Company: SCE-PL
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000827052-25-000043
Chunk: 21

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-04-29
Form: 10-Q
Item: Part I, Item 8
Chunk 21
---
 fair value of these derivative contracts and any related collateral were immaterial as of March 31, 2025 and December 31, 2024.SCE presents its derivative assets and liabilities, recorded at fair value, on a net basis on its condensed consolidated balance sheets when subject to master netting agreements or similar agreements. Derivative positions are also offset against margin and cash collateral deposits. See Note 4 for a discussion of fair value of derivative instruments. The following table summarizes the gross and net fair values of SCE's commodity derivative instruments:March 31, 2025(in millions)Derivative AssetsShort-Term1Derivative LiabilitiesShort-Term2Commodity derivative contractsGross amounts recognized$164 $22 Gross amounts offset in the condensed consolidated balance sheets(9)(9)Cash collateral posted— (13)Net amounts presented in the condensed consolidated balance sheets$155 $— December 31, 2024(in millions)Derivative AssetsShort-Term1Derivative LiabilitiesShort-Term2Commodity derivative contractsGross amounts recognized$213 $47 Gross amounts offset in the condensed consolidated balance sheets(1)(1)Cash collateral posted— (46)Net amounts presented in the condensed consolidated balance sheets$212 $— 1Included in "Other current assets" on SCE's condensed consolidated balance sheets.2Included in "Other current liabilities" on SCE's condensed consolidated balance sheets.At March 31, 2025, SCE posted $43 million of cash collateral, of which $13 million was offset against derivative liabilities and $30 million was reflected in "Other current assets" on SCE's condensed consolidated balance sheets. At December 31, 2024, SCE posted $74 million of cash collateral, of which $46 million was offset against derivative liabilities and $28 million was reflected in "Other current assets" on the condensed consolidated balance sheets. Financial Statement Impact of Derivative InstrumentsSCE recognizes realized gains and losses on derivative instruments as purchased power expense and unrealized gains and losses as regulatory assets or liabilities. Both realized and unrealized gains and losses are expected to be refunded to or recovered from customers and therefore do not affect earnings. Cash flows from derivative activities, including cash collateral, are reported in cash flows from operating activities in SCE's condensed consolidated statements of cash flows.The following table summarizes the gains/(losses) of SCE's economic hedging activity:Three months ended March 31,(in millions)20252024Realized$(40)$(