XML 120 R115.htm IDEA: XBRL DOCUMENT v2.4.0.6
Schedule I - Condensed Financial Information of Parent (Details) (USD $)
Share data in Millions, except Per Share data, unless otherwise specified
3 Months Ended 12 Months Ended
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2011
Sep. 30, 2011
Jun. 30, 2011
Mar. 31, 2011
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Assets:                        
Cash and cash equivalents $ 170,000,000       $ 1,469,000,000       $ 170,000,000 $ 1,469,000,000 $ 1,389,000,000  
Other current assets 119,000,000       73,000,000       119,000,000 73,000,000    
Total current assets 2,672,000,000       4,484,000,000       2,672,000,000 4,484,000,000    
Investments in subsidiaries 2,000,000       2,000,000       2,000,000 2,000,000    
Other 704,000,000       486,000,000       704,000,000 486,000,000    
Total assets 44,394,000,000       48,039,000,000       44,394,000,000 48,039,000,000    
Liabilities and Shareholders' Equity:                        
Accounts payable 1,423,000,000       1,321,000,000       1,423,000,000 1,321,000,000    
Other current liabilities 990,000,000       794,000,000       990,000,000 794,000,000    
Total current liabilities 3,744,000,000       4,348,000,000       3,744,000,000 4,348,000,000    
Long-term debt 9,231,000,000       8,834,000,000       9,231,000,000 8,834,000,000    
Common stockholders' equity 11,191,000,000       11,086,000,000       11,191,000,000 11,086,000,000 11,494,000,000 11,006,000,000
Total liabilities and equity 44,394,000,000       48,039,000,000       44,394,000,000 48,039,000,000    
Condensed Statements of Income:                        
Operating revenue and other income 3,060,000,000 3,734,000,000 2,653,000,000 2,415,000,000 2,517,000,000 3,389,000,000 2,449,000,000 2,233,000,000 11,862,000,000 10,588,000,000 9,996,000,000  
Operating expenses and interest expense                 9,577,000,000 8,527,000,000 8,177,000,000  
Loss before equity in earnings of subsidiaries 765,000,000 714,000,000 420,000,000 389,000,000 440,000,000 755,000,000 434,000,000 433,000,000 2,285,000,000 2,061,000,000 1,819,000,000  
Equity in earnings (loss) of subsidiaries                 1,000,000 0 2,000,000  
Income tax expense (benefit)                 267,000,000 568,000,000 335,000,000  
Income (Loss) from Continuing Operations, Including Portion Attributable to Noncontrolling Interest 812,000,000 [1],[2] 382,000,000 [1],[2] 207,000,000 [1],[2] 196,000,000 [1],[2] 236,000,000 408,000,000 223,000,000 234,000,000 1,594,000,000 [1],[2] 1,100,000,000 1,144,000,000  
Income (loss) from discontinued operations, net of tax (1,326,000,000) [3] (167,000,000) [3] (109,000,000) [3] (84,000,000) [3] (1,060,000,000) 33,000,000 (32,000,000) (20,000,000) (1,686,000,000) [3] (1,078,000,000) 164,000,000  
Net income (loss)                 (92,000,000) 22,000,000 1,308,000,000  
Other comprehensive income (loss)                 52,000,000 (63,000,000) (113,000,000)  
Comprehensive income (loss)                 (131,000,000) (100,000,000) 1,143,000,000  
Weighted-average shares of common stock outstanding (in shares)                 326 326 326  
Basic earnings (loss) per share – continuing operations (in dollars per share) $ 2.42 $ 1.09 $ 0.57 $ 0.54 $ 0.68 $ 1.21 $ 0.64 $ 0.67 $ 4.61 $ 3.20 $ 3.34  
Basic earnings (loss) per share – discontinued operations (in dollars per share) $ (4.07) $ (0.51) $ (0.34) $ (0.26) $ (3.25) $ 0.10 $ (0.10) $ (0.06) $ (5.17) $ (3.31) $ 0.50  
Total (in dollars per share) $ (1.65) $ 0.58 $ 0.23 $ 0.28 $ (2.57) $ 1.31 $ 0.54 $ 0.61 $ (0.56) $ (0.11) $ 3.84  
Diluted earnings (loss) per share – continuing operations (in dollars per share) $ 2.39 $ 1.09 $ 0.55 $ 0.54 $ 0.66 $ 1.20 $ 0.64 $ 0.67 $ 4.55 $ 3.17 $ 3.32  
Diluted earnings (loss) per share – discontinued operations (in dollars per share) $ (4.03) $ (0.51) $ (0.33) $ (0.26) $ (3.22) $ 0.10 $ (0.10) $ (0.06) $ (5.11) $ (3.28) $ 0.50  
Total (in dollars per share) $ (1.64) $ 0.58 $ 0.22 $ 0.28 $ (2.56) $ 1.30 $ 0.54 $ 0.61 $ (0.56) $ (0.11) $ 3.82  
Condensed Statements of Cash Flows:                        
Net cash provided by operating activities                 3,334,000,000 3,906,000,000 3,477,000,000  
Cash flows from financing activities:                        
Long-term debt issued                 395,000,000 896,000,000 1,535,000,000  
Long-term debt issuance costs                 (4,000,000) (9,000,000) (19,000,000)  
Short-term debt financing, net                 (264,000,000) 410,000,000 (66,000,000)  
Settlements of stock-based compensation, net                 (68,000,000) (15,000,000) (13,000,000)  
Dividends paid                 (424,000,000) (417,000,000) (411,000,000)  
Net cash provided by financing activities                 650,000,000 1,107,000,000 1,053,000,000  
Net cash provided by investing activities:                 (5,283,000,000) (4,933,000,000) (4,814,000,000)  
Net increase in cash and cash equivalents                 (1,299,000,000) 80,000,000 (284,000,000)  
Cash and cash equivalents at beginning of year       1,469,000,000       1,389,000,000 1,469,000,000 1,389,000,000 1,673,000,000  
Cash and cash equivalents at end of year 170,000,000       1,469,000,000       170,000,000 1,469,000,000 1,389,000,000  
Debt and Credit Agreements                        
Short-term debt 175,000,000       429,000,000       175,000,000 429,000,000    
Consolidated debt to total capitalization, ratio 0.65               0.65      
Senior Notes Due 2017
                       
Debt and Credit Agreements                        
Interest rate on debt (as a percent) 3.75%               3.75%      
Senior notes 400,000,000               400,000,000      
Revolving credit facility maturing in May 2017
                       
Debt and Credit Agreements                        
Credit facility termination period     5 years                  
Commitment 1,250,000,000               1,250,000,000      
Outstanding borrowings 0               0      
Amount available 1,250,000,000               1,250,000,000      
Edison International
                       
Assets:                        
Cash and cash equivalents 64,000,000       28,000,000       64,000,000 28,000,000 21,000,000  
Other current assets 18,000,000       236,000,000       18,000,000 236,000,000    
Total current assets 82,000,000       264,000,000       82,000,000 264,000,000    
Investments in subsidiaries 9,903,000,000       10,511,000,000       9,903,000,000 10,511,000,000    
Deferred income tax 555,000,000       150,000,000       555,000,000 150,000,000    
Other 414,000,000       192,000,000       414,000,000 192,000,000    
Total assets 10,954,000,000       11,117,000,000       10,954,000,000 11,117,000,000    
Liabilities and Shareholders' Equity:                        
Accounts payable 105,000,000       4,000,000       105,000,000 4,000,000    
Other current liabilities 184,000,000       448,000,000       184,000,000 448,000,000    
Total current liabilities 289,000,000       452,000,000       289,000,000 452,000,000    
Long-term debt 400,000,000       400,000,000       400,000,000 400,000,000    
Other 833,000,000       210,000,000       833,000,000 210,000,000    
Common stockholders' equity 9,432,000,000       10,055,000,000       9,432,000,000 10,055,000,000    
Total liabilities and equity 10,954,000,000       11,117,000,000       10,954,000,000 11,117,000,000    
Condensed Statements of Income:                        
Operating revenue and other income                 0 0 0  
Operating expenses and interest expense                 80,000,000 63,000,000 56,000,000  
Loss before equity in earnings of subsidiaries                 (80,000,000) (63,000,000) (56,000,000)  
Equity in earnings (loss) of subsidiaries                 1,590,000,000 1,077,000,000 1,098,000,000  
Income before income taxes                 1,510,000,000 1,014,000,000 1,042,000,000  
Income tax expense (benefit)                 7,000,000 (27,000,000) (50,000,000)  
Income (Loss) from Continuing Operations, Including Portion Attributable to Noncontrolling Interest                 1,503,000,000 1,041,000,000 1,092,000,000  
Income (loss) from discontinued operations, net of tax                 (1,686,000,000) (1,078,000,000) 164,000,000  
Net income (loss)                 (183,000,000) (37,000,000) 1,256,000,000  
Other comprehensive income (loss)                 52,000,000 (63,000,000) (113,000,000)  
Comprehensive income (loss)                 (131,000,000) (100,000,000) 1,143,000,000  
Weighted-average shares of common stock outstanding (in shares)                 326 326 326  
Basic earnings (loss) per share – continuing operations (in dollars per share)                 $ 4.61 $ 3.20 $ 3.34  
Basic earnings (loss) per share – discontinued operations (in dollars per share)                 $ (5.17) $ (3.31) $ 0.50  
Total (in dollars per share)                 $ (0.56) $ (0.11) $ 3.84  
Diluted earnings (loss) per share – continuing operations (in dollars per share)                 $ 4.55 $ 3.17 $ 3.32  
Diluted earnings (loss) per share – discontinued operations (in dollars per share)                 $ (5.11) $ (3.28) $ 0.50  
Total (in dollars per share)                 $ (0.56) $ (0.11) $ 3.82  
Condensed Statements of Cash Flows:                        
Net cash provided by operating activities                 355,000,000 437,000,000 90,000,000  
Cash flows from financing activities:                        
Long-term debt issued                 0 0 399,000,000  
Long-term debt issuance costs                 0 0 (3,000,000)  
Payable due to consolidated affiliate                 130,000,000 0 0  
Short-term debt financing, net                 (15,000,000) (9,000,000) (66,000,000)  
Settlements of stock-based compensation, net                 (10,000,000) (5,000,000) (6,000,000)  
Dividends paid                 (424,000,000) (417,000,000) (411,000,000)  
Net cash provided by financing activities                 (319,000,000) (431,000,000) (87,000,000)  
Net cash provided by investing activities:                 0 1,000,000 0  
Net increase in cash and cash equivalents                 36,000,000 7,000,000 3,000,000  
Cash and cash equivalents at beginning of year       28,000,000       21,000,000 28,000,000 21,000,000 18,000,000  
Cash and cash equivalents at end of year 64,000,000       28,000,000       64,000,000 28,000,000 21,000,000  
Dividends [Abstract]                        
Minimum percentage of weighted-average common equity component authorization, set by CPUC (as a percent)                 48.00%      
Cash dividends received from consolidated subsidiaries                 469,000,000 461,000,000 300,000,000  
Debt and Credit Agreements                        
Consolidated debt to total capitalization, ratio 0.46               0.46      
Related Party Transactions                        
Current receivables due from affiliates 23,000,000       219,000,000       23,000,000 219,000,000    
Current payables due to affiliates 146,000,000       106,000,000       146,000,000 106,000,000    
Long-term receivables due from affiliate 322,000,000               322,000,000      
Long-term payables due to affiliates 112,000,000       98,000,000       112,000,000 98,000,000    
Edison International | Revolving credit facility maturing in May 2017
                       
Debt and Credit Agreements                        
Short-term debt         10,000,000         10,000,000    
Weighted average interest rate (as a percent)         0.66%         0.66%    
Amount available 1,250,000,000               1,250,000,000      
Southern California Edison
                       
Assets:                        
Cash and cash equivalents 45,000,000       57,000,000       45,000,000 57,000,000 257,000,000  
Other current assets 123,000,000       89,000,000       123,000,000 89,000,000    
Total current assets 2,562,000,000       2,612,000,000       2,562,000,000 2,612,000,000    
Other 531,000,000       491,000,000       531,000,000 491,000,000    
Total assets 44,034,000,000       40,315,000,000       44,034,000,000 40,315,000,000    
Liabilities and Shareholders' Equity:                        
Accounts payable 1,297,000,000       1,319,000,000       1,297,000,000 1,319,000,000    
Other current liabilities 861,000,000       670,000,000       861,000,000 670,000,000    
Total current liabilities 3,513,000,000       3,848,000,000       3,513,000,000 3,848,000,000    
Long-term debt 8,828,000,000       8,431,000,000       8,828,000,000 8,431,000,000    
Common stockholders' equity 11,743,000,000       9,958,000,000       11,743,000,000 9,958,000,000 9,207,000,000 8,715,000,000
Total liabilities and equity 44,034,000,000       40,315,000,000       44,034,000,000 40,315,000,000    
Condensed Statements of Income:                        
Operating revenue and other income 3,057,000,000 3,731,000,000 2,651,000,000 2,412,000,000 2,514,000,000 3,386,000,000 2,446,000,000 2,232,000,000 11,851,000,000 10,577,000,000 9,983,000,000  
Operating expenses and interest expense                 9,572,000,000 8,454,000,000 8,119,000,000  
Loss before equity in earnings of subsidiaries 792,000,000 659,000,000 430,000,000 397,000,000 474,000,000 764,000,000 443,000,000 443,000,000 2,279,000,000 2,123,000,000 1,864,000,000  
Income tax expense (benefit)                 214,000,000 601,000,000 440,000,000  
Net income (loss) 858,000,000 [1],[2] 388,000,000 [1],[2] 214,000,000 [1],[2] 201,000,000 [1],[2] 262,000,000 421,000,000 226,000,000 236,000,000 1,660,000,000 [1],[2] 1,144,000,000 1,092,000,000  
Other comprehensive income (loss)                 (5,000,000) 1,000,000 (6,000,000)  
Condensed Statements of Cash Flows:                        
Net cash provided by operating activities                 4,086,000,000 3,261,000,000 3,386,000,000  
Cash flows from financing activities:                        
Long-term debt issued                 395,000,000 896,000,000 1,135,000,000  
Long-term debt issuance costs                 (4,000,000) (9,000,000) (16,000,000)  
Short-term debt financing, net                 (250,000,000) 419,000,000 0  
Settlements of stock-based compensation, net                 (57,000,000) (10,000,000) (5,000,000)  
Dividends paid                 (551,000,000) (520,000,000) (352,000,000)  
Net cash provided by financing activities                 256,000,000 799,000,000 503,000,000  
Net cash provided by investing activities:                 (4,354,000,000) (4,260,000,000) (4,094,000,000)  
Net increase in cash and cash equivalents                 (12,000,000) (200,000,000) (205,000,000)  
Cash and cash equivalents at beginning of year       57,000,000       257,000,000 57,000,000 257,000,000 462,000,000  
Cash and cash equivalents at end of year 45,000,000       57,000,000       45,000,000 57,000,000 257,000,000  
Dividends [Abstract]                        
Weighted-average common equity component authorization, set by CPUC remaining over number of months (in months)                 13 months      
Period for calculation of weighted average common equity component (months)                 13 months      
Weighted-average common equity component of total capitalization (as a percent)                 48.60%      
Restriction on net assets 11,600,000,000               11,600,000,000      
Capacity to pay additional dividends                 125,000,000      
Debt and Credit Agreements                        
Short-term debt 175,000,000       419,000,000       175,000,000 419,000,000    
Southern California Edison | Revolving credit facility maturing in May 2017
                       
Debt and Credit Agreements                        
Credit facility termination period     5 years                  
Commitment 2,750,000,000               2,750,000,000      
Outstanding borrowings (175,000,000)               (175,000,000)      
Amount available 2,413,000,000               2,413,000,000      
Southern California Edison | Edison International
                       
Related Party Transactions                        
Expenses from services provided by SCE                 4,000,000 3,000,000 3,000,000  
Edison Mission Energy
                       
Assets:                        
Investments in subsidiaries 0               0      
Edison Mission Energy | Edison International
                       
Related Party Transactions                        
Impairment and other charges, after tax $ 1,258,000,000                      
[1] During the fourth quarter of 2012, SCE corrected errors, primarily related to deferred taxes, that resulted in a net earnings benefit of $33 million which were not considered material to the current and prior period consolidated financial statements.
[2] During the fourth quarter of 2012, SCE implemented the 2012 GRC Decision which resulted in an earnings impact of approximately $500 million.
[3] During the fourth quarter of 2012, Edison International recorded a full impairment of its $1.2 billion investment in EME. See Note 17 for further information.