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Equity | 12 Months Ended
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Dec. 31, 2020
Stockholders' Equity Note [Abstract] |
Equity | Equity Common Stock Issuances 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 December 31, 2020, Edison International did not issue any shares through the ATM program. During the twelve months ended December 31, 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. During the three and twelve months ended December 31, 2019, Edison International issued 2,824,261 shares through the ATM program and received proceeds of $198 million, net of fees and offering expenses of $2 million. The proceeds from the sales were used for equity contributions to SCE and for general corporate and working capital purposes. As of December 31, 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 twelve months ended December 31, 2020, 1,644,500 shares of common stock were purchased by employees through the 401(k) defined contribution savings plan for net cash receipts of $99 million, 387,425 shares of common stock were issued as stock compensation awards for net cash receipts of $16 million, 280,707 shares of new common stock were issued in lieu of distributing $17 million to shareholders opting to receive dividend payments in the form of additional common stock and 35,999 shares of common stock related to optional cash investments of $2 million. During the twelve months ended December 31, 2019, 595,200 shares of common stock were purchased by employees through the 401(k) defined contribution savings plan for net cash receipts of $41 million, 423,569 shares of common stock were issued as stock compensation awards for net cash receipts of $22 million and 125,481 shares of new common stock were issued in lieu of distributing $8 million to shareholders opting to receive dividend payments in the form of additional common stock. Edison International did not have optional cash investment issuances in December 31, 2019. Equity Contributions In 2020, Edison International Parent made the following equity contributions to SCE:
Date of contribution | Amounts (in millions)
February 28, 2020 | $ | 269 |
April 29, 2020 | 200
May 26, 2020 | 319
June 30, 2020 | 100
August 31, 2020 | 219
December 18, 2020 | 325
Total | $ | 1,432 |
The proceeds from the Edison International Parent equity contributions in 2020 were used to support SCE's capital program, maintain the equity portion of SCE's capital structure at authorized levels and for general corporate purposes. Preferred and Preference Stock of Utility SCE's authorized shares are: $100 cumulative preferred – 12 million shares, $25 cumulative preferred – 24 million shares and preference with no par value – 50 million shares. There are no dividends in arrears for the preferred or preference shares. During the 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 recorded a $9 million loss on the redemption of the preferred stock as an adjustment to net income available to common stockholders. No preferred shares were issued or redeemed in the years ended December 31, 2019 and 2018. There is no sinking fund requirement for redemptions or repurchases of preferred shares. Shares of SCE's preference stock rank senior to all common stock. Shares of SCE's preference stock are not convertible into shares of any other class or series of SCE's capital stock or any other security. SCE's outstanding preference shares are not subject to mandatory redemption and there is no sinking fund requirement for redemptions or repurchases of preference shares. Preferred stock and preference stock are:
| Shares Outstanding |  | Redemption Price |  | Dividends Declared per Share |  | December 31,
(in millions, except shares and per share amounts) |  |  |  | 2020 |  | 2019
Cumulative preferred stock |  |  |  |  |  |  |  |  |
$25 par value: |  |  |  |  |  |  |  |  |
4.08% Series | — |  |  | $ | 25.50 |  |  | $ | 0.757 |  |  | $ | — |  |  | $ | 16 |
4.24% Series | — |  |  | 25.80 |  |  | 0.786 |  |  | — |  |  | 30 |
4.32% Series | — |  |  | 28.75 |  |  | 0.801 |  |  | — |  |  | 41 |
4.78% Series | — |  |  | 25.80 |  |  | 0.886 |  |  | — |  |  | 33 |
Preference stock |  |  |  |  |  |  |  |  |
No par value: |  |  |  |  |  |  |  |  |
6.25% Series E (cumulative) | 350,000 |  |  | 1,000.00 |  |  | 62.500 |  |  | 350 |  |  | 350 |
5.10% Series G (cumulative) | 88,004 |  |  | 2,500.00 |  |  | 127.500 |  |  | 220 |  |  | 400 |
5.75% Series H (cumulative) | 110,004 |  |  | 2,500.00 |  |  | 143.750 |  |  | 275 |  |  | 275 |
5.375% Series J (cumulative) | 130,004 |  |  | 2,500.00 |  |  | 134.375 |  |  | 325 |  |  | 325 |
5.45% Series K (cumulative) | 120,004 |  |  | 2,500.00 |  |  | 136.250 |  |  | 300 |  |  | 300 |
5.00% Series L (cumulative) | 190,004 |  |  | 2,500.00 |  |  | 125.000 |  |  | 475 |  |  | 475 |
SCE's preferred and preference stock |  |  |  |  |  |  | 1,945 |  |  | 2,245 |
Less issuance costs |  |  |  |  |  |  | (44) |  |  | (52) |
Edison International's preferred and preference stock of utility |  |  |  |  |  |  | $ | 1,901 |  |  | $ | 2,193 |
Shares of Series E preference stock issued in 2012 may be redeemed at par, in whole or in part, on or after February 1, 2022. Shares of Series G, H, J, K and L preference stock, issued in 2013, 2014, 2015, 2016 and 2017, respectively, may be redeemed at par, in whole, but not in part, at any time prior to March 15, 2018, March 15, 2024, September 15, 2025, March 15, 2026 and June 26, 2022, respectively, if certain changes in tax or investment company law or interpretation (or applicable rating agency equity credit criteria for Series L only) occur and certain other conditions are satisfied. On or after March 15, 2018, March 15, 2024, September 15, 2025, March 15, 2026 and June 26, 2022, SCE may redeem the Series G, H, J, K and L shares, respectively, at par, in whole or in part. For shares of Series H, J and K preference stock, distributions will accrue and be payable at a floating rate from and including March 15, 2024, September 15, 2025 and March 15, 2026, respectively. Shares of Series G, H, J, K and L preference stock were issued to SCE Trust II, SCE Trust III, SCE Trust IV, SCE Trust V and SCE Trust VI, respectively, special purpose entities formed to issue trust securities as discussed in Note 3. During the third quarter of 2020, SCE redeemed $180 million of the outstanding shares of the Series G preference stock. SCE recorded a $6 million loss on the redemption of the preference stock as an adjustment to net income available to common stockholders. No preference shares were issued or redeemed in the years ended December 31, 2019 and 2018.

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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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