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Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Total operating revenue $ 11,524 $ 13,413 $ 12,581
Purchased power and fuel 4,266 5,593 4,891
Operation and maintenance 2,990 3,149 3,473
Depreciation, decommissioning and amortization 1,919 1,720 1,622
Property and other taxes 336 322 309
Impairment and other charges 5 157 571
Total operating expenses 9,516 10,941 10,866
Loss before equity in earnings of subsidiaries 2,008 2,472 1,715
Interest and other income 174 147 124
Interest expense (555) (560) (544)
Other expenses (59) (80) (74)
Income from continuing operations before income taxes 1,568 1,979 1,221
Income tax expense 486 443 242
Income from continuing operations 1,082 [1] 1,536 [2] 979
Income (loss) from discontinued operations, net 35 185 36
Net income 1,117 1,721 1,015
Preferred and preference stock dividend requirements of utility 113 112 100
Other noncontrolling interests (16) (3) 0
Income from continuing operations available to common shareholders 1,020 1,612 915
Basic earnings per common share attributable to Edison International common shareholders:      
Income from continuing operations, net of tax 985 1,427 879
Income (loss) from discontinued operations, net 35 185 36
Income from continuing operations available to common shareholders $ 1,020 $ 1,612 $ 915
Basic earnings per common share attributable to Edison International common shareholders:      
Weighted-average shares of common stock outstanding 326 326 326
Continuing operations (in dollars per share) $ 3.02 $ 4.38 $ 2.70
Discontinued operations (in dollars per share) 0.11 0.57 0.11
Total (in dollars per share) $ 3.13 $ 4.95 $ 2.81
Diluted earnings per common share attributable to Edison International common shareholders:      
Weighted-average shares of common stock outstanding, including effect of dilutive securities 329 329 329
Continuing operations (in dollars per share) $ 2.99 $ 4.33 $ 2.67
Discontinued operations (in dollars per share) 0.11 0.56 0.11
Total (in dollars per share) 3.10 4.89 2.78
Dividends declared per common share $ 1.7325 $ 1.4825 $ 1.3675
Southern California Edison      
Total operating revenue $ 11,485 $ 13,380 $ 12,562
Purchased power and fuel 4,266 5,593 4,891
Operation and maintenance 2,890 3,057 3,416
Depreciation, decommissioning and amortization 1,915 1,720 1,622
Property and other taxes 334 318 307
Impairment and other charges 0 163 575
Total operating expenses 9,405 10,851 10,811
Loss before equity in earnings of subsidiaries 2,080 2,529 1,751
Interest and other income 123 122 122
Interest expense (526) (533) (520)
Other expenses (59) (79) (74)
Income from continuing operations before income taxes 1,618 2,039 1,279
Income tax expense 507 474 279
Net income 1,111 [3] 1,565 [4] 1,000
Preferred and preference stock dividend requirements of utility 113 112 100
Income from continuing operations available to common shareholders 998 1,453 900
Basic earnings per common share attributable to Edison International common shareholders:      
Income from continuing operations available to common shareholders $ 998 $ 1,453 $ 900
[1] In the fourth quarter of 2015, as result of the 2015 GRC Decision, SCE recorded a $382 million write-down of regulatory assets previously recorded for recovery of deferred income taxes from 2012 – 2014 incremental tax repair deductions. 2014(in millions, except per-share amounts)Total Fourth Third Second FirstOperating revenue$13,413 $3,114 $4,356 $3,016 $2,926Operating income 2,472 693 874 575 331Income from continuing operations11,536 406 524 382 224Income (loss) from discontinued operations, net185 39 (16) 184 (22)Net income attributable to common shareholders1,612 420 480 536 176Basic earnings (loss) per share: Continuing operations$4.38 $1.17 $1.52 $1.08 $0.61 Discontinued operations0.57 0.12 (0.05) 0.56 (0.07)Total$4.95 $1.29 $1.47 $1.64 $0.54Diluted earnings (loss) per share: Continuing operations$4.33 $1.15 $1.51 $1.07 $0.61 Discontinued operations0.56 0.12 (0.05) 0.56 (0.07)Total$4.89 $1.27 $1.46 $1.63 $0.54Dividends declared per share1.4825 0.4175 0.3550 0.3550 0.3550Common stock prices: High68.74 68.74 59.54 58.24 56.61Low44.74 55.88 54.12 53.63 44.74Close65.48 65.48 55.92 58.11 56.61
[2] During the first quarter of 2014, SCE recorded an impairment charge of $231 million ($96 million after-tax) in 2014. During the fourth quarter of 2014, SCE reduced its estimated impact of the San Onofre OII Settlement by $68 million ($24 million after-tax) consistent with the advice for reimbursement of recorded costs.
[3] In the fourth quarter of 2015, as result of the 2015 GRC Decision, SCE recorded a $382 million write-down of regulatory assets previously recorded for recovery of deferred income taxes from 2012 – 2014 incremental tax repair deductions. 2014(in millions)Total Fourth Third Second FirstOperating revenue$13,380 $3,104 $4,338 $3,014 $2,924Operating income2,529 715 881 593 342Net income11,565 408 531 392 234Net income available for common stock1,453 380 503 362 208Common dividends declared525 147 126 126 126
[4] During the first quarter of 2014, SCE recorded an impairment charge of $231 million ($96 million after-tax) in 2014. During the fourth quarter of 2014, SCE reduced its estimated impact of the San Onofre OII Settlement by $68 million ($24 million after-tax) consistent with the advice for reimbursement of recorded costs.