Derivative Instruments (Tables)

12 Months Ended

Dec. 31, 2022

Derivative Instruments

Schedule of derivatives financial position

	December 31, 2022
	Derivative Assets						Derivative Liabilities
(in millions)	Short-Term1		Long-Term		Subtotal		Short-Term3		Long-Term		Subtotal		Net Assets
Commodity derivative contracts
Gross amounts recognized	$	459	$	—	$	459	$	120	$	—	$	120	$	339
Gross amounts offset in the consolidated balance sheets		(119)		—		(119)		(119)		—		(119)		—
Cash collateral received4		(99)				(99)						—		(99)
Net amounts presented in the consolidated balance sheets	$	241	$	—	$	241	$	1	$	—	$	1	$	240

	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 posted4		—		—		—		(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 Included in "Other current liabilities" on Edison International's and SCE's consolidated balance sheets.

4 At December 31, 2022, SCE received cash collateral and accrued the obligation to return cash collateral totaled $99 million, all of which was offset against derivative assets. 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

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

		Years ended December 31,
(in millions)		2022		2021		2020
Realized gains	$	178	$	200	$	87
Unrealized gains (losses)		310		(75)		17

Notional Volumes of Derivative Instruments

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

		Economic Hedges
	Unit of	December 31,
Commodity	Measure	2022	2021
Electricity options, swaps and forwards	GWh	1,022	1,869
Natural gas options, swaps and forwards	Bcf	42	58
Congestion revenue rights	GWh	44,028	33,216