XML 56 R35.htm IDEA: XBRL DOCUMENT v3.8.0.1
Derivative Instruments (Tables) - SCE
 12 Months Ended
Dec. 31, 2017
Derivative Instruments and Hedging Activities Disclosures [Line Items]  
Schedule of Derivative Liabilities in Statement of Financial Position, Fair Value
The following table summarizes the gross and net fair values of SCE's commodity derivative instruments:
 
 
December 31, 2017
 
 
 
 
Derivative Assets
 
Derivative Liabilities
 
Net Asset
(in millions)
 
Short-Term
 
Long-Term
 
Subtotal
 
Short-Term
 
Long-Term
 
Subtotal2
 
Commodity derivative contracts
 
 
 
 
 
 
 
 
 
 
 
 
Gross amounts recognized
 
$
106

 
$
5

 
$
111

 
$
3

 
$
—

 
$
3

 
$
108

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

 
(1
)
 
(1
)
 
—

 
(1
)
 
—

Cash collateral posted1
 
—

 
—

 
—

 
(1
)
 
—

 
(1
)
 
1

Net amounts presented in the consolidated balance sheets
 
$
105

 
$
5

 
$
110

 
$
1

 
$
—

 
$
1

 
$
109

 
 
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 
At December 31, 2016, SCE had received $2 million of cash collateral that is not offset against derivative assets and is reflected in "Other current liabilities" on the consolidated balance sheets.
2 During the third quarter of 2017, SCE designated certain derivative contracts as normal purchase and normal sale contracts, which resulted in a reclassification of $914 million from derivative liabilities to other liabilities. These liabilities will be amortized over the remaining contract terms.
Schedule of Derivative Assets in Statement of Financial Position, Fair Value
The following table summarizes the gross and net fair values of SCE's commodity derivative instruments:
 
 
December 31, 2017
 
 
 
 
Derivative Assets
 
Derivative Liabilities
 
Net Asset
(in millions)
 
Short-Term
 
Long-Term
 
Subtotal
 
Short-Term
 
Long-Term
 
Subtotal2
 
Commodity derivative contracts
 
 
 
 
 
 
 
 
 
 
 
 
Gross amounts recognized
 
$
106

 
$
5

 
$
111

 
$
3

 
$
—

 
$
3

 
$
108

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

 
(1
)
 
(1
)
 
—

 
(1
)
 
—

Cash collateral posted1
 
—

 
—

 
—

 
(1
)
 
—

 
(1
)
 
1

Net amounts presented in the consolidated balance sheets
 
$
105

 
$
5

 
$
110

 
$
1

 
$
—

 
$
1

 
$
109

 
 
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 
At December 31, 2016, SCE had received $2 million of cash collateral that is not offset against derivative assets and is reflected in "Other current liabilities" on the consolidated balance sheets.
2 During the third quarter of 2017, SCE designated certain derivative contracts as normal purchase and normal sale contracts, which resulted in a reclassification of $914 million from derivative liabilities to other liabilities. These liabilities will be amortized over the remaining contract terms.
Components of Economic Hedging Activity
The following table summarizes the components of SCE's economic hedging activity:
 
 
Years ended December 31,
(in millions)
 
2017
 
2016
 
2015
Realized losses
 
$
(14
)
 
$
(59
)
 
$
(148
)
Unrealized gains (losses)
 
106

 
84

 
(182
)
Notional Volumes of Derivative Instruments
The following table summarizes the notional volumes of derivatives used for SCE hedging activities:
 
 
Economic Hedges
 
Unit of
December 31,
Commodity
Measure
2017
 
2016
Electricity options, swaps and forwards
GWh
475

 
1,816
Natural gas options, swaps and forwards
Bcf
143

 
36
Congestion revenue rights
GWh
78,765

 
93,319
Tolling arrangements
GWh
—

 
61,093