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Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2022
Summary of Significant Accounting Policies |
Cash Equivalents | The cash equivalents were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Edison International | ​ | SCE
​ | ​ | December 31,
(in millions) |  | 2022 |  | 2021 |  | 2022 |  | 2021
Money market funds | ​ | $ | 784 | ​ | $ | 329 | ​ | $ | 647 | ​ | $ | 230
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) |  | 2022 |  | 2021
Edison International: | ​ |  | ​ | ​ |  | ​
Cash and cash equivalents | ​ | $ | 914 | ​ | $ | 390
Short-term restricted cash1 | ​ |  | 3 | ​ |  | 4
Total cash, cash equivalents and restricted cash | ​ | $ | 917 | ​ | $ | 394
SCE: | ​ |  | ​ | ​ |  |
Cash and cash equivalents | ​ | $ | 766 | ​ | $ | 279
Short-term restricted cash1 | ​ |  | — | ​ |  | 1
Total cash, cash equivalents and restricted cash | ​ | $ | 766 | ​ | $ | 280
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:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(in millions) | ​ | Customers | ​ | ​ | All others | ​ | ​ | Total
Balance at December 31, 2019 |  | $ | 35 |  | $ | 14 | ​ | $ | 49
Current period provision for uncollectible accounts | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Included in operation and maintenance expenses in earning activities1 | ​ |  | 36 | ​ |  | 9 | ​ |  | 45
Included in operation and maintenance expenses in cost-recovery activities2 | ​ | ​ | 15 | ​ | ​ | — | ​ | ​ | 15
Deferred to regulatory memorandum accounts | ​ |  | 105 | ​ |  | — | ​ |  | 105
Write-offs, net of recoveries | ​ |  | (16) | ​ |  | (10) | ​ |  | (26)
Balance at December 31, 2020 |  | $ | 175 |  | $ | 13 | ​ | $ | 188
Current period provision for uncollectible accounts | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Included in operation and maintenance expenses in earning activities1 | ​ |  | 33 | ​ |  | 11 | ​ |  | 44
Included in operation and maintenance expenses in cost-recovery activities2 | ​ | ​ | 74 | ​ | ​ | — | ​ | ​ | 74
Deferred to regulatory memorandum accounts | ​ |  | 17 | ​ |  | — | ​ |  | 17
Write-offs, net of recoveries | ​ |  | (6) | ​ |  | (8) | ​ |  | (14)
Balance at December 31, 2021³ | ​ | $ | 293 |  | $ | 16 | ​ | $ | 309
Current period provision for uncollectible accounts | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Included in operation and maintenance expenses in earning activities1 | ​ |  | 71 | ​ |  | 11 | ​ |  | 82
Included in operation and maintenance expenses in cost-recovery activities2,4 | ​ | ​ | 58 | ​ | ​ | — | ​ | ​ | 58
Deferred to regulatory memorandum accounts4 | ​ |  | (18) | ​ |  | — | ​ |  | (18)
Write-offs, net of recoveries | ​ |  | (70) | ​ |  | (7) | ​ |  | (77)
Balance at December 31, 2022³ | ​ | $ | 334 |  | $ | 20 | ​ | $ | 354
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 | Approximately $7 million and $116 million of allowance for uncollectible accounts are included in long-term "Receivables" on SCE's consolidated balance sheets as of December 31, 2022 and December 31, 2021, respectively.
4 | Represents current year changes in the allowance for uncollectible accounts and excludes authorized recovery of previously deferred balances.
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 | ​ | 39 years
Distribution plant |  | 20 years to 67 years | ​ | 50 years
Transmission plant |  | 30 years to 65 years | ​ | 53 years
General plant and other |  | 5 years to 60 years | ​ | 20 years
Reconciliation of the Changes in ARO Liability | The following table summarizes the changes in SCE's ARO liability:
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | December 31,
(in millions) |  | 2022 |  | 2021
Beginning balance | ​ | $ | 2,772 | ​ | $ | 2,930
Accretion1 | ​ |  | 143 | ​ |  | 157
Revisions | ​ |  | 28 | ​ |  | (77)
Liabilities settled | ​ |  | (189) | ​ |  | (238)
Ending balance | ​ | $ | 2,754 | ​ | $ | 2,772
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) |  | 2022 |  | 2021 |  | 2020 |  | 2022 |  | 2021 |  | 2020
Amortization of deferred financing costs charged to interest expense | ​ | $ | 37 | ​ | $ | 34 | ​ | $ | 32 | ​ | $ | 31 | ​ | $ | 29 | ​ | $ | 27
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) |  | 2022 |  | 2021 |  | 2020
Basic earnings per share: | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | ​
Net income attributable to common shareholders | ​ | $ | 612 | ​ | $ | 759 | ​ | $ | 739
Net income available to common shareholders | ​ | $ | 612 | ​ | $ | 759 | ​ | $ | 739
Weighted average common shares outstanding | ​ | ​ | 381 | ​ | ​ | 380 | ​ | ​ | 373
Basic earnings per share | ​ | $ | 1.61 | ​ | $ | 2.00 | ​ | $ | 1.98
Diluted earnings per share: | ​ | ​ | ​ | ​ | ​ |  | ​ | ​ |
Net income attributable to common shareholders | ​ | $ | 612 | ​ | $ | 759 | ​ | $ | 739
Net income available to common shareholders | ​ | $ | 612 | ​ | $ | 759 | ​ | $ | 739
Income impact of assumed conversions | ​ | ​ | 1 | ​ | ​ | 1 | ​ | ​ | —
Net income available to common shareholders and assumed conversions | ​ | $ | 613 | ​ | $ | 760 | ​ | $ | 739
Weighted average common shares outstanding | ​ | ​ | 381 | ​ | ​ | 380 | ​ | ​ | 373
Incremental shares from assumed conversions | ​ | ​ | 2 | ​ | ​ | — | ​ | ​ | 1
Adjusted weighted average shares – diluted | ​ | ​ | 383 | ​ | ​ | 380 | ​ | ​ | 374
Diluted earnings per share | ​ | $ | 1.60 | ​ | $ | 2.00 | ​ | $ | 1.98

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