Pension Plans and Postretirement Benefits Other Than Pensions

6 Months Ended

Jun. 30, 2012

Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]

Pension Plans and Postretirement Benefits Other Than Pensions

Pension Plans and Postretirement Benefits Other Than Pensions

Pension Plans

As part of the pension funding provisions contained in the Surface Transportation Extension Act of 2012 passed by Congress in June 2012, Edison International's projected 2012 plan contributions have been reduced to $192 million from $286 million, pending a final interest rate to be issued by the IRS. Contributions of $73 million were made during the six months ended June 30, 2012. In July 2012, SCE made a further required $58 million contribution to the pension fund. Contributions to date for SCE exceed the $55 million currently being collected through customer rates. In the 2012 GRC, SCE requested recovery of plan contributions of $168 million with recovery of any undercollection through the continuation of the existing balancing account mechanism. This proposal has been challenged by intervenors and is pending the outcome of the 2012 GRC decision. Annual contributions to these plans are expected to be, at a minimum, equal to the related annual expense.

Expense components are:

	Three months ended June 30,						Six months ended June 30,
(in millions)	2012			2011			2012			2011
Service cost	$	43		$	43		$	86		$	86
Interest cost	49			52			98			104
Expected return on plan assets	(59		)	(60		)	(118		)	(120		)
Amortization of prior service cost	1			2			2			4
Amortization of net loss	18			6			36			12
Expense under accounting standards	52			43			104			86
Regulatory adjustment (deferred)	27			(6		)	54			(12		)
Total expense recognized	$	79		$	37		$	158		$	74

Postretirement Benefits Other Than Pensions

Edison International made contributions of $12 million during the six months ended June 30, 2012 and expects to make $53 million of additional contributions during the remainder of 2012. In 2012, annual contributions made to plans for SCE employees are expected to be recovered through CPUC-approved regulatory mechanisms. Annual contributions are expected to be, at a minimum, equal to the total annual expense for these plans. Benefits under these plans, with some exceptions, are generally unvested and subject to change.

Expense components are:

	Three months ended June 30,						Six months ended June 30,
(in millions)	2012			2011			2012			2011
Service cost	$	13		$	11		$	26		$	22
Interest cost	30			33			60			66
Expected return on plan assets	(27		)	(28		)	(54		)	(56		)
Amortization of prior service credit	(9		)	(9		)	(18		)	(18		)
Amortization of net loss	12			9			24			18
Total expense	$	19		$	16		$	38		$	32