Schedule I - Condensed Financial Information of Parent

12 Months Ended

Dec. 31, 2013

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Financial Information of Parent

EDISON INTERNATIONAL

SCHEDULE I – CONDENSED FINANCIAL INFORMATION OF PARENT

CONDENSED BALANCE SHEETS

	December 31,
(in millions)	2013		2012
Assets:
Cash and cash equivalents	$	13	$	64
Other current assets	166		18
Total current assets	179		82
Investments in subsidiaries	10,328		9,903
Deferred income tax	559		555
Other long-term assets	615		414
Total assets	$	11,681	$	10,954
Liabilities and equity:
Accounts payable	$	3	$	105
Other current liabilities	629		184
Total current liabilities	632		289
Long-term debt	400		400
Other long-term liabilities	721		833
Total equity	9,928		9,432
Total liabilities and equity	$	11,681	$	10,954

EDISON INTERNATIONAL

SCHEDULE I – CONDENSED FINANCIAL INFORMATION OF PARENT

CONDENSED STATEMENTS OF INCOME

For the Years Ended December 31, 2013, 2012 and 2011

(in millions, except per-share amounts)	2013			2012			2011
Operating revenue and other income	$	—		$	—		$	—
Operating expenses and interest expense	72			80			63
Loss before equity in earnings of subsidiaries	(72		)	(80		)	(63		)
Equity in earnings of subsidiaries	922			1,590			1,077
Income before income taxes	850			1,510			1,014
Income tax expense (benefit)	(29		)	7			(27		)
Income from continued operations	879			1,503			1,041
Income (loss) from discontinued operations, net of tax	36			(1,686		)	(1,078		)
Net income (loss) attributable to Edison International common shareholders	$	915		$	(183	)	$	(37	)
Weighted-average common stock outstanding	326			326			326
Basic earnings (loss) per share:
Continuing operations	$	2.70		$	4.61		$	3.20
Discontinued operations	0.11			(5.17		)	(3.31		)
Total	$	2.81		$	(0.56	)	$	(0.11	)
Diluted earnings (loss) per share:
Continuing operations	$	2.67		$	4.55		$	3.17
Discontinued operations	0.11			(5.11		)	(3.28		)
Total	$	2.78		$	(0.56	)	$	(0.11	)

CONDENSED STATEMENTS OF COMPREHENSIVE INCOME

For the Years Ended December 31, 2013, 2012 and 2011

(in millions)	2013		2012			2011
Net income (loss)	$	915	$	(183	)	$	(37	)
Other comprehensive income (loss)	74		52			(63		)
Comprehensive income (loss)	$	989	$	(131	)	$	(100	)

EDISON INTERNATIONAL

SCHEDULE I – CONDENSED FINANCIAL INFORMATION OF PARENT

CONDENSED STATEMENTS OF CASH FLOWS

For the Years Ended December 31, 2013, 2012 and 2011

(in millions)	2013			2012			2011
Net cash provided by operating activities	$	387		$	355		$	437
Cash flows from financing activities:
Payable due to consolidated affiliate	10			130			—
Short-term debt financing, net	33			(15		)	(9		)
Settlements of stock-based compensation, net	(6		)	(10		)	(5		)
Dividends paid	(440		)	(424		)	(417		)
Net cash used by financing activities	(403		)	(319		)	(431		)
Net cash provided (used) by investing activities:	(35		)	—			1
Net increase (decrease) in cash and cash equivalents	(51		)	36			7
Cash and cash equivalents, beginning of year	64			28			21
Cash and cash equivalents, end of year	$	13		$	64		$	28

Note 1. Basis of Presentation

The accompanying condensed financial statements of Edison International Parent should be read in conjunction with the consolidated financial statements and notes thereto of Edison International and subsidiaries ("Registrant") included in Part II, Item 8 of this Form 10-K. Edison International's Parent significant accounting policies are consistent with those of the Registrant, SCE and other wholly owned and controlled subsidiaries.

Dividends Received

Edison International Parent received cash dividends from SCE of $486 million, $469 million and $461 million in 2013, 2012 and 2011, respectively.

Dividend Restrictions

The CPUC regulates SCE's capital structure which limits the dividends it may pay Edison International. SCE may make distributions to Edison International as long as the common equity component of SCE's capital structure remains at or above the 48% on a 13-month weighted average basis. At December 31, 2013, SCE's 13-month weighted-average common equity component of total capitalization was 49.2% and the maximum additional dividend that SCE could pay to Edison International under this limitation was approximately $247 million, resulting in a restriction on SCE's net assets of $11.9 billion.

Note 2. Debt and Credit Agreements

Long-Term Debt

At December 31, 2013 and 2012, Edison International Parent had 3.75% senior notes outstanding of $400 million, which matures in 2017.

Credit Agreements and Short-Term Debt

In 2013, Edison International Parent amended its $1.25 billion credit facility to extend the maturity date to July 2018. At December 31, 2013, the outstanding commercial paper was $34 million at a weighted-average interest rate of 0.55%. This short-term debt was supported by the $1.25 billion multi-year revolving credit facility. At December 31, 2012, Edison International Parent had no outstanding short-term debt.

The following table summarizes the status of the credit facility at December 31, 2013:

(in millions)
Commitment	$	1,250
Outstanding borrowings	(34		)
Amount available	$	1,216

The debt covenant in Edison International's credit facility requires a consolidated debt to total capitalization ratio of less than or equal to 0.65 to 1. The ratio is defined in the credit agreement and generally excludes the consolidated debt and total capital of EME during the periods it was consolidated for financial reporting purposes. At December 31, 2013, Edison International's consolidated debt to total capitalization ratio was 0.45 to 1.

Note 3. Related-Party Transactions

Edison International's Parent expenses from services provided by SCE were $3 million, $4 million and $3 million for the years ended December 31, 2013, 2012 and 2011, respectively. Edison International Parent had current related-party receivables of $34 million and $23 million and current related-party payables of $69 million and $146 million at December 31, 2013 and 2012, respectively. Edison International Parent had long-term related-party receivables of $486 million and $322 million at December 31, 2013 and 2012, respectively, and long-term related-party payables of $135 million and $112 million at December 31, 2013 and 2012, respectively.

Note 4. EME Chapter 11 Bankruptcy Filing

Edison International Parent recorded an income tax benefit of $36 million and an after-tax charge of $1.3 billion for the year ended December 31, 2013 and 2012, respectively, related to the deconsolidation of EME. See "Item 8. Notes to Consolidated Financial Statements—Note 7. Income Taxes," "—Note 12. Commitments and Contingencies" and "—Note 16. Discontinued Operations" for further information related to these bankruptcy proceedings.

Note 5. Contingencies

For a discussion of material contingencies see "Item 8. Notes to Consolidated Financial Statements—Note 7. Income Taxes," "—Note 12. Commitments and Contingencies" and "—Note 16. Discontinued Operations."