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v3.20.4

Debt and Credit Agreements (Tables) | 12 Months Ended
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Dec. 31, 2020
Debt Disclosure [Abstract] |
Long-term Debt | The following table summarizes long-term debt (rates and terms are as of December 31, 2020) of Edison International and SCE:
| December 31,
(in millions) | 2020 |  | 2019
Edison International Parent and Other: |  |  |
Debentures and notes: |  |  |
2022 – 2028 (2.40% to 5.75%) | $ | 3,150 |  |  | $ | 3,150 |
Current portion of long-term debt | — |  |  | (400) |
Unamortized debt discount/premium and issuance costs, net | (17) |  |  | (18) |
Total Edison International Parent and Other | 3,133 |  |  | 2,732 |
SCE: |  |  |
First and refunding mortgage bonds: |  |  |
2022 – 2050 (1.20% to 6.05%) | 16,843 |  |  | 14,272 |
Pollution-control bonds: |  |  |
2023 (2.63%) | 135 |  |  | 752 |
Debentures and notes: |  |  |
2029 – 2053 (5.06% to 6.65%) | 306 |  |  | 306 |
Other long-term debt 1: | 324 |  |  | — |
Current portion of long-term debt | (1,029) |  |  | (79) |
Unamortized debt discount/premium and issuance costs, net | (80) |  |  | (119) |
Total SCE | 16,499 |  |  | 15,132 |
Total Edison International | $ | 19,632 |  |  | $ | 17,864 |
1 Subsequent to December 31, 2020, SCE issued first and refunding mortgage bonds which were used to partially pay down its commercial paper balance, see "Debt Financing Subsequent to December 31, 2020" for more information. Accordingly, SCE included the pay down amount of $324 million in other long-term debt.
Long-term Debt Maturities | Edison International and SCE long-term debt maturities over the next five years are as follows:
(in millions) | Edison International |  | SCE
2021 | $ | 1,029 |  |  | $ | 1,029 |
2022 | 1,064 |  |  | 364 |
2023 | 1,435 |  |  | 1,035 |
2024 | 500 |  |  | — |
2025 | 1,300 |  |  | 900 |
Summary for Status of Credit Facilities | The following table summarizes the status of the credit facilities at December 31, 2020:
(in millions, except for rates)
Execution date | Termination date | LIBOR plus (bps) | Use of proceeds | Commitment | Outstanding borrowings | Outstanding letters of credit | Amount available
Edison International Parent |
June 2019 | May 2024 | 128 |  | Support commercial paper borrowings and general corporate purposes 1, 4 | $ | 1,500 |  | $ | 130 |  | $ | — |  | $ | 1370 |
Total Edison International Parent: | $ | 1,500 |  | $ | 130 |  | $ | — |  | $ | 1,370 |
SCE |
March 2020 | March 2021 | 65 | Finance a portion of the AB 1054 Capital Expenditures 2 | $ | 800 |  | $ | 495 |  | $ | — |  | $ | 305 |
May 2020 | May 2021 | 150 | Undercollections related to COVID-19 and general corporate purposes | 1,500 |  | — |  | — |  | 1,500
June 2019 | May 2024 | 108 |  | Support commercial paper borrowings and general corporate purposes 3, 4 | 3,000 |  | 725 |  | 159 |  | 2,116
Total SCE: | $ | 5,300 |  | $ | 1,220 |  | $ | 159 |  | $ | 3,921 |
Total Edison International: | $ | 6,800 |  | $ | 1,350 |  | $ | 159 |  | $ | 5,291 |
1 At December 31, 2020 Edison International Parent had $130 million outstanding commercial paper, net of discount, at a weighted-average interest rate of 0.42%. At December 31, 2019 Edison International Parent did not have any outstanding commercial paper. 2 This credit facility may be extended for two 364-day periods, at the lenders' discretion. The aggregate maximum principal amount may be increased up to $1.1 billion provided that additional lender commitments are obtained. 3 At December 31, 2020 and December 31, 2019, SCE had $725 million and $550 million outstanding commercial paper, net of discount, at a weighted-average interest rate of 0.43% and 2.24%, respectively. As of December 31, 2020, $324 million outstanding commercial paper was classified as long-term debt due to subsequent refinancing. See "Debt Financing Subsequent to December 31, 2020" for more information. 4 The aggregate maximum principal amount under the SCE and Edison International Parent revolving credit facilities may be increased up to $4.0 billion and $2.0 billion, respectively, provided that additional lender commitments are obtained. The following table summarizes the status of the credit facility at December 31, 2020:
(in millions) |
Commitment | $ | 1,500 |
Outstanding borrowings 1 | 130 |
Amount available | $ | 1,370 |
1 At December 31, 2020 Edison International Parent had $130 million outstanding commercial paper, net of discount, at a weighted-average interest rate of 0.42%. At December 31, 2019 Edison International Parent did not have any outstanding commercial paper.
Schedule of Short-term Debt | The following table summarizes the status of SCE's term loan and other short-term debt as of December 31, 2020:
(in millions, except for rates)
Issuance Date | Maturity | LIBOR plus (bps) | Use of Proceeds | Issuance Amount
Term loan |
March 2020 | March 2021 | 60 | Fund a portion of the AB 1054 Excluded Capital Expenditures | $ | 475 |
Floating rate first and refunding mortgage bonds |
December 2020 | December 2021 | 27 | Partial repayment of AB 1054 credit facility and commercial paper borrowings and for general corporate purposes | 900 |

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