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Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2021
Summary of Significant Accounting Policies |
Cash Equivalents |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Edison International | ​ | SCE
​ | ​ | December 31,
(in millions) | ​ | 2021 |  | 2020 |  | 2021 |  | 2020
Money market funds | ​ | $ | 329 | ​ | $ | 62 | ​ | $ | 230 | ​ | $ | 38
Cash is temporarily invested until required for check clearing. Checks issued, but not yet paid by the financial institution, are reclassified from cash to accounts payable at the end of each reporting period.
Cash, Cash Equivalents and Restricted Cash | The following table sets forth the cash, cash equivalents and restricted cash included in the consolidated statements of cash flows:
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, |  | December 31,
(in millions) |  | 2021 |  | 2020
Edison International: | ​ |  | ​ | ​ |  | ​
Cash and cash equivalents | ​ | $ | 390 | ​ | $ | 87
Short-term restricted cash1 | ​ |  | 4 | ​ |  | 2
Total cash, cash equivalents and restricted cash | ​ | $ | 394 | ​ | $ | 89
SCE: | ​ |  | ​ | ​ |  |
Cash and cash equivalents | ​ | $ | 279 | ​ | $ | 55
Short-term restricted cash1 | ​ |  | 1 | ​ |  | 1
Total cash, cash equivalents and restricted cash | ​ | $ | 280 | ​ | $ | 56
1 | Reflected in "Other current assets" on Edison International's and SCE's consolidated balance sheets.
Changes in Allowance for Uncollectible Accounts | The following table sets forth the changes in allowance for uncollectible accounts for SCE:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​
​ | ​ | Year ended December 31, 2021 | ​ | Year ended December 31, 2020
(in millions) | ​ | Customers | ​ | ​ | All others | ​ | ​ | Total | ​ | Customers | ​ | ​ | All others | ​ | ​ | Total
Beginning balance |  | $ | 175 |  | $ | 13 | ​ | $ | 188 | ​ | $ | 35 |  | $ | 14 | ​ | $ | 49
Plus: current period provision for uncollectible accounts | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Included in operation and maintenance expenses in earning activities1 | ​ |  | 33 | ​ |  | 11 | ​ |  | 44 | ​ |  | 36 | ​ |  | 9 | ​ |  | 45
Included in operation and maintenance expenses in cost-recovery activities2 | ​ | ​ | 74 | ​ | ​ | — | ​ | ​ | 74 | ​ | ​ | 15 | ​ | ​ | — | ​ | ​ | 15
Deferred to regulatory memorandum accounts | ​ |  | 17 | ​ |  | — | ​ |  | 17 | ​ |  | 105 | ​ |  | — | ​ |  | 105
Less: write-offs, net of recoveries | ​ |  | 6 | ​ |  | 8 | ​ |  | 14 | ​ |  | 16 | ​ |  | 10 | ​ |  | 26
Ending balance |  | $ | 293 |  | $ | 16 | ​ | $ | 309 | ³ | $ | 175 |  | $ | 13 | ​ | $ | 188
1 | Earning activities is one of SCE's disaggregated revenue sources. See Note 7 for further details.
2 | Cost-recovery activities is one of SCE's disaggregated revenue sources. See Note 7 for further details. This portion of costs from the allowance for uncollectible expenses is recovered through the residential uncollectibles balancing account.
3 | In June 2021, CPUC issued a decision to allow residential and small business customers of the large investor-owned utilities with arrearages over 60 days old to be enrolled in 24-month payment plans. Accordingly, approximately $238 million of gross account receivables and $116 million of allowance for uncollectible accounts have been reclassified to "Long-term account receivables" on Edison International's and SCE's consolidated balance sheets as of December 31, 2021.
Property, plant and equipment useful lives | Estimated useful lives authorized by the CPUC in the 2021 General Rate Case ("GRC") and weighted average useful lives of SCE's property, plant and equipment, are as follows:
​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ | Weighted Average
​ |  | Estimated Useful Lives |  | Useful Lives
Generation plant | ​ | 10 years to 55 years | ​ | 36 years
Distribution plant |  | 20 years to 67 years | ​ | 50 years
Transmission plant |  | 45 years to 65 years | ​ | 54 years
General plant and other |  | 5 years to 60 years | ​ | 26 years
Reconciliation of the Changes in ARO Liability | The following table summarizes the changes in SCE's ARO liability:
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | December 31,
(in millions) |  | 2021 |  | 2020
Beginning balance | ​ | $ | 2,930 | ​ | $ | 3,029
Accretion1 | ​ |  | 157 | ​ |  | 160
Revisions | ​ |  | (77) | ​ |  | (36)
Liabilities settled | ​ |  | (238) | ​ |  | (223)
Ending balance | ​ | $ | 2,772 | ​ | $ | 2,930
1 | An ARO represents the present value of a future obligation. Accretion is an increase in the liability to account for the time value of money resulting from discounting.
Amortization of Deferred Financing Costs | Amortization of deferred financing costs charged to interest expense is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Edison International |  | SCE
​ | ​ | Years ended December 31,
(in millions) |  | 2021 |  | 2020 |  | 2019 |  | 2021 |  | 2020 |  | 2019
Amortization of deferred financing costs charged to interest expense | ​ | $ | 34 | ​ | $ | 32 | ​ | $ | 30 | ​ | $ | 29 | ​ | $ | 27 | ​ | $ | 26
EPS Attributable to Edison International Common Shareholders | EPS attributable to Edison International common shareholders was computed as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Years ended December 31,
(in millions, except per-share amounts) |  | 2021 |  | 2020 |  | 2019
Basic earnings per share: | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | ​
Net income attributable to common shareholders | ​ | $ | 759 | ​ | $ | 739 | ​ | $ | 1,284
Net income available to common shareholders | ​ | $ | 759 | ​ | $ | 739 | ​ | $ | 1,284
Weighted average common shares outstanding | ​ | ​ | 380 | ​ | ​ | 373 | ​ | ​ | 340
Basic earnings per share | ​ | $ | 2.00 | ​ | $ | 1.98 | ​ | $ | 3.78
Diluted earnings per share: | ​ | ​ | ​ | ​ | ​ |  | ​ | ​ |
Net income attributable to common shareholders | ​ | $ | 759 | ​ | $ | 739 | ​ | $ | 1,284
Net income available to common shareholders | ​ | $ | 759 | ​ | $ | 739 | ​ | $ | 1,284
Income impact of assumed conversions | ​ | ​ | 1 | ​ | ​ | — | ​ | ​ | —
Net income available to common shareholders and assumed conversions | ​ | $ | 760 | ​ | $ | 739 | ​ | $ | 1,284
Weighted average common shares outstanding | ​ | ​ | 380 | ​ | ​ | 373 | ​ | ​ | 340
Incremental shares from assumed conversions | ​ | ​ | — | ​ | ​ | 1 | ​ | ​ | 1
Adjusted weighted average shares – diluted | ​ | ​ | 380 | ​ | ​ | 374 | ​ | ​ | 341
Diluted earnings per share | ​ | $ | 2.00 | ​ | $ | 1.98 | ​ | $ | 3.77

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