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Quarterly Financial Data (Unaudited) | 12 Months Ended
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Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract] |
Quarterly Financial Data (Unaudited) | Quarterly Financial Data (Unaudited) Edison International's quarterly financial data is as follows:
| 2016
(in millions, except per-share amounts) | Total |  | Fourth |  | Third |  | Second |  | First
Operating revenue | $ | 11,869 |  |  | $ | 2,884 |  |  | $ | 3,767 |  |  | $ | 2,777 |  |  | $ | 2,440 |
Operating income | 2,092 |  |  | 566 |  |  | 695 |  |  | 381 |  |  | 448 |
Income from continuing operations 1 | 1,413 |  |  | 347 |  |  | 451 |  |  | 310 |  |  | 305 |
Income (loss) from discontinued operations, net | 12 |  |  | 13 |  |  | — |  |  | (2 | ) |  | 1 |
Net income attributable to common shareholders 1 | 1,311 |  |  | 329 |  |  | 421 |  |  | 280 |  |  | 281 |
Basic earnings (loss) per share 1: |  |  |  |  |  |  |  |  |
Continuing operations | $ | 3.99 |  |  | $ | 0.97 |  |  | $ | 1.29 |  |  | $ | 0.87 |  |  | $ | 0.86 |
Discontinued operations | 0.03 |  |  | 0.04 |  |  | — |  |  | (0.01 | ) |  | — |
Total | $ | 4.02 |  |  | $ | 1.01 |  |  | $ | 1.29 |  |  | $ | 0.86 |  |  | $ | 0.86 |
Diluted earnings (loss) per share 1: |  |  |  |  |  |  |  |  |
Continuing operations | $ | 3.94 |  |  | $ | 0.96 |  |  | $ | 1.27 |  |  | $ | 0.86 |  |  | $ | 0.85 |
Discontinued operations | 0.03 |  |  | 0.04 |  |  | — |  |  | (0.01 | ) |  | — |
Total | $ | 3.97 |  |  | $ | 1.00 |  |  | $ | 1.27 |  |  | $ | 0.85 |  |  | $ | 0.85 |
Dividends declared per share | 1.9825 |  |  | 0.5425 |  |  | 0.4800 |  |  | 0.4800 |  |  | 0.4800 |
Common stock prices: |  |  |  |  |  |  |  |  |
High | $ | 78.72 |  |  | $ | 73.81 |  |  | $ | 78.72 |  |  | $ | 77.71 |  |  | $ | 72.34 |
Low | 57.97 |  |  | 67.44 |  |  | 71.31 |  |  | 67.71 |  |  | 57.97 |
Close | 71.99 |  |  | 71.99 |  |  | 72.25 |  |  | 77.67 |  |  | 71.89 |
1 | Edison International adopted an accounting standard related to share-based payments during the fourth quarter of 2016, effective January 1, 2016. See Note 1 for further information. The table above reflects the adoption of this standard on January 1, 2016. Net income from continuing operations, as previously reported, was $449 million for the third quarter of 2016, $306 million for the second quarter of 2016 and $295 million for the first quarter of 2016. Net income attributable to common shareholders, as previously reported, was $419 million for the third quarter of 2016, $276 million for the second quarter of 2016 and $271 million for the first quarter of 2016. Basic EPS for continuing operations, as previously reported, was $1.29 for the third quarter of 2016, $0.86 for the second quarter of 2016 and $0.83 for the first quarter of 2016. Diluted EPS for continuing operations, as previously reported, was $1.27 for the third quarter of 2016, $0.85 for the second quarter of 2016 and $0.82 for the first quarter of 2016.
| 2015
(in millions, except per-share amounts) | Total |  | Fourth |  | Third |  | Second |  | First
Operating revenue | $ | 11,524 |  |  | $ | 2,341 |  |  | $ | 3,763 |  |  | $ | 2,908 |  |  | $ | 2,512 |
Operating income | 2,008 |  |  | 340 |  |  | 608 |  |  | 524 |  |  | 538 |
Income (loss) from continuing operations 1 | 1,082 |  |  | (47 | ) |  | 405 |  |  | 406 |  |  | 318 |
Income (loss) from discontinued operations, net | 35 |  |  | (8 | ) |  | 43 |  |  | — |  |  | — |
Net income (loss) attributable to common shareholders | 1,020 |  |  | (79 | ) |  | 421 |  |  | 379 |  |  | 299 |
Basic earnings (loss) per share: |  |  |  |  |  |  |  |  |
Continuing operations | $ | 3.02 |  |  | $ | (0.22 | ) |  | $ | 1.16 |  |  | $ | 1.16 |  |  | $ | 0.92 |
Discontinued operations | 0.11 |  |  | (0.02 | ) |  | 0.13 |  |  | — |  |  | — |
Total | $ | 3.13 |  |  | $ | (0.24 | ) |  | $ | 1.29 |  |  | $ | 1.16 |  |  | $ | 0.92 |
Diluted earnings (loss) per share: |  |  |  |  |  |  |  |  |
Continuing operations | $ | 2.99 |  |  | $ | (0.22 | ) |  | $ | 1.15 |  |  | $ | 1.15 |  |  | $ | 0.91 |
Discontinued operations | 0.11 |  |  | (0.02 | ) |  | 0.13 |  |  | — |  |  | — |
Total | $ | 3.10 |  |  | $ | (0.24 | ) |  | $ | 1.28 |  |  | $ | 1.15 |  |  | $ | 0.91 |
Dividends declared per share | 1.7325 |  |  | 0.4800 |  |  | 0.4175 |  |  | 0.4175 |  |  | 0.4175 |
Common stock prices: |  |  |  |  |  |  |  |  |
High | $ | 69.59 |  |  | $ | 66.29 |  |  | $ | 63.18 |  |  | $ | 64.55 |  |  | $ | 69.59 |
Low | 55.18 |  |  | 57.51 |  |  | 55.52 |  |  | 55.18 |  |  | 61.02 |
Close | 59.21 |  |  | 59.21 |  |  | 63.07 |  |  | 55.58 |  |  | 62.47 |
1 | In the fourth quarter of 2015, as result of the 2015 GRC Decision, SCE recorded a $382 million write-down of regulatory assets previously recorded for recovery of deferred income taxes from 2012 – 2014 incremental tax repair deductions.
SCE's quarterly financial data is as follows:
| 2016
(in millions) | Total |  | Fourth |  | Third |  | Second |  | First
Operating revenue | $ | 11,830 |  |  | $ | 2,874 |  |  | $ | 3,752 |  |  | $ | 2,768 |  |  | $ | 2,435 |
Operating income | 2,217 |  |  | 594 |  |  | 721 |  |  | 429 |  |  | 472 |
Net income 1 | 1,499 |  |  | 359 |  |  | 466 |  |  | 349 |  |  | 325 |
Net income available for common stock 1 | 1,376 |  |  | 328 |  |  | 435 |  |  | 318 |  |  | 295 |
Common dividends declared | 701 |  |  | 191 |  |  | 170 |  |  | 170 |  |  | 170 |
1 | SCE adopted an accounting standard related to share-based payments during the fourth quarter of 2016, effective January 1, 2016. See Note 1 for further information. The table above reflects the adoption of this standard on January 1, 2016. Net income, as previously reported, was $466 million for the third quarter of 2016, $346 million for the second quarter of 2016 and $317 million for the first quarter of 2016. Net income available for common stock, as previously reported, was $435 million for the third quarter of 2016, $315 million for the second quarter of 2016 and $287 million for the first quarter of 2016.
| 2015
(in millions) | Total |  | Fourth |  | Third |  | Second |  | First
Operating revenue | $ | 11,485 |  |  | $ | 2,319 |  |  | $ | 3,757 |  |  | $ | 2,901 |  |  | $ | 2,508 |
Operating income | 2,080 |  |  | 366 |  |  | 626 |  |  | 536 |  |  | 550 |
Net income 1 | 1,111 |  |  | (51 | ) |  | 417 |  |  | 412 |  |  | 333 |
Net income available for common stock | 998 |  |  | (80 | ) |  | 389 |  |  | 384 |  |  | 305 |
Common dividends declared | 611 |  |  | 170 |  |  | 147 |  |  | 147 |  |  | 147 |
1 | In the fourth quarter of 2015, as result of the 2015 GRC Decision, SCE recorded a $382 million write-down of regulatory assets previously recorded for recovery of deferred income taxes from 2012 – 2014 incremental tax repair deductions.
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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