Regulatory Assets and Liabilities

Regulatory Assets

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



(in millions)	June 30, 2016		December 31, 2015
Current:
Regulatory balancing accounts	$	309	$	382
Energy derivatives	135		159
Other	34		19
Total current	478		560
Long-term:
Deferred income taxes, net	4,176		3,757
Pensions and other postretirement benefits	836		849
Energy derivatives	1,041		1,027
Unamortized investments, net	156		182
San Onofre	942		1,043
Unamortized loss on reacquired debt	193		201
Regulatory balancing accounts	49		36
Environmental remediation	128		129
Other	271		288
Total long-term	7,792		7,512
Total regulatory assets	$	8,270	$	8,072

Regulatory Liabilities

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



(in millions)	June 30, 2016		December 31, 2015
Current:
Regulatory balancing accounts	$	1,050	$	1,106
Other	22		22
Total current	1,072		1,128
Long-term:
Costs of removal	2,825		2,781
Recoveries in excess of ARO liabilities¹	1,740		1,502
Regulatory balancing accounts	1,392		1,314
Other	60		79
Total long-term	6,017		5,676
Total regulatory liabilities	$	7,089	$	6,804

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.

Net 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, 2016			December 31, 2015
Asset (liability)
Energy resource recovery account	$	(252	)	$	(439	)
New system generation balancing account	(195		)	(171		)
Public purpose programs and energy efficiency programs	(828		)	(683		)
Tax accounting memorandum account and pole loading balancing account	(68		)	(248		)
Base rate recovery balancing account	(535		)	(319		)
Department of Energy litigation memorandum account¹	(122		)	—
Greenhouse gas auction revenue	(4		)	(75		)
FERC balancing accounts	40			74
Other	(120		)	(141		)
Liability	$	(2,084	)	$	(2,002	)


¹	Represents a refund from the Department of Energy's failure to meet its obligation to begin accepting spent nuclear fuel from San Onofre. See "Note 11. Commitments and Contingencies—Contingencies—Spent Nuclear Fuel" for further discussion.