Form 11-K for 2002
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, 2002
-------------------------------------------------------------------------------------
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
SOUTHERN CALIFORNIA EDISON COMPANY
STOCK SAVINGS PLUS 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)
Southern California
Edison Company
Stock Savings Plus Plan
Financial Statements
and Supplemental Schedule
As of December 31, 2002 and 2001 and
for the Year Ended December 31, 2002
Southern California Edison Company
Stock Saving Plus Plan
Contents
Report of Independent Public Accountants 3
Consent of Independent Public Accountants 4
Financial Statements
Statements of Net Assets Available for Plan Benefits as
of December 31, 2002 and 2001 (in 000's) 5
Statements of Changes in Net Assets Available for Plan Benefits
for the Year Ended December 31, 2002 (in 000's) 6
Notes to Financial Statements 7-17
Supplemental Schedule
Schedule 1: Part IV - Line 4i - Schedule of Assets Held
as of December 31, 2002 18-21
Note: Schedules other than that listed above have been omitted because they are not applicable or are 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.
2
Report of Independent Public Accountants
To the Southern California Edison Company
Benefits Committee
We have audited the accompanying statements of net assets available for plan benefits of the Southern California Edison Company
Stock Savings Plus Plan (the "Plan") as of December 31, 2002 and 2001, and the related statement of changes in net assets available
for plan benefits for the year ended December 31, 2002. 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 audits.
We conducted our audits 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 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 of the Plan as of December 31, 2002 and 2001, and the changes in net assets available for plan benefits for the year
ended December 31, 2002, 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 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 19, 2003
3
Consent Of Independent Public Accountants
As independent public accountants, we hereby consent to the incorporation by reference into Edison International's previously filed
registration statements listed below of our report dated June 19, 2003 included in the Southern California Edison Company Stock
Savings Plus Plan's Form 11-K for the year ended December 31, 2002, and to all references to our Firm included in this Form 11-K or
in the registration statements listed below:
Registration Form File No. Effective Date
----------------- -------- --------------
Form S-8 333-101038 November 6, 2002
Form S-8 333-74240 November 30, 2001
BDO SEIDMAN, LLP
BDO SEIDMAN, LLP
Los Angeles, California
June 19, 2003
4
Southern California Edison Company
Stock Saving Plus Plan
Statements of Net Assets Available for Benefits
December 31, 2002 2001
--------------------------------------------------------------------------------------------------------------------
(in 000's)
Assets
Investments, at fair value $ 1,524,096 $ 1,710,228
Receivables
Dividends receivable 202 212
Interest receivable 327 556
Profit sharing receivable 2,193 2,828
Receivable from brokers 796 632
-----------------------------------------
Total receivables 3,518 4,228
-----------------------------------------
Total assets 1,527,614 1,714,456
-----------------------------------------
Liabilities
Payable to brokers and others 19 19
-----------------------------------------
Total liabilities 19 19
-----------------------------------------
Net assets available for benefits $ 1,527,595 $ 1,714,437
=========================================
See accompanying notes to financial statements.
5
Southern California Edison Company
Stock Saving Plus Plan
Statement of Changes in Net Assets Available for Plan Benefits
Year ended December 31, 2002
--------------------------------------------------------------------------------------------------------------------
(in 000's)
Additions
Investment income
Dividend $ 6,902
Interest 9,955
-------------------
16,857
Less: Management fees 525
-------------------
Net investment income 16,332
-------------------
Contributions
Employer contributions, net of forfeitures 41,281
Participant contributions 86,506
-------------------
Total contributions 127,787
-------------------
Total additions 144,119
Deductions
Distributions to participants 68,680
Net depreciation in fair value of investments 262,281
-------------------
Total deductions 330,961
-------------------
Net decrease (186,842)
-------------------
Net assets available for plan benefits
Beginning of year 1,714,437
-------------------
End of year $ 1,527,595
===================
See accompanying notes to financial statement.
6
Southern California Edison Company
Stock Saving Plus Plan
Notes to Financial Statements
1. Plan Description 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 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 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 84 percent of
eligible pay. Participating employers provide matching contributions from 2.8
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 or
reaching age 65, all existing and future employer contributions are fully
vested.
7
Southern California Edison Company
Stock Saving Plus Plan
Notes to Financial Statements
1. Plan Description Forfeitures
(Continued)
At December 31, 2002, and 2001, the unused portion of forfeited non-vested
accounts totaled $1,313 and $6,140, respectively. These accounts are used to
reduce future employer contributions. During 2002, employer contributions
were reduced by $283,403 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 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 52 investment funds.
The Plan's prospectus provides a detailed description of each investment fund
choice and 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 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.
8
Southern California Edison Company
Stock Saving Plus Plan
Notes to Financial Statements
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 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 the participant's contribution, the
employer's contribution, if applicable, and allocations of investment
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 of outstanding loans range from
5.25 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 70-1/2. They may choose a lump sum, partial or an
installment form of payment. Minimum distribution requirements must be met
after age 70-1/2.
9
Southern California Edison Company
Stock Saving Plus Plan
Notes to Financial Statements
1. Plan Description Profit Sharing
(Continued)
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 2002 amounted
to $2,221,190.
(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 2003 for the 2002 plan year
amounted to $2,193,136. Such amount is presented as "Profit sharing
receivable" on the statement of Net Assets Available for Plan
Benefits as of December 31, 2002.
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 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.
10
Southern California Edison Company
Stock Saving Plus Plan
Notes to Financial Statements
2. Summary of Significant Risks and Uncertainties
Accounting
Policies The Plan's investment in Edison International Common Stock amounted to
(Continued) approximately $405,530,000 and $382,507,000 as of December 31, 2002 and 2001,
respectively. Such investments represented approximately 27% and 22% of the
Plan's total assets as of December 31, 2002 and 2001, respectively. For risks
and uncertainties regarding Edison International and the Plan Sponsor,
participants should refer to the December 31, 2002 10-Ks and the March 31,
2003, Form 10-Qs of Edison International and the Plan Sponsor filed with the
Securities and Exchange Commission.
The Plan provides for various investment options 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 various investment options that invest 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.
11
Southern California Edison Company
Stock Saving Plus Plan
Notes to Financial Statements
2. Summary of Significant Investment Valuation and Income Recognition
Accounting
Policies The Plan's investments are stated at fair value or estimated fair value.
(Continued) Investments in the mutual funds are valued at quoted market prices, which
represent the units held by the Plan at year end. Investments in the common
collective funds invests in Premixed Portfolios and Core 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. 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.
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.
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.
12
Southern California Edison Company
Stock Saving Plus Plan
Notes to Financial Statements
4. Investment The transfer of the participants' investment from the Edison International
Options 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 52 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-two Mutual Funds - Funds are invested in a variety of retail
mutual funds from multiple asset classes.
Participants should refer to the Summary Plan Description for a more complete
discussion of the various investment options.
13
Southern California Edison Company
Stock Saving Plus Plan
Notes to Financial Statements
5. Investments The following presents investments that represent 5 percent or more of the
Plan's net assets:
December 31, 2002 2001
-------------------------------------------------------------------------------
(in 000's)
Edison International Common Stock
Fund, 32,290,175 and 23,989,866
shares, respectively (See Note 7) $ 405,530 $ 382,507
BZW Barclay's Global Investors -
Equity Index Fund, 7,452,725 and
8,826,080 units, respectively 188,290 265,040
Frank Russell Trust Company - Balanced
Fund, 4,541,299 and 4,883,672 units,
respectively 96,382 115,018
State Street Bank - Money Market Fund,
256,733,298 and 257,316,140 units,
respectively (See Note 7) 256,733 256,857
During 2002, 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):
December 31, Amount
-------------------------------------------------------------------------------
(in 000's)
Edison International Common Stock Fund
(Note 7) $ 86,155
Common Collective Funds 90,683
Mutual Funds 85,443
---------------
$ 262,281
===============
14
Southern California Edison Company
Stock Saving Plus Plan
Notes to Financial Statements
6. Reconciliation of The following is a reconciliation of net assets available for plan
Financial benefits per the financial statements to the Form 5500:
Statements to
Form 5500 December 31, 2002 2001
---------------------------------------------------------------------------
(in 000's)
Net assets available for plan
Benefits per the financial
Statements $ 1,527,595 $ 1,714,437
Less: Amounts allocated to
Withdrawing participants 785 507
--------------- --------------
Net assets available for plan
benefits per the Form 5500 $ 1,526,810 $ 1,713,930
=============== ==============
The following is a reconciliation of benefits paid to participants per the financial statements
to the Form 5500:
December 31, 2002
-------------------------------------------------------------------------------
(in 000's)
Benefits paid to participants per the
financial statements $ 68,680
Add: Amounts allocated to
withdrawing participants at
December 31, 2002 785
Less: Amounts allocated to
withdrawing participants at
December 31, 2001 507
-----------------
Benefits paid to participants per the
Form 5500 $ 68,958
=================
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.
15
Southern California Edison Company
Stock Saving Plus Plan
Notes to Financial Statements
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 $446,267 for 2002
and were reported as 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 $78,379 for 2002 and were reported as a
reduction to investment income on the Statement of Changes in Net Assets
Available for Plan Benefits.
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 (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). The Plan has been amended since receiving
the determination letter.
16
Southern California Edison Company
Stock Saving Plus Plan
Notes to Financial Statements
10. Employee Stock Ownership The Edison International Common Stock Fund constitutes an employee stock
Plan ownership plan that allows for the current distribution of dividends to all
participants. There were no such distributions for the year ended December
31, 2002, because no dividends were declared or paid.
11. Plan Sponsor's Liquidity As the result of a settlement agreement entered into with the California
Crisis 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.
12. Subsequent The Plan has been amended once in 2003 to permit participation of an
Events additional Edison International subsidiary company.
Effective May 14, 2003, the Plan's name was changed to the Edison 401(k)
Savings Plan.
17
Southern California Edison Company
Stock Saving Plus Plan
Schedule I: Part IV - Line 4i - Schedule of Assets Held
As of December 31, 2002
EIN: 95-1240335
Plan Number: 002
(d)
(b) (c) Current
Identity of Issuer, Borrower, Description of Investment Including Maturity Date, Value
(a) Lessor, or Similar Party Rate of Interest, Par or Maturity Value (in 000's)
---------------------------------------------------------------------------------------------------------------------
* Edison International Stock Fund Common Stock - No Par Value $ 405,530
BZW Barclay's Global Investors Common Stock Fund - Collective Investment in the
BZW Barclay's Global Investors Equity Index Fund 188,290
Frank Russell Trust Company Balanced Fund - Collective Investment in Frank
Russell Balanced Fund 96,382
* State Street Bank & Trust Co. Money Market Fund - Collective Investment in the
State Street Bank Short-Term Income Fund 256,733
Frank Russell Trust Company Bond Fund - Collective Investment in Frank Russell
Intermediate-Term Bond Fund 71,829
Frank Russell Trust Company US Large Company - Collective Investment in Frank
Russell US Large Company Equity I Fund 32,665
Frank Russell Trust Company US Small Company - Collective Investment in Frank
Russell US Small Company Equity II Fund 26,108
Frank Russell Trust Company Conservative Growth Portfolio - Collective
Investment in Frank Russell Conservative
Balanced Fund 23,358
Frank Russell Trust Company Aggressive Growth Portfolio - Collective
Investment in Frank Russell Aggressive Balanced
Fund 39,260
American Funds Europacific Growth Funds - Collective Investment
in The American Funds Group Europacific Growth
Fund 18,159
T. Rowe Price Collective Investment in T. Rowe Price Science and
Technology Fund 26,746
Janus Investment Funds Collective Investment in Janus Worldwide Fund 21,109
18
Southern California Edison Company
Stock Saving Plus Plan
Schedule I: Part IV - Line 4i - Schedule of Assets Held
As of December 31, 2002
Janus Investment Funds Collective Investment in Janus Balanced Fund 18,111
Putnam Collective Investment in Voyager A Fund 9,920
Franklin Strategic Collective Investment in Franklin Small Cap Growth
Fund A 8,529
Artisan Collective Investment in Small Cap Growth Fund 1,781
Dreyfus Management Collective Investment in Appreciation Fund 6,236
Turner Funds Collective Investment in Turner Small Cap Growth
Fund 7,894
Fidelity Funds Collective Investment in Fidelity Select Health
Care Fund 9,292
American Funds Collective Investment in Washington Mutual
Investors Fund 11,720
Dreyfus Management Collective Investment in Dreyfus Disciplined Stock
Fund 3,051
William Blair. Collective Investment in Small Cap Growth Fund 866
T. Rowe Price Collective Investment in Mid-Cap Growth 10,307
Putnam Collective Investment in International Growth Fund
A 5,973
Fidelity Investments Collective Investment in Spartan High Income Fund 3,668
Morgan Stanley Dean Witter Collective Investment in Inst Equity Growth B Funds 3,960
* Hewitt Series Collective Investment in Hewitt Money Market Fund 16,056
PIMCO Collective Investment in Total Return Fund Admin
Shares 18,667
Fidelity Investments Collective Investment in Utilities Income Fund 1,919
19
Southern California Edison Company
Stock Saving Plus Plan
Schedule I: Part IV - Line 4i - Schedule of Assets Held
As of December 31, 2002
Fidelity Investments Collective Investment in Select Financial Services
Funds 5,211
Baron Asset Collective Investment in Baron Asset Fund 1,262
American Century Collective Investment in International Growth
Investor Fund 1,182
PIMCO Collective Investment in Low Duration Fund 6,776
MAS Small Cap Collective Investment in MAS Small Cap Value Fund 1,949
Scudder-Dreman Collective Investment in Scudder -Dreman High
Return Equity A Fund 12,790
Putnam Collective Investment in Europe Growth A Fund 688
Putnam Collective Investment in Capital Appreciation A
Fund 914
Berger Collective Investment in Small Cap Value Fund 14,504
T. Rowe Price Collective Investment in Value Fund 5,851
Fidelity Investments Collective Investment in Diversified International
Fund 2,752
Templeton Collective Investment in Developing Markets Fund A 1,754
PIMCO Collective Investment in RCM Global Technology
Fund A 1,650
American Balanced Collective Investment in American Balance Fund 15,051
PIMCO Collective Investment in Capital Appreciation
Admin Fund 2,433
PIMCO Collective Investment in Long Term US Government
Bonds 17,050
T. Rowe Price Collective Investment in Small Cap Stock Fund 4,702
20
Southern California Edison Company
Stock Saving Plus Plan
Schedule I: Part IV - Line 4i - Schedule of Assets Held
As of December 31, 2002
Morgan Stanley Collective Investment in Institutional
International Equity Fund 2,300
MAS Value Advisor Collective Investment in Medium Company Stock Fund 1,720
Fidelity Investments Collective Investment in Real Estate Specialty Fund 9,396
Harbor Collective Investment in Capital Appreciation Fund 4,390
UBS Global Collective Investment in Balanced Pre-Mixed Fund 640
MFS Series Collective Investment in Total Return Fund A 615
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 5.25 to
10.5% 64,397
-----------
Total $ 1,524,096
===========
* Party-In-Interest
21
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 23, 2003