Derivative Instruments (Tables)

3 Months Ended

Mar. 31, 2022

Derivative Instruments

Schedule of derivative assets financial position

	March 31, 2022
	Derivative Assets						Derivative Liabilities
(in millions)	Short-Term1		Long-Term2		Subtotal		Short-Term		Long-Term		Subtotal		Net Assets
Commodity derivative contracts
Gross amounts recognized	$	95	$	5	$	100	$	17	$	1	$	18	$	82
Gross amounts offset in the consolidated balance sheets		(17)		(1)		(18)		(17)		(1)		(18)		—
Cash collateral posted3		(19)		—		(19)		—		—		—		(19)
Net amounts presented in the consolidated balance sheets	$	59	$	4	$	63	$	—	$	—	$	—	$	63

	December 31, 2021
	Derivative Assets						Derivative Liabilities
(in millions)	Short-Term1		Long-Term2		Subtotal		Short-Term		Long-Term		Subtotal		Net Assets
Commodity derivative contracts
Gross amounts recognized	$	70	$	6	$	76	$	46	$	2	$	48	$	28
Gross amounts offset in the consolidated balance sheets		(30)		(2)		(32)		(30)		(2)		(32)		—
Cash collateral posted3		—		—		—		(16)		—		(16)		16
Net amounts presented in the consolidated balance sheets	$	40	$	4	$	44	$	—	$	—	$	—	$	44

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

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

3 At March 31, 2022, SCE received $21 million of cash, of which $19 million was offset against derivative assets and $2 million was reflected in "Other current liabilities" on the consolidated balance sheets. At December 31, 2021, SCE posted $65 million of cash, of which $16 million was offset against derivative liabilities and $49 million was reflected in "Other current assets" on the consolidated balance sheets.

Components of Economic Hedging Activity

		Three months ended March 31,
(in millions)		2022		2021
Realized (losses) gains	$	(19)	$	112
Unrealized gains (losses)		53		(6)

Notional Volumes of Derivative Instruments

	Unit of	Economic Hedges
Commodity	Measure	March 31, 2022	December 31, 2021
Electricity options, swaps and forwards	GWh	899	1,869
Natural gas options, swaps and forwards	Bcf	47	58
Congestion revenue rights	GWh	30,813	33,216