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Debt and Credit Agreements
6 Months Ended
Jun. 30, 2012
Debt Disclosure [Abstract]  
Debt and Credit Agreements
Debt and Credit Agreements
Long-Term Debt
In March 2012, SCE issued $400 million of 4.05% first and refunding mortgage bonds due in 2042. The proceeds from these bonds were used to repay commercial paper borrowings and to fund SCE's capital program.
Credit Agreements and Short-Term Debt
During the second quarter of 2012, SCE replaced its credit facilities with a $2.75 billion five-year revolving credit facility that matures in May 2017. The credit facility is generally used to support commercial paper and letters of credit issued for procurement-related collateral requirements, balancing account undercollections and for general corporate purposes, including working capital requirements to support operations and capital expenditures. At June 30, 2012, SCE's outstanding commercial paper supported by the credit facility was $300 million at a weighted-average interest rate of 0.43%. At June 30, 2012, letters of credit issued under SCE's credit facility aggregated $63 million and are scheduled to expire in twelve months or less.
At December 31, 2011, the outstanding commercial paper was $419 million at a weighted-average interest rate of 0.44%.