Slide 1: First Quarter 2016 Financial Results
May 2, 2016 First Quarter 2016 Financial Results
Slide 2: Forward-Looking Statements
May 2, 2016 1 Forward-Looking Statements 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-
Slide 3: First Quarter Earnings Summary
May 2, 2016 2 Q1 2016 Q1 2015 Variance Core Earnings Per Share (EPS)1 SCE $0.88 $0.93 $(0.05) EIX Parent & Other (0.06) (0.03) (0.03) Core EPS1 $0.82 $0.90 $(0.08) Non-Core Items SCE $ $ $ EIX Parent & Other2 0.01 0.02 (0.01) Discontinued Operations Total Non-Core $0.01 $0.02 $(0.01) Bas
Slide 4: SCE Capital Expenditure Forecast Unchanged
May 2, 2016 3 • Reflects CPUC 2015 GRC decision • Includes up to 115% of capital spending for the pole loading and deteriorated poles program for 2016 and 20171 • Includes $12 million for Charge Ready pilot program in 2016 • Excludes future DRP and energy storage capital spending SCE Capital Expendi
Slide 5: SCE Rate Base Forecast Unchanged
May 2, 2016 4 SCE Rate Base Forecast Unchanged • Incorporates 2015 GRC final decision with bonus depreciation provision, except “rate base offset” excluded because of write off of regulatory asset related to 2012-2014 incremental tax repairs • Includes incremental rate base for the pole loading and
Slide 6: SCE Large Transmission Projects
May 2, 2016 5 SCE Large Transmission Projects Large Transmission Projects Tehachapi 4-11 • $2.5 billion total project cost; remaining investment $250 million • 2016-17 in service date West of Devers • $1.1 billion total project cost; remaining investment $1.0 billion • 2021 in service date; majority
Slide 7: 2016 Earnings Guidance
May 2, 2016 6 As of February 23, 2016 As of May 2, 2016 Low Mid High Low Mid High SCE $4.09 $4.09 EIX Parent & Other (0.18) (0.18) EIX Core EPS1 $3.81 $3.91 $4.01 $3.81 $3.91 $4.01 Non-Core Items2 - - - 0.01 0.01 0.01 EIX Basic EPS $3.81 $3.91 $4.01 $3.82 $3.92 $4.02 • Revenues based on GRC final de
Slide 8: Appendix
May 2, 2016 7 Appendix
Slide 9: Earnings Non-GAAP Reconciliations
May 2, 2016 8 Earnings Non-GAAP Reconciliations Note: See Use of Non-GAAP Financial Measures in Appendix ($ millions) Reconciliation of EIX Core Earnings to EIX GAAP Earnings Core Earnings SCE EIX Parent & Other Core Earnings Non-Core Items SCE EIX Parent & Other Discontinued operations Total Non-Co
Slide 10: Use of Non-GAAP Financial Measures
May 2, 2016 9 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. Core earnings are also