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Schedule I - Condensed Financial Information of Parent | 12 Months Ended
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Dec. 31, 2013
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) | 2013 |  | 2012
Assets: |  |  |
Cash and cash equivalents | $ | 13 |  |  | $ | 64 |
Other current assets | 166 |  |  | 18 |
Total current assets | 179 |  |  | 82 |
Investments in subsidiaries | 10,328 |  |  | 9,903 |
Deferred income tax | 559 |  |  | 555 |
Other long-term assets | 615 |  |  | 414 |
Total assets | $ | 11,681 |  |  | $ | 10,954 |
Liabilities and equity: |  |  |
Accounts payable | $ | 3 |  |  | $ | 105 |
Other current liabilities | 629 |  |  | 184 |
Total current liabilities | 632 |  |  | 289 |
Long-term debt | 400 |  |  | 400 |
Other long-term liabilities | 721 |  |  | 833 |
Total equity | 9,928 |  |  | 9,432 |
Total liabilities and equity | $ | 11,681 |  |  | $ | 10,954 |
EDISON INTERNATIONAL SCHEDULE I – CONDENSED FINANCIAL INFORMATION OF PARENT CONDENSED STATEMENTS OF INCOME For the Years Ended December 31, 2013, 2012 and 2011
(in millions, except per-share amounts) | 2013 |  | 2012 |  | 2011
Operating revenue and other income | $ | — |  |  | $ | — |  |  | $ | — |
Operating expenses and interest expense | 72 |  |  | 80 |  |  | 63 |
Loss before equity in earnings of subsidiaries | (72 | ) |  | (80 | ) |  | (63 | )
Equity in earnings of subsidiaries | 922 |  |  | 1,590 |  |  | 1,077 |
Income before income taxes | 850 |  |  | 1,510 |  |  | 1,014 |
Income tax expense (benefit) | (29 | ) |  | 7 |  |  | (27 | )
Income from continued operations | 879 |  |  | 1,503 |  |  | 1,041 |
Income (loss) from discontinued operations, net of tax | 36 |  |  | (1,686 | ) |  | (1,078 | )
Net income (loss) attributable to Edison International common shareholders | $ | 915 |  |  | $ | (183 | ) |  | $ | (37 | )
Weighted-average common stock outstanding | 326 |  |  | 326 |  |  | 326 |
Basic earnings (loss) per share: |  |  |  |  |
Continuing operations | $ | 2.70 |  |  | $ | 4.61 |  |  | $ | 3.20 |
Discontinued operations | 0.11 |  |  | (5.17 | ) |  | (3.31 | )
Total | $ | 2.81 |  |  | $ | (0.56 | ) |  | $ | (0.11 | )
Diluted earnings (loss) per share: |  |  |  |  |
Continuing operations | $ | 2.67 |  |  | $ | 4.55 |  |  | $ | 3.17 |
Discontinued operations | 0.11 |  |  | (5.11 | ) |  | (3.28 | )
Total | $ | 2.78 |  |  | $ | (0.56 | ) |  | $ | (0.11 | )
CONDENSED STATEMENTS OF COMPREHENSIVE INCOME For the Years Ended December 31, 2013, 2012 and 2011
(in millions) | 2013 |  | 2012 |  | 2011
Net income (loss) | $ | 915 |  |  | $ | (183 | ) |  | $ | (37 | )
Other comprehensive income (loss) | 74 |  |  | 52 |  |  | (63 | )
Comprehensive income (loss) | $ | 989 |  |  | $ | (131 | ) |  | $ | (100 | )
EDISON INTERNATIONAL SCHEDULE I – CONDENSED FINANCIAL INFORMATION OF PARENT CONDENSED STATEMENTS OF CASH FLOWS For the Years Ended December 31, 2013, 2012 and 2011
(in millions) | 2013 |  | 2012 |  | 2011
Net cash provided by operating activities | $ | 387 |  |  | $ | 355 |  |  | $ | 437 |
Cash flows from financing activities: |  |  |  |  |
Payable due to consolidated affiliate | 10 |  |  | 130 |  |  | — |
Short-term debt financing, net | 33 |  |  | (15 | ) |  | (9 | )
Settlements of stock-based compensation, net | (6 | ) |  | (10 | ) |  | (5 | )
Dividends paid | (440 | ) |  | (424 | ) |  | (417 | )
Net cash used by financing activities | (403 | ) |  | (319 | ) |  | (431 | )
Net cash provided (used) by investing activities: | (35 | ) |  | — |  |  | 1 |
Net increase (decrease) in cash and cash equivalents | (51 | ) |  | 36 |  |  | 7 |
Cash and cash equivalents, beginning of year | 64 |  |  | 28 |  |  | 21 |
Cash and cash equivalents, end of year | $ | 13 |  |  | $ | 64 |  |  | $ | 28 |
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 Received Edison International Parent received cash dividends from SCE of $486 million, $469 million and $461 million in 2013, 2012 and 2011, 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, 2013, SCE's 13-month weighted-average common equity component of total capitalization was 49.2% and the maximum additional dividend that SCE could pay to Edison International under this limitation was approximately $247 million, resulting in a restriction on SCE's net assets of $11.9 billion. Note 2. Debt and Credit Agreements Long-Term Debt At December 31, 2013 and 2012, Edison International Parent had 3.75% senior notes outstanding of $400 million, which matures in 2017. Credit Agreements and Short-Term Debt In 2013, Edison International Parent amended its $1.25 billion credit facility to extend the maturity date to July 2018. At December 31, 2013, the outstanding commercial paper was $34 million at a weighted-average interest rate of 0.55%. This short-term debt was supported by the $1.25 billion multi-year revolving credit facility. At December 31, 2012, Edison International Parent had no outstanding short-term debt. The following table summarizes the status of the credit facility at December 31, 2013:
(in millions) |
Commitment | $ | 1,250 |
Outstanding borrowings | (34 | )
Amount available | $ | 1,216 |
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, 2013, Edison International's consolidated debt to total capitalization ratio was 0.45 to 1. Note 3. Related-Party Transactions Edison International's Parent expenses from services provided by SCE were $3 million, $4 million and $3 million for the years ended December 31, 2013, 2012 and 2011, respectively. Edison International Parent had current related-party receivables of $34 million and $23 million and current related-party payables of $69 million and $146 million at December 31, 2013 and 2012, respectively. Edison International Parent had long-term related-party receivables of $486 million and $322 million at December 31, 2013 and 2012, respectively, and long-term related-party payables of $135 million and $112 million at December 31, 2013 and 2012, respectively. Note 4. EME Chapter 11 Bankruptcy Filing Edison International Parent recorded an income tax benefit of $36 million and an after-tax charge of $1.3 billion for the year ended December 31, 2013 and 2012, respectively, related to the deconsolidation of EME. See "Item 8. Notes to Consolidated Financial Statements—Note 7. Income Taxes," "—Note 12. Commitments and Contingencies" and "—Note 16. 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 12. Commitments and Contingencies" and "—Note 16. Discontinued Operations."

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- 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 06 -Article 9 Reference 2: 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=26873400&loc=d3e24072-122690 Reference 3: 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 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 12 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph c -Article 5 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 05 -Paragraph c -Article 7 + Details
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