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v3.19.3

Leases (Tables) | 9 Months Ended
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Sep. 30, 2019
Leases [Abstract] |
Summary of Finance Lease Payments | The following table summarizes SCE's lease payments for operating and finance leases as of September 30, 2019.
(in millions) | PPA Operating Leases 1,2 |  | Other Operating Leases 3 |  | PPA Finance Leases 1
2019 | $ | 20 |  |  | $ | 11 |  |  | $ | — |
2020 | 70 |  |  | 35 |  |  | 1 |
2021 | 48 |  |  | 28 |  |  | 1 |
2022 | 48 |  |  | 23 |  |  | 2 |
2023 | 47 |  |  | 17 |  |  | 2 |
Thereafter | 536 |  |  | 104 |  |  | 9 |
Total lease payments | $ | 769 |  |  | $ | 218 |  |  | $ | 15 |
Amount representing interest 4 | 226 |  |  | 60 |  |  | 6 |
Lease liabilities | $ | 543 |  |  | $ | 158 |  |  | $ | 9 |
Summary of Operating Lease Payments | The following table summarizes SCE's lease payments for operating and finance leases as of September 30, 2019.
(in millions) | PPA Operating Leases 1,2 |  | Other Operating Leases 3 |  | PPA Finance Leases 1
2019 | $ | 20 |  |  | $ | 11 |  |  | $ | — |
2020 | 70 |  |  | 35 |  |  | 1 |
2021 | 48 |  |  | 28 |  |  | 1 |
2022 | 48 |  |  | 23 |  |  | 2 |
2023 | 47 |  |  | 17 |  |  | 2 |
Thereafter | 536 |  |  | 104 |  |  | 9 |
Total lease payments | $ | 769 |  |  | $ | 218 |  |  | $ | 15 |
Amount representing interest 4 | 226 |  |  | 60 |  |  | 6 |
Lease liabilities | $ | 543 |  |  | $ | 158 |  |  | $ | 9 |
Summary of Capital Lease Payments | At December 31, 2018, SCE's future expected minimum lease commitments under non-cancellable leases were as follows:
(in millions) | PPA Operating Leases 1 |  | Other Operating Leases 3 |  | PPA Capital Leases 1
2019 | $ | 148 |  |  | $ | 42 |  |  | $ | 5 |
2020 | 124 |  |  | 31 |  |  | 6 |
2021 | 103 |  |  | 27 |  |  | 6 |
2022 | 79 |  |  | 22 |  |  | 6 |
2023 | 47 |  |  | 17 |  |  | 5 |
Thereafter | 536 |  |  | 101 |  |  | 66 |
Total lease payments | $ | 1,037 |  |  | $ | 240 |  |  | $ | 94 |
Amount representing executory costs |  |  |  |  | 25 |
Amount representing interest |  |  |  |  | 33 |
Net commitments |  |  |  |  | $ | 36 |
1 | Excludes expected purchases from most renewable energy contracts, which do not meet the definition of a lease payment since renewable power generation is contingent on external factors.
2 | During the second quarter of 2019, SCE amended three power contracts that resulted in a $161 million reduction in ROU assets and lease liabilities as these contracts no longer qualify as leases.
3 | Excludes escalation clauses based on consumer price or other indices and residual value guarantees that are not considered probable at the commencement date of the lease.
4 Lease payments are discounted to their present value using SCE's incremental borrowing rates.
Summary of Operating Lease Payments | At December 31, 2018, SCE's future expected minimum lease commitments under non-cancellable leases were as follows:
(in millions) | PPA Operating Leases 1 |  | Other Operating Leases 3 |  | PPA Capital Leases 1
2019 | $ | 148 |  |  | $ | 42 |  |  | $ | 5 |
2020 | 124 |  |  | 31 |  |  | 6 |
2021 | 103 |  |  | 27 |  |  | 6 |
2022 | 79 |  |  | 22 |  |  | 6 |
2023 | 47 |  |  | 17 |  |  | 5 |
Thereafter | 536 |  |  | 101 |  |  | 66 |
Total lease payments | $ | 1,037 |  |  | $ | 240 |  |  | $ | 94 |
Amount representing executory costs |  |  |  |  | 25 |
Amount representing interest |  |  |  |  | 33 |
Net commitments |  |  |  |  | $ | 36 |
1 | Excludes expected purchases from most renewable energy contracts, which do not meet the definition of a lease payment since renewable power generation is contingent on external factors.
2 | During the second quarter of 2019, SCE amended three power contracts that resulted in a $161 million reduction in ROU assets and lease liabilities as these contracts no longer qualify as leases.
3 | Excludes escalation clauses based on consumer price or other indices and residual value guarantees that are not considered probable at the commencement date of the lease.
4 Lease payments are discounted to their present value using SCE's incremental borrowing rates.
Supplemental Balance Sheet Information | Supplemental balance sheet information related to SCE's leases was as follows:
(in millions) | September 30, 2019
Operating leases: |
Operating lease ROU assets | $ | 701 |
Current portion of operating lease liabilities | 90 |
Operating lease liabilities | 611 |
Total operating lease liabilities | $ | 701 |
Finance leases included in: |
Utility property, plant and equipment, gross | $ | 14 |
Accumulated depreciation | (5 | )
Utility property, plant and equipment, net | 9 |
Other current liabilities | — |
Other long-term liabilities | 9 |
Total finance lease liabilities | $ | 9 |
Summary of Lease Expense Components | Other information related to leases was as follows:
(in millions, except lease term and discount rate) | Nine months ended September 30, 2019
Cash paid for amounts included in the measurement of lease liabilities: |
Operating cash flows from operating leases |
PPA leases | $ | 98 |
Other leases | 34 |
ROU assets obtained in exchange for lease obligations: |
Other operating leases | 23 |
Weighted average remaining lease term (in years): |
Operating leases |
PPA leases | 16.03 |
Other leases | 12.75 |
PPA Finance leases | 11.71 |
Weighted average discount rate: |
Operating leases |
PPA leases | 4.44 | %
Other leases | 3.89 | %
PPA Finance leases | 8.74 | %
The timing of SCE's recognition of the lease expense conforms to ratemaking treatment for SCE's recovery of the cost of electricity and is included in purchased power for operating leases and interest and amortization expense for finance leases. The following table summarizes the components of SCE's lease expense:
(in millions) | Three months ended September 30, 2019 |  | Nine months ended September 30, 2019
PPA leases: |  |  |
Operating lease cost | $ | 38 |  |  | $ | 98 |
Finance lease cost | 1 |  |  | 1 |
Variable lease cost | 751 |  |  | 1,742 |
Total PPA lease cost | 790 |  |  | 1,841 |
Other operating leases cost | 12 |  |  | 35 |
Total lease cost | $ | 802 |  |  | $ | 1,876 |
Schedule of Undiscounted Cash Flow Expected from Lease Payments | At September 30, 2019, the undiscounted cash flow expected to be received from lease payments for the remaining years is as follows:
(in millions) |
2019 | $ | 4 |
2020 | 14 |
2021 | 10 |
2022 | 10 |
2023 | 9 |
Thereafter | 155 |
Total | $ | 202 |

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- Definition Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918701-209980 + Details
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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918686-209980 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918701-209980 + Details
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- Definition Tabular disclosure of future minimum lease payments as of the date of the latest balance sheet presented, in aggregate and for each of the five years succeeding fiscal years, with separate deductions from the total for the amount representing executor costs, including any profit thereon, included in the minimum lease payments and for the amount of the imputed interest necessary to reduce the net minimum lease payments to present value. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=84164817&loc=d3e45280-112737 + Details
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