Edison International Reports Third Quarter 2018 Results
ROSEMEAD, Calif.--(BUSINESS WIRE)-- Edison International (NYSE: EIX) today reported third quarter 2018 net income of $513 million, or $1.57 per share, compared to net income of $470 million, or $1.44 per share, in the third quarter 2017. As adjusted, third quarter 2018 core earnings were $510 million, or $1.56 per share. There were no non-core items in the third quarter 2017.
Southern California Edison (SCE) is awaiting a proposed decision from the California Public Utilities Commission (CPUC) on its 2018 General Rate Case (GRC). Consequently, during the third quarter of 2018, SCE recognized revenue from CPUC activities largely based on 2017 authorized base revenue requirements included in customer rates with reserves taken for known items, including the July 2017 cost of capital decision and the Tax Cuts and Jobs Act (Tax Reform). The revenue requirement ultimately adopted by the CPUC will be retroactive to January 1, 2018.
SCE's third quarter 2018 earnings increased by $71 million, or $0.21 per share, from the third quarter 2017, consisting of $64 million, or $0.19 per share, of higher core earnings and $7 million, or $0.02 per share, of higher non-core earnings. The increase in core earnings resulted from lower operation and maintenance expenses due to regulatory deferrals for line clearing and wildfire insurance costs, the favorable impact of Tax Reform on incremental pre-tax earnings and higher revenue due to a reimbursement for spent nuclear fuel storage costs recorded in 2018. The higher non-core earnings for the third quarter 2018 related to the CPUC-mandated elimination of an obligation for SCE to fund a program intended to develop technologies and methodologies to reduce greenhouse gas (GHG) emissions. There were no SCE non-core items in the third quarter 2017 results.
Edison International Parent and Other’s third quarter 2018 losses from continuing operations increased by $28 million, or $0.08 per share, compared to third quarter 2017, consisting of $24 million, or $0.07 per share, of higher core losses and $4 million, or $0.01 per share, of higher non-core losses. The increase in core losses was due to the impact of Tax Reform in 2018 and the absence of tax benefits recorded in 2017. The higher non-core losses for the third quarter 2018 were due to a tax adjustment related to the sale of SoCore Energy. There were no Edison International Parent and Other non-core items in the third quarter 2017 results.
“During the quarter, we proposed additional capital investments with the Charge Ready application that support California’s climate change policies,” said Pedro Pizarro, president and chief executive officer of Edison International. “We will continue to work with the State’s leaders toward a comprehensive wildfire solution that is essential to protecting customers and communities in the future. In our ongoing efforts to incorporate leading mitigation measures, we have also proposed a grid safety and resiliency program that will further harden our infrastructure and enhance operational practices and situational awareness.”
Pizarro added, “Turning to the 2017 Wildfires, we continue to support the communities affected by these events by setting up a dedicated webpage for impacted customers and providing specially trained resources in our contact center. Additionally, our efforts to mitigate future wildfires are critical to the customers we serve. We are committed to helping our customers and communities recover and rebuild from these events, and communicating directly with them is another key element of our support. We have echoed some of the information provided in our SEC disclosures in a separate press release to facilitate this communication with our communities and other stakeholders.”
Year-to-Date Earnings
For the nine months ended September 30, 2018, Edison International reported net income of $1.0 billion, or $3.09 per share, compared to $1.1 billion, or $3.41 per share, during the same period in 2017. As adjusted, Edison International’s core earnings were $1.0 billion, or $3.21 per share, compared to $1.1 billion, or $3.41 per share, in the year-to-date period in 2017.
SCE is awaiting a proposed decision from the CPUC on its 2018 GRC. Consequently, during the first nine months of 2018, SCE recognized revenue from CPUC activities largely based on 2017 authorized base revenue requirements included in customer rates with reserves taken for known items, including the July 2017 cost of capital decision and Tax Reform. SCE's year-to-date 2018 earnings decreased by $2 million, or $0.01 per share, from the same period prior year, consisting of $9 million, or $0.03 per share, of lower core earnings and $7 million, or $0.02 per share, of higher non-core earnings. The decrease in core earnings resulted from higher operation and maintenance expenses related to wildfire insurance and higher net financing costs, partially offset by higher revenue. Revenue increased in 2018 due to a reimbursement for spent nuclear fuel storage costs recorded in 2018, a refund to customers for prior overcollections recorded in 2017 and higher income tax benefits. The increase in non-core earnings for year-to-date 2018 related to the CPUC-mandated elimination of an obligation for SCE to fund a program intended to develop technologies and methodologies to reduce GHG emissions. There were no SCE non-core items in the year-to-date 2017 results.
Edison International Parent and Other’s year-to-date 2018 losses from continuing operations increased by $101 million, or $0.31 per share, compared to the same period in 2017, consisting of $54 million, or $0.17 per share, of higher core losses and $47 million, or $0.14 per share, of higher non-core losses. The increase in core losses was due to the impact of Tax Reform in 2018 and the absence of tax benefits recorded in 2017, partially offset by lower corporate expenses in 2018 and a goodwill impairment recorded during 2017. The increase in non-core losses primarily consisted of the impact of the sale of SoCore Energy.
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.
About Edison International
Edison International (NYSE: EIX), through its subsidiaries, is a generator and distributor of electric power, as well as a provider of energy services and technologies, including renewable energy. Headquartered in Rosemead, California, Edison International is the parent company of Southern California Edison, one of the nation’s largest electric utilities. Edison International is also the parent company of Edison Energy, a portfolio of competitive businesses that provide commercial and industrial customers with energy management and procurement services. Edison Energy is independent from Southern California Edison.
Edison International Reports Third Quarter 2018 Financial Results
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 release about future performance, including, without limitation, operating results, rate base growth, 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. 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 costs related to uninsured wildfire-related and mudslide-related liabilities and capital spending incurred prior to explicit regulatory approval;
- ability to obtain sufficient insurance at a reasonable cost, including insurance relating to SCE's nuclear facilities and wildfire-related and mudslide-related exposure, and to recover the costs of such insurance or, in the absence of insurance, the ability to recover uninsured losses;
- 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, the 2018 GRC, the recoverability of wildfire-related and mudslide-related costs, and delays in regulatory actions;
- ability of Edison International or SCE to borrow funds and access the bank and capital markets on reasonable terms;
- actions by credit rating agencies to downgrade our credit ratings or those of our subsidiaries or to place those ratings on negative watch or outlook;
- risks associated with the decommissioning of San Onofre, including those related to public opposition, permitting, governmental approvals, on-site storage of spent nuclear fuel, delays, contractual disputes, and cost overruns;
- extreme weather-related incidents and other natural disasters (including earthquakes and events caused, or exacerbated, by climate change, such as wildfires), which could cause, among other things, public safety issues, property damage and operational issues;
- 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 CCAs and Electric Service Providers;
- 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 CAISO's transmission plans, and governmental approvals; and
- risks associated with the operation of transmission and distribution assets and power generating facilities, including public and employee safety issues, the risk of utility assets causing wildfires, failure, availability, efficiency and output of equipment and facilities, and availability and cost of spare parts.
Other important factors are discussed under the headings “Risk Factors” and “Management’s Discussion and Analysis” in Edison International’s Form 10-K, and other reports filed with the Securities and Exchange Commission, which are available on our website: www.edisoninvestor.com. These filings also provide additional information on historical and other factual data contained in this news release. Edison International and SCE provide direct links 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 at www.edisoninvestor.com (SCE Regulatory Highlights) so that such filings, rulings and notices are available to all investors. Edison International and SCE post or provide direct links to certain documents and information related to Southern California wildfires which may be of interest to investors at www.edisoninvestor.com (Southern California Wildfires) in order to publicly disseminate such information. Edison International and SCE also routinely post or provide direct links to presentations, documents and other information that may be of interest to investors at www.edisoninvestor.com (Events and Presentations) 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.
Reminder: Edison International Will Hold a Conference Call Today
| When: | � | Tuesday, October 30, 2018, 1:30 p.m. (Pacific Time) |
| Telephone Numbers: | 1-888-673-9780 (US) and 1-312-470-0178 (Int'l) - Passcode: Edison | |
| Telephone Replay: | 1-800-944-1822 (US) and 1-203-369-3872 (Int’l) - Passcode: 9856 | |
| Telephone replay available through November 15, 2018 | ||
| Webcast: | ||
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Third Quarter Reconciliation of Basic Earnings Per Share to Core Earnings Per Share |
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| � | � | 2018 | � | 2017 | � | Change | � | 2018 | � | 2017 | � | Change | ||||||||||||
| Earnings (loss) per share attributable to Edison International | � | |||||||||||||||||||||||
| Continuing operations | � | |||||||||||||||||||||||
| SCE | $ | 1.64 | $ | 1.43 | $ | 0.21 | $ | 3.43 | $ | 3.44 | $ | (0.01 | ) | |||||||||||
| Edison International Parent and Other | (0.07 | ) | � | 0.01 | � | � | (0.08 | ) | � | (0.34 | ) | � | (0.03 | ) | � | (0.31 | ) | |||||||
| Edison International | 1.57 | � | � | 1.44 | � | � | 0.13 | � | � | 3.09 | � | � | 3.41 | � | � | (0.32 | ) | |||||||
| Less: Non-core items | ||||||||||||||||||||||||
| SCE | 0.02 | — | 0.02 | 0.02 | — | 0.02 | ||||||||||||||||||
| Edison International Parent and Other | (0.01 | ) | � | — | � | � | (0.01 | ) | � | (0.14 | ) | � | — | � | � | (0.14 | ) | |||||||
| Total non-core items | 0.01 | � | � | — | � | � | 0.01 | � | � | (0.12 | ) | � | — | � | � | (0.12 | ) | |||||||
| Core earnings (losses) | ||||||||||||||||||||||||
| SCE | 1.62 | 1.43 | 0.19 | 3.41 | 3.44 | (0.03 | ) | |||||||||||||||||
| Edison International Parent and Other | (0.06 | ) | � | 0.01 | � | � | (0.07 | ) | � | (0.20 | ) | � | (0.03 | ) | � | (0.17 | ) | |||||||
| Edison International | � | $ | 1.56 | � | � | $ | 1.44 | � | � | $ | 0.12 | � | � | $ | 3.21 | � | � | $ | 3.41 | � | � | $ | (0.20 | ) |
Note: Diluted earnings were $1.57 and $1.43 per share for the three months ended September 30, 2018 and 2017, respectively and $3.08 and $3.38 per share for the nine months ended September 30, 2018 and 2017, respectively.
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Third Quarter Reconciliation of Basic Earnings to Core Earnings (in millions) |
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| (in millions) | � | 2018 | � | 2017 | � | Change | � | 2018 | � | 2017 | � | Change | ||||||||||||
| Net income (loss) attributable to Edison International | � | |||||||||||||||||||||||
| Continuing operations | � | |||||||||||||||||||||||
| SCE | $ | 536 | $ | 465 | $ | 71 | $ | 1,119 | $ | 1,121 | $ | (2 | ) | |||||||||||
| Edison International Parent and Other | (23 | ) | � | 5 | � | � | (28 | ) | � | (112 | ) | � | (11 | ) | � | (101 | ) | |||||||
| Edison International | 513 | � | � | 470 | � | � | 43 | � | � | 1,007 | � | � | 1,110 | � | � | (103 | ) | |||||||
| Less: Non-core items | ||||||||||||||||||||||||
| SCE | 7 | — | 7 | 7 | — | 7 | ||||||||||||||||||
| Edison International Parent and Other | (4 | ) | � | — | � | � | (4 | ) | � | (46 | ) | � | 1 | � | � | (47 | ) | |||||||
| Total non-core items1 | 3 | � | � | — | � | � | 3 | � | � | (39 | ) | � | 1 | � | � | (40 | ) | |||||||
| Core earnings (losses) | ||||||||||||||||||||||||
| SCE | 529 | 465 | 64 | 1,112 | 1,121 | (9 | ) | |||||||||||||||||
| Edison International Parent and Other | (19 | ) | � | 5 | � | � | (24 | ) | � | (66 | ) | � | (12 | ) | � | (54 | ) | |||||||
| Edison International | � | $ | 510 | � | � | $ | 470 | � | � | $ | 40 | � | � | $ | 1,046 | � | � | $ | 1,109 | � | � | $ | (63 | ) |
1 Non-core income of $3 million ($11 million pre-tax) and non-core losses of $39 million ($46 million pre-tax) for the three and nine months ended September 30, 2018, respectively. Non-core income for the three months ended September 30, 2018 related to the CPUC-mandated elimination of an obligation for SCE to fund a research, development and demonstration program intended to develop technologies and methodologies to reduce greenhouse gas emissions, partially offset by a tax adjustment related to the sale of SoCore Energy. Non-core losses for the nine months ended September 30, 2018 primarily consisted of the impact of the sale of SoCore Energy in April 2018.
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| (in millions, except per-share amounts, unaudited) | � | 2018 | � | 2017 | � | 2018 | � | 2017 | ||||||||
| Total operating revenue | $ | 4,269 | � | � | $ | 3,672 | � | � | $ | 9,648 | � | � | $ | 9,100 | � | |
| Purchased power and fuel | 2,306 | 1,783 | 4,344 | 3,742 | ||||||||||||
| Operation and maintenance | 674 | 721 | 2,068 | 2,031 | ||||||||||||
| Depreciation and amortization | 466 | 524 | 1,391 | 1,535 | ||||||||||||
| Property and other taxes | 97 | 98 | 301 | 284 | ||||||||||||
| Impairment and other | (11 | ) | — | 60 | 22 | |||||||||||
| Other operating income | (2 | ) | � | (7 | ) | � | (5 | ) | � | (8 | ) | |||||
| Total operating expenses | 3,530 | � | � | 3,119 | � | � | 8,159 | � | � | 7,606 | � | |||||
| Operating income | 739 | 553 | 1,489 | 1,494 | ||||||||||||
| Interest expense | (188 | ) | (162 | ) | (538 | ) | (473 | ) | ||||||||
| Other income and expense | 76 | � | � | 41 | � | � | 176 | � | � | 98 | � | |||||
| Income from continuing operations before income taxes | 627 | 432 | 1,127 | 1,119 | ||||||||||||
| Income tax expense (benefit) | 83 | � | � | (69 | ) | � | 43 | � | � | (83 | ) | |||||
| Income from continuing operations | 544 | � | � | 501 | � | � | 1,084 | � | � | 1,202 | � | |||||
| Net income | 544 | 501 | 1,084 | 1,202 | ||||||||||||
| Preferred and preference stock dividend requirements of SCE | 31 | 32 | 91 | 94 | ||||||||||||
| Other noncontrolling interests | — | � | � | (1 | ) | � | (14 | ) | � | (2 | ) | |||||
| Net income attributable to Edison International common shareholders | 513 | � | � | 470 | � | � | 1,007 | � | � | 1,110 | � | |||||
| Amounts attributable to Edison International common shareholders: | ||||||||||||||||
| Income from continuing operations, net of tax | $ | 513 | � | � | $ | 470 | � | � | $ | 1,007 | � | � | $ | 1,110 | � | |
| Net income attributable to Edison International common shareholders | $ | 513 | � | � | $ | 470 | � | � | $ | 1,007 | � | � | $ | 1,110 | � | |
| Basic earnings per share: | ||||||||||||||||
| Weighted-average shares of common stock outstanding | 326 | � | � | 326 | � | � | 326 | � | � | 326 | � | |||||
| Basic earnings per common share attributable to Edison International common shareholders | $ | 1.57 | � | � | $ | 1.44 | � | � | $ | 3.09 | � | � | $ | 3.41 | � | |
| Diluted earnings per share: | ||||||||||||||||
| Weighted-average shares of common stock outstanding, including effect of dilutive securities | 327 | � | � | 328 | � | � | 327 | � | � | 329 | � | |||||
| Diluted earnings per common share attributable to Edison International common shareholders | $ | 1.57 | � | � | $ | 1.43 | � | � | $ | 3.08 | � | � | $ | 3.38 | � | |
| Dividends declared per common share | � | $ | 0.6050 | � | � | $ | 0.5425 | � | � | $ | 1.8150 | � | � | $ | 1.6275 | � |
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| ASSETS |
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| Cash and cash equivalents | $ | 71 | $ | 1,091 | |||
| Receivables, less allowances of $56 and $54 for uncollectible accounts at respective dates | 1,044 | 717 | |||||
| Accrued unbilled revenue | 505 | 212 | |||||
| Inventory | 261 | 242 | |||||
| Income tax receivables | 167 | 224 | |||||
| Prepaid expenses | 188 | 233 | |||||
| Derivative assets | 77 | 105 | |||||
| Regulatory assets | 913 | 703 | |||||
| Other current assets | 157 | � | � | 202 | |||
| Total current assets | 3,383 | � | � | 3,729 | |||
| Nuclear decommissioning trusts | 4,330 | 4,440 | |||||
| Other investments | 59 | � | � | 73 | |||
| Total investments | 4,389 | � | � | 4,513 | |||
| Utility property, plant and equipment, less accumulated depreciation and amortization of $9,533 and $9,355 at respective dates | 40,333 | 38,708 | |||||
| Nonutility property, plant and equipment, less accumulated depreciation of $80 and $114 at respective dates | 79 | � | � | 342 | |||
| Total property, plant and equipment | 40,412 | � | � | 39,050 | |||
| Regulatory assets | 5,046 | 4,914 | |||||
| Other long-term assets | 333 | � | � | 374 | |||
| Total long-term assets | 5,379 | � | � | 5,288 | |||
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| Total assets | � | $ | 53,563 | � | � | $ | 52,580 |
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| Consolidated Balance Sheets | Edison International | |||||||
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| LIABILITIES AND EQUITY | ||||||||
| Short-term debt | $ | 103 | $ | 2,393 | ||||
| Current portion of long-term debt | 79 | 481 | ||||||
| Accounts payable | 1,288 | 1,503 | ||||||
| Accrued taxes | 102 | 23 | ||||||
| Customer deposits | 297 | 281 | ||||||
| Regulatory liabilities | 1,599 | 1,121 | ||||||
| Other current liabilities | 1,251 | � | � | 1,266 | � | |||
| Total current liabilities | 4,719 | � | � | 7,068 | � | |||
| Long-term debt | 14,629 | � | � | 11,642 | � | |||
| Deferred income taxes and credits | 5,043 | 4,567 | ||||||
| Pensions and benefits | 897 | 943 | ||||||
| Asset retirement obligations | 2,890 | 2,908 | ||||||
| Regulatory liabilities | 8,463 | 8,614 | ||||||
| Other deferred credits and other long-term liabilities | 2,633 | � | � | 2,953 | � | |||
| Total deferred credits and other liabilities | 19,926 | � | � | 19,985 | � | |||
| Total liabilities | 39,274 | � | � | 38,695 | � | |||
| Commitments and contingencies | ||||||||
| Redeemable noncontrolling interest | — | 19 | ||||||
| Common stock, no par value (800,000,000 shares authorized; 325,811,206 shares issued and outstanding at respective dates) | 2,541 | 2,526 | ||||||
| Accumulated other comprehensive loss | (42 | ) | (43 | ) | ||||
| Retained earnings | 9,597 | � | � | 9,188 | � | |||
| Total Edison International's common shareholders' equity | 12,096 | 11,671 | ||||||
| Noncontrolling interests – preferred and preference stock of SCE | 2,193 | 2,193 | ||||||
| Other noncontrolling interests | — | � | � | 2 | � | |||
| Total Equity | 14,289 | � | � | 13,866 | � | |||
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| Total liabilities and equity | � | $ | 53,563 | � | � | $ | 52,580 | � |
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| (in millions, unaudited) | � | 2018 | � | 2017 | ||||
| Cash flows from operating activities: | � | |||||||
| Net income | $ | 1,084 | $ | 1,202 | ||||
| Adjustments to reconcile to net cash provided by operating activities: | ||||||||
| Depreciation and amortization | 1,639 | 1,591 | ||||||
| Allowance for equity during construction | (76 | ) | (65 | ) | ||||
| Impairment and other | 60 | 22 | ||||||
| Deferred income taxes and investment tax credits | 133 | 77 | ||||||
| Other | 48 | 17 | ||||||
| Nuclear decommissioning trusts | (86 | ) | (117 | ) | ||||
| Changes in operating assets and liabilities: | ||||||||
| Receivables | (325 | ) | (387 | ) | ||||
| Inventory | (25 | ) | 10 | |||||
| Accounts payable | 20 | (11 | ) | |||||
| Tax receivables and payables | 137 | (128 | ) | |||||
| Other current assets and liabilities | (424 | ) | (40 | ) | ||||
| Regulatory assets and liabilities, net | 213 | 560 | ||||||
| Other noncurrent assets and liabilities | (127 | ) | � | (33 | ) | |||
| Net cash provided by operating activities | 2,271 | � | � | 2,698 | � | |||
| Cash flows from financing activities: | ||||||||
| Long-term debt issued or remarketed, net of (discount) premium and issuance costs of $(63) and $1 for respective periods | 3,237 | 2,236 | ||||||
| Long-term debt matured | (654 | ) | (1,182 | ) | ||||
| Preference stock issued, net | — | 463 | ||||||
| Preference stock redeemed | — | (475 | ) | |||||
| Short-term debt financing, net | (2,228 | ) | (401 | ) | ||||
| Payments for stock-based compensation | (37 | ) | (365 | ) | ||||
| Receipts from stock option exercises | 20 | 201 | ||||||
| Dividends and distributions to noncontrolling interests | (96 | ) | (100 | ) | ||||
| Dividends paid | (591 | ) | (530 | ) | ||||
| Other | 38 | � | � | (23 | ) | |||
| Net cash used in financing activities | (311 | ) | � | (176 | ) | |||
| Cash flows from investing activities: | ||||||||
| Capital expenditures | (3,241 | ) | (2,674 | ) | ||||
| Proceeds from sale of nuclear decommissioning trust investments | 3,017 | 3,974 | ||||||
| Purchases of nuclear decommissioning trust investments | (2,931 | ) | (3,857 | ) | ||||
| Proceeds from sale of SoCore Energy, net of cash acquired by buyer | 78 | — | ||||||
| Other | 64 | � | � | 54 | � | |||
| Net cash used in investing activities | (3,013 | ) | � | (2,503 | ) | |||
| Net (decrease) increase in cash, cash equivalents and restricted cash | (1,053 | ) | 19 | |||||
| Cash, cash equivalents and restricted cash at beginning of period | 1,132 | � | � | 114 | � | |||
| Cash, cash equivalents and restricted cash at end of period | � | $ | 79 | � | � | $ | 133 | � |
View source version on businesswire.com: https://www.businesswire.com/news/home/20181030006003/en/
Edison International
Investor relations contact:
Sam
Ramraj, (626) 302-2540
or
Media relations contact:
Charles
Coleman, (626) 302-7982
Source: Edison International