Future decommissioning costs related to SCE's nuclear assets are expected to be funded from independent decommissioning trusts.

The following table sets forth amortized cost and fair value of the trust investments (see Note 4 for a discussion of fair value of the trust investments):

*	Not applicable

1	Short-term investments include $48 million and $37 million of repurchase agreements payable by financial institutions which earn interest, are fully secured by U.S. Treasury securities and mature by July 1, 2022 and January 3, 2022 as of June 30, 2022 and December 31, 2021, respectively.

Trust fund earnings (based on specific identification) increase the trust fund balance and the asset retirement obligation ("ARO") regulatory liability. Unrealized holding gains, net of losses, were $1.5 billion and $2.1 billion at June 30, 2022 and December 31, 2021, respectively.

Trust assets are used to pay income taxes arising from trust investing activity. Deferred tax liabilities related to net unrealized gains were $316 million and $517 million at June 30, 2022 and December 31, 2021, respectively. Accordingly, the fair value of trust assets available to pay future decommissioning costs, net of deferred income taxes, totaled $3.7 billion and $4.4 billion at June 30, 2022 and December 31, 2021, respectively.

The following table summarizes the gains and losses for the trust investments:


	Three months ended June 30,				Six months ended June 30,
(in millions)	2022		2021		2022		2021
Gross realized gains	$	74	$	140	$	89	$	251
Gross realized losses		45		4		61		16
Net unrealized (losses) gains for equity securities		(332)		16		(432)		34

Due to regulatory mechanisms, changes in assets of the trusts from income or loss items have no impact on operating revenue or earnings.

Edison International's Investments

Edison International holds strategic investments in companies focused on developing electric technologies and services. As of June 30, 2022 and December 31, 2021, these investments consist of $6 million and $12 million of marketable securities, respectively, and $3 million of equity investments without readily determinable fair values for both periods (included as "Other investments" on Edison International's consolidated balance sheets). The unrealized loss for equity investments held is $3 million and $5 million for the three months and six months ended June 30, 2022, respectively, recorded as "Other income" on Edison International's consolidated statement of income. The unrealized gain for equity investments held was $12 million for both three months and six months ended June 30, 2021. For further information, see Note 4 and Note 15.