10-Q - Edison International

Note 12.Preferred and Preference StockDuring the first quarter of 2012, SCE issued 350,000 shares of 6.25% Series E preference stock (cumulative, $1,000liquidation value). The Series E preference shares may not be redeemed prior to February 1, 2022. After February 1, 2022,SCE may at its option, redeem the shares, in whole or in part for a price of $1,000 per share plus accrued and unpaiddividends, if any. The shares are not subject to mandatory redemption. The proceeds from the sale of these shares were usedto repay commercial paper borrowings and to fund SCE's capital program.Note 13.Regulatory Assets and LiabilitiesRegulatory AssetsRegulatory assets included on the consolidated balance sheets are:March 31, December 31,(in millions) 2012 2011Current:Regulatory balancing accounts $ 362 $ 223Energy derivatives 320 264Other 10 7Total Current 692 494Long-term:Deferred income taxes – net 2,056 2,020Pensions and other postretirement benefits 1,688 1,703Energy derivatives 1,139 836Unamortized investments - net 497 484Unamortized loss on reacquired debt 244 249Nuclear-related investment – net 152 156Regulatory balancing accounts 84 69Other 264 298Total Long-term 6,124 5,815Total Regulatory Assets $ 6,816 $ 6,309Regulatory LiabilitiesRegulatory liabilities included on the consolidated balance sheets are:March 31, December 31,(in millions) 2012 2011Current:Regulatory balancing accounts $ 637 $ 661Other 8 9Total Current 645 670Long-term:Costs of removal 2,736 2,697Asset Retirement Obligations 1,322 1,105Regulatory balancing accounts 1,039 864Other 6 4Total Long-term 5,103 4,670Total Regulatory Liabilities $ 5,748 $ 5,34020