XML 83 R36.htm IDEA: XBRL DOCUMENT v2.4.1.9
Derivative Instruments (Tables) (Southern California Edison)
 12 Months Ended
Dec. 31, 2014
Southern California Edison
  
Derivative Instruments and Hedging Activities Disclosures [Line Items]  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The following table summarizes the gross and net fair values of SCE's commodity derivative instruments:
 
 
December 31, 2014
 
 
 
 
Derivative Assets
 
Derivative Liabilities
 
Net
Liability
(in millions)
 
Short-Term
 
Long-Term
 
Subtotal
 
Short-Term
 
Long-Term
 
Subtotal
 
Commodity derivative contracts
 
 
 
 
 
 
 
 
 
 
 
 
Gross amounts recognized
 
$
104

 
$
219

 
$
323

 
$
259

 
$
1,052

 
$
1,311

 
$
988

Gross amounts offset in consolidated balance sheets
 
(2
)
 
—

 
(2
)
 
(2
)
 
—

 
(2
)
 
—

Cash collateral posted1
 
—

 
—

 
—

 
(61
)
 
—

 
(61
)
 
(61
)
Net amounts presented in the consolidated balance sheets
 
$
102

 
$
219

 
$
321

 
$
196

 
$
1,052

 
$
1,248

 
$
927

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

 
$
251

 
$
392

 
$
178

 
$
1,045

 
$
1,223

 
$
831

Gross amounts offset in 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 December 31, 2014 and 2013, SCE had posted $36 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.
Derivative Instruments, Gain (Loss)
The following table summarizes the components of SCE's economic hedging activity:
 
 
Years ended December 31,
(in millions)
 
2014
 
2013
 
2012
Realized losses
 
$
(57
)
 
$
(56
)
 
$
(227
)
Unrealized gains (losses)
 
(147
)
 
93

 
125
Notional Volumes of Derivative Instruments
The following table summarizes the notional volumes of derivatives used for SCE hedging activities:
 
 
Economic Hedges
 
Unit of
December 31,
Commodity
Measure
2014
 
2013
Electricity options, swaps and forwards
GWh
3,618

 
6,274
Natural gas options, swaps and forwards
Bcf
83

 
12
Congestion revenue rights
GWh
122,859

 
149,234
Tolling arrangements
GWh
79,989

 
87,991