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Derivative Instruments (Tables)
 9 Months Ended
Sep. 30, 2016
Derivative Instruments and Hedging Activities Disclosures [Line Items]  
Fair Value of Derivative Liabilities Instruments
The following table summarizes the gross and net fair values of SCE's commodity derivative instruments:
 
 
September 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
 
$
62

 
$
67

 
$
129

 
$
226

 
$
1,069

 
$
1,295

 
$
1,166

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

 
(2
)
 
(2
)
 
—

 
(2
)
 
—

Cash collateral posted1
 
—

 
—

 
—

 
(1
)
 
—

 
(1
)
 
(1
)
Net amounts presented in the consolidated balance sheets
 
$
60

 
$
67

 
$
127

 
$
223

 
$
1,069

 
$
1,292

 
$
1,165


 
 
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 September 30, 2016 and December 31, 2015, SCE had posted $4 million and $31 million, respectively, of cash collateral that is not offset against derivative liabilities and is reflected in "Other current assets" on the consolidated balance sheets.
Southern California Edison  
Derivative Instruments and Hedging Activities Disclosures [Line Items]  
Fair Value of Derivative Asset Instruments
The following table summarizes the gross and net fair values of SCE's commodity derivative instruments:
 
 
September 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
 
$
62

 
$
67

 
$
129

 
$
226

 
$
1,069

 
$
1,295

 
$
1,166

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

 
(2
)
 
(2
)
 
—

 
(2
)
 
—

Cash collateral posted1
 
—

 
—

 
—

 
(1
)
 
—

 
(1
)
 
(1
)
Net amounts presented in the consolidated balance sheets
 
$
60

 
$
67

 
$
127

 
$
223

 
$
1,069

 
$
1,292

 
$
1,165


 
 
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 September 30, 2016 and December 31, 2015, SCE had posted $4 million and $31 million, respectively, of cash 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 September 30,
 
Nine months ended September 30,
(in millions)
 
2016
 
2015
 
2016
 
2015
Realized losses
 
$
(1
)
 
$
(28
)
 
$
(53
)
 
$
(103
)
Unrealized (losses) gains
 
(2
)
 
(67
)
 
6

 
(152
)
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
 
September 30, 2016
 
December 31, 2015
Electricity options, swaps and forwards
 
GWh
 
1,872

 
6,221
Natural gas options, swaps and forwards
 
Bcf
 
13

 
32
Congestion revenue rights
 
GWh
 
85,430

 
109,740
Tolling arrangements
 
GWh
 
63,654

 
70,663