10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)
þ	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
	For the quarterly period ended June 30, 2015
o	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
	For the transition period from                        to

Commission File Number	Exact Name of Registrant as specified in its charter	State or Other Jurisdiction of Incorporation or Organization	IRS Employer Identification Number
1-9936	EDISON INTERNATIONAL	California	95-4137452
1-2313	SOUTHERN CALIFORNIA EDISON COMPANY	California	95-1240335

EDISON INTERNATIONAL	SOUTHERN CALIFORNIA EDISON COMPANY
2244 Walnut Grove Avenue (P.O. Box 976) Rosemead, California 91770 (Address of principal executive offices)	2244 Walnut Grove Avenue (P.O. Box 800) Rosemead, California 91770 (Address of principal executive offices)
(626) 302-2222 (Registrant's telephone number, including area code)	(626) 302-1212 (Registrant's telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Edison International        Yes þ No oSouthern California Edison Company    Yes þ No o

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

Edison International        Yes þ No oSouthern California Edison Company    Yes þ No ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See the definitions of "accelerated filer," "large accelerated filer," and "smaller reporting company" in Rule 12b-12 of the Exchange Act. (Check One):
Edison International	Large Accelerated Filer þ	Accelerated Filer ¨	Non-accelerated Filer ¨	Smaller Reporting Company ¨
Southern California Edison Company	Large Accelerated Filer ¨	Accelerated Filer ¨	Non-accelerated Filer þ	Smaller Reporting Company ¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Edison International        Yes ¨ No þSouthern California Edison Company    Yes ¨ No þ

Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date:

Common Stock outstanding as of July 28, 2015:
Edison International	325,811,206 shares
Southern California Edison Company	434,888,104 shares

TABLE OF CONTENTS

					SEC Form 10-Q Reference Number
FORWARD-LOOKING STATEMENTS				iii
GLOSSARY				v
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS				2	Part I, Item 2
	MANAGEMENT OVERVIEW			2
		Highlights of Operating Results		2
		2015 General Rate Case		3
		Capital Program		3
		San Onofre Proceedings, Recoveries, and Decommissioning		4
		Labor Contract Negotiation		6
	RESULTS OF OPERATIONS			6
	Southern California Edison Company			6
		Three months ended June 30, 2015 versus June 30, 2014		7
			Utility Earning Activities	7
			Utility Cost-Recovery Activities	8
		Six months ended June 30, 2015 versus June 30, 2014		9
			Utility Earnings Activities	9
			Utility Cost-Recovery Activities	10
	Supplemental Operating Revenue Information			10
	Income Taxes			10
	Edison International Parent and Other			11
		Income from Continuing Operations		11
		Income from Discontinued Operations (Net of Tax)		11
	LIQUIDITY AND CAPITAL RESOURCES			11
	Southern California Edison Company			11
		Available Liquidity		11
		Regulatory Proceedings		12
		Capital Investment Plan		12
		Dividend Restrictions		12
		Margin and Collateral Deposits		12
	Edison International Parent and Other			13
	Historical Cash Flows			13
		Southern California Edison Company		13
		Edison International Parent and Other		16
	Contingencies			16
		Environmental Remediation		16
	MARKET RISK EXPOSURES			17
	Commodity Price Risk			17
	Credit Risk			17
	CRITICAL ACCOUNTING ESTIMATES AND POLICIES			17
	NEW ACCOUNTING GUIDANCE			17
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK				17	Part I, Item 3

i

FINANCIAL STATEMENTS			18	Part I, Item 1
	Edison International Consolidated Statements of Income		18
	Edison International Consolidated Statements of Comprehensive Income		19
	Edison International Consolidated Balance Sheets		20
	Edison International Consolidated Statements of Cash Flows		22
	SCE Consolidated Statements of Income		23
	SCE Consolidated Statements of Comprehensive Income		23
	SCE Consolidated Balance Sheets		24
	SCE Consolidated Statements of Cash Flows		26
	NOTES TO CONSOLIDATED FINANCIAL STATEMENTS		27
		Note 1. Summary of Significant Accounting Policies	27
		Note 2. Consolidated Statements of Changes in Equity	29
		Note 3. Variable Interest Entities	30
		Note 4. Fair Value Measurements	32
		Note 5. Debt and Credit Agreements	36
		Note 6. Derivative Instruments	37
		Note 7. Income Taxes	39
		Note 8. Compensation and Benefit Plans	40
		Note 9. Investments	43
		Note 10. Regulatory Assets and Liabilities	44
		Note 11. Commitments and Contingencies	45
		Note 12. Accumulated Other Comprehensive Loss	49
		Note 13. Interest and Other Income and Other Expenses	50
		Note 14. Discontinued Operations	50
		Note 15. Supplemental Cash Flows Information	51
CONTROLS AND PROCEDURES			52	Part I, Item 4
	Disclosure Controls and Procedures		52
	Changes in Internal Control Over Financial Reporting		52
	Jointly Owned Utility Plant		52
LEGAL PROCEEDINGS			52	Part II, Item 1
UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS			53	Part II, Item 2
	Purchases of Equity Securities by Edison International and Affiliated Purchasers		53
EXHIBITS			54	Part II, Item 6
SIGNATURES			55

This is a combined Form 10-Q separately filed by Edison International and Southern California Edison Company. Information contained herein relating to an individual company is filed by such company on its own behalf. Each company makes representations only as to itself and makes no other representation whatsoever as to any other company.

ii

FORWARD-LOOKING STATEMENTS

This quarterly report on Form 10-Q contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect Edison International's and SCE's current expectations and projections about future events based on Edison International's and SCE's knowledge of present facts and circumstances and assumptions about future events and include any statement that does not directly relate to a historical or current fact. Other information distributed by Edison International and SCE that is incorporated in this report, or that refers to or incorporates this report, may also contain forward-looking statements. In this report and elsewhere, the words "expects," "believes," "anticipates," "estimates," "projects," "intends," "plans," "probable," "may," "will," "could," "would," "should," and variations of such words and similar expressions, or discussions of strategy or of plans, are intended to identify forward-looking statements. Such statements necessarily involve risks and uncertainties that could cause actual results to differ materially from those anticipated. Some of the risks, uncertainties and other important factors that could cause results to differ from those currently expected, or that otherwise could impact Edison International and SCE, include, but are not limited to the:

• ability of SCE to recover its costs in a timely manner from its customers through regulated rates, including regulatory assets related to San Onofre and undercollection of fuel and purchased power costs;

• decisions and other actions by the CPUC, the FERC, the NRC and other regulatory authorities, including determinations of authorized rates of return or return on equity, and delays in regulatory actions;

• ability of Edison International or its subsidiaries to borrow funds and access the capital markets on reasonable terms;

• possible customer bypass or departure due to technological advancements, federal and state subsidies, or cumulative rate impacts that make self-generation or use of alternative energy sources economically viable;

• risks inherent in the construction of transmission and distribution infrastructure replacement and expansion projects, including those related to project site identification, public opposition, environmental mitigation, construction, permitting, power curtailment costs (payments due under power contracts in the event there is insufficient transmission to enable the acceptance of power delivery), and governmental approvals;

• risks associated with the operation of transmission and distribution assets and power generating facilities including: public safety issues, failure, availability, efficiency, and output of equipment and availability and cost of spare parts;

• risks associated with the retirement and decommissioning of nuclear generating facilities;

• physical security of SCE's critical assets and personnel and the cyber security of SCE's critical information technology systems for grid control, and business and customer data;

• cost and availability of electricity, including the ability to procure sufficient resources to meet expected customer needs in the event of power plant outages or significant counterparty defaults under power-purchase agreements;

• environmental laws and regulations, at both the state and federal levels, or changes in the application of those laws, that could require additional expenditures or otherwise affect the cost and manner of doing business;

• changes in the fair value of investments and other assets;

• changes in interest rates and rates of inflation, including escalation rates, which may be adjusted by public utility regulators;

• governmental, statutory, regulatory or administrative changes or initiatives affecting the electricity industry, including market structure rules applicable to each market adopted by the California Independent System Operator, WECC, NERC, and adjoining regions;

• availability and creditworthiness of counterparties and the resulting effects on liquidity in the power and fuel markets and/or the ability of counterparties to pay amounts owed in excess of collateral provided in support of their obligations;

• cost and availability of labor, equipment and materials;

• ability to obtain sufficient insurance, including insurance relating to SCE's nuclear facilities and wildfire-related liability, and to recover the costs of such insurance or in the absence of insurance the ability to recover uninsured losses;

• effects of legal proceedings, changes in or interpretations of tax laws, rates or policies;

• potential for penalties or disallowances caused by non-compliance with applicable laws and regulations;

iii

• cost and availability of fuel for generating facilities and related transportation to the extent not recovered through regulated rate cost escalation provisions or balancing accounts;

• extent of technological change in the generation, storage, transmission, distribution and use of electricity;

• risk that competing transmission systems will be built by merchant transmission providers in SCE's service area; and

• weather conditions and natural disasters.

Additional information about risks and uncertainties, including more detail about the factors described above, is contained throughout this MD&A and in Edison International's and SCE's combined 2014 Form 10-K, including the "Risk Factors" section. Readers are urged to read this entire report, including the information incorporated by reference, as well as the 2014 Form 10-K, and carefully consider the risks, uncertainties and other factors that affect Edison International's and SCE's businesses. Forward-looking statements speak only as of the date they are made and neither Edison International nor SCE are obligated to publicly update or revise forward-looking statements. Readers should review future reports filed by Edison International and SCE with the SEC.

The MD&A for the six months ended June 30, 2015 discusses material changes in the consolidated financial condition, results of operations and other developments of Edison International and SCE since December 31, 2014, and as compared to the six months ended June 30, 2014. This discussion presumes that the reader has read or has access to Edison International's and SCE's MD&A for the calendar year 2014 (the "year-ended 2014 MD&A"), which was included in the 2014 Form 10-K.

Except when otherwise stated, references to each of Edison International, SCE, EMG, Edison Energy Group, EME or Edison Capital mean each such company with its subsidiaries on a consolidated basis. References to "Edison International Parent and Other" mean Edison International Parent and its consolidated non-utility subsidiaries.

iv

GLOSSARY

The following terms and abbreviations appearing in the text of this report have the meanings indicated below.

Amended Plan of Reorganization	EME Chapter 11 Bankruptcy Plan of Reorganization as amended to incorporate the terms of the Settlement Agreement, dated February 19, 2014
AFUDC	allowance for funds used during construction
2014 Form 10-K	Edison International's and SCE's combined Annual Report on Form 10-K for the year-ended December 31, 2014
ALJ	administrative law judge
APS	Arizona Public Service Company
ARO(s)	asset retirement obligation(s)
Bcf	billion cubic feet
CAA	Clean Air Act
CAISO	California Independent System Operator
CARB	California Air Resources Board
CPUC	California Public Utilities Commission
CRRs	congestion revenue rights
DOE	U.S. Department of Energy
Edison Energy Group	Edison International's subsidiary that holds interests in competitive businesses related to the generation, delivery, or use of electricity, formerly named Edison Energy, Inc.
EME	Edison Mission Energy
EME Settlement Agreement	Settlement Agreement entered into by Edison International, EME, and the Consenting Noteholders in February 2014
EMG	Edison Mission Group Inc.
EPS	earnings per share
ERRA	energy resource recovery account
FERC	Federal Energy Regulatory Commission
Four Corners	coal fueled electric generating facility located in Farmington, New Mexico in which SCE held a 48% ownership interest
GAAP	generally accepted accounting principles
GHG	greenhouse gas
GRC	general rate case
GWh	gigawatt-hours
HLBV	hypothetical liquidation at book value
IRS	Internal Revenue Service
ISO	Independent System Operator
MD&A	Management's Discussion and Analysis of Financial Condition and Results of Operations in this report
MHI	Mitsubishi Heavy Industries, Ltd. and a related company
Moody's	Moody's Investors Service
MW	megawatts
MWh	megawatt-hours
NAAQS	national ambient air quality standards
NDTCP	Nuclear Decommissioning Trust Costs Proceeding
NERC	North American Electric Reliability Corporation
Ninth Circuit	Ninth Circuit Court of Appeals
NRC	Nuclear Regulatory Commission
ORA	CPUC's Office of Ratepayers Advocates
OII	Order Instituting Investigation
Palo Verde	large pressurized water nuclear electric generating facility located near Phoenix, Arizona in which SCE holds a 15.8% ownership interest

v

PBOP(s)	postretirement benefits other than pension(s)
PG&E	Pacific Gas & Electric Company
QF(s)	qualifying facility(ies)
ROE	return on common equity
S&P	Standard & Poor's Ratings Services
San Onofre	retired nuclear generating facility located in south San Clemente, California in which SCE holds a 78.21% ownership interest
San Onofre OII Settlement Agreement	Settlement Agreement by and among SCE, The Utility Reform Network, the CPUC's Office of Ratepayer Advocates and SDG&E, which was later joined by the Coalition of California Utility Employees and Friends of the Earth, (together, the "Settling Parties"), dated November 20, 2014
SCE	Southern California Edison Company
SDG&E	San Diego Gas & Electric
SEC	U.S. Securities and Exchange Commission
SED	Safety and Enforcement Division of the CPUC, formerly known as the Consumer Protection and Safety Division or CPSD
US EPA	U.S. Environmental Protection Agency
VIE(s)	variable interest entity(ies)
WECC	Western Electric Coordinating Council

vi

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1

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT OVERVIEW

Highlights of Operating Results

Edison International is the parent holding company of SCE. SCE is a public utility primarily engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. Edison International is also the parent company of Edison Energy Group, a subsidiary that holds interests in competitive businesses that are related to the generation, delivery, or use of electricity. Such competitive business activities are currently not material to report as a separate business segment. References to Edison International refer to the consolidated group of Edison International and its subsidiaries. References to Edison International Parent and Other refer to Edison International Parent, Edison Energy Group, and other subsidiaries. Unless otherwise described, all of the information contained in this report relates to both filers.

	Three months ended June 30,									Six months ended June 30,
(in millions)	2015			2014			Change			2015			2014			Change
Net income (loss) attributable to Edison International
Continuing operations
SCE	$	384		$	362		$	22		$	689		$	570		$	119
Edison International Parent and Other	(5		)	(10		)	5			(11		)	(20		)	9
Discontinued operations	—			184			(184		)	—			162			(162		)
Edison International	379			536			(157		)	678			712			(34		)
Less: Non-core items
SCE	—			—			—			—			(96		)	96
Edison International Parent and Other	1			—			1			6			—			6
Discontinued operations	—			184			(184		)	—			162			(162		)
Total non-core items	1			184			(183		)	6			66			(60		)
Core earnings (losses)
SCE	384			362			22			689			666			23
Edison International Parent and Other	(6		)	(10		)	4			(17		)	(20		)	3
Edison International	$	378		$	352		$	26		$	672		$	646		$	26

Edison International's earnings are prepared in accordance with GAAP used in the United States. Management uses core earnings internally for financial planning and for analysis of performance. Core earnings (losses) are also used when communicating with investors and analysts regarding Edison International's earnings results to facilitate comparisons of the Company's performance from period to period. Core earnings (losses) are a non-GAAP financial measure and may not be comparable to those of other companies. Core earnings (losses) are defined as earnings attributable to Edison International shareholders less income or loss from discontinued operations, income resulting from allocation of losses to tax equity investors under the hypothetical liquidation at book value ("HLBV") accounting method and income or loss from significant discrete items that management does not consider representative of ongoing earnings, such as: exit activities, including sale of certain assets and other activities that are no longer continuing; asset impairments and certain tax, regulatory or legal settlements or proceedings.

SCE's core earnings for the second quarter and six months ended June 30, 2015 were higher than the respective periods in 2014 primarily due to higher income tax benefits, FERC-related revenue from rate base growth and earnings on funds used during construction partially offset by lower other income.

During the second quarter of 2015, SCE recorded $100 million of income tax benefits from revisions to liabilities for uncertain tax positions for tax years 2010 through 2012. These benefits were partially offset by changes in estimated taxes related to net operating loss carrybacks, interest and state income taxes. During the second quarter of 2014, SCE recorded $29 million of income tax benefits from revisions to liabilities for uncertain tax positions and $14 million ($9 million after-tax) of benefits related to generator settlements.

2

During the first half of 2015, SCE recognized revenue from CPUC activities largely based on 2014 authorized base revenue requirements included in customer rates. The revenue requirement ultimately adopted by the CPUC will be retroactive to January 1, 2015.

Consolidated non-core items included:

• Impairment and other charges of $231 million ($96 million after-tax) in the first quarter of 2014 related to the San Onofre OII Settlement Agreement (as discussed below). For further information, see "—San Onofre Proceedings, Recoveries, and Decommissioning."

• Income of $184 million during the second quarter of 2014 related to the estimated impact of the transactions called for in the EME Settlement. In addition, Edison International recorded an income tax loss of $22 million for the first quarter of 2014 from revised estimates of the tax impact of a tax deconsolidation of EME from Edison International as originally contemplated prior to the EME Settlement. See 2014 Form 10-K, "Management Overview—Resolution of Uncertainty Related to EME in Bankruptcy."

• Income of $1 million and $6 million for the three and six months ended June 30, 2015, respectively, related to losses allocated to tax equity investors under the HLBV accounting method. Edison International reflected in core earnings the operating results of the solar rooftop projects, related financings and the priority return to the tax equity investor. The losses allocated to the tax equity investor under HLBV accounting method results in income allocated to subsidiaries of Edison International, neither of which is due to the operating performance of the projects but rather due to the allocation of income tax attributes under the tax equity financing. Accordingly, Edison International has included the non-operating allocation of income as a non-core item. For further information on HLBV, see the 2014 Form 10-K, "Notes to Consolidated Financial Statements—Note 1. Summary of Significant Accounting Policies."

2015 General Rate Case

As discussed in the 2014 10-K, SCE filed its original request for its 2015 GRC in November 2013. The request was updated in May 2015 to $5.512 billion, which would be a $121 million decrease over currently authorized base rate revenue. The updated base rate revenue requirement request would propose post-test year increases in 2016 and 2017 of $236 million and $320 million, respectively. The May 2015 update included revised tax estimates for the flow-through tax repair benefits related to SCE's pole replacement programs under a proposed balancing account designed to capture the actual net impact of the programs on the revenue requirement and to apply a higher tax repair eligible percentage to these programs. During the first six months of 2015, SCE deferred $85 million of the 2014 authorized base rate revenue requirement. See "Results of Operations—SCE" for further discussion. The CPUC has approved the establishment of a GRC memorandum account, which will make the 2015 revenue requirement ultimately adopted by the CPUC effective as of January 1, 2015. SCE cannot predict the revenue requirement the CPUC will ultimately authorize or forecast the timing of a final decision.

Capital Program

During the first six months of 2015, SCE's capital expenditures were primarily on projects designed for maintaining reliability and expanding the capability of SCE's transmission and distribution system; and upgrading and constructing new transmission lines and substations for system reliability and increased access to renewable energy. Total capital expenditures (including accruals) were $1.7 billion and $1.6 billion for the first six months of 2015 and 2014, respectively.

During first quarter 2015, SCE reduced its capital expenditures forecast for 2015 – 2017 by approximately $325 million to be in the range of $11.5 billion to $13.1 billion, including $3.6 billion to $4.1 billion for 2015. The update reflects a reduction in capital expenditures related to the Coolwater-Lugo Transmission Project (for more information, see "—Liquidity and Capital Resources—SCE—Capital Investment Plan") and revisions to the timing of capital spending. Actual capital spending will be affected by: changes in regulatory, environmental and engineering design requirements; permitting and project delays; cost and availability of labor, equipment and materials; and other factors.

3

Distribution Resources Plan

As discussed in the 2014 Form 10-K, to support California's greenhouse gas reduction targets, modernize the electric distribution system to accommodate two-way flows of energy, and facilitate customer choice of new technologies and services that reduce emissions and improve resilience, the CPUC initiated a rulemaking to establish policies, procedures and rules to guide investor owned utilities in developing a Distribution Resources Plan ("DRP") proposal. On July 1, 2015, SCE filed its DRP with the CPUC, which included an indicative forecast of capital investment in distribution automation, substation automation, communications systems, technology platforms and applications, and grid reinforcement. Subject to future CPUC guidance, SCE anticipates integrating authorization for revenue to support DRP operation and maintenance and capital spending into future general rate cases, beginning with its 2018 – 2020 GRC, which is expected to be filed on or about September 1, 2016. Capital investments for 2015 – 2017 are expected to be within the range of the three-year capital investments forecast indicated above. Such plans may be updated or revised based on developments and guidance received from the CPUC as a part of the DRP rule making, technology availability, pace of distributed energy resource adoption, and other factors.

Significant capital investment will be required to modernize and reinforce SCE's distribution grid consistent with the DRP recommendations, in addition to continued distribution system reliability investment, anticipated electric vehicle and storage investments, continued transmission and generation capital investment and potential improvements in capital spending productivity. SCE expects overall capital spending to continue at least in the range of current capital spending forecasts, although the CPUC's approval in future general rate cases of all or part of the capital investment plan supporting SCE's DRP filing could result in higher spending. All of these capital investments will be subject to CPUC review and approval. The timing and amount of capital investments may vary depending upon implementation decisions, including scope and pace of adoption and GRC ratemaking decisions and other CPUC actions.

San Onofre Proceedings, Recoveries, and Decommissioning

As discussed in the 2014 Form 10-K, in November 2014, the CPUC approved the San Onofre OII Settlement Agreement that SCE had entered into with TURN, ORA, SDG&E, the Coalition of California Utility Employees, and Friends of the Earth. The San Onofre OII Settlement Agreement resolved the CPUC's investigation regarding the Steam Generator Replacement Project at San Onofre and the related outages and subsequent shutdown of San Onofre. The San Onofre OII Settlement Agreement does not affect proceedings related to recoveries from third parties, but does describe how shareholders and customers will share any potential recoveries. For further discussion of third party recoveries, including claims against MHI and under the NEIL outage and property damage insurance, see "Notes to Consolidated Financial Statements—Note 11. Commitments and Contingencies—Contingencies—San Onofre Related Matters."

A federal lawsuit challenging the CPUC's authority to permit rate recovery of San Onofre costs and an application to the CPUC for rehearing of its decision approving the San Onofre OII Settlement Agreement were filed in November and December 2014, respectively. In April 2015, the federal lawsuit was dismissed with prejudice and the plaintiffs in that case appealed the dismissal to the Ninth Circuit in May 2015. Both the appeal and the application for rehearing remain pending.

In February 2015, SCE filed in the OII proceeding a Late-Filed Notice of Ex Parte Communication regarding a meeting in March 2013 between an SCE senior executive and the president of the CPUC, both of whom have since retired from their respective positions. Following this filing, the Alliance for Nuclear Responsibility ("A4NR"), one of the intervenors in the OII, filed a motion requesting that the CPUC institute an investigation into whether sanctions should be imposed on SCE for the late notice of the March 2013 meeting. The motion requests that the CPUC order SCE to produce all ex parte communications between SCE and the CPUC or its staff since January 31, 2012 and all internal SCE unprivileged communications that discuss such ex parte communications. On May 6, 2015, A4NR amended its motion to recommend that the CPUC impose a $38.2 million penalty on SCE and additional restrictions on ex parte communications.

On April 14, 2015, the OII ALJs ordered SCE, among other things, to produce unprivileged documents pertaining to oral and written communications regarding the possible settlement of the OII proceeding between any SCE employee and CPUC decision makers from March 2013 to November 2014. SCE produced responsive documents and information on April 29, 2015. On June 26, 2015, the ALJs requested additional information, which SCE provided on July 3, 2015. Subsequently, another intervenor, the Coalition to Decommission San Onofre, filed a motion to move the start date for the production of documents under the CPUC's order to January 31, 2012 and to authorize the intervenors to conduct discovery of SCE. That motion remains pending.

4

On April 17, 2015, ORA and TURN issued press releases asking the CPUC to impose penalties on SCE as a sanction for allegedly improper ex parte communications pertaining to San Onofre or failures to report such communications. ORA recommended penalties in the amount of $648 million, representing ORA's calculation of the difference in ratepayer value between ORA's initial settlement negotiating position in the San Onofre OII and the approved settlement. TURN did not recommend a penalty amount.

On April 27, 2015, A4NR filed a petition to modify the CPUC's decision approving the San Onofre OII Settlement Agreement based on SCE's alleged failures to disclose communications between SCE and CPUC decision-makers pertaining to the issues in the San Onofre OII. The petition seeks the reversal of the decision approving the San Onofre OII Settlement Agreement and reopening of the OII proceeding. Subsequently, TURN filed a response supporting A4NR's petition to reopen the San Onofre OII proceeding.

On July 6, 2015, a purported securities class action lawsuit was filed in federal court against Edison International, its CEO and CFO. The lawsuit alleges that the defendants violated the securities laws by failing to disclose that Edison International's ex parte contacts with CPUC decision-makers were more extensive than initially reported. The complaint purports to be filed on behalf of a class of persons who acquired Edison International common stock between July 31, 2014 and June 24, 2015.

Subsequently, a federal shareholder derivative lawsuit was filed against members of the Edison International Board of Directors for breach of fiduciary duty and other claims based on similar allegations to the federal securities lawsuit. The derivative lawsuit seeks monetary damages, including punitive damages, and various corporate governance reforms.

SCE has produced and is producing documents and is otherwise cooperating with criminal investigations being conducted by the California Attorney General and the U.S. Department of Justice. While the full scope of the investigations is not known to SCE, SCE's document production and cooperation have included information relating to the settlement of the San Onofre OII and interactions between SCE executives and CPUC decision-makers.

Edison International and SCE cannot predict the outcome of these proceedings.

Rate Impacts

Due to the implementation of the San Onofre OII Settlement Agreement as of December 31, 2014, customers were refunded approximately $540 million through a reduction in SCE's ERRA undercollection. At June 30, 2015, SCE's ERRA undercollection decreased to $543 million. Based on current rates, actual power and gas prices and the reimbursement of San Onofre decommissioning costs pursuant to the San Onofre OII Settlement Agreement, the ERRA undercollection is likely to be fully recovered before year-end 2015.

For further information on 2015 ERRA forecast application, see "Liquidity and Capital Resources—SCE—Regulatory Proceedings—ERRA Forecast Filing – 2015" in the year-ended 2014 MD&A.

Decommissioning

As discussed in the 2014 Form 10-K, SCE decided to permanently retire and decommission San Onofre Units 2 and 3 on June 6, 2013. For further information about the decommissioning cost estimates, see the 2014 Form 10-K under the headings, "Notes to Consolidated Financial Statements—Note 1. Summary of Significant Accounting Policies—Nuclear Decommissioning and Asset Retirement Obligations" and "Management Overview—Permanent Retirement of San Onofre and San Onofre OII Settlement" in the year-ended 2014 MD&A.

SCE has nuclear decommissioning trust funds for San Onofre Units 2 and 3 of $3.4 billion as of June 30, 2015. If the decommissioning cost estimate and assumptions regarding trust performance do not change, SCE believes that future contributions to the trust funds will not be necessary. The CPUC must issue an order granting approval for withdrawal of decommissioning trust funds.

Decommissioning costs incurred in 2013 and 2014 were recorded as operations and maintenance expenses pending the CPUC decision on access to the trusts for reimbursement. Accordingly, such costs were recovered through GRC revenues. Costs incurred for 2013 have been found reasonable under the San Onofre OII Settlement Agreement. The CPUC will conduct a reasonableness review for 2014 costs and years going forward. On July 23, 2015, the CPUC approved SCE's request for access to the nuclear decommissioning trusts for reimbursement of approximately $340 million in 2013 and 2014 Units 2 and 3 decommissioning costs. Under the San Onofre OII Settlement Agreement, any recoveries from the nuclear decommissioning trusts of 2013 and 2014 decommissioning costs funded through GRC revenues must be refunded to customers through ERRA.

5

Beginning in 2015, SCE must fund decommissioning costs (recorded as a reduction of SCE's asset retirement obligation) until the CPUC approves SCE's request to access the trust funds. SCE expects that the CPUC would approve access to the trust in 2015. SCE's share of the decommissioning costs recorded during the first six months of 2015 were approximately $80 million and are estimated to be approximately $150 million for the remainder of 2015.

Depending on the ultimate interpretation of IRS regulations that address the taxation of a qualified nuclear decommissioning trust, SCE may also be restricted from withdrawing amounts from the qualified decommissioning trusts to pay for independent spent fuel storage installation ("ISFSI") where SCE is seeking, or plans to seek, recovery of the ISFSI costs in litigation against the DOE. SCE's share of ISFSI costs for 2015 (included in the above 2015 decommissioning costs estimate) are currently estimated to be approximately $28 million. SCE has filed for a private letter ruling with the IRS to address this matter based on facts and circumstances related to Units 2 and 3 at San Onofre.

Labor Contract Negotiation

Approximately 3,900 of SCE's full-time employees are covered by collective bargaining agreements with the International Brotherhood of Electrical Workers ("IBEW"). The IBEW collective bargaining agreements expired on December 31, 2014 and were under negotiation during the first half of 2015. On June 30, 2015, the majority of IBEW members voted to approve the Benefits Agreement and the Wages and Working Conditions Bargaining Agreement with SCE that include, among other things, pay increases retroactive to January 1, 2015 and modified benefit plans, generally consistent with the proposed 2015 GRC.

RESULTS OF OPERATIONS

Southern California Edison Company

SCE's results of operations are derived mainly through two sources:

• Utility earning activities – representing revenue authorized by the CPUC and FERC which is intended to provide SCE a reasonable opportunity to recover its costs and earn a return on its net investment in generation, transmission and distribution assets. The annual revenue requirements are comprised of authorized operation and maintenance costs, depreciation, taxes and a return consistent with the capital structure. Also, included in utility earnings activities are revenue or penalties related to incentive mechanisms, other operating revenue, and regulatory charges or disallowances.

• Utility cost-recovery activities – representing CPUC- and FERC-authorized balancing accounts which allow for recovery of specific project or program costs, subject to reasonableness review or compliance with upfront standards. Utility cost-recovery activities include rates which provide recovery, subject to reasonableness review of, among other things, fuel costs, purchased power costs, public purpose related-program costs (including energy efficiency and demand-side management programs) and certain operation and maintenance expenses.

During the first six months of 2015, SCE recognized revenue from CPUC activities largely based on 2014 authorized base revenue requirements included in customer rates. SCE deferred $49 million and $85 million of the 2014 authorized base revenue requirement allocated to the second quarter and six month periods of 2015 related to incremental repair deductions pending the outcome of the 2015 GRC. The revenue deferral did not affect net income as the reduction in revenue was offset by lower income taxes. The deferred revenue includes SCE's estimate of the flow-through repair tax benefits related to SCE's proposed balancing account for pole replacement programs in the May update of the 2015 GRC. The CPUC has approved the establishment of a GRC memorandum account, which will make the 2015 revenue requirement ultimately adopted by the CPUC effective as of January 1, 2015. Recognition of the revenue for the period January 1, 2015 through the date of a final decision, as well as changes in authorized depreciation rates and treatment of specific costs, will impact the timing of earnings in 2015. Accordingly, quarterly earnings in 2015 will not be comparable to the same periods in 2014 (see "Management Overview—2015 General Rate Case" for further discussion).

6

The following table is a summary of SCE's results of operations for the periods indicated.

Three months ended June 30, 2015 versus June 30, 2014

	Three months ended June 30, 2015									Three months ended June 30, 2014
(in millions)	Utility Earning Activities			Utility Cost- Recovery Activities			Total Consolidated			Utility Earning Activities			Utility Cost- Recovery Activities			Total Consolidated
Operating revenue	$	1,596		$	1,305		$	2,901		$	1,588		$	1,426		$	3,014
Purchased power and fuel	—			1,078			1,078			—			1,239			1,239
Operation and maintenance	495			229			724			513			184			697
Depreciation, decommissioning and amortization	481			—			481			414			—			414
Property and other taxes	82			—			82			71			—			71
Total operating expenses	1,058			1,307			2,365			998			1,423			2,421
Operating income	538			(2		)	536			590			3			593
Interest expense	(132		)	1			(131		)	(131		)	(3		)	(134		)
Other income and expenses	13			1			14			31			—			31
Income before income taxes	419			—			419			490			—			490
Income tax expense	7			—			7			98			—			98
Net income	412			—			412			392			—			392
Preferred and preference stock dividend requirements	28			—			28			30			—			30
Net income available for common stock	$	384		$	—		$	384		$	362		$	—		$	362
Core earnings1							$	384								$	362
Non-core earnings							—									—
Total SCE GAAP earnings							$	384								$	362

¹  See use of non-GAAP financial measures in "Management Overview—Highlights of Operating Results."

Utility Earning Activities

Utility earning activities were primarily affected by the following:

• Higher operating revenue of $8 million primarily due to the following:

• An increase in FERC-related revenue of $25 million primarily related to rate base growth and higher operating costs. During the second quarter of 2015 and 2014, SCE recorded $15 million and $19 million, respectively, of additional revenue from a change in estimate under the FERC formula rate mechanism.

• A decrease in CPUC-related revenue of $20 million primarily due to the revenue deferral of $49 million, as discussed above, partially offset by a net increase in San Onofre-related revenue of $25 million due to the implementation of the San Onofre OII Settlement Agreement. Revenue for San Onofre during the second quarter of 2015 primarily related to recovery of amortization of the regulatory asset and authorized return as provided by the San Onofre Settlement Agreement compared to revenue during the second quarter of 2014 related to recovery of San Onofre's cost of service. See "Management Overview—San Onofre Proceedings, Recoveries, and Decommissioning" above for more information.

• Lower operation and maintenance expense of $18 million primarily due to San Onofre-related expense of $15 million in the second quarter of 2014 partially offset by higher severance costs. Beginning January 1, 2015, expense related to San Onofre has been classified as decommissioning costs and recorded as a reduction to SCE's asset retirement obligation.

In addition, during the second quarter of 2015 and 2014, SCE incurred severance costs related to workforce reductions of $10 million and $8 million, respectively.

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• Higher depreciation, decommissioning and amortization expense of $67 million primarily due to San Onofre-related expense of $37 million in 2015 related to the amortization of the regulatory asset and a $30 million increase in depreciation primarily related to transmission and distribution investments. In accordance with the San Onofre OII Settlement Agreement, SCE is authorized to recover in rates its San Onofre regulatory asset over a ten-year period. For further information on the San Onofre regulatory asset, see the 2014 Form 10-K, "Management Overview—Permanent Retirement of San Onofre and San Onofre OII Settlement" and "Notes to Consolidated Financial Statements—Note 10. Regulatory Assets and Liabilities."

• Lower other income and expenses of $18 million primarily due to $14 million of generator settlements and $5 million of higher insurance benefits in 2014, partially offset by higher AFUDC equity income related to a higher rate and higher construction work in progress balances in 2015. See "Notes to Consolidated Financial Statements—Note 13. Interest and Other Income and Other Expenses" for more information on generator settlements.

• Lower income taxes of $91 million primarily due to a change in liabilities related to uncertain tax positions and higher income tax benefits related to repair deductions. During the second quarter of 2015 and 2014, SCE revised its liability for uncertain tax positions related to repair deductions which resulted in income tax benefits of $100 million and $29 million, respectively. See "—Income Taxes" below for more information.

Utility Cost-Recovery Activities

Utility cost-recovery activities were primarily affected by the following:

• Lower purchased power and fuel of $161 million primarily driven by lower power and gas prices experienced in 2015 relative to 2014, reduced customer sales from cooler weather in the second quarter of 2015 compared to the same period in 2014 and the CAISO generation surcharge of $83 million in 2014 (as discussed below), partially offset by generator settlements in 2014 (See "Notes to Consolidated Financial Statements—Note 13. Interest and Other Income and Other Expenses" for more information). During the second quarter of 2014, the CAISO issued invoices implementing a FERC order which revised FERC tariffs for costs associated with scheduling coordinator activities. The impact of implementing the order and revised invoices resulted in a transmission refund of $106 million reflected in operation and maintenance expense and a generation surcharge of $83 million reflected in purchased power expense. These transactions did not impact earnings as the net refund was provided to customers through a FERC balancing account mechanism. Fuel costs were $32 million and $71 million for the three months ended June 30, 2015 and 2014, respectively.

• Higher operation and maintenance expense of $45 million primarily due to the CAISO refund of $106 million mentioned above, partially offset by lower spending on various public purpose programs, lower pension expenses and a decrease in transmission access charges.

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The following table is a summary of SCE's results of operations for the periods indicated.

Six months ended June 30, 2015 versus June 30, 2014

	Six months ended June 30, 2015									Six months ended June 30, 2014
(in millions)	Utility Earning Activities			Utility Cost- Recovery Activities			Total Consolidated			Utility Earning Activities			Utility Cost- Recovery Activities			Total Consolidated
Operating revenue	$	3,159		$	2,250		$	5,409		$	3,139		$	2,799		$	5,938
Purchased power and fuel	—			1,864			1,864			—			2,382			2,382
Operation and maintenance	958			388			1,346			995			415			1,410
Depreciation, decommissioning and amortization	943			—			943			824			—			824
Property and other taxes	170			—			170			156			—			156
Impairment and other charges	—			—			—			231			—			231
Total operating expenses	2,071			2,252			4,323			2,206			2,797			5,003
Operating income	1,088			(2		)	1,086			933			2			935
Interest expense	(267		)	1			(266		)	(266		)	(3		)	(269		)
Other income and expenses	39			1			40			45			1			46
Income before income taxes	860			—			860			712			—			712
Income tax expense	115			—			115			86			—			86
Net income	745			—			745			626			—			626
Preferred and preference stock dividend requirements	56			—			56			56			—			56
Net income available for common stock	$	689		$	—		$	689		$	570		$	—		$	570
Core earnings1							$	689								$	666
Non-core earnings							—									(96		)
Total SCE GAAP earnings							$	689								$	570

¹  See use of non-GAAP financial measures in "Management Overview—Highlights of Operating Results."

Utility Earning Activities

Utility earning activities were primarily affected by the following:

• Higher operating revenue of $20 million primarily due to the following:

• An increase in FERC-related revenue of $60 million primarily related to rate base growth and higher operating costs.

• A decrease in CPUC-related revenue of $45 million primarily due to the revenue deferral of $85 million, as discussed above, partially offset by a net increase in San Onofre-related revenue of $34 million due to the implementation of the San Onofre OII Settlement Agreement. Revenue for San Onofre during the six months ended June 30, 2015 primarily related to recovery of amortization of the regulatory asset and authorized return as provided by the San Onofre Settlement Agreement compared to revenue during the six months ended June 30, 2014 related to recovery of San Onofre's cost of service. See "Management Overview—San Onofre Proceedings, Recoveries, and Decommissioning" above for more information.

• Lower operation and maintenance expense of $37 million primarily due to San Onofre-related expense of $41 million for the six months ended June 30, 2014. Beginning January 1, 2015, expense related to San Onofre has been classified as decommissioning costs and recorded as a reduction to SCE's asset retirement obligation.

• Higher depreciation, decommissioning and amortization expense of $119 million primarily due to San Onofre-related expense of $69 million in 2015 related to the amortization of the regulatory asset and a $50 million increase in depreciation primarily related to transmission and distribution investments.

• Impairment and other charges of $231 million in the first quarter of 2014 related to the San Onofre OII Settlement Agreement. For further information, see "Management Overview—San Onofre Proceedings, Recoveries, and Decommissioning."

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• Lower other income and expenses of $6 million primarily due to $14 million of generator settlements in 2014 and lower interest and other income, partially offset by higher AFUDC equity income related to a higher rate and higher construction work in progress balances in 2015. See "Notes to Consolidated Financial Statements—Note 13. Interest and Other Income and Other Expenses" for more information on generator settlements.

• Higher income taxes of $29 million primarily due to lower pre-tax income in 2014 due to the San Onofre Settlement Agreement partially offset by a change in liabilities related to uncertain tax positions during the second quarters of 2015 and 2014 discussed above and higher income tax benefits in 2015 related to repair deductions. See "—Income Taxes" below for more information.

Utility Cost-Recovery Activities

Utility cost-recovery activities were primarily affected by the following:

• Lower purchased power and fuel of $518 million primarily driven by lower power and gas prices experienced in 2015 relative to 2014, reduced customer sales from cooler weather in 2015 compared to the same period in 2014 and the CAISO generation surcharge of $83 million in 2014, partially offset by generator settlements in 2014 (See "Notes to Consolidated Financial Statements—Note 13. Interest and Other Income and Other Expenses" for more information). As discussed above, the CAISO issued invoices in 2014 implementing a FERC order which revised FERC tariffs for costs associated with scheduling coordinator activities. The impact of implementing the order and revised invoices resulted in a transmission refund of $106 million reflected in operation and maintenance expense and a generation surcharge of $83 million reflected in purchased power expense. These transactions did not impact earnings as the net refund was provided to customers through a FERC balancing account mechanism. Fuel costs were $75 million and $143 million for the six months ended June 30, 2015 and 2014, respectively.

• Lower operation and maintenance expense of $27 million primarily due to lower spending on various public purpose programs, lower pension expenses and a decrease in transmission access charges, partially offset by the CAISO refund of $106 million mentioned above.

Supplemental Operating Revenue Information

SCE's retail billed and unbilled revenue (excluding wholesale sales and balancing account overcollections/undercollections) was $2.8 billion and $5.4 billion for the three and six months ended June 30, 2015, respectively, compared to $2.9 billion and $5.2 billion for the respective periods in 2014. The revenue reflects:

• Retail billed and unbilled revenue reflects a sales volume decrease of $112 million and $86 million for the three and six months ended June 30, 2015, respectively, primarily due to lower load requirements related to cooler weather experienced in 2015 compared to the same period last year.

• A rate increase of $48 million and $229 million for the three and six months ended June 30, 2015, respectively, primarily due to the implementation of the 2014 ERRA rate increase in June 2014.

As a result of the CPUC-authorized decoupling mechanism, SCE earnings are not affected by changes in retail electricity sales (see "Business—SCE—Overview of Ratemaking Process" in the 2014 Form 10-K).

Income Taxes

SCE's income tax provision decreased by $91 million and increased by $29 million for the three and six months ended June 30, 2015, respectively, compared to the same periods in 2014.

The effective tax rates were 1.7% and 20.0% for the three months ended June 30, 2015 and 2014, respectively. The effective tax rate decrease was primarily due to a change in liabilities related to uncertain tax positions discussed above and higher income tax benefits related to repair deductions.

The effective tax rates were 13.4% and 12.1% for the six months ended June 30, 2015 and 2014, respectively. The effective tax rate increase was primarily due to income tax benefits in 2014 related to the San Onofre OII Settlement Agreement, partially offset by the change in liabilities related to uncertain tax positions discussed above and higher income tax benefits related to repair deductions. See "Management Overview—San Onofre Proceedings, Recoveries, and Decommissioning" above for more information.

See "Notes to Consolidated Financial Statements—Note 7. Income Taxes" for a reconciliation of the federal statutory rate of 35% to the effective income tax rates.

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Edison International Parent and Other

Results of operations for Edison International Parent and Other include amounts from other Edison International subsidiaries that are not significant as a reportable segment, as well as intercompany eliminations.

Income from Continuing Operations

The following table summarizes the results of Edison International Parent and Other:

	Three months ended June 30,						Six months ended June 30,
(in millions)	2015			2014			2015			2014
Edison Energy Group and subsidiaries	$	(2	)	$	(2	)	$	—		$	(4	)
Edison Mission Group and subsidiaries	8			6			11			7
Corporate expenses and Other	(11		)	(14		)	(22		)	(23		)
Total Edison International Parent and Other	$	(5	)	$	(10	)	$	(11	)	$	(20	)

The loss from continuing operations of Edison International Parent and Other decreased $5 million and $9 million for the three and six months ended June 30, 2015, respectively, compared to the same periods in 2014 primarily due to:

• A decrease in the loss of Edison International Parent and Other primarily due to lower corporate expenses.

• An increase in income from EMG and subsidiaries of $2 million and $4 million for the three and six months ended June 30, 2015, respectively, primarily due to higher income from affordable housing projects, including asset sales and income tax benefits. EMG’s subsidiary, Edison Capital, continues to wind down its remaining affordable housing investments. Earnings from Edison Capital were $7 million and $9 million for three and six months ended June 30, 2015, respectively, compared to $3 million and $4 million for the respective periods in 2014.

• An increase in income allocated to subsidiaries of Edison Energy Group under the HLBV accounting method that resulted in losses allocated to tax equity investors ($1 million and $6 million after-tax for the three and six months ended June 30, 2015, respectively) offset by higher operating expenses. For further information, see the 2014 Form 10-K, "Notes to Consolidated Financial Statements—Note 1. Summary of Significant Accounting Policies" and "Management Overview—Highlights of Operating Results."

Income from Discontinued Operations (Net of Tax)

Income from discontinued operations, net of tax, was $184 million and $162 million for the three and six months ended June 30, 2014, respectively. The 2014 income was primarily due to the completion of the Amended Plan of Reorganization, including transactions recorded in the second quarter of 2014 associated with the sale of substantially all of EME's assets to NRG Energy, Inc. and other transactions called for in the EME Settlement. See 2014 Form 10-K, "Management Overview—Resolution of Uncertainty Related to EME in Bankruptcy."

LIQUIDITY AND CAPITAL RESOURCES

Southern California Edison Company

SCE's ability to operate its business, fund capital expenditures, and implement its business strategy is dependent upon its cash flow and access to the capital markets. SCE's overall cash flows fluctuate based on, among other things, its ability to recover its costs in a timely manner from its customers through regulated rates, changes in commodity prices and volumes, collateral requirements, interest obligations and dividend payments to Edison International, and the outcome of tax and regulatory matters.

SCE expects to fund its 2015 obligations, capital expenditures and dividends through operating cash flows, and capital market financings of debt and preferred equity, as needed. SCE also has availability under its credit facilities to fund liquidity requirements.

Available Liquidity

At June 30, 2015, SCE had $1.78 billion available under its $2.75 billion multi-year revolving credit facility. For further details, see "Notes to Consolidated Financial Statements—Note 5. Debt and Credit Agreements."

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Debt Covenant

The debt covenant in SCE's credit facility limits its debt to total capitalization ratio to less than or equal to 0.65 to 1. At June 30, 2015, SCE's debt to total capitalization ratio was 0.46 to 1.

Regulatory Proceedings

FERC Formula Rates

In June 2015, SCE provided its preliminary 2016 annual transmission revenue requirement update to interested parties. The update provided support for an increase in SCE's transmission revenue requirement of $188 million or 21% over amounts currently authorized in rates. The increase is mainly due to the completion of several major transmission projects in 2014 and the completion in 2014 of refunds from an over-recovery in 2013. SCE expects to file its 2016 annual update with the FERC by December 1, 2015 and the proposed rates would be effective from January 1, 2016.

Capital Investment Plan

Transmission Projects

Coolwater-Lugo Transmission Project

The Coolwater-Lugo Project would provide additional 220 kV transmission capacity in the Kramer Junction and Lucerne Valley areas of San Bernardino County. In March 2015, the CAISO filed comments with the CPUC stating that the Coolwater-Lugo project is not necessary to provide full capacity deliverability and requested that the CPUC suspend its approval proceeding for the project. In May 2015, the CPUC issued a final decision that dismissed the approval proceeding but would allow SCE to apply for new approval if future studies determine that there is residual need for any elements of the project. SCE's capital expenditures for the Coolwater-Lugo project were estimated to be $740 million, of which $584 million was for the 2015 – 2017 period, and have been removed from the capital expenditure forecast. SCE previously obtained authorization from the FERC, which allows SCE to seek recovery of 100% of reasonable abandoned plant costs if the project is abandoned for reasons beyond SCE’s control.

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 48% on a 13-month weighted average basis. At June 30, 2015, SCE's 13-month weighted-average common equity component of total capitalization was 48.9% and the maximum additional dividend, taking into account declared but unpaid dividends, that SCE could pay to Edison International under this limitation was approximately $215 million, resulting in a restriction on net assets of approximately $13.5 billion.

SCE paid the $147 million dividend declared in February 2015 to Edison International during the second quarter of 2015. In June 2015, SCE declared another $147 million dividend to Edison International which will be paid in the third quarter of 2015. Future dividend amounts and timing of distributions are dependent on a number of factors including the level of capital expenditures, operating cash flows and earnings.

Margin and Collateral Deposits

Certain derivative instruments, power procurement contracts and other contractual arrangements contain collateral requirements. Future collateral requirements may differ from the requirements at June 30, 2015, due to the addition of incremental power and energy procurement contracts with collateral requirements, if any, and the impact of changes in wholesale power and natural gas prices on SCE's contractual obligations.

Some of the power procurement contracts contain provisions that require SCE to maintain an investment grade credit rating from the major credit rating agencies. If SCE's credit rating were to fall below investment grade, SCE may be required to pay the liability or post additional collateral.

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The table below provides the amount of collateral posted by SCE to its counterparties as well as the potential collateral that would have been required as of June 30, 2015.

(in millions)
Collateral posted as of June 30, 20151	$	181
Incremental collateral requirements for power procurement contracts resulting from a potential downgrade of SCE's credit rating to below investment grade	69
Posted and potential collateral requirements2	$	250

¹  Net collateral provided to counterparties and other brokers consisted of $29 million of cash which was offset against net derivative liabilities on the consolidated balance sheets, $34 million of cash reflected in "Other current assets" on the consolidated balance sheets and $118 million in letters of credit and surety bonds.

²  SCE's total posted and potential collateral requirements that could have increased by $48 million based on SCE's forward positions as of June 30, 2015 due to adverse market price movements over the remaining lives of the existing power procurement contracts using a 95% confidence level.

Edison International Parent and Other

Edison International Parent and Other's liquidity and its ability to pay operating expenses and dividends to common shareholders are dependent on dividends from SCE and access to bank and capital markets.

At June 30, 2015, Edison International Parent had $705 million available under its $1.25 billion multi-year revolving credit facility. For further details, see "Notes to Consolidated Financial Statements—Note 5. Debt and Credit Agreements."

Edison International may finance working capital requirements to support operations and capital expenditures with commercial paper or other borrowings, subject to availability in the capital markets.

The debt covenant in Edison International Parent's credit facility requires a consolidated debt to total capitalization ratio as defined in the credit agreement of less than or equal to 0.65 to 1. At June 30, 2015, Edison International Parent's consolidated debt to total capitalization ratio was 0.49 to 1.

In August 2014, Edison International entered into an amendment of the EME Settlement Agreement that finalized the remaining matters related to the EME Settlement. Edison International is obligated to make payments of $204 million on September 30, 2015 and $214 million on September 30, 2016. Edison International intends to make these payments from realization of tax benefits or issuance of commercial paper or other borrowings. Edison International has net operating loss and tax credit carryforwards retained by EME which are available to offset future consolidated taxable income or tax liabilities. As a result of the extension of 50% bonus depreciation for qualifying property under the Tax Increase Prevention Act of 2014, realization of these tax benefits has been deferred (currently forecasted through 2018). The timing of realization of these tax benefits may be further delayed in the event of future extensions of bonus depreciation and the value of the net operating loss carryforwards could be permanently reduced in the event that tax reform decreases the current corporate tax rate.

Historical Cash Flows

Southern California Edison Company

	Six months ended June 30,
(in millions)	2015			2014
Net cash provided by operating activities	$	1,689		$	1,083
Net cash provided by financing activities	539			864
Net cash used in investing activities	(2,213		)	(1,930		)
Net increase in cash and cash equivalents	$	15		$	17

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Net Cash Provided by Operating Activities

The following table summarizes major categories of net cash provided by operating activities as provided in more detail in SCE's consolidated statements of cash flows for the six months ended June 30, 2015 and 2014.

	Six months ended June 30,						Change in cash flows
(in millions)	2015			2014			2015/2014
Net income	$	745		$	626
Non cash items1	995			1,216
Subtotal	$	1,740		$	1,842		$	(102	)
Changes in cash flow resulting from working capital2	(311		)	(576		)	265
Derivative assets and liabilities, net	33			64			(31		)
Regulatory assets and liabilities, net	241			(317		)	558
Other noncurrent assets and liabilities, net3	(14		)	70			(84		)
Net cash provided by operating activities	$	1,689		$	1,083		$	606

¹  Non cash items include depreciation, decommissioning and amortization, allowance for equity during construction, impairment and other charges, deferred income taxes and investment tax credits and other.

²  Changes in working capital items include receivables, inventory, accounts payable, prepaid and accrued taxes, and other current assets and liabilities.

³ Includes the nuclear decommissioning trusts.

Net cash provided by operating activities were impacted by the following:

• Net cash used from working capital was $311 million and $576 million during the six months ended June 30, 2015 and 2014, respectively. The cash outflow for each period was primarily related to the timing of receipts from customers (increase in unbilled receivables due to seasonal usage) and timing of disbursements (annual compensation payments). In addition, SCE recorded in 2014 the amounts due from generator settlement refunds of approximately $179 million which decreased working capital.

• Net cash provided by (used in) regulatory assets and liabilities, including changes in over (under) collections of balancing accounts. SCE has a number of balancing accounts under CPUC decisions, which impact cash flows based on differences between timing of collection of amounts through rates and accrual expenditures. During the first six months of 2015 and 2014, cash flows were impacted by the two principal balancing accounts:

• ERRA undercollections for fuel and purchased power decreased $485 million during the first six months of 2015 primarily due to lower than forecasted power and gas prices experienced in 2015. ERRA undercollections for fuel and purchased power increased $612 million in the first six months of 2014 primarily due to higher purchased power than the forecast purchases included in customer rates in addition to higher gas price. In January 2015, SCE reclassified the regulatory liability for generator settlements to ERRA to refund customers.

• The base rate revenue balancing account ("BRRBA") tracks differences between amounts authorized by the CPUC in the GRC proceedings and amounts billed to customers. BRRBA undercollections increased $79 million in the first six months of 2015 primarily due to reduced customer sales from cooler weather during the first six months of 2015. BRRBA overcollections decreased $144 million in the first six months of 2014 primarily due to refunds to customers of approximately $150 million, related to the sale of Four Corners in December 2013.

• Cash flows (used in) provided by other noncurrent assets and liabilities were $(14) million and $70 million in the first six months of 2015 and 2014, respectively. During 2015, decommissioning costs of San Onofre were approximately $80 million (such costs were recorded as a reduction of SCE's asset retirement obligation). In addition, SCE received approximately $41 million and $83 million of earnings related to SCE's nuclear decommissioning trust during the first half of 2015 and 2014, respectively.

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Net Cash Provided by Financing Activities

The following table summarizes cash provided by financing activities for the six months ended June 30, 2015 and 2014. Issuances of debt are discussed in "Notes to Consolidated Financial Statements—Note 5. Debt and Credit Agreements—Long-Term Debt."

	Six months ended June 30,
(in millions)	2015			2014
Issuances of first and refunding mortgage bonds, net	$	1,287		$	398
Issuances of pollution control bonds, net	128			—
Long-term debt matured or repurchased	(721		)	(3		)
Issuances of preference stock, net	—			269
Short-term debt financing, net	184			410
Payments of common stock dividends to Edison International	(294		)	(126		)
Payments of preferred and preference stock dividends	(56		)	(54		)
Other	11			(30		)
Net cash provided by financing activities	$	539		$	864

Net Cash Used in Investing Activities

Cash flows used in investing activities are primarily due to capital expenditures and funding of nuclear decommissioning trusts. Capital expenditures were $2.2 billion and $1.9 billion for the six months ended June 30, 2015 and 2014, respectively, primarily related to transmission, distribution and generation investments. Net purchases of nuclear decommissioning trust investments were $48 million and $88 million for the six months ended June 30, 2015 and 2014, respectively.

Nuclear Decommissioning Trusts

SCE's statement of cash flows includes activities of the Nuclear Decommissioning Trusts which are reflected in the following line items:

	Six months ended June 30,
(in millions)	2015			2014
Net cash provided by operating activities:    Nuclear decommissioning trusts	$	41		$	83
Net cash flow from investing activities:    Proceeds from sale of investments	7,253			3,750
Purchases of investments	(7,301		)	(3,838		)
Net cash impact	$	(7	)	$	(5	)

Net cash provided by operating activities of the nuclear decommissioning trusts relate to interest and dividends less administrative expenses, taxes and decommissioning costs. Such activities represent the source (use) of the funds for investing activities. The net cash impact represents the contributions made by SCE to the nuclear decommissioning trusts. During the six months ended June 30, 2015, SCE made a contribution of $7 million to the non-qualified decommissioning trust pursuant to a CPUC decision related to decommissioning costs for San Onofre Unit 1. In future periods, SCE expects decommissioning costs of San Onofre to increase significantly. Such amounts will be reflected as a decrease in SCE net cash provided by operating activities and will be funded from sales of investments of the nuclear decommissioning trusts once approved by the CPUC. Decommissioning costs incurred prior to CPUC approval will be funded by SCE and are reflected as cash flow used by operating activities. See "Notes to Consolidated Financial Statements—Note 9. Investments" for further information.

15

Edison International Parent and Other

The table below sets forth condensed historical cash flow from operations for Edison International Parent and Other.

	Six months ended June 30,
(in millions)	2015			2014
Net cash provided by (used in) operating activities	$	79		$	(475	)
Net cash (used in) provided by financing activities	(66		)	504
Net cash used in investing activities	(21		)	(2		)
Net (decrease) increase in cash and cash equivalents	$	(8	)	$	27

Net Cash Provided by (Used in) Operating Activities

Net cash provided by operating activities increased $554 million for the first six months of 2015 compared to 2014 due to:

• $225 million initial cash payment to the Reorganization Trust in April 2014 related to the EME Settlement Agreement, see "Notes to Consolidated Financial Statements—Note 14. Discontinued Operations—EME Chapter 11 Bankruptcy" for further information.

• $189 million deposit made with the IRS in 2014 related to open tax years 2003 through 2006 and a $122 million receipt of intercompany tax-allocation payments in 2015.

• approximately $43 million cash outflow from operating activities in 2015 compared to $61 million cash outflow in 2014 due to the timing of payments and receipts relating to interest and operating costs.

Net Cash (Used in) Provided by Financing Activities

Net cash (used in) provided by financing activities were as follows:

	Six months ended June 30,
(in millions)	2015			2014
Dividends paid to Edison International common shareholders	$	(272	)	$	(231	)
Dividends received from SCE	294			126
Payment for stock-based compensation	(108		)	(67		)
Receipt from stock option exercises	63			41
Debt financing, net1	(60		)	632
Other	17			3
Net cash (used in) provided by financing activities	$	(66	)	$	504

¹   Includes $13 million debt financing for Edison Energy Group, see "Notes to Consolidated Financial Statements—Note 5. Debt and Credit Agreements—Project Financing."

Contingencies

SCE has contingencies related to San Onofre Related Matters, Nuclear Insurance, Wildfire Insurance and Spent Nuclear Fuel which are discussed in "Notes to Consolidated Financial Statements—Note 11. Commitments and Contingencies."

Environmental Remediation

As of June 30, 2015, SCE had identified 19 material sites for remediation and recorded an estimated minimum liability of $115 million. SCE expects to recover 90% of its remediation costs at certain sites. See "Notes to Consolidated Financial Statements—Note 11. Commitments and Contingencies" for further discussion.

16

MARKET RISK EXPOSURES

Edison International's and SCE's primary market risks include fluctuations in interest rates, commodity prices and volumes, and counterparty credit. Fluctuations in interest rates can affect earnings and cash flows. Fluctuations in commodity prices and volumes and counterparty credit losses may temporarily affect cash flows, but are not expected to affect earnings due to expected recovery through regulatory mechanisms. Derivative instruments are used, as appropriate, to manage market risks including market risks of SCE's customers. For a further discussion of market risk exposures, including commodity price risk, credit risk and interest rate risk, see "Notes to Consolidated Financial Statements—Note 6. Derivative Instruments" and "—Note 4. Fair Value Measurements."

Commodity Price Risk

The fair value of outstanding derivative instruments used to mitigate exposure to commodity price risk was a net liability of $1.04 billion and $927 million at June 30, 2015 and December 31, 2014 respectively. For further discussion of fair value measurements and the fair value hierarchy, see "Notes to Consolidated Financial Statements—Note 4. Fair Value Measurements."

Credit Risk

Credit risk exposure from counterparties for power and gas trading activities is measured as the sum of net accounts receivable (accounts receivable less accounts payable) and the current fair value of net derivative assets (derivative assets less derivative liabilities) reflected on the consolidated balance sheets. SCE enters into master agreements which typically provide for a right of setoff. Accordingly, SCE's credit risk exposure from counterparties is based on a net exposure under these arrangements. SCE manages the credit risk on the portfolio for both rated and non-rated counterparties based on credit ratings using published ratings of counterparties and other publicly disclosed information, such as financial statements, regulatory filings, and press releases, to guide it in the process of setting credit levels, risk limits and contractual arrangements, including master netting agreements.

As of June 30, 2015, the amount of balance sheet exposure as described above broken down by the credit ratings of SCE's counterparties, was as follows:

	June 30, 2015
(in millions)	Exposure2		Collateral		Net Exposure
S&P Credit Rating1
A or higher	$	262	$	—	$	262
BBB	3		—		3
Not rated3	7		5		2
Total	$	272	$	5	$	267

¹  SCE assigns a credit rating based on the lower of a counterparty's S&P or Moody's rating. For ease of reference, the above table uses the S&P classifications to summarize risk, but reflects the lower of the two credit ratings.

²  Exposure excludes amounts related to contracts classified as normal purchases and sales and non-derivative contractual commitments that are not recorded on the consolidated balance sheets, except for any related net accounts receivable.

³  The exposure in this category relates to long-term power purchase agreements. SCE's exposure is mitigated by regulatory treatment.

CRITICAL ACCOUNTING ESTIMATES AND POLICIES

For a complete discussion on Edison International's and SCE's critical accounting policies, see "Critical Accounting Estimates and Policies" in the year-ended 2014 MD&A.

NEW ACCOUNTING GUIDANCE

New accounting guidance is discussed in "Notes to Consolidated Financial Statements—Note 1. Summary of Significant Accounting Policies—New Accounting Guidance."

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Information responding to this section is included in the MD&A under the heading "Market Risk Exposures" and is incorporated herein by reference.

17

FINANCIAL STATEMENTS

Consolidated Statements of Income	Edison International
	Three months ended June 30,						Six months ended June 30,
(in millions, except per-share amounts, unaudited)	2015			2014			2015			2014
Total operating revenue	$	2,908		$	3,016		$	5,420		$	5,943
Purchased power and fuel	1,078			1,239			1,864			2,382
Operation and maintenance	743			715			1,380			1,442
Depreciation, decommissioning and amortization	481			414			945			824
Property and other taxes	82			73			171			158
Impairment and other charges	—			—			—			231
Total operating expenses	2,384			2,441			4,360			5,037
Operating income	524			575			1,060			906
Interest and other income	43			46			82			69
Interest expense	(138		)	(139		)	(281		)	(281		)
Other expenses	(17		)	(16		)	(24		)	(23		)
Income from continuing operations before income taxes	412			466			837			671
Income tax expense	6			84			113			65
Income from continuing operations	406			382			724			606
Gain from discontinued operations, net of tax	—			184			—			162
Net income	406			566			724			768
Preferred and preference stock dividend requirements of utility	28			30			56			56
Other noncontrolling interests	(1		)	—			(10		)	—
Net income attributable to Edison International common shareholders	$	379		$	536		$	678		$	712
Amounts attributable to Edison International common shareholders:
Income from continuing operations, net of tax	$	379		$	352		$	678		$	550
Gain from discontinued operations, net of tax	—			184			—			162
Net income attributable to Edison International common shareholders	$	379		$	536		$	678		$	712
Basic earnings per common share attributable to Edison International common shareholders:
Weighted-average shares of common stock outstanding	326			326			326			326
Continuing operations	$	1.16		$	1.08		$	2.08		$	1.69
Discontinued operations	—			0.56			—			0.49
Total	$	1.16		$	1.64		$	2.08		$	2.18
Diluted earnings per common share attributable to Edison International common shareholders:
Weighted-average shares of common stock outstanding, including effect of dilutive securities	328			329			329			329
Continuing operations	$	1.15		$	1.07		$	2.06		$	1.68
Discontinued operations	—			0.56			—			0.49
Total	$	1.15		$	1.63		$	2.06		$	2.17
Dividends declared per common share	$	0.4175		$	0.3550		$	0.8350		$	0.7100

The accompanying notes are an integral part of these consolidated financial statements.

18

Consolidated Statements of Comprehensive Income						Edison International
	Three months ended June 30,					Six months ended June 30,
(in millions, unaudited)	2015		2014			2015		2014
Net income	$	406	$	566		$	724	$	768
Other comprehensive income (loss), net of tax:
Pension and postretirement benefits other than pensions:
Net loss arising during the period plus amortization included in net income	3		(4		)	2		(2		)
Other	—		2			—		2
Other comprehensive income (loss), net of tax	3		(2		)	2		—
Comprehensive income	409		564			726		768
Less: Comprehensive income attributable to noncontrolling interests	27		30			46		56
Comprehensive income attributable to Edison International	$	382	$	534		$	680	$	712

The accompanying notes are an integral part of these consolidated financial statements.

19

Consolidated Balance Sheets	Edison International
(in millions, unaudited)	June 30, 2015		December 31, 2014
ASSETS
Cash and cash equivalents	$	139	$	132
Receivables, less allowances of $68 for uncollectible accounts at both dates	768		790
Accrued unbilled revenue	853		632
Inventory	276		281
Derivative assets	79		102
Regulatory assets	1,066		1,254
Deferred income taxes	288		452
Other current assets	437		376
Total current assets	3,906		4,019
Nuclear decommissioning trusts	4,836		4,799
Other investments	210		207
Total investments	5,046		5,006
Utility property, plant and equipment, less accumulated depreciation and amortization of $8,141 and $8,132 at respective dates	33,594		32,859
Nonutility property, plant and equipment, less accumulated depreciation of $79 and $76 at respective dates	132		122
Total property, plant and equipment	33,726		32,981
Derivative assets	194		219
Regulatory assets	8,009		7,612
Other long-term assets	358		349
Total long-term assets	8,561		8,180
Total assets	$	51,239	$	50,186

The accompanying notes are an integral part of these consolidated financial statements.

20

Consolidated Balance Sheets	Edison International
(in millions, except share amounts, unaudited)	June 30, 2015			December 31, 2014
LIABILITIES AND EQUITY
Short-term debt	$	1,415		$	1,291
Current portion of long-term debt	204			504
Accounts payable	1,294			1,580
Accrued taxes	36			81
Customer deposits	234			221
Derivative liabilities	162			196
Regulatory liabilities	454			401
Other current liabilities	1,037			1,205
Total current liabilities	4,836			5,479
Long-term debt	11,265			10,234
Deferred income taxes and credits	7,599			7,313
Derivative liabilities	1,155			1,052
Pensions and benefits	2,176			2,155
Asset retirement obligations	2,825			2,821
Regulatory liabilities	5,813			5,889
Other deferred credits and other long-term liabilities	2,220			2,255
Total deferred credits and other liabilities	21,788			21,485
Total liabilities	37,889			37,198
Commitments and contingencies (Note 11)
Redeemable noncontrolling interest	3			6
Common stock, no par value (800,000,000 shares authorized; 325,811,206 shares issued and outstanding at respective dates)	2,472			2,445
Accumulated other comprehensive loss	(56		)	(58		)
Retained earnings	8,909			8,573
Total Edison International's common shareholders' equity	11,325			10,960
Noncontrolling interests – preferred and preference stock of utility	2,022			2,022
Total equity	13,347			12,982
Total liabilities and equity	$	51,239		$	50,186

The accompanying notes are an integral part of these consolidated financial statements.

21

Consolidated Statements of Cash Flows	Edison International
	Six months ended June 30,
(in millions, unaudited)	2015			2014
Cash flows from operating activities:
Net income	$	724		$	768
Less: Income from discontinued operations	—			162
Income from continuing operations	724			606
Adjustments to reconcile to net cash provided by operating activities:
Depreciation, decommissioning and amortization	987			864
Allowance for equity during construction	(42		)	(28		)
Impairment and other charges	—			231
Deferred income taxes and investment tax credits	101			110
Other	11			11
EME settlement payments	—			(225		)
Changes in operating assets and liabilities:
Receivables	32			(185		)
Inventory	5			(21		)
Accounts payable	130			116
Prepaid and accrued taxes	(50		)	79
Other current assets and liabilities	(411		)	(471		)
Derivative assets and liabilities, net	33			64
Regulatory assets and liabilities, net	241			(317		)
Nuclear decommissioning trusts	41			83
Other noncurrent assets and liabilities	(34		)	(309		)
Net cash provided by operating activities	1,768			608
Cash flows from financing activities:
Long-term debt issued or remarketed, net of discount and issuance costs of $16 and $4 at respective periods	1,415			396
Long-term debt matured or repurchased	(721		)	(4		)
Preference stock issued, net	—			269
Short-term debt financing, net	125			1,043
Cash contribution from redeemable noncontrolling interest	7			—
Dividends to noncontrolling interests	(56		)	(54		)
Dividends paid	(272		)	(231		)
Other	(25		)	(51		)
Net cash provided by financing activities	473			1,368
Cash flows from investing activities:
Capital expenditures	(2,197		)	(1,856		)
Proceeds from sale of nuclear decommissioning trust investments	7,253			3,750
Purchases of nuclear decommissioning trust investments	(7,301		)	(3,838		)
Other	11			12
Net cash used in investing activities	(2,234		)	(1,932		)
Net increase in cash and cash equivalents	7			44
Cash and cash equivalents at beginning of period	132			146
Cash and cash equivalents at end of period	$	139		$	190

The accompanying notes are an integral part of these consolidated financial statements.

22

Consolidated Statements of Income	Southern California Edison Company
	Three months ended June 30,						Six months ended June 30,
(in millions, unaudited)	2015			2014			2015			2014
Operating revenue	$	2,901		$	3,014		$	5,409		$	5,938
Purchased power and fuel	1,078			1,239			1,864			2,382
Operation and maintenance	724			697			1,346			1,410
Depreciation, decommissioning and amortization	481			414			943			824
Property and other taxes	82			71			170			156
Impairment and other charges	—			—			—			231
Total operating expenses	2,365			2,421			4,323			5,003
Operating income	536			593			1,086			935
Interest and other income	31			46			64			69
Interest expense	(131		)	(134		)	(266		)	(269		)
Other expenses	(17		)	(15		)	(24		)	(23		)
Income before income taxes	419			490			860			712
Income tax expense	7			98			115			86
Net income	412			392			745			626
Less: Preferred and preference stock dividend requirements	28			30			56			56
Net income available for common stock	$	384		$	362		$	689		$	570

Consolidated Statements of Comprehensive Income
	Three months ended June 30,				Six months ended June 30,
(in millions, unaudited)	2015		2014		2015		2014
Net income	$	412	$	392	$	745	$	626
Other comprehensive income, net of tax:
Pension and postretirement benefits other than pensions:
Net loss arising during the period plus amortization included in net income	1		—		2		1
Other	—		2		—		2
Other comprehensive income, net of tax	1		2		2		3
Comprehensive income	$	413	$	394	$	747	$	629

The accompanying notes are an integral part of these consolidated financial statements.

23

Consolidated Balance Sheets Southern California Edison Company

(in millions, unaudited)	June 30, 2015		December 31, 2014
ASSETS
Cash and cash equivalents	$	53	$	38
Receivables, less allowances of $68 for uncollectible accounts at both dates	745		749
Accrued unbilled revenue	853		632
Inventory	261		275
Derivative assets	79		102
Regulatory assets	1,066		1,254
Other current assets	457		390
Total current assets	3,514		3,440
Nuclear decommissioning trusts	4,836		4,799
Other investments	167		158
Total investments	5,003		4,957
Utility property, plant and equipment, less accumulated depreciation and amortization of $8,141 and $8,132 at respective dates	33,594		32,859
Nonutility property, plant and equipment, less accumulated depreciation of $76 and $75 at respective dates	70		69
Total property, plant and equipment	33,664		32,928
Derivative assets	194		219
Regulatory assets	8,009		7,612
Other long-term assets	309		300
Total long-term assets	8,512		8,131
Total assets	$	50,693	$	49,456

The accompanying notes are an integral part of these consolidated financial statements.

24

Consolidated Balance Sheets Southern California Edison Company

(in millions, except share amounts, unaudited)	June 30, 2015			December 31, 2014
LIABILITIES AND EQUITY
Short-term debt	$	851		$	667
Current portion of long-term debt	—			300
Accounts payable	1,286			1,556
Accrued taxes	25			87
Customer deposits	234			221
Derivative liabilities	162			196
Regulatory liabilities	454			401
Deferred income taxes	253			209
Other current liabilities	1,031			1,183
Total current liabilities	4,296			4,820
Long-term debt	10,654			9,624
Deferred income taxes and credits	8,673			8,288
Derivative liabilities	1,155			1,052
Pensions and benefits	1,677			1,672
Asset retirement obligations	2,824			2,819
Regulatory liabilities	5,813			5,889
Other deferred credits and other long-term liabilities	1,933			2,010
Total deferred credits and other liabilities	22,075			21,730
Total liabilities	37,025			36,174
Commitments and contingencies (Note 11)
Common stock, no par value (560,000,000 shares authorized; 434,888,104 shares issued and outstanding at each date)	2,168			2,168
Additional paid-in capital	630			618
Accumulated other comprehensive loss	(26		)	(28		)
Retained earnings	8,826			8,454
Total common shareholder's equity	11,598			11,212
Preferred and preference stock	2,070			2,070
Total equity	13,668			13,282
Total liabilities and equity	$	50,693		$	49,456

The accompanying notes are an integral part of these consolidated financial statements.

25

Consolidated Statements of Cash Flows Southern California Edison Company

	Six months ended June 30,
(in millions, unaudited)	2015			2014
Cash flows from operating activities:
Net income	$	745		$	626
Adjustments to reconcile to net cash provided by operating activities:
Depreciation, decommissioning and amortization	982			864
Allowance for equity during construction	(42		)	(28		)
Impairment and other charges	—			231
Deferred income taxes and investment tax credits	48			144
Other	7			5
Changes in operating assets and liabilities:
Receivables	4			(191		)
Inventory	14			(3		)
Accounts payable	146			128
Prepaid and accrued taxes	(87		)	(48		)
Other current assets and liabilities	(388		)	(462		)
Derivative assets and liabilities, net	33			64
Regulatory assets and liabilities, net	241			(317		)
Nuclear decommissioning trusts	41			83
Other noncurrent assets and liabilities	(55		)	(13		)
Net cash provided by operating activities	1,689			1,083
Cash flows from financing activities:
Long-term debt issued or remarketed, net of discount and issuance costs of $16 and $2 at respective periods	1,415			398
Long-term debt matured or repurchased	(721		)	(3		)
Preference stock issued, net	—			269
Short-term debt financing, net	184			410
Dividends paid	(350		)	(180		)
Other	11			(30		)
Net cash provided by financing activities	539			864
Cash flows from investing activities:
Capital expenditures	(2,187		)	(1,853		)
Proceeds from sale of nuclear decommissioning trust investments	7,253			3,750
Purchases of nuclear decommissioning trust investments	(7,301		)	(3,838		)
Other	22			11
Net cash used in investing activities	(2,213		)	(1,930		)
Net increase in cash and cash equivalents	15			17
Cash and cash equivalents, beginning of period	38			54
Cash and cash equivalents, end of period	$	53		$	71

The accompanying notes are an integral part of these consolidated financial statements.

26

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

Note 1.    Summary of Significant Accounting Policies

Organization and Basis of Presentation

Edison International is the parent holding company of Southern California Edison Company ("SCE"). SCE is an investor-owned public utility primarily engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. Edison International is also the parent company of Edison Energy Group, a company that holds interests in subsidiaries that are engaged in competitive businesses related to the generation, delivery, or use of electricity. Such competitive business activities are currently not material to report as a separate business segment. These combined notes to the consolidated financial statements apply to both Edison International and SCE unless otherwise described. Edison International's consolidated financial statements include the accounts of Edison International, SCE and other wholly owned and controlled subsidiaries. References to Edison International refer to the consolidated group of Edison International and its subsidiaries. References to Edison International Parent and Other refer to Edison International Parent and its nonutility subsidiaries. SCE's consolidated financial statements include the accounts of SCE and its wholly owned and controlled subsidiaries. All intercompany transactions have been eliminated from the consolidated financial statements.

Edison International's and SCE's significant accounting policies were described in Note 1 of "Notes to Consolidated Financial Statements" included in the 2014 Form 10-K. This quarterly report should be read in conjunction with the financial statements and notes included in the 2014 Form 10-K.

In the opinion of management, all adjustments, consisting of recurring accruals, have been made that are necessary to fairly state the consolidated financial position, results of operations and cash flows in accordance with accounting principles generally accepted in the United States of America for the periods covered by this quarterly report on Form 10-Q. The results of operations for the three- and six-month periods ended June 30, 2015 are not necessarily indicative of the operating results for the full year.

The December 31, 2014 condensed consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America.

Cash Equivalents

Cash equivalents included investments in money market funds. Generally, the carrying value of cash equivalents equals the fair value, as these investments have original maturities of three months or less. The cash equivalents were as follows:

	Edison International				SCE
(in millions)	June 30, 2015		December 31, 2014		June 30, 2015		December 31, 2014
Money market funds	$	56	$	35	$	26	$	5

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 as follows:

	Edison International				SCE
(in millions)	June 30, 2015		December 31, 2014		June 30, 2015		December 31, 2014
Book balances reclassified to accounts payable	$	123	$	180	$	123	$	177

Inventory

Inventory is primarily composed of materials, supplies and spare parts, and stated at the lower of cost or market, cost being determined by the average cost method.

27

San Onofre Impairment and Other Charges

As discussed in Note 1 of "Notes to Consolidated Financial Statements" included in the 2014 Form 10-K, in March 2014, SCE entered into a settlement agreement with The Utility Reform Network ("TURN"), the CPUC's Office of Ratepayer Advocates ("ORA"), SDG&E, the Coalition of California Utility Employees, and Friends of the Earth (together, the "Settling Parties") related to the regulatory proceedings for San Onofre. SCE recorded a pre-tax charge of approximately $231 million (approximately $96 million after-tax) in the first quarter of 2014.

In September 2014, SCE and the Settling Parties entered into an Amended and Restated Settlement Agreement (the "San Onofre OII Settlement Agreement") which was approved by the CPUC on November 20, 2014. As a result of these developments, SCE revised the pre-tax charge to $163 million (approximately $72 million after-tax) in the fourth quarter of 2014. Including amounts previously recorded in 2013, the total impact of the San Onofre OII Settlement Agreement was a pre-tax charge of $738 million (approximately $437 million after-tax).

Earnings Per Share

Edison International computes earnings per common share ("EPS") using the two-class method, which is an earnings allocation formula that determines EPS for each class of common stock and participating security. Edison International's participating securities are stock-based compensation awards payable in common shares, including performance shares and restricted stock units, which earn dividend equivalents on an equal basis with common shares once the awards are vested. EPS attributable to Edison International common shareholders was computed as follows:

	Three months ended June 30,				Six months ended June 30,
(in millions, except per-share amounts)	2015		2014		2015		2014
Basic earnings per share – continuing operations:
Income from continuing operations attributable to common shareholders	$	379	$	352	$	678	$	550
Participating securities dividends	—		—		—		—
Income from continuing operations available to common shareholders	$	379	$	352	$	678	$	550
Weighted average common shares outstanding	326		326		326		326
Basic earnings per share – continuing operations	$	1.16	$	1.08	$	2.08	$	1.69
Diluted earnings per share – continuing operations:
Income from continuing operations available to common shareholders	$	379	$	352	$	678	$	550
Income impact of assumed conversions	—		1		—		1
Income from continuing operations available to common shareholders and assumed conversions	$	379	$	353	$	678	$	551
Weighted average common shares outstanding	326		326		326		326
Incremental shares from assumed conversions	2		3		3		3
Adjusted weighted average shares – diluted	328		329		329		329
Diluted earnings per share – continuing operations	$	1.15	$	1.07	$	2.06	$	1.68

In addition to the participating securities discussed above, Edison International also may award stock options which are payable in common shares and are included in the diluted earnings per share calculation. Stock option awards to purchase 1,981,596 and 45,951 shares of common stock for the three months ended June 30, 2015 and 2014, respectively, and 1,981,596 and 96,341 shares for the six months ended June 30, 2015 and 2014, respectively, were outstanding, but were not included in the computation of diluted earnings per share because the exercise price of the awards was greater than the average market price of the common shares during the respective periods and, therefore, the effect would have been antidilutive.

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New Accounting Guidance

Accounting Guidance Not Yet Adopted

On May 28, 2014, the FASB issued an accounting standards update on revenue recognition including enhanced disclosures. Under the new standard, revenue is recognized when (or as) a good or service is transferred to the customer and the customer obtains control of the good or service. On July 9, 2015, the FASB approved a one-year deferral, updating the effective date to January 1, 2018.Edison International and SCE are currently evaluating this new guidance and cannot determine the impact of this standard at this time.

On April 7, 2015, the FASB issued an accounting standards update that will require debt issuance costs to be presented in the balance sheet as a direct deduction from the carrying amount of the related debt liability, consistent with debt discounts. Currently, these costs are presented as a deferred charge asset. Edison International and SCE will adopt this guidance in the first quarter of 2016. The adoption of this accounting standards update is not expected to have a material impact on Edison International's and SCE's consolidated financial statements.

On April 15, 2015, the FASB issued an accounting standard update on fees paid by a customer for software licenses. This new standard provides guidance about whether a cloud computing arrangement includes a software license which may be capitalized in certain circumstances. If a cloud computing arrangement does not include a software license, then the arrangement should be accounted for as a service contract. Edison International and SCE are currently evaluating this guidance, which is effective January 1, 2016, and expects this new standard will not have a material impact on the consolidated financial statements.

Note 2.    Consolidated Statements of Changes in Equity

The following table provides Edison International's changes in equity for the six months ended June 30, 2015:

	Equity Attributable to Common Shareholders											Noncontrolling Interests
(in millions, except per-share amounts)	Common Stock		Accumulated Other Comprehensive Loss			Retained Earnings			Subtotal			Preferred and Preference Stock			Total Equity
Balance at December 31, 2014	$	2,445	$	(58	)	$	8,573		$	10,960		$	2,022		$	12,982
Net income	—		—			678			678			56			734
Other comprehensive income	—		2			—			2			—			2
Common stock dividends declared ($0.835 per share)	—		—			(272		)	(272		)	—			(272		)
Dividends to noncontrolling interests	—		—			—			—			(56		)	(56		)
Stock-based compensation	15		—			(70		)	(55		)	—			(55		)
Non-cash stock-based compensation	12		—			—			12			—			12
Balance at June 30, 2015	$	2,472	$	(56	)	$	8,909		$	11,325		$	2,022		$	13,347

The following table provides Edison International's changes in equity for the six months ended June 30, 2014:

	Equity Attributable to Common Shareholders											Noncontrolling Interests
(in millions, except per-share amounts)	Common Stock		Accumulated Other Comprehensive Loss			Retained Earnings			Subtotal			Preferred and Preference Stock			Total Equity
Balance at December 31, 2013	$	2,403	$	(13	)	$	7,548		$	9,938		$	1,753		$	11,691
Net income	—		—			712			712			56			768
Common stock dividends declared ($0.71 per share)	—		—			(231		)	(231		)	—			(231		)
Dividends to noncontrolling interests	—		—			—			—			(57		)	(57		)
Stock-based compensation	17		—			(68		)	(51		)	—			(51		)
Non-cash stock-based compensation	14		—			(1		)	13			1			14
Issuance of preference stock	—		—			—			—			269			269
Balance at June 30, 2014	$	2,434	$	(13	)	$	7,960		$	10,381		$	2,022		$	12,403

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The following table provides SCE's changes in equity for the six months ended June 30, 2015:

	Equity Attributable to Edison International
(in millions)	Common Stock		Additional Paid-in Capital		Accumulated Other Comprehensive Loss			Retained Earnings			Preferred and Preference Stock		Total Equity
Balance at December 31, 2014	$	2,168	$	618	$	(28	)	$	8,454		$	2,070	$	13,282
Net income	—		—		—			745			—		745
Other comprehensive income	—		—		2			—			—		2
Dividends declared on common stock	—		—		—			(294		)	—		(294		)
Dividends declared on preferred and preference stock	—		—		—			(56		)	—		(56		)
Stock-based compensation	—		6		—			(23		)	—		(17		)
Non-cash stock-based compensation	—		6		—			—			—		6
Balance at June 30, 2015	$	2,168	$	630	$	(26	)	$	8,826		$	2,070	$	13,668

The following table provides SCE's changes in equity for the six months ended June 30, 2014:

	Equity Attributable to Edison International
(in millions)	Common Stock		Additional Paid-in Capital			Accumulated Other Comprehensive Loss			Retained Earnings			Preferred and Preference Stock		Total Equity
Balance at December 31, 2013	$	2,168	$	592		$	(11	)	$	7,594		$	1,795	$	12,138
Net income	—		—			—			626			—		626
Other comprehensive income	—		—			3			—			—		3
Dividends declared on common stock	—		—			—			(252		)	—		(252		)
Dividends declared on preferred and preference stock	—		—			—			(57		)	—		(57		)
Stock-based compensation	—		12			—			(42		)	—		(30		)
Non-cash stock-based compensation	—		5			—			(2		)	—		3
Issuance of preference stock	—		(6		)	—			—			275		269
Balance at June 30, 2014	$	2,168	$	603		$	(8	)	$	7,867		$	2,070	$	12,700

Note 3.    Variable Interest Entities

A VIE is defined as a legal entity that meets one of two conditions: (1) the equity owners do not have sufficient equity at risk, or (2) the holders of the equity investment at risk, as a group, lack any of the following three characteristics: decision-making rights, the obligation to absorb losses, or the right to receive the expected residual returns of the entity. The primary beneficiary is identified as the variable interest holder that has both the power to direct the activities of the VIE that most significantly impact the entity's economic performance and the obligation to absorb losses or the right to receive benefits from the entity that could potentially be significant to the VIE. The primary beneficiary is required to consolidate the VIE. A subsidiary of Edison International is the primary beneficiary of an entity that owns rooftop solar projects. Commercial and operating activities are generally the factors that most significantly impact the economic performance of such VIEs. Commercial and operating activities include construction, operation and maintenance, fuel procurement, dispatch and compliance with regulatory and contractual requirements.

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Variable Interest in VIEs that are not Consolidated

Power Purchase Contracts

SCE has power purchase agreements ("PPAs") that are classified as variable interests in VIEs, including tolling agreements through which SCE provides the natural gas to fuel the plants and contracts with qualifying facilities ("QFs") that contain variable pricing provisions based on the price of natural gas. SCE has concluded that it is not the primary beneficiary of these VIEs since it does not control the commercial and operating activities of these entities. Since payments for capacity are the primary source of income, the most significant economic activity for these VIEs is the operation and maintenance of the power plants.

As of the balance sheet date, the carrying amount of assets and liabilities in SCE's consolidated balance sheet that relate to its involvement with VIEs result from amounts due under the PPAs or the fair value of those derivative contracts. Under these contracts, SCE recovers the costs incurred through demonstration of compliance with its CPUC-approved long-term power procurement plans. SCE has no residual interest in the entities and has not provided or guaranteed any debt or equity support, liquidity arrangements, performance guarantees or other commitments associated with these contracts other than the purchase commitments described in Note 11 of the 2014 Form 10-K. As a result, there is no significant potential exposure to loss to SCE from its variable interest in these VIEs. The aggregate contracted capacity dedicated to SCE from these VIE projects was 4,125 MW and 5,341 MW at June 30, 2015 and 2014, respectively, and the amounts that SCE paid to these projects were $78 million and $93 million for the three months ended June 30, 2015 and 2014, respectively, and $181 million and $207 million for the six months ended June 30, 2015 and 2014, respectively. These amounts are recoverable in customer rates, subject to reasonableness review.

Unconsolidated Trusts of SCE

SCE Trust I, Trust II and Trust III were formed in 2012, 2013 and 2014, respectively, for the exclusive purpose of issuing the 5.625%, 5.10% and 5.75% trust preference securities, respectively ("trust securities"). The trusts are VIEs. SCE has concluded that it is not the primary beneficiary of these VIEs as it does not have the obligation to absorb the expected losses or the right to receive the expected residual returns of the trusts. SCE Trust I, Trust II and Trust III issued trust securities in the face amounts of $475 million, $400 million and $275 million, respectively, (cumulative, liquidation amounts of $25 per share) to the public and $10,000 of common stock each to SCE. The trusts invested the proceeds of these trust securities in Series F, Series G and Series H Preference Stock issued by SCE in the principal amounts of $475 million, $400 million and $275 million (cumulative, $2,500 per share liquidation values), respectively, which have substantially the same payment terms as the respective trust securities.

The Series F, Series G and Series H Preference Stock and the corresponding trust securities do not have a maturity date. Upon any redemption of any shares of the Series F, Series G or Series H Preference Stock, a corresponding dollar amount of trust securities will be redeemed by the applicable trust. The applicable trust will make distributions at the same rate and on the same dates on the applicable series of trust securities when and if the SCE board of directors declares and makes dividend payments on the Series F, Series G or Series H Preference Stock. The applicable trust will use any dividends it receives on the Series F, Series G or Series H Preference Stock to make its corresponding distributions on the applicable series of trust securities. If SCE does not make a dividend payment to any of these trusts, SCE would be prohibited from paying dividends on its common stock. SCE has fully and unconditionally guaranteed the payment of the trust securities and trust distributions, if and when SCE pays dividends on the Series F, Series G and Series H Preference Stock.

The Trust I, Trust II and Trust III balance sheets as of June 30, 2015 and December 31, 2014, consisted of investments of $475 million, $400 million and $275 million in the Series F, Series G and Series H Preference Stock, respectively, $475 million, $400 million and $275 million of trust securities, respectively, and $10,000 each of common stock.

The following table provides a summary of the trusts' income statements:

	Three months ended June 30,						Six months ended June 30,
(in millions)	Trust I		Trust II		Trust III		Trust I		Trust II		Trust III
2015
Dividend income	$	6	$	5	$	4	$	13	$	10	$	8
Dividend distributions	6		5		4		13		10		8
2014
Dividend income	$	6	$	5	$	4	$	13	$	10	$	5
Dividend distributions	6		5		4		13		10		5

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Note 4.    Fair Value Measurements

Recurring Fair Value Measurements

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (referred to as an "exit price"). Fair value of an asset or liability considers assumptions that market participants would use in pricing the asset or liability, including assumptions about nonperformance risk. As of June 30, 2015 and December 31, 2014, nonperformance risk was not material for Edison International and SCE.

Assets and liabilities are categorized into a three-level fair value hierarchy based on valuation inputs used to determine fair value.

Level 1 – The fair value of Edison International's and SCE's Level 1 assets and liabilities is determined using unadjusted quoted prices in active markets that are available at the measurement date for identical assets and liabilities. This level includes exchange-traded equity securities, U.S. treasury securities, mutual funds and money market funds.

Level 2 – Edison International and SCE's Level 2 assets and liabilities include fixed income securities primarily consisting of U.S. government and agency bonds, municipal bonds and corporate bonds, and over-the-counter derivatives. The fair value of fixed income securities is determined using a market approach by obtaining quoted prices for similar assets and liabilities in active markets and inputs that are observable, either directly or indirectly, for substantially the full term of the instrument.

The fair value of SCE's over-the-counter derivative contracts is determined using an income approach. SCE uses standard pricing models to determine the net present value of estimated future cash flows. Inputs to the pricing models include forward published or posted clearing prices from exchanges (New York Mercantile Exchange and Intercontinental Exchange) for similar instruments and discount rates. A primary price source that best represents trade activity for each market is used to develop observable forward market prices in determining the fair value of these positions. Broker quotes, prices from exchanges or comparison to executed trades are used to validate and corroborate the primary price source. These price quotations reflect mid-market prices (average of bid and ask) and are obtained from sources believed to provide the most liquid market for the commodity.

Level 3 – The fair value of SCE's Level 3 assets and liabilities is determined using the income approach through various models and techniques that require significant unobservable inputs. This level includes over-the-counter options, tolling arrangements and derivative contracts that trade infrequently such as congestion revenue rights ("CRRs") and long-term power agreements. Edison International Parent and Other does not have any Level 3 assets and liabilities.

Assumptions are made in order to value derivative contracts in which observable inputs are not available. Changes in fair value are based on changes to forward market prices, including extrapolation of short-term observable inputs into forecasted prices for illiquid forward periods. In circumstances where fair value cannot be verified with observable market transactions, it is possible that a different valuation model could produce a materially different estimate of fair value. Modeling methodologies, inputs and techniques are reviewed and assessed as markets continue to develop and more pricing information becomes available and the fair value is adjusted when it is concluded that a change in inputs or techniques would result in a new valuation that better reflects the fair value of those derivative contracts.

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SCE

The following table sets forth assets and liabilities of SCE that were accounted for at fair value by level within the fair value hierarchy:

	June 30, 2015
(in millions)	Level 1		Level 2		Level 3			Netting and Collateral1			Total
Assets at fair value
Derivative contracts	$	—	$	—	$	273		$	—		$	273
Other	46		—		—			—			46
Nuclear decommissioning trusts:
Stocks2	2,084		—		—			—			2,084
Fixed Income3	1,029		1,607		—			—			2,636
Short-term investments, primarily cash equivalents	26		145		—			—			171
Subtotal of nuclear decommissioning trusts4	3,139		1,752		—			—			4,891
Total assets	3,185		1,752		273			—			5,210
Liabilities at fair value
Derivative contracts	—		29		1,317			(29		)	1,317
Total liabilities	—		29		1,317			(29		)	1,317
Net assets (liabilities)	$	3,185	$	1,723	$	(1,044	)	$	29		$	3,893

	December 31, 2014
(in millions)	Level 1		Level 2		Level 3			Netting and Collateral1			Total
Assets at fair value
Derivative contracts	$	—	$	—	$	321		$	—		$	321
Other	33		—		—			—			33
Nuclear decommissioning trusts:
Stocks2	2,031		—		—			—			2,031
Fixed Income3	703		1,350		—			—			2,053
Short-term investments, primarily cash equivalents	606		166		—			—			772
Subtotal of nuclear decommissioning trusts4	3,340		1,516		—			—			4,856
Total assets	3,373		1,516		321			—			5,210
Liabilities at fair value
Derivative contracts	—		86		1,223			(61		)	1,248
Total liabilities	—		86		1,223			(61		)	1,248
Net assets (liabilities)	$	3,373	$	1,430	$	(902	)	$	61		$	3,962

¹  Represents the netting of assets and liabilities under master netting agreements and cash collateral across the levels of the fair value hierarchy. Netting among positions classified within the same level is included in that level.

²  Approximately 72% and 73% of SCE's equity investments were located in the United States at June 30, 2015 and December 31, 2014, respectively.

³  Includes corporate bonds, which were diversified and included collateralized mortgage obligations and other asset backed securities of $162 million and $49 million at June 30, 2015 and December 31, 2014, respectively.

⁴  Excludes net payables of $55 million and net payables of $57 million at June 30, 2015 and December 31, 2014, which consist of interest and dividend receivables as well as receivables and payables related to SCE's pending securities sales and purchases.

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Edison International

Edison International assets measured at fair value consisted of money market funds of $56 million and $35 million at June 30, 2015 and December 31, 2014, respectively, classified as Level 1.

SCE Fair Value of Level 3

The following table sets forth a summary of changes in SCE's fair value of Level 3 net derivative assets and liabilities:

	Three months ended June 30,						Six months ended June 30,
(in millions)	2015			2014			2015			2014
Fair value of net liabilities at beginning of period	$	(976	)	$	(773	)	$	(902	)	$	(805	)
Total realized/unrealized gains (losses):
Included in regulatory assets and liabilities1	(68		)	(108		)	(142		)	(77		)
Purchases	—			8			—			15
Settlements	—			(5		)	—			(11		)
Fair value of net liabilities at end of period	$	(1,044	)	$	(878	)	$	(1,044	)	$	(878	)
Change during the period in unrealized gains and losses related to assets and liabilities held at the end of the period	$	(65	)	$	(116	)	$	(148	)	$	(84	)

¹  Due to regulatory mechanisms, SCE's realized and unrealized gains and losses are recorded as regulatory assets and liabilities.

Edison International and SCE recognize the fair value for transfers in and transfers out of each level at the end of each reporting period. There were no transfers between any levels during 2015 and 2014.

Valuation Techniques Used to Determine Fair Value

The process of determining fair value is the responsibility of SCE's risk management department, which reports to SCE's chief financial officer. This department obtains observable and unobservable inputs through broker quotes, exchanges and internal valuation techniques that use both standard and proprietary models to determine fair value. Each reporting period, the risk and finance departments collaborate to determine the appropriate fair value methodologies and classifications for each derivative. Inputs are validated for reasonableness by comparison against prior prices, other broker quotes and volatility fluctuation thresholds. Inputs used and valuations are reviewed period-over-period and compared with market conditions to determine reasonableness.

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The following table sets forth SCE's valuation techniques and significant unobservable inputs used to determine fair value for significant Level 3 assets and liabilities:

	Fair Value (in millions)					Significant	Range
	Assets		Liabilities		Valuation Technique(s)	Unobservable Input	(Weighted Average)
Congestion revenue rights
June 30, 2015	$	261	$	—	Market simulation model	Load forecast	7,630 MW - 25,431 MW
						Power prices1	$1.65 - $109.95
						Gas prices2	$3.65 - $6.53
December 31, 2014	317		—		Market simulation model	Load forecast	7,630 MW - 25,431 MW
						Power prices1	$1.65 - $109.95
						Gas prices2	$3.65 - $6.53
Tolling
June 30, 2015	6		1,316		Option model	Volatility of gas prices	15% - 42% (20%)
						Volatility of power prices	26% - 96% (30%)
						Power prices	$30.62 - $54.60 ($39.50)
December 31, 2014	4		1,207		Option model	Volatility of gas prices	13% - 53% (20%)
						Volatility of power prices	25% - 42% (30%)
						Power prices	$30.60 - $61.40 ($44.60)

¹  Prices are in dollars per megawatt-hour.

²  Prices are in dollars per million British thermal units.

Level 3 Fair Value Sensitivity

Congestion Revenue Rights

For CRRs, where SCE is the buyer, generally increases (decreases) in forecasted load in isolation would result in increases (decreases) to the fair value. In general, an increase (decrease) in electricity and gas prices at illiquid locations tends to result in increases (decreases) to fair value; however, changes in electricity and gas prices in opposite directions may have varying results on fair value.

Tolling Arrangements

The fair values of SCE's tolling arrangements contain intrinsic value and time value. Intrinsic value is the difference between the market price and strike price of the underlying commodity. Time value is made up of several components, including volatility, time to expiration, and interest rates. The option model for tolling arrangements reflects plant specific information such as operating and start-up costs.

For tolling arrangements where SCE is the buyer, increases in volatility of the underlying commodity prices would result in increases to fair value as it represents greater price movement risk. As power and gas prices increase, the fair value of tolling arrangements tends to increase. The valuation of tolling arrangements is also impacted by the correlation between gas and power prices. As the correlation increases, the fair value of tolling arrangements tends to decline.

Nuclear Decommissioning Trusts

SCE's nuclear decommissioning trust investments include equity securities, U.S. treasury securities and other fixed income securities. Equity and treasury securities are classified as Level 1 as fair value is determined by observable market prices in active or highly liquid and transparent markets. The remaining fixed income securities are classified as Level 2. The fair value of these financial instruments is based on evaluated prices that reflect significant observable market information such as reported trades, actual trade information of similar securities, benchmark yields, broker/dealer quotes, issuer spreads, bids, offers and relevant credit information.

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Fair Value of Debt Recorded at Carrying Value

The carrying value and fair value of Edison International's and SCE's long-term debt (including current portion of long-term debt) are as follows:

	June 30, 2015				December 31, 2014
(in millions)	Carrying Value		Fair Value		Carrying Value		Fair Value
SCE	$	10,654	$	11,569	$	9,924	$	11,479
Edison International	11,469		12,406		10,738		12,319

The fair value of Edison International and SCE's short-term and long-term debt is classified as Level 2 and is based on evaluated prices that reflect significant observable market information such as reported trades, actual trade information of similar securities, benchmark yields, broker/dealer quotes of new issue prices and relevant credit information.

The carrying value of Edison International's and SCE's trade receivables and payables, other investments, and short-term debt approximates fair value.

Note 5.    Debt and Credit Agreements

Credit Agreements and Short-Term Debt

SCE and Edison International Parent have multi-year revolving credit facilities of $2.75 billion and $1.25 billion, respectively. In July 2015, SCE and Edison International Parent amended the credit facilities to extend the maturity dates to July 2020 for $2.6 billion and $1.18 billion, respectively. The remaining $150 million and $68 million for the SCE and Edison International Parent credit facilities, respectively, will mature in July 2019. SCE's credit facility is generally used to support commercial paper borrowings and letters of credit issued for procurement-related collateral requirements, balancing account undercollections and for general corporate purposes, including working capital requirements to support operations and capital expenditures. Edison International Parent's credit facility is used to support commercial paper borrowings and for general corporate purposes.

At June 30, 2015, SCE's outstanding commercial paper was $852 million at a weighted-average interest rate of 0.34%. At June 30, 2015, letters of credit issued under SCE's credit facility aggregated $117 million and are scheduled to expire in twelve months or less. At December 31, 2014, the outstanding commercial paper was $367 million at a weighted-average interest rate of 0.40%.

At June 30, 2015, Edison International Parent's outstanding commercial paper was $545 million at a weighted-average interest rate of 0.48%. At December 31, 2014, the outstanding commercial paper was $619 million at a weighted-average interest rate of 0.45%.

Project Financing

During 2014, indirect subsidiaries of Edison International entered into a $31.6 million non-recourse debt financing to support investment in approximately 35 megawatts of solar rooftop projects. The financing is required to be converted to a 7-year term loan during 2015, subject to meeting specified conditions. As of June 30, 2015, there was $18.6 million outstanding under this financing at a weighted average interest rate of 2.69% which is currently classified as short-term debt.

Long-Term Debt

During the first quarter of 2015, SCE issued $550 million of 1.845% amortizing first and refunding mortgage bonds due in 2022, $325 million of 2.4% first and refunding mortgage bonds due in 2022, and $425 million of 3.6% first and refunding mortgage bonds due in 2045. The proceeds from these bonds were used to repay outstanding debt and for general corporate purposes. The $550 million amortizing first and refunding mortgage bonds and the $325 million of first and refunding mortgage bonds have been designated as a financing of the San Onofre regulatory asset.

During the second quarter of 2015, SCE reissued $56 million of 1.875% pollution-control bonds due in 2029 and $75 million of 1.875% pollution-control bonds due in 2031. The proceeds were used to repay commercial paper borrowings and for general corporate purposes.

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Note 6.    Derivative Instruments

Derivative financial instruments are used to manage exposure to commodity price risk. These risks are managed in part by entering into forward commodity transactions, including options, swaps and futures. To mitigate credit risk from counterparties in the event of nonperformance, master netting agreements are used whenever possible and counterparties may be required to pledge collateral depending on the creditworthiness of each counterparty and the risk associated with the transaction.

Commodity Price Risk

Commodity price risk represents the potential impact that can be caused by a change in the market value of a particular commodity. SCE's electricity price exposure arises from energy purchased from and sold to wholesale markets as a result of differences between SCE's load requirements and the amount of energy delivered from its generating facilities and power purchase agreements. SCE's natural gas price exposure arises from natural gas purchased for the Mountainview power plant and peaker plants, QF contracts where pricing is based on a monthly natural gas index and power purchase agreements in which SCE has agreed to provide the natural gas needed for generation, referred to as tolling arrangements.

Credit and Default Risk

Credit and default risk represent the potential impact that can be caused if a counterparty were to default on its contractual obligations and SCE would be exposed to spot markets for buying replacement power or selling excess power. In addition, SCE would be exposed to the risk of non-payment of accounts receivable, primarily related to the sales of excess power and realized gains on derivative instruments.

Certain power contracts contain master netting agreements or similar agreements, which generally allow counterparties subject to the agreement to setoff amounts when certain criteria are met, such as in the event of default. The objective of netting is to reduce credit exposure. Additionally, to reduce SCE's risk exposures counterparties may be required to pledge collateral depending on the creditworthiness of each counterparty and the risk associated with the transaction.

Certain power contracts contain a provision that requires SCE to maintain an investment grade rating from each of the major credit rating agencies, referred to as a credit-risk-related contingent feature. If SCE's credit rating were to fall below investment grade, SCE may be required to post additional collateral to cover derivative liabilities and the related outstanding payables. The net fair value of all derivative liabilities with these credit-risk-related contingent features was $36 million and $53 million as of June 30, 2015 and December 31, 2014, respectively. SCE has posted no collateral at June 30, 2015 and $13 million at December 31, 2014 to its counterparties at the respective dates for its derivative liabilities and related outstanding payables. If the credit-risk-related contingent features underlying these agreements were triggered on June 30, 2015, SCE would be required to post $34 million of additional collateral.

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Fair Value of Derivative Instruments

SCE presents its derivative assets and liabilities on a net basis on its consolidated balance sheets when subject to master netting agreements or similar agreements. Derivative positions are offset against margin and cash collateral deposits. In addition, SCE has provided collateral in the form of letters of credit. Collateral requirements can vary depending upon the level of unsecured credit extended by counterparties, changes in market prices relative to contractual commitments and other factors. See Note 4 for a discussion of fair value of derivative instruments. The following table summarizes the gross and net fair values of SCE's commodity derivative instruments:

	June 30, 2015
	Derivative Assets								Derivative Liabilities								Net Liability
(in millions)	Short-Term			Long-Term		Subtotal			Short-Term			Long-Term		Subtotal
Commodity derivative contracts
Gross amounts recognized	$	92		$	194	$	286		$	204		$	1,155	$	1,359		$	1,073
Gross amounts offset in the consolidated balance sheets	(13		)	—		(13		)	(13		)	—		(13		)	—
Cash collateral posted1	—			—		—			(29		)	—		(29		)	(29		)
Net amounts presented in the consolidated balance sheets	$	79		$	194	$	273		$	162		$	1,155	$	1,317		$	1,044

	December 31, 2014
	Derivative Assets								Derivative Liabilities								Net Liability
(in millions)	Short-Term			Long-Term		Subtotal			Short-Term			Long-Term		Subtotal
Commodity derivative contracts
Gross amounts recognized	$	104		$	219	$	323		$	259		$	1,052	$	1,311		$	988
Gross amounts offset in the consolidated balance sheets	(2		)	—		(2		)	(2		)	—		(2		)	—
Cash collateral posted1	—			—		—			(61		)	—		(61		)	(61		)
Net amounts presented in the consolidated balance sheets	$	102		$	219	$	321		$	196		$	1,052	$	1,248		$	927

¹  In addition, at June 30, 2015 and December 31, 2014, SCE had posted $34 million and $36 million, respectively, of collateral that is not offset against derivative liabilities and is reflected in "Other current assets" on the consolidated balance sheets.

Income Statement Impact of Derivative Instruments

SCE recognizes realized gains and losses on derivative instruments as purchased power expense and expects that such gains or losses will be part of the purchase power costs recovered from customers. As a result, realized gains and losses do not affect earnings, but may temporarily affect cash flows. Due to expected future recovery from customers, unrealized gains and losses are recorded as regulatory assets and liabilities and therefore also do not affect earnings. The results of derivative activities and related regulatory offsets are recorded in cash flows from operating activities in the consolidated statements of cash flows.

The following table summarizes the components of SCE's economic hedging activity:

	Three months ended June 30,						Six months ended June 30,
(in millions)	2015			2014			2015			2014
Realized losses	$	(39	)	$	(4	)	$	(75	)	$	(41	)
Unrealized losses	(16		)	(110		)	(85		)	(58		)

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Notional Volumes of Derivative Instruments

The following table summarizes the notional volumes of derivatives used for SCE hedging activities:

	Unit of	Economic Hedges
Commodity	Measure	June 30, 2015	December 31, 2014
Electricity options, swaps and forwards	GWh	5,323	3,618
Natural gas options, swaps and forwards	Bcf	88	83
Congestion revenue rights	GWh	96,541	122,859
Tolling arrangements	GWh	75,352	79,989

Note 7.    Income Taxes

Effective Tax Rate

The table below provides a reconciliation of income tax expense computed at the federal statutory income tax rate to the income tax provision:

	Three months ended June 30,						Six months ended June 30,
(in millions)	2015			2014			2015			2014
Edison International:
Income from continuing operations before income taxes	$	412		$	466		$	837		$	671
Provision for income tax at federal statutory rate of 35%	144			164			293			235
Increase (decrease) in income tax from:
State tax, net of federal benefit	5			6			16			7
Property-related	(69		)	(55		)	(129		)	(106		)
Change related to uncertain tax positions	(77		)	(21		)	(62		)	(14		)
San Onofre OII settlement	—			—			—			(40		)
Other	3			(10		)	(5		)	(17		)
Total income tax expense from continuing operations	$	6		$	84		$	113		$	65
Effective tax rate	1.5		%	18.0		%	13.5		%	9.7		%
SCE:
Income from continuing operations before income taxes	$	419		$	490		$	860		$	712
Provision for income tax at federal statutory rate of 35%	147			171			301			249
Increase (decrease) in income tax from:
State tax, net of federal benefit	2			9			16			10
Property-related	(69		)	(55		)	(129		)	(106		)
Change related to uncertain tax positions	(75		)	(17		)	(65		)	(10		)
San Onofre OII settlement	—			—			—			(40		)
Other	2			(10		)	(8		)	(17		)
Total income tax expense from continuing operations	$	7		$	98		$	115		$	86
Effective tax rate	1.7		%	20.0		%	13.4		%	12.1		%

The CPUC requires flow-through ratemaking treatment for the current tax benefit arising from certain property-related and other temporary differences which reverse over time. The accounting treatment for these temporary differences results in recording regulatory assets and liabilities for amounts that would otherwise be recorded to deferred income tax expense.

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Property-related items include recognition of income tax benefits from repair deductions. The CPUC classifies repair deductions as a flow-through item which affects earnings to the extent actual income tax benefits from repair deductions differ from the estimated amounts included in authorized revenue. Income tax benefits for repair deductions in excess of the amounts recorded as a reduction in revenue on an after tax basis were $8 million and $24 million for the three months ended June 30, 2015 and 2014, respectively, and were $15 million and $49 million for the six months ended June 30, 2015 and 2014, respectively.

During the three months ended June 30, 2015, SCE recorded $18 million of additional income taxes for revisions to estimated net operating loss carrybacks, interest and state income taxes.

Tax Disputes

Tax Years 2007 – 2009

Edison International received a Revenue Agent Report from the IRS in February 2013 which included a proposed adjustment to disallow a component of SCE's percentage repair allowance deduction. The proposed adjustment, if sustained, would result in a federal tax liability of approximately $79 million, including interest through June 30, 2015. Edison International has tentatively reached an agreement with the IRS regarding SCE’s percentage repair allowance deduction, which if finalized, would result in a federal tax liability of approximately $16 million, including interest through June 30, 2015. The IRS also proposed an adjustment for 2008 and 2009 to disallow deductions related to certain capitalized overhead expenses. If this adjustment were sustained, it would result in a federal tax liability of approximately $123 million, including interest through June 30, 2015. Edison International disagrees with the proposed adjustment and has appealed.

Tax Years 2010 – 2012

The IRS Revenue Agent Report was received in June 2015. As a result, Edison International and SCE have re-measured its Federal and State uncertain tax positions and recorded $94 million and $100 million, respectively, of income tax benefits including interest and penalty during the second quarter of 2015. The Revenue Agent Report included a proposed adjustment to disallow deductions related to certain capitalized overhead expenses. If this adjustment is sustained, it would result in a federal tax liability of approximately $99 million, including interest through June 30, 2015. Edison International disagrees with the proposed adjustment and plans to appeal. SCE has agreed to the remaining proposed adjustments in the Revenue Agent Report.

Note 8.    Compensation and Benefit Plans

Pension Plans

Edison International made contributions of $45 million during the six months ended June 30, 2015, which includes contributions of $38 million by SCE. Edison International expects to make contributions of $76 million during the remainder of 2015, which includes $54 million from SCE. Annual contributions made by SCE to most of SCE's pension plans are anticipated to be recovered through CPUC-approved regulatory mechanisms, pending the outcome of the 2015 GRC decision. Annual contributions to these plans are expected to be, at a minimum, equal to the related annual expense.

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Pension expense components for continuing operations are:

	Three months ended June 30,						Six months ended June 30,
(in millions)	2015			2014			2015			2014
Edison International:
Service cost	$	35		$	29		$	70		$	59
Interest cost	42			48			83			93
Expected return on plan assets	(57		)	(60		)	(114		)	(117		)
Amortization of prior service cost	1			2			2			3
Amortization of net loss1	9			1			18			2
Expense under accounting standards	$	30		$	20		$	59		$	40
Regulatory adjustment	(2		)	30			(3		)	61
Total expense recognized	$	28		$	50		$	56		$	101
SCE:
Service cost	$	34		$	29		$	69		$	58
Interest cost	37			44			75			88
Expected return on plan assets	(54		)	(56		)	(107		)	(112		)
Amortization of prior service cost	2			1			3			2
Amortization of net loss1	8			1			15			1
Expense under accounting standards	$	27		$	19		$	55		$	37
Regulatory adjustment	(1		)	30			(2		)	61
Total expense recognized	$	26		$	49		$	53		$	98

¹  Includes the amount of net loss reclassified from other comprehensive income. The amount reclassified for Edison International and SCE was $4 million and $2 million, respectively, for the three months ended June 30, 2015, and $7 million and $4 million, respectively, for the six months ended June 30, 2015. The amount reclassified for Edison International and SCE was $1 million and $1 million, respectively, for the three months ended June 30, 2014 and $3 million and $2 million, respectively, for the six months ended June 30, 2014.

Postretirement Benefits Other Than Pensions

Edison International made contributions of $30 million during the six months ended June 30, 2015 and expects to make contributions of $29 million during the remainder of 2015, substantially all of which are expected to be made by SCE. Annual contributions made to SCE plans are anticipated to be recovered through CPUC-approved regulatory mechanisms and are expected to be, at a minimum, equal to the total annual expense for these plans, pending the outcome of the 2015 GRC decision. Benefits under these plans, with some exceptions, are generally unvested and subject to change. Under the terms of the Edison International Health and Welfare Plan ("PBOP Plan") each participating employer (Edison International or its participating subsidiaries) is responsible for the costs and expenses of all PBOP benefits with respect to its employees and former employees. A participating employer may terminate the PBOP benefits with respect to its employees and former employees, as may SCE (as Plan sponsor), and, accordingly, the participants' PBOP benefits are not vested benefits.

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PBOP expense components for continuing operations are:

	Three months ended June 30,						Six months ended June 30,
(in millions)	2015			2014			2015			2014
Edison International:
Service cost	$	12		$	11		$	24		$	22
Interest cost	28			27			57			54
Expected return on plan assets	(29		)	(28		)	(57		)	(56		)
Amortization of prior service cost	(3		)	(9		)	(6		)	(18		)
Amortization of net loss	6			—			12			—
Total expense	$	14		$	1		$	30		$	2
SCE:
Service cost	$	12		$	11		$	24		$	22
Interest cost	28			27			56			54
Expected return on plan assets	(28		)	(28		)	(56		)	(56		)
Amortization of prior service cost	(3		)	(9		)	(6		)	(18		)
Amortization of net loss	5			—			11			—
Total expense	$	14		$	1		$	29		$	2

Workforce Reductions

SCE continues to focus on productivity improvements to mitigate rate pressure from its capital program, optimize its cost structure and improve operational efficiency, which is expected to result in further workforce reductions through 2016. During the second quarter of 2015, SCE increased the estimated impact for workforce reduction approved through the end of the quarter. During the second quarter of 2014, SCE increased the estimated impact for workforce reductions related to transferring certain information technology activities to third parties.

The following table provides a summary of changes in the accrued severance liability associated with these reductions:

(in millions)
Balance at January 1, 2015	$	35
Additions	10
Payments	(24		)
Balance at June 30, 2015	$	21

The liability presented in the table above is reflected in "Other current liabilities" on the consolidated balance sheets. The severance costs are included in "Operation and maintenance" on the consolidated income statements.

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Note 9.    Investments

Nuclear Decommissioning Trusts

Future decommissioning costs related to SCE's nuclear assets are expected to be funded from independent decommissioning trusts.

The following table sets forth amortized cost and fair value of the trust investments:

	Longest Maturity Dates	Amortized Cost				Fair Value
(in millions)		June 30, 2015		December 31, 2014		June 30, 2015		December 31, 2014
Stocks	—	$	560	$	524	$	2,084	$	2,031
Municipal bonds	2054	705		681		826		822
U.S. government and agency securities	2045	1,116		777		1,173		836
Corporate bonds	2057	591		346		637		395
Short-term investments and receivables/payables1	One-year	113		692		116		715
Total		$	3,085	$	3,020	$	4,836	$	4,799

¹ Short-term investments include $140 million of repurchase agreements payable by financial institutions which earn interest, are fully secured by U.S. Treasury securities and mature by July 8, 2015.

Trust fund earnings (based on specific identification) increase the trust fund balance and the ARO regulatory liability. Proceeds from sales of securities (which are reinvested) were $4.4 billion and $2.2 billion for the three months ended June 30, 2015 and 2014, respectively, and $7.3 billion and $3.8 billion for the six months ended June 30, 2015 and 2014, respectively. Unrealized holding gains, net of losses, were $1.8 billion at both June 30, 2015 and December 31, 2014.

The following table sets forth a summary of changes in the fair value of the trust:

	Three months ended June 30,						Six months ended June 30,
(in millions)	2015			2014			2015			2014
Balance at beginning of period	$	4,896		$	4,587		$	4,799		$	4,494
Gross realized gains	5			28			32			38
Gross realized losses	(3		)	—			(5		)	—
Unrealized (losses) gains, net	(71		)	107			(27		)	169
Other-than-temporary impairments	(8		)	(3		)	(12		)	(6		)
Interest and dividends	32			33			60			62
Contributions	—			—			7			5
Income taxes	(14		)	(11		)	(14		)	(19		)
Administrative expenses and other	(1		)	(1		)	(4		)	(3		)
Balance at end of period	$	4,836		$	4,740		$	4,836		$	4,740

Trust assets are used to pay income taxes as the Trust files separate income taxes returns from SCE. Deferred income taxes related to unrealized gains at June 30, 2015 were $427 million. Accordingly, the fair value of Trust assets available to pay future decommissioning costs, net of deferred income taxes, totaled $4.4 billion at June 30, 2015. Due to regulatory mechanisms, changes in assets of the trusts from income items have no impact on operating revenue or earnings.

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Note 10.    Regulatory Assets and Liabilities

Regulatory Assets

SCE's regulatory assets included on the consolidated balance sheets are:

(in millions)	June 30, 2015		December 31, 2014
Current:
Regulatory balancing accounts	$	911	$	1,088
Energy derivatives	116		159
Other	39		7
Total current	1,066		1,254
Long-term:
Deferred income taxes, net	3,777		3,405
Pensions and other postretirement benefits	1,210		1,218
Energy derivatives	975		850
Unamortized investments, net	217		255
San Onofre	1,203		1,288
Unamortized loss on reacquired debt	210		201
Regulatory balancing accounts	54		44
Other	363		351
Total long-term	8,009		7,612
Total regulatory assets	$	9,075	$	8,866

Regulatory Liabilities

SCE's regulatory liabilities included on the consolidated balance sheets are:

(in millions)	June 30, 2015		December 31, 2014
Current:
Regulatory balancing accounts	$	354	$	380
Other1	100		21
Total current	454		401
Long-term:
Costs of removal	2,767		2,826
Recoveries in excess of ARO liabilities2	1,908		1,956
Regulatory balancing accounts	1,080		1,083
Other	58		24
Total long-term	5,813		5,889
Total regulatory liabilities	$	6,267	$	6,290

¹  During the six months ended June 30, 2015, SCE recognized revenue from CPUC activities largely based on 2014 authorized base revenue requirements included in customer rates. SCE deferred $49 million and $85 million of the 2014 authorized base revenue requirement allocated to the second quarter and first six months of 2015, respectively, related to incremental repair deductions pending the outcome of the 2015 GRC.

² Represents the cumulative differences between ARO expenses and amounts collected in rates primarily for the decommissioning of the SCE's nuclear generation facilities. Decommissioning costs recovered through rates are primarily placed in nuclear decommissioning trusts. This regulatory liability also represents the deferral of realized and unrealized gains and losses on the nuclear decommissioning trust investments. See Note 9.

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Net Regulatory Balancing Accounts

The following table summarizes the significant components of regulatory balancing accounts included in the above tables of regulatory assets and liabilities:

(in millions)	June 30, 2015			December 31, 2014
Asset (liability)
Energy resource recovery account	$	543		$	1,028
New system generation balancing account	(139		)	35
Public purpose programs and energy efficiency programs	(752		)	(874		)
Base rate recovery balancing account	74			(5		)
Greenhouse gas auction revenue	(145		)	(182		)
FERC balancing accounts	44			(32		)
Generator settlements	(3		)	(197		)
Other	(91		)	(104		)
Liability	$	(469	)	$	(331	)

Note 11.    Commitments and Contingencies

Third-Party Power Purchase Agreements

During the six months ended June 30, 2015, SCE had new power procurement contracts with additional commitments estimated to be: $41 million for remainder of 2015, $208 million for 2016, $297 million for 2017, $347 million for 2018, $384 million for 2019 and $4.7 billion for the period remaining thereafter.

Indemnities

Edison International and SCE have various financial and performance guarantees and indemnity agreements which are issued in the normal course of business.

Edison International and SCE have provided indemnifications through contracts entered into in the normal course of business. These are primarily indemnifications against adverse litigation outcomes in connection with underwriting agreements, and indemnities for specified environmental liabilities and income taxes with respect to assets sold. Edison International's and SCE's obligations under these agreements may or may not be limited in terms of time and/or amount, and in some instances Edison International and SCE may have recourse against third parties. Edison International and SCE have not recorded a liability related to these indemnities. The overall maximum amount of the obligations under these indemnifications cannot be reasonably estimated.

SCE has indemnified the City of Redlands, California in connection with Mountainview's California Energy Commission permit for cleanup or associated actions related to groundwater contaminated by perchlorate due to the disposal of filter cake at the City's solid waste landfill. The obligations under this agreement are not limited to a specific time period or subject to a maximum liability. SCE has not recorded a liability related to this indemnity.

Contingencies

In addition to the matters disclosed in these Notes, Edison International and SCE are involved in other legal, tax and regulatory proceedings before various courts and governmental agencies regarding matters arising in the ordinary course of business. Edison International and SCE believe the outcome of these other proceedings will not, individually or in the aggregate, materially affect its results of operations or liquidity.

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San Onofre Related Matters

Replacement steam generators were installed at San Onofre in 2010 and 2011. On January 31, 2012, a leak suddenly occurred in one of the heat transfer tubes in San Onofre's Unit 3 steam generators. The Unit was safely taken off-line and subsequent inspections revealed excessive tube wear. Unit 2 was off-line for a planned outage when areas of unexpected tube wear were also discovered. On June 6, 2013, SCE decided to permanently retire Units 2 and 3.

Settlement of San Onofre CPUC Proceedings

In November 2014, the CPUC approved the San Onofre OII Settlement Agreement that SCE had entered into with TURN, ORA, SDG&E, the Coalition of California Utility Employees, and Friends of the Earth. The San Onofre OII Settlement Agreement resolved the CPUC's investigation regarding the Steam Generator Replacement Project at San Onofre and the related outages and subsequent shutdown of San Onofre. The San Onofre OII Settlement Agreement does not affect proceedings related to recoveries from third parties described below, but does describe how shareholders and customers will share any potential recoveries.

A federal lawsuit challenging the CPUC's authority to permit rate recovery of San Onofre costs and an application to the CPUC for rehearing of its decision approving the San Onofre OII Settlement Agreement were filed in November and December 2014, respectively. In April 2015, the federal lawsuit was dismissed with prejudice and the plaintiffs in that case appealed the dismissal to the Ninth Circuit in May 2015. Both the appeal and the application for rehearing remain pending.

In February 2015, SCE filed in the OII proceeding a Late-Filed Notice of Ex Parte Communication regarding a meeting in March 2013 between an SCE senior executive and the president of the CPUC, both of whom have since retired from their respective positions. Following this filing, the Alliance for Nuclear Responsibility ("A4NR"), one of the intervenors in the OII, filed a motion requesting that the CPUC institute an investigation into whether sanctions should be imposed on SCE for the late notice of the March 2013 meeting. The motion requests that the CPUC order SCE to produce all ex parte communications between SCE and the CPUC or its staff since January 31, 2012 and all internal SCE unprivileged communications that discuss such ex parte communications. On May 6, 2015, A4NR amended its motion to recommend that the CPUC impose a $38.2 million penalty on SCE and additional restrictions on ex parte communications.

On April 14, 2015, the OII ALJs ordered SCE, among other things, to produce unprivileged documents pertaining to oral and written communications regarding the possible settlement of the OII proceeding between any SCE employee and CPUC decision makers from March 2013 to November 2014. SCE produced responsive documents and information on April 29, 2015. On June 26, 2015, the ALJs requested additional information, which SCE provided on July 3, 2015. Subsequently, another intervenor, the Coalition to Decommission San Onofre, filed a motion to move the start date for the production of documents under the CPUC’s order to January 31, 2012 and to authorize the intervenors to conduct discovery of SCE. That motion remains pending.

On April 17, 2015, ORA and TURN issued press releases asking the CPUC to impose penalties on SCE as a sanction for allegedly improper ex parte communications pertaining to San Onofre or failures to report such communications. ORA recommended penalties in the amount of $648 million, representing ORA's calculation of the difference in ratepayer value between ORA's initial settlement negotiating position in the San Onofre OII and the approved settlement. TURN did not recommend a penalty amount. 

On April 27, 2015, A4NR filed a petition to modify the CPUC’s decision approving the San Onofre OII Settlement Agreement based on SCE’s alleged failures to disclose communications between SCE and CPUC decision-makers pertaining to the issues in the San Onofre OII. The petition seeks the reversal of the decision approving the San Onofre OII Settlement Agreement and reopening of the OII proceeding. Subsequently, TURN filed a response supporting A4NR's petition to reopen the San Onofre OII proceeding.

Edison International and SCE cannot predict the outcome of these proceedings.

NEIL Insurance Claims

San Onofre carries accidental property damage and carried accidental outage insurance issued by Nuclear Electric Insurance Limited ("NEIL") and has placed NEIL on notice of claims under both policies. The NEIL policies have a number of exclusions and limitations that NEIL may assert reduce or eliminate coverage (such as a limitation under which benefits may be reduced by up to 90% for periods following a planned shutdown), and SCE may choose to challenge NEIL's application of any such exclusions and limitations. Through August 30, 2014, the San Onofre owners had submitted approximately $433 million in claims (SCE's share of which is approximately $339 million) under the accidental outage insurance. These claims continue to be under review and are subject to revision and updating over time. The accidental outage insurance at San

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Onofre has been canceled prospectively as a result of the permanent retirement. SCE has not submitted a proof of loss under the accidental property damage insurance but reserves the right to do so. The parties are continuing discussions. SCE may challenge any reduction or denial of coverage that results from any coverage determination by NEIL. No amounts have been recognized in SCE's financial statements, pending NEIL's response to the San Onofre owners’ claims.

Under the San Onofre OII Settlement Agreement, recoveries from NEIL, if any, will first be applied to reimburse costs incurred in pursuing such recoveries, including litigation costs. To the extent SCE's share of recoveries from NEIL exceeds such costs, recoveries under the accidental outage insurance will be allocated 95% to customers and 5% to SCE and all other NEIL recoveries will be allocated 82.5% to customers and 17.5% to SCE. SCE customers' portion of amounts recovered from NEIL would be distributed to SCE customers via a credit to SCE's ERRA account.

MHI Claims

SCE is also pursuing claims against Mitsubishi Heavy Industries, Ltd. and a related company ("MHI"), which designed and supplied the RSGs. MHI warranted the RSGs for an initial period of 20 years from acceptance and is contractually obligated to repair or replace defective items with dispatch and to pay specified damages for certain repairs. MHI's stated liability under the purchase agreement is limited to $138 million and excludes consequential damages, defined to include "the cost of replacement power;" however, limitations in the contract are subject to applicable exceptions both in the contract and under law. SCE has advised MHI that it believes one or more of such exceptions apply and that MHI's liability is not limited to $138 million. MHI has advised SCE that it disagrees. In October 2013, SCE sent MHI a formal request for binding arbitration under the auspices of the International Chamber of Commerce in accordance with the purchase contract seeking damages for all losses. In the request for arbitration, SCE alleges contract and tort claims and seeks at least $4 billion in damages on behalf of itself and its customers and in its capacity as Operating Agent for San Onofre. MHI has denied any liability and has asserted counterclaims for $41 million, for which SCE has denied any liability. Each of the other San Onofre owners sued MHI, alleging claims arising from MHI's supplying the faulty steam generators. These litigation claims have been stayed pending the arbitration. The other owners (SDG&E and Riverside) have been added as additional claimants in the arbitration. The arbitration is being conducted pursuant to a confidentiality order issued by the arbitration panel.

SCE, on behalf of itself and the other San Onofre owners, has submitted seven invoices to MHI totaling $149 million for steam generator repair costs incurred through April 30, 2013. MHI paid the first invoice of $45 million, while reserving its right to challenge it and subsequently rejected a portion of the first invoice and has not paid further invoices, claiming further documentation is required, which SCE disputes. SCE recorded its share of the invoice paid (approximately $35 million) as a reduction of repair and inspection costs in 2012.

Under the San Onofre OII Settlement Agreement, recoveries from MHI (including amounts paid by MHI under the first invoice), if any, will first be applied to reimburse costs incurred in pursuing such recoveries, including litigation costs. To the extent SCE's share of recoveries from MHI exceed such costs, they will be allocated 50% to customers and 50% to SCE.

The first $282 million of SCE's customers' portion of such recoveries from MHI will be distributed to customers via a credit to a sub-account of SCE's Base Revenue Requirement Balancing Account ("BRRBA"), reducing revenue requirements from customers. Amounts in excess of the first $282 million distributable to SCE customers will reduce SCE's regulatory asset represented by the unamortized balance of investment in San Onofre base plant, reducing the revenue requirement needed to amortize such investment. The amortization period, however, will be unaffected. Any additional amounts received after the regulatory asset is recovered will be applied to the BRRBA.

The San Onofre OII Settlement Agreement provides the utilities with the discretion to resolve the NEIL and MHI disputes without CPUC approval or review, but the utilities are obligated to use their best efforts to inform the CPUC of any settlement or other resolution of these disputes to the extent this is possible without compromising any aspect of the resolution. SCE and SDG&E have also agreed to allow the CPUC to review the documentation of any final resolution of the NEIL and MHI disputes and the litigation costs incurred in pursuing claims against NEIL and MHI to ensure they are not exorbitant in relation to the recovery obtained. There is no assurance that there will be any recoveries from NEIL or MHI or, that if there are recoveries, that they will equal or exceed the costs incurred to pursue them.

NRC Proceedings

In February 2015, the NRC issued a proposed decision resolving the review of SCE's compliance with the license amendment regulatory process related to the RSGs by an NRC Staff Petition Review Board by finding the issue to be moot, given the permanent cessation of operation of San Onofre. In March 2015, the NRC issued a lessons learned report in which it restated earlier NRC inspection findings that SCE properly concluded that the replacement steam generators at San Onofre did not require a formal license amendment prior to installation using a common NRC process for replacement components.

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Certain anti-nuclear groups and individual members of Congress have alleged that SCE knew of deficiencies in the steam generators when they were installed or otherwise did not correctly follow NRC requirements for the design and installation of the replacement steam generators, all of which SCE has vigorously denied, and have called for investigations, including by the Department of Justice. SCE cannot predict when or whether ongoing proceedings by the NRC will be completed or whether inquiries by other government agencies concerning how the RSG project was conducted will be initiated or reopened.

Environmental Remediation

SCE records its environmental remediation liabilities when site assessments and/or remedial actions are probable and a range of reasonably likely cleanup costs can be estimated. SCE reviews its sites and measures the liability quarterly, by assessing a range of reasonably likely costs for each identified site using currently available information, including existing technology, presently enacted laws and regulations, experience gained at similar sites, and the probable level of involvement and financial condition of other potentially responsible parties. These estimates include costs for site investigations, remediation, operation and maintenance, monitoring and site closure. Unless there is a single probable amount, SCE records the lower end of this reasonably likely range of costs (reflected in "Other long-term liabilities") at undiscounted amounts as timing of cash flows is uncertain.

At June 30, 2015, SCE's recorded estimated minimum liability to remediate its 19 identified material sites (sites in which the upper end of the range of the costs is at least $1 million) was $115 million, including $83 million related to San Onofre. In addition to these sites, SCE also has 39 immaterial sites for which the total minimum recorded liability was $4 million. Of the $119 million total environmental remediation liability for SCE, $116 million has been recorded as a regulatory asset. SCE expects to recover $30 million through an incentive mechanism that allows SCE to recover 90% of its environmental remediation costs at certain sites (SCE may request to include additional sites) and $85 million through a mechanism that allows SCE to recover 100% of the costs incurred at certain sites through customer rates. SCE's identified sites include several sites for which there is a lack of currently available information, including the nature and magnitude of contamination, and the extent, if any, that SCE may be held responsible for contributing to any costs incurred for remediating these sites. Thus, no reasonable estimate of cleanup costs can be made for these sites.

The ultimate costs to clean up SCE's identified sites may vary from its recorded liability due to numerous uncertainties inherent in the estimation process, such as: the extent and nature of contamination; the scarcity of reliable data for identified sites; the varying costs of alternative cleanup methods; developments resulting from investigatory studies; the possibility of identifying additional sites; and the time periods over which site remediation is expected to occur. SCE believes that, due to these uncertainties, it is reasonably possible that cleanup costs at the identified material sites and immaterial sites could exceed its recorded liability by up to $159 million and $8 million, respectively. The upper limit of this range of costs was estimated using assumptions least favorable to SCE among a range of reasonably possible outcomes.

SCE expects to clean up and mitigate its identified sites over a period of up to 30 years. Remediation costs for each of the next four years are expected to range from $6 million to $24 million. Costs incurred for both the six months ended June 30, 2015 and 2014 were $3 million and $1 million.

Based upon the CPUC's regulatory treatment of environmental remediation costs incurred at SCE, SCE believes that costs ultimately recorded will not materially affect its results of operations, financial position or cash flows. There can be no assurance, however, that future developments, including additional information about existing sites or the identification of new sites, will not require material revisions to estimates.

Nuclear Insurance

SCE is a member of NEIL, a mutual insurance company owned by entities with nuclear facilities. NEIL provides insurance for nuclear property damage, including damages caused by acts of terrorism up to specified limits, and for accidental outages for active facilities. The amount of nuclear property damage insurance purchased for San Onofre and Palo Verde exceeds the minimum federal requirement of $1.06 billion. If NEIL losses at any nuclear facility covered by the arrangement were to exceed the accumulated funds for these insurance programs, SCE could be assessed retrospective premium adjustments of up to approximately $52 million per year.

Federal law limits public offsite liability claims for bodily injury and property damage from a nuclear incident to the amount of available financial protection, which is currently approximately $13.4 billion. Based on its ownership interests, SCE could be required to pay a maximum of approximately $255 million per nuclear incident. However, it would have to pay no more than approximately $38 million per incident in any one year.

For more information on nuclear insurance coverage, see Note 11 in the 2014 Form 10-K.

48

Wildfire Insurance

Severe wildfires in California have given rise to large damage claims against California utilities for fire-related losses alleged to be the result of the failure of electric and other utility equipment. Invoking a California Court of Appeal decision, plaintiffs pursuing these claims have relied on the doctrine of inverse condemnation, which can impose strict liability (including liability for a claimant's attorneys' fees) for property damage. Prolonged drought conditions in California have also increased the risk of severe wildfire events. On June 1, 2015, Edison International renewed its liability insurance coverage, which included coverage for SCE's wildfire liabilities up to a $610 million limit (with a self-insured retention of $10 million per wildfire occurrence). Various coverage limitations within the policies that make up this insurance coverage could result in additional self-insured costs in the event of multiple wildfire occurrences during the policy period (June 1, 2015 to May 31, 2016). SCE also has additional coverage for certain wildfire liabilities of $390 million, which applies when total covered wildfire claims exceed $610 million, through June 14, 2016. SCE may experience coverage reductions and/or increased insurance costs in future years. No assurance can be given that future losses will not exceed the limits of SCE's insurance coverage.

Spent Nuclear Fuel

Under federal law, the Department of Energy ("DOE") is responsible for the selection and construction of a facility for the permanent disposal of spent nuclear fuel and high-level radioactive waste. The DOE has not met its contractual obligation to accept spent nuclear fuel. Extended delays by the DOE have led to the construction of costly alternatives and associated siting and environmental issues. Currently, both San Onofre and Palo Verde have interim storage for spent nuclear fuel on site sufficient for the current license period.

SCE, as operating agent, filed a lawsuit on behalf of the San Onofre owners against the DOE in the Court of Federal Claims seeking damages of approximately $182 million for the DOE's failure to meet its obligation to begin accepting spent nuclear fuel for the period from January 1, 2006 to December 31, 2013. Additional legal action would be necessary to recover damages incurred after December 31, 2013. All damages recovered by SCE are subject to CPUC review as to how these amounts would be distributed among customers, shareholders, or to offset fuel decommissioning or storage costs.

Note 12.    Accumulated Other Comprehensive Loss

Edison International's accumulated other comprehensive loss, net of tax consist of:

	Three months ended June 30,						Six months ended June 30,
(in millions)	2015			2014			2015			2014
Beginning balance	$	(59	)	$	(11	)	$	(58	)	$	(13	)
Pension and PBOP – net income (loss):
Other comprehensive loss before reclassifications	(1		)	(5		)	(4		)	(5		)
Reclassified from accumulated other comprehensive loss1	4			1			6			3
Other	—			2			—			2
Change	3			(2		)	2			—
Ending Balance	$	(56	)	$	(13	)	$	(56	)	$	(13	)

¹  These items are included in the computation of net periodic pension and PBOP expense. See Note 8 for additional information.

SCE's accumulated other comprehensive loss, net of tax consist of:

	Three months ended June 30,						Six months ended June 30,
(in millions)	2015			2014			2015			2014
Beginning balance	$	(27	)	$	(10	)	$	(28	)	$	(11	)
Pension and PBOP – net income (loss):
Other comprehensive loss before reclassifications	(1		)	—			(1		)	—
Reclassified from accumulated other comprehensive loss1	2			—			3			1
Other	—			2			—			2
Change	1			2			2			3
Ending Balance	$	(26	)	$	(8	)	$	(26	)	$	(8	)

¹  These items are included in the computation of net periodic pension and PBOP expense. See Note 8 for additional information.

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Note 13.    Interest and Other Income and Other Expenses

Interest and other income and other expenses are as follows:

	Three months ended June 30,				Six months ended June 30,
(in millions)	2015		2014		2015		2014
SCE interest and other income:
Equity allowance for funds used during construction	$	21	$	15	$	42	$	28
Generator settlements	—		14		—		14
Increase in cash surrender value of life insurance policies and life insurance benefits	7		12		17		18
Interest income	2		3		3		5
Other	1		2		2		4
Total SCE interest and other income	31		46		64		69
Other income of Edison International Parent and Other	12		—		18		—
Total Edison International interest and other income	$	43	$	46	$	82	$	69
SCE other expenses:
Civic, political and related activities and donations	$	9	$	9	$	14	$	13
Other	8		6		10		10
Total SCE other expenses	17		15		24		23
Other expense of Edison International Parent and Other	—		1		—		—
Total Edison International other expenses	$	17	$	16	$	24	$	23

SCE has participated in proceedings seeking recovery of refunds from sellers of electricity and natural gas who manipulated the electric and natural gas markets during the energy crisis in California in 2000 – 2011. SCE is authorized to refund to customers any refunds actually realized by SCE, net of litigation costs and amounts retained by SCE as a shareholder incentive pursuant to an established sharing arrangement. During the second quarter of 2014, FERC approved generator refund settlement agreements which resulted in total refunds to customers of $208 million of which $14 million is subject to the shareholder incentive.

Edison Capital continues to wind down its remaining affordable housing investments. Edison International other income reflects Edison Capital's income related to the sale of affordable housing projects.

Note 14.    Discontinued Operations

EME Chapter 11 Bankruptcy

In December 2012, EME and certain of its wholly-owned subsidiaries filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Northern District of Illinois, Eastern Division. The Amended Plan of Reorganization, including the EME Settlement Agreement, was completed on April 1, 2014 with the sale of substantially all of EME's assets to NRG Energy, Inc. and the transactions called for in the EME Settlement Agreement, including an initial cash payment to the Reorganization Trust of $225 million in April 2014. For further discussion of the EME Settlement Agreement, see the 2014 Form 10-K, "Notes to Consolidated Financial Statements—Note 15."

In August 2014, Edison International entered into an amendment of the EME Settlement Agreement that finalized the remaining matters related to the EME Settlement including setting the amount of the two installment payments at $204 million due on September 30, 2015 and $214 million due on September 30, 2016.

Income from discontinued operations, net of tax, was $184 million and $162 million for the three and the six months ended June 30, 2014, respectively.

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Note 15.    Supplemental Cash Flows Information

Supplemental cash flows information for continuing operations is:

	Edison International					SCE
	Six months ended June 30,
(in millions)	2015			2014		2015			2014
Cash payments for interest and taxes:
Interest, net of amounts capitalized	$	230		$	226	$	222		$	225
Tax payments, net	3			189		125			14
Non-cash financing and investing activities:
Dividends declared but not paid:
Common stock	$	136		$	116	$	147		$	126
Preferred and preference stock	18			18		18			18
Details of debt exchange:
Pollution-control bonds redeemed (2.875%)	$	(203	)	$	—	$	(203	)	$	—
Pollution-control bonds issued (1.875%)	203			—		203			—

SCE's accrued capital expenditures at June 30, 2015 and 2014 were $393 million and $451 million, respectively. Accrued capital expenditures will be included as an investing activity in the consolidated statements of cash flow in the period paid.

During 2015, an SCE power contract classified as a capital lease was amended, which resulted in a reduction in the lease obligation and asset by $147 million.

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CONTROLS AND PROCEDURES

Disclosure Controls and Procedures

The management of Edison International and SCE, under the supervision and with the participation of Edison International's Chief Executive Officer and Chief Financial Officer and SCE's President and Chief Financial Officer, have evaluated the effectiveness of Edison International's and SCE's disclosure controls and procedures (as that term is defined in Rules 13a-15(e) or 15d-15(e) under the Securities Exchange Act of 1934, as amended), respectively, as of the end of the second quarter of 2015. Based on that evaluation, Edison International's Chief Executive Officer and Chief Financial Officer and SCE's President and Chief Financial Officer have each concluded that, as of the end of the period, Edison International's and SCE's disclosure controls and procedures, respectively, were effective.

Changes in Internal Control Over Financial Reporting

Beginning in 2015, SCE commenced transitioning a portion of its information technology services to third-party providers under managed services agreements. The transition of day-to-day responsibilities to outside service providers has resulted in certain changes to business processes and internal controls over financial reporting. SCE continues to be responsible for the design and operating effectiveness of controls over financial reporting and has taken steps to provide oversight of controls performed by its managed service provider during this period of change and will continue to evaluate the operating effectiveness of related controls during subsequent periods.

There were no other changes in Edison International's or SCE's internal control over financial reporting, respectively, during the second quarter of 2015 that have materially affected, or are reasonably likely to materially affect, Edison International's or SCE's internal control over financial reporting.

Jointly Owned Utility Plant

Edison International's and SCE's respective scope of evaluation of internal control over financial reporting includes their Jointly Owned Utility Projects as discussed in Note 2. Property, Plant and Equipment in the 2014 Form 10-K.

LEGAL PROCEEDINGS

Shaver Lake Dam Project Administrative Civil Liability Complaint

In 2011, SCE installed a PVC plastic geomembrane liner on the Shaver Lake Dam to prevent water seepage. Before starting the project, SCE received the required regulatory permits and approvals. SCE and the California Department of Fish and Wildlife executed a Streambed Alteration Agreement in November 2011 that governed SCE's activities in Shaver Lake as required by state and federal law. SCE also obtained the required federal Clean Water Act Certification in November 2011 for the project's completion.

In February 2012, the California Department of Fish and Wildlife and the Central Valley Regional Water Quality control Board issued letters alleging that SCE had violated provisions of the Streambed Alteration Agreement and certain conditions of the federal Clean Water Act Certification, respectively. Both letters alleged that during the draining of Shaver Lake, SCE failed to prevent the discharge of sediment into an adjoining creek, causing the deaths of fish in the lake and creek. In October 2014, SCE received a pre-issuance draft of an Administrative Civil Liability Complaint from the Central Valley Regional Water Quality Control Board alleging violations of certain permit conditions relating to the Shaver Lake Dam Project. The Regional Water Quality Control Board is seeking $25 million in civil penalties for the violations. SCE disputes the allegations.

Dominguez Channel Oil Spill Complaint

SCE has been named as a defendant in a criminal misdemeanor complaint filed by the L.A. City Attorney's office arising from a 2013 oil spill associated with the failure of an underground primary cable and ground rod located in close proximity to a pipeline controlled by a private pipeline management company. The City's complaint alleges that 840 gallons of oil leaked from the pipeline into the City's storm drain which connected to the Dominguez channel. The private pipeline management company is also named as a defendant in the complaint. The City alleges violations of the California Fish and Game code as well as other state statutes and city ordinances.

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UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

Purchases of Equity Securities by Edison International and Affiliated Purchasers

The following table contains information about all purchases of Edison International Common Stock made by or on behalf of Edison International in the second quarter of 2015.

Period	(a) Total Number of Shares (or Units) Purchased1	(b) Average Price Paid per Share (or Unit)1			(c) Total Number of Shares (or Units) Purchased as Part of Publicly Announced Plans or Programs	(d) Maximum Number (or Approximate Dollar Value) of Shares (or Units) that May Yet Be Purchased Under the Plans or Programs
April 1, 2015 to April 30, 2015	96,733		$	62.78	—	—
May 1, 2015 to May 31, 2015	94,045		60.25		—	—
June 1, 2015 to June 30, 2015	262,290		58.39		—	—
Total	453,068		59.71		—	—

¹  The shares were purchased by agents acting on Edison International's behalf for delivery to plan participants to fulfill requirements in connection with Edison International's: (i) 401(k) Savings Plan; (ii) Dividend Reinvestment and Direct Stock Purchase Plan; and (iii) long-term incentive compensation plans. The shares were purchased in open-market transactions pursuant to plan terms or participant elections. The shares were never registered in Edison International's name and none of the shares purchased were retired as a result of the transactions.

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EXHIBITS

Exhibit Number	Description
10.1**	Edison International and Southern California Edison Company Director Compensation Schedule, as adopted June 17, 2015
10.2	Amended and Restated Credit Agreement dated as of July 14, 2015 among Edison International and the Lenders named therein (File 1-9936, filed as Exhibit 10.1 to Edison International's Form 8-K dated July 14, 2015 and filed July 17, 2015)*
10.3	Amended and Restated Credit Agreement dated as of July 14, 2015 among Southern California Edison Company and the Lenders named therein (File 1-2313, filed as Exhibit 10.2 to Southern California Edison Company's Form 8-K dated July 14, 2015 and filed July 17, 2015)*
31.1	Certifications of the Chief Executive Officer and Chief Financial Officer of Edison International pursuant to Section 302 of the Sarbanes-Oxley Act
31.2	Certifications of the Chief Executive Officer and Chief Financial Officer of Southern California Edison Company pursuant to Section 302 of the Sarbanes-Oxley Act
32.1	Certifications of the Chief Executive Officer and the Chief Financial Officer of Edison International required by Section 906 of the Sarbanes-Oxley Act
32.2	Certifications of the Chief Executive Officer and the Chief Financial Officer of Southern California Edison Company required by Section 906 of the Sarbanes-Oxley Act
101.1	Financial statements from the quarterly report on Form 10-Q of Edison International for the quarter ended June 30, 2015, filed on July 30, 2015, formatted in XBRL: (i) the Consolidated Statements of Income; (ii) the Consolidated Statements of Comprehensive Income; (iii) the Consolidated Balance Sheets; (iv) the Consolidated Statements of Cash Flows; and (v) the Notes to Consolidated Financial Statements
101.2	Financial statements from the quarterly report on Form 10-Q of Southern California Edison Company for the quarter ended June 30, 2015, filed on July 30, 2015, formatted in XBRL: (i) the Consolidated Statements of Income; (ii) the Consolidated Statements of Comprehensive Income; (iii) the Consolidated Balance Sheets; (iv) the Consolidated Statements of Cash Flows; and (v) the Notes to Consolidated Financial Statements

________________________________________

* Incorporated by reference pursuant to Rule 12b-32.

** Indicates a management contract or compensatory plan or arrangement, as required by Item 15(a)(3).

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SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned, thereunto duly authorized.

	EDISON INTERNATIONAL		SOUTHERN CALIFORNIA EDISON COMPANY
By:	/s/ Mark C. Clarke	By:	/s/ Connie J. Erickson
	Mark C. Clarke Vice President and Controller (Duly Authorized Officer and Principal Accounting Officer)		Connie J. Erickson Vice President and Controller (Duly Authorized Officer and Principal Accounting Officer)
Date:	July 30, 2015	Date:	July 30, 2015

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EX-10.1

Exhibit 10.1

EDISON INTERNATIONAL AND SOUTHERN CALIFORNIA EDISON COMPANY

DIRECTOR COMPENSATION SCHEDULE

As Adopted June 17, 2015

Effective July 1, 2015 and except as otherwise provided below, non-employee Directors of Edison International (“EIX”) and/or Southern California Edison Company (“SCE”) will receive the annual retainers, meeting fees, meeting expenses and equity‑based awards described below as compensation for serving as a Director. The equity-based award provisions described below are effective for Directors elected or reelected on or after the date of the EIX and SCE 2016 annual shareholders’ meeting.

Directors who are employees of EIX or SCE shall not receive additional compensation for serving as Directors (other than participation in the EIX Director Matching Gifts Program). Directors who serve on both the EIX Board and the SCE Board, and their corresponding Board Committees, will not receive additional compensation, including additional meeting fees for SCE business meetings held concurrently or consecutively with a corresponding EIX business meeting.

Annual Retainers

Board Retainer - Each Director will receive an annual board retainer of $110,000 to be paid in advance in quarterly installments of $27,500 for any calendar quarter or portion thereof during which the individual serves as a Director.

Board Committee Chair Retainer - Each Director who serves as the Chair of a Board Committee will receive an annual retainer of $12,500, except the Director who serves as the Chair of the Audit Committee will receive an annual retainer of $20,000 and the Director who serves as the Chair of the Compensation and Executive Personnel Committee will receive an annual retainer of $15,000. The Committee Chair retainers shall be paid in advance in equal quarterly installments for any calendar quarter or portion thereof during which the Director serves as a Committee Chair.

Lead Director Retainer - Each Director who serves as the lead director of the non‑employee and/or independent Director executive sessions of the Board shall receive an annual retainer of $25,000. The retainer shall be paid in advance in equal quarterly installments for any calendar quarter or portion thereof during which the Director serves as a Lead Director.

The quarterly retainer installments will be paid on the first business day of the calendar quarter. Initial quarterly retainer installments will be paid as soon as possible following the date of the election.

Meeting Fees

No meeting fee shall be paid for attending a meeting of the Board, any Board Committee, or shareholders. Each Director will receive $2,000 for each business meeting attended at the request or invitation of the Chairman of the Board, on behalf of the corporation in his or her capacity as a Director. Each Director shall receive only one meeting fee for any concurrent meetings attended by the Director. Full meeting fees will be paid if the Director attends any portion of any meeting.

Meeting fees will be paid on the first business day of either the first or second month following the month in which the meeting occurred.

Meeting Expenses

Reasonable expenses incurred by a Director to attend Board meetings, Committee meetings, or business meetings attended on behalf of the corporation in his or her capacity as a Director will be promptly reimbursed upon presentation of a statement of the expenses to the Secretary.¹

Equity-Based Awards²

Equity-based awards (“Awards”) will be granted under and subject to the terms of the EIX 2007 Performance Incentive Plan or a successor plan (the “Plan”), except that any award payable in cash will be deemed paid outside of the Plan. The Awards consist of fully vested Edison International deferred stock units (“DSUs”) and/or Edison International common stock (“Common Stock”). DSUs represent the value of one share of Common Stock and will be credited to the Director’s account under the EIX Director Deferred Compensation Plan and subject to the terms of that plan. DSUs include dividend equivalent rights that are converted to additional DSUs. The number of DSUs or shares of Common Stock awarded to a Director in any particular instance will be calculated by dividing the applicable equity award amount to be granted on that date (expressed in dollars and determined as set forth below, the “Award Amount”) by the fair

_______________________________

¹  To the extent any expense reimbursements provided for in this Director Compensation Schedule are taxable to a Director and provide for a deferral of compensation within the meaning of Section 409A of the Internal Revenue Code, the Director shall complete all steps required for reimbursement so as to facilitate payment, and any such reimbursements shall be paid to the Director on or before December 31 of the calendar year following the calendar year in which the expense was incurred. Such reimbursements shall not be subject to liquidation or exchange for other benefits, and the expenses eligible for reimbursement in one calendar year shall not affect the expenses eligible for reimbursement in any other calendar year.

²  With respect to equity-based awards approved and granted under current and prior compensation plans by the EIX Board, this Director Compensation Schedule does not alter the intent of the EIX Board to have the awards and subsequent transactions by the Directors occurring pursuant to the awards continue to comply with and be exempt under Section 16(b) of the Securities Exchange Act of 1934, as amended, pursuant to Rule 16b-3 promulgated thereunder (or any successor provision thereto).

2

market value of a share of Common Stock as of that date, rounded up to the nearest whole share. Fair market value for these purposes shall be determined in accordance with the Plan. Each Award will be subject to terms and conditions approved in advance by the Board.

Initial Election Award - Upon the initial election of a Director to the Board, the Director will receive an award of DSUs with an aggregate Award Amount of $135,000, the date of grant of which shall be the date of such election.

Annual Reelection Award - Each Director reelected to the Board will receive Common Stock and/or DSUs with an aggregate Award Amount of $135,000, the date of grant of which shall be the date of such reelection. The portion of the award to be granted in Common Stock and/or DSUs shall be specified in advance by the Director as provided in the next paragraph.

Prior to the year the Annual Reelection Award is granted, the Director may elect to receive the award entirely in shares of Common Stock, entirely in DSUs, or in any combination of each, except that if a fractional share would result, the Common Stock portion will be rounded up to the next whole share and the DSU portion will be rounded down to the next whole DSU. If no such election is timely made by the Director for a particular year, the Director’s Annual Reelection Award (if any) for that year will be entirely Common Stock.

EIX Affiliate Boards - SCE non-employee Directors who do not serve on the EIX Board will receive Awards equal in amount to EIX non-employee Directors if the SCE Board authorizes such compensation. Differing amounts of SCE Awards, and Awards for non‑employee directors of other EIX affiliates, may only be made with additional approval of the EIX Board.

Matching Gift Program

Directors of EIX and SCE are eligible to participate in the EIX Director Matching Gifts Program.

3

EX-31.1

Exhibit 31.1

CERTIFICATION

I, THEODORE F. CRAVER, JR., certify that:

1.    I have reviewed this Quarterly Report on Form 10-Q for the quarter ended June 30, 2015, of Edison International;

2.    Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.    Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.    The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a)    Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)    Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)    Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d)    Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5.    The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a)    All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b)    Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: July 30, 2015

/s/ THEODORE F. CRAVER, JR.

THEODORE F. CRAVER, JR.

Chief Executive Officer

Exhibit 31.1

CERTIFICATION

I, W. JAMES SCILACCI, certify that:

1.    I have reviewed this Quarterly Report on Form 10-Q for the quarter ended June 30, 2015, of Edison International;

2.    Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.    Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.    The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15(d)-15(f)) for the registrant and have:

(a)    Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)    Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)    Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d)    Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5.    The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a)    All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b)    Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: July 30, 2015

/s/ W. JAMES SCILACCI

W. JAMES SCILACCI

Chief Financial Officer

EX-31.2

Exhibit 31.2

CERTIFICATION

I, PEDRO J. PIZARRO, certify that:

1.    I have reviewed this Quarterly Report on Form 10-Q for the quarter ended June 30, 2015, of Southern California Edison Company;

2.    Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.    Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.    The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15(d)-15(f)) for the registrant and have:

        (a)   Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

        (b)   Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

        (c)   Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

        (d)   Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5.    The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

        (a)   All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

        (b)   Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: July 30, 2015

/s/ PEDRO J. PIZARRO

PEDRO J. PIZARRO

President

Exhibit 31.2

CERTIFICATION

I, MARIA RIGATTI, certify that:

1.    I have reviewed this Quarterly Report on Form 10-Q for the quarter ended June 30, 2015, of Southern California Edison Company;

2.    Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.    Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.    The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15(d)-15(f)) for the registrant and have:

        (a)   Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

        (b)   Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

        (c)   Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

        (d)   Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5.    The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

        (a)   All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

        (b)   Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: July 30, 2015

/s/ MARIA RIGATTI

MARIA RIGATTI

Chief Financial Officer

EX-32.1

Exhibit 32.1

STATEMENT PURSUANT TO 18 U.S.C. SECTION 1350, AS

ENACTED BY SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the accompanying Quarterly Report on Form 10-Q for the quarter ended June 30, 2015 (the "Quarterly Report"), of Edison International (the "Company"), and pursuant to 18 U.S.C. Section 1350, as enacted by Section 906 of the Sarbanes-Oxley Act of 2002, each of the undersigned certifies, to the best of his knowledge, that:

1. The Quarterly Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m(a) or 78o(d)); and

2. The information contained in the Quarterly Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date: July 30, 2015

/s/ THEODORE F. CRAVER, JR.

THEODORE F. CRAVER, JR.

Chief Executive Officer

Edison International

/s/ W. JAMES SCILACCI

W. JAMES SCILACCI

Chief Financial Officer

Edison International

This statement accompanies the Quarterly Report pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and shall not, except to the extent required by the Sarbanes-Oxley Act of 2002, be deemed filed by the Company for purposes of Section 18 of the Securities Exchange Act of 1934, as amended.

A signed original of this written statement has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

EX-32.2

Exhibit 32.2

STATEMENT PURSUANT TO 18 U.S.C. SECTION 1350, AS

ENACTED BY SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the accompanying Quarterly Report on Form 10-Q for the quarter ended June 30, 2015 (the "Quarterly Report"), of Southern California Edison Company (the "Company"), and pursuant to 18 U.S.C. Section 1350, as enacted by Section 906 of the Sarbanes-Oxley Act of 2002, each of the undersigned certifies, to the best of his or her knowledge, that:

1. The Quarterly Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m(a) or 78o(d)); and

2. The information contained in the Quarterly Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date: July 30, 2015

/s/ PEDRO J. PIZARRO

PEDRO J. PIZARRO

President

Southern California Edison Company

/s/ MARIA RIGATTI

MARIA RIGATTI

Chief Financial Officer

Southern California Edison Company

This statement accompanies the Quarterly Report pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and shall not, except to the extent required by the Sarbanes-Oxley Act of 2002, be deemed filed by the Company for purposes of Section 18 of the Securities Exchange Act of 1934, as amended.

A signed original of this written statement has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

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Consolidated Statements of Changes in Equity (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, at the beginning of the period			$ 12,982	$ 11,691
Net income			734	768
Other comprehensive income (loss)	$ 3	$ (2)	2	0
Common stock dividends declared			(272)	(231)
Dividends to noncontrolling interests			(56)	(57)
Stock-based compensation			(55)	(51)
Non-cash stock-based compensation			12	14
Issuance of preference stock				269
Balance, at the end of the period	$ 13,347	$ 12,403	$ 13,347	$ 12,403
Dividends declared per common share (in dollars per share)	$ 0.4175	$ 0.3550	$ 0.8350	$ 0.7100
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, at the beginning of the period			$ 2,445	$ 2,403
Net income			0	0
Other comprehensive income (loss)			0
Common stock dividends declared			0	0
Dividends to noncontrolling interests			0	0
Stock-based compensation			15	17
Non-cash stock-based compensation			12	14
Issuance of preference stock				0
Balance, at the end of the period	$ 2,472	$ 2,434	2,472	2,434
Accumulated Other Comprehensive Loss
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, at the beginning of the period			(58)	(13)
Net income			0	0
Other comprehensive income (loss)			2
Common stock dividends declared			0	0
Dividends to noncontrolling interests			0	0
Stock-based compensation			0	0
Non-cash stock-based compensation			0	0
Issuance of preference stock				0
Balance, at the end of the period	(56)	(13)	(56)	(13)
Retained Earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, at the beginning of the period			8,573	7,548
Net income			678	712
Other comprehensive income (loss)			0
Common stock dividends declared			(272)	(231)
Dividends to noncontrolling interests			0	0
Stock-based compensation			(70)	(68)
Non-cash stock-based compensation			0	(1)
Issuance of preference stock				0
Balance, at the end of the period	8,909	7,960	8,909	7,960
Subtotal
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, at the beginning of the period			10,960	9,938
Net income			678	712
Other comprehensive income (loss)			2
Common stock dividends declared			(272)	(231)
Dividends to noncontrolling interests			0	0
Stock-based compensation			(55)	(51)
Non-cash stock-based compensation			12	13
Issuance of preference stock				0
Balance, at the end of the period	11,325	10,381	11,325	10,381
Preferred and preference stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, at the beginning of the period			2,022	1,753
Net income			56	56
Other comprehensive income (loss)			0
Common stock dividends declared			0	0
Dividends to noncontrolling interests			(56)	(57)
Stock-based compensation			0	0
Non-cash stock-based compensation			0	1
Issuance of preference stock				269
Balance, at the end of the period	2,022	2,022	2,022	2,022
Southern California Edison
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, at the beginning of the period			13,282	12,138
Net income			745	626
Other comprehensive income (loss)	1	2	2	3
Common stock dividends declared			(294)	(252)
Dividends declared on preferred and preference stock			(56)	(57)
Stock-based compensation			(17)	(30)
Non-cash stock-based compensation			6	3
Issuance of preference stock				269
Balance, at the end of the period	13,668	12,700	13,668	12,700
Southern California Edison | Common stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, at the beginning of the period			2,168	2,168
Net income			0	0
Other comprehensive income (loss)			0	0
Common stock dividends declared			0	0
Dividends declared on preferred and preference stock			0	0
Stock-based compensation			0	0
Non-cash stock-based compensation			0	0
Issuance of preference stock				0
Balance, at the end of the period	2,168	2,168	2,168	2,168
Southern California Edison | Additional Paid-in Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, at the beginning of the period			618	592
Net income			0	0
Other comprehensive income (loss)			0	0
Common stock dividends declared			0	0
Dividends declared on preferred and preference stock			0	0
Stock-based compensation			6	12
Non-cash stock-based compensation			6	5
Issuance of preference stock				(6)
Balance, at the end of the period	630	603	630	603
Southern California Edison | Accumulated Other Comprehensive Loss
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, at the beginning of the period			(28)	(11)
Net income			0	0
Other comprehensive income (loss)			2	3
Common stock dividends declared			0	0
Dividends declared on preferred and preference stock			0	0
Stock-based compensation			0	0
Non-cash stock-based compensation			0	0
Issuance of preference stock				0
Balance, at the end of the period	(26)	(8)	(26)	(8)
Southern California Edison | Retained Earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, at the beginning of the period			8,454	7,594
Net income			745	626
Other comprehensive income (loss)			0	0
Common stock dividends declared			(294)	(252)
Dividends declared on preferred and preference stock			(56)	(57)
Stock-based compensation			(23)	(42)
Non-cash stock-based compensation			0	(2)
Issuance of preference stock				0
Balance, at the end of the period	8,826	7,867	8,826	7,867
Southern California Edison | Preferred and preference stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, at the beginning of the period			2,070	1,795
Other comprehensive income (loss)			0	0
Common stock dividends declared			0	0
Dividends declared on preferred and preference stock			0	0
Stock-based compensation			0	0
Non-cash stock-based compensation			0	0
Issuance of preference stock				275
Balance, at the end of the period	$ 2,070	$ 2,070	$ 2,070	$ 2,070

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Investments (Amortized Cost and Fair Value of Nuclear Decommissioning Trusts) (Details) - Southern California Edison - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Nuclear Decommissioning Trusts Disclosures
Amortized Cost	$ 3,085	$ 3,020
Fair Value	$ 4,836	4,799
Stocks
Nuclear Decommissioning Trusts Disclosures
Maturity Dates Decommissioning Trust Investments	0
Amortized Cost	$ 560	524
Fair Value	$ 2,084	2,031
Municipal bonds
Nuclear Decommissioning Trusts Disclosures
Maturity Dates Decommissioning Trust Investments	2054
Amortized Cost	$ 705	681
Fair Value	$ 826	822
U.S. government and agency securities
Nuclear Decommissioning Trusts Disclosures
Maturity Dates Decommissioning Trust Investments	2045
Amortized Cost	$ 1,116	777
Fair Value	$ 1,173	836
Corporate bonds
Nuclear Decommissioning Trusts Disclosures
Maturity Dates Decommissioning Trust Investments	2057
Amortized Cost	$ 591	346
Fair Value	637	395
Short-term investments and receivables/payables
Fair Value Disclosures:
Repurchase agreement	$ 140
Nuclear Decommissioning Trusts Disclosures
Longest Maturity Dates	1 year
Amortized Cost	$ 113	692
Fair Value	$ 116	$ 715

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Derivative Instruments (Additional Disclosures) (Details) - Southern California Edison - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Electric Utility | Economic hedges
Derivatives
Aggregate fair value of all derivative liabilities with credit-risk-related contingent features	$ 36,000,000		$ 36,000,000		$ 53,000,000
Collateral already posted	0		0		13,000,000
Potential amount of collateral to be posted if contingencies triggered	34,000,000		34,000,000
Realized losses	(39,000,000)	$ (4,000,000)	(75,000,000)	$ (41,000,000)
Unrealized losses	(16,000,000)	$ (110,000,000)	(85,000,000)	$ (58,000,000)
Other Current Assets | Commodity Contracts
Derivatives
Collateral already posted	$ 34,000,000		$ 34,000,000		$ 36,000,000

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Investments (Summary of Changes in Fair Value of the Nuclear Decommissioning Trusts) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Summary Of Changes In The Fair Value [Roll Forward]
Balance at beginning of period			$ 4,799
Balance at end of period	$ 4,836		4,836
Southern California Edison
Summary Of Changes In The Fair Value [Roll Forward]
Balance at beginning of period	4,896	$ 4,587	4,799	$ 4,494
Gross realized gains	5	28	32	38
Gross realized losses	(3)	0	(5)	0
Unrealized (losses) gains, net	(71)	107	(27)	169
Other-than-temporary impairments	(8)	(3)	(12)	(6)
Interest and dividends	32	33	60	62
Contributions	0	0	7	5
Income taxes	(14)	(11)	(14)	(19)
Administrative expenses and other	(1)	(1)	(4)	(3)
Balance at end of period	$ 4,836	$ 4,740	$ 4,836	$ 4,740

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Derivative Instruments (Balance Sheet Disclosures) (Details) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Fair Value of Derivative Instruments
Short-Term, Derivative Assets	$ 79,000,000	$ 102,000,000
Long-Term, Derivative Assets	194,000,000	219,000,000
Short-Term, Derivative Liabilities	162,000,000	196,000,000
Long-Term, Derivative Liabilities	1,155,000,000	1,052,000,000
Southern California Edison
Fair Value of Derivative Instruments
Short-Term, Derivative Assets	79,000,000	102,000,000
Long-Term, Derivative Assets	194,000,000	219,000,000
Short-Term, Derivative Liabilities	162,000,000	196,000,000
Long-Term, Derivative Liabilities	1,155,000,000	1,052,000,000
Southern California Edison | Electric Utility | Gross amounts recognized
Derivatives
Collateral already posted	0	13,000,000
Southern California Edison | Commodity Contracts | Electric Utility
Fair Value of Derivative Instruments
Short-Term, Derivative Assets	79,000,000	102,000,000
Long-Term, Derivative Assets	194,000,000	219,000,000
Derivative Assets, Total	273,000,000	321,000,000
Short-Term, Derivative Liabilities	162,000,000	196,000,000
Long-Term, Derivative Liabilities	1,155,000,000	1,052,000,000
Derivative Liabilities, Total	1,317,000,000	1,248,000,000
Net Liability	1,044,000,000	927,000,000
Southern California Edison | Commodity Contracts | Electric Utility | Gross amounts recognized
Fair Value of Derivative Instruments
Short-Term, Derivative Assets	92,000,000	104,000,000
Long-Term, Derivative Assets	194,000,000	219,000,000
Derivative Assets, Total	286,000,000	323,000,000
Short-Term, Derivative Liabilities	204,000,000	259,000,000
Long-Term, Derivative Liabilities	1,155,000,000	1,052,000,000
Derivative Liabilities, Total	1,359,000,000	1,311,000,000
Net Liability	1,073,000,000	988,000,000
Southern California Edison | Commodity Contracts | Electric Utility | Gross amounts offset in the consolidated balance sheets
Fair Value of Derivative Instruments
Short-Term, Derivative Assets	(13,000,000)	(2,000,000)
Long-Term, Derivative Assets	0	0
Derivative Assets, Total	(13,000,000)	(2,000,000)
Short-Term, Derivative Liabilities	(13,000,000)	(2,000,000)
Long-Term, Derivative Liabilities	0	0
Derivative Liabilities, Total	(13,000,000)	(2,000,000)
Net Liability	0	0
Southern California Edison | Commodity Contracts | Electric Utility | Cash collateral posted
Fair Value of Derivative Instruments
Short-Term, Derivative Assets	0	0
Long-Term, Derivative Assets	0	0
Derivative Assets, Total	0	0
Short-Term, Derivative Liabilities	(29,000,000)	(61,000,000)
Long-Term, Derivative Liabilities	0	0
Derivative Liabilities, Total	(29,000,000)	(61,000,000)
Net Liability	(29,000,000)	(61,000,000)
Other Current Assets | Southern California Edison | Commodity Contracts
Derivatives
Collateral already posted	$ 34,000,000	$ 36,000,000

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Accumulated Other Comprehensive Loss (Tables)

6 Months Ended

Jun. 30, 2015

Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]

Components of Accumulated Other Comprehensive Loss

Edison International's accumulated other comprehensive loss, net of tax consist of:

	Three months ended June 30,						Six months ended June 30,
(in millions)	2015			2014			2015			2014
Beginning balance	$	(59	)	$	(11	)	$	(58	)	$	(13	)
Pension and PBOP – net income (loss):
Other comprehensive loss before reclassifications	(1		)	(5		)	(4		)	(5		)
Reclassified from accumulated other comprehensive loss1	4			1			6			3
Other	—			2			—			2
Change	3			(2		)	2			—
Ending Balance	$	(56	)	$	(13	)	$	(56	)	$	(13	)

¹  These items are included in the computation of net periodic pension and PBOP expense. See Note 8 for additional information.

SCE's accumulated other comprehensive loss, net of tax consist of:

	Three months ended June 30,						Six months ended June 30,
(in millions)	2015			2014			2015			2014
Beginning balance	$	(27	)	$	(10	)	$	(28	)	$	(11	)
Pension and PBOP – net income (loss):
Other comprehensive loss before reclassifications	(1		)	—			(1		)	—
Reclassified from accumulated other comprehensive loss1	2			—			3			1
Other	—			2			—			2
Change	1			2			2			3
Ending Balance	$	(26	)	$	(8	)	$	(26	)	$	(8	)

¹  These items are included in the computation of net periodic pension and PBOP expense. See Note 8 for additional information.

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Regulatory Assets and Liabilities (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2015	Dec. 31, 2014
Regulatory Assets
Regulatory Assets, Current	$ 1,066	$ 1,066	$ 1,254
Regulatory Asset, Long-term	8,009	8,009	7,612
Regulatory Liabilities
Regulatory Liabilities, Current	454	454	401
Regulatory Liabilities, Long-term	5,813	5,813	5,889
Southern California Edison
Regulatory Assets
Regulatory Assets, Current	1,066	1,066	1,254
Regulatory Asset, Long-term	8,009	8,009	7,612
Total Regulatory Assets	9,075	9,075	8,866
Regulatory Liabilities
Regulatory Liabilities, Current	454	454	401
Regulatory Liabilities, Long-term	5,813	5,813	5,889
Total Regulatory Liabilities	6,267	6,267	6,290
Southern California Edison | Regulatory balancing accounts
Regulatory Assets
Regulatory Assets, Current	911	911	1,088
Regulatory Asset, Long-term	54	54	44
Southern California Edison | Energy derivatives
Regulatory Assets
Regulatory Assets, Current	116	116	159
Regulatory Asset, Long-term	975	975	850
Southern California Edison | San Onofre
Regulatory Assets
Regulatory Asset, Long-term	1,203	1,203	1,288
Southern California Edison | Deferred income taxes, net
Regulatory Assets
Regulatory Asset, Long-term	3,777	3,777	3,405
Southern California Edison | Pensions and other postretirement benefits
Regulatory Assets
Regulatory Asset, Long-term	1,210	1,210	1,218
Southern California Edison | Unamortized investments, net
Regulatory Assets
Regulatory Asset, Long-term	217	217	255
Southern California Edison | Unamortized loss on reacquired debt
Regulatory Assets
Regulatory Asset, Long-term	210	210	201
Southern California Edison | Regulatory balancing accounts
Regulatory Liabilities
Regulatory Liabilities, Current	354	354	380
Regulatory Liabilities, Long-term	1,080	1,080	1,083
Southern California Edison | Other
Regulatory Assets
Regulatory Assets, Current	39	39	7
Regulatory Asset, Long-term	363	363	351
Regulatory Liabilities
Regulatory Liabilities, Current	100	100	21
Regulatory Liabilities, Long-term	58	58	24
Southern California Edison | Costs of removal
Regulatory Liabilities
Regulatory Liabilities, Long-term	2,767	2,767	2,826
Southern California Edison | Recoveries in excess of ARO liabilities
Regulatory Liabilities
Regulatory Liabilities, Long-term	1,908	1,908	$ 1,956
California Public Utilities Commission | Scenario, Forecast
Regulatory Liabilities
Deferral of revenue requirement	$ 49	$ 85

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Consolidated Statements of Changes in Equity (Tables)

6 Months Ended

Jun. 30, 2015

Schedule of Capitalization, Equity [Line Items]

Schedule of changes in equity

The following table provides Edison International's changes in equity for the six months ended June 30, 2015:

	Equity Attributable to Common Shareholders											Noncontrolling Interests
(in millions, except per-share amounts)	Common Stock		Accumulated Other Comprehensive Loss			Retained Earnings			Subtotal			Preferred and Preference Stock			Total Equity
Balance at December 31, 2014	$	2,445	$	(58	)	$	8,573		$	10,960		$	2,022		$	12,982
Net income	—		—			678			678			56			734
Other comprehensive income	—		2			—			2			—			2
Common stock dividends declared ($0.835 per share)	—		—			(272		)	(272		)	—			(272		)
Dividends to noncontrolling interests	—		—			—			—			(56		)	(56		)
Stock-based compensation	15		—			(70		)	(55		)	—			(55		)
Non-cash stock-based compensation	12		—			—			12			—			12
Balance at June 30, 2015	$	2,472	$	(56	)	$	8,909		$	11,325		$	2,022		$	13,347

The following table provides Edison International's changes in equity for the six months ended June 30, 2014:

	Equity Attributable to Common Shareholders											Noncontrolling Interests
(in millions, except per-share amounts)	Common Stock		Accumulated Other Comprehensive Loss			Retained Earnings			Subtotal			Preferred and Preference Stock			Total Equity
Balance at December 31, 2013	$	2,403	$	(13	)	$	7,548		$	9,938		$	1,753		$	11,691
Net income	—		—			712			712			56			768
Common stock dividends declared ($0.71 per share)	—		—			(231		)	(231		)	—			(231		)
Dividends to noncontrolling interests	—		—			—			—			(57		)	(57		)
Stock-based compensation	17		—			(68		)	(51		)	—			(51		)
Non-cash stock-based compensation	14		—			(1		)	13			1			14
Issuance of preference stock	—		—			—			—			269			269
Balance at June 30, 2014	$	2,434	$	(13	)	$	7,960		$	10,381		$	2,022		$	12,403

Southern California Edison

Schedule of Capitalization, Equity [Line Items]

Schedule of changes in equity

The following table provides SCE's changes in equity for the six months ended June 30, 2015:

	Equity Attributable to Edison International
(in millions)	Common Stock		Additional Paid-in Capital		Accumulated Other Comprehensive Loss			Retained Earnings			Preferred and Preference Stock		Total Equity
Balance at December 31, 2014	$	2,168	$	618	$	(28	)	$	8,454		$	2,070	$	13,282
Net income	—		—		—			745			—		745
Other comprehensive income	—		—		2			—			—		2
Dividends declared on common stock	—		—		—			(294		)	—		(294		)
Dividends declared on preferred and preference stock	—		—		—			(56		)	—		(56		)
Stock-based compensation	—		6		—			(23		)	—		(17		)
Non-cash stock-based compensation	—		6		—			—			—		6
Balance at June 30, 2015	$	2,168	$	630	$	(26	)	$	8,826		$	2,070	$	13,668

The following table provides SCE's changes in equity for the six months ended June 30, 2014:

	Equity Attributable to Edison International
(in millions)	Common Stock		Additional Paid-in Capital			Accumulated Other Comprehensive Loss			Retained Earnings			Preferred and Preference Stock		Total Equity
Balance at December 31, 2013	$	2,168	$	592		$	(11	)	$	7,594		$	1,795	$	12,138
Net income	—		—			—			626			—		626
Other comprehensive income	—		—			3			—			—		3
Dividends declared on common stock	—		—			—			(252		)	—		(252		)
Dividends declared on preferred and preference stock	—		—			—			(57		)	—		(57		)
Stock-based compensation	—		12			—			(42		)	—		(30		)
Non-cash stock-based compensation	—		5			—			(2		)	—		3
Issuance of preference stock	—		(6		)	—			—			275		269
Balance at June 30, 2014	$	2,168	$	603		$	(8	)	$	7,867		$	2,070	$	12,700

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Income Taxes (Textual) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Tax Disclosure [Line Items]
Amount of unrecognized tax benefits expected to decrease by the end of the year	$ 123		$ 123
Disallowance of Repair Allowance Deduction
Income Tax Disclosure [Line Items]
Federal tax liability	8	$ 24	15	$ 49
Tax Years 2010 to 2012 | IRS Examination | Disallowance of Repair Allowance Deduction
Income Tax Disclosure [Line Items]
Federal tax liability	94
Amount of unrecognized tax benefits expected to decrease by the end of the year	99		99
Southern California Edison
Income Tax Disclosure [Line Items]
Revisions to taxes	18
Southern California Edison | Tax Years 2007 to 2009 | IRS Examination | Disallowance of Repair Allowance Deduction
Income Tax Disclosure [Line Items]
Estimated potential future federal tax payment as of the balance sheet date, including interest and penalties, based on a proposed adjustment			79
Federal tax liability			$ 16
Southern California Edison | Tax Years 2010 to 2012 | IRS Examination | Disallowance of Repair Allowance Deduction
Income Tax Disclosure [Line Items]
Federal tax liability	$ 100

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Fair Value Measurements (Level 3 Rollforward) (Details) - Southern California Edison - Level 3 - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Fair Value Disclosures Level 3 [Roll Forward]
Fair value of net liabilities at beginning of period	$ (976)	$ (773)	$ (902)	$ (805)
Total realized/unrealized gains (losses):
Included in regulatory assets and liabilities	(68)	(108)	(142)	(77)
Purchases	0	8	0	15
Settlements	0	(5)	0	(11)
Fair value of net liabilities at end of period	(1,044)	(878)	(1,044)	(878)
Change during the period in unrealized losses related to assets and liabilities held at the end of the period	$ (65)	$ (116)	$ (148)	$ (84)

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Summary of Significant Accounting Policies (Cash) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Cash and Cash Equivalents Items [Line Items]
Maximum maturity period of cash equivalent investments (in months)	3 months
Money market funds	$ 56	$ 35
Book balances reclassified to accounts payable	123	180
Southern California Edison
Cash and Cash Equivalents Items [Line Items]
Money market funds	26	5
Book balances reclassified to accounts payable	$ 123	$ 177

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Compensation and Benefit Plans (Workforce Reduction) (Details) - Southern California Edison - Employee severance $ in Millions	6 Months Ended
	Jun. 30, 2015 USD ($)
Restructuring Reserve [Roll Forward]
Balance at January 1, 2015	$ 35
Additions	10
Payments	(24)
Balance at June 30, 2015	$ 21

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Interest and Other Income and Other Expenses (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
SCE interest and other income:
Interest and other income	$ 43	$ 46	$ 82	$ 69
SCE other expenses:
Total Edison International other expenses	17	16	24	23
Southern California Edison
SCE interest and other income:
Equity allowance for funds used during construction	21	15	42	28
Generator settlements	0	14	0	14
Increase in cash surrender value of life insurance policies	7	12	17	18
Interest income	2	3	3	5
Other	1	2	2	4
Total SCE interest and other income	31	46	64	69
Interest and other income	31	46	64	69
SCE other expenses:
Civic, political and related activities and donations	9	9	14	13
Other	8	6	10	10
Total SCE other expenses	17	15	24	23
Total Edison International other expenses	17	15	24	23
Southern California Edison | FERC-Approved Settlement Agreements
SCE other expenses:
Settlement amount		208
Amount subject to shareholder incentive		14
Edison International Parent and Other
SCE interest and other income:
Other income of Edison International Parent and Other	12	0	18	0
SCE other expenses:
Other expense of Edison International Parent and Other	$ 0	$ 1	$ 0	$ 0

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Derivative Instruments (Notional Values) (Details) - Southern California Edison - Electric Utility - Economic hedges	6 Months Ended	12 Months Ended
	Jun. 30, 2015 Bcfe GWh	Dec. 31, 2014 Bcfe GWh
Electricity options, swaps and forwards (GWh)
Derivatives
Notional volumes of derivative instruments	5,323	3,618
Natural gas options, swaps and forwards (Bcf)
Derivatives
Notional volumes of derivative instruments | Bcfe	88	83
Congestion revenue rights (GWh)
Derivatives
Notional volumes of derivative instruments	96,541	122,859
Tolling arrangements (GWh)
Derivatives
Notional volumes of derivative instruments	75,352	79,989

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Consolidated Statements of Changes in Equity

6 Months Ended

Jun. 30, 2015

Statement of Stockholders' Equity [Abstract]

Consolidated Statements of Changes in Equity

Consolidated Statements of Changes in Equity

The following table provides Edison International's changes in equity for the six months ended June 30, 2015:

	Equity Attributable to Common Shareholders											Noncontrolling Interests
(in millions, except per-share amounts)	Common Stock		Accumulated Other Comprehensive Loss			Retained Earnings			Subtotal			Preferred and Preference Stock			Total Equity
Balance at December 31, 2014	$	2,445	$	(58	)	$	8,573		$	10,960		$	2,022		$	12,982
Net income	—		—			678			678			56			734
Other comprehensive income	—		2			—			2			—			2
Common stock dividends declared ($0.835 per share)	—		—			(272		)	(272		)	—			(272		)
Dividends to noncontrolling interests	—		—			—			—			(56		)	(56		)
Stock-based compensation	15		—			(70		)	(55		)	—			(55		)
Non-cash stock-based compensation	12		—			—			12			—			12
Balance at June 30, 2015	$	2,472	$	(56	)	$	8,909		$	11,325		$	2,022		$	13,347

The following table provides Edison International's changes in equity for the six months ended June 30, 2014:

	Equity Attributable to Common Shareholders											Noncontrolling Interests
(in millions, except per-share amounts)	Common Stock		Accumulated Other Comprehensive Loss			Retained Earnings			Subtotal			Preferred and Preference Stock			Total Equity
Balance at December 31, 2013	$	2,403	$	(13	)	$	7,548		$	9,938		$	1,753		$	11,691
Net income	—		—			712			712			56			768
Common stock dividends declared ($0.71 per share)	—		—			(231		)	(231		)	—			(231		)
Dividends to noncontrolling interests	—		—			—			—			(57		)	(57		)
Stock-based compensation	17		—			(68		)	(51		)	—			(51		)
Non-cash stock-based compensation	14		—			(1		)	13			1			14
Issuance of preference stock	—		—			—			—			269			269
Balance at June 30, 2014	$	2,434	$	(13	)	$	7,960		$	10,381		$	2,022		$	12,403

The following table provides SCE's changes in equity for the six months ended June 30, 2015:

	Equity Attributable to Edison International
(in millions)	Common Stock		Additional Paid-in Capital		Accumulated Other Comprehensive Loss			Retained Earnings			Preferred and Preference Stock		Total Equity
Balance at December 31, 2014	$	2,168	$	618	$	(28	)	$	8,454		$	2,070	$	13,282
Net income	—		—		—			745			—		745
Other comprehensive income	—		—		2			—			—		2
Dividends declared on common stock	—		—		—			(294		)	—		(294		)
Dividends declared on preferred and preference stock	—		—		—			(56		)	—		(56		)
Stock-based compensation	—		6		—			(23		)	—		(17		)
Non-cash stock-based compensation	—		6		—			—			—		6
Balance at June 30, 2015	$	2,168	$	630	$	(26	)	$	8,826		$	2,070	$	13,668

The following table provides SCE's changes in equity for the six months ended June 30, 2014:

	Equity Attributable to Edison International
(in millions)	Common Stock		Additional Paid-in Capital			Accumulated Other Comprehensive Loss			Retained Earnings			Preferred and Preference Stock		Total Equity
Balance at December 31, 2013	$	2,168	$	592		$	(11	)	$	7,594		$	1,795	$	12,138
Net income	—		—			—			626			—		626
Other comprehensive income	—		—			3			—			—		3
Dividends declared on common stock	—		—			—			(252		)	—		(252		)
Dividends declared on preferred and preference stock	—		—			—			(57		)	—		(57		)
Stock-based compensation	—		12			—			(42		)	—		(30		)
Non-cash stock-based compensation	—		5			—			(2		)	—		3
Issuance of preference stock	—		(6		)	—			—			275		269
Balance at June 30, 2014	$	2,168	$	603		$	(8	)	$	7,867		$	2,070	$	12,700

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Discontinued Operations (Details) $ in Millions	1 Months Ended		3 Months Ended	6 Months Ended
	Aug. 31, 2014 USD ($) installment	Apr. 30, 2014 USD ($)	Jun. 30, 2014 USD ($)	Jun. 30, 2015 USD ($)	Jun. 30, 2014 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
EME settlement payments				$ 0	$ 225
Less: Income from discontinued operations			$ 184	$ 0	$ 162
Edison Mission Energy
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
EME settlement payments		$ 225
Number of payment installments | installment	2
First installment payment	$ 204
Second installment payment	$ 214

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Fair Value Measurements (Quantitative Information About Level 3 Fair Value Measurements) (Details) - Southern California Edison - Level 3 $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2015 USD ($) $ / MWh $ / MMBTU MW	Dec. 31, 2014 USD ($) $ / MWh $ / MMBTU MW
Congestion revenue rights | Market simulation model
Quantitative Information About Level 3 Measurements [Line Items]
Fair Value, Assets | $	$ 261	$ 317
Fair Value, Liabilities | $	$ 0	$ 0
Congestion revenue rights | Market simulation model | Load Forecast | Minimum
Quantitative Information About Level 3 Measurements [Line Items]
Fair value inputs, power units (in megawatts) | MW	7,630	7,630
Congestion revenue rights | Market simulation model | Load Forecast | Maximum
Quantitative Information About Level 3 Measurements [Line Items]
Fair value inputs, power units (in megawatts) | MW	25,431	25,431
Congestion revenue rights | Market simulation model | Power Prices | Minimum
Quantitative Information About Level 3 Measurements [Line Items]
Fair Value Inputs, Price Level ($ per MWh)	1.65	1.65
Congestion revenue rights | Market simulation model | Power Prices | Maximum
Quantitative Information About Level 3 Measurements [Line Items]
Fair Value Inputs, Price Level ($ per MWh)	109.95	109.95
Congestion revenue rights | Market simulation model | Gas Prices | Minimum
Quantitative Information About Level 3 Measurements [Line Items]
Fair Value Inputs, Price Level ($ per MWh) | $ / MMBTU	3.65	3.65
Congestion revenue rights | Market simulation model | Gas Prices | Maximum
Quantitative Information About Level 3 Measurements [Line Items]
Fair Value Inputs, Price Level ($ per MWh) | $ / MMBTU	6.53	6.53
Tolling | Option model
Quantitative Information About Level 3 Measurements [Line Items]
Fair Value, Assets | $	$ 6	$ 4
Fair Value, Liabilities | $	$ 1,316	$ 1,207
Tolling | Option model | Power Prices | Minimum
Quantitative Information About Level 3 Measurements [Line Items]
Fair Value Inputs, Price Level ($ per MWh)	30.62	30.60
Expected volatility rate (as a percent)	26.00%	25.00%
Tolling | Option model | Power Prices | Maximum
Quantitative Information About Level 3 Measurements [Line Items]
Fair Value Inputs, Price Level ($ per MWh)	54.60	61.40
Expected volatility rate (as a percent)	96.00%	42.00%
Tolling | Option model | Power Prices | Weighted Average
Quantitative Information About Level 3 Measurements [Line Items]
Fair Value Inputs, Price Level ($ per MWh)	39.50	44.60
Expected volatility rate (as a percent)	30.00%	30.00%
Tolling | Option model | Gas Prices | Minimum
Quantitative Information About Level 3 Measurements [Line Items]
Expected volatility rate (as a percent)	15.00%	13.00%
Tolling | Option model | Gas Prices | Maximum
Quantitative Information About Level 3 Measurements [Line Items]
Expected volatility rate (as a percent)	42.00%	53.00%
Tolling | Option model | Gas Prices | Weighted Average
Quantitative Information About Level 3 Measurements [Line Items]
Expected volatility rate (as a percent)	20.00%	20.00%

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Income Taxes (Tables)

6 Months Ended

Jun. 30, 2015

Income Tax Disclosure [Abstract]

Reconciliation of income tax expense

The table below provides a reconciliation of income tax expense computed at the federal statutory income tax rate to the income tax provision:

	Three months ended June 30,						Six months ended June 30,
(in millions)	2015			2014			2015			2014
Edison International:
Income from continuing operations before income taxes	$	412		$	466		$	837		$	671
Provision for income tax at federal statutory rate of 35%	144			164			293			235
Increase (decrease) in income tax from:
State tax, net of federal benefit	5			6			16			7
Property-related	(69		)	(55		)	(129		)	(106		)
Change related to uncertain tax positions	(77		)	(21		)	(62		)	(14		)
San Onofre OII settlement	—			—			—			(40		)
Other	3			(10		)	(5		)	(17		)
Total income tax expense from continuing operations	$	6		$	84		$	113		$	65
Effective tax rate	1.5		%	18.0		%	13.5		%	9.7		%
SCE:
Income from continuing operations before income taxes	$	419		$	490		$	860		$	712
Provision for income tax at federal statutory rate of 35%	147			171			301			249
Increase (decrease) in income tax from:
State tax, net of federal benefit	2			9			16			10
Property-related	(69		)	(55		)	(129		)	(106		)
Change related to uncertain tax positions	(75		)	(17		)	(65		)	(10		)
San Onofre OII settlement	—			—			—			(40		)
Other	2			(10		)	(8		)	(17		)
Total income tax expense from continuing operations	$	7		$	98		$	115		$	86
Effective tax rate	1.7		%	20.0		%	13.4		%	12.1		%

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Derivative Instruments (Tables) - Southern California Edison

6 Months Ended

Jun. 30, 2015

Derivative Instruments and Hedging Activities Disclosures [Line Items]

Fair Value of Derivative Instruments

The following table summarizes the gross and net fair values of SCE's commodity derivative instruments:

	June 30, 2015
	Derivative Assets								Derivative Liabilities								Net Liability
(in millions)	Short-Term			Long-Term		Subtotal			Short-Term			Long-Term		Subtotal
Commodity derivative contracts
Gross amounts recognized	$	92		$	194	$	286		$	204		$	1,155	$	1,359		$	1,073
Gross amounts offset in the consolidated balance sheets	(13		)	—		(13		)	(13		)	—		(13		)	—
Cash collateral posted1	—			—		—			(29		)	—		(29		)	(29		)
Net amounts presented in the consolidated balance sheets	$	79		$	194	$	273		$	162		$	1,155	$	1,317		$	1,044

	December 31, 2014
	Derivative Assets								Derivative Liabilities								Net Liability
(in millions)	Short-Term			Long-Term		Subtotal			Short-Term			Long-Term		Subtotal
Commodity derivative contracts
Gross amounts recognized	$	104		$	219	$	323		$	259		$	1,052	$	1,311		$	988
Gross amounts offset in the consolidated balance sheets	(2		)	—		(2		)	(2		)	—		(2		)	—
Cash collateral posted1	—			—		—			(61		)	—		(61		)	(61		)
Net amounts presented in the consolidated balance sheets	$	102		$	219	$	321		$	196		$	1,052	$	1,248		$	927

¹  In addition, at June 30, 2015 and December 31, 2014, SCE had posted $34 million and $36 million, respectively, of collateral that is not offset against derivative liabilities and is reflected in "Other current assets" on the consolidated balance sheets.

Summarization of Economic Hedging Activities

The following table summarizes the components of SCE's economic hedging activity:

	Three months ended June 30,						Six months ended June 30,
(in millions)	2015			2014			2015			2014
Realized losses	$	(39	)	$	(4	)	$	(75	)	$	(41	)
Unrealized losses	(16		)	(110		)	(85		)	(58		)

Notional Volumes of Derivative Instruments

The following table summarizes the notional volumes of derivatives used for SCE hedging activities:

	Unit of	Economic Hedges
Commodity	Measure	June 30, 2015	December 31, 2014
Electricity options, swaps and forwards	GWh	5,323	3,618
Natural gas options, swaps and forwards	Bcf	88	83
Congestion revenue rights	GWh	96,541	122,859
Tolling arrangements	GWh	75,352	79,989

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Investments (Textual) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Other Investments [Line Items]
Proceeds from sale of securities			$ 7,253	$ 3,750
Southern California Edison
Other Investments [Line Items]
Proceeds from sale of securities	$ 4,400	$ 2,200	7,253	$ 3,750
Unrealized holding gains, net of losses	1,800		1,800		$ 1,800
Deferred income taxes related to unrealized gains	427		427
Nuclear decommissioning trusts	$ 4,400		$ 4,400

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Fair Value Measurements (Fair Value of Long-Term Debt Recorded at Carrying Value) (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Fair Value of Long-Term Debt Recorded at Carrying Value
Carrying Value	$ 11,469	$ 10,738
Fair Value	12,406	12,319
Southern California Edison
Fair Value of Long-Term Debt Recorded at Carrying Value
Carrying Value	10,654	9,924
Fair Value	$ 11,569	$ 11,479

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Compensation and Benefit Plans (Tables)

6 Months Ended

Jun. 30, 2015

Pension Plans

Pension and Other Postretirement Benefits

Expense Components for Plans

Pension expense components for continuing operations are:

	Three months ended June 30,						Six months ended June 30,
(in millions)	2015			2014			2015			2014
Edison International:
Service cost	$	35		$	29		$	70		$	59
Interest cost	42			48			83			93
Expected return on plan assets	(57		)	(60		)	(114		)	(117		)
Amortization of prior service cost	1			2			2			3
Amortization of net loss1	9			1			18			2
Expense under accounting standards	$	30		$	20		$	59		$	40
Regulatory adjustment	(2		)	30			(3		)	61
Total expense recognized	$	28		$	50		$	56		$	101
SCE:
Service cost	$	34		$	29		$	69		$	58
Interest cost	37			44			75			88
Expected return on plan assets	(54		)	(56		)	(107		)	(112		)
Amortization of prior service cost	2			1			3			2
Amortization of net loss1	8			1			15			1
Expense under accounting standards	$	27		$	19		$	55		$	37
Regulatory adjustment	(1		)	30			(2		)	61
Total expense recognized	$	26		$	49		$	53		$	98

¹  Includes the amount of net loss reclassified from other comprehensive income. The amount reclassified for Edison International and SCE was $4 million and $2 million, respectively, for the three months ended June 30, 2015, and $7 million and $4 million, respectively, for the six months ended June 30, 2015. The amount reclassified for Edison International and SCE was $1 million and $1 million, respectively, for the three months ended June 30, 2014 and $3 million and $2 million, respectively, for the six months ended June 30, 2014.

Postretirement Benefits Other Than Pensions

Pension and Other Postretirement Benefits

Expense Components for Plans

PBOP expense components for continuing operations are:

	Three months ended June 30,						Six months ended June 30,
(in millions)	2015			2014			2015			2014
Edison International:
Service cost	$	12		$	11		$	24		$	22
Interest cost	28			27			57			54
Expected return on plan assets	(29		)	(28		)	(57		)	(56		)
Amortization of prior service cost	(3		)	(9		)	(6		)	(18		)
Amortization of net loss	6			—			12			—
Total expense	$	14		$	1		$	30		$	2
SCE:
Service cost	$	12		$	11		$	24		$	22
Interest cost	28			27			56			54
Expected return on plan assets	(28		)	(28		)	(56		)	(56		)
Amortization of prior service cost	(3		)	(9		)	(6		)	(18		)
Amortization of net loss	5			—			11			—
Total expense	$	14		$	1		$	29		$	2

Southern California Edison

Workforce Reductions [Abstract]

Workforce reductions

The following table provides a summary of changes in the accrued severance liability associated with these reductions:

(in millions)
Balance at January 1, 2015	$	35
Additions	10
Payments	(24		)
Balance at June 30, 2015	$	21

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Investments (Tables) - Southern California Edison

6 Months Ended

Jun. 30, 2015

Investment [Line Items]

Amortized Cost and Fair Value of the Trust Investments

The following table sets forth amortized cost and fair value of the trust investments:

	Longest Maturity Dates	Amortized Cost				Fair Value
(in millions)		June 30, 2015		December 31, 2014		June 30, 2015		December 31, 2014
Stocks	—	$	560	$	524	$	2,084	$	2,031
Municipal bonds	2054	705		681		826		822
U.S. government and agency securities	2045	1,116		777		1,173		836
Corporate bonds	2057	591		346		637		395
Short-term investments and receivables/payables1	One-year	113		692		116		715
Total		$	3,085	$	3,020	$	4,836	$	4,799

¹ Short-term investments include $140 million of repurchase agreements payable by financial institutions which earn interest, are fully secured by U.S. Treasury securities and mature by July 8, 2015.

Summary of Changes in the Fair Value of Trust

The following table sets forth a summary of changes in the fair value of the trust:

	Three months ended June 30,						Six months ended June 30,
(in millions)	2015			2014			2015			2014
Balance at beginning of period	$	4,896		$	4,587		$	4,799		$	4,494
Gross realized gains	5			28			32			38
Gross realized losses	(3		)	—			(5		)	—
Unrealized (losses) gains, net	(71		)	107			(27		)	169
Other-than-temporary impairments	(8		)	(3		)	(12		)	(6		)
Interest and dividends	32			33			60			62
Contributions	—			—			7			5
Income taxes	(14		)	(11		)	(14		)	(19		)
Administrative expenses and other	(1		)	(1		)	(4		)	(3		)
Balance at end of period	$	4,836		$	4,740		$	4,836		$	4,740

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Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 2015

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Summary of Significant Accounting Policies

Organization and Basis of Presentation

Edison International is the parent holding company of Southern California Edison Company ("SCE"). SCE is an investor-owned public utility primarily engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. Edison International is also the parent company of Edison Energy Group, a company that holds interests in subsidiaries that are engaged in competitive businesses related to the generation, delivery, or use of electricity. Such competitive business activities are currently not material to report as a separate business segment. These combined notes to the consolidated financial statements apply to both Edison International and SCE unless otherwise described. Edison International's consolidated financial statements include the accounts of Edison International, SCE and other wholly owned and controlled subsidiaries. References to Edison International refer to the consolidated group of Edison International and its subsidiaries. References to Edison International Parent and Other refer to Edison International Parent and its nonutility subsidiaries. SCE's consolidated financial statements include the accounts of SCE and its wholly owned and controlled subsidiaries. All intercompany transactions have been eliminated from the consolidated financial statements.

Edison International's and SCE's significant accounting policies were described in Note 1 of "Notes to Consolidated Financial Statements" included in the 2014 Form 10-K. This quarterly report should be read in conjunction with the financial statements and notes included in the 2014 Form 10-K.

In the opinion of management, all adjustments, consisting of recurring accruals, have been made that are necessary to fairly state the consolidated financial position, results of operations and cash flows in accordance with accounting principles generally accepted in the United States of America for the periods covered by this quarterly report on Form 10-Q. The results of operations for the three- and six-month periods ended June 30, 2015 are not necessarily indicative of the operating results for the full year.

The December 31, 2014 condensed consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America.

Cash Equivalents

Cash equivalents included investments in money market funds. Generally, the carrying value of cash equivalents equals the fair value, as these investments have original maturities of three months or less. The cash equivalents were as follows:

	Edison International				SCE
(in millions)	June 30, 2015		December 31, 2014		June 30, 2015		December 31, 2014
Money market funds	$	56	$	35	$	26	$	5

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 as follows:

	Edison International				SCE
(in millions)	June 30, 2015		December 31, 2014		June 30, 2015		December 31, 2014
Book balances reclassified to accounts payable	$	123	$	180	$	123	$	177

Inventory

Inventory is primarily composed of materials, supplies and spare parts, and stated at the lower of cost or market, cost being determined by the average cost method.

San Onofre Impairment and Other Charges

As discussed in Note 1 of "Notes to Consolidated Financial Statements" included in the 2014 Form 10-K, in March 2014, SCE entered into a settlement agreement with The Utility Reform Network ("TURN"), the CPUC's Office of Ratepayer Advocates ("ORA"), SDG&E, the Coalition of California Utility Employees, and Friends of the Earth (together, the "Settling Parties") related to the regulatory proceedings for San Onofre. SCE recorded a pre-tax charge of approximately $231 million (approximately $96 million after-tax) in the first quarter of 2014.

In September 2014, SCE and the Settling Parties entered into an Amended and Restated Settlement Agreement (the "San Onofre OII Settlement Agreement") which was approved by the CPUC on November 20, 2014. As a result of these developments, SCE revised the pre-tax charge to $163 million (approximately $72 million after-tax) in the fourth quarter of 2014. Including amounts previously recorded in 2013, the total impact of the San Onofre OII Settlement Agreement was a pre-tax charge of $738 million (approximately $437 million after-tax).

Earnings Per Share

Edison International computes earnings per common share ("EPS") using the two-class method, which is an earnings allocation formula that determines EPS for each class of common stock and participating security. Edison International's participating securities are stock-based compensation awards payable in common shares, including performance shares and restricted stock units, which earn dividend equivalents on an equal basis with common shares once the awards are vested. EPS attributable to Edison International common shareholders was computed as follows:

	Three months ended June 30,				Six months ended June 30,
(in millions, except per-share amounts)	2015		2014		2015		2014
Basic earnings per share – continuing operations:
Income from continuing operations attributable to common shareholders	$	379	$	352	$	678	$	550
Participating securities dividends	—		—		—		—
Income from continuing operations available to common shareholders	$	379	$	352	$	678	$	550
Weighted average common shares outstanding	326		326		326		326
Basic earnings per share – continuing operations	$	1.16	$	1.08	$	2.08	$	1.69
Diluted earnings per share – continuing operations:
Income from continuing operations available to common shareholders	$	379	$	352	$	678	$	550
Income impact of assumed conversions	—		1		—		1
Income from continuing operations available to common shareholders and assumed conversions	$	379	$	353	$	678	$	551
Weighted average common shares outstanding	326		326		326		326
Incremental shares from assumed conversions	2		3		3		3
Adjusted weighted average shares – diluted	328		329		329		329
Diluted earnings per share – continuing operations	$	1.15	$	1.07	$	2.06	$	1.68

In addition to the participating securities discussed above, Edison International also may award stock options which are payable in common shares and are included in the diluted earnings per share calculation. Stock option awards to purchase 1,981,596 and 45,951 shares of common stock for the three months ended June 30, 2015 and 2014, respectively, and 1,981,596 and 96,341 shares for the six months ended June 30, 2015 and 2014, respectively, were outstanding, but were not included in the computation of diluted earnings per share because the exercise price of the awards was greater than the average market price of the common shares during the respective periods and, therefore, the effect would have been antidilutive.

New Accounting Guidance

Accounting Guidance Not Yet Adopted

On May 28, 2014, the FASB issued an accounting standards update on revenue recognition including enhanced disclosures. Under the new standard, revenue is recognized when (or as) a good or service is transferred to the customer and the customer obtains control of the good or service. On July 9, 2015, the FASB approved a one-year deferral, updating the effective date to January 1, 2018.Edison International and SCE are currently evaluating this new guidance and cannot determine the impact of this standard at this time.

On April 7, 2015, the FASB issued an accounting standards update that will require debt issuance costs to be presented in the balance sheet as a direct deduction from the carrying amount of the related debt liability, consistent with debt discounts. Currently, these costs are presented as a deferred charge asset. Edison International and SCE will adopt this guidance in the first quarter of 2016. The adoption of this accounting standards update is not expected to have a material impact on Edison International's and SCE's consolidated financial statements.

On April 15, 2015, the FASB issued an accounting standard update on fees paid by a customer for software licenses. This new standard provides guidance about whether a cloud computing arrangement includes a software license which may be capitalized in certain circumstances. If a cloud computing arrangement does not include a software license, then the arrangement should be accounted for as a service contract. Edison International and SCE are currently evaluating this guidance, which is effective January 1, 2016, and expects this new standard will not have a material impact on the consolidated financial statements.

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Regulatory Assets and Liabilities (Tables) - Southern California Edison

6 Months Ended

Jun. 30, 2015

Regulatory Assets [Line Items]

Regulatory Assets Included on the Consolidated Balance Sheets

SCE's regulatory assets included on the consolidated balance sheets are:

(in millions)	June 30, 2015		December 31, 2014
Current:
Regulatory balancing accounts	$	911	$	1,088
Energy derivatives	116		159
Other	39		7
Total current	1,066		1,254
Long-term:
Deferred income taxes, net	3,777		3,405
Pensions and other postretirement benefits	1,210		1,218
Energy derivatives	975		850
Unamortized investments, net	217		255
San Onofre	1,203		1,288
Unamortized loss on reacquired debt	210		201
Regulatory balancing accounts	54		44
Other	363		351
Total long-term	8,009		7,612
Total regulatory assets	$	9,075	$	8,866

Regulatory Liabilities Included on the Consolidated Balance Sheets

SCE's regulatory liabilities included on the consolidated balance sheets are:

(in millions)	June 30, 2015		December 31, 2014
Current:
Regulatory balancing accounts	$	354	$	380
Other1	100		21
Total current	454		401
Long-term:
Costs of removal	2,767		2,826
Recoveries in excess of ARO liabilities2	1,908		1,956
Regulatory balancing accounts	1,080		1,083
Other	58		24
Total long-term	5,813		5,889
Total regulatory liabilities	$	6,267	$	6,290

¹  During the six months ended June 30, 2015, SCE recognized revenue from CPUC activities largely based on 2014 authorized base revenue requirements included in customer rates. SCE deferred $49 million and $85 million of the 2014 authorized base revenue requirement allocated to the second quarter and first six months of 2015, respectively, related to incremental repair deductions pending the outcome of the 2015 GRC.

² Represents the cumulative differences between ARO expenses and amounts collected in rates primarily for the decommissioning of the SCE's nuclear generation facilities. Decommissioning costs recovered through rates are primarily placed in nuclear decommissioning trusts. This regulatory liability also represents the deferral of realized and unrealized gains and losses on the nuclear decommissioning trust investments. See Note 9.

Schedule of Regulatory Balancing Accounts

The following table summarizes the significant components of regulatory balancing accounts included in the above tables of regulatory assets and liabilities:

(in millions)	June 30, 2015			December 31, 2014
Asset (liability)
Energy resource recovery account	$	543		$	1,028
New system generation balancing account	(139		)	35
Public purpose programs and energy efficiency programs	(752		)	(874		)
Base rate recovery balancing account	74			(5		)
Greenhouse gas auction revenue	(145		)	(182		)
FERC balancing accounts	44			(32		)
Generator settlements	(3		)	(197		)
Other	(91		)	(104		)
Liability	$	(469	)	$	(331	)

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Variable Interest Entities (Details) - Southern California Edison - Variable Interest Entity, Not Primary Beneficiary	3 Months Ended		6 Months Ended
	Jun. 30, 2015 USD ($) $ / shares MW	Jun. 30, 2014 USD ($) MW	Jun. 30, 2015 USD ($) $ / shares MW	Jun. 30, 2014 USD ($) MW	Dec. 31, 2014 USD ($)
SCE Power Purchase Contracts
Details of projects or entities
Power generating capacity (in megawatts) | MW	4,125	5,341	4,125	5,341
Payments to unconsolidated VIEs for power purchase contracts	$ 78,000,000	$ 93,000,000	$ 181,000,000	$ 207,000,000
SCE Trust I
Unconsolidated Trust
Dividend income	6,000,000	6,000,000	13,000,000	13,000,000
Dividend distributions	6,000,000	6,000,000	$ 13,000,000	13,000,000
SCE Trust I | Trust Securities
Unconsolidated Trust
Security dividend rate, (as a percent)			5.625%
Liquidation preference	$ 475,000,000		$ 475,000,000		$ 475,000,000
Liquidation value (in dollars per share) | $ / shares	$ 25		$ 25
Common stock	$ 10,000		$ 10,000		10,000
SCE Trust I | Series F Preferred Stock
Unconsolidated Trust
Liquidation preference	$ 475,000,000		$ 475,000,000		475,000,000
Liquidation value (in dollars per share) | $ / shares	$ 2,500		$ 2,500
SCE Trust II
Unconsolidated Trust
Dividend income	$ 5,000,000	5,000,000	$ 10,000,000	10,000,000
Dividend distributions	5,000,000	5,000,000	$ 10,000,000	10,000,000
SCE Trust II | Trust Securities
Unconsolidated Trust
Security dividend rate, (as a percent)			5.10%
Liquidation preference	$ 400,000,000		$ 400,000,000		400,000,000
Liquidation value (in dollars per share) | $ / shares	$ 25		$ 25
Common stock	$ 10,000		$ 10,000		10,000
SCE Trust II | Series G Preferred Stock
Unconsolidated Trust
Liquidation preference	$ 400,000,000		$ 400,000,000		$ 400,000,000
Liquidation value (in dollars per share) | $ / shares	$ 2,500		$ 2,500
SCE Trust III
Unconsolidated Trust
Dividend income	$ 4,000,000	4,000,000	$ 8,000,000	5,000,000
Dividend distributions	4,000,000	$ 4,000,000	$ 8,000,000	$ 5,000,000
SCE Trust III | Trust Securities
Unconsolidated Trust
Security dividend rate, (as a percent)			5.75%
Liquidation preference	$ 275,000,000		$ 275,000,000
Liquidation value (in dollars per share) | $ / shares	$ 25		$ 25
Common stock	$ 10,000		$ 10,000
SCE Trust III | Series H Preferred Stock
Unconsolidated Trust
Liquidation preference	$ 275,000,000		$ 275,000,000
Liquidation value (in dollars per share) | $ / shares	$ 2,500		$ 2,500

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Compensation and Benefit Plans (Textual) (Details) $ in Millions	6 Months Ended
	Jun. 30, 2015 USD ($)
Pension Plans
Pension and Other Postretirement Benefits
Employer contributions	$ 45
Estimated future contributions in remainder of year	76
Postretirement Benefits Other Than Pensions
Pension and Other Postretirement Benefits
Employer contributions	30
Estimated future contributions in remainder of year	29
Southern California Edison | Pension Plans
Pension and Other Postretirement Benefits
Employer contributions	38
Estimated future contributions in remainder of year	$ 54

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Consolidated Statements of Income - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Total operating revenue	$ 2,908	$ 3,016	$ 5,420	$ 5,943
Purchased power and fuel	1,078	1,239	1,864	2,382
Operation and maintenance	743	715	1,380	1,442
Depreciation, decommissioning and amortization	481	414	945	824
Property and other taxes	82	73	171	158
Impairment and other charges	0	0	0	231
Total operating expenses	2,384	2,441	4,360	5,037
Operating income	524	575	1,060	906
Interest and other income	43	46	82	69
Interest expense	(138)	(139)	(281)	(281)
Other expenses	(17)	(16)	(24)	(23)
Income from continuing operations before income taxes	412	466	837	671
Income tax expense	6	84	113	65
Income from continuing operations	406	382	724	606
Gain from discontinued operations, net of tax	0	184	0	162
Net income	406	566	724	768
Preferred and preference stock dividend requirements of utility	28	30	56	56
Other noncontrolling interests	(1)	0	(10)	0
Net income attributable to Edison International common shareholders	379	536	678	712
Amounts attributable to Edison International common shareholders:
Income from continuing operations, net of tax	379	352	678	550
Gain from discontinued operations, net of tax	0	184	0	162
Net income attributable to Edison International common shareholders	$ 379	$ 536	$ 678	$ 712
Basic earnings per common share attributable to Edison International common shareholders:
Weighted-average shares of common stock outstanding (in shares)	326	326	326	326
Continuing operations (in dollars per share)	$ 1.16	$ 1.08	$ 2.08	$ 1.69
Discontinued operations (in dollars per share)	0.00	0.56	0.00	0.49
Total (in dollars per share)	$ 1.16	$ 1.64	$ 2.08	$ 2.18
Diluted earnings per common share attributable to Edison International common shareholders:
Weighted-average shares of common stock outstanding, including effect of dilutive securities (in shares)	328	329	329	329
Continuing operations (in dollars per share)	$ 1.15	$ 1.07	$ 2.06	$ 1.68
Discontinued operations (in dollars per share)	0.00	0.56	0.00	0.49
Total (in dollars per share)	1.15	1.63	2.06	2.17
Dividends declared per common share (in dollars per share)	$ 0.4175	$ 0.3550	$ 0.8350	$ 0.7100
Southern California Edison
Total operating revenue	$ 2,901	$ 3,014	$ 5,409	$ 5,938
Purchased power and fuel	1,078	1,239	1,864	2,382
Operation and maintenance	724	697	1,346	1,410
Depreciation, decommissioning and amortization	481	414	943	824
Property and other taxes	82	71	170	156
Impairment and other charges	0	0	0	231
Total operating expenses	2,365	2,421	4,323	5,003
Operating income	536	593	1,086	935
Interest and other income	31	46	64	69
Interest expense	(131)	(134)	(266)	(269)
Other expenses	(17)	(15)	(24)	(23)
Income from continuing operations before income taxes	419	490	860	712
Income tax expense	7	98	115	86
Income from continuing operations			745	626
Net income	412	392	745	626
Preferred and preference stock dividend requirements of utility	28	30	56	56
Net income attributable to Edison International common shareholders	384	362	689	570
Amounts attributable to Edison International common shareholders:
Net income attributable to Edison International common shareholders	$ 384	$ 362	$ 689	$ 570

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Debt and Credit Agreements (Details)	6 Months Ended	12 Months Ended
	Jun. 30, 2015 USD ($)	Dec. 31, 2014 USD ($) MW	Jul. 31, 2015 USD ($)	Mar. 31, 2015 USD ($)
Debt Instrument [Line Items]
Short-term debt	$ 1,415,000,000	$ 1,291,000,000
Non-recourse Solar Rooftop Project Investment Financing [Member]
Debt Instrument [Line Items]
Weighted average interest rate (as a percent)	2.69%
Power generating capacity (in megawatts) | MW		35
Term of debt instrument		7 years
Debt, current	$ 18,600,000
Issuance of debt		$ 31,600,000
Southern California Edison
Debt Instrument [Line Items]
Short-term debt	851,000,000	$ 667,000,000
Southern California Edison | First and refunding mortgage bonds
Debt Instrument [Line Items]
Issuance of debt				$ 550,000,000
Stated interest rate				1.845%
Southern California Edison | First and Refunding Mortgage Bonds Due in 2022
Debt Instrument [Line Items]
Issuance of debt				$ 325,000,000
Stated interest rate				2.40%
Southern California Edison | First and Refunding Mortgage Bonds Due in 2045
Debt Instrument [Line Items]
Issuance of debt				$ 425,000,000
Stated interest rate				3.60%
Southern California Edison | 1.875% Pollution-Control Bonds Due in 2029
Debt Instrument [Line Items]
Issuance of debt	$ 56,000,000
Stated interest rate	1.875%
Southern California Edison | 1.875% Pollution-Control Bonds Due in 2031
Debt Instrument [Line Items]
Issuance of debt	$ 75,000,000
Stated interest rate	1.875%
Edison International Parent and Other | Revolving credit facility
Debt Instrument [Line Items]
Commitment	$ 1,250,000,000
Weighted average interest rate (as a percent)	0.48%	0.45%
Short-term debt	$ 545,000,000	$ 619,000,000
Edison International Parent and Other | Credit Facility July 2020
Debt Instrument [Line Items]
Commitment	68,000,000
Commercial paper | Southern California Edison | Revolving credit facility
Debt Instrument [Line Items]
Commitment	2,750,000,000
Outstanding borrowings	$ 852,000,000	$ 367,000,000
Weighted average interest rate (as a percent)	0.34%	0.40%
Commercial paper | Southern California Edison | Credit Facility July 2020
Debt Instrument [Line Items]
Commitment	$ 150,000,000
Letters of credit | Southern California Edison | Revolving credit facility
Debt Instrument [Line Items]
Outstanding letters of credit	$ 117,000,000
Letters of credit expiration period	12 months
Subsequent Event | Edison International Parent and Other | Credit Facility July 2020
Debt Instrument [Line Items]
Commitment			$ 1,180,000,000
Subsequent Event | Commercial paper | Southern California Edison | Credit Facility July 2020
Debt Instrument [Line Items]
Commitment			$ 2,600,000,000

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Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities:
Net income	$ 724	$ 768
Less: Income from discontinued operations	0	162
Income from continuing operations	724	606
Adjustments to reconcile to net cash provided by operating activities:
Depreciation, decommissioning and amortization	987	864
Allowance for equity during construction	(42)	(28)
Impairment and other charges	0	231
Deferred income taxes and investment tax credits	101	110
Other	11	11
EME settlement payments	0	(225)
Changes in operating assets and liabilities:
Receivables	32	(185)
Inventory	5	(21)
Accounts payable	130	116
Prepaid and accrued taxes	(50)	79
Other current assets and liabilities	(411)	(471)
Derivative assets and liabilities, net	33	64
Regulatory assets and liabilities, net	241	(317)
Nuclear decommissioning trusts	41	83
Other noncurrent assets and liabilities	(34)	(309)
Net cash provided by operating activities	1,768	608
Cash flows from financing activities:
Long-term debt issued, net of discount and issuance costs	1,415	396
Long-term debt matured or repurchased	(721)	(4)
Preference stock issued, net	0	269
Short-term debt financing, net	125	1,043
Cash contribution from redeemable noncontrolling interest	7	0
Dividends to noncontrolling interests	(56)	(54)
Dividends paid	(272)	(231)
Other	(25)	(51)
Net cash provided by financing activities	473	1,368
Cash flows from investing activities:
Capital expenditures	(2,197)	(1,856)
Proceeds from sale of nuclear decommissioning trust investments	7,253	3,750
Purchases of nuclear decommissioning trust investments	(7,301)	(3,838)
Other	11	12
Net cash used in investing activities	(2,234)	(1,932)
Net increase in cash and cash equivalents	7	44
Cash and cash equivalents at beginning of period	132	146
Cash and cash equivalents at end of period	139	190
Southern California Edison
Cash flows from operating activities:
Net income	745	626
Income from continuing operations	745	626
Adjustments to reconcile to net cash provided by operating activities:
Depreciation, decommissioning and amortization	982	864
Allowance for equity during construction	(42)	(28)
Impairment and other charges	0	231
Deferred income taxes and investment tax credits	48	144
Other	7	5
Changes in operating assets and liabilities:
Receivables	4	(191)
Inventory	14	(3)
Accounts payable	146	128
Prepaid and accrued taxes	(87)	(48)
Other current assets and liabilities	(388)	(462)
Derivative assets and liabilities, net	33	64
Regulatory assets and liabilities, net	241	(317)
Nuclear decommissioning trusts	41	83
Other noncurrent assets and liabilities	(55)	(13)
Net cash provided by operating activities	1,689	1,083
Cash flows from financing activities:
Long-term debt issued, net of discount and issuance costs	1,415	398
Long-term debt matured or repurchased	(721)	(3)
Preference stock issued, net	0	269
Short-term debt financing, net	184	410
Dividends paid	(350)	(180)
Other	11	(30)
Net cash provided by financing activities	539	864
Cash flows from investing activities:
Capital expenditures	(2,187)	(1,853)
Proceeds from sale of nuclear decommissioning trust investments	7,253	3,750
Purchases of nuclear decommissioning trust investments	(7,301)	(3,838)
Other	22	11
Net cash used in investing activities	(2,213)	(1,930)
Net increase in cash and cash equivalents	15	17
Cash and cash equivalents at beginning of period	38	54
Cash and cash equivalents at end of period	$ 53	$ 71

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Commitments and Contingencies (Details)			1 Months Ended	6 Months Ended		12 Months Ended
	May. 06, 2015 USD ($)	Apr. 17, 2015 USD ($)	Oct. 31, 2013 USD ($)	Jun. 30, 2015 USD ($) invoices site	Jun. 30, 2014 USD ($)	Dec. 31, 2012 USD ($)	Jun. 01, 2015 USD ($)	Aug. 31, 2014 USD ($)
Nuclear Insurance
Schedule Of Commitments And Contingencies [Line Items]
Federal limit on public liability claims from nuclear incident, approximate				$ 13,400,000,000
Nuclear Insurance | San Onofre
Schedule Of Commitments And Contingencies [Line Items]
San Bernardino settlement amount								$ 433,000,000
Southern California Edison
Schedule Of Commitments And Contingencies [Line Items]
Damages sought	$ 38,200,000	$ 648,000,000		$ 182,000,000
Identified material sites for environmental remediation (in number of sites) | site				19
Minimum costs to be Identified Site				$ 1,000,000
Minimum liability for environmental remediation for material sites				$ 115,000,000
Immaterial sites for environmental remediation (in number of sites) | site				39
Total minimum recorded liability for immaterial sites				$ 4,000,000
Environmental remediation liability				119,000,000
Regulatory assets related to environmental remediation				116,000,000
Portion of recorded liability recoverable from incentive mechanism				$ 30,000,000
Percentage of environmental remediation costs recoverable through an incentive mechanism (as a percent)				90.00%
Liability incurred at majority of the remaining sites through customer rates				$ 85,000,000
Environmental remediation costs to be recovered (as a percent)				100.00%
Amount that cleanup costs could exceed recorded liability for identified material sites				$ 159,000,000
Amount that cleanup costs could exceed recorded liability for immaterial sites				$ 8,000,000
Maximum expected period for cleanup of identified sites (in years)				30 years
Remediation cost estimates (period)				4 years
Expected annual environmental remediation costs, low end of range				$ 6,000,000
Expected annual environmental remediation costs, high end of range				24,000,000
Environmental remediation costs				3,000,000	$ 1,000,000
Insurance coverage for wildfire liabilities Limit				390,000,000			$ 610,000,000
Self insurance retention per wildfire occurrence							$ 10,000,000
Threshold for wildfire claims (new lines for additional coverage)				610,000,000
Southern California Edison | San Onofre
Schedule Of Commitments And Contingencies [Line Items]
Minimum liability for environmental remediation for material sites				$ 83,000,000
Southern California Edison | San Onofre | Mitsubishi Heavy Industries Ltd
Schedule Of Commitments And Contingencies [Line Items]
Damages sought			$ 4,000,000,000
Number of invoices for reimbursement | invoices				7
Invoiced amount for reimbursement				$ 149,000,000
Invoiced amount paid for reimbursement				$ 45,000,000
Share of invoice paid						$ 35,000,000
Southern California Edison | San Onofre | Mitsubishi Heavy Industries Ltd
Schedule Of Commitments And Contingencies [Line Items]
Ratepayer allocation of recovery from recoveries				50.00%
Entity allocation of recovery from recoveries				50.00%
Ratepayer allocation of recovery from recoveries, initial amount of settlement				$ 282,000,000
Southern California Edison | San Onofre | Replacement Steam Generators
Schedule Of Commitments And Contingencies [Line Items]
Warranty period				20 years
Southern California Edison | Other Insurance Claims | San Onofre
Schedule Of Commitments And Contingencies [Line Items]
Ratepayer allocation of recovery from recoveries				82.50%
Entity allocation of recovery from recoveries				17.50%
Southern California Edison | Nuclear Insurance
Schedule Of Commitments And Contingencies [Line Items]
Limit on assessment of retrospective premium adjustments, per year, approximate				$ 52,000,000
Maximum assessment per each nuclear incident				255,000,000
Maximum yearly assessment per nuclear incident				$ 38,000,000
Southern California Edison | Nuclear Insurance | San Onofre
Schedule Of Commitments And Contingencies [Line Items]
Reduction in policy benefits following retirement of assets				90.00%
San Bernardino settlement amount								$ 339,000,000
Ratepayer allocation of recovery from recoveries				95.00%
Entity allocation of recovery from recoveries				5.00%
Mitsubishi Heavy Industries Ltd | San Onofre
Schedule Of Commitments And Contingencies [Line Items]
Maximum liability per purchase agreement for damages				$ 138,000,000
Asserted counterclaim			$ 41,000,000
SCE and other owners of San Onofre and Palo Verde | Nuclear Insurance | San Onofre and Palo Verde
Schedule Of Commitments And Contingencies [Line Items]
Loss limit, property damage insurance, federal minimum requirement				1,060,000,000
Power Purchase Contracts | Southern California Edison
Schedule Of Commitments And Contingencies [Line Items]
2015 additional commitments				41,000,000
2016 additional commitments				208,000,000
2017 additional commitments				297,000,000
2018 additional commitments				347,000,000
2019 additional commitments				384,000,000
Additional commitments due after 2019				$ 4,700,000,000

XML

Supplemental Cash Flows Information (Tables)

6 Months Ended

Jun. 30, 2015

Supplemental Cash Flow Elements [Abstract]

Supplemental Cash Flows Information

Supplemental cash flows information for continuing operations is:

	Edison International					SCE
	Six months ended June 30,
(in millions)	2015			2014		2015			2014
Cash payments for interest and taxes:
Interest, net of amounts capitalized	$	230		$	226	$	222		$	225
Tax payments, net	3			189		125			14
Non-cash financing and investing activities:
Dividends declared but not paid:
Common stock	$	136		$	116	$	147		$	126
Preferred and preference stock	18			18		18			18
Details of debt exchange:
Pollution-control bonds redeemed (2.875%)	$	(203	)	$	—	$	(203	)	$	—
Pollution-control bonds issued (1.875%)	203			—		203			—

XML

Supplemental Cash Flows Information

6 Months Ended

Jun. 30, 2015

Supplemental Cash Flow Elements [Abstract]

Supplemental Cash Flows Information

Supplemental Cash Flows Information

Supplemental cash flows information for continuing operations is:

	Edison International					SCE
	Six months ended June 30,
(in millions)	2015			2014		2015			2014
Cash payments for interest and taxes:
Interest, net of amounts capitalized	$	230		$	226	$	222		$	225
Tax payments, net	3			189		125			14
Non-cash financing and investing activities:
Dividends declared but not paid:
Common stock	$	136		$	116	$	147		$	126
Preferred and preference stock	18			18		18			18
Details of debt exchange:
Pollution-control bonds redeemed (2.875%)	$	(203	)	$	—	$	(203	)	$	—
Pollution-control bonds issued (1.875%)	203			—		203			—

SCE's accrued capital expenditures at June 30, 2015 and 2014 were $393 million and $451 million, respectively. Accrued capital expenditures will be included as an investing activity in the consolidated statements of cash flow in the period paid.

During 2015, an SCE power contract classified as a capital lease was amended, which resulted in a reduction in the lease obligation and asset by $147 million.

XML

Summary of Significant Accounting Policies (Details) mi² in Thousands, $ in Millions	3 Months Ended				6 Months Ended		30 Months Ended
	Jun. 30, 2015 USD ($)	Dec. 31, 2014 USD ($)	Jun. 30, 2014 USD ($)	Mar. 31, 2014 USD ($)	Jun. 30, 2015 USD ($) mi²	Jun. 30, 2014 USD ($)	Jun. 30, 2015 USD ($)
Summary of Significant Accounting Policies [Line Items]
Impairment and other charges	$ 0		$ 0		$ 0	$ 231
Southern California Edison
Summary of Significant Accounting Policies [Line Items]
Impairment and other charges	$ 0		$ 0		$ 0	$ 231
Southern California Edison | Electric Utility
Summary of Significant Accounting Policies [Line Items]
Supply of electricity, area covered (square mile) | mi²					50
San Onofre | Southern California Edison
Summary of Significant Accounting Policies [Line Items]
Impairment and other charges		$ 163		$ 231			$ 738
Asset impairment net of tax		$ 72		$ 96			$ 437

XML

Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2015

Accounting Policies [Abstract]

Cash Equivalents

The cash equivalents were as follows:

	Edison International				SCE
(in millions)	June 30, 2015		December 31, 2014		June 30, 2015		December 31, 2014
Money market funds	$	56	$	35	$	26	$	5

Checks issued, but not yet paid by the financial institution, are reclassified from cash to accounts payable at the end of each reporting period as follows:

	Edison International				SCE
(in millions)	June 30, 2015		December 31, 2014		June 30, 2015		December 31, 2014
Book balances reclassified to accounts payable	$	123	$	180	$	123	$	177

EPS Attributable to Edison International Common Shareholders

EPS attributable to Edison International common shareholders was computed as follows:

	Three months ended June 30,				Six months ended June 30,
(in millions, except per-share amounts)	2015		2014		2015		2014
Basic earnings per share – continuing operations:
Income from continuing operations attributable to common shareholders	$	379	$	352	$	678	$	550
Participating securities dividends	—		—		—		—
Income from continuing operations available to common shareholders	$	379	$	352	$	678	$	550
Weighted average common shares outstanding	326		326		326		326
Basic earnings per share – continuing operations	$	1.16	$	1.08	$	2.08	$	1.69
Diluted earnings per share – continuing operations:
Income from continuing operations available to common shareholders	$	379	$	352	$	678	$	550
Income impact of assumed conversions	—		1		—		1
Income from continuing operations available to common shareholders and assumed conversions	$	379	$	353	$	678	$	551
Weighted average common shares outstanding	326		326		326		326
Incremental shares from assumed conversions	2		3		3		3
Adjusted weighted average shares – diluted	328		329		329		329
Diluted earnings per share – continuing operations	$	1.15	$	1.07	$	2.06	$	1.68

XML

Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Premiums Discounts and Issuance Costs of Long Term Debt	$ 16	$ 4
Southern California Edison
Premiums Discounts and Issuance Costs of Long Term Debt	$ 16	$ 2

XML

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Net income	$ 406	$ 566	$ 724	$ 768
Pension and postretirement benefits other than pensions:
Net loss arising during the period plus amortization included in net income	3	(4)	2	(2)
Other	0	2	0	2
Other comprehensive income (loss), net of tax	3	(2)	2	0
Comprehensive income	409	564	726	768
Less: Comprehensive income attributable to noncontrolling interests	27	30	46	56
Comprehensive income attributable to Edison International	382	534	680	712
Southern California Edison
Net income	412	392	745	626
Pension and postretirement benefits other than pensions:
Net loss arising during the period plus amortization included in net income	1	0	2	1
Other	0	2	0	2
Other comprehensive income (loss), net of tax	1	2	2	3
Comprehensive income	$ 413	$ 394	$ 747	$ 629

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Regulatory Assets and Liabilities

6 Months Ended

Jun. 30, 2015

Regulatory Assets and Liabilities Disclosure [Abstract]

Regulatory Assets and Liabilities

Regulatory Assets and Liabilities

Regulatory Assets

SCE's regulatory assets included on the consolidated balance sheets are:

(in millions)	June 30, 2015		December 31, 2014
Current:
Regulatory balancing accounts	$	911	$	1,088
Energy derivatives	116		159
Other	39		7
Total current	1,066		1,254
Long-term:
Deferred income taxes, net	3,777		3,405
Pensions and other postretirement benefits	1,210		1,218
Energy derivatives	975		850
Unamortized investments, net	217		255
San Onofre	1,203		1,288
Unamortized loss on reacquired debt	210		201
Regulatory balancing accounts	54		44
Other	363		351
Total long-term	8,009		7,612
Total regulatory assets	$	9,075	$	8,866

Regulatory Liabilities

SCE's regulatory liabilities included on the consolidated balance sheets are:

(in millions)	June 30, 2015		December 31, 2014
Current:
Regulatory balancing accounts	$	354	$	380
Other1	100		21
Total current	454		401
Long-term:
Costs of removal	2,767		2,826
Recoveries in excess of ARO liabilities2	1,908		1,956
Regulatory balancing accounts	1,080		1,083
Other	58		24
Total long-term	5,813		5,889
Total regulatory liabilities	$	6,267	$	6,290

¹  During the six months ended June 30, 2015, SCE recognized revenue from CPUC activities largely based on 2014 authorized base revenue requirements included in customer rates. SCE deferred $49 million and $85 million of the 2014 authorized base revenue requirement allocated to the second quarter and first six months of 2015, respectively, related to incremental repair deductions pending the outcome of the 2015 GRC.

² Represents the cumulative differences between ARO expenses and amounts collected in rates primarily for the decommissioning of the SCE's nuclear generation facilities. Decommissioning costs recovered through rates are primarily placed in nuclear decommissioning trusts. This regulatory liability also represents the deferral of realized and unrealized gains and losses on the nuclear decommissioning trust investments. See Note 9.

Net Regulatory Balancing Accounts

The following table summarizes the significant components of regulatory balancing accounts included in the above tables of regulatory assets and liabilities:

(in millions)	June 30, 2015			December 31, 2014
Asset (liability)
Energy resource recovery account	$	543		$	1,028
New system generation balancing account	(139		)	35
Public purpose programs and energy efficiency programs	(752		)	(874		)
Base rate recovery balancing account	74			(5		)
Greenhouse gas auction revenue	(145		)	(182		)
FERC balancing accounts	44			(32		)
Generator settlements	(3		)	(197		)
Other	(91		)	(104		)
Liability	$	(469	)	$	(331	)

XML

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Jul. 28, 2015
Document And Entity Information [Abstract]
Entity Registrant Name	EDISON INTERNATIONAL
Entity Central Index Key	0000827052
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		325,811,206
Southern California Edison
Document And Entity Information [Abstract]
Entity Registrant Name	SOUTHERN CALIFORNIA EDISON CO
Entity Central Index Key	0000092103
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		434,888,104

XML

Commitments and Contingencies

6 Months Ended

Jun. 30, 2015

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Commitments and Contingencies

Third-Party Power Purchase Agreements

During the six months ended June 30, 2015, SCE had new power procurement contracts with additional commitments estimated to be: $41 million for remainder of 2015, $208 million for 2016, $297 million for 2017, $347 million for 2018, $384 million for 2019 and $4.7 billion for the period remaining thereafter.

Indemnities

Edison International and SCE have various financial and performance guarantees and indemnity agreements which are issued in the normal course of business.

Edison International and SCE have provided indemnifications through contracts entered into in the normal course of business. These are primarily indemnifications against adverse litigation outcomes in connection with underwriting agreements, and indemnities for specified environmental liabilities and income taxes with respect to assets sold. Edison International's and SCE's obligations under these agreements may or may not be limited in terms of time and/or amount, and in some instances Edison International and SCE may have recourse against third parties. Edison International and SCE have not recorded a liability related to these indemnities. The overall maximum amount of the obligations under these indemnifications cannot be reasonably estimated.

SCE has indemnified the City of Redlands, California in connection with Mountainview's California Energy Commission permit for cleanup or associated actions related to groundwater contaminated by perchlorate due to the disposal of filter cake at the City's solid waste landfill. The obligations under this agreement are not limited to a specific time period or subject to a maximum liability. SCE has not recorded a liability related to this indemnity.

Contingencies

In addition to the matters disclosed in these Notes, Edison International and SCE are involved in other legal, tax and regulatory proceedings before various courts and governmental agencies regarding matters arising in the ordinary course of business. Edison International and SCE believe the outcome of these other proceedings will not, individually or in the aggregate, materially affect its results of operations or liquidity.

San Onofre Related Matters

Replacement steam generators were installed at San Onofre in 2010 and 2011. On January 31, 2012, a leak suddenly occurred in one of the heat transfer tubes in San Onofre's Unit 3 steam generators. The Unit was safely taken off-line and subsequent inspections revealed excessive tube wear. Unit 2 was off-line for a planned outage when areas of unexpected tube wear were also discovered. On June 6, 2013, SCE decided to permanently retire Units 2 and 3.

Settlement of San Onofre CPUC Proceedings

In November 2014, the CPUC approved the San Onofre OII Settlement Agreement that SCE had entered into with TURN, ORA, SDG&E, the Coalition of California Utility Employees, and Friends of the Earth. The San Onofre OII Settlement Agreement resolved the CPUC's investigation regarding the Steam Generator Replacement Project at San Onofre and the related outages and subsequent shutdown of San Onofre. The San Onofre OII Settlement Agreement does not affect proceedings related to recoveries from third parties described below, but does describe how shareholders and customers will share any potential recoveries.

A federal lawsuit challenging the CPUC's authority to permit rate recovery of San Onofre costs and an application to the CPUC for rehearing of its decision approving the San Onofre OII Settlement Agreement were filed in November and December 2014, respectively. In April 2015, the federal lawsuit was dismissed with prejudice and the plaintiffs in that case appealed the dismissal to the Ninth Circuit in May 2015. Both the appeal and the application for rehearing remain pending.

In February 2015, SCE filed in the OII proceeding a Late-Filed Notice of Ex Parte Communication regarding a meeting in March 2013 between an SCE senior executive and the president of the CPUC, both of whom have since retired from their respective positions. Following this filing, the Alliance for Nuclear Responsibility ("A4NR"), one of the intervenors in the OII, filed a motion requesting that the CPUC institute an investigation into whether sanctions should be imposed on SCE for the late notice of the March 2013 meeting. The motion requests that the CPUC order SCE to produce all ex parte communications between SCE and the CPUC or its staff since January 31, 2012 and all internal SCE unprivileged communications that discuss such ex parte communications. On May 6, 2015, A4NR amended its motion to recommend that the CPUC impose a $38.2 million penalty on SCE and additional restrictions on ex parte communications.

On April 14, 2015, the OII ALJs ordered SCE, among other things, to produce unprivileged documents pertaining to oral and written communications regarding the possible settlement of the OII proceeding between any SCE employee and CPUC decision makers from March 2013 to November 2014. SCE produced responsive documents and information on April 29, 2015. On June 26, 2015, the ALJs requested additional information, which SCE provided on July 3, 2015. Subsequently, another intervenor, the Coalition to Decommission San Onofre, filed a motion to move the start date for the production of documents under the CPUC’s order to January 31, 2012 and to authorize the intervenors to conduct discovery of SCE. That motion remains pending.

On April 17, 2015, ORA and TURN issued press releases asking the CPUC to impose penalties on SCE as a sanction for allegedly improper ex parte communications pertaining to San Onofre or failures to report such communications. ORA recommended penalties in the amount of $648 million, representing ORA's calculation of the difference in ratepayer value between ORA's initial settlement negotiating position in the San Onofre OII and the approved settlement. TURN did not recommend a penalty amount. 

On April 27, 2015, A4NR filed a petition to modify the CPUC’s decision approving the San Onofre OII Settlement Agreement based on SCE’s alleged failures to disclose communications between SCE and CPUC decision-makers pertaining to the issues in the San Onofre OII. The petition seeks the reversal of the decision approving the San Onofre OII Settlement Agreement and reopening of the OII proceeding. Subsequently, TURN filed a response supporting A4NR's petition to reopen the San Onofre OII proceeding.

Edison International and SCE cannot predict the outcome of these proceedings.

NEIL Insurance Claims

San Onofre carries accidental property damage and carried accidental outage insurance issued by Nuclear Electric Insurance Limited ("NEIL") and has placed NEIL on notice of claims under both policies. The NEIL policies have a number of exclusions and limitations that NEIL may assert reduce or eliminate coverage (such as a limitation under which benefits may be reduced by up to 90% for periods following a planned shutdown), and SCE may choose to challenge NEIL's application of any such exclusions and limitations. Through August 30, 2014, the San Onofre owners had submitted approximately $433 million in claims (SCE's share of which is approximately $339 million) under the accidental outage insurance. These claims continue to be under review and are subject to revision and updating over time. The accidental outage insurance at San Onofre has been canceled prospectively as a result of the permanent retirement. SCE has not submitted a proof of loss under the accidental property damage insurance but reserves the right to do so. The parties are continuing discussions. SCE may challenge any reduction or denial of coverage that results from any coverage determination by NEIL. No amounts have been recognized in SCE's financial statements, pending NEIL's response to the San Onofre owners’ claims.

Under the San Onofre OII Settlement Agreement, recoveries from NEIL, if any, will first be applied to reimburse costs incurred in pursuing such recoveries, including litigation costs. To the extent SCE's share of recoveries from NEIL exceeds such costs, recoveries under the accidental outage insurance will be allocated 95% to customers and 5% to SCE and all other NEIL recoveries will be allocated 82.5% to customers and 17.5% to SCE. SCE customers' portion of amounts recovered from NEIL would be distributed to SCE customers via a credit to SCE's ERRA account.

MHI Claims

SCE is also pursuing claims against Mitsubishi Heavy Industries, Ltd. and a related company ("MHI"), which designed and supplied the RSGs. MHI warranted the RSGs for an initial period of 20 years from acceptance and is contractually obligated to repair or replace defective items with dispatch and to pay specified damages for certain repairs. MHI's stated liability under the purchase agreement is limited to $138 million and excludes consequential damages, defined to include "the cost of replacement power;" however, limitations in the contract are subject to applicable exceptions both in the contract and under law. SCE has advised MHI that it believes one or more of such exceptions apply and that MHI's liability is not limited to $138 million. MHI has advised SCE that it disagrees. In October 2013, SCE sent MHI a formal request for binding arbitration under the auspices of the International Chamber of Commerce in accordance with the purchase contract seeking damages for all losses. In the request for arbitration, SCE alleges contract and tort claims and seeks at least $4 billion in damages on behalf of itself and its customers and in its capacity as Operating Agent for San Onofre. MHI has denied any liability and has asserted counterclaims for $41 million, for which SCE has denied any liability. Each of the other San Onofre owners sued MHI, alleging claims arising from MHI's supplying the faulty steam generators. These litigation claims have been stayed pending the arbitration. The other owners (SDG&E and Riverside) have been added as additional claimants in the arbitration. The arbitration is being conducted pursuant to a confidentiality order issued by the arbitration panel.

SCE, on behalf of itself and the other San Onofre owners, has submitted seven invoices to MHI totaling $149 million for steam generator repair costs incurred through April 30, 2013. MHI paid the first invoice of $45 million, while reserving its right to challenge it and subsequently rejected a portion of the first invoice and has not paid further invoices, claiming further documentation is required, which SCE disputes. SCE recorded its share of the invoice paid (approximately $35 million) as a reduction of repair and inspection costs in 2012.

Under the San Onofre OII Settlement Agreement, recoveries from MHI (including amounts paid by MHI under the first invoice), if any, will first be applied to reimburse costs incurred in pursuing such recoveries, including litigation costs. To the extent SCE's share of recoveries from MHI exceed such costs, they will be allocated 50% to customers and 50% to SCE.

The first $282 million of SCE's customers' portion of such recoveries from MHI will be distributed to customers via a credit to a sub-account of SCE's Base Revenue Requirement Balancing Account ("BRRBA"), reducing revenue requirements from customers. Amounts in excess of the first $282 million distributable to SCE customers will reduce SCE's regulatory asset represented by the unamortized balance of investment in San Onofre base plant, reducing the revenue requirement needed to amortize such investment. The amortization period, however, will be unaffected. Any additional amounts received after the regulatory asset is recovered will be applied to the BRRBA.

The San Onofre OII Settlement Agreement provides the utilities with the discretion to resolve the NEIL and MHI disputes without CPUC approval or review, but the utilities are obligated to use their best efforts to inform the CPUC of any settlement or other resolution of these disputes to the extent this is possible without compromising any aspect of the resolution. SCE and SDG&E have also agreed to allow the CPUC to review the documentation of any final resolution of the NEIL and MHI disputes and the litigation costs incurred in pursuing claims against NEIL and MHI to ensure they are not exorbitant in relation to the recovery obtained. There is no assurance that there will be any recoveries from NEIL or MHI or, that if there are recoveries, that they will equal or exceed the costs incurred to pursue them.

NRC Proceedings

In February 2015, the NRC issued a proposed decision resolving the review of SCE's compliance with the license amendment regulatory process related to the RSGs by an NRC Staff Petition Review Board by finding the issue to be moot, given the permanent cessation of operation of San Onofre. In March 2015, the NRC issued a lessons learned report in which it restated earlier NRC inspection findings that SCE properly concluded that the replacement steam generators at San Onofre did not require a formal license amendment prior to installation using a common NRC process for replacement components.

Certain anti-nuclear groups and individual members of Congress have alleged that SCE knew of deficiencies in the steam generators when they were installed or otherwise did not correctly follow NRC requirements for the design and installation of the replacement steam generators, all of which SCE has vigorously denied, and have called for investigations, including by the Department of Justice. SCE cannot predict when or whether ongoing proceedings by the NRC will be completed or whether inquiries by other government agencies concerning how the RSG project was conducted will be initiated or reopened.

Environmental Remediation

SCE records its environmental remediation liabilities when site assessments and/or remedial actions are probable and a range of reasonably likely cleanup costs can be estimated. SCE reviews its sites and measures the liability quarterly, by assessing a range of reasonably likely costs for each identified site using currently available information, including existing technology, presently enacted laws and regulations, experience gained at similar sites, and the probable level of involvement and financial condition of other potentially responsible parties. These estimates include costs for site investigations, remediation, operation and maintenance, monitoring and site closure. Unless there is a single probable amount, SCE records the lower end of this reasonably likely range of costs (reflected in "Other long-term liabilities") at undiscounted amounts as timing of cash flows is uncertain.

At June 30, 2015, SCE's recorded estimated minimum liability to remediate its 19 identified material sites (sites in which the upper end of the range of the costs is at least $1 million) was $115 million, including $83 million related to San Onofre. In addition to these sites, SCE also has 39 immaterial sites for which the total minimum recorded liability was $4 million. Of the $119 million total environmental remediation liability for SCE, $116 million has been recorded as a regulatory asset. SCE expects to recover $30 million through an incentive mechanism that allows SCE to recover 90% of its environmental remediation costs at certain sites (SCE may request to include additional sites) and $85 million through a mechanism that allows SCE to recover 100% of the costs incurred at certain sites through customer rates. SCE's identified sites include several sites for which there is a lack of currently available information, including the nature and magnitude of contamination, and the extent, if any, that SCE may be held responsible for contributing to any costs incurred for remediating these sites. Thus, no reasonable estimate of cleanup costs can be made for these sites.

The ultimate costs to clean up SCE's identified sites may vary from its recorded liability due to numerous uncertainties inherent in the estimation process, such as: the extent and nature of contamination; the scarcity of reliable data for identified sites; the varying costs of alternative cleanup methods; developments resulting from investigatory studies; the possibility of identifying additional sites; and the time periods over which site remediation is expected to occur. SCE believes that, due to these uncertainties, it is reasonably possible that cleanup costs at the identified material sites and immaterial sites could exceed its recorded liability by up to $159 million and $8 million, respectively. The upper limit of this range of costs was estimated using assumptions least favorable to SCE among a range of reasonably possible outcomes.

SCE expects to clean up and mitigate its identified sites over a period of up to 30 years. Remediation costs for each of the next four years are expected to range from $6 million to $24 million. Costs incurred for both the six months ended June 30, 2015 and 2014 were $3 million and $1 million.

Based upon the CPUC's regulatory treatment of environmental remediation costs incurred at SCE, SCE believes that costs ultimately recorded will not materially affect its results of operations, financial position or cash flows. There can be no assurance, however, that future developments, including additional information about existing sites or the identification of new sites, will not require material revisions to estimates.

Nuclear Insurance

SCE is a member of NEIL, a mutual insurance company owned by entities with nuclear facilities. NEIL provides insurance for nuclear property damage, including damages caused by acts of terrorism up to specified limits, and for accidental outages for active facilities. The amount of nuclear property damage insurance purchased for San Onofre and Palo Verde exceeds the minimum federal requirement of $1.06 billion. If NEIL losses at any nuclear facility covered by the arrangement were to exceed the accumulated funds for these insurance programs, SCE could be assessed retrospective premium adjustments of up to approximately $52 million per year.

Federal law limits public offsite liability claims for bodily injury and property damage from a nuclear incident to the amount of available financial protection, which is currently approximately $13.4 billion. Based on its ownership interests, SCE could be required to pay a maximum of approximately $255 million per nuclear incident. However, it would have to pay no more than approximately $38 million per incident in any one year.

For more information on nuclear insurance coverage, see Note 11 in the 2014 Form 10-K.

Wildfire Insurance

Severe wildfires in California have given rise to large damage claims against California utilities for fire-related losses alleged to be the result of the failure of electric and other utility equipment. Invoking a California Court of Appeal decision, plaintiffs pursuing these claims have relied on the doctrine of inverse condemnation, which can impose strict liability (including liability for a claimant's attorneys' fees) for property damage. Prolonged drought conditions in California have also increased the risk of severe wildfire events. On June 1, 2015, Edison International renewed its liability insurance coverage, which included coverage for SCE's wildfire liabilities up to a $610 million limit (with a self-insured retention of $10 million per wildfire occurrence). Various coverage limitations within the policies that make up this insurance coverage could result in additional self-insured costs in the event of multiple wildfire occurrences during the policy period (June 1, 2015 to May 31, 2016). SCE also has additional coverage for certain wildfire liabilities of $390 million, which applies when total covered wildfire claims exceed $610 million, through June 14, 2016. SCE may experience coverage reductions and/or increased insurance costs in future years. No assurance can be given that future losses will not exceed the limits of SCE's insurance coverage.

Spent Nuclear Fuel

Under federal law, the Department of Energy ("DOE") is responsible for the selection and construction of a facility for the permanent disposal of spent nuclear fuel and high-level radioactive waste. The DOE has not met its contractual obligation to accept spent nuclear fuel. Extended delays by the DOE have led to the construction of costly alternatives and associated siting and environmental issues. Currently, both San Onofre and Palo Verde have interim storage for spent nuclear fuel on site sufficient for the current license period.

SCE, as operating agent, filed a lawsuit on behalf of the San Onofre owners against the DOE in the Court of Federal Claims seeking damages of approximately $182 million for the DOE's failure to meet its obligation to begin accepting spent nuclear fuel for the period from January 1, 2006 to December 31, 2013. Additional legal action would be necessary to recover damages incurred after December 31, 2013. All damages recovered by SCE are subject to CPUC review as to how these amounts would be distributed among customers, shareholders, or to offset fuel decommissioning or storage costs.

XML

Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Assets [Abstract]
Cash and cash equivalents	$ 139	$ 132
Receivables, less allowances for uncollectible accounts	768	790
Accrued unbilled revenue	853	632
Inventory	276	281
Derivative assets	79	102
Regulatory assets	1,066	1,254
Deferred income taxes	288	452
Other current assets	437	376
Total current assets	3,906	4,019
Nuclear decommissioning trusts	4,836	4,799
Other investments	210	207
Total investments	5,046	5,006
Utility property, plant and equipment, less accumulated depreciation and amortization	33,594	32,859
Nonutility property, plant and equipment, less accumulated depreciation	132	122
Total property, plant and equipment	33,726	32,981
Derivative assets	194	219
Regulatory assets	8,009	7,612
Other long-term assets	358	349
Total long-term assets	8,561	8,180
Total assets	51,239	50,186
LIABILITIES AND EQUITY
Short-term debt	1,415	1,291
Current portion of long-term debt	204	504
Accounts payable	1,294	1,580
Accrued taxes	36	81
Customer deposits	234	221
Derivative liabilities	162	196
Regulatory liabilities	454	401
Other current liabilities	1,037	1,205
Total current liabilities	4,836	5,479
Long-term debt	11,265	10,234
Deferred income taxes and credits	7,599	7,313
Derivative liabilities	1,155	1,052
Pensions and benefits	2,176	2,155
Asset retirement obligations	2,825	2,821
Regulatory liabilities	5,813	5,889
Other deferred credits and other long-term liabilities	2,220	2,255
Total deferred credits and other liabilities	21,788	21,485
Total liabilities	$ 37,889	$ 37,198
Commitments and contingencies (Note 11)
Redeemable noncontrolling interest	$ 3	$ 6
Common stock, no par value	2,472	2,445
Accumulated other comprehensive loss	(56)	(58)
Retained earnings	8,909	8,573
Total common shareholders' equity	11,325	10,960
Noncontrolling interests – preferred and preference stock of utility	2,022	2,022
Total equity	13,347	12,982
Total liabilities and equity	51,239	50,186
Southern California Edison
Assets [Abstract]
Cash and cash equivalents	53	38
Receivables, less allowances for uncollectible accounts	745	749
Accrued unbilled revenue	853	632
Inventory	261	275
Derivative assets	79	102
Regulatory assets	1,066	1,254
Other current assets	457	390
Total current assets	3,514	3,440
Nuclear decommissioning trusts	4,836	4,799
Other investments	167	158
Total investments	5,003	4,957
Utility property, plant and equipment, less accumulated depreciation and amortization	33,594	32,859
Nonutility property, plant and equipment, less accumulated depreciation	70	69
Total property, plant and equipment	33,664	32,928
Derivative assets	194	219
Regulatory assets	8,009	7,612
Other long-term assets	309	300
Total long-term assets	8,512	8,131
Total assets	50,693	49,456
LIABILITIES AND EQUITY
Short-term debt	851	667
Current portion of long-term debt	0	300
Accounts payable	1,286	1,556
Accrued taxes	25	87
Customer deposits	234	221
Derivative liabilities	162	196
Regulatory liabilities	454	401
Deferred income taxes	253	209
Other current liabilities	1,031	1,183
Total current liabilities	4,296	4,820
Long-term debt	10,654	9,624
Deferred income taxes and credits	8,673	8,288
Derivative liabilities	1,155	1,052
Pensions and benefits	1,677	1,672
Asset retirement obligations	2,824	2,819
Regulatory liabilities	5,813	5,889
Other deferred credits and other long-term liabilities	1,933	2,010
Total deferred credits and other liabilities	22,075	21,730
Total liabilities	$ 37,025	$ 36,174
Commitments and contingencies (Note 11)
Common stock, no par value	$ 2,168	$ 2,168
Additional paid-in capital	630	618
Accumulated other comprehensive loss	(26)	(28)
Retained earnings	8,826	8,454
Total common shareholders' equity	11,598	11,212
Noncontrolling interests – preferred and preference stock of utility	2,070	2,070
Total equity	13,668	13,282
Total liabilities and equity	$ 50,693	$ 49,456

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Debt and Credit Agreements

6 Months Ended

Jun. 30, 2015

Debt Disclosure [Abstract]

Debt and Credit Agreements

Debt and Credit Agreements

Credit Agreements and Short-Term Debt

SCE and Edison International Parent have multi-year revolving credit facilities of $2.75 billion and $1.25 billion, respectively. In July 2015, SCE and Edison International Parent amended the credit facilities to extend the maturity dates to July 2020 for $2.6 billion and $1.18 billion, respectively. The remaining $150 million and $68 million for the SCE and Edison International Parent credit facilities, respectively, will mature in July 2019. SCE's credit facility is generally used to support commercial paper borrowings and letters of credit issued for procurement-related collateral requirements, balancing account undercollections and for general corporate purposes, including working capital requirements to support operations and capital expenditures. Edison International Parent's credit facility is used to support commercial paper borrowings and for general corporate purposes.

At June 30, 2015, SCE's outstanding commercial paper was $852 million at a weighted-average interest rate of 0.34%. At June 30, 2015, letters of credit issued under SCE's credit facility aggregated $117 million and are scheduled to expire in twelve months or less. At December 31, 2014, the outstanding commercial paper was $367 million at a weighted-average interest rate of 0.40%.

At June 30, 2015, Edison International Parent's outstanding commercial paper was $545 million at a weighted-average interest rate of 0.48%. At December 31, 2014, the outstanding commercial paper was $619 million at a weighted-average interest rate of 0.45%.

Project Financing

During 2014, indirect subsidiaries of Edison International entered into a $31.6 million non-recourse debt financing to support investment in approximately 35 megawatts of solar rooftop projects. The financing is required to be converted to a 7-year term loan during 2015, subject to meeting specified conditions. As of June 30, 2015, there was $18.6 million outstanding under this financing at a weighted average interest rate of 2.69% which is currently classified as short-term debt.

Long-Term Debt

During the first quarter of 2015, SCE issued $550 million of 1.845% amortizing first and refunding mortgage bonds due in 2022, $325 million of 2.4% first and refunding mortgage bonds due in 2022, and $425 million of 3.6% first and refunding mortgage bonds due in 2045. The proceeds from these bonds were used to repay outstanding debt and for general corporate purposes. The $550 million amortizing first and refunding mortgage bonds and the $325 million of first and refunding mortgage bonds have been designated as a financing of the San Onofre regulatory asset.

During the second quarter of 2015, SCE reissued $56 million of 1.875% pollution-control bonds due in 2029 and $75 million of 1.875% pollution-control bonds due in 2031. The proceeds were used to repay commercial paper borrowings and for general corporate purposes.

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Fair Value Measurements

6 Months Ended

Jun. 30, 2015

Fair Value Disclosures [Abstract]

Fair Value Measurements

Fair Value Measurements

Recurring Fair Value Measurements

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (referred to as an "exit price"). Fair value of an asset or liability considers assumptions that market participants would use in pricing the asset or liability, including assumptions about nonperformance risk. As of June 30, 2015 and December 31, 2014, nonperformance risk was not material for Edison International and SCE.

Assets and liabilities are categorized into a three-level fair value hierarchy based on valuation inputs used to determine fair value.

Level 1 – The fair value of Edison International's and SCE's Level 1 assets and liabilities is determined using unadjusted quoted prices in active markets that are available at the measurement date for identical assets and liabilities. This level includes exchange-traded equity securities, U.S. treasury securities, mutual funds and money market funds.

Level 2 – Edison International and SCE's Level 2 assets and liabilities include fixed income securities primarily consisting of U.S. government and agency bonds, municipal bonds and corporate bonds, and over-the-counter derivatives. The fair value of fixed income securities is determined using a market approach by obtaining quoted prices for similar assets and liabilities in active markets and inputs that are observable, either directly or indirectly, for substantially the full term of the instrument.

The fair value of SCE's over-the-counter derivative contracts is determined using an income approach. SCE uses standard pricing models to determine the net present value of estimated future cash flows. Inputs to the pricing models include forward published or posted clearing prices from exchanges (New York Mercantile Exchange and Intercontinental Exchange) for similar instruments and discount rates. A primary price source that best represents trade activity for each market is used to develop observable forward market prices in determining the fair value of these positions. Broker quotes, prices from exchanges or comparison to executed trades are used to validate and corroborate the primary price source. These price quotations reflect mid-market prices (average of bid and ask) and are obtained from sources believed to provide the most liquid market for the commodity.

Level 3 – The fair value of SCE's Level 3 assets and liabilities is determined using the income approach through various models and techniques that require significant unobservable inputs. This level includes over-the-counter options, tolling arrangements and derivative contracts that trade infrequently such as congestion revenue rights ("CRRs") and long-term power agreements. Edison International Parent and Other does not have any Level 3 assets and liabilities.

Assumptions are made in order to value derivative contracts in which observable inputs are not available. Changes in fair value are based on changes to forward market prices, including extrapolation of short-term observable inputs into forecasted prices for illiquid forward periods. In circumstances where fair value cannot be verified with observable market transactions, it is possible that a different valuation model could produce a materially different estimate of fair value. Modeling methodologies, inputs and techniques are reviewed and assessed as markets continue to develop and more pricing information becomes available and the fair value is adjusted when it is concluded that a change in inputs or techniques would result in a new valuation that better reflects the fair value of those derivative contracts.

SCE

The following table sets forth assets and liabilities of SCE that were accounted for at fair value by level within the fair value hierarchy:

	June 30, 2015
(in millions)	Level 1		Level 2		Level 3			Netting and Collateral1			Total
Assets at fair value
Derivative contracts	$	—	$	—	$	273		$	—		$	273
Other	46		—		—			—			46
Nuclear decommissioning trusts:
Stocks2	2,084		—		—			—			2,084
Fixed Income3	1,029		1,607		—			—			2,636
Short-term investments, primarily cash equivalents	26		145		—			—			171
Subtotal of nuclear decommissioning trusts4	3,139		1,752		—			—			4,891
Total assets	3,185		1,752		273			—			5,210
Liabilities at fair value
Derivative contracts	—		29		1,317			(29		)	1,317
Total liabilities	—		29		1,317			(29		)	1,317
Net assets (liabilities)	$	3,185	$	1,723	$	(1,044	)	$	29		$	3,893

	December 31, 2014
(in millions)	Level 1		Level 2		Level 3			Netting and Collateral1			Total
Assets at fair value
Derivative contracts	$	—	$	—	$	321		$	—		$	321
Other	33		—		—			—			33
Nuclear decommissioning trusts:
Stocks2	2,031		—		—			—			2,031
Fixed Income3	703		1,350		—			—			2,053
Short-term investments, primarily cash equivalents	606		166		—			—			772
Subtotal of nuclear decommissioning trusts4	3,340		1,516		—			—			4,856
Total assets	3,373		1,516		321			—			5,210
Liabilities at fair value
Derivative contracts	—		86		1,223			(61		)	1,248
Total liabilities	—		86		1,223			(61		)	1,248
Net assets (liabilities)	$	3,373	$	1,430	$	(902	)	$	61		$	3,962

¹  Represents the netting of assets and liabilities under master netting agreements and cash collateral across the levels of the fair value hierarchy. Netting among positions classified within the same level is included in that level.

²  Approximately 72% and 73% of SCE's equity investments were located in the United States at June 30, 2015 and December 31, 2014, respectively.

³  Includes corporate bonds, which were diversified and included collateralized mortgage obligations and other asset backed securities of $162 million and $49 million at June 30, 2015 and December 31, 2014, respectively.

⁴  Excludes net payables of $55 million and net payables of $57 million at June 30, 2015 and December 31, 2014, which consist of interest and dividend receivables as well as receivables and payables related to SCE's pending securities sales and purchases.

Edison International

Edison International assets measured at fair value consisted of money market funds of $56 million and $35 million at June 30, 2015 and December 31, 2014, respectively, classified as Level 1.

SCE Fair Value of Level 3

The following table sets forth a summary of changes in SCE's fair value of Level 3 net derivative assets and liabilities:

	Three months ended June 30,						Six months ended June 30,
(in millions)	2015			2014			2015			2014
Fair value of net liabilities at beginning of period	$	(976	)	$	(773	)	$	(902	)	$	(805	)
Total realized/unrealized gains (losses):
Included in regulatory assets and liabilities1	(68		)	(108		)	(142		)	(77		)
Purchases	—			8			—			15
Settlements	—			(5		)	—			(11		)
Fair value of net liabilities at end of period	$	(1,044	)	$	(878	)	$	(1,044	)	$	(878	)
Change during the period in unrealized gains and losses related to assets and liabilities held at the end of the period	$	(65	)	$	(116	)	$	(148	)	$	(84	)

¹  Due to regulatory mechanisms, SCE's realized and unrealized gains and losses are recorded as regulatory assets and liabilities.

Edison International and SCE recognize the fair value for transfers in and transfers out of each level at the end of each reporting period. There were no transfers between any levels during 2015 and 2014.

Valuation Techniques Used to Determine Fair Value

The process of determining fair value is the responsibility of SCE's risk management department, which reports to SCE's chief financial officer. This department obtains observable and unobservable inputs through broker quotes, exchanges and internal valuation techniques that use both standard and proprietary models to determine fair value. Each reporting period, the risk and finance departments collaborate to determine the appropriate fair value methodologies and classifications for each derivative. Inputs are validated for reasonableness by comparison against prior prices, other broker quotes and volatility fluctuation thresholds. Inputs used and valuations are reviewed period-over-period and compared with market conditions to determine reasonableness.

The following table sets forth SCE's valuation techniques and significant unobservable inputs used to determine fair value for significant Level 3 assets and liabilities:

	Fair Value (in millions)					Significant	Range
	Assets		Liabilities		Valuation Technique(s)	Unobservable Input	(Weighted Average)
Congestion revenue rights
June 30, 2015	$	261	$	—	Market simulation model	Load forecast	7,630 MW - 25,431 MW
						Power prices1	$1.65 - $109.95
						Gas prices2	$3.65 - $6.53
December 31, 2014	317		—		Market simulation model	Load forecast	7,630 MW - 25,431 MW
						Power prices1	$1.65 - $109.95
						Gas prices2	$3.65 - $6.53
Tolling
June 30, 2015	6		1,316		Option model	Volatility of gas prices	15% - 42% (20%)
						Volatility of power prices	26% - 96% (30%)
						Power prices	$30.62 - $54.60 ($39.50)
December 31, 2014	4		1,207		Option model	Volatility of gas prices	13% - 53% (20%)
						Volatility of power prices	25% - 42% (30%)
						Power prices	$30.60 - $61.40 ($44.60)

¹  Prices are in dollars per megawatt-hour.

²  Prices are in dollars per million British thermal units.

Level 3 Fair Value Sensitivity

Congestion Revenue Rights

For CRRs, where SCE is the buyer, generally increases (decreases) in forecasted load in isolation would result in increases (decreases) to the fair value. In general, an increase (decrease) in electricity and gas prices at illiquid locations tends to result in increases (decreases) to fair value; however, changes in electricity and gas prices in opposite directions may have varying results on fair value.

Tolling Arrangements

The fair values of SCE's tolling arrangements contain intrinsic value and time value. Intrinsic value is the difference between the market price and strike price of the underlying commodity. Time value is made up of several components, including volatility, time to expiration, and interest rates. The option model for tolling arrangements reflects plant specific information such as operating and start-up costs.

For tolling arrangements where SCE is the buyer, increases in volatility of the underlying commodity prices would result in increases to fair value as it represents greater price movement risk. As power and gas prices increase, the fair value of tolling arrangements tends to increase. The valuation of tolling arrangements is also impacted by the correlation between gas and power prices. As the correlation increases, the fair value of tolling arrangements tends to decline.

Nuclear Decommissioning Trusts

SCE's nuclear decommissioning trust investments include equity securities, U.S. treasury securities and other fixed income securities. Equity and treasury securities are classified as Level 1 as fair value is determined by observable market prices in active or highly liquid and transparent markets. The remaining fixed income securities are classified as Level 2. The fair value of these financial instruments is based on evaluated prices that reflect significant observable market information such as reported trades, actual trade information of similar securities, benchmark yields, broker/dealer quotes, issuer spreads, bids, offers and relevant credit information.

Fair Value of Debt Recorded at Carrying Value

The carrying value and fair value of Edison International's and SCE's long-term debt (including current portion of long-term debt) are as follows:

	June 30, 2015				December 31, 2014
(in millions)	Carrying Value		Fair Value		Carrying Value		Fair Value
SCE	$	10,654	$	11,569	$	9,924	$	11,479
Edison International	11,469		12,406		10,738		12,319

The fair value of Edison International and SCE's short-term and long-term debt is classified as Level 2 and is based on evaluated prices that reflect significant observable market information such as reported trades, actual trade information of similar securities, benchmark yields, broker/dealer quotes of new issue prices and relevant credit information.

The carrying value of Edison International's and SCE's trade receivables and payables, other investments, and short-term debt approximates fair value.

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Summary of Significant Accounting Policies (Policies)

6 Months Ended

Jun. 30, 2015

Accounting Policies [Abstract]

Organization and Basis of Presentation

Organization and Basis of Presentation

Edison International is the parent holding company of Southern California Edison Company ("SCE"). SCE is an investor-owned public utility primarily engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. Edison International is also the parent company of Edison Energy Group, a company that holds interests in subsidiaries that are engaged in competitive businesses related to the generation, delivery, or use of electricity. Such competitive business activities are currently not material to report as a separate business segment. These combined notes to the consolidated financial statements apply to both Edison International and SCE unless otherwise described. Edison International's consolidated financial statements include the accounts of Edison International, SCE and other wholly owned and controlled subsidiaries. References to Edison International refer to the consolidated group of Edison International and its subsidiaries. References to Edison International Parent and Other refer to Edison International Parent and its nonutility subsidiaries. SCE's consolidated financial statements include the accounts of SCE and its wholly owned and controlled subsidiaries. All intercompany transactions have been eliminated from the consolidated financial statements.

Edison International's and SCE's significant accounting policies were described in Note 1 of "Notes to Consolidated Financial Statements" included in the 2014 Form 10-K. This quarterly report should be read in conjunction with the financial statements and notes included in the 2014 Form 10-K.

In the opinion of management, all adjustments, consisting of recurring accruals, have been made that are necessary to fairly state the consolidated financial position, results of operations and cash flows in accordance with accounting principles generally accepted in the United States of America for the periods covered by this quarterly report on Form 10-Q. The results of operations for the three- and six-month periods ended June 30, 2015 are not necessarily indicative of the operating results for the full year.

The December 31, 2014 condensed consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America.

Cash Equivalents

Cash Equivalents

Cash equivalents included investments in money market funds. Generally, the carrying value of cash equivalents equals the fair value, as these investments have original maturities of three months or less.

Inventory

Inventory

Inventory is primarily composed of materials, supplies and spare parts, and stated at the lower of cost or market, cost being determined by the average cost method.

Earnings Per Share

Earnings Per Share

Edison International computes earnings per common share ("EPS") using the two-class method, which is an earnings allocation formula that determines EPS for each class of common stock and participating security. Edison International's participating securities are stock-based compensation awards payable in common shares, including performance shares and restricted stock units, which earn dividend equivalents on an equal basis with common shares once the awards are vested.

New Accounting Guidance

New Accounting Guidance

Accounting Guidance Not Yet Adopted

On May 28, 2014, the FASB issued an accounting standards update on revenue recognition including enhanced disclosures. Under the new standard, revenue is recognized when (or as) a good or service is transferred to the customer and the customer obtains control of the good or service. On July 9, 2015, the FASB approved a one-year deferral, updating the effective date to January 1, 2018.Edison International and SCE are currently evaluating this new guidance and cannot determine the impact of this standard at this time.

On April 7, 2015, the FASB issued an accounting standards update that will require debt issuance costs to be presented in the balance sheet as a direct deduction from the carrying amount of the related debt liability, consistent with debt discounts. Currently, these costs are presented as a deferred charge asset. Edison International and SCE will adopt this guidance in the first quarter of 2016. The adoption of this accounting standards update is not expected to have a material impact on Edison International's and SCE's consolidated financial statements.

On April 15, 2015, the FASB issued an accounting standard update on fees paid by a customer for software licenses. This new standard provides guidance about whether a cloud computing arrangement includes a software license which may be capitalized in certain circumstances. If a cloud computing arrangement does not include a software license, then the arrangement should be accounted for as a service contract. Edison International and SCE are currently evaluating this guidance, which is effective January 1, 2016, and expects this new standard will not have a material impact on the consolidated financial statements.

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Accumulated Other Comprehensive Loss

6 Months Ended

Jun. 30, 2015

Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]

Accumulated Other Comprehensive Loss

Accumulated Other Comprehensive Loss

Edison International's accumulated other comprehensive loss, net of tax consist of:

	Three months ended June 30,						Six months ended June 30,
(in millions)	2015			2014			2015			2014
Beginning balance	$	(59	)	$	(11	)	$	(58	)	$	(13	)
Pension and PBOP – net income (loss):
Other comprehensive loss before reclassifications	(1		)	(5		)	(4		)	(5		)
Reclassified from accumulated other comprehensive loss1	4			1			6			3
Other	—			2			—			2
Change	3			(2		)	2			—
Ending Balance	$	(56	)	$	(13	)	$	(56	)	$	(13	)

¹  These items are included in the computation of net periodic pension and PBOP expense. See Note 8 for additional information.

SCE's accumulated other comprehensive loss, net of tax consist of:

	Three months ended June 30,						Six months ended June 30,
(in millions)	2015			2014			2015			2014
Beginning balance	$	(27	)	$	(10	)	$	(28	)	$	(11	)
Pension and PBOP – net income (loss):
Other comprehensive loss before reclassifications	(1		)	—			(1		)	—
Reclassified from accumulated other comprehensive loss1	2			—			3			1
Other	—			2			—			2
Change	1			2			2			3
Ending Balance	$	(26	)	$	(8	)	$	(26	)	$	(8	)

¹  These items are included in the computation of net periodic pension and PBOP expense. See Note 8 for additional information.

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Compensation and Benefit Plans

6 Months Ended

Jun. 30, 2015

Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]

Compensation and Benefit Plans

Compensation and Benefit Plans

Pension Plans

Edison International made contributions of $45 million during the six months ended June 30, 2015, which includes contributions of $38 million by SCE. Edison International expects to make contributions of $76 million during the remainder of 2015, which includes $54 million from SCE. Annual contributions made by SCE to most of SCE's pension plans are anticipated to be recovered through CPUC-approved regulatory mechanisms, pending the outcome of the 2015 GRC decision. Annual contributions to these plans are expected to be, at a minimum, equal to the related annual expense.

Pension expense components for continuing operations are:

	Three months ended June 30,						Six months ended June 30,
(in millions)	2015			2014			2015			2014
Edison International:
Service cost	$	35		$	29		$	70		$	59
Interest cost	42			48			83			93
Expected return on plan assets	(57		)	(60		)	(114		)	(117		)
Amortization of prior service cost	1			2			2			3
Amortization of net loss1	9			1			18			2
Expense under accounting standards	$	30		$	20		$	59		$	40
Regulatory adjustment	(2		)	30			(3		)	61
Total expense recognized	$	28		$	50		$	56		$	101
SCE:
Service cost	$	34		$	29		$	69		$	58
Interest cost	37			44			75			88
Expected return on plan assets	(54		)	(56		)	(107		)	(112		)
Amortization of prior service cost	2			1			3			2
Amortization of net loss1	8			1			15			1
Expense under accounting standards	$	27		$	19		$	55		$	37
Regulatory adjustment	(1		)	30			(2		)	61
Total expense recognized	$	26		$	49		$	53		$	98

¹  Includes the amount of net loss reclassified from other comprehensive income. The amount reclassified for Edison International and SCE was $4 million and $2 million, respectively, for the three months ended June 30, 2015, and $7 million and $4 million, respectively, for the six months ended June 30, 2015. The amount reclassified for Edison International and SCE was $1 million and $1 million, respectively, for the three months ended June 30, 2014 and $3 million and $2 million, respectively, for the six months ended June 30, 2014.

Postretirement Benefits Other Than Pensions

Edison International made contributions of $30 million during the six months ended June 30, 2015 and expects to make contributions of $29 million during the remainder of 2015, substantially all of which are expected to be made by SCE. Annual contributions made to SCE plans are anticipated to be recovered through CPUC-approved regulatory mechanisms and are expected to be, at a minimum, equal to the total annual expense for these plans, pending the outcome of the 2015 GRC decision. Benefits under these plans, with some exceptions, are generally unvested and subject to change. Under the terms of the Edison International Health and Welfare Plan ("PBOP Plan") each participating employer (Edison International or its participating subsidiaries) is responsible for the costs and expenses of all PBOP benefits with respect to its employees and former employees. A participating employer may terminate the PBOP benefits with respect to its employees and former employees, as may SCE (as Plan sponsor), and, accordingly, the participants' PBOP benefits are not vested benefits.

PBOP expense components for continuing operations are:

	Three months ended June 30,						Six months ended June 30,
(in millions)	2015			2014			2015			2014
Edison International:
Service cost	$	12		$	11		$	24		$	22
Interest cost	28			27			57			54
Expected return on plan assets	(29		)	(28		)	(57		)	(56		)
Amortization of prior service cost	(3		)	(9		)	(6		)	(18		)
Amortization of net loss	6			—			12			—
Total expense	$	14		$	1		$	30		$	2
SCE:
Service cost	$	12		$	11		$	24		$	22
Interest cost	28			27			56			54
Expected return on plan assets	(28		)	(28		)	(56		)	(56		)
Amortization of prior service cost	(3		)	(9		)	(6		)	(18		)
Amortization of net loss	5			—			11			—
Total expense	$	14		$	1		$	29		$	2

Workforce Reductions

SCE continues to focus on productivity improvements to mitigate rate pressure from its capital program, optimize its cost structure and improve operational efficiency, which is expected to result in further workforce reductions through 2016. During the second quarter of 2015, SCE increased the estimated impact for workforce reduction approved through the end of the quarter. During the second quarter of 2014, SCE increased the estimated impact for workforce reductions related to transferring certain information technology activities to third parties.

The following table provides a summary of changes in the accrued severance liability associated with these reductions:

(in millions)
Balance at January 1, 2015	$	35
Additions	10
Payments	(24		)
Balance at June 30, 2015	$	21

The liability presented in the table above is reflected in "Other current liabilities" on the consolidated balance sheets. The severance costs are included in "Operation and maintenance" on the consolidated income statements.

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Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Increase (Decrease) in Accumulated Other Comprehensive Loss
Beginning balance			$ (58)
Other	$ 0	$ 2	0	$ 2
Other comprehensive income (loss), net of tax	3	(2)	2	0
Ending Balance	(56)		(56)
Accumulated Defined Benefit Plans Adjustment
Increase (Decrease) in Accumulated Other Comprehensive Loss
Beginning balance	(59)	(11)	(58)	(13)
Other comprehensive loss before reclassifications	(1)	(5)	(4)	(5)
Reclassified from accumulated other comprehensive income	4	1	6	3
Other	0	2	0	2
Other comprehensive income (loss), net of tax	3	(2)	2	0
Ending Balance	(56)	(13)	(56)	(13)
Southern California Edison
Increase (Decrease) in Accumulated Other Comprehensive Loss
Beginning balance			(28)
Other	0	2	0	2
Other comprehensive income (loss), net of tax	1	2	2	3
Ending Balance	(26)		(26)
Southern California Edison | Accumulated Defined Benefit Plans Adjustment
Increase (Decrease) in Accumulated Other Comprehensive Loss
Beginning balance	(27)	(10)	(28)	(11)
Other comprehensive loss before reclassifications	(1)	0	(1)	0
Reclassified from accumulated other comprehensive income	2	0	3	1
Other	0	2	0	2
Other comprehensive income (loss), net of tax	1	2	2	3
Ending Balance	$ (26)	$ (8)	$ (26)	$ (8)

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Derivative Instruments

6 Months Ended

Jun. 30, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments

Derivative Instruments

Derivative financial instruments are used to manage exposure to commodity price risk. These risks are managed in part by entering into forward commodity transactions, including options, swaps and futures. To mitigate credit risk from counterparties in the event of nonperformance, master netting agreements are used whenever possible and counterparties may be required to pledge collateral depending on the creditworthiness of each counterparty and the risk associated with the transaction.

Commodity Price Risk

Commodity price risk represents the potential impact that can be caused by a change in the market value of a particular commodity. SCE's electricity price exposure arises from energy purchased from and sold to wholesale markets as a result of differences between SCE's load requirements and the amount of energy delivered from its generating facilities and power purchase agreements. SCE's natural gas price exposure arises from natural gas purchased for the Mountainview power plant and peaker plants, QF contracts where pricing is based on a monthly natural gas index and power purchase agreements in which SCE has agreed to provide the natural gas needed for generation, referred to as tolling arrangements.

Credit and Default Risk

Credit and default risk represent the potential impact that can be caused if a counterparty were to default on its contractual obligations and SCE would be exposed to spot markets for buying replacement power or selling excess power. In addition, SCE would be exposed to the risk of non-payment of accounts receivable, primarily related to the sales of excess power and realized gains on derivative instruments.

Certain power contracts contain master netting agreements or similar agreements, which generally allow counterparties subject to the agreement to setoff amounts when certain criteria are met, such as in the event of default. The objective of netting is to reduce credit exposure. Additionally, to reduce SCE's risk exposures counterparties may be required to pledge collateral depending on the creditworthiness of each counterparty and the risk associated with the transaction.

Certain power contracts contain a provision that requires SCE to maintain an investment grade rating from each of the major credit rating agencies, referred to as a credit-risk-related contingent feature. If SCE's credit rating were to fall below investment grade, SCE may be required to post additional collateral to cover derivative liabilities and the related outstanding payables. The net fair value of all derivative liabilities with these credit-risk-related contingent features was $36 million and $53 million as of June 30, 2015 and December 31, 2014, respectively. SCE has posted no collateral at June 30, 2015 and $13 million at December 31, 2014 to its counterparties at the respective dates for its derivative liabilities and related outstanding payables. If the credit-risk-related contingent features underlying these agreements were triggered on June 30, 2015, SCE would be required to post $34 million of additional collateral.

Fair Value of Derivative Instruments

SCE presents its derivative assets and liabilities on a net basis on its consolidated balance sheets when subject to master netting agreements or similar agreements. Derivative positions are offset against margin and cash collateral deposits. In addition, SCE has provided collateral in the form of letters of credit. Collateral requirements can vary depending upon the level of unsecured credit extended by counterparties, changes in market prices relative to contractual commitments and other factors. See Note 4 for a discussion of fair value of derivative instruments. The following table summarizes the gross and net fair values of SCE's commodity derivative instruments:

	June 30, 2015
	Derivative Assets								Derivative Liabilities								Net Liability
(in millions)	Short-Term			Long-Term		Subtotal			Short-Term			Long-Term		Subtotal
Commodity derivative contracts
Gross amounts recognized	$	92		$	194	$	286		$	204		$	1,155	$	1,359		$	1,073
Gross amounts offset in the consolidated balance sheets	(13		)	—		(13		)	(13		)	—		(13		)	—
Cash collateral posted1	—			—		—			(29		)	—		(29		)	(29		)
Net amounts presented in the consolidated balance sheets	$	79		$	194	$	273		$	162		$	1,155	$	1,317		$	1,044

	December 31, 2014
	Derivative Assets								Derivative Liabilities								Net Liability
(in millions)	Short-Term			Long-Term		Subtotal			Short-Term			Long-Term		Subtotal
Commodity derivative contracts
Gross amounts recognized	$	104		$	219	$	323		$	259		$	1,052	$	1,311		$	988
Gross amounts offset in the consolidated balance sheets	(2		)	—		(2		)	(2		)	—		(2		)	—
Cash collateral posted1	—			—		—			(61		)	—		(61		)	(61		)
Net amounts presented in the consolidated balance sheets	$	102		$	219	$	321		$	196		$	1,052	$	1,248		$	927

¹  In addition, at June 30, 2015 and December 31, 2014, SCE had posted $34 million and $36 million, respectively, of collateral that is not offset against derivative liabilities and is reflected in "Other current assets" on the consolidated balance sheets.

Income Statement Impact of Derivative Instruments

SCE recognizes realized gains and losses on derivative instruments as purchased power expense and expects that such gains or losses will be part of the purchase power costs recovered from customers. As a result, realized gains and losses do not affect earnings, but may temporarily affect cash flows. Due to expected future recovery from customers, unrealized gains and losses are recorded as regulatory assets and liabilities and therefore also do not affect earnings. The results of derivative activities and related regulatory offsets are recorded in cash flows from operating activities in the consolidated statements of cash flows.

The following table summarizes the components of SCE's economic hedging activity:

	Three months ended June 30,						Six months ended June 30,
(in millions)	2015			2014			2015			2014
Realized losses	$	(39	)	$	(4	)	$	(75	)	$	(41	)
Unrealized losses	(16		)	(110		)	(85		)	(58		)

Notional Volumes of Derivative Instruments

The following table summarizes the notional volumes of derivatives used for SCE hedging activities:

	Unit of	Economic Hedges
Commodity	Measure	June 30, 2015	December 31, 2014
Electricity options, swaps and forwards	GWh	5,323	3,618
Natural gas options, swaps and forwards	Bcf	88	83
Congestion revenue rights	GWh	96,541	122,859
Tolling arrangements	GWh	75,352	79,989

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Income Taxes

6 Months Ended

Jun. 30, 2015

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

Effective Tax Rate

The table below provides a reconciliation of income tax expense computed at the federal statutory income tax rate to the income tax provision:

	Three months ended June 30,						Six months ended June 30,
(in millions)	2015			2014			2015			2014
Edison International:
Income from continuing operations before income taxes	$	412		$	466		$	837		$	671
Provision for income tax at federal statutory rate of 35%	144			164			293			235
Increase (decrease) in income tax from:
State tax, net of federal benefit	5			6			16			7
Property-related	(69		)	(55		)	(129		)	(106		)
Change related to uncertain tax positions	(77		)	(21		)	(62		)	(14		)
San Onofre OII settlement	—			—			—			(40		)
Other	3			(10		)	(5		)	(17		)
Total income tax expense from continuing operations	$	6		$	84		$	113		$	65
Effective tax rate	1.5		%	18.0		%	13.5		%	9.7		%
SCE:
Income from continuing operations before income taxes	$	419		$	490		$	860		$	712
Provision for income tax at federal statutory rate of 35%	147			171			301			249
Increase (decrease) in income tax from:
State tax, net of federal benefit	2			9			16			10
Property-related	(69		)	(55		)	(129		)	(106		)
Change related to uncertain tax positions	(75		)	(17		)	(65		)	(10		)
San Onofre OII settlement	—			—			—			(40		)
Other	2			(10		)	(8		)	(17		)
Total income tax expense from continuing operations	$	7		$	98		$	115		$	86
Effective tax rate	1.7		%	20.0		%	13.4		%	12.1		%

The CPUC requires flow-through ratemaking treatment for the current tax benefit arising from certain property-related and other temporary differences which reverse over time. The accounting treatment for these temporary differences results in recording regulatory assets and liabilities for amounts that would otherwise be recorded to deferred income tax expense.

Property-related items include recognition of income tax benefits from repair deductions. The CPUC classifies repair deductions as a flow-through item which affects earnings to the extent actual income tax benefits from repair deductions differ from the estimated amounts included in authorized revenue. Income tax benefits for repair deductions in excess of the amounts recorded as a reduction in revenue on an after tax basis were $8 million and $24 million for the three months ended June 30, 2015 and 2014, respectively, and were $15 million and $49 million for the six months ended June 30, 2015 and 2014, respectively.

During the three months ended June 30, 2015, SCE recorded $18 million of additional income taxes for revisions to estimated net operating loss carrybacks, interest and state income taxes.

Tax Disputes

Tax Years 2007 – 2009

Edison International received a Revenue Agent Report from the IRS in February 2013 which included a proposed adjustment to disallow a component of SCE's percentage repair allowance deduction. The proposed adjustment, if sustained, would result in a federal tax liability of approximately $79 million, including interest through June 30, 2015. Edison International has tentatively reached an agreement with the IRS regarding SCE’s percentage repair allowance deduction, which if finalized, would result in a federal tax liability of approximately $16 million, including interest through June 30, 2015. The IRS also proposed an adjustment for 2008 and 2009 to disallow deductions related to certain capitalized overhead expenses. If this adjustment were sustained, it would result in a federal tax liability of approximately $123 million, including interest through June 30, 2015. Edison International disagrees with the proposed adjustment and has appealed.

Tax Years 2010 – 2012

The IRS Revenue Agent Report was received in June 2015. As a result, Edison International and SCE have re-measured its Federal and State uncertain tax positions and recorded $94 million and $100 million, respectively, of income tax benefits including interest and penalty during the second quarter of 2015. The Revenue Agent Report included a proposed adjustment to disallow deductions related to certain capitalized overhead expenses. If this adjustment is sustained, it would result in a federal tax liability of approximately $99 million, including interest through June 30, 2015. Edison International disagrees with the proposed adjustment and plans to appeal. SCE has agreed to the remaining proposed adjustments in the Revenue Agent Report.

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Investments

6 Months Ended

Jun. 30, 2015

Regulated Entity, Other Assets, Noncurrent [Abstract]

Investments

Investments

Nuclear Decommissioning Trusts

Future decommissioning costs related to SCE's nuclear assets are expected to be funded from independent decommissioning trusts.

The following table sets forth amortized cost and fair value of the trust investments:

	Longest Maturity Dates	Amortized Cost				Fair Value
(in millions)		June 30, 2015		December 31, 2014		June 30, 2015		December 31, 2014
Stocks	—	$	560	$	524	$	2,084	$	2,031
Municipal bonds	2054	705		681		826		822
U.S. government and agency securities	2045	1,116		777		1,173		836
Corporate bonds	2057	591		346		637		395
Short-term investments and receivables/payables1	One-year	113		692		116		715
Total		$	3,085	$	3,020	$	4,836	$	4,799

¹ Short-term investments include $140 million of repurchase agreements payable by financial institutions which earn interest, are fully secured by U.S. Treasury securities and mature by July 8, 2015.

Trust fund earnings (based on specific identification) increase the trust fund balance and the ARO regulatory liability. Proceeds from sales of securities (which are reinvested) were $4.4 billion and $2.2 billion for the three months ended June 30, 2015 and 2014, respectively, and $7.3 billion and $3.8 billion for the six months ended June 30, 2015 and 2014, respectively. Unrealized holding gains, net of losses, were $1.8 billion at both June 30, 2015 and December 31, 2014.

The following table sets forth a summary of changes in the fair value of the trust:

	Three months ended June 30,						Six months ended June 30,
(in millions)	2015			2014			2015			2014
Balance at beginning of period	$	4,896		$	4,587		$	4,799		$	4,494
Gross realized gains	5			28			32			38
Gross realized losses	(3		)	—			(5		)	—
Unrealized (losses) gains, net	(71		)	107			(27		)	169
Other-than-temporary impairments	(8		)	(3		)	(12		)	(6		)
Interest and dividends	32			33			60			62
Contributions	—			—			7			5
Income taxes	(14		)	(11		)	(14		)	(19		)
Administrative expenses and other	(1		)	(1		)	(4		)	(3		)
Balance at end of period	$	4,836		$	4,740		$	4,836		$	4,740

Trust assets are used to pay income taxes as the Trust files separate income taxes returns from SCE. Deferred income taxes related to unrealized gains at June 30, 2015 were $427 million. Accordingly, the fair value of Trust assets available to pay future decommissioning costs, net of deferred income taxes, totaled $4.4 billion at June 30, 2015. Due to regulatory mechanisms, changes in assets of the trusts from income items have no impact on operating revenue or earnings.

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Supplemental Cash Flows Information (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash payments for interest and taxes:
Interest, net of amounts capitalized	$ 230	$ 226
Tax payments (refunds), net	3	189
Dividends declared but not paid:
Pollution-control bonds redeemed (2.875%)	(203)	0
Pollution-control bonds issued (1.875%)	203	0
Common stock
Dividends declared but not paid:
Dividends declared but not paid	136	116
Preferred and preference stock
Dividends declared but not paid:
Dividends declared but not paid	18	18
Southern California Edison
Cash payments for interest and taxes:
Interest, net of amounts capitalized	222	225
Tax payments (refunds), net	125	14
Dividends declared but not paid:
Pollution-control bonds redeemed (2.875%)	(203)	0
Pollution-control bonds issued (1.875%)	203	0
Accrued capital expenditures	393	451
Reduction in lease obligation	$ 147
Southern California Edison | 2.875% Pollution-Control Bonds
Dividends declared but not paid:
Debt interest rate	2.875%
Southern California Edison | 1.875% Pollution-Control Bonds Due in 2029
Dividends declared but not paid:
Debt Conversion, Converted Instrument, Rate	1.875%
Southern California Edison | Common stock
Dividends declared but not paid:
Dividends declared but not paid	$ 147	126
Southern California Edison | Preferred and preference stock
Dividends declared but not paid:
Dividends declared but not paid	$ 18	$ 18

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Interest and Other Income and Other Expenses (Tables)

6 Months Ended

Jun. 30, 2015

Other Income and Expenses [Abstract]

Interest and Other Income and Expenses

Interest and other income and other expenses are as follows:

	Three months ended June 30,				Six months ended June 30,
(in millions)	2015		2014		2015		2014
SCE interest and other income:
Equity allowance for funds used during construction	$	21	$	15	$	42	$	28
Generator settlements	—		14		—		14
Increase in cash surrender value of life insurance policies and life insurance benefits	7		12		17		18
Interest income	2		3		3		5
Other	1		2		2		4
Total SCE interest and other income	31		46		64		69
Other income of Edison International Parent and Other	12		—		18		—
Total Edison International interest and other income	$	43	$	46	$	82	$	69
SCE other expenses:
Civic, political and related activities and donations	$	9	$	9	$	14	$	13
Other	8		6		10		10
Total SCE other expenses	17		15		24		23
Other expense of Edison International Parent and Other	—		1		—		—
Total Edison International other expenses	$	17	$	16	$	24	$	23

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Compensation and Benefit Plans (Expense Components) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract]
Service cost	$ 12	$ 11	$ 24	$ 22
Interest cost	28	27	57	54
Expected return on plan assets	(29)	(28)	(57)	(56)
Amortization of prior service cost	(3)	(9)	(6)	(18)
Amortization of net loss	6	0	12	0
Expense under accounting standards	14	1	30	2
Pension Plans
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract]
Service cost	35	29	70	59
Interest cost	42	48	83	93
Expected return on plan assets	(57)	(60)	(114)	(117)
Amortization of prior service cost	1	2	2	3
Amortization of net loss	9	1	18	2
Expense under accounting standards	30	20	59	40
Regulatory adjustment	(2)	30	(3)	61
Total expense recognized	28	50	56	101
Net loss reclassified	4	1	7	3
Southern California Edison
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract]
Service cost	12	11	24	22
Interest cost	28	27	56	54
Expected return on plan assets	(28)	(28)	(56)	(56)
Amortization of prior service cost	(3)	(9)	(6)	(18)
Amortization of net loss	5	0	11	0
Expense under accounting standards	14	1	29	2
Southern California Edison | Pension Plans
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract]
Service cost	34	29	69	58
Interest cost	37	44	75	88
Expected return on plan assets	(54)	(56)	(107)	(112)
Amortization of prior service cost	2	1	3	2
Amortization of net loss	8	1	15	1
Expense under accounting standards	27	19	55	37
Regulatory adjustment	(1)	30	(2)	61
Total expense recognized	26	49	53	98
Net loss reclassified	$ 2	$ 1	$ 4	$ 2

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Discontinued Operations

6 Months Ended

Jun. 30, 2015

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

Discontinued Operations

EME Chapter 11 Bankruptcy

In December 2012, EME and certain of its wholly-owned subsidiaries filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Northern District of Illinois, Eastern Division. The Amended Plan of Reorganization, including the EME Settlement Agreement, was completed on April 1, 2014 with the sale of substantially all of EME's assets to NRG Energy, Inc. and the transactions called for in the EME Settlement Agreement, including an initial cash payment to the Reorganization Trust of $225 million in April 2014. For further discussion of the EME Settlement Agreement, see the 2014 Form 10-K, "Notes to Consolidated Financial Statements—Note 15."

In August 2014, Edison International entered into an amendment of the EME Settlement Agreement that finalized the remaining matters related to the EME Settlement including setting the amount of the two installment payments at $204 million due on September 30, 2015 and $214 million due on September 30, 2016.

Income from discontinued operations, net of tax, was $184 million and $162 million for the three and the six months ended June 30, 2014, respectively.

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Variable Interest Entities Trust income (Tables)

6 Months Ended

Jun. 30, 2015

Southern California Edison

Variable Interest Entity

Summary of Trusts' Income Statements

The following table provides a summary of the trusts' income statements:

	Three months ended June 30,						Six months ended June 30,
(in millions)	Trust I		Trust II		Trust III		Trust I		Trust II		Trust III
2015
Dividend income	$	6	$	5	$	4	$	13	$	10	$	8
Dividend distributions	6		5		4		13		10		8
2014
Dividend income	$	6	$	5	$	4	$	13	$	10	$	5
Dividend distributions	6		5		4		13		10		5

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Income Taxes (Tax Rate Reconciliation) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Effective Tax Rate
Income from continuing operations before income taxes	$ 412	$ 466	$ 837	$ 671
Provision for income tax at federal statutory rate of 35%	144	164	293	235
State tax, net of federal benefit	5	6	16	7
Property-related	(69)	(55)	(129)	(106)
Change related to uncertain tax positions	(77)	(21)	(62)	(14)
San Onofre OII settlement	0	0	0	(40)
Other	3	(10)	(5)	(17)
Total income tax expense from continuing operations	$ 6	$ 84	$ 113	$ 65
Effective tax rate	1.50%	18.00%	13.50%	9.70%
Federal statutory rate			35.00%
Southern California Edison
Effective Tax Rate
Income from continuing operations before income taxes	$ 419	$ 490	$ 860	$ 712
Provision for income tax at federal statutory rate of 35%	147	171	301	249
State tax, net of federal benefit	2	9	16	10
Property-related	(69)	(55)	(129)	(106)
Change related to uncertain tax positions	(75)	(17)	(65)	(10)
San Onofre OII settlement	0	0	0	(40)
Other	2	(10)	(8)	(17)
Total income tax expense from continuing operations	$ 7	$ 98	$ 115	$ 86
Effective tax rate	1.70%	20.00%	13.40%	12.10%
Federal statutory rate			35.00%

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Fair Value Measurements (Fair Value by Level) (Details) - USD ($) $ in Millions	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013
Assets at fair value
Nuclear decommissioning trusts	$ 4,836		$ 4,799
Liabilities at fair value
Money market funds	56		35
Southern California Edison
Assets at fair value
Nuclear decommissioning trusts	$ 4,836	$ 4,896	$ 4,799	$ 4,740	$ 4,587	$ 4,494
Liabilities at fair value
Percentage of equity investments located in the United States (as a percent)	72.00%		73.00%
Collateralized mortgage obligations and other asset backed securities	$ 162		$ 49
Payables, net, related to investments	55		57
Money market funds	26		5
Southern California Edison | Fair Value, Measurements, Recurring
Liabilities at fair value
Liability offset	(29)		(61)
Asset offset	29		61
Southern California Edison | Fair Value, Measurements, Recurring | Level 1
Assets at fair value
Derivative contracts	0		0
Other	46		33
Nuclear decommissioning trusts	3,139		3,340
Total assets	3,185		3,373
Liabilities at fair value
Derivative contracts	0		0
Total liabilities	0		0
Net assets (liabilities)	3,185		3,373
Southern California Edison | Fair Value, Measurements, Recurring | Level 1 | Stocks
Assets at fair value
Nuclear decommissioning trusts	2,084		2,031
Southern California Edison | Fair Value, Measurements, Recurring | Level 1 | Fixed income
Assets at fair value
Nuclear decommissioning trusts	1,029		703
Southern California Edison | Fair Value, Measurements, Recurring | Level 1 | Short-term investments, primarily cash equivalents
Assets at fair value
Nuclear decommissioning trusts	26		606
Southern California Edison | Fair Value, Measurements, Recurring | Level 2
Assets at fair value
Derivative contracts	0		0
Other	0		0
Nuclear decommissioning trusts	1,752		1,516
Total assets	1,752		1,516
Liabilities at fair value
Derivative contracts	29		86
Total liabilities	29		86
Net assets (liabilities)	1,723		1,430
Southern California Edison | Fair Value, Measurements, Recurring | Level 2 | Stocks
Assets at fair value
Nuclear decommissioning trusts	0		0
Southern California Edison | Fair Value, Measurements, Recurring | Level 2 | Fixed income
Assets at fair value
Nuclear decommissioning trusts	1,607		1,350
Southern California Edison | Fair Value, Measurements, Recurring | Level 2 | Short-term investments, primarily cash equivalents
Assets at fair value
Nuclear decommissioning trusts	145		166
Southern California Edison | Fair Value, Measurements, Recurring | Level 3
Assets at fair value
Derivative contracts	273		321
Other	0		0
Nuclear decommissioning trusts	0		0
Total assets	273		321
Liabilities at fair value
Derivative contracts	1,317		1,223
Total liabilities	1,317		1,223
Net assets (liabilities)	(1,044)		(902)
Southern California Edison | Fair Value, Measurements, Recurring | Level 3 | Stocks
Assets at fair value
Nuclear decommissioning trusts	0		0
Southern California Edison | Fair Value, Measurements, Recurring | Level 3 | Fixed income
Assets at fair value
Nuclear decommissioning trusts	0		0
Southern California Edison | Fair Value, Measurements, Recurring | Level 3 | Short-term investments, primarily cash equivalents
Assets at fair value
Nuclear decommissioning trusts	0		0
Southern California Edison | Fair Value, Measurements, Recurring | Total
Assets at fair value
Derivative contracts	273		321
Other	46		33
Nuclear decommissioning trusts	4,891		4,856
Total assets	5,210		5,210
Liabilities at fair value
Derivative contracts	1,317		1,248
Total liabilities	1,317		1,248
Net assets (liabilities)	3,893		3,962
Southern California Edison | Fair Value, Measurements, Recurring | Total | Stocks
Assets at fair value
Nuclear decommissioning trusts	2,084		2,031
Southern California Edison | Fair Value, Measurements, Recurring | Total | Fixed income
Assets at fair value
Nuclear decommissioning trusts	2,636		2,053
Southern California Edison | Fair Value, Measurements, Recurring | Total | Short-term investments, primarily cash equivalents
Assets at fair value
Nuclear decommissioning trusts	$ 171		$ 772

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Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Receivables, allowances for uncollectible accounts (in dollars)	$ 68	$ 68
Utility property, plant and equipment, accumulated depreciation (in dollars)	8,141	8,132
Nonutility property, plant and equipment, accumulated depreciation (in dollars)	$ 79	$ 76
Common stock, no par value (in dollars per share)	$ 0	$ 0
Common stock, shares authorized	800,000,000	800,000,000
Common stock, shares issued	325,811,206	325,811,206
Common stock, shares outstanding	325,811,206	325,811,206
Southern California Edison
Receivables, allowances for uncollectible accounts (in dollars)	$ 68	$ 68
Utility property, plant and equipment, accumulated depreciation (in dollars)	8,141	8,132
Nonutility property, plant and equipment, accumulated depreciation (in dollars)	$ 76	$ 75
Common stock, no par value (in dollars per share)	$ 0	$ 0
Common stock, shares authorized	560,000,000	560,000,000
Common stock, shares issued	434,888,104	434,888,104
Common stock, shares outstanding	434,888,104	434,888,104

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Variable Interest Entities

6 Months Ended

Jun. 30, 2015

Variable Interest Entities Disclosure [Abstract]

Variable Interest Entities

Variable Interest Entities

A VIE is defined as a legal entity that meets one of two conditions: (1) the equity owners do not have sufficient equity at risk, or (2) the holders of the equity investment at risk, as a group, lack any of the following three characteristics: decision-making rights, the obligation to absorb losses, or the right to receive the expected residual returns of the entity. The primary beneficiary is identified as the variable interest holder that has both the power to direct the activities of the VIE that most significantly impact the entity's economic performance and the obligation to absorb losses or the right to receive benefits from the entity that could potentially be significant to the VIE. The primary beneficiary is required to consolidate the VIE. A subsidiary of Edison International is the primary beneficiary of an entity that owns rooftop solar projects. Commercial and operating activities are generally the factors that most significantly impact the economic performance of such VIEs. Commercial and operating activities include construction, operation and maintenance, fuel procurement, dispatch and compliance with regulatory and contractual requirements.

Variable Interest in VIEs that are not Consolidated

Power Purchase Contracts

SCE has power purchase agreements ("PPAs") that are classified as variable interests in VIEs, including tolling agreements through which SCE provides the natural gas to fuel the plants and contracts with qualifying facilities ("QFs") that contain variable pricing provisions based on the price of natural gas. SCE has concluded that it is not the primary beneficiary of these VIEs since it does not control the commercial and operating activities of these entities. Since payments for capacity are the primary source of income, the most significant economic activity for these VIEs is the operation and maintenance of the power plants.

As of the balance sheet date, the carrying amount of assets and liabilities in SCE's consolidated balance sheet that relate to its involvement with VIEs result from amounts due under the PPAs or the fair value of those derivative contracts. Under these contracts, SCE recovers the costs incurred through demonstration of compliance with its CPUC-approved long-term power procurement plans. SCE has no residual interest in the entities and has not provided or guaranteed any debt or equity support, liquidity arrangements, performance guarantees or other commitments associated with these contracts other than the purchase commitments described in Note 11 of the 2014 Form 10-K. As a result, there is no significant potential exposure to loss to SCE from its variable interest in these VIEs. The aggregate contracted capacity dedicated to SCE from these VIE projects was 4,125 MW and 5,341 MW at June 30, 2015 and 2014, respectively, and the amounts that SCE paid to these projects were $78 million and $93 million for the three months ended June 30, 2015 and 2014, respectively, and $181 million and $207 million for the six months ended June 30, 2015 and 2014, respectively. These amounts are recoverable in customer rates, subject to reasonableness review.

Unconsolidated Trusts of SCE

SCE Trust I, Trust II and Trust III were formed in 2012, 2013 and 2014, respectively, for the exclusive purpose of issuing the 5.625%, 5.10% and 5.75% trust preference securities, respectively ("trust securities"). The trusts are VIEs. SCE has concluded that it is not the primary beneficiary of these VIEs as it does not have the obligation to absorb the expected losses or the right to receive the expected residual returns of the trusts. SCE Trust I, Trust II and Trust III issued trust securities in the face amounts of $475 million, $400 million and $275 million, respectively, (cumulative, liquidation amounts of $25 per share) to the public and $10,000 of common stock each to SCE. The trusts invested the proceeds of these trust securities in Series F, Series G and Series H Preference Stock issued by SCE in the principal amounts of $475 million, $400 million and $275 million (cumulative, $2,500 per share liquidation values), respectively, which have substantially the same payment terms as the respective trust securities.

The Series F, Series G and Series H Preference Stock and the corresponding trust securities do not have a maturity date. Upon any redemption of any shares of the Series F, Series G or Series H Preference Stock, a corresponding dollar amount of trust securities will be redeemed by the applicable trust. The applicable trust will make distributions at the same rate and on the same dates on the applicable series of trust securities when and if the SCE board of directors declares and makes dividend payments on the Series F, Series G or Series H Preference Stock. The applicable trust will use any dividends it receives on the Series F, Series G or Series H Preference Stock to make its corresponding distributions on the applicable series of trust securities. If SCE does not make a dividend payment to any of these trusts, SCE would be prohibited from paying dividends on its common stock. SCE has fully and unconditionally guaranteed the payment of the trust securities and trust distributions, if and when SCE pays dividends on the Series F, Series G and Series H Preference Stock.

The Trust I, Trust II and Trust III balance sheets as of June 30, 2015 and December 31, 2014, consisted of investments of $475 million, $400 million and $275 million in the Series F, Series G and Series H Preference Stock, respectively, $475 million, $400 million and $275 million of trust securities, respectively, and $10,000 each of common stock.

The following table provides a summary of the trusts' income statements:

	Three months ended June 30,						Six months ended June 30,
(in millions)	Trust I		Trust II		Trust III		Trust I		Trust II		Trust III
2015
Dividend income	$	6	$	5	$	4	$	13	$	10	$	8
Dividend distributions	6		5		4		13		10		8
2014
Dividend income	$	6	$	5	$	4	$	13	$	10	$	5
Dividend distributions	6		5		4		13		10		5

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Regulatory Assets and Liabilities (Regulatory Balancing Accounts) (Details) - Southern California Edison - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Regulatory balancing accounts | Energy resource recovery account
Regulatory Assets and Liabilities
Net liability	$ 543	$ 1,028
Regulatory balancing accounts | New system generation balancing account
Regulatory Assets and Liabilities
Net liability	(139)	35
Refunds of excess revenue | Significant Components
Regulatory Assets and Liabilities
Net liability	(469)	(331)
Refunds of excess revenue | Public purpose programs and energy efficiency programs
Regulatory Assets and Liabilities
Net liability	(752)	(874)
Refunds of excess revenue | Base rate recovery balancing account
Regulatory Assets and Liabilities
Net liability	74	(5)
Refunds of excess revenue | Greenhouse gas auction revenue
Regulatory Assets and Liabilities
Net liability	(145)	(182)
Refunds of excess revenue | FERC balancing accounts
Regulatory Assets and Liabilities
Net liability	44	(32)
Refunds of excess revenue | Generator settlements
Regulatory Assets and Liabilities
Net liability	(3)	(197)
Refunds of excess revenue | Other
Regulatory Assets and Liabilities
Net liability	$ (91)	$ (104)

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Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2015

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Carrying Amounts and Fair Values of Long-term Debt, Including Current Portion

The carrying value and fair value of Edison International's and SCE's long-term debt (including current portion of long-term debt) are as follows:

	June 30, 2015				December 31, 2014
(in millions)	Carrying Value		Fair Value		Carrying Value		Fair Value
SCE	$	10,654	$	11,569	$	9,924	$	11,479
Edison International	11,469		12,406		10,738		12,319

Southern California Edison

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Fair Value by Level

The following table sets forth assets and liabilities of SCE that were accounted for at fair value by level within the fair value hierarchy:

	June 30, 2015
(in millions)	Level 1		Level 2		Level 3			Netting and Collateral1			Total
Assets at fair value
Derivative contracts	$	—	$	—	$	273		$	—		$	273
Other	46		—		—			—			46
Nuclear decommissioning trusts:
Stocks2	2,084		—		—			—			2,084
Fixed Income3	1,029		1,607		—			—			2,636
Short-term investments, primarily cash equivalents	26		145		—			—			171
Subtotal of nuclear decommissioning trusts4	3,139		1,752		—			—			4,891
Total assets	3,185		1,752		273			—			5,210
Liabilities at fair value
Derivative contracts	—		29		1,317			(29		)	1,317
Total liabilities	—		29		1,317			(29		)	1,317
Net assets (liabilities)	$	3,185	$	1,723	$	(1,044	)	$	29		$	3,893

	December 31, 2014
(in millions)	Level 1		Level 2		Level 3			Netting and Collateral1			Total
Assets at fair value
Derivative contracts	$	—	$	—	$	321		$	—		$	321
Other	33		—		—			—			33
Nuclear decommissioning trusts:
Stocks2	2,031		—		—			—			2,031
Fixed Income3	703		1,350		—			—			2,053
Short-term investments, primarily cash equivalents	606		166		—			—			772
Subtotal of nuclear decommissioning trusts4	3,340		1,516		—			—			4,856
Total assets	3,373		1,516		321			—			5,210
Liabilities at fair value
Derivative contracts	—		86		1,223			(61		)	1,248
Total liabilities	—		86		1,223			(61		)	1,248
Net assets (liabilities)	$	3,373	$	1,430	$	(902	)	$	61		$	3,962

¹  Represents the netting of assets and liabilities under master netting agreements and cash collateral across the levels of the fair value hierarchy. Netting among positions classified within the same level is included in that level.

²  Approximately 72% and 73% of SCE's equity investments were located in the United States at June 30, 2015 and December 31, 2014, respectively.

³  Includes corporate bonds, which were diversified and included collateralized mortgage obligations and other asset backed securities of $162 million and $49 million at June 30, 2015 and December 31, 2014, respectively.

⁴  Excludes net payables of $55 million and net payables of $57 million at June 30, 2015 and December 31, 2014, which consist of interest and dividend receivables as well as receivables and payables related to SCE's pending securities sales and purchases.

Summary of Changes in Fair Value of Level 3 Net Derivative Assets and Liabilities

The following table sets forth a summary of changes in SCE's fair value of Level 3 net derivative assets and liabilities:

	Three months ended June 30,						Six months ended June 30,
(in millions)	2015			2014			2015			2014
Fair value of net liabilities at beginning of period	$	(976	)	$	(773	)	$	(902	)	$	(805	)
Total realized/unrealized gains (losses):
Included in regulatory assets and liabilities1	(68		)	(108		)	(142		)	(77		)
Purchases	—			8			—			15
Settlements	—			(5		)	—			(11		)
Fair value of net liabilities at end of period	$	(1,044	)	$	(878	)	$	(1,044	)	$	(878	)
Change during the period in unrealized gains and losses related to assets and liabilities held at the end of the period	$	(65	)	$	(116	)	$	(148	)	$	(84	)

¹  Due to regulatory mechanisms, SCE's realized and unrealized gains and losses are recorded as regulatory assets and liabilities.

Valuation Techniques and Significant Unobservable Inputs Used to Determine Fair Value for Level 3 Assets and Liabilities

The following table sets forth SCE's valuation techniques and significant unobservable inputs used to determine fair value for significant Level 3 assets and liabilities:

	Fair Value (in millions)					Significant	Range
	Assets		Liabilities		Valuation Technique(s)	Unobservable Input	(Weighted Average)
Congestion revenue rights
June 30, 2015	$	261	$	—	Market simulation model	Load forecast	7,630 MW - 25,431 MW
						Power prices1	$1.65 - $109.95
						Gas prices2	$3.65 - $6.53
December 31, 2014	317		—		Market simulation model	Load forecast	7,630 MW - 25,431 MW
						Power prices1	$1.65 - $109.95
						Gas prices2	$3.65 - $6.53
Tolling
June 30, 2015	6		1,316		Option model	Volatility of gas prices	15% - 42% (20%)
						Volatility of power prices	26% - 96% (30%)
						Power prices	$30.62 - $54.60 ($39.50)
December 31, 2014	4		1,207		Option model	Volatility of gas prices	13% - 53% (20%)
						Volatility of power prices	25% - 42% (30%)
						Power prices	$30.60 - $61.40 ($44.60)

¹  Prices are in dollars per megawatt-hour.

²  Prices are in dollars per million British thermal units.

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Summary of Significant Accounting Policies (Earnings Per Share) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Basic earnings per share – continuing operations:
Income from continuing operations attributable to common shareholders	$ 379	$ 352	$ 678	$ 550
Participating securities dividends	0	0	0	0
Income from continuing operations available to common shareholders	$ 379	$ 352	$ 678	$ 550
Weighted average common shares outstanding (in shares)	326,000,000	326,000,000	326,000,000	326,000,000
Basic earnings per share – continuing operations (in dollars per share)	$ 1.16	$ 1.08	$ 2.08	$ 1.69
Diluted earnings per share – continuing operations:
Income from continuing operations attributable to common shareholders	$ 379	$ 352	$ 678	$ 550
Income impact of assumed conversions	0	1	0	1
Income from continuing operations available to common shareholders and assumed conversions	$ 379	$ 353	$ 678	$ 551
Weighted average common shares outstanding (in shares)	326,000,000	326,000,000	326,000,000	326,000,000
Incremental shares from assumed conversions (in shares)	2,000,000	3,000,000	3,000,000	3,000,000
Adjusted weighted average shares - diluted (in shares)	328,000,000	329,000,000	329,000,000	329,000,000
Diluted earnings per share – continuing operations (in dollars per share)	$ 1.15	$ 1.07	$ 2.06	$ 1.68
Stock-Based Compensation Awards
Diluted earnings per share – continuing operations:
Stock-based compensation awards excluded from the computation of diluted earnings per share (in shares)	1,981,596	45,951	1,981,596	96,341

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Interest and Other Income and Other Expenses

6 Months Ended

Jun. 30, 2015

Other Income and Expenses [Abstract]

Interest and Other Income and Other Expenses

Interest and Other Income and Other Expenses

Interest and other income and other expenses are as follows:

	Three months ended June 30,				Six months ended June 30,
(in millions)	2015		2014		2015		2014
SCE interest and other income:
Equity allowance for funds used during construction	$	21	$	15	$	42	$	28
Generator settlements	—		14		—		14
Increase in cash surrender value of life insurance policies and life insurance benefits	7		12		17		18
Interest income	2		3		3		5
Other	1		2		2		4
Total SCE interest and other income	31		46		64		69
Other income of Edison International Parent and Other	12		—		18		—
Total Edison International interest and other income	$	43	$	46	$	82	$	69
SCE other expenses:
Civic, political and related activities and donations	$	9	$	9	$	14	$	13
Other	8		6		10		10
Total SCE other expenses	17		15		24		23
Other expense of Edison International Parent and Other	—		1		—		—
Total Edison International other expenses	$	17	$	16	$	24	$	23

SCE has participated in proceedings seeking recovery of refunds from sellers of electricity and natural gas who manipulated the electric and natural gas markets during the energy crisis in California in 2000 – 2011. SCE is authorized to refund to customers any refunds actually realized by SCE, net of litigation costs and amounts retained by SCE as a shareholder incentive pursuant to an established sharing arrangement. During the second quarter of 2014, FERC approved generator refund settlement agreements which resulted in total refunds to customers of $208 million of which $14 million is subject to the shareholder incentive.

Edison Capital continues to wind down its remaining affordable housing investments. Edison International other income reflects Edison Capital's income related to the sale of affordable housing projects.