Edison International (EIX) 8-K Edison International Reports Strong 2007 Operating Performance

Exhibit 99.1

News Release

FOR IMMEDIATE RELEASE

Media Relations: Charles Coleman,(626) 302-7982

www.edisonnews.com

Investor Relations: Scott Cunningham,(626) 302-2540

www.edisoninvestor.com

Edison International Reports Strong 2007 Operating Performance

• 2007 GAAP earnings were $3.33 per share compared to $3.58 per share in 2006.

• Excluding non-core items, 2007 core earnings increased 20 percent to $3.69 per share from $3.07 per share last year, reflecting strong operating performance at Southern California Edison (SCE) and Edison Mission Group (EMG).

• EMG’s May 2007 $2.7 billion debt restructuring, which extended debt maturities at attractive pricing and terms, largely drove the 2007 non-core charge of $0.36 per share, resulting in the difference between GAAP and core earnings. Non-core items were a positive $0.51 per share in 2006.

• Fourth quarter 2007 GAAP earnings were $0.64 per share versus $0.87 per share in the prior year. Core earnings were $0.65 per share in both periods, and exclude non-core items of $(0.01) per share in 2007 and $0.22 per share in 2006.

• The company announced 2008 earnings guidance of $3.61 - $4.01 per share.

Edison International Fourth Quarter and 2007 Financial Highlights

	Quarter Ended December 31,							Full Year
(In millions, except per share data)	2007		2006		Change			2007		2006		Change
GAAP earnings per share	$	0.64	$	0.87	$	(0.23	)	$	3.33	$	3.58	$	(0.25	)
Core earnings per share	$	0.65	$	0.65		—		$	3.69	$	3.07	$	0.62
GAAP earnings	$	211	$	288	$	(77	)	$	1,098	$	1,181	$	(83	)
Core earnings	$	214	$	215	$	(1	)	$	1,217	$	1,015	$	202

ROSEMEAD, Calif., February 27, 2008 – Edison International (NYSE: EIX) today reported 2007 earnings of $3.33 per share. Excluding non-core items, 2007 core earnings were $3.69 per share, up 20 percent compared with $3.07 per share last year. This increase was driven mainly by higher energy margins at EMG and solid operating results at SCE.

“Edison International performed well in 2007, reflecting completion of record utility infrastructure improvements and strong performance in our competitive power generation business,” said John Bryson, chairman and CEO. “During the year, our team also significantly moved forward our leading national positions in advanced smart grid and meter technologies, energy efficiency, and renewable energy.”

Note: GAAP earnings refers to net income and GAAP earnings per share refers to basic earnings per share throughout this release. Core earnings is a non-GAAP financial measure; see reconciliation of core earnings to GAAP earnings and reconciliation of core earnings guidance to GAAP earnings guidance.

-MORE-

EDISON INTERNATIONAL REPORTS 2007 FINANCIAL RESULTS

Page 2 of 12

FOURTH QUARTER EARNINGS DETAIL

Fourth quarter 2007 GAAP earnings were $0.64 per share, compared to $0.87 in the fourth quarter of 2006 as the result of non-core items in the fourth quarter of last year. Excluding non-core items, fourth quarter core earnings were $0.65 per share, unchanged from the same period a year ago, as higher earnings at SCE were offset by lower results at EMG.

Earnings from Continuing Operations

SCE fourth quarter 2007 earnings from continuing operations were $0.37 per share compared to earnings of $0.48 per share in the same period last year, primarily from the favorable resolution of a state tax issue in the 2006 period. Excluding 2006 non-core benefits, SCE’s core earnings increased $0.05 per share to $0.37 per share. This increase was primarily due to settlement of a tariff dispute.

EMG fourth quarter 2007 earnings from continuing operations were $0.30 per share compared to $0.35 per share in the same period last year. Excluding non-core items, EMG’s core earnings were $0.30 per share compared to $0.36 per share a year earlier. The decrease was primarily due to lower earnings from Edison Capital and higher EMG corporate costs, partially offset by lower interest expense and higher trading margin.

Results of Discontinued Operations

Edison International’s loss from discontinued operations was $0.01 per share in the fourth quarter of 2007 compared to earnings of $0.07 per share in the fourth quarter of 2006. Discontinued operations relate to adjustments resulting from the sale of EMG’s former international projects.

	Quarter Ended December 31,
	2007			2006			Change
Earnings (Loss) Per Share (Unaudited)
Southern California Edison Company	$	0.37		$	0.48		$	(0.11	)
Edison Mission Group		0.30			0.35			(0.05	)
EIX parent company and other		(0.02	)		(0.03	)		0.01
EIX GAAP earnings per share from continuing operations		0.65			0.80			(0.15	)
Earnings (loss) from discontinued operations		(0.01	)		0.07			(0.08	)
EIX GAAP earnings per share	$	0.64		$	0.87		$	(0.23	)
EIX diluted earnings per share	$	0.64		$	0.87		$	(0.23	)
	Quarter Ended December 31,
	2007			2006			Change
Earnings (Loss) (in millions) (Unaudited)
Southern California Edison Company	$	120		$	158		$	(38	)
Edison Mission Group		99			113			(14	)
EIX parent company and other		(5	)		(5	)		—
EIX income from continuing operations		214			266			(52	)
Earnings (loss) from discontinued operations		(3	)		22			(25	)
EIX net income	$	211		$	288		$	(77	)

-MORE-

EDISON INTERNATIONAL REPORTS 2007 FINANCIAL RESULTS

Page 3 of 12

Fourth Quarter Reconciliation of Core Earnings to GAAP Earnings

	Quarter Ended December 31,
	2007			2006			Change
Core Earnings1 (Loss) Per Share (Unaudited)
Southern California Edison Company	$	0.37		$	0.32		$	0.05
Edison Mission Group		0.30			0.36			(0.06	)
EIX parent company and other		(0.02	)		(0.03	)		0.01
EIX core earnings per share		0.65			0.65			—
Non-core items
SCE – tax item		—			0.15			(0.15	)
SCE – generator refund incentive		—			0.01			(0.01	)
EMG – early debt extinguishment		—			(0.01	)		0.01
Discontinued operations		(0.01	)		0.07			(0.08	)
Total non-core items		(0.01	)		0.22			(0.23	)
EIX GAAP earnings per share	$	0.64		$	0.87		$	(0.23	)
	Quarter Ended December 31,
	2007			2006			Change
Core Earnings1 (Loss) (in millions) (Unaudited)
Southern California Edison Company	$	120		$	105		$	15
Edison Mission Group		99			115			(16	)
EIX parent company and other		(5	)		(5	)		—
EIX core earnings		214			215			(1	)
Non-core items
SCE – tax item		—			49			(49	)
SCE – generator refund incentive		—			4			(4	)
EMG – early debt extinguishment		—			(2	)		2
Discontinued operations		(3	)		22			(25	)
Total non-core items		(3	)		73			(76	)
Total EIX net income	$	211		$	288		$	(77	)

¹ See Use of Non-GAAP Financial Measures on page 6. The impact of participating securities is included in EIX parent company and other and was $(0.01) and $(0.01) per share for the quarter ended December 31, 2007 and 2006, respectively.

FULL-YEAR EARNINGS DETAIL

Earnings from Continuing Operations

SCE’s earnings from continuing operations in 2007 were $2.17 per share compared with $2.38 per share a year ago. SCE’s 2007 results include a non-core tax benefit of $0.10 per share primarily related to the income tax treatment of certain costs associated with environmental remediation. SCE’s 2006 results include $0.49 per share in benefits related primarily to favorable resolution of tax and regulatory matters and generator settlements. Excluding these non-core items, SCE’s core earnings in 2007 were $2.07 per share, compared with $1.89 per share in 2006. The increase is mainly due to higher operating margin, lower income taxes, and the tariff settlement, partially offset by higher net interest expense.

-MORE-

EDISON INTERNATIONAL REPORTS 2007 FINANCIAL RESULTS

Page 4 of 12

EMG’s earnings from continuing operations in 2007 were $1.27 per share compared with $1.02 per share in 2006. Both 2007 and 2006 results were impacted by non-core early debt extinguishment costs. Excluding non-core items, EMG’s core earnings in 2007 were $1.72 per share compared with $1.30 per share in 2006. This increase primarily reflects higher operating income at Midwest Generation and Homer City, lower interest expense, and higher project income and trading margin, partially offset by higher development and other corporate costs and lower earnings from Edison Capital.

Results of Discontinued Operations

Edison International’s loss per share from discontinued operations was $0.01 for 2007, compared with earnings per share from discontinued operations of $0.30 per share for 2006. 2006 results include distributions from EMG’s Lakeland project in administrative receivership in the United Kingdom.

	Full Year
	2007			2006			Change
Earnings (Loss) Per Share (Unaudited)
Southern California Edison Company	$	2.17		$	2.38		$	(0.21	)
Edison Mission Group		1.27			1.02			0.25
EIX parent company and other		(0.10	)		(0.12	)		0.02
EIX GAAP earnings per share from continuing operations		3.34			3.28			0.06
Earnings/(Loss) from discontinued operations		(0.01	)		0.30			(0.31	)
EIX GAAP earnings per share	$	3.33		$	3.58			(0.25	)
EIX diluted earnings per share	$	3.31		$	3.57			(0.26	)
	Full Year
	2007			2006			Change
Earnings (Loss) (in millions) (Unaudited)
Southern California Edison Company	$	707		$	776		$	(69	)
Edison Mission Group		412			334			78
EIX parent company and other		(19	)		(27	)		8
EIX income from continuing operations		1,100			1,083			17
Income/(Loss) from discontinued operations		(2	)		97			(99	)
Cumulative effect of accounting change – net of tax		—			1			(1	)
EIX net income	$	1,098		$	1,181		$	(83	)

-MORE-

EDISON INTERNATIONAL REPORTS 2007 FINANCIAL RESULTS

Page 5 of 12

Full Year Reconciliation of Core Earnings to GAAP Earnings

	Full Year
	2007			2006			Change
Core Earnings1 (Loss) Per Share (Unaudited)
Southern California Edison Company	$	2.07		$	1.89		$	0.18
Edison Mission Group		1.72			1.30			0.42
EIX parent company and other		(0.10	)		(0.12	)		0.02
EIX core earnings per share		3.69			3.07			0.62
Non-core items
SCE – tax and regulatory items		0.10			0.40			(0.30	)
SCE – generator settlement and refund incentive		—			0.09			(0.09	)
EMG – early debt extinguishment		(0.45	)		(0.28	)		(0.17	)
Discontinued operations		(0.01	)		0.30			(0.31	)
Total non-core items		(0.36	)		0.51			(0.87	)
EIX GAAP earnings per share	$	3.33		$	3.58		$	(0.25	)
	Full Year
	2007			2006			Change
Core Earnings1 (Loss) (in millions) (Unaudited)
Southern California Edison Company	$	676		$	618		$	58
Edison Mission Group		560			424			136
EIX parent company and other		(19	)		(27	)		8
EIX core earnings		1,217			1,015			202
Non-core items
SCE – tax and regulatory items		31			130			(99	)
SCE – generator settlement and refund incentive		—			28			(28	)
EMG – early debt extinguishment		(148	)		(90	)		(58	)
Discontinued operations		(2	)	��	97			(99	)
Total non-core items		(119	)		165			(284	)
Cumulative effect of accounting change – net of tax		—			1			(1	)
Total EIX net income	$	1,098		$	1,181		$	(83	)

¹ See Use of Non-GAAP Financial Measures on page 6. The impact of participating securities is included in EIX parent company and other and was $(0.04) per share and $(0.05) per share for 2007 and 2006, respectively.

2008 EARNINGS GUIDANCE

The company announced 2008 earnings guidance of $3.61 - $4.01 per share for GAAP earnings and core earnings. See the risk disclosure statement on page 7 and the presentation accompanying the company’s conference call for further information.

-MORE-

EDISON INTERNATIONAL REPORTS 2007 FINANCIAL RESULTS

Page 6 of 12

Reconciliation of Core Earnings Guidance to GAAP Earnings Guidance

	2008 Guidance
Core Earnings Per Share1
Southern California Edison	$	2.18 – 2.28
Edison Mission Group	$	1.57 – 1.87
EIX parent company and other	$	(0.14	)
EIX core earnings per share	$	3.61 – $4.01
Non-core items	$	—
EIX GAAP earnings per share	$	3.61 - $4.01

¹ Guidance excludes discontinued operations and change in GAAP accounting rules. The expected impact of participating securities is ($0.05) per share and is included in EIX parent company and other.

Use of Non-GAAP Financial Measures

Edison International’s earnings are prepared in accordance with generally accepted accounting principles used in the United States and represent the company’s earnings as reported to the Securities and Exchange Commission. Our management uses core earnings and EPS by principal operating subsidiary internally for financial planning and for analysis of performance. We also use core earnings and EPS by principal operating subsidiary as primary performance measurements when communicating with analysts and investors regarding our earnings results and outlook, as it allows us to more accurately compare the company’s ongoing performance across periods. Core earnings exclude discontinued operations and other non-core items and are reconciled to GAAP earnings per share.

EPS by principal operating subsidiary is based on the principal operating subsidiary net income and Edison International's weighted average outstanding common shares. The impact of participating securities (vested stock options that earn dividend equivalents that may participate in undistributed earnings with common stock) for each principal operating subsidiary is not material to each principal operating subsidiary’s EPS and is therefore reflected in the results of the Edison International holding company, which we refer to as EIX parent company. EPS and core EPS by principal operating subsidiary are reconciled to GAAP earnings per share.

Reminder: Edison International Will Hold a Conference Call Today

Today, Edison International will hold a conference call to discuss its fourth quarter 2007 financial results and 2008 earnings guidance at 8 a.m. (Pacific Standard Time). Two-way participation in the telephone call is limited to financial analysts and investors, while all other interested parties are invited to participate in a simultaneous webcast at www.edisoninvestor.com. A presentation accompanying management’s comments on the conference call will be available on the web site as well at www.edisoninvestor.com. The domestic call-in number is (800) 356-8584 and the ID# is 11500. In addition to the live simulcast, the webcast will remain posted at www.edisoninvestor.com and telephone replays will be available through Wednesday, March 5, 2008, at the following numbers: (877) 693-4277 – for callers in the U.S.; and (402) 220-0042 – for international callers. The ID# is 11501.

-MORE-

EDISON INTERNATIONAL REPORTS 2007 FINANCIAL RESULTS

Page 7 of 12

Risk Disclosure Statement

Statements contained in this news release about future performance, including, without limitation, earnings, asset and rate base growth, load growth, capital investments, and other statements that are not purely historical, are forward-looking statements. These forward-looking statements reflect our current expectations; however, such statements involve risks and uncertainties. Actual results could differ materially from current expectations. Important factors that could cause different results are discussed under the headings “Risk Factors” and “Management’s Discussion and Analysis” in Edison International’s most recent Form 10-K and other reports filed with the Securities and Exchange Commission and are available on our website: www.edisoninvestor.com. These forward-looking statements represent our expectations only as of the date of this news release, and Edison International assumes no duty to update them to reflect new information, events or circumstances.

# # #

Edison International, through its subsidiaries, is a generator and distributor of electric power and an investor in infrastructure and energy assets, including renewable energy. Headquartered in Rosemead, California, Edison International is the parent company of Southern California Edison, the largest electric utility in California, and Edison Mission Group, a competitive power generation business and parent company to Edison Mission Energy and Edison Capital.

-MORE-

EDISON INTERNATIONAL REPORTS 2007 FINANCIAL RESULTS

Page 8 of 12

Edison International

Consolidated Statements of Income

	Quarter Ended						Year Ended
	December 31,						December 31,
In millions, except per-share amounts	2007			2006			2007			2006
Electric utility	$	2,581		$	2,494		$	10,476		$	10,312
Nonutility power generation		623			554			2,575			2,228
Financial services and other		7			19			62			82
Total operating revenue		3,211			3,067			13,113			12,622
Fuel		449			431			1,875			1,757
Purchased power		694			590			3,124			3,409
Provisions for regulatory adjustment clauses – net		82			281			271			25
Other operation and maintenance		1,176			1,034			4,067			3,762
Depreciation, decommissioning and amortization		327			258			1,264			1,181
Net loss (gain) on sale of utility property and plant		2			(1	)		3			(2	)
Total operating expenses		2,730			2,593			10,604			10,132
Operating income		481			474			2,509			2,490
Interest and dividend income		29			48			154			169
Equity in income from partnerships and unconsolidated subsidiaries – net		7			26			79			79
Other nonoperating income		21			43			95			133
Interest expense – net of amounts capitalized		(175	)		(200	)		(752	)		(807	)
Other nonoperating deductions		(13	)		(28	)		(45	)		(63	)
Loss on early extinguishment of debt		—			(3	)		(241	)		(146	)
Income from continuing operations before tax and minority interest		350			360			1,799			1,855
Income tax expense		100			66			492			582
Dividends on preferred and preference stock of utility not subject to mandatory redemption		13			13			51			51
Minority interest		23			15			156			139
Income from continuing operations		214			266			1,100			1,083
Income (loss) from discontinued operations – net of tax		(3	)		22			(2	)		97
Income before accounting change		211			288			1,098			1,180
Cumulative effect of accounting change – net of tax		—			—			—			1
Net income	$	211		$	288		$	1,098		$	1,181
Weighted-average shares of common stock outstanding		326			326			326			326
Basic earnings (loss) per share:
Continuing operations	$	0.65		$	0.80		$	3.34		$	3.28
Discontinued operations		(0.01	)		0.07			(0.01	)		0.30
Total	$	0.64		$	0.87		$	3.33		$	3.58
Weighted-average shares, including effect of dilutive securities		330			330			331			330
Diluted earnings (loss) per share:
Continuing operations	$	0.65		$	0.80		$	3.32		$	3.27
Discontinued operations		(0.01	)		0.07			(0.01	)		0.30
Total	$	0.64		$	0.87		$	3.31		$	3.57
Dividends declared per common share	$	0.305		$	0.29		$	1.175		$	1.10

-MORE-

EDISON INTERNATIONAL REPORTS 2007 FINANCIAL RESULTS

Page 9 of 12

Edison International

Consolidated Balance Sheets

In millions	December 31, 2007			December 31, 2006
ASSETS
Cash and equivalents	$	1,441		$	1,795
Restricted cash		3			59
Margin and collateral deposits		141			124
Receivables, less allowances of $34 and $29 for uncollectible accounts at respective dates		1,033			1,014
Accrued unbilled revenue		370			303
Fuel inventory		116			122
Materials and supplies		316			270
Accumulated deferred income taxes – net		167			203
Derivative assets		110			328
Regulatory assets		197			554
Short-term investments		81			558
Other current assets		290			152
Total current assets		4,265			5,482
Nonutility property – less accumulated provision for depreciation of $1,765 and $1,627 at respective dates		4,906			4,356
Nuclear decommissioning trusts		3,378			3,184
Investments in partnerships and unconsolidated subsidiaries		272			308
Investments in leveraged leases		2,473			2,495
Other investments		96			91
Total investments and other assets		11,125			10,434
Utility plant, at original cost:
Transmission and distribution		18,940			17,606
Generation		1,767			1,465
Accumulated provision for depreciation		(5,174	)		(4,821	)
Construction work in progress		1,693			1,486
Nuclear fuel, at amortized cost		177			177
Total utility plant		17,403			15,913
Regulatory assets		2,721			2,818
Restricted cash		48			91
Margin and collateral deposits		18			4
Derivative assets		122			131
Rent payments in excess of levelized rent expense under plant operating leases		716			556
Other long-term assets		1,144			832
Total long-term assets		4,769			4,432
Total assets	$	37,562		$	36,261

-MORE-

EDISON INTERNATIONAL REPORTS 2007 FINANCIAL RESULTS

Page 10 of 12

Edison International

Consolidated Balance Sheets

In millions, except share amounts	December 31, 2007			December 31, 2006
LIABILITIES AND SHAREHOLDERS’ EQUITY
Short-term debt	$	500		$	—
Long-term debt due within one year		18			488
Accounts payable		979			926
Accrued taxes		49			155
Accrued interest		160			196
Counterparty collateral		42			36
Customer deposits		219			198
Book overdrafts		212			140
Derivative liabilities		149			181
Regulatory liabilities		1,019			1,000
Other current liabilities		933			983
Total current liabilities		4,280			4,303
Long-term debt		9,016			9,101
Accumulated deferred income taxes – net		5,196			5,297
Accumulated deferred investment tax credits		114			122
Customer advances		155			160
Derivative liabilities		116			86
Power-purchase contracts		22			32
Accumulated provision for pensions and benefits		1,089			1,099
Asset retirement obligations		2,892			2,759
Regulatory liabilities		3,433			3,140
Other deferred credits and other long-term liabilities		1,595			1,267
Total deferred credits and other liabilities		14,612			13,962
Total liabilities		27,908			27,366
Minority interest		295			271
Preferred and preference stock of utility not subject to mandatory redemption		915			915
Common stock, no par value (325,811,206 shares outstanding at each date)		2,225			2,080
Accumulated other comprehensive income (loss)		(92	)		78
Retained earnings		6,311			5,551
Total common shareholders’ equity		8,444			7,709
Total liabilities and shareholders’ equity	$	37,562		$	36,261

-MORE-

EDISON INTERNATIONAL REPORTS 2007 FINANCIAL RESULTS

Page 11 of 12

Edison International

Consolidated Statements of Cash Flows

	Year Ended December 31,
In millions	2007			2006			2005
Cash flows from operating activities:
Net income	$	1,098		$	1,181		$	1,137
Less: income (loss) from discontinued operations		(2	)		97			30
Income from continuing operations		1,100			1,084			1,107
Adjustments to reconcile to net cash provided by operating activities:
Cumulative effect of accounting change – net of tax		—			(1	)		1
Depreciation, decommissioning and amortization		1,264			1,181			1,061
Loss on impairment of nuclear decommissioning trusts		58			54			—
Other amortization		111			99			107
Stock-based compensation		37			47			48
Minority interest		156			139			167
Deferred income taxes and investment tax credits		(39	)		(136	)		160
Equity in income from partnerships and unconsolidated subsidiaries		(75	)		(76	)		(136	)
Income from leveraged leases		(49	)		(67	)		(71	)
Regulatory assets – long-term		148			92			387
Regulatory liabilities – long-term		157			18			(168	)
Loss on early extinguishment of debt		241			146			25
Impairment losses		—			—			67
Levelized rent expense		(160	)		(161	)		(117	)
Derivative assets – long-term		(14	)		(8	)		(42	)
Derivative liabilities – long-term		(67	)		50			97
Other assets		(180	)		(231	)		75
Other liabilities		197			307			1
Margin and collateral deposits – net of collateral received		(24	)		601			(586	)
Receivables and accrued unbilled revenue		(59	)		208			(321	)
Derivative assets – short-term		111			182			(233	)
Derivative liabilities – short-term		(108	)		(103	)		137
Inventory and other current assets		(121	)		(68	)		(47	)
Regulatory assets – short-term		357			(18	)		17
Regulatory liabilities – short-term		19			318			192
Book overdrafts		72			—			—
Accrued interest and taxes		12			(123	)		36
Accounts payable and other current liabilities		18			(121	)		203
Distributions and dividends from unconsolidated entities		33			61			58
Operating cash flows from discontinued operations		(2	)		94			22
Net cash provided by operating activities		3,193			3,568			2,247
Cash flows from financing activities:
Long-term debt issued		2,930			2,350			1,325
Premiums paid on extinguishment of debt and issuance costs		(241	)		(181	)		(25	)
Long-term debt repaid		(3,215	)		(2,110	)		(2,071	)
Bonds repurchased		(37	)		—			—
Issuance of preference stock		—			196			591
Redemption of preferred stock		—			—			(148	)
Rate reduction notes repaid		(246	)		(246	)		(246	)
Book overdrafts		—			(118	)		25
Short-term debt financing – net		500			—			(88	)
Shares purchased for stock-based compensation		(215	)		(173	)		(192	)
Proceeds from stock option exercises		86			66			85
Excess tax benefits related to stock option exercises		45			27			—
Dividends to minority shareholders		(106	)		(162	)		(174	)
Dividends paid		(378	)		(352	)		(326	)
Net cash used by financing activities	$	(877	)	$	(703	)	$	(1,244	)

-MORE-

EDISON INTERNATIONAL REPORTS 2007 FINANCIAL RESULTS

Page 12 of 12

Edison International

Consolidated Statements of Cash Flows

	Year Ended December 31,
In millions	2007			2006			2005
Cash flows from investing activities:
Capital expenditures	$	(2,826	)	$	(2,536	)	$	(1,868	)
Purchase of interest of acquired companies		(33	)		(18	)		(154	)
Proceeds from sale of property and interest in projects		2			89			10
Proceeds from sale of discontinued operations		—			—			124
Proceeds from nuclear decommissioning trust sales		3,697			3,010			2,067
Purchases of nuclear decommissioning trusts investments		(3,830	)		(3,150	)		(2,159	)
Proceeds from partnerships and unconsolidated subsidiaries, net of investment		42			25			132
Maturities and sales of short-term investments		9,953			7,128			2,928
Purchases of short-term investments		(9,476	)		(7,474	)		(2,999	)
Restricted cash		99			13			53
Customer advances for construction and other investments		(298	)		(50	)		62
Investing cash flows from discontinued operations		—			—			5
Net cash used by investing activities		(2,670	)		(2,963	)		(1,799	)
Effect of consolidation of variable interest entities on cash		—			—			3
Effect of exchange rate changes on cash		—			—			(1	)
Net decrease in cash and equivalents		(354	)		(98	)		(794	)
Cash and equivalents, beginning of year		1,795			1,893			2,689
Cash and equivalents, end of year		1,441			1,795			1,895
Cash and equivalents – discontinued operations		—			—			(2	)
Cash and equivalents – continuing operations	$	1,441		$	1,795		$	1,893