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Derivative Instruments (Tables)
 3 Months Ended
Mar. 31, 2013
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Fair Value of Derivative Instruments
The following table summarizes the gross and net fair values of SCE's commodity derivative instruments:
 
 
March 31, 2013
 
 
 
 
Derivative Assets
 
Derivative Liabilities
 
 
(in millions)
 
Short-Term
 
Long-Term
 
Subtotal
 
Short-Term
 
Long-Term
 
Subtotal
 
Net
Liability
Commodity derivative contracts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gross amounts recognized
 
$
133

 
$
85

 
$
218

 
$
149

 
$
1,025

 
$
1,174

 
$
956

Gross amounts offset in the consolidated balance sheets
 
(22
)
 
(4
)
 
(26
)
 
(22
)
 
(4
)
 
(26
)
 
—

Cash collateral posted1
 
—

 
—

 
—

 
(20
)
 
(7
)
 
(27
)
 
(27
)
Net amounts presented in the consolidated balance sheets
 
$
111

 
$
81

 
$
192

 
$
107

 
$
1,014

 
$
1,121

 
$
929


 
 
December 31, 2012
 
 
 
 
Derivative Assets
 
Derivative Liabilities
 
 
(in millions)
 
Short-Term
 
Long-Term
 
Subtotal
 
Short-Term
 
Long-Term
 
Subtotal
 
Net
Liability
Commodity derivative contracts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gross amounts recognized
 
$
151

 
$
91

 
$
242

 
$
186

 
$
954

 
$
1,140

 
$
898

Gross amounts offset in the consolidated balance sheets
 
(22
)
 
(6
)
 
(28
)
 
(22
)
 
(6
)
 
(28
)
 
—

Cash collateral posted1
 
—

 
—

 
—

 
(38
)
 
(9
)
 
(47
)
 
(47
)
Net amounts presented in the consolidated balance sheets
 
$
129

 
$
85

 
$
214

 
$
126

 
$
939

 
$
1,065

 
$
851


1 
In addition, SCE has posted $10 million and $8 million of collateral that is not offset against the derivative liabilities and is reflected in "Other current assets" on the March 31, 2013 and December 31, 2012 consolidated balance sheets, respectively.
Summarization of Economic Hedging Activities
The following table summarizes the components of SCE's economic hedging activity:
 
 
Three months ended March 31,
(in millions)
 
2013
 
2012
Realized losses
 
$
(16
)
 
$
(55
)
Unrealized losses
 
(54
)
 
(361
)
Notional Volumes of Derivative Instruments
The following table summarizes the notional volumes of derivatives used for SCE hedging activities:
 
 
Economic Hedges
Commodity
Unit of Measure
March 31, 2013
 
December 31, 2012
Electricity options, swaps and forwards
GWh
13,067

 
15,884
Natural gas options, swaps and forwards
Bcf
65

 
100
Congestion revenue rights
GWh
138,697

 
149,774
Tolling arrangements
GWh
100,810

 
101,485