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Leases (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2019
Leases [Abstract] |
Summary of Finance Lease Payments | The following table summarizes SCE's lease payments for operating and finance leases as of December 31, 2019:
(in millions) | PPA Operating Leases 1,2 |  | Other Operating Leases 3 |  | PPA Finance Leases 1
2020 | $ | 70 |  |  | $ | 37 |  |  | $ | 1 |
2021 | 48 |  |  | 30 |  |  | 1 |
2022 | 48 |  |  | 24 |  |  | 1 |
2023 | 47 |  |  | 19 |  |  | 2 |
2024 | 47 |  |  | 14 |  |  | 2 |
Thereafter | 489 |  |  | 95 |  |  | 8 |
Total lease payments | 749 |  |  | 219 |  |  | 15 |
Amount representing interest 4 | 220 |  |  | 59 |  |  | 6 |
Lease liabilities | $ | 529 |  |  | $ | 160 |  |  | $ | 9 |
Summary of Operating Lease Payments | The following table summarizes SCE's lease payments for operating and finance leases as of December 31, 2019:
(in millions) | PPA Operating Leases 1,2 |  | Other Operating Leases 3 |  | PPA Finance Leases 1
2020 | $ | 70 |  |  | $ | 37 |  |  | $ | 1 |
2021 | 48 |  |  | 30 |  |  | 1 |
2022 | 48 |  |  | 24 |  |  | 1 |
2023 | 47 |  |  | 19 |  |  | 2 |
2024 | 47 |  |  | 14 |  |  | 2 |
Thereafter | 489 |  |  | 95 |  |  | 8 |
Total lease payments | 749 |  |  | 219 |  |  | 15 |
Amount representing interest 4 | 220 |  |  | 59 |  |  | 6 |
Lease liabilities | $ | 529 |  |  | $ | 160 |  |  | $ | 9 |
Summary of Capital Lease Payments | At December 31, 2018, SCE's future minimum lease payments 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 minimum lease payments 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) | December 31, 2019
Operating leases: |
Operating lease ROU assets | $ | 689 |
Current portion of operating lease liabilities | 79 |
Operating lease liabilities | 610 |
Total operating lease liabilities | $ | 689 |
Finance leases included in: |
Utility property, plant and equipment, gross | $ | 14 |
Accumulated depreciation | (5 | )
Utility property, plant and equipment, net | 9 |
Other current liabilities | 1 |
Other long-term liabilities | 8 |
Total finance lease liabilities | $ | 9 |
Summary of Lease Expense Components | The following table summarizes the components of SCE's lease expense:
(in millions) | Year ended December 31, 2019
PPA leases: |
Operating lease cost | $ | 118 |
Finance lease cost | 1 |
Variable lease cost 1 | 2,087 |
Total PPA lease cost | 2,206 |
Other operating leases cost | 46 |
Total lease cost | $ | 2,252 |
1 Includes lease costs from renewable energy contracts where payments are based on contingent external factors such as wind, hydro and solar power generation. Other information related to leases was as follows:
(in millions, except lease term and discount rate) | Year ended December 31, 2019
Cash paid for amounts included in the measurement of lease liabilities: |
Operating cash flows from operating leases |
PPA leases | $ | 118 |
Other leases | 44 |
Financing cash flows from PPA finance leases | 1 |
ROU assets obtained in exchange for lease obligations: |
Other operating leases | 34 |
Weighted average remaining lease term (in years): |
Operating leases |
PPA leases | 16.05 |
Other leases | 12.73 |
PPA Finance leases | 11.51 |
Weighted average discount rate: |
Operating leases |
PPA leases | 4.46 | %
Other leases | 3.88 | %
PPA Finance leases | 8.76 | %
Schedule of Undiscounted Cash Flow Expected from Lease Payments | At December 31, 2019, the undiscounted cash flow expected to be received from lease payments for the remaining years is as follows:
(in millions) |
2020 | $ | 11 |
2021 | 10 |
2022 | 10 |
2023 | 9 |
2024 | 8 |
Thereafter | 148 |
Total | $ | 196 |

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