11-K 1 eix-20201231x11k.htm FORM 11-K EDISON INTERNATIONAL 401(K) PLAN 2020

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549


FORM 11-K

FOR ANNUAL REPORTS OF EMPLOYEE STOCK

PURCHASE, SAVINGS AND SIMILAR PLANS

PURSUANT TO SECTION 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

(Mark One):

ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2020

OR

TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ______________ to ______________

Commission File Number 1-9936

EDISON 401(K) SAVINGS PLAN

(Full Title of the Plan)

EDISON INTERNATIONAL

(Name of Issuer)

2244 Walnut Grove Avenue (P.O. Box 976), Rosemead, California 91770

(Address of principal executive office)


Edison 401(k) Savings Plan


Financial Statements and Supplemental Schedules

As of December 31, 2020 and 2019 and for the Year Ended December 31, 2020


TABLE OF CONTENTS

Reports of Independent Registered Public Accounting Firms

4

Financial Statements

Statements of Net Assets Available for Plan Benefits as of December 31, 2020 and 2019

7

Statement of Changes in Net Assets Available for Plan Benefits for the year ended December 31, 2020

8

Notes to Financial Statements

9

Supplemental Schedules

Form 5500, Schedule G, Part III - Schedule of Nonexempt Transactions

18

Form 5500, Schedule H, Line 4i-Schedule of Assets (Held at End of Year)

19

Signature

42

Consents of Independent Registered Public Accounting Firms

Exhibit 23

Note:  All schedules other than that listed above have been omitted since the information is either disclosed elsewhere in the financial statements or not required by 29 CFR 2520.103-10 of the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974, as amended.

3


Report of Independent Registered Public Accounting Firm

Plan Administrator and Participants

Edison 401(k) Savings Plan

Rosemead, California

Opinion on the Financial Statements

We have audited the accompanying statement of net assets available for benefits of  Edison 401(k) Savings Plan (the Plan) as of December 31, 2020, the related statement of changes in net assets available for benefits for the year then ended, and the related notes to the financial statements (collectively, the financial statements).  In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2020, and the changes in net assets available for benefits for the year then ended, in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on the Plan's financial statements based on our audit.  We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Plan in accordance with U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.  Our audit included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks.  Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.  Our audit also included evaluating accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion.

Report on Supplemental Information

The supplemental information in the accompanying schedule of nonexempt transactions for the year ended December 31, 2020, and the schedule of assets (held at end of year) as of December 31, 2020, have been subjected to audit procedures performed in conjunction with the audit of the Plan's financial statements. The supplemental information is presented for the purpose of additional analysis and is not a required part of the financial statements but includes supplemental information required by the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. The supplemental information is the responsibility of the Plan’s management. Our audit procedures included determining whether the supplemental information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental information. In forming our opinion on the supplemental information in the accompanying schedules, we evaluated whether the supplemental information, including its form and content, is presented in conformity with the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental information in the accompanying schedules is fairly stated in all material respects in relation to the financial statements as a whole.

4


Other Matter - 2019 Financial Statements

The financial statements of the Plan as of December 31, 2019, were audited by other auditors whose report, dated June 26, 2020, expressed an unmodified opinion on those statements.

/s/ Vasquez & Company LLP

We have served as the Plan's auditor since 2021.

Glendale, California

June 29, 2021

5


Report of Independent Registered Public Accounting Firm

Plan Administrator and Participants

Edison 401(k) Savings Plan

Rosemead, California

Opinion on the Financial Statements

We have audited the accompanying statement of net assets available for benefits of the Edison 401(k) Savings Plan (the "Plan") as of December 31, 2019, and the related notes (collectively, the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2019, in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on the Plan's financial statements based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audit we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Plan's internal control over financial reporting. Accordingly, we express no such opinion.

Our audit included performing procedures to assess the risk of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audit also included evaluating the accounting principles used and significant estimates made by the Plan's management, as well as evaluating the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion.

/s/ BDO USA, LLP

We served as the Plan's auditor from 2001 to 2020.

Costa Mesa, California

June 26, 2020

6


Financial Statements


Statements of Net Assets Available for Plan Benefits

Edison 401(k) Savings Plan

December 31, 

(in thousands)

    

2020

    

2019

Assets

Investments, at fair value

$

5,230,340

$

4,748,365

Receivables

 

 

  

Notes receivable from participants

 

81,957

 

84,843

Dividends receivable

 

5,115

 

4,835

Receivable from brokers and other

 

13,807

 

12,412

Total receivables

 

100,879

 

102,090

Total assets

 

5,331,219

 

4,850,455

Liabilities

 

  

 

  

Payable to brokers and other

 

61,961

 

49,536

Total liabilities

 

61,961

 

49,536

Net assets available for plan benefits

$

5,269,258

$

4,800,919

See accompanying notes to financial statements.

7


Statement of Changes in Net Assets Available for Plan Benefits

Edison 401(k) Savings Plan

    

For the year ended

(in thousands)

    

December 31, 2020

Additions

 

  

Investment income

 

  

Dividends

$

31,356

Interest income and other

 

10,275

Net appreciation in fair value of investments

 

527,402

Total investment income

 

569,033

Interest income on notes receivable from participants

 

4,448

Contributions

 

Employer contributions, net of forfeitures

 

92,184

Participant and rollover contributions

 

164,270

Total net contributions

 

256,454

Total additions

 

829,935

Deductions

 

  

Management fees

 

(4,625)

Distributions to participants

 

(356,971)

Total deductions

 

(361,596)

Net Increase

 

468,339

Net assets available for plan benefits

 

  

Beginning of year

 

4,800,919

End of year

$

5,269,258

See accompanying notes to financial statements.

8


NOTES TO FINANCIAL STATEMENTS

1. Plan Description

The following description of the Edison 401(k) Savings Plan (the "Plan") provides only general information. The Plan sponsor is the Southern California Edison Company ("SCE", the "Plan Sponsor"). Participants should refer to the summary plan description and Plan document, as amended, for a more complete description of the Plan’s provisions.

Nature of Plan

Eligibility

The Plan is a defined-contribution plan with a 401(k) feature, in which qualifying full-time and part-time employees of Edison International (the "Company") and subsidiary companies, including SCE, are eligible to participate. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 ("ERISA"), as amended. An employee, as defined by the Plan document, is eligible to participate in the Plan immediately upon employment.

Contributions

Subject to statutory limits, all participants may defer pre-tax and after-tax dollars up to 84% of eligible pay. Participating employers provide matching contributions up to 6% of a participant’s eligible pay. The Company allows employees who have attained age fifty before the close of a Plan year to make catch up contributions subject to Internal Revenue Service ("IRS") limitations. The Plan also accepts rollover contributions from other qualified plans. In addition to the matching contributions mentioned above, employees hired by the Company on or after December 31, 2017 will receive noncontributory employer contributions of 6% for non-represented employees and 4-6%, based on age and service points, for represented employees.

Vesting

Participants immediately vest in their contributions plus actual earnings thereon. Employer contributions plus actual earnings thereon vest at a rate of 20% per year. After five years of service or reaching age 65, all existing and future employer contributions and their related earnings are fully vested.

Forfeitures

Forfeited non-vested accounts are used to offset employer contributions. At December 31, 2020 and 2019, the unused portion of forfeited non-vested accounts totaled approximately $31,000 and $19,000, respectively. During 2020, there were $1,029,000 of new forfeited non-vested accounts, of which approximately $1,017,000 were used to reduce employer contributions.

Plan Trust

Plan assets are held in a trust with State Street Bank and Trust Company (the "Trustee") for the benefit of participants and their beneficiaries. The mutual covenants to which the Plan Sponsor and the Trustee agree are disclosed in the trust agreement between the Plan Sponsor and the Trustee. Participants should refer to the trust agreement for a more complete description of the mutual covenants.

Plan Administration

The Plan is administered by the Southern California Edison Company Benefits Committee (the "Plan Administrator") and Conduent Inc. is the Plan’s record keeper. The Plan provides to participants a detailed description of each investment fund choice and lists the respective investment manager.

9


Administrative and Investment Expenses

The Plan Sponsor pays the cost of administering the Plan, including fees and expenses of the Trustee and record keeper. The fees, taxes and other expenses incurred by the Trustee or investment managers in making investments are paid out of the applicable investment funds. These expenses also include brokerage fees for sales or purchases of Edison International Common Stock on the open market. No additional costs are incurred in connection with sales of Edison International Common Stock within the trust or the transfer of assets between funds.

Participant Accounts

Each participant account is adjusted for certain activities, including a participant’s contribution, the employer’s contribution, distributions, loan activities, and allocation of investment earnings (losses) and related expenses. Allocation of earnings (losses) and related expenses is based on account balances. The benefit to which a participant is entitled is the benefit that can be provided from the vested portion of the participant’s account.

Notes Receivable from Participants

Participants may borrow from the vested portion of their account, a minimum of $1,000 to a maximum of $50,000, with certain restrictions. Loan transactions are treated as transfers from (to) the investment fund to (from) participant loans. Loan terms range from one to four years for general purpose loans or up to 15 years for the purchase of a primary residence. Loans bear interest at the prime rate in effect at time of loan issuance plus one percent. Interest rates on outstanding loans range from 4.23% to 10.51% as of December 31, 2020 and mature on various dates through January 2036. Principal and interest are paid ratably through payroll deductions and are reinvested in the participant’s account. Some separated participants may repay loan obligations directly, rather than through payroll deductions. Participant loans amounted to approximately $81,957,000 and $84,843,000 as of December 31, 2020 and 2019, respectively.

Distributions to Participants

Account balances are distributed as soon as practicable after a participant dies, becomes entitled to and requests a distribution, or terminates employment with an account balance of $5,000 or less. Participants may otherwise delay distribution, subject to the minimum distribution requirements under Internal Revenue Code ("IRC") Section 401(a)-(9). Participants may receive lump sum distributions. An installment form of distribution payment is also available to certain participants. In-service withdrawals may be taken from after-tax contributions, upon attainment of age 59½, or for certain financial hardships. Participants taking in-service withdrawals will be required to pay all applicable taxes on the withdrawals and may be subject to penalty taxes for early withdrawals taken prior to age 59½. Participants who terminate employment with a vested account balance greater than $1,000 but less than or equal to $5,000 will have their vested account balance automatically rolled over to individual retirement accounts ("IRA") selected by the Chair or Secretary of the Plan Administrator, unless the participants make a timely distribution election.

CARES Act

In March 2020, the Coronavirus Aid, Relief, and Economic Security Act (the "CARES Act") became law. The CARES Act, among other things, includes several relief provisions available to tax-qualified retirement plans and their participants. The Benefits Committee evaluated the relief provisions under the CARES Act available to plan participants and implemented the following provisions to qualified individuals, those who themselves or whose spouse/dependent was diagnosed with COVID-19 or experienced adverse financial consequences due to COVID-19:

In-service withdrawals of up to $100,000 of vested balance available through December 31, 2020, after first taking all available loans from the Plan.
A temporary additional loan and relaxation of current requirements for loans taken through September 22, 2020, based on the lesser of 50% of the vested account balance or $50,000.
A temporary allowance for employees to defer loan repayments through December 31, 2020 for one year.

10


The Setting Every Community Up for Retirement Enhancement Act ( the "SECURE Act") was passed into law in December 2019. In February 2020, the Required Minimum Distributions ("RMD") age was amended from age 70½ to age 72 under the provisions of the SECURE Act. In addition, following the CARES Act, the required minimum distributions that would have been due in 2020 as a result of a former employee reaching age 72 are temporarily waived.

2. Summary of Significant Accounting Policies

Basis of Accounting

The financial statements are prepared and presented on the accrual basis of accounting and in conformity with U.S. generally accepted accounting principles ("GAAP") applicable to employee benefit plans and ERISA.

Use of Estimates

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, and changes therein, and disclosure of contingent assets and liabilities. Actual results could differ materially from those estimates.

Risks and Uncertainties

The Plan’s investment in Edison International Common Stock amounted to approximately $442,476,000 and $512,449,000 as of December 31, 2020 and 2019, respectively. Such investments represented approximately 8% and 11% of the Plan’s net assets as of December 31, 2020 and 2019. For risks and uncertainties regarding investment in the Company’s common stock, participants should refer to the Edison International annual report on Form 10-K for the year ended December 31, 2020, and the quarterly report on Form 10-Q for the period ended March 31, 2021.

The Plan provides for various funds that hold investment securities. Investment securities are exposed to various risks such as interest rate, market, and credit risks. Due to the level of risk associated with certain investment securities and the level of uncertainty related to changes in the value of investment securities, it is at least reasonably possible that changes in risk in the near term could materially affect participants’ account balances and the amounts reported in the Statements of Net Assets Available for Plan Benefits and the Statement of Changes in Net Assets Available for Plan Benefits.

The Plan participates in various investment options that include securities of foreign companies, which involve special risks and considerations not typically associated with investing in U.S. companies. These risks include devaluation of currencies, less reliable information about issuers, different securities transaction clearance and settlement practices, and possible adverse political and economic developments. Moreover, securities of many foreign companies and their markets may be less liquid and their prices more volatile than securities of comparable U.S. companies.

Investment Valuation and Income Recognition

The Plan’s investments are stated at fair value. Purchases and sales of securities are recorded on a trade-date basis. Interest income is recorded on the accrual basis. Dividends are recorded on the ex-dividend date. See Note 3 for details.

Net Appreciation (Depreciation) in Fair Value of Investments

Realized and unrealized appreciation (depreciation) in the fair value of investments is based on the difference between the fair value of the assets at the beginning of the year, or at the time of purchase for assets purchased during the year, and the related fair value on the day investments are sold with respect to realized appreciation (depreciation), or on the last day of the year for unrealized appreciation (depreciation).

Notes Receivable from Participants

Notes receivable from participants are measured at their unpaid principal balance plus any accrued but unpaid interest.

11


Notes receivable from participants that are in default, as provided in the Plan document, are treated for tax purposes as deemed distributions for active participants or loan offsets for terminated participants and also reported as such in the Form 5500. For the year ended December 31, 2020, there were deemed distributions, excluding repayments, of approximately $41,000 and loan offsets of approximately $2,182,000 related to notes receivable from participants. The loan offsets are included in "Distributions to participants" in the Statements of Changes in Net Assets Available for Plan Benefits.

Distributions to Participants

Distributions to participants, other than notes receivable from participants, are recorded when paid.

New Accounting Guidance

Accounting Guidance Adopted

In June 2016, the Financial Accounting Standards Board ("FASB") issued an accounting standards update to require the use of the current expected credit loss model to measure impairment of financial assets measured at amortized cost and the use of an allowance to record estimated credit losses on available-for-sale debt securities. The Plan early adopted this guidance on January 1, 2020. The adoption of this guidance did not have a material impact on the Plan’s financial statements or disclosures.

In August 2018, the FASB issued an accounting standards update to remove, modify, and add certain disclosure requirements related to fair value measurement. The Plan adopted this guidance on January 1, 2020. The adoption of this guidance did not have a material impact on disclosures. See Note 3 for disclosures on fair value measurements.

Subsequent Events

The Plan has evaluated subsequent events through the date the financial statements were available to be issued.

3. Fair Value Measurements

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (referred to as an "exit price"). Fair value of an asset or liability considers assumptions that market participants would use in pricing the asset or liability, including assumptions about nonperformance risk. The Plan categorizes financial assets and liabilities into a three-level fair value hierarchy based on valuation inputs used to derive fair value. The hierarchy gives the highest priority to unadjusted quoted market prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are:

Level 1: The fair value of Level 1 assets and liabilities is determined using unadjusted quoted prices in active markets that are available at the measurement date for identical assets and liabilities;
Level 2: Pricing inputs other than Level 1 that are observable, either directly or indirectly, such as quoted market prices for similar assets; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the financial instrument; and
Level 3: The fair value of Level 3 assets and liabilities is determined using the income approach through various models and techniques that require significant unobservable inputs. The Plan does not have any Level 3 assets and liabilities.

The asset or liability’s fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques maximize the use of observable inputs and minimize the use of unobservable inputs. There were no changes in the valuation methods during 2020 and 2019. Plan assets carried at fair value are described below.

12


Edison International Common Stock and investments in equity mutual funds are valued at the unadjusted quoted prices in active or highly liquid and transparent markets and are classified as Level 1.

Investments in separately managed accounts ("separate accounts") are managed by external investment managers and include the following: Cash and short-term interest bearing investments with initial maturities of three months or less are recorded at cost, plus accrued interest, which approximates fair value. The value of equity investments, real estate investment trusts, and US Treasury investments in separate accounts is based on quoted market prices in active or highly liquid and transparent markets and is therefore classified as Level 1. The fair value of fixed income investments, including asset-backed securities, in separate accounts is based on evaluated prices that reflect significant observable market information but are classified as Level 2 because they trade in markets that are not considered active. Separate accounts also include minor investments in derivative contracts, including options and futures traded in active markets and swap contracts valued at fair value, as determined by the investment managers taking into consideration exchange quotations on underlying instruments, dealer quotations and other market information.

The self-directed brokerage accounts contain investments stated at quoted market prices for equities and mutual funds, and therefore, are classified as Level 1. Fixed income investments in this category are classified as Level 2.

The preceding methods described may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, although the Plan believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date.

The following presents information about the Plan’s investments that are measured at fair value on a recurring basis as of December 31, 2020 and 2019, by level within the fair value hierarchy:

Investments at Fair Value as of December 31, 2020

(in thousands)

    

Level 1

    

Level 2

    

NAV 1

    

Total

Edison International Common Stock Fund

$

442,476

$

$

$

442,476

Money market fund

 

2,054

465,138

 

467,192

Self-directed brokerage accounts

 

780,624

8,027

 

788,651

Mutual fund

 

244,634

 

244,634

Collective investment funds

 

67

2,461,482

 

2,461,549

Separate managed funds:

 

 

  

Cash and other short-term investments

 

4,591

2,370

22,111

 

29,072

Mutual funds

 

32,127

 

32,127

Fixed income securities 2

 

41,213

217,382

 

258,595

Common and preferred stocks

 

498,022

75

 

498,097

Other

 

7,947

 

7,947

Total separate managed funds

 

543,826

 

227,774

 

54,238

 

825,838

Total investments at fair value

$

2,013,681

$

235,801

$

2,980,858

$

5,230,340

13


Investments at Fair Value as of December 31, 2019

(in thousands)

    

Level 1

    

Level 2

    

NAV 1

    

Total

Edison International Common Stock Fund

$

510,433

$

$

2,016

$

512,449

Money market fund

 

2,129

 

 

424,804

 

426,933

Self-directed brokerage accounts

 

581,073

 

7,653

 

 

588,726

Mutual fund

 

216,856

 

 

 

216,856

Collective investment funds

 

 

 

2,202,720

 

2,202,720

Separate managed funds:

 

  

 

  

 

  

 

  

Cash and other short-term investments

 

6,458

 

1,004

 

8,322

 

15,784

Mutual funds

 

 

 

605

 

605

Fixed income securities 2

 

53,897

 

203,310

 

 

257,207

Common and preferred stocks

 

521,059

 

276

 

 

521,335

Other

 

 

5,750

 

 

5,750

Total separate managed funds

 

581,414

 

210,340

 

8,927

 

800,681

Total investments at fair value

$

1,891,905

$

217,993

$

2,638,467

$

4,748,365

1These investments are measured at fair value using the net asset value ("NAV") per share practical expedient and have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts in the Statement of Net Assets Available for Plan Benefits.
2The majority of dollar amounts of these securities consist of corporate bonds, U.S. government securities and agency securities including U.S. treasury notes and bonds.

There were no investments classified as Level 3 held by the Plan during 2020 and 2019.

Fund Investments Valued at Net Asset Value per Share as a Practical Expedient

NAV is used as a practical expedient to estimate fair value and is based on the fair value of the underlying investments held by the fund less its liability. This practical expedient is not used if it is determined to be probable that the investment will be sold for an amount different from the reported NAV. The following table summarizes investments measured at fair value based on NAV per share:

December 31, 2020

    

    

    

Redemption 

    

 

Unfunded

 

Frequency

 

Redemption Notice

(in thousands)

    

Fair Value

    

Commitments

    

(if currently eligible)

    

Period

Money market fund 1

$

487,249

 

Not applicable

 

Daily

 

None

Mutual fund 2

 

32,127

 

Not applicable

 

Daily

 

None

Collective investment funds 3

 

2,461,482

 

Not applicable

 

Daily

 

None

Total

$

2,980,858

 

  

 

  

 

  

14


December 31, 2019

    

    

    

Redemption 

    

 

Unfunded 

 

Frequency

 

Redemption Notice

(in thousands)

    

Fair Value

    

Commitments

    

(if currently eligible)

    

Period

Money market fund 1

$

435,142

 

Not applicable

 

Daily

 

None

Mutual fund 2

 

605

 

Not applicable

 

Daily

 

None

Collective investment funds 3

 

2,202,720

 

Not applicable

 

Daily

 

None

Total

$

2,638,467

 

  

 

  

 

  

1For the years ended December 31, 2020 and 2019, the combined money market fund investments of $487,249 and $435,142, respectively, are all invested in the State Street Money Market Fund, including $22,111 and $8,322, respectively, in separate managed funds "Cash and short-term investments." 2019 money market fund investment also included $2,016 in the "Edison International common stock fund."

The State Street money market fund seeks to provide safety of principal, daily liquidity and a competitive yield over the long term. The fund invests in a diversified portfolio of securities including securities guaranteed by the U.S. Government or its agencies; debt securities of domestic or foreign corporations, mortgage-backed and other asset-backed securities, municipal bonds, structured notes, loan participations, revolving credit facilities, repurchase agreements and bank certificates of deposit.

2The investment objective of the bond mutual fund within the separately managed accounts is to seek maximum current income, consistent with preservation of capital and daily liquidity.
3For the years ended December 31, 2020 and 2019, collective investment funds consist of fixed income index funds that seek to track the Barclays Capital Aggregate Bond Index, equity index funds that seek to track the performance of the Standard and Poor’s 500 index, the Russell 2500 index, and the MSCI AC World Index (excluding the U.S.).

4. Investment Elections

The Trustee invests contributions in accordance with participant instructions.

Participants may elect changes to their investment mix effective each business day, with certain restrictions. The Plan imposes a seven-day trading restriction that applies to all funds except the Edison International Common Stock Fund. Reallocation elections may also be subject to redemption fees, or other measures imposed by investment fund managers. Participants may effect changes to their deferral percentages and deferral investment elections coincident with their pay frequency.

The transfer of a participant’s investment from one fund to any other fund is based on the net asset value of the units allocated to the participant’s account, as of close of market on the date of transfer.

5. Investment Options

As of December 31, 2020, all participants were able to choose from among 19 investment fund offerings. These investment funds consisted of the following:

Tier 1 – Ten Target Date Funds: Premixed allocation of stocks, bonds and cash. Each Target Date fund is built from a combination of the Tier 2 core funds and designed to be more conservative over time as each fund approaches its target date.
Tier 2 – Edison International Common Stock Fund and Seven Institutional Funds representing a range of asset classes: large and small U.S. stocks (including Edison International Common Stock), cash equivalents, non-U.S. stocks, real assets and fixed income instruments, with varying degrees of risk and return.
Tier 3 – Self-Directed Brokerage Accounts: Allows participants to select investments from among thousands of publicly traded securities including individual equities, mutual funds, fixed income products, exchange traded funds, real estate investment trusts, and taxable unit investment trusts.

15


The Plan Sponsor’s Trust Investment Committee may direct the Trustee to establish new investment funds or discontinue existing ones as well as change the investment medium for each investment fund. Participants should refer to the summary plan description for a more complete discussion of the various investment options.

Effective close of market on June 29, 2021, new investment in the Edison International Common Stock Fund will be closed to new investment, including deferrals and contributions. Amounts currently invested in the Edison International Common Stock Fund may remain invested there.

6. Reconciliation of Financial Statements to Form 5500

The following is a reconciliation of net assets available for plan benefits per the financial statements to the Form 5500:

December 31, 

(in thousands)

    

2020

    

2019

Net assets available for plan benefits per the financial statements

$

5,269,258

$

4,800,919

Less: Amounts allocated to withdrawing participants

 

(96)

 

(376)

Less: Deemed distributions of participant loans

 

(1,114)

 

(1,150)

Net assets available for plan benefits per the Form 5500

$

5,268,048

$

4,799,393

The following is a reconciliation of total deductions per the financial statements to the Form 5500:

    

For the year ended

(in thousands)

    

December 31, 2020

Total distribution to participants per the financial statements

$

356,971

Add: Amounts allocated to withdrawing participants at December 31, 2020

 

96

Add: Deemed distributions of participant loans at December 31, 2020

 

1,114

Less: Amounts allocated to withdrawing participants at December 31, 2019

 

(376)

Less: Deemed distributions of participant loans at December 31, 2019

 

(1,150)

Benefits paid to participants per the Form 5500

$

356,655

Amounts allocated to withdrawing participants are recorded on the Form 5500 for benefit claims that have been processed and approved for payment prior to December 31 but not paid as of that date. Deemed distributions are defaulted and unpaid participant loans of active participants that are disallowed on the Form 5500.

7. Related-Party Transactions

Certain Plan investments, including investments held in the trust, are shares of funds managed by the Trustee. The Plan also invests in the Edison International Common Stock Fund and receives services from the Plan Sponsor. In addition, the Plan issues loans to participants, see "Notes Receivable from Participants" in Note 1 for more details. These transactions qualify as party-in-interest transactions under ERISA.

The money market fund is managed by State Street Bank and Trust Company, which also serves as the Plan’s Trustee. Fees earned by the Trustee in its capacity as fund manager for the Plan were approximately $224,000 for 2020 and were reported as "Management fees" on the Statement of Changes in Net Assets Available for Plan Benefits.

The Plan’s investment options include the Company’s Common Stock as a fund option. See Note 2 for a discussion of the amount of the Plan’s investment in the Company’s Common Stock. In addition, State Street Global Advisors, an affiliate of State Street Bank and Trust Company, is the investment manager of the Edison International Common Stock Fund. Fees earned by State Street Global Advisors in its capacity as the investment manager of the Edison International Common Stock Fund were approximately $81,000 for 2020 and were reported as "Management fees" on the Statement of Changes in Net Assets Available for Plan Benefits.

See Note 10 regarding Edison International Common Stock Fund dividend payments and Note 11 regarding a prohibited transaction.

16


8. Plan Termination

Although it has not expressed intent to do so, the Plan Sponsor has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions of ERISA. In the event of Plan termination, participants will become fully vested in their accounts. The Trust will continue after termination until all Trust assets have been distributed to participants and their beneficiaries.

9. Tax Status

The IRS has determined and informed the Plan Sponsor by a letter dated June 15, 2017 that the Plan and related trust are designed in accordance with the applicable qualification sections of the IRC. The Plan has been amended since receiving the determination letter. However, the Plan Administrator believes that the Plan, as amended, is designed in compliance with the applicable qualification requirements of the IRC, and that the Plan continues to be tax exempt. In addition, the Plan Administrator is not aware of any unaddressed operational issues for which corrective action is not being taken that will prevent the continuation of the Plan’s qualified tax status.

10. Employee Stock Ownership Plan

The Edison International Common Stock Fund constitutes an employee stock ownership plan that allows for the current distribution of dividends to the accounts of all participants through the Plan. Such distributions amounted to approximately $2,372,000 for the year ended December 31, 2020. On December 10, 2020, the Board of Directors of Edison International declared a common stock dividend of $0.6625 per share which was paid on January 31, 2021 to the shareholders of record as of December 31, 2020. As the record date was at year end, dividend income of $0.6625 per share amounting to approximately $4,661,000 was accrued and included in "Dividends receivable" in the accompanying financial statements at December 31, 2020. For the year ended December 31, 2019, approximately $4,289,000 was accrued in dividend receivable and paid on January 31, 2020.

11. Prohibited Transaction

Through an administrative error, on April 26, 2013, SCE borrowed $380,546 from the Plan, which constituted a prohibited transaction under ERISA. In March 2020, SCE repaid $380,546 to the Plan, along with $191,310 of lost earnings calculated under the Department of Labor fiduciary correction program. The prohibited transaction had no impact on participant accounts and was reflected as "Interest income and other" in the Statement of Changes in Net Assets and as a "Receivable from brokers and other" in the Statements of Net Assets Available for Plan Benefits in 2019, the year it was discovered.

In May 2020, SCE submitted the related Form 5330 excise tax filings and paid $72,192 to the IRS.

17


Supplemental Schedules


Form 5500 Schedule G, Part III - Schedule of Nonexempt Transactions
December 31, 2020

Edison 401(k) Savings Plan

EIN: 95-1240335

Plan Number: 002

(a)

   

(b)

   

(c)

   

(d)

   

(e)

   

(f)

   

(g)

   

(h)

   

(i)

   

(j)

Description of

 

Relationship

 

transactions,

 

 

 

 

Expenses

 

 

 

 

to plan,

 

including maturity

 

incurred in

 

 

Net gain

 

employer, or

 

date, rate of interest,

 

connection

Current

 

or (loss)

Identity of

other party

maturity date, rate

Purchase

Selling

Lease

with

Cost of

value of

on each

party involved

in interest

par or maturity value

price

price

rental

 

transaction

asset

asset

transaction

Southern California Edison Company

 

Plan Sponsor

 

In 2013, SCE borrowed $380,546 from the Plan. In March 2020, SCE repaid $380,546 to the Plan, along with $191,310 of lost earnings.

$

380,546

$

$

$

$

380,546

$

571,856

$

191,310

18


Form 5500 Schedule H, Line 4i - Schedule of Assets (Held at End of Year)
December 31, 2020

Edison 401(k) Savings Plan

   

   

EIN: 95‑1240335

Plan Number: 002

(a)

(b)

(c)

(d)

   

(e)

Identity of Issue, Borrower,

Description of Investment Including Maturity Date,

Current Value

Lessor, or Similar Party

Rate of Interest, Par or Maturity Value

Cost**

(in thousands)

Edison International common stock fund

 

  

 

  

 

*

Edison International

 

Common stock - no par value

 

$

442,476

Money market fund

 

  

 

  

 

*

State Street Bank & Trust Co.

 

Money market fund - collective instrument in the State Street Bank short-term income fund

 

 

467,192

Investment funds

 

  

 

  

 

  

BlackRock Global Investors

 

Collective investment in the core Standard & Poor 500 index fund

 

 

1,095,106

PIMCO***

 

Separate managed account in the core bond fund

 

 

168,860

BlackRock Global Investors

 

Collective investment in the core bond fund

 

 

134,060

Dodge & Cox***

 

Separate managed account in the core bond fund

 

 

150,012

Harding Loevner

 

Collective investment in the core international stock fund

 

 

254,414

Dodge & Cox

 

Mutual fund in the core international stock fund

 

 

244,634

BlackRock Global Investors

 

Collective investment in the core international stock fund

 

 

244,550

BlackRock Global Investors

 

Collective investment in the core Standard & Poor 500 index -large company stock fund

 

 

218,650

Jackson Square Partners***

 

Separate managed account in the core U.S. small-medium company stock fund

 

 

77,150

BlackRock Global Investors

 

Collective investment in the core U.S. small-medium company stock fund

 

 

138,905

Next Century***

 

Separate managed account in the core U.S. small-medium company stock fund

 

 

103

AJO Partners***

 

Separate managed account in the core U.S. small-medium company stock fund

 

 

120

Loomis Sayles***

 

Separate managed account in the core U.S. large company stock fund

 

 

212,690

T. Rowe Price***

 

Separate managed account in the core U.S. large company stock fund

 

 

216,835

Blackrock Global Investors

 

Collective Investment in core real assets fund

 

 

50,145

Blackrock Global Investors

 

Collective Investment in global real estate investment trust fund

 

 

28,958

Blackrock Global Investors

 

Collective Investment in short term treasury inflation protected securities fund

 

 

67,276

Blackrock Global Investors

 

Collective Investment in the commodities fund

 

 

20,894

Cardinal Capital

 

Collective investment in the core U.S. small-medium company stock fund

 

 

70,332

Hood River Capital

 

Collective investment in the core U.S. small-medium company stock fund

 

 

79,736

BlackRock Global Investors***

 

Separate managed account in the core U.S. small-medium company stock fund

 

 

68

Westwood

Westwood US Small- Med Comp Stock

62

BlackRock Global Investors

RUSSELL 2000 Value fund

58,461

 

Total Investment funds

 

3,532,021

19


Self-directed brokerage accounts

 

  

 

 

  

Charles Schwab

 

Self-directed brokerage accounts

 

 

788,651

 

Total investments

 

5,230,340

Notes receivable from participants

 

  

 

  

 

  

*

Notes receivable from participants

 

Loans with maturities varying from one to four years -or up to 15 years for purchase of a primary residence and interest rates of 4.23% to 10.51%

 

 

81,957

 

Total

 

$

5,312,297

*

Party-in-interest

**

Investments are participant-directed; therefore, disclosure of cost is not required.

***

See investment details of the separate managed investments in the appendix of the Schedule of Assets.

20


Table of Contents

Appendix of Schedule H – Schedule of Assets (Held at End of Year)

December 31, 2020

Edison 401(k) Savings Plan

EIN 95-1240335

Plan Number 002

(a)

    

(b)

    

(c)

    

(e)

Identity of Issuer,

 

Borrower, Lessor, or

 

 Current Value

    

Similar Party

    

Description of Investment Including Maturity Date, Rate of Interest, Par or Maturity Value

    

(in thousands)

 

PIMCO

 

3175129F0 ITRAXX.O C0.425 FEB21 0.425 CALL

 

$

(2)

 

317516RE4 OTC EPUT G2 2.5 103.3671875

 

1

 

317535N65 OTC EPUT G2 2.5 103.59375

 

1

 

3175409U8 ITRAXX.O P 1.05 JAN21 1.05 PUT

 

1

 

31754R9H8 ITRAXX EU34 5Y JAN21 0.9 PUT

 

1

 

317567220 PIMCO CDSOPT CALL EUR 0.375 20210421

 

(6)

 

31758A9E8 ITRAXX.O P1.00 JAN21 1 PUT

 

1

 

31758AFE1 ITRAXX P EU34 5Y JAN21 0.9 PUT

 

1

 

3175DA290 CDX IG35 5Y V1 JAN21 1.1 PUT

 

1

 

3175GS876 CDX.O P 1.00 IG34 JAN21 1 PUT

 

1

 

3175JL035 CDX.O P 98.25 JAN21 98.25 PUT

 

1

 

3175PPGG3 ITRAXX.O C0.425 MAR21 0.425 CALL

 

(2)

 

317U031X3 IRO USD 30Y P1.49125 JAN21 1.49125 PUT

 

1

 

317U032V6 IRO GBP 30Y P 1.32 JAN21 1.32 PUT

 

(14)

 

317U033V5 IRO USD 10Y P 2.21 JAN21 2.21 PUT

 

6

 

317U033X1 IRO USD 30Y C1.13125 JAN21 1.13125 CALL

 

2

 

317U034V4 IRO USD 10Y P 2.21 JAN21 2.21 PUT

 

8

 

317U048X4 IRO USD 30Y C1.1 JAN21 1.1 CALL

 

2

 

317U097X4 IRO USD 30Y C1.11 JAN21 1.11 CALL

 

2

 

317U107X2 IRO USD 30Y P1.51 JAN21 1.51 PUT

 

1

 

317U108X1 IRO USD 30Y C1.21 JAN21 1.21 CALL

 

1

 

317U123X2 IRO USD 10Y P1.070 JAN21 1.070 PUT

 

1

 

317U124X1 IRO USD 10Y C0.83 JAN21 0.83 CALL

 

1

 

317U128X7 IRO USD 30Y P1.57 JAN21 1.57 PUT

 

2

 

317U129X6 IRO USD 30Y C1.270 JAN21 1.270 CALL

 

1

 

317U141X0 IRO EUR 30Y MAR23 0 PUT

 

(2)

 

317U142X9 IRO EUR 10Y P0.175 MAR23 0.175 PUT

 

1

 

317U143X8 IRO USD 30Y P1.598 JAN21 1.598 PUT

 

2

 

317U144X7 IRO USD 30Y C1.298 JAN21 1.298 CALL

 

1

 

317U179X5 IRO EUR 10Y P0.1750 MAR23 NEG0.1750 PUT

 

(1)

 

317U195X5 PIMCO SWAPTION 0.01524 PUT USD 20210

 

1

 

317U196X4 PIMCO SWAPTION 0.01224 CALL USD 2021

 

1

 

317U609W7 IRO USD 30Y C DEC20 0.86 CALL

 

4

 

90DAY EUR FUTR MAR21 XCME 20210315

 

112

 

ACE SECURITIES CORP. ACE 2004 HE4 M1

 

197

 

ADVENT HEALTH SYSTEM UNSECURED 09/24 2.433

 

104

 

AEP TEXAS INC SR UNSECURED 07/30 2.1

 

418

 

AERCAP IRELAND CAP/GLOBA COMPANY GUAR 07/22 4.625

 

316

 

AERCAP IRELAND CAP/GLOBA COMPANY GUAR 07/23 4.125

 

429

 

AIR LEASE CORP SR UNSECURED 06/21 3.375

 

303

AIR LEASE CORP SR UNSECURED 09/23 3

315

AIRCASTLE LTD SR UNSECURED 02/22 5.5

313

AIRCASTLE LTD SR UNSECURED 03/21 5.125

101

ALBA PLC ALBA 2006 2 A3B REGS

202

21


Table of Contents

Appendix of Schedule H – Schedule of Assets (Held at End of Year)

December 31, 2020

Edison 401(k) Savings Plan

EIN 95-1240335

Plan Number 002

(a)

    

(b)

    

(c)

    

(e)

Identity of Issuer,

 

Borrower, Lessor, or

 

Current Value

    

Similar Party

    

Description of Investment Including Maturity Date, Rate of Interest, Par or Maturity Value

    

(in thousands)

 

PIMCO

 

ALLEGION US HOLDING CO COMPANY GUAR 10/24 3.2

$

107

 

ALTRIA GROUP INC COMPANY GUAR 02/26 4.4

1,045

 

AMER AIRLN 14 1 A PTT PASS THRU CE 04/28 3.7

64

 

AMERICAN CAMPUS CMNTYS COMPANY GUAR 07/26 3.3

109

 

AMERICAN TOWER CORP SR UNSECURED 01/23 3.5

106

 

APPLE INC SR UNSECURED 08/60 2.55

206

 

ARGENTINE PESO

123

 

ARIZONA PUBLIC SERVICE SR UNSECURED 09/50 2.65

104

 

ARROW ELECTRONICS INC SR UNSECURED 03/23 4.5

107

 

ARROW ELECTRONICS INC SR UNSECURED 04/22 3.5

103

 

AT+T INC SR UNSECURED 02/52 3.3

198

 

AT+T INC SR UNSECURED 06/51 3.65

419

 

AUTONATION INC COMPANY GUAR 01/21 3.35

100

 

AUTONATION INC SR UNSECURED 06/30 4.75

241

 

BAIDU INC SR UNSECURED 04/26 1.72

203

 

BANCA MONTE DEI PASCHI S SR UNSECURED REGS 09/24 3.625

129

 

BANCO BILBAO VIZCAYA ARG SR UNSECURED 09/25 1.125

202

 

BAPTIST HEALTHCARE UNSECURED 08/50 3.54

112

 

BARCLAYS PLC SR UNSECURED 05/24 VAR

1,278

 

BAT CAPITAL CORP COMPANY GUAR 09/26 3.215

661

 

BBVA USA SR UNSECURED 08/24 2.5

425

 

BEAR STEARNS ADJUSTABLE RATE M BSARM 2004 10 11A1

148

 

BECTON DICKINSON AND CO SR UNSECURED 06/22 VAR

303

 

BOA FUTURES COC BOA FUTURES CCBOSXUS1

219

 

BOC AVIATION LTD SR UNSECURED REGS 09/22 2.75

204

 

BOEING CO SR UNSECURED 02/28 3.25

751

 

BOEING CO SR UNSECURED 05/30 5.15

726

 

BON SECOURS MERCY SECURED 06/50 3.205

107

 

BRITISH TRA INTL FINANCE COMPANY GUAR REGS 11/21 0.0000

99

 

BRIXMOR OPERATING PART SR UNSECURED 02/22 VAR

500

 

BROADCOM CRP / CAYMN FI COMPANY GUAR 01/23 2.65

208

 

BROADCOM INC COMPANY GUAR 04/26 4.25

344

 

BROADCOM INC COMPANY GUAR 04/30 5

243

 

BWPC0JKD6 CDS USD P F 5.00000 1 CCPCDX

(37)

 

BWPC0JKD6 CDS USD R V 03MEVENT 2 CCPCDX

31

 

BWU00V8J0 IRS USD P F 2.25000 SWU00V8J0 CCPVANILLA

(128)

 

BWU00V8J0 IRS USD R V 03MLIBOR SWUV0V8J2 CCPVANILLA

1

 

BWU00XPH1 IRS USD P F 2.00000 SWU00XPH1 CCPVANILLA

(54)

 

BWU00XPH1 IRS USD R V 03MLIBOR SWUV0XPH3 CCPVANILLA

7

 

BWU015HX5 IRS USD P F 1.15000 SWU015HX5 CCPVANILLA

274

BWU015HX5 IRS USD R V 03MLIBOR SWUV15HX7 CCPVANILLA

(30)

BWU016SX1 IRS GBP P F .00000 SWU016SX1 CCPOIS

(52)

BWU016SX1 IRS GBP R V 12MSONIA SWUV16SX3 CCPOIS

47

BWU016T10 IRS GBP P F .50000 SWU016T10 CCPOIS

(118)

22


Table of Contents

Appendix of Schedule H – Schedule of Assets (Held at End of Year)

December 31, 2020

Edison 401(k) Savings Plan

EIN 95-1240335

Plan Number 002

(a)

    

(b)

    

(c)

    

(e)

Identity of Issuer,

 

Borrower, Lessor, or

 

Current Value

    

Similar Party

    

Description of Investment Including Maturity Date, Rate of Interest, Par or Maturity Value

    

(in thousands)

 

PIMCO

 

BWU016T10 IRS GBP R V 12MSONIA SWUV16T12 CCPOIS

$

91

 

BWU0177O2 IRS USD P F 1.25000 SWU0177O2 CCPVANILLA

37

 

BWU0177O2 IRS USD R V 03MLIBOR SWUV177O4 CCPVANILLA

(34)

 

BWU017DB3 IRS BRL P F 2.88250 SWU017DB3 CCPNDFPREDISWAP

2

 

BWU017DB3 IRS BRL R V 00MBRCDI SWUV17DB5 CCPNDFPREDISWAP

(2)

 

CALIFORNIA ST CAS 04/47 FLOATING VAR

400

 

CANADIAN DOLLAR

(92)

 

CARLISLE COS INC SR UNSECURED 12/24 3.5

110

 

CCBOSHUS6 BANK OF AMERICA CCPC CCBOSHUS6 BANK OF AMERICA CCPC

843

 

CCBOSZUS6 BOA CCPC COC CCBOSZUS6 BOA CCPC COC

1,298

 

CCPC CCFOBHUS0 COC CCPC CASH COLLATERAL USD

8

 

CELGENE CORP SR UNSECURED 08/22 3.25

519

 

CHARTER COMM OPT LLC/CAP SR SECURED 04/51 3.7

727

 

CHICAGO IL CHI 01/22 FIXED 5.63

91

 

CITIGROUP COMMERCIAL MORTGAGE CGCMT 2016 C1 A4

111

 

CITIGROUP INC SR UNSECURED 10/24 VAR

705

 

CITIGROUP MORTGAGE LOAN TRUST CMLTI 2005 8 3A1

93

 

CITIZENS BANK NA/RI SR UNSECURED 02/26 3.75

455

 

CNH INDUSTRIAL CAP LLC COMPANY GUAR 04/21 4.875

202

 

COMCAST CORP COMPANY GUAR 01/51 2.8

417

 

COMCAST CORP COMPANY GUAR 08/62 2.65

200

 

COMM MORTGAGE TRUST COMM 2017 COR2 A3

227

 

COMMONSPIRIT HEALTH SR SECURED 10/49 4.187

116

 

COUNTRYWIDE ALTERNATIVE LOAN T CWALT 2004 28CB 5A1

90

 

COUNTRYWIDE HOME LOANS CWHL 2004 HYB2 6A

46

 

CRED SUIS GP FUN LTD COMPANY GUAR 09/22 3.8

634

 

CREDIT SUISSE GROUP AG SR UNSECURED 04/26 4.55

353

 

CSAIL COMMERCIAL MORTGAGE TRUS CSAIL 2015 C3 ASB

484

 

CVS HEALTH CORP SR UNSECURED 08/27 1.3

603

 

DANISH KRONE

1

 

DELTA AIR LINES INC SR UNSECURED 03/22 3.625

309

 

DELTA AIR LINES INC SR UNSECURED 04/21 3.4

101

 

DEUTSCHE BANK NY SR UNSECURED 01/21 3.15

400

 

DEUTSCHE BANK NY SR UNSECURED 11/22 3.3

521

 

DTE ENERGY CO SR UNSECURED 06/25 1.05

303

 

ENBRIDGE INC COMPANY GUAR 02/22 VAR

300

 

ENERGY TRANSFER LP SR UNSECURED 02/23 3.6

210

 

ENERGY TRANSFER OPERATNG COMPANY GUAR 06/21 4.65

403

 

ENTERGY ARKANSAS LLC 1ST MORTGAGE 06/51 2.65

205

 

EQM MIDSTREAM PARTNERS L SR UNSECURED 07/23 4.75

421

EQT CORP SR UNSECURED 10/22 3

99

EURO CURRENCY

(22)

EUROSAIL PLC ESAIL 2006 2X A2C REGS

91

EVERNORTH HEALTH INC COMPANY GUAR 11/22 3.05

105

23


Table of Contents

Appendix of Schedule H – Schedule of Assets (Held at End of Year)

December 31, 2020

Edison 401(k) Savings Plan

EIN 95-1240335

Plan Number 002

(a)

    

(b)

    

(c)

    

(e)

Identity of Issuer,

 

Borrower, Lessor, or

 

Current Value

    

Similar Party

    

Description of Investment Including Maturity Date, Rate of Interest, Par or Maturity Value

    

(in thousands)

 

PIMCO

 

EVERSOURCE ENERGY SR UNSECURED 08/25 0.8

$

399

 

EXELON GENERATION CO LLC SR UNSECURED 06/25 3.25

327

 

FANNIE MAE FNR 2004 10 ZB

56

 

FANNIE MAE FNR 2012 55 PC

1,124

 

FANNIE MAE FNR 2013 36 JI

42

 

FANNIE MAE FNR 2015 38 DF

66

 

FANNIE MAE FNR 2015 87 BF

99

 

FANNIE MAE FNR 2019 28 FJ

297

 

FED HM LN PC POOL ZA6393 FR 03/49 FIXED 4

44

 

FIRSTENERGY CORP SR UNSECURED 07/22 3.35

407

 

FISERV INC SR UNSECURED 07/24 2.75

322

 

FLEX LTD SR UNSECURED 02/23 5

324

 

FLORIDA ST BRD OF ADMIN FIN CO FLSGEN 07/27 FIXED 1.705

311

 

FMC CORP SR UNSECURED 10/26 3.2

223

 

FNMA POOL 471600 FN 06/22 FIXED 2.64

274

 

FNMA POOL 725236 FN 03/34 FIXED VAR

5

 

FNMA POOL 888638 FN 09/37 FIXED VAR

127

 

FNMA POOL 894948 FN 08/36 FIXED 6

5

 

FNMA POOL 995279 FN 12/38 FIXED VAR

7

 

FNMA POOL AE0515 FN 04/40 FIXED VAR

9

 

FNMA POOL AH8434 FN 04/41 FIXED 5

7

 

FNMA POOL AL1983 FN 05/22 VARIABLE

304

 

FNMA POOL AL5853 FN 05/44 FIXED VAR

298

 

FNMA POOL AL8946 FN 08/46 FIXED VAR

1,345

 

FNMA POOL AW3558 FN 05/29 FIXED 3

139

 

FNMA POOL BK2012 FN 04/48 FIXED 4

1,981

 

FNMA POOL BM2003 FN 10/47 FIXED VAR

40

 

FNMA POOL CA3674 FN 06/49 FIXED 4

101

 

FNMA POOL FM1107 FN 06/49 FIXED VAR

53

 

FNMA POOL FM4126 FN 07/49 FIXED VAR

898

 

FNMA POOL MA3036 FN 06/32 FIXED 3.5

1,029

 

FNMA POOL MA3125 FN 09/32 FIXED 3

1,183

 

FNMA TBA 30 YR 2 SINGLE FAMILY MORTGAGE

1,087

 

FNMA TBA 30 YR 2.5 SINGLE FAMILY MORTGAGE

10,751

 

FNMA TBA 30 YR 3 SINGLE FAMILY MORTGAGE

6,397

 

FNMA TBA 30 YR 3.5 SINGLE FAMILY MORTGAGE

9,950

 

FORD MOTOR CREDIT CO LLC SR UNSECURED 01/21 3.2

300

 

FORD MOTOR CREDIT CO LLC SR UNSECURED 01/23 3.087

203

 

FORD MOTOR CREDIT CO LLC SR UNSECURED 02/23 4.14

309

 

FORD MOTOR CREDIT CO LLC SR UNSECURED 03/24 5.584

324

FORD MOTOR CREDIT CO LLC SR UNSECURED 04/21 3.47

500

FORD MOTOR CREDIT CO LLC SR UNSECURED 10/21 VAR

296

FORTUNE BRANDS HOME + SE SR UNSECURED 09/23 4

327

FREDDIE MAC SLST SLST 2019 3 A1C

560

24


Table of Contents

Appendix of Schedule H – Schedule of Assets (Held at End of Year)

December 31, 2020

Edison 401(k) Savings Plan

EIN 95-1240335

Plan Number 002

(a)

    

(b)

    

(c)

    

(e)

Identity of Issuer,

 

Borrower, Lessor, or

 

Current Value

    

Similar Party

    

Description of Investment Including Maturity Date, Rate of Interest, Par or Maturity Value

    

(in thousands)

 

PIMCO

 

FREDDIE MAC FHR 2882 ZC

$

12

 

FREDDIE MAC FHR 4935 KP

1,097

 

FREDDIE MAC FHR 4948 E

115

 

FREDDIE MAC FHR 4950 A

90

 

FREDDIE MAC FHR 4961 LA

71

 

FREDDIE MAC NOTES 08/25 0.68

401

 

FREDDIE MAC NOTES 08/25 0.69

700

 

FREDDIE MAC NOTES 08/25 0.7

700

 

FREDDIE MAC NOTES 10/26 0.8

1,300

 

FREDDIE MAC NOTES 11/26 0.83

300

 

FREDDIE MAC UNSECURED 09/23 0.25

200

 

FREDDIE MAC WHOLE LOAN SECURIT FWLS 2017 SC01 2A

566

 

GENERAL ELECTRIC CO SR UNSECURED 05/50 4.35

365

 

GENERAL MOTORS FINL CO COMPANY GUAR 01/22 3.45

411

 

GENERAL MOTORS FINL CO COMPANY GUAR 01/22 VAR

101

 

GENERAL MOTORS FINL CO COMPANY GUAR 01/23 VAR

100

 

GENERAL MOTORS FINL CO SR UNSECURED 07/22 3.55

104

 

GENERAL MOTORS FINL CO SR UNSECURED 11/21 4.2

309

 

GENERAL MOTORS FINL CO SR UNSECURED 11/21 VAR

100

 

GLOBAL PAYMENTS INC SR UNSECURED 02/25 2.65

214

 

GLOBAL PAYMENTS INC SR UNSECURED 08/29 3.2

553

 

GNMA II POOL MA5264 G2 06/48 FIXED 4

82

 

GNMA II TBA 30 YR 4 JUMBOS

(213)

 

GOLDMAN SACHS GROUP INC SR UNSECURED 07/23 VAR

303

 

GOLDMAN SACHS GROUP INC SR UNSECURED 07/24 3.85

1,050

 

GOVERNMENT NATIONAL MORTGAGE A GNR 2015 H16 FM

245

 

GOVERNMENT NATIONAL MORTGAGE A GNR 2015 H20 FB

139

 

GOVERNMENT NATIONAL MORTGAGE A GNR 2015 H20 FC

432

 

GOVERNMENT NATIONAL MORTGAGE A GNR 2015 H22 FC

331

 

GOVERNMENT NATIONAL MORTGAGE A GNR 2015 H29 FA

7

 

GOVERNMENT NATIONAL MORTGAGE A GNR 2016 H11 F

226

 

GOVERNMENT NATIONAL MORTGAGE A GNR 2017 H09 FB

340

 

GOVERNMENT NATIONAL MORTGAGE A GNR 2019 31 GF

306

 

GOVERNMENT NATIONAL MORTGAGE A GNR 2019 33 F

327

 

GOVERNMENT NATIONAL MORTGAGE A GNR 2020 5 JF

238

 

HEALTHCARE REALTY TRUST SR UNSECURED 03/31 2.05

100

 

HEALTHCARE TRUST OF AMER COMPANY GUAR 08/26 3.5

226

 

HEALTHPEAK PROPERTIES SR UNSECURED 07/26 3.25

226

 

HOST HOTELS + RESORTS LP SR UNSECURED 06/25 4

215

 

HP ENTERPRISE CO SR UNSECURED 10/21 VAR

500

HSBC HOLDINGS PLC JR SUBORDINA 12/99 VAR

305

HSBC HOLDINGS PLC SR UNSECURED 03/25 VAR

304

HSBC HOLDINGS PLC SR UNSECURED 05/27 VAR

305

HSBC HOLDINGS PLC SR UNSECURED 09/28 VAR

512

25


Table of Contents

Appendix of Schedule H – Schedule of Assets (Held at End of Year)

December 31, 2020

Edison 401(k) Savings Plan

EIN 95-1240335

Plan Number 002

(a)

    

(b)

    

(c)

    

(e)

Identity of Issuer,

 

Borrower, Lessor, or

 

Current Value

    

Similar Party

    

Description of Investment Including Maturity Date, Rate of Interest, Par or Maturity Value

    

(in thousands)

 

PIMCO

 

HSBC HOLDINGS PLC SR UNSECURED 11/25 VAR

$

213

 

HUNTSMAN INTERNATIONAL L SR UNSECURED 11/22 5.125

214

 

HYATT HOTELS CORP SR UNSECURED 09/22 VAR

202

 

IMPAC SECURED ASSETS CORP. IMSA 2006 5 2A

75

 

INDYMAC INDA MORTGAGE LOAN TRU INDA 2005 AR1 3A1

145

 

INTEGRIS BAPTIST MEDICAL SR SECURED 08/50 3.875

117

 

INTERCONTINENTALEXCHANGE SR UNSECURED 09/40 2.65

616

 

INTERPUBLIC GROUP COS SR UNSECURED 03/22 4

104

 

INTL LEASE FINANCE CORP SR UNSECURED 01/22 8.625

215

 

JP MORGAN CHASE COMMERCIAL MOR JPMCC 2016 JP4 A4

114

 

JP MORGAN MORTGAGE TRUST JPMMT 2005 A5 2A2

225

 

JPMDB COMMERCIAL MORTGAGE SECU JPMDB 2016 C2 A4

110

 

JPMORGAN CHASE + CO SR UNSECURED 04/24 VAR

202

 

JPMORGAN CHASE + CO SR UNSECURED 07/25 3.9

341

 

KINDER MORGAN INC COMPANY GUAR 01/23 VAR

202

 

KLA CORP SR UNSECURED 11/24 4.65

341

 

KOMATSU FINANCE AMERICA COMPANY GUAR REGS 09/22 2.437

310

 

LABORATORY CORP OF AMER SR UNSECURED 12/24 2.3

106

 

LLOYDS BANKING GROUP PLC SR UNSECURED REGS 01/26 VAR

283

 

LLOYDS BANKING GROUP PLC SR UNSECURED REGS 04/26 VAR

278

 

LOS ANGELES CA CMNTY CLG DIST LOSHGR 08/32 FIXED 2.106

417

 

MARATHON OIL CORP SR UNSECURED 11/22 2.8

70

 

MARYLAND ST HLTH HGR EDUCTNL MDSMED 07/40 FIXED 3.052

415

 

MCCORMICK + CO SR UNSECURED 08/24 3.15

325

 

MERRILL LYNCH MORTGAGE INVESTO MLMI 2003 A2 2A2

17

 

MICRON TECHNOLOGY INC SR UNSECURED 02/24 4.64

334

 

MICRON TECHNOLOGY INC SR UNSECURED 02/30 4.663

245

 

MITSUBISHI UFJ FIN GRP SR UNSECURED 07/23 VAR

404

 

MITSUBISHI UFJ FIN GRP SR UNSECURED 09/24 VAR

201

 

MIZUHO FINANCIAL GROUP SR UNSECURED 07/31 VAR

207

 

MIZUHO FINANCIAL GROUP SR UNSECURED 09/22 VAR

506

 

MLCC MORTGAGE INVESTORS INC MLCC 2004 G A1

24