XML 40 R29.htm IDEA: XBRL DOCUMENT
v3.22.1

Fair Value Measurements (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2022
Fair Value Measurements |
Fair Value by Level within the Fair Value Hierarchy | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | March 31, 2022
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Netting | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | and | ​ | ​ |
(in millions) |  | Level 1 |  | Level 2 |  | Level 3 |  | Collateral1 |  | Total
Assets at fair value | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Derivative contracts | ​ | $ | — | ​ | $ | 57 | ​ | $ | 43 | ​ | $ | (37) | ​ | $ | 63
Money market funds and other | ​ |  | 63 | ​ | ​ | 22 | ​ |  | — | ​ |  | — |  | ​ | 85
Nuclear decommissioning trusts: | ​ |  | ​ | ​ |  | ​ | ​ |  |  | ​ |  |  |  | ​ | ​
Stocks2 | ​ |  | 1,879 | ​ |  | — | ​ |  | — | ​ |  | — |  | ​ | 1,879
Fixed Income3 | ​ |  | 977 | ​ |  | 1,528 | ​ |  | — | ​ |  | — |  | ​ | 2,505
Short-term investments, primarily cash equivalents | ​ |  | 81 | ​ |  | 84 | ​ |  | — | ​ |  | — |  | ​ | 165
Subtotal of nuclear decommissioning trusts4 | ​ |  | 2,937 | ​ |  | 1,612 | ​ |  | — | ​ |  | — |  | ​ | 4,549
Total assets | ​ |  | 3,000 | ​ |  | 1,691 | ​ |  | 43 | ​ |  | (37) |  | ​ | 4,697
Liabilities at fair value | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  |  | ​ |
Derivative contracts | ​ |  | — | ​ |  | 14 | ​ |  | 4 | ​ |  | (18) |  | ​ | —
Total liabilities | ​ |  | — | ​ |  | 14 | ​ |  | 4 | ​ |  | (18) |  | ​ | —
Net assets | ​ | $ | 3,000 | ​ | $ | 1,677 | ​ | $ | 39 | ​ | $ | (19) | ​ | $ | 4,697
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | December 31, 2021
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Netting | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | and | ​ | ​ |
(in millions) |  | Level 1 |  | Level 2 |  | Level 3 |  | Collateral1 |  | ​ | Total
Assets at fair value | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Derivative contracts | ​ | $ | — | ​ | $ | 26 | ​ | $ | 49 | ​ | $ | (31) | ​ | $ | 44
Money market funds and other | ​ |  | 230 | ​ |  | 23 | ​ |  | — | ​ |  | — | ​ |  | 253
Nuclear decommissioning trusts: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Stocks2 | ​ |  | 1,972 | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | 1,972
Fixed Income3 | ​ |  | 1,083 | ​ |  | 1,607 | ​ |  | — | ​ |  | — | ​ |  | 2,690
Short-term investments, primarily cash equivalents | ​ |  | 102 | ​ |  | 125 | ​ |  | — | ​ |  | — | ​ |  | 227
Subtotal of nuclear decommissioning trusts4 | ​ |  | 3,157 | ​ |  | 1,732 | ​ |  | — | ​ |  | — | ​ |  | 4,889
Total assets | ​ |  | 3,387 | ​ |  | 1,781 | ​ |  | 49 | ​ |  | (31) | ​ |  | 5,186
Liabilities at fair value | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Derivative contracts | ​ |  | — | ​ |  | 42 | ​ |  | 5 | ​ |  | (47) | ​ |  | —
Total liabilities | ​ |  | — | ​ |  | 42 | ​ |  | 5 | ​ |  | (47) | ​ |  | —
Net assets | ​ | $ | 3,387 | ​ | $ | 1,739 | ​ | $ | 44 | ​ | $ | 16 | ​ | $ | 5,186
1 | Represents the netting of assets and liabilities under master netting agreements and cash collateral.
2 | Approximately 75% SCE's equity investments were in companies located in the United States at both March 31, 2022 and December 31, 2021, respectively.
3 | Includes corporate bonds, which were diversified by the inclusion of collateralized mortgage obligations and other asset backed securities, of $37 million and $30 million at March 31, 2022 and December 31, 2021, respectively.
4 | Excludes net payables of $22 million and $19 million at March 31, 2022 and December 31, 2021, respectively, which consist of interest and dividend receivables as well as receivables and payables related to SCE's pending securities sales and purchases.
Summary of level 3 fair value changes | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Three months ended
​ | ​ | March 31,
(in millions) | ​ | 2022 | ​ | 2021
Fair value of net assets at beginning of period | ​ | $ | 44 | ​ | $ | 108
Settlements | ​ |  | (3) | ​ |  | (14)
Total realized/unrealized losses 1,2 | ​ |  | (2) | ​ |  | (3)
Fair value of net assets at end of period | ​ | $ | 39 | ​ | $ | 91
1 | Due to regulatory mechanisms, SCE's realized and unrealized gains and losses are recorded as regulatory assets and liabilities.
2 | There were no material transfers into or out of Level 3 during 2022 and 2021.
Valuation techniques and significant inputs | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Fair Value | ​ | ​ | ​ | Significant | ​ | ​ | ​ | Weighted
​ | ​ | (in millions) | ​ | Valuation | ​ | Unobservable | ​ | Range | ​ | Average
​ |  | Assets |  | Liabilities |  | Technique |  | Input |  | (per MWh) |  | (per MWh)
Congestion revenue rights | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ |  | ​ |  | ​ |  | ​
March 31, 2022 | ​ | $ | 43 | ​ | $ | 4 |  | Auction prices |  | CAISO CRR auction prices |  | $(18.87) - $43.03 | ​ | $ | 1.36
December 31, 2021 | ​ |  | 49 | ​ |  | 5 |  | Auction prices |  | CAISO CRR auction prices |  | $(18.87) - $43.03 | ​ | ​ | 1.46
Long-term debt fair value | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | March 31, 2022 |  | December 31, 2021
​ | ​ | Carrying | ​ | Fair | ​ | Carrying | ​ | Fair
(in millions) |  | Value1 |  | Value2 |  | Value1 |  | Value2
Edison International | ​ | $ | 26,084 | ​ | $ | 26,046 | ​ | $ | 25,247 | ​ | $ | 27,718
SCE | ​ |  | 22,945 | ​ |  | 22,842 | ​ |  | 22,110 | ​ |  | 24,375
1 | Carrying value is net of debt issuance costs.
2 | The fair value of Edison International's and SCE's short-term and long-term debt is classified as Level 2.

X
- Definition Tabular disclosure of the fair value measurement of assets and liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets and liabilities) and gains or losses recognized in other comprehensive income, and a description of where those gains or losses included in earnings (or changes in net assets and liabilities) are reported in the statement of income (or activities); (2) purchases, sales, issuances, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset and liabilities. + References No definition available. + Details
Name: | eix_FairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTableTextBlock
Namespace Prefix: | eix_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=123594938&loc=d3e13467-108611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration