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Derivative Instruments (Tables)
 6 Months Ended
Jun. 30, 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:
 
 
June 30, 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
 
$
60

 
$
1

 
$
61

 
$
192

 
$
868

 
$
1,060

 
$
999

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

 
(2
)
 
(2
)
 
—

 
(2
)
 
—

Cash collateral posted1
 
—

 
—

 
—

 
—

 
—

 
—

 
—

Net amounts presented in the consolidated balance sheets
 
$
58

 
$
1

 
$
59

 
$
190

 
$
868

 
$
1,058

 
$
999


 
 
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 June 30, 2017 and December 31, 2016, SCE had received $1 million and $2 million, respectively, 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:
 
 
June 30, 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
 
$
60

 
$
1

 
$
61

 
$
192

 
$
868

 
$
1,060

 
$
999

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

 
(2
)
 
(2
)
 
—

 
(2
)
 
—

Cash collateral posted1
 
—

 
—

 
—

 
—

 
—

 
—

 
—

Net amounts presented in the consolidated balance sheets
 
$
58

 
$
1

 
$
59

 
$
190

 
$
868

 
$
1,058

 
$
999


 
 
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 June 30, 2017 and December 31, 2016, SCE had received $1 million and $2 million, respectively, 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 June 30,
 
Six months ended June 30,
(in millions)
 
2017
 
2016
 
2017
 
2016
Realized losses
 
$
(3
)
 
$
(25
)
 
$
(5
)
 
$
(52
)
Unrealized gains (losses)
 
6

 
72

 
(80
)
 
8
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, 2017
 
December 31, 2016
Electricity options, swaps and forwards
 
GWh
 
1,731

 
1,816
Natural gas options, swaps and forwards
 
Bcf
 
144

 
36
Congestion revenue rights
 
GWh
 
63,103

 
93,319
Tolling arrangements
 
GWh
 
41,924

 
61,093