- Fourth Quarter 2020 GAAP EPS of $1.39; Core EPS of $1.19
- Full-Year 2020 GAAP EPS of $1.98; Core EPS of $4.52 exceeds
midpoint of initial guidance range
- Edison International declares quarterly dividend of $0.6625 per
share; annualized rate of $2.65 per share
- EIX will issue securities with up to $1 billion of equity
content in 2021
Edison International (NYSE: EIX) today reported fourth quarter
2020 net income of $526 million, or $1.39 per share, compared to
net income of $143 million, or $0.40 per share, in the fourth
quarter 2019. As adjusted, fourth quarter 2020 core earnings were
$451 million, or $1.19 per share, compared to core earnings of $355
million, or $0.99 per share, in the fourth quarter 2019.
Southern California Edison's (SCE) fourth quarter core earnings
per share (EPS) was higher primarily from higher CPUC-related
revenue due to the 2018 GRC decision's escalation mechanism, lower
expenses from regulatory deferrals related to 2020 wildfire
mitigation activities, a 2020 adjustment to 2018–2019 regulatory
deferrals from the approval of the GRC track 2 settlement, and
higher deferral of customer uncollectibles. These were partially
offset by the increase in shares outstanding primarily associated
with the equity offering in May 2020.
SCE's non-core loss per share was lower primarily due to lower
charges for SCE's 2017/2018 Wildfire/Mudslide Events claims and
expenses, net of recoveries, and gains from SCE's sale of San
Onofre nuclear fuel.
Edison International Parent and Other's fourth quarter 2020 net
income per share increased by $0.28 compared to fourth quarter
2019. The higher income per share was primarily due to a non-core
gain from the sale of an investment in a lease of a hydroelectric
power plant in Vidalia, Louisiana.
“In 2020, SCE made substantial progress on its comprehensive
wildfire mitigation strategy. SCE accomplished the vast majority of
its 2020 program targets and, in many cases, exceeded those goals,
despite the challenges faced during the COVID-19 pandemic,” said
Pedro J. Pizarro, president and CEO of Edison International. “Since
the end of 2018, SCE’s execution of its wildfire mitigation
strategy has reduced the risk of wildfires associated with utility
infrastructure, despite a record-setting California wildfire season
last year.”
Pizarro added, “SCE has also made significant progress toward
resolving pending wildfire-related litigation. In total, SCE has
resolved approximately two-thirds of the best estimate of total
losses established last September. Looking ahead, SCE is planning
for the critical role it plays in sustainability, particularly from
the unique vantage point of a wires-focused business. This will
include significant capital investment opportunities to support the
electrification of transportation and buildings, as outlined in
SCE’s Pathway 2045 and Reimagining the Grid white papers.”
Full-Year Earnings
For 2020, Edison International reported net income of $0.7
billion, or $1.98 per share, compared to $1.3 billion, or $3.78 per
share, for 2019. As adjusted, Edison International's core earnings
were $1.7 billion, or $4.52 per share, compared to $1.6 billion, or
$4.70 per share, in 2019.
SCE's 2020 core EPS was lower due to the increase in shares
outstanding primarily related to the equity offerings in July 2019
and May 2020. Operational results were higher primarily from higher
CPUC-related revenue due to the 2018 GRC decision's escalation
mechanism, lower expenses from regulatory deferrals related to 2020
wildfire mitigation activities, and a 2020 adjustment to 2018–2019
regulatory deferrals from the approval of the GRC track 2
settlement. These were partially offset primarily by a true-up
related to the 2018 GRC decision in the second quarter of 2019 and,
to a lesser extent, higher customer uncollectibles from the
COVID-19 pandemic and expenses from SCE's response to the pandemic
that were unable to be deferred to regulatory assets because they
were not incremental to activities and expenses previously
authorized for recovery.
SCE’s non-core loss per share was higher primarily due to higher
charges for wildfire-related claims for the 2017/2018
Wildfire/Mudslide Events, net of recoveries, and higher
amortization of SCE's contributions to the Wildfire Insurance Fund.
These were partially offset by higher gains from SCE's sale of San
Onofre nuclear fuel and the absence of an impairment charge
resulting from SCE's 2018 GRC final decision recorded in the second
quarter 2019.
Edison International Parent and Other’s 2020 loss per share
decreased by $0.18 compared to 2019. Core loss per share was higher
primarily due to higher interest expense as a result of increased
borrowings. Non-core income per share was higher primarily due to a
gain from the sale of an investment in a lease of a hydroelectric
power plant in Vidalia, Louisiana recorded in 2020.
Edison International uses core earnings, which is a non-GAAP
financial measure that adjusts for significant discrete items that
management does not consider representative of ongoing earnings.
Edison International management believes that core earnings provide
more meaningful comparisons of performance from period to period.
Please see the attached tables for a reconciliation of core
earnings to basic GAAP earnings.
Financing Update
The company provided an update on its previously stated equity
requirements. To enable SCE to continue to debt-finance the
2017/2018 Wildfire/Mudslide Events claims payments and maintain
investment grade credit ratings at SCE and the parent company,
Edison International will issue securities with up to $1 billion of
equity content. The company expects to complete this financing
activity in 2021. See the prepared remarks accompanying the
company’s conference call for further information.
2021 Earnings Guidance
Edison International will provide 2021 earnings guidance after a
final decision has been adopted by the CPUC on the Southern
California Edison 2021 GRC, consistent with the company's prior
practice.
Edison International and Southern
California Edison Declare Dividends
Today, the Board of Directors of Edison International declared a
quarterly common stock dividend of $0.6625 per share, payable on
April 30, 2021, to shareholders of record on March 31, 2021.
Additionally, the Board of Directors of Southern California Edison
Company today declared dividends on preference stock. For more
information, please see the related news release at
www.edisoninvestor.com.
Fourth Quarter and Full-Year 2020
Earnings Conference Call and Webcast Details
When:
Thursday, February 25, 2021, 1:30 p.m.
(Pacific Time)
Telephone Numbers:
1-888-673-9780 (U.S.) and 1-312-470-0178
(Int'l) - Passcode: Edison
Telephone Replay:
1-888-296-6948 (U.S.) and 1-203-369-3028
(Int’l) - Passcode: 2548
Telephone replay available through March
12, 2021
Webcast:
www.edisoninvestor.com
Edison International has posted its earnings conference call
prepared remarks by the CEO and CFO, the teleconference
presentation, and Form 10-K to the company's investor relations
website. These materials are available at
www.edisoninvestor.com.
About Edison
International
Edison International (NYSE: EIX) is one of the nation’s largest
electric utility holding companies, providing clean and reliable
energy and energy services through its independent companies.
Headquartered in Rosemead, California, Edison International is the
parent company of Southern California Edison Company, a utility
that delivers electricity to 15 million people across Southern,
Central and Coastal California. Edison International is also the
parent company of Edison Energy, a global energy advisory company
delivering comprehensive, data-driven energy solutions to
commercial and industrial users to meet their cost, sustainability
and risk goals.
Appendix
Use of Non-GAAP Financial
Measures
Edison International’s earnings are prepared in accordance with
generally accepted accounting principles used in the United States
and represent the company’s earnings as reported to the Securities
and Exchange Commission. Our management uses core earnings and core
earnings per share (EPS) internally for financial planning and for
analysis of performance of Edison International and Southern
California Edison. We also use core earnings and core EPS when
communicating with analysts and investors regarding our earnings
results to facilitate comparisons of the Company’s performance from
period to period. Financial measures referred to as net income,
basic EPS, core earnings, or core EPS also apply to the description
of earnings or earnings per share.
Core earnings and core EPS are non-GAAP financial measures and
may not be comparable to those of other companies. Core earnings
and core EPS are defined as basic earnings and basic EPS excluding
income or loss from discontinued operations and income or loss from
significant discrete items that management does not consider
representative of ongoing earnings. Basic earnings and losses refer
to net income or losses attributable to Edison International
shareholders. Core earnings are reconciled to basic earnings in the
attached tables. The impact of participating securities (vested
awards that earn dividend equivalents that may participate in
undistributed earnings with common stock) for the principal
operating subsidiary is not material to the principal operating
subsidiary’s EPS and is therefore reflected in the results of the
Edison International holding company, which is included in Edison
International Parent and Other.
Safe Harbor Statement
Statements contained in this presentation about future
performance, including, without limitation, operating results,
capital expenditures, rate base growth, dividend policy, financial
outlook, and other statements that are not purely historical, are
forward-looking statements. These forward-looking statements
reflect our current expectations; however, such statements involve
risks and uncertainties. Actual results could differ materially
from current expectations. These forward-looking statements
represent our expectations only as of the date of this
presentation, and Edison International assumes no duty to update
them to reflect new information, events or circumstances. Important
factors that could cause different results include, but are not
limited to the:
- ability of SCE to recover its costs through regulated rates,
including uninsured wildfire-related and debris flow-related costs,
costs incurred to mitigate the risk of utility equipment causing
future wildfires, costs incurred to implement SCE's new customer
service system and costs incurred as a result of the COVID-19
pandemic;
- ability of SCE to implement its Wildfire Mitigation Plan;
- risks of regulatory or legislative restrictions that would
limit SCE’s ability to implement Public Safety Power Shutoff
(“PSPS”) when conditions warrant or would otherwise limit SCE’s
operational PSPS practices;
- risks associated with implementing PSPS, including regulatory
fines and penalties, claims for damages and reputational harm;
- ability of SCE to maintain a valid safety certification;
- ability to obtain sufficient insurance at a reasonable cost,
including insurance relating to SCE's nuclear facilities and
wildfire-related claims, and to recover the costs of such insurance
or, in the event liabilities exceed insured amounts, the ability to
recover uninsured losses from customers or other parties;
- extreme weather-related incidents (including events caused, or
exacerbated, by climate change, such as wildfires, debris flows,
high wind events and extreme heat events) and other natural
disasters (such as earthquakes), which could cause, among other
things, public safety issues, property damage, operational issues
(such as rotating outages and issues due to damaged
infrastructure), PSPS activations and unanticipated costs;
- risks associated with California Assembly Bill 1054 (“AB 1054”)
effectively mitigating the significant risk faced by California
investor-owned utilities related to liability for damages arising
from catastrophic wildfires where utility facilities are alleged to
be a substantial cause, including the longevity of the Wildfire
Insurance Fund and the CPUC's interpretation of and actions under
AB 1054, including its interpretation of the new prudency standard
established under AB 1054;
- decisions and other actions by the California Public Utilities
Commission, the Federal Energy Regulatory Commission, the Nuclear
Regulatory Commission and other governmental authorities, including
decisions and actions related to nationwide or statewide crisis,
determinations of authorized rates of return or return on equity,
the recoverability of wildfire-related and debris-flow-related
costs, issuance of SCE's wildfire safety certification, wildfire
mitigation efforts, and delays in executive, regulatory and
legislative actions;
- ability of Edison International or SCE to borrow funds and
access bank and capital markets on reasonable terms;
- risks associated with the decommissioning of San Onofre,
including those related to worker and public safety, public
opposition, permitting, governmental approvals, on-site storage of
spent nuclear fuel, delays, contractual disputes, and cost
overruns;
- pandemics, such as COVID-19, and other events that cause
regional, statewide, national or global disruption, which could
impact, among other things, Edison International's and SCE's
business, operations, cash flows, liquidity and/or financial
results and cause Edison International and SCE to incur
unanticipated costs;
- physical security of Edison International's and SCE's critical
assets and personnel and the cybersecurity of Edison
International's and SCE's critical information technology systems
for grid control, and business, employee and customer data;
- risks associated with cost allocation resulting in higher rates
for utility bundled service customers because of possible customer
bypass or departure for other electricity providers such as
Community Choice Aggregators (“CCA,” which are cities, counties,
and certain other public agencies with the authority to generate
and/or purchase electricity for their local residents and
businesses) and Electric Service Providers (entities that offer
electric power and ancillary services to retail customers, other
than electrical corporations (like SCE) and CCAs);
- risks inherent in SCE's transmission and distribution
infrastructure investment program, 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 acceptance of power delivery),
changes in the California Independent System Operator’s
transmission plans, and governmental approvals; and
- risks associated with the operation of transmission and
distribution assets and power generating facilities, including
worker and public safety issues, the risk of utility assets causing
or contributing to wildfires, failure, availability, efficiency,
and output of equipment and facilities, and availability and cost
of spare parts.
Additional information about risks and uncertainties, including
more detail about the factors described in this report, is
contained throughout this report and in the 2020 Form 10-K,
including the "Risk Factors" section. Readers are urged to read
this entire report, including information incorporated by
reference, as well as the 2020 Form 10-K, and carefully consider
the risks, uncertainties, and other factors that affect Edison
International's and SCE's businesses. Edison International and SCE
post or provide direct links (i) to certain SCE and other parties'
regulatory filings and documents with the CPUC and the FERC and
certain agency rulings and notices in open proceedings in a section
titled "SCE Regulatory Highlights," (ii) to certain documents and
information related to Southern California wildfires which may be
of interest to investors in a section titled "Southern California
Wildfires," and (iii) to presentations, documents and other
information that may be of interest to investors in a section title
"Events and Presentations" at www.edisoninvestor.com in order to
publicly disseminate such information.
These forward-looking statements represent our expectations only
as of the date of this news release, and Edison International
assumes no duty to update them to reflect new information, events
or circumstances. Readers should review future reports filed by
Edison International and SCE with the SEC.
Fourth Quarter and Full-Year
Reconciliation of Basic Earnings Per Share to Core Earnings Per
Share
Three months ended December
31,
Twelve months ended December
31,
2020
2019
Change
2020
2019
Change
Earnings (loss) per share attributable to
Edison International
Continuing operations
SCE
$
1.25
$
0.54
$
0.71
$
2.17
$
4.15
$
(1.98
)
Edison International Parent and Other
0.14
(0.14
)
0.28
(0.19
)
(0.37
)
0.18
Edison International
1.39
0.40
0.99
1.98
3.78
(1.80
)
Less: Non-core items
SCE
(0.05
)
(0.54
)
0.49
(2.72
)
(0.86
)
(1.86
)
Edison International Parent and Other
0.25
(0.05
)
0.30
0.18
(0.06
)
0.24
Total non-core items
0.20
(0.59
)
0.79
(2.54
)
(0.92
)
(1.62
)
Core earnings (losses)
SCE
1.30
1.08
0.22
4.89
5.01
(0.12
)
Edison International Parent and Other
(0.11
)
(0.09
)
(0.02
)
(0.37
)
(0.31
)
(0.06
)
Edison International
$
1.19
$
0.99
$
0.20
$
4.52
$
4.70
$
(0.18
)
Note: Diluted earnings were $1.39 and
$0.40 per share for the three months ended December 31, 2020 and
2019, respectively, and $1.98 and $3.77 per share for the twelve
months ended December 31, 2020 and 2019, respectively.
Fourth Quarter and Full-Year
Reconciliation of Basic Earnings Per Share to Core Earnings (in
millions)
Three months ended December
31,
Twelve months ended December
31,
(in millions)
2020
2019
Change
2020
2019
Change
Net income (loss) attributable to Edison
International
SCE
$
474
$
194
$
280
$
810
$
1,409
$
(599
)
Edison International Parent and Other
52
(51
)
103
(71
)
(125
)
54
Edison International
526
143
383
739
1,284
(545
)
Less: Non-core items
SCE1,2,3,4,5,6
(21
)
(194
)
173
(1,015
)
(293
)
(722
)
Edison International Parent and
Other2,7,8
96
(18
)
114
68
(18
)
86
Total non-core items
75
(212
)
287
(947
)
(311
)
(636
)
Core earnings (losses)
SCE
495
388
107
1,825
1,702
123
Edison International Parent and Other
(44
)
(33
)
(11
)
(139
)
(107
)
(32
)
Edison International
$
451
$
355
$
96
$
1,686
$
1,595
$
91
1 Includes amortization of SCE’s Wildfire
Insurance Fund expenses of $84 million ($61 million after-tax) and
$336 million ($242 million after-tax) for the quarter and
year-ended December 31, 2020, respectively and $85 million ($61
million after-tax) and $152 million ($109 million after-tax) for
the quarter and year-ended December 31, 2019, respectively.
2 Includes income tax benefit of $18
million and income tax expense of $3 million recorded in the first
quarter of 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 currently
under audit.
3 Includes income tax benefits of $19
million and $88 million for the quarter and year-ended December 31,
2019, respectively for SCE related to changes in the allocation of
deferred tax re-measurement between customers and shareholders as a
result of a CPUC resolution issued in February 2019. The resolution
determined that customers are only entitled to excess deferred
taxes which were included when setting rates and other deferred tax
re-measurement belongs to shareholders.
4 Includes gains of $70 million ($50
million after-tax) and $150 million ($108 million after-tax) for
the quarter and year-ended December 31, 2020, respectively and $7
million ($5 million after-tax) and $11 million ($8 million
after-tax) for the quarter and year-ended December 31, 2019,
respectively for SCE's sale of San Onofre nuclear fuel.
5 Includes charges of $13 million ($10
million after-tax) and $1.2 billion ($899 million after-tax) for
the quarter and year-ended December 31, 2020, respectively and $218
million ($157 million after-tax) for the fourth quarter of 2019 for
SCE's 2017/2018 Wildfire/Mudslide Events claims and expenses, net
of recoveries.
6 Includes an impairment charge of $170
million ($123 million after-tax) recorded in the second quarter of
2019 for SCE related to disallowed historical capital expenditures
in SCE's 2018 GRC decision.
7 Includes goodwill impairment charges of
$34 million ($25 million after-tax) recorded in the second quarter
of 2020 for Edison International Parent and Other related to Edison
Energy stemming from the economic impact of COVID-19 and $25
million ($18 million after-tax) recorded in the fourth quarter of
2019 for Edison Energy following a goodwill assessment.
8 Includes a gain of $132 million ($96
million after-tax) recorded in the fourth quarter of 2020 for
Edison International Parent and Other's sale of an investment in a
lease of a hydroelectric power plant in Vidalia, Louisiana.
Consolidated Statements of
Income
Edison International
Three months ended December
31,
Twelve months ended December
31,
(in millions, except per-share amounts,
unaudited)
2020
2019
2020
2019
Total operating revenue
$
3,157
$
2,970
$
13,578
$
12,347
Purchased power and fuel
1,119
991
4,932
4,839
Operation and maintenance
724
767
3,609
3,018
Wildfire-related claims, net of insurance
recoveries
25
255
1,328
255
Wildfire Insurance Fund expense
84
85
336
152
Depreciation and amortization
504
470
1,967
1,730
Property and other taxes
110
97
438
399
Impairment and other (income) expense
(70
)
18
(116
)
184
Gain on sale of lease interest and other
operating income
(133
)
—
(133
)
(5
)
Total operating expenses
2,363
2,683
12,361
10,572
Operating income
794
287
1,217
1,775
Interest expense
(226
)
(222
)
(902
)
(841
)
Other income
34
42
251
193
Income before income taxes
602
107
566
1,127
Income tax expense (benefit)
50
(66
)
(305
)
(278
)
Net income
552
173
871
1,405
Preferred and preference stock dividend
requirements of SCE
26
30
132
121
Net income attributable to Edison
International common shareholders
$
526
$
143
$
739
$
1,284
Basic earnings per share:
Weighted average shares of common stock
outstanding
378
360
373
340
Basic earnings per common share
attributable to Edison International common shareholders:
$
1.39
$
0.40
$
1.98
$
3.78
Diluted earnings per share:
Weighted average shares of common stock
outstanding, including effect of dilutive securities
379
361
374
341
Diluted earnings per common share
attributable to Edison International common shareholders
$
1.39
$
0.40
$
1.98
$
3.77
Consolidated Balance Sheets
Edison International
(in millions, unaudited)
December 31, 2020
December 31, 2019
ASSETS
Cash and cash equivalents
$
87
$
68
Receivables, less allowances of $188 and
$50 for uncollectible accounts at respective dates
1,130
788
Accrued unbilled revenue
521
488
Insurance receivable
708
—
Income tax receivables
68
118
Inventory
405
364
Prepaid expenses
281
214
Regulatory assets
1,314
1,009
Wildfire Insurance Fund contributions
323
323
Other current assets
224
188
Total current assets
5,061
3,560
Nuclear decommissioning trusts
4,833
4,562
Other investments
53
64
Total investments
4,886
4,626
Utility property, plant and equipment,
less accumulated depreciation and amortization of $10,681 and
$9,958 at respective dates
47,653
44,198
Nonutility property, plant and equipment,
less accumulated depreciation of $94 and $86 at respective
dates
186
87
Total property, plant and
equipment
47,839
44,285
Regulatory assets
7,120
6,088
Wildfire Insurance Fund contributions
2,443
2,767
Operating lease right-of-use assets
1,088
693
Long-term insurance receivables
75
1715
Other long-term assets
860
648
Total long-term assets
11,586
11,911
Total assets
$
69,372
$
64,382
Consolidated Balance Sheets
Edison International
(in millions, except share amounts,
unaudited)
December 31, 2020
December 31, 2019
LIABILITIES AND EQUITY
Short-term debt
$
2,398
$
550
Current portion of long-term debt
1,029
479
Accounts payable
1,980
1,752
Customer deposits
243
302
Regulatory liabilities
569
972
Current portion of operating lease
liabilities
215
80
Wildfire-related claims
2,231
—
Other current liabilities
1,612
1,388
Total current liabilities
10,277
5,523
Long-term debt
19,632
17,864
Deferred income taxes and credits
5,368
5,078
Pensions and benefits
563
674
Asset retirement obligations
2,930
3,029
Regulatory liabilities
8,589
8,385
Operating lease liabilities
873
613
Wildfire-related claims
2,281
4,568
Other deferred credits and other long-term
liabilities
2,910
3,152
Total deferred credits and other
liabilities
23,514
25,499
Total liabilities
53,423
48,886
Commitments and contingencies
Common stock, no par value (800,000,000
shares authorized; 378,907,147 and 361,985,133 shares issued and
outstanding at respective dates)
5,962
4,990
Accumulated other comprehensive loss
(69
)
(69
)
Retained earnings
8,155
8,382
Total Edison International's common
shareholders' equity
14,048
13,303
Noncontrolling interests – preferred and
preference stock of SCE
1,901
2,193
Total equity
15,949
15,496
Total liabilities and equity
$
69,372
$
64,382
Consolidated Statements of Cash
Flows
Edison International
Years ended December 31,
(in millions, unaudited)
2020
2019
2018
Cash flows from operating
activities:
Net income (loss)
$
871
$
1,405
$
(316
)
Less: Income from discontinued
operations
—
—
34
Income (loss) from continuing
operations
871
1,405
(350
)
Adjustments to reconcile to net cash
provided by operating activities:
Depreciation and amortization
2,029
1,803
1,940
Allowance for equity during
construction
(121
)
(101
)
(104
)
Impairment and other (income) expense
(116
)
184
78
Gain on sale of lease interest and other
operating income
(133
)
(5
)
(7
)
Deferred income taxes
(296
)
(284
)
(527
)
Wildfire Insurance Fund amortization
expense
336
152
—
Other
36
34
42
Nuclear decommissioning trusts
(197
)
(106
)
(109
)
Contributions to Wildfire Insurance
Fund
(95
)
(2,457
)
—
Changes in operating assets and
liabilities:
Receivables
(283
)
(76
)
(39
)
Inventory
(43
)
(83
)
(49
)
Accounts payable
87
288
(31
)
Tax receivables and payables
113
88
32
Other current assets and liabilities
4
(13
)
(79
)
Regulatory assets and liabilities, net
(1,799
)
(1,278
)
(92
)
Wildfire-related insurance receivable
932
285
(2,000
)
Wildfire-related claims
(56
)
(101
)
4,669
Other noncurrent assets and
liabilities
(6
)
(42
)
(197
)
Net cash provided by (used in)
operating activities
1,263
(307
)
3,177
Cash flows from financing
activities:
Long-term debt issued, plus premium and
net of discount and issuance costs of $23, $(4) and $(63) for the
respective periods
3,073
3,696
3,237
Long-term debt repaid or repurchased
(1,099
)
(82
)
(654
)
Short-term debt borrowed
2,994
1,750
—
Short-term debt repaid
(1,126
)
(1,750
)
—
Common stock issued
912
2,391
—
Preferred and preference stock
redeemed
(308
)
—
—
Commercial paper and other short-term
borrowing (repayments), net
304
(172
)
(1,611
)
Dividends and distribution to
noncontrolling interests
(118
)
(121
)
(121
)
Dividends paid
(928
)
(810
)
(788
)
Other
23
1
19
Net cash provided by financing
activities
3,727
4,903
82
Cash flows from investing
activities:
Capital expenditures
(5,484
)
(4,877
)
(4,509
)
Proceeds from sale of nuclear
decommissioning trust investments
5,927
4,389
4,340
Purchases of nuclear decommissioning trust
investments
(5,730
)
(4,283
)
(4,231
)
Proceeds from sale of San Onofre nuclear
fuel
158
11
3
Proceeds from sale of lease investment
132
—
—
Other
26
82
158
Net cash used in investing
activities
(4,971
)
(4,678
)
(4,239
)
Net increase (decrease) in cash, cash
equivalents and restricted cash
19
(82
)
(980
)
Cash, cash equivalents and restricted cash
at beginning of year
70
152
1,132
Cash, cash equivalents and restricted
cash at end of year
$
89
$
70
152
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210225006163/en/
Investor Relations: Sam Ramraj, (626) 302-2540 Media Contact:
Jeff Monford, (626) 476-8120
Edison (NYSE:EIX)
Historical Stock Chart
From Mar 2024 to Apr 2024
Edison (NYSE:EIX)
Historical Stock Chart
From Apr 2023 to Apr 2024
