EIX Form 11K
United States
Securities and Exchange Commission
Washington, DC 20549
----------------
Form 11-K
Annual Report
Pursuant to Section 15(d) Of The
Securities Exchange Act of 1934
(Mark One):
_x_ Annual Report Pursuant to Section 15(d) of the Securities Exchange Act of 1934
[No Fee Required, Effective October 7, 1996].
For the fiscal year ended December 31, 2006
-----------------------------------------------------------------------
OR
___ Transition Report Pursuant to Section 15(d) of the Securities Exchange Act of
1934 [No Fee Required].
For the transition period from ______ to _______
Commission file number 001-9936
EDISON 401(k) SAVINGS PLAN
(Full Title of the Plan)
EDISON INTERNATIONAL
(Name of Issuer)
2244 Walnut Grove Avenue (P.O. Box 800), Rosemead, California 91770
(Address of principal executive office)
Page i
Edison 401(k) Savings Plan
Financial Statements and
Supplemental Schedule
As of December 31, 2006 and 2005 and
for the Year Ended December 31, 2006
Page ii
Edison 401(k) Savings Plan
Financial Statements and
Supplemental Schedule
As of December 31, 2006 and 2005 and
for the Year Ended December 31, 2006
Page 1
Edison 401(k) Savings Plan
Contents
Report of Independent Registered Public Accounting Firm 3
Financial Statements
Statements of Net Assets Available for Plan Benefits as of
December 31, 2006 and 2005 4
Statement of Changes in Net Assets Available for Plan Benefits
for the Year Ended December 31, 2006 5
Notes to Financial Statements 6-18
Supplemental Schedule
Schedule I: Form 5500 - Schedule H - Line 4i -
Schedule of Assets (Held at End of Year) as of
December 31, 2006 19-22
Exhibit 23 - Consent of Independent Registered Public Accounting Firm 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.
Page 2
Report of Independent Registered Public Accounting Firm
Southern California Edison Company
Benefits Committee
Rosemead, California
We have audited the accompanying statements of net assets available for plan benefits of the Edison 401(k)
Savings Plan (the "Plan") as of December 31, 2006 and 2005, and the related statement of changes in net
assets available for plan benefits for the year ended December 31, 2006. These financial statements and the
supplemental schedule referred to below are the responsibility of the Plan's management. Our responsibility
is to express an opinion on these financial statements based on our audits.
We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board
(United States). Those standards require that we plan and perform the audit to obtain reasonable assurance
about whether the financial statements are free of material misstatement. The Plan is not required to have,
nor were we engaged to perform, an audit of its internal controls over financial reporting. Our audits
included consideration of internal control over financial reporting as a basis for designing audit procedures
that are appropriate in the circumstances, 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. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures
in the financial statements, assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall financial statement presentation. We believe that our audits
provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in all material respects, the net
assets available for plan benefits as of December 31, 2006 and 2005, and the changes in net assets available
for plan benefits for the year ended December 31, 2006 in conformity with accounting principles generally
accepted in the United States of America.
Our audits were performed for the purpose of forming an opinion on the basic financial statements taken as a
whole. The supplemental schedule of assets (held at end of year) as of December 31, 2006 is presented for
the purpose of additional analysis and is not a required part of the basic financial statements but is
supplementary 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 schedule has been
subjected to the auditing procedures applied in our audits of the basic financial statements and, in our
opinion, is fairly stated in all material respects in relation to the basic financial statements taken as a
whole.
BDO Seidman, LLP
Costa Mesa, California
June 25, 2007
Page 3
Edison 401(k) Savings Plan
Statements of Net Assets Available for Plan Benefits
December 31, 2006 2005
------------------------------------------------------------------------------------------------------------------------------
(in 000's)
Assets
Cash $ 18,434 $ 9,606
Investments, at fair value 3,403,896 3,169,411
Receivables
Dividends receivable 6,927 9,048
Interest receivable 1,933 1,270
Profit sharing receivable 3,937 4,096
Receivable from brokers 892 1,438
------------------------------------------------------------------------------------------------------------------------------
Total receivables 13,689 15,852
------------------------------------------------------------------------------------------------------------------------------
Total assets 3,436,019 3,194,869
------------------------------------------------------------------------------------------------------------------------------
Liabilities
Payable to brokers and others 13,337 21,593
------------------------------------------------------------------------------------------------------------------------------
Total liabilities 13,337 21,593
------------------------------------------------------------------------------------------------------------------------------
Net assets available for plan benefits $ 3,422,682 $ 3,173,276
------------------------------------------------------------------------------------------------------------------------------
See accompanying notes to financial statements.
Page 4
Edison 401(k) Savings Plan
Statement of Changes in Net Assets Available for Plan Benefits
Year ended December 31, 2006
----------------------------------------------------------------------------------------------------------------
(in 000's)
Additions
Investment income
Dividends $ 22,615
Interest 23,035
Net appreciation in fair value of investments 254,871
----------------------------------------------------------------------------------------------------------------
300,521
Less: Management fees 594
----------------------------------------------------------------------------------------------------------------
Net investment income 299,927
----------------------------------------------------------------------------------------------------------------
Contributions
Employer contributions, net of forfeitures 69,154
Participant and rollover contributions 137,623
----------------------------------------------------------------------------------------------------------------
Total net contributions 206,777
----------------------------------------------------------------------------------------------------------------
Total additions 506,704
Deductions
Distributions to participants 257,247
Loans in default 51
----------------------------------------------------------------------------------------------------------------
Total deductions 257,298
-----------------------------------------------------------------------------------------------------------------
Net increase 249,406
Net assets available for plan benefits
Beginning of year 3,173,276
----------------------------------------------------------------------------------------------------------------
End of year $ 3,422,682
----------------------------------------------------------------------------------------------------------------
See accompanying notes to financial statements.
Page 5
Edison 401(k) Savings Plan
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 (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 many of its
subsidiary companies are eligible to participate. The Plan is subject to the
provisions of the Employee Retirement Income Security Act of 1974 (ERISA). 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 up to 84 percent of eligible
pay. Participating employers provide matching contributions up to 6.0 percent of a
participant's eligible pay. Certain participating subsidiaries also provide a fixed
profit sharing contribution of 3.0 percent of eligible pay each pay period and a
variable profit sharing contribution annually (if certain business objectives are
reached) to eligible employees. The Plan also accepts rollover contributions from other
qualified plans.
Vesting
Participants immediately vest in their contributions plus actual earnings thereon.
Employer contributions plus actual earnings thereon vest at a rate of 20 percent per
year. After five years of service or reaching age 65, all existing and future employer
contributions are fully vested.
Page 6
Edison 401(k) Savings Plan
Notes to Financial Statements (Continued)
1. Plan Description Forfeitures
(Continued)
At December 31, 2006, and 2005, the unused portion of forfeited non-vested accounts
totaled $9,928 and $0, respectively. These accounts are used to reduce future employer
contributions. During 2006, employer contributions were reduced by $421,033 from
forfeited non-vested accounts.
Plan Trust
Plan assets are held in 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.
Plan Administration
The Plan is administered by the Southern California Edison Company Benefits Committee
(the Plan Administrator). Hewitt Associates LLC is the Plan's record keeper. As of
December 31, 2006 and 2005, the Plan provided investment choices in 47 investment
funds. The Plan provides to participants a detailed description of each investment
fund choice and lists the respective investment manager.
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.
Page 7
Edison 401(k) Savings Plan
Notes to Financial Statements (Continued)
1. Plan Description Mutual funds pay fees to the Plan record keeper for administrative services to
(Continued) participants that would otherwise have to be provided by the mutual funds. The
majority of fees received by the Plan record keeper are used to reduce the record
keeping and communication expenses of the Plan paid by the Plan Sponsor. See Note 7
for a discussion of party-in-interest transactions.
Participant Accounts
Each participant account is adjusted for the participant's contribution, the employer's
contribution, if applicable, and allocations of investment earnings/losses. Allocation
of earnings/losses and 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.
Participant Loans
Participants may borrow from their account, a minimum of $1,000 to a maximum of
$50,000, with certain restrictions. Loan transactions are treated as a transfer 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 prime rate plus one percent. Interest rates on
outstanding loans range from 5.0 percent to 10.5 percent as of December 31, 2006.
Principal and interest are paid ratably through payroll deductions. Some separated
participants may repay loan obligations directly, rather than through payroll
deductions. Participant loans amounted to approximately $61,821,000 and $60,797,000 as
of December 31, 2006, and 2005, respectively.
Page 8
Edison 401(k) Savings Plan
Notes to Financial Statements (Continued)
1. Plan Description Distribution to Participants
(Continued)
Account balances are distributed as soon as practicable after a participant dies,
becomes entitled to a distribution 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 Section 401(a)(9). Participants may choose a lump sum, partial distribution or an
installment form of payment. Participants who terminate employment on or after January
28, 2005, 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.
Profit Sharing
Certain non-represented employees of Edison Mission Group Inc.'s (EMG) participating
subsidiaries are eligible for two types of profit sharing contributions:
(i) Fixed profit sharing is comprised of a 3.0 percent profit sharing contribution
each pay period to the Plan on behalf of eligible employees. Fixed profit
sharing contributions in 2006 amounted to $2,195,506.
(ii) Variable profit sharing is comprised of an additional annual profit sharing
contribution to the Plan on behalf of eligible employees if certain business
objectives are reached. Variable profit sharing contributions made in 2007 for
the 2006 plan year were 5.50% of eligible earnings for eligible EMG employees
for a total amount of $3,936,953. Such amount is presented as "Profit sharing
receivable" on the Statement of Net Assets Available for Plan Benefits as of
December 31, 2006.
Page 9
Edison 401(k) Savings Plan
Notes to Financial Statements (Continued)
2. Summary of Significant Basis of Accounting
Accounting
Policies The financial statements are presented on the accrual basis of accounting and in
conformity with accounting principles generally accepted in the United States of
America (U.S.A.) applicable to employee benefit plans and ERISA.
Use of Estimates
The preparation of financial statements in conformity with accounting principles
generally accepted in the United States of America 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
$1,066,948,000 and $1,324,221,000 as of December 31, 2006, and 2005, respectively.
Such investments represented approximately 31 percent and 41 percent of the Plan's
total assets as of December 31, 2006, and 2005, respectively. For risks and
uncertainties regarding investment in the Company's common stock, participants should
refer to the Annual report on Form 10-K for the period ended December 31, 2006, and the
quarterly report on Form 10-Q for the period ended March 31, 2007, of Edison
International, and its affiliate entities listed below:
Southern California Edison Company
Edison Mission Energy
Midwest Generation, LLC
EME Homer City Generation L.P.
Mission Energy Holding Company
Page 10
Edison 401(k) Savings Plan
Notes to Financial Statements (Continued)
2. Summary of Significant The Plan provides for various funds that hold investment securities. Investment
Accounting securities are exposed to various risks such as interest rate, market, and credit
Policies risk. Due to the level of risk associated with certain investment securities and the
(Continued) 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 would materially affect
participants' account balances and the amounts reported in 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 comprise securities of foreign
companies, which involve special risks and considerations not typically associated with
investing in U.S.A. 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.A. companies.
Investment Valuation and Income Recognition
The Plan's investments are stated at fair value or estimated fair value. Investments
in mutual funds valued at quoted market prices represent units held by the Plan at year
end. Investments in the common collective funds invest in premixed portfolios and
institutional funds (see Note 4). Investments in the common collective funds are valued
at net asset value of shares held by the Plan at year-end. Edison International Common
Stock is valued at its quoted market price at year-end. Participant loans are valued
at cost, which approximates 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.
Page 11
Edison 401(k) Savings Plan
Notes to Financial Statements (Continued)
2. Summary of Significant Participant loans that are in default as provided in the plan document, are treated as
Accounting deemed distributions for tax purposes and also reported as such in the Form 5500.
Policies Management has determined these loans in default as uncollectible. For the year ended
(Continued) December 31, 2006, $51,115 of participant loans in default were deemed to be
uncollectible and written-off. This is included as loans in default in the Statement of
Changes in Net Assets Available for Plan Benefits.
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).
Distributions to Participants
Distributions to participants, other than loans, are recorded when paid.
3. 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 for most
participants that applies to all funds except the Edison International Stock Fund.
Reallocation elections are also subject to trading restrictions, 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.
Page 12
Edison 401(k) Savings Plan
Notes to Financial Statements (Continued)
4. Investment The transfer of a participant's investment from one fund to any other fund is based on
Options the net asset value of the units allocated to the participant's account, as of close of
market on the date of transfer.
As of December 31, 2006 and 2005, all participants were able to choose
from among 47 investment fund offerings. These investment
funds consisted of the following:
o Three Pre-mixed Portfolios - Funds are invested in portfolios which include
U.S. stocks, non-U.S. stocks and corporate and government bonds;
o Six Institutional Funds - Funds are invested in a broad selection of asset
classes; large and small U.S. stocks (including Edison International Common
Stock), non-U.S. stocks and fixed income instruments; and
o Thirty Eight Mutual Funds - Funds are invested in a variety of retail mutual
funds from multiple asset classes.
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.
Page 13
Edison 401(k) Savings Plan
Notes to Financial Statements (Continued)
5. Investments The following presents investments that represent 5 percent or more of the Plan's net
assets:
December 31, 2006 2005
---------------------------------------------------------------------------------------------------
(in 000's)
Investments at Fair Value as Determined by Quoted Market
Prices:
Edison International Common Stock Fund, 23,451,326 and
30,289,346 shares, respectively (See Note 7) $ 1,087,517 $ 1,363,890
Other - Mutual funds (less than 5%) 999,863 706,115
---------------------------------------------------------------------------------------------------
2,087,380 2,070,005
---------------------------------------------------------------------------------------------------
Investments at Estimated Fair Value:
State Street Bank & Trust Co. - Money Market Fund,
399,414,465 and 304,074,013 units, respectively (See
Note 7) 399,414 304,074
BZW Barclay's Global Investors - Common Stock Fund,
7,887,385 and 7,945,796 units, respectively 347,124 301,781
Other - Frank Russell Trust Company Funds (less than 5%) 508,157 432,754
Participant Loans (less than 5%) 61,821 60,797
---------------------------------------------------------------------------------------------------
1,316,516 1,099,406
---------------------------------------------------------------------------------------------------
Total Investments $ 3,403,896 $ 3,169,411
---------------------------------------------------------------------------------------------------
Page 14
Edison 401(k) Savings Plan
Notes to Financial Statements (Continued)
5. Investments (Continued) During 2006, the Plan's investments (including gains and losses on investments bought and
sold, as well as held during the year) appreciated in value as follows :
Net Appreciation in Fair Value of Investments:
December 31, 2006
----------------------------------------------------------------------------------------------
(in 000's)
Investments at Fair Value as Determined by Quoted Market Prices
Edison International Common Stock Fund $ 37,535
Mutual Funds 118,430
----------------------------------------------------------------------------------------------
155,965
Investments at Estimated Fair Value
Common Collective Funds 98,906
----------------------------------------------------------------------------------------------
Net appreciation in fair value of investments $ 254,871
----------------------------------------------------------------------------------------------
6. Reconciliation of FinancialThe following is a reconciliation of net assets available for plan benefits per the
Statements to financial statements to Form 5500:
Form 5500
December 31, 2006 2005
-------------------------------------------------------------------------------------------------
(in 000's)
Net assets available for plan
benefits per the financial
statements $ 3,422,682 $ 3,173,276
Less: Amounts allocated to
withdrawing participants 1,244 737
-------------------------------------------------------------------------------------------------
Net assets available for plan benefits
per the Form 5500 $ 3,421,438 $ 3,172,539
-------------------------------------------------------------------------------------------------
Page 15
Edison 401(k) Savings Plan
Notes to Financial Statements (Continued)
-------------------------------------------
6. Reconciliation of FinancialThe following is a reconciliation of benefits paid to participants per the financial
Statements statements to Form 5500:
to Form 5500 (Continued)
December 31, 2006
--------------------------------------------------------------
(in 000's)
Benefits paid to participants per the
financial statements $ 257,247
Add: Amounts allocated to
withdrwaing participants at
December 31, 2006 1,244
Less: Amounts allocated to
withdrawing participants at
December 31, 2005 737
--------------------------------------------------------------
Benefits paid to participants per the
Form 5500 $ 257,754
--------------------------------------------------------------
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.
7. Party-In-Interest The Money Market Fund is managed by State Street Bank and Trust Company, which also
Transactions serves as the Plan's Trustee. Fees earned by the Trustee in its capacity as fund manager
for the Plan were $435,536 for 2006 and were reported as management fees
on the Statement of Changes in Net Assets Available for Plan Benefits.
Page 16
Edison 401(k) Savings Plan
Notes to Financial Statements (Continued)
7. Party-In-Interest The Plan's investment options include the Company's Common Stock as a fund option. See
Transactions Note 2 for a discussion of the amount of the Plan's investment in the Company's Common
Continued( 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 $120,840 for 2006 and were reported as
management fees on the Statement of Changes in Net Assets Available for
Plan Benefits.
Fees paid by the Plan Sponsor for administrative and other services rendered to the Plan
were based on customary and reasonable rates for such services. Various mutual funds
offered as investment options in the Plan transfer to Hewitt Associates, the Plan's
record keeper, certain shareholder servicing and distribution services fees they charge
to Plan participants who invest in the mutual funds (these shareholder servicing and
distribution service fees are charged to all investors in the mutual funds). These
transferred fees, which totaled $1,500,748 for 2006, were used to reduce Hewitt
Associates' charge to the Plan Sponsor for services Hewitt Associates provided to the
Plan.
See Note 1 for a discussion of the Plan's loans to participants and Note 2 for a
discussion of the participant loans in default
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 Internal Revenue Service has determined and informed the Plan Sponsor by a letter
dated May 22, 2002, that the Plan and related trust as amended through November 29, 2001,
are designed in accordance with the applicable qualification sections of the Internal
Revenue Code (IRC). The Plan has been amended since receiving the determination letter.
However, the Plan Administrator believes that
Page 17
Edison 401(k) Savings Plan
Notes to Financial Statements (Continued)
the Plan, as amended, is designed in
compliance with the applicable qualification requirements of the IRC. In addition, the
Plan Administrator is not aware of any operational issues that will prevent the
continuation of the Plan's qualified tax status.
10. Employee Stock The Edison International Common Stock Fund constitutes an employee stock ownership plan
Ownership Plan that allows for the current distribution of dividends to all participants. Such
distributions amounted to $5,864,192 for the year ended December 31, 2006. On December
21, 2006, the board of directors of Edison International declared a common stock dividend
of $0.29 per share payable on January 31, 2007, to the shareholders of record as of
December 30, 2006. As the record date was at year end, dividend income of $0.29 per
share amounting to $6,758,834 was accrued and included in dividends receivable in the
accompanying financial statements at December 31, 2006.
Page 18
Edison 401(k) Savings Plan
Schedule I: Form 5500 - Schedule H - Line 4i-
Schedule of Assets (Held at End of Year) as of December 31, 2006
EIN: 95-1240335
Plan Number: 002
(a) (b) (c) (d) (e)
Current
Identity of Issuer, Borrower, Description of Investment Including Maturity Date, Cost** Value
Lessor, or Similar Party Rate of Interest, Par or Maturity Value (in 000's)
-------------------------------------------------------------------------------------------------------------------------------
Edison International Common Stock Fund
* Edison International Common Stock - No Par Value $ 1,066,948
* State Street Bank & Trust Co. Short Term Investment Fund 20,569
----------
Total Edison International Common Stock Fund 1,087,517
----------
Money Market Fund
* State Street Bank & Trust Co. Money Market Fund - Collective Investment in the State
Street Bank Short-Term Income Fund 399,414
----------
Common Collective Funds
BZW Barclay's Global Investors Common Stock Fund - Collective Investment in the BZW
Barclay's Global Investors Equity Index Fund 347,124
Frank Russell Trust Company Balanced Fund - Collective Investment in Frank Russell
Balanced Fund 170,959
Frank Russell Trust Company Bond Fund - Collective Investment in Frank Russell
Intermediate-Term Bond Fund 81,189
Frank Russell Trust Company US Large Company - Collective Investment in Frank
Russell US Large Company Equity I Fund 63,193
Frank Russell Trust Company US Small Company - Collective Investment in Frank
Russell US Small Company Equity II Fund 50,572
Frank Russell Trust Company Conservative Growth Portfolio - Collective Investment
in Frank Russell Conservative Balanced Fund 35,685
Frank Russell Trust Company Aggressive Growth Portfolio - Collective Investment in 106,559
Frank Russell Aggressive Balanced Fund ----------
Total Common Collective Funds 855,281
----------
Mutual Funds
Capital Research & Management Collective Investment in The American Funds Group
Europacific Growth Fund 102,650
T. Rowe Price Collective Investment in T. Rowe Price Blue Chip Fund 14,243
C &S Realty Collective Investment in C &S Institutional Realty
Share Value Fund 63,489
Page 19
Edison 401(k) Savings Plan
Schedule I: Form 5500 - Schedule H - Line 4i-
Schedule of Assets (Held at End of Year) as of December 31, 2006
------------------------------------------------------------------------------------------------------------------------------
(a) (b) (c) (d) (e)
Current
Identity of Issuer, Borrower, Description of Investment Including Maturity Date, Cost** Value
Lessor, or Similar Party Rate of Interest, Par or Maturity Value (in 000's)
------------------------------------------------------------------------------------------------------------------------------
Vanguard Group Collective Investment in Vanguard /Inflation Protected
Securities Fund 10,250
Franklin Advisors Collective Investment in Franklin Small-Mid Cap Growth
Fund A 10,812
Artisan Funds Collective Investment in Small Cap Value Fund 35,331
Dreyfus Management Collective Investment in Appreciation Fund 10,145
Turner Investment Partners Collective Investment in Turner Small Cap Growth Fund 17,710
Capital Research & Management Collective Investment in Washington Mutual Investors
Fund 35,571
Dimensional Fund Advisors Collective Investment in Dimensional Emerging Markets
Fund 55,390
William Blair & Co Collective Investment in Small Cap Growth Fund 18,706
T. Rowe Price Collective Investment in Mid-Cap Growth 32,684
Salomon Brothers Collective Investment in Salomon High Yield Value Bond 21,109
Oppenheimer Funds Collective Investment in Oppenheimer Main Street Small
Cap Y Fund 19,782
Franklin Advisors Collective Investment in Franklin Utilities A 31,613
Allianz/PIMCO Advisors Collective Investment in Total Return Fund Admin Shares 21,874
T. Rowe Price Collective Investment in T. Rowe Price Health and
Science Fund 14,042
MFS Investment Management Collective Investment in Institutional TR
International Equity Funds 57,574
Capital Research & Management Collective Investment in American Funds - New
Perspective A 50,132
William Blair & Co. Collective Investment in International Equity Fund CL 1 6,461
Allianz/PIMCO Advisors Collective Investment in Low Duration Admin Fund 7,514
Morgan Stanley Investment Mgmt. Collective Investment in Inst International Small Cap
Fund A 22,132
DWS Scudder Investments Collective Investment in Scudder -Dreman High Return
Equity A Fund 38,875
Page 20
Edison 401(k) Savings Plan
Schedule I: Form 5500 - Schedule H - Line 4i-
Schedule of Assets (Held at End of Year) as of December 31, 2006
------------------------------------------------------------------------------------------------------------------------------
(a) (b) (c) (d) (e)
Current
Identity of Issuer, Borrower, Description of Investment Including Maturity Date, Cost** Value
Lessor, or Similar Party Rate of Interest, Par or Maturity Value (in 000's)
------------------------------------------------------------------------------------------------------------------------------
Lord Abbett Collective Investment in Lord Abbett Mid Cap Value Fund 11,454
Vanguard Group Collective Investment in Mid Cap Index Fund 67,663
Artisan Funds Collective Investment in Mid Cap Fund A 4,493.
T. Rowe Price Collective Investment in Mid Cap Value Fund 35,195
T. Rowe Price Collective Investment in Financial Services Value Fund 9,285
Allianz/PIMCO Advisors Collective Investment in RCM Global Technology Fund A 33,837
Capital Research & Management Collective Investment in American Balance Fund 46,990
Allianz/PIMCO Advisors Collective Investment in Capital Appreciation Admin
Fund 9,897
Allianz/PIMCO Advisors Collective Investment in Long Term US Government Bonds 11,280
T. Rowe Price Collective Investment in Small Cap Stock Fund 10,914
Morgan Stanley Investment Mgmt. Collective Investment in Institutional International
Equity Fund 16,157
Janus Capital Corporation Collective Investment in Small Cap Value Fund 13,574
Harbor Capital Advisors Collective Investment in Capital Appreciation Fund 14,428
UBS Global Asset Management Collective Investment in Global Allocation Y 12,723
MFS Investment Management Collective Investment in Total Return Fund A 3,884
-----------
Total Mutual Funds 999,863
-----------
Participant Loans Loans With Maturities Varying From One to Four Years
(or up to 15 Years for Purchase of a Primary
Residence) and Interest Rates of 5.0 % to 10.5% 61,821
-----------
Total $ 3,403,896
-----------
* Party-In-Interest
** Investments are participant-directed; therefore, disclosure of cost is not required.
Page 21
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who
administer the Plan) have duly caused this annual report to be signed on its behalf by the undersigned
hereunto duly authorized.
Dated: June 27, 2007 EDISON 401(K) SAVINGS PLAN
By: /s/ Diane L. Featherstone
--------------------------
Diane L. Featherstone
Chair of the Southern California Edison Company
Benefits Committee
Page 22
Consent of Independent Registered Public Accounting Firm Exhibit 23
Edison International
Rosemead, California
We hereby consent to the incorporation by reference in the Prospectus constituting a part of the Registration
Statements on Form S-8 of Edison International, as listed below, of our report dated June 27, 2007, relating
to the financial statements and supplemental schedule of the Edison 401(k) Savings Plan (the "Plan")
appearing in the Plan's Annual Report on Form 11-K for the year ended December 31, 2006.
Registration Form File No. Effective Date
---------------------------------- ---------------------- ------------------------------
Form S-8 333-129442 November 4, 2005
Form S-8 333-115802 May 24, 2004
Form S-8 333-101038 November 6, 2002
Form S-8 333-74240 November 30, 2001
BDO Seidman, LLP
Costa Mesa, California
June 25, 2007
Page 23
(SEC financial statements)
Page 24