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Schedule I - Condensed Financial Information of Parent | 12 Months Ended
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Dec. 31, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Schedule I - Condensed Financial Information of Parent | EDISON INTERNATIONAL SCHEDULE I – CONDENSED FINANCIAL INFORMATION OF PARENT CONDENSED BALANCE SHEETS
| December 31,
(in millions) | 2015 |  | 2014
Assets: |  |  |
Cash and cash equivalents | $ | 7 |  |  | $ | 8 |
Other current assets | 259 |  |  | 531 |
Total current assets | 266 |  |  | 539 |
Investments in subsidiaries | 12,696 |  |  | 12,416 |
Deferred income taxes | 626 |  |  | 547 |
Other long-term assets | 111 |  |  | 172 |
Total assets | $ | 13,699 |  |  | $ | 13,674 |
Liabilities and equity: |  |  |
Short-term debt | $ | 646 |  |  | $ | 619 |
Current portion of long-term debt | 214 |  |  | 204 |
Other current liabilities | 368 |  |  | 377 |
Total current liabilities | 1,228 |  |  | 1,200 |
Long-term debt | 399 |  |  | 610 |
Other long-term liabilities | 704 |  |  | 904 |
Total equity | 11,368 |  |  | 10,960 |
Total liabilities and equity | $ | 13,699 |  |  | $ | 13,674 |
EDISON INTERNATIONAL SCHEDULE I – CONDENSED FINANCIAL INFORMATION OF PARENT CONDENSED STATEMENTS OF INCOME For the Years Ended December 31, 2015, 2014 and 2013
(in millions) | 2015 |  | 2014 |  | 2013
Operating revenue and other income | $ | 3 |  |  | $ | 3 |  |  | $ | — |
Operating expenses and interest expense | 78 |  |  | 94 |  |  | 72 |
Loss before equity in earnings of subsidiaries | (75 | ) |  | (91 | ) |  | (72 | )
Equity in earnings of subsidiaries | 1,025 |  |  | 1,482 |  |  | 922 |
Income before income taxes | 950 |  |  | 1,391 |  |  | 850 |
Income tax benefit | (35 | ) |  | (36 | ) |  | (29 | )
Income from continuing operations | 985 |  |  | 1,427 |  |  | 879 |
Income from discontinued operations, net of tax | 35 |  |  | 185 |  |  | 36 |
Net income | $ | 1,020 |  |  | $ | 1,612 |  |  | $ | 915 |
CONDENSED STATEMENTS OF COMPREHENSIVE INCOME For the Years Ended December 31, 2015, 2014 and 2013
(in millions) | 2015 |  | 2014 |  | 2013
Net income | $ | 1,020 |  |  | $ | 1,612 |  |  | $ | 915 |
Other comprehensive income (loss), net of tax | 2 |  |  | (45 | ) |  | 74 |
Comprehensive income | $ | 1,022 |  |  | $ | 1,567 |  |  | $ | 989 |
EDISON INTERNATIONAL SCHEDULE I – CONDENSED FINANCIAL INFORMATION OF PARENT CONDENSED STATEMENTS OF CASH FLOWS For the Years Ended December 31, 2015, 2014 and 2013
(in millions) | 2015 |  | 2014 |  | 2013
Net cash provided by (used in) operating activities | $ | 641 |  |  | $ | (73 | ) |  | $ | 387 |
Cash flows from financing activities: |  |  |  |  |
Payable due to affiliate | 54 |  |  | 66 |  |  | 10 |
Short-term debt financing, net | 26 |  |  | 584 |  |  | 33 |
Settlements of stock-based compensation, net | (42 | ) |  | (24 | ) |  | (6 | )
Dividends paid | (544 | ) |  | (463 | ) |  | (440 | )
Net cash (used in) provided by financing activities | (506 | ) |  | 163 |  |  | (403 | )
Net cash used in investing activities: | (136 | ) |  | (95 | ) |  | (35 | )
Net decrease in cash and cash equivalents | (1 | ) |  | (5 | ) |  | (51 | )
Cash and cash equivalents, beginning of year | 8 |  |  | 13 |  |  | 64 |
Cash and cash equivalents, end of year | $ | 7 |  |  | $ | 8 |  |  | $ | 13 |
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 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 $758 million, $378 million and $486 million in 2015, 2014 and 2013, 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, 2015, SCE's 13-month weighted-average common equity component of total capitalization was 49.9% and the maximum additional dividend that SCE could pay to Edison International under this limitation was approximately $441 million, resulting in a restriction on SCE's net assets of $13.2 billion. Note 2. Debt and Credit Agreements Long-Term Debt At December 31, 2015 and 2014, Edison International Parent had 3.75% senior notes outstanding of $400 million, which matures in 2017. In connection with a settlement agreement between Edison International, EME and the Consenting Noteholders, in September 2014, Edison International Parent issued non-interest bearing promissory notes of which $204 million was paid on September 30, 2015 and $214 million is due on September 30, 2016. Credit Agreements and Short-Term Debt In 2015, Edison International Parent amended the credit facility to extend the maturity date for the $1.25 billion credit facility to July 2020. At December 31, 2015, the outstanding commercial paper was $646 million at a weighted-average interest rate of 0.78%. This short-term debt 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%. The following table summarizes the status of the credit facility at December 31, 2015:
(in millions) |
Commitment | $ | 1,250 |
Outstanding borrowings | (646 | )
Amount available | $ | 604 |
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 excluded the consolidated debt and total capital of EME during the periods it was consolidated for financial reporting purposes. At December 31, 2015, Edison International's consolidated debt to total capitalization ratio was 0.47 to 1. Note 3. Related-Party Transactions Edison International's Parent expenses from services provided by SCE were $3 million annually in 2015, 2014 and 2013. Edison International Parent had current related-party receivables of $252 million and $267 million and current related-party payables of $149 million and $213 million at December 31, 2015 and 2014, respectively. Edison International Parent had long-term related-party receivables of $105 million and $125 million at December 31, 2015 and 2014, respectively, and long-term related-party payables of $213 million and $179 million at December 31, 2015 and 2014, respectively. Note 4. Contingencies For a discussion of material contingencies see "Notes to Consolidated Financial Statements—Note 7. Income Taxes," "—Note 11. Commitments and Contingencies" and "—Note 15. 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 FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=51664549&loc=d3e5283-111683 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 SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph c -Article 5 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 06 -Article 9 Reference 5: 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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