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Quarterly Financial Data (Unaudited) | 12 Months Ended
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Dec. 31, 2012
Quarterly Financial Information Disclosure [Abstract] |
Quarterly Financial Data (Unaudited) | Quarterly Financial Data (Unaudited) Edison International's quarterly financial data is as follows:
| 2012
(in millions, except per-share amounts) | Total |  | Fourth |  | Third |  | Second |  | First
Operating revenue | $ | 11,862 |  |  | $ | 3,060 |  |  | $ | 3,734 |  |  | $ | 2,653 |  |  | $ | 2,415 |
Operating income | 2,285 |  |  | 765 |  |  | 714 |  |  | 420 |  |  | 389 |
Income from continuing operations 1, 2 | 1,594 |  |  | 812 |  |  | 382 |  |  | 207 |  |  | 196 |
Loss from discontinued operations, net 3 | (1,686 | ) |  | (1,326 | ) |  | (167 | ) |  | (109 | ) |  | (84 | )
Net income (loss) attributable to common shareholders | (183 | ) |  | (539 | ) |  | 190 |  |  | 74 |  |  | 93 |
Basic earnings (loss) per share: |  |  |  |  |  |  |  |  |
Continuing operations | 4.61 |  |  | 2.42 |  |  | 1.09 |  |  | 0.57 |  |  | 0.54 |
Discontinued operations | (5.17 | ) |  | (4.07 | ) |  | (0.51 | ) |  | (0.34 | ) |  | (0.26 | )
Total | (0.56 | ) |  | (1.65 | ) |  | 0.58 |  |  | 0.23 |  |  | 0.28 |
Diluted earnings (loss) per share: |  |  |  |  |  |  |  |  |
Continuing operations | 4.55 |  |  | 2.39 |  |  | 1.09 |  |  | 0.55 |  |  | 0.54 |
Discontinued operations | (5.11 | ) |  | (4.03 | ) |  | (0.51 | ) |  | (0.33 | ) |  | (0.26 | )
Total | (0.56 | ) |  | (1.64 | ) |  | 0.58 |  |  | 0.22 |  |  | 0.28 |
Dividends declared per share | 1.3125 |  |  | 0.3375 |  |  | 0.325 |  |  | 0.325 |  |  | 0.325 |
Common stock prices: |  |  |  |  |  |  |  |  |
High | 47.96 |  |  | 47.96 |  |  | 46.94 |  |  | 46.55 |  |  | 44.50 |
Low | 39.60 |  |  | 42.57 |  |  | 43.10 |  |  | 41.42 |  |  | 39.60 |
Close | 45.19 |  |  | 45.19 |  |  | 45.69 |  |  | 46.20 |  |  | 42.51 |
1 | During the fourth quarter of 2012, SCE implemented the 2012 GRC Decision which resulted in an earnings impact of approximately $500 million.
2 | 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.
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.
| 2011
(in millions, except per-share amounts) | Total |  | Fourth |  | Third |  | Second |  | First
Operating revenue | $ | 10,588 |  |  | $ | 2,517 |  |  | $ | 3,389 |  |  | $ | 2,449 |  |  | $ | 2,233 |
Operating income | 2,061 |  |  | 440 |  |  | 755 |  |  | 434 |  |  | 433 |
Income from continuing operations | 1,100 |  |  | 236 |  |  | 408 |  |  | 223 |  |  | 234 |
Income (loss) from discontinued operations, net | (1,078 | ) |  | (1,060 | ) |  | 33 |  |  | (32 | ) |  | (20 | )
Net income (loss) attributable to common shareholders | (37 | ) |  | (839 | ) |  | 426 |  |  | 176 |  |  | 200 |
Basic earnings (loss) per share: |  |  |  |  |  |  |  |  |
Continuing operations | 3.20 |  |  | 0.68 |  |  | 1.21 |  |  | 0.64 |  |  | 0.67 |
Discontinued operations | (3.31 | ) |  | (3.25 | ) |  | 0.10 |  |  | (0.10 | ) |  | (0.06 | )
Total | (0.11 | ) |  | (2.57 | ) |  | 1.31 |  |  | 0.54 |  |  | 0.61 |
Diluted earnings (loss) per share: |  |  |  |  |  |  |  |  |
Continuing operations | 3.17 |  |  | 0.66 |  |  | 1.20 |  |  | 0.64 |  |  | 0.67 |
Discontinued operations | (3.28 | ) |  | (3.22 | ) |  | 0.10 |  |  | (0.10 | ) |  | (0.06 | )
Total | (0.11 | ) |  | (2.56 | ) |  | 1.30 |  |  | 0.54 |  |  | 0.61 |
Dividends declared per share | 1.285 |  |  | 0.325 |  |  | 0.320 |  |  | 0.320 |  |  | 0.320 |
Common stock prices: |  |  |  |  |  |  |  |  |
High | 41.57 |  |  | 41.57 |  |  | 39.25 |  |  | 40.15 |  |  | 39.20 |
Low | 32.64 |  |  | 35.63 |  |  | 32.64 |  |  | 36.54 |  |  | 35.12 |
Close | 41.40 |  |  | 41.40 |  |  | 38.25 |  |  | 38.75 |  |  | 36.59 |
SCE's quarterly financial data is as follows:
| 2012
(in millions) | Total |  | Fourth |  | Third |  | Second |  | First
Operating revenue | $ | 11,851 |  |  | $ | 3,057 |  |  | $ | 3,731 |  |  | $ | 2,651 |  |  | $ | 2,412 |
Operating income | 2,279 |  |  | 792 |  |  | 659 |  |  | 430 |  |  | 397 |
Net income 1, 2 | 1,660 |  |  | 858 |  |  | 388 |  |  | 214 |  |  | 201 |
Net income available for common stock | 1,569 |  |  | 833 |  |  | 363 |  |  | 191 |  |  | 182 |
Common dividends declared | 469 |  |  | 120 |  |  | 116 |  |  | 116 |  |  | 116 |
| 2011
(in millions) | Total |  | Fourth |  | Third |  | Second |  | First
Operating revenue | $ | 10,577 |  |  | $ | 2,514 |  |  | $ | 3,386 |  |  | $ | 2,446 |  |  | $ | 2,232 |
Operating income | 2,123 |  |  | 474 |  |  | 764 |  |  | 443 |  |  | 443 |
Net income | 1,144 |  |  | 262 |  |  | 421 |  |  | 226 |  |  | 236 |
Net income available for common stock | 1,085 |  |  | 247 |  |  | 406 |  |  | 211 |  |  | 222 |
Common dividends declared | 461 |  |  | 116 |  |  | 115 |  |  | 115 |  |  | 115 |
1 | During the fourth quarter of 2012, SCE implemented the 2012 GRC Decision which resulted in an earnings impact of approximately $500 million.
2 | 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.
Due to the seasonal nature of Edison International and SCE's business, a significant amount of revenue and earnings are recorded in the third quarter of each year. As a result of rounding, the total of the four quarters does not always equal the amount for the year.

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