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Debt and Credit Agreements | 12 Months Ended
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Dec. 31, 2022
Debt and Credit Agreements |
Debt and Credit Agreements | Note 5.Debt and Credit Agreements Long-Term Debt The following table summarizes long-term debt (rates and terms are as of December 31, 2022) of Edison International and SCE: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31,
(in millions) |  | 2022 |  | 2021
Edison International Parent and Other: |  | ​ |  |  | ​ |
Debentures and notes: |  | ​ |  |  | ​ |
2023 – 2029 (2.95% to 6.95%) | ​ | $ | 3,400 | ​ | $ | 3,150
Current portion of long-term debt | ​ |  | (400) | ​ |  | (700)
Unamortized debt discount/premium and issuance costs, net | ​ |  | (19) | ​ |  | (13)
Total Edison International Parent and Other | ​ |  | 2,981 | ​ |  | 2,437
SCE: | ​ |  |  | ​ |  |
First and refunding mortgage bonds: | ​ |  |  | ​ |  |
2023 – 2052 (0.70% to 6.05%) | ​ |  | 23,900 | ​ |  | 20,314
Pollution-control bonds: | ​ |  | ​ | ​ |  | ​
2023 – 2035 (1.45% to 2.63%) | ​ |  | 752 | ​ |  | 752
Debentures and notes: | ​ |  |  | ​ |  |
2029 – 2053 (5.06% to 6.65%) | ​ |  | 306 | ​ |  | 306
Senior secured recovery bonds1: | ​ | ​ | ​ | ​ | ​ | ​
2028 – 2046 (0.86% to 3.24%) | ​ | ​ | 849 | ​ | ​ | 333
Other long-term debt2 | ​ | ​ | 600 | ​ | ​ | 518
Current portion of long-term debt | ​ |  | (2,214) | ​ |  | (377)
Unamortized debt discount/premium and issuance costs, net | ​ |  | (149) | ​ |  | (113)
Total SCE | ​ |  | 24,044 | ​ |  | 21,733
Total Edison International | ​ | $ | 27,025 | ​ | $ | 24,170
1 | The senior secured recovery bonds are payable only from and secured by the Recovery Property at SCE Recovery Funding LLC, and do not constitute a debt or other legal obligation of, or interest in, SCE or any of its affiliates, except for SCE Recovery Funding LLC. For further details, see Note 3.
2 | 2022 amount represents a term loan due in 2024 with an interest rate of adjusted term secured overnight financing rate ("SOFR") plus 0.90%. 2021 amount represent short-term obligations refinanced on a long-term basis subsequent to December 31, 2021.
Edison International and SCE long-term debt maturities over the next five years are as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Edison |  | ​
(in millions) |  | International |  | SCE
2023 | ​ | $ | 2,614 | ​ | $ | 2,214
2024 | ​ |  | 2,680 | ​ |  | 2,180
2025 | ​ |  | 2,030 | ​ |  | 1,230
2026 | ​ |  | 381 | ​ |  | 381
2027 | ​ |  | 1,981 | ​ |  | 1,381
​ Liens and Security Interests Almost all of SCE's properties are subject to a trust indenture lien. SCE has pledged first and refunding mortgage bonds as collateral for borrowed funds obtained from pollution-control bonds issued by government agencies. SCE has a debt covenant that requires a debt to total capitalization ratio to be less than or equal to 0.65 to 1. At December 31, 2022, SCE's debt to total capitalization ratio was 0.56 to 1 and was in compliance with all other financial covenants that affect access to capital. Edison International Parent's credit facility requires a consolidated debt to total capitalization ratio as defined in the applicable agreements of less than or equal to 0.70 to 1. At December 31, 2022, Edison International consolidated debt to total capitalization ratio was 0.64 to 1. Credit Agreements and Short-Term Debt The following table summarizes the status of the credit facilities at December 31, 2022: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(in millions, except for rates)
​ | ​ | Termination | ​ | SOFR | ​ | ​ | ​ | Outstanding | ​ | Outstanding | ​ | Amount
Borrower | ​ | date | ​ | plus (bps) |  | Commitment |  | borrowings |  | letters of credit |  | available
Edison International Parent1, 3 | ​ | May 2026 | ​ | 128 | ​ | $ | 1,500 | ​ | $ | 90 | ​ | $ | — | ​ | $ | 1,410
SCE2, 3 | ​ | May 2026 | ​ | 108 | ​ | ​ | 3,350 | ​ | ​ | 195 | ​ | ​ | 431 | ​ | ​ | 2,724
Total Edison International | $ | 4,850 | ​ | $ | 285 | ​ | $ | 431 | ​ | $ | 4,134
1 | At December 31, 2022, Edison International Parent had $90 million outstanding commercial paper, net of discount, at a weighted-average interest rate of 4.92%. At December 31, 2021 Edison International Parent did no t have any outstanding commercial paper.
2 | At December 31, 2022 and December 31, 2021, SCE had $195 million and $601 million outstanding commercial paper, net of discount, at a weighted-average interest rate of 5.20% and 0.45%, respectively.
3 | Proceeds are used to support commercial paper borrowings and general corporate purposes. 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.
Short-term Term Loans As of December 31, 2022, Edison International Parent had outstanding term loans of $600 million due in April 2023 and $400 million due in November 2023, each bearing interest at either an adjusted term SOFR plus 0.70% and 0.95%, respectively, or a base rate with no applicable margin. The term loan proceeds were used for general corporate purposes. As of December 31, 2022, SCE had a $730 million outstanding balance on its green term loan agreement due in May 2023 and bears interest at an adjusted term SOFR plus 0.55%.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI https://asc.fasb.org/topic&trid=2208564 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (h) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1C -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1I -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1I -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611 Reference 6: 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(c)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (g) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1C -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1C -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1E -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495348-112611 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1I -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (i) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 + Details
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