Derivative Instruments (Tables) - Southern California Edison

3 Months Ended

Mar. 31, 2019

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, 2019
	Derivative Assets								Derivative Liabilities								Net Assets
(in millions)	Short-Term			Long-Term1		Subtotal			Short-Term2			Long-Term		Subtotal
Commodity derivative contracts
Gross amounts recognized	$	102		$	10	$	112		$	2		$	—	$	2		$	110
Gross amounts offset in the consolidated balance sheets	(1		)	—		(1		)	(1		)	—		(1		)	—
Cash collateral posted3	—			—		—			—			—		—			—
Net amounts presented in the consolidated balance sheets	$	101		$	10	$	111		$	1		$	—	$	1		$	110

	December 31, 2018
	Derivative Assets						Derivative Liabilities								Net Assets
(in millions)	Short-Term		Long-Term1		Subtotal		Short-Term2			Long-Term		Subtotal
Commodity derivative contracts
Gross amounts recognized	$	171	$	2	$	173	$	13		$	—	$	13		$	160
Gross amounts offset in the consolidated balance sheets	—		—		—		—			—		—			—
Cash collateral posted	—		—		—		(7		)	—		(7		)	7
Net amounts presented in the consolidated balance sheets	$	171	$	2	$	173	$	6		$	—	$	6		$	167

¹ Included in "Other long-term assets" on Edison International's and SCE's consolidated balance sheets.

² Included in "Other current liabilities" on Edison International's and SCE's consolidated balance sheets.

³ At March 31, 2019, SCE posted $11 million of cash collateral that is not offset against derivative liabilities and is reflected in "Other current assets" on the consolidated balance sheets.

Fair Value of Derivative Liabilities Instruments

The following table summarizes the gross and net fair values of SCE's commodity derivative instruments:

	March 31, 2019
	Derivative Assets								Derivative Liabilities								Net Assets
(in millions)	Short-Term			Long-Term1		Subtotal			Short-Term2			Long-Term		Subtotal
Commodity derivative contracts
Gross amounts recognized	$	102		$	10	$	112		$	2		$	—	$	2		$	110
Gross amounts offset in the consolidated balance sheets	(1		)	—		(1		)	(1		)	—		(1		)	—
Cash collateral posted3	—			—		—			—			—		—			—
Net amounts presented in the consolidated balance sheets	$	101		$	10	$	111		$	1		$	—	$	1		$	110

	December 31, 2018
	Derivative Assets						Derivative Liabilities								Net Assets
(in millions)	Short-Term		Long-Term1		Subtotal		Short-Term2			Long-Term		Subtotal
Commodity derivative contracts
Gross amounts recognized	$	171	$	2	$	173	$	13		$	—	$	13		$	160
Gross amounts offset in the consolidated balance sheets	—		—		—		—			—		—			—
Cash collateral posted	—		—		—		(7		)	—		(7		)	7
Net amounts presented in the consolidated balance sheets	$	171	$	2	$	173	$	6		$	—	$	6		$	167

¹ Included in "Other long-term assets" on Edison International's and SCE's consolidated balance sheets.

² Included in "Other current liabilities" on Edison International's and SCE's consolidated balance sheets.

³ At March 31, 2019, SCE posted $11 million 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 March 31,
(in millions)	2019			2018
Realized gains (losses)	$	32		$	(12	)
Unrealized losses	(50		)	(14		)

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, 2019	December 31, 2018
Electricity options, swaps and forwards	GWh	2,515	2,786
Natural gas options, swaps and forwards	Bcf	4	20
Congestion revenue rights	GWh	39,401	54,453