
OOR
* r2
** sd
no
no
no
no
no
no
no
yes no
LRY
Method
Chosen
0
2016 2017 2018 2016 2017 2018
2016 2017 2018 2016 2017 2018
2016 2017 2018 2016 2017 2018
2016 2017 2018 2016 2017 2018
2016 2017 2018 2016 2017 2018
Forecasting Methods - Summary of Results of all Methods Studied - 2015$ (000)
Other Methods:
Witness:
47
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
Activity: NON TARIFFED REVENUES (453)
FERC Account: 453 Sales of Water and Water Power
Witness: Douglas A Snow
232 232 232
2018 2017 2016
Analysis of Linear Trending Method:
Not applicable.
Analysis of Averaging Method:
Not applicable.
Analysis of Last Recorded Year (2015):
The last recorded year represents the Gross Revenue Sharing Mechanism threshold that is returned to customers
through the GRC revenue requirement pursuant to D.99-09-070.
Analysis of Itemized Forecast Method:
Not applicable.
Analysis of Forecasting Methods
Last Recorded YearOOR
Method Selected
Forecasting Results
Results:
48
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
232 232 232
$ (000)
Forecast Revenues (Nominal 2015$)
OOR
Total
Change
Prior Year Total
2018 2017 2016 2011 2012 2013 2014
OOR
232 232 232
232 232 232
232
232 232 232 232 232
0 0 0
2015
Recorded Period
Activity:
FERC Account: 453 Sales of Water and Water Power
NON TARIFFED REVENUES (453)
Witness: Douglas A Snow
0
40
80
120
160
200
240
2011 2012 2013 2014 2015 2016 2017 2018
Recorded 2011-2015 / Forecast 2016-2018 Nominal$ (000)
49
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
FERC Account: 453 Sales of Water and Water Power
NON TARIFFED REVENUES (453)Activity:
Douglas A Snow
Included in This Activity
Detail Description of General Ledger Accounts
APPENDIX A
Witness:
50
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
NON TARIFFED REVENUES (453)
453 Sales of Water and Water Power
Activity:
FERC Account:
Witness: Douglas A Snow
Description of GL Account numbers included in this activity:
* See Appendix C for Summary GL Account Numbers
*SUMMARY OTHER OPERATING REVENUE (OOR) RELATED EXPENSE
These expenses are related to Other Operating Revenue.
51
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
NON TARIFFED REVENUES (453)
453 Sales of Water and Water Power
Activity:
FERC Account:
Witness:
Recorded/Adjusted (Nominal 2015$) By GL Account
2015 2014 2013 2012 2011
$ (000)
Douglas A Snow
* See Appendix C for Summary GL Account Numbers
232 232 232 232 232 OTHER OPERATING REVENUE
(OOR) RELATED EXPENSE
*SUMMARY
Total 232 232 232 232 232
** Due to rounding, totals may not tie to other workpaper pages.
52
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
453 Sales of Water and Water PowerFERC Account:
NON TARIFFED REVENUES (453)Activity:
Witness: Douglas A Snow
Adjustments to Recorded
Detail of Total Company
APPENDIX B
53
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
NON TARIFFED REVENUES (453)
453 Sales of Water and Water Power
Activity:
FERC Account:
Witness: Douglas A Snow
Detail of Adjustments to Recorded OOR
Adjs - (Nominal $)
2018 2017 2016 2014 2013 2012 2011 2015
$ (000)
233 232 232 232 232 0 0 0 OOR
This adjustment removes recorded revenues associated with the Gross Revenue Sharing Mechanism (GRSM).
GRC-DAT-CW-GRSMCompany Wide Adjustment 1
0 0 0 0 0 0 0 1 OOR
This adjustment reflects the gross revenue sharing threshold amount for this FERC account.
GRC-DAT-CW-AUTHORIZED GRSMCompany Wide Adjustment 2
0 0 0 232 232 232 232 232 OOR
54
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
FERC Account: 453 Sales of Water and Water Power
Activity: NON TARIFFED REVENUES (453)
Witness: Douglas A Snow
Included in This Activity
Detail Description of General Ledger Accounts
APPENDIX C
55
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
453 Sales of Water and Water PowerFERC Account:
NON TARIFFED REVENUES (453)Activity:
Witness:
*Summary GL Account Numbers:
GL Account Numbers included in this Activity:
Douglas A Snow
OTHER OPERATING REVENUE (OOR) RELATED EXPENSE
3000090 6012010 6012015 6012025 6012040 6012065 8010000 8010001 8010003 8010004
8010006 8010008 8010014 8030010
56
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
FERC Account: 453 Sales of Water and Water Power
Activity: NON TARIFFED REVENUES (453)
Individual GL Account Numbers:
Witness: Douglas A Snow
57
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
End of Workpapers for:
FERC Account: 453 Sales of Water and Water Power
NON TARIFFED REVENUES (453)Activity:
En
d o
f Wo
rkp
ap
ers
Witness: Douglas A Snow
58
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
Beginning of Workpapers for:
Activity:
FERC Account: 454 Rent from Electric Property
NON TARIFFED REVENUES (454)
Forecast Method
Chosen
2015$ (000)
Forecast
2018
Recorded
2015
8,816 8,816 Last Recorded YearOOR
Non Tariffed Revenues includes rents received for the use by others of land, buildings and other property devoted to electric
operations by the utility which are subject to the Gross Revenue Sharing Mechanism.
Douglas A Snow
Description of Activity:
Witness:
See Appendix C for GL Account Numbers included in this activity.
59
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
NON TARIFFED REVENUES (454)
454 Rent from Electric Property
Activity:
FERC Account:
Witness: Douglas A Snow
DETERMINATION OF RECORDED/ADJUSTED
FERC Form 1 Recorded Revenue (Nominal $)
Recorded Period
Adjustments - (Nominal$) - see Appendix B
for additional detail
$ (000)
(11,025)
19,841
2011
(14,172)
22,988
2012
(12,697)
21,513
2013
(12,852)
21,668
2014
(13,645)
22,461
2015
8,816 8,816 8,816 8,816 8,816 Recorded/Adjusted Revenue - See Appendix
A for additional detail
0
2,000
4,000
6,000
8,000
10,000
2011 2012 2013 2014 2015
Recorded Adjusted 2011-2015 (2015$)
-OOR-
60
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
NON TARIFFED REVENUES (454)Activity:
FERC Account: 454 Rent from Electric Property
*** See Appendix B For Additional Detail
= standard deviation (Based on recorded years data)
= R Squared (Based on recorded years data)
0.00
0.00
0.00
Douglas A Snow
2 Recorded Years (2014 - 2015):
Results of Averaging (A2)
8,816 8,816 8,816
sd**
0 OOR
2016 2017 2018 Chosen
3 Recorded Years (2013 - 2015):
Results of Linear Trending (T3) Results of Averaging (A3)
8,816 8,816 8,816 8,816 8,816 0
sd**r2*
8,816
Chosen
OOR
4 Recorded Years (2012 - 2015):
Results of Linear Trending (T4) Results of Averaging (A4)
8,816 8,816 8,816 8,816 8,816 8,816 0
sd**r2* ChosenChosen
Chosen
OOR
5 Recorded Years (2011 - 2015):
Chosen
Results of Linear Trending (T5) Results of Averaging (A5)
8,816 8,816 8,816 8,816 8,816 8,816
sd**r2* Chosen
OOR
Last Recorded Year (LRY) Itemized Forecast (IF)
8,816 8,816 8,816 0 0 0
Chosen
Forecast Adjustments:
Base Forecast Method Adjustments***
8,816 8,816 8,816 0 0 0
OOR
OOR
* r2
** sd
no
no
no
no
no
no
no
yes no
LRY
Method
Chosen
0
2016 2017 2018 2016 2017 2018
2016 2017 2018 2016 2017 2018
2016 2017 2018 2016 2017 2018
2016 2017 2018 2016 2017 2018
2016 2017 2018 2016 2017 2018
Forecasting Methods - Summary of Results of all Methods Studied - 2015$ (000)
Other Methods:
Witness:
61
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
Activity: NON TARIFFED REVENUES (454)
FERC Account: 454 Rent from Electric Property
Witness: Douglas A Snow
8,816 8,816 8,816
2018 2017 2016
Analysis of Linear Trending Method:
Not applicable.
Analysis of Averaging Method:
Not applicable.
Analysis of Last Recorded Year (2015):
The last recorded year represents the Gross Revenue Sharing Mechanism threshold that is returned to customers
through the GRC revenue requirement pursuant to D.99-09-070.
Analysis of Itemized Forecast Method:
Not applicable.
Analysis of Forecasting Methods
Last Recorded YearOOR
Method Selected
Forecasting Results
Results:
62
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
8,816 8,816 8,816
$ (000)
Forecast Revenues (Nominal 2015$)
OOR
Total
Change
Prior Year Total
2018 2017 2016 2011 2012 2013 2014
OOR
8,816 8,816 8,816
8,816 8,816 8,816
8,816
8,816 8,816 8,816 8,816 8,816
0 0 0
2015
Recorded Period
Activity:
FERC Account: 454 Rent from Electric Property
NON TARIFFED REVENUES (454)
Witness: Douglas A Snow
0
2,000
4,000
6,000
8,000
10,000
2011 2012 2013 2014 2015 2016 2017 2018
Recorded 2011-2015 / Forecast 2016-2018 Nominal$ (000)
63
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
FERC Account: 454 Rent from Electric Property
NON TARIFFED REVENUES (454)Activity:
Douglas A Snow
Included in This Activity
Detail Description of General Ledger Accounts
APPENDIX A
Witness:
64
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
NON TARIFFED REVENUES (454)
454 Rent from Electric Property
Activity:
FERC Account:
Witness: Douglas A Snow
Description of GL Account numbers included in this activity:
* See Appendix C for Summary GL Account Numbers
*SUMMARY OPERATING LAND & FACILITIES RENT REVENUE - NON - PASSIVE
Includes revenues related to secondary land use.
*SUMMARY OTHER OPERATING REVENUE (OOR) RELATED EXPENSE
These expenses are related to Other Operating Revenue.
4184510 JOINT POLE - NON - TARIFFED POLE RENTAL
Includes revenues relating to joint pole third party rentals.
4184512 JOINT POLE - NON - TARIFF PROCESS & ENGINEERING FEES
Includes revenues relating to joint pole third party rentals.
4184514 JOINT POLE - NON - TARIFF REQUESTS FOR INFORMATION
Includes revenues relating to joint pole third party rentals.
4184516 OIL AND GAS ROYALTIES
Includes revenues related to oil and gas royalties.
4184518 DEFERRED OPERATIONS LAND/FACILITY RENT
Includes deferred revenues for secondary land use that has not been earned.
4184820 RENT BILLED TO NON - UTILITY AFFILIATES
Includes revenues related to Non Utility Facility costs.
4194110 METER LEASING REVENUE
This general ledger account records the revenue SCE receives for interval meters and/or meter facilities,
which are in addition to or in substitution for standard equipment for the customer's use, consistent with Rule
2J and Rate Schedule CC-SF of SCE's tariffs.
4206515 OPERATING MISCELLANEOUS LAND & FACILITIES REVENUE
Includes revenues related to secondary land use.
65
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
NON TARIFFED REVENUES (454)
454 Rent from Electric Property
Activity:
FERC Account:
Witness:
Recorded/Adjusted (Nominal 2015$) By GL Account
2015 2014 2013 2012 2011
$ (000)
Douglas A Snow
* See Appendix C for Summary GL Account Numbers
0 0 0 0 0 OPERATING LAND & FACILITIES
RENT REVENUE - NON - PASSIVE
*SUMMARY
0 0 0 0 0 OTHER OPERATING REVENUE
(OOR) RELATED EXPENSE
*SUMMARY
0 0 0 0 0 JOINT POLE - NON - TARIFFED
POLE RENTAL
4184510
0 0 0 0 0 JOINT POLE - NON - TARIFF
PROCESS & ENGINEERING FEES
4184512
0 0 0 0 0 JOINT POLE - NON - TARIFF
REQUESTS FOR INFORMATION
4184514
0 0 0 0 0 OIL AND GAS ROYALTIES4184516
0 0 0 0 0 DEFERRED OPERATIONS
LAND/FACILITY RENT
4184518
8,816 8,816 8,816 8,816 8,816 RENT BILLED TO NON - UTILITY
AFFILIATES
4184820
0 0 0 0 0 METER LEASING REVENUE4194110
0 0 0 0 0 OPERATING MISCELLANEOUS
LAND & FACILITIES REVENUE
4206515
Total 8,816 8,816 8,816 8,816 8,816
** Due to rounding, totals may not tie to other workpaper pages.
66
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
454 Rent from Electric PropertyFERC Account:
NON TARIFFED REVENUES (454)Activity:
Witness: Douglas A Snow
Adjustments to Recorded
Detail of Total Company
APPENDIX B
67
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
NON TARIFFED REVENUES (454)
454 Rent from Electric Property
Activity:
FERC Account:
Witness: Douglas A Snow
Detail of Adjustments to Recorded OOR
Adjs - (Nominal $)
2018 2017 2016 2014 2013 2012 2011 2015
$ (000)
(11,025) (14,172) (12,697) (12,852) (13,645) 0 0 0 OOR
This adjustment removes recorded revenues associated with the Gross Revenue Sharing Mechanism (GRSM).
GRC-DAT-CW-GRSMCompany Wide Adjustment 1
0 0 0 (22,461)(21,668)(21,513)(22,988)(19,841)OOR
This adjustment reflects the gross revenue sharing threshold amount for this FERC account.
GRC-DAT-CW-AUTHORIZED GRSMCompany Wide Adjustment 2
0 0 0 8,816 8,816 8,816 8,816 8,816 OOR
68
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
FERC Account: 454 Rent from Electric Property
Activity: NON TARIFFED REVENUES (454)
Witness: Douglas A Snow
Included in This Activity
Detail Description of General Ledger Accounts
APPENDIX C
69
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
454 Rent from Electric PropertyFERC Account:
NON TARIFFED REVENUES (454)Activity:
Witness:
*Summary GL Account Numbers:
GL Account Numbers included in this Activity:
Douglas A Snow
OPERATING LAND & FACILITIES RENT REVENUE - NON - PASSIVE
4204515 4867020
OTHER OPERATING REVENUE (OOR) RELATED EXPENSE
6120085 6158045 6170040 8010020 8030010
70
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
FERC Account: 454 Rent from Electric Property
Activity: NON TARIFFED REVENUES (454)
Individual GL Account Numbers:
Witness: Douglas A Snow
4184510 4184512 4184514 4184516 4184518 4184820 4194110 4206515
71
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
End of Workpapers for:
FERC Account: 454 Rent from Electric Property
NON TARIFFED REVENUES (454)Activity:
En
d o
f Wo
rkp
ap
ers
Witness: Douglas A Snow
72
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
Beginning of Workpapers for:
Activity:
FERC Account: 456 Other Electric Revenues
NON TARIFFED REVENUES (456)
Forecast Method
Chosen
2015$ (000)
Forecast
2018
Recorded
2015
7,624 7,624 Last Recorded YearOOR
Non Tariffed Revenues includes revenues derived from electric operations not included in any other accounts which are
subject to the Gross Revenue Sharing Mechanism.
Douglas A Snow
Description of Activity:
Witness:
See Appendix C for GL Account Numbers included in this activity.
73
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
NON TARIFFED REVENUES (456)
456 Other Electric Revenues
Activity:
FERC Account:
Witness: Douglas A Snow
DETERMINATION OF RECORDED/ADJUSTED
FERC Form 1 Recorded Revenue (Nominal $)
Recorded Period
Adjustments - (Nominal$) - see Appendix B
for additional detail
$ (000)
4,227
3,397
2011
5,340
2,284
2012
4,352
3,272
2013
(10,035)
17,659
2014
4,984
2,640
2015
7,624 7,624 7,624 7,624 7,624 Recorded/Adjusted Revenue - See Appendix
A for additional detail
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
2011 2012 2013 2014 2015
Recorded Adjusted 2011-2015 (2015$)
-OOR-
74
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
NON TARIFFED REVENUES (456)Activity:
FERC Account: 456 Other Electric Revenues
*** See Appendix B For Additional Detail
= standard deviation (Based on recorded years data)
= R Squared (Based on recorded years data)
0.00
0.00
0.00
Douglas A Snow
2 Recorded Years (2014 - 2015):
Results of Averaging (A2)
7,624 7,624 7,624
sd**
0 OOR
2016 2017 2018 Chosen
3 Recorded Years (2013 - 2015):
Results of Linear Trending (T3) Results of Averaging (A3)
7,624 7,624 7,624 7,624 7,624 0
sd**r2*
7,624
Chosen
OOR
4 Recorded Years (2012 - 2015):
Results of Linear Trending (T4) Results of Averaging (A4)
7,624 7,624 7,624 7,624 7,624 7,624 0
sd**r2* ChosenChosen
Chosen
OOR
5 Recorded Years (2011 - 2015):
Chosen
Results of Linear Trending (T5) Results of Averaging (A5)
7,624 7,624 7,624 7,624 7,624 7,624
sd**r2* Chosen
OOR
Last Recorded Year (LRY) Itemized Forecast (IF)
7,624 7,624 7,624 0 0 0
Chosen
Forecast Adjustments:
Base Forecast Method Adjustments***
7,624 7,624 7,624 0 0 0
OOR
OOR
* r2
** sd
no
no
no
no
no
no
no
yes no
LRY
Method
Chosen
0
2016 2017 2018 2016 2017 2018
2016 2017 2018 2016 2017 2018
2016 2017 2018 2016 2017 2018
2016 2017 2018 2016 2017 2018
2016 2017 2018 2016 2017 2018
Forecasting Methods - Summary of Results of all Methods Studied - 2015$ (000)
Other Methods:
Witness:
75
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
Activity: NON TARIFFED REVENUES (456)
FERC Account: 456 Other Electric Revenues
Witness: Douglas A Snow
7,624 7,624 7,624
2018 2017 2016
Analysis of Linear Trending Method:
Not applicable.
Analysis of Averaging Method:
Not applicable.
Analysis of Last Recorded Year (2015):
The last recorded year represents the Gross Revenue Sharing Mechanism threshold that is returned to customers
through the GRC revenue requirement pursuant to D.99-09-070.
Analysis of Itemized Forecast Method:
Not applicable.
Analysis of Forecasting Methods
Last Recorded YearOOR
Method Selected
Forecasting Results
Results:
76
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
7,624 7,624 7,624
$ (000)
Forecast Revenues (Nominal 2015$)
OOR
Total
Change
Prior Year Total
2018 2017 2016 2011 2012 2013 2014
OOR
7,624 7,624 7,624
7,624 7,624 7,624
7,624
7,624 7,624 7,624 7,624 7,624
0 0 0
2015
Recorded Period
Activity:
FERC Account: 456 Other Electric Revenues
NON TARIFFED REVENUES (456)
Witness: Douglas A Snow
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
2011 2012 2013 2014 2015 2016 2017 2018
Recorded 2011-2015 / Forecast 2016-2018 Nominal$ (000)
77
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
FERC Account: 456 Other Electric Revenues
NON TARIFFED REVENUES (456)Activity:
Douglas A Snow
Included in This Activity
Detail Description of General Ledger Accounts
APPENDIX A
Witness:
78
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
NON TARIFFED REVENUES (456)
456 Other Electric Revenues
Activity:
FERC Account:
Witness: Douglas A Snow
Description of GL Account numbers included in this activity:
* See Appendix C for Summary GL Account Numbers
*SUMMARY OTHER OPERATING REVENUE (OOR) RELATED EXPENSE
These expenses are related to Other Operating Revenue.
4186128 MISCELLANEOUS REVENUES
Includes revenues for all miscellaneous services and charges billed to customers which are subject to
specific ratemaking treatment.
4186130 TULE POWER PLANT REVENUE
Includes revenue from Tule power plant.
4186512 RECREATION, FISH & WILDLIFE
Includes revenues related to recreation, fish and wildlife.
4186514 MAPPING SERVICES
Includes revenues related to mapping services.
4186518 ENHANCED PUMP TEST REVENUE
Includes revenues received by the Customer Solutions Business Unit for Enhanced Pump Tests.
4186524 REVENUE FROM SCRAP PAPER - GENERAL OFFICE
Includes revenues related to scrap paper.
4186528 CUSTOMER TECHNOLOGY APPLICATION CENTER REVENUES
Fees charged for Energy Efficiency related conferences and seminars.
4186530 AGRICULTURAL TECHNOLOGY APPLICATION CENTER REVENUES
Includes revenues and expenses for AgTAC services, DSM.
4186730 CONSULTING FEES - INSTALLATION MANAGEMENT SERVICES
Includes revenues related to engineering and consulting services.
4186740 ADVANCED TECHNOLOGY 3RD PARTY SERVICES
Includes revenue related to Advanced Technology 3rd party services.
79
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
NON TARIFFED REVENUES (456)
456 Other Electric Revenues
Activity:
FERC Account:
Witness:
Recorded/Adjusted (Nominal 2015$) By GL Account
2015 2014 2013 2012 2011
$ (000)
Douglas A Snow
* See Appendix C for Summary GL Account Numbers
0 0 0 0 0 OTHER OPERATING REVENUE
(OOR) RELATED EXPENSE
*SUMMARY
7,624 7,624 7,624 7,624 7,624 MISCELLANEOUS REVENUES4186128
0 0 0 0 0 TULE POWER PLANT REVENUE4186130
0 0 0 0 0 RECREATION, FISH & WILDLIFE4186512
0 0 0 0 0 MAPPING SERVICES4186514
0 0 0 0 0 ENHANCED PUMP TEST REVENUE4186518
0 0 0 0 0 REVENUE FROM SCRAP PAPER -
GENERAL OFFICE
4186524
0 0 0 0 0 CUSTOMER TECHNOLOGY
APPLICATION CENTER REVENUES
4186528
0 0 0 0 0 AGRICULTURAL TECHNOLOGY
APPLICATION CENTER REVENUES
4186530
0 0 0 0 0 CONSULTING FEES -
INSTALLATION MANAGEMENT
SERVICES
4186730
0 0 0 0 0 ADVANCED TECHNOLOGY 3RD
PARTY SERVICES
4186740
Total 7,624 7,624 7,624 7,624 7,624
** Due to rounding, totals may not tie to other workpaper pages.
80
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
456 Other Electric RevenuesFERC Account:
NON TARIFFED REVENUES (456)Activity:
Witness: Douglas A Snow
Adjustments to Recorded
Detail of Total Company
APPENDIX B
81
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
NON TARIFFED REVENUES (456)
456 Other Electric Revenues
Activity:
FERC Account:
Witness: Douglas A Snow
Detail of Adjustments to Recorded OOR
Adjs - (Nominal $)
2018 2017 2016 2014 2013 2012 2011 2015
$ (000)
4,227 5,340 4,352 (10,035) 4,984 0 0 0 OOR
This adjustment removes recorded revenues associated with the Gross Revenue Sharing Mechanism (GRSM).
GRC-DAT-CW-GRSMCompany Wide Adjustment 1
0 0 0 (2,640)(17,659)(3,272)(2,284)(3,397)OOR
This adjustment reflects the gross revenue sharing threshold amount for this FERC account.
GRC-DAT-CW-AUTHORIZED GRSMCompany Wide Adjustment 2
0 0 0 7,624 7,624 7,624 7,624 7,624 OOR
82
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
FERC Account: 456 Other Electric Revenues
Activity: NON TARIFFED REVENUES (456)
Witness: Douglas A Snow
Included in This Activity
Detail Description of General Ledger Accounts
APPENDIX C
83
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
456 Other Electric RevenuesFERC Account:
NON TARIFFED REVENUES (456)Activity:
Witness:
*Summary GL Account Numbers:
GL Account Numbers included in this Activity:
Douglas A Snow
OTHER OPERATING REVENUE (OOR) RELATED EXPENSE
6010010 6010026 6012010 6012020 6012040 6012065 6012095 6019188 8010000 8010001
8010003 8010019 8010025 8010028 8010099 8010103 8010125 8030010 8050120 8050200
84
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
FERC Account: 456 Other Electric Revenues
Activity: NON TARIFFED REVENUES (456)
Individual GL Account Numbers:
Witness: Douglas A Snow
4186128 4186130 4186512 4186514 4186518 4186524 4186528 4186530 4186730 4186740
85
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
End of Workpapers for:
FERC Account: 456 Other Electric Revenues
NON TARIFFED REVENUES (456)Activity:
En
d o
f Wo
rkp
ap
ers
Witness: Douglas A Snow
86
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
Beginning of Workpapers for:
Activity:
FERC Account: 456 Other Electric Revenues
UTILITY SUBSIDIARY EARNINGS
Witness: Douglas A Snow
Forecast Method
Chosen
2015$ (000)
Forecast
2018
Recorded
2015
(1,740)(1,740)Last Recorded YearOOR
For SCE subsidiary operations each entity prepares financial statements indicating the results of operations. The net
income or loss from operations is respectively credited or charged to other electric revenues (Acct. 456) and charged or
credited respectively to investment in subsidiary companies (Acct. 123).
Description of Activity:
General Ledger Account numbers included in this activity (See Appendix A for additional detail):
4186136 4186145 4186188 8050004
87
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
UTILITY SUBSIDIARY EARNINGS
456 Other Electric Revenues
Activity:
FERC Account:
Witness: Douglas A Snow
DETERMINATION OF RECORDED/ADJUSTED
FERC Form 1 Recorded Revenue (Nominal $)
Recorded Period
Adjustments - (Nominal$) - see Appendix B
for additional detail
$ (000)
12,809
0
2011
1,072
0
2012
(743)
0
2013
(1,458)
0
2014
(1,740)
0
2015
12,809 1,072 (743) (1,458) (1,740)Recorded/Adjusted Revenue - See Appendix
A for additional detail
-2,000
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
2011 2012 2013 2014 2015
Recorded Adjusted 2011-2015 (2015$)
-OOR-
88
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
UTILITY SUBSIDIARY EARNINGSActivity:
FERC Account: 456 Other Electric Revenues
*** See Appendix B For Additional Detail
= standard deviation (Based on recorded years data)
= R Squared (Based on recorded years data)
0.66
0.87
0.94
Douglas A Snow
2 Recorded Years (2014 - 2015):
Results of Averaging (A2)
(1,599) (1,599) (1,599)
sd**
141 OOR
2016 2017 2018 Chosen
3 Recorded Years (2013 - 2015):
Results of Linear Trending (T3) Results of Averaging (A3)
(1,314) (1,314) (1,314)(2,809) (3,308) 420
sd**r2*
(2,311)
Chosen
OOR
4 Recorded Years (2012 - 2015):
Results of Linear Trending (T4) Results of Averaging (A4)
(717)(717) (717)(3,005) (3,920) (4,835) 1,095
sd**r2* ChosenChosen
Chosen
OOR
5 Recorded Years (2011 - 2015):
Chosen
Results of Linear Trending (T5) Results of Averaging (A5)
1,988 1,988 1,988 (7,500) (10,663) (13,826)
sd**r2* Chosen
OOR
Last Recorded Year (LRY) Itemized Forecast (IF)
(1,740) (1,740) (1,740) 0 0 0
Chosen
Forecast Adjustments:
Base Forecast Method Adjustments***
(1,740) (1,740) (1,740) 0 0 0
OOR
OOR
* r2
** sd
no
no
no
no
no
no
no
yes no
LRY
Method
Chosen
5,498
2016 2017 2018 2016 2017 2018
2016 2017 2018 2016 2017 2018
2016 2017 2018 2016 2017 2018
2016 2017 2018 2016 2017 2018
2016 2017 2018 2016 2017 2018
Forecasting Methods - Summary of Results of all Methods Studied - 2015$ (000)
Other Methods:
Witness:
89
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
Activity: UTILITY SUBSIDIARY EARNINGS
FERC Account: 456 Other Electric Revenues
Witness: Douglas A Snow
(1,740)(1,740)(1,740)
2018 2017 2016
Analysis of Linear Trending Method:
In D.89-12-057, the CPUC stated that if costs have shown a trend in a certain direction over three or more years, the
last year recorded is an appropriate base estimate. Costs in this activity have shown a trend over the last three years.
See last recorded year analysis method below.
Analysis of Averaging Method:
In D.89-12-057, the CPUC stated that for those accounts which have significant fluctuations in recorded expenses from
year to year, an average of recorded expenses over a period of time is a reasonable base estimate. Recorded costs in
this activity have fluctuated over the five-year period, but the averaging methodology was not selected because the
most recent three year period (2013-2015) has shown a trend. See last recorded year analysis.
Analysis of Last Recorded Year (2015):
In D.89-12-057, the CPUC stated that if recorded expenses in an account have been relatively stable for three or more
years, the last recorded year is an appropriate base estimate. Recorded costs in this activity have been relatively stable
over the last three recorded years, so the last recorded year was selected as the forecast method to forecast Test Year
2018.
Analysis of Itemized Forecast Method:
Not applicable.
Analysis of Forecasting Methods
Last Recorded YearOOR
Method Selected
Forecasting Results
Results:
90
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
(1,740) (1,740) (1,740)
$ (000)
Forecast Revenues (Nominal 2015$)
OOR
Total
Change
Prior Year Total
2018 2017 2016 2011 2012 2013 2014
OOR
(1,740)(1,740)(1,740)
(1,740)(1,740)(1,740)
(1,740)
(1,740)(1,458)(743) 1,072 12,809
0 0 0
2015
Recorded Period
Activity:
FERC Account: 456 Other Electric Revenues
UTILITY SUBSIDIARY EARNINGS
Witness: Douglas A Snow
-2,000
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
2011 2012 2013 2014 2015 2016 2017 2018
Recorded 2011-2015 / Forecast 2016-2018 Nominal$ (000)
91
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
FERC Account: 456 Other Electric Revenues
UTILITY SUBSIDIARY EARNINGSActivity:
Douglas A Snow
Included in This Activity
Detail Description of General Ledger Accounts
APPENDIX A
Witness:
92
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
UTILITY SUBSIDIARY EARNINGS
456 Other Electric Revenues
Activity:
FERC Account:
Witness: Douglas A Snow
Description of GL Account numbers included in this activity:
4186136 UTILITY EARNINGS - EDISON MATERIAL SERVICES
Includes Net Income or Loss from results of operations - Edison Material Services.
4186145 UTILITY EARNINGS - SCE CAPITAL
Includes Net Income or Loss from results of operations - SCE Capital.
4186188 UTILITY EARNINGS - MONO POWER COMPANY
Includes Net Income or Loss from results of operations - Mono Power.
8050004 OTHER OPERATING REVENUE (OOR) RELATED EXPENSE
These expenses are related to Other Operating Revenue.
93
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
UTILITY SUBSIDIARY EARNINGS
456 Other Electric Revenues
Activity:
FERC Account:
Witness:
Recorded/Adjusted (Nominal 2015$) By GL Account
2015 2014 2013 2012 2011
$ (000)
Douglas A Snow
12,816 1,074 (735) (1,458) (1,739)UTILITY EARNINGS - EDISON MATERIAL
SERVICES
4186136
(5) (1) (4) 1 0 UTILITY EARNINGS - SCE CAPITAL4186145
(2) (1) (4) (1) (1)UTILITY EARNINGS - MONO POWER
COMPANY
4186188
0 0 0 0 0 OTHER OPERATING REVENUE (OOR)
RELATED EXPENSE
8050004
Total (1,740)(1,458)(743) 1,072 12,809
** Due to rounding, totals may not tie to other workpaper pages.
94
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
456 Other Electric RevenuesFERC Account:
UTILITY SUBSIDIARY EARNINGSActivity:
Witness: Douglas A Snow
Adjustments to Recorded
Detail of Total Company
APPENDIX B
95
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
UTILITY SUBSIDIARY EARNINGS
456 Other Electric Revenues
Activity:
FERC Account:
Witness: Douglas A Snow
Detail of Adjustments to Recorded OOR
Adjs - (Nominal $)
2018 2017 2016 2014 2013 2012 2011 2015
$ (000)
12,809 1,072 (743) (1,458) (1,740) 0 0 0 OOR
This adjustment reverses a memo entry adjustment prepared only for FERC Form Purposes.
GRC-DAT-CW-FERC FORM 1 ADJCompany Wide Adjustment 1
0 0 0 (1) 0 (8)(2)(7)OOR
This adjustment transfers Other Operating Revenue (OOR).
GRC-JRM-CW-EMM TO OORCompany Wide Adjustment 2
0 0 0 (1,739)(1,458)(735) 1,074 12,816 OOR
96
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
End of Workpapers for:
FERC Account: 456 Other Electric Revenues
UTILITY SUBSIDIARY EARNINGSActivity:
En
d o
f Wo
rkp
ap
ers
Witness: Douglas A Snow
97
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
2018 GENERAL RATE CASESCE-09: RESULTS OF OPERATIONS
CHAPTER VIII - OTHER OPERATING REVENUE
SECTION BADDED FACILITIES RATES
98
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
TAB
LE V
III-3
6Ad
ded
Faci
litie
s R
ates
Com
pone
nts
SCE
Fina
nced
Cus
tom
er F
inan
ced
Rep
lace
men
t at
Rep
lace
men
t for
20
Yrs
Rep
lace
men
t (P
erpe
tuity
)R
epla
cem
ent a
tR
epla
cem
ent f
or 2
0 Yr
sR
epla
cem
ent (
Per
petu
ity)
Add
ition
al C
ost
at N
o A
dditi
onal
Cos
tat
Add
ition
al C
ost
Add
ition
al C
ost
at N
o A
dditi
onal
Cos
tat
Add
ition
al C
ost
Line
Rat
e(%
)(%
)(%
)(%
)(%
)(%
)N
o.C
ompo
nent
s(1
)(2
)(3
)(4
)(5
)(6
)
1.O
verh
ead:
A&
G,
2.A
d V
al.,
& In
s.2.
512.
562.
772.
512.
552.
753.
4.R
etur
n, D
epre
ciat
ion,
5.an
d In
com
e Ta
xes
10.4
410
.44
10.4
4–
––
6. 7.R
epla
cem
ent:
–0.
201.
08–
0.19
1.08
8. 9.To
tal
12.9
513
.19
14.2
92.
512.
743.
8310
.A
vera
ge O
&M
1.61
1.64
1.78
1.61
1.64
1.77
11.
12.
Ann
ual
14.5
614
.84
16.0
74.
124.
385.
6013
.M
onth
ly1.
211.
241.
340.
340.
370.
4714
.15
.O
ne-T
ime-
16.
Pay
men
t Fac
tor
N/A
146.
7620
1.31
N/A
43.3
670
.21
99
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
SOUT
HERN
CAL
IFOR
NIA
EDIS
ON C
OMPA
NYAD
DED
FACI
LITI
ES R
ATES
COM
PONE
NTS
SUMM
ARY
SCE
Finan
ced
With
Re
place
ment
at Ad
dition
al Co
st
SCE
Finan
ced
With
Re
place
ment
for 20
Yea
rs at
No A
dditio
nal
Cost
SCE
Finan
ced
With
Re
place
ment
(Per
petui
ty) at
No
Add
itiona
l Co
st
Custo
mer
Finan
ced
With
Re
place
ment
at Ad
dition
al Co
st
Custo
mer
Finan
ced
With
Re
place
ment
for 20
Yea
rs at
No A
dditio
nal
Cost
Custo
mer
Finan
ced
With
Re
place
ment
(Per
petui
ty) at
No A
dditio
nal
Cost
Line
Rate
(%)
(%)
(%)
(%)
(%)
(%)
No.
Comp
onen
ts(1
)(2
)(3
)(4
)(5
)(6
)
1.Ov
erhe
ad: A
&G,
2.51
2.56
_1/
2.77
_3/
2.51
2.55
_1/
2.75
_3/
2.Ad
Val.
, & In
s.3.
4.Re
turn,
Depr
eciat
ion,
5.an
d Inc
ome T
axes
10.44
10.44
10.44
0.00
0.00
0.00
6. 7.Re
place
ment:
0.00
0.20
_2/
1.08
0.00
0.19
_2/
1.08
8. 9.To
tal12
.9513
.1914
.292.5
12.7
43.8
310
.Av
erag
e O&M
1.61
1.64
1.78
_4/
1.61
1.64
1.77
_4/
11.
12.
Annu
al14
.5614
.8416
.074.1
24.3
85.6
013
.Mo
nthly
1.21
1.24
1.34
0.34
0.37
0.47
14.
15.
One-
Time-
16.
Paym
ent F
actor
N/A
146.7
620
1.31
N/A
43.36
70.21
Assu
mpt
ions Co
st of
mone
y7.9
0%Un
coll.
& Fr
anch
ise1.1
1%Es
calat
ion fo
r tra
nsmi
ssion
2.43%
Esca
lation
for d
istrib
ution
2.97%
Wtd
Avg E
cono
mic L
ife (y
ears)
:Co
mpan
y Fina
nced
n =
45.38
Custo
mer F
inanc
ed n
=46
.50IS
CF fo
r rep
lacem
ent =
1.104
2IS
CF fo
r rep
lacem
ent =
1.097
7
_1/
=
2.67 +
0.2*
2.67*
((1+2
.51%
)/(1+
7.90%
))^n
_3/
=
2.67*
ISCF
_2/
=
0.2*1
0.52*
((1+2
.51%
)/(1+
7.90%
))^n
_4/
=
1.84*
ISCF
100
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
Carrying Charge RatesGeneral Assumptions
Based on the 2012 Forecast Rate of Return of 7.90%
Return on Rate Base: _1/Capital Cost WeightedRatio Factor Cost
Debt 43.00% 5.49% 2.36%Preferred Stock 9.00% 5.79% 0.52%Common Equity 48.00% 10.45% 5.02%
Total 100.00% 7.90%
Discount Rate: Discount Rate = 7.90%
Ad Valorem Tax: _2/Ad Valorem = 1.28% of Asessed Value
(Assessed Value = 0.8012 x HCLD)HCLD: Historical Cost Less Depreciation
Annual A&G and Insurance Expenses as a % of Original Rate Base: _3/A&G = 1.44%Insurance = 0.39%
Income Taxes: Federal Income Tax Rate = 35.00%State Income Tax Rate = 8.84%
Notes:_1/ SCE's current authorized rate of return_2/ Ad valorem tax rate based on Controllers Department study, D. Lee_3/ A&G rate based on Controllers Department study, R. Montes Insurance rate based on Treasurers Department study, G. Ung
101
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
FERC Account Assumptions
for Carrying Charge Rates
FERC Book Salvage Federal Deprec State DeprecUniform Life Value Life Life
Account # Description (Yrs) (%) Type (Yrs) Type (Yrs)
Transmission Plant
350 Land and Land Rights N/A N/A N/A N/A N/A N/A352 Structures and Improvements 55 -35% SL 39 DB 45353 Station Equipment 45 -15% DB 15 DDB 30354 Towers and Fixtures 65 -60% DB 15 DDB 30355 Poles and Fixtures 50 -72% DB 15 DDB 30356 Overhead Conductors and Devices 61 -80% DB 15 DDB 30357 Underground Conduit 55 0% DB 15 DDB 30358 Underground Conductors and Devices 40 -15% DB 15 DDB 30359 Roads and Trails 60 0% DB 20 DDB 30
Distribution Plant
360 Land and Land Rights N/A N/A N/A N/A N/A N/A361 Structures and Improvements 42 -25% SL 39 DB 45362 Station Equipment 45 -25% DB 20 DDB 30364 Poles, Towers and Fixtures 47 -210% DB 20 DDB 30365 Overhead Conductors and Devices 45 -115% DB 20 DDB 30366 Underground Conduit 59 -30% DB 20 DDB 30367 Underground Conductors and Devices 45 -60% DB 20 DDB 30368 Line Transformers 33 -20% DB 20 DDB 30369 Services 45 -100% DB 20 DDB 30370 Meters 20 -5% DB 20 DDB 30373 Street Lighting and Signal Systems 40 -30% DDB 7 DDB 9
Notes:Lives and Salvage Values are based on Property Accounting's Annual Accrual Rate Determination for Test Year 2015
DB: 150% declining balanceDDB: 200% declining balance
102
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
ADDED FACILITIES RATERebase after One lifeCompany Financed
Annual Capital- Levelized A&G Added Added Weighed AddedO&M Carrying Ad Val. & Ins. Facilts Facilts Cap. Carrying Facilts
Account Charge Charge Charge Plant Plant Charge Charge% % % $ % % %(1) (2) _2/ (3) (4) _3/ (5) (6) (7)=(1)+(2)+(3)
TRANSMISSION 350 11.71 1,655 1.38 0.16352 11.47 1,332 1.11 0.13353 9.80 66,779 55.78 5.47354 9.41 4,020 3.36 0.32355 9.94 16,431 13.73 1.36356 9.58 14,253 11.91 1.14357 9.36 3,741 3.13 0.29358 10.09 11,467 9.58 0.97359 9.87 38 0.03 0.00
_1/Total 1.24 9.95 2.51 119,717 100.00 9.84 13.7
DISTRIBUTION360 11.71 309 0.17 0.02361 11.83 3,205 1.71 0.20362 10.44 113,023 60.40 6.30364 11.61 3,317 1.77 0.21365 11.11 3,232 1.73 0.19366 10.02 1,491 0.80 0.08367 10.70 33,785 18.06 1.93368 11.25 21,866 11.69 1.31369 11.00 3,540 1.89 0.21370 13.17 1,828 0.98 0.13373 5.51 1,526 0.82 0.04
_1/Total 1.93 10.75 2.51 187,121 100.00 10.63 15.2
ANNUAL 1.61 10.44 2.51 14.56MONTHLY 1.21
_1/ Includes Uncoll. & Franchise % 1.11%
_2/ See workpaper: LACC Components for Capital
_3/ See workpaper: Added Facilities Capital Investment By Account
103
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
ADDED FACILITIES RATE(Payment to Perpetuity)
Customer Financed
Annual Annual Levelized Added Added Weighed Annual
O&M Capital-rel.A&G, Ad Val.
& Ins. Facilits. Facilts Cap. Carrying Add.FcltsCharge Charge Charge Plant Plant Charge Charge
% % % $ % % %(1) (2) _1/ (3) (4) _2/ (5) (6) (7)=(1)+(2)+(3)
0.45 3,688 2.00 0.010.69 1,606 0.87 0.011.01 99,567 53.93 0.540.33 10,991 5.95 0.020.78 23,874 12.93 0.100.41 25,743 13.94 0.060.56 4,154 2.25 0.011.37 14,881 8.06 0.110.45 104 0.06 0.00
_3/ 1.36 0.87 2.75 184,608 100.00 0.86 5.0
0.45 225 0.13 0.001.44 2,620 1.46 0.021.08 106,975 59.69 0.641.07 5,452 3.04 0.031.14 8,925 4.98 0.060.48 2,436 1.36 0.011.10 30,531 17.04 0.192.26 15,679 8.75 0.201.13 1,879 1.05 0.015.62 3,901 2.18 0.120.75 588 0.33 0.00
_3/ 2.11 1.30 2.75 179,211 100.00 1.28 6.2
1.77 1.08 2.75 5.600.47
_1/ =[PW(RR)-PW(AG, Ins, Ad Val)]*ISCF*Rate of Return Includes Uncoll. & Franchise % 1.11% Annual Carrying Charges * ISCF
_2/ See workpaper: Added Facilities Capital Investment By Account
_3/ Translated to an infinite series ISCF=Infinite Series Correction Factor ISCF = 1.0977
104
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
LACC
COM
PONE
NTS
FOR
CAPI
TAL
_1/
w/o A
&G,
Econ
omic
Ovhd
.A&
G+Ad
Val
LACC
LACC
PW of
Ad
. Val
Acco
unts
Life
A&G+
AdVa
l+
Ins. p
ww/
A&G
w/o A
&G1s
t. Life
&I
ns. P
W of
Perp
etuity
W/O
1st.
+ Ins
.Re
v. Re
q.1s
t. Life
LACC
_2/
LACC
350
602.4
7%30
.914
.211
.715
4.1
123.2
10.18
0.45
352
552.5
6%31
.914
.011
.517
5.0
143.0
11.98
0.69
353
452.5
6%31
.412
.49.8
151.
412
0.010
.491.0
135
465
2.56%
32.1
12.0
9.415
0.4
118.3
9.67
0.33
355
502.4
7%30
.612
.49.9
153.
612
3.010
.490.7
835
661
2.51%
31.4
12.1
9.615
1.5
120.1
9.90
0.41
357
552.6
4%32
.912
.09.4
149.
611
6.79.7
80.5
635
840
2.54%
30.6
12.6
10.1
152.
212
1.610
.971.3
735
960
2.65%
33.2
12.5
9.915
6.8
123.6
10.22
0.45
360
602.4
7%30
.914
.211
.715
4.1
123.2
10.18
0.45
361
422.5
3%30
.714
.411
.817
4.314
3.712
.791.4
436
245
2.54%
31.1
13.0
10.4
158.9
127.8
11.17
1.08
364
472.2
8%28
.113
.911
.617
0.914
2.912
.361.0
736
545
2.38%
29.1
13.5
11.1
165.1
136.0
11.89
1.14
366
592.5
9%32
.412
.610
.015
7.812
5.410
.390.4
836
745
2.47%
30.2
13.2
10.7
161.2
131.0
11.45
1.10
368
332.5
0%29
.013
.711
.215
9.813
0.812
.602.2
636
945
2.40%
29.4
13.4
11.0
164.0
134.6
11.77
1.13
370
202.4
8%24
.515
.613
.215
4.813
0.315
.915.6
237
340
2.51%
30.2
8.05.5
96.6
66.4
5.99
0.75
Aver
age
2.51%
_1/
LAC
C =
Leve
lized
Ann
ual C
arryi
ng C
harg
e_2
/ P
V o *
Disc
ount
Rate
* ISC
F, W
here
PV o
= P
rese
nt W
orth
Di
scou
nt Ra
te =
7.90%
IS
CF =
Infin
ite S
eries
Cor
recti
on F
acto r
=
1 / (
1 - ((
1+2.5
1%)/(
1+7.9
0%))^
n)
n = ec
onom
ic life
;
Esc
alatio
n =2.9
7%
105
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
RECO
RDED
O&M
EXP
ENSE
S (F
ERC
FORM
1)Te
n Ye
arAv
erag
eFE
RCAc
coun
t20
0620
0720
0820
0920
1020
1120
1220
1320
1420
15
560
10,92
013
,850
14,66
418
,445
14,12
013
,029
12,02
314
,680
12,47
48,9
1256
217
,815
19,09
219
,420
22,94
421
,289
20,61
522
,038
31,22
524
,289
22,89
856
34,8
836,5
945,6
753,3
664,0
234,7
814,8
506,4
915,0
486,2
2656
480
61,2
311,0
6489
496
31,1
031,2
941,2
011,0
081,1
8656
82,3
362,2
692,2
393,1
552,7
422,1
612,3
902,8
202,3
322,2
3256
929
754
089
069
154
726
314
522
429
722
557
09,7
427,4
5610
,108
10,09
115
,276
10,72
310
,459
6,209
9,552
9,034
571
20,69
022
,155
21,64
035
,474
39,49
131
,095
29,46
734
,985
39,24
630
,313
572
3,778
441
951
474
-141
733
360
646
251
998
00
00
00
00
00
0__
____
____
___
____
____
____
___
____
____
___
____
____
____
___
____
____
___
____
____
____
___
____
____
___
____
____
____
___
____
____
___
____
____
____
_Su
b-tot
al71
,267
73,62
876
,650
95,53
598
,310
84,50
283
,025
98,48
194
,496
82,02
585
,792
580
20,34
56,6
329,7
0534
,244
38,41
439
,218
30,56
632
,117
28,41
024
,967
582
20,13
821
,196
21,25
625
,235
29,80
729
,758
29,98
732
,747
32,77
935
,242
583
24,88
023
,389
22,18
629
,353
23,65
626
,959
30,61
546
,392
57,70
661
,477
584
4,451
4,157
2,738
2,412
3,611
5,800
7,096
6,880
5,826
5,725
585
1,870
726
731
9348
061
755
654
632
1058
627
,763
29,36
726
,003
26,79
731
,154
33,19
528
,543
27,47
025
,910
24,82
259
02,3
781,7
2078
61,4
992,7
342,2
042,2
672,5
642,0
712,0
0459
199
470
238
572
186
251
111
8693
215
592
9,656
9,842
7,668
8,323
7,818
4,583
6,237
9,998
5,247
11,25
959
310
4,767
95,28
481
,712
84,52
110
4,489
112,0
2710
3,989
110,5
0912
7,978
146,0
5159
416
,171
15,98
827
,701
47,19
648
,745
51,10
160
,972
64,93
572
,067
55,91
159
52,2
212,4
623,7
854,4
024,8
196,8
558,0
376,1
345,3
646,5
2059
66,5
876,9
636,7
847,7
326,2
885,7
946,3
696,5
846,7
225,9
4259
72,1
042,2
711,5
902,1
861,9
312,3
922,5
915,3
144,4
804,3
35__
____
____
___
____
____
____
___
____
____
___
____
____
____
___
____
____
___
____
____
____
___
____
____
___
____
____
____
___
____
____
___
____
____
____
_Su
b-tot
al24
4,325
220,7
0021
3,029
274,0
6530
4,131
320,7
5431
7,935
352,2
7537
4,685
384,4
8130
0,638
106
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
PL
AN
T IN
VE
ST
ME
NT
(E
OY
)
O&
M R
ati
o C
alc
ula
tio
n
FERC
Te
n Ye
arAc
coun
ts20
0620
0720
0820
0920
1020
1120
1220
1320
1420
15Av
erag
e
350
195,7
9119
9,529
205,3
9323
6,127
235,8
9423
8,723
268,4
4729
9,050
320,1
7532
8,445
352
191,3
9121
4,794
220,9
6126
9,525
297,9
1033
4,506
378,2
5556
8,146
630,1
8068
3,745
353
2,461
,842
2,662
,052
2,727
,170
2,998
,770
3,214
,737
3,421
,751
4,021
,792
4,745
,909
5,023
,215
5,283
,695
354
432,2
7743
3,176
433,5
7264
8,131
675,2
4060
1,728
772,2
041,5
21,25
11,8
84,52
02,2
60,74
435
538
8,887
416,2
3942
8,118
469,6
2551
7,954
545,7
4360
3,692
702,4
7584
7,109
1,018
,087
356
500,7
2450
5,343
510,1
5057
8,230
614,8
5361
7,980
706,0
2198
7,303
1,275
,756
1,484
,377
357
36,98
738
,360
38,58
240
,230
42,76
846
,153
48,51
754
,845
56,30
454
,913
358
147,4
9815
9,124
168,5
5617
3,469
175,9
6218
3,442
208,1
6721
7,930
250,1
0927
0,777
359
24,30
124
,301
24,30
130
,992
31,91
311
3,893
43,03
976
,536
86,70
319
4,078
____
____
____
___
____
____
___
____
____
____
___
____
____
____
____
____
____
____
____
____
____
____
____
___
____
____
____
____
____
____
____
____
____
____
Subto
tal4,3
79,69
84,6
52,91
74,7
56,80
25,4
45,09
95,8
07,22
96,1
03,91
97,0
50,13
49,1
73,44
610
,374,0
7211
,578,8
616,9
32,21
81.6
3%1.5
8%1.6
1%1.7
5%1.6
9%1.3
8%1.1
8%1.0
7%0.9
1%0.7
1%1.2
4%($
1999
)1.9
4%1.8
5%1.8
4%1.9
4%1.8
2%1.4
6%1.2
3%1.1
1%0.7
1%
360
92,18
810
1,395
100,9
8410
1,019
101,7
0310
5,855
105,9
7510
6,706
107,5
9811
5,268
361
299,1
7131
4,781
313,7
0938
8,979
399,4
1143
1,351
436,8
3148
1,352
539,5
1458
8,946
362
1,132
,207
1,189
,734
1,235
,918
1,363
,545
1,457
,056
1,609
,973
1,761
,038
1,913
,611
2,065
,202
2,268
,104
364
1,088
,555
1,172
,866
1,246
,128
1,386
,110
1,538
,474
1,575
,556
1,655
,027
1,785
,054
2,066
,840
2,481
,629
365
860,2
6190
0,633
937,2
1098
3,228
1,049
,690
1,135
,495
1,195
,653
1,275
,376
1,348
,029
1,444
,328
366
965,0
451,0
13,24
31,0
81,70
61,2
07,77
11,3
01,06
91,3
20,53
81,3
89,56
31,4
80,94
11,6
35,32
61,8
21,64
536
72,7
74,92
43,0
78,95
23,2
64,59
33,4
87,89
43,7
64,68
04,1
18,13
34,4
02,04
44,7
82,93
15,1
79,01
55,5
98,00
536
82,0
54,70
32,1
93,40
22,3
17,37
12,4
76,36
22,7
01,30
12,8
64,15
83,0
22,09
63,1
90,69
33,3
66,40
23,5
59,46
636
991
9,839
978,6
311,0
11,47
21,0
51,45
91,0
89,18
11,1
31,30
31,1
72,06
21,2
13,80
81,2
56,38
41,3
03,01
137
052
4,318
544,9
2356
8,270
606,7
9375
7,651
902,7
0696
0,736
975,9
5298
2,535
996,8
2637
362
1,398
650,7
9167
0,295
687,1
6870
8,425
732,0
3075
3,721
792,8
6084
9,091
889,2
30__
____
____
___
____
____
____
___
____
____
___
____
____
____
___
____
____
___
____
____
____
____
____
____
____
____
____
____
____
____
____
___
____
____
___
Subto
tal11
,332,6
0812
,139,3
5112
,747,6
5613
,740,3
2714
,868,6
4115
,927,0
9916
,854,7
4517
,999,2
8419
,395,9
3721
,066,4
5915
,607,2
112.1
6%1.8
2%1.6
7%1.9
9%2.0
5%2.0
1%1.8
9%1.9
6%1.9
3%1.8
3%1.9
3%($
1999
)2.7
8%2.2
6%2.0
1%2.3
1%2.3
1%2.2
1%2.0
2%2.0
7%1.8
3%
107
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
RULE
2HCo
mpa
ny F
inan
ced
Cus
tom
er F
inan
ced
Reba
se af
ter O
ne lif
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ymen
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Perp
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Annu
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Leve
lized
A&G
Adde
dAd
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Weig
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ed A
&GAd
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(1)
(2)
(3)
(4)
(5)
(6)
(7)=
(1)+
(2)+
(3)
(1)
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1/(3
)(4
)(5
)(6
)(7
)=(1
)+(2
)+(3
)TR
ANSM
ISSI
ON35
011
.7135
20.5
90.0
70.4
511
10.5
90.0
035
211
.4784
41.4
20.1
60.6
926
71.4
20.0
135
39.8
034
,481
58.15
5.70
1.01
10,91
958
.150.5
935
49.4
118
0.03
0.00
0.33
60.0
30.0
035
59.9
48,7
4214
.741.4
60.7
82,7
6814
.740.1
135
69.5
85,5
109.2
90.8
90.4
11,7
459.2
90.0
435
79.3
62,5
184.2
50.4
00.5
679
74.2
50.0
235
810
.096,8
3411
.521.1
61.3
72,1
6411
.520.1
635
99.8
70
0.00
0.00
0.45
00.0
00.0
0_1
/_2
/
Total
1.24
9.96
2.51
59,29
810
0.00
9.85
13.71
1.36
0.94
2.75
18,77
710
0.00
0.93
5.06
DIST
RIBU
TION
36
011
.7125
70.4
30.0
50.4
581
0.15
0.00
361
11.83
2,543
4.29
0.51
1.44
805
1.53
0.02
362
10.44
83,70
414
1.16
14.73
1.08
26,50
650
.310.5
436
411
.612,9
424.9
60.5
81.0
71,1
142.1
10.0
236
511
.112,5
444.2
90.4
81.1
496
31.8
30.0
236
610
.021,3
242.2
30.2
20.4
850
20.9
50.0
036
710
.7032
,200
54.30
5.81
1.10
12,19
423
.150.2
636
811
.2521
,205
35.76
4.02
2.26
8,030
15.24
0.34
369
11.00
3,492
5.89
0.65
1.13
1,322
2.51
0.03
370
13.17
1,542
2.60
0.34
5.62
584
1.11
0.06
373
5.51
1,525
2.57
0.14
0.75
577
1.10
0.01
_1/
_2/
To
tal1.9
327
.842.5
115
3,277
258.4
927
.5332
.272.1
11.3
32.7
552
,680
100.0
01.3
16.1
9
ANNU
AL1.7
422
.852.5
127
.101.9
11.2
32.7
55.8
9
_1/ In
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_2/ In
clude
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ance
d)1.0
977
108
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
RULE
21
Com
pany
Fin
ance
dCu
stom
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inan
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Reba
se af
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350
11.71
1,303
2.20.2
50.4
53,5
772.2
0.01
352
11.47
488
0.80.0
90.6
91,3
380.8
0.01
353
9.80
32,29
853
.55.2
41.0
188
,649
53.5
0.54
354
9.41
4,002
6.60.6
20.3
310
,986
6.60.0
235
59.9
47,6
9012
.71.2
60.7
821
,105
12.7
0.10
356
9.58
8,743
14.5
1.39
0.41
23,99
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.50.0
635
79.3
61,2
232.0
0.19
0.56
3,357
2.00.0
135
810
.094,6
337.7
0.77
1.37
12,71
77.7
0.11
359
9.87
380.1
0.01
0.45
104
0.10.0
0_1
/_2
/
Total
1.24
9.94
2.51
60,41
910
0.09.8
313
.681.3
60.8
62.7
516
5,831
99.9
0.85
5.0
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360
11.71
520.2
0.02
0.45
143
0.10.0
036
111
.8366
12.0
0.23
1.44
1,815
1.40.0
236
210
.4429
,318
86.6
9.04
1.08
80,46
963
.60.6
836
411
.6137
51.1
0.13
1.07
4,338
3.40.0
436
511
.1168
82.0
0.23
1.14
7,962
6.30.0
736
610
.0216
70.5
0.05
0.48
1,934
1.50.0
136
710
.701,5
854.7
0.50
1.10
18,33
614
.50.1
636
811
.2566
12.0
0.22
2.26
7,648
6.00.1
436
911
.0048
0.10.0
21.1
355
70.4
0.00
370
13.17
287
0.80.1
15.6
23,3
182.6
0.15
373
5.51
10.0
0.00
0.75
110.0
0.00
_1/
_2/
To
tal1.9
310
.662.5
133
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100.0
10.54
15.10
2.11
1.28
2.75
126,5
3110
0.01.2
76.2
ANNU
AL1.4
810
.202.5
114
.191.6
91.0
72.7
55.5
1
_1/ In
clude
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1.11%
_2/ In
clude
s ISC
F (C
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ance
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977
109
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
ADDE
D FA
CILI
TIES
CAP
ITAL
INVE
STME
NT B
Y AC
COUN
T
Adde
d Fa
cs. P
lant
Adde
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terc
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Rule
2HRu
le 21
Acco
unts
Econ
. Life
Com
Fin
%Cu
st F
in%
Com
Fin
%Cu
st F
in%
Com
Fin
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350
601,6
551.3
83,6
882.0
035
2
0.59
111
0.5
91,3
03
2.1
63,5
77
2.1
635
255
1,332
1.11
1,606
0.87
844
1.4
226
7
1.42
488
0.8
11,3
38
0.8
135
345
66,77
955
.7899
,567
53.93
34,48
1
58.15
10,91
9
58.15
32,29
8
53.46
88,64
9
53.46
354
654,0
203.3
610
,991
5.95
18
0.03
6
0.0
34,0
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6.6
210
,986
6.6
235
550
16,43
113
.7323
,874
12.93
8,742
14.74
2,768
14.74
7,690
12.73
21,10
5
12.73
356
6114
,253
11.91
25,74
313
.945,5
10
9.2
91,7
45
9.2
98,7
43
14
.4723
,998
14
.4735
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3,741
3.13
4,154
2.25
2,518
4.25
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4.2
51,2
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2.0
23,3
57
2.0
235
840
11,46
79.5
814
,881
8.06
6,834
11.52
2,164
11.52
4,633
7.67
12,71
7
7.67
359
6038
0.03
104
0.06
-
0.00
-
0.00
38
0.06
104
0.0
611
9,717
100.0
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4,608
100.0
059
,298
100.0
018
,777
100.0
060
,419
100.0
016
5,831
100.0
0Ac
coun
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060
309
0.17
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0.13
257
0.4
381
0.4
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3
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051.7
12,6
201.4
62,5
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91,8
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113,0
2360
.4010
6,975
59.69
83,70
4
141.1
626
,506
14
1.16
29,31
8
48.52
80,46
9
48.52
364
473,3
171.7
75,4
523.0
42,9
42
4.9
61,1
14
5.9
337
5
0.62
4,338
2.62
365
453,2
321.7
38,9
254.9
82,5
44
4.2
996
3
5.13
688
1.1
47,9
62
4.8
036
659
1,491
0.80
2,436
1.36
1,324
2.23
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2.6
716
7
0.28
1,934
1.17
367
4533
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18.06
30,53
117
.0432
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54
.3012
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2.6
218
,336
11
.0636
833
21,86
611
.6915
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8.75
21,20
5
35.76
8,030
42.77
661
1.0
97,6
48
4.6
136
945
3,540
1.89
1,879
1.05
3,492
5.89
1,322
7.04
48
0.08
557
0.3
437
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1,828
0.98
3,901
2.18
1,542
2.60
584
3.1
128
7
0.47
3,318
2.00
373
401,5
260.8
258
80.3
31,5
25
2.5
757
7
3.08
1
0.0
011
0.0
118
7,121
100.0
017
9,211
100.0
015
3,277
258.4
952
,680
280.5
533
,844
56.01
126,5
3176
.30
110
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
ANNUAL CARRYING CHARGE FOR LANDFERC Accounts 350 & 360
The carrying charge for land includes the components of return, income taxes, Administrative and General (A&G), and Ad Valorem Taxes. Other components such as book depreciation, federal & state tax depreciation, and insurance are not applicable.
The annual carrying charge for land, which is the same fore every year, is derived below:
Annual Carrying Charge = Return + Income Taxes + A&G + Ad Valorem Taxes
where FIT = Federal Income Tax= (FT/(1-FT))*(Return-(PD*CD))
SIT = State Income Tax= (ST/(1-ST))*(Return-(PD*CD)+FIT)
Return : Incremental Cost of CapitalPD : Percent of Debt in Capital StructureCD : Cost of DebtFT : Federal Income Tax RateST : State Income Tax Rate
For 2013 Operation Date:
Return = 7.90% Authorized Rate of ReturnPD = 43.00%CD = 5.49%ST = 8.84%FT = 35.00%A&G = 1.44%Ad Valorem = 1.28% of Assesed Value
(Assessed Value = 0.8012 x HCLD)HCLD : Historical Cost Less Depreciation
(Ad Valorem = 1.28% x 80.12% x HCLD)then
PD*CD = 2.36%FIT = 2.98%SIT = 0.83%Ad.Val. = 1.03%
Annual Carrying Charge = Return + FIT + SIT + A&G + Ad Valorem Taxes= 7.90% + 2.98% + 0.83% + 1.44% + 1.03%= 14.17%
Present Value = 14.17 / 9.20% = 154.1
111
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
ATTACHMENT
352 Structures and Improvement
COMPONENTS:
Present Valu Levelizedo Book Depreciation 67.40% 10.00%o Return 38.82% 5.76%o Federal Tax 15.08% 2.24%o State Tax 8.62% 1.28%o Property Tax 4.18% 0.62%o A&G, Insurance 12.34% 1.83%o Tax Adjustment for Salvage -2.21% -0.33%
Total 144.2% 21.4%
ASSUMPTIONS:
o In-service: 2016o Book Life or Economic Life: 10 Yearso Book Salvage: 0.00%
o Calculation of Rate Base & Tax Base: in dollars
Year 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TOTAL Cash Flow: 100.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 100.0 Rate Base: 104.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 104.0 Tax Base : 102.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 102.7
o Tax Base as % of Rate Base: 98.8% (for Fed. & St. Tax Depr, and Book-Tax Depr)
Income Tax Rate
o Federal Tax: SL 39 Yrs 35.0%o State Tax: 150% DB 45 Yrs 8.84%
Tax Rate In: 2016
o Property Tax Expense: Based on 1.280% of Assessed Value (Assessed Value= 0.8012 X HCLD)HCLD: Historical Cost Less Depreciation
o Overhead Expense: -- A&G 1.44%-- Insuranc 0.39%
Total 1.83%
o Authorized Rate of Return: Capital Weighted Ratio Cost Cost
-- Debt 43.00% 5.49% 2.36%-- Preferred 9.00% 5.79% 0.52%-- Common Equity 48.00% 10.45% 5.02%
Total 100.00% 7.90%
o Discount Rate: 7.90%
Notes: (1) Present Value is discounted to 2015 (2) Present Value and Levelized Carrying Charge should only be applied to capital outlays associated with regulated utility assets (3) Present Value and Levelized Carrying Charge should be applied to Total Rate Base including capitalized money costs incurred during construction period
CARRYING CHARGE COMPONENTS & ASSUMPTIONS
Tax Depreciation
112
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
Account 352 Structures and Improvement
Book Total Federal State Property A&G & Tax Adusted Discount Cum PV @Year Depreciation Return Income Taxes Income Taxes Tax Insurance for Salvage Total Factor 7.9%
1 2010 10.0% 7.9% 3.0% 1.6% 1.0% 1.8% 25.4% 92.7% 23.6%2 2011 10.0% 7.3% 2.8% 1.6% 0.9% 1.8% 24.5% 85.9% 44.6%3 2012 10.0% 6.8% 2.6% 1.5% 0.8% 1.8% 23.6% 79.6% 63.4%4 2013 10.0% 6.2% 2.4% 1.5% 0.7% 1.8% 22.7% 73.8% 80.2%5 2014 10.0% 5.7% 2.2% 1.4% 0.6% 1.8% 21.8% 68.4% 95.0%6 2015 10.0% 5.1% 2.0% 1.4% 0.5% 1.8% 20.8% 63.4% 108.3%7 2016 10.0% 4.6% 1.8% 1.3% 0.4% 1.8% 19.9% 58.7% 120.0%8 2017 10.0% 4.0% 1.6% 1.2% 0.3% 1.8% 19.0% 54.4% 130.3%9 2018 10.0% 3.5% 1.4% 1.2% 0.2% 1.8% 18.1% 50.4% 139.4%
10 2019 10.0% 2.9% 1.2% 1.1% 1.8% -4.7% 12.3% 46.8% 145.2%11 2020 -0.2% -0.2% 43.3% 145.1%12 2021 -0.2% -0.2% 40.2% 145.0%13 2022 -0.2% -0.2% 37.2% 145.0%14 2023 -0.2% -0.2% 34.5% 144.9%15 2024 -0.2% -0.2% 32.0% 144.9%16 2025 -0.2% -0.2% 29.6% 144.8%17 2026 -0.2% -0.2% 27.5% 144.8%18 2027 -0.2% -0.2% 25.4% 144.7%19 2028 -0.2% -0.2% 23.6% 144.7%20 2029 -0.2% -0.2% 21.9% 144.7%21 2030 -0.2% -0.2% 20.3% 144.6%22 2031 -0.2% -0.2% 18.8% 144.6%23 2032 -0.2% -0.2% 17.4% 144.6%24 2033 -0.2% -0.2% 16.1% 144.6%25 2034 -0.2% -0.2% 14.9% 144.5%26 2035 -0.2% -0.2% 13.8% 144.5%27 2036 -0.2% -0.2% 12.8% 144.5%28 2037 -0.2% -0.2% 11.9% 144.5%29 2038 -0.2% -0.2% 11.0% 144.5%30 2039 -0.2% -0.2% 10.2% 144.4%31 2040 -0.2% -0.2% 9.5% 144.4%32 2041 -0.2% -0.2% 8.8% 144.4%33 2042 -0.2% -0.2% 8.1% 144.4%34 2043 -0.2% -0.2% 7.5% 144.4%35 2044 -0.2% -0.2% 7.0% 144.4%36 2045 -0.2% -0.2% 6.5% 144.4%37 2046 -0.2% -0.2% 6.0% 144.4%38 2047 -0.2% -0.2% 5.6% 144.3%39 2048 -0.2% -0.2% 5.2% 144.3%40 2049 -0.2% -0.2% 4.8% 144.3%41 2050 -0.2% -0.2% 4.4% 144.3%42 2051 -0.2% -0.2% 4.1% 144.3%43 2052 -0.2% -0.2% 3.8% 144.3%44 2053 -0.2% -0.2% 3.5% 144.3%45 2054 -0.2% -0.2% 3.3% 144.3%46 2055 -0.2% -0.2% 3.0% 144.3%47 2056 -0.2% -0.2% 2.8% 144.3%48 2057 -0.2% -0.2% 2.6% 144.3%49 2058 -0.2% -0.2% 2.4% 144.3%50 2059 -0.2% -0.2% 2.2% 144.3%51 2060 -0.2% -0.2% 2.1% 144.3%52 2061 -0.2% -0.2% 1.9% 144.3%53 2062 -0.2% -0.2% 1.8% 144.3%
352
113
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
54 2063 -0.2% -0.2% 1.6% 144.3%55 2064 -0.2% -0.2% 1.5% 144.3%56 2065 -0.2% -0.2% 1.4% 144.3%57 2066 -0.2% -0.2% 1.3% 144.3%58 2067 -0.2% -0.2% 1.2% 144.3%59 2068 -0.2% -0.2% 1.1% 144.3%60 2069 -0.2% -0.2% 1.0% 144.3%61 2070 -0.2% -0.2% 1.0% 144.3%62 2071 -0.2% -0.2% 0.9% 144.3%63 2072 -0.2% -0.2% 0.8% 144.2%64 2073 -0.2% -0.2% 0.8% 144.2%65 2074 -0.2% -0.2% 0.7% 144.2%66 2075 -0.2% -0.2% 0.7% 144.2%67 2076 -0.2% -0.2% 0.6% 144.2%68 2077 -0.2% -0.2% 0.6% 144.2%69 2078 -0.2% -0.2% 0.5% 144.2%70 2079 -0.2% -0.2% 0.5% 144.2%71 2080 -0.2% -0.2% 0.5% 144.2%72 2081 -0.2% -0.2% 0.4% 144.2%73 2082 -0.2% -0.2% 0.4% 144.2%74 2083 -0.2% -0.2% 0.4% 144.2%75 2084 -0.2% -0.2% 0.3% 144.2%76 2085 -0.2% -0.2% 0.3% 144.2%77 2086 -0.2% -0.2% 0.3% 144.2%78 2087 -0.2% -0.2% 0.3% 144.2%79 2088 -0.2% -0.2% 0.2% 144.2%80 2089 0.2% 144.2%81 2090 0.2% 144.2%
PV 67.4% 38.8% 15.1% 8.6% 4.2% 12.3% -2.2% 144.2%Levelized 10.00% 5.76% 2.24% 1.28% 0.62% 1.83% -0.33% 21.40%
114
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
ATTACHMENT
353 Station Equipment
COMPONENTS:
Present Valu Levelizedo Book Depreciation 67.40% 10.00%o Return 36.17% 5.37%o Federal Tax 14.08% 2.09%o State Tax 6.33% 0.94%o Property Tax 4.18% 0.62%o A&G, Insurance 12.34% 1.83%o Tax Adjustment for Salvage -1.77% -0.26%
Total 138.7% 20.6%
ASSUMPTIONS:
o In-service: 2016o Book Life or Economic Life: 10 Yearso Book Salvage: 0.00%
o Calculation of Rate Base & Tax Base: in dollars
Year 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TOTAL Cash Flow: 100.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 100.0 Rate Base: 104.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 104.0 Tax Base : 102.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 102.7
o Tax Base as % of Rate Base: 98.8% (for Fed. & St. Tax Depr, and Book-Tax Depr)
Income Tax Rate
o Federal Tax: 150% DB 15 Yrs 35.0%o State Tax: 200% DB 30 Yrs 8.84%
Tax Rate In: 2016
o Property Tax Expense: Based on 1.280% of Assessed Value (Assessed Value= 0.8012 X HCLD)HCLD: Historical Cost Less Depreciation
o Overhead Expense: -- A&G 1.44%-- Insuranc 0.39%
Total 1.83%
o Authorized Rate of Return: Capital Weighted Ratio Cost Cost
-- Debt 43.00% 5.49% 2.36%-- Preferred 9.00% 5.79% 0.52%-- Common Equity 48.00% 10.45% 5.02%
Total 100.00% 7.90%
o Discount Rate: 7.90%
Notes: (1) Present Value is discounted to 2015 (2) Present Value and Levelized Carrying Charge should only be applied to capital outlays associated with regulated utility assets (3) Present Value and Levelized Carrying Charge should be applied to Total Rate Base including capitalized money costs incurred during construction period
CARRYING CHARGE COMPONENTS & ASSUMPTIONS
Tax Depreciation
115
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
Account 353 Station Equipment
Book Total Federal State Property A&G & Tax Adusted Discount Cum PV @Year Depreciation Return Income Taxes Income Taxes Tax Insurance for Salvage Total Factor 7.9%
1 2010 10.0% 7.9% 3.0% 1.5% 1.0% 1.8% 25.3% 92.7% 23.4%2 2011 10.0% 7.2% 2.8% 1.4% 0.9% 1.8% 24.2% 85.9% 44.2%3 2012 10.0% 6.6% 2.6% 1.3% 0.8% 1.8% 23.1% 79.6% 62.7%4 2013 10.0% 5.9% 2.3% 1.3% 0.7% 1.8% 22.1% 73.8% 78.9%5 2014 10.0% 5.3% 2.1% 1.2% 0.6% 1.8% 21.0% 68.4% 93.3%6 2015 10.0% 4.6% 1.8% 1.1% 0.5% 1.8% 19.9% 63.4% 105.9%7 2016 10.0% 4.0% 1.6% 1.1% 0.4% 1.8% 18.9% 58.7% 117.0%8 2017 10.0% 3.3% 1.3% 1.0% 0.3% 1.8% 17.8% 54.4% 126.7%9 2018 10.0% 2.7% 1.1% 0.9% 0.2% 1.8% 16.7% 50.4% 135.1%
10 2019 10.0% 2.0% 0.8% 0.9% 1.8% -3.8% 11.8% 46.8% 140.6%11 2020 -0.3% -0.3% 43.3% 140.5%12 2021 -0.3% -0.3% 40.2% 140.3%13 2022 -0.3% -0.3% 37.2% 140.2%14 2023 -0.3% -0.3% 34.5% 140.1%15 2024 -0.3% -0.3% 32.0% 140.0%16 2025 -0.3% -0.3% 29.6% 139.9%17 2026 -0.3% -0.3% 27.5% 139.8%18 2027 -0.3% -0.3% 25.4% 139.7%19 2028 -0.3% -0.3% 23.6% 139.7%20 2029 -0.3% -0.3% 21.9% 139.6%21 2030 -0.3% -0.3% 20.3% 139.5%22 2031 -0.3% -0.3% 18.8% 139.5%23 2032 -0.3% -0.3% 17.4% 139.4%24 2033 -0.3% -0.3% 16.1% 139.4%25 2034 -0.3% -0.3% 14.9% 139.3%26 2035 -0.3% -0.3% 13.8% 139.3%27 2036 -0.3% -0.3% 12.8% 139.2%28 2037 -0.3% -0.3% 11.9% 139.2%29 2038 -0.3% -0.3% 11.0% 139.2%30 2039 -0.3% -0.3% 10.2% 139.1%31 2040 -0.3% -0.3% 9.5% 139.1%32 2041 -0.3% -0.3% 8.8% 139.1%33 2042 -0.3% -0.3% 8.1% 139.0%34 2043 -0.3% -0.3% 7.5% 139.0%35 2044 -0.3% -0.3% 7.0% 139.0%36 2045 -0.3% -0.3% 6.5% 139.0%37 2046 -0.3% -0.3% 6.0% 139.0%38 2047 -0.3% -0.3% 5.6% 138.9%39 2048 -0.3% -0.3% 5.2% 138.9%40 2049 -0.3% -0.3% 4.8% 138.9%41 2050 -0.3% -0.3% 4.4% 138.9%42 2051 -0.3% -0.3% 4.1% 138.9%43 2052 -0.3% -0.3% 3.8% 138.9%44 2053 -0.3% -0.3% 3.5% 138.9%45 2054 -0.3% -0.3% 3.3% 138.8%46 2055 -0.3% -0.3% 3.0% 138.8%47 2056 -0.3% -0.3% 2.8% 138.8%48 2057 -0.3% -0.3% 2.6% 138.8%49 2058 -0.3% -0.3% 2.4% 138.8%50 2059 -0.3% -0.3% 2.2% 138.8%51 2060 -0.3% -0.3% 2.1% 138.8%52 2061 -0.3% -0.3% 1.9% 138.8%53 2062 -0.3% -0.3% 1.8% 138.8%
352
116
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
54 2063 -0.3% -0.3% 1.6% 138.8%55 2064 -0.3% -0.3% 1.5% 138.8%56 2065 -0.3% -0.3% 1.4% 138.8%57 2066 -0.3% -0.3% 1.3% 138.8%58 2067 -0.3% -0.3% 1.2% 138.8%59 2068 -0.3% -0.3% 1.1% 138.8%60 2069 -0.3% -0.3% 1.0% 138.8%61 2070 -0.3% -0.3% 1.0% 138.8%62 2071 -0.3% -0.3% 0.9% 138.8%63 2072 -0.3% -0.3% 0.8% 138.7%64 2073 -0.3% -0.3% 0.8% 138.7%65 2074 -0.3% -0.3% 0.7% 138.7%66 2075 -0.3% -0.3% 0.7% 138.7%67 2076 -0.3% -0.3% 0.6% 138.7%68 2077 -0.3% -0.3% 0.6% 138.7%69 2078 -0.3% -0.3% 0.5% 138.7%70 2079 -0.3% -0.3% 0.5% 138.7%71 2080 -0.3% -0.3% 0.5% 138.7%72 2081 -0.3% -0.3% 0.4% 138.7%73 2082 -0.3% -0.3% 0.4% 138.7%74 2083 -0.3% -0.3% 0.4% 138.7%75 2084 -0.3% -0.3% 0.3% 138.7%76 2085 -0.3% -0.3% 0.3% 138.7%77 2086 -0.3% -0.3% 0.3% 138.7%78 2087 -0.3% -0.3% 0.3% 138.7%79 2088 -0.3% -0.3% 0.2% 138.7%80 2089 0.2% 138.7%81 2090 0.2% 138.7%
PV 67.4% 36.2% 14.1% 6.3% 4.2% 12.3% -1.8% 138.7%Levelized 10.00% 5.37% 2.09% 0.94% 0.62% 1.83% -0.26% 20.58%
117
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
ATTACHMENT
354 Towers and Fixtures
COMPONENTS:
Present Valu Levelizedo Book Depreciation 67.40% 10.00%o Return 36.17% 5.37%o Federal Tax 14.08% 2.09%o State Tax 6.33% 0.94%o Property Tax 4.18% 0.62%o A&G, Insurance 12.34% 1.83%o Tax Adjustment for Salvage -1.77% -0.26%
Total 138.7% 20.6%
ASSUMPTIONS:
o In-service: 2016o Book Life or Economic Life: 10 Yearso Book Salvage: 0.00%
o Calculation of Rate Base & Tax Base: in dollars
Year 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TOTAL Cash Flow: 100.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 100.0 Rate Base: 104.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 104.0 Tax Base : 102.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 102.7
o Tax Base as % of Rate Base: 98.8% (for Fed. & St. Tax Depr, and Book-Tax Depr)
Income Tax Rate
o Federal Tax: 150% DB 15 Yrs 35.0%o State Tax: 200% DB 30 Yrs 8.84%
Tax Rate In: 2016
o Property Tax Expense: Based on 1.280% of Assessed Value (Assessed Value= 0.8012 X HCLD)HCLD: Historical Cost Less Depreciation
o Overhead Expense: -- A&G 1.44%-- Insuranc 0.39%
Total 1.83%
o Authorized Rate of Return: Capital Weighted Ratio Cost Cost
-- Debt 43.00% 5.49% 2.36%-- Preferred 9.00% 5.79% 0.52%-- Common Equity 48.00% 10.45% 5.02%
Total 100.00% 7.90%
o Discount Rate: 7.90%
Notes: (1) Present Value is discounted to 2015 (2) Present Value and Levelized Carrying Charge should only be applied to capital outlays associated with regulated utility assets (3) Present Value and Levelized Carrying Charge should be applied to Total Rate Base including capitalized money costs incurred during construction period
CARRYING CHARGE COMPONENTS & ASSUMPTIONS
Tax Depreciation
118
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
Account 354 Towers and Fixtures
Book Total Federal State Property A&G & Tax Adusted Discount Cum PV @Year Depreciation Return Income Taxes Income Taxes Tax Insurance for Salvage Total Factor 7.9%
1 2010 10.0% 7.9% 3.0% 1.5% 1.0% 1.8% 25.3% 92.7% 23.4%2 2011 10.0% 7.2% 2.8% 1.4% 0.9% 1.8% 24.2% 85.9% 44.2%3 2012 10.0% 6.6% 2.6% 1.3% 0.8% 1.8% 23.1% 79.6% 62.7%4 2013 10.0% 5.9% 2.3% 1.3% 0.7% 1.8% 22.1% 73.8% 78.9%5 2014 10.0% 5.3% 2.1% 1.2% 0.6% 1.8% 21.0% 68.4% 93.3%6 2015 10.0% 4.6% 1.8% 1.1% 0.5% 1.8% 19.9% 63.4% 105.9%7 2016 10.0% 4.0% 1.6% 1.1% 0.4% 1.8% 18.9% 58.7% 117.0%8 2017 10.0% 3.3% 1.3% 1.0% 0.3% 1.8% 17.8% 54.4% 126.7%9 2018 10.0% 2.7% 1.1% 0.9% 0.2% 1.8% 16.7% 50.4% 135.1%
10 2019 10.0% 2.0% 0.8% 0.9% 1.8% -3.8% 11.8% 46.8% 140.6%11 2020 -0.3% -0.3% 43.3% 140.5%12 2021 -0.3% -0.3% 40.2% 140.3%13 2022 -0.3% -0.3% 37.2% 140.2%14 2023 -0.3% -0.3% 34.5% 140.1%15 2024 -0.3% -0.3% 32.0% 140.0%16 2025 -0.3% -0.3% 29.6% 139.9%17 2026 -0.3% -0.3% 27.5% 139.8%18 2027 -0.3% -0.3% 25.4% 139.7%19 2028 -0.3% -0.3% 23.6% 139.7%20 2029 -0.3% -0.3% 21.9% 139.6%21 2030 -0.3% -0.3% 20.3% 139.5%22 2031 -0.3% -0.3% 18.8% 139.5%23 2032 -0.3% -0.3% 17.4% 139.4%24 2033 -0.3% -0.3% 16.1% 139.4%25 2034 -0.3% -0.3% 14.9% 139.3%26 2035 -0.3% -0.3% 13.8% 139.3%27 2036 -0.3% -0.3% 12.8% 139.2%28 2037 -0.3% -0.3% 11.9% 139.2%29 2038 -0.3% -0.3% 11.0% 139.2%30 2039 -0.3% -0.3% 10.2% 139.1%31 2040 -0.3% -0.3% 9.5% 139.1%32 2041 -0.3% -0.3% 8.8% 139.1%33 2042 -0.3% -0.3% 8.1% 139.0%34 2043 -0.3% -0.3% 7.5% 139.0%35 2044 -0.3% -0.3% 7.0% 139.0%36 2045 -0.3% -0.3% 6.5% 139.0%37 2046 -0.3% -0.3% 6.0% 139.0%38 2047 -0.3% -0.3% 5.6% 138.9%39 2048 -0.3% -0.3% 5.2% 138.9%40 2049 -0.3% -0.3% 4.8% 138.9%41 2050 -0.3% -0.3% 4.4% 138.9%42 2051 -0.3% -0.3% 4.1% 138.9%43 2052 -0.3% -0.3% 3.8% 138.9%44 2053 -0.3% -0.3% 3.5% 138.9%45 2054 -0.3% -0.3% 3.3% 138.8%46 2055 -0.3% -0.3% 3.0% 138.8%47 2056 -0.3% -0.3% 2.8% 138.8%48 2057 -0.3% -0.3% 2.6% 138.8%49 2058 -0.3% -0.3% 2.4% 138.8%50 2059 -0.3% -0.3% 2.2% 138.8%51 2060 -0.3% -0.3% 2.1% 138.8%52 2061 -0.3% -0.3% 1.9% 138.8%53 2062 -0.3% -0.3% 1.8% 138.8%
352
119
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
54 2063 -0.3% -0.3% 1.6% 138.8%55 2064 -0.3% -0.3% 1.5% 138.8%56 2065 -0.3% -0.3% 1.4% 138.8%57 2066 -0.3% -0.3% 1.3% 138.8%58 2067 -0.3% -0.3% 1.2% 138.8%59 2068 -0.3% -0.3% 1.1% 138.8%60 2069 -0.3% -0.3% 1.0% 138.8%61 2070 -0.3% -0.3% 1.0% 138.8%62 2071 -0.3% -0.3% 0.9% 138.8%63 2072 -0.3% -0.3% 0.8% 138.7%64 2073 -0.3% -0.3% 0.8% 138.7%65 2074 -0.3% -0.3% 0.7% 138.7%66 2075 -0.3% -0.3% 0.7% 138.7%67 2076 -0.3% -0.3% 0.6% 138.7%68 2077 -0.3% -0.3% 0.6% 138.7%69 2078 -0.3% -0.3% 0.5% 138.7%70 2079 -0.3% -0.3% 0.5% 138.7%71 2080 -0.3% -0.3% 0.5% 138.7%72 2081 -0.3% -0.3% 0.4% 138.7%73 2082 -0.3% -0.3% 0.4% 138.7%74 2083 -0.3% -0.3% 0.4% 138.7%75 2084 -0.3% -0.3% 0.3% 138.7%76 2085 -0.3% -0.3% 0.3% 138.7%77 2086 -0.3% -0.3% 0.3% 138.7%78 2087 -0.3% -0.3% 0.3% 138.7%79 2088 -0.3% -0.3% 0.2% 138.7%80 2089 0.2% 138.7%81 2090 0.2% 138.7%
PV 67.4% 36.2% 14.1% 6.3% 4.2% 12.3% -1.8% 138.7%Levelized 10.00% 5.37% 2.09% 0.94% 0.62% 1.83% -0.26% 20.58%
120
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
ATTACHMENT
355 Poles and Fixtures
COMPONENTS:
Present Valu Levelizedo Book Depreciation 67.40% 10.00%o Return 36.17% 5.37%o Federal Tax 14.08% 2.09%o State Tax 6.33% 0.94%o Property Tax 4.18% 0.62%o A&G, Insurance 12.34% 1.83%o Tax Adjustment for Salvage -1.77% -0.26%
Total 138.7% 20.6%
ASSUMPTIONS:
o In-service: 2016o Book Life or Economic Life: 10 Yearso Book Salvage: 0.00%
o Calculation of Rate Base & Tax Base: in dollars
Year 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TOTAL Cash Flow: 100.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 100.0 Rate Base: 104.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 104.0 Tax Base : 102.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 102.7
o Tax Base as % of Rate Base: 98.8% (for Fed. & St. Tax Depr, and Book-Tax Depr)
Income Tax Rate
o Federal Tax: 150% DB 15 Yrs 35.0%o State Tax: 200% DB 30 Yrs 8.84%
Tax Rate In: 2016
o Property Tax Expense: Based on 1.280% of Assessed Value (Assessed Value= 0.8012 X HCLD)HCLD: Historical Cost Less Depreciation
o Overhead Expense: -- A&G 1.44%-- Insuranc 0.39%
Total 1.83%
o Authorized Rate of Return: Capital Weighted Ratio Cost Cost
-- Debt 43.00% 5.49% 2.36%-- Preferred 9.00% 5.79% 0.52%-- Common Equity 48.00% 10.45% 5.02%
Total 100.00% 7.90%
o Discount Rate: 7.90%
Notes: (1) Present Value is discounted to 2015 (2) Present Value and Levelized Carrying Charge should only be applied to capital outlays associated with regulated utility assets (3) Present Value and Levelized Carrying Charge should be applied to Total Rate Base including capitalized money costs incurred during construction period
CARRYING CHARGE COMPONENTS & ASSUMPTIONS
Tax Depreciation
121
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
Account 355 Poles and Fixtures
Book Total Federal State Property A&G & Tax Adusted Discount Cum PV @Year Depreciation Return Income Taxes Income Taxes Tax Insurance for Salvage Total Factor 7.9%
1 2010 10.0% 7.9% 3.0% 1.5% 1.0% 1.8% 25.3% 92.7% 23.4%2 2011 10.0% 7.2% 2.8% 1.4% 0.9% 1.8% 24.2% 85.9% 44.2%3 2012 10.0% 6.6% 2.6% 1.3% 0.8% 1.8% 23.1% 79.6% 62.7%4 2013 10.0% 5.9% 2.3% 1.3% 0.7% 1.8% 22.1% 73.8% 78.9%5 2014 10.0% 5.3% 2.1% 1.2% 0.6% 1.8% 21.0% 68.4% 93.3%6 2015 10.0% 4.6% 1.8% 1.1% 0.5% 1.8% 19.9% 63.4% 105.9%7 2016 10.0% 4.0% 1.6% 1.1% 0.4% 1.8% 18.9% 58.7% 117.0%8 2017 10.0% 3.3% 1.3% 1.0% 0.3% 1.8% 17.8% 54.4% 126.7%9 2018 10.0% 2.7% 1.1% 0.9% 0.2% 1.8% 16.7% 50.4% 135.1%
10 2019 10.0% 2.0% 0.8% 0.9% 1.8% -3.8% 11.8% 46.8% 140.6%11 2020 -0.3% -0.3% 43.3% 140.5%12 2021 -0.3% -0.3% 40.2% 140.3%13 2022 -0.3% -0.3% 37.2% 140.2%14 2023 -0.3% -0.3% 34.5% 140.1%15 2024 -0.3% -0.3% 32.0% 140.0%16 2025 -0.3% -0.3% 29.6% 139.9%17 2026 -0.3% -0.3% 27.5% 139.8%18 2027 -0.3% -0.3% 25.4% 139.7%19 2028 -0.3% -0.3% 23.6% 139.7%20 2029 -0.3% -0.3% 21.9% 139.6%21 2030 -0.3% -0.3% 20.3% 139.5%22 2031 -0.3% -0.3% 18.8% 139.5%23 2032 -0.3% -0.3% 17.4% 139.4%24 2033 -0.3% -0.3% 16.1% 139.4%25 2034 -0.3% -0.3% 14.9% 139.3%26 2035 -0.3% -0.3% 13.8% 139.3%27 2036 -0.3% -0.3% 12.8% 139.2%28 2037 -0.3% -0.3% 11.9% 139.2%29 2038 -0.3% -0.3% 11.0% 139.2%30 2039 -0.3% -0.3% 10.2% 139.1%31 2040 -0.3% -0.3% 9.5% 139.1%32 2041 -0.3% -0.3% 8.8% 139.1%33 2042 -0.3% -0.3% 8.1% 139.0%34 2043 -0.3% -0.3% 7.5% 139.0%35 2044 -0.3% -0.3% 7.0% 139.0%36 2045 -0.3% -0.3% 6.5% 139.0%37 2046 -0.3% -0.3% 6.0% 139.0%38 2047 -0.3% -0.3% 5.6% 138.9%39 2048 -0.3% -0.3% 5.2% 138.9%40 2049 -0.3% -0.3% 4.8% 138.9%41 2050 -0.3% -0.3% 4.4% 138.9%42 2051 -0.3% -0.3% 4.1% 138.9%43 2052 -0.3% -0.3% 3.8% 138.9%44 2053 -0.3% -0.3% 3.5% 138.9%45 2054 -0.3% -0.3% 3.3% 138.8%46 2055 -0.3% -0.3% 3.0% 138.8%47 2056 -0.3% -0.3% 2.8% 138.8%48 2057 -0.3% -0.3% 2.6% 138.8%49 2058 -0.3% -0.3% 2.4% 138.8%50 2059 -0.3% -0.3% 2.2% 138.8%51 2060 -0.3% -0.3% 2.1% 138.8%52 2061 -0.3% -0.3% 1.9% 138.8%53 2062 -0.3% -0.3% 1.8% 138.8%
352
122
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
54 2063 -0.3% -0.3% 1.6% 138.8%55 2064 -0.3% -0.3% 1.5% 138.8%56 2065 -0.3% -0.3% 1.4% 138.8%57 2066 -0.3% -0.3% 1.3% 138.8%58 2067 -0.3% -0.3% 1.2% 138.8%59 2068 -0.3% -0.3% 1.1% 138.8%60 2069 -0.3% -0.3% 1.0% 138.8%61 2070 -0.3% -0.3% 1.0% 138.8%62 2071 -0.3% -0.3% 0.9% 138.8%63 2072 -0.3% -0.3% 0.8% 138.7%64 2073 -0.3% -0.3% 0.8% 138.7%65 2074 -0.3% -0.3% 0.7% 138.7%66 2075 -0.3% -0.3% 0.7% 138.7%67 2076 -0.3% -0.3% 0.6% 138.7%68 2077 -0.3% -0.3% 0.6% 138.7%69 2078 -0.3% -0.3% 0.5% 138.7%70 2079 -0.3% -0.3% 0.5% 138.7%71 2080 -0.3% -0.3% 0.5% 138.7%72 2081 -0.3% -0.3% 0.4% 138.7%73 2082 -0.3% -0.3% 0.4% 138.7%74 2083 -0.3% -0.3% 0.4% 138.7%75 2084 -0.3% -0.3% 0.3% 138.7%76 2085 -0.3% -0.3% 0.3% 138.7%77 2086 -0.3% -0.3% 0.3% 138.7%78 2087 -0.3% -0.3% 0.3% 138.7%79 2088 -0.3% -0.3% 0.2% 138.7%80 2089 0.2% 138.7%81 2090 0.2% 138.7%
PV 67.4% 36.2% 14.1% 6.3% 4.2% 12.3% -1.8% 138.7%Levelized 10.00% 5.37% 2.09% 0.94% 0.62% 1.83% -0.26% 20.58%
123
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
ATTACHMENT
356 Overhead Cond & Devices
COMPONENTS:
Present Valu Levelizedo Book Depreciation 67.40% 10.00%o Return 36.17% 5.37%o Federal Tax 14.08% 2.09%o State Tax 6.33% 0.94%o Property Tax 4.18% 0.62%o A&G, Insurance 12.34% 1.83%o Tax Adjustment for Salvage -1.77% -0.26%
Total 138.7% 20.6%
ASSUMPTIONS:
o In-service: 2016o Book Life or Economic Life: 10 Yearso Book Salvage: 0.00%
o Calculation of Rate Base & Tax Base: in dollars
Year 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TOTAL Cash Flow: 100.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 100.0 Rate Base: 104.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 104.0 Tax Base : 102.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 102.7
o Tax Base as % of Rate Base: 98.8% (for Fed. & St. Tax Depr, and Book-Tax Depr)
Income Tax Rate
o Federal Tax: 150% DB 15 Yrs 35.0%o State Tax: 200% DB 30 Yrs 8.84%
Tax Rate In: 2016
o Property Tax Expense: Based on 1.280% of Assessed Value (Assessed Value= 0.8012 X HCLD)HCLD: Historical Cost Less Depreciation
o Overhead Expense: -- A&G 1.44%-- Insuranc 0.39%
Total 1.83%
o Authorized Rate of Return: Capital Weighted Ratio Cost Cost
-- Debt 43.00% 5.49% 2.36%-- Preferred 9.00% 5.79% 0.52%-- Common Equity 48.00% 10.45% 5.02%
Total 100.00% 7.90%
o Discount Rate: 7.90%
Notes: (1) Present Value is discounted to 2015 (2) Present Value and Levelized Carrying Charge should only be applied to capital outlays associated with regulated utility assets (3) Present Value and Levelized Carrying Charge should be applied to Total Rate Base including capitalized money costs incurred during construction period
CARRYING CHARGE COMPONENTS & ASSUMPTIONS
Tax Depreciation
124
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
Account 356 Overhead Cond & Devices
Book Total Federal State Property A&G & Tax Adusted Discount Cum PV @Year Depreciation Return Income Taxes Income Taxes Tax Insurance for Salvage Total Factor 7.9%
1 2010 10.0% 7.9% 3.0% 1.5% 1.0% 1.8% 25.3% 92.7% 23.4%2 2011 10.0% 7.2% 2.8% 1.4% 0.9% 1.8% 24.2% 85.9% 44.2%3 2012 10.0% 6.6% 2.6% 1.3% 0.8% 1.8% 23.1% 79.6% 62.7%4 2013 10.0% 5.9% 2.3% 1.3% 0.7% 1.8% 22.1% 73.8% 78.9%5 2014 10.0% 5.3% 2.1% 1.2% 0.6% 1.8% 21.0% 68.4% 93.3%6 2015 10.0% 4.6% 1.8% 1.1% 0.5% 1.8% 19.9% 63.4% 105.9%7 2016 10.0% 4.0% 1.6% 1.1% 0.4% 1.8% 18.9% 58.7% 117.0%8 2017 10.0% 3.3% 1.3% 1.0% 0.3% 1.8% 17.8% 54.4% 126.7%9 2018 10.0% 2.7% 1.1% 0.9% 0.2% 1.8% 16.7% 50.4% 135.1%
10 2019 10.0% 2.0% 0.8% 0.9% 1.8% -3.8% 11.8% 46.8% 140.6%11 2020 -0.3% -0.3% 43.3% 140.5%12 2021 -0.3% -0.3% 40.2% 140.3%13 2022 -0.3% -0.3% 37.2% 140.2%14 2023 -0.3% -0.3% 34.5% 140.1%15 2024 -0.3% -0.3% 32.0% 140.0%16 2025 -0.3% -0.3% 29.6% 139.9%17 2026 -0.3% -0.3% 27.5% 139.8%18 2027 -0.3% -0.3% 25.4% 139.7%19 2028 -0.3% -0.3% 23.6% 139.7%20 2029 -0.3% -0.3% 21.9% 139.6%21 2030 -0.3% -0.3% 20.3% 139.5%22 2031 -0.3% -0.3% 18.8% 139.5%23 2032 -0.3% -0.3% 17.4% 139.4%24 2033 -0.3% -0.3% 16.1% 139.4%25 2034 -0.3% -0.3% 14.9% 139.3%26 2035 -0.3% -0.3% 13.8% 139.3%27 2036 -0.3% -0.3% 12.8% 139.2%28 2037 -0.3% -0.3% 11.9% 139.2%29 2038 -0.3% -0.3% 11.0% 139.2%30 2039 -0.3% -0.3% 10.2% 139.1%31 2040 -0.3% -0.3% 9.5% 139.1%32 2041 -0.3% -0.3% 8.8% 139.1%33 2042 -0.3% -0.3% 8.1% 139.0%34 2043 -0.3% -0.3% 7.5% 139.0%35 2044 -0.3% -0.3% 7.0% 139.0%36 2045 -0.3% -0.3% 6.5% 139.0%37 2046 -0.3% -0.3% 6.0% 139.0%38 2047 -0.3% -0.3% 5.6% 138.9%39 2048 -0.3% -0.3% 5.2% 138.9%40 2049 -0.3% -0.3% 4.8% 138.9%41 2050 -0.3% -0.3% 4.4% 138.9%42 2051 -0.3% -0.3% 4.1% 138.9%43 2052 -0.3% -0.3% 3.8% 138.9%44 2053 -0.3% -0.3% 3.5% 138.9%45 2054 -0.3% -0.3% 3.3% 138.8%46 2055 -0.3% -0.3% 3.0% 138.8%47 2056 -0.3% -0.3% 2.8% 138.8%48 2057 -0.3% -0.3% 2.6% 138.8%49 2058 -0.3% -0.3% 2.4% 138.8%50 2059 -0.3% -0.3% 2.2% 138.8%51 2060 -0.3% -0.3% 2.1% 138.8%52 2061 -0.3% -0.3% 1.9% 138.8%53 2062 -0.3% -0.3% 1.8% 138.8%
352
125
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
54 2063 -0.3% -0.3% 1.6% 138.8%55 2064 -0.3% -0.3% 1.5% 138.8%56 2065 -0.3% -0.3% 1.4% 138.8%57 2066 -0.3% -0.3% 1.3% 138.8%58 2067 -0.3% -0.3% 1.2% 138.8%59 2068 -0.3% -0.3% 1.1% 138.8%60 2069 -0.3% -0.3% 1.0% 138.8%61 2070 -0.3% -0.3% 1.0% 138.8%62 2071 -0.3% -0.3% 0.9% 138.8%63 2072 -0.3% -0.3% 0.8% 138.7%64 2073 -0.3% -0.3% 0.8% 138.7%65 2074 -0.3% -0.3% 0.7% 138.7%66 2075 -0.3% -0.3% 0.7% 138.7%67 2076 -0.3% -0.3% 0.6% 138.7%68 2077 -0.3% -0.3% 0.6% 138.7%69 2078 -0.3% -0.3% 0.5% 138.7%70 2079 -0.3% -0.3% 0.5% 138.7%71 2080 -0.3% -0.3% 0.5% 138.7%72 2081 -0.3% -0.3% 0.4% 138.7%73 2082 -0.3% -0.3% 0.4% 138.7%74 2083 -0.3% -0.3% 0.4% 138.7%75 2084 -0.3% -0.3% 0.3% 138.7%76 2085 -0.3% -0.3% 0.3% 138.7%77 2086 -0.3% -0.3% 0.3% 138.7%78 2087 -0.3% -0.3% 0.3% 138.7%79 2088 -0.3% -0.3% 0.2% 138.7%80 2089 0.2% 138.7%81 2090 0.2% 138.7%
PV 67.4% 36.2% 14.1% 6.3% 4.2% 12.3% -1.8% 138.7%Levelized 10.00% 5.37% 2.09% 0.94% 0.62% 1.83% -0.26% 20.58%
126
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
ATTACHMENT
357 Underground Conduit
COMPONENTS:
Present Valu Levelizedo Book Depreciation 67.40% 10.00%o Return 36.17% 5.37%o Federal Tax 14.08% 2.09%o State Tax 6.33% 0.94%o Property Tax 4.18% 0.62%o A&G, Insurance 12.34% 1.83%o Tax Adjustment for Salvage -1.77% -0.26%
Total 138.7% 20.6%
ASSUMPTIONS:
o In-service: 2016o Book Life or Economic Life: 10 Yearso Book Salvage: 0.00%
o Calculation of Rate Base & Tax Base: in dollars
Year 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TOTAL Cash Flow: 100.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 100.0 Rate Base: 104.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 104.0 Tax Base : 102.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 102.7
o Tax Base as % of Rate Base: 98.8% (for Fed. & St. Tax Depr, and Book-Tax Depr)
Income Tax Rate
o Federal Tax: 150% DB 15 Yrs 35.0%o State Tax: 200% DB 30 Yrs 8.84%
Tax Rate In: 2016
o Property Tax Expense: Based on 1.280% of Assessed Value (Assessed Value= 0.8012 X HCLD)HCLD: Historical Cost Less Depreciation
o Overhead Expense: -- A&G 1.44%-- Insuranc 0.39%
Total 1.83%
o Authorized Rate of Return: Capital Weighted Ratio Cost Cost
-- Debt 43.00% 5.49% 2.36%-- Preferred 9.00% 5.79% 0.52%-- Common Equity 48.00% 10.45% 5.02%
Total 100.00% 7.90%
o Discount Rate: 7.90%
Notes: (1) Present Value is discounted to 2015 (2) Present Value and Levelized Carrying Charge should only be applied to capital outlays associated with regulated utility assets (3) Present Value and Levelized Carrying Charge should be applied to Total Rate Base including capitalized money costs incurred during construction period
CARRYING CHARGE COMPONENTS & ASSUMPTIONS
Tax Depreciation
127
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
Account 357 Underground Conduit
Book Total Federal State Property A&G & Tax Adusted Discount Cum PV @Year Depreciation Return Income Taxes Income Taxes Tax Insurance for Salvage Total Factor 7.9%
1 2010 10.0% 7.9% 3.0% 1.5% 1.0% 1.8% 25.3% 92.7% 23.4%2 2011 10.0% 7.2% 2.8% 1.4% 0.9% 1.8% 24.2% 85.9% 44.2%3 2012 10.0% 6.6% 2.6% 1.3% 0.8% 1.8% 23.1% 79.6% 62.7%4 2013 10.0% 5.9% 2.3% 1.3% 0.7% 1.8% 22.1% 73.8% 78.9%5 2014 10.0% 5.3% 2.1% 1.2% 0.6% 1.8% 21.0% 68.4% 93.3%6 2015 10.0% 4.6% 1.8% 1.1% 0.5% 1.8% 19.9% 63.4% 105.9%7 2016 10.0% 4.0% 1.6% 1.1% 0.4% 1.8% 18.9% 58.7% 117.0%8 2017 10.0% 3.3% 1.3% 1.0% 0.3% 1.8% 17.8% 54.4% 126.7%9 2018 10.0% 2.7% 1.1% 0.9% 0.2% 1.8% 16.7% 50.4% 135.1%
10 2019 10.0% 2.0% 0.8% 0.9% 1.8% -3.8% 11.8% 46.8% 140.6%11 2020 -0.3% -0.3% 43.3% 140.5%12 2021 -0.3% -0.3% 40.2% 140.3%13 2022 -0.3% -0.3% 37.2% 140.2%14 2023 -0.3% -0.3% 34.5% 140.1%15 2024 -0.3% -0.3% 32.0% 140.0%16 2025 -0.3% -0.3% 29.6% 139.9%17 2026 -0.3% -0.3% 27.5% 139.8%18 2027 -0.3% -0.3% 25.4% 139.7%19 2028 -0.3% -0.3% 23.6% 139.7%20 2029 -0.3% -0.3% 21.9% 139.6%21 2030 -0.3% -0.3% 20.3% 139.5%22 2031 -0.3% -0.3% 18.8% 139.5%23 2032 -0.3% -0.3% 17.4% 139.4%24 2033 -0.3% -0.3% 16.1% 139.4%25 2034 -0.3% -0.3% 14.9% 139.3%26 2035 -0.3% -0.3% 13.8% 139.3%27 2036 -0.3% -0.3% 12.8% 139.2%28 2037 -0.3% -0.3% 11.9% 139.2%29 2038 -0.3% -0.3% 11.0% 139.2%30 2039 -0.3% -0.3% 10.2% 139.1%31 2040 -0.3% -0.3% 9.5% 139.1%32 2041 -0.3% -0.3% 8.8% 139.1%33 2042 -0.3% -0.3% 8.1% 139.0%34 2043 -0.3% -0.3% 7.5% 139.0%35 2044 -0.3% -0.3% 7.0% 139.0%36 2045 -0.3% -0.3% 6.5% 139.0%37 2046 -0.3% -0.3% 6.0% 139.0%38 2047 -0.3% -0.3% 5.6% 138.9%39 2048 -0.3% -0.3% 5.2% 138.9%40 2049 -0.3% -0.3% 4.8% 138.9%41 2050 -0.3% -0.3% 4.4% 138.9%42 2051 -0.3% -0.3% 4.1% 138.9%43 2052 -0.3% -0.3% 3.8% 138.9%44 2053 -0.3% -0.3% 3.5% 138.9%45 2054 -0.3% -0.3% 3.3% 138.8%46 2055 -0.3% -0.3% 3.0% 138.8%47 2056 -0.3% -0.3% 2.8% 138.8%48 2057 -0.3% -0.3% 2.6% 138.8%49 2058 -0.3% -0.3% 2.4% 138.8%50 2059 -0.3% -0.3% 2.2% 138.8%51 2060 -0.3% -0.3% 2.1% 138.8%52 2061 -0.3% -0.3% 1.9% 138.8%53 2062 -0.3% -0.3% 1.8% 138.8%
352
128
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
54 2063 -0.3% -0.3% 1.6% 138.8%55 2064 -0.3% -0.3% 1.5% 138.8%56 2065 -0.3% -0.3% 1.4% 138.8%57 2066 -0.3% -0.3% 1.3% 138.8%58 2067 -0.3% -0.3% 1.2% 138.8%59 2068 -0.3% -0.3% 1.1% 138.8%60 2069 -0.3% -0.3% 1.0% 138.8%61 2070 -0.3% -0.3% 1.0% 138.8%62 2071 -0.3% -0.3% 0.9% 138.8%63 2072 -0.3% -0.3% 0.8% 138.7%64 2073 -0.3% -0.3% 0.8% 138.7%65 2074 -0.3% -0.3% 0.7% 138.7%66 2075 -0.3% -0.3% 0.7% 138.7%67 2076 -0.3% -0.3% 0.6% 138.7%68 2077 -0.3% -0.3% 0.6% 138.7%69 2078 -0.3% -0.3% 0.5% 138.7%70 2079 -0.3% -0.3% 0.5% 138.7%71 2080 -0.3% -0.3% 0.5% 138.7%72 2081 -0.3% -0.3% 0.4% 138.7%73 2082 -0.3% -0.3% 0.4% 138.7%74 2083 -0.3% -0.3% 0.4% 138.7%75 2084 -0.3% -0.3% 0.3% 138.7%76 2085 -0.3% -0.3% 0.3% 138.7%77 2086 -0.3% -0.3% 0.3% 138.7%78 2087 -0.3% -0.3% 0.3% 138.7%79 2088 -0.3% -0.3% 0.2% 138.7%80 2089 0.2% 138.7%81 2090 0.2% 138.7%
PV 67.4% 36.2% 14.1% 6.3% 4.2% 12.3% -1.8% 138.7%Levelized 10.00% 5.37% 2.09% 0.94% 0.62% 1.83% -0.26% 20.58%
129
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
ATTACHMENT
358 Underground Cond & Devices
COMPONENTS:
Present Valu Levelizedo Book Depreciation 67.40% 10.00%o Return 36.17% 5.37%o Federal Tax 14.08% 2.09%o State Tax 6.33% 0.94%o Property Tax 4.18% 0.62%o A&G, Insurance 12.34% 1.83%o Tax Adjustment for Salvage -1.77% -0.26%
Total 138.7% 20.6%
ASSUMPTIONS:
o In-service: 2016o Book Life or Economic Life: 10 Yearso Book Salvage: 0.00%
o Calculation of Rate Base & Tax Base: in dollars
Year 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TOTAL Cash Flow: 100.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 100.0 Rate Base: 104.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 104.0 Tax Base : 102.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 102.7
o Tax Base as % of Rate Base: 98.8% (for Fed. & St. Tax Depr, and Book-Tax Depr)
Income Tax Rate
o Federal Tax: 150% DB 15 Yrs 35.0%o State Tax: 200% DB 30 Yrs 8.84%
Tax Rate In: 2016
o Property Tax Expense: Based on 1.280% of Assessed Value (Assessed Value= 0.8012 X HCLD)HCLD: Historical Cost Less Depreciation
o Overhead Expense: -- A&G 1.44%-- Insuranc 0.39%
Total 1.83%
o Authorized Rate of Return: Capital Weighted Ratio Cost Cost
-- Debt 43.00% 5.49% 2.36%-- Preferred 9.00% 5.79% 0.52%-- Common Equity 48.00% 10.45% 5.02%
Total 100.00% 7.90%
o Discount Rate: 7.90%
Notes: (1) Present Value is discounted to 2015 (2) Present Value and Levelized Carrying Charge should only be applied to capital outlays associated with regulated utility assets (3) Present Value and Levelized Carrying Charge should be applied to Total Rate Base including capitalized money costs incurred during construction period
CARRYING CHARGE COMPONENTS & ASSUMPTIONS
Tax Depreciation
130
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
Account 358 Underground Cond & Devices
Book Total Federal State Property A&G & Tax Adusted Discount Cum PV @Year Depreciation Return Income Taxes Income Taxes Tax Insurance for Salvage Total Factor 7.9%
1 2010 10.0% 7.9% 3.0% 1.5% 1.0% 1.8% 25.3% 92.7% 23.4%2 2011 10.0% 7.2% 2.8% 1.4% 0.9% 1.8% 24.2% 85.9% 44.2%3 2012 10.0% 6.6% 2.6% 1.3% 0.8% 1.8% 23.1% 79.6% 62.7%4 2013 10.0% 5.9% 2.3% 1.3% 0.7% 1.8% 22.1% 73.8% 78.9%5 2014 10.0% 5.3% 2.1% 1.2% 0.6% 1.8% 21.0% 68.4% 93.3%6 2015 10.0% 4.6% 1.8% 1.1% 0.5% 1.8% 19.9% 63.4% 105.9%7 2016 10.0% 4.0% 1.6% 1.1% 0.4% 1.8% 18.9% 58.7% 117.0%8 2017 10.0% 3.3% 1.3% 1.0% 0.3% 1.8% 17.8% 54.4% 126.7%9 2018 10.0% 2.7% 1.1% 0.9% 0.2% 1.8% 16.7% 50.4% 135.1%
10 2019 10.0% 2.0% 0.8% 0.9% 1.8% -3.8% 11.8% 46.8% 140.6%11 2020 -0.3% -0.3% 43.3% 140.5%12 2021 -0.3% -0.3% 40.2% 140.3%13 2022 -0.3% -0.3% 37.2% 140.2%14 2023 -0.3% -0.3% 34.5% 140.1%15 2024 -0.3% -0.3% 32.0% 140.0%16 2025 -0.3% -0.3% 29.6% 139.9%17 2026 -0.3% -0.3% 27.5% 139.8%18 2027 -0.3% -0.3% 25.4% 139.7%19 2028 -0.3% -0.3% 23.6% 139.7%20 2029 -0.3% -0.3% 21.9% 139.6%21 2030 -0.3% -0.3% 20.3% 139.5%22 2031 -0.3% -0.3% 18.8% 139.5%23 2032 -0.3% -0.3% 17.4% 139.4%24 2033 -0.3% -0.3% 16.1% 139.4%25 2034 -0.3% -0.3% 14.9% 139.3%26 2035 -0.3% -0.3% 13.8% 139.3%27 2036 -0.3% -0.3% 12.8% 139.2%28 2037 -0.3% -0.3% 11.9% 139.2%29 2038 -0.3% -0.3% 11.0% 139.2%30 2039 -0.3% -0.3% 10.2% 139.1%31 2040 -0.3% -0.3% 9.5% 139.1%32 2041 -0.3% -0.3% 8.8% 139.1%33 2042 -0.3% -0.3% 8.1% 139.0%34 2043 -0.3% -0.3% 7.5% 139.0%35 2044 -0.3% -0.3% 7.0% 139.0%36 2045 -0.3% -0.3% 6.5% 139.0%37 2046 -0.3% -0.3% 6.0% 139.0%38 2047 -0.3% -0.3% 5.6% 138.9%39 2048 -0.3% -0.3% 5.2% 138.9%40 2049 -0.3% -0.3% 4.8% 138.9%41 2050 -0.3% -0.3% 4.4% 138.9%42 2051 -0.3% -0.3% 4.1% 138.9%43 2052 -0.3% -0.3% 3.8% 138.9%44 2053 -0.3% -0.3% 3.5% 138.9%45 2054 -0.3% -0.3% 3.3% 138.8%46 2055 -0.3% -0.3% 3.0% 138.8%47 2056 -0.3% -0.3% 2.8% 138.8%48 2057 -0.3% -0.3% 2.6% 138.8%49 2058 -0.3% -0.3% 2.4% 138.8%50 2059 -0.3% -0.3% 2.2% 138.8%51 2060 -0.3% -0.3% 2.1% 138.8%52 2061 -0.3% -0.3% 1.9% 138.8%53 2062 -0.3% -0.3% 1.8% 138.8%
352
131
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
54 2063 -0.3% -0.3% 1.6% 138.8%55 2064 -0.3% -0.3% 1.5% 138.8%56 2065 -0.3% -0.3% 1.4% 138.8%57 2066 -0.3% -0.3% 1.3% 138.8%58 2067 -0.3% -0.3% 1.2% 138.8%59 2068 -0.3% -0.3% 1.1% 138.8%60 2069 -0.3% -0.3% 1.0% 138.8%61 2070 -0.3% -0.3% 1.0% 138.8%62 2071 -0.3% -0.3% 0.9% 138.8%63 2072 -0.3% -0.3% 0.8% 138.7%64 2073 -0.3% -0.3% 0.8% 138.7%65 2074 -0.3% -0.3% 0.7% 138.7%66 2075 -0.3% -0.3% 0.7% 138.7%67 2076 -0.3% -0.3% 0.6% 138.7%68 2077 -0.3% -0.3% 0.6% 138.7%69 2078 -0.3% -0.3% 0.5% 138.7%70 2079 -0.3% -0.3% 0.5% 138.7%71 2080 -0.3% -0.3% 0.5% 138.7%72 2081 -0.3% -0.3% 0.4% 138.7%73 2082 -0.3% -0.3% 0.4% 138.7%74 2083 -0.3% -0.3% 0.4% 138.7%75 2084 -0.3% -0.3% 0.3% 138.7%76 2085 -0.3% -0.3% 0.3% 138.7%77 2086 -0.3% -0.3% 0.3% 138.7%78 2087 -0.3% -0.3% 0.3% 138.7%79 2088 -0.3% -0.3% 0.2% 138.7%80 2089 0.2% 138.7%81 2090 0.2% 138.7%
PV 67.4% 36.2% 14.1% 6.3% 4.2% 12.3% -1.8% 138.7%Levelized 10.00% 5.37% 2.09% 0.94% 0.62% 1.83% -0.26% 20.58%
132
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
ATTACHMENT
359 Roads and Trails
COMPONENTS:
Present Valu Levelizedo Book Depreciation 67.40% 10.00%o Return 37.06% 5.50%o Federal Tax 14.42% 2.14%o State Tax 6.42% 0.95%o Property Tax 4.18% 0.62%o A&G, Insurance 12.34% 1.83%o Tax Adjustment for Salvage -1.77% -0.26%
Total 140.0% 20.8%
ASSUMPTIONS:
o In-service: 2016o Book Life or Economic Life: 10 Yearso Book Salvage: 0.00%
o Calculation of Rate Base & Tax Base: in dollars
Year 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TOTAL Cash Flow: 100.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 100.0 Rate Base: 104.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 104.0 Tax Base : 102.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 102.7
o Tax Base as % of Rate Base: 98.8% (for Fed. & St. Tax Depr, and Book-Tax Depr)
Income Tax Rate
o Federal Tax: 150% DB 20 Yrs 35.0%o State Tax: 200% DB 30 Yrs 8.84%
Tax Rate In: 2016
o Property Tax Expense: Based on 1.280% of Assessed Value (Assessed Value= 0.8012 X HCLD)HCLD: Historical Cost Less Depreciation
o Overhead Expense: -- A&G 1.44%-- Insuranc 0.39%
Total 1.83%
o Authorized Rate of Return: Capital Weighted Ratio Cost Cost
-- Debt 43.00% 5.49% 2.36%-- Preferred 9.00% 5.79% 0.52%-- Common Equity 48.00% 10.45% 5.02%
Total 100.00% 7.90%
o Discount Rate: 7.90%
Notes: (1) Present Value is discounted to 2015 (2) Present Value and Levelized Carrying Charge should only be applied to capital outlays associated with regulated utility assets (3) Present Value and Levelized Carrying Charge should be applied to Total Rate Base including capitalized money costs incurred during construction period
CARRYING CHARGE COMPONENTS & ASSUMPTIONS
Tax Depreciation
133
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
Account 359 Roads and Trails
Book Total Federal State Property A&G & Tax Adusted Discount Cum PV @Year Depreciation Return Income Taxes Income Taxes Tax Insurance for Salvage Total Factor 7.9%
1 2010 10.0% 7.9% 3.0% 1.5% 1.0% 1.8% 25.3% 92.7% 23.4%2 2011 10.0% 7.3% 2.8% 1.4% 0.9% 1.8% 24.3% 85.9% 44.3%3 2012 10.0% 6.7% 2.6% 1.4% 0.8% 1.8% 23.2% 79.6% 62.8%4 2013 10.0% 6.0% 2.3% 1.3% 0.7% 1.8% 22.2% 73.8% 79.2%5 2014 10.0% 5.4% 2.1% 1.2% 0.6% 1.8% 21.2% 68.4% 93.7%6 2015 10.0% 4.8% 1.9% 1.2% 0.5% 1.8% 20.2% 63.4% 106.5%7 2016 10.0% 4.2% 1.6% 1.1% 0.4% 1.8% 19.2% 58.7% 117.7%8 2017 10.0% 3.6% 1.4% 1.0% 0.3% 1.8% 18.1% 54.4% 127.6%9 2018 10.0% 2.9% 1.2% 1.0% 0.2% 1.8% 17.1% 50.4% 136.2%
10 2019 10.0% 2.3% 0.9% 0.9% 1.8% -3.8% 12.2% 46.8% 141.9%11 2020 -0.3% -0.3% 43.3% 141.8%12 2021 -0.3% -0.3% 40.2% 141.7%13 2022 -0.3% -0.3% 37.2% 141.5%14 2023 -0.3% -0.3% 34.5% 141.4%15 2024 -0.3% -0.3% 32.0% 141.3%16 2025 -0.3% -0.3% 29.6% 141.2%17 2026 -0.3% -0.3% 27.5% 141.1%18 2027 -0.3% -0.3% 25.4% 141.1%19 2028 -0.3% -0.3% 23.6% 141.0%20 2029 -0.3% -0.3% 21.9% 140.9%21 2030 -0.3% -0.3% 20.3% 140.9%22 2031 -0.3% -0.3% 18.8% 140.8%23 2032 -0.3% -0.3% 17.4% 140.7%24 2033 -0.3% -0.3% 16.1% 140.7%25 2034 -0.3% -0.3% 14.9% 140.6%26 2035 -0.3% -0.3% 13.8% 140.6%27 2036 -0.3% -0.3% 12.8% 140.6%28 2037 -0.3% -0.3% 11.9% 140.5%29 2038 -0.3% -0.3% 11.0% 140.5%30 2039 -0.3% -0.3% 10.2% 140.5%31 2040 -0.3% -0.3% 9.5% 140.4%32 2041 -0.3% -0.3% 8.8% 140.4%33 2042 -0.3% -0.3% 8.1% 140.4%34 2043 -0.3% -0.3% 7.5% 140.3%35 2044 -0.3% -0.3% 7.0% 140.3%36 2045 -0.3% -0.3% 6.5% 140.3%37 2046 -0.3% -0.3% 6.0% 140.3%38 2047 -0.3% -0.3% 5.6% 140.3%39 2048 -0.3% -0.3% 5.2% 140.2%40 2049 -0.3% -0.3% 4.8% 140.2%41 2050 -0.3% -0.3% 4.4% 140.2%42 2051 -0.3% -0.3% 4.1% 140.2%43 2052 -0.3% -0.3% 3.8% 140.2%44 2053 -0.3% -0.3% 3.5% 140.2%45 2054 -0.3% -0.3% 3.3% 140.2%46 2055 -0.3% -0.3% 3.0% 140.2%47 2056 -0.3% -0.3% 2.8% 140.2%48 2057 -0.3% -0.3% 2.6% 140.1%49 2058 -0.3% -0.3% 2.4% 140.1%50 2059 -0.3% -0.3% 2.2% 140.1%51 2060 -0.3% -0.3% 2.1% 140.1%52 2061 -0.3% -0.3% 1.9% 140.1%53 2062 -0.3% -0.3% 1.8% 140.1%
352
134
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
54 2063 -0.3% -0.3% 1.6% 140.1%55 2064 -0.3% -0.3% 1.5% 140.1%56 2065 -0.3% -0.3% 1.4% 140.1%57 2066 -0.3% -0.3% 1.3% 140.1%58 2067 -0.3% -0.3% 1.2% 140.1%59 2068 -0.3% -0.3% 1.1% 140.1%60 2069 -0.3% -0.3% 1.0% 140.1%61 2070 -0.3% -0.3% 1.0% 140.1%62 2071 -0.3% -0.3% 0.9% 140.1%63 2072 -0.3% -0.3% 0.8% 140.1%64 2073 -0.3% -0.3% 0.8% 140.1%65 2074 -0.3% -0.3% 0.7% 140.1%66 2075 -0.3% -0.3% 0.7% 140.1%67 2076 -0.3% -0.3% 0.6% 140.1%68 2077 -0.3% -0.3% 0.6% 140.1%69 2078 -0.3% -0.3% 0.5% 140.1%70 2079 -0.3% -0.3% 0.5% 140.1%71 2080 -0.3% -0.3% 0.5% 140.1%72 2081 -0.3% -0.3% 0.4% 140.1%73 2082 -0.3% -0.3% 0.4% 140.1%74 2083 -0.3% -0.3% 0.4% 140.1%75 2084 -0.3% -0.3% 0.3% 140.1%76 2085 -0.3% -0.3% 0.3% 140.1%77 2086 -0.3% -0.3% 0.3% 140.1%78 2087 -0.3% -0.3% 0.3% 140.1%79 2088 -0.3% -0.3% 0.2% 140.0%80 2089 0.2% 140.0%81 2090 0.2% 140.0%
PV 67.4% 37.1% 14.4% 6.4% 4.2% 12.3% -1.8% 140.0%Levelized 10.00% 5.50% 2.14% 0.95% 0.62% 1.83% -0.26% 20.78%
135
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
ATTACHMENT
361 Structures and Improvements
COMPONENTS:
Present Valu Levelizedo Book Depreciation 67.40% 10.00%o Return 38.82% 5.76%o Federal Tax 15.08% 2.24%o State Tax 8.62% 1.28%o Property Tax 4.18% 0.62%o A&G, Insurance 12.34% 1.83%o Tax Adjustment for Salvage -2.21% -0.33%
Total 144.2% 21.4%
ASSUMPTIONS:
o In-service: 2016o Book Life or Economic Life: 10 Yearso Book Salvage: 0.00%
o Calculation of Rate Base & Tax Base: in dollars
Year 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TOTAL Cash Flow: 100.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 100.0 Rate Base: 104.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 104.0 Tax Base : 102.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 102.7
o Tax Base as % of Rate Base: 98.8% (for Fed. & St. Tax Depr, and Book-Tax Depr)
Income Tax Rate
o Federal Tax: SL 39 Yrs 35.0%o State Tax: 150% DB 45 Yrs 8.84%
Tax Rate In: 2016
o Property Tax Expense: Based on 1.280% of Assessed Value (Assessed Value= 0.8012 X HCLD)HCLD: Historical Cost Less Depreciation
o Overhead Expense: -- A&G 1.44%-- Insuranc 0.39%
Total 1.83%
o Authorized Rate of Return: Capital Weighted Ratio Cost Cost
-- Debt 43.00% 5.49% 2.36%-- Preferred 9.00% 5.79% 0.52%-- Common Equity 48.00% 10.45% 5.02%
Total 100.00% 7.90%
o Discount Rate: 7.90%
Notes: (1) Present Value is discounted to 2015 (2) Present Value and Levelized Carrying Charge should only be applied to capital outlays associated with regulated utility assets (3) Present Value and Levelized Carrying Charge should be applied to Total Rate Base including capitalized money costs incurred during construction period
CARRYING CHARGE COMPONENTS & ASSUMPTIONS
Tax Depreciation
136
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
Account 361 Structures and Improvements
Book Total Federal State Property A&G & Tax Adusted Discount Cum PV @Year Depreciation Return Income Taxes Income Taxes Tax Insurance for Salvage Total Factor 7.9%
1 2010 10.0% 7.9% 3.0% 1.6% 1.0% 1.8% 25.4% 92.7% 23.6%2 2011 10.0% 7.3% 2.8% 1.6% 0.9% 1.8% 24.5% 85.9% 44.6%3 2012 10.0% 6.8% 2.6% 1.5% 0.8% 1.8% 23.6% 79.6% 63.4%4 2013 10.0% 6.2% 2.4% 1.5% 0.7% 1.8% 22.7% 73.8% 80.2%5 2014 10.0% 5.7% 2.2% 1.4% 0.6% 1.8% 21.8% 68.4% 95.0%6 2015 10.0% 5.1% 2.0% 1.4% 0.5% 1.8% 20.8% 63.4% 108.3%7 2016 10.0% 4.6% 1.8% 1.3% 0.4% 1.8% 19.9% 58.7% 120.0%8 2017 10.0% 4.0% 1.6% 1.2% 0.3% 1.8% 19.0% 54.4% 130.3%9 2018 10.0% 3.5% 1.4% 1.2% 0.2% 1.8% 18.1% 50.4% 139.4%
10 2019 10.0% 2.9% 1.2% 1.1% 1.8% -4.7% 12.3% 46.8% 145.2%11 2020 -0.2% -0.2% 43.3% 145.1%12 2021 -0.2% -0.2% 40.2% 145.0%13 2022 -0.2% -0.2% 37.2% 145.0%14 2023 -0.2% -0.2% 34.5% 144.9%15 2024 -0.2% -0.2% 32.0% 144.9%16 2025 -0.2% -0.2% 29.6% 144.8%17 2026 -0.2% -0.2% 27.5% 144.8%18 2027 -0.2% -0.2% 25.4% 144.7%19 2028 -0.2% -0.2% 23.6% 144.7%20 2029 -0.2% -0.2% 21.9% 144.7%21 2030 -0.2% -0.2% 20.3% 144.6%22 2031 -0.2% -0.2% 18.8% 144.6%23 2032 -0.2% -0.2% 17.4% 144.6%24 2033 -0.2% -0.2% 16.1% 144.6%25 2034 -0.2% -0.2% 14.9% 144.5%26 2035 -0.2% -0.2% 13.8% 144.5%27 2036 -0.2% -0.2% 12.8% 144.5%28 2037 -0.2% -0.2% 11.9% 144.5%29 2038 -0.2% -0.2% 11.0% 144.5%30 2039 -0.2% -0.2% 10.2% 144.4%31 2040 -0.2% -0.2% 9.5% 144.4%32 2041 -0.2% -0.2% 8.8% 144.4%33 2042 -0.2% -0.2% 8.1% 144.4%34 2043 -0.2% -0.2% 7.5% 144.4%35 2044 -0.2% -0.2% 7.0% 144.4%36 2045 -0.2% -0.2% 6.5% 144.4%37 2046 -0.2% -0.2% 6.0% 144.4%38 2047 -0.2% -0.2% 5.6% 144.3%39 2048 -0.2% -0.2% 5.2% 144.3%40 2049 -0.2% -0.2% 4.8% 144.3%41 2050 -0.2% -0.2% 4.4% 144.3%42 2051 -0.2% -0.2% 4.1% 144.3%43 2052 -0.2% -0.2% 3.8% 144.3%44 2053 -0.2% -0.2% 3.5% 144.3%45 2054 -0.2% -0.2% 3.3% 144.3%46 2055 -0.2% -0.2% 3.0% 144.3%47 2056 -0.2% -0.2% 2.8% 144.3%48 2057 -0.2% -0.2% 2.6% 144.3%49 2058 -0.2% -0.2% 2.4% 144.3%50 2059 -0.2% -0.2% 2.2% 144.3%51 2060 -0.2% -0.2% 2.1% 144.3%52 2061 -0.2% -0.2% 1.9% 144.3%53 2062 -0.2% -0.2% 1.8% 144.3%
352
137
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
54 2063 -0.2% -0.2% 1.6% 144.3%55 2064 -0.2% -0.2% 1.5% 144.3%56 2065 -0.2% -0.2% 1.4% 144.3%57 2066 -0.2% -0.2% 1.3% 144.3%58 2067 -0.2% -0.2% 1.2% 144.3%59 2068 -0.2% -0.2% 1.1% 144.3%60 2069 -0.2% -0.2% 1.0% 144.3%61 2070 -0.2% -0.2% 1.0% 144.3%62 2071 -0.2% -0.2% 0.9% 144.3%63 2072 -0.2% -0.2% 0.8% 144.2%64 2073 -0.2% -0.2% 0.8% 144.2%65 2074 -0.2% -0.2% 0.7% 144.2%66 2075 -0.2% -0.2% 0.7% 144.2%67 2076 -0.2% -0.2% 0.6% 144.2%68 2077 -0.2% -0.2% 0.6% 144.2%69 2078 -0.2% -0.2% 0.5% 144.2%70 2079 -0.2% -0.2% 0.5% 144.2%71 2080 -0.2% -0.2% 0.5% 144.2%72 2081 -0.2% -0.2% 0.4% 144.2%73 2082 -0.2% -0.2% 0.4% 144.2%74 2083 -0.2% -0.2% 0.4% 144.2%75 2084 -0.2% -0.2% 0.3% 144.2%76 2085 -0.2% -0.2% 0.3% 144.2%77 2086 -0.2% -0.2% 0.3% 144.2%78 2087 -0.2% -0.2% 0.3% 144.2%79 2088 -0.2% -0.2% 0.2% 144.2%80 2089 0.2% 144.2%81 2090 0.2% 144.2%
PV 67.4% 38.8% 15.1% 8.6% 4.2% 12.3% -2.2% 144.2%Levelized 10.00% 5.76% 2.24% 1.28% 0.62% 1.83% -0.33% 21.40%
138
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
ATTACHMENT
362 Station Equipment
COMPONENTS:
Present Valu Levelizedo Book Depreciation 67.40% 10.00%o Return 37.06% 5.50%o Federal Tax 14.42% 2.14%o State Tax 6.42% 0.95%o Property Tax 4.18% 0.62%o A&G, Insurance 12.34% 1.83%o Tax Adjustment for Salvage -1.77% -0.26%
Total 140.0% 20.8%
ASSUMPTIONS:
o In-service: 2016o Book Life or Economic Life: 10 Yearso Book Salvage: 0.00%
o Calculation of Rate Base & Tax Base: in dollars
Year 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TOTAL Cash Flow: 100.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 100.0 Rate Base: 104.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 104.0 Tax Base : 102.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 102.7
o Tax Base as % of Rate Base: 98.8% (for Fed. & St. Tax Depr, and Book-Tax Depr)
Income Tax Rate
o Federal Tax: 150% DB 20 Yrs 35.0%o State Tax: 200% DB 30 Yrs 8.84%
Tax Rate In: 2016
o Property Tax Expense: Based on 1.280% of Assessed Value (Assessed Value= 0.8012 X HCLD)HCLD: Historical Cost Less Depreciation
o Overhead Expense: -- A&G 1.44%-- Insuranc 0.39%
Total 1.83%
o Authorized Rate of Return: Capital Weighted Ratio Cost Cost
-- Debt 43.00% 5.49% 2.36%-- Preferred 9.00% 5.79% 0.52%-- Common Equity 48.00% 10.45% 5.02%
Total 100.00% 7.90%
o Discount Rate: 7.90%
Notes: (1) Present Value is discounted to 2015 (2) Present Value and Levelized Carrying Charge should only be applied to capital outlays associated with regulated utility assets (3) Present Value and Levelized Carrying Charge should be applied to Total Rate Base including capitalized money costs incurred during construction period
CARRYING CHARGE COMPONENTS & ASSUMPTIONS
Tax Depreciation
139
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
Account 362 Station Equipment
Book Total Federal State Property A&G & Tax Adusted Discount Cum PV @Year Depreciation Return Income Taxes Income Taxes Tax Insurance for Salvage Total Factor 7.9%
1 2010 10.0% 7.9% 3.0% 1.5% 1.0% 1.8% 25.3% 92.7% 23.4%2 2011 10.0% 7.3% 2.8% 1.4% 0.9% 1.8% 24.3% 85.9% 44.3%3 2012 10.0% 6.7% 2.6% 1.4% 0.8% 1.8% 23.2% 79.6% 62.8%4 2013 10.0% 6.0% 2.3% 1.3% 0.7% 1.8% 22.2% 73.8% 79.2%5 2014 10.0% 5.4% 2.1% 1.2% 0.6% 1.8% 21.2% 68.4% 93.7%6 2015 10.0% 4.8% 1.9% 1.2% 0.5% 1.8% 20.2% 63.4% 106.5%7 2016 10.0% 4.2% 1.6% 1.1% 0.4% 1.8% 19.2% 58.7% 117.7%8 2017 10.0% 3.6% 1.4% 1.0% 0.3% 1.8% 18.1% 54.4% 127.6%9 2018 10.0% 2.9% 1.2% 1.0% 0.2% 1.8% 17.1% 50.4% 136.2%
10 2019 10.0% 2.3% 0.9% 0.9% 1.8% -3.8% 12.2% 46.8% 141.9%11 2020 -0.3% -0.3% 43.3% 141.8%12 2021 -0.3% -0.3% 40.2% 141.7%13 2022 -0.3% -0.3% 37.2% 141.5%14 2023 -0.3% -0.3% 34.5% 141.4%15 2024 -0.3% -0.3% 32.0% 141.3%16 2025 -0.3% -0.3% 29.6% 141.2%17 2026 -0.3% -0.3% 27.5% 141.1%18 2027 -0.3% -0.3% 25.4% 141.1%19 2028 -0.3% -0.3% 23.6% 141.0%20 2029 -0.3% -0.3% 21.9% 140.9%21 2030 -0.3% -0.3% 20.3% 140.9%22 2031 -0.3% -0.3% 18.8% 140.8%23 2032 -0.3% -0.3% 17.4% 140.7%24 2033 -0.3% -0.3% 16.1% 140.7%25 2034 -0.3% -0.3% 14.9% 140.6%26 2035 -0.3% -0.3% 13.8% 140.6%27 2036 -0.3% -0.3% 12.8% 140.6%28 2037 -0.3% -0.3% 11.9% 140.5%29 2038 -0.3% -0.3% 11.0% 140.5%30 2039 -0.3% -0.3% 10.2% 140.5%31 2040 -0.3% -0.3% 9.5% 140.4%32 2041 -0.3% -0.3% 8.8% 140.4%33 2042 -0.3% -0.3% 8.1% 140.4%34 2043 -0.3% -0.3% 7.5% 140.3%35 2044 -0.3% -0.3% 7.0% 140.3%36 2045 -0.3% -0.3% 6.5% 140.3%37 2046 -0.3% -0.3% 6.0% 140.3%38 2047 -0.3% -0.3% 5.6% 140.3%39 2048 -0.3% -0.3% 5.2% 140.2%40 2049 -0.3% -0.3% 4.8% 140.2%41 2050 -0.3% -0.3% 4.4% 140.2%42 2051 -0.3% -0.3% 4.1% 140.2%43 2052 -0.3% -0.3% 3.8% 140.2%44 2053 -0.3% -0.3% 3.5% 140.2%45 2054 -0.3% -0.3% 3.3% 140.2%46 2055 -0.3% -0.3% 3.0% 140.2%47 2056 -0.3% -0.3% 2.8% 140.2%48 2057 -0.3% -0.3% 2.6% 140.1%49 2058 -0.3% -0.3% 2.4% 140.1%50 2059 -0.3% -0.3% 2.2% 140.1%51 2060 -0.3% -0.3% 2.1% 140.1%52 2061 -0.3% -0.3% 1.9% 140.1%53 2062 -0.3% -0.3% 1.8% 140.1%
352
140
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
54 2063 -0.3% -0.3% 1.6% 140.1%55 2064 -0.3% -0.3% 1.5% 140.1%56 2065 -0.3% -0.3% 1.4% 140.1%57 2066 -0.3% -0.3% 1.3% 140.1%58 2067 -0.3% -0.3% 1.2% 140.1%59 2068 -0.3% -0.3% 1.1% 140.1%60 2069 -0.3% -0.3% 1.0% 140.1%61 2070 -0.3% -0.3% 1.0% 140.1%62 2071 -0.3% -0.3% 0.9% 140.1%63 2072 -0.3% -0.3% 0.8% 140.1%64 2073 -0.3% -0.3% 0.8% 140.1%65 2074 -0.3% -0.3% 0.7% 140.1%66 2075 -0.3% -0.3% 0.7% 140.1%67 2076 -0.3% -0.3% 0.6% 140.1%68 2077 -0.3% -0.3% 0.6% 140.1%69 2078 -0.3% -0.3% 0.5% 140.1%70 2079 -0.3% -0.3% 0.5% 140.1%71 2080 -0.3% -0.3% 0.5% 140.1%72 2081 -0.3% -0.3% 0.4% 140.1%73 2082 -0.3% -0.3% 0.4% 140.1%74 2083 -0.3% -0.3% 0.4% 140.1%75 2084 -0.3% -0.3% 0.3% 140.1%76 2085 -0.3% -0.3% 0.3% 140.1%77 2086 -0.3% -0.3% 0.3% 140.1%78 2087 -0.3% -0.3% 0.3% 140.1%79 2088 -0.3% -0.3% 0.2% 140.0%80 2089 0.2% 140.0%81 2090 0.2% 140.0%
PV 67.4% 37.1% 14.4% 6.4% 4.2% 12.3% -1.8% 140.0%Levelized 10.00% 5.50% 2.14% 0.95% 0.62% 1.83% -0.26% 20.78%
141
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
ATTACHMENT
364 Poles, Towers and Fixtures
COMPONENTS:
Present Valu Levelizedo Book Depreciation 67.40% 10.00%o Return 37.06% 5.50%o Federal Tax 14.42% 2.14%o State Tax 6.42% 0.95%o Property Tax 4.18% 0.62%o A&G, Insurance 12.34% 1.83%o Tax Adjustment for Salvage -1.77% -0.26%
Total 140.0% 20.8%
ASSUMPTIONS:
o In-service: 2016o Book Life or Economic Life: 10 Yearso Book Salvage: 0.00%
o Calculation of Rate Base & Tax Base: in dollars
Year 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TOTAL Cash Flow: 100.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 100.0 Rate Base: 104.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 104.0 Tax Base : 102.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 102.7
o Tax Base as % of Rate Base: 98.8% (for Fed. & St. Tax Depr, and Book-Tax Depr)
Income Tax Rate
o Federal Tax: 150% DB 20 Yrs 35.0%o State Tax: 200% DB 30 Yrs 8.84%
Tax Rate In: 2016
o Property Tax Expense: Based on 1.280% of Assessed Value (Assessed Value= 0.8012 X HCLD)HCLD: Historical Cost Less Depreciation
o Overhead Expense: -- A&G 1.44%-- Insuranc 0.39%
Total 1.83%
o Authorized Rate of Return: Capital Weighted Ratio Cost Cost
-- Debt 43.00% 5.49% 2.36%-- Preferred 9.00% 5.79% 0.52%-- Common Equity 48.00% 10.45% 5.02%
Total 100.00% 7.90%
o Discount Rate: 7.90%
Notes: (1) Present Value is discounted to 2015 (2) Present Value and Levelized Carrying Charge should only be applied to capital outlays associated with regulated utility assets (3) Present Value and Levelized Carrying Charge should be applied to Total Rate Base including capitalized money costs incurred during construction period
CARRYING CHARGE COMPONENTS & ASSUMPTIONS
Tax Depreciation
142
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
Account 364 Poles, Towers and Fixtures
Book Total Federal State Property A&G & Tax Adusted Discount Cum PV @Year Depreciation Return Income Taxes Income Taxes Tax Insurance for Salvage Total Factor 7.9%
1 2010 10.0% 7.9% 3.0% 1.5% 1.0% 1.8% 25.3% 92.7% 23.4%2 2011 10.0% 7.3% 2.8% 1.4% 0.9% 1.8% 24.3% 85.9% 44.3%3 2012 10.0% 6.7% 2.6% 1.4% 0.8% 1.8% 23.2% 79.6% 62.8%4 2013 10.0% 6.0% 2.3% 1.3% 0.7% 1.8% 22.2% 73.8% 79.2%5 2014 10.0% 5.4% 2.1% 1.2% 0.6% 1.8% 21.2% 68.4% 93.7%6 2015 10.0% 4.8% 1.9% 1.2% 0.5% 1.8% 20.2% 63.4% 106.5%7 2016 10.0% 4.2% 1.6% 1.1% 0.4% 1.8% 19.2% 58.7% 117.7%8 2017 10.0% 3.6% 1.4% 1.0% 0.3% 1.8% 18.1% 54.4% 127.6%9 2018 10.0% 2.9% 1.2% 1.0% 0.2% 1.8% 17.1% 50.4% 136.2%
10 2019 10.0% 2.3% 0.9% 0.9% 1.8% -3.8% 12.2% 46.8% 141.9%11 2020 -0.3% -0.3% 43.3% 141.8%12 2021 -0.3% -0.3% 40.2% 141.7%13 2022 -0.3% -0.3% 37.2% 141.5%14 2023 -0.3% -0.3% 34.5% 141.4%15 2024 -0.3% -0.3% 32.0% 141.3%16 2025 -0.3% -0.3% 29.6% 141.2%17 2026 -0.3% -0.3% 27.5% 141.1%18 2027 -0.3% -0.3% 25.4% 141.1%19 2028 -0.3% -0.3% 23.6% 141.0%20 2029 -0.3% -0.3% 21.9% 140.9%21 2030 -0.3% -0.3% 20.3% 140.9%22 2031 -0.3% -0.3% 18.8% 140.8%23 2032 -0.3% -0.3% 17.4% 140.7%24 2033 -0.3% -0.3% 16.1% 140.7%25 2034 -0.3% -0.3% 14.9% 140.6%26 2035 -0.3% -0.3% 13.8% 140.6%27 2036 -0.3% -0.3% 12.8% 140.6%28 2037 -0.3% -0.3% 11.9% 140.5%29 2038 -0.3% -0.3% 11.0% 140.5%30 2039 -0.3% -0.3% 10.2% 140.5%31 2040 -0.3% -0.3% 9.5% 140.4%32 2041 -0.3% -0.3% 8.8% 140.4%33 2042 -0.3% -0.3% 8.1% 140.4%34 2043 -0.3% -0.3% 7.5% 140.3%35 2044 -0.3% -0.3% 7.0% 140.3%36 2045 -0.3% -0.3% 6.5% 140.3%37 2046 -0.3% -0.3% 6.0% 140.3%38 2047 -0.3% -0.3% 5.6% 140.3%39 2048 -0.3% -0.3% 5.2% 140.2%40 2049 -0.3% -0.3% 4.8% 140.2%41 2050 -0.3% -0.3% 4.4% 140.2%42 2051 -0.3% -0.3% 4.1% 140.2%43 2052 -0.3% -0.3% 3.8% 140.2%44 2053 -0.3% -0.3% 3.5% 140.2%45 2054 -0.3% -0.3% 3.3% 140.2%46 2055 -0.3% -0.3% 3.0% 140.2%47 2056 -0.3% -0.3% 2.8% 140.2%48 2057 -0.3% -0.3% 2.6% 140.1%49 2058 -0.3% -0.3% 2.4% 140.1%50 2059 -0.3% -0.3% 2.2% 140.1%51 2060 -0.3% -0.3% 2.1% 140.1%52 2061 -0.3% -0.3% 1.9% 140.1%53 2062 -0.3% -0.3% 1.8% 140.1%
352
143
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
54 2063 -0.3% -0.3% 1.6% 140.1%55 2064 -0.3% -0.3% 1.5% 140.1%56 2065 -0.3% -0.3% 1.4% 140.1%57 2066 -0.3% -0.3% 1.3% 140.1%58 2067 -0.3% -0.3% 1.2% 140.1%59 2068 -0.3% -0.3% 1.1% 140.1%60 2069 -0.3% -0.3% 1.0% 140.1%61 2070 -0.3% -0.3% 1.0% 140.1%62 2071 -0.3% -0.3% 0.9% 140.1%63 2072 -0.3% -0.3% 0.8% 140.1%64 2073 -0.3% -0.3% 0.8% 140.1%65 2074 -0.3% -0.3% 0.7% 140.1%66 2075 -0.3% -0.3% 0.7% 140.1%67 2076 -0.3% -0.3% 0.6% 140.1%68 2077 -0.3% -0.3% 0.6% 140.1%69 2078 -0.3% -0.3% 0.5% 140.1%70 2079 -0.3% -0.3% 0.5% 140.1%71 2080 -0.3% -0.3% 0.5% 140.1%72 2081 -0.3% -0.3% 0.4% 140.1%73 2082 -0.3% -0.3% 0.4% 140.1%74 2083 -0.3% -0.3% 0.4% 140.1%75 2084 -0.3% -0.3% 0.3% 140.1%76 2085 -0.3% -0.3% 0.3% 140.1%77 2086 -0.3% -0.3% 0.3% 140.1%78 2087 -0.3% -0.3% 0.3% 140.1%79 2088 -0.3% -0.3% 0.2% 140.0%80 2089 0.2% 140.0%81 2090 0.2% 140.0%
PV 67.4% 37.1% 14.4% 6.4% 4.2% 12.3% -1.8% 140.0%Levelized 10.00% 5.50% 2.14% 0.95% 0.62% 1.83% -0.26% 20.78%
144
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
ATTACHMENT
365 Overhead Cond & Devices
COMPONENTS:
Present Valu Levelizedo Book Depreciation 67.40% 10.00%o Return 37.06% 5.50%o Federal Tax 14.42% 2.14%o State Tax 6.42% 0.95%o Property Tax 4.18% 0.62%o A&G, Insurance 12.34% 1.83%o Tax Adjustment for Salvage -1.77% -0.26%
Total 140.0% 20.8%
ASSUMPTIONS:
o In-service: 2016o Book Life or Economic Life: 10 Yearso Book Salvage: 0.00%
o Calculation of Rate Base & Tax Base: in dollars
Year 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TOTAL Cash Flow: 100.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 100.0 Rate Base: 104.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 104.0 Tax Base : 102.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 102.7
o Tax Base as % of Rate Base: 98.8% (for Fed. & St. Tax Depr, and Book-Tax Depr)
Income Tax Rate
o Federal Tax: 150% DB 20 Yrs 35.0%o State Tax: 200% DB 30 Yrs 8.84%
Tax Rate In: 2016
o Property Tax Expense: Based on 1.280% of Assessed Value (Assessed Value= 0.8012 X HCLD)HCLD: Historical Cost Less Depreciation
o Overhead Expense: -- A&G 1.44%-- Insuranc 0.39%
Total 1.83%
o Authorized Rate of Return: Capital Weighted Ratio Cost Cost
-- Debt 43.00% 5.49% 2.36%-- Preferred 9.00% 5.79% 0.52%-- Common Equity 48.00% 10.45% 5.02%
Total 100.00% 7.90%
o Discount Rate: 7.90%
Notes: (1) Present Value is discounted to 2015 (2) Present Value and Levelized Carrying Charge should only be applied to capital outlays associated with regulated utility assets (3) Present Value and Levelized Carrying Charge should be applied to Total Rate Base including capitalized money costs incurred during construction period
CARRYING CHARGE COMPONENTS & ASSUMPTIONS
Tax Depreciation
145
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
Account 365 Overhead Cond & Devices
Book Total Federal State Property A&G & Tax Adusted Discount Cum PV @Year Depreciation Return Income Taxes Income Taxes Tax Insurance for Salvage Total Factor 7.9%
1 2010 10.0% 7.9% 3.0% 1.5% 1.0% 1.8% 25.3% 92.7% 23.4%2 2011 10.0% 7.3% 2.8% 1.4% 0.9% 1.8% 24.3% 85.9% 44.3%3 2012 10.0% 6.7% 2.6% 1.4% 0.8% 1.8% 23.2% 79.6% 62.8%4 2013 10.0% 6.0% 2.3% 1.3% 0.7% 1.8% 22.2% 73.8% 79.2%5 2014 10.0% 5.4% 2.1% 1.2% 0.6% 1.8% 21.2% 68.4% 93.7%6 2015 10.0% 4.8% 1.9% 1.2% 0.5% 1.8% 20.2% 63.4% 106.5%7 2016 10.0% 4.2% 1.6% 1.1% 0.4% 1.8% 19.2% 58.7% 117.7%8 2017 10.0% 3.6% 1.4% 1.0% 0.3% 1.8% 18.1% 54.4% 127.6%9 2018 10.0% 2.9% 1.2% 1.0% 0.2% 1.8% 17.1% 50.4% 136.2%
10 2019 10.0% 2.3% 0.9% 0.9% 1.8% -3.8% 12.2% 46.8% 141.9%11 2020 -0.3% -0.3% 43.3% 141.8%12 2021 -0.3% -0.3% 40.2% 141.7%13 2022 -0.3% -0.3% 37.2% 141.5%14 2023 -0.3% -0.3% 34.5% 141.4%15 2024 -0.3% -0.3% 32.0% 141.3%16 2025 -0.3% -0.3% 29.6% 141.2%17 2026 -0.3% -0.3% 27.5% 141.1%18 2027 -0.3% -0.3% 25.4% 141.1%19 2028 -0.3% -0.3% 23.6% 141.0%20 2029 -0.3% -0.3% 21.9% 140.9%21 2030 -0.3% -0.3% 20.3% 140.9%22 2031 -0.3% -0.3% 18.8% 140.8%23 2032 -0.3% -0.3% 17.4% 140.7%24 2033 -0.3% -0.3% 16.1% 140.7%25 2034 -0.3% -0.3% 14.9% 140.6%26 2035 -0.3% -0.3% 13.8% 140.6%27 2036 -0.3% -0.3% 12.8% 140.6%28 2037 -0.3% -0.3% 11.9% 140.5%29 2038 -0.3% -0.3% 11.0% 140.5%30 2039 -0.3% -0.3% 10.2% 140.5%31 2040 -0.3% -0.3% 9.5% 140.4%32 2041 -0.3% -0.3% 8.8% 140.4%33 2042 -0.3% -0.3% 8.1% 140.4%34 2043 -0.3% -0.3% 7.5% 140.3%35 2044 -0.3% -0.3% 7.0% 140.3%36 2045 -0.3% -0.3% 6.5% 140.3%37 2046 -0.3% -0.3% 6.0% 140.3%38 2047 -0.3% -0.3% 5.6% 140.3%39 2048 -0.3% -0.3% 5.2% 140.2%40 2049 -0.3% -0.3% 4.8% 140.2%41 2050 -0.3% -0.3% 4.4% 140.2%42 2051 -0.3% -0.3% 4.1% 140.2%43 2052 -0.3% -0.3% 3.8% 140.2%44 2053 -0.3% -0.3% 3.5% 140.2%45 2054 -0.3% -0.3% 3.3% 140.2%46 2055 -0.3% -0.3% 3.0% 140.2%47 2056 -0.3% -0.3% 2.8% 140.2%48 2057 -0.3% -0.3% 2.6% 140.1%49 2058 -0.3% -0.3% 2.4% 140.1%50 2059 -0.3% -0.3% 2.2% 140.1%51 2060 -0.3% -0.3% 2.1% 140.1%52 2061 -0.3% -0.3% 1.9% 140.1%53 2062 -0.3% -0.3% 1.8% 140.1%
352
146
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
54 2063 -0.3% -0.3% 1.6% 140.1%55 2064 -0.3% -0.3% 1.5% 140.1%56 2065 -0.3% -0.3% 1.4% 140.1%57 2066 -0.3% -0.3% 1.3% 140.1%58 2067 -0.3% -0.3% 1.2% 140.1%59 2068 -0.3% -0.3% 1.1% 140.1%60 2069 -0.3% -0.3% 1.0% 140.1%61 2070 -0.3% -0.3% 1.0% 140.1%62 2071 -0.3% -0.3% 0.9% 140.1%63 2072 -0.3% -0.3% 0.8% 140.1%64 2073 -0.3% -0.3% 0.8% 140.1%65 2074 -0.3% -0.3% 0.7% 140.1%66 2075 -0.3% -0.3% 0.7% 140.1%67 2076 -0.3% -0.3% 0.6% 140.1%68 2077 -0.3% -0.3% 0.6% 140.1%69 2078 -0.3% -0.3% 0.5% 140.1%70 2079 -0.3% -0.3% 0.5% 140.1%71 2080 -0.3% -0.3% 0.5% 140.1%72 2081 -0.3% -0.3% 0.4% 140.1%73 2082 -0.3% -0.3% 0.4% 140.1%74 2083 -0.3% -0.3% 0.4% 140.1%75 2084 -0.3% -0.3% 0.3% 140.1%76 2085 -0.3% -0.3% 0.3% 140.1%77 2086 -0.3% -0.3% 0.3% 140.1%78 2087 -0.3% -0.3% 0.3% 140.1%79 2088 -0.3% -0.3% 0.2% 140.0%80 2089 0.2% 140.0%81 2090 0.2% 140.0%
PV 67.4% 37.1% 14.4% 6.4% 4.2% 12.3% -1.8% 140.0%Levelized 10.00% 5.50% 2.14% 0.95% 0.62% 1.83% -0.26% 20.78%
147
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
ATTACHMENT
366 Underground Conduit
COMPONENTS:
Present Valu Levelizedo Book Depreciation 67.40% 10.00%o Return 37.06% 5.50%o Federal Tax 14.42% 2.14%o State Tax 6.42% 0.95%o Property Tax 4.18% 0.62%o A&G, Insurance 12.34% 1.83%o Tax Adjustment for Salvage -1.77% -0.26%
Total 140.0% 20.8%
ASSUMPTIONS:
o In-service: 2016o Book Life or Economic Life: 10 Yearso Book Salvage: 0.00%
o Calculation of Rate Base & Tax Base: in dollars
Year 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TOTAL Cash Flow: 100.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 100.0 Rate Base: 104.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 104.0 Tax Base : 102.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 102.7
o Tax Base as % of Rate Base: 98.8% (for Fed. & St. Tax Depr, and Book-Tax Depr)
Income Tax Rate
o Federal Tax: 150% DB 20 Yrs 35.0%o State Tax: 200% DB 30 Yrs 8.84%
Tax Rate In: 2016
o Property Tax Expense: Based on 1.280% of Assessed Value (Assessed Value= 0.8012 X HCLD)HCLD: Historical Cost Less Depreciation
o Overhead Expense: -- A&G 1.44%-- Insuranc 0.39%
Total 1.83%
o Authorized Rate of Return: Capital Weighted Ratio Cost Cost
-- Debt 43.00% 5.49% 2.36%-- Preferred 9.00% 5.79% 0.52%-- Common Equity 48.00% 10.45% 5.02%
Total 100.00% 7.90%
o Discount Rate: 7.90%
Notes: (1) Present Value is discounted to 2015 (2) Present Value and Levelized Carrying Charge should only be applied to capital outlays associated with regulated utility assets (3) Present Value and Levelized Carrying Charge should be applied to Total Rate Base including capitalized money costs incurred during construction period
CARRYING CHARGE COMPONENTS & ASSUMPTIONS
Tax Depreciation
148
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
Account 366 Underground Conduit
Book Total Federal State Property A&G & Tax Adusted Discount Cum PV @Year Depreciation Return Income Taxes Income Taxes Tax Insurance for Salvage Total Factor 7.9%
1 2010 10.0% 7.9% 3.0% 1.5% 1.0% 1.8% 25.3% 92.7% 23.4%2 2011 10.0% 7.3% 2.8% 1.4% 0.9% 1.8% 24.3% 85.9% 44.3%3 2012 10.0% 6.7% 2.6% 1.4% 0.8% 1.8% 23.2% 79.6% 62.8%4 2013 10.0% 6.0% 2.3% 1.3% 0.7% 1.8% 22.2% 73.8% 79.2%5 2014 10.0% 5.4% 2.1% 1.2% 0.6% 1.8% 21.2% 68.4% 93.7%6 2015 10.0% 4.8% 1.9% 1.2% 0.5% 1.8% 20.2% 63.4% 106.5%7 2016 10.0% 4.2% 1.6% 1.1% 0.4% 1.8% 19.2% 58.7% 117.7%8 2017 10.0% 3.6% 1.4% 1.0% 0.3% 1.8% 18.1% 54.4% 127.6%9 2018 10.0% 2.9% 1.2% 1.0% 0.2% 1.8% 17.1% 50.4% 136.2%
10 2019 10.0% 2.3% 0.9% 0.9% 1.8% -3.8% 12.2% 46.8% 141.9%11 2020 -0.3% -0.3% 43.3% 141.8%12 2021 -0.3% -0.3% 40.2% 141.7%13 2022 -0.3% -0.3% 37.2% 141.5%14 2023 -0.3% -0.3% 34.5% 141.4%15 2024 -0.3% -0.3% 32.0% 141.3%16 2025 -0.3% -0.3% 29.6% 141.2%17 2026 -0.3% -0.3% 27.5% 141.1%18 2027 -0.3% -0.3% 25.4% 141.1%19 2028 -0.3% -0.3% 23.6% 141.0%20 2029 -0.3% -0.3% 21.9% 140.9%21 2030 -0.3% -0.3% 20.3% 140.9%22 2031 -0.3% -0.3% 18.8% 140.8%23 2032 -0.3% -0.3% 17.4% 140.7%24 2033 -0.3% -0.3% 16.1% 140.7%25 2034 -0.3% -0.3% 14.9% 140.6%26 2035 -0.3% -0.3% 13.8% 140.6%27 2036 -0.3% -0.3% 12.8% 140.6%28 2037 -0.3% -0.3% 11.9% 140.5%29 2038 -0.3% -0.3% 11.0% 140.5%30 2039 -0.3% -0.3% 10.2% 140.5%31 2040 -0.3% -0.3% 9.5% 140.4%32 2041 -0.3% -0.3% 8.8% 140.4%33 2042 -0.3% -0.3% 8.1% 140.4%34 2043 -0.3% -0.3% 7.5% 140.3%35 2044 -0.3% -0.3% 7.0% 140.3%36 2045 -0.3% -0.3% 6.5% 140.3%37 2046 -0.3% -0.3% 6.0% 140.3%38 2047 -0.3% -0.3% 5.6% 140.3%39 2048 -0.3% -0.3% 5.2% 140.2%40 2049 -0.3% -0.3% 4.8% 140.2%41 2050 -0.3% -0.3% 4.4% 140.2%42 2051 -0.3% -0.3% 4.1% 140.2%43 2052 -0.3% -0.3% 3.8% 140.2%44 2053 -0.3% -0.3% 3.5% 140.2%45 2054 -0.3% -0.3% 3.3% 140.2%46 2055 -0.3% -0.3% 3.0% 140.2%47 2056 -0.3% -0.3% 2.8% 140.2%48 2057 -0.3% -0.3% 2.6% 140.1%49 2058 -0.3% -0.3% 2.4% 140.1%50 2059 -0.3% -0.3% 2.2% 140.1%51 2060 -0.3% -0.3% 2.1% 140.1%52 2061 -0.3% -0.3% 1.9% 140.1%53 2062 -0.3% -0.3% 1.8% 140.1%
352
149
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
54 2063 -0.3% -0.3% 1.6% 140.1%55 2064 -0.3% -0.3% 1.5% 140.1%56 2065 -0.3% -0.3% 1.4% 140.1%57 2066 -0.3% -0.3% 1.3% 140.1%58 2067 -0.3% -0.3% 1.2% 140.1%59 2068 -0.3% -0.3% 1.1% 140.1%60 2069 -0.3% -0.3% 1.0% 140.1%61 2070 -0.3% -0.3% 1.0% 140.1%62 2071 -0.3% -0.3% 0.9% 140.1%63 2072 -0.3% -0.3% 0.8% 140.1%64 2073 -0.3% -0.3% 0.8% 140.1%65 2074 -0.3% -0.3% 0.7% 140.1%66 2075 -0.3% -0.3% 0.7% 140.1%67 2076 -0.3% -0.3% 0.6% 140.1%68 2077 -0.3% -0.3% 0.6% 140.1%69 2078 -0.3% -0.3% 0.5% 140.1%70 2079 -0.3% -0.3% 0.5% 140.1%71 2080 -0.3% -0.3% 0.5% 140.1%72 2081 -0.3% -0.3% 0.4% 140.1%73 2082 -0.3% -0.3% 0.4% 140.1%74 2083 -0.3% -0.3% 0.4% 140.1%75 2084 -0.3% -0.3% 0.3% 140.1%76 2085 -0.3% -0.3% 0.3% 140.1%77 2086 -0.3% -0.3% 0.3% 140.1%78 2087 -0.3% -0.3% 0.3% 140.1%79 2088 -0.3% -0.3% 0.2% 140.0%80 2089 0.2% 140.0%81 2090 0.2% 140.0%
PV 67.4% 37.1% 14.4% 6.4% 4.2% 12.3% -1.8% 140.0%Levelized 10.00% 5.50% 2.14% 0.95% 0.62% 1.83% -0.26% 20.78%
150
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
ATTACHMENT
367 Underground Cond & Devices
COMPONENTS:
Present Valu Levelizedo Book Depreciation 67.40% 10.00%o Return 37.06% 5.50%o Federal Tax 14.42% 2.14%o State Tax 6.42% 0.95%o Property Tax 4.18% 0.62%o A&G, Insurance 12.34% 1.83%o Tax Adjustment for Salvage -1.77% -0.26%
Total 140.0% 20.8%
ASSUMPTIONS:
o In-service: 2016o Book Life or Economic Life: 10 Yearso Book Salvage: 0.00%
o Calculation of Rate Base & Tax Base: in dollars
Year 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TOTAL Cash Flow: 100.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 100.0 Rate Base: 104.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 104.0 Tax Base : 102.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 102.7
o Tax Base as % of Rate Base: 98.8% (for Fed. & St. Tax Depr, and Book-Tax Depr)
Income Tax Rate
o Federal Tax: 150% DB 20 Yrs 35.0%o State Tax: 200% DB 30 Yrs 8.84%
Tax Rate In: 2016
o Property Tax Expense: Based on 1.280% of Assessed Value (Assessed Value= 0.8012 X HCLD)HCLD: Historical Cost Less Depreciation
o Overhead Expense: -- A&G 1.44%-- Insuranc 0.39%
Total 1.83%
o Authorized Rate of Return: Capital Weighted Ratio Cost Cost
-- Debt 43.00% 5.49% 2.36%-- Preferred 9.00% 5.79% 0.52%-- Common Equity 48.00% 10.45% 5.02%
Total 100.00% 7.90%
o Discount Rate: 7.90%
Notes: (1) Present Value is discounted to 2015 (2) Present Value and Levelized Carrying Charge should only be applied to capital outlays associated with regulated utility assets (3) Present Value and Levelized Carrying Charge should be applied to Total Rate Base including capitalized money costs incurred during construction period
CARRYING CHARGE COMPONENTS & ASSUMPTIONS
Tax Depreciation
151
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
Account 367 Underground Cond & Devices
Book Total Federal State Property A&G & Tax Adusted Discount Cum PV @Year Depreciation Return Income Taxes Income Taxes Tax Insurance for Salvage Total Factor 7.9%
1 2010 10.0% 7.9% 3.0% 1.5% 1.0% 1.8% 25.3% 92.7% 23.4%2 2011 10.0% 7.3% 2.8% 1.4% 0.9% 1.8% 24.3% 85.9% 44.3%3 2012 10.0% 6.7% 2.6% 1.4% 0.8% 1.8% 23.2% 79.6% 62.8%4 2013 10.0% 6.0% 2.3% 1.3% 0.7% 1.8% 22.2% 73.8% 79.2%5 2014 10.0% 5.4% 2.1% 1.2% 0.6% 1.8% 21.2% 68.4% 93.7%6 2015 10.0% 4.8% 1.9% 1.2% 0.5% 1.8% 20.2% 63.4% 106.5%7 2016 10.0% 4.2% 1.6% 1.1% 0.4% 1.8% 19.2% 58.7% 117.7%8 2017 10.0% 3.6% 1.4% 1.0% 0.3% 1.8% 18.1% 54.4% 127.6%9 2018 10.0% 2.9% 1.2% 1.0% 0.2% 1.8% 17.1% 50.4% 136.2%
10 2019 10.0% 2.3% 0.9% 0.9% 1.8% -3.8% 12.2% 46.8% 141.9%11 2020 -0.3% -0.3% 43.3% 141.8%12 2021 -0.3% -0.3% 40.2% 141.7%13 2022 -0.3% -0.3% 37.2% 141.5%14 2023 -0.3% -0.3% 34.5% 141.4%15 2024 -0.3% -0.3% 32.0% 141.3%16 2025 -0.3% -0.3% 29.6% 141.2%17 2026 -0.3% -0.3% 27.5% 141.1%18 2027 -0.3% -0.3% 25.4% 141.1%19 2028 -0.3% -0.3% 23.6% 141.0%20 2029 -0.3% -0.3% 21.9% 140.9%21 2030 -0.3% -0.3% 20.3% 140.9%22 2031 -0.3% -0.3% 18.8% 140.8%23 2032 -0.3% -0.3% 17.4% 140.7%24 2033 -0.3% -0.3% 16.1% 140.7%25 2034 -0.3% -0.3% 14.9% 140.6%26 2035 -0.3% -0.3% 13.8% 140.6%27 2036 -0.3% -0.3% 12.8% 140.6%28 2037 -0.3% -0.3% 11.9% 140.5%29 2038 -0.3% -0.3% 11.0% 140.5%30 2039 -0.3% -0.3% 10.2% 140.5%31 2040 -0.3% -0.3% 9.5% 140.4%32 2041 -0.3% -0.3% 8.8% 140.4%33 2042 -0.3% -0.3% 8.1% 140.4%34 2043 -0.3% -0.3% 7.5% 140.3%35 2044 -0.3% -0.3% 7.0% 140.3%36 2045 -0.3% -0.3% 6.5% 140.3%37 2046 -0.3% -0.3% 6.0% 140.3%38 2047 -0.3% -0.3% 5.6% 140.3%39 2048 -0.3% -0.3% 5.2% 140.2%40 2049 -0.3% -0.3% 4.8% 140.2%41 2050 -0.3% -0.3% 4.4% 140.2%42 2051 -0.3% -0.3% 4.1% 140.2%43 2052 -0.3% -0.3% 3.8% 140.2%44 2053 -0.3% -0.3% 3.5% 140.2%45 2054 -0.3% -0.3% 3.3% 140.2%46 2055 -0.3% -0.3% 3.0% 140.2%47 2056 -0.3% -0.3% 2.8% 140.2%48 2057 -0.3% -0.3% 2.6% 140.1%49 2058 -0.3% -0.3% 2.4% 140.1%50 2059 -0.3% -0.3% 2.2% 140.1%51 2060 -0.3% -0.3% 2.1% 140.1%52 2061 -0.3% -0.3% 1.9% 140.1%53 2062 -0.3% -0.3% 1.8% 140.1%
352
152
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
54 2063 -0.3% -0.3% 1.6% 140.1%55 2064 -0.3% -0.3% 1.5% 140.1%56 2065 -0.3% -0.3% 1.4% 140.1%57 2066 -0.3% -0.3% 1.3% 140.1%58 2067 -0.3% -0.3% 1.2% 140.1%59 2068 -0.3% -0.3% 1.1% 140.1%60 2069 -0.3% -0.3% 1.0% 140.1%61 2070 -0.3% -0.3% 1.0% 140.1%62 2071 -0.3% -0.3% 0.9% 140.1%63 2072 -0.3% -0.3% 0.8% 140.1%64 2073 -0.3% -0.3% 0.8% 140.1%65 2074 -0.3% -0.3% 0.7% 140.1%66 2075 -0.3% -0.3% 0.7% 140.1%67 2076 -0.3% -0.3% 0.6% 140.1%68 2077 -0.3% -0.3% 0.6% 140.1%69 2078 -0.3% -0.3% 0.5% 140.1%70 2079 -0.3% -0.3% 0.5% 140.1%71 2080 -0.3% -0.3% 0.5% 140.1%72 2081 -0.3% -0.3% 0.4% 140.1%73 2082 -0.3% -0.3% 0.4% 140.1%74 2083 -0.3% -0.3% 0.4% 140.1%75 2084 -0.3% -0.3% 0.3% 140.1%76 2085 -0.3% -0.3% 0.3% 140.1%77 2086 -0.3% -0.3% 0.3% 140.1%78 2087 -0.3% -0.3% 0.3% 140.1%79 2088 -0.3% -0.3% 0.2% 140.0%80 2089 0.2% 140.0%81 2090 0.2% 140.0%
PV 67.4% 37.1% 14.4% 6.4% 4.2% 12.3% -1.8% 140.0%Levelized 10.00% 5.50% 2.14% 0.95% 0.62% 1.83% -0.26% 20.78%
153
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
ATTACHMENT
368 Line Transformers
COMPONENTS:
Present Valu Levelizedo Book Depreciation 67.40% 10.00%o Return 37.06% 5.50%o Federal Tax 14.42% 2.14%o State Tax 6.42% 0.95%o Property Tax 4.18% 0.62%o A&G, Insurance 12.34% 1.83%o Tax Adjustment for Salvage -1.77% -0.26%
Total 140.0% 20.8%
ASSUMPTIONS:
o In-service: 2016o Book Life or Economic Life: 10 Yearso Book Salvage: 0.00%
o Calculation of Rate Base & Tax Base: in dollars
Year 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TOTAL Cash Flow: 100.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 100.0 Rate Base: 104.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 104.0 Tax Base : 102.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 102.7
o Tax Base as % of Rate Base: 98.8% (for Fed. & St. Tax Depr, and Book-Tax Depr)
Income Tax Rate
o Federal Tax: 150% DB 20 Yrs 35.0%o State Tax: 200% DB 30 Yrs 8.84%
Tax Rate In: 2016
o Property Tax Expense: Based on 1.280% of Assessed Value (Assessed Value= 0.8012 X HCLD)HCLD: Historical Cost Less Depreciation
o Overhead Expense: -- A&G 1.44%-- Insuranc 0.39%
Total 1.83%
o Authorized Rate of Return: Capital Weighted Ratio Cost Cost
-- Debt 43.00% 5.49% 2.36%-- Preferred 9.00% 5.79% 0.52%-- Common Equity 48.00% 10.45% 5.02%
Total 100.00% 7.90%
o Discount Rate: 7.90%
Notes: (1) Present Value is discounted to 2015 (2) Present Value and Levelized Carrying Charge should only be applied to capital outlays associated with regulated utility assets (3) Present Value and Levelized Carrying Charge should be applied to Total Rate Base including capitalized money costs incurred during construction period
CARRYING CHARGE COMPONENTS & ASSUMPTIONS
Tax Depreciation
154
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
Account 368 Line Transformers
Book Total Federal State Property A&G & Tax Adusted Discount Cum PV @Year Depreciation Return Income Taxes Income Taxes Tax Insurance for Salvage Total Factor 7.9%
1 2010 10.0% 7.9% 3.0% 1.5% 1.0% 1.8% 25.3% 92.7% 23.4%2 2011 10.0% 7.3% 2.8% 1.4% 0.9% 1.8% 24.3% 85.9% 44.3%3 2012 10.0% 6.7% 2.6% 1.4% 0.8% 1.8% 23.2% 79.6% 62.8%4 2013 10.0% 6.0% 2.3% 1.3% 0.7% 1.8% 22.2% 73.8% 79.2%5 2014 10.0% 5.4% 2.1% 1.2% 0.6% 1.8% 21.2% 68.4% 93.7%6 2015 10.0% 4.8% 1.9% 1.2% 0.5% 1.8% 20.2% 63.4% 106.5%7 2016 10.0% 4.2% 1.6% 1.1% 0.4% 1.8% 19.2% 58.7% 117.7%8 2017 10.0% 3.6% 1.4% 1.0% 0.3% 1.8% 18.1% 54.4% 127.6%9 2018 10.0% 2.9% 1.2% 1.0% 0.2% 1.8% 17.1% 50.4% 136.2%
10 2019 10.0% 2.3% 0.9% 0.9% 1.8% -3.8% 12.2% 46.8% 141.9%11 2020 -0.3% -0.3% 43.3% 141.8%12 2021 -0.3% -0.3% 40.2% 141.7%13 2022 -0.3% -0.3% 37.2% 141.5%14 2023 -0.3% -0.3% 34.5% 141.4%15 2024 -0.3% -0.3% 32.0% 141.3%16 2025 -0.3% -0.3% 29.6% 141.2%17 2026 -0.3% -0.3% 27.5% 141.1%18 2027 -0.3% -0.3% 25.4% 141.1%19 2028 -0.3% -0.3% 23.6% 141.0%20 2029 -0.3% -0.3% 21.9% 140.9%21 2030 -0.3% -0.3% 20.3% 140.9%22 2031 -0.3% -0.3% 18.8% 140.8%23 2032 -0.3% -0.3% 17.4% 140.7%24 2033 -0.3% -0.3% 16.1% 140.7%25 2034 -0.3% -0.3% 14.9% 140.6%26 2035 -0.3% -0.3% 13.8% 140.6%27 2036 -0.3% -0.3% 12.8% 140.6%28 2037 -0.3% -0.3% 11.9% 140.5%29 2038 -0.3% -0.3% 11.0% 140.5%30 2039 -0.3% -0.3% 10.2% 140.5%31 2040 -0.3% -0.3% 9.5% 140.4%32 2041 -0.3% -0.3% 8.8% 140.4%33 2042 -0.3% -0.3% 8.1% 140.4%34 2043 -0.3% -0.3% 7.5% 140.3%35 2044 -0.3% -0.3% 7.0% 140.3%36 2045 -0.3% -0.3% 6.5% 140.3%37 2046 -0.3% -0.3% 6.0% 140.3%38 2047 -0.3% -0.3% 5.6% 140.3%39 2048 -0.3% -0.3% 5.2% 140.2%40 2049 -0.3% -0.3% 4.8% 140.2%41 2050 -0.3% -0.3% 4.4% 140.2%42 2051 -0.3% -0.3% 4.1% 140.2%43 2052 -0.3% -0.3% 3.8% 140.2%44 2053 -0.3% -0.3% 3.5% 140.2%45 2054 -0.3% -0.3% 3.3% 140.2%46 2055 -0.3% -0.3% 3.0% 140.2%47 2056 -0.3% -0.3% 2.8% 140.2%48 2057 -0.3% -0.3% 2.6% 140.1%49 2058 -0.3% -0.3% 2.4% 140.1%50 2059 -0.3% -0.3% 2.2% 140.1%51 2060 -0.3% -0.3% 2.1% 140.1%52 2061 -0.3% -0.3% 1.9% 140.1%53 2062 -0.3% -0.3% 1.8% 140.1%
352
155
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
54 2063 -0.3% -0.3% 1.6% 140.1%55 2064 -0.3% -0.3% 1.5% 140.1%56 2065 -0.3% -0.3% 1.4% 140.1%57 2066 -0.3% -0.3% 1.3% 140.1%58 2067 -0.3% -0.3% 1.2% 140.1%59 2068 -0.3% -0.3% 1.1% 140.1%60 2069 -0.3% -0.3% 1.0% 140.1%61 2070 -0.3% -0.3% 1.0% 140.1%62 2071 -0.3% -0.3% 0.9% 140.1%63 2072 -0.3% -0.3% 0.8% 140.1%64 2073 -0.3% -0.3% 0.8% 140.1%65 2074 -0.3% -0.3% 0.7% 140.1%66 2075 -0.3% -0.3% 0.7% 140.1%67 2076 -0.3% -0.3% 0.6% 140.1%68 2077 -0.3% -0.3% 0.6% 140.1%69 2078 -0.3% -0.3% 0.5% 140.1%70 2079 -0.3% -0.3% 0.5% 140.1%71 2080 -0.3% -0.3% 0.5% 140.1%72 2081 -0.3% -0.3% 0.4% 140.1%73 2082 -0.3% -0.3% 0.4% 140.1%74 2083 -0.3% -0.3% 0.4% 140.1%75 2084 -0.3% -0.3% 0.3% 140.1%76 2085 -0.3% -0.3% 0.3% 140.1%77 2086 -0.3% -0.3% 0.3% 140.1%78 2087 -0.3% -0.3% 0.3% 140.1%79 2088 -0.3% -0.3% 0.2% 140.0%80 2089 0.2% 140.0%81 2090 0.2% 140.0%
PV 67.4% 37.1% 14.4% 6.4% 4.2% 12.3% -1.8% 140.0%Levelized 10.00% 5.50% 2.14% 0.95% 0.62% 1.83% -0.26% 20.78%
156
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
ATTACHMENT
369 Services
COMPONENTS:
Present Valu Levelizedo Book Depreciation 67.40% 10.00%o Return 37.06% 5.50%o Federal Tax 14.42% 2.14%o State Tax 6.42% 0.95%o Property Tax 4.18% 0.62%o A&G, Insurance 12.34% 1.83%o Tax Adjustment for Salvage -1.77% -0.26%
Total 140.0% 20.8%
ASSUMPTIONS:
o In-service: 2016o Book Life or Economic Life: 10 Yearso Book Salvage: 0.00%
o Calculation of Rate Base & Tax Base: in dollars
Year 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TOTAL Cash Flow: 100.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 100.0 Rate Base: 104.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 104.0 Tax Base : 102.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 102.7
o Tax Base as % of Rate Base: 98.8% (for Fed. & St. Tax Depr, and Book-Tax Depr)
Income Tax Rate
o Federal Tax: 150% DB 20 Yrs 35.0%o State Tax: 200% DB 30 Yrs 8.84%
Tax Rate In: 2016
o Property Tax Expense: Based on 1.280% of Assessed Value (Assessed Value= 0.8012 X HCLD)HCLD: Historical Cost Less Depreciation
o Overhead Expense: -- A&G 1.44%-- Insuranc 0.39%
Total 1.83%
o Authorized Rate of Return: Capital Weighted Ratio Cost Cost
-- Debt 43.00% 5.49% 2.36%-- Preferred 9.00% 5.79% 0.52%-- Common Equity 48.00% 10.45% 5.02%
Total 100.00% 7.90%
o Discount Rate: 7.90%
Notes: (1) Present Value is discounted to 2015 (2) Present Value and Levelized Carrying Charge should only be applied to capital outlays associated with regulated utility assets (3) Present Value and Levelized Carrying Charge should be applied to Total Rate Base including capitalized money costs incurred during construction period
CARRYING CHARGE COMPONENTS & ASSUMPTIONS
Tax Depreciation
157
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
Account 369 Services
Book Total Federal State Property A&G & Tax Adusted Discount Cum PV @Year Depreciation Return Income Taxes Income Taxes Tax Insurance for Salvage Total Factor 7.9%
1 2010 10.0% 7.9% 3.0% 1.5% 1.0% 1.8% 25.3% 92.7% 23.4%2 2011 10.0% 7.3% 2.8% 1.4% 0.9% 1.8% 24.3% 85.9% 44.3%3 2012 10.0% 6.7% 2.6% 1.4% 0.8% 1.8% 23.2% 79.6% 62.8%4 2013 10.0% 6.0% 2.3% 1.3% 0.7% 1.8% 22.2% 73.8% 79.2%5 2014 10.0% 5.4% 2.1% 1.2% 0.6% 1.8% 21.2% 68.4% 93.7%6 2015 10.0% 4.8% 1.9% 1.2% 0.5% 1.8% 20.2% 63.4% 106.5%7 2016 10.0% 4.2% 1.6% 1.1% 0.4% 1.8% 19.2% 58.7% 117.7%8 2017 10.0% 3.6% 1.4% 1.0% 0.3% 1.8% 18.1% 54.4% 127.6%9 2018 10.0% 2.9% 1.2% 1.0% 0.2% 1.8% 17.1% 50.4% 136.2%
10 2019 10.0% 2.3% 0.9% 0.9% 1.8% -3.8% 12.2% 46.8% 141.9%11 2020 -0.3% -0.3% 43.3% 141.8%12 2021 -0.3% -0.3% 40.2% 141.7%13 2022 -0.3% -0.3% 37.2% 141.5%14 2023 -0.3% -0.3% 34.5% 141.4%15 2024 -0.3% -0.3% 32.0% 141.3%16 2025 -0.3% -0.3% 29.6% 141.2%17 2026 -0.3% -0.3% 27.5% 141.1%18 2027 -0.3% -0.3% 25.4% 141.1%19 2028 -0.3% -0.3% 23.6% 141.0%20 2029 -0.3% -0.3% 21.9% 140.9%21 2030 -0.3% -0.3% 20.3% 140.9%22 2031 -0.3% -0.3% 18.8% 140.8%23 2032 -0.3% -0.3% 17.4% 140.7%24 2033 -0.3% -0.3% 16.1% 140.7%25 2034 -0.3% -0.3% 14.9% 140.6%26 2035 -0.3% -0.3% 13.8% 140.6%27 2036 -0.3% -0.3% 12.8% 140.6%28 2037 -0.3% -0.3% 11.9% 140.5%29 2038 -0.3% -0.3% 11.0% 140.5%30 2039 -0.3% -0.3% 10.2% 140.5%31 2040 -0.3% -0.3% 9.5% 140.4%32 2041 -0.3% -0.3% 8.8% 140.4%33 2042 -0.3% -0.3% 8.1% 140.4%34 2043 -0.3% -0.3% 7.5% 140.3%35 2044 -0.3% -0.3% 7.0% 140.3%36 2045 -0.3% -0.3% 6.5% 140.3%37 2046 -0.3% -0.3% 6.0% 140.3%38 2047 -0.3% -0.3% 5.6% 140.3%39 2048 -0.3% -0.3% 5.2% 140.2%40 2049 -0.3% -0.3% 4.8% 140.2%41 2050 -0.3% -0.3% 4.4% 140.2%42 2051 -0.3% -0.3% 4.1% 140.2%43 2052 -0.3% -0.3% 3.8% 140.2%44 2053 -0.3% -0.3% 3.5% 140.2%45 2054 -0.3% -0.3% 3.3% 140.2%46 2055 -0.3% -0.3% 3.0% 140.2%47 2056 -0.3% -0.3% 2.8% 140.2%48 2057 -0.3% -0.3% 2.6% 140.1%49 2058 -0.3% -0.3% 2.4% 140.1%50 2059 -0.3% -0.3% 2.2% 140.1%51 2060 -0.3% -0.3% 2.1% 140.1%52 2061 -0.3% -0.3% 1.9% 140.1%53 2062 -0.3% -0.3% 1.8% 140.1%
352
158
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
54 2063 -0.3% -0.3% 1.6% 140.1%55 2064 -0.3% -0.3% 1.5% 140.1%56 2065 -0.3% -0.3% 1.4% 140.1%57 2066 -0.3% -0.3% 1.3% 140.1%58 2067 -0.3% -0.3% 1.2% 140.1%59 2068 -0.3% -0.3% 1.1% 140.1%60 2069 -0.3% -0.3% 1.0% 140.1%61 2070 -0.3% -0.3% 1.0% 140.1%62 2071 -0.3% -0.3% 0.9% 140.1%63 2072 -0.3% -0.3% 0.8% 140.1%64 2073 -0.3% -0.3% 0.8% 140.1%65 2074 -0.3% -0.3% 0.7% 140.1%66 2075 -0.3% -0.3% 0.7% 140.1%67 2076 -0.3% -0.3% 0.6% 140.1%68 2077 -0.3% -0.3% 0.6% 140.1%69 2078 -0.3% -0.3% 0.5% 140.1%70 2079 -0.3% -0.3% 0.5% 140.1%71 2080 -0.3% -0.3% 0.5% 140.1%72 2081 -0.3% -0.3% 0.4% 140.1%73 2082 -0.3% -0.3% 0.4% 140.1%74 2083 -0.3% -0.3% 0.4% 140.1%75 2084 -0.3% -0.3% 0.3% 140.1%76 2085 -0.3% -0.3% 0.3% 140.1%77 2086 -0.3% -0.3% 0.3% 140.1%78 2087 -0.3% -0.3% 0.3% 140.1%79 2088 -0.3% -0.3% 0.2% 140.0%80 2089 0.2% 140.0%81 2090 0.2% 140.0%
PV 67.4% 37.1% 14.4% 6.4% 4.2% 12.3% -1.8% 140.0%Levelized 10.00% 5.50% 2.14% 0.95% 0.62% 1.83% -0.26% 20.78%
159
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
ATTACHMENT
370 Meters
COMPONENTS:
Present Valu Levelizedo Book Depreciation 67.40% 10.00%o Return 37.06% 5.50%o Federal Tax 14.42% 2.14%o State Tax 6.42% 0.95%o Property Tax 4.18% 0.62%o A&G, Insurance 12.34% 1.83%o Tax Adjustment for Salvage -1.77% -0.26%
Total 140.0% 20.8%
ASSUMPTIONS:
o In-service: 2016o Book Life or Economic Life: 10 Yearso Book Salvage: 0.00%
o Calculation of Rate Base & Tax Base: in dollars
Year 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TOTAL Cash Flow: 100.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 100.0 Rate Base: 104.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 104.0 Tax Base : 102.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 102.7
o Tax Base as % of Rate Base: 98.8% (for Fed. & St. Tax Depr, and Book-Tax Depr)
Income Tax Rate
o Federal Tax: 150% DB 20 Yrs 35.0%o State Tax: 200% DB 30 Yrs 8.84%
Tax Rate In: 2016
o Property Tax Expense: Based on 1.280% of Assessed Value (Assessed Value= 0.8012 X HCLD)HCLD: Historical Cost Less Depreciation
o Overhead Expense: -- A&G 1.44%-- Insuranc 0.39%
Total 1.83%
o Authorized Rate of Return: Capital Weighted Ratio Cost Cost
-- Debt 43.00% 5.49% 2.36%-- Preferred 9.00% 5.79% 0.52%-- Common Equity 48.00% 10.45% 5.02%
Total 100.00% 7.90%
o Discount Rate: 7.90%
Notes: (1) Present Value is discounted to 2015 (2) Present Value and Levelized Carrying Charge should only be applied to capital outlays associated with regulated utility assets (3) Present Value and Levelized Carrying Charge should be applied to Total Rate Base including capitalized money costs incurred during construction period
CARRYING CHARGE COMPONENTS & ASSUMPTIONS
Tax Depreciation
160
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
Account 370 Meters
Book Total Federal State Property A&G & Tax Adusted Discount Cum PV @Year Depreciation Return Income Taxes Income Taxes Tax Insurance for Salvage Total Factor 7.9%
1 2010 10.0% 7.9% 3.0% 1.5% 1.0% 1.8% 25.3% 92.7% 23.4%2 2011 10.0% 7.3% 2.8% 1.4% 0.9% 1.8% 24.3% 85.9% 44.3%3 2012 10.0% 6.7% 2.6% 1.4% 0.8% 1.8% 23.2% 79.6% 62.8%4 2013 10.0% 6.0% 2.3% 1.3% 0.7% 1.8% 22.2% 73.8% 79.2%5 2014 10.0% 5.4% 2.1% 1.2% 0.6% 1.8% 21.2% 68.4% 93.7%6 2015 10.0% 4.8% 1.9% 1.2% 0.5% 1.8% 20.2% 63.4% 106.5%7 2016 10.0% 4.2% 1.6% 1.1% 0.4% 1.8% 19.2% 58.7% 117.7%8 2017 10.0% 3.6% 1.4% 1.0% 0.3% 1.8% 18.1% 54.4% 127.6%9 2018 10.0% 2.9% 1.2% 1.0% 0.2% 1.8% 17.1% 50.4% 136.2%
10 2019 10.0% 2.3% 0.9% 0.9% 1.8% -3.8% 12.2% 46.8% 141.9%11 2020 -0.3% -0.3% 43.3% 141.8%12 2021 -0.3% -0.3% 40.2% 141.7%13 2022 -0.3% -0.3% 37.2% 141.5%14 2023 -0.3% -0.3% 34.5% 141.4%15 2024 -0.3% -0.3% 32.0% 141.3%16 2025 -0.3% -0.3% 29.6% 141.2%17 2026 -0.3% -0.3% 27.5% 141.1%18 2027 -0.3% -0.3% 25.4% 141.1%19 2028 -0.3% -0.3% 23.6% 141.0%20 2029 -0.3% -0.3% 21.9% 140.9%21 2030 -0.3% -0.3% 20.3% 140.9%22 2031 -0.3% -0.3% 18.8% 140.8%23 2032 -0.3% -0.3% 17.4% 140.7%24 2033 -0.3% -0.3% 16.1% 140.7%25 2034 -0.3% -0.3% 14.9% 140.6%26 2035 -0.3% -0.3% 13.8% 140.6%27 2036 -0.3% -0.3% 12.8% 140.6%28 2037 -0.3% -0.3% 11.9% 140.5%29 2038 -0.3% -0.3% 11.0% 140.5%30 2039 -0.3% -0.3% 10.2% 140.5%31 2040 -0.3% -0.3% 9.5% 140.4%32 2041 -0.3% -0.3% 8.8% 140.4%33 2042 -0.3% -0.3% 8.1% 140.4%34 2043 -0.3% -0.3% 7.5% 140.3%35 2044 -0.3% -0.3% 7.0% 140.3%36 2045 -0.3% -0.3% 6.5% 140.3%37 2046 -0.3% -0.3% 6.0% 140.3%38 2047 -0.3% -0.3% 5.6% 140.3%39 2048 -0.3% -0.3% 5.2% 140.2%40 2049 -0.3% -0.3% 4.8% 140.2%41 2050 -0.3% -0.3% 4.4% 140.2%42 2051 -0.3% -0.3% 4.1% 140.2%43 2052 -0.3% -0.3% 3.8% 140.2%44 2053 -0.3% -0.3% 3.5% 140.2%45 2054 -0.3% -0.3% 3.3% 140.2%46 2055 -0.3% -0.3% 3.0% 140.2%47 2056 -0.3% -0.3% 2.8% 140.2%48 2057 -0.3% -0.3% 2.6% 140.1%49 2058 -0.3% -0.3% 2.4% 140.1%50 2059 -0.3% -0.3% 2.2% 140.1%51 2060 -0.3% -0.3% 2.1% 140.1%52 2061 -0.3% -0.3% 1.9% 140.1%53 2062 -0.3% -0.3% 1.8% 140.1%
352
161
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
54 2063 -0.3% -0.3% 1.6% 140.1%55 2064 -0.3% -0.3% 1.5% 140.1%56 2065 -0.3% -0.3% 1.4% 140.1%57 2066 -0.3% -0.3% 1.3% 140.1%58 2067 -0.3% -0.3% 1.2% 140.1%59 2068 -0.3% -0.3% 1.1% 140.1%60 2069 -0.3% -0.3% 1.0% 140.1%61 2070 -0.3% -0.3% 1.0% 140.1%62 2071 -0.3% -0.3% 0.9% 140.1%63 2072 -0.3% -0.3% 0.8% 140.1%64 2073 -0.3% -0.3% 0.8% 140.1%65 2074 -0.3% -0.3% 0.7% 140.1%66 2075 -0.3% -0.3% 0.7% 140.1%67 2076 -0.3% -0.3% 0.6% 140.1%68 2077 -0.3% -0.3% 0.6% 140.1%69 2078 -0.3% -0.3% 0.5% 140.1%70 2079 -0.3% -0.3% 0.5% 140.1%71 2080 -0.3% -0.3% 0.5% 140.1%72 2081 -0.3% -0.3% 0.4% 140.1%73 2082 -0.3% -0.3% 0.4% 140.1%74 2083 -0.3% -0.3% 0.4% 140.1%75 2084 -0.3% -0.3% 0.3% 140.1%76 2085 -0.3% -0.3% 0.3% 140.1%77 2086 -0.3% -0.3% 0.3% 140.1%78 2087 -0.3% -0.3% 0.3% 140.1%79 2088 -0.3% -0.3% 0.2% 140.0%80 2089 0.2% 140.0%81 2090 0.2% 140.0%
PV 67.4% 37.1% 14.4% 6.4% 4.2% 12.3% -1.8% 140.0%Levelized 10.00% 5.50% 2.14% 0.95% 0.62% 1.83% -0.26% 20.78%
162
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
ATTACHMENT
373 Street Lamps
COMPONENTS:
Present Valu Levelizedo Book Depreciation 67.40% 10.00%o Return 29.53% 4.38%o Federal Tax 11.57% 1.72%o State Tax -3.78% -0.56%o Property Tax 4.18% 0.62%o A&G, Insurance 12.34% 1.83%o Tax Adjustment for Salvage 0.29% 0.04%
Total 121.5% 18.0%
ASSUMPTIONS:
o In-service: 2016o Book Life or Economic Life: 10 Yearso Book Salvage: 0.00%
o Calculation of Rate Base & Tax Base: in dollars
Year 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TOTAL Cash Flow: 100.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 100.0 Rate Base: 104.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 104.0 Tax Base : 102.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 102.7
o Tax Base as % of Rate Base: 98.8% (for Fed. & St. Tax Depr, and Book-Tax Depr)
Income Tax Rate
o Federal Tax: 200% DDB 7 Yrs 35.0%o State Tax: 200% DDB 9 Yrs 8.84%
Tax Rate In: 2016
o Property Tax Expense: Based on 1.280% of Assessed Value (Assessed Value= 0.8012 X HCLD)HCLD: Historical Cost Less Depreciation
o Overhead Expense: -- A&G 1.44%-- Insuranc 0.39%
Total 1.83%
o Authorized Rate of Return: Capital Weighted Ratio Cost Cost
-- Debt 43.00% 5.49% 2.36%-- Preferred 9.00% 5.79% 0.52%-- Common Equity 48.00% 10.45% 5.02%
Total 100.00% 7.90%
o Discount Rate: 7.90%
Notes: (1) Present Value is discounted to 2015 (2) Present Value and Levelized Carrying Charge should only be applied to capital outlays associated with regulated utility assets (3) Present Value and Levelized Carrying Charge should be applied to Total Rate Base including capitalized money costs incurred during construction period
CARRYING CHARGE COMPONENTS & ASSUMPTIONS
Tax Depreciation
163
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
Account 373 Street Lamps
Book Total Federal State Property A&G & Tax Adusted Discount Cum PV @Year Depreciation Return Income Taxes Income Taxes Tax Insurance for Salvage Total Factor 7.9%
1 2010 10.0% 7.9% 3.0% 0.7% 1.0% 1.8% 24.5% 92.7% 22.7%2 2011 10.0% 7.0% 2.7% 0.6% 0.9% 1.8% 23.1% 85.9% 42.6%3 2012 10.0% 6.1% 2.4% 0.5% 0.8% 1.8% 21.6% 79.6% 59.8%4 2013 10.0% 5.2% 2.0% 0.5% 0.7% 1.8% 20.2% 73.8% 74.7%5 2014 10.0% 4.3% 1.7% 0.4% 0.6% 1.8% 18.7% 68.4% 87.5%6 2015 10.0% 3.4% 1.3% 0.3% 0.5% 1.8% 17.3% 63.4% 98.5%7 2016 10.0% 2.5% 1.0% 0.2% 0.4% 1.8% 15.9% 58.7% 107.8%8 2017 10.0% 1.5% 0.6% 0.1% 0.3% 1.8% 14.4% 54.4% 115.6%9 2018 10.0% 0.6% 0.3% 0.0% 0.2% 1.8% 13.0% 50.4% 122.2%
10 2019 10.0% -0.3% 0.0% -0.1% 1.8% 0.6% 12.0% 46.8% 127.8%11 2020 -1.1% -1.1% 43.3% 127.3%12 2021 -1.1% -1.1% 40.2% 126.9%13 2022 -1.1% -1.1% 37.2% 126.5%14 2023 -1.1% -1.1% 34.5% 126.2%15 2024 -1.1% -1.1% 32.0% 125.8%16 2025 -1.1% -1.1% 29.6% 125.5%17 2026 -1.1% -1.1% 27.5% 125.2%18 2027 -1.1% -1.1% 25.4% 124.9%19 2028 -1.1% -1.1% 23.6% 124.7%20 2029 -1.1% -1.1% 21.9% 124.5%21 2030 -1.1% -1.1% 20.3% 124.2%22 2031 -1.1% -1.1% 18.8% 124.0%23 2032 -1.1% -1.1% 17.4% 123.9%24 2033 -1.1% -1.1% 16.1% 123.7%25 2034 -1.1% -1.1% 14.9% 123.5%26 2035 -1.1% -1.1% 13.8% 123.4%27 2036 -1.1% -1.1% 12.8% 123.2%28 2037 -1.1% -1.1% 11.9% 123.1%29 2038 -1.1% -1.1% 11.0% 123.0%30 2039 -1.1% -1.1% 10.2% 122.9%31 2040 -1.1% -1.1% 9.5% 122.8%32 2041 -1.1% -1.1% 8.8% 122.7%33 2042 -1.1% -1.1% 8.1% 122.6%34 2043 -1.1% -1.1% 7.5% 122.5%35 2044 -1.1% -1.1% 7.0% 122.4%36 2045 -1.1% -1.1% 6.5% 122.4%37 2046 -1.1% -1.1% 6.0% 122.3%38 2047 -1.1% -1.1% 5.6% 122.3%39 2048 -1.1% -1.1% 5.2% 122.2%40 2049 -1.1% -1.1% 4.8% 122.1%41 2050 -1.1% -1.1% 4.4% 122.1%42 2051 -1.1% -1.1% 4.1% 122.1%43 2052 -1.1% -1.1% 3.8% 122.0%44 2053 -1.1% -1.1% 3.5% 122.0%45 2054 -1.1% -1.1% 3.3% 121.9%46 2055 -1.1% -1.1% 3.0% 121.9%47 2056 -1.1% -1.1% 2.8% 121.9%48 2057 -1.1% -1.1% 2.6% 121.9%49 2058 -1.1% -1.1% 2.4% 121.8%50 2059 -1.1% -1.1% 2.2% 121.8%51 2060 -1.1% -1.1% 2.1% 121.8%52 2061 -1.1% -1.1% 1.9% 121.8%53 2062 -1.1% -1.1% 1.8% 121.7%
352
164
Workpaper – Southern California Edison / 2018 GRC
Exhibit No. SCE-09 / Vol. 01 / Chapter VIII Witness: D. Snow
54 2063 -1.1% -1.1% 1.6% 121.7%55 2064 -1.1% -1.1% 1.5% 121.7%56 2065 -1.1% -1.1% 1.4% 121.7%57 2066 -1.1% -1.1% 1.3% 121.7%58 2067 -1.1% -1.1% 1.2% 121.7%59 2068 -1.1% -1.1% 1.1% 121.7%60 2069 -1.1% -1.1% 1.0% 121.6%61 2070 -1.1% -1.1% 1.0% 121.6%62 2071 -1.1% -1.1% 0.9% 121.6%63 2072 -1.1% -1.1% 0.8% 121.6%64 2073 -1.1% -1.1% 0.8% 121.6%65 2074 -1.1% -1.1% 0.7% 121.6%66 2075 -1.1% -1.1% 0.7% 121.6%67 2076 -1.1% -1.1% 0.6% 121.6%68 2077 -1.1% -1.1% 0.6% 121.6%69 2078 -1.1% -1.1% 0.5% 121.6%70 2079 -1.1% -1.1% 0.5% 121.6%71 2080 -1.1% -1.1% 0.5% 121.6%72 2081 -1.1% -1.1% 0.4% 121.6%73 2082 -1.1% -1.1% 0.4% 121.6%74 2083 -1.1% -1.1% 0.4% 121.6%75 2084 -1.1% -1.1% 0.3% 121.6%76 2085 -1.1% -1.1% 0.3% 121.5%77 2086 -1.1% -1.1% 0.3% 121.5%78 2087 -1.1% -1.1% 0.3% 121.5%79 2088 -1.1% -1.1% 0.2% 121.5%80 2089 0.2% 121.5%81 2090 0.2% 121.5%
PV 67.4% 29.5% 11.6% -3.8% 4.2% 12.3% 0.3% 121.5%Levelized 10.00% 4.38% 1.72% -0.56% 0.62% 1.83% 0.04% 18.03%
165