Regulatory Assets and Liabilities (Tables) - Southern California Edison

6 Months Ended

Jun. 30, 2015

Regulatory Assets [Line Items]

Regulatory Assets Included on the Consolidated Balance Sheets

SCE's regulatory assets included on the consolidated balance sheets are:

(in millions)	June 30, 2015		December 31, 2014
Current:
Regulatory balancing accounts	$	911	$	1,088
Energy derivatives	116		159
Other	39		7
Total current	1,066		1,254
Long-term:
Deferred income taxes, net	3,777		3,405
Pensions and other postretirement benefits	1,210		1,218
Energy derivatives	975		850
Unamortized investments, net	217		255
San Onofre	1,203		1,288
Unamortized loss on reacquired debt	210		201
Regulatory balancing accounts	54		44
Other	363		351
Total long-term	8,009		7,612
Total regulatory assets	$	9,075	$	8,866

Regulatory Liabilities Included on the Consolidated Balance Sheets

SCE's regulatory liabilities included on the consolidated balance sheets are:

(in millions)	June 30, 2015		December 31, 2014
Current:
Regulatory balancing accounts	$	354	$	380
Other1	100		21
Total current	454		401
Long-term:
Costs of removal	2,767		2,826
Recoveries in excess of ARO liabilities2	1,908		1,956
Regulatory balancing accounts	1,080		1,083
Other	58		24
Total long-term	5,813		5,889
Total regulatory liabilities	$	6,267	$	6,290

¹  During the six months ended June 30, 2015, SCE recognized revenue from CPUC activities largely based on 2014 authorized base revenue requirements included in customer rates. SCE deferred $49 million and $85 million of the 2014 authorized base revenue requirement allocated to the second quarter and first six months of 2015, respectively, related to incremental repair deductions pending the outcome of the 2015 GRC.

² Represents the cumulative differences between ARO expenses and amounts collected in rates primarily for the decommissioning of the SCE's nuclear generation facilities. Decommissioning costs recovered through rates are primarily placed in nuclear decommissioning trusts. This regulatory liability also represents the deferral of realized and unrealized gains and losses on the nuclear decommissioning trust investments. See Note 9.

Schedule of Regulatory Balancing Accounts

The following table summarizes the significant components of regulatory balancing accounts included in the above tables of regulatory assets and liabilities:

(in millions)	June 30, 2015			December 31, 2014
Asset (liability)
Energy resource recovery account	$	543		$	1,028
New system generation balancing account	(139		)	35
Public purpose programs and energy efficiency programs	(752		)	(874		)
Base rate recovery balancing account	74			(5		)
Greenhouse gas auction revenue	(145		)	(182		)
FERC balancing accounts	44			(32		)
Generator settlements	(3		)	(197		)
Other	(91		)	(104		)
Liability	$	(469	)	$	(331	)