Schedule I - Condensed Financial Information of Parent

12 Months Ended

Dec. 31, 2012

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Financial Information of Parent

EDISON INTERNATIONAL

SCHEDULE I – CONDENSED FINANCIAL INFORMATION OF PARENT

CONDENSED BALANCE SHEETS

	December 31,
(in millions)	2012		2011
Assets:
Cash and equivalents	$	64	$	28
Other current assets	18		236
Total current assets	82		264
Investments in subsidiaries	9,903		10,511
Deferred income tax	555		150
Other	414		192
Total assets	$	10,954	$	11,117
Liabilities and Shareholders' Equity:
Accounts payable	$	105	$	4
Other current liabilities	184		448
Total current liabilities	289		452
Long-term debt	400		400
Other	833		210
Common stockholders' equity	9,432		10,055
Total liabilities and common shareholders' equity	$	10,954	$	11,117

EDISON INTERNATIONAL

SCHEDULE I – CONDENSED FINANCIAL INFORMATION OF PARENT

CONDENSED STATEMENTS OF INCOME

For the Years Ended December 31, 2012, 2011 and 2010

(in millions, except per-share amounts)	2012			2011			2010
Operating revenue and other income	$	—		$	—		$	—
Operating expenses and interest expense	80			63			56
Loss before equity in earnings of subsidiaries	(80		)	(63		)	(56		)
Equity in earnings of subsidiaries	1,590			1,077			1,098
Income before income taxes	1,510			1,014			1,042
Income tax expense (benefit)	7			(27		)	(50		)
Income from continued operations	1,503			1,041			1,092
Income (loss) from discontinued operations, net of tax	(1,686		)	(1,078		)	164
Net income (loss) attributable to Edison International common shareholders	$	(183	)	$	(37	)	$	1,256
Weighted-average common stock outstanding	326			326			326
Basic earnings (loss) per share:
Continuing operations	$	4.61		$	3.20		$	3.34
Discontinued operations	(5.17		)	(3.31		)	0.50
Total	$	(0.56	)	$	(0.11	)	$	3.84
Diluted earnings (loss) per share:
Continuing operations	$	4.55		$	3.17		$	3.32
Discontinued operations	(5.11		)	(3.28		)	0.50
Total	$	(0.56	)	$	(0.11	)	$	3.82

CONDENSED STATEMENTS OF COMPREHENSIVE INCOME

For the Years Ended December 31, 2012, 2011 and 2010

(in millions)	2012			2011			2010
Net income (loss)	$	(183	)	$	(37	)	$	1,256
Other comprehensive income (loss)	52			(63		)	(113		)
Comprehensive income (loss)	$	(131	)	$	(100	)	$	1,143

EDISON INTERNATIONAL

SCHEDULE I – CONDENSED FINANCIAL INFORMATION OF PARENT

CONDENSED STATEMENTS OF CASH FLOWS

For the Years Ended December 31, 2012, 2011 and 2010

(in millions)	2012			2011			2010
Net cash provided by operating activities	$	355		$	437		$	90
Cash flows from financing activities:
Long-term debt issued	—			—			399
Long-term debt issuance costs	—			—			(3		)
Payable due to consolidated affiliate	130			—			—
Short-term debt financing, net	(15		)	(9		)	(66		)
Settlements of stock-based compensation, net	(10		)	(5		)	(6		)
Dividends paid	(424		)	(417		)	(411		)
Net cash used by financing activities	(319		)	(431		)	(87		)
Net cash provided by investing activities	—			1			—
Net increase in cash and cash equivalents	36			7			3
Cash and cash equivalents, beginning of year	28			21			18
Cash and cash equivalents, end of year	$	64		$	28		$	21

Note 1. Basis of Presentation

The accompanying condensed financial statements of Edison International (parent) should be read in conjunction with the consolidated financial statements and notes thereto of Edison International and subsidiaries ("Registrant") included in Part II, Item 8 of this Form 10-K. Edison International's (parent) significant accounting policies are consistent with those of the Registrant, SCE and other wholly owned and controlled subsidiaries.

Dividends Paid

SCE paid cash dividends to Edison International of $469 million, $461 million and $300 million in 2012, 2011 and 2010, respectively.

Dividend Restrictions

The CPUC regulates SCE's capital structure which limits the dividends it may pay Edison International. SCE may make distributions to Edison International as long as the common equity component of SCE's capital structure remains at or above the 48% on a 13-month weighted average basis. At December 31, 2012, SCE's 13-month weighted-average common equity component of total capitalization was 48.6% resulting in a restriction on SCE's net assets of $11.6 billion. At December 31, 2012, the maximum additional dividend that SCE could pay to Edison International under this limitation was approximately $125 million.

Note 2. Debt and Credit Agreements

Long-Term Debt

As of December 31, 2012, Edison International (parent) had 3.75% senior notes outstanding of $400 million, which matures in 2017.

Credit Agreements and Short-Term Debt

During the second quarter of 2012, Edison International (parent) replaced its credit facility with a $1.25 billionfive-year revolving credit facility that matures in May 2017. Borrowings under this credit facility are used for general corporate purposes. At December 31, 2012, Edison International's (parent) had no outstanding short-term debt. At December 31, 2011, the outstanding short-term debt was $10 million at a weighted-average interest rate of 0.66%.

The following table summarizes the status of the credit facility at December 31, 2012:

(in millions)	Edison International Parent
Commitment	$	1,250
Outstanding borrowings	—
Amount available	$	1,250

The debt covenant in Edison International's credit facility requires a consolidated debt to total capitalization ratio of less than or equal to 0.65 to 1. The ratio is defined in the credit agreement and generally excludes the consolidated debt and total capital of EME during the periods it was consolidated for financial reporting purposes. At December 31, 2012, Edison International's consolidated debt to total capitalization ratio was 0.46 to 1.

Note 3. Related-Party Transactions

Edison International's (parent) expenses from services provided by SCE were $4 million, $3 million and $3 million for the years ended December 31, 2012, 2011 and 2010, respectively. Edison International (parent) had current receivables due from affiliates of $23 million and $219 million and current payables due to affiliates of $146 million and $106 million at December 31, 2012 and 2011, respectively. Edison International (parent) had long-term receivable due from affiliates of $322 million at December 31, 2012 and long-term payables due to affiliates of $112 million and $98 million at December 31, 2012 and 2011, respectively.

Note 4. EME Chapter 11 Bankruptcy Filing

Edison International (parent) recorded an after-tax charge of $1.3 billion during the fourth quarter of 2012 related to the deconsolidation of EME. See "Item 8. Notes to Consolidated Financial Statements—Note 17. Discontinued Operations" for further information related to these bankruptcy proceedings.

Note 5. Contingencies

For a discussion of material contingencies see "Item 8. Notes to Consolidated Financial Statements—Note 7. Income Taxes," "—Note 9. Commitments and Contingencies" and "—Note 17. Discontinued Operations."