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Derivative Instruments (Tables)
 3 Months Ended
Mar. 31, 2017
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:
 
 
March 31, 2017
 
 
 
 
Derivative Assets
 
Derivative Liabilities
 
Net
Liability
(in millions)
 
Short-Term
 
Long-Term
 
Subtotal
 
Short-Term
 
Long-Term
 
Subtotal
 
Commodity derivative contracts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gross amounts recognized
 
$
70

 
$
1

 
$
71

 
$
238

 
$
989

 
$
1,227

 
$
1,156

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

 
(1
)
 
(1
)
 
—

 
(1
)
 
—

Cash collateral posted1
 
—

 
—

 
—

 
—

 
—

 
—

 
—

Net amounts presented in the consolidated balance sheets
 
$
69

 
$
1

 
$
70

 
$
237

 
$
989

 
$
1,226

 
$
1,156


 
 
December 31, 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
 
$
74

 
$
1

 
$
75

 
$
217

 
$
941

 
$
1,158

 
$
1,083

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

 
(1
)
 
(1
)
 
—

 
(1
)
 
—

Cash collateral posted1
 
—

 
—

 
—

 
—

 
—

 
—

 
—

Net amounts presented in the consolidated balance sheets
 
$
73

 
$
1

 
$
74

 
$
216

 
$
941

 
$
1,157

 
$
1,083


1 
In addition, at March 31, 2017, there is no cash collateral posted that is not offset against derivative liabilities. At December 31, 2016, SCE received $2 million of collateral that is not offset against derivative assets and is reflected in "Other current liabilities" 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:
 
 
March 31, 2017
 
 
 
 
Derivative Assets
 
Derivative Liabilities
 
Net
Liability
(in millions)
 
Short-Term
 
Long-Term
 
Subtotal
 
Short-Term
 
Long-Term
 
Subtotal
 
Commodity derivative contracts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gross amounts recognized
 
$
70

 
$
1

 
$
71

 
$
238

 
$
989

 
$
1,227

 
$
1,156

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

 
(1
)
 
(1
)
 
—

 
(1
)
 
—

Cash collateral posted1
 
—

 
—

 
—

 
—

 
—

 
—

 
—

Net amounts presented in the consolidated balance sheets
 
$
69

 
$
1

 
$
70

 
$
237

 
$
989

 
$
1,226

 
$
1,156


 
 
December 31, 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
 
$
74

 
$
1

 
$
75

 
$
217

 
$
941

 
$
1,158

 
$
1,083

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

 
(1
)
 
(1
)
 
—

 
(1
)
 
—

Cash collateral posted1
 
—

 
—

 
—

 
—

 
—

 
—

 
—

Net amounts presented in the consolidated balance sheets
 
$
73

 
$
1

 
$
74

 
$
216

 
$
941

 
$
1,157

 
$
1,083


1 
In addition, at March 31, 2017, there is no cash collateral posted that is not offset against derivative liabilities. At December 31, 2016, SCE received $2 million of collateral that is not offset against derivative assets and is reflected in "Other current liabilities" 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 March 31,
(in millions)
 
2017
 
2016
Realized losses
 
$
(2
)
 
$
(27
)
Unrealized losses
 
(85
)
 
(64
)
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
 
March 31, 2017
 
December 31, 2016
Electricity options, swaps and forwards
 
GWh
 
1,812

 
1,816
Natural gas options, swaps and forwards
 
Bcf
 
123

 
36
Congestion revenue rights
 
GWh
 
79,224

 
93,319
Tolling arrangements
 
GWh
 
58,153

 
61,093