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Derivative Instruments (Tables)
 3 Months Ended
Mar. 31, 2014
Derivative Instruments and Hedging Activities Disclosures [Line Items]  
Fair Value of Derivative Instruments
The following table summarizes the gross and net fair values of SCE's commodity derivative instruments:
 
 
March 31, 2014
 
 
 
 
Derivative Assets
 
Derivative Liabilities
 
 
(in millions)
 
Short-Term
 
Long-Term
 
Subtotal
 
Short-Term
 
Long-Term
 
Subtotal
 
Net
Liability
Commodity derivative contracts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gross amounts recognized
 
$
135

 
$
240

 
$
375

 
$
170

 
$
987

 
$
1,157

 
$
782

Gross amounts offset in the consolidated balance sheets
 
(23
)
 
—

 
(23
)
 
(23
)
 
—

 
(23
)
 
—

Cash collateral posted1
 
—

 
—

 
—

 
(4
)
 
(2
)
 
(6
)
 
(6
)
Net amounts presented in the consolidated balance sheets
 
$
112

 
$
240

 
$
352

 
$
143

 
$
985

 
$
1,128

 
$
776


 
 
December 31, 2013
 
 
 
 
Derivative Assets
 
Derivative Liabilities
 
 
(in millions)
 
Short-Term
 
Long-Term
 
Subtotal
 
Short-Term
 
Long-Term
 
Subtotal
 
Net
Liability
Commodity derivative contracts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gross amounts recognized
 
$
141

 
$
251

 
$
392

 
$
178

 
$
1,045

 
$
1,223

 
$
831

Gross amounts offset in the consolidated balance sheets
 
(19
)
 
—

 
(19
)
 
(19
)
 
—

 
(19
)
 
—

Cash collateral posted1
 
—

 
—

 
—

 
(7
)
 
(3
)
 
(10
)
 
(10
)
Net amounts presented in the consolidated balance sheets
 
$
122

 
$
251

 
$
373

 
$
152

 
$
1,042

 
$
1,194

 
$
821


1 
In addition, at March 31, 2014 and December 31, 2013, SCE had posted $7 million and $19 million, respectively, of collateral that is not offset against derivative liabilities and is reflected in "Other current assets" on the consolidated balance sheets.
Notional Volumes of Derivative Instruments
The following table summarizes the notional volumes of derivatives used for SCE hedging activities:
 
 
 
 
Economic Hedges
Commodity
 
Unit of Measure
 
March 31,
2014
 
December 31, 2013
Electricity options, swaps and forwards
 
GWh
 
5,086

 
6,274
Natural gas options, swaps and forwards
 
Bcf
 
8

 
12
Congestion revenue rights
 
GWh
 
135,714

 
149,234
Tolling arrangements
 
GWh
 
86,248

 
87,991
Southern California Edison
  
Derivative Instruments and Hedging Activities Disclosures [Line Items]  
Summarization of Economic Hedging Activities
The following table summarizes the components of SCE's economic hedging activity:
 
 
Three months ended March 31,
(in millions)
 
2014
 
2013
Realized losses
 
$
(37
)
 
$
(16
)
Unrealized gains (losses)
 
52

 
(54
)