Regulatory Assets and Liabilities (Tables) - Southern California Edison

3 Months Ended

Mar. 31, 2016

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)	March 31, 2016		December 31, 2015
Current:
Regulatory balancing accounts	$	329	$	382
Energy derivatives	182		159
Other	27		19
Total current	538		560
Long-term:
Deferred income taxes, net	3,920		3,757
Pensions and other postretirement benefits	842		849
Energy derivatives	1,066		1,027
Unamortized investments, net	169		182
San Onofre	982		1,043
Unamortized loss on reacquired debt	197		201
Regulatory balancing accounts	39		36
Environmental remediation	131		129
Other	282		288
Total long-term	7,628		7,512
Total regulatory assets	$	8,166	$	8,072

Regulatory Liabilities Included on the Consolidated Balance Sheets

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

(in millions)	March 31, 2016		December 31, 2015
Current:
Regulatory balancing accounts	$	1,135	$	1,106
Other	22		22
Total current	1,157		1,128
Long-term:
Costs of removal	2,822		2,781
Recoveries in excess of ARO liabilities1	1,690		1,502
Regulatory balancing accounts	1,352		1,314
Other	56		79
Total long-term	5,920		5,676
Total regulatory liabilities	$	7,077	$	6,804

¹ 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)	March 31, 2016			December 31, 2015
Asset (liability)
Energy resource recovery account	$	(364	)	$	(439	)
New system generation balancing account	(189		)	(171		)
Public purpose programs and energy efficiency programs	(817		)	(683		)
Tax accounting memorandum account and pole loading balancing account	(278		)	(248		)
Base rate recovery balancing account	(234		)	(319		)
Greenhouse gas auction revenue	(156		)	(75		)
FERC balancing accounts	43			74
Generator settlements	—			(4		)
Other	(124		)	(137		)
Liability	$	(2,119	)	$	(2,002	)