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Derivative Instruments (Tables) (Southern California Edison)
 9 Months Ended
Sep. 30, 2014
Southern California Edison
  
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:
 
 
September 30, 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
 
$
103

 
$
245

 
$
348

 
$
159

 
$
948

 
$
1,107

 
$
759

Cash collateral posted1
 
—

 
—

 
—

 
(5
)
 
(1
)
 
(6
)
 
(6
)
Net amounts presented in the consolidated balance sheets
 
$
103

 
$
245

 
$
348

 
$
154

 
$
947

 
$
1,101

 
$
753


 
 
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 September 30, 2014 and December 31, 2013, SCE had posted $6 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.
Summarization of Economic Hedging Activities
The following table summarizes the components of SCE's economic hedging activity:
 
 
Three months ended
September 30,
 
Nine months ended
September 30,
(in millions)
 
2014
 
2013
 
2014
 
2013
Realized losses
 
$
(18
)
 
$
(15
)
 
$
(59
)
 
$
(38
)
Unrealized gains (losses)
 
138

 
(41
)
 
80

 
(159
)
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
 
September 30,
2014
 
December 31, 2013
Electricity options, swaps and forwards
 
GWh
 
2,519

 
6,274
Natural gas options, swaps and forwards
 
Bcf
 
7

 
12
Congestion revenue rights
 
GWh
 
120,075

 
149,234
Tolling arrangements
 
GWh
 
82,333

 
87,991