Edison International · NYSE:EIX
Edison International — Corporate Update (June 2013)
11 slides from Edison International's corporate update, Jun 7, 2013
Slide 1: SCE San Onofre Nuclear Generating Station Conference Call
Leading the Way in Electricity SM SCE San Onofre Nuclear Generating Station Conference Call June 7, 2013 0 EDISON INTERNATIONAL®
Slide 2: Forward-Looking Statements
Leading the Way in Electricity SM Forward-Looking Statements Statements contained in this presentation about future performance, including, without limitation, operating results, asset and rate base growth, capital expenditures, San Onofre Nuclear Generating Station (SONGS), regulatory outcomes, tax
Slide 3: SONGS – Supplemental Data
Leading the Way in Electricity SM SONGS – Supplemental Data ($ millions as of March 31, 2013) Outage Impacts (SCE share) Total Inspection & Repair Costs – Incurred $109 Net Market Costs – CPUC Basis1 $444 Regulatory (SCE share) Steam Generator Replacement (SGRP) – Approved2 $665 SGRP – Incurred $602
Slide 4: SONGS Accounting Background
Leading the Way in Electricity SM SONGS Accounting Background • Early Retirement - GAAP require reclassification of the amounts recorded in property, plant and equipment to a regulatory asset to the extent that management concludes it is probable such costs are recoverable through future rates • Sub
Slide 5: SONGS Estimated Impairment Range
Leading the Way in Electricity SM SONGS Estimated Impairment Range ($ millions as of March 31, 2013 except as noted) SONGS Impairment Exposures Total SONGS Net Investment $2,101 Since Since January 1, November 1, 2012 2012 Authorized Revenues To 3/31/13 $728 $185 Estimated for April-May 85 85 Total
Slide 6: SONGS Decommissioning Funding
Leading the Way in Electricity SM SONGS Decommissioning Funding ($ millions as of March 31, 2013) Unit 2 Unit 3 Combined Fund Assets $1,405 $1,600 $3,005 Fund Assets (after-tax) 1,286 1,452 2,738 2022 Decommissioning Costs – 2013$1 1,458 1,597 3,055 Funded Ratio 88% 91% 90% Target Funding Completion
Slide 7: Capital Expenditures Forecast
Leading the Way in Electricity SM Capital Expenditures Forecast ($ billions) $4.2 2013 – 14 Forecast $3.9 $4.0 by Classification $ % Generation 1.0 12 Transmission 2.2 27 Distribution 5.0 61 Forecast pending GRC Notice of Intent filing Q3 2013 Total 8.2 100 By Jurisdiction 2012 2013 2014 2015 2016 2
Slide 8: Rate Base Forecast
Leading the Way in Electricity SM Rate Base Forecast ($ billions) 7 – 8% Projected Rate Base Growth from 2013 – 14 $23.6 • Driven by infrastructure $21.8 replacement, reliability Smart investments, and public Grid policy requirements • FERC rate base includes Forecast pending GRC CWIP and is approxi
Slide 9: 2013 Core and Basic Earnings Guidance
Leading the Way in Electricity SM 2013 Core and Basic Earnings Guidance SONGS Guidance Changes: • $(0.15) per share from removal of $1.2 billion rate base effective in June pending regulatory treatment of return on investment 2013 Earnings 2013 Earnings Guidance as of Guidance as of • $(0.03) per sh
Slide 10: Appendix
Leading the Way in Electricity SM Appendix June 7, 2013 9 EDISON INTERNATIONAL®
Slide 11: Use of Non-GAAP Financial Measures
Leading the Way in Electricity SM Use of Non-GAAP Financial Measures Edison International's earnings are prepared in accordance with generally accepted accounting principles used in the United States. Management uses core earnings internally for financial planning and for analysis of performance. Co