Derivative Instruments (Tables) - SCE

12 Months Ended

Dec. 31, 2020

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, 2020
	Derivative Assets						Derivative Liabilities						Net Asset
(in millions)	Short-Term1		Long-Term2		Subtotal		Short-Term3		Long-Term		Subtotal
Commodity derivative contracts
Gross amounts recognized	$	103	$	23	$	126	$	16	$	6	$	22	$	104
Gross amounts offset in the consolidated balance sheets	(12)		(6)		(18)		(12)		(6)		(18)		—
Cash collateral posted4	—		—		—		(4)		—		(4)		4
Net amounts presented in the consolidated balance sheets	$	91	$	17	$	108	$	—	$	—	$	—	$	108

	December 31, 2019
	Derivative Assets						Derivative Liabilities						Net Asset
(in millions)	Short-Term1		Long-Term2		Subtotal		Short-Term3		Long-Term		Subtotal
Commodity derivative contracts
Gross amounts recognized	$	94	$	8	$	102	$	14	$	2	$	16	$	86
Gross amounts offset in the consolidated balance sheets	(13)		(2)		(15)		(13)		(2)		(15)		—
Cash collateral posted4	—		—		—		—		—		—		—
Net amounts presented in the consolidated balance sheets	$	81	$	6	$	87	$	1	$	—	$	1	$	86

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

2Included in "Other long-term assets" on Edison International's and SCE's consolidated balance sheets.

3Included in "Other current liabilities" on Edison International's and SCE's consolidated balance sheets.

4At December 31, 2020, SCE posted $17 million of cash, of which $4 million was offset against derivative liabilities and $13 million was reflected in "Other current assets" on the consolidated balance sheets. At December 31, 2019, SCE posted $24 million of cash, all of which was not offset against net derivative liabilities and was reflected in "Other current assets" on the consolidated balance sheets.

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, 2020
	Derivative Assets						Derivative Liabilities						Net Asset
(in millions)	Short-Term1		Long-Term2		Subtotal		Short-Term3		Long-Term		Subtotal
Commodity derivative contracts
Gross amounts recognized	$	103	$	23	$	126	$	16	$	6	$	22	$	104
Gross amounts offset in the consolidated balance sheets	(12)		(6)		(18)		(12)		(6)		(18)		—
Cash collateral posted4	—		—		—		(4)		—		(4)		4
Net amounts presented in the consolidated balance sheets	$	91	$	17	$	108	$	—	$	—	$	—	$	108

	December 31, 2019
	Derivative Assets						Derivative Liabilities						Net Asset
(in millions)	Short-Term1		Long-Term2		Subtotal		Short-Term3		Long-Term		Subtotal
Commodity derivative contracts
Gross amounts recognized	$	94	$	8	$	102	$	14	$	2	$	16	$	86
Gross amounts offset in the consolidated balance sheets	(13)		(2)		(15)		(13)		(2)		(15)		—
Cash collateral posted4	—		—		—		—		—		—		—
Net amounts presented in the consolidated balance sheets	$	81	$	6	$	87	$	1	$	—	$	1	$	86

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

2Included in "Other long-term assets" on Edison International's and SCE's consolidated balance sheets.

3Included in "Other current liabilities" on Edison International's and SCE's consolidated balance sheets.

4At December 31, 2020, SCE posted $17 million of cash, of which $4 million was offset against derivative liabilities and $13 million was reflected in "Other current assets" on the consolidated balance sheets. At December 31, 2019, SCE posted $24 million of cash, all of which was not offset against net derivative liabilities and was reflected in "Other current assets" on the consolidated balance sheets.

Components of Economic Hedging Activity

The following table summarizes the components of SCE's economic hedging activity:

	Years ended December 31,
(in millions)	2020		2019		2018
Realized gains (losses)	$	87	$	(7)	$	26
Unrealized gains (losses)	17		(74)		82

Notional Volumes of Derivative Instruments

The following table summarizes the notional volumes of derivatives used for SCE economic hedging activities:

		Economic Hedges
	Unit of	December 31,
Commodity	Measure	2020	2019
Electricity options, swaps and forwards	GWh	1,581	3,155
Natural gas options, swaps and forwards	Bcf	34	43
Congestion revenue rights	GWh	41,151	48,170