Schedule I - Condensed Financial Information of Parent

12 Months Ended

Dec. 31, 2015

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)	2015		2014
Assets:
Cash and cash equivalents	$	7	$	8
Other current assets	259		531
Total current assets	266		539
Investments in subsidiaries	12,696		12,416
Deferred income taxes	626		547
Other long-term assets	111		172
Total assets	$	13,699	$	13,674
Liabilities and equity:
Short-term debt	$	646	$	619
Current portion of long-term debt	214		204
Other current liabilities	368		377
Total current liabilities	1,228		1,200
Long-term debt	399		610
Other long-term liabilities	704		904
Total equity	11,368		10,960
Total liabilities and equity	$	13,699	$	13,674

EDISON INTERNATIONAL

SCHEDULE I – CONDENSED FINANCIAL INFORMATION OF PARENT

CONDENSED STATEMENTS OF INCOME

For the Years Ended December 31, 2015, 2014 and 2013

(in millions)	2015			2014			2013
Operating revenue and other income	$	3		$	3		$	—
Operating expenses and interest expense	78			94			72
Loss before equity in earnings of subsidiaries	(75		)	(91		)	(72		)
Equity in earnings of subsidiaries	1,025			1,482			922
Income before income taxes	950			1,391			850
Income tax benefit	(35		)	(36		)	(29		)
Income from continuing operations	985			1,427			879
Income from discontinued operations, net of tax	35			185			36
Net income	$	1,020		$	1,612		$	915

CONDENSED STATEMENTS OF COMPREHENSIVE INCOME

For the Years Ended December 31, 2015, 2014 and 2013

(in millions)	2015		2014			2013
Net income	$	1,020	$	1,612		$	915
Other comprehensive income (loss), net of tax	2		(45		)	74
Comprehensive income	$	1,022	$	1,567		$	989

EDISON INTERNATIONAL

SCHEDULE I – CONDENSED FINANCIAL INFORMATION OF PARENT

CONDENSED STATEMENTS OF CASH FLOWS

For the Years Ended December 31, 2015, 2014 and 2013

(in millions)	2015			2014			2013
Net cash provided by (used in) operating activities	$	641		$	(73	)	$	387
Cash flows from financing activities:
Payable due to affiliate	54			66			10
Short-term debt financing, net	26			584			33
Settlements of stock-based compensation, net	(42		)	(24		)	(6		)
Dividends paid	(544		)	(463		)	(440		)
Net cash (used in) provided by financing activities	(506		)	163			(403		)
Net cash used in investing activities:	(136		)	(95		)	(35		)
Net decrease in cash and cash equivalents	(1		)	(5		)	(51		)
Cash and cash equivalents, beginning of year	8			13			64
Cash and cash equivalents, end of year	$	7		$	8		$	13

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 $758 million, $378 million and $486 million in 2015, 2014 and 2013, 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, 2015, SCE's 13-month weighted-average common equity component of total capitalization was 49.9% and the maximum additional dividend that SCE could pay to Edison International under this limitation was approximately $441 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, 2015 and 2014, 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 which $204 million was paid on September 30, 2015 and $214 million is due on September 30, 2016.

Credit Agreements and Short-Term Debt

In 2015, Edison International Parent amended the credit facility to extend the maturity date for the $1.25 billion credit facility to July 2020. At December 31, 2015, the outstanding commercial paper was $646 million at a weighted-average interest rate of 0.78%. This short-term debt was supported by the $1.25 billion multi-year revolving credit facility. At December 31, 2014, the outstanding commercial paper was $619 million at a weighted-average interest rate of 0.45%.

The following table summarizes the status of the credit facility at December 31, 2015:

(in millions)
Commitment	$	1,250
Outstanding borrowings	(646		)
Amount available	$	604

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, 2015, Edison International's consolidated debt to total capitalization ratio was 0.47 to 1.

Note 3. Related-Party Transactions

Edison International's Parent expenses from services provided by SCE were $3 million annually in 2015, 2014 and 2013. Edison International Parent had current related-party receivables of $252 million and $267 million and current related-party payables of $149 million and $213 million at December 31, 2015 and 2014, respectively. Edison International Parent had long-term related-party receivables of $105 million and $125 million at December 31, 2015 and 2014, respectively, and long-term related-party payables of $213 million and $179 million at December 31, 2015 and 2014, respectively.

Note 4. 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."