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Regulatory Assets and Liabilities | 3 Months Ended
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Mar. 31, 2019
Regulatory Assets and Liabilities Disclosure [Abstract] |
Regulatory Assets and Liabilities | Regulatory Assets and Liabilities Regulatory Assets SCE's regulatory assets included on the consolidated balance sheets are:
(in millions) | March 31, 2019 |  | December 31, 2018
Current: |  |  |
Regulatory balancing accounts | $ | 935 |  |  | $ | 814 |
Power contracts | 333 |  |  | 305 |
Other | 18 |  |  | 14 |
Total current | 1,286 |  |  | 1,133 |
Long-term: |  |  |
Deferred income taxes, net of liabilities | 3,683 |  |  | 3,589 |
Pensions and other postretirement benefits | 274 |  |  | 271 |
Power contracts | 597 |  |  | 700 |
Unamortized investments, net of accumulated amortization | 117 |  |  | 118 |
Unamortized loss on reacquired debt | 150 |  |  | 153 |
Regulatory balancing accounts | 232 |  |  | 360 |
Environmental remediation | 135 |  |  | 134 |
Other | 80 |  |  | 55 |
Total long-term | 5,268 |  |  | 5,380 |
Total regulatory assets | $ | 6,554 |  |  | $ | 6,513 |
Regulatory Liabilities SCE's regulatory liabilities included on the consolidated balance sheets are:
(in millions) | March 31, 2019 |  | December 31, 2018
Current: |  |  |
Regulatory balancing accounts | $ | 836 |  |  | $ | 1,080 |
Energy derivatives | 100 |  |  | 158 |
2018 GRC | 341 |  |  | 274 |
Other | 18 |  |  | 20 |
Total current | 1,295 |  |  | 1,532 |
Long-term: |  |  |
Cost of removal | 2,808 |  |  | 2,769 |
Re-measurement of deferred taxes 1 | 2,650 |  |  | 2,776 |
Recoveries in excess of ARO liabilities 2 | 1,357 |  |  | 1,130 |
Regulatory balancing accounts | 1,428 |  |  | 1,344 |
Other postretirement benefits | 189 |  |  | 185 |
Other | 156 |  |  | 125 |
Total long-term | 8,588 |  |  | 8,329 |
Total regulatory liabilities | $ | 9,883 |  |  | $ | 9,861 |
1 | SCE decreased its regulatory liability and recorded an income tax benefit of $69 million during the first quarter of 2019 related to changes in the allocation of deferred tax re-measurement between customers and shareholders. For further information, see Note 8.
2 | Represents the cumulative differences between ARO expenses and amounts collected in rates primarily for the decommissioning of SCE's nuclear generation facilities. Decommissioning costs recovered through rates are primarily placed in nuclear decommissioning trusts. This regulatory liability also represents the deferral of realized and unrealized gains and losses on the nuclear decommissioning trust investments. See Note 10 for further discussion.
Net Regulatory Balancing Accounts The following table summarizes the significant components of regulatory balancing accounts included in the above tables of regulatory assets and liabilities:
(in millions) | March 31, 2019 |  | December 31, 2018
Asset (liability) |  |  |
Energy resource recovery account | $ | 927 |  |  | $ | 815 |
New system generation balancing account | (96 | ) |  | (74 | )
Public purpose programs and energy efficiency programs | (1,304 | ) |  | (1,200 | )
Tax accounting memorandum account and pole loading balancing account | (128 | ) |  | 28 |
Base revenue requirement balancing account 1 | (282 | ) |  | (628 | )
DOE litigation memorandum account | (69 | ) |  | (69 | )
Greenhouse gas auction revenue and low carbon fuel standard revenue | (150 | ) |  | (81 | )
FERC balancing accounts | (139 | ) |  | (180 | )
Catastrophic event memorandum account | 95 |  |  | 144 |
Wildfire expense memorandum account | 41 |  |  | 128 |
Other | 8 |  |  | (133 | )
Liability | $ | (1,097 | ) |  | $ | (1,250 | )
1 | The base revenue requirement balancing account at March 31, 2019 includes recovery of $107 million of premiums related to a 12-month, $300 million wildfire insurance policy purchased in December 2017. See Note 12 for further discussion.

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- Definition The entire disclosure for detailed information about regulatory assets and liabilities, including current and noncurrent assets created when regulatory agencies permit the deferral of costs to the balance sheet that would otherwise be required to appear on the company's income statement and would be charged against current expenses or revenues, as well as current and noncurrent liabilities created when regulatory agencies permit. + References No definition available. + Details
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