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Regulatory Assets and Liabilities (Tables) | 12 Months Ended
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Dec. 31, 2020
Regulatory Assets and Liabilities Disclosure [Abstract] |
Regulatory Assets Included on the Consolidated Balance Sheets | SCE's regulatory assets included on the consolidated balance sheets are:
| December 31,
(in millions) | 2020 |  | 2019
Current: |  |  |
Regulatory balancing and memorandum accounts | $ | 1,127 |  |  | $ | 798 |
Power contracts | 165 |  |  | 189 |
Other | 22 |  |  | 22 |
Total current | 1,314 |  |  | 1,009 |
Long-term: |  |  |
Deferred income taxes, net of liabilities | 4,475 |  |  | 4,026 |
Pension and other postretirement benefits | 12 |  |  | 87 |
Power contracts | 239 |  |  | 434 |
Unamortized investments, net of accumulated amortization 1 | 114 |  |  | 119 |
Unamortized loss on reacquired debt | 133 |  |  | 142 |
Regulatory balancing and memorandum accounts | 1,794 |  |  | 981 |
Environmental remediation | 247 |  |  | 237 |
Other | 106 |  |  | 62 |
Total long-term | 7,120 |  |  | 6,088 |
Total regulatory assets | $ | 8,434 |  |  | $ | 7,097 |
1 Relates to a regulatory asset that earns a rate of return. See below for further information.
Regulatory Liabilities Included on the Consolidated Balance Sheets | SCE's regulatory liabilities included on the consolidated balance sheets are:
| December 31,
(in millions) | 2020 |  | 2019
Current: |  |  |
Regulatory balancing and memorandum accounts | $ | 471 |  |  | $ | 883 |
Energy derivatives | 87 |  |  | 80 |
Other | 11 |  |  | 9 |
Total current | 569 |  |  | 972 |
Long-term: |  |  |
Costs of removal | 2,595 |  |  | 2,674 |
Re-measurement of deferred taxes | 2,283 |  |  | 2,424 |
Recoveries in excess of ARO liabilities | 1,930 |  |  | 1,569 |
Regulatory balancing and memorandum accounts | 1,062 |  |  | 1,261 |
Other postretirement benefits | 671 |  |  | 416 |
Other | 48 |  |  | 41 |
Total long-term | 8,589 |  |  | 8,385 |
Total regulatory liabilities | $ | 9,158 |  |  | $ | 9,357 |
Schedule of Regulatory Balancing Accounts | The following table summarizes the significant components of regulatory balancing and memorandum accounts included in the above tables of regulatory assets and liabilities:
| December 31,
(in millions) | 2020 |  | 2019
Asset (liability) |  |  |
Energy resource recovery account | $ | (89) |  |  | $ | (23) |
Portfolio allocation balancing account | 497 |  |  | 537 |
New system generation balancing account | (10) |  |  | 85 |
Public purpose programs and energy efficiency programs | (1,130) |  |  | (1,244) |
Base revenue requirement balancing account | 622 |  |  | (328) |
Greenhouse gas auction revenue and low carbon fuel standard revenue | (125) |  |  | (196) |
FERC balancing accounts | 12 |  |  | (127) |
Wildfire and drought restoration accounts 1 | 361 |  |  | 120 |
Wildfire-related memorandum accounts 2 | 1,104 |  |  | 748 |
COVID-19-related memorandum accounts 3 | 176 |  |  | — |
Other | (30) |  |  | 63 |
Asset (Liability) | $ | 1,388 |  |  | $ | (365) |
1 The wildfire and drought restoration accounts regulatory assets represent restorative costs that are recorded in a Catastrophic Event Memorandum Account ("CEMA"). 2 The wildfire-related memorandum accounts regulatory assets represent wildfire-related costs that are probable of future recovery from customers, subject to a reasonableness review. The Fire Hazard Prevention Memorandum Account ("FHPMA") is used to track costs related to fire safety and to implement fire prevention corrective action measures in extreme and very high fire threat areas. The Wildfire Expense Memorandum Account ("WEMA") is used to track incremental wildfire insurance costs and uninsured wildfire-related financing, legal and claims costs. During 2019, the CPUC approved a Wildfire Mitigation Plan memorandum account to track costs incurred to implement SCE's Wildfire Mitigation Plan that are not currently reflected in SCE's revenue requirements, a Grid Safety and Resiliency Program Memorandum Account ("GSRPMA") to track the costs of SCE's GS&RP that are incremental to costs approved for recovery in SCE's 2018 GRC and a fire risk mitigation memorandum account to track costs related to the reduction of fire risk that are incremental to costs approved for recovery in SCE's 2018 GRC that are not tracked in any other wildfire-related memorandum account. 3 In July 2020, the CPUC approved establishment of the COVID-19 Pandemic Protection Memorandum Account ("CPPMA"), to track incremental consumer protection costs for residential and small commercial customers. A CEMA is used to track other incremental COVID-19 costs, including costs of sequestering employees at essential work locations. Both memorandum accounts were effective beginning March 2020.

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- Definition Tabular disclosure of assets that are created when regulatory agencies permit public utilities to defer certain costs included in rate-setting to the balance sheet. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 980 -SubTopic 340 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6499975&loc=d3e44250-110382 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 980 -SubTopic 715 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6501251&loc=d3e52485-110419 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 980 -SubTopic 340 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6499975&loc=d3e44264-110382 + Details
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- Definition Tabular disclosure of regulatory liabilities. Detailed information about liabilities that result from rate actions of a regulator. Rate actions of a regulator can impose a liability on a regulated enterprise resulting in a regulatory liability. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 980 -SubTopic 405 -Section 25 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6500807&loc=d3e48068-110394 + Details
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