Derivative Instruments (Tables)

9 Months Ended

Sep. 30, 2022

Derivative Instruments

Schedule of derivative assets financial position

	September 30, 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	$	62	$	8	$	70	$	40	$	—	$	40	$	30
Gross amounts offset in the consolidated balance sheets		(16)		—		(16)		(16)		—		(16)		—
Cash collateral posted and accrued3		—		—		—		(24)		—		(24)		24
Net amounts presented in the consolidated balance sheets	$	46	$	8	$	54	$	—	$	—	$	—	$	54

	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 September 30, 2022, SCE posted and accrued $69 million of cash collateral, of which $24 million was offset against derivative liabilities and $45 million was reflected in "Other current asset" 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 September 30,			Nine months ended September 30,
(in millions)		2022		2021	2022		2021
Realized gains	$	69	$	66	$	179	$	193
Unrealized gains		36		116		1		126

Notional Volumes of Derivative Instruments

	Unit of	Economic Hedges
Commodity	Measure	September 30, 2022	December 31, 2021
Electricity options, swaps and forwards	GWh	1,038	1,869
Natural gas options, swaps and forwards	Bcf	47	58
Congestion revenue rights	GWh	39,800	33,216