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Leases (Tables) | 9 Months Ended
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Sep. 30, 2020
Leases [Abstract] |
Summary of Finance Lease Payments | The following table summarizes SCE's lease payments for operating and finance leases as of September 30, 2020:
(in millions) | PPA Operating Leases1 |  | Other Operating Leases2,3 |  | PPA Finance Leases1
2020 | $ | 37 |  |  | $ | 10 |  |  | $ | — |
2021 | 205 |  |  | 36 |  |  | 1 |
2022 | 208 |  |  | 30 |  |  | 1 |
2023 | 159 |  |  | 24 |  |  | 2 |
2024 | 47 |  |  | 19 |  |  | 2 |
Thereafter | 489 |  |  | 114 |  |  | 8 |
Total lease payments | 1,145 |  |  | 233 |  |  | 14 |
Amount representing interest3 | 209 |  |  | 60 |  |  | 5 |
Lease liabilities | $ | 936 |  |  | $ | 173 |  |  | $ | 9 |
1Excludes 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. 2Excludes 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. 3Lease payments are discounted to their present value using SCE's incremental borrowing rates.
Summary of Operating Lease Payments | The following table summarizes SCE's lease payments for operating and finance leases as of September 30, 2020:
(in millions) | PPA Operating Leases1 |  | Other Operating Leases2,3 |  | PPA Finance Leases1
2020 | $ | 37 |  |  | $ | 10 |  |  | $ | — |
2021 | 205 |  |  | 36 |  |  | 1 |
2022 | 208 |  |  | 30 |  |  | 1 |
2023 | 159 |  |  | 24 |  |  | 2 |
2024 | 47 |  |  | 19 |  |  | 2 |
Thereafter | 489 |  |  | 114 |  |  | 8 |
Total lease payments | 1,145 |  |  | 233 |  |  | 14 |
Amount representing interest3 | 209 |  |  | 60 |  |  | 5 |
Lease liabilities | $ | 936 |  |  | $ | 173 |  |  | $ | 9 |
1Excludes 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. 2Excludes 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. 3Lease 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, 2020 |  | December 31, 2019
Operating leases: |  |  |
Operating lease right-of-use ("ROU") assets1 | $ | 1,109 |  |  | $ | 689 |
Current portion of operating lease liabilities | 210 |  |  | 79 |
Operating lease liabilities | 899 |  |  | 610 |
Total operating lease liabilities1 | $ | 1,109 |  |  | $ | 689 |
Finance leases included in: |  |  |
Utility property, plant and equipment, gross | $ | 10 |  |  | $ | 14 |
Accumulated depreciation | (1) |  |  | (5) |
Utility property, plant and equipment, net | 9 |  |  | 9 |
Other current liabilities | 1 |  |  | 1 |
Other long-term liabilities | 8 |  |  | 8 |
Total finance lease liabilities | $ | 9 |  |  | $ | 9 |
1 During the third quarter of 2020, a PPA operating lease contract commenced and one PPA contract was amended that resulted in a total of $463 million additions in ROU assets and lease liabilities.
Summary of Lease Expense Components | The following table summarizes the components of SCE's lease expense:
|  | Three months ended September 30, |  |  |  | Nine months ended September 30, |  |
(in millions) |  | 2020 |  | 2019 |  | 2020 |  | 2019
PPA leases: |  |  |  |  |  |  |  |
Operating lease cost |  | 35 |  |  | 38 |  |  | 74 |  |  | 98 |
Finance lease cost |  | 1 |  |  | 1 |  |  | 2 |  |  | 1 |
Variable lease cost1 |  | 676 |  |  | 751 |  |  | 1,582 |  |  | 1,742 |
Total PPA lease cost |  | 712 |  |  | 790 |  |  | 1,658 |  |  | 1,841 |
Other operating leases cost |  | 11 |  |  | 12 |  |  | 35 |  |  | 35 |
Total lease cost |  | $ | 723 |  |  | $ | 802 |  |  | $ | 1,693 |  |  | $ | 1,876 |
1Includes 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) | Nine month ended September 30, 2020 |  | Nine month ended September 30, 2019
Cash paid for amounts included in the measurement of lease liabilities: |  |  |
Operating cash flows from operating leases |  |  |
PPA leases | $ | 74 |  |  | $ | 98 |
Other leases | 33 |  |  | 34 |
ROU assets obtained in exchange for lease obligations: |  |  |
PPA operating leases | 463 |  |  | — |
Other operating leases | 42 |  |  | 23 |
Weighted average remaining lease term (in years): |  |  |
Operating leases |  |  |
PPA leases | 9.83 |  | 16.03
Other leases | 12.35 |  | 12.75
PPA Finance leases | 10.90 |  | 11.71
Weighted average discount rate: |  |  |
Operating leases |  |  |
PPA leases | 3.08 | % |  | 4.44 | %
Other leases | 3.74 | % |  | 3.89 | %
PPA Finance leases | 8.83 | % |  | 8.74 | %

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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=121609121&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=121609121&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=121609121&loc=SL77918701-209980 + Details
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