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Investments | 12 Months Ended
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Dec. 31, 2016
Regulated Entity, Other Assets, Noncurrent [Abstract] |
Investments | Investments Nuclear Decommissioning Trusts Future decommissioning costs related to SCE's nuclear assets are expected to be funded from independent decommissioning trusts. The following table sets forth amortized cost and fair value of the trust investments (see Note 4 for a discussion of fair value of the trust investments):
| Longest Maturity Date |  | Amortized Cost |  | Fair Value
|  | December 31,
(in millions) |  | 2016 |  | 2015 |  | 2016 |  | 2015
Stocks | — |  | $ | 319 |  |  | $ | 304 |  |  | $ | 1,547 |  |  | $ | 1,460 |
Municipal bonds | 2054 |  | 659 |  |  | 691 |  |  | 766 |  |  | 840 |
U.S. government and agency securities | 2055 |  | 1,131 |  |  | 1,070 |  |  | 1,191 |  |  | 1,128 |
Corporate bonds | 2057 |  | 600 |  |  | 708 |  |  | 659 |  |  | 755 |
Short-term investments and receivables/payables 1 | One-year |  | 75 |  |  | 144 |  |  | 79 |  |  | 148 |
Total |  |  | $ | 2,784 |  |  | $ | 2,917 |  |  | $ | 4,242 |  |  | $ | 4,331 |
1 | Short-term investments include $114 million and $81 million of repurchase agreements payable by financial institutions which earn interest, are fully secured by U.S. Treasury securities and mature by January 4, 2017 and January 5, 2016 as of December 31, 2016 and 2015, respectively.
Trust fund earnings (based on specific identification) increase the trust fund balance and the ARO regulatory liability. Unrealized holding gains, net of losses, were $1.5 billion and $1.4 billion at December 31, 2016 and 2015, respectively. The following table sets forth a summary of changes in the fair value of the trust:
| Years ended December 31,
(in millions) | 2016 |  | 2015 |  | 2014
Balance at beginning of period | $ | 4,331 |  |  | $ | 4,799 |  |  | $ | 4,494 |
Gross realized gains | 92 |  |  | 326 |  |  | 197 |
Gross realized losses | (19 | ) |  | (26 | ) |  | (5 | )
Unrealized gains (losses) | 44 |  |  | (364 | ) |  | 75 |
Other-than-temporary impairments | (36 | ) |  | (29 | ) |  | (14 | )
Interest, dividends and other | 116 |  |  | 115 |  |  | 118 |
Contributions | — |  |  | 54 |  |  | 5 |
Income taxes | (58 | ) |  | (64 | ) |  | (62 | )
Decommissioning disbursements | (224 | ) |  | (471 | ) |  | (4 | )
Administrative expenses and other | (4 | ) |  | (9 | ) |  | (5 | )
Balance at end of period | $ | 4,242 |  |  | $ | 4,331 |  |  | $ | 4,799 |
Trust assets are used to pay income taxes as the Trust files separate income taxes returns from SCE. Deferred tax liabilities related to net unrealized gains at December 31, 2016 were $348 million. Accordingly, the fair value of Trust assets available to pay future decommissioning costs, net of deferred income taxes, totaled $3.9 billion at December 31, 2016. Due to regulatory mechanisms, changes in assets of the trusts from income or loss items have no impact on operating revenue or earnings. Beginning in 2016, funds for decommissioning costs are requested from the nuclear decommissioning trusts one month in advance. Decommissioning disbursements are funded from sales of investments of the nuclear decommissioning trusts. Acquisitions On December 31, 2015, Edison Energy acquired three businesses for an aggregate purchase price of approximately $100 million, of which $90 million was allocated to goodwill and identifiable intangibles. Under the terms of the acquisition of one of the agreements, the sellers were entitled to additional consideration (earn-out) in the event that certain financial thresholds were achieved. During the second quarter of 2016, Edison Energy entered into an agreement to buy-out this earn-out provision and recorded an after-tax charge of $13 million. The buy-out was completed, together with modification to employment contracts, in order to align long-term incentive compensation. During 2016, a subsidiary of SoCore Energy agreed to acquire equity interests in solar garden development projects in Minnesota as part of the SunEdison bankruptcy proceedings, subject to certain conditions. The maximum purchase price is $41.9 million if all projects achieve the required conditions. SoCore Energy would also reimburse SunEdison up to $8.7 million of project-specific interconnection costs. Not all of the projects are expected to achieve the closing conditions. Through February 1, 2017, SoCore Energy acquired four of these development projects (28 MWdc) for $10.5 million.

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