Schedule I - Condensed Financial Information of Parent

12 Months Ended

Dec. 31, 2017

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)	2017		2016
Assets:
Cash and cash equivalents	$	524	$	6
Other current assets	340		261
Total current assets	864		267
Investments in subsidiaries	13,659		13,459
Deferred income taxes	500		646
Other long-term assets	91		108
Total assets	$	15,114	$	14,480
Liabilities and equity:
Short-term debt	$	1,139	$	539
Current portion of long-term debt	—		400
Other current liabilities	467		484
Total current liabilities	1,606		1,423
Long-term debt	1,193		397
Other long-term liabilities	644		664
Total equity	11,671		11,996
Total liabilities and equity	$	15,114	$	14,480

EDISON INTERNATIONAL

SCHEDULE I – CONDENSED FINANCIAL INFORMATION OF PARENT

CONDENSED STATEMENTS OF INCOME

For the Years Ended December 31, 2017, 2016 and 2015

(in millions)	2017			2016			2015
Interest income from affiliates	$	—		$	6		$	3
Operating expenses and interest expense	92			86			78
Loss before equity in earnings of subsidiaries	(92		)	(80		)	(75		)
Equity in earnings of subsidiaries	739			1,337			1,025
Income before income taxes	647			1,257			950
Income tax expense (benefit)	82			(42		)	(35		)
Income from continuing operations	565			1,299			985
Income from discontinued operations, net of tax	—			12			35
Net income	$	565		$	1,311		$	1,020

CONDENSED STATEMENTS OF COMPREHENSIVE INCOME

For the Years Ended December 31, 2017, 2016 and 2015

(in millions)	2017		2016		2015
Net income	$	565	$	1,311	$	1,020
Other comprehensive income, net of tax	10		3		2
Comprehensive income	$	575	$	1,314	$	1,022

EDISON INTERNATIONAL

SCHEDULE I – CONDENSED FINANCIAL INFORMATION OF PARENT

CONDENSED STATEMENTS OF CASH FLOWS

For the Years Ended December 31, 2017, 2016 and 2015

(in millions)	2017			2016			2015
Net cash provided by operating activities	$	462		$	493		$	641
Cash flows from financing activities:
Long-term debt issued	798			400			—
Long-term debt issuance costs	(5		)	(3		)	—
Long-term debt matured	(400		)	—			—
Payable due to affiliates	8			34			54
Short-term debt financing, net	600			(108		)	26
Payments for stock-based compensation	(260		)	(95		)	(114		)
Receipts for stock-based compensation	144			51			72
Dividends paid	(707		)	(626		)	(544		)
Net cash provided by (used in) financing activities	178			(347		)	(506		)
Capital contributions to affiliate	(122		)	(147		)	(30		)
Loans to affiliate	—			—			(106		)
Net cash used in investing activities:	(122		)	(147		)	(136		)
Net increase (decrease) in cash and cash equivalents	518			(1		)	(1		)
Cash and cash equivalents, beginning of year	6			7			8
Cash and cash equivalents, end of year	$	524		$	6		$	7

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 $573 million, $701 million and $758 million in 2017, 2016 and 2015, respectively. During the fourth quarter of 2017, SCE declared a dividend to Edison International of $212 million, which was paid on January 31, 2018.

Dividend Restrictions

The CPUC regulates SCE's capital structure which limits the dividends it may pay Edison International. Under CPUC regulations, SCE may make distributions to Edison International as long as the common equity component of SCE's capital structure remains at or above 48% on a 13-month average basis, or otherwise satisfies the CPUC requirements.

If the Revised San Onofre Settlement Agreement is approved by the CPUC, SCE may exclude the $448 million after-tax charge resulting from the implementation of the Revised San Onofre Settlement Agreement from its ratemaking capital structure. At December 31, 2017, without excluding the $448 million after-tax charge, SCE's 13-month average common equity component of total capitalization was 50.0% and the maximum additional dividend that SCE could pay to Edison International under this limitation was approximately $511 million, resulting in a restriction on net assets of approximately $14.2 billion. If the Revised San Onofre Settlement Agreement had been approved by the CPUC at December 31, 2017, the common equity component of SCE's capital structure would have been 50.1% on a 13-month average basis.

Note 2. Debt and Credit Agreements

Long-Term Debt

During the first quarter of 2017, Edison International issued $400 million of 2.125% senior notes due in 2020. The proceeds were used to repay commercial paper borrowings and for general corporate purposes. In August 2017, Edison International issued $400 million of 2.40% senior notes due in 2022. In addition, at December 31, 2017 and 2016, respectively, Edison International Parent had $400 million of 2.95% senior notes due in 2023 and $400 million of 3.75% senior notes, which were paid in September 2017 with the proceeds from the August 2017 issuance as discussed above.

Credit Agreements and Short-Term Debt

The following table summarizes the status of the credit facility at December 31, 2017:

(in millions)
Commitment	$	1,250
Outstanding borrowings	(1,139		)
Amount available	$	111

During the second quarter of 2017, Edison International Parent amended the credit facility to extend the maturity date for the $1.25 billion credit facility to July 2022. At December 31, 2017, the outstanding commercial paper, net of discount, was $639 million at a weighted-average interest rate of 1.70%. This commercial paper was supported by the $1.25 billion multi-year revolving credit facility. In December 2017, Edison International Parent borrowed $500 million from the credit facility which had an interest rate of 2.56% on December 31, 2017. In January 2018, Edison International repaid its $500 million borrowings with cash on hand. At December 31, 2016, the outstanding commercial paper, net of discount, was $538 million at a weighted-average interest rate of 0.97%.

In January 2018, Edison International Parent borrowed $500 million under a Term Loan Agreement due in January 2019, with a variable interest rate based on the London Interbank Offered Rate plus 60 basis points. The proceeds were used to repay Edison International Parent's commercial paper borrowings discussed above.

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. At December 31, 2017, Edison International's consolidated debt to total capitalization ratio was 0.51 to 1.

Note 3. Related-Party Transactions

Edison International's Parent expense from services provided by SCE was $3 million annually in 2017, 2016 and 2015. Edison International's Parent interest expense from loans due to affiliates was $5 million in 2017, $3 million in 2016 and $6 million in 2015. Edison International Parent had current related-party receivables of $256 million and $262 million and current related-party payables of $235 million and $221 million at December 31, 2017 and 2016, respectively. During 2017, a related-party note receivable of $184 million was converted into a capital contribution. Edison International Parent had long-term related-party receivables of $81 million and $103 million at December 31, 2017 and 2016, respectively, and long-term related-party payables of $200 million and $243 million at December 31, 2017 and 2016, respectively.

Note 4. Contingencies

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