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Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2023
Summary of Significant Accounting Policies |
Cash Equivalents | The cash equivalents were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Edison International | ​ | SCE
​ | ​ | December 31,
(in millions) |  | 2023 |  | 2022 |  | 2023 |  | 2022
Money market funds | ​ | $ | 199 | ​ | $ | 784 | ​ | $ | 78 | ​ | $ | 647
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,
(in millions) |  | 2023 |  | 2022
Edison International: | ​ |  | ​ | ​ |  | ​
Cash and cash equivalents | ​ | $ | 345 | ​ | $ | 914
Short-term restricted cash1 | ​ |  | 35 | ​ |  | 3
Long-term restricted cash2 | ​ | ​ | 152 | ​ | ​ | —
Total cash, cash equivalents and restricted cash | ​ | $ | 532 | ​ | $ | 917
SCE: | ​ |  | ​ | ​ |  | ​
Cash and cash equivalents | ​ | $ | 214 | ​ | $ | 766
Short-term restricted cash1 | ​ |  | 33 | ​ |  | —
Long-term restricted cash2 | ​ | ​ | 151 | ​ | ​ | —
Total cash, cash equivalents and restricted cash | ​ | $ | 398 | ​ | $ | 766
1 | Includes SCE Recovery Funding LLC's restricted cash for payments of senior secured recovery bonds and is reflected in "Other current assets" on Edison International's and SCE's consolidated balance sheets.
2 | The SCE amount represents cash collected for customer-funded wildfire self-insurance and is reflected in "Other long-term assets" on Edison International's and SCE's consolidated balance sheets. See Note 12 for further information.
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, 2020 |  | $ | 175 |  | $ | 13 | ​ | $ | 188
Current period provision for uncollectible accounts1 | ​ | ​ | 124 | ​ | ​ | 11 | ​ | ​ | 135
Write-offs, net of recoveries | ​ |  | (6) | ​ |  | (8) | ​ |  | (14)
Balance at December 31, 2021 |  | $ | 293 |  | $ | 16 | ​ | $ | 309
Current period provision for uncollectible accounts1 | ​ | ​ | 111 | ​ | ​ | 11 | ​ | ​ | 122
Write-offs, net of recoveries | ​ |  | (70) | ​ |  | (7) | ​ |  | (77)
Balance at December 31, 2022² | ​ | $ | 334 |  | $ | 20 | ​ | $ | 354
Current period provision for uncollectible accounts1 | ​ | ​ | 109 | ​ | ​ | 6 | ​ | ​ | 115
Write-offs, net of recoveries | ​ |  | (96) | ​ |  | (9) | ​ |  | (105)
Balance at December 31, 2023² | ​ | $ | 347 |  | $ | 17 | ​ | $ | 364
1 | This includes $78 million, $40 million and $91 million of incremental costs for the years ended December 31, 2023, 2022 and 2021, respectively, which were probable of recovery from customers and recorded as regulatory assets.
2 | Approximately $4 million and $7 million of allowance for uncollectible accounts are included in "Other long-term assets" on SCE's consolidated balance sheets as of December 31, 2023 and December 31, 2022, respectively.
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 54 years | ​ | 39 years
Distribution plant |  | 20 years to 67 years | ​ | 50 years
Transmission plant |  | 30 years to 65 years | ​ | 54 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) |  | 2023 |  | 2022
Beginning balance | ​ | $ | 2,754 | ​ | $ | 2,772
Accretion1 | ​ |  | 144 | ​ |  | 143
Revisions | ​ |  | (3) | ​ |  | 28
Liabilities settled | ​ |  | (229) | ​ |  | (189)
Ending balance | ​ | $ | 2,666 | ​ | $ | 2,754
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) |  | 2023 |  | 2022 |  | 2021 |  | 2023 |  | 2022 |  | 2021
Amortization of deferred financing costs charged to interest expense | ​ | $ | 39 | ​ | $ | 37 | ​ | $ | 34 | ​ | $ | 32 | ​ | $ | 31 | ​ | $ | 29
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) | ​ | 2023 |  | 2022 |  | 2021
Basic earnings per share: | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | ​
Net income attributable to common shareholders | ​ | $ | 1,197 | ​ | $ | 612 | ​ | $ | 759
Net income available to common shareholders | ​ | $ | 1,197 | ​ | $ | 612 | ​ | $ | 759
Weighted average common shares outstanding | ​ | ​ | 383 | ​ | ​ | 381 | ​ | ​ | 380
Basic earnings per share | ​ | $ | 3.12 | ​ | $ | 1.61 | ​ | $ | 2.00
Diluted earnings per share: | ​ | ​ | ​ | ​ | ​ |  | ​ | ​ |
Net income attributable to common shareholders | ​ | $ | 1,197 | ​ | $ | 612 | ​ | $ | 759
Net income available to common shareholders | ​ | $ | 1,197 | ​ | $ | 612 | ​ | $ | 759
Income impact of assumed conversions | ​ | ​ | 1 | ​ | ​ | 1 | ​ | ​ | 1
Net income available to common shareholders and assumed conversions | ​ | $ | 1,198 | ​ | $ | 613 | ​ | $ | 760
Weighted average common shares outstanding | ​ | ​ | 383 | ​ | ​ | 381 | ​ | ​ | 380
Incremental shares from assumed conversions | ​ | ​ | 2 | ​ | ​ | 2 | ​ | ​ | —
Adjusted weighted average shares – diluted | ​ | ​ | 385 | ​ | ​ | 383 | ​ | ​ | 380
Diluted earnings per share | ​ | $ | 3.11 | ​ | $ | 1.60 | ​ | $ | 2.00

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