XML 58 R29.htm IDEA: XBRL DOCUMENT
v2.4.0.6

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 billion five-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."

X
- Details
Name: | us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph c -Article 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 12 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 06 -Article 9 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 05 -Paragraph c -Article 7 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=7656940&loc=d3e5283-111683 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e24072-122690 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 24 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
Name: | us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration