10-Q - Edison International

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Note 14.Other InvestmentsNuclear Decommissioning TrustsFuture decommissioning costs of removal of nuclear assets are expected to be funded from independent decommissioningtrusts, which currently receive contributions of approximately $23 million per year through SCE customer rates.Contributions to the decommissioning trusts are reviewed every three years by the CPUC. If additional funds are needed fordecommissioning, it is probable that the additional funds will be recoverable through customer rates. Funds collected,together with accumulated earnings, will be utilized solely for decommissioning. The CPUC has set certain restrictionsrelated to the investments of these trusts.The following table sets forth amortized cost and fair value of the trust investments:Amortized CostFair Value(in millions)LongestMaturityDatesMarch 31,2012December 31,2011March 31,2012December 31,2011Stocks — $ 885 $ 865 $ 2,124 $ 1,899Municipal bonds 2051 574 625 696 756U.S. government and agency securities 2041 596 516 642 580Corporate bonds 2054 305 259 369 317Short-term investments and receivables/payables One-year 21 38 22 40Total $ 2,381 $ 2,303 $ 3,853 $ 3,592Trust fund earnings (based on specific identification) increase the trust fund balance and the ARO regulatory liability.Proceeds from sales of securities (which are reinvested) were $602 million and $622 million for the three months endedMarch 31, 2012 and 2011, respectively. Unrealized holding gains, net of losses, were $1.5 billion and $1.3 billion atMarch 31, 2012 and December 31, 2011, respectively.The following table sets forth a summary of changes in the fair value of the trust:Three months ended March 31,(in millions) 2012 2011Balance at beginning of period $ 3,592 $ 3,480Gross realized gains 25 23Gross realized losses (4) —Unrealized gains (losses) – net 184 <strong>10</strong>2Other-than-temporary impairments (5) (9)Interest, dividends, contributions and other 61 23Balance at end of period $ 3,853 $ 3,619Due to regulatory mechanisms, earnings and realized gains and losses (including other-than-temporary impairments) have noimpact on operating revenue or earnings.21
Note 15.Other Income and ExpensesOther income and expenses are as follows:Three months ended March 31,(in millions) 2012 2011Other income:Equity allowance for funds used during construction $ 20 $ 29Increase in cash surrender value of life insurance policies 7 7Other 4 2Total other income $ 31 $ 38Other expenses:Civic, political and related activities and donations $ 6 $ 7Other 3 6Total other expenses $ 9 $ 1322
Page 1 and 2: (Mark One)UNITED STATESSECURITIES A
Page 3 and 4: Contractual Obligations and Conting
Page 5 and 6: NRCNSRPalo VerdePBOP(s)PBRPG&EPSDQF
Page 7 and 8: Consolidated Balance SheetsSouthern
Page 9: Consolidated Statements of Cash Flo
Page 13 and 14: The following table sets forth asse
Page 15 and 16: The following table sets forth a su
Page 17 and 18: Nuclear Decommissioning TrustsSCE's
Page 19 and 20: Contingent Features/Credit Related
Page 21 and 22: Postretirement Benefits Other Than
Page 23 and 24: and maintenance, monitoring and sit
Page 25: Note 12.Preferred and Preference St
Page 29 and 30: • transmission congestion in and
Page 31 and 32: esult in a revenue requirement redu
Page 33 and 34: • Higher depreciation, decommissi
Page 35 and 36: Some of the power procurement contr
Page 37 and 38: Credit RiskCredit risk exposure fro
Page 39 and 40: ITEM 6.EXHIBITSExhibitNumberDescrip
Page 41 and 42: Document and Entity InformationAppl
Page 43 and 44: SAMPLEJune 30,2011December 31,2010C
Page 45 and 46: 7e. Check section headings (includi
Page 47 and 48: 7h. Check section headings (includi
Page 49 and 50: Exhibit 32STATEMENT PURSUANT TO 18

10-Q - Edison International

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