Derivative Instruments (Tables) - SCE

3 Months Ended

Mar. 31, 2021

Derivative Instruments and Hedging Activities Disclosures [Line Items]

Schedule of Derivative Liabilities in Statement of Financial Position, Fair Value

	March 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	$	97	$	20	$	117	$	13	$	5	$	18	$	99
Gross amounts offset in the consolidated balance sheets		(13)		(5)		(18)		(13)		(5)		(18)		—
Cash collateral posted3		—		—		—		—		—		—		—
Net amounts presented in the consolidated balance sheets	$	84	$	15	$	99	$	—	$	—	$	—	$	99

	December 31, 2020
	Derivative Assets						Derivative Liabilities
(in millions)	Short-Term1		Long-Term2		Subtotal		Short-Term		Long-Term		Subtotal		Net Assets
Commodity derivative contracts
Gross amounts recognized	$	103	$	23	$	126	$	16	$	6	$	22	$	104
Gross amounts offset in the consolidated balance sheets		(12)		(6)		(18)		(12)		(6)		(18)		—
Cash collateral posted3		—		—		—		(4)		—		(4)		4
Net amounts presented in the consolidated balance sheets	$	91	$	17	$	108	$	—	$	—	$	—	$	108

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 March 31, 2021, SCE posted cash collateral of $2 million, which was reflected in "Other current assets" on the consolidated balance sheets. At December 31, 2020, SCE posted $17 million of cash, of which $4 million was offset against derivative liabilities and $13 million was reflected in "Other current assets" on the consolidated balance sheets.

Schedule of Derivative Assets in Statement of Financial Position, Fair Value

	March 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	$	97	$	20	$	117	$	13	$	5	$	18	$	99
Gross amounts offset in the consolidated balance sheets		(13)		(5)		(18)		(13)		(5)		(18)		—
Cash collateral posted3		—		—		—		—		—		—		—
Net amounts presented in the consolidated balance sheets	$	84	$	15	$	99	$	—	$	—	$	—	$	99

	December 31, 2020
	Derivative Assets						Derivative Liabilities
(in millions)	Short-Term1		Long-Term2		Subtotal		Short-Term		Long-Term		Subtotal		Net Assets
Commodity derivative contracts
Gross amounts recognized	$	103	$	23	$	126	$	16	$	6	$	22	$	104
Gross amounts offset in the consolidated balance sheets		(12)		(6)		(18)		(12)		(6)		(18)		—
Cash collateral posted3		—		—		—		(4)		—		(4)		4
Net amounts presented in the consolidated balance sheets	$	91	$	17	$	108	$	—	$	—	$	—	$	108

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 March 31, 2021, SCE posted cash collateral of $2 million, which was reflected in "Other current assets" on the consolidated balance sheets. At December 31, 2020, SCE posted $17 million of cash, of which $4 million was offset against derivative liabilities and $13 million was reflected in "Other current assets" on the consolidated balance sheets.

Components of Economic Hedging Activity

	Three months ended March 31,
(in millions)	2021		2020
Realized gains (losses)	$	112	$	(44)
Unrealized losses		(6)		(83)

Notional Volumes of Derivative Instruments

	Unit of	Economic Hedges
Commodity	Measure	March 31, 2021	December 31, 2020
Electricity options, swaps and forwards	GWh	528	1,581
Natural gas options, swaps and forwards	Bcf	29	34
Congestion revenue rights	GWh	36,365	41,151