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Equity | 9 Months Ended
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Sep. 30, 2020
Equity [Abstract] |
Equity | Consolidated Statements of Changes in Equity The following table provides Edison International's changes in equity for the nine months ended September 30, 2020:
| Equity Attributable to Common Shareholders |  |  |  |  |  |  |  |  |  | Noncontrolling Interests |  |
(in millions, except per share amounts) | Common Stock |  | Accumulated Other Comprehensive Loss |  | Retained Earnings |  | Subtotal |  |  |  | Preferred and Preference Stock |  | Total Equity
Balance at December 31, 2019 | $ | 4,990 |  |  | $ | (69) |  |  | $ | 8,382 |  |  | $ | 13,303 |  |  |  |  | $ | 2,193 |  |  | $ | 15,496 |
Net income | — |  |  | — |  |  | 183 |  |  | 183 |  |  |  |  | 30 |  |  | 213 |
Other comprehensive income | — |  |  | 2 |  |  | — |  |  | 2 |  |  |  |  | — |  |  | 2 |
Common stock issued, net of issuance cost | 88 |  |  | — |  |  | — |  |  | 88 |  |  |  |  | — |  |  | 88 |
Common stock dividends declared ($0.6375 per share) | — |  |  | — |  |  | (232) |  |  | (232) |  |  |  |  | — |  |  | (232) |
Dividends to noncontrolling interests ($0.255 - $0.299 per share for preferred stock; $15.625 - $35.936 per share for preference stock) | — |  |  | — |  |  | — |  |  | — |  |  |  |  | (30) |  |  | (30) |
Noncash stock-based compensation | 7 |  |  | — |  |  | — |  |  | 7 |  |  |  |  | — |  |  | 7 |
Balance at March 31, 2020 | $ | 5,085 |  |  | $ | (67) |  |  | $ | 8,333 |  |  | $ | 13,351 |  |  |  |  | $ | 2,193 |  |  | $ | 15,544 |
Net income | — |  |  | — |  |  | 318 |  |  | 318 |  |  |  |  | 30 |  |  | 348 |
Other comprehensive income | — |  |  | 2 |  |  | — |  |  | 2 |  |  |  |  | — |  |  | 2 |
Common stock issued, net of issuance cost | 815 |  |  | — |  |  | — |  |  | 815 |  |  |  |  | — |  |  | 815 |
Common stock dividends declared ($0.6375 per share) | — |  |  | — |  |  | (241) |  |  | (241) |  |  |  |  | — |  |  | (241) |
Dividends to noncontrolling interests ($0.255 - $0.299 per share for preferred stock; $15.625 - $35.936 per share for preference stock) | — |  |  | — |  |  | — |  |  | — |  |  |  |  | (30) |  |  | (30) |
Noncash stock-based compensation | 8 |  |  | — |  |  | — |  |  | 8 |  |  |  |  | — |  |  | 8 |
Balance at June 30, 2020 | $ | 5,908 |  |  | $ | (65) |  |  | $ | 8,410 |  |  | $ | 14,253 |  |  |  |  | $ | 2,193 |  |  | $ | 16,446 |
Net loss | — |  |  | — |  |  | (288) |  |  | (288) |  |  |  |  | 46 |  |  | (242) |
Other comprehensive income | — |  |  | 2 |  |  | — |  |  | 2 |  |  |  |  | — |  |  | 2 |
Common stock issued, net of issuance cost (Note 14) | 15 |  |  | — |  |  | — |  |  | 15 |  |  |  |  | — |  |  | 15 |
Common stock dividends declared ($0.6375 per share) | — |  |  | — |  |  | (241) |  |  | (241) |  |  |  |  | — |  |  | (241) |
Dividends to noncontrolling interests ($0.247 - $0.289 per share for preferred stock; $15.625 - $35.936 per share for preference stock) | — |  |  | — |  |  | — |  |  | — |  |  |  |  | (31) |  |  | (31) |
Noncash stock-based compensation and other | 7 |  |  | — |  |  | — |  |  | 7 |  |  |  |  | 1 |  |  | 8 |
Redemption of preferred and preference stock | — |  |  | — |  |  | — |  |  | — |  |  |  |  | (308) |  |  | (308) |
Balance at September 30, 2020 | $ | 5,930 |  |  | $ | (63) |  |  | $ | 7,881 |  |  | $ | 13,748 |  |  |  |  | $ | 1,901 |  |  | $ | 15,649 |
The following table provides Edison International's changes in equity for the nine months ended September 30, 2019:
| Equity Attributable to Common Shareholders |  |  |  |  |  |  |  |  |  | Noncontrolling Interests |  |
(in millions, except per share amounts) | Common Stock |  | Accumulated Other Comprehensive Loss |  | Retained Earnings |  | Subtotal |  |  |  | Preferred and Preference Stock |  | Total Equity
Balance at December 31, 2018 | $ | 2,545 |  |  | $ | (50) |  |  | $ | 7,964 |  |  | $ | 10,459 |  |  |  |  | $ | 2,193 |  |  | $ | 12,652 |
Net income | — |  |  | — |  |  | 278 |  |  | 278 |  |  |  |  | 30 |  |  | 308 |
Other comprehensive income | — |  |  | 2 |  |  | — |  |  | 2 |  |  |  |  | — |  |  | 2 |
Cumulative effect of accounting changes1 | — |  |  | (10) |  |  | 10 |  |  | — |  |  |  |  | — |  |  | — |
Common stock dividends declared ($0.6125 per share) | — |  |  | — |  |  | (200) |  |  | (200) |  |  |  |  | — |  |  | (200) |
Dividends to noncontrolling interests ($0.255 - $0.299 per share for preferred stock; $15.625 - $35.936 per share for preference stock) | — |  |  | — |  |  | — |  |  | — |  |  |  |  | (30) |  |  | (30) |
Stock-based compensation | — |  |  | — |  |  | (18) |  |  | (18) |  |  |  |  | — |  |  | (18) |
Noncash stock-based compensation | 5 |  |  | — |  |  | — |  |  | 5 |  |  |  |  | — |  |  | 5 |
Balance at March 31, 2019 | $ | 2,550 |  |  | $ | (58) |  |  | $ | 8,034 |  |  | $ | 10,526 |  |  |  |  | $ | 2,193 |  |  | $ | 12,719 |
Net income | — |  |  | — |  |  | 392 |  |  | 392 |  |  |  |  | 30 |  |  | 422 |
Other comprehensive income | — |  |  | 1 |  |  | — |  |  | 1 |  |  |  |  | — |  |  | 1 |
Common stock dividends declared ($0.6125 per share) | — |  |  | — |  |  | (200) |  |  | (200) |  |  |  |  | — |  |  | (200) |
Dividends to noncontrolling interests ($0.255 - $0.299 per share for preferred stock; $15.625 - $35.936 per share for preference stock) | — |  |  | — |  |  | — |  |  | — |  |  |  |  | (30) |  |  | (30) |
Stock-based compensation | — |  |  | — |  |  | (4) |  |  | (4) |  |  |  |  | — |  |  | (4) |
Noncash stock-based compensation | 5 |  |  | — |  |  | — |  |  | 5 |  |  |  |  | — |  |  | 5 |
Balance at June 30, 2019 | $ | 2,555 |  |  | $ | (57) |  |  | $ | 8,222 |  |  | $ | 10,720 |  |  |  |  | $ | 2,193 |  |  | $ | 12,913 |
Net income | — |  |  | — |  |  | 471 |  |  | 471 |  |  |  |  | 31 |  |  | 502 |
Other comprehensive income | — |  |  | 2 |  |  | — |  |  | 2 |  |  |  |  | — |  |  | 2 |
Common stock issued, net of issuance cost | 2,185 |  |  | — |  |  | — |  |  | 2,185 |  |  |  |  | — |  |  | 2,185 |
Common stock dividends declared ($0.6125 per share) | — |  |  | — |  |  | (219) |  |  | (219) |  |  |  |  | — |  |  | (219) |
Dividends to noncontrolling interests ($0.255 - $0.299 per share for preferred stock; $15.625 - $35.936 per share for preference stock) | — |  |  | — |  |  | — |  |  | — |  |  |  |  | (31) |  |  | (31) |
Stock-based compensation | — |  |  | — |  |  | (5) |  |  | (5) |  |  |  |  | — |  |  | (5) |
Noncash stock-based compensation | 6 |  |  | — |  |  | — |  |  | 6 |  |  |  |  | — |  |  | 6 |
Balance at September 30, 2019 | $ | 4,746 |  |  | $ | (55) |  |  | $ | 8,469 |  |  | $ | 13,160 |  |  |  |  | $ | 2,193 |  |  | $ | 15,353 |
1 Edison International recognized a cumulative effect adjustment to the opening balance of retained earnings and accumulated other comprehensive loss on January 1, 2019 related to the adoption of the accounting standards update on the reclassification of stranded tax effects resulting from Tax Cuts and Jobs Act ("Tax Reform.") The following table provides SCE's changes in equity for the nine months ended September 30, 2020:
(in millions, except per share amounts) | Preferred and Preference Stock |  | Common Stock |  | Additional Paid-in Capital |  | Accumulated Other Comprehensive Loss |  | Retained Earnings |  | Total Equity
Balance at December 31, 2019 | $ | 2,245 |  |  | $ | 2,168 |  |  | $ | 3,939 |  |  | $ | (39) |  |  | $ | 9,514 |  |  | $ | 17,827 |
Net income | — |  |  | — |  |  | — |  |  | — |  |  | 249 |  |  | 249 |
Other comprehensive income | — |  |  | — |  |  | — |  |  | 2 |  |  | — |  |  | 2 |
Capital contribution from Edison International Parent | — |  |  | — |  |  | 269 |  |  | — |  |  | — |  |  | 269 |
Dividends declared on common stock ($0.6185 per share) | — |  |  | — |  |  | — |  |  | — |  |  | (269) |  |  | (269) |
Dividends declared on preferred stock ($0.255 - $0.299 per share) and preference stock ($15.625 - $35.936 per share) | — |  |  | — |  |  | — |  |  | — |  |  | (30) |  |  | (30) |
Stock-based compensation | — |  |  | — |  |  | (5) |  |  | — |  |  | — |  |  | (5) |
Noncash stock-based compensation | — |  |  | — |  |  | 4 |  |  | — |  |  | (1) |  |  | 3 |
Balance at March 31, 2020 | $ | 2,245 |  |  | $ | 2,168 |  |  | $ | 4,207 |  |  | $ | (37) |  |  | $ | 9,463 |  |  | $ | 18,046 |
Net income | — |  |  | — |  |  | — |  |  | — |  |  | 411 |  |  | 411 |
Other comprehensive income | — |  |  | — |  |  | — |  |  | 1 |  |  | — |  |  | 1 |
Capital contribution from Edison International Parent | — |  |  | — |  |  | 619 |  |  | — |  |  | — |  |  | 619 |
Dividends declared on common stock ($0.6185 per share) | — |  |  | — |  |  | — |  |  | — |  |  | (269) |  |  | (269) |
Dividends declared on preferred stock ($0.255 - $0.299 per share) and preference stock ($15.625 - $35.936 per share) | — |  |  | — |  |  | — |  |  | — |  |  | (30) |  |  | (30) |
Noncash stock-based compensation | — |  |  | — |  |  | 3 |  |  | — |  |  | — |  |  | 3 |
Balance at June 30, 2020 | $ | 2,245 |  |  | $ | 2,168 |  |  | $ | 4,829 |  |  | $ | (36) |  |  | $ | 9,575 |  |  | $ | 18,781 |
Net loss | — |  |  | — |  |  | — |  |  | — |  |  | (218) |  |  | (218) |
Other comprehensive income | — |  |  | — |  |  | — |  |  | 1 |  |  | — |  |  | 1 |
Capital contribution from Edison International Parent | — |  |  | — |  |  | 219 |  |  | — |  |  | — |  |  | 219 |
Dividends declared on common stock ($0.6185 per share) | — |  |  | — |  |  | — |  |  | — |  |  | (269) |  |  | (269) |
Dividends declared on preferred stock ($0.247 - $0.289 per share) and preference stock ($15.625 - $35.936 per share) | — |  |  | — |  |  | — |  |  | — |  |  | (31) |  |  | (31) |
Noncash stock-based compensation and other | — |  |  | — |  |  | 3 |  |  | — |  |  | 1 |  |  | 4 |
Redemption of preferred and preference stock | $ | (300) |  |  | $ | — |  |  | $ | 7 |  |  | $ | — |  |  | $ | (15) |  |  | (308) |
Balance at September 30, 2020 | $ | 1,945 |  |  | $ | 2,168 |  |  | $ | 5058 |  |  | $ | (35) |  |  | $ | 9,043 |  |  | $ | 18,179 |
The following table provides SCE's changes in equity for the nine months ended September 30, 2019:
(in millions, except per share amounts) | Preferred and Preference Stock |  | Common Stock |  | Additional Paid-in Capital |  | Accumulated Other Comprehensive Loss |  | Retained Earnings |  |  |  | Total Equity
Balance at December 31, 2018 | $ | 2,245 |  |  | $ | 2,168 |  |  | $ | 680 |  |  | $ | (23) |  |  | $ | 8,715 |  |  |  |  | $ | 13,785 |
Net income | — |  |  | — |  |  | — |  |  | — |  |  | 323 |  |  |  |  | 323 |
Other comprehensive income | — |  |  | — |  |  | — |  |  | 1 |  |  | — |  |  |  |  | 1 |
Cumulative effect of accounting change1 |  |  |  |  |  |  | (5) |  |  | 5 |  |  |  |  | — |
Dividends declared on common stock ($0.4599 per share) | — |  |  | — |  |  | — |  |  | — |  |  | (200) |  |  |  |  | (200) |
Dividends declared on preferred stock ($0.255 - $0.299 per share) and preference stock (15.625 - $35.936 per share) | — |  |  | — |  |  | — |  |  | — |  |  | (30) |  |  |  |  | (30) |
Stock-based compensation | — |  |  | — |  |  | — |  |  | — |  |  | (12) |  |  |  |  | (12) |
Noncash stock-based compensation | — |  |  | — |  |  | 3 |  |  | — |  |  | — |  |  |  |  | 3 |
Balance at March 31, 2019 | $ | 2,245 |  |  | $ | 2,168 |  |  | $ | 683 |  |  | $ | (27) |  |  | $ | 8,801 |  |  |  |  | $ | 13,870 |
Net income | — |  |  | — |  |  | — |  |  | — |  |  | 449 |  |  |  |  | 449 |
Other comprehensive income | — |  |  | — |  |  | — |  |  | 1 |  |  | — |  |  |  |  | 1 |
Capital contribution from Edison International Parent | — |  |  | — |  |  | 1,200 |  |  | — |  |  | — |  |  |  |  | 1,200 |
Dividends declared on preferred and preference stock ($0.255 - $0.299 per share for preferred stock; $15.625 - $35.936 per share for preference stock) | — |  |  | — |  |  | — |  |  | — |  |  | (30) |  |  |  |  | (30) |
Stock-based compensation | — |  |  | — |  |  | — |  |  | — |  |  | (1) |  |  |  |  | (1) |
Noncash stock-based compensation | — |  |  | — |  |  | 3 |  |  | — |  |  | — |  |  |  |  | 3 |
Balance at June 30, 2019 | $ | 2,245 |  |  | $ | 2,168 |  |  | $ | 1,886 |  |  | $ | (26) |  |  | $ | 9,219 |  |  |  |  | $ | 15,492 |
Net income | — |  |  | — |  |  | — |  |  | — |  |  | 534 |  |  |  |  | 534 |
Other comprehensive income | — |  |  | — |  |  | — |  |  | 1 |  |  | — |  |  |  |  | 1 |
Capital contribution from Edison International Parent | — |  |  | — |  |  | 1,850 |  |  | — |  |  | — |  |  |  |  | 1,850 |
Dividends declared on common stock ($0.4599 per share) | — |  |  | — |  |  | — |  |  | — |  |  | (200) |  |  |  |  | (200) |
Dividends declared on preferred and preference stock ($0.255 - $0.299 per share for preferred stock; $15.625 - $35.936 per share for preference stock) | — |  |  | — |  |  | — |  |  | — |  |  | (31) |  |  |  |  | (31) |
Stock-based compensation | — |  |  | — |  |  | (2) |  |  | — |  |  | (2) |  |  |  |  | (4) |
Noncash stock-based compensation | — |  |  | — |  |  | 3 |  |  | — |  |  | — |  |  |  |  | 3 |
Balance at September 30, 2019 | $ | 2,245 |  |  | $ | 2,168 |  |  | $ | 3,737 |  |  | $ | (25) |  |  | $ | 9,520 |  |  |  |  | $ | 17,645 |
1 SCE recognized a cumulative effect adjustment to the opening balance of retained earnings and accumulated other comprehensive loss on January 1, 2019 related to the adoption of the accounting standards update on the reclassification of stranded tax effects resulting from Tax Reform. Equity In May 2020, Edison International issued 14,181,882 shares of common stock in a registered direct offering and received approximately $800 million in proceeds, before deducting fees and offering expenses of $14 million. The proceeds were used to pay off debt outstanding under a term loan agreement and for general corporate purposes. Refer to Note 5 for details of the term loan. In May 2019, Edison International filed a prospectus supplement and executed several distribution agreements with certain sales agents to establish an "at-the-market" ("ATM") program under which it may sell shares of its common stock having an aggregate sales price of up to $1.5 billion. During the three months ended September 30, 2020, Edison International did not issue any shares through the ATM program. During the nine months ended September 30, 2020, Edison International issued 391,501 shares through the ATM program and received proceeds of $27 million, net of fees and offering expenses of $0.3 million. The proceeds from the sales were used for equity contributions to SCE and for general corporate and working capital purposes. As of September 30, 2020, shares of common stock having an aggregate offering price of $1.3 billion remained available to be sold under the ATM program. Edison International has no obligation to sell the remaining available shares. Edison International continued to settle its ongoing common stock requirements of various internal programs through issuance of new common stock. During the three and nine months ended September 30, 2020, 206,900 and 1,378,700 shares of common stock were purchased by employees through the 401(k) defined contribution savings plan for net cash receipts of $11 million and $83 million, 4,749 and 338,442 shares of common stock were issued as stock compensation awards for net cash receipts of $1 million and $14 million and 77,250 and 206,269 shares of new common stock were issued in lieu of distributing $4 million and $13 million to shareholders opting to receive dividend payments in the form of additional common stock, respectively. In the three and nine months ended September 30, 2020, SCE received a total of $219 million and $1.1 billion in capital contributions, respectively, from Edison International Parent to support SCE's capital program, maintain the equity portion of SCE's capital structure at authorized levels and for general corporate purposes. During third quarter of 2020, SCE redeemed $120 million of cumulative preferred stock consisting of all of the outstanding shares of the 4.32% Series, 4.08% Series, 4.24% Series, and the 4.78% Series at a price of $28.75, $25.50, $25.80 and $25.80, respectively. SCE also redeemed $180 million of the outstanding shares of the Series G Preference Stock. SCE recorded a $15 million loss on the redemption of the preferred and preference stock.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)(1)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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