10-Q - Edison International

The following table sets forth assets and liabilities that were accounted for at fair value by level within the fair valuehierarchy:March 31, 2012(in millions) Level 1 Level 2 Level 3Assets at Fair ValueNetting andCollateral 1Money market funds 2 $ 30 $ — $ — $ — $ 30Derivative contracts:Electricity — — 2 — 2Natural gas — 4 — (4) —CRRs — — 101 101Tolling — — 13 — 13Subtotal of derivative contracts — 4 116 (4) 116Long-term disability plan 8 — — — 8Nuclear decommissioning trusts:Stocks 3 2,124 — — — 2,124Municipal bonds — 696 — — 696U.S. government and agency securities 481 161 — — 642Corporate bonds 4 — 369 — — 369Short-term investments, primarily cashequivalents 5 2 34 — — 36Subtotal of nuclear decommissioning trusts 2,607 1,260 — — 3,867Total assets 6 2,645 1,264 116 (4) 4,021Liabilities at Fair ValueDerivative contracts:Electricity — 3 83 (4) 82Natural gas — 258 48 (81) 225Tolling — — 1,082 — 1,082Subtotal of derivative contracts — 261 1,213 (85) 1,389Total liabilities — 261 1,213 (85) 1,389Net assets (liabilities) $ 2,645 $ 1,003 $ (1,097) $ 81 $ 2,632Total8