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Derivative Instruments (Tables) - Southern California Edison
 6 Months Ended
Jun. 30, 2016
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:
 
 
June 30, 2016
 
 
 
 
Derivative Assets
 
Derivative Liabilities
 
Net
Liability
(in millions)
 
Short-Term
 
Long-Term
 
Subtotal
 
Short-Term
 
Long-Term
 
Subtotal
 
Commodity derivative contracts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gross amounts recognized
 
$
66

 
$
69

 
$
135

 
$
196

 
$
1,100

 
$
1,296

 
$
1,161

Gross amounts offset in the consolidated balance sheets
 
(1
)
 
—

 
(1
)
 
(1
)
 
—

 
(1
)
 
—

Cash collateral posted1
 
—

 
—

 
—

 
—

 
—

 
—

 
—

Net amounts presented in the consolidated balance sheets
 
$
65

 
$
69

 
$
134

 
$
195

 
$
1,100

 
$
1,295

 
$
1,161


 
 
December 31, 2015
 
 
 
 
Derivative Assets
 
Derivative Liabilities
 
Net
Liability
(in millions)
 
Short-Term
 
Long-Term
 
Subtotal
 
Short-Term
 
Long-Term
 
Subtotal
 
Commodity derivative contracts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gross amounts recognized
 
$
81

 
$
84

 
$
165

 
$
235

 
$
1,100

 
$
1,335

 
$
1,170

Gross amounts offset in the consolidated balance sheets
 
(2
)
 
—

 
(2
)
 
(2
)
 
—

 
(2
)
 
—

Cash collateral posted1
 
—

 
—

 
—

 
(15
)
 
—

 
(15
)
 
(15
)
Net amounts presented in the consolidated balance sheets
 
$
79

 
$
84

 
$
163

 
$
218

 
$
1,100

 
$
1,318

 
$
1,155


1 
In addition, at June 30, 2016, SCE received $4 million of collateral that is not offset against derivative assets and is reflected in "Other current liabilities" on the consolidated balance sheets. At December 31, 2015, SCE had posted $31 million 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 June 30,
 
Six months ended June 30,
(in millions)
 
2016
 
2015
 
2016
 
2015
Realized losses
 
$
(25
)
 
$
(39
)
 
$
(52
)
 
$
(75
)
Unrealized gains (losses)
 
72

 
(16
)
 
8

 
(85
)
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
 
June 30, 2016
 
December 31, 2015
Electricity options, swaps and forwards
 
GWh
 
4,980

 
6,221
Natural gas options, swaps and forwards
 
Bcf
 
4

 
32
Congestion revenue rights
 
GWh
 
80,094

 
109,740
Tolling arrangements
 
GWh
 
65,998

 
70,663