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Debt and Credit Agreements | 12 Months Ended
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Dec. 31, 2019
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, 2019) of Edison International and SCE:
| December 31,
(in millions) | 2019 |  | 2018
Edison International Parent and Other: |  |  |
Debentures and notes: |  |  |
2020 – 2028 (2.125% to 5.750%) | $ | 3,150 |  |  | $ | 1,750 |
Current portion of long-term debt | (400 | ) |  | — |
Unamortized debt discount/premium and issuance costs, net | (18 | ) |  | (10 | )
Total Edison International Parent and Other | 2,732 |  |  | 1,740 |
SCE: |  |  |
First and refunding mortgage bonds: |  |  |
2021 – 2049 (1.845% to 6.05%) | 14,272 |  |  | 12,050 |
Pollution-control bonds: |  |  |
2028 – 2035 (1.875% to 5.00%) | 752 |  |  | 752 |
Debentures and notes: |  |  |
2029 – 2053 (5.06% to 6.65%) | 306 |  |  | 306 |
Current portion of long-term debt | (79 | ) |  | (79 | )
Unamortized debt discount/premium and issuance costs, net | (119 | ) |  | (137 | )
Total SCE | 15,132 |  |  | 12,892 |
Total Edison International | $ | 17,864 |  |  | $ | 14,632 |
Edison International and SCE long-term debt maturities over the next five years are as follows:
(in millions) | Edison International |  | SCE
2020 | $ | 479 |  |  | $ | 79 |
2021 | 1,029 |  |  | 1,029 |
2022 | 1,064 |  |  | 364 |
2023 | 1,300 |  |  | 900 |
2024 | 500 |  |  | — |
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 to be less than or equal to 0.65 to 1. At December 31, 2019, SCE was in compliance with this debt covenant and all other financial covenants that affect access to capital. Credit Agreements and Short-Term Debt The following table summarizes the status of the credit facilities at December 31, 2019:
(in millions) | Edison International Parent |  | SCE
Commitment | $ | 1,500 |  |  | $ | 3,000 |
Outstanding borrowings (excluding discount) | — |  |  | (550 | )
Outstanding letters of credit | — |  |  | (152 | )
Amount available | $ | 1,500 |  |  | $ | 2,298 |
In February 2019, SCE borrowed $750 million under a Term Loan Agreement due in February 2020 ("February 2019 SCE Term Loan"), with a variable interest rate based on the London Interbank Offered Rate plus 70 basis points. The proceeds were used to repay SCE's commercial paper borrowings and for general corporate purposes. As noted below, the February 2019 SCE Term Loan was fully repaid in April 2019. In April 2019, Edison International Parent borrowed $1.0 billion under a Term Loan Agreement due in April 2020 ("April 2019 Edison International Parent Term Loan"), with a variable interest rate based on the London Interbank Offered Rate plus 90 basis points. Of the proceeds, $750 million was contributed to SCE and SCE used this contribution to repay the February 2019 SCE Term Loan as discussed above. The remainder of the proceeds were used for general corporate and working capital purposes. The April 2019 Edison International Parent Term Loan was fully repaid in December 2019. In June 2019, SCE and Edison International Parent amended the maturity date of their multi-year revolving credit facilities of $3.0 billion and $1.5 billion, respectively. The facilities now mature in May 2024, with an option to extend for an additional year, which may be exercised upon agreement between SCE or Edison International Parent and their respective lenders. 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, 2019, SCE's commercial paper, net of discount, was $550 million at a weighted average interest rate of 2.24%. At December 31, 2019, letters of credit issued under SCE's credit facility aggregated $152 million and are scheduled to expire in twelve months or less. At December 31, 2018, the outstanding commercial paper, net of discount, was $720 million at a weighted average interest rate of 3.23%. At December 31, 2019 and December 31, 2018, Edison International Parent had no outstanding commercial paper. Debt Financing Subsequent to December 31, 2019 In January 2020, SCE issued $100 million of 2.85% first and refunding mortgage bonds due in 2029 and $500 million of 3.65% first and refunding mortgage bonds due in 2050. The proceeds were primarily used to repay SCE's commercial paper borrowings.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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