This Annual Report on Form 10-K contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect Edison International's and SCE's current expectations and projections about future events based on Edison International's and SCE's knowledge of present facts and circumstances and assumptions about future events and include any statements that do not directly relate to a historical or current fact. Other information distributed by Edison International and SCE that is incorporated in this report, or that refers to or incorporates this report, may also contain forward-looking statements. In this report and elsewhere, the words "expects," "believes," "anticipates," "estimates," "projects," "intends," "plans," "probable," "may," "will," "could," "would," "should," and variations of such words and similar expressions, or discussions of strategy or plans, are intended to identify forward-looking statements. Such statements necessarily involve risks and uncertainties that could cause actual results to differ materially from those anticipated. Some of the risks, uncertainties and other important factors that could cause results to differ from those currently expected, or that otherwise could impact Edison International and SCE, include, but are not limited to the:

See "Risk Factors" in this report for additional information on risks and uncertainties that could cause results to differ from those currently expected or that otherwise could impact Edison International, SCE or their subsidiaries.

Additional information about risks and uncertainties, including more detail about the factors described in this report, is contained throughout this report. Readers are urged to read this entire report, including information incorporated by reference, and carefully consider the risk, uncertainties and other factors that affect Edison International's and SCE's businesses. Forward-looking statements speak only as of the date they are made and neither Edison International nor SCE are obligated to publicly update or revise forward-looking statements. Readers should review future reports filed by Edison International and SCE with the SEC. Edison International and SCE provide direct links to SCE'scertain SCE regulatory filings with the CPUC and the FERC and certain agency rulings and notices in open proceedings most important to investors at www.edisoninvestor.com (SCE Regulatory Highlights) so that such filings are available to all investors. Edison International and SCE also routinely post or provide direct links to presentations, documents and other information that may be of interest to investors upon SCE filing with the relevant agency.at www.edisoninvestor.com (Events and Presentations) in order to publicly disseminate such information.

Except when otherwise stated, references to each of Edison International, SCE, EMG,Edison Mission Group, Inc., Edison Energy Group, EME or Edison Capital mean each such company with its subsidiaries on a consolidated basis. References to "Edison International Parent and Other" mean Edison International Parent and its consolidated competitive subsidiaries.

Consolidated non-core items for 2017, 2016 and 2015 for Edison International included:

The electric power industry is undergoing transformative change driven by technological advancements such as customer-owned generation and energy storage, which could alter the nature of energy generation and delivery. California's environmental policy objectives are accelerating the pace and scopecauses of the industry change. The electric grid is a critical enablerDecember 2017 Wildfires are being investigated by Cal Fire and other fire agencies. SCE believes the investigations include the possible role of SCE's facilities. SCE expects that one or more of the adoption of new energy technologies that support California's climate changefire agencies will ultimately issue reports concerning the origins and GHG reduction objectives, which continue to be publicly supported by California policy makers notwithstanding a potential change in the federal approach to such matters. The grid is also key to enabling more customer choices with respect to new energy technologies. The transformative change taking place in the electric power industry is integral to Edison International's strategy.

ChangesAny potential liability of SCE for December 2017 Wildfire-related damages will depend on a number of factors, including whether SCE is determined to have substantially caused, or contributed to, the damages and whether parties seeking recovery of damages will be required to show negligence in addition to causation. Certain California courts have previously found utilities to be strictly liable for property damage, regardless of fault, by applying the electric power industry are impacting customers and jurisdictions outside California as well. Edison International believestheory of inverse condemnation when a utility's facilities were determined to be a substantial cause of a wildfire that other states will also pursue climate change and GHG reduction objectives, even ifcaused the federal approach to such objectives changes, and large commercial and industrial customers will continue to pursue cost reduction and sustainability goals. Edison Energy Group provides energy services to large commercial and industrial customers who may be impactedproperty damage. The rationale stated by these changes. Edison Energy Group seekscourts for applying this theory to provide advice in dealing with increasingly complex tariff and technology choices in order to support customers and their management of energy costs and risks.

In addition to liability for property damages, when inverse condemnation is found to be applicable to a utility, the issuanceutility may be held liable, without regard to fault, for associated interest and attorney's fees (collectively, "Property Losses"). If inverse condemnation is held to be inapplicable to SCE in connection with the December 2017 Wildfires, SCE could still be held liable for Property Losses if those losses were found to have been proximately caused by SCE’s negligence. If SCE was found negligent, SCE also could be held liable for fire suppression costs, business interruption losses, evacuation costs, medical expenses and personal injury/wrongful death claims. These potential liabilities, in the aggregate, could be substantial. Additionally, SCE could potentially be subject to fines for alleged violations of guidance onCPUC rules and laws in connection with the December 2017 Wildfires.

SCE is aware of multiple lawsuits filed related to the December 2017 Wildfires naming SCE as a defendant. One of these lawsuits also named Edison International as a defendant. At least four of these lawsuits were filed as purported class actions. The lawsuits, which have been filed in the superior courts of Ventura, Santa Barbara and Los Angeles Counties allege, among other things, negligence, inverse condemnation, trespass, private nuisance, and violations of the public utility spending to modify its grid in order to support its DRP.and health and safety codes. SCE expects to receive such guidancebe the subject of additional lawsuits related to the December 2017 Wildfires. The litigation could take a number of years to be resolved because of the complexity of the matters and the time needed to complete the ongoing investigations.

SCE has approximately $1 billion of wildfire-specific insurance coverage, subject to a self-insured retention of $10 million per occurrence, for wildfire-related claims for the period ending on May 31, 2018. SCE also has approximately $300 million of additional insurance coverage for wildfire-related occurrences for the period from December 31, 2017 to December 31, 2018, which may be used in addition to the $1 billion in wildfire insurance for wildfire events occurring on or after December 31, 2017 and on or before May 31, 2018, and would be available for new wildfire events, if any, occurring after May 31, 2018 and on or before December 30, 2018. Various coverage limitations within the policies that make up SCE's wildfire insurance coverage could result in material self-insured costs in the second halfevent of 2017.multiple wildfire occurrences during a policy period. SCE also has other general liability insurance coverage of approximately $450 million but it is uncertain whether these other policies would apply to liabilities alleged to be related to wildfires. Should responsibility for damages be attributed to SCE for a significant portion of the losses related to the December 2017 Wildfires, SCE's insurance may not be sufficient to cover all such damages. In addition, SCE may not be authorized to recover its uninsured damages through customer rates if, for example, the CPUC finds that the damages were incurred because SCE was not a prudent manager of its facilities. The CPUC's SED is conducting an investigation to assess the compliance of SCE's facilities with applicable rules and regulations in areas impacted by the December 2017 Wildfires.

In January 2016,2018, torrential rains in Santa Barbara County produced mudslides and flooding in Montecito and surrounding areas (the "Montecito Mudslides"). According to Santa Barbara County, the CPUC approved SCE's $22 million Charge Ready Phase 1 pilot program, which will allow SCE to install light-duty vehicle charging infrastructure, provide rebates to offset the cost of qualified customer-owned charging stations,Montecito Mudslides destroyed an estimated 135 structures, damaged an estimated 324 structures, and implement a supporting market education effort. Under the Phase 1 pilot program, SCE will build, own and maintain the electric infrastructure needed to serve the qualified charging stationsresulted in at participating customer locations. Participating customers will install, own, maintain, and operate the charging stations. By the end of January 2017, SCE had executed agreements for 50 sites to deploy 776 charge ports. The results of this pilot will help shape Phase 2least 21 fatalities, with two additional fatalities presumed.

Six of the program.lawsuits mentioned above allege that SCE has responsibility for the Thomas Fire and that the Thomas Fire proximately caused the Montecito Mudslides, resulting in the plaintiffs' claimed damages. SCE expects that additional lawsuits related to the Montecito Mudslides will file an applicationbe filed.

As noted above, the cause of the Thomas Fire has not been determined. In the event that SCE is determined to obtain CPUC approvalhave liability for Phase 2 after at least one year (Phase 1 launched in late May 2016) and 1,000 charge ports have been deployed.

If it is ultimately authorizedetermined that SCE is legally responsible for 2018 through 2020 or forecastlosses caused by the timing of a final decision.Montecito Mudslides, SCE could be held liable for resulting Property Losses if inverse condemnation is found applicable. If SCE is determined to have been negligent, in addition to Property Losses, SCE could be liable for business interruption losses, evacuation costs, clean-up costs, medical expenses and personal injury/wrongful death claims associated with the Montecito Mudslides. These liabilities, in the aggregate, could be substantial. SCE cannot predict whether it will be subjected to regulatory fines related to the Montecito Mudslides.

Replacement steam generators were installed at San Onofre in 2010 and 2011. On January 31, 2012, a leak suddenly occurred in one of the heat transfer tubes in San Onofre's Unit 3 steam generators. The Unit was safely taken off-line and subsequent inspections revealed excessive tube wear. Unit 2 was off-line for a planned outage when areas of unexpected tube wear were also discovered. On June 6, 2013, SCE decided to permanently retire Units 2 and 3.

Edison International expects to be a leader in the transformation of Capitalthe industry by focusing on opportunities in clean energy and efficient electrification, building a modernized and more reliable grid, and enabling customers' technology choices.

As part of SCE's December update in the prior CPUC decisions addressing the Investor-Owned Utilities' costs of capital. The requested modifications would extend the next cost of capital application filing deadline two years to April 22, 2019GRC proceedings for the year 2020; reset SCE's authorized cost of long-term debt and preferred stock in 2018; and reduce SCE's authorized ROE. Subject to the CPUC's approval of the petition for modification, SCE's authorized ROE will be reduced from the current 10.45% to 10.30% beginning on January 1, 2018. Thethree-year period 2018 – 2020, SCE updated cost of capital and correspondingits 2018 revenue requirement impact will be submittedrequest from $5.885 billion to $5.673 billion, a $33 million increase over the CPUC in September 2017 to be effective January 1, 2018. While the actual changes to SCE'sGRC authorized revenue requirement, resulting from the petition for modification will not be known until SCE's filingand proposed post-test year increases in September 2017, SCE estimates that its annual revenue requirement will be reduced2019 and 2020 of $477 million and $554 million, respectively. The changes are primarily driven by approximately $66 million (approximately $39 million after-tax), beginning in 2018. Changes in market interest rates can have material effects on the cost of SCE’s future financings and consequently on the estimated change in annual revenue requirements.

In April 2017 intervenor testimony, the ORA proposed, among other things, capturing grid modernization spending in a memorandum account for review in the 2021 GRC. TURN recommended reductions of 78% of grid modernization capital structure (48% common equity, 43% long-term debt,expenditures in 2018 and 9% preferred equity) will remain unchangedinitially recommended adjustments to rate base for historical capital expenditures, including a reduction of $550 million, primarily related to certain distribution infrastructure replacement programs.

Public participation hearings and updated testimony were completed in late 2017. A final 2018 GRC decision is not expected until later in 2018. SCE expects to recognize revenue based on the 2017 authorized revenue requirement, adjusted for the July cost of capital adjustment mechanism would not operate in 2017 but could operate indecision and Tax Reform, until a GRC decision is issued. The CPUC has approved the establishment of a GRC memorandum account, which will make the 2018 to change the cost of capital for 2019. If the mechanism is activated for 2019, SCE’s new 10.30% ROE will be adjusted according to the existing terms of the mechanism.

The increaseCPUC has approved 81%, 89%, and 92% of the traditional capital expenditures requested in the 2009, 2012, and 2015 GRC decisions, respectively. While SCE cannot predict the level of traditional capital spending that will be approved in the 2018 GRC decision, management is mainlynot aware of factors that would cause the percentage of SCE's request that is approved to be materially different from what has been approved in recent GRC decisions. SCE does not have prior approval experience with grid modernization capital expenditures and, therefore, is unable to predict an expected outcome. The table below reflects expected CPUC jurisdictional capital expenditures for 2018 and requested capital expenditures for 2019 – 2020. FERC jurisdictional capital expenditures are based on management’s expectations. Forecasted expenditures for FERC capital projects are subject to change due to timeliness of permitting, licensing, regulatory approvals, and contractor bids. For further information regarding updates for large transmission and substation projects, see "Liquidity and Capital Resources—SCE—Capital Investment Plan." The following table sets forth a summary of capital expenditures for 2017 actual spend and a forecast for 2018 – 2020 on the completion of several major transmission projectsbasis described above:

All of the plan's proposed transportation electrification projects are subject to settlement discussions with SED and CPUC review and approval, SCE has recorded a liabilitythe timing and amount of capital investments for the estimated loss.any approved project will depend upon implementation decisions, including scope and pace of adoption and GRC ratemaking decisions and other CPUC actions. The capital costs for these proposed projects are not included in SCE's capital spending and rate base forecasts provided above.

SCE's results of operations are derived mainly through two sources:

The following table is a summary of SCE's results of operations for the periods indicated.

EarningCost-recovery activities were primarily affected by the following:

Cost-recovery activities were primarily affected by the following:

SCE's retail billed and unbilled revenue (excluding wholesale sales and balancing account over/undercollections) was

The 2016 revenue reflects:

As a result of the CPUC-authorized decoupling mechanism, SCE earnings are not affected by changes in retail electricity sales (see "Business—SCE—Overview of Ratemaking Process").

Results of operations for Edison International Parent and Other includes amounts from other subsidiaries that are not significant as a reportable segment, as well as intercompany eliminations.

The following table summarizes the results of Edison International Parent and Other:

SCE's ability to operate its business, fund capital expenditures, and implement its business strategy is dependent upon its cash flow and access to the bank and capital markets. SCE's overall cash flows fluctuate based on, among other things, its ability to recover its costs in a timely manner from its customers through regulated rates, changes in commodity prices and volumes, collateral requirements, interest obligations, dividend payments, to Edison International, and the outcome of tax and regulatory matters.

As discussed in "Management Overview," Tax Reform is expected to lower rates charged to customers which will result in less cash available to fund operations. In the next 12 months, SCE expects to fund its obligations, capital expenditures and dividends through operating cash flows, tax benefits and capital market financings of debt and preferred equity, as needed. SCE also has availability under its credit facilities to fund cash requirements.

At December 31, 2016,2017, SCE had $1.89$1.41 billion available under its $2.75 billion credit facility. The credit facility is available for borrowing needs until July 2022. In December 2017, SCE borrowed $500 million from its credit facility. On January 26, 2018, SCE repaid its $500 million borrowings with cash on hand. For further details, see "Notes to Consolidated Financial Statements—Note 5. Debt and Credit Agreements.Agreements" and "—Note 12. Preferred and Preference Stock of Utility."

SCE may finance balancing account undercollections and working capital requirements to support operations and capital expenditures with commercial paper, its credit facility or other borrowings, subject to availability in the bank and capital markets. To the extent necessary, SCE would utilize its available liquidity, capital market financings of debt and preferred equity or parent company contributions to SCE equity in order to meet its obligations as they become due, including any potential costs related to the December 2017 Wildfires and Montecito Mudslides (see "Management Overview—Southern California Wildfires" and "—Montecito Mudslides" for further information).

The debt covenant in SCE's credit facility limits its debt to total capitalization ratio to less than or equal to 0.65 to 1. At December 31, 2016,2017, SCE's debt to total capitalization ratio was 0.430.45 to 1.

At December 31, 2016,2017, SCE was in compliance with all other financial covenants that affect access to capital.

transmission lines between the Devers, El Casco, Vista and San Bernardino substations, increasing the power transfer capabilities in support of California's renewable portfolio standards goals.

In August 2016, the CPUC approved the construction of the West of Devers Project. As a result of the delay in receipt of the Project's approval from the CPUC, SCE has deferred the forecasted timing of project capital expenditures. ORA filed an Application for Rehearing in September 2016 stating that the August 2016 decision failed to follow the California Environmental Quality Act when it approved the Project and should have approved thean alternative project with thean amended scope. SCE does not know whenIn March 2017, the CPUC will issueissued a decision on thedenying ORA's September 2016 Application for Rehearing. There is no stay of activities pending determinationThis action confirmed SCE's proposed project. In December 2017, SCE awarded the competitive bid for transmission construction, which resulted in a decrease to the expected cost of the Application for Rehearing and SCE is continuing to perform activities related to construction, such as environmental permitting and mitigation planning in order to achieve a 2021 in-service date.Project.

In July 2017, the CPUC issued a final decision that adopted the petition previously filed by SCE, Pacific Gas & Electric Company, SDG&E, and SoCalGas (collectively, the "Investor-Owned Utilities"), ORA, and TURN to modify the prior CPUC decisions addressing the Investor-Owned Utilities' costs of capital. The Tehachapi Project consistsdecision extended the deadline for the next Investor-Owned Utilities cost of newcapital application to April 2019, reset SCE's authorized cost of long-term debt to 4.98% and upgraded electric transmission linespreferred stock to 5.82%, and substations between eastern Kern Countyestablished SCE's authorized ROE at 10.30%, both beginning January 1, 2018. In October 2017, the CPUC approved SCE's updated debt and San Bernardino County and was undertaken to bring renewable resources in Kern County to energy consumers in the Los Angeles basin and the California energy grid. The project consists of eleven segments. Segments 1-3 were placed in service beginning in 2009 through 2013. Segments 4-11 were placed in service in December 2016.

In December 2017, the FERC issued an order setting the effective date of SCE's new formula rate as January 1, 2018, subject to settlement procedures and refund. The new formula rate results in a petition for modification withdecrease in SCE's transmission revenue requirement of $19 million or 1.6% lower than amounts authorized in 2017 rates primarily due to higher recovery of undercollections in previous periods.

In December 2017, the CPUC in January 2017 to update the cost estimate for all elementsawarded SCE incentives of segments 4-11 to $2.7 billion (2016 dollars) from $2.0 billion (2016 dollars) of CPUC-approved cost findings. The cost increase is based on several factors, including additional project scope, schedule delays and work stoppages due to regulatory activity, increased environmental activities, and higher costs than the historical data used for estimates. Many of the cost increases are due to external factors not contemplated when the initial cost estimates were developed and not accounted for in the CPUC's original cost findings, which had also reduced the amount of contingency significantly below SCE's original estimates. Cost recovery for nearly all transmission elements of the project is incorporated in the existing FERC rates, subject to FERC review and approval.

SCE made $701$573 million and $758$701 million in dividend payments to its parent, Edison International, in 2017 and 2016, respectively. During the fourth quarter of 2017, SCE declared a dividend to Edison International of $212 million, which was paid on January 31, 2018.

The CPUC regulates SCE's capital structure which limits the dividends it may pay Edison International. Under CPUC regulations, SCE may make distributions to Edison International as long as the common equity component of SCE's capital structure remains at or above 48% on a 13-month average basis, or otherwise satisfies the CPUC requirements. If the Revised San Onofre Settlement Agreement is approved by the CPUC, SCE may exclude the $448 million after-tax charge resulting from the implementation of the Revised San Onofre Settlement Agreement from its ratemaking capital structure. At December 31, 2017, without excluding the $448 million after-tax charge, SCE's 13-month average common equity component of total capitalization was 50.0% and 2015, respectively. the maximum additional dividend that SCE could pay to Edison International under this limitation was approximately $511 million, resulting in a restriction on net assets of approximately $14.2 billion. If the Revised San Onofre Settlement Agreement had been approved by the CPUC at December 31, 2017, the common equity component of SCE's capital structure would have been 50.1% on a 13-month average basis.

The timing and amount of future dividends are also dependent upon severalon a number of other factors including the level ofSCE's requirements to fund other obligations and capital expenditures, and its ability to access the capital markets, and generate operating cash flows and earnings. If SCE incurs significant costs for 2017 Wildfires-related damages and is unable to recover such costs through insurance or from customers or access capital markets on reasonable terms, SCE may be limited in its ability to pay future dividends to Edison International and its preferred and preference shareholders. See "Notes to Consolidated Financial Statements—Note 1. Summary of Significant Accounting Policies—SCE Dividend Restrictions" for discussion of dividend restrictions.

Some of the power procurement contracts contain provisions that require SCE to maintain an investment grade credit rating from the major credit rating agencies. If SCE's credit rating were to fall below investment grade, SCE may be required to pay the liability or post additional collateral.

The table below provides the amount of collateral posted by SCE to its counterparties as well as the potential collateral that would be required as of December 31, 2016.2017.

SCE's cash flows are affected by regulatory balancing accounts over-overcollections or under-collections. Over-undercollections. Overcollections and under-collectionsundercollections represent differences between cash collected in current rates for specified forecasted costs and the costs actually incurred. With some exceptions, SCE seeks to adjust rates on an annual basis or at other designated times to recover or refund the balances recorded in its balancing account. Under-accounts. Undercollections or over-collectionsovercollections in these balancing accounts impact cash flows and can change rapidly. Over-Undercollections- and under-collectionsovercollections accrue interest based on a three-month commercial paper rate published by the Federal Reserve.

In the next 12 months, Edison International expects to fund its obligations, capital expenditures and dividends through operating cash flows, tax benefits and capital market financings, as needed. Edison International also has availability under its credit facilities to fund cash requirements. In December 2017, Edison International declared an 11.5% increase to the annual dividend rate from $2.17 per share to $2.42 per share. On February 22, 2018, Edison International declared a dividend of $0.605 per share to be paid on April 30, 2018. Edison International Parent and Other's liquidity and its ability to pay operating expenses and pay dividends to common shareholders are dependent on dividends from SCE, realization of tax benefits, and access to the bank and capital markets.markets, and its ability to meet California law requirements for the declaration of dividends. For information on the California law requirements on the declaration of dividends, see "—SCE—SCE Dividends." Edison International intends to maintain its target payout ratio of 45% – 55% of SCE's core earnings, subject to the factors identified above. Edison International may also finance working capital requirements, payment of obligations, and capital investments, including capital contributions to subsidiaries, to fund new businesses,and common stock dividends with commercial papershort-term or other borrowings,financings, subject to availability in the bank and capital markets.

At December 31, 2016,2017, Edison International Parent had $712approximately $524 million of cash and cash equivalents and $111 million available of net borrowing capacity under its $1.25 billion multi-year revolving credit facility. In December 2017, Edison International Parent borrowed $500 million from its credit facility. The $500 million credit facility was repaid on January 26, 2018 from cash on hand. In addition, on January 26, 2018, Edison International Parent issued a $500 million term loan and the proceeds of the loan were used to pay down the commercial paper outstanding. At February 20, 2018, Edison International Parent had available liquidity of approximately $1.1 billion on its credit facility. The credit facility is available for borrowing needs until July 2022. For further details, see "Notes to Consolidated Financial Statements—Note 5. Debt and Credit Agreements."

The debt covenant in Edison International Parent's credit facility requires a consolidated debt to total capitalization ratio as defined in the credit agreement of less than or equal to 0.65 to 1. At December 31, 2016,2017, Edison International Parent's consolidated debt to total capitalization ratio was 0.470.51 to 1.

The following table summarizes major categories of net cash provided by operating activities as provided in more detail in SCE's consolidated statements of cash flows for 2017, 2016 2015 and 2014.2015.

Net cash provided by operating activities was impacted by the following:

Net income and noncashnon-cash items increased in 2017 by $575 million from 2016 and increased in 2016 by $265 million from 2015. The increase in 2017 was primarily due to an increase in revenue from the escalation mechanism set forth in the 2015 GRC decision and decreasedlower operation and maintenance expenses, partially offset by higher financing costs along with non-cash items. Non-cash items included changes in 2015 by $604deferred income taxes and investment tax credits of $304 million from 2014.in 2017 and $88 million in 2016. The increase in 2016 was primarily due to higher authorized revenue in 2016 from the escalation mechanism set forth in the 2015 GRC decision. The decrease in 2015 was primarily due to the implementation of the 2015 GRC decision. The factors that impacted these items are discussed under "Results of Operations—SCE—Earning Activities."

Net cash for working capital was $(120) million, $236 million and $16 million in 2017, 2016 and $79 million in 2016, 2015, and 2014, respectively. The net cash for 2017, 2016 and 2015 was primarily related to timing of disbursements ($45125 million, in 2016$45 million and $120 million in 2015)2017, 2016 and timing of receipts2015, respectively) and the decrease in receivables from customers ($230163 million, $220 million and $93 million in 2017, 2016 and 2015, respectively). Net cash for working capital also included an insurance premium payment of $121 million for additional wildfire coverage in December 2017 and changes in tax receivables and payables of $(234) million in 2017 and $(16) million in 2016 and $70 millionprimarily due to the utilization of net operating losses in 2015).2017. In addition, SCE had net tax payments of $78 million in 2016 and $144 million in 2015. The net cash in 2014 was primarily related to net tax refunds of $88 million due to net operating loss carrybacks to periods that SCE previously had taxable income.

Net cash provided by regulatory assets and liabilities, including changes in over (under) collections of balancing accounts, was $4 million, $(292) million and $1.7 billion in 2017, 2016 and $(358) million in 2016, 2015, and 2014, respectively. SCE has a number of balancing accounts, which impact cash flows based on differences between timing of collection of amounts through rates and accrual expenditures. Cash flows were primarily impacted by the following:

2016

2015

The following table summarizes cash provided by financing activities for 2017, 2016 2015 and 2014.2015. Issuances of debt and preference stock are discussed in "Notes to Consolidated Financial Statements—Note 5. Debt and Credit Agreements—Long-Term Debt" and "—Note 12. Preferred and Preference Stock of Utility."