Schedule I - Condensed Financial Information of Parent

12 Months Ended

Dec. 31, 2014

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Schedule I - Condensed Financial Information of Parent

EDISON INTERNATIONAL

SCHEDULE I – CONDENSED FINANCIAL INFORMATION OF PARENT

CONDENSED BALANCE SHEETS

	December 31,
(in millions)	2014		2013
Assets:
Cash and cash equivalents	$	8	$	13
Other current assets	531		166
Total current assets	539		179
Investments in subsidiaries	12,416		10,328
Deferred income taxes	547		559
Other long-term assets	172		615
Total assets	$	13,674	$	11,681
Liabilities and equity:
Short-term debt	$	619	$	34
Current portion of long-term debt	204		—
Other current liabilities	377		598
Total current liabilities	1,200		632
Long-term debt	610		400
Other long-term liabilities	904		721
Total equity	10,960		9,928
Total liabilities and equity	$	13,674	$	11,681

EDISON INTERNATIONAL

SCHEDULE I – CONDENSED FINANCIAL INFORMATION OF PARENT

CONDENSED STATEMENTS OF INCOME

For the Years Ended December 31, 2014, 2013 and 2012

(in millions)	2014			2013			2012
Operating revenue and other income	$	3		$	—		$	—
Operating expenses and interest expense	94			72			80
Loss before equity in earnings of subsidiaries	(91		)	(72		)	(80		)
Equity in earnings of subsidiaries	1,482			922			1,590
Income before income taxes	1,391			850			1,510
Income tax expense (benefit)	(36		)	(29		)	7
Income from continuing operations	1,427			879			1,503
Income (loss) from discontinued operations, net of tax	185			36			(1,686		)
Net income (loss)	$	1,612		$	915		$	(183	)

CONDENSED STATEMENTS OF COMPREHENSIVE INCOME

For the Years Ended December 31, 2014, 2013 and 2012

(in millions)	2014			2013		2012
Net income (loss)	$	1,612		$	915	$	(183	)
Other comprehensive income (loss), net of tax	(45		)	74		52
Comprehensive income (loss)	$	1,567		$	989	$	(131	)

EDISON INTERNATIONAL

SCHEDULE I – CONDENSED FINANCIAL INFORMATION OF PARENT

CONDENSED STATEMENTS OF CASH FLOWS

For the Years Ended December 31, 2014, 2013 and 2012

(in millions)	2014			2013			2012
Net cash provided (used) by operating activities	$	(73	)	$	387		$	355
Cash flows from financing activities:
Payable due to affiliate	66			10			130
Short-term debt financing, net	584			33			(15		)
Settlements of stock-based compensation, net	(24		)	(6		)	(10		)
Dividends paid	(463		)	(440		)	(424		)
Net cash provided (used) by financing activities	163			(403		)	(319		)
Net cash used by investing activities	(95		)	(35		)	—
Net increase (decrease) in cash and cash equivalents	(5		)	(51		)	36
Cash and cash equivalents, beginning of year	13			64			28
Cash and cash equivalents, end of year	$	8		$	13		$	64

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 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 $378 million, $486 million and $469 million in 2014, 2013 and 2012, 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, 2014, SCE's 13-month weighted-average common equity component of total capitalization was 48.4% and the maximum additional dividend that SCE could pay to Edison International under this limitation was approximately $87 million, resulting in a restriction on SCE's net assets of $13.2 billion.

Note 2. Debt and Credit Agreements

Long-Term Debt

At December 31, 2014 and 2013, Edison International Parent had 3.75% senior notes outstanding of $400 million, which matures in 2017. In connection with a settlement agreement between Edison International, EME and the Consenting Noteholders, in September 2014, Edison International Parent issued non-interest bearing promissory notes of $204 million due in September 2015 and $214 million due in September 2016.

Credit Agreements and Short-Term Debt

In 2014, Edison International Parent amended its $1.25 billion credit facility to extend the maturity date to July 2019. At December 31, 2014, the outstanding commercial paper was $619 million at a weighted-average interest rate of 0.45%. This short-term debt was supported by the $1.25 billion multi-year revolving credit facility. At December 31, 2013, the outstanding commercial paper was $34 million at a weighted-average interest rate of 0.55%.

The following table summarizes the status of the credit facility at December 31, 2014:

(in millions)
Commitment	$	1,250
Outstanding borrowings	(619		)
Amount available	$	631

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 excluded the consolidated debt and total capital of EME during the periods it was consolidated for financial reporting purposes. At December 31, 2014, Edison International's consolidated debt to total capitalization ratio was 0.48 to 1.

Note 3. Related-Party Transactions

Edison International's Parent expenses from services provided by SCE were $3 million, $3 million and $4 million for the years ended December 31, 2014, 2013 and 2012, respectively. Edison International Parent had current related-party receivables of $267 million and $34 million and current related-party payables of $213 million and $69 million at December 31, 2014 and 2013, respectively. Edison International Parent had long-term related-party receivables of $125 million and $486 million at December 31, 2014 and 2013, respectively, and long-term related-party payables of $179 million and $135 million at December 31, 2014 and 2013, respectively.

Note 4. Discontinued Operations

In December 2012, EME and certain of its wholly-owned subsidiaries filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court. See "Notes to Consolidated Financial Statements—Note 15. Discontinued Operations" for further information.

Note 5. Contingencies

For a discussion of material contingencies see "Notes to Consolidated Financial Statements—Note 7. Income Taxes," "—Note 11. Commitments and Contingencies" and "—Note 15. Discontinued Operations."