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Derivative Instruments (Tables) - Southern California Edison | 6 Months Ended
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Jun. 30, 2019
Derivative Instruments and Hedging Activities Disclosures [Line Items] |
Fair Value of Derivative Asset Instruments | The following table summarizes the gross and net fair values of SCE's commodity derivative instruments:
|  | June 30, 2019 |  |
|  | Derivative Assets |  | Derivative Liabilities |  | Net Assets
(in millions) |  | Short-Term |  | Long-Term 1 |  | Subtotal |  | Short-Term 2 |  | Long-Term |  | Subtotal |
Commodity derivative contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross amounts recognized |  | $ | 58 |  |  | $ | 8 |  |  | $ | 66 |  |  | $ | 34 |  |  | $ | — |  |  | $ | 34 |  |  | $ | 32 |
Gross amounts offset in the consolidated balance sheets |  | (3 | ) |  | — |  |  | (3 | ) |  | (3 | ) |  | — |  |  | (3 | ) |  | — |
Cash collateral posted 3 |  | — |  |  | — |  |  | — |  |  | (27 | ) |  | — |  |  | (27 | ) |  | 27 |
Net amounts presented in the consolidated balance sheets |  | $ | 55 |  |  | $ | 8 |  |  | $ | 63 |  |  | $ | 4 |  |  | $ | — |  |  | $ | 4 |  |  | $ | 59 |
|  | December 31, 2018 |  |
|  | Derivative Assets |  | Derivative Liabilities |  | Net Assets
(in millions) |  | Short-Term |  | Long-Term 1 |  | Subtotal |  | Short-Term 2 |  | Long-Term |  | Subtotal |
Commodity derivative contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross amounts recognized |  | $ | 171 |  |  | $ | 2 |  |  | $ | 173 |  |  | $ | 13 |  |  | $ | — |  |  | $ | 13 |  |  | $ | 160 |
Gross amounts offset in the consolidated balance sheets |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Cash collateral posted |  | — |  |  | — |  |  | — |  |  | (7 | ) |  | — |  |  | (7 | ) |  | 7 |
Net amounts presented in the consolidated balance sheets |  | $ | 171 |  |  | $ | 2 |  |  | $ | 173 |  |  | $ | 6 |  |  | $ | — |  |  | $ | 6 |  |  | $ | 167 |
1 Included in "Other long-term assets" on Edison International's and SCE's consolidated balance sheets. 2 Included in "Other current liabilities" on Edison International's and SCE's consolidated balance sheets. 3 At June 30, 2019, SCE posted $46 million of cash, of which $27 million was offset against net derivative liabilities and $19 million was reflected in "Other current assets" on the consolidated balance sheets.
Fair Value of Derivative Liabilities Instruments | The following table summarizes the gross and net fair values of SCE's commodity derivative instruments:
|  | June 30, 2019 |  |
|  | Derivative Assets |  | Derivative Liabilities |  | Net Assets
(in millions) |  | Short-Term |  | Long-Term 1 |  | Subtotal |  | Short-Term 2 |  | Long-Term |  | Subtotal |
Commodity derivative contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross amounts recognized |  | $ | 58 |  |  | $ | 8 |  |  | $ | 66 |  |  | $ | 34 |  |  | $ | — |  |  | $ | 34 |  |  | $ | 32 |
Gross amounts offset in the consolidated balance sheets |  | (3 | ) |  | — |  |  | (3 | ) |  | (3 | ) |  | — |  |  | (3 | ) |  | — |
Cash collateral posted 3 |  | — |  |  | — |  |  | — |  |  | (27 | ) |  | — |  |  | (27 | ) |  | 27 |
Net amounts presented in the consolidated balance sheets |  | $ | 55 |  |  | $ | 8 |  |  | $ | 63 |  |  | $ | 4 |  |  | $ | — |  |  | $ | 4 |  |  | $ | 59 |
|  | December 31, 2018 |  |
|  | Derivative Assets |  | Derivative Liabilities |  | Net Assets
(in millions) |  | Short-Term |  | Long-Term 1 |  | Subtotal |  | Short-Term 2 |  | Long-Term |  | Subtotal |
Commodity derivative contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross amounts recognized |  | $ | 171 |  |  | $ | 2 |  |  | $ | 173 |  |  | $ | 13 |  |  | $ | — |  |  | $ | 13 |  |  | $ | 160 |
Gross amounts offset in the consolidated balance sheets |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Cash collateral posted |  | — |  |  | — |  |  | — |  |  | (7 | ) |  | — |  |  | (7 | ) |  | 7 |
Net amounts presented in the consolidated balance sheets |  | $ | 171 |  |  | $ | 2 |  |  | $ | 173 |  |  | $ | 6 |  |  | $ | — |  |  | $ | 6 |  |  | $ | 167 |
1 Included in "Other long-term assets" on Edison International's and SCE's consolidated balance sheets. 2 Included in "Other current liabilities" on Edison International's and SCE's consolidated balance sheets. 3 At June 30, 2019, SCE posted $46 million of cash, of which $27 million was offset against net derivative liabilities and $19 million was reflected in "Other current assets" on the consolidated balance sheets.
Summarization of Economic Hedging Activities | The following table summarizes the components of SCE's economic hedging activity:
|  | Three months ended June 30, |  | Six months ended June 30,
(in millions) |  | 2019 |  | 2018 |  | 2019 |  | 2018
Realized gains (losses) |  | $ | (2 | ) |  | $ | (8 | ) |  | $ | 30 |  |  | $ | (20 | )
Unrealized losses |  | (78 | ) |  | (12 | ) |  | (128 | ) |  | (26 | )
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 |  | June 30, 2019 |  | December 31, 2018
Electricity options, swaps and forwards |  | GWh |  | 4,750 |  |  | 2,786 |
Natural gas options, swaps and forwards |  | Bcf |  | 28 |  |  | 20 |
Congestion revenue rights |  | GWh |  | 30,247 |  |  | 54,453 |

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