Regulatory Assets and Liabilities

As a result of the permanent retirement of San Onofre, SCE's net regulatory asset as of September 30, 2013 was $1.45 billion comprised of: $1.54 billion of property, plant and equipment; $33 million estimated losses on disposition of nuclear fuel inventory (see Note 12 for further information); less $129 million of authorized revenue from the 2012 GRC in excess of revenues recognized based on costs incurred and a return on capital through June 6, 2013, pending the outcome of the regulatory proceedings.

Regulatory Assets

Regulatory assets included on the consolidated balance sheets are:



(in millions)	September 30, 2013		December 31, 2012
Current:
Regulatory balancing accounts	$	344	$	502
Energy derivatives	162		70
Total current	506		572
Long-term:
Deferred income taxes, net	2,911		2,663
Pensions and other postretirement benefits	1,105		1,550
Energy derivatives	960		900
Unamortized investments, net	358		507
San Onofre	1,450		—
Unamortized loss on reacquired debt	213		228
Nuclear-related investment, net	34		141
Regulatory balancing accounts	626		73
Other	358		360
Total long-term	8,015		6,422
Total regulatory assets	$	8,521	$	6,994

Regulatory Liabilities

Regulatory liabilities included on the consolidated balance sheets are:



(in millions)	September 30, 2013		December 31, 2012
Current:
Regulatory balancing accounts	$	580	$	484
Other	49		52
Total current	629		536
Long-term:
Costs of removal	2,814		2,731
Asset retirement obligations	954		1,385
Regulatory balancing accounts	1,210		1,091
Other	11		7
Total long-term	4,989		5,214
Total regulatory liabilities	$	5,618	$	5,750

The regulatory liability related to asset retirement obligations represents the nuclear decommissioning trust assets in excess of the related asset retirement obligations. The decrease in this regulatory liability resulted from a revision to the asset retirement obligations of San Onofre. For further information, see Note 1.