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Derivative Instruments (Tables) - SCE | 12 Months Ended
--- | ---
Dec. 31, 2017
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, 2017 |  |
|  | Derivative Assets |  | Derivative Liabilities |  | Net Asset
(in millions) |  | Short-Term |  | Long-Term |  | Subtotal |  | Short-Term |  | Long-Term |  | Subtotal 2 |
Commodity derivative contracts |  |  |  |  |  |  |  |  |  |  |  |
Gross amounts recognized |  | $ | 106 |  |  | $ | 5 |  |  | $ | 111 |  |  | $ | 3 |  |  | $ | — |  |  | $ | 3 |  |  | $ | 108 |
Gross amounts offset in the consolidated balance sheets |  | (1 | ) |  | — |  |  | (1 | ) |  | (1 | ) |  | — |  |  | (1 | ) |  | — |
Cash collateral posted 1 |  | — |  |  | — |  |  | — |  |  | (1 | ) |  | — |  |  | (1 | ) |  | 1 |
Net amounts presented in the consolidated balance sheets |  | $ | 105 |  |  | $ | 5 |  |  | $ | 110 |  |  | $ | 1 |  |  | $ | — |  |  | $ | 1 |  |  | $ | 109 |
|  | 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 the consolidated balance sheets |  | (1 | ) |  | — |  |  | (1 | ) |  | (1 | ) |  | — |  |  | (1 | ) |  | — |
Cash collateral posted 1 |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Net amounts presented in the consolidated balance sheets |  | $ | 73 |  |  | $ | 1 |  |  | $ | 74 |  |  | $ | 216 |  |  | $ | 941 |  |  | $ | 1,157 |  |  | $ | 1,083 |
1 | At December 31, 2016, SCE had received $2 million of cash collateral that is not offset against derivative assets and is reflected in "Other current liabilities" on the consolidated balance sheets.
2 During the third quarter of 2017, SCE designated certain derivative contracts as normal purchase and normal sale contracts, which resulted in a reclassification of $914 million from derivative liabilities to other liabilities. These liabilities will be amortized over the remaining contract terms.
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, 2017 |  |
|  | Derivative Assets |  | Derivative Liabilities |  | Net Asset
(in millions) |  | Short-Term |  | Long-Term |  | Subtotal |  | Short-Term |  | Long-Term |  | Subtotal 2 |
Commodity derivative contracts |  |  |  |  |  |  |  |  |  |  |  |
Gross amounts recognized |  | $ | 106 |  |  | $ | 5 |  |  | $ | 111 |  |  | $ | 3 |  |  | $ | — |  |  | $ | 3 |  |  | $ | 108 |
Gross amounts offset in the consolidated balance sheets |  | (1 | ) |  | — |  |  | (1 | ) |  | (1 | ) |  | — |  |  | (1 | ) |  | — |
Cash collateral posted 1 |  | — |  |  | — |  |  | — |  |  | (1 | ) |  | — |  |  | (1 | ) |  | 1 |
Net amounts presented in the consolidated balance sheets |  | $ | 105 |  |  | $ | 5 |  |  | $ | 110 |  |  | $ | 1 |  |  | $ | — |  |  | $ | 1 |  |  | $ | 109 |
|  | 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 the consolidated balance sheets |  | (1 | ) |  | — |  |  | (1 | ) |  | (1 | ) |  | — |  |  | (1 | ) |  | — |
Cash collateral posted 1 |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Net amounts presented in the consolidated balance sheets |  | $ | 73 |  |  | $ | 1 |  |  | $ | 74 |  |  | $ | 216 |  |  | $ | 941 |  |  | $ | 1,157 |  |  | $ | 1,083 |
1 | At December 31, 2016, SCE had received $2 million of cash collateral that is not offset against derivative assets and is reflected in "Other current liabilities" on the consolidated balance sheets.
2 During the third quarter of 2017, SCE designated certain derivative contracts as normal purchase and normal sale contracts, which resulted in a reclassification of $914 million from derivative liabilities to other liabilities. These liabilities will be amortized over the remaining contract terms.
Components of Economic Hedging Activity | The following table summarizes the components of SCE's economic hedging activity:
|  | Years ended December 31,
(in millions) |  | 2017 |  | 2016 |  | 2015
Realized losses |  | $ | (14 | ) |  | $ | (59 | ) |  | $ | (148 | )
Unrealized gains (losses) |  | 106 |  |  | 84 |  |  | (182 | )
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 | 2017 |  | 2016
Electricity options, swaps and forwards | GWh | 475 |  |  | 1,816
Natural gas options, swaps and forwards | Bcf | 143 |  |  | 36
Congestion revenue rights | GWh | 78,765 |  |  | 93,319
Tolling arrangements | GWh | — |  |  | 61,093

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