filings.toolsEdison International (EIX) 10-K risk factor changes: FY2022 vs FY2021
The 2022-12-31 10-K against the 2021-12-31 one, compared heading by heading and sentence by sentence.
All filing items1,734 rewritten850 added663 removed2,913 unchanged
Summary
counted, not written
- Item 1A headings could not be compared: the parser did not find an Item 1A in both filings.
- Sentence by sentence, 850 added, 663 removed, 1,734 rewritten and 2,913 unchanged across 2 items that differ.
Sentences by item
2 items, with every count and a link to each item that changed
| Item | Added | Removed | Rewritten | Unchanged |
|---|---|---|---|---|
| Cover and table of contents | 828 | 611 | 1,600 | 2,701 |
| Item 6. Reserved. | 22 | 52 | 134 | 212 |
Underlined words on a shaded ground are new in FY2022; struck-through words were in FY2021. Sentences that are wholly new or wholly gone are labelled rather than marked.
Cover and table of contents
1,600 rewritten, 828 added, 611 removed, 2,701 unchanged
| For the fiscal year ended | December 31, [removed: 2021] [added: 2022] |
Aggregate market value of voting and non-voting common equity held by non-affiliates of the registrants as of June 30, [removed: 2021,] [added: 2022,] the last business day of the most recently completed second fiscal quarter:
| Edison International | | Approximately [removed: $22] [added: $24] billion | | Southern California Edison Company | | Wholly owned by Edison International |
Common Stock outstanding as of February [removed: 17, 2022:][added: 16, 2023:]
Designated portions of the Edison International Proxy Statement relating to Edison International's [removed: 2022] [added: 2023] Annual Meeting of Shareholders are incorporated by reference into Part III of this report.
| [RESULTS OF OPERATIONS](#RESULTSOFOPERATIONS_760206) | [removed: 12] [added: 13] | |
| [Southern California Edison Company](#SCE_961609) | [removed: 12] [added: 13] | |
| [Years ended December 31, [removed: 2021, 2020] [added: 2022, 2021] and [removed: 2019](#YearsendedDecember3120192018and2017_9295)] [added: 2020](#YearsendedDecember3120192018and2017_9295)] | 14 | |
| [Available Liquidity](#AvailableLiquidity_46975) | [removed: 19] [added: 18] | |
| [Regulatory Proceedings](#RegulatoryProceedings) | [removed: 19] [added: 18] | |
| [Capital Investment Plan](#CapitalInvestmentPlan_791077) | [removed: 23] [added: 22] | |
| [Decommissioning of San Onofre](#DecommissioningofSanOnofre_356683) | [removed: 25] [added: 23] | |
| [SCE Dividends](#SCEDividends_383696) | [removed: 26] [added: 25] | |
| [Margin and Collateral Deposits](#MarginandCollateralDeposits_676543) | [removed: 27] [added: 26] | |
| [Edison International Parent and Other](#EdisonInternationalParentandOther_394594) | [removed: 28] [added: 27] | |
[removed: | [Net] [added: _Net] Operating Loss and Tax Credit [removed: Carryforwards](#NetOperatingLossandTaxCreditCarryforward) | 29 | |][added: Carryforwards_]
| [Edison International Parent and Other](#EdisonInternationalParentandOther_941267) | [removed: 33] [added: 32] | |
| [Contractual Obligations and Contingencies](#ContractualObligationsandContingencies_6) | [removed: 34] [added: 33] | |
| [Contractual Obligations](#ContractualObligations_35468) | [removed: 34] [added: 33] | |
| [Contingencies](#Contingencies_29682) | [removed: 35] [added: 34] | |
| [Off-Balance Sheet Arrangements](#OffBalanceSheetArrangements_355436) | [removed: 35] [added: 34] | |
| [MARKET RISK EXPOSURES](#MARKETRISKEXPOSURES_622324) | [removed: 35] [added: 34] | |
| [Interest Rate Risk](#InterestRateRisk_231870) | [removed: 35] [added: 34] | |
| [Commodity Price Risk](#CommodityPriceRisk_176302) | [removed: 36] [added: 34] | |
| [CRITICAL ACCOUNTING ESTIMATES AND [removed: POLICIES](#CRITICALACCOUNTINGESTIMATESANDPOLICIES_1)] [added: POLICIES](#CRITICALACCOUNTINGESTIMATESANDPOLICIES)] | [removed: 37] [added: 36] | |
| [Rate Regulated Enterprises](#RateRegulatedEnterprises_143443) | [removed: 37] [added: 38] | |
| [Accounting for Contingencies](#AccountingforContingencies_398264) | [removed: 37] [added: 36] | |
| [Financing Risks](#FinancingRisks_185602) | [removed: 50] [added: 51] | |
| [Competitive and Market Risks](#CompetitiveandMarketRisks_228084) | [removed: 51] [added: 52] | |
| [Cybersecurity and Physical Security Risks](#CybersecurityandPhysicalSecurityRisks_23) | [removed: 51] [added: 52] | |
| [RISKS RELATING TO EDISON INTERNATIONAL AND SOUTHERN CALIFORNIA EDISON COMPANY](#RIskstoEIXandSCE) | [removed: 52] [added: 53] | |
| [QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK](#QUANTITATIVEANDQUALITATIVEDISCLOSURESABO) | [removed: 53] [added: 54] | Part II, Item 7A |
| [FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA](#FINANCIALSTATEMENTSANDSUPPLEMENTARYDATA_) | [removed: 53] [added: 54] | Part II, Item 8 |
| [REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM (PCAOB [removed: ID](#REPORTOFINDEPENDENTREGISTEREDPUBLICACCOU)] [added: ID](#RIRPublicACCFirmEdison)] 238) | [removed: 54] [added: 55] | |
| [REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM (PCAOB [removed: ID](#ReportofIndependentregisteredPASCE)] [added: ID](#RIRPublicACCFirmSCE)] 238) | [removed: 58] [added: 59] | |
| [Note 2. Property, Plant and Equipment](#Note2PropertyPlantandEquipment_299817) | [removed: 86] [added: 87] | |
| [Note 4. Fair Value Measurements](#Note4FairValueMeasurements_325322) | [removed: 89] [added: 90] | |
| [Note 7. Revenue](#Note7Revenue_57751) | [removed: 97] [added: 98] | |
| [Note 8. Income Taxes](#Note8IncomeTaxes_906042) | [removed: 98] [added: 99] | |
| [Note 10. Investments](#Note10Investments_640732) | [removed: 116] [added: 117] | |
If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements.
| Edison International | | ☐ | | Southern California Edison Company | | ☐ |
Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).
| Edison International | | ☐ | | Southern California Edison Company | | ☐ |
| Edison International | | 382,566,466 | | shares |
| [2025 General Rate Case](#GeneralRateCase2025) | 7 | |
| [Cost of Capital Applications](#CostofCapitalApplications) | 8 | |
| [Upstream Lighting Program](#UpstreamLightingProgram) | 12 | |
| [Edison International Income Taxes](#EdisonInternationalIncomeTaxes) | 28 | |
| [Investment Price Risk](#InvestmentPriceRisk) | 35 | |
| [Public Safety Power Shutoffs](#PublicSafetyPowerShutoffs) | 158 | |
| Capistrano Wind | a group of wind projects referred to as Capistrano Wind |
| DGC | the decommissioning general contractor engaged by SCE to undertake a significant scope of decommissioning activities at San Onofre |
| IRA | Inflation Reduction Act of 2022 |
| MW | megawatts |
| NSGBA | New System Generation Balancing Account |
| Post–2018 Wildfires | Collectively, all the wildfires that originated in Southern California after 2018 where SCE’s equipment may be alleged to be associated with the fire’s ignition |
| ● | decisions and other actions by the CPUC, the FERC, the NRC and other governmental authorities, including decisions and actions related to nationwide or statewide crisis, determinations of authorized rates of return or return |
| ● | changes in interest rates and potential adjustments to SCE's ROE based on changes in Moody's utility bond rate index; |
| ● | changes in rates of inflation (including whether inflation-related adjustments to SCE's authorized revenues allowed by the public utility regulators are commensurate with inflation rates); |
| | California's environmental priorities that lessen the importance placed on GHG reduction and other climate related priorities; |
The reports, presentations, documents and information contained on, or connected to, the Edison investor website are not deemed part of, and are not incorporated by reference into, this report.
Unless otherwise described, all the information contained in this report relates to both filers.
| Upstream lighting program decision | | | (81) | | | — | | | (81) | | | — |
| Impairments | | | (64) | | | (79) | | | 15 | | | — |
| Employment litigation matter, net of recoveries | | | (23) | | | — | | | (23) | | | — |
| Organizational realignment charge | | | (14) | | | — | | | (14) | | | — |
| Income tax benefits1 | | | 452 | | | 404 | | | 48 | | | 401 |
| Income tax expense2 | | | (7) | | | (7) | | | — | | | (27) |
| 1 | SCE non-core items are tax‐effected at an estimated statutory rate of approximately 28% |
| 2 | Edison International Parent and Other non-core items are tax-effected at an estimated statutory rate of approximately 28%; customer revenues for EIS insurance contract, net of claims are tax-effected at an estimated statutory rate of approximately 20% |
The increase in SCE's core earnings was primarily due to higher revenue due to the escalation mechanism as set forth in the 2021 GRC final decision and higher return on rate base from capital balancing accounts, partially offset by higher operating and maintenance expenses, higher depreciation from increased plant balance and higher interest expense.
| ● | A charge of $81 million ($64 million after-tax) recorded in 2022 related to the Presiding Officer's Decision ("POD") in September 2022 on SCE's Upstream Lighting Program. See "—Upstream Lighting Program" for further information. |
| ● | Impairment charges of $64 million ($46 million after-tax) recorded in 2022 including an impairment charge of $47 million ($34 million after-tax) related to SCE's CSRP settlement agreement filed with the CPUC in June 2022 and an impairment charge of $17 million ($12 million after-tax) related to historical capital expenditures disallowed in SCE's GRC track 3 final decision. See "Liquidity and Capital Resources—SCE—Regulatory Proceedings" for more information. An impairment charge of $79 million ($47 million after-tax) recorded in 2021 related to disallowed historical capital expenditures in SCE's 2021 GRC final decision. |
| ● | A charge of $23 million ($16 million after-tax) recorded in 2022 related to settlement of an employment litigation matter, net of estimated insurance recoveries. SCE and Edison International settled the matter following an atypical jury award. |
| ● | A charge of $14 million ($10 million after-tax) recorded in 2022 related to organizational realignment services. |
These factors are altering the way in which electricity is generated and delivered as well as the regulatory and business environment for the industry.
banning sales of new gas vehicles by 2035.
SCE is focused on accelerating clean power and electrification, strengthening and modernizing the grid, achieving operational and service excellence and proactively mitigating climate change-related risks, including wildfires.
SCE projects that, even as electricity bills increase over time, due to higher efficiency of electrified end-use technologies, decarbonization and electrification will reduce energy consumption costs for the average family by one-third by 2045.
| | | |
| --- | --- | --- |
| Edison International | | 380,696,945 | | shares |
| [2021 Cost of Capital Application](#CostofCapitalApplication2021) | 7 | |
| [COVID-19](#COVID19) | 9 | |
| [Impact of 2021 GRC](#Impactof2018GRC_863915) | 12 | |
| [Environmental Developments](#EnvironmentalDevelopments_964890) | 35 | |
| CCC | California Coastal Commission |
| DERs | distributed energy resources |
| FHPMA | Fire Hazard Prevention Memorandum Account |
| GS&RP | Grid Safety and Resiliency Program |
| Local Public Entity Settlements | settlements entered into in the fourth quarter of 2019 under which SCE paid $360 million to a number of local public entities to resolve those parties' collective claims arising from the 2017/2018 Wildfire/Mudslide Events |
| ● | changes in interest rates and rates of inflation, including escalation rates (which may be adjusted by public utility regulators); |
| Disallowed historical capital expenditures in SCE's GRC decision | | | (47) | | | — | | | (47) | | | (123) |
such as write downs, asset impairments and other income and expense related to changes in law, outcomes in tax, regulatory or legal proceedings, and exit activities, including sale of certain assets and other activities that are no longer continuing.
The increase in SCE's core earnings was due to higher revenue from the 2021 GRC final decision, higher FERC revenue and income tax benefits from the settlement of 2007 – 2012 California tax audits, partially offset by lower insurance benefits and higher property taxes.
| ● | A gain of $132 million ($96 million after-tax) recorded in 2020 for Edison International Parent and Other's sale of an investment in a lease of a hydroelectric power plant in Vidalia, Louisiana. |
| ● | An impairment charge of $34 million ($25 million after-tax) recorded in 2020 for Edison International Parent and Other related to Edison Energy's goodwill. |
| ● | An income tax benefit of $18 million and income tax expense of $3 million recorded in 2020 for SCE and Edison International Parent and Other, respectively, due to re-measurement of uncertain tax positions related to the 2010 – 2012 California state tax filings. |
Additionally, the state is aiming to be carbon neutral by 2045.
If California is to meet its 2030 and 2045 climate change goals, the state must quadruple its annual rate of greenhouse gas reductions by adopting market-transforming policies and incentives that address historical inequities within the next one to two years.
SCE is focused on improving the safety, reliability and resilience of the transmission and distribution network and enabling increased penetration of DERs, electric transportation, building electrification and energy efficiency programs.
See "—Capital Program" for further details.
The remaining $408 million of operations and maintenance expense includes heat pump incentives, program administration, and implementation costs.
Edison Energy aims to provide energy solutions that address cost, carbon and complex choices for their customers.
SCE filed its application pursuant to the cost of capital mechanism's provision that the utilities have a right to file a cost of capital application at any time upon an extraordinary or catastrophic event that materially impacts their respective cost of capital and/or capital structure and affects them differently than the overall financial markets.
SCE believes the COVID-19 pandemic and accompanying government stimulus efforts constitute such an extraordinary event because they have led to a decrease in interest rates but an increase in SCE and other utilities' cost of equity, disrupting the traditional relationship between debt and equity assumed in adopting the cost of capital mechanism.
In October 2021, the CPUC consolidated SCE's, PG&E's and SDG&E's cost of capital proceedings and ordered the utilities to file all materials that would have normally been required in advice letters filed as a result of triggering the cost of capital mechanism (see "Business—SCE—Overview of Ratemaking Process" for further information on the adjustment mechanism).
SCE provided this information in November 2021.
In December 2021, the CPUC granted SCE's motion to establish a memorandum account to record the difference in the revenue requirements from rates in effect beginning January 1, 2022 and the rates adopted in the proceeding.
In December 2021, the CPUC also set an initial phase for the proceeding to determine whether extraordinary circumstances warrant a departure from the cost of capital mechanism for 2022 and, if so, whether the CPUC should leave the cost of capital components at pre-2022 levels for the year 2022 or open a second phase to consider alternative proposals.
SCE served opening testimony in January 2022 in support of suspending operation of the cost of capital mechanism's formula adjustment mechanism and leaving cost of capital components at pre-2022 levels for 2022.
If the CPUC ultimately finds that the cost of capital mechanism adjustment should have been implemented effective January 1, 2022, SCE's revenue requirements for 2022 would reduce by $179 million due to adjustments to SCE's authorized weighted average cost of capital.
SCE is required to file its regularly scheduled cost of capital application in April 2022 for rates effective in 2023.
| Distribution1 | | $ | 3.6 | | $ | 4.5 | | $ | 3.6 | | $ | 8.1 |
| Subtotal | | | 4.2 | | | 5.1 | | | 4.4 | | | 9.5 |
| Total capital expenditures | | $ | 5.4 | | $ | 6.2 | | $ | 5.5 | | $ | 11.7 |
| 1 | Includes forecast expenditures for utility owned storage. For further information see below. |
These storage projects are expected to result in $1.0 billion of capital expenditures through the anticipated in-service date in the summer of 2022.
SCE's authorized CPUC-jurisdictional rate base is determined through the GRC and other regulatory proceedings.
An excerpt. Shown here: 40 of 1,600 rewritten, 40 of 828 added and 40 of 611 removed. The counts are complete. For every sentence, read Cover and table of contents in the FY2022 filing and the FY2021 filing.
Item 6. Reserved.
134 rewritten, 22 added, 52 removed, 212 unchanged
Schedules [removed: III] [added: II] through V, inclusive, for Edison International are omitted as not required or not applicable.
Schedules I [removed: and III] through V, inclusive, for SCE are omitted as not required or not applicable.
| 3.1 | | [Certificate of Restated Articles of Incorporation of Edison International, effective December 19, 2006, together with all Certificates of Determination of Preference of Preferred Stock issued since December 19, [removed: 2006](https://www.sec.gov/Archives/edgar/data/827052/000082705222000006/eix-20211231ex3138b6890.htm)] [added: 2006 (File No. 1-9936, filed as Exhibit 3.1 to Edison International’s Form 10-K for the year ended December 31, 2021)*](https://www.sec.gov/Archives/edgar/data/92103/000082705222000006/eix-20211231ex3138b6890.htm)] |
| [removed: 3.2] [added: 10.6] | | [removed: [Bylaws of Edison International,] [added: [Edison International 2008 Executive Disability Plan,] as amended [added: and restated] effective [removed: October 25,] [added: April 2,] 2018 (File No. 1-9936, filed as Exhibit No. [removed: 3.1] [added: 10.4] to Edison [removed: International's] [added: International and SCE's] Form 10-Q for the quarter ended [removed: September 30, 2018)*](http://www.sec.gov/Archives/edgar/data/92103/000082705218000151/q3eix10q2018-ex31.htm)] [added: March 31, 2018)*](http://www.sec.gov/Archives/edgar/data/92103/000082705218000115/q1eix10q2018ex104.htm)] |
| [removed: 3.4] [added: 10.4] | | [removed: [Bylaws of Southern] [added: [Southern] California Edison [removed: Company,] [added: Company Executive Retirement Plan,] as amended effective [removed: October 25, 2018] [added: June 19, 2014] (File No. 1-9936, filed as Exhibit [removed: No. 3.2] [added: 10.7] to [added: Edison International and] SCE's Form 10-Q for the quarter ended [removed: September] [added: June] 30, [removed: 2018)*](http://www.sec.gov/Archives/edgar/data/92103/000082705218000151/q3eix10q2018-ex32.htm)] [added: 2014)*](http://www.sec.gov/Archives/edgar/data/827052/000082705214000154/eixq22014ex107.htm)] |
| 4.3 | | [Form of Certificate representing Series A Preferred Stock (included as Exhibit A to Certificate of Determination of the 5.375% Fixed Rate Reset Cumulative Perpetual Preferred Stock Series A) [added: (File No. 1-9936,] filed [removed: with] [added: as] Exhibit 3.1 [removed: hereto](https://www.sec.gov/Archives/edgar/data/827052/000082705222000006/eix-20211231ex3138b6890.htm)] [added: to Edison International’s Form 10-K for the year ended December 31, 2021)*](https://www.sec.gov/Archives/edgar/data/92103/000082705222000006/eix-20211231ex3138b6890.htm)] |
| 4.4 | | [Form of Certificate representing Series B Preferred Stock (included as Exhibit A to Certificate of Determination of the 5.00% Fixed Rate Reset Cumulative Perpetual Preferred Stock Series B) [added: (File No. 1-9936,] filed [removed: with] [added: as] Exhibit 3.1 [removed: hereto](https://www.sec.gov/Archives/edgar/data/827052/000082705222000006/eix-20211231ex3138b6890.htm)] [added: to Edison International’s Form 10-K for the year ended December 31, 2021)*](https://www.sec.gov/Archives/edgar/data/92103/000082705222000006/eix-20211231ex3138b6890.htm)] |
| 10.3 | | [Edison International 2008 Executive Deferred Compensation Plan, as amended and restated effective](http://www.sec.gov/Archives/edgar/data/92103/000082705220000134/a103eix2008execdeferre.htm) [January 1, 202](http://www.sec.gov/Archives/edgar/data/92103/000082705220000134/a103eix2008execdeferre.htm)[1](http://www.sec.gov/Archives/edgar/data/92103/000082705220000134/a103eix2008execdeferre.htm) [(File No. 1-9936, filed as Exhibit No. 10.](http://www.sec.gov/Archives/edgar/data/92103/000082705220000134/a103eix2008execdeferre.htm)[3](http://www.sec.gov/Archives/edgar/data/92103/000082705220000134/a103eix2008execdeferre.htm) [removed: [for] [added: [to Edison International’s Form 10-Q for] the quarter ended Septembe](http://www.sec.gov/Archives/edgar/data/92103/000082705220000134/a103eix2008execdeferre.htm)[r 30, 2020](http://www.sec.gov/Archives/edgar/data/92103/000082705220000134/a103eix2008execdeferre.htm)[)*](http://www.sec.gov/Archives/edgar/data/92103/000082705220000134/a103eix2008execdeferre.htm) |
| [removed: 10.4] [added: 10.4.1] | | [removed: [Executive Grantor Trust Agreement, dated August 1995] [added: [Edison International 2008 Executive Retirement Plan, as amended and restated effective December 8, 2021] (File No. 1-9936, filed as Exhibit [removed: 10.12] [added: 10.5.1] to Edison [removed: International's] [added: International’s] Form 10-K for the year ended December 31, [removed: 1995)*](http://www.sec.gov/Archives/edgar/data/92103/0000092103-96-000024.txt)] [added: 2021)*](https://www.sec.gov/Archives/edgar/data/92103/000082705222000006/eix-20211231ex1051b8c6a.htm)] |
| [removed: 10.4.1] [added: 10.7.1] | | [removed: [Executive Grantor Trust Agreement Amendment 2002-1, effective May 14, 2002] [added: [Edison International 2012 Long-Term Incentives Terms and Conditions] (File No. 1-9936, filed as Exhibit [removed: 10.3] [added: 10.2] to Edison International's Form 10-Q for the quarter ended [removed: June 30, 2002)*](http://www.sec.gov/Archives/edgar/data/827052/000082705202000029/exh103eix.htm)] [added: March 31, 2012)*](http://www.sec.gov/Archives/edgar/data/827052/000082705212000050/eixq12012ex102.htm)] |
| [removed: 10.4.2] [added: 10.8] | | [removed: [Executive] [added: [Edison International 2008 Executive Severance Plan, as amended] and [removed: Director Grantor Trust Agreements Amendment 2008-1] [added: restated effective January 1, 2022] (File No. 1-9936, filed as Exhibit [removed: No. 10.6.2] [added: 10.9] to Edison [removed: International's] [added: International’s] Form 10-K for the year ended December 31, [removed: 2008)*](http://www.sec.gov/Archives/edgar/data/827052/000089256909000150/a51166exv10w6w2.htm)] [added: 2021)*](https://www.sec.gov/Archives/edgar/data/92103/000082705222000006/eix-20211231ex109af1f7e.htm)] |
| [removed: 10.5] [added: 10.11] | | [removed: [Southern] [added: [Amended and Restated Agreement for the Allocation of Income Tax Liabilities and Benefits among Edison International, Southern] California Edison Company [removed: Executive Retirement Plan, as amended effective June 19, 2014] [added: and The Mission Group dated September 10, 1996] (File No. 1-9936, filed as Exhibit [removed: 10.7] [added: 10.3] to Edison [removed: International and SCE's] [added: International's] Form 10-Q for the quarter ended [removed: June] [added: September] 30, [removed: 2014)*](http://www.sec.gov/Archives/edgar/data/827052/000082705214000154/eixq22014ex107.htm)] [added: 2002)*](http://www.sec.gov/Archives/edgar/data/827052/000082705202000046/eix3q02ex103.htm)] |
| [removed: 10.5.1] [added: 10.5] | | [Edison International [removed: 2008] Executive [removed: Retirement] [added: Incentive Compensation] Plan, as amended and restated effective [added: January 1, 2022 (File No. 1-9936, filed as Exhibit 10.6 to Edison International’s Form 10-K for the year ended] December [removed: 8, 2021](https://www.sec.gov/Archives/edgar/data/827052/000082705222000006/eix-20211231ex1051b8c6a.htm)] [added: 31, 2021)*](https://www.sec.gov/Archives/edgar/data/92103/000082705222000006/eix-20211231ex106de7c96.htm)] |
| 10.7 | | [Edison International [removed: 2008 Executive Disability Plan,] [added: 2007 Performance Incentive Plan] as amended and restated effective [removed: April] [added: May] 2, [removed: 2018] [added: 2016] (File No. 1-9936, filed as Exhibit [removed: No. 10.4] [added: 10.1] to Edison [removed: International and SCE's] [added: International's] Form [removed: 10-Q for the quarter ended March 31, 2018)*](http://www.sec.gov/Archives/edgar/data/92103/000082705218000115/q1eix10q2018ex104.htm)] [added: 8-K dated April 28, 2016 and filed April 29, 2016)*](http://www.sec.gov/Archives/edgar/data/92103/000082705216000298/exhibit101.htm)] |
| [removed: 10.8] [added: 3.2] | | [removed: [Edison International 2007 Performance Incentive Plan] [added: [Bylaws of Edison International,] as amended [removed: and restated effective May 2, 2016] [added: effective, December 8, 2022] (File No. 1-9936, filed as Exhibit [removed: 10.1] [added: No. 3.1] to Edison International's Form 8-K dated [removed: April 28, 2016] [added: December 8, 2022] and filed [removed: April 29, 2016)*](http://www.sec.gov/Archives/edgar/data/92103/000082705216000298/exhibit101.htm)] [added: December 9, 2022)*](https://www.sec.gov/Archives/edgar/data/92103/000082705222000090/eix-20221208xex3d1.htm)] |
| [removed: 10.8.1] [added: 10.7.4] | | [Edison International [removed: 2011] [added: 2015] Long-Term Incentives Terms and Conditions [removed: (File] [added: (File,] No. 1-9936, filed as Exhibit 10.2 to Edison International's Form 10-Q for the quarter ended March 31, [removed: 2011)*](http://www.sec.gov/Archives/edgar/data/827052/000104746911004333/a2203476zex-10_2.htm)] [added: 2015)*](http://www.sec.gov/Archives/edgar/data/92103/000082705215000115/eixq12015ex10-2.htm)] |
| [removed: 10.8.2] [added: 10.7.2] | | [Edison International [removed: 2012] [added: 2013] Long-Term Incentives Terms and Conditions (File No. 1-9936, filed as Exhibit 10.2 to Edison International's Form 10-Q for the quarter ended March 31, [removed: 2012)*](http://www.sec.gov/Archives/edgar/data/827052/000082705212000050/eixq12012ex102.htm)] [added: 2013)*](http://www.sec.gov/Archives/edgar/data/92103/000082705213000107/eixq12013ex102.htm)] |
| [removed: 10.8.3] [added: 10.7.6] | | [Edison International [removed: 2013] [added: 2017] Long-Term Incentives Terms and Conditions [removed: (File] [added: (File,] No. 1-9936, filed as Exhibit 10.2 to Edison International's Form 10-Q for the quarter ended March 31, [removed: 2013)*](http://www.sec.gov/Archives/edgar/data/92103/000082705213000107/eixq12013ex102.htm)] [added: 2017)*](http://www.sec.gov/Archives/edgar/data/92103/000082705217000128/exhibit102q12017.htm)] |
| [removed: 10.8.4] [added: 10.7.3] | | [Edison International 2014 Long-Term Incentives Terms and Conditions (File, No. 1-9936, filed as Exhibit 10.3 to Edison International's Form 10-Q for the quarter ended March 31, 2014)*](http://www.sec.gov/Archives/edgar/data/92103/000082705214000135/eixq12014ex103.htm) |
| [removed: 10.8.5] [added: 10.7.5] | | [Edison International [removed: 2015] [added: 2016] Long-Term Incentives Terms and Conditions (File, No. 1-9936, filed as Exhibit [removed: 10.2] [added: 10.4] to Edison International's Form 10-Q for the quarter ended March 31, [removed: 2015)*](http://www.sec.gov/Archives/edgar/data/92103/000082705215000115/eixq12015ex10-2.htm)] [added: 2016)*](http://www.sec.gov/Archives/edgar/data/92103/000082705216000321/eixq12016ex104.htm)] |
| [removed: 10.8.6] [added: 10.7.9] | | [Edison International [removed: 2016] [added: 2020] Long-Term Incentives Terms and Conditions (File, No. 1-9936, filed as Exhibit 10.4 to Edison International's Form 10-Q for the quarter [removed: ended March 31, 2016)*](http://www.sec.gov/Archives/edgar/data/92103/000082705216000321/eixq12016ex104.htm)] [added: ended](http://www.sec.gov/Archives/edgar/data/92103/000082705220000091/eix-sceq110q2020xex104.htm) [March 3](http://www.sec.gov/Archives/edgar/data/92103/000082705220000091/eix-sceq110q2020xex104.htm)[1](http://www.sec.gov/Archives/edgar/data/92103/000082705220000091/eix-sceq110q2020xex104.htm)[, 2020)*](http://www.sec.gov/Archives/edgar/data/92103/000082705220000091/eix-sceq110q2020xex104.htm)] |
| [removed: 10.8.7] [added: 10.7.8] | | [Edison International [removed: 2017] [added: 2019] Long-Term Incentives Terms and Conditions (File, No. 1-9936, filed as Exhibit [removed: 10.2] [added: 10.3] to Edison International's Form 10-Q for the quarter ended March 31, [removed: 2017)*](http://www.sec.gov/Archives/edgar/data/92103/000082705217000128/exhibit102q12017.htm)] [added: 2019)*](http://www.sec.gov/Archives/edgar/data/92103/000082705219000108/a103eix2019long-termincent.htm)] |
| [removed: 10.8.8] [added: 10.7.7] | | [Edison International 2018 Long-Term Incentives Terms and Conditions (File. No. 1-9936, filed as Exhibit 10.3 to Edison International's Form 10-Q for the quarter ended March 31, 2018)*](http://www.sec.gov/Archives/edgar/data/92103/000082705218000115/q1eix10q2018ex103.htm) |
| [removed: 10.8.9] [added: 10.7.10] | | [Edison International [removed: 2019] [added: 2021] Long-Term Incentives Terms and Conditions (File, No. 1-9936, filed as Exhibit [removed: 10.3] [added: 10.1] to Edison International's Form 10-Q for the quarter ended March 31, [removed: 2019)*](http://www.sec.gov/Archives/edgar/data/92103/000082705219000108/a103eix2019long-termincent.htm)] [added: 2021)*](https://www.sec.gov/Archives/edgar/data/92103/000082705221000033/eix-20210331ex101010672.htm)] |
| [removed: 10.8.10] [added: 10.7.11] | | [Edison International [removed: 2020] [added: 2022] Long-Term Incentives Terms and Conditions (File, No. 1-9936, filed as Exhibit [removed: 10.4] [added: 10.1] to Edison [removed: International's] [added: International’s] Form 10-Q for the quarter [removed: ended](http://www.sec.gov/Archives/edgar/data/92103/000082705220000091/eix-sceq110q2020xex104.htm) [March 3](http://www.sec.gov/Archives/edgar/data/92103/000082705220000091/eix-sceq110q2020xex104.htm)[1](http://www.sec.gov/Archives/edgar/data/92103/000082705220000091/eix-sceq110q2020xex104.htm)[, 2020)*](http://www.sec.gov/Archives/edgar/data/92103/000082705220000091/eix-sceq110q2020xex104.htm)] [added: ended March 31, 2022)*](https://www.sec.gov/Archives/edgar/data/92103/000082705222000031/eix-20220331xex10d1.htm)] |
| [removed: 10.8.11] [added: 10.9] | | [Edison International [removed: 2021 Long-Term Incentives Terms] and [removed: Conditions (File,] [added: Southern California Edison Company Director Compensation Schedule, as adopted August 25, 2022 (File] No. 1-9936, filed as Exhibit 10.1 to Edison [removed: International's] [added: International and SCE's] Form 10-Q for the quarter ended [removed: March 31, 2021)*](https://www.sec.gov/Archives/edgar/data/92103/000082705221000033/eix-20210331ex101010672.htm)] [added: September 30, 2022)](https://www.sec.gov/Archives/edgar/data/92103/000082705222000076/eix-20220930xex10d1.htm)] |
| 10.10 | | [Edison International [removed: and Southern California Edison Company] Director [removed: Compensation Schedule,] [added: Matching Gifts Program,] as [removed: adopted August 26, 2021] [added: revised effective January 1, 2019] (File No. 1-9936, filed as Exhibit 10.1 to Edison [removed: International and SCE's] [added: International's] Form 10-Q for the quarter ended September 30, [removed: 2021)*](https://www.sec.gov/Archives/edgar/data/92103/000082705221000063/eix-20210930ex101a059d7.htm)] [added: 2019)*](http://www.sec.gov/Archives/edgar/data/92103/000082705219000166/eix-sceq310q2019xex101.htm)] |
| 10.12 | | [Amended and Restated [added: Tax-Allocation] Agreement [removed: for the Allocation of Income Tax Liabilities and Benefits] among [removed: Edison International, Southern California Edison Company and] The Mission Group [added: and its first-tier subsidiaries] dated September 10, 1996 (File No. 1-9936, filed as Exhibit [removed: 10.3] [added: 10.3.1] to Edison International's Form 10-Q for the quarter ended September 30, [removed: 2002)*](http://www.sec.gov/Archives/edgar/data/827052/000082705202000046/eix3q02ex103.htm)] [added: 2002)*](http://www.sec.gov/Archives/edgar/data/827052/000082705202000046/eix3qex1031.htm)] |
| [removed: 10.13] [added: 10.12.3] | | [Amended and Restated [removed: Tax-Allocation] [added: Administrative] Agreement [added: Re Tax Allocation Payments, dated February 13, 2012,] among [removed: The Mission Group] [added: Edison International] and [removed: its first-tier subsidiaries dated September 10, 1996] [added: subsidiary parties.] (File No. [removed: 1-9936,] [added: 333-68630,] filed as Exhibit [removed: 10.3.1] [added: 10.12] to Edison [removed: International's] [added: Mission Energy's] Form [removed: 10-Q] [added: 10-K] for the [removed: quarter] [added: year] ended [removed: September 30, 2002)*](http://www.sec.gov/Archives/edgar/data/827052/000082705202000046/eix3qex1031.htm)] [added: December 31, 2011)*](http://www.sec.gov/Archives/edgar/data/930835/000093083512000007/eme10k2011ex1012.htm)] |
| [removed: 10.13.1] [added: 10.12.1] | | [Amended and Restated Tax-Allocation Agreement between Mission Energy Holding Company and Edison Mission Energy dated February 13, 2012 (File No. 333-68630, filed as Exhibit 10.11 to Edison Mission Energy's Form 10-K for the year ended December 31, 2011)*](http://www.sec.gov/Archives/edgar/data/930835/000093083512000007/eme10k2011ex1011.htm) |
| [removed: 10.13.2] [added: 10.12.2] | | [Modification No. 1 to the Amended and Restated Tax-Allocation Agreement between Mission Energy Holding Company and Edison Mission Energy dated February 13, 2012 (File No. 333-68630, filed as Exhibit 10.1 to Edison Mission Energy's Form 8-K dated November 15, 2012 and filed November 21, 2012)*](http://www.sec.gov/Archives/edgar/data/930835/000110465912079622/a12-27742_1ex10d1.htm) |
| [removed: 10.14] [added: 10.13] | | [Form of Indemnity Agreement between Edison International and its Directors and any officer, employee or other agent designated by the Board of Directors (File No. 1-9936, filed as Exhibit 10.5 to Edison International's Form 10-Q [removed: for](http://www.sec.gov/Archives/edgar/data/827052/000082705205000123/ex1052q05.htm)] [added: for] the quarter ended June 30, [removed: 2005)*] [added: 2005)*](https://www.sec.gov/Archives/edgar/data/827052/000082705205000123/ex1052q05.htm)] |
| [removed: 10.15] [added: 10.14] | | [Second Amended and Restated Credit Agreement dated as of May 17, 2018 among Edison International, the several banks and other financial institutions from time to time parties thereto, the several agents parties thereto and JPMorgan Chase Bank, N.A., as administrative agent for the lenders. (File No. 1-9936, filed as Exhibit 10.1 to Edison International's Form 8-K dated and filed May 18, 2018)*](http://www.sec.gov/Archives/edgar/data/92103/000082705218000121/eixexhibit101workiva.htm) |
| [removed: 10.16] [added: 10.17] | | [Second Amended and Restated Credit Agreement dated as of May 17, 2018 among SCE, the several banks and other financial institutions from time to time parties thereto, the several agents parties thereto and JPMorgan Chase Bank, N.A., as administrative agent for the lenders. (File No. 1-2313, filed as Exhibit 10.2 to [removed: Southern California Edison Company's] [added: SCE's] Form 8-K dated and filed May 18, 2018)*](http://www.sec.gov/Archives/edgar/data/92103/000082705218000121/sceexhibit102workiva.htm) |
| [removed: 10.17] [added: 10.21] | | [Term Loan Credit [removed: Agreement,] [added: Agreement] dated as of [removed: March 11, 2020,] [added: May 10, 2021,] among Southern California Edison Company, the several banks and other financial institutions from time to time parties [removed: thereto,] [added: thereto] and Royal Bank of Canada, as administrative agent [removed: for the lenders.] [added: and green loan structuring agent.] (File No. 1-2313, filed as Exhibit [removed: 10.2] [added: 10.1] to [removed: Southern California Edison Company's] [added: SCE's] Form 8-K dated [added: May 10, 2021] and filed [removed: March] [added: May] 11, [removed: 2020)*](http://www.sec.gov/Archives/edgar/data/92103/000009210320000012/exhibit102termloancred.htm)] [added: 2021)*](https://www.sec.gov/Archives/edgar/data/92103/000009210321000011/sce-20210510ex101c37169.htm)] |
| [removed: 10.18] [added: 10.23] | | [Term Loan Credit Agreement, dated as of [removed: March 20, 2020,] [added: April 8, 2022,] among Edison International, the several banks and other financial institutions from time to time parties [removed: thereto, JPMorgan Chase Bank, N.A., as administrative agent for the lenders, and Citibank, N.A., as syndication agent.] [added: thereto] (File No. 1-9936, filed as Exhibit 10.1 to Edison [removed: International's] [added: International’s] Form 8-K dated [removed: March 20, 2020] and filed [removed: March 24, 2020)*](http://www.sec.gov/Archives/edgar/data/827052/000082705220000052/exhibit101agreement.htm)] [added: April 8, 2022)*](https://www.sec.gov/Archives/edgar/data/827052/000082705222000010/eix-20220408ex101582a5e.htm)] |
| [removed: 10.19] [added: 10.15] | | [First Amendment, dated as of April 30, 2021, to the Second Amended and Restated Credit Agreement, dated as of May 17, 2018, by and among Edison International, the several banks and other financial institutions party thereto and JPMorgan Chase bank, N.A., as administrative agent. (File No. 1-9936, filed as Exhibit 10.1 to Edison International's Form 8-K dated April 30, 2021 and filed May 6, 2021)*](https://www.sec.gov/Archives/edgar/data/92103/000082705221000040/eix-20210430ex10145be2b.htm) |
| [removed: 10.20 | |] [First Amendment, dated as of April 30, 2021, to the Second Amended and Restated Credit Agreement, dated as of May 17, 2018, by and among Southern California Edison Company, the several banks and other financial institutions party thereto and JPMorgan Chase bank, N.A., as administrative agent. (File No. 1-2313, filed as Exhibit 10.2 to Southern California Edison Company's Form 8-K dated April 30, 2021 and filed May 6, 2021)*](https://www.sec.gov/Archives/edgar/data/92103/000082705221000040/eix-20210430ex1022c33d1.htm) [added: ] | [added: | |]
| [removed: 10.21] [added: 10.19] | | [Commitment Increase Supplement, by and among Southern California Edison Company and the lenders named therein, and accepted by JPMorgan Chase Bank, N.A., as administrative agent and the issuing lenders named therein. (File No. 1-2313, filed as Exhibit 10.3 to [removed: Southern California Edison Company's] [added: SCE's] Form 8-K dated April 30, 2021 and filed May 6, 2021)*](https://www.sec.gov/Archives/edgar/data/92103/000082705221000040/eix-20210430ex10307c53c.htm) |
| 10.22 | | [removed: [Term] [added: [First Amendment, dated as of May 9, 2022, to the Term] Loan Credit [removed: Agreement] [added: Agreement,] dated as of May 10, 2021, among Southern California Edison Company, the several banks and other financial institutions from time to time parties thereto and Royal Bank of Canada, as administrative agent [removed: and green loan structuring agent. ( File] [added: (File] No. 1-2313, filed as Exhibit 10.1 to [removed: Southern California Edison Company's] [added: SCE’s] Form 8-K dated [removed: May 10, 2021] and filed May [removed: 11, 2021)*](https://www.sec.gov/Archives/edgar/data/92103/000009210321000011/sce-20210510ex101c37169.htm)] [added: 9, 2022)*](https://www.sec.gov/Archives/edgar/data/92103/000009210322000008/sce-20220509xex10d1.htm)] |
| 3.4 | | [Bylaws of Southern California Edison Company, as amended effective December 8, 2022 (File No. 1-2313, filed as Exhibit No. 3.2 to SCE’s Form 8-K dated December 8, 2022 and filed December 9, 2022)*](https://www.sec.gov/Archives/edgar/data/92103/000082705222000090/eix-20221208xex3d2.htm) |
| [First Amendment, dated as of April 30, 2021, to the Second Amended and Restated Credit Agreement, dated as of May 17, 2018, by and among Southern California Edison Company, the several banks and other financial institutions party thereto and JPMorgan Chase bank, N.A., as administrative agent. (File No. 1-2313, filed as Exhibit 10.2 to Southern California Edison Company's Form 8-K dated April 30, 2021 and filed May 6, 2021)*](https://www.sec.gov/Archives/edgar/data/92103/000082705221000040/eix-20210430ex1022c33d1.htm) | | |
| [First Amendment, dated as of April 30, 2021, to the Second Amended and Restated Credit Agreement, dated as of May 17, 2018, by and among Southern California Edison Company, the several banks and other financial institutions party thereto and JPMorgan Chase bank, N.A., as administrative agent. (File No. 1-2313, filed as Exhibit 10.2 to Southern California Edison Company's Form 8-K dated April 30, 2021 and filed May 6, 2021)*](https://www.sec.gov/Archives/edgar/data/92103/000082705221000040/eix-20210430ex1022c33d1.htm) | | |
| [First Amendment, dated as of April 30, 2021, to the Second Amended and Restated Credit Agreement, dated as of May 17, 2018, by and among Southern California Edison Company, the several banks and other financial institutions party thereto and JPMorgan Chase bank, N.A., as administrative agent. (File No. 1-2313, filed as Exhibit 10.2 to Southern California Edison Company's Form 8-K dated April 30, 2021 and filed May 6, 2021)*](https://www.sec.gov/Archives/edgar/data/92103/000082705221000040/eix-20210430ex1022c33d1.htm) | | |
| 10.16 | | [Second Amendment, dated as of May 4, 2022, to the Second Amended and Restated Credit Agreement, dated as of May 17, 2018, as amended by the First Amendment, dated as of April 30, 2021, by and among Edison International, the several banks and other financial institutions party thereto and JPMorgan Chase Bank, N.A., as administrative agent (File No. 1-9936, filed as Exhibit 10.1 to Edison International’s Form 8-K dated and filed May 4, 2022)*](https://www.sec.gov/Archives/edgar/data/92103/000082705222000040/eix-20220504xex10d1.htm) |
| 10.18 | | [First Amendment, dated as of April 30, 2021, to the Second Amended and Restated Credit Agreement, dated as of May 17, 2018, by and among Southern California Edison Company, the several banks and other financial institutions party thereto and JPMorgan Chase bank, N.A., as administrative agent. (File No. 1-2313, filed as Exhibit 10.2 to SCE's Form 8-K dated April 30, 2021 and filed May 6, 2021)*](https://www.sec.gov/Archives/edgar/data/92103/000082705221000040/eix-20210430ex1022c33d1.htm) |
| [First Amendment, dated as of April 30, 2021, to the Second Amended and Restated Credit Agreement, dated as of May 17, 2018, by and among Southern California Edison Company, the several banks and other financial institutions party thereto and JPMorgan Chase bank, N.A., as administrative agent. (File No. 1-2313, filed as Exhibit 10.2 to Southern California Edison Company's Form 8-K dated April 30, 2021 and filed May 6, 2021)*](https://www.sec.gov/Archives/edgar/data/92103/000082705221000040/eix-20210430ex1022c33d1.htm) | | |
| 10.20 | | [Second Amendment, dated as of May 4, 2022, to the Second Amended and Restated Credit Agreement, dated as of May 17, 2018, as amended by the First Amendment, dated as of April 30, 2021, as supplemented by the Commitment Increase Supplement, dated as of April 30, 2021, by and among Southern California Edison Company, the several banks and other financial institutions party thereto and JPMorgan Chase Bank, N.A., as administrative agent (File No. 1-2313, filed as Exhibit 10.2 to SCE’s Form 8-K dated and filed May 4, 2022)*](https://www.sec.gov/Archives/edgar/data/92103/000082705222000040/eix-20220504xex10d2.htm) |
| 10.24 | | [Term Loan Credit Agreement, dated as of November 7, 2022, among Edison International, the several banks and other financial institutions from time to time party thereto, and PNC Bank, National Association (File No. 1-9936, filed as Exhibit 10.1 to Edison International’s Form 8-K dated and filed November 7, 2022)*](https://www.sec.gov/Archives/edgar/data/92103/000082705222000082/eix-20221107xex10d1.htm) |
| 10.25 | | [Term Loan Credit Agreement, dated as of November 7, 2022, among Southern California Edison Company, the several banks and other financial institutions from time to time party thereto, and Truist Bank (File No. 1-2313, filed as Exhibit 10.2 to SCE’s Form 8-K dated and filed on November 7, 2022)](https://www.sec.gov/Archives/edgar/data/92103/000082705222000082/eix-20221107xex10d2.htm)* |
| [First Amendment, dated as of April 30, 2021, to the Second Amended and Restated Credit Agreement, dated as of May 17, 2018, by and among Southern California Edison Company, the several banks and other financial institutions party thereto and JPMorgan Chase bank, N.A., as administrative agent. (File No. 1-2313, filed as Exhibit 10.2 to Southern California Edison Company's Form 8-K dated April 30, 2021 and filed May 6, 2021)*](https://www.sec.gov/Archives/edgar/data/92103/000082705221000040/eix-20210430ex1022c33d1.htm) | | |
| (in millions) | | 2022 | | | 2021 | |
| (in millions) | | 2022 | | | 2021 | | | 2020 | |
This is unchanged from the January 1, 2020 to December 31, 2022 compliance period.
For further information, see "Business—SCE—Overview of Ratemaking Process" and "Business—Southern California Wildfires."
With these exclusions, SCE was in compliance with its authorized capital structure for the compliance period from January 1, 2020 to December 31, 2022.
The temporary exclusion lapsed on May 7, 2022.
As of December 31, 2022, Edison International Parent has outstanding term loans of $600 million due in April 2023 and $400 million due in November 2023, each bearing interest at either an adjusted term SOFR plus 0.70% and 0.95%, respectively, or a base rate with no applicable margin.
Edison International used the proceeds for general corporate purposes.
The dividend rate will be reset every five years beginning on March 15, 2026 and March 15, 2027, respectively, to equal the then-current five-year U.S. Treasury rate plus a spread of 4.698% and 3.901%, respectively.
| Marcy L. Reed* | | Director |
| *By: | /s/ Kate Sturgess | *By: | /s/ Kate Sturgess |
Edison International
| Schedule II – Valuation and Qualifying Accounts of Edison International |
Southern California Edison Company
| Schedule II – Valuation and Qualifying Accounts of SCE |
| | | |
| 10.6 | | [Edison International Executive Incentive Compensation Plan, as amended and restated effective January 1, 2022](https://www.sec.gov/Archives/edgar/data/827052/000082705222000006/eix-20211231ex106de7c96.htm) |
| 10.9 | | [Edison International 2008 Executive Severance Plan, as amended and restated effective January 1, 2022](https://www.sec.gov/Archives/edgar/data/827052/000082705222000006/eix-20211231ex109af1f7e.htm) |
| 10.11 | | [Edison International Director Matching Gifts Program, as revised effective January 1, 2019 (File No. 1-9936, filed as Exhibit 10.1 to Edison International's Form 10-Q for the quarter ended September 30, 2019)*](http://www.sec.gov/Archives/edgar/data/92103/000082705219000166/eix-sceq310q2019xex101.htm) |
| 10.13.3 | | [Amended and Restated Administrative Agreement Re Tax Allocation Payments, dated February 13, 2012, among Edison International and subsidiary parties. (File No. 333-68630, filed as Exhibit 10.12 to Edison Mission Energy's Form 10-K for the year ended December 31, 2011)*](http://www.sec.gov/Archives/edgar/data/930835/000093083512000007/eme10k2011ex1012.htm) |
| 99.1 | | [Edison International Press Release, dated February 24, 2022](https://www.sec.gov/Archives/edgar/data/827052/000082705222000006/eix-20211231ex9912c4fcb.htm) |
For further information, see "Notes to Consolidated Financial Statements—Note 12.
Commitments and Contingencies—Contingencies—Southern California Wildfires and Mudslides."
The CPUC authorized capital structure differs from the capital structure calculated based on GAAP due to certain exclusions allowed by CPUC.
Edison International did not issue any shares during the three and twelve months ended December 31, 2021 through its "at-the-market" ("ATM") program established in May 2019.
As of December 31, 2021, shares of common stock having an aggregate offering price of $1.3 billion remained available to be sold under the ATM program.
SCHEDULE II – VALUATION AND QUALIFYING ACCOUNTS
| | | | | | | | | | | | | | | | | |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| | | | | | | Additions | | | | | | | | | | |
| | | Balance at | | | Charged to | | | Charged to | | | | | | Balance at | | |
| | | Beginning of | | | Costs and | | | Other | | | | | | End of | | |
| (in millions) | | Period | | | Expenses | | | Accounts | | | Deductions | | | Period | | |
| Allowance for uncollectible accounts | | | | | | | | | | | | | | | | |
| Customers | | $ | 175 | | $ | 33 | | $ | 91 | | $ | 6 | | $ | 293 | |
| All others | | | 13 | | | 11 | | | — | | | 8 | | | 16 | |
| Total allowance for uncollectible amounts | | $ | 188 | | $ | 44 | | $ | 91 | b | $ | 14 | a | $ | 309 | |
| Tax valuation allowance | | $ | 35 | | $ | 9 | c | $ | — | | $ | — | | $ | 44 | |
| Allowance for uncollectible accounts | | | | | | | | | | | | | | | | |
| Customers | | $ | 35 | | $ | 36 | | $ | 120 | | $ | 16 | | $ | 175 | |
| All others | | | 14 | | | 10 | | | — | | | 11 | | | 13 | |
| Total allowance for uncollectible amounts | | $ | 49 | | $ | 46 | | $ | 120 | b | $ | 27 | a | $ | 188 | |
| Tax valuation allowance | | $ | 35 | | $ | — | | $ | — | | $ | — | | $ | 35 | |
| For the Year ended December 31, 2019 | | | | | | | | | | | | | | | | |
| Customers | | $ | 31 | | $ | 22 | | $ | — | | $ | 18 | | $ | 35 | |
| All others | | | 20 | | | 10 | | | — | | | 16 | | | 14 | |
| Total allowance for uncollectible amounts | | $ | 51 | | $ | 32 | | $ | — | | $ | 34 | a | $ | 49 | |
| Tax valuation allowance | | $ | 36 | | $ | — | | $ | — | | $ | 1 | | $ | 35 | |
| a. | Accounts written off, net. |
| --- | --- |
An excerpt. Shown here: 40 of 134 rewritten, all 22 added and 40 of 52 removed. The counts are complete. For every sentence, read Item 6. Reserved. in the FY2022 filing and the FY2021 filing.