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Debt and Credit Agreements | 12 Months Ended
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Dec. 31, 2015
Debt Disclosure [Abstract] |
Debt and Credit Agreements | Debt and Credit Agreements Long-Term Debt The following table summarizes long-term debt (rates and terms are as of December 31, 2015) of Edison International and SCE:
| December 31,
(in millions) | 2015 |  | 2014
Edison International Parent and Other: |  |  |
Debentures and notes: |  |  |
2016 – 2017 (0% to 3.75%) | $ | 614 |  |  | $ | 817 |
Other long-term debt | 31 |  |  | 2 |
Current portion of long-term debt | (216 | ) |  | (204 | )
Unamortized debt discount, net | (2 | ) |  | (5 | )
Total Edison International Parent and Other | 427 |  |  | 610 |
SCE: |  |  |
First and refunding mortgage bonds: |  |  |
2017 – 2045 (1.125% to 6.05%) | 9,436 |  |  | 8,875 |
Pollution-control bonds: |  |  |
2028 – 2035 (1.375% to 5.0% and variable)1 | 909 |  |  | 779 |
Debentures and notes: |  |  |
2029 – 2053 (5.06% to 6.65%) | 307 |  |  | 307 |
Current portion of long-term debt | (79 | ) |  | (300 | )
Unamortized debt discount, net | (36 | ) |  | (37 | )
Total SCE | 10,537 |  |  | 9,624 |
Total Edison International | $ | 10,964 |  |  | $ | 10,234 |
1 | Includes outstanding bonds that have not been retired and may be remarketed to investors in the future. These bonds have variable rates and are due in 2031 at December 31, 2015.
Edison International and SCE long-term debt maturities over the next five years are the following:
(in millions) | Edison International |  | SCE
2016 | $ | 295 |  |  | $ | 79 |
2017 | 903 |  |  | 500 |
2018 | 402 |  |  | 400 |
2019 | 2 |  |  | — |
2020 | 1 |  |  | — |
During the first quarter of 2015, SCE issued $550 million of 1.845% amortizing first and refunding mortgage bonds due in 2022, $325 million of 2.4% first and refunding mortgage bonds due in 2022, and $425 million of 3.6% first and refunding mortgage bonds due in 2045. The proceeds from these bonds were used to repay outstanding debt and for general corporate purposes. The $550 million amortizing first and refunding mortgage bonds and the $325 million of first and refunding mortgage bonds have been designated as a financing of the San Onofre regulatory asset. During the second quarter of 2015, SCE reissued $56 million of 1.875% pollution-control bonds due in 2029 and $75 million of 1.875% pollution-control bonds due in 2031. The proceeds were used to repay commercial paper borrowings and for general corporate purposes. Project Financings Indirect subsidiaries of Edison International entered into a non-recourse debt financing to support investment in approximately 29 megawatts of solar rooftop projects. Borrowings under this financing agreement, were converted to a 7-year term loan during September 2015. As of December 31, 2015, there was approximately $25 million outstanding under this financing at a weighted average interest rate of 3.11% which is classified as long-term debt. As of December 31, 2014, there was $5.1 million outstanding under this financing at a weighted average interest rate of 2.67% which was classified as short-term debt. During 2014, an indirect subsidiary of Edison International entered into an $80 million non-recourse debt financing to support equity contributions in solar projects. The maturity date of any borrowings under this agreement is December 31, 2036. As of December 31, 2015, there was $6 million outstanding under this agreement at a weighted average interest rate of 9%. At December 31, 2014, there were no loans outstanding under this agreement. Liens and Security Interests Almost all of SCE's properties are subject to a trust indenture lien. SCE has pledged first and refunding mortgage bonds as collateral for borrowed funds obtained from pollution-control bonds issued by government agencies. SCE has a debt covenant that requires a debt to total capitalization ratio be met. At December 31, 2015, SCE was in compliance with this debt covenant. All of the properties subject to the Edison Energy Group project financings discussed above are subject to a lien. Credit Agreements and Short-Term Debt The following table summarizes the status of the credit facilities at December 31, 2015:
(in millions) | Edison International Parent |  | SCE
Commitment | $ | 1,250 |  |  | $ | 2,750 |
Outstanding borrowings | (646 | ) |  | (49 | )
Outstanding letters of credit | — |  |  | (125 | )
Amount available | $ | 604 |  |  | $ | 2,576 |
SCE and Edison International have multi-year revolving credit facilities of $2.75 billion and $1.25 billion, with both maturing in July 2020. SCE's credit facility is generally used to support commercial paper borrowings 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. Edison International Parent's credit facility is used to support commercial paper borrowings and for general corporate purposes. At December 31, 2015, commercial paper supported by SCE's credit facility was $49 million at a weighted-average interest rate of 0.51%. At December 31, 2015, letters of credit issued under SCE's credit facility aggregated $125 million and are scheduled to expire in twelve months or less. At December 31, 2014, the outstanding commercial paper was $367 million at a weighted-average interest rate of 0.40%. At December 31, 2015, Edison International Parent's outstanding commercial paper was $646 million at a weighted-average interest rate of 0.78%. This commercial paper was supported by the $1.25 billion multi-year revolving credit facility. At December 31, 2014, the outstanding commercial paper was $619 million at a weighted-average interest rate of 0.45%.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20,22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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