Form 11-K
SOUTHERN CALIFORNIA EDISON COMPANY
STOCK SAVINGS PLUS PLAN
Financial Statements and Supplemental Schedule
As of December 31, 2001
Together with Report of Independent Public Accountants
INDEX
-----
REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS
FINANCIAL STATEMENTS:
Statement of Net Assets Available for Plan Benefits as of December 31, 2001
Statement of Changes in Net Assets Available for Plan Benefits for the Year Ended
December 31, 2001
NOTES TO FINANCIAL STATEMENTS
SUPPLEMENTAL SCHEDULE:
Schedule I: Part IV - Line 4i - Schedule of Assets Held as of
December 31, 2001
NOTE: All other schedules 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 Rules and Regulations for Reporting and Disclosure under the
Employee Retirement Income Security Act of 1974.
REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS
----------------------------------------
To the Southern California Edison Company
Benefits Committee:
We have audited the accompanying statement of net assets available for plan benefits of the SOUTHERN CALIFORNIA EDISON COMPANY
STOCK SAVINGS PLUS PLAN (the Plan) as of December 31, 2001, and the related statement of changes in net assets available for plan
benefits for the year then ended. These financial statements and the schedule referred to below are the responsibility of the
Plan's management. Our responsibility is to express an opinion on these financial statements and the schedule based on our audit.
We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Those standards
require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of
material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the
financial statements. An audit also includes assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall financial statement presentation. We believe that our audit provides 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 of the Plan as of December 31, 2001, and the changes in net assets available for plan benefits for the year then
ended, in conformity with accounting principles generally accepted in the United States of America.
Our audit was performed for the purpose of forming an opinion on the basic financial statements taken as a whole. The
supplemental schedule of assets held for investment purposes 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 the audit 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
BDO SEIDMAN, LLP
Los Angeles, California
June 25, 2002
SOUTHERN CALIFORNIA EDISON COMPANY
STOCK SAVINGS PLUS PLAN
Statements of Net Assets Available for Plan Benefits
As of December 31, 2001
(in 000's)
Assets
Investments, at fair value $ 1,710,228
Receivables:
Dividends receivable 212
Interest receivable 556
Profit sharing receivable 2,828
Receivable from brokers 632
-----------------
Total receivables 4,228
-----------------
Total assets 1,714,456
-----------------
Liabilities
Payable to brokers and others 19
-----------------
Total liabilities 19
-----------------
Net assets available for plan benefits $ 1,714,437
=================
The accompanying notes are an integral part of this statement.
SOUTHERN CALIFORNIA EDISON COMPANY
STOCK SAVINGS PLUS PLAN
Statement of Changes in Net Assets Available for Plan Benefits
For the Year Ended December 31, 2001
(in 000's)
Additions
Investment income:
Dividend $ 9,031
Interest 17,653
-----------------
26,684
Less: management fees 524
-----------------
Net investment income 26,160
-----------------
Contributions:
Employer contributions, net of forfeitures 40,957
Participant contributions 92,804
-----------------
Total contributions 133,761
-----------------
Total additions 159,921
-----------------
Deductions
Distributions to participants 110,051
Net depreciation in fair value of investments 161,486
-----------------
Total deductions 271,537
-----------------
Transfer to other plans 2,911
-----------------
Net decrease (114,527)
Net assets available for plan benefits:
Beginning of year 1,828,964
-----------------
End of year $ 1,714,437
=================
The accompanying notes are an integral part of this statement.
SOUTHERN CALIFORNIA EDISON COMPANY
STOCK SAVINGS PLUS PLAN
Notes to Financial Statements
December 31, 2001
Note 1. Nature of Plan
The following description of the Southern California Edison Company (the Plan Sponsor) Stock Savings Plus Plan
(the Plan) provides only general information. Participants should refer to the Plan document, as amended, for a
more complete description of the Plan's provisions.
Eligibility
The Plan is a defined-contribution plan with a 401(k) feature, in which qualifying full-time or
part-time employees of Edison International (the Company) and substantially all 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 19 percent of eligible pay. Participating
employers provide matching contributions from 1 to 6 percent of a participant's eligible pay. Certain
participating subsidiaries also provide a fixed profit sharing contribution of 3 percent of eligible pay
each pay period and a variable profit sharing contribution annually 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 for all participants.
After five years of service, all existing and future employer contributions are fully vested.
Forfeitures
At December 31, 2001, the unused portion of forfeited non-vested accounts totaled $6,140. These
accounts are used to reduce future employer contributions. During 2001, employer contributions were
reduced by $655,925 from forfeited non-vested accounts.
Transfers
Effective September 28, 2001, the Plan transferred $1,622,833 to the Tyco International (US) Retirement
Savings and Investment Plan IV as part of the sale of Edison Select to Tyco International. Effective
November 11, 2001, the Plan transferred $1,287,798 to the Source Refrigeration HVAC, Inc. 401(k) Plan as
part of the sale of Edison Source to Source Refrigeration.
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 Company and the Trustee agree
are disclosed in the Stock Savings Plus Plan Trust Agreement.
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. The Plan provides investment
choices in 50 investment funds. The Plan's prospectus provides a detailed description of each
investment fund choice and the respective investment manager.
Page 1
Note 1. Nature of Plan (continued)
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 fund. This includes 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.
Mutual funds pay fees to the Plan record keeper for administrative services to participants that would
otherwise have to be provided by the fund. The majority of fees received by the Plan record keeper are
used to reduce the record keeping and communication expenses of the Plan.
Participant Accounts
Each participant account is increased for participant contributions, employer contributions, if
applicable, and allocations of Plan earnings. Allocation of earnings and expenses is based on account
balances, as defined. 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 Receivable
Participants may borrow from their account, a minimum of $1,000 and up to the lesser of $50,000 reduced
by the highest loan balance during the prior 12 months or 50 percent of their vested account balance.
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 range from
6.0 percent to 10.5 percent. Principal and interest are paid ratably through payroll deductions. Some
separated participants may repay loan obligations directly, rather than through payroll deductions.
Payment of Benefits
Account balances of $5,000 or less are distributed after a participant terminates employment, dies, or
becomes permanently and totally disabled. Participants terminating employment, and retirees having
account balances greater than $5,000, may elect to receive their distributions at any time before
turning age 701/2. They may choose a lump sum, partial or an installment form of payment. Minimum
distribution requirements must be met after age 70-1/2.
Profit Sharing
Certain non-represented employees of Edison Mission Energy, Edison Enterprises and their participating
subsidiaries are eligible for two types of profit/gain sharing contributions:
(i) Fixed profit/gain sharing is comprised of a 3% profit/gain sharing contribution each pay period to the
Plan on behalf of eligible employees. Fixed profit/gain sharing contributions in 2001 amounted
to $5,245,694.
(ii) Variable profit/gain sharing is comprised of an additional annual profit/gain sharing contribution to
the Plan on behalf of eligible employees if certain business objectives are reached. Variable
profit/gain sharing contribution made in 2002 for the 2001 plan year amounted to $2,828,056.
Such amount is presented as "Profit sharing receivable" on the statement of Net Assets
Available for Plan Benefits as of December 31, 2001.
Page 2
Note 2. Summary of Significant Accounting Policies
Basis of Accounting
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 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 from those estimates.
Risks and Uncertainties
The Plan's investment in Edison International Common Stock amounted to approximately $382,507,000 as of
December 31, 2001. Such investments represented approximately 22% of the Plan's total assets as of
December 31, 2001. For risks and uncertainties regarding Edison International, participants should
refer to the December 31, 2001, Form 10-Ks and the March 31, 2002, Form 10-Qs of Edison International
and the Plan Sponsor filed with the Securities and Exchange Commission as of and for the periods then
ended.
The Plan provides for various investment options in mutual funds that invest in investment securities.
Investment securities are exposed to various risks such as interest rate, market and credit risk. Due
to the level of risk associated with certain investment securities and the level of uncertainty related
to changes in the value of investment securities, it is at least reasonably possible that changes in
risk in the near term 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 invests in securities of foreign companies, which involve special risks and considerations not
typically associated with investing in U.S. companies. These risks include devaluation of currencies,
less reliable information about issuers, different securities transaction clearance and settlement
practices, and possible adverse political and economic developments. Moreover, securities of many
foreign companies and their markets may be less liquid and their prices more volatile than securities of
comparable U.S companies.
Investment Valuation and Income Recognition
The Plan's investments are stated at fair value. Investments in the collective funds are valued at
quoted market prices, which represent the net asset value of shares held by the Plan at year end.
Edison International Common Stock is valued at its quoted market price. 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 3
Note 2. Summary of Significant Accounting Policies (continued)
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 are recorded when paid.
Note 3. Investment Elections
The Trustee invests all contributions in accordance with participant instructions.
Participants may elect changes to their investment mix effective each business day. Participants may elect
changes to their deferral percentages and deferral investment elections coincident with their pay frequency.
Note 4. Investment Options
The transfer of the participants' investment from the Edison International Common Stock Fund to all other funds
is valued at the closing market price on the date of the transfer. The transfer of the participants' investment
from all other funds to the Edison International Common Stock Fund, or to any other fund, is based on the actual
market value balance (including earnings and market adjustments) in each participant's account, as of close of
market on the date of transfer.
All participants can choose investments from among 50 investment fund offerings. These investment funds consist
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 Seven Core Funds - Funds are invested in a broad selection of asset classes; large and small U.S.
stocks, non-U.S. stocks and fixed income instruments; and
o Forty Mutual Funds - Funds are invested in a variety of retail mutual funds from multiple asset classes.
Participants should refer to the Summary Plan Document for a more complete description of the various investment
options.
Page 4
Note 5. Investments
The following presents investments that represent 5 percent or more of the Plan's net assets available for plan
benefits as of December 31, 2001 (in 000's):
Edison International Common Stock Fund, 23,989,866
shares (See Note 7) $382,507
BZW Barclay's Global Investors - Common Stock Fund,
8,826,080 units 265,040
Frank Russell Trust Company - Balanced Fund,
4,883,672 units 115,018
State Street Bank - Money Market Fund,
257,316,140 units (See Note 7.) 256,857
T. Rowe Price - Science & Technology Fund
3,194,922 units 66,065
During 2001, the Plan's investments (including gains and losses on investments bought and sold, as well as held
during the year) depreciated in value as follows (in 000's):
Edison International Common Stock Fund (Note 7) $ 12,808
Mutual Funds 148,678
--------
Total $161,486
Note 6. Reconciliation of Financial Statements to Form 5500
The following is a reconciliation of net assets available for plan benefits per the financial statements to the
Form 5500 as of December 31, 2001 (in 000's):
Net assets available for plan benefits per the financial
statements $ 1,714,437
Less: Amounts allocated to withdrawing participants 507
Net assets available for plan benefits per the -----------
Form 5500 $ 1,713,930
===========
Page 5
Note 6. Reconciliation of Financial Statements to Form 5500 (continued)
The following is a reconciliation of benefits paid to participants per the financial statements to the Form 5500:
Year ended
December 31, 2001
-----------------
(in 000's)
Benefits paid to participants per the financial statements $ 110,051
Add: Amounts allocated to withdrawing participants
at December 31, 2001 507
Less: Amounts allocated to withdrawing participants
at December 31, 2000 449
---------
Benefits paid to participants per the Form 5500 $ 110,109
=========
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.
Note 7. Related Party Transactions
The Money Market Fund was managed by State Street Bank and Trust Company, which also serves as the Plan's
Trustee. As such, transactions in the Money Market Fund qualify as party-in-interest transactions. Fees
earned by the Trustee in its capacity as fund manager for the Plan were $448,055 for 2001 and were reported as a
reduction to investment income on the Statement of Changes in Net Assets Available for Plan Benefits.
The Plan's investment options include the Company's Common Stock as a fund option. State Street Global Advisors,
an affiliate of State Street Bank and Trust Company, is the investment manager of the Edison International Common
Stock Fund. As such, transactions in the Edison International Common Stock Fund qualify as party-in-interest
transactions. Fees earned by State Street Global Advisors in its capacity as the investment manager of the
Edison International Common Stock Fund were $75,845 for 2001 and were reported as a reduction to investment
income on the Statement of Changes in Net Assets Available for Plan Benefits.
Note 8. Plan Termination
Although it has not expressed an 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.
Note 9. Tax Status
The Internal Revenue Service (IRS) 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 qualified under applicable sections of
the Internal Revenue Code (IRC).
Page 6
Note 10. Employee Stock Ownership Plan
The Edison International Common Stock Fund constitutes an employee stock ownership plan that allows for the
current distribution of dividends to all participants. There were no such distributions for the year ended
December 31, 2001, because no dividends were declared or paid.
Note 11. Plan Sponsor's Liquidity Crisis
As the result of a settlement agreement entered into with the California Public Utilities Commission on October
5, 2001, the Plan Sponsor has been able to avoid filing for protection under the U.S. Bankruptcy Code. In March
2002, the Plan Sponsor repaid its undisputed past-due obligations and near-term debt maturities. The Plan
Sponsor's payment of these amounts did not have a negative impact on the Plan's financial condition.
Note 12. Subsequent Events
Effective January 1, 2002, the Plan adopted various mandated and optional provisions of the Economic Growth and
Tax Relief Reconciliation Act (EGTRRA). Among these new provisions are permitting increased deferral limits for
all participants, and further deferrals for participants 50 years of age and older. In accordance with EGTRRA,
elective deferrals of up to 84% of eligible pay are now permitted.
Page 7
SCHEDULE I
SOUTHERN CALIFORNIA EDISON COMPANY
STOCK SAVINGS PLUS PLAN
EIN 95-1240335 - PLAN NO. 002
PART IV - LINE 4i - SCHEDULE OF ASSETS HELD
AS OF DECEMBER 31, 2001
(a) (b) (c) (d)
DESCRIPTION OF INVESTMENT CURRENT
IDENTITY OF ISSUE, BORROWER, INCLUDING MATURITY DATE, RATE VALUE
LESSOR, OR SIMILAR PARTY OF INTEREST, PAR OR MATURITY (in 000's)
VALUE
- -------------------------- --------------------------------------- ------------
* EDISON INTERNATIONAL COMMON STOCK FUND COMMON STOCK -NO PAR VALUE $382,507
BZW BARCLAY'S GLOBAL INVESTORS COMMON STOCK FUND - COLLECTIVE INVESTMENT IN 265,040
THE BZW BARCLAY'S GLOBAL INVESTORS EQUITY INDEX
FUND
FRANK RUSSELL TRUST COMPANY BALANCED FUND - COLLECTIVE INVESTMENT IN FRANK 115,018
RUSSELL BALANCED FUND
* STATE STREET BANK & TRUST CO. MONEY MARKET FUND - COLLECTIVE INVESTMENT IN 256,857
THE STATE STREET BANK SHORT-TERM INCOME FUND
FRANK RUSSELL TRUST COMPANY BOND FUND - COLLECTIVE INVESTMENT IN FRANK 61,899
RUSSELL INTERMEDIATE-TERM BOND FUND
FRANK RUSSELL TRUST COMPANY US LARGE COMPANY - COLLECTIVE INVESTMENT IN 45,093
FRANK RUSSELL US LARGE COMPANY EQUITY I FUND
FRANK RUSSELL TRUST COMPANY US SMALL COMPANY - COLLECTIVE INVESTMENT IN 29,783
FRANK RUSSELL US SMALL COMPANY EQUITY II FUND
Page 8
FRANK RUSSELL TRUST COMPANY CONSERVATIVE GROWTH PORTFOLIO - COLLECTIVE 21,956
INVESTMENT IN FRANK RUSSELL CONSERVATIVE
BALANCED FUND
FRANK RUSSELL TRUST COMPANY AGGRESSIVE GROWTH PORTFOLIO - COLLECTIVE 46,422
INVESTMENT IN FRANK RUSSELL AGGRESSIVE BALANCED
FUND
AMERICAN FUNDS EUROPACIFIC GROWTH FUNDS - COLLECTIVE 20,184
INVESTMENT IN THE AMERICAN FUNDS GROUP
EUROPACIFIC GROWTH FUND
T. ROWE PRICE COLLECTIVE INVESTMENT IN T. ROWE PRICE SCIENCE 66,065
AND TECHNOLOGY FUND
JANUS INVESTMENT FUNDS COLLECTIVE INVESTMENT IN JANUS WORLDWIDE FUND 36,767
JANUS INVESTMENT FUNDS COLLECTIVE INVESTMENT IN JANUS BALANCED FUND 23,144
PUTNAM COLLECTIVE INVESTMENT IN VOYAGER A FUND 17,200
FRANKLIN STRATEGIC COLLECTIVE INVESTMENT IN FRANKLIN SMALL CAP 16,056
GROWTH FUND A
PUTNAM COLLECTIVE INVESTMENT IN ASIA PACIFIC GROWTH 1,247
FUND A
DREYFUS MANAGEMENT COLLECTIVE INVESTMENT IN APPRECIATION FUND 7,466
TURNER FUNDS COLLECTIVE INVESTMENT IN TURNER SMALL CAP 18,980
GROWTH FUND
Page 9
FIDELITY FUNDS COLLECTIVE INVESTMENT IN FIDELITY SELECT HEALTH 14,214
CARE FUND
AMERICAN FUNDS COLLECTIVE INVESTMENT IN WASHINGTON MUTUAL 12,589
INVESTORS FUND
DREYFUS MANAGEMENT COLLECTIVE INVESTMENT IN DREYFUS DISCIPLINED 4,663
STOCK FUND
FOUNDERS FUNDS INC. COLLECTIVE INVESTMENT IN FOUNDERS GROWTH FUND 9,359
T. ROWE PRICE COLLECTIVE INVESTMENT IN MID-CAP GROWTH 13,378
PUTNAM COLLECTIVE INVESTMENT IN INTERNATIONAL GROWTH 6,268
FUND A
FIDELITY INVESTMENTS COLLECTIVE INVESTMENT IN SPARTAN HIGH INCOME 3,829
FUND
MORGAN STANLEY DEAN WITTER COLLECTIVE INVESTMENT IN INST EQUITY GROWTH B 6,131
FUNDS
* HEWITT SERIES COLLECTIVE INVESTMENT IN HEWITT MONEY MARKET 23,848
FUND
PIMCO COLLECTIVE INVESTMENT IN TOTAL RETURN FUND 10,850
ADMIN SHARES
FIDELITY INVESTMENTS COLLECTIVE INVESTMENT IN UTILITIES INCOME FUND 3,011
FIDELITY INVESTMENTS COLLECTIVE INVESTMENT IN SELECT FINANCIAL 7,495
SERVICES FUNDS
BARON ASSET COLLECTIVE INVESTMENT IN BARON ASSET FUND 1,858
Page 10
AMERICAN CENTURY COLLECTIVE INVESTMENT IN INTERNATIONAL GROWTH 2,233
INVESTOR FUND
PIMCO COLLECTIVE INVESTMENT IN LOW DURATION FUND 4,790
MAS SMALL CAP COLLECTIVE INVESTMENT IN MAS SMALL CAP VALUE 2,931
FUND
KEMPER-DREMEN COLLECTIVE INVESTMENT IN KEMPER -DREMEN HIGH 14,823
RETURN EQUITY A FUND
PUTNAM COLLECTIVE INVESTMENT IN EUROPE GROWTH A FUND 988
PUTNAM COLLECTIVE INVESTMENT IN CAPITAL APPRECIATION A 1,540
FUND
BERGER COLLECTIVE INVESTMENT IN SMALL CAP VALUE FUND 18,392
T. ROWE PRICE COLLECTIVE INVESTMENT IN VALUE FUND 7,267
FIDELITY INVESTMENTS COLLECTIVE INVESTMENT IN DIVERSIFIED 1,566
INTERNATIONAL FUND
TEMPLETON COLLECTIVE INVESTMENT IN DEVELOPING MARKETS 1,087
FUND A
INVESCO COLLECTIVE INVESTMENT IN TOTAL RETURN FUND 487
AMERICAN BALANCED COLLECTIVE INVESTMENT IN AMERICAN BALANCE FUND 16,274
PIMCO COLLECTIVE INVESTMENT IN CAPITAL APPRECIATION 3,299
ADMIN FUND
PIMCO COLLECTIVE INVESTMENT IN LONG TERM US 6,457
GOVERNMENT BONDS
T. ROWE PRICE COLLECTIVE INVESTMENT IN SMALL CAP STOCK FUND 4,124
Page 11
HOTCHKISS & WILY COLLECTIVE INVESTMENT IN INTERNATIONAL FUND 758
MAS VALUE ADVISOR COLLECTIVE INVESTMENT IN MEDIUM COMPANY STOCK 2,550
FUND
FIDELITY INVESTMENTS COLLECTIVE INVESTMENT IN REAL ESTATE SPECIALTY 5,119
FUND
* STATE STREET GLOBAL ADVISOR COLLECTIVE INVESTMENT IN SMALL CAP FUND 305
BRINSON GLOBAL COLLECTIVE INVESTMENT IN BALANCED PRE-MIXED FUND 316
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 6.0 TO
10.5%
65,745
----------
TOTAL $1,710,228
==========
* Party-in-interest
Page 12
SIGNATURES
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.
SOUTHERN CALIFORNIA EDISON COMPANY
STOCK SAVINGS PLUS PLAN
By: Frederick J. Grigsby, Jr.
--------------------------------------------------
Frederick J. Grigsby, Jr.
June 28, 2002
THIS REPORT IS A COPY OF THE REPORT PREVIOUSLY ISSUED BY ARTHUR ANDERSEN LLP AND HAS NOT BEEN REISSUED.
SOUTHERN CALIFORNIA EDISON COMPANY
STOCK SAVINGS PLUS PLAN
Statements of Net Assets Available for Plan Benefits
As of December 31, 2000 and 1999
(in 000's)
2000 1999
------------------ -----------------
Assets
Investments, at fair value $ 1,830,999 $ 2,039,254
Receivables:
Profit sharing receivable 1,564 -
Interest receivable 1,328 969
Receivable from brokers - 2,963
------------------ -----------------
Total receivables 2,892 3,932
------------------ -----------------
Total assets 1,833,891 2,043,186
------------------ -----------------
Liabilities
Payable to brokers and others 4,927 2,414
------------------ -----------------
Total liabilities 4,927 2,414
------------------ -----------------
Net assets available for plan benefits $ 1,828,964 $ 2,040,772
================== =================
The accompanying notes are an integral part of these statements.
SOUTHERN CALIFORNIA EDISON COMPANY
STOCK SAVINGS PLUS PLAN
Statement of Changes in Net Assets Available for Plan Benefits
For the Year Ended December 31, 2000
(in 000's)
Additions
Investment income:
Dividend $ 88,862
Interest 18,971
-----------------
107,833
Less: management fees 73
-----------------
Net investment income 107,760
Contributions:
Employer contributions, net of forfeitures 42,937
Participant contributions 99,972
-----------------
Total contributions 142,909
-----------------
Transfers from other plan 92,768
-----------------
Total additions 343,437
-----------------
Deductions
Distributions to participants 137,244
Net depreciation in fair value of investments 418,001
-----------------
Total deductions 555,245
-----------------
Net decrease (211,808)
-----------------
Net assets available for plan benefits:
Beginning of year 2,040,772
-----------------
End of year $ 1,828,964
=================
The accompanying notes are an integral part of this statement.