Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2022

Summary of Significant Accounting Policies

Cash Equivalents

The cash equivalents were as follows:

	Edison International				SCE
	March 31,		December 31,		March 31,		December 31,
(in millions)	2022		2021		2022		2021
Money market funds	$	167	$	329	$	63	$	230

Cash is temporarily invested until required for check clearing. Checks issued, but not yet paid by the financial institution, are reclassified from cash to accounts payable at the end of each reporting period.

Cash, Cash Equivalents and Restricted Cash

	March 31,		December 31,
(in millions)	2022		2021
Edison International:
Cash and cash equivalents	$	231	$	390
Short-term restricted cash1		3		4
Total cash, cash equivalents and restricted cash	$	234	$	394
SCE:
Cash and cash equivalents	$	119	$	279
Short-term restricted cash1		—		1
Total cash, cash equivalents and restricted cash	$	119	$	280

1 Reflected in "Other current assets" on Edison International's and SCE's consolidated balance sheets.

Changes in Allowance for Uncollectible Accounts

	Three months ended							Three months ended
	March 31, 2022							March 31, 2021
(in millions)	Customers			All others		Total		Customers			All others		Total
Beginning balance	$	293	$	16	$	309	³	$	175	$	13	$	188
Plus: current period provision for uncollectible accounts
Included in operation and maintenance expenses in earning activities1		13		7		20			6		4		10
Included in operation and maintenance expenses in cost-recovery activities2		38		—		38			32		—		32
Deferred to regulatory memorandum accounts		3		—		3			2		—		2
Less: write-offs, net of recoveries		10		7		17			5		1		6
Ending balance	$	337	$	16	$	353	³	$	210	$	16	$	226

1 Earning activities is one of SCE's disaggregated revenue sources. See Note 7 for further details.

2 Cost-recovery activities is one of SCE's disaggregated revenue sources. See Note 7 for further details. This portion of costs from the allowance for uncollectible expenses is recovered through the residential uncollectibles balancing account.

3 Approximately $99 million and $116 million of allowance for uncollectible accounts are included in "Long-term account receivables" on Edison International's and SCE's consolidated balance sheets as of March 31, 2022 and December 31, 2021, respectively.

EPS Attributable to Edison International Common Shareholders

	Three months ended March 31,
(in millions, except per-share amounts)	2022		2021
Basic earnings per share:
Net income attributable to common shareholders	$	84	$	259
Net income available to common shareholders	$	84	$	259
Weighted average common shares outstanding		381		379
Basic earnings per share	$	0.22	$	0.68
Diluted earnings per share:
Net income attributable to common shareholders	$	84	$	259
Net income available to common shareholders	$	84	$	259
Net income available to common shareholders and assumed conversions	$	84	$	259
Weighted average common shares outstanding		381		379
Incremental shares from assumed conversions		1		1
Adjusted weighted average shares – diluted		382		380
Diluted earnings per share	$	0.22	$	0.68