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 $69 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 October 3, 2022 and January 3, 2022 as of September 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 $1.4 billion and $2.1 billion at September 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 $272 million and $517 million at September 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 $3.6 billion and $4.4 billion at September 30, 2022 and December 31, 2021, respectively.

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


	Three months ended September 30,				Nine months ended September 30,
(in millions)	2022		2021		2022		2021
Gross realized gains	$	22	$	77	$	111	$	328
Gross realized losses		(35)		(5)		(96)		(21)
Net unrealized losses for equity securities		(83)		(74)		(515)		(41)

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 Parent and Other's Investments

Edison International Parent and Other hold strategic investments in companies focused on developing electric technologies and services. As of September 30, 2022 and December 31, 2021, these investments consist of $7 million and $12 million of marketable securities, respectively, and $11 million and $3 million of equity investments without readily determinable fair values, respectively (included as "Other investments" on Edison International's consolidated balance sheets). The equity investments without readily determinable fair values balances included cumulative upward adjustments of $9 million and $1 million as of September 30, 2022 and December 31, 2021, respectively. The cumulative upward adjustments resulted primarily from values determined by additional capital infusions.

The following table summarizes unrealized gains/(losses) for equity securities held at the reporting date, recorded as "Other income" on Edison International's consolidated statement of income:


	Three months ended September 30,				Nine months ended September 30,
(in millions)	2022		2021		2022		2021
Marketable securities	$	—	$	(8)	$	(5)	$	4
Equity investments without readily determinable fair values - upward adjustments		8		—		8		1
Total unrealized gains/(losses)	$	8	$	(8)	$	3	$	5

For further information, see Note 4 and Note 15.