XML 53 R36.htm IDEA: XBRL DOCUMENT v3.6.0.2
Derivative Instruments (Tables) - SCE
 12 Months Ended
Dec. 31, 2016
Derivative Instruments and Hedging Activities Disclosures [Line Items]  
Schedule of Derivative Liabilities in Statement of Financial Position, Fair Value
The following table summarizes the gross and net fair values of SCE's commodity derivative instruments:
 
 
December 31, 2016
 
 
 
 
Derivative Assets
 
Derivative Liabilities
 
Net Liability
(in millions)
 
Short-Term
 
Long-Term
 
Subtotal
 
Short-Term
 
Long-Term
 
Subtotal
 
Commodity derivative contracts
 
 
 
 
 
 
 
 
 
 
 
 
Gross amounts recognized
 
$
74

 
$
1

 
$
75

 
$
217

 
$
941

 
$
1,158

 
$
1,083

Gross amounts offset in consolidated balance sheets
 
(1
)
 
—

 
(1
)
 
(1
)
 
—

 
(1
)
 
—

Cash collateral posted1
 
—

 
—

 
—

 
—

 
—

 
—

 
—

Net amounts presented in the consolidated balance sheets
 
$
73

 
$
1

 
$
74

 
$
216

 
$
941

 
$
1,157

 
$
1,083


 
 
December 31, 2015
 
 
 
 
Derivative Assets
 
Derivative Liabilities
 
Net Liability
(in millions)
 
Short-Term
 
Long-Term
 
Subtotal
 
Short-Term
 
Long-Term
 
Subtotal
 
Commodity derivative contracts
 
 
 
 
 
 
 
 
 
 
 
 
Gross amounts recognized
 
$
81

 
$
84

 
$
165

 
$
235

 
$
1,100

 
$
1,335

 
$
1,170

Gross amounts offset in consolidated balance sheets
 
(2
)
 
—

 
(2
)
 
(2
)
 
—

 
(2
)
 
—

Cash collateral posted1
 
—

 
—

 
—

 
(15
)
 
—

 
(15
)
 
(15
)
Net amounts presented in the consolidated balance sheets
 
$
79

 
$
84

 
$
163

 
$
218

 
$
1,100

 
$
1,318

 
$
1,155

1 
In addition, at December 31, 2016, SCE received $2 million of collateral that is not offset against derivative assets and is reflected in "Other current liabilities" on the consolidated balance sheets. At December 31, 2015, SCE had posted $31 million of cash collateral that is not offset against derivative liabilities and is reflected in "Other current assets" on the consolidated balance sheets.
Schedule of Derivative Assets in Statement of Financial Position, Fair Value
The following table summarizes the gross and net fair values of SCE's commodity derivative instruments:
 
 
December 31, 2016
 
 
 
 
Derivative Assets
 
Derivative Liabilities
 
Net Liability
(in millions)
 
Short-Term
 
Long-Term
 
Subtotal
 
Short-Term
 
Long-Term
 
Subtotal
 
Commodity derivative contracts
 
 
 
 
 
 
 
 
 
 
 
 
Gross amounts recognized
 
$
74

 
$
1

 
$
75

 
$
217

 
$
941

 
$
1,158

 
$
1,083

Gross amounts offset in consolidated balance sheets
 
(1
)
 
—

 
(1
)
 
(1
)
 
—

 
(1
)
 
—

Cash collateral posted1
 
—

 
—

 
—

 
—

 
—

 
—

 
—

Net amounts presented in the consolidated balance sheets
 
$
73

 
$
1

 
$
74

 
$
216

 
$
941

 
$
1,157

 
$
1,083


 
 
December 31, 2015
 
 
 
 
Derivative Assets
 
Derivative Liabilities
 
Net Liability
(in millions)
 
Short-Term
 
Long-Term
 
Subtotal
 
Short-Term
 
Long-Term
 
Subtotal
 
Commodity derivative contracts
 
 
 
 
 
 
 
 
 
 
 
 
Gross amounts recognized
 
$
81

 
$
84

 
$
165

 
$
235

 
$
1,100

 
$
1,335

 
$
1,170

Gross amounts offset in consolidated balance sheets
 
(2
)
 
—

 
(2
)
 
(2
)
 
—

 
(2
)
 
—

Cash collateral posted1
 
—

 
—

 
—

 
(15
)
 
—

 
(15
)
 
(15
)
Net amounts presented in the consolidated balance sheets
 
$
79

 
$
84

 
$
163

 
$
218

 
$
1,100

 
$
1,318

 
$
1,155

1 
In addition, at December 31, 2016, SCE received $2 million of collateral that is not offset against derivative assets and is reflected in "Other current liabilities" on the consolidated balance sheets. At December 31, 2015, SCE had posted $31 million of cash collateral that is not offset against derivative liabilities and is reflected in "Other current assets" on the consolidated balance sheets.
Derivative Instruments, Gain (Loss)
The following table summarizes the components of SCE's economic hedging activity:
 
 
Years ended December 31,
(in millions)
 
2016
 
2015
 
2014
Realized losses
 
$
(59
)
 
$
(148
)
 
$
(57
)
Unrealized gains (losses)
 
84

 
(182
)
 
(147
)
Notional Volumes of Derivative Instruments
The following table summarizes the notional volumes of derivatives used for SCE hedging activities:
 
 
Economic Hedges
 
Unit of
December 31,
Commodity
Measure
2016
 
2015
Electricity options, swaps and forwards
GWh
1,816

 
6,221
Natural gas options, swaps and forwards
Bcf
36

 
32
Congestion revenue rights
GWh
93,319

 
109,740
Tolling arrangements
GWh
61,093

 
70,663