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Schedule I - Condensed Financial Information of Parent | 12 Months Ended
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Dec. 31, 2017
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) | 2017 |  | 2016
Assets: |  |  |
Cash and cash equivalents | $ | 524 |  |  | $ | 6 |
Other current assets | 340 |  |  | 261 |
Total current assets | 864 |  |  | 267 |
Investments in subsidiaries | 13,659 |  |  | 13,459 |
Deferred income taxes | 500 |  |  | 646 |
Other long-term assets | 91 |  |  | 108 |
Total assets | $ | 15,114 |  |  | $ | 14,480 |
Liabilities and equity: |  |  |
Short-term debt | $ | 1,139 |  |  | $ | 539 |
Current portion of long-term debt | — |  |  | 400 |
Other current liabilities | 467 |  |  | 484 |
Total current liabilities | 1,606 |  |  | 1,423 |
Long-term debt | 1,193 |  |  | 397 |
Other long-term liabilities | 644 |  |  | 664 |
Total equity | 11,671 |  |  | 11,996 |
Total liabilities and equity | $ | 15,114 |  |  | $ | 14,480 |
EDISON INTERNATIONAL SCHEDULE I – CONDENSED FINANCIAL INFORMATION OF PARENT CONDENSED STATEMENTS OF INCOME For the Years Ended December 31, 2017, 2016 and 2015
(in millions) | 2017 |  | 2016 |  | 2015
Interest income from affiliates | $ | — |  |  | $ | 6 |  |  | $ | 3 |
Operating expenses and interest expense | 92 |  |  | 86 |  |  | 78 |
Loss before equity in earnings of subsidiaries | (92 | ) |  | (80 | ) |  | (75 | )
Equity in earnings of subsidiaries | 739 |  |  | 1,337 |  |  | 1,025 |
Income before income taxes | 647 |  |  | 1,257 |  |  | 950 |
Income tax expense (benefit) | 82 |  |  | (42 | ) |  | (35 | )
Income from continuing operations | 565 |  |  | 1,299 |  |  | 985 |
Income from discontinued operations, net of tax | — |  |  | 12 |  |  | 35 |
Net income | $ | 565 |  |  | $ | 1,311 |  |  | $ | 1,020 |
CONDENSED STATEMENTS OF COMPREHENSIVE INCOME For the Years Ended December 31, 2017, 2016 and 2015
(in millions) | 2017 |  | 2016 |  | 2015
Net income | $ | 565 |  |  | $ | 1,311 |  |  | $ | 1,020 |
Other comprehensive income, net of tax | 10 |  |  | 3 |  |  | 2 |
Comprehensive income | $ | 575 |  |  | $ | 1,314 |  |  | $ | 1,022 |
EDISON INTERNATIONAL SCHEDULE I – CONDENSED FINANCIAL INFORMATION OF PARENT CONDENSED STATEMENTS OF CASH FLOWS For the Years Ended December 31, 2017, 2016 and 2015
(in millions) | 2017 |  | 2016 |  | 2015
Net cash provided by operating activities | $ | 462 |  |  | $ | 493 |  |  | $ | 641 |
Cash flows from financing activities: |  |  |  |  |
Long-term debt issued | 798 |  |  | 400 |  |  | — |
Long-term debt issuance costs | (5 | ) |  | (3 | ) |  | — |
Long-term debt matured | (400 | ) |  | — |  |  | — |
Payable due to affiliates | 8 |  |  | 34 |  |  | 54 |
Short-term debt financing, net | 600 |  |  | (108 | ) |  | 26 |
Payments for stock-based compensation | (260 | ) |  | (95 | ) |  | (114 | )
Receipts for stock-based compensation | 144 |  |  | 51 |  |  | 72 |
Dividends paid | (707 | ) |  | (626 | ) |  | (544 | )
Net cash provided by (used in) financing activities | 178 |  |  | (347 | ) |  | (506 | )
Capital contributions to affiliate | (122 | ) |  | (147 | ) |  | (30 | )
Loans to affiliate | — |  |  | — |  |  | (106 | )
Net cash used in investing activities: | (122 | ) |  | (147 | ) |  | (136 | )
Net increase (decrease) in cash and cash equivalents | 518 |  |  | (1 | ) |  | (1 | )
Cash and cash equivalents, beginning of year | 6 |  |  | 7 |  |  | 8 |
Cash and cash equivalents, end of year | $ | 524 |  |  | $ | 6 |  |  | $ | 7 |
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 $573 million, $701 million and $758 million in 2017, 2016 and 2015, respectively. During the fourth quarter of 2017, SCE declared a dividend to Edison International of $212 million, which was paid on January 31, 2018. Dividend Restrictions The CPUC regulates SCE's capital structure which limits the dividends it may pay Edison International. Under CPUC regulations, SCE may make distributions to Edison International as long as the common equity component of SCE's capital structure remains at or above 48% on a 13-month average basis, or otherwise satisfies the CPUC requirements. If the Revised San Onofre Settlement Agreement is approved by the CPUC, SCE may exclude the $448 million after-tax charge resulting from the implementation of the Revised San Onofre Settlement Agreement from its ratemaking capital structure. At December 31, 2017, without excluding the $448 million after-tax charge, SCE's 13-month average common equity component of total capitalization was 50.0% and the maximum additional dividend that SCE could pay to Edison International under this limitation was approximately $511 million, resulting in a restriction on net assets of approximately $14.2 billion. If the Revised San Onofre Settlement Agreement had been approved by the CPUC at December 31, 2017, the common equity component of SCE's capital structure would have been 50.1% on a 13-month average basis. Note 2. Debt and Credit Agreements Long-Term Debt During the first quarter of 2017, Edison International issued $400 million of 2.125% senior notes due in 2020. The proceeds were used to repay commercial paper borrowings and for general corporate purposes. In August 2017, Edison International issued $400 million of 2.40% senior notes due in 2022. In addition, at December 31, 2017 and 2016, respectively, Edison International Parent had $400 million of 2.95% senior notes due in 2023 and $400 million of 3.75% senior notes, which were paid in September 2017 with the proceeds from the August 2017 issuance as discussed above. Credit Agreements and Short-Term Debt The following table summarizes the status of the credit facility at December 31, 2017:
(in millions) |
Commitment | $ | 1,250 |
Outstanding borrowings | (1,139 | )
Amount available | $ | 111 |
During the second quarter of 2017, Edison International Parent amended the credit facility to extend the maturity date for the $1.25 billion credit facility to July 2022. At December 31, 2017, the outstanding commercial paper, net of discount, was $639 million at a weighted-average interest rate of 1.70%. This commercial paper was supported by the $1.25 billion multi-year revolving credit facility. In December 2017, Edison International Parent borrowed $500 million from the credit facility which had an interest rate of 2.56% on December 31, 2017. In January 2018, Edison International repaid its $500 million borrowings with cash on hand. At December 31, 2016, the outstanding commercial paper, net of discount, was $538 million at a weighted-average interest rate of 0.97%. In January 2018, Edison International Parent borrowed $500 million under a Term Loan Agreement due in January 2019, with a variable interest rate based on the London Interbank Offered Rate plus 60 basis points. The proceeds were used to repay Edison International Parent's commercial paper borrowings discussed above. 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. At December 31, 2017, Edison International's consolidated debt to total capitalization ratio was 0.51 to 1. Note 3. Related-Party Transactions Edison International's Parent expense from services provided by SCE was $3 million annually in 2017, 2016 and 2015. Edison International's Parent interest expense from loans due to affiliates was $5 million in 2017, $3 million in 2016 and $6 million in 2015. Edison International Parent had current related-party receivables of $256 million and $262 million and current related-party payables of $235 million and $221 million at December 31, 2017 and 2016, respectively. During 2017, a related-party note receivable of $184 million was converted into a capital contribution. Edison International Parent had long-term related-party receivables of $81 million and $103 million at December 31, 2017 and 2016, respectively, and long-term related-party payables of $200 million and $243 million at December 31, 2017 and 2016, respectively. Note 4. Contingencies For a discussion of material contingencies see "Notes to Consolidated Financial Statements—Note 7. Income Taxes" and "—Note 11. Commitments and Contingencies."

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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 944 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.7-05(c)(Schedule II)) -URI http://asc.fasb.org/extlink&oid=6879921&loc=d3e569147-122900 Reference 2: 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=96868048&loc=d3e5283-111683 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 235 -Section S99 -Paragraph 2 -Subparagraph (SX 210.9-06) -URI http://asc.fasb.org/extlink&oid=6882215&loc=d3e537971-122884 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(c)(Schedule I)) -URI http://asc.fasb.org/extlink&oid=27047687&loc=d3e5864-122674 Reference 5: 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 + Details
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