DOCUMENT AND ENTITY INFORMATION
DOCUMENT AND ENTITY INFORMATION - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Feb. 21, 2019 | Jun. 30, 2018 | |
Document And Entity Information [Line Items] | |||
Entity Registrant Name | SEMPRA ENERGY | ||
Entity Central Index Key | 1,032,208 | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2018 | ||
Amendment Flag | false | ||
Document Fiscal Year Focus | 2,018 | ||
Document Fiscal Period Focus | FY | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Common Stock, Shares Outstanding | 274,039,296 | ||
Entity Public Float | $ 31,500 | ||
Trading Symbol | SRE | ||
Entity Emerging Growth Company | false | ||
Entity Small Business | false | ||
Entity Shell Company | false | ||
San Diego Gas and Electric Company [Member] | |||
Document And Entity Information [Line Items] | |||
Entity Public Float | 0 | ||
Southern California Gas Company [Member] | |||
Document And Entity Information [Line Items] | |||
Entity Public Float | $ 0 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands | 12 Months Ended | ||||
Dec. 31, 2018 | Dec. 31, 2017 | [1] | Dec. 31, 2016 | [1] | |
Revenues | |||||
Energy-related businesses | $ 1,641,000,000 | $ 1,431,000,000 | $ 922,000,000 | ||
Utilities | 10,046,000,000 | 9,776,000,000 | 9,261,000,000 | ||
Total revenues | 11,687,000,000 | 11,207,000,000 | 10,183,000,000 | ||
Operating expenses | |||||
Operation and maintenance | (3,309,000,000) | (3,096,000,000) | (2,976,000,000) | ||
Depreciation and amortization | (1,549,000,000) | (1,490,000,000) | (1,312,000,000) | ||
Franchise fees and other taxes | (472,000,000) | (436,000,000) | (426,000,000) | ||
Write-off of wildfire regulatory asset | 0 | (351,000,000) | 0 | ||
Impairment losses | (1,122,000,000) | (72,000,000) | (153,000,000) | ||
Gain on sale of assets | 524,000,000 | 3,000,000 | 134,000,000 | ||
Operating expenses | |||||
Impairment losses | 1,122,000,000 | 72,000,000 | 153,000,000 | ||
Write-off of wildfire regulatory asset | 0 | 351,000,000 | 0 | ||
Remeasurement of equity method investment | 0 | 0 | 617,000,000 | ||
Other income, net | 72,000,000 | 233,000,000 | 138,000,000 | ||
Interest income | 104,000,000 | 46,000,000 | 26,000,000 | ||
Interest expense | (925,000,000) | (659,000,000) | (553,000,000) | ||
Income before income taxes | 1,046,000,000 | 1,551,000,000 | 1,824,000,000 | ||
Income tax expense | (96,000,000) | (1,276,000,000) | (389,000,000) | ||
Equity earnings | 176,000,000 | 76,000,000 | 84,000,000 | ||
Net income | 1,126,000,000 | 351,000,000 | 1,519,000,000 | ||
(Earnings) losses attributable to noncontrolling interest | (76,000,000) | (94,000,000) | (148,000,000) | ||
Preferred stock dividends | (125,000,000) | 0 | 0 | ||
Preferred dividends of subsidiary | (1,000,000) | (1,000,000) | (1,000,000) | ||
Earnings attributable to common shares | $ 924,000,000 | $ 256,000,000 | $ 1,370,000,000 | ||
Earnings Per Share, Basic [Abstract] | |||||
Basic earnings per common share (in dollars per share) | $ 3.45 | $ 1.02 | $ 5.48 | ||
Weighted-average number of shares outstanding, basic (in shares) | 268,072 | 251,545 | 250,217 | ||
Earnings Per Share, Diluted [Abstract] | |||||
Diluted earnings per common share (in dollars per share) | $ 3.42 | $ 1.01 | $ 5.46 | ||
Weighted-average number of shares outstanding, diluted (in shares) | 269,852 | 252,300 | 251,155 | ||
San Diego Gas and Electric Company [Member] | |||||
Revenues | |||||
Electric | $ 4,003,000,000 | $ 3,935,000,000 | $ 3,754,000,000 | ||
Regulated Operating Revenue, Gas | 565,000,000 | 541,000,000 | 499,000,000 | ||
Utilities | 4,568,000,000 | 4,476,000,000 | 4,253,000,000 | ||
Operating expenses | |||||
Write-off of wildfire regulatory asset | 0 | (351,000,000) | 0 | ||
Operating expenses | |||||
Cost of electric fuel and purchased power | 1,370,000,000 | 1,293,000,000 | 1,187,000,000 | ||
Cost of natural gas | 152,000,000 | 164,000,000 | 127,000,000 | ||
Operation and maintenance | 1,058,000,000 | 1,024,000,000 | 1,062,000,000 | ||
Depreciation and amortization | 688,000,000 | 670,000,000 | 646,000,000 | ||
Franchise fees and other taxes | 290,000,000 | 265,000,000 | 255,000,000 | ||
Write-off of wildfire regulatory asset | 0 | 351,000,000 | 0 | ||
Total operating expenses | 3,558,000,000 | 3,767,000,000 | 3,277,000,000 | ||
Operating income | 1,010,000,000 | 709,000,000 | 976,000,000 | ||
Other income, net | 56,000,000 | 70,000,000 | 64,000,000 | ||
Interest income | 4,000,000 | 0 | 0 | ||
Interest expense | (221,000,000) | (203,000,000) | (195,000,000) | ||
Income before income taxes | 849,000,000 | 576,000,000 | 845,000,000 | ||
Income tax expense | (173,000,000) | (155,000,000) | (280,000,000) | ||
Net income | 676,000,000 | 421,000,000 | 565,000,000 | ||
(Earnings) losses attributable to noncontrolling interest | (7,000,000) | (14,000,000) | 5,000,000 | ||
Earnings attributable to common shares | 669,000,000 | 407,000,000 | 570,000,000 | ||
Southern California Gas Company [Member] | |||||
Revenues | |||||
Utilities | 3,962,000,000 | 3,785,000,000 | 3,471,000,000 | ||
Operating expenses | |||||
Impairment losses | 0 | 0 | (22,000,000) | ||
Operating expenses | |||||
Cost of natural gas | 1,048,000,000 | 1,025,000,000 | 891,000,000 | ||
Operation and maintenance | 1,613,000,000 | 1,474,000,000 | 1,391,000,000 | ||
Depreciation and amortization | 556,000,000 | 515,000,000 | 476,000,000 | ||
Franchise fees and other taxes | 154,000,000 | 144,000,000 | 140,000,000 | ||
Impairment losses | 0 | 0 | 22,000,000 | ||
Total operating expenses | 3,371,000,000 | 3,158,000,000 | 2,920,000,000 | ||
Operating income | 591,000,000 | 627,000,000 | 551,000,000 | ||
Other income, net | 15,000,000 | 31,000,000 | 38,000,000 | ||
Interest income | 2,000,000 | 1,000,000 | 1,000,000 | ||
Interest expense | (115,000,000) | (102,000,000) | (97,000,000) | ||
Income before income taxes | 493,000,000 | 557,000,000 | 493,000,000 | ||
Income tax expense | (92,000,000) | (160,000,000) | (143,000,000) | ||
Net income | 401,000,000 | 397,000,000 | 350,000,000 | ||
Preferred stock dividends | (1,000,000) | (1,000,000) | (1,000,000) | ||
Earnings attributable to common shares | 400,000,000 | 396,000,000 | 349,000,000 | ||
Cost of electric fuel and purchased power [Member] | |||||
Operating expenses | |||||
Operating expenses | (2,323,000,000) | (2,281,000,000) | (2,188,000,000) | ||
Cost of natural gas [Member] | |||||
Operating expenses | |||||
Operating expenses | (1,208,000,000) | (1,190,000,000) | (1,067,000,000) | ||
Cost of natural gas, electric fuel and purchased power [Member] | |||||
Operating expenses | |||||
Operating expenses | (355,000,000) | (339,000,000) | (277,000,000) | ||
Other cost of sales [Member] | |||||
Operating expenses | |||||
Operating expenses | $ (78,000,000) | $ (24,000,000) | $ (322,000,000) | ||
[1] | As adjusted for the retrospective adoption of ASU 2017-07, which we discuss in Note 2 , and a reclassification to conform to current year presentation, which we discuss in Note 1 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |||
Net income | $ 1,126 | $ 351 | [1] | $ 1,519 | [1] |
Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||||
Total other comprehensive (loss) income | (133) | 142 | 52 | ||
Preferred dividends of subsidiary | (1) | (1) | [1] | (1) | [1] |
Pretax amount [Member] | |||||
Net income | 1,146 | 1,533 | 1,760 | ||
Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||||
Foreign currency translation adjustments | (144) | 107 | 42 | ||
Financial instruments | 64 | 2 | (6) | ||
Pension and other postretirement benefits | (38) | 20 | (13) | ||
Total other comprehensive (loss) income | (118) | 129 | 23 | ||
Comprehensive income | 1,028 | 1,662 | 1,783 | ||
Preferred dividends of subsidiary | (1) | (1) | (1) | ||
Total comprehensive income, after preferred dividends of subsidiaries | 1,027 | 1,661 | 1,782 | ||
Income tax (expense) benefit [Member] | |||||
Net income | (96) | (1,276) | (389) | ||
Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||||
Foreign currency translation adjustments | 0 | 0 | 0 | ||
Financial instruments | (21) | 1 | 11 | ||
Pension and other postretirement benefits | 4 | (8) | 4 | ||
Total other comprehensive (loss) income | (17) | (7) | 15 | ||
Comprehensive income | (113) | (1,283) | (374) | ||
Preferred dividends of subsidiary | 0 | 0 | 0 | ||
Total comprehensive income, after preferred dividends of subsidiaries | (113) | (1,283) | (374) | ||
Net-of-tax amount [Member] | |||||
Net income | 1,050 | 257 | 1,371 | ||
Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||||
Foreign currency translation adjustments | (144) | 107 | 42 | ||
Financial instruments | 43 | 3 | 5 | ||
Pension and other postretirement benefits | (34) | 12 | (9) | ||
Total other comprehensive (loss) income | (135) | 122 | 38 | ||
Comprehensive income | 915 | 379 | 1,409 | ||
Preferred dividends of subsidiary | (1) | (1) | (1) | ||
Total comprehensive income, after preferred dividends of subsidiaries | 914 | 378 | 1,408 | ||
Noncontrolling interests (after-tax) [Member] | |||||
Net income | 76 | 94 | 148 | ||
Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||||
Foreign currency translation adjustments | (11) | 8 | (3) | ||
Financial instruments | 13 | 12 | 17 | ||
Pension and other postretirement benefits | 0 | 0 | 0 | ||
Total other comprehensive (loss) income | 2 | 20 | 14 | ||
Comprehensive income | 78 | 114 | 162 | ||
Preferred dividends of subsidiary | 0 | 0 | 0 | ||
Total comprehensive income, after preferred dividends of subsidiaries | 78 | 114 | 162 | ||
Total [Member] | |||||
Net income | 1,126 | 351 | 1,519 | ||
Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||||
Foreign currency translation adjustments | (155) | 115 | 39 | ||
Financial instruments | 56 | 15 | 22 | ||
Pension and other postretirement benefits | (34) | 12 | (9) | ||
Total other comprehensive (loss) income | (133) | 142 | 52 | ||
Comprehensive income | 993 | 493 | 1,571 | ||
Preferred dividends of subsidiary | (1) | (1) | (1) | ||
Total comprehensive income, after preferred dividends of subsidiaries | 992 | 492 | 1,570 | ||
San Diego Gas and Electric Company [Member] | |||||
Net income | 676 | 421 | [1] | 565 | [1] |
Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||||
Total other comprehensive (loss) income | 6 | 11 | 10 | ||
San Diego Gas and Electric Company [Member] | Pretax amount [Member] | |||||
Net income | 842 | 562 | 850 | ||
Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||||
Financial instruments | 0 | 0 | 0 | ||
Pension and other postretirement benefits | (2) | (1) | |||
Total other comprehensive (loss) income | (2) | (1) | 0 | ||
Comprehensive income | 840 | 561 | 850 | ||
San Diego Gas and Electric Company [Member] | Income tax (expense) benefit [Member] | |||||
Net income | (173) | (155) | (280) | ||
Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||||
Financial instruments | 0 | 0 | 0 | ||
Pension and other postretirement benefits | 0 | 1 | |||
Total other comprehensive (loss) income | 0 | 1 | 0 | ||
Comprehensive income | (173) | (154) | (280) | ||
San Diego Gas and Electric Company [Member] | Net-of-tax amount [Member] | |||||
Net income | 669 | 407 | 570 | ||
Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||||
Financial instruments | 0 | 0 | 0 | ||
Pension and other postretirement benefits | (2) | 0 | |||
Total other comprehensive (loss) income | (2) | 0 | 0 | ||
Comprehensive income | 667 | 407 | 570 | ||
San Diego Gas and Electric Company [Member] | Noncontrolling interests (after-tax) [Member] | |||||
Net income | 7 | 14 | (5) | ||
Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||||
Financial instruments | 8 | 11 | 10 | ||
Pension and other postretirement benefits | 0 | 0 | |||
Total other comprehensive (loss) income | 8 | 11 | 10 | ||
Comprehensive income | 15 | 25 | 5 | ||
San Diego Gas and Electric Company [Member] | Total [Member] | |||||
Net income | 676 | 421 | 565 | ||
Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||||
Financial instruments | 8 | 11 | 10 | ||
Pension and other postretirement benefits | (2) | 0 | |||
Total other comprehensive (loss) income | 6 | 11 | 10 | ||
Comprehensive income | 682 | 432 | 575 | ||
Southern California Gas Company [Member] | |||||
Net income | 401 | 397 | [1] | 350 | [1] |
Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||||
Total other comprehensive (loss) income | 1 | 1 | (3) | ||
Southern California Gas Company [Member] | Pretax amount [Member] | |||||
Net income | 493 | 557 | 493 | ||
Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||||
Financial instruments | 1 | 1 | |||
Pension and other postretirement benefits | 1 | (6) | |||
Total other comprehensive (loss) income | 1 | 1 | (5) | ||
Comprehensive income | 494 | 558 | 488 | ||
Southern California Gas Company [Member] | Income tax (expense) benefit [Member] | |||||
Net income | (92) | (160) | (143) | ||
Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||||
Financial instruments | 0 | 0 | |||
Pension and other postretirement benefits | 0 | 2 | |||
Total other comprehensive (loss) income | 0 | 0 | 2 | ||
Comprehensive income | (92) | (160) | (141) | ||
Southern California Gas Company [Member] | Net-of-tax amount [Member] | |||||
Net income | 401 | 397 | 350 | ||
Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||||
Financial instruments | 1 | 1 | |||
Pension and other postretirement benefits | 1 | (4) | |||
Total other comprehensive (loss) income | 1 | 1 | (3) | ||
Comprehensive income | $ 402 | $ 398 | $ 347 | ||
[1] | As adjusted for the retrospective adoption of ASU 2017-07, which we discuss in Note 2 , and a reclassification to conform to current year presentation, which we discuss in Note 1 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Current assets: | ||
Cash and cash equivalents | $ 190 | $ 288 |
Restricted cash | 35 | 62 |
Accounts receivable – trade, net | 1,488 | 1,307 |
Accounts receivable – other, net | 362 | 277 |
Due from unconsolidated affiliates | 39 | 37 |
Income taxes receivable | 68 | 110 |
Inventories | 296 | 307 |
Regulatory assets | 138 | 325 |
Greenhouse gas allowances | 59 | 299 |
Assets held for sale | 713 | 127 |
Other | 257 | 202 |
Total current assets | 3,645 | 3,341 |
Other assets: | ||
Restricted cash | 21 | 14 |
Due from unconsolidated affiliates | 688 | 598 |
Regulatory assets | 1,589 | 1,517 |
Nuclear decommissioning trusts | 974 | 1,033 |
Investment in Oncor Holdings | 9,652 | 0 |
Other investments | 2,337 | 2,527 |
Goodwill | 2,373 | 2,397 |
Other intangible assets | 272 | 596 |
Dedicated assets in support of certain benefit plans | 416 | 455 |
Insurance receivable for Aliso Canyon costs | 461 | 418 |
Deferred income taxes | 151 | 170 |
Greenhouse gas allowances | 289 | 93 |
Sundry | 974 | 792 |
Total other assets | 20,197 | 10,610 |
Property, plant and equipment: | ||
Property, plant and equipment | 49,315 | 48,108 |
Less accumulated depreciation and amortization | (12,519) | (11,605) |
Property, plant and equipment, net | 36,796 | 36,503 |
Total assets | 60,638 | 50,454 |
Liabilities, Current [Abstract] | ||
Short-term debt | 2,079 | 1,540 |
Accounts payable – trade | 1,324 | 1,350 |
Accounts payable – other | 150 | 173 |
Due to unconsolidated affiliates | 10 | 7 |
Dividends and interest payable | 499 | 342 |
Accrued compensation and benefits | 469 | 439 |
Regulatory liabilities | 105 | 109 |
Current portion of long-term debt | 1,673 | 1,427 |
Reserve for Aliso Canyon costs | 160 | 84 |
Greenhouse gas obligations | 59 | 299 |
Liabilities held for sale | 25 | 49 |
Other | 970 | 816 |
Total current liabilities | 7,523 | 6,635 |
Long-term debt | 21,611 | 16,445 |
Deferred Credits and Other Liabilities [Abstract] | ||
Due to unconsolidated affiliates | 37 | 35 |
Pension and other postretirement benefit plan obligations, net of plan assets | 1,161 | 1,148 |
Deferred income taxes | 2,571 | 2,767 |
Deferred investment tax credits | 24 | 28 |
Regulatory liabilities | 4,016 | 3,922 |
Asset retirement obligations | 2,787 | 2,732 |
Greenhouse gas obligations | 131 | 0 |
Deferred credits and other | 1,529 | 1,602 |
Total deferred credits and other liabilities | 12,256 | 12,234 |
Commitments and contingencies (Note 16) | ||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest [Abstract] | ||
Common stock | 5,540 | 3,149 |
Retained earnings | 10,104 | 10,147 |
Accumulated other comprehensive income (loss) | (764) | (626) |
Total shareholders’ equity | 17,138 | 12,670 |
Preferred stock of subsidiary | 20 | 20 |
Other noncontrolling interests | 2,090 | 2,450 |
Total equity | 19,248 | 15,140 |
Total liabilities and equity | 60,638 | 50,454 |
San Diego Gas and Electric Company [Member] | ||
Current assets: | ||
Cash and cash equivalents | 8 | 12 |
Restricted cash | 11 | 6 |
Accounts receivable – trade, net | 368 | 362 |
Accounts receivable – other, net | 106 | 79 |
Inventories | 102 | 105 |
Prepaid expenses | 74 | 58 |
Regulatory assets | 123 | 316 |
Fixed-price contracts and other derivatives | 82 | 42 |
Greenhouse gas allowances | 15 | 116 |
Other | 5 | 4 |
Total current assets | 894 | 1,100 |
Other assets: | ||
Restricted cash | 18 | 11 |
Regulatory assets | 454 | 451 |
Nuclear decommissioning trusts | 974 | 1,033 |
Greenhouse gas allowances | 155 | 83 |
Sundry | 420 | 328 |
Total other assets | 2,021 | 1,906 |
Property, plant and equipment: | ||
Property, plant and equipment | 21,662 | 19,787 |
Less accumulated depreciation and amortization | (5,352) | (4,949) |
Property, plant and equipment, net | 16,310 | 14,838 |
Total assets | 19,225 | 17,844 |
Liabilities, Current [Abstract] | ||
Short-term debt | 291 | 253 |
Accounts payable – trade | 439 | 501 |
Due to unconsolidated affiliates | 61 | 40 |
Accrued compensation and benefits | 117 | 122 |
Regulatory liabilities | 53 | 18 |
Accrued franchise fees | 64 | 59 |
Current portion of long-term debt | 81 | 220 |
Asset retirement obligations | 96 | 77 |
Customer deposits | 70 | 69 |
Greenhouse gas obligations | 15 | 116 |
Other | 141 | 147 |
Total current liabilities | 1,428 | 1,622 |
Long-term debt | 6,138 | 5,335 |
Deferred Credits and Other Liabilities [Abstract] | ||
Pension and other postretirement benefit plan obligations, net of plan assets | 212 | 182 |
Deferred income taxes | 1,616 | 1,530 |
Deferred investment tax credits | 16 | 18 |
Regulatory liabilities | 2,404 | 2,225 |
Asset retirement obligations | 778 | 762 |
Greenhouse gas obligations | 30 | 0 |
Deferred credits and other | 488 | 544 |
Total deferred credits and other liabilities | 5,544 | 5,261 |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest [Abstract] | ||
Preferred stock | 0 | 0 |
Common stock | 1,338 | 1,338 |
Retained earnings | 4,687 | 4,268 |
Accumulated other comprehensive income (loss) | (10) | (8) |
Total shareholders’ equity | 6,015 | 5,598 |
Other noncontrolling interests | 100 | 28 |
Total equity | 6,115 | 5,626 |
Total liabilities and equity | 19,225 | 17,844 |
Southern California Gas Company [Member] | ||
Current assets: | ||
Cash and cash equivalents | 18 | 8 |
Accounts receivable – trade, net | 634 | 517 |
Accounts receivable – other, net | 97 | 90 |
Due from unconsolidated affiliates | 7 | 4 |
Inventories | 134 | 124 |
Regulatory assets | 12 | 9 |
Greenhouse gas allowances | 37 | 179 |
Other | 31 | 48 |
Total current assets | 970 | 979 |
Other assets: | ||
Regulatory assets | 1,051 | 983 |
Insurance receivable for Aliso Canyon costs | 461 | 418 |
Greenhouse gas allowances | 116 | 9 |
Sundry | 352 | 364 |
Total other assets | 1,980 | 1,774 |
Property, plant and equipment: | ||
Property, plant and equipment | 18,138 | 16,772 |
Less accumulated depreciation and amortization | (5,699) | (5,366) |
Property, plant and equipment, net | 12,439 | 11,406 |
Total assets | 15,389 | 14,159 |
Liabilities, Current [Abstract] | ||
Short-term debt | 256 | 116 |
Accounts payable – trade | 556 | 502 |
Accounts payable – other | 93 | 93 |
Due to unconsolidated affiliates | 34 | 35 |
Accrued compensation and benefits | 159 | 151 |
Regulatory liabilities | 52 | 91 |
Current portion of long-term debt | 3 | 501 |
Asset retirement obligations | 90 | 68 |
Customer deposits | 101 | 89 |
Reserve for Aliso Canyon costs | 160 | 84 |
Greenhouse gas obligations | 37 | 179 |
Other | 217 | 137 |
Total current liabilities | 1,758 | 2,046 |
Long-term debt | 3,427 | 2,485 |
Deferred Credits and Other Liabilities [Abstract] | ||
Pension obligation, net of plan assets | 760 | 789 |
Deferred income taxes | 1,177 | 995 |
Deferred investment tax credits | 8 | 10 |
Regulatory liabilities | 1,612 | 1,697 |
Asset retirement obligations | 1,973 | 1,885 |
Greenhouse gas obligations | 86 | 0 |
Deferred credits and other | 330 | 345 |
Total deferred credits and other liabilities | 5,946 | 5,721 |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest [Abstract] | ||
Preferred stock | 22 | 22 |
Common stock | 866 | 866 |
Retained earnings | 3,390 | 3,040 |
Accumulated other comprehensive income (loss) | (20) | (21) |
Total shareholders’ equity | 4,258 | 3,907 |
Total equity | 4,258 | 3,907 |
Total liabilities and equity | 15,389 | 14,159 |
Series A Preferred Stock [Member] | ||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest [Abstract] | ||
Preferred stock | 1,693 | 0 |
Series B Preferred Stock [Member] | ||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest [Abstract] | ||
Preferred stock | $ 565 | $ 0 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Property, plant and equipment, net related to VIE | $ 295 | $ 321 |
Current portion of long-term debt | 1,673 | 1,427 |
Long-term debt, VIE | $ 190 | $ 284 |
Stockholders' Equity Attributable to Parent [Abstract] | ||
Preferred stock, shares authorized (in shares) | 50,000,000 | 50,000,000 |
Common stock, shares authorized (in shares) | 750,000,000 | 750,000,000 |
Common stock, shares outstanding (in shares) | 273,769,513 | 251,358,977 |
San Diego Gas and Electric Company [Member] | ||
Property, plant and equipment, net related to VIE | $ 295 | $ 321 |
Current portion of long-term debt | 81 | 220 |
Long-term debt, VIE | $ 190 | $ 284 |
Stockholders' Equity Attributable to Parent [Abstract] | ||
Preferred stock, shares authorized (in shares) | 45,000,000 | 45,000,000 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Common stock, shares authorized (in shares) | 255,000,000 | 255,000,000 |
Common stock, shares outstanding (in shares) | 117,000,000 | 117,000,000 |
Southern California Gas Company [Member] | ||
Current portion of long-term debt | $ 3 | $ 501 |
Stockholders' Equity Attributable to Parent [Abstract] | ||
Preferred stock, shares authorized (in shares) | 11,000,000 | 11,000,000 |
Preferred stock, shares outstanding (in shares) | 1,000,000 | 1,000,000 |
Common stock, shares authorized (in shares) | 100,000,000 | 100,000,000 |
Common stock, shares outstanding (in shares) | 91,000,000 | 91,000,000 |
Otay Mesa VIE [Member] | ||
Current portion of long-term debt | $ 28 | $ 10 |
Otay Mesa VIE [Member] | San Diego Gas and Electric Company [Member] | ||
Current portion of long-term debt | $ 28 | $ 10 |
Series A Preferred Stock [Member] | ||
Stockholders' Equity Attributable to Parent [Abstract] | ||
Preferred stock, shares outstanding (in shares) | 17,250,000 | |
Preferred stock, shares issued (in shares) | 17,250,000 | |
Series B Preferred Stock [Member] | ||
Stockholders' Equity Attributable to Parent [Abstract] | ||
Preferred stock, shares outstanding (in shares) | 5,750,000 | |
Preferred stock, shares issued (in shares) | 5,750,000 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS $ in Millions | 12 Months Ended | ||||
Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | |||
CASH FLOWS FROM OPERATING ACTIVITIES | |||||
Net income | $ 1,126 | $ 351 | [1] | $ 1,519 | [1] |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||
Depreciation and amortization | 1,549 | 1,490 | [1] | 1,312 | [1] |
Deferred income taxes and investment tax credits | (182) | 1,160 | 217 | ||
Write-off of wildfire regulatory asset | 0 | 351 | [1] | 0 | [1] |
Impairment losses | 1,122 | 72 | [1] | 153 | [1] |
Gain on sale of assets | (524) | (3) | (134) | ||
Remeasurement of equity method investment | 0 | 0 | (617) | ||
Equity earnings, net | (176) | (76) | (84) | ||
Share-based compensation expense | 83 | 82 | 52 | ||
Fixed-price contracts and other derivatives | (10) | 7 | 21 | ||
Other | 315 | 67 | 10 | ||
Net change in other working capital components | 173 | 57 | (59) | ||
Insurance receivable for Aliso Canyon costs | (43) | 188 | (281) | ||
Changes in other noncurrent assets and liabilities, net | 14 | (121) | 202 | ||
Changes in working capital components: | |||||
Accounts receivable | (144) | 17 | (42) | ||
Income taxes receivable, net | 83 | (70) | 3 | ||
Inventories | 23 | (49) | (20) | ||
Regulatory balancing accounts | 263 | 108 | 198 | ||
Other current assets | (81) | (12) | (41) | ||
Accounts payable | 92 | 83 | 122 | ||
Reserve for Aliso Canyon costs | 56 | 31 | (221) | ||
Other current liabilities | (119) | (51) | (58) | ||
Net cash provided by operating activities | 3,447 | 3,625 | 2,311 | ||
CASH FLOWS FROM INVESTING ACTIVITIES | |||||
Expenditures for property, plant and equipment | (3,784) | (3,949) | (4,214) | ||
Expenditures for investments and acquisitions, net of cash, cash equivalents and restricted cash acquired | (10,376) | (270) | (1,504) | ||
Proceeds from sale of assets, net of cash and restricted cash sold | 1,593 | 17 | 763 | ||
Distributions from investments | 10 | 26 | 25 | ||
Purchases of nuclear decommissioning trust assets | (890) | (1,314) | (1,034) | ||
Proceeds from sales by nuclear decommissioning trust assets | 890 | 1,314 | 1,134 | ||
Advances to unconsolidated affiliates | (102) | (531) | (25) | ||
Repayments of advances to unconsolidated affiliates | 71 | 9 | 11 | ||
Other | 31 | (2) | 9 | ||
Net cash used in investing activities | (12,557) | (4,700) | (4,835) | ||
CASH FLOWS FROM FINANCING ACTIVITIES | |||||
Common dividends paid | (877) | (755) | (686) | ||
Preferred dividends paid | (89) | 0 | 0 | ||
Preferred dividends paid by subsidiary | 1 | 1 | 1 | ||
Issuances of mandatory convertible preferred stock, net of $42 in offering costs in 2018 | 2,258 | 0 | 0 | ||
Issuances of common stock, net of $41 in offering costs in 2018 | 2,272 | 47 | 51 | ||
Repurchases of common stock | (21) | (15) | (56) | ||
Issuances of debt (maturities greater than 90 days) | 9,174 | 4,509 | 2,951 | ||
Payments on debt (maturities greater than 90 days) | (3,510) | (2,800) | (2,057) | ||
(Decrease) increase in short-term debt, net | (124) | (36) | 692 | ||
Advances from unconsolidated affiliates | 0 | 35 | 0 | ||
Proceeds from sale of noncontrolling interests, net of $1, $3 and $40 in offering costs, respectively | 90 | 196 | 1,692 | ||
Net distributions to noncontrolling interests | (43) | (130) | (63) | ||
Settlement of cross-currency swaps | (33) | 0 | 0 | ||
Other | (90) | (43) | (21) | ||
Net cash provided by financing activities | 9,006 | 1,007 | 2,502 | ||
Effect of exchange rate changes on cash, cash equivalents and restricted cash | (14) | 7 | (3) | ||
Decrease in cash, cash equivalents and restricted cash | (118) | (61) | (25) | ||
Cash, cash equivalents and restricted cash, January 1 | 364 | 425 | 450 | ||
Cash, cash equivalents and restricted cash, December 31 | 246 | 364 | 425 | ||
Cash and cash equivalents, January 1 | 288 | ||||
Cash and cash equivalents, December 31 | 190 | 288 | |||
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION | |||||
Interest payments, net of amounts capitalized | 812 | 619 | 532 | ||
Income tax payments (refunds), net | 174 | 172 | 160 | ||
Noncash acquisition of businesses: | |||||
Assets acquired, net of cash, cash equivalents and restricted cash | 9,921 | 436 | 3,808 | ||
Value of equity method investment immediately prior to acquisition | 0 | (28) | (1,144) | ||
Liabilities assumed | (145) | (261) | (1,322) | ||
Cash paid, net of cash, cash equivalents and restricted cash acquired | 9,776 | 147 | 1,342 | ||
Other Noncash Investing and Financing Items [Abstract] | |||||
Accrued capital expenditures | 459 | 562 | 626 | ||
Increase in capital lease obligations for investment in property, plant and equipment | 558 | 504 | 0 | ||
Accrued Merger-related transaction costs | 0 | 31 | 0 | ||
Equitization of note receivable due from unconsolidated affiliate | 0 | 19 | 0 | ||
Common dividends issued in stock | 54 | 53 | 53 | ||
San Diego Gas and Electric Company [Member] | |||||
CASH FLOWS FROM OPERATING ACTIVITIES | |||||
Net income | 676 | 421 | [1] | 565 | [1] |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||
Depreciation and amortization | 688 | 670 | [1] | 646 | [1] |
Deferred income taxes and investment tax credits | 39 | (10) | 258 | ||
Write-off of wildfire regulatory asset | 0 | 351 | [1] | 0 | [1] |
Fixed-price contracts and other derivatives | (3) | (2) | (3) | ||
Other | (14) | (22) | (35) | ||
Changes in other noncurrent assets and liabilities, net | 9 | (30) | (9) | ||
Changes in working capital components: | |||||
Accounts receivable | 30 | (76) | (31) | ||
Due to/from affiliates, net | (2) | (10) | (19) | ||
Inventories | 3 | (25) | (5) | ||
Regulatory balancing accounts | 138 | 56 | 35 | ||
Other current assets | (6) | 9 | 25 | ||
Income taxes | 23 | 136 | (115) | ||
Accounts payable | (1) | 75 | 39 | ||
Other current liabilities | 4 | 4 | (28) | ||
Net cash provided by operating activities | 1,584 | 1,547 | 1,323 | ||
CASH FLOWS FROM INVESTING ACTIVITIES | |||||
Expenditures for property, plant and equipment | (1,542) | (1,555) | (1,399) | ||
Purchases of nuclear decommissioning trust assets | (890) | (1,314) | (1,034) | ||
Proceeds from sales by nuclear decommissioning trusts | 890 | 1,314 | 1,134 | ||
Decrease (increase) in loans to affiliate, net | 0 | 31 | (31) | ||
Other | 0 | 9 | 6 | ||
Net cash used in investing activities | (1,542) | (1,515) | (1,324) | ||
CASH FLOWS FROM FINANCING ACTIVITIES | |||||
Common dividends paid | (250) | (450) | (175) | ||
Issuances of debt (maturities greater than 90 days) | 618 | 398 | 498 | ||
Payments on debt (maturities greater than 90 days) | (492) | (186) | (204) | ||
(Decrease) increase in short-term debt, net | 38 | 253 | (114) | ||
Net distributions to noncontrolling interests | 57 | (34) | (21) | ||
Debt issuance costs | (5) | (4) | (6) | ||
Net cash provided by financing activities | (34) | (23) | (22) | ||
Increase (decrease) in cash, cash equivalents and restricted cash | 8 | 9 | (23) | ||
Cash, cash equivalents and restricted cash, January 1 | 29 | 20 | 43 | ||
Cash, cash equivalents and restricted cash, December 31 | 37 | 29 | 20 | ||
Cash and cash equivalents, January 1 | 12 | ||||
Cash and cash equivalents, December 31 | 8 | 12 | |||
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION | |||||
Interest payments, net of amounts capitalized | 214 | 195 | 187 | ||
Income tax payments (refunds), net | 112 | 27 | 137 | ||
Other Noncash Investing and Financing Items [Abstract] | |||||
Accrued capital expenditures | 159 | 217 | 227 | ||
Increase in capital lease obligations for investment in property, plant and equipment | 550 | 500 | 0 | ||
Southern California Gas Company [Member] | |||||
CASH FLOWS FROM OPERATING ACTIVITIES | |||||
Net income | 401 | 397 | [1] | 350 | [1] |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||
Depreciation and amortization | 556 | 515 | [1] | 476 | [1] |
Deferred income taxes and investment tax credits | 78 | 137 | 103 | ||
Impairment losses | 0 | 0 | [1] | 22 | [1] |
Other | (7) | 11 | (26) | ||
Insurance receivable for Aliso Canyon costs | (43) | 188 | (281) | ||
Changes in other noncurrent assets and liabilities, net | (144) | (93) | 42 | ||
Changes in working capital components: | |||||
Accounts receivable | (87) | 72 | 37 | ||
Due to/from affiliates, net | (10) | 7 | 6 | ||
Inventories | (2) | (66) | 4 | ||
Regulatory balancing accounts | 125 | 53 | 163 | ||
Other current assets | 11 | 0 | (13) | ||
Income taxes | 14 | (5) | (2) | ||
Accounts payable | 71 | 39 | 36 | ||
Reserve for Aliso Canyon costs | 56 | 31 | (221) | ||
Other current liabilities | (6) | 20 | (25) | ||
Net cash provided by operating activities | 1,013 | 1,306 | 671 | ||
CASH FLOWS FROM INVESTING ACTIVITIES | |||||
Expenditures for property, plant and equipment | (1,538) | (1,367) | (1,319) | ||
Decrease (increase) in loans to affiliate, net | 0 | 0 | 50 | ||
Other | 7 | 4 | 0 | ||
Net cash used in investing activities | (1,531) | (1,363) | (1,269) | ||
CASH FLOWS FROM FINANCING ACTIVITIES | |||||
Common dividends paid | (50) | 0 | 0 | ||
Preferred dividends paid | (1) | (1) | (1) | ||
Issuances of debt (maturities greater than 90 days) | 949 | 0 | 499 | ||
Payments on debt (maturities greater than 90 days) | (500) | 0 | (3) | ||
(Decrease) increase in short-term debt, net | 140 | 54 | 62 | ||
Debt issuance costs | (10) | 0 | (5) | ||
Net cash provided by financing activities | 528 | 53 | 552 | ||
Increase (decrease) in cash and cash equivalents | 10 | (4) | (46) | ||
Cash and cash equivalents, January 1 | 8 | 12 | 58 | ||
Cash and cash equivalents, December 31 | 18 | 8 | 12 | ||
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION | |||||
Interest payments, net of amounts capitalized | 105 | 97 | 92 | ||
Income tax payments (refunds), net | 0 | 28 | 41 | ||
Other Noncash Investing and Financing Items [Abstract] | |||||
Accrued capital expenditures | 191 | 208 | 207 | ||
Preferred Stock [Member] | |||||
Other Noncash Investing and Financing Items [Abstract] | |||||
Dividends declared but not paid | 36 | 0 | 0 | ||
Common Stock [Member] | |||||
Other Noncash Investing and Financing Items [Abstract] | |||||
Dividends declared but not paid | 245 | 207 | 189 | ||
Non-controlling interests [Member] | |||||
CASH FLOWS FROM OPERATING ACTIVITIES | |||||
Net income | 76 | 94 | 148 | ||
Other Noncash Investing and Financing Items [Abstract] | |||||
Dividends declared but not paid | 8 | 7 | 7 | ||
Non-controlling interests [Member] | San Diego Gas and Electric Company [Member] | |||||
CASH FLOWS FROM OPERATING ACTIVITIES | |||||
Net income | $ 7 | $ 14 | $ (5) | ||
[1] | As adjusted for the retrospective adoption of ASU 2017-07, which we discuss in Note 2 , and a reclassification to conform to current year presentation, which we discuss in Note 1 |
CONSOLIDATED STATEMENTS OF CA_2
CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Offering costs from sale of noncontrolling interests | $ 1 | $ 3 | $ 40 |
Preferred Stock [Member] | |||
Payment of stock issuance costs | 42 | ||
Common Stock [Member] | |||
Payment of stock issuance costs | $ 41 |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Millions | Total | Preferred Stock [Member] | Common Stock [Member] | Retained earnings [Member] | Accumulated other comprehensive income (loss) [Member] | Shareholders' equity [Member] | Non-controlling interests [Member] | San Diego Gas and Electric Company [Member] | San Diego Gas and Electric Company [Member]Common Stock [Member] | San Diego Gas and Electric Company [Member]Retained earnings [Member] | San Diego Gas and Electric Company [Member]Accumulated other comprehensive income (loss) [Member] | San Diego Gas and Electric Company [Member]Shareholders' equity [Member] | San Diego Gas and Electric Company [Member]Non-controlling interests [Member] | Southern California Gas Company [Member] | Southern California Gas Company [Member]Preferred Stock [Member] | Southern California Gas Company [Member]Common Stock [Member] | Southern California Gas Company [Member]Retained earnings [Member] | Southern California Gas Company [Member]Accumulated other comprehensive income (loss) [Member] | Preferred Class A [Member] | Preferred Class A [Member]Preferred Stock [Member] | Preferred Class A [Member]Retained earnings [Member] | Preferred Class A [Member]Shareholders' equity [Member] | Preferred Class B [Member] | Preferred Class B [Member]Preferred Stock [Member] | Preferred Class B [Member]Retained earnings [Member] | Preferred Class B [Member]Shareholders' equity [Member] | |||
Cumulative-effect adjustment from change in accounting priniciple | $ 107 | $ 107 | $ 107 | $ 23 | $ 23 | $ 23 | $ 15 | $ 15 | |||||||||||||||||||||
Beginning Balance at Dec. 31, 2015 | 12,579 | $ 0 | $ 2,621 | 9,994 | $ (806) | 11,809 | $ 770 | 5,276 | $ 1,338 | 3,893 | $ (8) | 5,223 | $ 53 | 3,149 | $ 22 | $ 866 | 2,280 | $ (19) | |||||||||||
Net income | 1,519 | [1] | 1,371 | 1,371 | 148 | 565 | [1] | 570 | 570 | (5) | 350 | [1] | 350 | ||||||||||||||||
Other comprehensive (loss) income | 52 | 38 | 38 | 14 | 10 | 10 | (3) | (3) | |||||||||||||||||||||
Share-based compensation expense | 52 | 52 | 52 | ||||||||||||||||||||||||||
Preferred stock dividends declared | (1) | (1) | |||||||||||||||||||||||||||
Common stock dividends declared | (754) | (754) | (754) | (175) | (175) | (175) | |||||||||||||||||||||||
Preferred dividends of subsidiary | (1) | [1] | (1) | (1) | |||||||||||||||||||||||||
Issuances of stock | 104 | 104 | 104 | ||||||||||||||||||||||||||
Repurchases of common stock | (56) | (56) | (56) | ||||||||||||||||||||||||||
Equity contributed by noncontrolling interests | 3 | 3 | 2 | 2 | |||||||||||||||||||||||||
Distributions | (65) | (65) | (23) | (23) | |||||||||||||||||||||||||
Sale of noncontrolling interests, net of offering costs | 1,701 | 261 | 20 | 281 | 1,420 | ||||||||||||||||||||||||
Ending balance at Dec. 31, 2016 | 15,241 | 0 | 2,982 | 10,717 | (748) | 12,951 | 2,290 | 5,678 | 1,338 | 4,311 | (8) | 5,641 | 37 | 3,510 | 22 | 866 | 2,644 | (22) | |||||||||||
Net income | 351 | [1] | 257 | 257 | 94 | 421 | [1] | 407 | 407 | 14 | 397 | [1] | 397 | ||||||||||||||||
Other comprehensive (loss) income | 142 | 122 | 122 | 20 | 11 | 11 | 1 | 1 | |||||||||||||||||||||
Share-based compensation expense | 82 | 82 | 82 | ||||||||||||||||||||||||||
Preferred stock dividends declared | (1) | (1) | |||||||||||||||||||||||||||
Common stock dividends declared | (826) | (826) | (826) | (450) | (450) | (450) | |||||||||||||||||||||||
Preferred dividends of subsidiary | (1) | [1] | (1) | (1) | |||||||||||||||||||||||||
Issuances of stock | 100 | 100 | 100 | ||||||||||||||||||||||||||
Repurchases of common stock | (15) | (15) | (15) | ||||||||||||||||||||||||||
Equity contributed by noncontrolling interests | 2 | 2 | 1 | 1 | |||||||||||||||||||||||||
Distributions | (132) | (132) | (35) | (35) | |||||||||||||||||||||||||
Sale of noncontrolling interests, net of offering costs | 196 | 196 | |||||||||||||||||||||||||||
Ending balance at Dec. 31, 2017 | 15,140 | 0 | 3,149 | 10,147 | (626) | 12,670 | 2,470 | 5,626 | 1,338 | 4,268 | (8) | 5,598 | 28 | 3,907 | 22 | 866 | 3,040 | (21) | |||||||||||
Cumulative-effect adjustment from change in accounting priniciple | (1) | 2 | (3) | (1) | |||||||||||||||||||||||||
Net income | 1,126 | 1,050 | 1,050 | 76 | 676 | 669 | 669 | 7 | 401 | 401 | |||||||||||||||||||
Other comprehensive (loss) income | (133) | (135) | (135) | 2 | 6 | (2) | (2) | 8 | 1 | 1 | |||||||||||||||||||
Share-based compensation expense | 83 | 83 | 83 | ||||||||||||||||||||||||||
Preferred stock dividends declared | (1) | (1) | $ (105) | $ (105) | $ (105) | $ (20) | $ (20) | $ (20) | |||||||||||||||||||||
Common stock dividends declared | (969) | (969) | (969) | (250) | (250) | (250) | (50) | (50) | |||||||||||||||||||||
Preferred dividends of subsidiary | (1) | (1) | (1) | ||||||||||||||||||||||||||
Issuances of stock | 2,326 | 2,326 | 2,326 | $ 1,693 | $ 1,693 | $ 1,693 | $ 565 | $ 565 | $ 565 | ||||||||||||||||||||
Repurchases of common stock | (21) | (21) | (21) | ||||||||||||||||||||||||||
Equity contributed by noncontrolling interests | 66 | 66 | 65 | 65 | |||||||||||||||||||||||||
Distributions | (110) | (110) | (8) | (8) | |||||||||||||||||||||||||
Purchases of noncontrolling interests | (8) | (1) | (1) | (7) | |||||||||||||||||||||||||
Sale of noncontrolling interests, net of offering costs | 90 | 4 | 4 | 86 | |||||||||||||||||||||||||
Increase from acquisition from noncontrolling interests | 13 | 13 | |||||||||||||||||||||||||||
Decrease from divestiture from noncontrolling interests | (486) | (486) | |||||||||||||||||||||||||||
Ending balance at Dec. 31, 2018 | $ 19,248 | $ 2,258 | $ 5,540 | $ 10,104 | $ (764) | $ 17,138 | $ 2,110 | $ 6,115 | $ 1,338 | $ 4,687 | $ (10) | $ 6,015 | $ 100 | $ 4,258 | $ 22 | $ 866 | $ 3,390 | $ (20) | |||||||||||
[1] | As adjusted for the retrospective adoption of ASU 2017-07, which we discuss in Note 2 , and a reclassification to conform to current year presentation, which we discuss in Note 1 |
CONSOLIDATED STATEMENTS OF CH_2
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical) - $ / shares | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Common stock dividends declared (USD per share) | $ 3.58 | $ 3.29 | $ 3.02 |
Preferred Class A [Member] | |||
Preferred stock, dividends declared per share (USD per share) | 6.10 | ||
Preferred Class B [Member] | |||
Preferred stock, dividends declared per share (USD per share) | 3.41 | ||
Southern California Gas Company [Member] | |||
Common stock dividends declared (USD per share) | 1.50 | 1.50 | 1.50 |
Preferred stock, dividends declared per share (USD per share) | 0.55 | ||
San Diego Gas and Electric Company [Member] | |||
Common stock dividends declared (USD per share) | $ 2.14 | $ 3.86 | $ 1.50 |
SIGNIFICANT ACCOUNTING POLICIES
SIGNIFICANT ACCOUNTING POLICIES AND OTHER FINANCIAL DATA | 12 Months Ended |
Dec. 31, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Significant Accounting Policies And Other Financial Data | SIGNIFICANT ACCOUNTING POLICIES AND OTHER FINANCIAL DATAPRINCIPLES OF CONSOLIDATION Sempra Energy Sempra Energy’s Consolidated Financial Statements include the accounts of Sempra Energy, a California-based Fortune 500 energy-services holding company, and its consolidated subsidiaries and VIEs. Sempra Global is the holding company for most of our subsidiaries that are not subject to California or Texas utility regulation. Sempra Energy’s businesses are managed within seven separate reportable segments, which we discuss in Note 17 . All references in these Notes to our reportable segments are not intended to refer to any legal entity with the same or similar name. Our Sempra Mexico segment includes the operating companies of our subsidiary, IEnova, as well as certain holding companies and risk management activity. IEnova is a separate legal entity comprised of Sempra Energy’s operations in Mexico. IEnova is included within our Sempra Mexico reportable segment, but is not the same in its entirety as the reportable segment. IEnova’s financial results are reported in Mexico under International Financial Reporting Standards, as required by the Mexican Stock Exchange, where its shares are traded under the symbol IENOVA. Sempra Energy uses the equity method to account for investments in companies over which we have the ability to exercise significant influence, but not control. We discuss our investments in unconsolidated entities in Notes 5 , 6 and 12 . SDG&E SDG&E’s Consolidated Financial Statements include its accounts and the accounts of a VIE of which SDG&E is the primary beneficiary, as we discuss below in “Variable Interest Entities.” SDG&E’s common stock is wholly owned by Enova, which is a wholly owned subsidiary of Sempra Energy. SoCalGas SoCalGas’ common stock is wholly owned by PE, which is a wholly owned subsidiary of Sempra Energy. In this report, we refer to SDG&E and SoCalGas collectively as the California Utilities. BASIS OF PRESENTATION This is a combined report of Sempra Energy, SDG&E and SoCalGas. We provide separate information for SDG&E and SoCalGas as required. References in this report to “we,” “our” and “Sempra Energy Consolidated” are to Sempra Energy and its consolidated entities, unless otherwise indicated by the context. We have eliminated intercompany accounts and transactions within the consolidated financial statements of each reporting entity. Throughout this report, we refer to the following as Consolidated Financial Statements and Notes to Consolidated Financial Statements when discussed together or collectively: ▪ the Consolidated Financial Statements and related Notes of Sempra Energy and its subsidiaries and VIEs; ▪ the Consolidated Financial Statements and related Notes of SDG&E and its VIE; and ▪ the Financial Statements and related Notes of SoCalGas. Reclassification on the Consolidated Statements of Operations We have made a reclassification on the Consolidated Statements of Operations for the years ended December 31, 2017 and 2016 to conform to current year presentation. Line item captions for equity earnings (losses) before income tax and net of income tax have been combined into one line and presented after income tax expense (benefit). This reclassification is intended to treat the presentation of earnings from all equity method investees consistently and simplify the presentation on the statement of operations, while continuing to provide additional detail in the notes to the financial statements. We discuss our equity method investments further in Note 6 . The following table summarizes the financial statement line items that were affected by this reclassification: SEMPRA ENERGY – RECLASSIFICATION (Dollars in millions) Years ended December 31, 2017 2016 As previously presented As currently presented As previously presented As currently presented Consolidated Statements of Operations: Equity earnings, before income tax $ 34 $ — $ 6 $ — Income before income taxes and equity earnings of certain unconsolidated subsidiaries 1,585 — 1,830 — Income before income taxes and equity earnings of unconsolidated entities — 1,551 — 1,824 Equity earnings, net of income tax 42 — 78 — Equity earnings — 76 — 84 Use of Estimates in the Preparation of the Financial Statements We have prepared our Consolidated Financial Statements in conformity with U.S. GAAP. This requires us to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes, including the disclosure of contingent assets and liabilities at the date of the financial statements. Although we believe the estimates and assumptions are reasonable, actual amounts ultimately may differ significantly from those estimates. Subsequent Events We evaluated events and transactions that occurred after December 31, 2018 The California Utilities’ accounting policies and financial statements reflect the application of U.S. GAAP provisions governing rate-regulated operations and the policies of the CPUC and the FERC. Under these provisions, a regulated utility records regulatory assets, which are generally costs that would otherwise be charged to expense, if it is probable that, through the ratemaking process, the utility will recover those assets from customers. To the extent that recovery is no longer probable, the related regulatory assets are written off. Regulatory liabilities generally represent amounts collected from customers in advance of the actual expenditure by the utility. If the actual expenditures are less than amounts previously collected from ratepayers, the excess would be refunded to customers, generally by reducing future rates. Regulatory liabilities may also arise from other transactions such as unrealized gains on fixed price contracts and other derivatives or certain deferred income tax benefits that are passed through to customers in future rates. In addition, the California Utilities record regulatory liabilities when the CPUC or the FERC requires a refund to be made to customers or has required that a gain or other transaction of net allowable costs be given to customers over future periods. Determining probability of recovery of regulatory assets requires significant judgment by management and may include, but is not limited to, consideration of: ▪ the nature of the event giving rise to the assessment; ▪ existing statutes and regulatory code; ▪ legal precedents; ▪ regulatory principles and analogous regulatory actions; ▪ testimony presented in regulatory hearings; ▪ regulatory orders; ▪ a commission-authorized mechanism established for the accumulation of costs; ▪ status of applications for rehearings or state court appeals; ▪ specific approval from a commission; and ▪ historical experience . Sempra Mexico’s natural gas distribution utility, Ecogas, also applies U.S. GAAP for rate-regulated utilities to its operations, including the same evaluation of probability of recovery of regulatory assets described above. We provide information concerning regulatory assets and liabilities in Note 4 . Our Sempra Texas Utility segment is comprised of our equity method investment in Oncor Holdings, which owns 80.25 percent of Oncor, as we discuss in Notes 5 and 6 . Oncor is a regulated electric transmission and distribution utility in the State of Texas. Oncor’s rates are regulated by the PUCT and certain cities and are subject to regulatory rate-setting processes and annual earnings oversight. Oncor prepares its financial statements in accordance with the provisions of U.S. GAAP governing rate-regulated operations. Sempra South American Utilities has controlling interests in two electric distribution utilities in South America, Chilquinta Energía in Chile and Luz del Sur in Peru, and their subsidiaries. Revenues are based on tariffs that are set by government agencies in their respective countries based on an efficient model distribution company defined by those agencies. Because the tariffs are based on a model and are intended to cover the costs of the model company, but are not based on the costs of the specific utility and may not result in full cost recovery, these utilities do not meet the requirements necessary for, and therefore do not apply, regulatory accounting treatment under U.S. GAAP. We measure certain assets and liabilities at fair value on a recurring basis, primarily nuclear decommissioning and benefit plan trust assets and derivatives. We also measure certain assets at fair value on a non-recurring basis in certain circumstances. These assets can include goodwill, intangible assets, equity method investments and other long-lived assets. “Fair value” is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). A fair value measurement reflects the assumptions market participants would use in pricing an asset or liability based on the best available information. These assumptions include the risk inherent in a particular valuation technique (such as a pricing model) and the risks inherent in the inputs to the model. Also, we consider an issuer’s credit standing when measuring its liabilities at fair value. We establish a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurement) and the lowest priority to unobservable inputs (Level 3 measurement). The three levels of the fair value hierarchy are as follows: Level 1 – Pricing inputs are unadjusted quoted prices available in active markets for identical assets or liabilities as of the reporting date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Our Level 1 financial instruments primarily consist of listed equities and U.S. government treasury securities, primarily in the NDT and benefit plan trusts, and exchange-traded derivatives. Level 2 – Pricing inputs are other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date. Level 2 includes those financial instruments that are valued using models or other valuation methodologies. These models are primarily industry-standard models that consider various assumptions, including: ▪ quoted forward prices for commodities; ▪ time value; ▪ current market and contractual prices for the underlying instruments; ▪ volatility factors; and ▪ other relevant economic measures. Substantially all of these assumptions are observable in the marketplace throughout the full term of the instrument, can be derived from observable data or are supported by observable levels at which transactions are executed in the marketplace. Our financial instruments in this category include listed equities, domestic corporate bonds, municipal bonds and other foreign bonds, primarily in the NDT and benefit plan trusts, and non-exchange-traded derivatives such as interest rate instruments and over-the-counter forwards and options. Level 3 Cash equivalents are highly liquid investments with original maturities of three months or less at the date of purchase. RESTRICTED CASH Restricted cash at Sempra Energy was $56 million and $76 million at December 31, 2018 and 2017 , respectively, and includes: ▪ for SDG&E, $29 million and $17 million at December 31, 2018 and 2017 , respectively, representing funds held by a trustee for Otay Mesa VIE to pay certain operating costs; ▪ for Sempra Mexico, $27 million and $56 million at December 31, 2018 and 2017 , respectively, primarily denominated in Mexican pesos, representing funds to pay for rights-of-way, license fees, permits, topographic surveys and other costs pursuant to trust and debt agreements related to pipeline projects; ▪ for Sempra Renewables, $3 million at December 31, 2017 , primarily representing funds held in accordance with debt agreements at our wholly owned solar project, which was sold along with certain other non-utility U.S. renewable assets in December 2018. We discuss the sale in Note 5 ; and ▪ for Sempra South American Utilities, negligible amounts at both December 31, 2018 and 2017 . The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported on the Consolidated Balance Sheets to the sum of such amounts reported on the Consolidated Statements of Cash Flows. RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH (Dollars in millions) At December 31, 2018 2017 Sempra Energy Consolidated: Cash and cash equivalents $ 190 $ 288 Restricted cash, current 35 62 Restricted cash, noncurrent 21 14 Total cash, cash equivalents and restricted cash on the Consolidated Statements of Cash Flows $ 246 $ 364 SDG&E: Cash and cash equivalents $ 8 $ 12 Restricted cash, current 11 6 Restricted cash, noncurrent 18 11 Total cash, cash equivalents and restricted cash on the Consolidated Statements of Cash Flows $ 37 $ 29 We record allowances for the collection of trade and other accounts and notes receivable, which include allowances for doubtful customer accounts and for other receivables. We show the changes in these allowances in the table below: COLLECTION ALLOWANCES (Dollars in millions) Years ended December 31, 2018 2017 2016 Sempra Energy Consolidated: Allowances for collection of receivables at January 1 $ 33 $ 35 $ 32 Provisions for uncollectible accounts 14 16 23 Write-offs of uncollectible accounts (17 ) (18 ) (20 ) Allowances for collection of receivables at December 31 $ 30 $ 33 $ 35 SDG&E: Allowances for collection of receivables at January 1 $ 9 $ 8 $ 9 Provisions for uncollectible accounts 9 8 6 Write-offs of uncollectible accounts (7 ) (7 ) (7 ) Allowances for collection of receivables at December 31 $ 11 $ 9 $ 8 SoCalGas: Allowances for collection of receivables at January 1 $ 16 $ 21 $ 17 Provisions for uncollectible accounts 1 4 14 Write-offs of uncollectible accounts (7 ) (9 ) (10 ) Allowances for collection of receivables at December 31 $ 10 $ 16 $ 21 We evaluate accounts receivable collectability using a combination of factors, including past due status based on contractual terms, trends in write-offs, the age of the receivable, counterparty creditworthiness, economic conditions and specific events, such as bankruptcies. Adjustments to collection allowances are made when necessary based on the results of analysis, the aging of receivables, and historical and industry trends. The California Utilities value natural gas inventory using the LIFO method. As inventories are sold, differences between the LIFO valuation and the estimated replacement cost are reflected in customer rates. These differences are generally temporary, but may become permanent if the natural gas inventory withdrawn from storage during the year is not replaced by year end. The California Utilities generally value materials and supplies at the lower of average cost or net realizable value. Sempra South American Utilities, Sempra Mexico, Sempra Renewables and Sempra LNG & Midstream value natural gas inventory and materials and supplies at the lower of average cost or net realizable value. Sempra Mexico and Sempra LNG & Midstream value LNG inventory using the first-in first-out method. The components of inventories by segment are as follows: INVENTORY BALANCES AT DECEMBER 31 (Dollars in millions) Natural gas LNG Materials and supplies Total 2018 2017 2018 2017 2018 2017 2018 2017 SDG&E $ — $ 4 $ — $ — $ 102 $ 101 $ 102 $ 105 SoCalGas 92 75 — — 42 49 134 124 Sempra South American Utilities — — — — 38 30 38 30 Sempra Mexico — — 4 7 15 2 19 9 Sempra Renewables — — — — — 5 — 5 Sempra LNG & Midstream 3 30 — 4 — — 3 34 Sempra Energy Consolidated $ 95 $ 109 $ 4 $ 11 $ 197 $ 187 $ 296 $ 307 Income tax expense includes current and deferred income taxes. We record deferred income taxes for temporary differences between the book and the tax basis of assets and liabilities. ITCs from prior years are amortized to income by the California Utilities over the estimated service lives of the properties as required by the CPUC. At our other businesses, we reduce the book basis of the related asset by the amount of ITCs earned. At Sempra Renewables, PTCs have been recognized as income tax benefits as earned. Under the regulatory accounting treatment required for flow-through temporary differences, the California Utilities and Sempra Mexico recognize: ▪ regulatory assets to offset deferred income tax liabilities if it is probable that the amounts will be recovered from customers; and ▪ regulatory liabilities to offset deferred income tax assets if it is probable that the amounts will be returned to customers. When there are uncertainties related to potential income tax benefits, in order to qualify for recognition, the position we take has to have at least a more likely than not chance of being sustained (based on the position’s technical merits) upon challenge by the respective authorities. The term “more likely than not” means a likelihood of more than 50 percent. Otherwise, we may not recognize any of the potential tax benefit associated with the position. We recognize a benefit for a tax position that meets the more likely than not criterion at the largest amount of tax benefit that is greater than 50 percent likely of being realized upon its effective resolution. Unrecognized tax benefits involve management’s judgment regarding the likelihood of the benefit being sustained. The final resolution of uncertain tax positions could result in adjustments to recorded amounts and may affect our ETR. On December 22, 2017, the TCJA was signed into law. As a result, all cumulative undistributed earnings from non-U.S. subsidiaries were deemed repatriated and subjected to a one-time U.S. federal deemed repatriation tax. To the extent we intend to repatriate cash into the U.S., incremental U.S. state and non-U.S. withholding taxes are accrued. We currently do not record deferred income taxes for other basis differences between financial statement and income tax investment amounts in non-U.S. subsidiaries to the extent the related cumulative undistributed earnings are indefinitely reinvested. We recognize income tax expense for basis differences related to global intangible low-taxed income as a period cost if and when incurred. We provide additional information about income taxes in Note 8 RECs are energy rights established by governmental agencies for the environmental and social promotion of renewable electricity generation. A REC, and its associated attributes and benefits, can be sold separately from the underlying physical electricity associated with a renewable-based generation source in certain markets. PP&E primarily represents the buildings, equipment and other facilities used by the California Utilities to provide natural gas and electric utility services, and by the Sempra Global businesses in their operations, including construction work in progress at these segments. PP&E also includes lease improvements and other equipment at Parent and Other, as well as property acquired under a build-to-suit lease, which we discuss further in Note 16 . Our plant costs include: ▪ labor; ▪ materials and contract services; and ▪ expenditures for replacement parts incurred during a major maintenance outage of a plant. In addition, the cost of utility plant at our rate-regulated businesses and PP&E under regulated projects that meet the regulatory accounting requirements of U.S. GAAP at Sempra Mexico includes AFUDC. We discuss AFUDC below. The cost of other PP&E includes capitalized interest. Maintenance costs are expensed as incurred. The cost of most retired depreciable utility plant assets less salvage value is charged to accumulated depreciation. We discuss assets collateralized as security for certain indebtedness in Note 7 . PROPERTY, PLANT AND EQUIPMENT BY MAJOR FUNCTIONAL CATEGORY (Dollars in millions) PP&E at Depreciation rates for 2018 2017 2018 2017 2016 SDG&E: Natural gas operations $ 2,382 $ 2,186 2.44 % 2.40 % 2.40 % Electric distribution 7,462 6,975 3.91 3.92 3.86 Electric transmission (1) 6,222 5,626 2.76 2.71 2.66 Electric generation (2) 2,967 2,435 4.12 4.05 4.00 Other electric (3) 1,408 1,114 6.43 5.54 5.66 Construction work in progress (1) 1,221 1,451 NA NA NA Total SDG&E 21,662 19,787 SoCalGas: Natural gas operations (4) 17,268 15,759 3.60 3.63 3.64 Other non-utility 34 32 5.39 5.28 6.55 Construction work in progress 836 981 NA NA NA Total SoCalGas 18,138 16,772 Estimated Weighted-average Other operating units and parent (5) : useful lives useful life Land and land rights 429 416 16 to 50 years (6) 30 Machinery and equipment: Utility electric distribution operations 1,977 1,751 10 to 45 years 41 Generating plants 1,051 2,242 5 to 100 years 30 LNG terminals 1,134 1,133 43 years 43 Pipelines and storage 3,413 4,408 5 to 50 years 41 Other 205 269 1 to 50 years 7 Construction work in progress 684 691 NA NA Other (7) 622 639 3 to 80 years 31 9,515 11,549 Total Sempra Energy Consolidated $ 49,315 $ 48,108 (1) At December 31, 2018 , includes $457 million in electric transmission assets and $26 million in construction work in progress related to SDG&E’s 92 -percent interest in the Southwest Powerlink transmission line, jointly owned by SDG&E with other utilities. SDG&E, and each of the other owners, holds its undivided interest as a tenant in common in the property. Each owner is responsible for its share of the project and participates in decisions concerning operations and capital expenditures. SDG&E’s share of operating expenses is included in Sempra Energy’s and SDG&E’s Consolidated Statements of Operations. (2) Includes capital lease assets of $1.3 billion and $757 million at December 31, 2018 and 2017 , respectively. (3) Includes capital lease assets of $13 million and $22 million at December 31, 2018 and 2017 , respectively. (4) Includes capital lease assets of $40 million and $34 million at December 31, 2018 and 2017 , respectively. (5) Includes $154 million and $145 million at December 31, 2018 and 2017 , respectively, of utility plant, primarily pipelines and other distribution assets at Ecogas. (6) Estimated useful lives are for land rights. (7) Includes capital lease assets of $136 million and associated leasehold improvements of $24 million at both December 31, 2018 and 2017 related to a build-to-suit lease. Depreciation expense is computed using the straight-line method over the asset’s estimated original composite useful life, the CPUC-prescribed period for the California Utilities, or the remaining term of the site leases, whichever is shortest. DEPRECIATION EXPENSE (Dollars in millions) Years ended December 31, 2018 2017 2016 Sempra Energy Consolidated $ 1,528 $ 1,422 $ 1,236 SDG&E 686 621 583 SoCalGas 553 514 474 ACCUMULATED DEPRECIATION (Dollars in millions) December 31, 2018 2017 SDG&E: Accumulated depreciation: Electric (1) $ 4,558 $ 4,193 Natural gas 794 756 Total SDG&E 5,352 4,949 SoCalGas: Accumulated depreciation of natural gas utility plant in service (2) 5,685 5,352 Accumulated depreciation – other non-utility 14 14 Total SoCalGas 5,699 5,366 Other operating units and parent and other: Accumulated depreciation – other (3) 1,125 972 Accumulated depreciation of utility electric distribution operations 343 318 1,468 1,290 Total Sempra Energy Consolidated $ 12,519 $ 11,605 (1) Includes accumulated depreciation for capital lease assets of $48 million and $47 million at December 31, 2018 and 2017 , respectively. Includes $252 million at December 31, 2018 related to SDG&E’s 92 -percent interest in the Southwest Powerlink transmission line, jointly owned by SDG&E and other utilities. (2) Includes accumulated depreciation for capital lease assets of $37 million and $33 million at December 31, 2018 and 2017 , respectively. (3) Includes accumulated depreciation for capital lease assets of $10 million and $7 million and for associated leasehold improvements of $3 million and $2 million at December 31, 2018 and 2017 , respectively, related to a build-to-suit lease. Includes $43 million and $39 million at December 31, 2018 and 2017 , respectively, of accumulated depreciation for utility plant at Ecogas. The California Utilities finance their construction projects with debt and equity funds. The CPUC and the FERC allow the recovery of the cost of these funds by the capitalization of AFUDC, calculated using rates authorized by the CPUC and the FERC, as a cost component of PP&E. The California Utilities earn a return on the capitalized AFUDC after the utility property is placed in service and recover the AFUDC from their customers over the expected useful lives of the assets. Pipeline projects currently under construction by Sempra Mexico that are both subject to certain regulation and meet U.S. GAAP regulatory accounting requirements record the impact of AFUDC. We capitalize interest costs incurred to finance capital projects. We also capitalize interest on equity method investments that have not commenced planned principal operations. Interest capitalized and AFUDC are as follows: CAPITALIZED FINANCING COSTS (Dollars in millions) Years ended December 31, 2018 2017 2016 Sempra Energy Consolidated $ 202 $ 256 $ 236 SDG&E 82 85 62 SoCalGas 48 60 55 Goodwil l Goodwill is the excess of the purchase price over the fair value of the identifiable net assets of acquired companies measured at the time of acquisition. Goodwill is not amortized, but we test it for impairment annually on October 1 or whenever events or changes in circumstances necessitate an evaluation. If the carrying value of the reporting unit, including goodwill, exceeds its fair value, and the book value of goodwill is greater than its fair value on the test date, we record a goodwill impairment loss. For our annual goodwill impairment testing, under current U.S. GAAP guidance we have the option to first make a qualitative assessment of whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount before applying the two-step, quantitative goodwill impairment test. If we elect to perform the qualitative assessment, we evaluate relevant events and circumstances, including but not limited to, macroeconomic conditions, industry and market considerations, cost factors, changes in key personnel and the overall financial performance of the reporting unit. If, after assessing these qualitative factors, we determine that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, then we perform the two-step goodwill impairment test. When we perform the two-step, quantitative goodwill impairment test, we exercise judgment to develop estimates of the fair value of the reporting unit and the corresponding goodwill. Our fair value estimates are developed from the perspective of a knowledgeable market participant. We consider observable transactions in the marketplace for similar investments, if available, as well as an income-based approach such as discounted cash flow analysis. A discounted cash flow analysis may be based directly on anticipated future revenues and expenses and may be performed based on free cash flows generated within the reporting unit. Critical assumptions that affect our estimates of fair value may include: ▪ consideration of market transactions; ▪ future cash flows; ▪ the appropriate risk-adjusted discount rate; ▪ country risk; and ▪ entity risk. Changes in the carrying amount of goodwill on the Sempra Energy Consolidated Balance Sheets are as follows: GOODWILL (Dollars in millions) Sempra South American Utilities Sempra Mexico Total Balance at December 31, 2016 $ 749 $ 1,615 $ 2,364 Acquisition of business – measurement period adjustment — (13 ) (13 ) Foreign currency translation (1) 46 — 46 Balance at December 31, 2017 795 1,602 2,397 Acquisition of business 38 — 38 Foreign currency translation (1) (62 ) — (62 ) Balance at December 31, 2018 $ 771 $ 1,602 $ 2,373 (1) We record the offset of this fluctuation to OCI. As we discuss in Note 5, Sempra South American Utilities recorded goodwill of $ 38 million in connection with its acquisition of CTNG in 2018. In 2017, Sempra Mexico recorded a reduction to goodwill of $ 13 million for a measurement period adjustment in connection with its acquisition of Ventika. Other Intangible Assets Other Intangible Assets included on the Sempra Energy Consolidated Balance Sheets are as follows: OTHER INTANGIBLE ASSETS (Dollars in millions) Amortization period (years) December 31, 2018 2017 Development rights 50 $ — $ 322 Renewable energy transmission and consumption permit 19 154 154 Storage rights 46 — 138 O&M agreement 23 66 66 Concession permits Indefinite 50 — Other 10 years to indefinite 28 18 298 698 Less accumulated amortization: Development rights — (60 ) Renewable energy transmission and consumption permit (16 ) (8 ) Storage rights — (28 ) O&M agreement (3 ) — Other (7 ) (6 ) (26 ) (102 ) $ 272 $ 596 Other Intangible Assets at December 31, 2018 primarily includes: ▪ a renewable energy transmission and consumption permit previously granted by the CRE that was acquired in connection with the acquisition of the Ventika wind power generation facilities; ▪ a favorable O&M agreement acquired in connection with the acquisition of DEN, which we discuss in Note 5 ; and ▪ in connection with the CTNG acquisition that we disclose in Note 5, concession permits allowing CTNG to operate transmission lines and substation assets into perpetuity. In 2018, we recognized an impairment of $369 million for the net carrying value of Other Intangible Assets at Sempra LNG & Midstream, representing development and storage rights related to the natural gas storage facilities of Mississippi Hub and Bay Gas. This impairment is included in Sempra LNG & Midstream’s total net impairment of $ 1.1 billion, which is recorded in Impairment Losses on Sempra Energy’s Consolidated Statements of Operations, as we discuss in Notes 5 and 12 . Also in 2018, Other Intangible Assets increased due to Sempra Mexico’s acquisition of self-supply permits for development projects. These self-supply permits allow generators to compete directly with the CFE’s retail tariffs and, thus, have access to PPAs with a competitive pricing position. The useful life of a self-supply permit is based on the life of the interconnection agreement with the CFE. Amortization of self-supply permits begins when the project has commenced planned principal operations. Intangible assets subject to amortization are amortized over their estimated useful lives. Amortization expense for intangible assets in 2018 , 2017 and 2016 was $16 million , $18 million and $11 million , respectively. We estimate the amortization expense for the next five years to be $12 million We test long-lived assets for recoverability whenever events or changes in circumstances have occurred that may affect the recoverability or the estimated useful lives of long-lived assets. Long-lived assets include intangible assets subject to amortization, but do not include investments in unconsolidated entities. Events or changes in circumstances that indicate that the carrying amount of a long-lived asset may not be recoverable may include: ▪ significant decreases in the market price of an asset; ▪ a significant adverse change in the extent or manner in which we use an asset or in its physical condition; ▪ a significant adverse change in legal or regulatory factors or in the business climate that could affect the value of an asset; ▪ a current period operating or cash flow loss combined with a history of operating or cash flow losses or a projection of continuing losses associated with the use of a long-lived asset; and ▪ a current expectation that, more likely than not, a long-lived asset will be sold or otherwise disposed of significantly before the end of its previously estimated useful life. SDG&E has a tolling agreement to purchase power generated at OMEC, a 605 -MW generating facility. A related agreement provided SDG&E with the option to purchase OMEC at a predetermined price (referred to as the call option). SDG&E’s call option has since expired unexercised. Under the terms of the agreement, on or before April 1, 2019, OMEC LLC can require SDG&E to purchase the power plant on or before October 3, 2019 for $280 million , subject to adjustments (referred to as the put option), or upon earlier termination of the PPA. The facility owner, OMEC LLC, is a VIE, which we refer to as Otay Mesa VIE |
NEW ACCOUNTING STANDARDS
NEW ACCOUNTING STANDARDS | 12 Months Ended |
Dec. 31, 2018 | |
Accounting Changes and Error Corrections [Abstract] | |
NEW ACCOUNTING STANDARDS | NEW ACCOUNTING STANDARDS We describe below recent accounting pronouncements that have had or may have a significant effect on our financial condition, results of operations, cash flows or disclosures. ASU 2014-09, “Revenue from Contracts with Customers,” ASU 2015-14, “Deferral of the Effective Date,” ASU 2016-08, “Principal versus Agent Considerations (Reporting Revenue Gross versus Net),” ASU 2016-10, “Identifying Performance Obligations and Licensing” and ASU 2016-12, “Narrow-Scope Improvements and Practical Expedients”: ASU 2014-09 adds ASC 606 to provide accounting guidance for the recognition of revenue from contracts with customers and affects all entities that enter into contracts to provide goods or services to their customers. The guidance also provides a model for the measurement and recognition of gains and losses on the sale of certain nonfinancial assets, such as property and equipment, including real estate. This guidance must be adopted using either a full retrospective approach for all periods presented in the period of adoption or a modified retrospective approach. Amending ASU 2014-09, ASU 2016-08 clarifies the implementation guidance on principal versus agent considerations, ASU 2016-10 clarifies the determination of whether a good or service is separately identifiable from other promises and revenue recognition related to licenses of intellectual property, and ASU 2016-12 provides guidance on transition, collectability, noncash consideration, and the presentation of sales and other similar taxes. The ASUs are codified in ASC 606. We adopted ASC 606 on January 1, 2018, applying the modified retrospective transition method to all contracts as of January 1, 2018 and elected to use certain practical expedients available under the transition guidance. The impact from adoption was not material to our financial statements, and the timing of our revenue recognition has remained materially consistent before and after the adoption of ASC 606. The new revenue standard provides specific guidance for combining contracts, which resulted in a prospective reclassification between cost of sales and revenues within our Sempra LNG & Midstream segment. This reclassification had no impact on Sempra Energy’s consolidated revenues or cost of sales. Our additional disclosures about the nature, amount, timing and uncertainty of revenues arising from contracts with customers are included in Note 3. ASU 2016-01, “Recognition and Measurement of Financial Assets and Financial Liabilities” and ASU 2018-03, “Technical Corrections and Improvements to Financial Instruments – Overall”: In addition to the presentation and disclosure requirements for financial instruments, ASU 2016-01 requires entities to measure equity investments, other than those accounted for under the equity method, at fair value and recognize changes in fair value in net income. Entities will no longer be able to use the cost method of accounting for equity securities. However, for equity investments without readily determinable fair values that do not qualify for the practical expedient to estimate fair value using NAV per share, entities may elect a measurement alternative that will allow those investments to be recorded at cost, less impairment, and adjusted for subsequent observable price changes. ASU 2018-03 clarifies that the prospective transition approach for equity investments without readily determinable fair values is meant only for instances in which the measurement alternative is elected. Entities must record a cumulative-effect adjustment to the balance sheet as of the beginning of the first reporting period in which the standard is adopted, except for equity investments without readily determinable fair values, for which the guidance will be applied prospectively. We adopted ASU 2016-01 and ASU 2018-03 on January 1, 2018. Sempra Energy recognized a cumulative-effect adjustment to decrease Retained Earnings and Other Investments as of January 1, 2018 by $1 million . ASU 2016-02, “Leases,” ASU 2018-01, “Land Easement Practical Expedient for Transition to Topic 842,” ASU 2018-10, “Codification Improvements to Topic 842, Leases,” ASU 2018-11, “Leases (Topic 842): Targeted Improvements” and ASU 2018-20, “Narrow-Scope Improvements for Lessors” (collectively referred to as the “lease standard”): ASU 2016-02 requires entities to recognize substantially all of their leases on the balance sheet as ROU assets and lease liabilities. Entities may elect to exclude from the balance sheet those leases with a term of 12 months or less. For lessees, a lease is classified as finance or operating, and initially the asset and liability for each lease type is generally measured at the present value of the fixed lease payments. ASU 2016-02 also requires new qualitative and quantitative disclosures for both lessees and lessors. ASU 2018-10 makes technical corrections and clarifications to the accounting guidance in ASC 842. For lessors, accounting for leases is largely unchanged from previous provisions of U.S. GAAP, other than certain changes to the lease identification criteria and aligning the principles of the lessor model with those introduced in ASC 606. ASU 2018-20 addresses the following issues that lessors encounter when applying ASU 2016-02: (a) sales taxes and other similar taxes collected from lessees, (b) certain lessor costs paid directly by the lessee and (c) recognition of variable payments for contracts with lease and nonlease components. For public entities, the lease standard is effective for fiscal years beginning after December 15, 2018, including interim periods therein, with early adoption permitted. ASU 2016-02 requires lessees and lessors to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. ASU 2018-11 provides entities an optional transition method to apply the new guidance as of the adoption date, rather than as of the earliest period presented. In transition, entities may elect certain practical expedients when applying ASU 2016-02. These include a package of practical expedients that must be applied in its entirety to all leases that had commenced before the effective date and would allow an entity to not reassess (a) the existence of a lease, (b) lease classification or (c) determination of initial direct costs, which effectively allows entities to carryforward accounting conclusions under previous U.S. GAAP. ASU 2016-02 also includes a practical expedient to use hindsight in making judgments when determining the lease term and any long-lived asset impairment. ASU 2018-01 allows entities to elect a practical expedient that would exclude application of ASU 2016-02 to land easements that existed prior to its adoption, if they were not accounted for as leases under previous U.S. GAAP. In addition, ASU 2016-02 and ASU 2018-11 provide practical expedients to the lessee and lessor, respectively, for separating lease and non-lease components. These ASUs are codified in ASC 842. We will adopt the lease standard on January 1, 2019 using the optional transition method to apply the new guidance prospectively as of January 1, 2019, rather than as of the earliest period presented. We plan to elect the package of practical expedients and the land easement practical expedient described above. We do not plan to elect the practical expedient to use hindsight. The adoption of the lease standards will not change our previously reported financial statements. However, on a prospective basis, a significant portion of finance lease costs for PPAs that have historically been classified in Cost of Electric Fuel and Purchased Power will be classified in Depreciation and Amortization Expense and Interest Expense on Sempra Energy’s and SDG&E’s statements of operations. In 2018, we recorded $117 million in purchased-power costs from capital leases in Cost of Electric Fuel and Purchased Power at SDG&E and Sempra Energy. Further, the adoption of the lease standard will have a material impact on our balance sheets at January 1, 2019 due to the initial recognition of ROU assets and lease liabilities for operating leases. Our finance leases were already included on our balance sheets prior to adoption of the lease standard, consistent with previous U.S. GAAP for capital leases. We will include additional disclosures about our leases in our Notes to Consolidated Financial Statements beginning in the first quarter of 2019. The following table shows the expected (decrease) increase on our balance sheets at January 1, 2019 from adoption of the lease standard. EXPECTED IMPACT FROM ADOPTION OF THE LEASE STANDARD (Dollars in millions) Sempra Energy Consolidated SDG&E SoCalGas Other current assets $ (68 ) $ — $ — Property, plant and equipment, net (147 ) — — Right-of-use assets – operating leases 623 130 116 Deferred income taxes (3 ) — — Other current liabilities 81 20 23 Long-term debt (138 ) — — Deferred credits and other 445 110 93 Retained earnings 17 — — As a result of the adoption of the lease standard, we will derecognize our corporate headquarters building lease in accordance with the transition provisions for build-to-suit arrangements. On a prospective basis, we will account for the corporate headquarters building lease as an operating lease. The expected impact is included in the above table. ASU 2016-13, “Measurement of Credit Losses on Financial Instruments”: ASU 2016-13 changes how entities will measure credit losses for most financial assets and certain other instruments. The standard introduces an “expected credit loss” impairment model that requires immediate recognition of estimated credit losses expected to occur over the remaining life of most financial assets measured at amortized cost, including trade and other receivables, loan commitments and financial guarantees. ASU 2016-13 also requires use of an allowance to record estimated credit losses on available-for-sale debt securities and expands disclosure requirements regarding an entity’s assumptions, models and methods for estimating the credit losses. For public entities, ASU 2016-13 is effective for fiscal years beginning after December 15, 2019, including interim periods therein, with early adoption permitted for fiscal years beginning after December 15, 2018. The amendments are to be applied using a modified retrospective approach through a cumulative-effect adjustment to retained earnings at the beginning of the first reporting period in the year of adoption. We are currently evaluating the effect of the standard on our ongoing financial reporting and plan to adopt the standard on January 1, 2020. ASU 2017-04, “Simplifying the Test for Goodwill Impairment”: ASU 2017-04 removes the second step of the goodwill impairment test, which requires a hypothetical purchase price allocation. An entity will be required to apply a one-step quantitative test and record the amount of goodwill impairment as the excess of a reporting unit’s carrying amount over its fair value, not to exceed the carrying amount of goodwill. For public entities, ASU 2017-04 is effective for annual or interim goodwill impairment tests in fiscal years beginning after December 15, 2019, with early adoption permitted. The amendments are to be applied on a prospective basis. We plan to adopt the standard on January 1, 2020. ASU 2017-05, “Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets”: ASU 2017-05 clarifies the scope of accounting for the derecognition or partial sale of nonfinancial assets to exclude all businesses and nonprofit activities. ASU 2017-05 also provides a definition for in-substance nonfinancial assets and additional guidance on partial sales of nonfinancial assets. We adopted the standard in conjunction with our adoption of ASC 606 on January 1, 2018 using the modified retrospective transition method and it did not materially affect our financial condition, results of operations or cash flows. ASU 2017-07, “Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost”: ASU 2017-07 requires the service cost component of net periodic benefit costs to be presented in the same income statement line item as other employee compensation costs arising from services rendered during the period and the other components of net periodic benefit costs to be presented separately outside of operating income. The guidance also allows only the service cost component to be eligible for capitalization. Amendments are to be applied retrospectively for presentation of costs and prospectively for capitalization of service costs. The guidance allows a practical expedient that permits use of previously disclosed service costs and other costs from the pension and other postretirement benefit plan disclosure in the comparative periods as appropriate estimates when retrospectively changing the presentation of these costs in the statements of operations. We adopted the standard on January 1, 2018 and elected the practical expedient available under the transition guidance. Upon adoption of ASU 2017-07, our Consolidated Statements of Operations were impacted as follows: IMPACT FROM ADOPTION OF ASU 2017-07 (Dollars in millions) Years ended December 31, 2017 2016 As previously reported Effect of adoption As adjusted As previously reported Effect of adoption As adjusted Sempra Energy: Operation and maintenance $ 3,117 $ (21 ) $ 3,096 $ 2,970 $ 6 $ 2,976 Other income, net 254 (21 ) 233 132 6 138 SDG&E: Operation and maintenance $ 1,020 $ 4 $ 1,024 $ 1,048 $ 14 $ 1,062 Total operating expenses 3,763 4 3,767 3,263 14 3,277 Operating income 713 (4 ) 709 990 (14 ) 976 Other income, net 66 4 70 50 14 64 SoCalGas: Operation and maintenance $ 1,479 $ (5 ) $ 1,474 $ 1,385 $ 6 $ 1,391 Total operating expenses 3,163 (5 ) 3,158 2,914 6 2,920 Operating income 622 5 627 557 (6 ) 551 Other income, net 36 (5 ) 31 32 6 38 ASU 2017-12, “Targeted Improvements to Accounting for Hedging Activities”: ASU 2017-12 changes the designation and measurement guidance for qualifying hedging relationships and the presentation of hedge accounting results. More specifically, the guidance expands the exposures that can be hedged to align with an entity’s risk management strategies, alleviates documentation requirements, eliminates the concept of recognizing periodic hedge ineffectiveness for cash flow and net investment hedges and requires entities to present the entire change in the fair value of a hedging instrument in the same income statement line item as the earnings effect of the hedged item. Transition elections are available for all hedges that exist at the date of adoption. We early adopted ASU 2017-12 on January 1, 2018 by applying the modified retrospective approach to the accounting for existing hedging relationships. Upon adoption of ASU 2017-12, Sempra Energy recognized a cumulative-effect adjustment to increase Retained Earnings and Accumulated Other Comprehensive Loss as of January 1, 2018 by $3 million . ASU 2018-02, “Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income”: ASU 2018-02 contains amendments that allow a reclassification from AOCI to retained earnings for stranded tax effects resulting from the TCJA. Under ASU 2018-02, an entity will be required to provide certain disclosures regarding stranded tax effects, including its accounting policy related to releasing the income tax effects from AOCI. The amendments in this update can be applied either as of the beginning of the period of adoption or retrospectively as of the date of enactment of the TCJA and to each period in which the effect of the TCJA is recognized. For public entities, ASU 2018-02 is effective for annual reporting periods beginning after December 15, 2018, including interim periods therein, with early adoption permitted. We will adopt ASU 2018-02 on January 1, 2019 and will reclassify the income tax effects of the TCJA from AOCI to retained earnings. We expect the impact from adoption of ASU 2018-02 on January 1, 2019 to be as follows: ▪ Sempra Energy: increase of $40 million to beginning Retained Earnings, $2 million to noncurrent Regulatory Liabilities and $42 million to Accumulated Other Comprehensive Loss; ▪ SDG&E: increase of $2 million to beginning Retained Earnings and Accumulated Other Comprehensive Loss; and ▪ SoCalGas: increase of $2 million to beginning Retained Earnings, $2 million to noncurrent Regulatory Liabilities and $4 million to Accumulated Other Comprehensive Loss. ASU 2018-05, “Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118”: As a result of the TCJA, the SEC staff issued Staff Accounting Bulletin No. 118 (SAB 118), which provides guidance on accounting for the TCJA’s impact. Under SAB 118, an entity may apply an approach similar to the measurement period in a business combination. That is, an entity would record those impacts for which the accounting is complete. For matters that are not certain, the entity would either (a) recognize provisional amounts to the extent that they are reasonably estimable and adjust them over time as more information becomes available, or (b) for any specific income tax effects of the TCJA for which a reasonable estimate cannot be determined, continue to apply ASC 740, Income Taxes , on the basis of the provisions of the tax laws that were in effect immediately before the TCJA was signed into law; the entity would not adjust current or deferred income taxes for those tax effects of the TCJA until a reasonable estimate can be determined. ASU 2018-05 amends ASC 740 by incorporating SAB 118 and was effective upon issuance. We applied SAB 118 and ASU 2018-05 in 2018. The income tax effects of the TCJA that we recorded in 2017 were provisional. We adjusted our provisional estimates and completed our accounting for the income tax effects of the TCJA in 2018, as we discuss in Note 8. ASU 2018-13, “Changes to the Disclosure Requirements for Fair Value Measurement” and ASU 2018-14, “Changes to the Disclosure Requirements for Defined Benefit Plans”: |
REVENUES
REVENUES | 12 Months Ended |
Dec. 31, 2018 | |
Revenue from Contract with Customer [Abstract] | |
REVENUES | REVENUES The following table disaggregates our revenues from contracts with customers by major service line, market and timing of recognition and provides a reconciliation to total revenues by segment. DISAGGREGATED REVENUES (Dollars in millions) Year ended December 31, 2018 SDG&E SoCalGas Sempra South American Utilities Sempra Mexico Sempra Renewables Sempra LNG & Midstream Consolidating adjustments Sempra Energy Consolidated By major service line: Utilities $ 4,788 $ 3,577 $ 1,507 $ 78 $ — $ — $ (69 ) $ 9,881 Midstream — — — 630 — 224 (138 ) 716 Renewables — — — 108 46 2 (2 ) 154 Other — — 73 203 — 6 (6 ) 276 Revenues from contracts with customers $ 4,788 $ 3,577 $ 1,580 $ 1,019 $ 46 $ 232 $ (215 ) $ 11,027 By market: Electric $ 4,297 $ — $ 1,580 $ 308 $ 46 $ 8 $ (12 ) $ 6,227 Gas 491 3,577 — 711 — 224 (203 ) 4,800 Revenues from contracts with customers $ 4,788 $ 3,577 $ 1,580 $ 1,019 $ 46 $ 232 $ (215 ) $ 11,027 By timing of recognition: Over time $ 4,677 $ 3,454 $ 1,554 $ 1,019 $ 46 $ 210 $ (204 ) $ 10,756 Point in time 111 123 26 — — 22 (11 ) 271 Revenues from contracts with customers $ 4,788 $ 3,577 $ 1,580 $ 1,019 $ 46 $ 232 $ (215 ) $ 11,027 Revenues from contracts with customers $ 4,788 $ 3,577 $ 1,580 $ 1,019 $ 46 $ 232 $ (215 ) $ 11,027 Utilities regulatory revenues (220 ) 385 — — — — — 165 Other revenues — — 5 357 78 240 (185 ) 495 Total revenues $ 4,568 $ 3,962 $ 1,585 $ 1,376 $ 124 $ 472 $ (400 ) $ 11,687 REVENUES FROM CONTRACTS WITH CUSTOMERS Our revenues from contracts with customers are primarily related to the generation, transmission and distribution of electricity and the transmission, distribution and storage of natural gas through our regulated utilities. We also provide other midstream and renewable energy-related services. We assess our revenues on a contract-by-contract basis as well as a portfolio basis to determine the nature, amount, timing and uncertainty, if any, of revenues being recognized. We generally recognize revenues when performance of the promised commodity service is provided to our customers and invoice our customers for an amount that reflects the consideration we are entitled to in exchange for those services. We consider the delivery and transmission of electricity and natural gas and providing of natural gas storage services as ongoing and integrated services. Generally, electricity or natural gas services are received and consumed by the customer simultaneously. Our performance obligations related to these services are satisfied over time and represent a series of distinct services that are substantially the same and that have the same pattern of transfer to the customers. We recognize revenue based on units delivered, as the satisfaction of our performance obligations can be directly measured by the amount of electricity or natural gas delivered to the customer. In most cases, the right to consideration from the customer directly corresponds to the value transferred to the customer and we recognize revenue in the amount that we have the right to invoice. We provide further details of our revenue streams below. The payment terms in our customer contracts vary. Typically, we have an unconditional right to customer payments, which are due after the performance obligation to the customer is satisfied. The term between invoicing and when payment is due is typically between 10 and 90 days. We have elected the practical expedient to exclude sales and usage-based taxes from revenues. In addition, the California Utilities pay franchise fees to operate in various municipalities. The California Utilities bill these franchise fees to their customers based on a CPUC-authorized rate. These franchise fees, which are required to be paid regardless of the California Utilities’ ability to collect from the customer, are accounted for on a gross basis and reflected in utilities revenues from contracts with customers and operating expense. Utilities Revenues Utilities revenues represent the majority of our consolidated revenues from contracts with customers and include: The generation, transmission and distribution of electricity at: ▪ SDG&E ▪ Sempra South American Utilities’ Chilquinta Energía and Luz del Sur The transmission, distribution and storage of natural gas at: ▪ SDG&E ▪ SoCalGas ▪ Sempra Mexico’s Ecogas Utilities revenues are derived from and recognized upon the delivery of electricity or natural gas services to customers. Amounts that we bill our customers are based on tariffs set by regulators within the respective state or country. For SDG&E and SoCalGas, which follow the provisions of U.S. GAAP governing rate-regulated operations as we discuss in Note 1, amounts that we bill to customers also include adjustments for previously recognized regulatory revenues. The California Utilities and Ecogas recognize revenues based on regulator-approved revenue requirements, which allows the utilities to recover their reasonable cost of O&M and provides the opportunity to realize their authorized rates of return on their investments. While the California Utilities’ revenues are not affected by actual sales volumes, the pattern of their revenue recognition during the year is affected by seasonality. SoCalGas recognizes annual authorized revenue for core natural gas customers using seasonal factors established in the Triennial Cost Allocation Proceeding. Accordingly, a significant portion of SoCalGas’ annual earnings are recognized in the first and fourth quarters of each year. SDG&E’s authorized revenue recognition is also impacted by seasonal factors, resulting in higher earnings in the third quarter when electric loads are typically higher than in the other three quarters of the year. SDG&E has an arrangement to provide the California ISO with the ability to control its high-voltage transmission lines for prices approved by the FERC. Revenue is recognized over time as access is provided to the California ISO. Chilquinta Energía and Luz del Sur, our electric distribution utilities in South America, recognize revenues based on tariffs designed to provide for a pass-through to customers of transmission and energy costs, recovery of reasonable O&M based on an efficient model distribution company, incentives to reduce costs and make needed capital investments and a regulated rate of return on the distributor’s regulated asset base. Factors that can affect the amount, timing and uncertainty of revenues and cash flows include weather, seasonality and timing of customer billings, which may result in unbilled revenues that can vary significantly from month to month and generally approximate one-half month’s deliveries. The California Utilities recognize revenues from the sale of allocated California GHG emissions allowances at quarterly auctions administered by CARB. GHG allowances are delivered to CARB in advance of the quarterly auctions, and the California Utilities have the right to payment when the GHG allowances are sold at auction. GHG revenue is recognized on a point in time basis within the quarter the auction is held. The California Utilities balance costs and revenues associated with the GHG program through regulatory balancing accounts. Midstream Revenues Midstream revenues at Sempra Mexico and Sempra LNG & Midstream typically represent revenues from long-term, U.S. dollar-based contracts with customers for the sale of natural gas and LNG, as well as storage and transportation of natural gas. Invoiced amounts are based on the volume of natural gas delivered and contracted prices. Sempra Mexico’s marketing operations sell natural gas to the CFE and other customers under supply agreements. Sempra Mexico recognizes the revenue from the sale of natural gas upon transfer of the natural gas via pipelines to customers at the agreed upon delivery points, and in the case of the CFE, at its thermoelectric power plants. Through its marketing operations, Sempra LNG & Midstream has contracts to sell natural gas and LNG to Sempra Mexico that allow Sempra Mexico to satisfy its obligations under supply agreements with the CFE and other customers, and to supply Sempra Mexico’s TdM power plant. Because Sempra Mexico either immediately delivers the natural gas to its customers or consumes the benefits simultaneously (by using the gas to supply TdM), revenues from Sempra LNG & Midstream’s sale of natural gas to Sempra Mexico are generally recognized over time as delivered. Revenues from LNG sales are recognized at the point when the cargo is delivered to Sempra Mexico. Revenues from the sale of LNG and natural gas by Sempra LNG & Midstream to Sempra Mexico are adjusted for indemnity payments and profit sharing. We consider these adjustments to be forms of variable consideration that are associated with the sale of LNG and natural gas to Sempra Mexico, and therefore, Sempra LNG & Midstream records the related costs as an offset to revenues, with no impact to Sempra Energy’s consolidated revenues. We recognize storage revenue from firm capacity reservation agreements, under which we collect a fee for reserving storage capacity for customers in our underground storage facilities. Under these firm agreements, customers pay a monthly fixed reservation fee based on the storage capacity reserved rather than the actual volumes stored. For the fixed-fee component, revenue is recognized on a straight-line basis over the term of the contract. We bill customers for any capacity used in excess of the contracted capacity and such revenues are recognized in the month of occurrence. We also recognize revenue for interruptible storage services. As we discuss in Note 5 , on February 7, 2019, Sempra LNG & Midstream completed the sale of its non-utility natural gas storage assets in the southeast U.S. (comprised of Mississippi Hub and Bay Gas). We generate pipeline transportation revenues from firm agreements, under which customers pay a fee for reserving transportation capacity. Revenue is recognized when the volumes are delivered to the customers’ agreed upon delivery point. We recognize revenues for our stand-ready obligation to provide capacity and transportation services throughout the contractual delivery period, as the benefits are received and consumed simultaneously as customers utilize pipeline capacity for the transport and receipt of natural gas and LPG. Invoiced amounts are based on a variable usage fee and a fixed capacity charge, adjusted for the CPI, the effects of any foreign currency translation and the actual quantity of commodity transported. Renewables Revenues Sempra Renewables and Sempra Mexico develop, invest in and operate solar and wind facilities that have long-term PPAs to sell the electricity and the related green energy attributes they generate to customers, generally load serving entities, and also for Sempra Mexico, industrial and other customers. Load serving entities will sell electric service to their end-users and wholesale customers immediately upon receipt of our power delivery, and industrial and other customers immediately consume the electricity to run their facilities, and thus, we recognize the revenue under the PPAs as the electricity is generated. We invoice customers based on the volume of energy delivered at rates pursuant to the PPAs. As we discuss in Note 5 , in December 2018, we completed the sale of Sempra Renewables’ U.S. operating solar assets, solar and battery storage development projects and its 50-percent ownership interest in a wind power generation facility. In February 2019, Sempra Renewables entered into an agreement to sell its remaining wind assets and investments. We expect to complete the sale in the second quarter of 2019. Sempra LNG & Midstream has a contractual agreement to provide scheduling and marketing of renewable power for Sempra Renewables. Invoiced amounts are based on a fixed fee per MWh scheduled. Other Revenues from Contracts with Customers Tecnored and Tecsur, our energy services companies in South America, generate revenues from the retail sale of electric materials and providing electric construction and infrastructure services to their customers. TdM is a natural gas-fired power plant that generates revenues from selling electricity and/or resource adequacy to the California ISO and to governmental, public utility and wholesale power marketing entities, as the power is delivered at the interconnection point. Remaining Performance Obligations We do not disclose information about remaining performance obligations for (a) contracts with an original expected length of one year or less, (b) revenues recognized at the amount at which we have the right to invoice for services performed, or (c) variable consideration allocated to wholly unsatisfied performance obligations. For contracts greater than one year, at December 31, 2018, we expect to recognize revenue related to the fixed fee component of the consideration as shown below. Sempra Energy’s remaining performance obligations primarily relate to capacity agreements for natural gas storage and transportation at Sempra Mexico. SoCalGas did not have any remaining performance obligations at December 31, 2018. REMAINING PERFORMANCE OBLIGATIONS (1) (Dollars in millions) Sempra Energy Consolidated SDG&E 2019 $ 540 $ 3 2020 534 3 2021 529 3 2022 528 3 2023 516 3 Thereafter 2,813 52 Total revenues to be recognized $ 5,460 $ 67 (1) Excludes intercompany transactions. Contract Balances from Revenues from Contracts with Customers From time to time, we receive payments in advance of satisfying the performance obligations associated with customer contracts. We defer such revenues as contract liabilities and recognize them in earnings as the performance obligations are satisfied. Activities within Sempra Energy’s contract liabilities are presented below. There were no contract liability activities at SDG&E or SoCalGas for the year ended December 31, 2018 . CONTRACT LIABILITIES (Dollars in millions) Opening balance, January 1, 2018 $ — Adoption of ASC 606 adjustment (68 ) Revenue from performance obligations satisfied during reporting period 31 Payments received in advance (39 ) Closing balance, December 31, 2018 (1) $ (76 ) (1) I ncludes $6 million in Other Current Liabilities, a negligible amount in Liabilities Held for Sale and $70 million in Deferred Credits and Other on the Sempra Energy Consolidated Balance Sheet. Receivables from Revenues from Contracts with Customers The table below shows receivable balances associated with revenues from contracts with customers on our Consolidated Balance Sheets. RECEIVABLES FROM REVENUES FROM CONTRACTS WITH CUSTOMERS (Dollars in millions) December 31, 2018 January 1, 2018 Sempra Energy Consolidated: Accounts receivable – trade, net $ 1,333 $ 1,194 Accounts receivable – other, net 11 10 Due from unconsolidated affiliates – current (1) 4 8 Assets held for sale 6 — Total $ 1,354 $ 1,212 SDG&E: Accounts receivable – trade, net $ 368 $ 362 Accounts receivable – other, net 6 3 Due from unconsolidated affiliates – current (1) 3 3 Total $ 377 $ 368 SoCalGas: Accounts receivable – trade, net $ 634 $ 517 Accounts receivable – other, net 5 7 Total $ 639 $ 524 (1) A mount is presented net of amounts due to unconsolidated affiliates on the Consolidated Balance Sheets, when right of offset exists. REVENUES FROM SOURCES OTHER THAN CONTRACTS WITH CUSTOMERS Certain of our revenues are derived from sources other than contracts with customers and are accounted for under other accounting standards outside the scope of ASC 606. Utilities Regulatory Revenues Alternative Revenue Programs We recognize revenues from alternative revenue programs when the regulator-specified conditions for recognition have been met and adjust these revenues as they are recovered or refunded through future utility service. Decoupled revenues. As discussed earlier, the regulatory framework requires the California Utilities to recover authorized revenue based on estimated annual demand forecasts approved in regular proceedings before the CPUC. However, actual demand for electricity and natural gas will generally vary from CPUC-approved forecasted demand due to the impacts from weather volatility, energy efficiency programs, rooftop solar and other factors affecting consumption. The CPUC regulatory framework provides for the California Utilities to use a “decoupling” mechanism, which allows the California Utilities to record revenue shortfalls or excess revenues resulting from any difference between actual and forecasted demand to be recovered or refunded in authorized revenue in a subsequent period based on the nature of the account. Incentive mechanisms. The CPUC applies performance-based measures and incentive mechanisms to all California IOUs, under which the California Utilities have earnings potential above authorized base margins if they achieve or exceed specific performance and operating goals. Generally, for performance-based awards, if performance is above or below specific benchmarks, the utility is eligible for financial awards or subject to financial penalties. Incentive awards are included in revenues when we receive required CPUC approval of the award, the timing of which may not be consistent from year to year. We would record penalties for results below the specified benchmarks against revenues when we believe it is probable that the CPUC would assess a penalty. Other Cost-Based Regulatory Recovery The CPUC authorizes the California Utilities to collect revenue requirements for costs that they have been authorized to recover from customers, including the costs to purchase electricity and natural gas; costs associated with administering public purpose, demand response, and customer energy efficiency programs; and other programmatic activities authorized as part of the GRC or separately from the GRC. Actual costs are recovered as the commodity or service is delivered or, to the extent actual amounts vary from forecasts, generally recovered or refunded within a subsequent period based on the nature of the account through a balancing account mechanism. In general, the revenue recognition criteria for pass-through costs billed to customers are met at the time the costs are incurred. Because SDG&E’s and SoCalGas’ cost of electricity and/or natural gas is substantially recovered in rates through a balancing account mechanism, changes in these costs are reflected in the changes in revenues, and therefore do not impact earnings. The CPUC authorizes balancing accounts for certain programmatic activities. Amounts billed to customers, if any, are recorded in these accounts, as well as actual O&M and applicable capital-related costs (such as depreciation, taxes and ROE). Differences between actual and authorized expenditures are tracked and may be recovered or refunded within a GRC cycle or as part of a subsequent GRC request. Examples of these types of programs include, but are not limited to, gas distribution, gas transmission, and gas storage integrity management. The CPUC may impose various review procedures before authorizing recovery or refund for programs authorized separately from the GRC, including limitations on the total cost of the program, revenue requirement limits or reviews of costs for reasonableness. These procedures could result in disallowances of recovery from ratepayers. An example of a program with reasonableness review procedures is PSEP. We discuss balancing accounts and their effects further in Note 4 . Other Revenues Sempra LNG & Midstream has an agreement to supply LNG to Sempra Mexico’s ECA LNG terminal. Although the LNG sale and purchase agreement specifies a number of cargoes to be delivered annually, actual cargoes delivered by the supplier have traditionally been significantly lower than the maximum specified under the agreement. As a result, Sempra LNG & Midstream is contractually required to make monthly indemnity payments to Sempra Mexico for failure to deliver the contracted LNG. Sempra Mexico generates lease revenues from operating lease agreements with PEMEX for the use of natural gas and ethane pipelines and LPG storage facilities. Certain PPAs at Sempra Renewables were also accounted for as operating leases prior to December 2018. Subsequent to the sale of its solar assets in December 2018, Sempra Renewables has one operating lease remaining, with a term of 15 years. Sempra LNG & Midstream recognizes other revenues from: ▪ fees related to contractual counterparty obligations for non-delivery of LNG cargoes, as described above. ▪ |
REGULATORY MATTERS
REGULATORY MATTERS | 12 Months Ended |
Dec. 31, 2018 | |
Regulated Operations [Abstract] | |
Regulatory Matters | REGULATORY MATTERS REGULATORY ASSETS AND LIABILITIES We show the details of regulatory assets and liabilities in the following table and discuss them below. REGULATORY ASSETS (LIABILITIES) (Dollars in millions) December 31, 2018 2017 SDG&E: Fixed-price contracts and other derivatives $ (150 ) $ 96 Deferred income taxes refundable in rates (236 ) (281 ) Pension and other postretirement benefit plan obligations 186 153 Removal obligations (1,848 ) (1,846 ) Unamortized loss on reacquired debt 7 9 Environmental costs 28 29 Sunrise Powerlink fire mitigation 120 119 Regulatory balancing accounts (1) Commodity – electric (8 ) 82 Gas transportation 45 22 Safety and reliability 70 48 Public purpose programs (62 ) (70 ) Other balancing accounts 145 233 Other regulatory liabilities, net (2) (177 ) (70 ) Total SDG&E (1,880 ) (1,476 ) SoCalGas: Pension and other postretirement benefit plan obligations 470 513 Employee benefit costs 49 45 Removal obligations (833 ) (924 ) Deferred income taxes refundable in rates (336 ) (437 ) Unamortized loss on reacquired debt 7 8 Environmental costs 28 22 Workers’ compensation 9 12 Regulatory balancing accounts (1) Commodity – gas, including transportation 196 151 Safety and reliability 332 266 Public purpose programs (325 ) (274 ) Other balancing accounts (68 ) (114 ) Other regulatory liabilities, net (2) (130 ) (64 ) Total SoCalGas (601 ) (796 ) Sempra Mexico: Deferred income taxes recoverable in rates 81 83 Other regulatory assets 6 — Total Sempra Energy Consolidated $ (2,394 ) $ (2,189 ) (1) At December 31, 2018 and 2017 , the noncurrent portion of regulatory balancing accounts – net undercollected for SDG&E was $78 million and $63 million , respectively. At December 31, 2018 and 2017 , the noncurrent portion of regulatory balancing accounts – net undercollected for SoCalGas was $185 million and $118 million , respectively. (2) Includes regulatory assets earning a rate of return. In the table above: ▪ Regulatory assets arising from fixed-price contracts and other derivatives are offset by corresponding liabilities arising from purchased power and natural gas commodity and transportation contracts. The regulatory asset is increased/decreased based on changes in the fair market value of the contracts. It is also reduced as payments are made for commodities and services under these contracts. We discuss fixed-price contracts and other derivatives further in Note 11 . ▪ Deferred income taxes refundable/recoverable in rates are based on current regulatory ratemaking and income tax laws. SDG&E, SoCalGas and Sempra Mexico expect to refund/recover net regulatory liabilities/assets related to deferred income taxes over the lives of the assets that give rise to the related accumulated deferred income tax balances. Regulatory assets include certain income tax benefits associated with flow-through repair allowance deductions, which we discuss further below. ▪ Regulatory assets/liabilities related to pension and other postretirement benefit plan obligations are offset by corresponding liabilities/assets and are being recovered in rates as the plans are funded. ▪ The regulatory asset related to employee benefit costs represents our liability associated with long-term disability insurance that will be recovered from customers in future rates as expenditures are made. ▪ Regulatory liabilities from removal obligations represent cumulative amounts collected in rates for future asset removal costs in excess of cumulative amounts incurred (or paid). ▪ Regulatory assets related to unamortized loss on reacquired debt are recovered over the remaining amortization periods of the losses on reacquired debt. These periods range from 1 year to 9 years for SDG&E and from 3 years to 7 years for SoCalGas. ▪ Regulatory assets related to environmental costs represent the portion of our environmental liability recognized at the end of the period in excess of the amount that has been recovered through rates charged to customers. We expect this amount to be recovered in future rates as expenditures are made. We discuss environmental issues further in Note 16 . ▪ The regulatory asset related to Sunrise Powerlink fire mitigation is offset by a corresponding liability for the funding of a trust to cover the mitigation costs. SDG&E expects to recover the regulatory asset in rates as the trust is funded over a remaining 51 -year period. We discuss the trust further in Note 16 . ▪ The regulatory asset related to workers’ compensation represents accrued costs for future claims that will be recovered from customers in future rates as expenditures are made. ▪ Over- and undercollected regulatory balancing accounts reflect the difference between customer billings and recorded or CPUC-authorized costs, including commodity costs. Depreciation and return on rate base may also be included in certain accounts. Amounts in the balancing accounts are recoverable (receivable) or refundable (payable) in future rates, subject to CPUC approval. Absent balancing account treatment, variations in covered costs, such as the cost of fuel supply and certain O&M costs, from amounts approved by the CPUC would increase volatility in utility earnings. Balancing account treatment eliminates the volatility in earnings that would otherwise result from variances in the covered costs compared to the authorized amounts. Amortization expense on regulatory assets for the years ended December 31, 2018 , 2017 and 2016 was $5 million , $50 million and $65 million , respectively, at Sempra Energy Consolidated, $2 million , $49 million and $63 million , respectively, at SDG&E, and $3 million , $1 million and $2 million , respectively, at SoCalGas. CALIFORNIA UTILITIES CPUC General Rate Case The CPUC uses a GRC proceeding to set sufficient rates to allow the California Utilities to recover their reasonable cost of O&M and to provide the opportunity to realize their authorized rates of return on their investment. 2019 General Rate Case On October 6, 2017, SDG&E and SoCalGas filed their 2019 GRC applications requesting CPUC approval of test year revenue requirements for 2019 and attrition year adjustments for 2020 through 2022. SDG&E and SoCalGas are seeking revenue requirements for 2019 of $2.203 billion and $2.937 billion , respectively, which is an increase of $221 million and $481 million over their respective 2018 revenue requirements (the 2019 proposed and 2018 actual revenue requirements reflect the impact of various updates made during the course of the proceeding). The California Utilities are proposing post-test year revenue requirement annual attrition percentages that are estimated to result in annual increases of approximately 5 percent to 7 percent at SDG&E and approximately 6 percent to 8 percent at SoCalGas. The original GRC applications filed in October 2017 did not reflect the impact of the TCJA, which we discuss below in “2016 General Rate Case” and in Note 8 . In April 2018, SDG&E and SoCalGas updated their applications to reflect the impact of the TCJA and filed a joint proposal to address the impacts. The TCJA impact to SDG&E is a reduction of approximately $58 million to its 2019 test year revenue requirement; however, SDG&E’s 2019 requested revenue requirement is unchanged as we evaluate potentially higher costs associated with mitigating wildfire risks. The TCJA impact to SoCalGas’ 2019 requested revenue requirement is a reduction of approximately $58 million , which is reflected in its updated request. During the course of the proceeding, Cal PA recommended 2019 revenue requirements of $1.918 billion and $2.695 billion for SDG&E and SoCalGas, respectively, which is a net decrease of $64 million for SDG&E and a net increase of $239 million for SoCalGas compared to the 2018 revenue requirements. Cal PA proposes a three-year annual attrition percentage of 4 percent for SDG&E and a range of 4 percent to 5 percent for SoCalGas. Cal PA recommends addressing SDG&E’s potential ownership of OMEC in a separate proceeding. As a result, Cal PA’s proposed 2019 revenue requirement does not include the estimated $68 million associated with owning and operating the generating facility. SDG&E’s potential acquisition of OMEC is subject to a CPUC-approved agreement under which the current owner of the facility can exercise a put option at a designated price. As we discuss in Note 1, SDG&E and OMEC LLC signed a resource adequacy capacity agreement in October 2018, which, if approved by the CPUC on a final and non-appealable basis before the expiration of the put option on April 1, 2019, would result in OMEC LLC waiving its right to exercise the put option. TURN and other intervenors oppose various components of our revenue requirement requests in the 2019 GRC applications. As part of the 2019 GRC, the CPUC reviewed the California Utilities’ interim accountability reports, which compare the authorized and actual spending for certain safety-related activities for 2014 through 2016. In June 2017, SDG&E and SoCalGas filed their first interim accountability reports comparing authorized and actual spending in 2014 and 2015 for certain safety-related activities. Similar data for 2016 was provided with the 2019 GRC application filings in a second interim accountability report filed in October 2017. The stated purpose of the initial interim accountability reports is to provide data and metrics for key safety and risk mitigation areas that will be considered in the 2019 GRC. In October 2018, the CPUC confirmed that the 2014, 2015 and 2016 interim accountability reports were compliant with the requirements and also recommended improvements for subsequent reports. The results of the rate case may materially and adversely differ from what is contained in the GRC applications. We expect a preliminary decision from the CPUC in the first half of 2019. Risk Assessment Mitigation Phase Reporting and Impact on the 2019 GRC Application Filings In December 2014, the CPUC issued a decision incorporating a risk-based decision-making framework into all future GRC application filings for major natural gas and electric utilities in California. In November 2016, as part of the new framework, SDG&E and SoCalGas filed their first RAMP report presenting a comprehensive assessment of their key safety risks and proposed activities for mitigating such risks. The report details these key safety risks, which include critical operational issues such as natural gas pipeline safety and wildfire safety, and addresses their classification, scoring, mitigation, alternatives, safety culture, quantitative analysis, data collection and lessons learned. SDG&E and SoCalGas included funding requests in their respective 2019 GRC filings for proposed projects or activities outlined in their RAMP reports. In April 2018, the CPUC granted SDG&E’s and SoCalGas’ motion to close the proceeding as all RAMP procedures had been completed. In December 2018, the CPUC approved a joint settlement agreement that establishes the required elements for the risk and mitigation analysis to be used in RAMP and GRC proceedings with minor modifications. Senate Bill 549. SB 549 was signed into law in September 2017 and became effective January 1, 2018. The bill requires that SDG&E and SoCalGas (as electric and gas corporations) annually notify the CPUC when revenue authorized by the CPUC for maintenance, safety or reliability is redirected to other purposes. Beginning in December 2018, t he CPUC began incorporating and will continue to incorporate this requirement into the accountability reports. 2016 General Rate Case In June 2016, the CPUC issued a final decision in the 2016 GRC. The 2016 GRC FD adopted a 2016 revenue requirement of $1.791 billion for SDG&E and $2.204 billion for SoCalGas. The 2016 GRC FD was effective retroactive to January 1, 2016, and the California Utilities recorded the retroactive impacts in the second quarter of 2016. The 2016 GRC FD also required certain refunds to be paid to customers and establishes a two-way income tax expense memorandum account, each discussed below. The 2016 GRC FD results in certain accounting impacts associated with flow-through income tax repairs deductions. In general, the 2016 GRC FD considers that the income tax benefits obtained from income tax repairs deductions exceeded amounts forecasted by the California Utilities from 2011 to 2015, and that they were attributed to shareholders during that time. The 2016 GRC FD reallocated the economic benefit of this tax deduction forecasting difference to ratepayers. Accordingly, revenues corresponding to income tax repair deductions that exceeded forecasted amounts were ordered to be refunded to customers. Pursuant to this refund requirement, in 2016, SDG&E and SoCalGas recorded regulatory liabilities for these amounts, resulting in reductions to revenue of $52 million ( $31 million after tax) and $83 million ( $49 million after tax), respectively. The 2016 GRC FD required SDG&E and SoCalGas to each establish a two-way income tax expense memorandum account to track certain revenue variances resulting from certain differences between the income tax expense forecasted in the GRC and the income tax expense incurred from 2016 through 2018. The variances to be tracked include tax expense differences relating to: ▪ net revenue changes; ▪ mandatory tax law, tax accounting, tax procedural, or tax policy changes; and ▪ elective tax law, tax accounting, tax procedural, or tax policy changes. At December 31, 2018 , the recorded regulatory liability associated with these tracked amounts totaled $89 million and $94 million for SDG&E and SoCalGas, respectively. The recorded liability is primarily related to lower income tax expense incurred than was forecasted in the GRC relating to tax repairs deductions, self-developed software deductions and certain book-over-tax depreciation. The tracking accounts will remain open until the CPUC decides to close the accounts, which we expect will be reviewed in the 2019 GRC proceedings. The 2016 GRC FD revenue requirement was authorized using a federal income tax rate of 35 percent . As a result of the TCJA, the federal income tax rate became 21 percent effective January 1, 2018. Since SDG&E and SoCalGas continue to collect authorized revenues based on a 35 percent tax rate, SDG&E and SoCalGas are recording revenue deferrals, aligned with authorized seasonality factors, that reflect the estimated reduction in the revenue requirement. As of December 31, 2018 , SDG&E and SoCalGas recorded regulatory liabilities of $75 million and $68 million , respectively, in anticipation of amounts that will benefit customers in future rates. SDG&E also recorded a $67 million regulatory liability at December 31, 2018 , relating to its FERC jurisdictional rates, in anticipation of amounts that will benefit customers in future rates for the decrease in the federal income tax rate. CPUC Cost of Capital In September 2017, SDG&E and SoCalGas filed advice letters to update their cost of capital for the actual cost of long-term debt through August 2017 and forecasted cost through 2018. SDG&E and SoCalGas did not file for changes to preferred stock costs, because no issuances of preferred stock through 2018 were anticipated. In October 2017, the CPUC approved the embedded cost of debt presented in advice letters filed by SDG&E and SoCalGas, resulting in a revised return on rate base for SDG&E of 7.55 percent and for SoCalGas of 7.34 percent , effective January 1, 2018, as depicted in the table below: AUTHORIZED COST OF CAPITAL AND RATE STRUCTURE – CPUC SDG&E SoCalGas Authorized weighting Return on rate base Weighted rate base Authorized weighting Return on Weighted 45.25 % 4.59 % 2.08 % Long-Term Debt 45.60 % 4.33 % 1.97 % 2.75 6.22 0.17 Preferred Stock 2.40 6.00 0.14 52.00 10.20 5.30 Common Equity 52.00 10.05 5.23 100.00 % 7.55 % 100.00 % 7.34 % The changes to the embedded cost of debt and return on rate base resulting from the updates included in the filed advice letters are summarized below: CHANGES TO THE EMBEDDED COST OF DEBT SDG&E SoCalGas Cost of debt Return on rate base Cost of Return on Previously 5.00 % 7.79 % 5.77 % 8.02 % Authorized, effective January 1, 2018 4.59 % 7.55 % 4.33 % 7.34 % Differences (41 ) bps (24 ) bps (144 ) bps (68 ) bps The costs of long-term debt and the ROEs shown above will remain in effect through December 31, 2019. The cost of capital changes will also apply to capital expenditures in 2019 for incremental projects not funded through the GRC revenue requirement. SDG&E and SoCalGas are required to file cost of capital applications by the end of April 2019 for a January 1, 2020 implementation date. The automatic CCM did not operate in 2018 and will be evaluated in the 2019 cost of capital proceeding. SDG&E FERC Rate Matters and Cost of Capital SDG&E files separately with the FERC for its authorized ROE on FERC-regulated electric transmission operations and assets. SDG&E’s current estimated FERC return on rate base under the TO4 formula rate request filing is 7.51 percent based on its capital structure as follows: SDG&E COST OF CAPITAL AND RATE STRUCTURE – FERC Weighting Return on rate base Weighted return on rate base Long-Term Debt 43.44 % 4.21 % 1.83 % Common Equity 56.56 10.05 5.68 100.00 % 7.51 % FERC Formulaic Rate Filing SDG&E submitted its TO5 filing with the FERC in October 2018 to be effective January 1, 2019, subject to refund. This proceeding will establish the revenue requirement, including rate of return, for SDG&E’s FERC-regulated electric transmission operations and assets. SDG&E’s TO5 filing proposes to continue most aspects of its existing FERC-authorized formula rate. SDG&E’s TO5 filing is requesting: (1) rates to be determined by a base period of historical costs and a forecast of capital investments, (2) a true-up period, which is similar to a balancing account that is designed to provide SDG&E earnings of no more and no less than its actual cost of service including its authorized return on investment, (3) a true-up of accumulated deferred income tax and (4) a refund of amounts collected in rates in 2018 that presumed a 35 percent federal income tax rate. The net impact of our TO5 filing is a revenue requirement of $911 million , an increase in rates of $88 million , or 10.6 percent , above 2018’s revenue requirement. This TO5 proceeding will also set SDG&E’s authorized FERC ROE. SDG&E’s current authorized FERC ROE is 10.05 percent , and SDG&E’s TO5 filing proposes a FERC ROE of 11.2 percent . On December 31, 2018, the FERC issued its order accepting and suspending the TO5 filing and establishing hearing and settlement judge procedures. In the order, the FERC suspended the TO5 filing for five months, during which the existing TO4 rates will remain in effect. After the suspension period ends, the proposed TO5 rates will take effect, subject to refund and the outcome of the hearing and settlement judge procedures. A FERC settlement judge has been appointed, and we expect settlement conferences to begin in the first quarter of 2019. SEMPRA SOUTH AMERICAN UTILITIES Luz del Sur serves primarily regulated customers in Peru and revenues are based on rates set by the OSINERGMIN. The rates are reviewed and adjusted every four years. OSINERGMIN’s final distribution rate-setting resolution for the 2018-2022 period was published on October 16, 2018 and went into effect on November 1, 2018. The resolution decreases the rates Luz del Sur can charge its regulated customers, resulting in a modest reduction in regulated revenues per annum. Luz del Sur submitted a petition for reconsideration to the regulator in November 2018 and obtained a favorable response in late December 2018 that reduces the negative impact to rates from the resolution published on October 16, 2018. The adjustment is retroactive to November 1, 2018. Chilquinta Energía serves regulated and unregulated customers in Chile. Distribution revenues and rates are reviewed and set by the CNE every four years; the most recent review process was completed in November 2016, covering the period from November 2016 through October 2020. On September 28, 2018, a distribution interim rate case, which included an adjustment to rates, was approved to allow adequate recovery of the incremental investment, including the deployment of smart meters to all customers, necessary to comply with the new distribution standards set by the CNE in December 2017. These interim adjusted rates will be applicable from September 28, 2018 through October 2020. Chilquinta Energía’s most recent review process for zonal transmission rates was completed in September 2017. The final decree approving the rates was published on October 5, 2018. The authorized transmission rates will cover the period from January 2018 through December 2019. As we discuss in Note 5 , Chilquinta Energía acquired CTNG in December 2018. CTNG owns both national and zonal transmission assets. CTNG’s most recent review process for national transmission rates was completed in 2015 and covers the period from January 2016 to December 2019. The review process for zonal transmission rates was completed in 2017 and covers the periods from January 2018 to December 2019. SEMPRA MEXICO On July 23, 2018, the CRE adjusted Ecogas’ natural gas distribution rates charged to end-users in 2014 through 2016. Ecogas recorded a regulatory asset of $7 million SDG&E has a 20 -percent ownership interest in SONGS, a nuclear generating facility near San Clemente, California, which ceased operations in June 2013. On June 6, 2013, after an extended outage beginning in 2012, as a result of issues with the steam generators used in the facility, Edison, the majority owner and operator of SONGS, notified SDG&E that it had reached a decision to permanently retire SONGS and seek approval from the NRC to start the decommissioning activities for the entire facility. SONGS is subject to the jurisdiction of the NRC and the CPUC . SDG&E, and each of the other owners, holds its undivided interest as a tenant in common in the property. Each owner is responsible for financing its share of costs. SDG&E’s share of operating expenses is included in Sempra Energy’s and SDG&E’s Consolidated Statements of Operations. SONGS STEAM GENERATOR REPLACEMENT PROJECT The replacement steam generators, which caused a water leak due to unexpected tube wear, were designed and provided by MHI. In 2013, Edison instituted arbitration proceedings against MHI seeking recovery of damages resulting from the issues with the steam generators used in SONGS Units 2 and 3. The other SONGS co-owners, SDG&E and the City of Riverside, participated as claimants and respondents. On March 13, 2017, the International Chamber of Commerce International Court of Arbitration Tribunal (the Tribunal) overseeing the arbitration found MHI liable for breach of contract, subject to a contractual limitation of liability, and rejected claimants’ other claims. The Tribunal awarded $118 million in damages to the SONGS co-owners, but determined that MHI was the prevailing party and awarded it 95 percent of its arbitration costs. The damage award is offset by these costs, resulting in a net award of approximately $60 million in favor of the SONGS co-owners. SDG&E’s specific allocation of the damage award is $24 million reduced by costs awarded to MHI of approximately $12 million , resulting in a net damage award of $12 million , which was paid by MHI to SDG&E in March 2017. In accordance with the Amended Settlement Agreement discussed below, SDG&E recorded the proceeds from the MHI arbitration by reducing O&M for previously incurred legal costs of $11 million , and shared the remaining $1 million equally between ratepayers and shareholders. SETTLEMENT AGREEMENT TO RESOLVE THE CPUC’S ORDER INSTITUTING INVESTIGATION INTO THE SONGS OUTAGE In 2012, in response to the SONGS outage, the CPUC issued the SONGS OII, which was intended to determine the ultimate recovery of the investment in SONGS and the costs incurred since the commencement of this outage. In 2014, the CPUC issued a final decision approving an Amended Settlement Agreement which provided for various disallowances, refunds and rate recoveries, including authorizing SDG&E to recover in rates its remaining investment in SONGS, excluding its investment in the Steam Generator Replacement Project. In 2016, the CPUC issued two procedural rulings: the first, to reopen the record of the OII to address the issue of whether the Amended Settlement Agreement is reasonable and in the public interest, and the second, directing parties to the SONGS OII to determine whether an agreement could be reached to modify the Amended Settlement Agreement previously approved by the CPUC, to resolve allegations that unreported ex parte communications between Edison and the CPUC resulted in an unfair advantage at the time the settlement agreement was negotiated. In July 2018, the CPUC approved a Revised Settlement Agreement among SDG&E, Edison, Cal PA, TURN and other intervenors that resolved all issues under consideration in the SONGS OII and made one modification to the Amended Settlement Agreement to remove the requirement to fund a GHG emissions reduction research program. In August 2018, parties to the Revised Settlement Agreement submitted a notice that they accepted the settlement agreement, as modified. In connection with the Revised Settlement Agreement, and in exchange for the release of certain SONGS-related claims, SDG&E and Edison entered into the Utility Shareholder Agreement, described below. Disallowances, Refunds and Recoveries Under the Revised Settlement Agreement, SDG&E and Edison ceased rate recovery of SONGS costs as authorized under the Amended Settlement Agreement as of December 19, 2017, when the present value of their combined remaining SONGS regulatory assets equaled $775 million , of which $152 million represents SDG&E’s share. Under the Utility Shareholder Agreement, Edison is obligated to pay SDG&E the full amount of SDG&E’s revenue requirement not recovered from ratepayers, as described below. In October 2018, SDG&E began refunding to customers SONGS-related amounts recovered in rates after December 19, 2017. Utility Shareholder Agreement In January 2018, SDG&E and Edison entered into the Utility Shareholder Agreement under which Edison has an obligation to compensate SDG&E for the revenue requirement amounts that SDG&E will no longer recover because of the Revised Settlement Agreement. In exchange for Edison’s reimbursement, the parties mutually released each other from the “SONGS Issues,” a defined term that consists of 18 broad categories. The effect of the agreement is that the parties released each other from any and all claims that each party had or could have asserted related to the steam generator replacement failure and its aftermath. The Utility Shareholder Agreement became effective upon CPUC approval of the Revised Settlement Agreement. Edison’s payment obligation commenced in October 2018, and amounts are due to SDG&E quarterly thereafter until April 2022. At December 31, 2018, SDG&E has a receivable from Edison, including accrued interest, totaling $124 million , with $40 million classified as current and $84 million classified as noncurrent. This receivable reflects amounts Edison is obligated to pay to SDG&E in lieu of amounts SDG&E would have collected from ratepayers associated with the SONGS regulatory asset. NUCLEAR DECOMMISSIONING AND FUNDING As a result of Edison’s decision to permanently retire SONGS Units 2 and 3, Edison began the decommissioning phase of the plant. Decommissioning of Unit 1, removed from service in 1992, is largely complete. The remaining work for Unit 1 will be done once Units 2 and 3 are dismantled and the spent fuel is removed from the site. Edison contracted with a JV of AECOM and EnergySolutions (known as SONGS Decommissioning Solutions) as the general contractor to complete the dismantlement of SONGS. The majority of the dismantlement work is expected to take 10 years . SDG&E is responsible for approximately 20 percent of the total contract price. In accordance with state and federal requirements and regulations, SDG&E has assets held in the NDT to fund its share of decommissioning costs for SONGS Units 1, 2 and 3. The amounts collected in rates for SONGS’ decommissioning are invested in the NDT, which is comprised of externally managed trust funds. Amounts held by the NDT are invested in accordance with CPUC regulations. The NDT assets are presented on the Sempra Energy and SDG&E Consolidated Balance Sheets at fair value with the offsetting credits recorded in noncurrent Regulatory Liabilities. In March 2018, SDG&E and Edison jointly filed an application requesting CPUC approval of revised remaining decommissioning cost estimates (for costs estimated to be incurred in 2018 and beyond) for SONGS Unit 1 of $207 million (in 2014 dollars), of which SDG&E’s share is $41 million , and SONGS Units 2 and 3 of $3.2 billion (in 2014 dollars), of which SDG&E’s share is $638 million . In addition, SDG&E has estimated internal decommissioning costs (for costs estimated to be incurred in 2018 and beyond) of $3 million (in 2014 dollars) for SONGS Unit 1 and $43 million (in 2014 dollars) for SONGS Units 2 and 3. Except for the use of funds for the planning of decommissioning activities or NDT administrative costs, CPUC approval is required for SDG&E to access the NDT assets to fund SONGS decommissioning costs for Units 2 and 3. SDG&E has received authorization from the CPUC to access NDT funds of up to $455 million for 2013 through 2019 (2019 forecasted) SONGS decommissioning costs. This includes up to $93 million authorized by the CPUC in January 2019 to be withdrawn from the NDT for forecasted 2019 SONGS Units 2 and 3 costs as decommissioning costs are incurred. In December 2018, the CPUC issued a final decision finding the decommissioning cost estimates for SONGS Unit 1 generally reasonable with certain disallowances. The decision also found $136 million (in 2014 dollars) of SONGS Units 2 and 3 decommissioning expenses for 2014 and $222 million (in 2014 dollars) of SONGS Units 2 and 3 decommissioning expenses for 2015 to be reasonable. In December 2016, the IRS and the U.S. Department of the Treasury issued proposed regulations that clarify the definition of “nuclear decommissioning costs,” which are costs that may be paid for or reimbursed from a qualified trust fund. The proposed regulations state that costs related to the construction and maintenance of independent spent fuel management installations are included in the definition of “nuclear decommissioning costs.” The proposed regulations will be effective prospectively once they are finalized; however, the IRS has stated that it will not challenge taxpayer positions consistent with the proposed regulations for taxable years ending on or after the date the proposed regulations were issued. SDG&E is awaiting the adoption of, or additional refinement to, the proposed regulations before determining whether the proposed regulations will allow SDG&E to access the NDT funds for reimbursement or payment of the spent fuel management costs incurred in 2017 and subsequent years. Further clarification of the proposed regulations could enable SDG&E to access the NDT to recover spent fuel management costs before Edison reaches final settlement with the DOE regarding the DOE’s reimbursement of these costs. Historically, the DOE’s reimbursements of spent fuel storage costs have not resulted in timely or complete recovery of these costs. We discuss the DOE’s responsibility for spent nuclear fuel below. The IRS held public hearings on the proposed regulations in October 2017. It is unclear when clarification of the proposed regulations might be provided or when the proposed regulations will be finalized. Nuclear Decommissioning Trusts The amounts collected in rates for SONGS’ decommissioning are invested in the NDT, which is comprised of externally managed trust funds. Amounts held by the trusts are invested in accordance with CPUC regulations. These trusts are shown on the Sempra Energy and SDG&E Consolidated Balance Sheets at fair value with the offsetting credits recorded in noncurrent Regulatory Liabilities. The following table shows the fair values and gross unrealized gains and losses for the securities held in the NDT. We provide additional fair value disclosures for the NDT in Note 12 . NUCLEAR DECOMMISSIONING TRUSTS (Dollars in millions) Cost Gross unrealized gains Gross unrealized losses Estimated fair value At December 31, 2018: Debt securities: Debt securities issue |
ACQUISTION AND DIVESTITURE ACTI
ACQUISTION AND DIVESTITURE ACTIVITY | 12 Months Ended |
Dec. 31, 2018 | |
Business Combinations [Abstract] | |
Acquistion and divestiture activity | ACQUISITION AND DIVESTITURE ACTIVITY We consolidate assets acquired and liabilities assumed as of the purchase date and include earnings from acquisitions in consolidated earnings after the purchase date. ACQUISITIONS SEMPRA TEXAS UTILITY After satisfying all conditions precedent, including final approval from the PUCT, on March 9, 2018, Sempra Energy completed the acquisition of an indirect, 100 -percent interest in Oncor Holdings, which owned 80.03 percent of Oncor, and other EFH assets and liabilities unrelated to Oncor, pursuant to the Merger Agreement with EFH. Oncor is a regulated electric transmission and distribution business that operates the largest transmission and distribution system in Texas. This acquisition expanded our regulated earnings base, and may serve as a platform for future growth in the Texas energy market. Under the Merger Agreement, we paid Merger Consideration of $9.45 billion in cash and an additional $31 million representing an adjustment for dividends and payments pursuant to a tax sharing agreement with Oncor and Oncor Holdings. Also on March 9, 2018, in a separate transaction, Sempra Energy, through its interest in Oncor Holdings, acquired an additional 0.22 percent of the outstanding membership interests in Oncor from OMI for approximately $26 million in cash, bringing Sempra Energy’s indirect ownership in Oncor to 80.25 percent . TTI, an investment vehicle indirectly owned by third parties unaffiliated with Oncor Holdings or Sempra Energy, continues to own 19.75 percent of Oncor’s outstanding membership interests. Pursuant to the Merger Agreement, the reorganized EFH (renamed Sempra Texas Holdings Corp.) merged with an indirect subsidiary of Sempra Energy, with Sempra Texas Holdings Corp. continuing as the surviving company and an indirect, wholly owned subsidiary of Sempra Energy. Sempra Texas Holdings Corp. wholly owns EFIH (renamed Sempra Texas Intermediate Holding Company LLC), which holds our 100 -percent interest in Oncor Holdings. Sempra Texas Intermediate Holding Company LLC is included in our newly formed Sempra Texas Utility reportable segment. Other assets and liabilities unrelated to Oncor that were acquired with Sempra Texas Holdings Corp. have been subsumed into our parent organization, Parent and other. Due to ring-fencing measures, existing governance mechanisms and commitments in effect following the Merger, we do not have the power to direct the significant activities of Oncor Holdings and Oncor. Consequently, we account for our 100 -percent ownership interest in Oncor Holdings as an equity method investment. See Note 6 for additional information about our equity method investment in Oncor Holdings and related ring-fencing measures. The Sempra Texas Utility reportable segment comprises: The foregoing is a simplified ownership structure that does not show all the subsidiaries of, or other equity interests owned by, these entities. I n anticipation of the Merger, in January 2018, we completed registered public offerings of our common stock (including shares offered pursuant to forward sale agreements), series A preferred stock and long-term debt, as we discuss in Notes 7 , 13 and 14 . These offerings provided total initial net proceeds of approximately $7.0 billion for partial funding of the Merger Consideration, of which approximately $800 million was used to pay down commercial paper, pending the closing of the Merger. On March 8, 2018, to fund a portion of the Merger Consideration, we settled approximately $900 million (net of underwriting discounts of $16 million ) of forward sales under the forward sale agreements entered into in connection with the public offering of common stock in January 2018 by delivery of 8,556,630 shares of newly issued Sempra Energy common stock, as we discuss in Note 14 . We raised the remaining portion of the Merger Consideration through issuances of approximately $2.6 billion in commercial paper with a weighted-average maturity of 47 days and a weighted-average interest rate of 2.2 percent per annum. The total purchase price paid was comprised of the following: • $9,450 million of Merger Consideration; • $31 million adjustment for dividends and payments pursuant to a tax sharing agreement with Oncor and Oncor Holdings; • $26 million paid in a separate transaction to acquire an additional 0.22 percent of the outstanding membership interests in Oncor from OMI; and • $59 million of transaction costs included in the basis of our investment in Oncor Holdings. We accounted for the Merger as an asset acquisition, as the equity method investment in Oncor Holdings represents substantially all of the fair value of the gross assets acquired. The following table sets forth the allocation of the total purchase price paid to the identifiable assets acquired and liabilities assumed. PURCHASE PRICE ALLOCATION (Dollars in millions) At March 9, 2018 (1) Assets acquired: Accounts receivable – other, net $ 1 Due from unconsolidated affiliates 46 Investment in Oncor Holdings 9,227 Deferred income tax assets 287 Other noncurrent assets 109 Total assets acquired 9,670 Liabilities assumed: Other current liabilities 23 Pension and other postretirement benefit plan obligations 21 Deferred credits and other 58 Total liabilities assumed 102 Net assets acquired $ 9,568 Total purchase price paid $ 9,568 (1) In the fourth quarter of 2018, we received additional information regarding deferred income taxes related to the resolution of claims in EFH’s emergence from bankruptcy as of the acquisition date. As a result, we recorded an adjustment to increase our investment in Oncor Holdings by $64 million , decrease deferred income tax assets by $66 million and decrease deferred credits and other liabilities by $2 million . Also in the fourth quarter of 2018, we recorded $2 million of additional purchase price paid related to additional transaction costs. The fair value of the equity method investment in Oncor Holdings is primarily attributable to Oncor’s business. Therefore, we considered the underlying assets and liabilities of Oncor when determining the fair value of our equity method investment. As a regulated entity, Oncor’s rates are set and approved by the PUCT, and are designed to recover the cost of providing service and the opportunity to earn a reasonable return on its investments. Accordingly, Oncor applies the guidance under the provisions of U.S. GAAP governing rate-regulated operations. Under U.S. GAAP, regulation is viewed as being a characteristic (restriction) of a regulated entity’s assets and liabilities, and the impact of regulation is considered a fundamental input to measuring the fair value of Oncor’s assets and liabilities. Under this premise, we concluded that the carrying values of all assets and liabilities recoverable through rates are representative of their fair values. SEMPRA SOUTH AMERICAN UTILITIES Compañía Transmisora del Norte Grande S.A . Background and Financing . On December 18, 2018, Chilquinta Energía acquired a 100 -percent interest in CTNG through a sales and purchase agreement with AES Gener S.A. and its subsidiary Sociedad Eléctrica Angamos S.A. CTNG owns regulated transmission assets in the Valparaiso, Metropolitana and Antofagasta regions of Chile. The fully operating transmission assets include a 114-mile, 110 -kV single-circuit transmission line, an 82-mile, 220 -kV double-circuit transmission line, substations and other transmission assets. CTNG’s regulated revenues are based on tariffs that are set by the CNE and are reviewed by the CNE every four years. This business acquisition aligns with Chilquinta Energía’s business model of owning and operating regulated transmission and distribution assets. We completed the acquisition for a purchase price of $226 million . We paid the purchase price of $208 million (net of $18 million cash acquired) with available cash on hand at Sempra South American Utilities. Purchase Price Allocation. We accounted for this business combination using the acquisition method of accounting whereby the total fair value of the business acquired is allocated to identifiable assets acquired and liabilities assumed based on their respective fair values, with any excess recognized as goodwill at the Sempra South American Utilities reportable segment. None of the goodwill is expected to be deductible in Chile or in the U.S. for income tax purposes. The following table summarizes the fair value of the CTNG business combination and the preliminary purchase price allocation of the assets acquired and liabilities assumed at the date of acquisition: PRELIMINARY PURCHASE PRICE ALLOCATION (Dollars in millions) At December 18, 2018 Assets acquired: Cash and cash equivalents $ 18 Other assets 5 Other intangible assets 46 Property, plant and equipment 162 Total assets acquired 231 Liabilities assumed: Other current liabilities 1 Deferred income taxes 42 Total liabilities assumed 43 Total identifiable net assets acquired 188 Goodwill 38 Total purchase price paid $ 226 At December 31, 2018, the purchase price allocation was preliminary and subject to completion. Adjustments to the current fair value estimates in the above table may occur as the process conducted for various valuations and assessments is finalized, primarily related to deferred income taxes. During the measurement period, which may be up to one year from the acquisition date, we may record adjustments to the assets acquired and liabilities assumed with a corresponding offset to goodwill. Valuation of CTNG’s Assets and Liabilities . The fair values of the tangible and intangible assets acquired and liabilities assumed were recognized based on their preliminary values at the acquisition date. Significant inputs used to measure the fair values of the acquired PP&E and intangible assets are as follows: ▪ PP&E - We applied an income approach using market-based discounted cash flows. We used discounted free cash flows on revenues established by the most recent regulatory rate case, which was determined to reflect the fair value of PP&E. ▪ Intangible assets - CTNG holds concession permits that allow it to operate transmission lines and substations into perpetuity. We applied an income approach using market-based discounted cash flows. To estimate the fair value of the concession permits, we estimated the fair value of each transmission line and substation business enterprise assuming that they will operate into perpetuity. We then subtracted the corresponding fair value of the PP&E from each transmission line and substation business enterprise value to estimate the value attributable to the concession permits. Additionally, we recognized deferred income taxes on CTNG’s existing NOLs and for the difference between fair values and tax bases of the net assets acquired using the Chilean statutory tax rate. For substantially all other assets and liabilities, we determined that historical carrying value approximates fair value due to their short-term nature. Impact on Operating Results. We incurred negligible acquisition costs in the year ended December 31, 2018, which are included in O&M on the Sempra Energy Consolidated Statement of Operations. For the year ended December 31, 2018, the Sempra Energy Consolidated Statement of Operations includes $1 million of revenues and negligible earnings from CTNG since the December 18, 2018 date of acquisition. Unaudited Pro Forma Information The following table represents unaudited pro forma information for the years ended December 31, 2018 and 2017, combining the historical results of operations of Sempra Energy and CTNG as though the acquisition occurred on January 1, 2017. The pro forma information is not necessarily indicative of results that would have been achieved had the business been combined during the periods presented or the results that we would expect going forward. UNAUDITED PRO FORMA INFORMATION – SEMPRA ENERGY CONSOLIDATED (Dollars in millions) Years ended December 31, 2018 2017 Total revenues $ 11,703 $ 11,224 Net income 1,130 356 Earnings attributable to common shares 928 261 The unaudited pro forma information above assumes the loss of interest income on cash on hand used to fund the acquisition in all periods presented. Also, as a result of discrete historical financial information not being available for 2017, CTNG’s income statement for 2017 was estimated using the 2018 income statement, primarily adjusted for expected changes in inflation and regulatory rates. SEMPRA MEXICO 2018 Acquisitions Trafigura Mexico, S.A. de C.V. On September 26, 2018, Sempra Mexico acquired a 51 -percent interest (with an option to increase its ownership interest to 82.5 percent) in a subsidiary of Trafigura Mexico, S.A. de C.V. that owns certain permits and land where the Manzanillo Terminal will be built. We consolidate this subsidiary and report NCI for the 49 -percent ownership interest held by Trafigura Mexico, S.A. de C.V. IEnova intends to invest $102 million to $165 million (depending on ownership interest) to develop, construct and operate the Manzanillo Terminal, a marine terminal for the receipt, storage and delivery of refined products located in Colima, Mexico. IEnova and Trafigura Mexico, S.A. de C.V. also entered into a long-term, U.S. dollar-denominated terminal services agreement for 50 percent of the terminal’s initial storage capacity of 1.48 million barrels. We expect operations to commence in the fourth quarter of 2020. Don Diego Solar Netherlands B.V. (formerly known as Fisterra Energy Netherlands II, B.V.) On February 28, 2018, Sempra Mexico completed the asset acquisition of Don Diego Solar Netherlands B.V., for a purchase price of $5 million . Substantially all of the fair value of the gross assets acquired is attributable to a self-supply permit that allows generators to compete directly with the CFE’s retail tariffs and, thus, have access to PPAs with a competitive pricing position. IEnova intends to invest $130 million to develop, construct and operate the Don Diego Solar Complex, a 125 -MW solar facility in Sonora, Mexico. IEnova entered into a 15 -year, U.S. dollar-denominated PPA with various subsidiaries of El Puerto de Liverpool, S.A.B. de C.V., for a portion of the capacity. We expect operations to commence in the second half of 2019. 2017 Acquisition Ductos y Energéticos del Norte, S. de R.L. de C.V. On November 15, 2017, IEnova completed the asset acquisition of PEMEX’s 50 -percent interest in DEN, a JV that holds a 50 -percent interest in the Los Ramones Norte pipeline through TAG, for a purchase price of $165 million (exclusive of $18 million of cash and cash equivalents acquired), plus the assumption of $96 million of short-term debt. This acquisition increased IEnova’s ownership interest in DEN through IEnova Pipelines from 50 percent to 100 percent , and increased IEnova’s indirect ownership interest in TAG from 25 percent to 50 percent . IEnova Pipelines previously accounted for its 50 -percent interest in DEN as an equity method investment. At closing, DEN became a wholly owned, consolidated subsidiary of IEnova Pipelines. DEN will continue to account for its interest in TAG as an equity method investment. This acquisition also included a $66 million intangible asset that represents a favorable O&M agreement, which has an amortization period of 23 years . 2016 Acquisitions The following table summarizes the total fair value of the 2016 business combinations at Sempra Mexico, described below, and the final purchase price allocations of the assets acquired and liabilities assumed at the dates of acquisition: PURCHASE PRICE ALLOCATIONS (Dollars in millions) IEnova Pipelines Ventika At September 26, 2016 (1) At December 14, 2016 (2) Fair value of business combination: Cash consideration (fair value of total consideration) $ 1,144 $ 310 Fair value of equity interest in IEnova Pipelines immediately prior to acquisition 1,144 — Total fair value of business combination $ 2,288 $ 310 Assets acquired: Cash and cash equivalents $ 66 $ — Restricted cash — 68 Accounts receivable 39 14 Other current assets 6 1 Other intangible assets — 154 Deferred income taxes — 36 Regulatory assets 33 — Property, plant and equipment 1,248 673 Other noncurrent assets 1 3 Total assets acquired 1,393 949 Liabilities assumed: Short-term debt — 125 Accounts payable 11 1 Due to unconsolidated affiliates 3 — Current portion of long-term debt 49 7 Fixed-price contracts and other derivatives, current 6 4 Other current liabilities 20 8 Long-term debt 315 478 Asset retirement obligations 5 2 Deferred income taxes 127 120 Fixed-price contracts and other derivatives, noncurrent 19 10 Other noncurrent liabilities 11 — Total liabilities assumed 566 755 Total identifiable net assets acquired 827 194 Goodwill 1,461 116 Total fair value of business combination $ 2,288 $ 310 (1) During the fourth quarter of 2016, we received additional information regarding IEnova Pipelines’ deferred income taxes as of the acquisition date, primarily related to basis differences in IEnova Pipelines’ PP&E. As a result, we recorded measurement period adjustments that resulted in a net increase to goodwill of $86 million , an increase in deferred income tax liabilities of $119 million and $33 million of regulatory assets related to deferred income taxes on AFUDC. (2) During the fourth quarter of 2017, we received additional information regarding Ventika’s deferred income taxes as of the acquisition date, primarily related to net operating loss carryforwards. As a result, we recorded a measurement period adjustment that resulted in a decrease to goodwill and an increase in deferred income tax assets of $13 million . IEnova Pipelines, S. de R.L. de C.V. (formerly known as Gasoductos de Chihuahua, S. de R.L. de C.V., or GdC) Background and Financing. On September 26, 2016, IEnova completed the acquisition of PEMEX’s 50 -percent interest in IEnova Pipelines, which develops and operates energy infrastructure in Mexico, for a purchase price of $1.144 billion (exclusive of $66 million of cash and cash equivalents acquired), plus the assumption of $364 million of long-term debt, increasing IEnova’s ownership interest in IEnova Pipelines to 100 percent . IEnova Pipelines became a consolidated subsidiary of IEnova on this date. Prior to the acquisition date, IEnova owned 50 percent of IEnova Pipelines and accounted for its interest as an equity method investment. The assets involved in the acquisition included three natural gas pipelines, an ethane pipeline, and a liquid petroleum gas pipeline and associated storage terminal. The transaction excluded the Los Ramones Norte pipeline, in which IEnova continued to hold an indirect 25 -percent ownership interest through IEnova Pipelines’ interest in DEN until November 2017, as we discuss above. IEnova paid $1.078 billion in cash ( $1.144 billion purchase price less $66 million of cash and cash equivalents acquired), which was funded using interim financing provided by Sempra Global through a $1.15 billion bridge loan to IEnova. Sempra Global funded the majority of the transaction using commercial paper borrowings. As we discuss in Note 1 , in October 2016, IEnova completed a private follow-on offering of its common stock in the U.S. and outside of Mexico and a concurrent public common stock offering in Mexico. IEnova used a portion of the net proceeds from the offerings to fully repay the Sempra Global bridge loan. Purchase Price Allocation. We accounted for this business combination using the acquisition method of accounting whereby the total fair value of the business acquired is allocated to identifiable assets acquired and liabilities assumed based on their respective fair values, with any excess recognized as goodwill at the Sempra Mexico reportable segment. None of the goodwill is expected to be deductible in Mexico or the U.S. for income tax purposes. Gain on Remeasurement of Equity Method Investment. In the year ended December 31, 2016, we recorded a pretax gain of $617 million ( $432 million after-tax) for the excess of the acquisition-date fair value of Sempra Mexico’s previously held equity interest in IEnova Pipelines over the carrying value of that interest, included as Remeasurement of Equity Method Investment on the Sempra Energy Consolidated Statement of Operations. We used a market approach to measure the acquisition-date fair value of IEnova’s equity interest in IEnova Pipelines immediately prior to the business acquisition. We discuss non-recurring fair value measures and the associated accounting impact of the IEnova Pipelines acquisition in Note 12 . Valuation of IEnova Pipelines’ Assets and Liabilities. Based on the nature of the Mexico regulatory environment and the oversight surrounding the establishment and maintenance of rates that IEnova Pipelines charges for services on its assets, IEnova Pipelines applies the guidance under the provisions of U.S. GAAP governing rate-regulated operations. Therefore, when determining the fair value of the acquired assets and liabilities assumed, we considered the effect of regulation on a market participant’s view of the highest and best use of the assets, in particular for the fair value of IEnova Pipelines’ PP&E. Under U.S. GAAP, regulation is viewed as being a characteristic (restriction) of a regulated entity’s PP&E, and the impact of regulation is considered a fundamental input to measuring the fair value of PP&E in a business combination involving a regulated business. Under this premise, the fair value of the PP&E of a regulated business is generally assumed to be equivalent to carrying value for financial reporting purposes. Management concluded that the carrying value of IEnova Pipelines’ PP&E is representative of fair value. We applied an income approach, specifically the discounted cash flow method, to measure the fair value of debt and derivatives. We valued debt by discounting future debt payments by a market yield, and we valued derivatives by discounting the future interest payments under the fixed and floating rates using current market data. For substantially all other assets and liabilities, we determined that historical carrying value approximates fair value due to their short-term nature. Impact on Operating Results. We incurred acquisition costs of $4 million for the year ended December 31, 2016, which are included in O&M on the Sempra Energy Consolidated Statement of Operations. For the year ended December 31, 2016, the Sempra Energy Consolidated Statement of Operations includes $82 million of revenues and $33 million of earnings (after NCI) from IEnova Pipelines since the September 26, 2016 date of acquisition. Ventika, S.A.P.I. de C.V. and Ventika II, S.A.P.I. de C.V. Background and Financing. On December 14, 2016, IEnova acquired 100 percent of the equity interests in the Ventika wind power generation facilities for cash consideration of $310 million and the assumption of $610 million of existing debt. Ventika is a 252 -MW wind farm located in Nuevo Leon, Mexico, that began commercial operations in April 2016. All of Ventika’s generation capacity is contracted under 20 -year, U.S. dollar-denominated PPAs with five private off-takers. The acquisition was funded using $50 million of net proceeds from the IEnova equity offerings that we discuss in Note 1, $250 million of borrowings against Sempra Mexico’s revolving credit facility, and $10 million of available cash at IEnova. The acquisition also included $68 million of restricted cash that represents funds set aside for servicing debt, operations and other costs pursuant to the long-term debt agreements. Purchase Price Allocation. We accounted for this business combination using the acquisition method of accounting whereby the total fair value of the business acquired is allocated to identifiable assets acquired and liabilities assumed based on their respective fair values, with any excess recognized as goodwill at the Sempra Mexico reportable segment. None of the goodwill is expected to be deductible in Mexico or in the U.S. for income tax purposes. Valuation of Ventika’s Assets and Liabilities. The fair values of the tangible and intangible assets acquired and liabilities assumed were recognized based on their preliminary values at the acquisition date. Significant inputs used to measure the fair values of the acquired PP&E, intangible asset, debt and derivatives are as follows: ▪ PP&E – We applied an income approach using market-based discounted cash flows. We used the pricing included in the existing PPAs, which was determined to reflect current market rates in the Mexican renewable energy market. ▪ Intangible asset – Ventika is the holder of a renewable energy transmission and consumption permit that allows it to transmit its generated power to various locations within Mexico at beneficial rates and reduces the administrative burden to manage transmitting power to off-takers. With recent renewable energy market reforms in Mexico, these transmission and consumption permits are no longer available, resulting in higher tariffs for generators. We applied an income approach based on a cash flow differential approach that measures the fair value of the transmission rights by comparing the operating expenses under the transmission and consumption permit as compared to under the new, higher tariffs. This acquired intangible asset has an amortization period of 19 years , reflecting the remaining life of the transmission and consumption transmission permit at the time of acquisition. ▪ Debt – Using an income approach, we valued debt by discounting future debt payments by a market yield commensurate with the remaining term of the loans. ▪ Derivatives – Using an income approach, we valued derivatives by discounting the future interest payments under the fixed and floating rates using current market data. Additionally, we recognized deferred income taxes on Ventika’s existing NOLs and the difference between the fair values and tax bases of the net assets acquired using the Mexican statutory rate. For substantially all other assets and liabilities, we determined that historical carrying value approximates fair value due to their short-term nature. Impact on Operating Results. We incurred acquisition costs of $1 million in the year ended December 31, 2016, which are included in O&M on the Sempra Energy Consolidated Statement of Operations. For the year ended December 31, 2016, the Sempra Energy Consolidated Statement of Operations includes $4 million of revenues and $3 million of earnings (after NCI) from Ventika since the December 14, 2016 date of acquisition. SEMPRA RENEWABLES On July 10, 2017, Sempra Renewables paid $124 million in cash for an asset acquisition of a portfolio of four solar projects located in Fresno County, California, that were under construction. Completed in 2018, the facilities were sold to a subsidiary of Con Ed in December 2018, as we discuss below. In July 2016, Sempra Renewables acquired a 100 -percent interest in a 100 -MW wind farm in Huron County, Michigan, with a 15 -year PPA, for a total purchase price of $22 million . Sempra Renewables paid $18 million in cash on the acquisition date and paid the remaining $4 million in cash on achievement of certain construction milestones in the fourth quarter of 2016. We placed this wind farm into service in November 2017. This facility is currently included in a plan of sale that we discuss below. PENDING ACQUISITION SEMPRA ENERGY Sempra Texas Utility On October 18, 2018, Oncor entered into the InfraREIT Merger Agreement, whereby Oncor has agreed to acquire 100 percent of the issued and outstanding shares of InfraREIT and 100 percent of the limited partnership units of its subsidiary, InfraREIT Partners, for approximately $1,275 million , or $21 per share and unit, plus approximately $40 million for a management agreement termination fee, as well as other customary transaction costs incurred by InfraREIT that would be borne by Oncor as part of the acquisition. In addition, the transaction includes InfraREIT’s outstanding debt, which as of September 30, 2018 was approximately $945 million . Consummation of the InfraREIT Merger Agreement is subject to the satisfaction of certain closing conditions, including the substantially concurrent consummation of the transactions contemplated by the Asset Exchange Agreement and Securities Purchase Agreement, discussed below. On October 18, 2018, Oncor entered into the Asset Exchange Agreement, whereby SDTS has agreed to accept and assume certain assets and liabilities of SU in exchange for certain SDTS assets. As currently contemplated, SDTS would receive certain real property and other assets used in the electric transmission and distribution business in Central, North and West Texas, as well as the equity interests in GS Project Entity, LLC (a wholly owned subsidiary of SU) and SU would receive certain real property and other assets that are near the Texas-Mexico border. Immediately prior to completing the exchange, SDTS would become a wholly owned, indirect subsidiary of InfraREIT Partners. Consummation of the Asset Exchange Agreement is subject to the satisfaction of certain closing conditions, including the substantially concurrent consummation of the transactions contemplated by the Securities Purchase Agreement, discussed below. On October 18, 2018, Sempra Energy entered into the Securities Purchase Agreement, whereby Sempra Texas Utilities Holdings I, LLC (a wholly owned subsidiary of Sempra Energy in our Sempra Texas Utility reportable segment) has agreed to acquire a 50 -percent economic interest in Sharyland Holdings, LP for approximately $98 million , subject to customary closing adjustments. In connection with and prior to the consummation of the Securities Purchase Agreement, Sharyland Holdings, LP would own 100 - percent of the membership interests in SU and SU would convert into a limited liability company, which is expected to be named Sharyland Utilities, LLC. Upon consummation of the Securities Purchase Agreement, Sempra Texas Utilities Holdings I, LLC would indirectly own and account for its 50 -percent membership interest in Sharyland Utilities, LLC as an equity method investment. Consummation of the Securities Purchase Agreement is subject to the satisfaction of certain closing conditions, including the substantially concurrent consummation of the transactions contemplated by the InfraREIT Merger Agreement and the Asset Exchange Agreement. For Oncor to fund its acquisition of interests in InfraREIT, Sempra Energy and certain indirect equity holders of TTI have committed to make capital contributions proportionate to Sempra Energy’s and TTI’s respective ownership interests in Oncor, with the amount estimated to be contributed by Sempra Energy equal to approximately $1,025 million , excluding Sempra Energy’s share of the approximately $40 million for a management agreement termination fee, as well as other customary transaction costs incurred by InfraREIT that would be borne by Oncor as part of the acquisition. We expect to fund our capital contribution to Oncor and to purchase the 50 -percent limited-partner interest in Sharyland Holdings, LP by utilizing a portion of the $1.6 billion in proceeds received from the sale of certain of our non-utility U.S. renewables business to a subsidiary of Con Ed, which we discuss below. The capital contributions are contingent on the satisfaction of customary conditions, including the substantially simultaneous closing of the transactions contemplated by the InfraREIT Merger Agreement, but are not a condition to the transactions contemplated therein. The transactions contemplated by the agreements discussed above require approval by the PUCT and the FERC, as well as the satisfaction of other regulatory requirements, approval by the Committee on Foreign Investment in the United States, certain lender consents and other customary closing conditions. Early termination of the applicable 30-day waiting period required under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, was granted on December 14, 2018. In addition, the acquisition of InfraREIT was approved by the InfraREIT stockholders on February 7, 2019. We expect that the transactions will close in mid-2019. ASSETS HELD FOR SALE We classify assets as held for sale when management approves and commits to a formal plan to actively market an asset for sale and we expect the sale to close within the next 12 months. Upon classifying an asset as held for sale, we record the asset at the lower of its carrying value or its estimated fair value reduced for selling costs. SEM |
INVESTMENTS IN UNCONSOLIDATED E
INVESTMENTS IN UNCONSOLIDATED ENTITIES | 12 Months Ended |
Dec. 31, 2018 | |
Investments [Abstract] | |
INVESTMENTS IN UNCONSOLIDATED ENTITIES | INVESTMENTS IN UNCONSOLIDATED ENTITIES We generally account for investments under the equity method when we have significant influence over, but do not have control of, these entities. In these cases, our pro rata shares of the entities’ net assets are included in Investment in Oncor Holdings or Other Investments on the Consolidated Balance Sheets. We evaluate the carrying value of unconsolidated entities for impairment under the U.S. GAAP provisions for equity method investments. We adjust each investment for our share of each investee’s earnings or losses, dividends, and OCI. Equity earnings and losses, both before and net of income tax, are combined and presented as Equity Earnings on the Consolidated Statements of Operations. See Note 8 for information regarding the pretax income or loss used to calculate our ETR. Our equity method investments include various domestic and foreign entities. Our domestic equity method investees are typically partnerships that are pass-through entities for income tax purposes and therefore they do not record income tax. Sempra Energy’s income tax on earnings from these equity method investees, other than Oncor Holdings as we discuss below, is included in Income Tax Expense on the Consolidated Statements of Operations. Oncor is a partnership for U.S. federal income tax purposes and is not included in the consolidated income tax return of Sempra Energy. Rather, only our equity earnings from our investment in Oncor Holdings (a disregarded entity for tax purposes) are included in our consolidated income tax return. A tax sharing agreement with TTI, Oncor Holdings and Oncor provides for the calculation of an income tax liability substantially as if Oncor Holdings and Oncor were taxed as corporations, and requires tax payments determined on that basis. While partnerships are not subject to income taxes, in consideration of the tax sharing agreement and Oncor being subject to the provisions of U.S. GAAP governing rate-regulated operations, Oncor recognizes amounts determined under cost-based regulatory rate-setting processes (with such costs including income taxes), as if it were taxed as a corporation. As a result, since Oncor Holdings consolidates Oncor, we recognize equity earnings from our investment in Oncor Holdings net of its recorded income tax. With the exception of RBS Sempra Commodities, discussed below, our foreign equity method investees are corporations whose operations are taxable on a stand-alone basis in the countries in which they operate, and we recognize our equity in such income or losses net of investee income tax. We may be subject to additional taxes related to these foreign investments, such as taxes on cash dividends or other cash distributions, which are recorded in Income Tax Expense on the Consolidated Statements of Operations. We provide the carrying values of our investments and earnings (losses) on these investments in the following tables. EQUITY METHOD AND OTHER INVESTMENT BALANCES (Dollars in millions) Percent ownership December 31, December 31, 2018 2017 2018 2017 Sempra Texas Utility: Oncor Holdings (1) 100 % — % $ 9,652 $ — Sempra South American Utilities: Eletrans 50 50 $ 17 $ 16 Sempra Mexico: Energía Sierra Juárez (2) 50 50 43 39 IMG (3) 40 40 328 221 TAG (4) 50 50 376 364 Sempra Renewables: Wind: Auwahi Wind 50 50 38 42 Broken Bow 2 Wind — 50 — 32 Cedar Creek 2 Wind 50 50 69 72 Flat Ridge 2 Wind (5) 50 50 82 255 Fowler Ridge 2 Wind 50 50 45 44 Mehoopany Wind (6) 50 50 57 89 Solar: California solar partnership — 50 — 107 Copper Mountain Solar 2 — 50 — 35 Copper Mountain Solar 3 — 50 — 44 Mesquite Solar 1 — 50 — 81 Other — 12 Sempra LNG & Midstream: Cameron LNG JV (7) 50.2 50.2 1,271 997 Parent and other: RBS Sempra Commodities 49 49 — 67 Total equity method investments 2,326 2,517 Other 11 10 Total other investments $ 2,337 $ 2,527 (1) The carrying value of our equity method investment is $2,814 million higher than the underlying equity in the net assets of the investee due to $2,868 million of equity method goodwill and $69 million in basis differences in AOCI, offset by $123 million due to a tax sharing liability to TTI under the tax sharing agreement. (2) The carrying value of our equity method investment is $12 million higher than the underlying equity in the net assets of the investee due to the remeasurement of our retained investment to fair value in 2014. (3) The carrying value of our equity method investment is $5 million higher than the underlying equity in the net assets of the investee due to guarantees, which we discuss below. (4) The carrying value of our equity method investment is $ 130 million higher than the underlying equity in the net assets of the investee due to equity method goodwill. (5) The carrying value of our equity method investment is $169 million lower than the underlying equity in the net assets of the investee due to an other-than-temporary impairment recorded in 2018. (6) The carrying value of our equity method investment is $31 million lower than the underlying equity in the net assets of the investee due to an other-than-temporary impairment recorded in 2018. (7) The carrying value of our equity method investment is $284 million and $237 million higher than the underlying equity in the net assets of the investee at December 31, 2018 and 2017 , respectively, primarily due to guarantees, which we discuss below, and interest capitalized on the investment, as the JV has not commenced its planned principal operations. EARNINGS (LOSSES) FROM EQUITY METHOD INVESTMENTS (Dollars in millions) Years ended December 31, 2018 2017 2016 Earnings (losses) recorded before income tax (1) : Sempra Renewables: Wind: Auwahi Wind $ 3 $ 5 $ 4 Broken Bow 2 Wind (2 ) (2 ) (2 ) Cedar Creek 2 Wind (1 ) (2 ) (2 ) Flat Ridge 2 Wind (2) (178 ) (13 ) (7 ) Fowler Ridge 2 Wind 3 4 4 Mehoopany Wind (2) (30 ) (1 ) — Solar: California solar partnership 8 7 7 Copper Mountain Solar 2 5 5 6 Copper Mountain Solar 3 8 8 8 Mesquite Solar 1 18 18 17 Other (3 ) — (1 ) Sempra LNG & Midstream: Cameron LNG JV — 5 (2 ) Rockies Express Pipeline — — (26 ) Parent and other: RBS Sempra Commodities (2) (67 ) — — (236 ) 34 6 Earnings (losses) recorded net of income tax: Sempra Texas Utility: Oncor Holdings 371 — — Sempra South American Utilities: Eletrans 1 4 3 Sempra Mexico: DEN — (13 ) 5 Energía Sierra Juárez 2 — 6 IEnova Pipelines — — 64 IMG 29 45 — TAG 9 6 — 412 42 78 Total $ 176 $ 76 $ 84 (1) We provide our ETR calculation in Note 8. (2) Losses from equity method investment in 2018 include an other-than-temporary impairment charge, which we discuss below. At December 31, 2018 and 2017 , our share of the undistributed earnings of equity method investments was $332 million and $89 million , respectively, including $221 million at December 31, 2018 in undistributed earnings of more than 50-percent-owned equity method investments. SEMPRA TEXAS UTILITY As we discuss in Note 5 , on March 9, 2018, we completed the acquisition of an indirect, 100 -percent interest in Oncor Holdings, which owns an 80.25 -percent interest in Oncor. Due to ring-fencing measures, governance mechanisms and commitments in effect following the Merger, we do not have the power to direct the significant activities of Oncor Holdings and Oncor, which we discuss in the following paragraph. Consequently, we account for our investment in Oncor Holdings under the equity method, which comprises our Sempra Texas Utility reportable segment. As we discuss in Note 5 , reorganized EFH (renamed Sempra Texas Holdings Corp.) was merged with an indirect subsidiary of Sempra Energy, and its assets and liabilities relating to non-Oncor operations have been subsumed into our parent organization. Certain ring-fencing measures, existing governance mechanisms and commitments remain in effect following the Merger, which are intended to enhance Oncor Holdings’ and Oncor’s separateness from their owners and to mitigate the risk that these entities would be negatively impacted by the bankruptcy of, or other adverse financial developments affecting, EFH or its other subsidiaries or the owners of EFH. Sempra Energy does not control Oncor Holdings or Oncor, and the ring-fencing measures, governance mechanisms and commitments limit our ability to direct the management, policies and operations of Oncor Holdings and Oncor, including the deployment or disposition of their assets, declarations of dividends, strategic planning and other important corporate issues and actions. These limitations include limited representation on the Oncor Holdings and Oncor boards of directors, as Oncor Holdings and Oncor will continue to have a majority of independent directors. Thus, Oncor Holdings and Oncor will continue to be managed independently (i.e., ring-fenced). As such, we account for our 100 -percent ownership interest in Oncor Holdings as an equity method investment. We recognized equity earnings, net of income tax, of $371 million for the period since the acquisition date through December 31, 2018. We contributed $230 million in cash, commensurate with our ownership interest, to Oncor in 2018 in accordance with the terms of the Merger Agreement, which enabled Oncor to achieve its required capital structure calculated for regulatory purposes. We provide summarized income statement and balance sheet information for Oncor Holdings in the following table. SUMMARIZED FINANCIAL INFORMATION – ONCOR HOLDINGS (Dollars in millions) March 9 - December 31, 2018 Gross revenues $ 3,347 Operating expense (2,434 ) Income from operations 913 Interest expense (285 ) Income tax expense (119 ) Net income 455 Noncontrolling interest held by TTI (94 ) Earnings attributable to Sempra Energy (1) 360 At December 31, 2018 Current assets $ 772 Noncurrent assets 21,980 Current liabilities 2,217 Noncurrent liabilities 11,756 (1) Earnings at Oncor Holdings differ from earnings at the Sempra Texas Utility segment due to amortization of a tax sharing liability associated with a tax sharing arrangement and basis differences in AOCI. SEMPRA SOUTH AMERICAN UTILITIES In 2017, Sempra South American Utilities recorded the equitization of its $19 million note receivable due from Eletrans, resulting in an increase in its investment in this unconsolidated JV. In 2017, Sempra South American Utilities invested cash of $1 million in Eletrans. SEMPRA MEXICO IEnova Pipelines, DEN and TAG On September 26, 2016, IEnova completed the acquisition of the remaining 50 -percent interest in IEnova Pipelines and IEnova Pipelines became a consolidated subsidiary. Prior to the acquisition date, IEnova owned 50 percent of IEnova Pipelines and accounted for its interest as an equity method investment. As of the acquisition date, IEnova accounted for IEnova Pipelines’ 50 -percent interest in DEN as an equity method investment. On November 15, 2017, IEnova acquired the remaining 50 -percent interest in DEN, and DEN became a consolidated subsidiary. Since the acquisition date, IEnova accounts for DEN’s 50 -percent interest in TAG as an equity method investment. We discuss these acquisitions in Note 5 . IMG In June 2016, IMG, a JV between IEnova and a subsidiary of TransCanada, was awarded the right to build, own and operate the Sur de Texas-Tuxpan natural gas marine pipeline by the CFE. IEnova has a 40 -percent interest in the project and accounts for its interest as an equity method investment, and TransCanada owns the remaining 60 -percent interest. The marine pipeline is fully contracted under a 25 -year natural gas transportation service contract with the CFE. We expect the project to be completed in the second quarter of 2019. In 2018, 2017 and 2016, Sempra Mexico invested cash of $80 million , $72 million and $100 million , respectively, in the IMG JV. SEMPRA RENEWABLES On June 25, 2018, our board of directors approved a plan to sell all wind assets and investments and solar assets and investments, including our wholly owned facilities, JV and tax equity investments and projects in development in our Sempra Renewables reportable segment, all of which are located in the U.S. In December 2018, Sempra Renewables completed the sale of all its operating solar assets, including its solar equity method investments, and one wind equity method investment to a subsidiary of Con Ed. In February 2019, Sempra Renewables entered into an agreement to sell its remaining wind assets and investments. We expect to complete the sale in the second quarter of 2019. We discuss the completed sale with Con Ed and plan of sale for the remaining assets in Note 5 . Because of our expectation of a shorter holding period as a result of this plan of sale, we evaluated the recoverability of the carrying amounts of our wind and solar equity method investments and concluded there is an other-than-temporary impairment on certain of our wind equity method investments totaling $200 million , which is included in Equity Earnings on Sempra Energy’s Consolidated Statement of Operations for the year ended December 31, 2018. Our wind investments totaling $291 million at December 31, 2018, which are also included in the plan of sale, continue to be classified as Other Investments on Sempra Energy’s Consolidated Balance Sheet. We discuss non-recurring fair value measures in Note 12 . In 2018 and 2016, Sempra Renewables invested cash of $5 million and $18 million , respectively, in its unconsolidated JVs. SEMPRA LNG & MIDSTREAM Rockies Express As we discuss in Note 5 , in May 2016, Sempra LNG & Midstream sold its 25 -percent interest in Rockies Express, a partnership that operates a natural gas pipeline, REX, that links the Rocky Mountain region to the upper Midwest and the eastern U.S. Cameron LNG JV Cameron LNG JV was formed in October 2014 among Sempra Energy and three project partners. The Cameron LNG existing regasification terminal that was contributed to Cameron LNG JV included two marine berths and three LNG storage tanks, and facilities capable of processing 1.5 Bcf of natural gas per day. The current liquefaction project, which is utilizing Cameron LNG JV’s existing facilities, is comprised of three liquefaction trains and is being designed to have a nameplate capacity of 13.9 Mtpa of LNG, with an expected export capability of 12 Mtpa of LNG, or approximately 1.7 Bcf per day. We account for our investment in Cameron LNG JV under the equity method. Sempra LNG & Midstream capitalized interest of $47 million in each of 2018, 2017 and 2016, related to this equity method investment that has not commenced planned principal operations. In 2018 and 2017, Sempra LNG & Midstream invested cash of $228 million and $1 million , respectively, in Cameron LNG JV. Cameron LNG JV Financing General. In August 2014, Cameron LNG JV entered into finance documents (collectively, Loan Facility Agreements) for senior secured financing in an initial aggregate principal amount of up to $7.4 billion under three debt facilities provided by the Japan Bank for International Cooperation (JBIC) and 29 international commercial banks, some of which will benefit from insurance coverage provided by Nippon Export and Investment Insurance (NEXI). The Cameron LNG JV Loan Facility Agreements and related finance documents provide senior secured term loans with a maturity date of July 15, 2030. The proceeds of the loans are being used for financing the cost of development and construction of the three-train Cameron LNG project. The Loan Facility Agreements and related finance documents contain customary representations and affirmative and negative covenants for project finance facilities of this kind with the lenders of the type participating in the Cameron LNG JV financing. Interest. The weighted-average all-in cost of the loans outstanding under all the Loan Facility Agreements (and based on certain assumptions as to timing of drawdown) is 1.59 percent per annum over LIBOR prior to financial completion of the project and 1.78 percent per annum over LIBOR following financial completion of the project. The Loan Facility Agreements require Cameron LNG JV to hedge 50 percent of outstanding borrowings to fix the interest rate, beginning in 2016. The hedges are to remain in place until the debt principal has been amortized by 50 percent . In November 2014, Cameron LNG JV entered into floating-to-fixed interest rate swaps for approximately $3.7 billion notional amount, resulting in an effective fixed rate of 3.19 percent for the LIBOR component of the interest rate on the loans. In June 2015, Cameron LNG JV entered into additional floating-to-fixed interest rate swaps effective starting in 2020, for approximately $1.5 billion notional amount, resulting in an effective fixed rate of 3.32 percent for the LIBOR component of the interest rate on the loans. Guarantees. In August 2014, Sempra Energy entered into agreements for the benefit of all of Cameron LNG JV’s creditors under the Loan Facility Agreements and related finance documents. Pursuant to these agreements, Sempra Energy has severally guaranteed 50.2 percent of Cameron LNG JV’s obligations under the Loan Facility Agreements and related finance documents, or a maximum amount of $3.9 billion . Guarantees for the remaining 49.8 percent of Cameron LNG JV’s senior secured financing have been provided by the other project owners. Sempra Energy’s agreements and guarantees will terminate upon financial completion of the three-train Cameron LNG project, which is subject to satisfaction of certain conditions, including all three trains achieving commercial operations and meeting certain operational performance tests. We expect the project to achieve financial completion and the guarantees to be terminated approximately nine months after all three trains achieve commercial operation. Sempra Energy recorded a liability of $82 million in October 2014, with an associated carrying value of $9 million at December 31, 2018, for the fair value of its obligations associated with the Loan Facility Agreements and related finance documents, which constitute guarantees. This liability is being reduced on a straight-line basis over the duration of the guarantees by recognizing equity earnings from Cameron LNG JV, included in Equity Earnings. In August 2014, Sempra Energy and the other project owners entered into a transfer restrictions agreement with Société Générale, as intercreditor agent for the lenders under the Loan Facility Agreements. Pursuant to the transfer restriction agreement, Sempra Energy agreed to certain restrictions on its ability to dispose of Sempra Energy’s indirect fully diluted economic and beneficial ownership interests in Cameron LNG JV. These restrictions vary over time. Prior to financial completion of the three-train Cameron LNG project, Sempra Energy must retain 37.65 percent of such interest in Cameron LNG JV. Starting six months after financial completion of the three-train Cameron LNG project, Sempra Energy must retain at least 10 percent of the indirect fully diluted economic and beneficial ownership interest in Cameron LNG JV. In addition, at all times, a Sempra Energy controlled (but not necessarily wholly owned) subsidiary must directly own 50.2 percent of the membership interests of the Cameron LNG JV. Events of Default. Cameron LNG JV’s Loan Facility Agreements and related finance documents contain events of default customary for such financings, including events of default for: failure to pay principal and interest on the due date; insolvency of Cameron LNG JV; abandonment of the project; expropriation; unenforceability or termination of the finance documents; and a failure to achieve financial completion of the project by a financial completion deadline date of September 30, 2021 (with up to an additional 365 days extension beyond such date permitted in cases of force majeure). A delay in construction that results in a failure to achieve financial completion of the project by this financial completion deadline date would therefore result in an event of default under Cameron LNG JV’s financing and a potential demand on Sempra Energy’s guarantees. Security. To support Cameron LNG JV’s obligations under the Loan Facility Agreements and related finance documents, Cameron LNG JV has granted security over all of its assets, subject to customary exceptions, and all equity interests in Cameron LNG JV have been pledged to HSBC Bank USA, National Association, as security trustee for the benefit of all of Cameron LNG JV’s creditors. As a result, an enforcement action by the lenders taken in accordance with the finance documents could result in the exercise of such security interests by the lenders and the loss of ownership interests in Cameron LNG JV by Sempra Energy and the other project partners. The security trustee under Cameron LNG JV’s financing can demand that a payment be made by Sempra Energy under its guarantees of Sempra Energy’s 50.2 -percent share of senior debt obligations due and payable either on the date such amounts were due from Cameron LNG JV (taking into account cure periods) in the event of a failure by Cameron LNG JV to pay such senior debt obligations when they become due or within 10 business days in the event of an acceleration of senior debt obligations under the terms of the finance documents. If an event of default occurs under the Sempra Energy completion agreement, the security trustee can demand that Sempra Energy purchase its 50.2 -percent share of all then outstanding senior debt obligations within five business days (other than in the case of a bankruptcy default, which is automatic). RBS SEMPRA COMMODITIES RBS Sempra Commodities is a United Kingdom limited liability partnership formed by Sempra Energy and RBS in 2008 to own and operate the commodities-marketing businesses previously operated through wholly owned subsidiaries of Sempra Energy. We and RBS sold substantially all of the partnership’s businesses and assets in four separate transactions completed in 2010 and 2011. Since 2011, our investment balance has reflected our share of the remaining partnership assets, including amounts retained by the partnership to help offset unanticipated future general and administrative costs necessary to complete the dissolution of the partnership and the distribution of the partnership’s remaining assets, if any. We account for our investment in RBS Sempra Commodities under the equity method. In September 2018, we fully impaired our remaining equity method investment in RBS Sempra Commodities by recording a charge of $65 million in Equity Earnings on Sempra Energy’s Consolidated Statement of Operations. We discuss matters related to RBS Sempra Commodities further in “Other Litigation” in Note 16 . SUMMARIZED FINANCIAL INFORMATION We present summarized financial information below, aggregated for all other equity method investments (excluding Oncor Holdings) for the periods in which we were invested in the entities. The amounts below represent the results of operations and aggregate financial position of 100 percent of each of Sempra Energy’s other equity method investments. SUMMARIZED FINANCIAL INFORMATION – OTHER EQUITY METHOD INVESTMENTS (Dollars in millions) Years ended December 31, 2018 (1) 2017 (2) 2016 (3) Gross revenues $ 727 $ 846 $ 1,079 Operating expense (614 ) (590 ) (726 ) Income from operations 113 256 353 Interest expense (330 ) (217 ) (127 ) Net (loss) income/(Losses) earnings (4) (33 ) 116 252 At December 31, 2018 (1) 2017 (2) Current assets $ 625 $ 974 Noncurrent assets 14,803 14,087 Current liabilities 813 797 Noncurrent liabilities 10,226 9,809 (1) On December 13, 2018, Sempra Renewables sold all its operating solar assets, including its solar equity method investments, and its 50 -percent interest in the Broken Bow 2 wind power generation facility to a subsidiary of Con Ed. As of December 13, 2018, the solar equity method investments and Broken Bow 2 are no longer equity method investments. (2) On November 15, 2017, IEnova completed the asset acquisition of PEMEX’s 50 -percent interest in DEN, increasing its ownership percentage to 100 percent . As of November 15, 2017, DEN is no longer an equity method investment. (3) On September 26, 2016, IEnova completed the acquisition of PEMEX’s 50 -percent interest in IEnova Pipelines, increasing its ownership percentage to 100 percent , and on May 9, 2016, Sempra LNG & Midstream sold its 25 -percent interest in Rockies Express. As of the respective transaction dates, IEnova Pipelines and Rockies Express are no longer equity method investments. (4) Except for our investments in South America and Mexico, there was no income tax recorded by the entities, as they are primarily domestic partnerships. GUARANTEES Project financing at wind JVs generally requires the JV partners, for each partner’s interest, to return cash to the projects in the event that the projects do not meet certain cash flow criteria or in the event that the projects’ debt service and O&M reserve accounts are not maintained at specific thresholds. In some cases, the JV partners have provided guarantees to the lenders in lieu of the projects’ funding the reserve account requirements. We recorded liabilities for the fair value of certain of our obligations associated with these guarantees, and the liabilities are being amortized over their expected lives. The outstanding loans at our wind JVs are not guaranteed by the partners, but are secured by project assets. IEnova has an indirect 40 -percent ownership interest and TransCanada has an indirect 60 -percent ownership interest in IMG. IEnova and TransCanada have each provided guarantees to third parties associated with construction of IMG’s Sur de Texas –Tuxpan natural gas marine pipeline. IEnova expects the construction giving rise to these guarantees to be completed in the second quarter of 2019. At December 31, 2018 , we provided guarantees aggregating a maximum of $152 million with an associated aggregated carrying value of $5 million for guarantees related to project financing. In addition, at December 31, 2018 , we provided guarantees to JVs aggregating a maximum of $79 million with an associated aggregated carrying value of $1 million |
DEBT AND CREDIT FACILITIES
DEBT AND CREDIT FACILITIES | 12 Months Ended |
Dec. 31, 2018 | |
Debt Disclosure [Abstract] | |
Debt and Credit Facilities | DEBT AND CREDIT FACILITIES LINES OF CREDIT At December 31, 2018 , Sempra Energy Consolidated had an aggregate of $5.4 billion in three primary committed lines of credit for Sempra Energy, Sempra Global and the California Utilities to provide liquidity and to support commercial paper, the principal terms of which we describe below. Available unused credit on these lines at December 31, 2018 was approximately $4.2 billion . Our foreign operations have additional general purpose credit facilities aggregating $1.8 billion at December 31, 2018 . Available unused credit on these lines totaled $0.8 billion at December 31, 2018 . PRIMARY U.S. COMMITTED LINES OF CREDIT (Dollars in millions) At December 31, 2018 Total facility Commercial paper outstanding (1) Adjustment for combined limit Available unused credit Sempra Energy (2) $ 1,250 $ — $ — $ 1,250 Sempra Global (3) 3,185 (669 ) — 2,516 California Utilities (4) : SDG&E 750 (291 ) (6 ) 453 SoCalGas 750 (256 ) (41 ) 453 Less: subject to a combined limit of $1 billion for both utilities (500 ) — 47 (453 ) 1,000 (547 ) — 453 Total $ 5,435 $ (1,216 ) $ — $ 4,219 (1) Because the commercial paper programs are supported by these lines, we reflect the amount of commercial paper outstanding as a reduction to the available unused credit. (2) The facility also provides for issuance of up to $400 million of letters of credit on behalf of Sempra Energy with the amount of borrowings otherwise available under the facility reduced by the amount of outstanding letters of credit. No letters of credit were outstanding at December 31, 2018 . (3) Sempra Energy guarantees Sempra Global’s obligations under the credit facility. (4) The facility also provides for the issuance of letters of credit on behalf of each utility subject to a combined letter of credit commitment of $250 million for both utilities. The amount of borrowings otherwise available under the facility is reduced by the amount of outstanding letters of credit. No letters of credit were outstanding at December 31, 2018 . Related to the committed lines of credit in the table above: ▪ Each is a 5 -year syndicated revolving credit agreement expiring in October 2020. ▪ Citibank N.A. serves as administrative agent for the Sempra Energy and Sempra Global facilities and JPMorgan Chase Bank, N.A. serves as administrative agent for the California Utilities combined facility. ▪ Each facility has a syndicate of 21 lenders. No single lender has greater than a 7 -percent share in any facility. ▪ Sempra Energy, SDG&E and SoCalGas must maintain a ratio of indebtedness to total capitalization (as defined in each agreement) of no more than 65 percent at the end of each quarter. Each entity is in compliance with this and all other financial covenants under its respective credit facility at December 31, 2018 . ▪ Borrowings bear interest at benchmark rates plus a margin that varies with Sempra Energy’s credit ratings in the case of the Sempra Energy and Sempra Global lines of credit, and with the borrowing utility’s credit rating in the case of the California Utilities line of credit. ▪ The California Utilities’ obligations under their agreement are individual obligations, and a default by one utility would not constitute a default by the other utility or preclude borrowings by, or the issuance of letters of credit on behalf of, the other utility. CREDIT FACILITIES IN SOUTH AMERICA AND MEXICO (U.S. dollar equivalent in millions) At December 31, 2018 Denominated in Total facility Amount Available unused credit Sempra South American Utilities (1) : Peru (2) Peruvian sol $ 534 $ (182 ) (3) $ 352 Chile Chilean peso 115 — 115 Sempra Mexico: IEnova (4) U.S. dollar 1,170 (808 ) 362 Total $ 1,819 $ (990 ) $ 829 1) The credit facilities were entered into to finance working capital and for general corporate purposes and expire between 2019 and 2021. 2) The Peruvian facilities require a debt to equity ratio of no more than 170 percent , with which we were in compliance at December 31, 2018 . 3) Includes bank guarantees of $18 million . 4) In February 2019, IEnova revised the terms of its five -year revolving credit facility by increasing the amount available under the facility from $1.17 billion to $1.5 billion , extending the expiration of the facility from August 2020 to February 2024 and increasing the syndicate of lenders from eight to 10 . Outside of these domestic and foreign committed credit facilities, we have bilateral unsecured standby letter of credit capacity with select lenders that is uncommitted and supported by reimbursement agreements. At December 31, 2018 , we had approximately $598 million in standby letters of credit outstanding under these agreements. WEIGHTED-AVERAGE INTEREST RATES The weighted-average interest rates on the total short-term debt at Sempra Energy Consolidated were 3.01 percent and 1.92 percent at December 31, 2018 and 2017 , respectively. The weighted-average interest rates on total short-term debt at SDG&E were 2.97 percent and 1.65 percent at December 31, 2018 and 2017 , respectively. The weighted-average interest rates on total short-term debt at SoCalGas were 2.58 percent and 1.64 percent at December 31, 2018 and 2017 , respectively. LONG-TERM DEBT The following tables show the detail and maturities of long-term debt outstanding: LONG-TERM DEBT (Dollars in millions) December 31, 2018 2017 SDG&E First mortgage bonds (collateralized by plant assets): 1.65% July 1, 2018 (1) $ — $ 161 3% August 15, 2021 350 350 1.914% payable 2015 through February 2022 125 161 3.6% September 1, 2023 450 450 2.5% May 15, 2026 500 500 6% June 1, 2026 250 250 5.875% January and February 2034 (1) 176 176 5.35% May 15, 2035 250 250 6.125% September 15, 2037 250 250 4% May 1, 2039 (1) 75 75 6% June 1, 2039 300 300 5.35% May 15, 2040 250 250 4.5% August 15, 2040 500 500 3.95% November 15, 2041 250 250 4.3% April 1, 2042 250 250 3.75% June 1, 2047 400 400 4.15% May 15, 2048 400 — 4,776 4,573 Other long-term debt: OMEC LLC variable-rate loan (5.2925% after floating-to-fixed rate swaps effective 2007), payable 2013 through April 2019 (collateralized by OMEC plant assets) — 295 OMEC LLC variable-rate loan (4.7896% at December 31, 2018 except for $142 at 5.2925% after floating-to-fixed rate swaps through April 1, 2019), payable 2019 through 2024 (collateralized by OMEC plant assets) 220 — Capital lease obligations: Purchased-power contracts 1,270 731 Other 2 1 1,492 1,027 6,268 5,600 Current portion of long-term debt (81 ) (220 ) Unamortized discount on long-term debt (12 ) (11 ) Unamortized debt issuance costs (37 ) (34 ) Total SDG&E 6,138 5,335 SoCalGas First mortgage bonds (collateralized by plant assets): 5.45% April 15, 2018 — 250 1.55% June 15, 2018 — 250 3.15% September 15, 2024 500 500 3.2% June 15, 2025 350 350 2.6% June 15, 2026 500 500 5.75% November 15, 2035 250 250 5.125% November 15, 2040 300 300 3.75% September 15, 2042 350 350 4.45% March 15, 2044 250 250 4.125% June 1, 2048 400 — 4.3% January 15, 2049 550 — 3,450 3,000 Other long-term debt (uncollateralized): 1.875% Notes payable 2016 through May 2026 (1) 4 4 5.67% Notes January 18, 2028 5 5 Capital lease obligations 3 1 12 10 3,462 3,010 Current portion of long-term debt (3 ) (501 ) Unamortized discount on long-term debt (6 ) (7 ) Unamortized debt issuance costs (26 ) (17 ) Total SoCalGas 3,427 2,485 LONG-TERM DEBT (CONTINUED) (Dollars in millions) December 31, 2018 2017 Sempra Energy Other long-term debt (uncollateralized): 6.15% Notes June 15, 2018 — 500 9.8% Notes February 15, 2019 500 500 Notes at variable rates (2.69% at December 31, 2018) July 15, 2019 500 — 1.625% Notes October 7, 2019 500 500 2.4% Notes February 1, 2020 500 — 2.4% Notes March 15, 2020 500 500 2.85% Notes November 15, 2020 400 400 Notes at variable rates (2.94% at December 31, 2018) January 15, 2021 (1) 700 — Notes at variable rates (3.24% at December 31, 2018) March 15, 2021 850 850 2.875% Notes October 1, 2022 500 500 2.9% Notes February 1, 2023 500 — 4.05% Notes December 1, 2023 500 500 3.55% Notes June 15, 2024 500 500 3.75% Notes November 15, 2025 350 350 3.25% Notes June 15, 2027 750 750 3.4% Notes February 1, 2028 1,000 — 3.8% Notes February 1, 2038 1,000 — 6% Notes October 15, 2039 750 750 4% Notes February 1, 2048 800 — Fair value adjustments for interest rate swaps, net — (1 ) Build-to-suit lease (2) 138 138 Sempra South American Utilities Other long-term debt (uncollateralized): Chilquinta Energía – 4.25% Series B Bonds October 30, 2030 186 205 Luz del Sur Bank loans 4.3% to 5.7% payable 2017 through December 2021 105 53 Corporate bonds at 4.75% to 8.75% payable 2014 through September 2029 432 415 Other bonds at 3.77% to 4.61% payable 2020 through May 2022 4 6 Capital lease obligations 6 6 Sempra Mexico Other long-term debt (uncollateralized unless otherwise noted): Notes February 8, 2018 at variable rates (2.66% after floating-to-fixed rate cross-currency swaps effective 2013) — 66 6.3% Notes February 2, 2023 (4.12% after cross-currency swap) 198 198 Notes at variable rates (4.88% after floating-to-fixed rate swaps effective 2014), payable 2016 through December 2026, collateralized by plant assets 275 314 3.75% Notes January 14, 2028 300 300 Bank loans including $246 at a weighted-average fixed rate of 6.67%, $164 at variable rates (weighted-average rate of 6.33% after floating-to-fixed rate swaps effective 2014) and $37 at variable rates (5.82% at December 31, 2018), payable 2016 through March 2032, collateralized by plant assets 447 468 4.875% Notes January 14, 2048 540 540 Loan at variables rates (6.07% at December 31, 2018) July 31, 2028 4 — Sempra Renewables Other long-term debt (collateralized by project assets): Loan at variable rates (3.325% at December 31, 2017) payable 2012 through December 2028 except for $59 at 3.668% after floating-to-fixed rate swaps effective June 2012 (1) — 77 Sempra LNG & Midstream Other long-term debt (uncollateralized): Notes at 2.87% to 3.51% October 1, 2026 (1) 21 20 13,756 9,405 Current portion of long-term debt (1,589 ) (706 ) Unamortized discount on long-term debt (38 ) (13 ) Unamortized premium on long-term debt 4 4 Unamortized debt issuance costs (87 ) (65 ) Total other Sempra Energy 12,046 8,625 Total Sempra Energy Consolidated $ 21,611 $ 16,445 (1) Callable long-term debt not subject to make-whole provisions. (2) We discuss this lease in Notes 2 and 16. MATURITIES OF LONG-TERM DEBT (1) (Dollars in millions) SDG&E SoCalGas Other Sempra Energy Total Sempra Energy Consolidated 2019 $ 64 $ — $ 1,590 $ 1,654 2020 71 — 1,548 1,619 2021 425 — 1,700 2,125 2022 62 — 620 682 2023 500 — 1,321 1,821 Thereafter 3,874 3,459 6,833 14,166 Total $ 4,996 $ 3,459 $ 13,612 $ 22,067 (1) Excludes capital lease obligations, build-to-suit lease, fair value adjustments for interest rate swaps, discounts, premiums and debt issuance costs. Various long-term obligations totaling $12.9 billion at Sempra Energy Consolidated at December 31, 2018 are unsecured. This includes unsecured long-term obligations totaling $9 million at SoCalGas. There were no unsecured long-term obligations at SDG&E. CALLABLE LONG-TERM DEBT At the option of Sempra Energy, SDG&E and SoCalGas, certain debt at December 31, 2018 is callable subject to premiums: CALLABLE LONG-TERM DEBT (Dollars in millions) SDG&E SoCalGas Other Total Not subject to make-whole provisions $ 251 $ 4 $ 721 $ 976 Subject to make-whole provisions 4,525 3,455 10,274 18,254 In addition, the OMEC LLC loan that we discuss below, with $220 million of outstanding borrowings at December 31, 2018 , may be prepaid at OMEC LLC’s option. FIRST MORTGAGE BOND S The California Utilities issue first mortgage bonds secured by a lien on utility plant assets. The California Utilities may issue additional first mortgage bonds if in compliance with the provisions of their bond agreements (indentures). These indentures require, among other things, the satisfaction of pro forma earnings-coverage tests on first mortgage bond interest and the availability of sufficient mortgaged property to support the additional bonds, after giving effect to prior bond redemptions. The most restrictive of these tests (the property test) would permit the issuance, subject to CPUC authorization, of additional first mortgage bonds of $5.7 billion at SDG&E and $1.2 billion at SoCalGas at December 31, 2018 . SDG&E In May 2018, SDG&E publicly offered and sold $400 million of 4.15 -percent, first mortgage bonds maturing in 2048. SDG&E used the proceeds from the offering to repay outstanding commercial paper. SoCalGas In May 2018, SoCalGas publicly offered and sold $400 million of 4.125 -percent, first mortgage bonds maturing in 2048. In September 2018, SoCalGas publicly offered and sold $550 million of 4.30 -percent, first mortgage bonds maturing in 2049. SoCalGas used the proceeds from the offerings to repay outstanding commercial paper and for other general corporate purposes. OTHER LONG-TERM DEBT Sempra Energy On January 12, 2018, we issued the following debt securities and received net proceeds of $4.9 billion (after deducting discounts and debt issuance costs of $68 million): NOTES ISSUED IN LONG-TERM DEBT OFFERING (Dollars in millions) Title of each class of securities Aggregate principal amount Maturity Interest payments Notes at variable rates (1) due 2019 $ 500 July 15, 2019 Quarterly Notes at variable rates (2) due 2021 700 January 15, 2021 Quarterly 2.4% Notes due 2020 500 February 1, 2020 Semi-annually 2.9% Notes due 2023 500 February 1, 2023 Semi-annually 3.4% Notes due 2028 1,000 February 1, 2028 Semi-annually 3.8% Notes due 2038 1,000 February 1, 2038 Semi-annually 4% Notes due 2048 800 February 1, 2048 Semi-annually (1) Bears interest at a rate per annum equal to the 3-month LIBOR rate, plus 25 bps . (2) Bears interest at a rate per annum equal to the 3-month LIBOR rate, plus 50 bps . The variable-rate notes due 2019 are not subject to redemption at our option. At our option, we may redeem some or all of the variable-rate notes due 2021 at any time on or after January 14, 2019 at the applicable redemption price per the terms of the notes. At our option, we may redeem some or all of the fixed-rate notes of each series at any time at the applicable redemption price for such series of fixed-rate notes. The notes are unsecured and unsubordinated obligations, ranking on a parity in right of payment with all of our other unsecured and unsubordinated indebtedness and guarantees. The notes rank senior to all our existing and future indebtedness, if any, that is subordinated to the notes. The notes are effectively subordinated to any secured indebtedness we have or may incur (to the extent of the collateral securing that indebtedness) and are also effectively subordinated to all indebtedness and other liabilities of our subsidiaries. We used a substantial portion of the net proceeds from this offering to finance a portion of the Merger Consideration and associated transaction costs, as we discuss in Note 5, and approximately $800 million to pay down commercial paper. SDG&E In December 2018, OMEC LLC entered into a loan agreement for $220 million , the proceeds of which were used to repay its project financing loan used for the construction of OMEC that was scheduled to mature in April 2019. The loan matures in August 2024, unless OMEC LLC exercises its put option in which case the loan will mature in November 2019. We describe the put option in Note 1. The loan bears interest at a rate per annum equal to the 3-month LIBOR rate plus 200 bps . OMEC LLC previously entered into a floating-to-fixed interest rate swap for $142 million of the project financing loan that matures on April 30, 2019, which results in a fixed rate of 5.2925 percent . In December 2018, OMEC LLC entered into new floating-to-fixed interest rate swaps to hedge future interest payments on the loan with notional amounts of $159 million that will become effective on April 30, 2019 and mature on October 31, 2019, resulting in a fixed rate of 2.765 percent , and $142 million of swaptions that, if exercised, will become effective on October 31, 2019 and mature on October 31, 2023, resulting in a fixed rate of 3.0375 percent . We provide additional information concerning the interest rate swaps in Note 11. The loan is with third party lenders and is collateralized by OMEC’s assets. SDG&E is not a party to the loan agreement and does not have any additional implicit or explicit financial responsibility to OMEC LLC, nor would SDG&E be required to assume OMEC LLC’s loan under the put option purchase scenario. In 2017, SDG&E satisfied all of the conditions precedent for a CPUC-approved 20 -year PPA with a 500-MW power plant facility. Construction of the facility was completed and delivery of contracted power commenced in December 2018, at which time we recorded a $550 million capital lease obligation on SDG&E’s and Sempra Energy’s Consolidated Balance Sheets. Sempra South American Utilities Luz del Sur drew bank loans in 2018 totaling $107 million , of which $61 million is included in the amounts outstanding under Peruvian credit facilities in the “Credit Facilities in South America and Mexico” table above, at interest rates ranging from 4.3 percent to 5.7 percent and maturity dates ranging from September 2020 through December 2021. In October 2018, Luz del Sur publicly offered and sold $50 million of corporate bonds at 7 percent , which mature in October 2028. Sempra Renewables As we discuss in Note 5, in December 2018, Sempra Renewables completed the sale of all its operating solar assets and certain other assets. Sempra Renewables received $1.6 billion in cash proceeds and the buyer assumed debt of $70 million , net of unamortized debt issuance costs. INTEREST RATE SWAPS We discuss our fair value and cash flow hedging interest rate swaps in Note 11 |
INCOME TAXES
INCOME TAXES | 12 Months Ended |
Dec. 31, 2018 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | INCOME TAXES We provide our calculations of ETRs in the following table. INCOME TAX EXPENSE AND EFFECTIVE INCOME TAX RATES (Dollars in millions) Years ended December 31, 2018 2017 2016 Sempra Energy Consolidated: Income tax expense $ 96 $ 1,276 $ 389 Income before income taxes and equity earnings $ 1,046 $ 1,551 $ 1,824 Equity (losses) earnings, before income tax (1) (236 ) 34 6 Pretax income $ 810 $ 1,585 $ 1,830 Effective income tax rate 12 % 81 % 21 % SDG&E: Income tax expense $ 173 $ 155 $ 280 Income before income taxes $ 849 $ 576 $ 845 Effective income tax rate 20 % 27 % 33 % SoCalGas: Income tax expense $ 92 $ 160 $ 143 Income before income taxes $ 493 $ 557 $ 493 Effective income tax rate 19 % 29 % 29 % (1) We discuss how we recognize equity earnings in Note 6 . We present in the table below reconciliations of net U.S. statutory federal income tax rates to our ETRs. RECONCILIATION OF FEDERAL INCOME TAX RATES TO EFFECTIVE INCOME TAX RATES Years ended December 31, 2018 2017 2016 Sempra Energy Consolidated: U.S. federal statutory income tax rate 21 % 35 % 35 % Effects of the TCJA 11 55 — Non-U.S. earnings taxed at rates different from the U.S. statutory income tax rate (1) 9 (3 ) (3 ) Utility depreciation 7 6 4 Foreign exchange and inflation effects (2) 4 3 (2 ) Compensation-related items 3 — (2 ) Unrecognized income tax benefits 2 — — Noncontrolling interests in tax equity arrangements 2 — — Resolution of prior years’ income tax items — (2 ) — Impairment losses at Sempra LNG & Midstream (19 ) — — Utility repairs expenditures (8 ) (6 ) (4 ) Tax credits (6 ) (4 ) (3 ) State income taxes, net of federal income tax benefit (5 ) 1 1 Self-developed software expenditures (4 ) (4 ) (3 ) Allowance for equity funds used during construction (3 ) (3 ) (2 ) Amortization of excess deferred income taxes (2 ) — — Merger-related transaction costs (1 ) — — Other, net 1 3 — Effective income tax rate 12 % 81 % 21 % SDG&E: U.S. federal statutory income tax rate 21 % 35 % 35 % State income taxes, net of federal income tax benefit 5 3 5 Depreciation 3 7 5 Effects of the TCJA — 5 — Resolution of prior years’ income tax items — (4 ) (1 ) Compensation-related items — — (1 ) Repairs expenditures (3 ) (8 ) (4 ) Self-developed software expenditures (2 ) (6 ) (3 ) Allowance for equity funds used during construction (2 ) (4 ) (2 ) Amortization of excess deferred income taxes (1 ) — — Other, net (1 ) (1 ) (1 ) Effective income tax rate 20 % 27 % 33 % SoCalGas: U.S. federal statutory income tax rate 21 % 35 % 35 % Depreciation 7 9 9 Unrecognized income tax benefits 4 — — State income taxes, net of federal income tax benefit 2 3 2 Compensation-related items 1 — (1 ) Repairs expenditures (7 ) (8 ) (9 ) Self-developed software expenditures (3 ) (5 ) (6 ) Allowance for equity funds used during construction (2 ) (3 ) (2 ) Amortization of excess deferred income taxes (2 ) — — Resolution of prior years’ income tax items (1 ) (2 ) 2 Other, net (1 ) — (1 ) Effective income tax rate 19 % 29 % 29 % (1) Related to operations in Mexico, Chile and Peru. (2) Primarily due to fluctuation of the Mexican peso against the U.S. dollar. We record income tax expense (benefit) from the transactional effects of foreign currency and inflation because of appreciation (depreciation) of the Mexican peso. We also recognize gains (losses) in Other Income, Net, on the Consolidated Statements of Operations from foreign currency derivatives that are partially hedging Sempra Mexico parent’s exposure to movements in the Mexican peso from its controlling interest in IEnova. On December 22, 2017, the TCJA was signed into law. This legislation significantly changed the IRC. Under U.S. GAAP, certain effects of the TCJA were required to be recognized upon enactment, and, as a result, Sempra Energy, SDG&E, and SoCalGas recorded these effects in 2017. The TCJA reduced the U.S. statutory corporate income tax rate from 35 percent to 21 percent , effective January 1, 2018. U.S. GAAP requires that deferred income tax assets and liabilities, including NOLs, be remeasured at the income tax rate expected to apply when those temporary differences reverse and that the effects of any change to such income tax rate be recognized in the period when the change was enacted. This remeasurement resulted in significant reductions in deferred income tax balances at Sempra Energy Consolidated, SDG&E and SoCalGas in 2017. The remeasurement of deferred income tax balances at SDG&E and SoCalGas resulted in excess deferred income taxes that previously have been collected from ratepayers at the higher rate. As we discuss in Note 4, these excess deferred income taxes have been recorded as regulatory liabilities at December 31, 2018 and 2017 and will generally be refunded to ratepayers in accordance with the IRC’s normalization provisions and as determined by the CPUC and the FERC. Certain components of deferred income taxes could be attributed to shareholders rather than ratepayers. These components include deferred income taxes generated by activities outside of ratemaking. We recorded the effects of the TCJA in 2017 using our best estimates and the information available to us through the date those financial statements were issued. In 2018, we adjusted our 2017 provisional estimates and completed our accounting for the income tax effects of the TCJA as permitted by ASU 2018-05, which we describe in Note 2. The primary impacts of the TCJA recorded in 2017 and the related 2018 adjustments were: ▪ Lower U.S. statutory corporate income tax rate: We remeasured our deferred income tax balances because of the change in the U.S. statutory corporate federal income tax rate from 35 percent to 21 percent , which resulted in income tax expense of $182 million for the year ended December 31, 2017 for Sempra Energy Consolidated. In 2018, we recorded $20 million of income tax expense to adjust the 2017 provisional remeasurement amount. SDG&E’s and SoCalGas’ impacts were primarily offset with adjustments to regulatory liabilities; however, they also recorded $28 million and $2 million of income tax expense, respectively, for the year ended December 31, 2017. In 2018, adjustments to 2017 provisional estimates included a decrease of $38 million at SDG&E and an increase of $5 million at SoCalGas of deferred income tax liabilities, with each amount offset by a change in their respective regulatory liabilities. ▪ Deemed repatriation: Sempra Energy recorded income tax expense of $328 million for the year ended December 31, 2017 associated with the one-time deemed repatriation tax on foreign undistributed earnings. In 2018, we accrued income tax benefit of $8 million to adjust our 2017 provisional estimate. We anticipate that we will repatriate our foreign undistributed earnings (estimated to be approximately $4 billion ) that have been taxed at the U.S. federal level as a result of the deemed repatriation tax. In 2018, we repatriated $338 million to the U.S. and expect to repatriate an additional $3.7 billion in the foreseeable future as cash is generated by our businesses at the local level through operations or sale. In addition to the deemed repatriation tax, we accrued $360 million in 2017 of U.S. state and non-U.S. withholding tax on our expected future repatriation of foreign undistributed earnings. In 2018, we accrued additional income tax expense of $44 million to adjust our 2017 provisional estimates. ▪ Global intangible low-taxed income: In 2018, Sempra Energy recorded a partial valuation allowance of $29 million against its federal NOL carryforward as of December 31, 2017 due to the impact of the global intangible low-taxed income provisions of the TCJA. The table below summarizes the effects of the TCJA in 2018 and 2017: EFFECTS OF THE TAX CUTS AND JOBS ACT OF 2017 (Dollars in millions) Sempra Energy Consolidated SDG&E SoCalGas 2018: Consolidated Balance Sheets: Increase (decrease) in net deferred income tax liabilities due to remeasurement $ 16 $ (38 ) $ 5 Increase (decrease) in net regulatory liabilities from remeasurement of deferred income tax assets and liabilities $ 33 $ 38 $ (5 ) Consolidated Statements of Operations: Income tax expense related to remeasurement of deferred income tax assets and liabilities $ 49 $ — $ — Income tax benefit related to deemed repatriation (8 ) — — U.S. state and non-U.S. withholding tax expense related to expected future repatriation of foreign earnings 44 — — Total increase in income tax expense $ 85 $ — $ — 2017: Consolidated Balance Sheets: Decrease in net deferred income tax liabilities due to remeasurement $ (2,220 ) $ (1,400 ) $ (972 ) Increase in net regulatory liabilities from remeasurement of deferred income tax assets and liabilities $ 2,402 $ 1,428 $ 974 Consolidated Statements of Operations: Income tax expense related to remeasurement of deferred income tax assets and liabilities $ 182 $ 28 $ 2 Income tax expense related to deemed repatriation 328 — — U.S. state and non-U.S. withholding tax expense related to expected future repatriation of foreign earnings 360 — — Total increase in income tax expense $ 870 $ 28 $ 2 We have not recorded deferred income taxes with respect to remaining basis differences of approximately $1 billion between financial statement and income tax investment amounts in our non-U.S. subsidiaries because we consider them to be indefinitely reinvested as of December 31, 2018. It is currently not practicable to determine the hypothetical amount of tax that might be payable if the underlying basis differences were realized. On January 25, 2019, our board of directors approved a plan to sell our South American businesses. We are evaluating the effects of the planned sale on our indefinite reinvestment assertion and expect to record any impacts to our tax provision in the first quarter of 2019. For SDG&E and SoCalGas, the CPUC requires flow-through rate-making treatment for the current income tax benefit or expense arising from certain property-related and other temporary differences between the treatment for financial reporting and income tax, which will reverse over time. Under the regulatory accounting treatment required for these flow-through temporary differences, deferred income tax assets and liabilities are not recorded to deferred income tax expense, but rather to a regulatory asset or liability, which impacts the ETR. As a result, changes in the relative size of these items compared to pretax income, from period to period, can cause variations in the ETR. The following items are subject to flow-through treatment: ▪ repairs expenditures related to a certain portion of utility plant fixed assets; ▪ the equity portion of AFUDC, which is non-taxable; ▪ a portion of the cost of removal of utility plant assets; ▪ utility self-developed software expenditures; ▪ depreciation on a certain portion of utility plant assets; and ▪ state income taxes. The AFUDC related to equity recorded for regulated construction projects at Sempra Mexico has similar flow-through treatment. The 2016 GRC FD required SDG&E and SoCalGas to each establish a two-way income tax expense memorandum account to track certain revenue variances resulting from certain differences between the income tax expense forecasted in the GRC and the income tax expense incurred from 2016 through 2018. We discuss the tracking accounts further in Note 4 . We record income tax (expense) benefit from the transactional effects of foreign currency and inflation. Such effects are partially mitigated by net gains (losses) from foreign currency derivatives that are hedging Sempra Mexico parent’s exposure to movements in the Mexican peso from its controlling interest in IEnova. The table below presents the geographic components of pretax income. PRETAX INCOME – SEMPRA ENERGY CONSOLIDATED (Dollars in millions) Years ended December 31, 2018 2017 2016 By geographic components: U.S. $ (102 ) $ 878 $ 773 Non-U.S. 912 707 1,057 Total (1) $ 810 $ 1,585 $ 1,830 (1) See “Income Tax Expense and Effective Income Tax Rates” table above for calculation of pretax income. U.S. pretax income was lower in 2018 compared to 2017 due to the 2018 impairment of certain assets at Sempra LNG & Midstream and Sempra Renewables (discussed in Notes 5 and 12), offset by the 2018 gain on the sale of assets at Sempra Renewables (discussed in Note 5) and the 2017 write-off of SDG&E’s wildfire regulatory asset (discussed in Note 16). Non-U.S. pretax income was lower in 2017 compared to 2016 primarily due to the noncash gain in 2016 associated with the remeasurement of our equity interest in IEnova Pipelines (discussed in Note 5). The components of income tax expense are as follows. INCOME TAX EXPENSE (BENEFIT) (Dollars in millions) Years ended December 31, 2018 2017 2016 Sempra Energy Consolidated: Current: U.S. federal $ (2 ) $ — $ — U.S. state 66 — 1 Non-U.S. 214 116 171 Total 278 116 172 Deferred: U.S. federal (120 ) 536 78 U.S. state (159 ) 297 9 Non-U.S. 101 327 135 Total (178 ) 1,160 222 Deferred investment tax credits (4 ) — (5 ) Total income tax expense $ 96 $ 1,276 $ 389 SDG&E: Current: U.S. federal $ 104 $ 100 $ — U.S. state 30 65 22 Total 134 165 22 Deferred: U.S. federal 17 29 223 U.S. state 24 (41 ) 38 Total 41 (12 ) 261 Deferred investment tax credits (2 ) 2 (3 ) Total income tax expense $ 173 $ 155 $ 280 SoCalGas: Current: U.S. federal $ 4 $ — $ — U.S. state 10 23 40 Total 14 23 40 Deferred: U.S. federal 78 144 123 U.S. state 2 (5 ) (18 ) Total 80 139 105 Deferred investment tax credits (2 ) (2 ) (2 ) Total income tax expense $ 92 $ 160 $ 143 The tables below present the components of deferred income taxes: DEFERRED INCOME TAXES – SEMPRA ENERGY CONSOLIDATED (Dollars in millions) December 31, 2018 2017 Deferred income tax liabilities: Differences in financial and tax bases of fixed assets, investments and other assets (1) $ 3,780 $ 4,233 U.S. state and non-U.S. withholding tax on repatriation of foreign earnings 382 360 Regulatory balancing accounts 359 376 Property taxes 41 37 Other deferred income tax liabilities 130 117 Total deferred income tax liabilities 4,692 5,123 Deferred income tax assets: Tax credits 1,114 1,066 Net operating losses 725 968 Compensation-related items 181 199 Postretirement benefits 255 251 Other deferred income tax assets 92 115 Accrued expenses not yet deductible 69 60 Deferred income tax assets before valuation allowances 2,436 2,659 Less: valuation allowances 164 133 Total deferred income tax assets 2,272 2,526 Net deferred income tax liability (2) $ 2,420 $ 2,597 (1) In addition to the financial over tax basis differences in fixed assets, the amount also includes financial over tax basis differences in various interests in partnerships and certain subsidiaries. (2) At December 31, 2018 and 2017, includes $151 million and $170 million , respectively, recorded as a noncurrent asset and $2,571 million and $2,767 million, respectively, recorded as a noncurrent liability on the Consolidated Balance Sheets. DEFERRED INCOME TAXES – SDG&E AND SOCALGAS (Dollars in millions) SDG&E SoCalGas December 31, December 31, 2018 2017 2018 2017 Deferred income tax liabilities: Differences in financial and tax bases of utility plant and other assets $ 1,578 $ 1,472 $ 1,077 $ 987 Regulatory balancing accounts 84 113 283 271 Property taxes 29 26 13 12 Other 10 10 2 1 Total deferred income tax liabilities 1,701 1,621 1,375 1,271 Deferred income tax assets: Net operating losses — — — 58 Tax credits 6 7 3 15 Postretirement benefits 58 43 140 152 Compensation-related items 5 5 25 25 State income taxes 6 14 3 7 Accrued expenses not yet deductible 4 3 13 12 Other 6 19 14 7 Total deferred income tax assets 85 91 198 276 Net deferred income tax liability $ 1,616 $ 1,530 $ 1,177 $ 995 The following table summarizes our unused NOLs and tax credit carryforwards. NET OPERATING LOSSES AND TAX CREDIT CARRYFORWARDS (Dollars in millions) Unused amount at December 31, 2018 Year expiration begins Sempra Energy Consolidated: U.S. federal: NOLs (1) $ 2,688 2031 General business tax credits (1) 417 2032 Foreign tax credits (2) 624 2024 U.S. state (2) : NOLs 1,942 2019 General business tax credits 82 2019 Non-U.S. (2) NOLs 264 2019 (1) We have recorded deferred income tax benefits on these NOLs and tax credits, in total, because we currently believe they will be realized on a more-likely-than-not-basis. (2) We have not recorded deferred income tax benefits on a portion of these NOLs and tax credits because we currently believe they will not be realized on a more-likely-than-not-basis, as discussed below. At December 31, 2018 , Sempra Energy recorded a valuation allowance against a portion of its total deferred income tax assets, as shown above in the “Deferred Income Taxes – Sempra Energy Consolidated” table. A valuation allowance is recorded when, based on more-likely-than-not criteria, negative evidence outweighs positive evidence with regard to our ability to realize a deferred income tax asset in the future. Of the valuation allowances recorded to date, the negative evidence outweighs the positive evidence primarily due to cumulative pretax losses in various U.S. state and non-U.S. jurisdictions resulting in a deferred income tax asset related to NOLs, as shown in the “Net Operating Losses and Tax Credit Carryforwards” table above, that we currently do not believe will be realized on a more-likely-than-not basis. Of Sempra Energy’s total valuation allowance of $164 million at December 31, 2018 , $20 million is related to non-U.S. NOLs and tax credits, $35 million to U.S. state NOLs and tax credits and $109 million to U.S. NOLs and foreign tax credits. Of Sempra Energy’s total valuation allowance of $133 million at December 31, 2017 , $20 million was related to non-U.S. NOLs and tax credits, $30 million to U.S. state NOLs and tax credits and $83 million to U.S. foreign tax credits. Following is a reconciliation of the changes in unrecognized income tax benefits and the potential effect on our ETR for the years ended December 31: RECONCILIATION OF UNRECOGNIZED INCOME TAX BENEFITS (Dollars in millions) 2018 2017 2016 Sempra Energy Consolidated: Balance at January 1 $ 89 $ 90 $ 87 Increase in prior period tax positions 7 22 2 Decrease in prior period tax positions (1 ) (15 ) (2 ) Increase in current period tax positions 24 4 6 Settlements with taxing authorities — (12 ) (3 ) Balance at December 31 $ 119 $ 89 $ 90 Of December 31 balance, amounts related to tax positions that if recognized in future years would decrease the effective tax rate (1) $ (107 ) $ (77 ) $ (87 ) increase the effective tax rate (1) 24 20 36 SDG&E: Balance at January 1 $ 10 $ 22 $ 20 Increase in prior period tax positions 1 9 — Decrease in prior period tax positions — (11 ) — Increase in current period tax positions — — 2 Settlements with taxing authorities — (10 ) — Balance at December 31 $ 11 $ 10 $ 22 Of December 31 balance, amounts related to tax positions that if recognized in future years would decrease the effective tax rate (1) $ (9 ) $ (7 ) $ (19 ) increase the effective tax rate (1) 1 1 13 SoCalGas: Balance at January 1 $ 35 $ 29 $ 27 Increase in prior period tax positions 2 3 — Decrease in prior period tax positions — — (2 ) Increase in current period tax positions 24 4 4 Settlements with taxing authorities — (1 ) — Balance at December 31 $ 61 $ 35 $ 29 Of December 31 balance, amounts related to tax positions that if recognized in future years would decrease the effective tax rate (1) $ (51 ) $ (26 ) $ (29 ) increase the effective tax rate (1) 23 20 24 (1) Includes temporary book and tax differences that are treated as flow-through for ratemaking purposes, as discussed above. It is reasonably possible that within the next 12 months, unrecognized income tax benefits could decrease due to the following: POSSIBLE DECREASES IN UNRECOGNIZED INCOME TAX BENEFITS WITHIN 12 MONTHS (Dollars in millions) At December 31, 2018 2017 2016 Sempra Energy Consolidated: Expiration of statutes of limitations on tax assessments $ (1 ) $ — $ (2 ) Potential resolution of audit issues with various U.S. federal, state and local and non-U.S. taxing authorities (40 ) (8 ) (36 ) $ (41 ) $ (8 ) $ (38 ) SDG&E: Expiration of statutes of limitations on tax assessments $ — $ — $ (1 ) Potential resolution of audit issues with various U.S. federal, state and local taxing authorities (6 ) (6 ) (10 ) $ (6 ) $ (6 ) $ (11 ) SoCalGas: Potential resolution of audit issues with various U.S. federal, state and local taxing authorities $ (2 ) $ (2 ) $ (25 ) Amounts accrued for interest and penalties associated with unrecognized income tax benefits are included in Income Tax Expense on the Consolidated Statements of Operations. Sempra Energy Consolidated accrued $1 million and a negligible amount for interest expense and penalties at December 31, 2018 and 2017, respectively, on the Consolidated Balance Sheets, and recorded $1 million of interest expense and penalties in 2018 and negligible amounts in each of 2017 and 2016 on the Consolidated Statements of Operations. SDG&E and SoCalGas each accrued negligible amounts for interest expense and penalties at December 31, 2018 and 2017 on the Consolidated Balance Sheets, and recorded negligible amounts of interest expense and penalties in each of 2018, 2017 and 2016 on the Consolidated Statements of Operations. INCOME TAX AUDITS Sempra Energy is subject to U.S. federal income tax as well as income tax of multiple state and non-U.S. jurisdictions. We remain subject to examination for U.S. federal tax years after 2014. We are subject to examination by major state tax jurisdictions for tax years after 2008. Certain major non-U.S. income tax returns for tax years 2008 through the present are open to examination. We are also open to examination for non-U.S. income tax returns related to our prior interest in our commodities business, which we divested in 2010, for years 1999 through 2010. In addition, we have filed state refund claims for tax years back to 2006. The pre-2009 tax years for our major state tax jurisdictions are closed to new issues; therefore, no additional tax may be assessed by the taxing authorities for these tax years. |
EMPLOYEE BENEFIT PLANS
EMPLOYEE BENEFIT PLANS | 12 Months Ended |
Dec. 31, 2018 | |
Retirement Benefits [Abstract] | |
Employee Benefit Plans | EMPLOYEE BENEFIT PLANS For our employee benefit plans, we: ▪ recognize an asset for a plan’s overfunded status or a liability for a plan’s underfunded status in the statement of financial position; ▪ measure a plan’s assets and its obligations that determine its funded status as of the end of the fiscal year; and ▪ recognize changes in the funded status of pension and PBOP plans in the year in which the changes occur. Generally, those changes are reported in OCI and as a separate component of shareholders’ equity. The detailed information presented below covers the employee benefit plans of primarily Sempra Energy and its consolidated subsidiaries. Sempra Energy has funded and unfunded noncontributory traditional defined benefit and cash balance plans, including separate plans for SDG&E and SoCalGas, which collectively cover all eligible employees, including members of the Sempra Energy board of directors who were participants in a predecessor plan on or before June 1, 1998. Pension benefits under the traditional defined benefit plans are based on service and final average earnings, while the cash balance plans provide benefits using a career average earnings methodology. IEnova has an unfunded noncontributory defined benefit plan covering all employees. Chilquinta Energía has an unfunded noncontributory defined benefit plan covering all employees hired before October 1, 1981 and an unfunded noncontributory termination indemnity plan covering represented employees. The plans generally provide defined benefits to retirees based on date of hire, years of service and final average earnings. Sempra Energy also has PBOP plans, including separate plans for SDG&E and SoCalGas, which collectively cover all domestic and certain foreign employees. The life insurance plans are both contributory and noncontributory, and the health care plans are contributory. Participants’ contributions are adjusted annually. Other postretirement benefits include medical benefits for retirees’ spouses. Chilquinta Energía also has two noncontributory postretirement benefit plans that cover represented employees – a health care plan and an energy subsidy plan that provides for reduced energy rates. The health care plan includes benefits for retirees’ spouses and dependents. Pension and other postretirement benefits costs and obligations are dependent on assumptions used in calculating such amounts. In support of its Supplemental Executive Retirement, Cash Balance Restoration and Deferred Compensation Plans, Sempra Energy maintains dedicated assets, including a Rabbi Trust and investments in life insurance contracts, which totaled $416 million and $455 million at December 31, 2018 and 2017 Benefit Plan Amendments Affecting 2018 In 2018, certain executive participants in a company nonqualified pension plan became eligible in this same plan for Supplemental Executive Retirement Plan benefits. This was treated as a plan amendment and increased the recorded pension liability by $12 million at Sempra Energy and $8 million at SDG&E. Sale of Qualified Pension Plan Annuity Contracts In March 2018, an insurance company purchased annuities for certain current annuitants in the SDG&E and SoCalGas qualified pension plans and assumed the obligation for payment of these annuities. At SDG&E in the first quarter of 2018 and at SoCalGas in the second quarter of 2018, the liability transferred for these annuities, plus the total year-to-date lump-sum payments, exceeded the settlement threshold, which triggered settlement accounting. This resulted in a reduction of the recorded pension liability and pension plan assets of $363 million at Sempra Energy Consolidated, including $132 million at SDG&E and $231 million at SoCalGas. This also resulted in settlement charges in net periodic benefit cost of $54 million at Sempra Energy Consolidated, including $22 million at SDG&E and $32 million at SoCalGas. The settlement charges were recorded as regulatory assets on the Consolidated Balance Sheets. Settlement Accounting for Lump Sum Payments In 2018, Sempra Energy Consolidated and SDG&E recorded settlement charges of $12 million and $4 million , respectively, and in 2017, Sempra Energy Consolidated recorded settlement charges of $8 million for lump sum payments from its non-qualified pension plans that were in excess of the respective plan’s service cost plus interest cost, thereby triggering settlement accounting. Acquisition On March 9, 2018, Sempra Energy completed the Merger, as we discuss in Note 5 , and assumed unfunded other postretirement employee benefits obligations for health care and life insurance benefits, resulting in an increase of $21 million in the other postretirement benefit plan liability at Sempra Energy Consolidated. In 2018, we recorded $27 million in AOCI representing an actuarial loss related to Oncor’s pension plan. Special Termination Benefits Affecting 2018, 2017 and 2016 In 2018 and 2016, certain nonrepresented, and in 2017, certain represented, employees age 62 or older with 5 years of service or age 55 to 61 with 10 years of service that retired under the Voluntary Retirement Enhancement Program offered in these years received an additional postretirement health benefit in the form of a $100,000 Health Reimbursement Account. We treated the benefit obligation attributable to the Health Reimbursement Account as a special termination benefit. This resulted in increases to the recorded liability for PBOP and net periodic benefit cost of $5 million for Sempra Energy Consolidated, $3 million for SDG&E and $2 million for SoCalGas in 2018, $18 million for each of Sempra Energy Consolidated and SoCalGas in 2017, and $26 million for Sempra Energy Consolidated, $14 million for SDG&E and $11 million for SoCalGas in 2016. The Voluntary Retirement Enhancement Program resulted in a higher than expected number of retirements in 2017 and 2016. As a result, the total lump-sum benefits paid from the Sempra Energy nonqualified and SoCalGas qualified pension plans in 2017, and the SDG&E qualified pension plan in 2016, exceeded the settlement threshold, which triggered settlement accounting. This resulted in a reduction of the recorded pension liability and pension plan assets of $194 million at Sempra Energy Consolidated and $175 million at SoCalGas in 2017, and $75 million at each of Sempra Energy Consolidated and SDG&E in 2016. This also resulted in settlement charges in net periodic benefit cost of $38 million at Sempra Energy Consolidated and $30 million at SoCalGas in 2017, and $16 million at each of Sempra Energy Consolidated and SDG&E in 2016. The settlement charges at SoCalGas in 2017, and at SDG&E in 2016, were recorded as regulatory assets on the Consolidated Balance Sheets. Measurement dates of December 31, 2017 and 2016 were used for the respective settlement accounting triggered in those years, as the year-to-date lump-sum benefit payments first exceeded the settlement threshold in December of those years. Benefit Obligations and Assets The following three tables provide a reconciliation of the changes in the plans’ projected benefit obligations and the fair value of assets during 2018 and 2017 , and a statement of the funded status at December 31, 2018 and 2017 : PROJECTED BENEFIT OBLIGATION, FAIR VALUE OF ASSETS AND FUNDED STATUS SEMPRA ENERGY CONSOLIDATED (Dollars in millions) Pension benefits Other postretirement benefits 2018 2017 2018 2017 CHANGE IN PROJECTED BENEFIT OBLIGATION Net obligation at January 1 $ 3,857 $ 3,679 $ 963 $ 922 Service cost 124 117 21 21 Interest cost 141 151 36 39 Contributions from plan participants — — 23 20 Actuarial (gain) loss (269 ) 286 (123 ) 6 Plan amendments 12 1 — — Benefit payments (115 ) (182 ) (74 ) (63 ) Special termination benefits — — 5 18 Acquisition — — 21 — Curtailments — (1 ) — — Settlements (394 ) (194 ) — — Net obligation at December 31 3,356 3,857 872 963 CHANGE IN PLAN ASSETS Fair value of plan assets at January 1 2,659 2,459 1,209 1,057 Actual return on plan assets (180 ) 421 (56 ) 185 Employer contributions 190 155 6 10 Contributions from plan participants — — 23 20 Benefit payments (115 ) (182 ) (74 ) (63 ) Settlements (394 ) (194 ) — — Fair value of plan assets at December 31 2,160 2,659 1,108 1,209 Funded status at December 31 $ (1,196 ) $ (1,198 ) $ 236 $ 246 Net recorded (liability) asset at December 31 $ (1,196 ) $ (1,198 ) $ 236 $ 246 PROJECTED BENEFIT OBLIGATION, FAIR VALUE OF ASSETS AND FUNDED STATUS SAN DIEGO GAS & ELECTRIC COMPANY (Dollars in millions) Pension benefits Other postretirement benefits 2018 2017 2018 2017 CHANGE IN PROJECTED BENEFIT OBLIGATION Net obligation at January 1 $ 971 $ 935 $ 185 $ 190 Service cost 30 29 5 5 Interest cost 35 38 7 8 Contributions from plan participants — — 8 7 Actuarial (gain) loss (63 ) 50 (17 ) (9 ) Plan amendments 8 — — — Benefit payments (22 ) (83 ) (21 ) (16 ) Special termination benefits — — 3 — Settlements (145 ) — — — Transfer of liability from other plans — 2 — — Net obligation at December 31 814 971 170 185 CHANGE IN PLAN ASSETS Fair value of plan assets at January 1 776 714 195 169 Actual return on plan assets (56 ) 120 (12 ) 30 Employer contributions 47 22 2 5 Contributions from plan participants — — 8 7 Benefit payments (22 ) (83 ) (21 ) (16 ) Settlements (145 ) — — — Transfer of assets from other plans — 3 — — Fair value of plan assets at December 31 600 776 172 195 Funded status at December 31 $ (214 ) $ (195 ) $ 2 $ 10 Net recorded (liability) asset at December 31 $ (214 ) $ (195 ) $ 2 $ 10 PROJECTED BENEFIT OBLIGATION, FAIR VALUE OF ASSETS AND FUNDED STATUS SOUTHERN CALIFORNIA GAS COMPANY (Dollars in millions) Pension benefits Other postretirement benefits 2018 2017 2018 2017 CHANGE IN PROJECTED BENEFIT OBLIGATION Net obligation at January 1 $ 2,486 $ 2,343 $ 737 $ 691 Service cost 81 76 15 14 Interest cost 92 98 27 29 Contributions from plan participants — — 14 13 Actuarial (gain) loss (215 ) 216 (100 ) 16 Benefit payments (65 ) (73 ) (49 ) (44 ) Special termination benefits — — 2 18 Settlements (231 ) (175 ) — — Transfer of liability from other plans — 1 — — Net obligation at December 31 2,148 2,486 646 737 CHANGE IN PLAN ASSETS Fair value of plan assets at January 1 1,694 1,579 993 870 Actual return on plan assets (117 ) 269 (43 ) 151 Employer contributions 104 93 1 3 Contributions from plan participants — — 14 13 Benefit payments (65 ) (73 ) (49 ) (44 ) Settlements (231 ) (175 ) — — Transfer of assets from other plans — 1 — — Fair value of plan assets at December 31 1,385 1,694 916 993 Funded status at December 31 $ (763 ) $ (792 ) $ 270 $ 256 Net recorded (liability) asset at December 31 $ (763 ) $ (792 ) $ 270 $ 256 Actuarial (gains) losses fluctuate based on changes in assumptions that we describe below in “Assumptions for Pension and Other Postretirement Benefit Plans” and updates to census data. In 2018, 2017 and 2016, the Society of Actuaries released updated mortality improvement projection scales, reflecting changes to projected observed longevity improvements in its mortality tables. We have incorporated these assumptions, adjusted for the Sempra Energy companies’ actual mortality experience, in our calculations for each of those years. Actuarial gains in pension plans at Sempra Energy Consolidated in 2018 were driven primarily by an increase in discount rates at SDG&E, SoCalGas and Sempra Energy and, additionally at SDG&E, due to updated census data, and at SoCalGas, due to a decrease in the conversion rate used to determine lump-sum distributions. The actuarial gains were partially offset by actuarial losses at SoCalGas and Sempra Energy due to updated census data and, additionally at SDG&E and SoCalGas, due to an increase in the interest crediting rate for the cash balance plans. Actuarial gains in PBOP plans at Sempra Energy Consolidated in 2018 were driven primarily by an increase in discount rates at SDG&E and SoCalGas and, additionally at SoCalGas, due to a reduction in the 2019 expected health care costs. Net Assets and Liabilities The assets and liabilities of the pension and PBOP plans are affected by changing market conditions as well as when actual plan experience is different than assumed. Such events result in investment gains and losses, which we defer and recognize in pension and other postretirement benefit costs over a period of years. Our funded pension and PBOP plans use the asset smoothing method, except for those at SDG&E. This method develops an asset value that recognizes realized and unrealized investment gains and losses over a three-year period. This adjusted asset value, known as the market-related value of assets, is used in conjunction with an expected long-term rate of return to determine the expected return-on-assets component of net periodic benefit cost. SDG&E does not use the asset smoothing method, but rather recognizes realized and unrealized investment gains and losses during the current year. The 10 -percent corridor accounting method is used at Sempra Energy Consolidated, SDG&E and SoCalGas. Under the corridor accounting method, if as of the beginning of a year unrecognized net gain or loss exceeds 10 percent of the greater of the projected benefit obligation or the market-related value of plan assets, the excess is amortized over the average remaining service period of active participants. The asset smoothing and 10 -percent corridor accounting methods help mitigate volatility of net periodic benefit costs from year to year. We recognize the overfunded or underfunded status of defined benefit pension and other postretirement plans as assets or liabilities, respectively; unrecognized changes in these assets and/or liabilities are normally recorded in AOCI on the balance sheet. The California Utilities record regulatory assets and liabilities that offset the funded pension and other postretirement plans’ assets or liabilities, as these costs are expected to be recovered in future utility rates based on decisions by regulatory agencies. The California Utilities record annual pension and other postretirement net periodic benefit costs equal to the contributions to their qualified plans as authorized by the CPUC. The annual contributions to the pension plans are limited to a minimum required funding amount as determined by the IRS. The annual contributions to PBOP plans are equal to the lesser of the maximum tax deductible amount or the net periodic cost calculated in accordance with U.S. GAAP for pension and PBOP plans. Any differences between booked net periodic benefit cost and amounts contributed to the pension and other postretirement plans for the California Utilities are disclosed as regulatory adjustments in accordance with U.S. GAAP for rate-regulated entities. The net (liability) asset is included in the following categories on the Consolidated Balance Sheets at December 31: PENSION AND OTHER POSTRETIREMENT BENEFIT OBLIGATIONS, NET OF PLAN ASSETS (Dollars in millions) Pension benefits Other postretirement benefits 2018 2017 2018 2017 Sempra Energy Consolidated: Noncurrent assets $ — $ — $ 272 $ 266 Current liabilities (65 ) (69 ) (6 ) (1 ) Noncurrent liabilities (1,131 ) (1,129 ) (30 ) (19 ) Net recorded (liability) asset $ (1,196 ) $ (1,198 ) $ 236 $ 246 SDG&E: Noncurrent assets $ — $ — $ 2 $ 10 Current liabilities (2 ) (13 ) — — Noncurrent liabilities (212 ) (182 ) — — Net recorded (liability) asset $ (214 ) $ (195 ) $ 2 $ 10 SoCalGas: Noncurrent assets $ — $ — $ 270 $ 256 Current liabilities (3 ) (3 ) — — Noncurrent liabilities (760 ) (789 ) — — Net recorded (liability) asset $ (763 ) $ (792 ) $ 270 $ 256 Amounts recorded in AOCI at December 31, net of income tax effects and amounts recorded as regulatory assets, are as follows: AMOUNTS IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Dollars in millions) Pension benefits Other postretirement benefits 2018 2017 2018 2017 Sempra Energy Consolidated: Net actuarial (loss) gain $ (114 ) $ (84 ) $ 8 $ 4 Prior service cost (12 ) (4 ) — — Total $ (126 ) $ (88 ) $ 8 $ 4 SDG&E: Net actuarial loss $ (4 ) $ (8 ) Prior service cost (6 ) — Total $ (10 ) $ (8 ) SoCalGas: Net actuarial loss $ (6 ) $ (6 ) Prior service cost (2 ) (2 ) Total $ (8 ) $ (8 ) OBLIGATIONS OF FUNDED PENSION PLANS (Dollars in millions) 2018 2017 Sempra Energy Consolidated: Projected benefit obligation $ 3,130 $ 3,623 Accumulated benefit obligation 2,894 3,334 Fair value of plan assets 2,160 2,659 SDG&E: Projected benefit obligation $ 788 $ 939 Accumulated benefit obligation 762 900 Fair value of plan assets 600 776 SoCalGas: Projected benefit obligation $ 2,123 $ 2,462 Accumulated benefit obligation 1,919 2,220 Fair value of plan assets 1,385 1,694 We also have unfunded pension plans at Sempra Energy, SDG&E, SoCalGas, IEnova and Chilquinta Energía. The following table shows the obligations of unfunded pension plans at December 31: OBLIGATIONS OF UNFUNDED PENSION PLANS (Dollars in millions) 2018 2017 Sempra Energy Consolidated: Projected benefit obligation $ 226 $ 234 Accumulated benefit obligation 201 215 SDG&E: Projected benefit obligation $ 26 $ 32 Accumulated benefit obligation 19 30 SoCalGas: Projected benefit obligation $ 25 $ 24 Accumulated benefit obligation 21 21 Sempra Energy, SDG&E and SoCalGas each have a funded other postretirement benefit plan. The following table shows the obligations of funded other postretirement benefit plans with accumulated postretirement benefit obligations in excess of plan assets at December 31: OBLIGATIONS OF FUNDED OTHER POSTRETIREMENT BENEFIT PLANS (Dollars in millions) 2018 2017 Sempra Energy Consolidated: Accumulated postretirement benefit obligation $ 30 $ 32 Fair value of plan assets 20 21 We also have unfunded other postretirement benefit plans at Sempra Energy and Chilquinta Energía. The following table shows the obligations of unfunded other postretirement benefit plans at December 31: OBLIGATIONS OF UNFUNDED OTHER POSTRETIREMENT BENEFIT PLANS (Dollars in millions) 2018 2017 Sempra Energy Consolidated: Accumulated postretirement benefit obligation $ 26 $ 9 The following tables provide the components of net periodic benefit cost and pretax amounts recognized in OCI for the years ended December 31: NET PERIODIC BENEFIT COST AND AMOUNTS RECOGNIZED IN OCI SEMPRA ENERGY CONSOLIDATED (Dollars in millions) Pension benefits Other postretirement benefits 2018 2017 2016 2018 2017 2016 NET PERIODIC BENEFIT COST Service cost $ 124 $ 117 $ 107 $ 21 $ 21 $ 20 Interest cost 141 151 160 36 39 42 Expected return on assets (157 ) (161 ) (166 ) (70 ) (66 ) (69 ) Amortization of: Prior service cost 11 11 11 1 1 — Actuarial loss (gain) 23 36 30 (6 ) (4 ) (1 ) Settlement charges 66 38 16 — — — Special termination benefits — — — 5 18 26 Net periodic benefit cost 208 192 158 (13 ) 9 18 Regulatory adjustment (30 ) (42 ) (57 ) 17 — (11 ) Total expense recognized 178 150 101 4 9 7 CHANGES IN PLAN ASSETS AND BENEFIT OBLIGATIONS RECOGNIZED IN OCI Net loss (gain) 56 — 26 (4 ) (2 ) (2 ) Prior service cost 12 1 — — — — Amortization of actuarial loss (12 ) (10 ) (10 ) — — — Amortization of prior service cost (2 ) (1 ) (1 ) — — — Settlements (12 ) (8 ) — — — — Total recognized in OCI 42 (18 ) 15 (4 ) (2 ) (2 ) Total recognized in net periodic benefit cost and OCI $ 220 $ 132 $ 116 $ — $ 7 $ 5 NET PERIODIC BENEFIT COST AND AMOUNTS RECOGNIZED IN OCI SAN DIEGO GAS & ELECTRIC COMPANY (Dollars in millions) Pension benefits Other postretirement benefits 2018 2017 2016 2018 2017 2016 NET PERIODIC BENEFIT COST Service cost $ 30 $ 29 $ 29 $ 5 $ 5 $ 5 Interest cost 35 38 41 7 8 7 Expected return on assets (47 ) (47 ) (49 ) (13 ) (11 ) (12 ) Amortization of: Prior service cost 2 1 1 3 3 3 Actuarial loss (gain) 1 9 10 (3 ) — (1 ) Settlement charges 26 — 16 — — — Special termination benefits — — — 3 — 14 Net periodic benefit cost 47 30 48 2 5 16 Regulatory adjustment (8 ) (8 ) (45 ) — — (14 ) Total expense recognized 39 22 3 2 5 2 CHANGES IN PLAN ASSETS AND BENEFIT OBLIGATIONS RECOGNIZED IN OCI Net (gain) loss (1 ) 2 1 — — — Prior service cost 8 — — — — — Amortization of actuarial loss (1 ) (1 ) (1 ) — — — Settlements (4 ) — — — — — Total recognized in OCI 2 1 — — — — Total recognized in net periodic benefit cost and OCI $ 41 $ 23 $ 3 $ 2 $ 5 $ 2 NET PERIODIC BENEFIT COST AND AMOUNTS RECOGNIZED IN OCI SOUTHERN CALIFORNIA GAS COMPANY (Dollars in millions) Pension benefits Other postretirement benefits 2018 2017 2016 2018 2017 2016 NET PERIODIC BENEFIT COST Service cost $ 81 $ 76 $ 67 $ 15 $ 14 $ 14 Interest cost 92 98 101 27 29 32 Expected return on assets (98 ) (103 ) (103 ) (56 ) (53 ) (56 ) Amortization of: Prior service cost (credit) 8 9 9 (3 ) (3 ) (4 ) Actuarial loss (gain) 13 19 11 (2 ) (3 ) — Settlement charges 32 30 — — — — Special termination benefits — — — 2 18 11 Net periodic benefit cost 128 129 85 (17 ) 2 (3 ) Regulatory adjustment (22 ) (34 ) (12 ) 17 — 3 Total expense recognized 106 95 73 — 2 — CHANGES IN PLAN ASSETS AND BENEFIT OBLIGATIONS RECOGNIZED IN OCI Net loss 1 — 4 — — — Prior service cost — — 2 — — — Amortization of prior service cost (1 ) (1 ) — — — — Total recognized in OCI — (1 ) 6 — — — Total recognized in net periodic benefit cost and OCI $ 106 $ 94 $ 79 $ — $ 2 $ — Benefit Obligation and Net Periodic Benefit Cost Except for the IEnova and Chilquinta Energía plans, we develop the discount rate assumptions based on the results of a third party modeling tool that matches each plan’s expected cash flows to interest rates and expected maturity values of individually selected bonds in a hypothetical portfolio. The model controls the level of accumulated surplus that may result from the selection of bonds based solely on their premium yields by limiting the number of years to look back for selection to 3 years for pre-30-year and 6 years for post-30-year benefit payments. Additionally, the model ensures that an adequate number of bonds are selected in the portfolio by limiting the amount of the plan’s benefit payments that can be met by a single bond to 7.5 percent. We selected individual bonds from a universe of Bloomberg AA-rated bonds that: ▪ have an outstanding issue of at least $50 million; ▪ are non-callable (or callable with make-whole provisions); ▪ exclude collateralized bonds; and ▪ exclude the top and bottom 10 percent of yields to avoid relying on bonds that might be mispriced or misgraded . This selection methodology also mitigates the impact of market volatility on the portfolio by excluding bonds with the following characteristics: ▪ the issuer is on review for downgrade by a major rating agency if the downgrade would eliminate the issuer from the portfolio; ▪ recent events have caused significant price volatility to which rating agencies have not reacted; and ▪ lack of liquidity is causing price quotes to vary significantly from broker to broker. We believe that this bond selection approach provides the best estimate of discount rates to estimate settlement values for our plans’ benefit obligations as required by applicable U.S. GAAP. We develop the discount rate assumptions for the plans at IEnova by constructing a synthetic government zero coupon bond yield curve from the available market data, based on duration matching, and we add a risk spread to allow for the yields of high-quality corporate bonds. We develop the discount rate assumptions for the plans at Chilquinta Energía based on 10 -year Chilean government bond yields and the expected local long-term rate of inflation. These methods for developing the discount rate are required when there is no deep market for high quality corporate bonds. Long-term return on assets is based on the weighted-average of the plans’ investment allocation as of the measurement date and the expected returns for those asset types. Interest crediting rate is based on an average 30-year Treasury bond from the month of November of the preceding year. We amortize prior service cost using straight line amortization over average future service (or average expected lifetime for plans where participants are substantially inactive employees), which is an alternative method allowed under U.S. GAAP. The significant assumptions affecting benefit obligation and net periodic benefit cost are as follows: WEIGHTED-AVERAGE ASSUMPTIONS USED TO DETERMINE BENEFIT OBLIGATION AT DECEMBER 31 Pension benefits Other postretirement benefits 2018 2017 2018 2017 Sempra Energy Consolidated: Discount rate 4.30 % 3.65 % 4.30 % 3.70 % Interest crediting rate (1)(2) 3.36 2.80 3.36 2.80 Rate of compensation increase 2.00-10.00 2.00-10.00 2.00-10.00 2.00-10.00 SDG&E: Discount rate 4.29 % 3.64 % 4.30 % 3.65 % Interest crediting rate (1)(2) 3.36 2.80 3.36 2.80 Rate of compensation increase 2.00-10.00 2.00-10.00 2.00-10.00 2.00-10.00 SoCalGas: Discount rate 4.30 % 3.65 % 4.30 % 3.70 % Interest crediting rate (1)(2) 3.36 2.80 3.36 2.80 Rate of compensation increase 2.00-10.00 2.00-10.00 2.00-10.00 2.00-10.00 (1) Interest crediting rate for pension benefits applies only to funded cash balance plans. (2) Interest crediting rate for other postretirement benefits applies only to interest bearing health retirement accounts at SDG&E and SoCalGas. WEIGHTED-AVERAGE ASSUMPTIONS USED TO DETERMINE NET PERIODIC BENEFIT COST YEARS ENDED DECEMBER 31 Pension benefits Other postretirement benefits 2018 2017 2016 2018 2017 2016 Sempra Energy Consolidated: Discount rate 3.65 % 4.08 % 4.46 % 3.70 % 4.19 % 4.49 % Expected return on plan assets 7.00 7.00 7.00 6.49 6.47 6.98 Interest crediting rate (1)(2) 2.80 2.86 3.03 2.80 2.86 3.03 Rate of compensation increase 2.00-10.00 2.00-10.00 2.00-10.00 2.00-10.00 2.00-10.00 2.00-10.00 SDG&E: Discount rate 3.64 % 4.08 % 4.35 % 3.65 % 4.15 % 4.50 % Expected return on plan assets 7.00 7.00 7.00 6.94 6.91 6.90 Interest crediting rate (1)(2) 2.80 2.86 3.03 2.80 2.86 3.03 Rate of compensation increase 2.00-10.00 2.00-10.00 2.00-10.00 2.00-10.00 2.00-10.00 2.00-10.00 SoCalGas: Discount rate 3.65 % 4.10 % 4.50 % 3.70 % 4.20 % 4.50 % Expected return on plan assets 7.00 7.00 7.00 6.38 6.37 7.00 Interest crediting rate (1)(2) 2.80 2.86 3.03 2.80 2.86 3.03 Rate of compensation increase 2.00-10.00 2.00-10.00 2.00-10.00 2.00-10.00 2.00-10.00 2.00-10.00 (1) Interest crediting rate for pension benefits applies only to funded cash balance plans. (2) Interest crediting rate for other postretirement benefits applies only to interest bearing health retirement accounts at SDG&E and SoCalGas. Health Care Cost Trend Rates Assumed health care cost trend rates have a significant effect on the amounts that we report for the health care plan costs. Following are the health care cost trend rates applicable to our postretirement benefit plans: ASSUMED HEALTH CARE COST TREND RATES AT DECEMBER 31 Other postretirement benefit plans Pre-65 retirees Retirees aged 65 years and older 2018 2017 2016 2018 2017 2016 Health care cost trend rate assumed for next year 6.50 % 7.00 % 8.00 % 4.75 % 5.00 % 5.50 % Rate to which the cost trend rate is assumed to decline (the ultimate trend) 4.75 % 5.00 % 5.00 % 4.50 % 4.50 % 4.50 % Year the rate reaches the ultimate trend 2025 2022 2022 2022 2022 2022 Investment Allocation Strategy for Sempra Energy’s Pension Master Trust Sempra Energy’s pension master trust holds the investments for our pension plans and a portion of the investments for our PBOP plans. We maintain additional trusts, as we discuss below, for certain of the California Utilities’ PBOP plans. Other than through indexing strategies, the trusts do not invest in securities of Sempra Energy. The current asset allocation objective for the pension master trust is to protect the funded status of the plans while generating sufficient returns to cover future benefit payments and accruals. We assess the portfolio performance by comparing actual returns with relevant benchmarks. Currently, the pension plans’ target asset allocations are: ▪ 35 percent domestic equity; ▪ 24 percent international equity; ▪ 18 percent long credit; ▪ 8 percent ultra-long duration government securities; ▪ 5 percent global real estate investment trusts; ▪ 5 percent return-seeking credit; and ▪ 5 percent real assets. The asset allocation of the plans is reviewed by our Plan Funding Committee and our Pension and Benefits Investment Committee (the Committees) on a regular basis. When evaluating strategic asset allocations, the Committees consider many variables, including: ▪ long-term cost; ▪ variability and level of contributions; ▪ funded status; and ▪ a range of expected outcomes over varying confidence levels. We maintain asset allocations at strategic levels with reasonable bands of variance. In accordance with the Sempra Energy pension investment guidelines, derivative financial instruments may be used by the pension master trust’s equity and fixed income portfolio investment managers to equitize cash, hedge certain exposures, and as substitutes for certain types of fixed income securities. Rate of Return Assumption The expected return on assets in our pension and PBOP plans is based on the weighted-average of the plans’ investment allocations to specific asset classes as of the measurement date. We arrive at a 7 -percent expected return on assets by considering both the historical and forecasted long-term rates of return on those asset classes. We expect a return of between 7 percent and 9 percent on return-seeking assets and between 3 percent and 5 percent for risk-mitigating assets. Certain trusts that hold assets for the SDG&E other postretirement benefit plan are subject to taxation, which impacts the expected after-tax return on assets in the plan. Concentration of Risk Plan assets are diversified across global equity and bond markets, and concentration of risk in any one economic, industry, maturity or geographic sector is limited. I nvestment Strategy for SDG&E’s and SoCalGas’ Other Postretirement Benefit Plans SDG&E’s and SoCalGas’ PBOP plans are funded by cash contributions from SDG&E and SoCalGas and their current retirees. The assets of these plans are placed into the pension master trust and other Voluntary Employee Beneficiary Association trusts. Certain assets of SoCalGas’ PBOP plans, which are held in the pension master trust, are invested based on an allocation that seeks to mitigate risks for the assets of these plans, with 38 percent invested in return-seeking and 62 percent invested in risk-mitigating assets. The assets in the Voluntary Employee Beneficiary Association trusts are invested at an allocation similar to the pension master trust, with 74 percent invested in return-seeking and 26 percent We classify the investments in Sempra Energy’s pension master trust and the trusts for the California Utilities’ PBOP plans based on the fair value hierarchy, except for certain investments measured at NAV. The following are descriptions of the valuation methods and assumptions we use to estimate the fair values of investments held by pension and other postretirement benefit plan trusts. Equity Securities – Equity securities are valued using quoted prices listed on nationally recognized securities exchanges. Fixed Income Securities – Certain fixed income securities are valued at the closing price reported in the active market in which the security is traded. Other fixed income securities are valued based on yields currently available on comparable securities of issuers with similar credit ratings. When quoted prices are not available for identical or similar securities, the security is valued under a discounted cash flow approach that maximizes observable inputs, such as current yields of similar instruments, but includes adjustments for certain risks that may not be observable, such as credit and liquidity risks. Certain high yield fixed-income securities are valued by applying a price adjustment to the bid side to calculate a mean and ask value. Adjustments can vary based on maturity, credit standing, and reported trade frequencies. The bid to ask spread is determined by the investment manager based on the review of the available market information. Registered Investment Companies – Investments in mutual funds sponsored by a registered investment company are valued based on exchange listed prices. Where the value is a quoted price in an active market, the investment is classified within Level 1 of the fair value hierarchy. Investments in certain fixed income securities are valued under a discounted cash flow approach that maximizes observable inputs, such as current yields of similar instruments, but includes adjustments for certain risks that may not be observable, such as credit and liquidity risks for the remaining fixed income securities. Common/Collective Tr |
SHARE-BASED COMPENSATION
SHARE-BASED COMPENSATION | 12 Months Ended |
Dec. 31, 2018 | |
Share-based Compensation [Abstract] | |
Share-based Compensation | SHARE-BASED COMPENSATION SEMPRA ENERGY EQUITY COMPENSATION PLANS Sempra Energy has share-based compensation plans intended to align employee and shareholder objectives related to the long-term growth of Sempra Energy. The plans permit a wide variety of share-based awards, including: ▪ non-qualified stock options; ▪ incentive stock options; ▪ restricted stock awards; ▪ restricted stock units; ▪ stock appreciation rights; ▪ performance awards; ▪ stock payments; and ▪ dividend equivalents. Eligible employees, including those from the California Utilities, participate in Sempra Energy’s share-based compensation plans as a component of their compensation package. In the three years ended December 31, 2018, Sempra Energy had the following types of equity awards outstanding: ▪ Non-Qualified Stock Options: Options to purchase common stock have an exercise price equal to the market price of the common stock at the date of grant, are service-based, become exercisable over a four -year period, and expire 10 years from the date of grant. Vesting and/or the ability to exercise may be accelerated upon a change in control, in accordance with severance pay agreements or in accordance with the terms of the grant. Options are subject to forfeiture or earlier expiration following termination of employment, subject to certain exceptions. ▪ Performance-Based Restricted Stock Units: These RSU awards generally vest in Sempra Energy common stock at the end of three -year (for awards granted during or after 2015) or four -year performance periods (for awards granted prior to 2015) based on Sempra Energy’s total return to shareholders relative to that of specified market indices or based on the compound annual growth rate of Sempra Energy’s EPS. The comparative market indices for the awards that vest based on total return to shareholders are the S&P 500 Utilities Index and the S&P 500 Index. We use long-term analyst consensus growth estimates for S&P 500 Utilities Index peer companies to develop our targets for awards that vest based on EPS growth. ◦ For awards granted in 2013 or earlier, if Sempra Energy’s total return to shareholders exceeds target levels, up to an additional 50 percent of the number of granted RSUs may be issued. ◦ For awards granted during or after 2014, up to an additional 100 percent of the granted RSUs may be issued if total return to shareholders or EPS growth exceeds target levels. ◦ For awards granted in 2015 and 2016 and certain awards granted in 2017 and 2018 that vest based on Sempra Energy’s total return to shareholders, a modifier adds 20 percent to the award’s payout (as initially calculated based on total return to shareholders relative to that of specified market indices) for total shareholder return performance in the top quartile relative to historical benchmark data for Sempra Energy and reduces the award’s payout by 20 percent for performance in the bottom quartile. However, in no event will more than an additional 100 percent of the granted RSUs be issued. If performance falls within the second or third quartiles, the modifier is not triggered, and the payout is based solely on total return to shareholders relative to that of specified market indices. If Sempra Energy’s total return to shareholders or EPS growth is below the target levels but above threshold performance levels, shares are subject to partial vesting on a pro rata basis. ▪ Other Performance-Based Restricted Stock Units: RSUs were granted in 2014 and 2015 in connection with the creation of Cameron LNG JV. ◦ The 2014 awards vested to the extent that the Compensation Committee of Sempra Energy’s board of directors determined that the objectives of the JV were achieved. Those awards vested on the anniversary of the grant date over a period of either two or three years. ◦ The 2015 awards are expected to vest to the extent that both of the following are achieved: (a) the Compensation Committee of Sempra Energy’s board of directors determines that Sempra Energy has achieved positive cumulative net income for fiscal years 2015 through 2017 and (b) Cameron LNG JV has commenced commercial operations of the first train. ▪ Service-Based Restricted Stock Units: RSUs may also be service-based; these generally vest at the end of three -year (for awards granted during or after 2015 through 2018) or four -year service periods (for awards granted prior to 2015). ▪ Restricted Stock Awards: RSAs are solely service-based and generally vest at the end of four years of service. Accelerated vesting of RSAs may occur upon eligibility for retirement. Holders of RSAs have full voting rights. For RSA and RSU awards, vesting may be subject to earlier forfeiture upon termination of employment and accelerated vesting upon a change in control under the applicable long-term incentive plan, in accordance with severance pay agreements , or at the discretion of the Compensation Committee of Sempra Energy’s board of directors . Dividend equivalents on shares subject to RSAs and RSUs are reinvested to purchase additional common shares that become subject to the same vesting conditions as the RSAs and RSUs to which the dividends relate. The IEnova 2013 Long-Term Incentive Plan is intended to align the interests of employees and directors of IEnova with its shareholders. All awards issued from this plan and any related dividend equivalents will settle in cash at vesting based on the price of IEnova common stock. In 2018, 2017 and 2016, IEnova granted 966,747 RSUs, 1,043,709 RSUs and 378,367 RSUs, respectively, from this plan, 696,787 of which remain outstanding at December 31, 2018. In 2018, 2017 and 2016, IEnova paid cash of $3 million , $2 million and $1 million , respectively, to settle vested awards. SHARE-BASED AWARDS AND COMPENSATION EXPENSE At December 31, 2018, 6,067,767 common shares were authorized and available for future grants of share-based awards. Our practice is to satisfy share-based awards by issuing new shares rather than by open-market purchases. We measure and recognize compensation expense for all share-based payment awards made to our employees and directors based on estimated fair values on the date of grant. We recognize compensation costs net of an estimated forfeiture rate (based on historical experience) and recognize the compensation costs for non-qualified stock options, RSAs and RSUs on a straight-line basis over the requisite service period of the award, which is generally three or four years. However, for awards granted to retirement-eligible participants, the expense is recognized over the initial year in which the award was granted. For awards granted to participants who become eligible for retirement during the requisite service period, the expense is recognized over the period between the date of grant and the later of the end of the year in which the award was granted or the date the participant first becomes eligible for retirement. Substantially all awards outstanding are classified as equity instruments; therefore, we recognize additional paid in capital as we recognize the compensation expense associated with the awards. We recognize in earnings the tax benefits (or deficiencies) resulting from tax deductions that are in excess of (or less than) tax benefits related to compensation cost recognized for share-based payments. Sempra Energy subsidiaries record an expense for the plans to the extent that subsidiary employees participate in the plans and/or the subsidiaries are allocated a portion of the Sempra Energy plans’ corporate staff costs. Total share-based compensation expense for all of Sempra Energy’s share-based awards was comprised as follows: SHARE-BASED COMPENSATION EXPENSE (Dollars in millions) Years ended December 31, 2018 2017 2016 Sempra Energy Consolidated: Share-based compensation expense, before income taxes $ 76 $ 78 $ 46 Income tax benefit (21 ) (31 ) (18 ) $ 55 $ 47 $ 28 Capitalized share-based compensation cost $ 10 $ 9 $ 7 Excess income tax deficiency (benefit) $ 15 $ — $ (34 ) SDG&E: Share-based compensation expense, before income taxes $ 12 $ 13 $ 7 Income tax benefit (3 ) (5 ) (3 ) $ 9 $ 8 $ 4 Capitalized share-based compensation cost $ 6 $ 5 $ 4 Excess income tax deficiency (benefit) $ 3 $ — $ (7 ) SoCalGas: Share-based compensation expense, before income taxes $ 16 $ 17 $ 8 Income tax benefit (5 ) (7 ) (3 ) $ 11 $ 10 $ 5 Capitalized share-based compensation cost $ 4 $ 4 $ 3 Excess income tax deficiency (benefit) $ 2 $ — $ (4 ) SEMPRA ENERGY NON-QUALIFIED STOCK OPTIONS We use a Black-Scholes option-pricing model to estimate the fair value of each non-qualified stock option grant. The use of a valuation model requires us to make certain assumptions about selected model inputs. Expected volatility is calculated based on the historical volatility of Sempra Energy’s common stock price. We base the average expected life for options on the contractual term of the option and expected employee exercise and post-termination behavior. The risk-free interest rate is based on U.S. Treasury zero-coupon issues with a remaining term equal to the expected life assumed at the date of the grant. The following table shows a summary of non-qualified stock options at December 31, 2018 and activity for the year then ended: NON-QUALIFIED STOCK OPTIONS Common shares under option Weighted- average exercise price Weighted- average remaining contractual term (in years) Aggregate intrinsic value (in millions) Outstanding at January 1, 2018 195,801 $ 50.30 Exercised (138,861 ) $ 48.53 Outstanding at December 31, 2018 56,940 $ 54.63 0.9 $ 3 Vested at December 31, 2018 56,940 $ 54.63 0.9 $ 3 Exercisable at December 31, 2018 56,940 $ 54.63 0.9 $ 3 The aggregate intrinsic value at December 31, 2018 is the total of the difference between Sempra Energy’s closing common stock price and the exercise price for all in-the-money options. The aggregate intrinsic value for non-qualified stock options exercised in the last three years was: ▪ $9 million in 2018 ; ▪ $9 million in 2017 ; and ▪ $8 million in 2016 . We have no t granted any stock options since 2010, though in January 2019, we granted non-qualified stock options to several executive officers of Sempra Energy. All outstanding stock options at December 31, 2018 are fully vested and compensation cost on such stock options was fully recognized by December 31, 2014. We received cash of $7 million from stock option exercises during 2018. SEMPRA ENERGY RESTRICTED STOCK AWARDS AND UNITS We use a Monte-Carlo simulation model to estimate the fair value of our RSAs and for our RSUs that vest based on Sempra Energy’s total return to shareholders. Our determination of fair value is affected by the historical volatility of the common stock price for Sempra Energy and its peer group companies. The valuation also is affected by the risk-free rates of return, and a number of other variables. Below are key assumptions for Sempra Energy awards granted in the last three years: KEY ASSUMPTIONS FOR AWARDS GRANTED Years ended December 31, 2018 2017 2016 Risk-free rate of return 2.0 % 1.5 % 1.3 % Stock price volatility 17 17 16 Restricted Stock Awards We have no t granted any RSAs since 2013. All outstanding RSAs were fully vested and all compensation cost related to RSAs had been recognized by December 31, 2016. The total fair value of RSA shares vested in 2016 was negligible. Restricted Stock Units We provide below a summary of Sempra Energy’s RSUs as of December 31, 2018 and the activity during the year. RESTRICTED STOCK UNITS Performance-based restricted stock units Service-based restricted stock units Units Weighted- average grant-date fair value Units Weighted- average Nonvested at January 1, 2018 1,701,617 $ 105.84 285,895 $ 98.81 Granted 358,363 $ 105.03 288,474 $ 107.60 Vested (157,745 ) $ 99.42 (163,609 ) $ 100.60 Forfeited (660,066 ) $ 106.45 (8,399 ) $ 103.32 Nonvested at December 31, 2018 (1) 1,242,169 $ 106.11 402,361 $ 105.01 Expected to vest at December 31, 2018 1,211,529 $ 105.47 396,358 $ 104.26 (1) Each RSU represents the right to receive one share of our common stock if applicable performance conditions are satisfied. For all performance-based RSUs, except for those issued in connection with the creation of Cameron LNG JV, up to an additional 100 percent of the shares represented by the RSUs may be issued if Sempra Energy exceeds target performance conditions. In 2018, 2017 and 2016, the total fair value of RSU shares vested during the year was $32 million , $45 million and $46 million , respectively. The $24 million of total compensation cost related to nonvested RSUs not yet recognized as of December 31, 2018 is expected to be recognized over a weighted-average period of 1.8 years. The weighted-average per-share fair values for performance-based RSUs granted were $110.54 and $100.37 in 2017 and 2016 , respectively. The weighted-average per-share fair values for service-based RSUs granted were $101.88 and $93.59 in 2017 and 2016 |
DERIVATIVE FINANCIAL INSTRUMENT
DERIVATIVE FINANCIAL INSTRUMENTS | 12 Months Ended |
Dec. 31, 2018 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Financial Instruments | DERIVATIVE FINANCIAL INSTRUMENTS We use derivative instruments primarily to manage exposures arising in the normal course of business. Our principal exposures are commodity market risk, benchmark interest rate risk and foreign exchange rate exposures. Our use of derivatives for these risks is integrated into the economic management of our anticipated revenues, anticipated expenses, assets and liabilities. Derivatives may be effective in mitigating these risks (1) that could lead to declines in anticipated revenues or increases in anticipated expenses, or (2) that our asset values may fall or our liabilities increase. Accordingly, our derivative activity summarized below generally represents an impact that is intended to offset associated revenues, expenses, assets or liabilities that are not included in the tables below. In certain cases, we apply the normal purchase or sale exception to derivative instruments and have other commodity contracts that are not derivatives. These contracts are not recorded at fair value and are therefore excluded from the disclosures below. In all other cases, we record derivatives at fair value on the Consolidated Balance Sheets. We designate each derivative as (1) a cash flow hedge, (2) a fair value hedge, or (3) undesignated. Depending on the applicability of hedge accounting and, for the California Utilities and other operations subject to regulatory accounting, the requirement to pass impacts through to customers, the impact of derivative instruments may be offset in OCI (cash flow hedge), on the balance sheet (fair value hedges and regulatory offsets), or recognized in earnings. We classify cash flows from the principal settlements of cross-currency swaps that hedge exposure related to Mexican peso-denominated debt as financing activities and settlements of other derivative instruments as operating activities on the Consolidated Statements of Cash Flows. HEDGE ACCOUNTING We may designate a derivative as a cash flow hedging instrument if it effectively converts anticipated cash flows associated with revenues or expenses to a fixed dollar amount. We may utilize cash flow hedge accounting for derivative commodity instruments, foreign currency instruments and interest rate instruments. Designating cash flow hedges is dependent on the business context in which the instrument is being used, the effectiveness of the instrument in offsetting the risk that the future cash flows of a given revenue or expense item may vary, and other criteria. We may designate an interest rate derivative as a fair value hedging instrument if it effectively converts our own debt from a fixed interest rate to a variable rate. The combination of the derivative and debt instrument results in fixing that portion of the fair value of the debt that is related to benchmark interest rates. Designating fair value hedges is dependent on the instrument being used, the effectiveness of the instrument in offsetting changes in the fair value of our debt instruments, and other criteria. ENERGY DERIVATIVES Our market risk is primarily related to natural gas and electricity price volatility and the specific physical locations where we transact. We use energy derivatives to manage these risks. The use of energy derivatives in our various businesses depends on the particular energy market and the operating and regulatory environments applicable to the business, as follows: ▪ The California Utilities use natural gas and electricity derivatives, for the benefit of customers, with the objective of managing price risk and basis risks, and stabilizing and lowering natural gas and electricity costs. These derivatives include fixed price natural gas and electricity positions, options, and basis risk instruments, which are either exchange-traded or over-the-counter financial instruments, or bilateral physical transactions. This activity is governed by risk management and transacting activity plans that have been filed with and approved by the CPUC. Natural gas and electricity derivative activities are recorded as commodity costs that are offset by regulatory account balances and are recovered in rates. Net commodity cost impacts on the Consolidated Statements of Operations are reflected in Cost of Electric Fuel and Purchased Power or in Cost of Natural Gas. ▪ SDG&E is allocated and may purchase CRRs, which serve to reduce the regional electricity price volatility risk that may result from local transmission capacity constraints. Unrealized gains and losses do not impact earnings, as they are offset by regulatory account balances. Realized gains and losses associated with CRRs, which are recoverable in rates, are recorded in Cost of Electric Fuel and Purchased Power on the Consolidated Statements of Operations. ▪ Sempra Mexico, Sempra LNG & Midstream and Sempra Renewables may use natural gas and electricity derivatives, as appropriate, to optimize the earnings of their assets which support the following businesses: LNG, natural gas transportation and storage, and power generation. Gains and losses associated with undesignated derivatives are recognized in Energy-Related Businesses Revenues or in Cost of Natural Gas, Electric Fuel and Purchased Power on the Consolidated Statements of Operations. Certain of these derivatives may also be designated as cash flow hedges. Sempra Mexico may also use natural gas energy derivatives with the objective of managing price risk and lowering natural gas prices at its distribution operations. These derivatives, which are recorded as commodity costs that are offset by regulatory account balances and recovered in rates, are recognized in Cost of Natural Gas on the Consolidated Statements of Operations. ▪ From time to time, our various businesses, including the California Utilities, may use other energy derivatives to hedge exposures such as the price of vehicle fuel and GHG allowances. The following table summarizes net energy derivative volumes. NET ENERGY DERIVATIVE VOLUMES (Quantities in millions) December 31, Commodity Unit of measure 2018 2017 Sempra Energy Consolidated: Natural gas MMBtu 35 46 Electricity MWh 2 3 Congestion revenue rights MWh 52 59 SDG&E: Natural gas MMBtu 33 39 Electricity MWh 2 3 Congestion revenue rights MWh 52 59 In addition to the amounts noted above, we frequently use commodity derivatives to manage risks associated with the physical locations of contractual obligations and assets, such as natural gas purchases and sales. INTEREST RATE DERIVATIVES We are exposed to interest rates primarily as a result of our current and expected use of financing. The California Utilities, as well as Sempra Energy and its other subsidiaries and JVs, periodically enter into interest rate derivative agreements intended to moderate our exposure to interest rates and to lower our overall costs of borrowing. We may utilize interest rate swaps, typically designated as fair value hedges, as a means to achieve our targeted level of variable rate debt as a percent of total debt. In addition, we may utilize interest rate swaps, typically designated as cash flow hedges, to lock in interest rates on outstanding debt or in anticipation of future financings. Separately, Otay Mesa VIE has entered into interest rate swap agreements, designated as cash flow hedges, to moderate its exposure to interest rate changes. The following table presents the net notional amounts of our interest rate derivatives, excluding JVs. INTEREST RATE DERIVATIVES (Dollars in millions) December 31, 2018 December 31, 2017 Notional debt Maturities Notional debt Maturities Sempra Energy Consolidated: Cash flow hedges (1)(2) $ 594 2019-2032 $ 861 2018-2032 SDG&E: Cash flow hedge (1)(2) 142 2019 295 2018-2019 (1) Includes Otay Mesa VIE. All of SDG&E’s interest rate derivatives relate to Otay Mesa VIE. (2) In December 2018, OMEC LLC entered into new floating-to-fixed interest rate swaps with notional amounts of $159 million effective April 30, 2019 through October 31, 2019, and $142 million effective October 31, 2019 through October 31, 2023. FOREIGN CURRENCY DERIVATIVES We utilize cross-currency swaps to hedge exposure related to Mexican peso-denominated debt at our Mexican subsidiaries and JVs. These cash flow hedges exchange our Mexican peso-denominated principal and interest payments into the U.S. dollar and swap Mexican variable interest rates for U.S. fixed interest rates. From time to time, Sempra Mexico and its JVs may use other foreign currency derivatives to hedge exposures related to cash flows associated with revenues from contracts denominated in Mexican pesos that are indexed to the U.S. dollar. We are also exposed to exchange rate movements at our Mexican subsidiaries and JVs, which have U.S. dollar-denominated cash balances, receivables, payables and debt (monetary assets and liabilities) that give rise to Mexican currency exchange rate movements for Mexican income tax purposes. They also have deferred income tax assets and liabilities denominated in the Mexican peso, which must be translated to U.S. dollars for financial reporting purposes. In addition, monetary assets and liabilities and certain nonmonetary assets and liabilities are adjusted for Mexican inflation for Mexican income tax purposes. We utilize foreign currency derivatives as a means to manage the risk of exposure to significant fluctuations in our income tax expense and equity earnings from these impacts; however, we generally do not hedge our deferred income tax assets and liabilities or for inflation. In addition, Sempra South American Utilities and its JVs may use foreign currency derivatives to manage foreign currency rate risk. The following table presents the net notional amounts of our foreign currency derivatives, excluding JVs. FOREIGN CURRENCY DERIVATIVES (Dollars in millions) December 31, 2018 December 31, 2017 Notional amount Maturities Notional amount Maturities Sempra Energy Consolidated: Cross-currency swaps $ 306 2019-2023 $ 408 2018-2023 Other foreign currency derivatives 1,158 2019-2020 345 2018-2019 FINANCIAL STATEMENT PRESENTATION The Consolidated Balance Sheets reflect the offsetting of net derivative positions and cash collateral with the same counterparty when a legal right of offset exists. The following tables provide the fair values of derivative instruments on the Consolidated Balance Sheets at December 31, 2018 and 2017 , including the amount of cash collateral receivables that were not offset, as the cash collateral was in excess of liability positions. DERIVATIVE INSTRUMENTS ON THE CONSOLIDATED BALANCE SHEETS (Dollars in millions) December 31, 2018 Current assets: Other (1) Other assets: Sundry Current liabilities: Other Deferred credits and other liabilities: Deferred credits and other Sempra Energy Consolidated: Derivatives designated as hedging instruments: Interest rate and foreign exchange instruments (2) $ 2 $ — $ (3 ) $ (147 ) Derivatives not designated as hedging instruments: Commodity contracts not subject to rate recovery 153 7 (164 ) (6 ) Associated offsetting commodity contracts (133 ) (3 ) 133 3 Commodity contracts subject to rate recovery 64 233 (42 ) (72 ) Associated offsetting commodity contracts (6 ) (2 ) 6 2 Associated offsetting cash collateral — — — 2 Net amounts presented on the balance sheet 80 235 (70 ) (218 ) Additional cash collateral for commodity contracts not subject to rate recovery 19 — — — Additional cash collateral for commodity contracts subject to rate recovery 33 — — — Total (3) $ 132 $ 235 $ (70 ) $ (218 ) SDG&E: Derivatives designated as hedging instruments: Interest rate instruments (2) $ — $ — $ (1 ) $ — Derivatives not designated as hedging instruments: Commodity contracts subject to rate recovery 60 233 (37 ) (72 ) Associated offsetting commodity contracts (6 ) (2 ) 6 2 Associated offsetting cash collateral — — — 2 Net amounts presented on the balance sheet 54 231 (32 ) (68 ) Additional cash collateral for commodity contracts subject to rate recovery 28 — — — Total (3) $ 82 $ 231 $ (32 ) $ (68 ) SoCalGas: Derivatives not designated as hedging instruments: Commodity contracts subject to rate recovery $ 4 $ — $ (5 ) $ — Net amounts presented on the balance sheet 4 — (5 ) — Additional cash collateral for commodity contracts subject to rate recovery 5 — — — Total $ 9 $ — $ (5 ) $ — (1) Included in Current Assets: Fixed-Price Contracts and Other Derivatives for SDG&E. (2) Includes Otay Mesa VIE. All of SDG&E’s amounts relate to Otay Mesa VIE. (3) Normal purchase contracts previously measured at fair value are excluded. DERIVATIVE INSTRUMENTS ON THE CONSOLIDATED BALANCE SHEETS (Dollars in millions) December 31, 2017 Current assets: Other (1) Other assets: Sundry Current liabilities: Other Deferred credits and other liabilities: Deferred credits and other Sempra Energy Consolidated: Derivatives designated as hedging instruments: Interest rate and foreign exchange instruments (2) $ 5 $ 2 $ (51 ) $ (165 ) Derivatives not designated as hedging instruments: Foreign exchange instruments — — (1 ) — Commodity contracts not subject to rate recovery 81 8 (72 ) (6 ) Associated offsetting commodity contracts (67 ) (5 ) 67 5 Commodity contracts subject to rate recovery 28 101 (65 ) (120 ) Associated offsetting commodity contracts — (1 ) — 1 Associated offsetting cash collateral — — 19 4 Net amounts presented on the balance sheet 47 105 (103 ) (281 ) Additional cash collateral for commodity contracts not subject to rate recovery 2 — — — Additional cash collateral for commodity contracts subject to rate recovery 17 — — — Total (3) $ 66 $ 105 $ (103 ) $ (281 ) SDG&E: Derivatives designated as hedging instruments: Interest rate instruments (2) $ — $ — $ (10 ) $ (3 ) Derivatives not designated as hedging instruments: Commodity contracts subject to rate recovery 26 101 (63 ) (120 ) Associated offsetting commodity contracts — (1 ) — 1 Associated offsetting cash collateral — — 19 4 Net amounts presented on the balance sheet 26 100 (54 ) (118 ) Additional cash collateral for commodity contracts subject to rate recovery 16 — — — Total (3) $ 42 $ 100 $ (54 ) $ (118 ) SoCalGas: Derivatives not designated as hedging instruments: Commodity contracts subject to rate recovery $ 2 $ — $ (2 ) $ — Net amounts presented on the balance sheet 2 — (2 ) — Additional cash collateral for commodity contracts subject to rate recovery 1 — — — Total $ 3 $ — $ (2 ) $ — (1) Included in Current Assets: Fixed-Price Contracts and Other Derivatives for SDG&E. (2) Includes Otay Mesa VIE. All of SDG&E’s amounts relate to Otay Mesa VIE. (3) Normal purchase contracts previously measured at fair value are excluded. The table below presents the effects of derivative instruments designated as fair value hedges on the Consolidated Statement of Operations. There were no fair value hedges outstanding for the years ended December 31, 2018 or 2017. FAIR VALUE HEDGE IMPACTS (Dollars in millions) Pretax gain (loss) on derivatives recognized in earnings Location Year ended December 31, 2016 Sempra Energy Consolidated: Interest rate instruments Interest Expense $ 3 Interest rate instruments Other Income, Net (2 ) Total $ 1 The table below includes the effects of derivative instruments designated as cash flow hedges on the Consolidated Statements of Operations and in OCI and AOCI. CASH FLOW HEDGE IMPACTS (Dollars in millions) Pretax gain (loss) recognized in OCI Pretax gain (loss) reclassified from AOCI into earnings Years ended December 31, Years ended December 31, 2018 2017 2016 Location 2018 2017 2016 Sempra Energy Consolidated: Interest rate and foreign exchange instruments (1) $ 31 $ 19 $ (8 ) Interest Expense $ — $ 4 $ (17 ) Other Income, Net 2 — — Interest rate instruments — — — Gain on Sale of Assets (9 ) — — Interest rate and foreign exchange instruments 41 (34 ) (4 ) Equity Earnings (7 ) (20 ) (15 ) Interest rate and foreign exchange instruments — — — Remeasurement of Equity Method Investment — — (7 ) Foreign exchange instruments (4 ) 4 4 Revenues: Energy- Related Businesses 1 2 — Commodity contracts not subject to rate recovery — 3 (13 ) Revenues: Energy- Related Businesses — (9 ) 6 Total $ 68 $ (8 ) $ (21 ) $ (13 ) $ (23 ) $ (33 ) SDG&E: Interest rate instruments (1) $ 1 $ (2 ) $ (2 ) Interest Expense $ (7 ) $ (13 ) $ (12 ) SoCalGas: Interest rate instruments $ — $ — $ — Interest Expense $ (1 ) $ — $ (1 ) (1) Amounts include Otay Mesa VIE. All of SDG&E’s interest rate derivative activity relates to Otay Mesa VIE. For Sempra Energy Consolidated, we expect that net gains of $22 million , which are net of income tax expense, that are currently recorded in AOCI (including $2 million of losses in NCI related to Otay Mesa VIE at SDG&E) related to cash flow hedges will be reclassified into earnings during the next 12 months as the hedged items affect earnings. SoCalGas expects that $1 million of losses, net of income tax benefit, that are currently recorded in AOCI related to cash flow hedges will be reclassified into earnings during the next 12 months as the hedged items affect earnings. Actual amounts ultimately reclassified into earnings depend on the interest rates in effect when derivative contracts mature. For all forecasted transactions, the maximum remaining term over which we are hedging exposure to the variability of cash flows at December 31, 2018 is approximately 13 years and less than 1 year for Sempra Energy Consolidated and SDG&E, respectively. The maximum remaining term for which we are hedging exposure to the variability of cash flows at our equity method investees is 15 years . The following table summarizes the effects of derivative instruments not designated as hedging instruments on the Consolidated Statements of Operations. UNDESIGNATED DERIVATIVE IMPACTS (Dollars in millions) Pretax gain (loss) on derivatives recognized in earnings Years ended December 31, Location 2018 2017 2016 Sempra Energy Consolidated: Foreign exchange instruments Other Income, Net $ 3 $ 49 $ (32 ) Foreign exchange instruments Equity Earnings — 1 3 Commodity contracts not subject to rate recovery Revenues: Energy-Related Businesses 26 16 (18 ) Commodity contracts not subject to rate recovery Operation and Maintenance — — 1 Commodity contracts subject to rate recovery Cost of Electric Fuel and Purchased Power 279 54 (53 ) Commodity contracts subject to rate recovery Cost of Natural Gas 5 (2 ) (4 ) Total $ 313 $ 118 $ (103 ) SDG&E: Commodity contracts subject to rate recovery Cost of Electric Fuel and Purchased Power $ 279 $ 54 $ (53 ) SoCalGas: Commodity contracts not subject to rate recovery Operation and Maintenance $ — $ — $ 1 Commodity contracts subject to rate recovery Cost of Natural Gas 5 (2 ) (4 ) Total $ 5 $ (2 ) $ (3 ) CONTINGENT FEATURES For Sempra Energy Consolidated, SDG&E and SoCalGas, certain of our derivative instruments contain credit limits which vary depending on our credit ratings. Generally, these provisions, if applicable, may reduce our credit limit if a specified credit rating agency reduces our ratings. In certain cases, if our credit ratings were to fall below investment grade, the counterparty to these derivative liability instruments could request immediate payment or demand immediate and ongoing full collateralization. For Sempra Energy Consolidated, the total fair value of this group of derivative instruments in a net liability position at December 31, 2018 and 2017 was $16 million and $6 million , respectively. At December 31, 2018 , if the credit ratings of Sempra Energy were reduced below investment grade, $20 million of additional assets could be required to be posted as collateral for these derivative contracts. For SDG&E, the total fair value of this group of derivative instruments in a net liability position at December 31, 2017 was $1 million . For SoCalGas, the total fair value of this group of derivative instruments in a net liability position at December 31, 2018 was $5 million . At December 31, 2018 , if the credit ratings of SoCalGas were reduced below investment grade, $5 million of additional assets could be required to be posted as collateral for these derivative contracts. |
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS | 12 Months Ended |
Dec. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | FAIR VALUE MEASUREMENTS RECURRING FAIR VALUE MEASURES The three tables below, by level within the fair value hierarchy, set forth our financial assets and liabilities that were accounted for at fair value on a recurring basis at December 31, 2018 and 2017 . We classify financial assets and liabilities in their entirety based on the lowest level of input that is significant to the fair value measurement. Our assessment of the significance of a particular input to the fair value measurement requires judgment, and may affect the valuation of fair value assets and liabilities, and their placement within the fair value hierarchy. The fair value of commodity derivative assets and liabilities is presented in accordance with our netting policy, as we discuss in Note 11 in “Financial Statement Presentation.” The determination of fair values, shown in the tables below, incorporates various factors, including but not limited to, the credit standing of the counterparties involved and the impact of credit enhancements (such as cash deposits, letters of credit and priority interests). Our financial assets and liabilities that were accounted for at fair value on a recurring basis in the tables below include the following (other than a $10 million investment at December 31, 2018 measured at NAV): ▪ Nuclear decommissioning trusts reflect the assets of SDG&E’s NDT, excluding cash balances. A third party trustee values the trust assets using prices from a pricing service based on a market approach. We validate these prices by comparison to prices from other independent data sources. Securities are valued using quoted prices listed on nationally recognized securities exchanges or based on closing prices reported in the active market in which the identical security is traded (Level 1). Other securities are valued based on yields that are currently available for comparable securities of issuers with similar credit ratings (Level 2). ▪ For commodity contracts, interest rate derivatives and foreign exchange instruments, we primarily use a market approach with market participant assumptions to value these derivatives. Market participant assumptions include those about risk, and the risk inherent in the inputs to the valuation techniques. These inputs can be readily observable, market corroborated, or generally unobservable. We have exchange-traded derivatives that are valued based on quoted prices in active markets for the identical instruments (Level 1). We also may have other commodity derivatives that are valued using industry standard models that consider quoted forward prices for commodities, time value, current market and contractual prices for the underlying instruments, volatility factors, and other relevant economic measures (Level 2). Level 3 recurring items relate to CRRs and long-term, fixed-price electricity positions at SDG&E, as we discuss below in “Level 3 Information.” ▪ Rabbi Trust investments include marketable securities that we value using a market approach based on closing prices reported in the active market in which the identical security is traded (Level 1). These investments in marketable securities were negligible at both December 31, 2018 and 2017 . RECURRING FAIR VALUE MEASURES – SEMPRA ENERGY CONSOLIDATED (Dollars in millions) Fair value at December 31, 2018 Level 1 Level 2 Level 3 Total Assets: Nuclear decommissioning trusts: Equity securities $ 407 $ 4 $ — $ 411 Debt securities: Debt securities issued by the U.S. Treasury and other U.S. government corporations and agencies 43 10 — 53 Municipal bonds — 269 — 269 Other securities — 234 — 234 Total debt securities 43 513 — 556 Total nuclear decommissioning trusts (1) 450 517 — 967 Interest rate and foreign exchange instruments — 2 — 2 Commodity contracts not subject to rate recovery — 24 — 24 Effect of netting and allocation of collateral (2) 19 — — 19 Commodity contracts subject to rate recovery 2 9 278 289 Effect of netting and allocation of collateral (2) 28 — 5 33 Total $ 499 $ 552 $ 283 $ 1,334 Liabilities: Interest rate and foreign exchange instruments $ — $ 150 $ — $ 150 Commodity contracts not subject to rate recovery — 34 — 34 Commodity contracts subject to rate recovery 2 5 99 106 Effect of netting and allocation of collateral (2) (2 ) — — (2 ) Total $ — $ 189 $ 99 $ 288 Fair value at December 31, 2017 Level 1 Level 2 Level 3 Total Assets: Nuclear decommissioning trusts: Equity securities $ 491 $ 5 $ — $ 496 Debt securities: Debt securities issued by the U.S. Treasury and other U.S. government corporations and agencies 45 9 — 54 Municipal bonds — 250 — 250 Other securities — 217 — 217 Total debt securities 45 476 — 521 Total nuclear decommissioning trusts (1) 536 481 — 1,017 Interest rate and foreign exchange instruments — 7 — 7 Commodity contracts not subject to rate recovery 5 12 — 17 Effect of netting and allocation of collateral (2) 2 — — 2 Commodity contracts subject to rate recovery — 2 126 128 Effect of netting and allocation of collateral (2) 12 — 5 17 Total $ 555 $ 502 $ 131 $ 1,188 Liabilities: Interest rate and foreign exchange instruments $ — $ 217 $ — $ 217 Commodity contracts not subject to rate recovery — 6 — 6 Commodity contracts subject to rate recovery 23 7 154 184 Effect of netting and allocation of collateral (2) (23 ) — — (23 ) Total $ — $ 230 $ 154 $ 384 (1) Excludes cash balances and cash equivalents. (2) Includes the effect of the contractual ability to settle contracts under master netting agreements and with cash collateral, as well as cash collateral not offset. RECURRING FAIR VALUE MEASURES – SDG&E (Dollars in millions) Fair value at December 31, 2018 Level 1 Level 2 Level 3 Total Assets: Nuclear decommissioning trusts: Equity securities $ 407 $ 4 $ — $ 411 Debt securities: Debt securities issued by the U.S. Treasury and other U.S. government corporations and agencies 43 10 — 53 Municipal bonds — 269 — 269 Other securities — 234 — 234 Total debt securities 43 513 — 556 Total nuclear decommissioning trusts (1) 450 517 — 967 Commodity contracts subject to rate recovery 1 6 278 285 Effect of netting and allocation of collateral (2) 23 — 5 28 Total $ 474 $ 523 $ 283 $ 1,280 Liabilities: Interest rate instruments $ — $ 1 $ — $ 1 Commodity contracts subject to rate recovery 2 — 99 101 Effect of netting and allocation of collateral (2) (2 ) — — (2 ) Total $ — $ 1 $ 99 $ 100 Fair value at December 31, 2017 Level 1 Level 2 Level 3 Total Assets: Nuclear decommissioning trusts: Equity securities $ 491 $ 5 $ — $ 496 Debt securities: Debt securities issued by the U.S. Treasury and other U.S. government corporations and agencies 45 9 — 54 Municipal bonds — 250 — 250 Other securities — 217 — 217 Total debt securities 45 476 — 521 Total nuclear decommissioning trusts (1) 536 481 — 1,017 Commodity contracts subject to rate recovery — — 126 126 Effect of netting and allocation of collateral (2) 11 — 5 16 Total $ 547 $ 481 $ 131 $ 1,159 Liabilities: Interest rate instruments $ — $ 13 $ — $ 13 Commodity contracts subject to rate recovery 23 5 154 182 Effect of netting and allocation of collateral (2) (23 ) — — (23 ) Total $ — $ 18 $ 154 $ 172 (1) Excludes cash balances and cash equivalents. (2) Includes the effect of the contractual ability to settle contracts under master netting agreements and with cash collateral, as well as cash collateral not offset. RECURRING FAIR VALUE MEASURES – SOCALGAS (Dollars in millions) Fair value at December 31, 2018 Level 1 Level 2 Level 3 Total Assets: Commodity contracts subject to rate recovery $ 1 $ 3 $ — $ 4 Effect of netting and allocation of collateral (1) 5 — — 5 Total $ 6 $ 3 $ — $ 9 Liabilities: Commodity contracts subject to rate recovery $ — $ 5 $ — $ 5 Total $ — $ 5 $ — $ 5 Fair value at December 31, 2017 Level 1 Level 2 Level 3 Total Assets: Commodity contracts subject to rate recovery $ — $ 2 $ — $ 2 Effect of netting and allocation of collateral (1) 1 — — 1 Total $ 1 $ 2 $ — $ 3 Liabilities: Commodity contracts subject to rate recovery $ — $ 2 $ — $ 2 Total $ — $ 2 $ — $ 2 (1 ) Includes the effect of the contractual ability to settle contracts under master netting agreements and with cash collateral, as well as cash collateral not offset. Level 3 Information The following table sets forth reconciliations of changes in the fair value of CRRs and long-term, fixed-price electricity positions classified as Level 3 in the fair value hierarchy for Sempra Energy Consolidated and SDG&E: LEVEL 3 RECONCILIATIONS (1) (Dollars in millions) Years ended December 31, 2018 2017 2016 Balance at January 1 $ (28 ) $ (74 ) $ 19 Realized and unrealized gains (losses) 209 34 (120 ) Allocated transmission instruments 10 6 8 Settlements (12 ) 6 19 Balance at December 31 $ 179 $ (28 ) $ (74 ) Change in unrealized gains (losses) relating to instruments still held at December 31 $ 183 $ 30 $ (101 ) (1) Excludes the effect of the contractual ability to settle contracts under master netting agreements. Inputs used to determine the fair value of CRRs and fixed-price electricity positions are reviewed and compared with market conditions to determine reasonableness. SDG&E expects all costs related to these instruments to be recoverable through customer rates. As such, there is no impact to earnings from changes in the fair value of these instruments. CRRs are recorded at fair value based almost entirely on the most current auction prices published by the California ISO, an objective source. Annual auction prices are published once a year, typically in the middle of November, and are the basis for valuing CRRs settling in the following year. For the CRRs settling from January 1 to December 31, the auction price inputs, at a given location, were in the following ranges for the years indicated below: CONGESTION REVENUE RIGHTS AUCTION PRICE INPUTS Settlement year Price per MWh Median price per MWh 2019 $ (8.57 ) to $ 35.21 $ (2.94 ) 2018 (7.25 ) to 11.99 0.09 2017 (11.88 ) to 6.93 (0.14 ) The impact associated with discounting is negligible. Because these auction prices are a less observable input, these instruments are classified as Level 3. The fair value of these instruments is derived from auction price differences between two locations. Positive values between two locations represent expected future reductions in congestion costs, whereas negative values between two locations represent expected future charges. Valuation of our CRRs is sensitive to a change in auction price. If auction prices at one location increase (decrease) relative to another location, this could result in a higher (lower) fair value measurement. We summarize CRR volumes in Note 11 . Long-term, fixed-price electricity positions that are valued using significant unobservable data are classified as Level 3 because the contract terms relate to a delivery location or tenor for which observable market rate information is not available. The fair value of the net electricity positions classified as Level 3 is derived from a discounted cash flow model using market electricity forward price inputs. The range and weighted-average price of these inputs was as follows: LONG-TERM, FIXED-PRICE ELECTRICITY POSITIONS PRICE INPUTS Settlement year Price per MWh Weighted-average price per MWh 2018 $ 22.20 to $ 76.85 $ 42.69 2017 22.55 to 44.10 35.23 A significant increase or decrease in market electricity forward prices would result in a significantly higher or lower fair value, respectively. We summarize long-term, fixed-price electricity position volumes in Note 11 . Realized gains and losses associated with CRRs and long-term electricity positions, which are recoverable in rates, are recorded in Cost of Electric Fuel and Purchased Power on the Consolidated Statements of Operations. Unrealized gains and losses are recorded as regulatory assets and liabilities, and therefore do not affect earnings. Fair Value of Financial Instruments The fair values of certain of our financial instruments (cash, accounts and notes receivable, short-term amounts due to/from unconsolidated affiliates, dividends and accounts payable, short-term debt and customer deposits) approximate their carrying amounts because of the short-term nature of these instruments. Investments in life insurance contracts that we hold in support of our Supplemental Executive Retirement, Cash Balance Restoration and Deferred Compensation Plans are carried at cash surrender values, which represent the amount of cash that could be realized under the contracts. The following table provides the carrying amounts and fair values of certain other financial instruments that are not recorded at fair value on the Consolidated Balance Sheets at December 31, 2018 and 2017 : FAIR VALUE OF FINANCIAL INSTRUMENTS (Dollars in millions) December 31, 2018 Carrying Fair value amount Level 1 Level 2 Level 3 Total Sempra Energy Consolidated: Long-term amounts due from unconsolidated affiliates $ 688 $ — $ 648 $ 47 $ 695 Long-term amounts due to unconsolidated affiliates 37 — 35 — 35 Total long-term debt (1)(2) 22,067 — 21,274 351 21,625 SDG&E: Total long-term debt (2)(3) $ 4,996 $ — $ 4,897 $ 220 $ 5,117 SoCalGas: Total long-term debt (4) $ 3,459 $ — $ 3,505 $ — $ 3,505 December 31, 2017 Carrying Fair value amount Level 1 Level 2 Level 3 Total Sempra Energy Consolidated: Long-term amounts due from unconsolidated affiliates $ 598 $ — $ 510 $ 108 $ 618 Long-term amounts due to unconsolidated affiliates 35 — 32 — 32 Total long-term debt (1)(2) 17,138 817 17,134 458 18,409 SDG&E: Total long-term debt (2)(3) $ 4,868 $ — $ 5,073 $ 295 $ 5,368 SoCalGas: Total long-term debt (4) $ 3,009 $ — $ 3,192 $ — $ 3,192 (1) Before reductions for unamortized discount (net of premium) and debt issuance costs of $202 million and $143 million at December 31, 2018 and 2017 , respectively, and excluding build-to-suit and capital lease obligations of $1,419 million and $877 million at December 31, 2018 and 2017 , respectively. We discuss our long-term debt in Note 7 . (2) Level 3 instruments include $220 million and $295 million at December 31, 2018 and 2017 , respectively, related to Otay Mesa VIE. (3) Before reductions for unamortized discount and debt issuance costs of $49 million and $45 million at December 31, 2018 and 2017 , respectively, and excluding capital lease obligations of $1,272 million and $732 million at December 31, 2018 and 2017 , respectively. (4) Before reductions for unamortized discount and debt issuance costs of $32 million and $24 million at December 31, 2018 and 2017 , respectively, and excluding capital lease obligations of $3 million and $1 million at December 31, 2018 and 2017, respectively. We provide the fair values for the securities held in the NDT funds related to SONGS in Note 15 . NON-RECURRING FAIR VALUE MEASURES Sempra Mexico TdM In February 2016, management approved a plan to market and sell Sempra Mexico’s TdM natural gas-fired power plant, and classified it as held for sale on the Sempra Energy Consolidated Balance Sheet. In September 2016, we received market information that indicated that the fair value of TdM may be less than its carrying value. As a result, after performing an analysis of the information, Sempra Mexico reduced the carrying value of TdM by recognizing a noncash impairment charge of $131 million ( $111 million after tax) in the third quarter of 2016. In 2017, Sempra Mexico received a purchase price offer resulting from negotiations with an active market participant. This new market information indicated that the fair value of TdM was lower than its carrying value at June 30, 2017. As a result, in the second quarter of 2017, Sempra Mexico further reduced the carrying value of TdM by recognizing a noncash impairment charge of $71 million . Impairments recorded for TdM are included in Impairment Losses on Sempra Energy’s Consolidated Statements of Operations. Market values resulting from a third-party bidding process and a purchase price offer are considered to be Level 2 inputs in the fair value hierarchy, as they represent observable pricing inputs. TdM was reclassified to held and used in June 2018 when management terminated the sales process. IEnova Pipelines In September 2016, IEnova completed the acquisition of PEMEX’s 50 -percent interest in IEnova Pipelines, increasing its ownership interest to 100 percent . As a result of IEnova obtaining control over IEnova Pipelines, in the year ended December 31, 2016, Sempra Mexico recognized a pretax gain of $617 million ( $432 million after tax) for the excess of the acquisition-date fair value of its previously held equity interest in IEnova Pipelines ( $1.144 billion ) over the carrying value of that interest ( $520 million ) and losses reclassified from AOCI ( $7 million ), included as Remeasurement of Equity Method Investment on Sempra Energy’s Consolidated Statement of Operations. The valuation technique used to measure the acquisition-date fair value of our equity interest in IEnova Pipelines immediately prior to the business acquisition was based on the fair value of the entire business combination ( $2.288 billion ) less the fair value of the consideration paid ( $1.144 billion , the equity sale price). We discuss the IEnova Pipelines acquisition in Note 5 . Sempra Renewables U.S. Wind Investments As we discuss in Notes 5 and 6 , on June 25, 2018, our board of directors approved a plan to sell all our wind and solar equity method investments at Sempra Renewables. Because of our expectation of a shorter holding period as a result of this plan of sale, we evaluated the recoverability of the carrying amounts of each of these investments and concluded there is an other-than-temporary impairment on certain of our wind equity method investments totaling $200 million ( $145 million after tax), which we recorded in Equity Earnings on Sempra Energy’s Consolidated Statement of Operations for the year ended December 31, 2018. We measured the estimated fair value of $145 million at June 25, 2018 using a discounted cash flow model including significant unobservable inputs, adjusted for our applicable ownership percentages, which is a Level 3 measurement in the fair value hierarchy. The key inputs to the methodology were contracted and merchant pricing, and the discount rate. Sempra LNG & Midstream Non-Utility Natural Gas Storage Assets As we discuss in Note 5 , on June 25, 2018, our board of directors approved a plan to sell Mississippi Hub, our 90.9 -percent ownership interest in Bay Gas and other non-utility assets (the non-utility natural gas storage assets). We also own a 75.4 -percent interest in LA Storage, a salt cavern development project in Cameron Parish, Louisiana. The LA Storage project also includes an existing 23.3-mile pipeline header system that is not currently contracted. Because of the plan of sale, we considered a market participant’s view of the total value of the non-utility natural gas storage assets and determined that their fair value, less costs to sell, may be less than their carrying value. Additionally, our inability to secure customer contracts that would support further investment in LA Storage led us to assess and conclude that the full carrying value of these other U.S. midstream assets may not be recoverable. As a result, on June 25, 2018, we recorded an impairment of $1.3 billion ( $755 million after tax and NCI) in Impairment Losses on Sempra Energy’s Consolidated Statement of Operations. We measured the estimated fair value of $190 million at June 25, 2018 using a discounted cash flow approach. This approach included unobservable inputs, resulting in a Level 3 measurement in the fair value hierarchy. We considered a market participant’s view of the values of the non-utility natural gas storage assets based on an estimation of future net cash flows. To estimate future net cash flows, we considered the non-utility natural gas storage assets’ prospects for generating revenues and cash flows beyond their existing contracted capacity and tenors, including natural gas price volatility and seasonality factors, as well as discount rates commensurate with the risks inherent in the cash flows. On January 1, 2019, Sempra LNG & Midstream entered into an agreement to sell Mississippi Hub and Bay Gas to an affiliate of ArcLight Capital Partners for $332 million , subject to working capital adjustments and $20 million representing Sempra LNG & Midstream’s purchase of the 9.1 -percent minority interest in Bay Gas immediately prior to and included as part of the sale. On February 7, 2019, Sempra LNG & Midstream completed this sale. Additionally, in December 2018, Sempra LNG & Midstream entered into an agreement to sell other non-utility assets for $5 million ; such sale was completed in January 2019. We considered the assets’ sales prices negotiated with active market participants to be a relevant and material data input. Accordingly, we updated our fair value analysis to reflect the Level 2 market participant input as the primary indicator of fair value. As a result, on December 31, 2018, we reduced the impairment of $1.3 billion recorded on June 25, 2018 by $183 million ( $126 million after tax and NCI), resulting in a total impairment of $1.1 billion ( $629 million after tax and NCI) for the year ended December 31, 2018, based on a fair value of $337 million for these non-utility natural gas storage assets. Rockies Express In March 2016, Sempra LNG & Midstream agreed to sell its 25 -percent interest in Rockies Express for cash consideration of $440 million , subject to adjustment at closing. In March 2016, we recorded a noncash impairment of our investment in Rockies Express of $44 million ( $27 million after tax). The charge is included in Equity Earnings on the Sempra Energy Consolidated Statement of Operations for the year ended December 31, 2016. We considered the sale price for our equity interest in Rockies Express to be a market participants’ view of the total value of Rockies Express and measured the fair value of our investment based on the equity sale price. The sale was completed in May 2016. The table below summarizes significant inputs impacting our non-recurring fair value measures. Additional discussions about the related transactions are provided in Note 5 , and as applicable, in Note 6 . NON-RECURRING FAIR VALUE MEASURES – SEMPRA ENERGY CONSOLIDATED Measurement date Estimated fair value (in millions) Valuation technique Fair value hierarchy % of fair value measurement Inputs used to Range of Non-utility natural gas storage assets December 31, 2018 $ 337 (1) Market approach Level 2 100% Assets’ sales prices 100% Non-utility natural gas storage assets June 25, 2018 $ 190 (1)(2) Discounted cash flows Level 3 100% Storage rates $0.06 - $0.22 ($0.10) (3) Discount rate 10% (4) Certain of our U.S. wind equity method investments June 25, 2018 $ 145 (5) Discounted cash flows Level 3 100% Contracted and observable merchant prices per MWh $29 - $92 (3) Discount rate 8% - 10% (8.7%) (4) TdM June 30, 2017 $ 62 Market approach Level 2 100% Purchase price offer 100% TdM September 29, 2016 $ 145 Market approach Level 2 100% Purchase price offers 100% Investment in IEnova Pipelines September 26, 2016 $ 1,144 (6) Market approach Level 2 100% Equity sale price 100% Investment in March 29, 2016 $ 440 Market approach Level 2 100% Equity sale price 100% (1) Includes Mississippi Hub, Bay Gas and other non-utility assets, which are classified as held for sale at December 31, 2018 with a net carrying value of $323 million , reflecting estimated costs to sell. (2) Includes LA Storage, which continues to be classified as PP&E. (3) Generally, significant increases (decreases) in this input in isolation would result in a significantly higher (lower) fair value measurement. (4) An increase in the discount rate would result in a decrease in fair value. (5) At December 31, 2018 , these U.S. wind equity method investments had a carrying value of $139 million , reflecting subsequent business activity. (6) Immediately prior to acquiring a 100 |
PREFERRED STOCK
PREFERRED STOCK | 12 Months Ended |
Dec. 31, 2018 | |
Equity [Abstract] | |
Preferred Stock | PREFERRED STOCK Sempra Energy and SDG&E are authorized to issue up to 50 million and 45 million shares of preferred stock, respectively. At December 31, 2018 and 2017 , SDG&E had no preferred stock outstanding. The rights, preferences, privileges and restrictions for any new series of preferred stock would be established by each company’s board of directors at the time of issuance. SEMPRA ENERGY MANDATORY CONVERTIBLE PREFERRED STOCK On January 9, 2018, we issued 17,250,000 shares of our 6% mandatory convertible preferred stock, series A (series A preferred stock) in a registered public offering at $100.00 per share (or $98.20 per share after deducting underwriting discounts), including 2,250,000 shares purchased by the underwriters from us as a result of fully exercising their option to purchase such shares from us solely to cover overallotments. Each share of series A preferred stock has a liquidation value of $100.00 . We used the net proceeds of approximately $1.69 billion (net of underwriting discounts and equity issuance costs of $32 million ) to fund a portion of the Merger Consideration, as we discuss in Note 5 . On July 13, 2018, we issued 5,750,000 shares of our 6.75% mandatory convertible preferred stock, series B (series B preferred stock) in a registered public offering at $100.00 per share (or $98.35 per share after deducting underwriting discounts), including 750,000 shares purchased by the underwriters from us as a result of fully exercising their option to purchase such shares from us solely to cover overallotments. Each share of series B preferred stock has a liquidation value of $100.00 . We used the net proceeds of approximately $565 million (net of underwriting discounts and equity issuance costs of $10 million ) to repay commercial paper, to fund working capital and for other general corporate purposes. Mandatory Conversion Unless earlier converted, each share of the series A preferred stock and series B preferred stock will automatically convert on the mandatory conversion date of January 15, 2021 and July 15, 2021, respectively. The number of shares of our common stock issuable on conversion of each series of preferred stock will be determined based on the volume-weighted average market value per share of our common stock over the 20-consecutive trading day period beginning on and including the 21st scheduled trading day immediately preceding January 15, 2021 for the series A preferred stock and July 15, 2021 for the series B preferred stock. The following table illustrates the conversion rate per share of each series of preferred stock, subject to certain anti-dilution adjustments. CONVERSION RATES Applicable market value per share of Conversion rate (number of shares of our common stock to be received upon conversion of each share of mandatory convertible preferred stock) Series A preferred stock Greater than $131.075 (which is the threshold appreciation price) 0.7629 shares (approximately equal to $100.00 divided by the threshold appreciation price) Equal to or less than $131.075 but greater than or equal to $107.00 Between 0.7629 and 0.9345 shares, determined by dividing $100.00 by the applicable market value of our common stock Less than $107.00 (which is the initial price) 0.9345 shares (approximately equal to $100.00 divided by the initial price) Series B preferred stock Greater than $136.50 (which is the threshold appreciation price) 0.7326 shares (approximately equal to $100.00 divided by the threshold appreciation price) Equal to or less than $136.50 but greater than or equal to $113.75 Between 0.7326 and 0.8791 shares, determined by dividing $100.00 by the applicable market value of our common stock Less than $113.75 (which is the initial price) 0.8791 shares (approximately equal to $100.00 divided by the initial price) Conversion at the Option of the Holder Generally, and subject to the terms of the respective series of preferred stock, at any time prior to January 15, 2021 for the series A preferred stock and July 15, 2021 for the series B preferred stock, holders may elect to convert each share of their preferred stock into shares of our common stock at the minimum conversion rate, which could result in an aggregate of approximately 13.2 million common shares with respect to conversion of series A preferred stock and 4.2 million common shares with respect to conversion of series B preferred stock, if all outstanding preferred stock under each series were converted early, subject to anti-dilution adjustments. Further, if holders elect to convert any shares of either series of preferred stock during a specified period beginning on the effective date of a fundamental change, as defined in the certificate of determination of preferences of the respective series of preferred stock, such shares of preferred stock will be converted into shares of our common stock at a fundamental change conversion rate, and the holders will also be entitled to receive a fundamental change dividend make-whole amount and accumulated dividend amount. Dividends Dividends on each series of preferred stock are payable quarterly on a cumulative basis when, as and if declared by our board of directors. The first quarterly dividend for the series A preferred stock and series B preferred stock was paid on April 15, 2018 and October 15, 2018, respectively. We may pay quarterly declared dividends in cash or, subject to certain limitations, in shares of our common stock, no par value, or in any combination of cash and shares of our common stock. Shares of common stock used to pay dividends will be valued at 97 percent of the volume-weighted average price per share over the five-consecutive trading day period beginning on, and including the sixth trading day prior to, the applicable dividend payment date. The holders of each series of preferred stock do not have voting rights with respect to their preferred stock. However, under certain circumstances including nonpayment of dividends for six or more dividend periods, whether or not consecutive, the authorized number of directors on our board of directors will automatically be increased by two and the holders of each series of preferred stock, voting together as a single class with holders of any and all other outstanding preferred stock of equal rank having similar voting rights, will be entitled to elect two directors to fill such newly created directorships. This right shall terminate when all accumulated dividends have been paid in full and the authorized number of directors shall automatically decrease by two, subject to the revesting of that right in the event of each subsequent nonpayment. Ranking Each series of preferred stock will rank with respect to dividend rights and distribution rights upon our liquidation, winding-up or dissolution: ▪ senior to our common stock, including our capital stock established in the future, unless the terms of such capital stock expressly provide otherwise; ▪ on parity with each series of preferred stock, including our capital stock established in the future, unless the terms of such capital stock expressly provide otherwise; ▪ junior to our capital stock established in the future, if the terms provide that such class of series of new capital stock will rank senior to the series A preferred stock and series B preferred stock; ▪ junior to our existing and future indebtedness and other liabilities; and ▪ structurally subordinated to any existing and future indebtedness and other liabilities of our subsidiaries and capital stock of our subsidiaries held by third parties. SOCALGAS PREFERRED STOCK SoCalGas is authorized to issue up to an aggregate of 11 million shares of preferred stock, series preferred stock and preference stock. The table below presents preferred stock outstanding at SoCalGas: PREFERRED STOCK OUTSTANDING (Dollars in millions, except per share amounts) December 31, 2018 2017 $25 par value, authorized 1,000,000 shares: 6% Series, 79,011 shares outstanding $ 3 $ 3 6% Series A, 783,032 shares outstanding 19 19 SoCalGas - Total preferred stock 22 22 Less: 50,970 shares of the 6% Series outstanding owned by Pacific Enterprises (2 ) (2 ) Sempra Energy - Total preferred stock of subsidiary $ 20 $ 20 None of SoCalGas’ outstanding preferred stock is callable, and no shares are subject to mandatory redemption. All outstanding shares have one vote per share, cumulative preferences as to dividends and liquidation preferences of $25 per share plus any unpaid dividends. In addition to the outstanding preferred stock above, SoCalGas’ articles of incorporation authorize 5 million shares of series preferred stock and 5 million |
SEMPRA ENERGY - SHAREHOLDERS' E
SEMPRA ENERGY - SHAREHOLDERS' EQUITY AND EARNINGS PER SHARE | 12 Months Ended |
Dec. 31, 2018 | |
Earnings Per Share [Abstract] | |
SEMPRA ENERGY - SHAREHOLDERS' EQUITY AND EARNINGS PER SHARE | SEMPRA ENERGY – SHAREHOLDERS’ EQUITY AND EARNINGS PER COMMMON SHARE SEMPRA ENERGY COMMON STOCK OFFERINGS On January 9, 2018, we completed the offering of 23,364,486 shares of our common stock, no par value, in a registered public offering at $107.00 per share (approximately $105.07 per share after deducting underwriting discounts), pursuant to forward sale agreements with each of Morgan Stanley & Co. LLC, an affiliate of RBC Capital Markets, LLC and an affiliate of Barclays Capital Inc. (the January 2018 forward purchasers). The shares offered pursuant to the forward sale agreements were borrowed by the underwriters and therefore are not newly issued shares. The underwriters of the offering fully exercised the option we granted them to purchase an additional 3,504,672 shares of common stock directly from us solely to cover overallotments. After the offering, including the issuance of shares pursuant to the exercise of the overallotment option, the aggregate shares of common stock sold in the offering totaled 26,869,158 . We received net proceeds of $367 million (net of underwriting discounts and equity issuance costs of $8 million ) from the sale of shares to cover overallotments. We did not initially receive any proceeds from the sale of our common stock sold pursuant to the forward sale agreements. In the first quarter of 2018, we settled approximately $900 million (net of underwriting discounts of $16 million ) and in the second quarter of 2018, we settled approximately $800 million (net of underwriting discounts of $14 million ) of forward sales under the forward sale agreements by delivering 8,556,630 shares and 7,651,671 shares, respectively, of newly issued Sempra Energy common stock at forward sale prices ranging from approximately $104.53 to approximately $105.18 per share. We used the net proceeds from the sale of shares in the January 2018 offering and from the settlement of forward sales in the first quarter of 2018 under the forward sale agreements to fund a portion of the Merger Consideration, as we discuss in Note 5 . We used the net proceeds from the settlement of forward sales in the second quarter of 2018 to repay long-term debt maturing in June 2018 and to repay commercial paper used to fund a portion of the Merger Consideration. On July 13, 2018, we completed the offering of 9,750,000 shares of our common stock, no par value, in a registered public offering at $113.75 per share (approximately $111.87 per share after deducting underwriting discounts), pursuant to forward sale agreements with an affiliate of Citigroup Global Markets Inc. and an affiliate of J.P. Morgan Securities LLC (the July 2018 forward purchasers, together with the January 2018 forward purchasers, the forward purchasers). The shares offered pursuant to the forward sale agreements were borrowed by the underwriters and therefore are not newly issued shares. The underwriters of the offering fully exercised the option we granted them to purchase an additional 1,462,500 shares of common stock directly from us solely to cover overallotments. After the offering, including the issuance of shares pursuant to the exercise of the overallotment option, the aggregate shares of common stock sold in the offering totaled 11,212,500 . We received net proceeds of $164 million (net of underwriting discounts and equity issuance costs of $3 million ) from the sale of shares to cover overallotments. We did not initially receive any proceeds from the sale of our common stock sold pursuant to the forward sale agreements. We used the net proceeds from the sale of the overallotment shares to the underwriters, and we expect to use the net proceeds from the sale of shares of our common stock pursuant to the forward sale agreements, to repay commercial paper, to fund working capital and for other general corporate purposes. As of February 26, 2019 , a total of 16,906,185 shares of Sempra Energy common stock from our January 2018 and July 2018 offerings remain subject to future settlement under these forward sale agreements, which may be settled on one or more dates specified by us occurring no later than December 15, 2019, which is the final settlement date under the agreements. Although we expect to settle the forward sale agreements entirely by the physical delivery of shares of our common stock in exchange for cash proceeds, we may, subject to certain conditions, elect cash settlement or net share settlement for all or a portion of our obligations under the forward sale agreements. The forward sale agreements are also subject to acceleration by the forward purchasers upon the occurrence of certain events. EARNINGS PER COMMON SHARE Basic EPS is calculated by dividing earnings attributable to common shares by the weighted-average common shares outstanding for the year. Diluted EPS includes the potential dilution of common stock equivalent shares that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. EARNINGS PER COMMON SHARE COMPUTATIONS (Dollars in millions, except per share amounts; shares in thousands) Years ended December 31, 2018 2017 2016 Numerator: Earnings attributable to common shares $ 924 $ 256 $ 1,370 Denominator: Weighted-average common shares outstanding for basic EPS (1) 268,072 251,545 250,217 Dilutive effect of stock options, RSAs and RSUs (2) 919 755 938 Dilutive effect of common shares sold forward 861 — — Weighted-average common shares outstanding for diluted EPS 269,852 252,300 251,155 EPS: Basic $ 3.45 $ 1.02 $ 5.48 Diluted $ 3.42 $ 1.01 $ 5.46 (1) Includes average fully vested RSUs held in our Deferred Compensation Plan of 641 in 2018, 609 in 2017 and 568 in 2016. These fully vested RSUs are included in weighted-average common shares outstanding for basic EPS because there are no conditions under which the corresponding shares will not be issued. (2) Due to market fluctuations of both Sempra Energy common stock and the comparative indices used to determine the vesting percentage of our total shareholder return performance-based RSUs, which we discuss in Note 10 , dilutive RSUs may vary widely from period-to-period. The potentially dilutive impact from stock options, RSAs and RSUs is calculated under the treasury stock method. Under this method, proceeds based on the exercise price and unearned compensation are assumed to be used to repurchase shares on the open market at the average market price for the period, reducing the number of potential new shares to be issued and sometimes causing an antidilutive effect. The computation of diluted EPS excludes potentially dilutive shares of 20,814 for 2018, 237,741 for 2017 and zero for 2016 because to include them would be antidilutive for the period. However, these shares could potentially dilute basic EPS in the future. The potentially dilutive impact from the forward sale of our common stock pursuant to the forward sale agreements that we discuss above is reflected in our diluted EPS calculation using the treasury stock method. We anticipate there will be a dilutive effect on our EPS when the average market price of our common stock shares is above the applicable adjusted forward sale price, subject to increase or decrease based on the overnight bank funding rate, less a spread, and subject to decrease by amounts related to expected dividends on shares of our common stock during the term of the forward sale agreements. Additionally, if we decide to physically settle or net share settle the forward sale agreements, delivery of our shares to the forward purchasers on any such physical settlement or net share settlement of the forward sale agreements would result in dilution to our EPS. The potentially dilutive impact from mandatory convertible preferred stock that we issued in 2018 is calculated under the if-converted method. The computation of diluted EPS for the year ended December 31, 2018 excludes 17,197,035 potentially dilutive shares, because to include them would be antidilutive for the period. However, these shares could potentially dilute basic EPS in the future. We discuss the 2018 issuances of our mandatory convertible preferred stock in Note 13 . We are authorized to issue 750 million shares of no par value common stock. The following table provides common stock activity for the last three years. COMMON STOCK ACTIVITY Years ended December 31, 2018 2017 2016 Common shares outstanding, January 1 251,358,977 250,152,514 248,298,080 Shares issued under forward sale agreements 21,175,473 — — RSUs vesting (1) 509,042 362,022 1,363,555 Stock options exercised 138,861 164,454 167,742 Savings plan issuance 553,036 567,428 653,607 Common stock investment plan (2) 231,242 254,047 266,056 Issuance of RSUs held in our Deferred Compensation Plan 3,357 7,811 — Shares repurchased (3) (200,475 ) (149,299 ) (596,526 ) Common shares outstanding, December 31 273,769,513 251,358,977 250,152,514 (1) Includes dividend equivalents. (2) Participants in the Direct Stock Purchase Plan may reinvest dividends to purchase newly issued shares. (3) |
SAN ONOFRE NUCLEAR GENERATING S
SAN ONOFRE NUCLEAR GENERATING STATION (SONGS) | 12 Months Ended |
Dec. 31, 2018 | |
Regulated Operations [Abstract] | |
San Onofre Nuclear Generating Station (SONGS) | REGULATORY MATTERS REGULATORY ASSETS AND LIABILITIES We show the details of regulatory assets and liabilities in the following table and discuss them below. REGULATORY ASSETS (LIABILITIES) (Dollars in millions) December 31, 2018 2017 SDG&E: Fixed-price contracts and other derivatives $ (150 ) $ 96 Deferred income taxes refundable in rates (236 ) (281 ) Pension and other postretirement benefit plan obligations 186 153 Removal obligations (1,848 ) (1,846 ) Unamortized loss on reacquired debt 7 9 Environmental costs 28 29 Sunrise Powerlink fire mitigation 120 119 Regulatory balancing accounts (1) Commodity – electric (8 ) 82 Gas transportation 45 22 Safety and reliability 70 48 Public purpose programs (62 ) (70 ) Other balancing accounts 145 233 Other regulatory liabilities, net (2) (177 ) (70 ) Total SDG&E (1,880 ) (1,476 ) SoCalGas: Pension and other postretirement benefit plan obligations 470 513 Employee benefit costs 49 45 Removal obligations (833 ) (924 ) Deferred income taxes refundable in rates (336 ) (437 ) Unamortized loss on reacquired debt 7 8 Environmental costs 28 22 Workers’ compensation 9 12 Regulatory balancing accounts (1) Commodity – gas, including transportation 196 151 Safety and reliability 332 266 Public purpose programs (325 ) (274 ) Other balancing accounts (68 ) (114 ) Other regulatory liabilities, net (2) (130 ) (64 ) Total SoCalGas (601 ) (796 ) Sempra Mexico: Deferred income taxes recoverable in rates 81 83 Other regulatory assets 6 — Total Sempra Energy Consolidated $ (2,394 ) $ (2,189 ) (1) At December 31, 2018 and 2017 , the noncurrent portion of regulatory balancing accounts – net undercollected for SDG&E was $78 million and $63 million , respectively. At December 31, 2018 and 2017 , the noncurrent portion of regulatory balancing accounts – net undercollected for SoCalGas was $185 million and $118 million , respectively. (2) Includes regulatory assets earning a rate of return. In the table above: ▪ Regulatory assets arising from fixed-price contracts and other derivatives are offset by corresponding liabilities arising from purchased power and natural gas commodity and transportation contracts. The regulatory asset is increased/decreased based on changes in the fair market value of the contracts. It is also reduced as payments are made for commodities and services under these contracts. We discuss fixed-price contracts and other derivatives further in Note 11 . ▪ Deferred income taxes refundable/recoverable in rates are based on current regulatory ratemaking and income tax laws. SDG&E, SoCalGas and Sempra Mexico expect to refund/recover net regulatory liabilities/assets related to deferred income taxes over the lives of the assets that give rise to the related accumulated deferred income tax balances. Regulatory assets include certain income tax benefits associated with flow-through repair allowance deductions, which we discuss further below. ▪ Regulatory assets/liabilities related to pension and other postretirement benefit plan obligations are offset by corresponding liabilities/assets and are being recovered in rates as the plans are funded. ▪ The regulatory asset related to employee benefit costs represents our liability associated with long-term disability insurance that will be recovered from customers in future rates as expenditures are made. ▪ Regulatory liabilities from removal obligations represent cumulative amounts collected in rates for future asset removal costs in excess of cumulative amounts incurred (or paid). ▪ Regulatory assets related to unamortized loss on reacquired debt are recovered over the remaining amortization periods of the losses on reacquired debt. These periods range from 1 year to 9 years for SDG&E and from 3 years to 7 years for SoCalGas. ▪ Regulatory assets related to environmental costs represent the portion of our environmental liability recognized at the end of the period in excess of the amount that has been recovered through rates charged to customers. We expect this amount to be recovered in future rates as expenditures are made. We discuss environmental issues further in Note 16 . ▪ The regulatory asset related to Sunrise Powerlink fire mitigation is offset by a corresponding liability for the funding of a trust to cover the mitigation costs. SDG&E expects to recover the regulatory asset in rates as the trust is funded over a remaining 51 -year period. We discuss the trust further in Note 16 . ▪ The regulatory asset related to workers’ compensation represents accrued costs for future claims that will be recovered from customers in future rates as expenditures are made. ▪ Over- and undercollected regulatory balancing accounts reflect the difference between customer billings and recorded or CPUC-authorized costs, including commodity costs. Depreciation and return on rate base may also be included in certain accounts. Amounts in the balancing accounts are recoverable (receivable) or refundable (payable) in future rates, subject to CPUC approval. Absent balancing account treatment, variations in covered costs, such as the cost of fuel supply and certain O&M costs, from amounts approved by the CPUC would increase volatility in utility earnings. Balancing account treatment eliminates the volatility in earnings that would otherwise result from variances in the covered costs compared to the authorized amounts. Amortization expense on regulatory assets for the years ended December 31, 2018 , 2017 and 2016 was $5 million , $50 million and $65 million , respectively, at Sempra Energy Consolidated, $2 million , $49 million and $63 million , respectively, at SDG&E, and $3 million , $1 million and $2 million , respectively, at SoCalGas. CALIFORNIA UTILITIES CPUC General Rate Case The CPUC uses a GRC proceeding to set sufficient rates to allow the California Utilities to recover their reasonable cost of O&M and to provide the opportunity to realize their authorized rates of return on their investment. 2019 General Rate Case On October 6, 2017, SDG&E and SoCalGas filed their 2019 GRC applications requesting CPUC approval of test year revenue requirements for 2019 and attrition year adjustments for 2020 through 2022. SDG&E and SoCalGas are seeking revenue requirements for 2019 of $2.203 billion and $2.937 billion , respectively, which is an increase of $221 million and $481 million over their respective 2018 revenue requirements (the 2019 proposed and 2018 actual revenue requirements reflect the impact of various updates made during the course of the proceeding). The California Utilities are proposing post-test year revenue requirement annual attrition percentages that are estimated to result in annual increases of approximately 5 percent to 7 percent at SDG&E and approximately 6 percent to 8 percent at SoCalGas. The original GRC applications filed in October 2017 did not reflect the impact of the TCJA, which we discuss below in “2016 General Rate Case” and in Note 8 . In April 2018, SDG&E and SoCalGas updated their applications to reflect the impact of the TCJA and filed a joint proposal to address the impacts. The TCJA impact to SDG&E is a reduction of approximately $58 million to its 2019 test year revenue requirement; however, SDG&E’s 2019 requested revenue requirement is unchanged as we evaluate potentially higher costs associated with mitigating wildfire risks. The TCJA impact to SoCalGas’ 2019 requested revenue requirement is a reduction of approximately $58 million , which is reflected in its updated request. During the course of the proceeding, Cal PA recommended 2019 revenue requirements of $1.918 billion and $2.695 billion for SDG&E and SoCalGas, respectively, which is a net decrease of $64 million for SDG&E and a net increase of $239 million for SoCalGas compared to the 2018 revenue requirements. Cal PA proposes a three-year annual attrition percentage of 4 percent for SDG&E and a range of 4 percent to 5 percent for SoCalGas. Cal PA recommends addressing SDG&E’s potential ownership of OMEC in a separate proceeding. As a result, Cal PA’s proposed 2019 revenue requirement does not include the estimated $68 million associated with owning and operating the generating facility. SDG&E’s potential acquisition of OMEC is subject to a CPUC-approved agreement under which the current owner of the facility can exercise a put option at a designated price. As we discuss in Note 1, SDG&E and OMEC LLC signed a resource adequacy capacity agreement in October 2018, which, if approved by the CPUC on a final and non-appealable basis before the expiration of the put option on April 1, 2019, would result in OMEC LLC waiving its right to exercise the put option. TURN and other intervenors oppose various components of our revenue requirement requests in the 2019 GRC applications. As part of the 2019 GRC, the CPUC reviewed the California Utilities’ interim accountability reports, which compare the authorized and actual spending for certain safety-related activities for 2014 through 2016. In June 2017, SDG&E and SoCalGas filed their first interim accountability reports comparing authorized and actual spending in 2014 and 2015 for certain safety-related activities. Similar data for 2016 was provided with the 2019 GRC application filings in a second interim accountability report filed in October 2017. The stated purpose of the initial interim accountability reports is to provide data and metrics for key safety and risk mitigation areas that will be considered in the 2019 GRC. In October 2018, the CPUC confirmed that the 2014, 2015 and 2016 interim accountability reports were compliant with the requirements and also recommended improvements for subsequent reports. The results of the rate case may materially and adversely differ from what is contained in the GRC applications. We expect a preliminary decision from the CPUC in the first half of 2019. Risk Assessment Mitigation Phase Reporting and Impact on the 2019 GRC Application Filings In December 2014, the CPUC issued a decision incorporating a risk-based decision-making framework into all future GRC application filings for major natural gas and electric utilities in California. In November 2016, as part of the new framework, SDG&E and SoCalGas filed their first RAMP report presenting a comprehensive assessment of their key safety risks and proposed activities for mitigating such risks. The report details these key safety risks, which include critical operational issues such as natural gas pipeline safety and wildfire safety, and addresses their classification, scoring, mitigation, alternatives, safety culture, quantitative analysis, data collection and lessons learned. SDG&E and SoCalGas included funding requests in their respective 2019 GRC filings for proposed projects or activities outlined in their RAMP reports. In April 2018, the CPUC granted SDG&E’s and SoCalGas’ motion to close the proceeding as all RAMP procedures had been completed. In December 2018, the CPUC approved a joint settlement agreement that establishes the required elements for the risk and mitigation analysis to be used in RAMP and GRC proceedings with minor modifications. Senate Bill 549. SB 549 was signed into law in September 2017 and became effective January 1, 2018. The bill requires that SDG&E and SoCalGas (as electric and gas corporations) annually notify the CPUC when revenue authorized by the CPUC for maintenance, safety or reliability is redirected to other purposes. Beginning in December 2018, t he CPUC began incorporating and will continue to incorporate this requirement into the accountability reports. 2016 General Rate Case In June 2016, the CPUC issued a final decision in the 2016 GRC. The 2016 GRC FD adopted a 2016 revenue requirement of $1.791 billion for SDG&E and $2.204 billion for SoCalGas. The 2016 GRC FD was effective retroactive to January 1, 2016, and the California Utilities recorded the retroactive impacts in the second quarter of 2016. The 2016 GRC FD also required certain refunds to be paid to customers and establishes a two-way income tax expense memorandum account, each discussed below. The 2016 GRC FD results in certain accounting impacts associated with flow-through income tax repairs deductions. In general, the 2016 GRC FD considers that the income tax benefits obtained from income tax repairs deductions exceeded amounts forecasted by the California Utilities from 2011 to 2015, and that they were attributed to shareholders during that time. The 2016 GRC FD reallocated the economic benefit of this tax deduction forecasting difference to ratepayers. Accordingly, revenues corresponding to income tax repair deductions that exceeded forecasted amounts were ordered to be refunded to customers. Pursuant to this refund requirement, in 2016, SDG&E and SoCalGas recorded regulatory liabilities for these amounts, resulting in reductions to revenue of $52 million ( $31 million after tax) and $83 million ( $49 million after tax), respectively. The 2016 GRC FD required SDG&E and SoCalGas to each establish a two-way income tax expense memorandum account to track certain revenue variances resulting from certain differences between the income tax expense forecasted in the GRC and the income tax expense incurred from 2016 through 2018. The variances to be tracked include tax expense differences relating to: ▪ net revenue changes; ▪ mandatory tax law, tax accounting, tax procedural, or tax policy changes; and ▪ elective tax law, tax accounting, tax procedural, or tax policy changes. At December 31, 2018 , the recorded regulatory liability associated with these tracked amounts totaled $89 million and $94 million for SDG&E and SoCalGas, respectively. The recorded liability is primarily related to lower income tax expense incurred than was forecasted in the GRC relating to tax repairs deductions, self-developed software deductions and certain book-over-tax depreciation. The tracking accounts will remain open until the CPUC decides to close the accounts, which we expect will be reviewed in the 2019 GRC proceedings. The 2016 GRC FD revenue requirement was authorized using a federal income tax rate of 35 percent . As a result of the TCJA, the federal income tax rate became 21 percent effective January 1, 2018. Since SDG&E and SoCalGas continue to collect authorized revenues based on a 35 percent tax rate, SDG&E and SoCalGas are recording revenue deferrals, aligned with authorized seasonality factors, that reflect the estimated reduction in the revenue requirement. As of December 31, 2018 , SDG&E and SoCalGas recorded regulatory liabilities of $75 million and $68 million , respectively, in anticipation of amounts that will benefit customers in future rates. SDG&E also recorded a $67 million regulatory liability at December 31, 2018 , relating to its FERC jurisdictional rates, in anticipation of amounts that will benefit customers in future rates for the decrease in the federal income tax rate. CPUC Cost of Capital In September 2017, SDG&E and SoCalGas filed advice letters to update their cost of capital for the actual cost of long-term debt through August 2017 and forecasted cost through 2018. SDG&E and SoCalGas did not file for changes to preferred stock costs, because no issuances of preferred stock through 2018 were anticipated. In October 2017, the CPUC approved the embedded cost of debt presented in advice letters filed by SDG&E and SoCalGas, resulting in a revised return on rate base for SDG&E of 7.55 percent and for SoCalGas of 7.34 percent , effective January 1, 2018, as depicted in the table below: AUTHORIZED COST OF CAPITAL AND RATE STRUCTURE – CPUC SDG&E SoCalGas Authorized weighting Return on rate base Weighted rate base Authorized weighting Return on Weighted 45.25 % 4.59 % 2.08 % Long-Term Debt 45.60 % 4.33 % 1.97 % 2.75 6.22 0.17 Preferred Stock 2.40 6.00 0.14 52.00 10.20 5.30 Common Equity 52.00 10.05 5.23 100.00 % 7.55 % 100.00 % 7.34 % The changes to the embedded cost of debt and return on rate base resulting from the updates included in the filed advice letters are summarized below: CHANGES TO THE EMBEDDED COST OF DEBT SDG&E SoCalGas Cost of debt Return on rate base Cost of Return on Previously 5.00 % 7.79 % 5.77 % 8.02 % Authorized, effective January 1, 2018 4.59 % 7.55 % 4.33 % 7.34 % Differences (41 ) bps (24 ) bps (144 ) bps (68 ) bps The costs of long-term debt and the ROEs shown above will remain in effect through December 31, 2019. The cost of capital changes will also apply to capital expenditures in 2019 for incremental projects not funded through the GRC revenue requirement. SDG&E and SoCalGas are required to file cost of capital applications by the end of April 2019 for a January 1, 2020 implementation date. The automatic CCM did not operate in 2018 and will be evaluated in the 2019 cost of capital proceeding. SDG&E FERC Rate Matters and Cost of Capital SDG&E files separately with the FERC for its authorized ROE on FERC-regulated electric transmission operations and assets. SDG&E’s current estimated FERC return on rate base under the TO4 formula rate request filing is 7.51 percent based on its capital structure as follows: SDG&E COST OF CAPITAL AND RATE STRUCTURE – FERC Weighting Return on rate base Weighted return on rate base Long-Term Debt 43.44 % 4.21 % 1.83 % Common Equity 56.56 10.05 5.68 100.00 % 7.51 % FERC Formulaic Rate Filing SDG&E submitted its TO5 filing with the FERC in October 2018 to be effective January 1, 2019, subject to refund. This proceeding will establish the revenue requirement, including rate of return, for SDG&E’s FERC-regulated electric transmission operations and assets. SDG&E’s TO5 filing proposes to continue most aspects of its existing FERC-authorized formula rate. SDG&E’s TO5 filing is requesting: (1) rates to be determined by a base period of historical costs and a forecast of capital investments, (2) a true-up period, which is similar to a balancing account that is designed to provide SDG&E earnings of no more and no less than its actual cost of service including its authorized return on investment, (3) a true-up of accumulated deferred income tax and (4) a refund of amounts collected in rates in 2018 that presumed a 35 percent federal income tax rate. The net impact of our TO5 filing is a revenue requirement of $911 million , an increase in rates of $88 million , or 10.6 percent , above 2018’s revenue requirement. This TO5 proceeding will also set SDG&E’s authorized FERC ROE. SDG&E’s current authorized FERC ROE is 10.05 percent , and SDG&E’s TO5 filing proposes a FERC ROE of 11.2 percent . On December 31, 2018, the FERC issued its order accepting and suspending the TO5 filing and establishing hearing and settlement judge procedures. In the order, the FERC suspended the TO5 filing for five months, during which the existing TO4 rates will remain in effect. After the suspension period ends, the proposed TO5 rates will take effect, subject to refund and the outcome of the hearing and settlement judge procedures. A FERC settlement judge has been appointed, and we expect settlement conferences to begin in the first quarter of 2019. SEMPRA SOUTH AMERICAN UTILITIES Luz del Sur serves primarily regulated customers in Peru and revenues are based on rates set by the OSINERGMIN. The rates are reviewed and adjusted every four years. OSINERGMIN’s final distribution rate-setting resolution for the 2018-2022 period was published on October 16, 2018 and went into effect on November 1, 2018. The resolution decreases the rates Luz del Sur can charge its regulated customers, resulting in a modest reduction in regulated revenues per annum. Luz del Sur submitted a petition for reconsideration to the regulator in November 2018 and obtained a favorable response in late December 2018 that reduces the negative impact to rates from the resolution published on October 16, 2018. The adjustment is retroactive to November 1, 2018. Chilquinta Energía serves regulated and unregulated customers in Chile. Distribution revenues and rates are reviewed and set by the CNE every four years; the most recent review process was completed in November 2016, covering the period from November 2016 through October 2020. On September 28, 2018, a distribution interim rate case, which included an adjustment to rates, was approved to allow adequate recovery of the incremental investment, including the deployment of smart meters to all customers, necessary to comply with the new distribution standards set by the CNE in December 2017. These interim adjusted rates will be applicable from September 28, 2018 through October 2020. Chilquinta Energía’s most recent review process for zonal transmission rates was completed in September 2017. The final decree approving the rates was published on October 5, 2018. The authorized transmission rates will cover the period from January 2018 through December 2019. As we discuss in Note 5 , Chilquinta Energía acquired CTNG in December 2018. CTNG owns both national and zonal transmission assets. CTNG’s most recent review process for national transmission rates was completed in 2015 and covers the period from January 2016 to December 2019. The review process for zonal transmission rates was completed in 2017 and covers the periods from January 2018 to December 2019. SEMPRA MEXICO On July 23, 2018, the CRE adjusted Ecogas’ natural gas distribution rates charged to end-users in 2014 through 2016. Ecogas recorded a regulatory asset of $7 million SDG&E has a 20 -percent ownership interest in SONGS, a nuclear generating facility near San Clemente, California, which ceased operations in June 2013. On June 6, 2013, after an extended outage beginning in 2012, as a result of issues with the steam generators used in the facility, Edison, the majority owner and operator of SONGS, notified SDG&E that it had reached a decision to permanently retire SONGS and seek approval from the NRC to start the decommissioning activities for the entire facility. SONGS is subject to the jurisdiction of the NRC and the CPUC . SDG&E, and each of the other owners, holds its undivided interest as a tenant in common in the property. Each owner is responsible for financing its share of costs. SDG&E’s share of operating expenses is included in Sempra Energy’s and SDG&E’s Consolidated Statements of Operations. SONGS STEAM GENERATOR REPLACEMENT PROJECT The replacement steam generators, which caused a water leak due to unexpected tube wear, were designed and provided by MHI. In 2013, Edison instituted arbitration proceedings against MHI seeking recovery of damages resulting from the issues with the steam generators used in SONGS Units 2 and 3. The other SONGS co-owners, SDG&E and the City of Riverside, participated as claimants and respondents. On March 13, 2017, the International Chamber of Commerce International Court of Arbitration Tribunal (the Tribunal) overseeing the arbitration found MHI liable for breach of contract, subject to a contractual limitation of liability, and rejected claimants’ other claims. The Tribunal awarded $118 million in damages to the SONGS co-owners, but determined that MHI was the prevailing party and awarded it 95 percent of its arbitration costs. The damage award is offset by these costs, resulting in a net award of approximately $60 million in favor of the SONGS co-owners. SDG&E’s specific allocation of the damage award is $24 million reduced by costs awarded to MHI of approximately $12 million , resulting in a net damage award of $12 million , which was paid by MHI to SDG&E in March 2017. In accordance with the Amended Settlement Agreement discussed below, SDG&E recorded the proceeds from the MHI arbitration by reducing O&M for previously incurred legal costs of $11 million , and shared the remaining $1 million equally between ratepayers and shareholders. SETTLEMENT AGREEMENT TO RESOLVE THE CPUC’S ORDER INSTITUTING INVESTIGATION INTO THE SONGS OUTAGE In 2012, in response to the SONGS outage, the CPUC issued the SONGS OII, which was intended to determine the ultimate recovery of the investment in SONGS and the costs incurred since the commencement of this outage. In 2014, the CPUC issued a final decision approving an Amended Settlement Agreement which provided for various disallowances, refunds and rate recoveries, including authorizing SDG&E to recover in rates its remaining investment in SONGS, excluding its investment in the Steam Generator Replacement Project. In 2016, the CPUC issued two procedural rulings: the first, to reopen the record of the OII to address the issue of whether the Amended Settlement Agreement is reasonable and in the public interest, and the second, directing parties to the SONGS OII to determine whether an agreement could be reached to modify the Amended Settlement Agreement previously approved by the CPUC, to resolve allegations that unreported ex parte communications between Edison and the CPUC resulted in an unfair advantage at the time the settlement agreement was negotiated. In July 2018, the CPUC approved a Revised Settlement Agreement among SDG&E, Edison, Cal PA, TURN and other intervenors that resolved all issues under consideration in the SONGS OII and made one modification to the Amended Settlement Agreement to remove the requirement to fund a GHG emissions reduction research program. In August 2018, parties to the Revised Settlement Agreement submitted a notice that they accepted the settlement agreement, as modified. In connection with the Revised Settlement Agreement, and in exchange for the release of certain SONGS-related claims, SDG&E and Edison entered into the Utility Shareholder Agreement, described below. Disallowances, Refunds and Recoveries Under the Revised Settlement Agreement, SDG&E and Edison ceased rate recovery of SONGS costs as authorized under the Amended Settlement Agreement as of December 19, 2017, when the present value of their combined remaining SONGS regulatory assets equaled $775 million , of which $152 million represents SDG&E’s share. Under the Utility Shareholder Agreement, Edison is obligated to pay SDG&E the full amount of SDG&E’s revenue requirement not recovered from ratepayers, as described below. In October 2018, SDG&E began refunding to customers SONGS-related amounts recovered in rates after December 19, 2017. Utility Shareholder Agreement In January 2018, SDG&E and Edison entered into the Utility Shareholder Agreement under which Edison has an obligation to compensate SDG&E for the revenue requirement amounts that SDG&E will no longer recover because of the Revised Settlement Agreement. In exchange for Edison’s reimbursement, the parties mutually released each other from the “SONGS Issues,” a defined term that consists of 18 broad categories. The effect of the agreement is that the parties released each other from any and all claims that each party had or could have asserted related to the steam generator replacement failure and its aftermath. The Utility Shareholder Agreement became effective upon CPUC approval of the Revised Settlement Agreement. Edison’s payment obligation commenced in October 2018, and amounts are due to SDG&E quarterly thereafter until April 2022. At December 31, 2018, SDG&E has a receivable from Edison, including accrued interest, totaling $124 million , with $40 million classified as current and $84 million classified as noncurrent. This receivable reflects amounts Edison is obligated to pay to SDG&E in lieu of amounts SDG&E would have collected from ratepayers associated with the SONGS regulatory asset. NUCLEAR DECOMMISSIONING AND FUNDING As a result of Edison’s decision to permanently retire SONGS Units 2 and 3, Edison began the decommissioning phase of the plant. Decommissioning of Unit 1, removed from service in 1992, is largely complete. The remaining work for Unit 1 will be done once Units 2 and 3 are dismantled and the spent fuel is removed from the site. Edison contracted with a JV of AECOM and EnergySolutions (known as SONGS Decommissioning Solutions) as the general contractor to complete the dismantlement of SONGS. The majority of the dismantlement work is expected to take 10 years . SDG&E is responsible for approximately 20 percent of the total contract price. In accordance with state and federal requirements and regulations, SDG&E has assets held in the NDT to fund its share of decommissioning costs for SONGS Units 1, 2 and 3. The amounts collected in rates for SONGS’ decommissioning are invested in the NDT, which is comprised of externally managed trust funds. Amounts held by the NDT are invested in accordance with CPUC regulations. The NDT assets are presented on the Sempra Energy and SDG&E Consolidated Balance Sheets at fair value with the offsetting credits recorded in noncurrent Regulatory Liabilities. In March 2018, SDG&E and Edison jointly filed an application requesting CPUC approval of revised remaining decommissioning cost estimates (for costs estimated to be incurred in 2018 and beyond) for SONGS Unit 1 of $207 million (in 2014 dollars), of which SDG&E’s share is $41 million , and SONGS Units 2 and 3 of $3.2 billion (in 2014 dollars), of which SDG&E’s share is $638 million . In addition, SDG&E has estimated internal decommissioning costs (for costs estimated to be incurred in 2018 and beyond) of $3 million (in 2014 dollars) for SONGS Unit 1 and $43 million (in 2014 dollars) for SONGS Units 2 and 3. Except for the use of funds for the planning of decommissioning activities or NDT administrative costs, CPUC approval is required for SDG&E to access the NDT assets to fund SONGS decommissioning costs for Units 2 and 3. SDG&E has received authorization from the CPUC to access NDT funds of up to $455 million for 2013 through 2019 (2019 forecasted) SONGS decommissioning costs. This includes up to $93 million authorized by the CPUC in January 2019 to be withdrawn from the NDT for forecasted 2019 SONGS Units 2 and 3 costs as decommissioning costs are incurred. In December 2018, the CPUC issued a final decision finding the decommissioning cost estimates for SONGS Unit 1 generally reasonable with certain disallowances. The decision also found $136 million (in 2014 dollars) of SONGS Units 2 and 3 decommissioning expenses for 2014 and $222 million (in 2014 dollars) of SONGS Units 2 and 3 decommissioning expenses for 2015 to be reasonable. In December 2016, the IRS and the U.S. Department of the Treasury issued proposed regulations that clarify the definition of “nuclear decommissioning costs,” which are costs that may be paid for or reimbursed from a qualified trust fund. The proposed regulations state that costs related to the construction and maintenance of independent spent fuel management installations are included in the definition of “nuclear decommissioning costs.” The proposed regulations will be effective prospectively once they are finalized; however, the IRS has stated that it will not challenge taxpayer positions consistent with the proposed regulations for taxable years ending on or after the date the proposed regulations were issued. SDG&E is awaiting the adoption of, or additional refinement to, the proposed regulations before determining whether the proposed regulations will allow SDG&E to access the NDT funds for reimbursement or payment of the spent fuel management costs incurred in 2017 and subsequent years. Further clarification of the proposed regulations could enable SDG&E to access the NDT to recover spent fuel management costs before Edison reaches final settlement with the DOE regarding the DOE’s reimbursement of these costs. Historically, the DOE’s reimbursements of spent fuel storage costs have not resulted in timely or complete recovery of these costs. We discuss the DOE’s responsibility for spent nuclear fuel below. The IRS held public hearings on the proposed regulations in October 2017. It is unclear when clarification of the proposed regulations might be provided or when the proposed regulations will be finalized. Nuclear Decommissioning Trusts The amounts collected in rates for SONGS’ decommissioning are invested in the NDT, which is comprised of externally managed trust funds. Amounts held by the trusts are invested in accordance with CPUC regulations. These trusts are shown on the Sempra Energy and SDG&E Consolidated Balance Sheets at fair value with the offsetting credits recorded in noncurrent Regulatory Liabilities. The following table shows the fair values and gross unrealized gains and losses for the securities held in the NDT. We provide additional fair value disclosures for the NDT in Note 12 . NUCLEAR DECOMMISSIONING TRUSTS (Dollars in millions) Cost Gross unrealized gains Gross unrealized losses Estimated fair value At December 31, 2018: Debt securities: Debt securities issue |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 12 Months Ended |
Dec. 31, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | COMMITMENTS AND CONTINGENCIES LEGAL PROCEEDINGS We accrue losses for a legal proceeding when it is probable that a loss has been incurred and the amount of the loss can be reasonably estimated. However, the uncertainties inherent in legal proceedings make it difficult to reasonably estimate the costs and effects of resolving these matters. Accordingly, actual costs incurred may differ materially from amounts accrued, may exceed applicable insurance coverage and could materially adversely affect our business, cash flows, results of operations, financial condition and prospects. Unless otherwise indicated, we are unable to estimate reasonably possible losses in excess of any amounts accrued. At December 31, 2018 , loss contingency accruals for legal matters, including associated legal fees, that are probable and estimable were $200 million for Sempra Energy Consolidated, including $2 million for SDG&E and $147 million for SoCalGas. Amounts for Sempra Energy and SoCalGas include $136 million for matters related to the Aliso Canyon natural gas storage facility gas leak, which we discuss below. We discuss our policy regarding accrual of legal fees in Note 1 . SDG&E 2007 Wildfire Litigation and Net Cost Recovery Status SDG&E has resolved all litigation associated with three wildfires that occurred in October 2007. As a result of a CPUC decision denying SDG&E’s request to recover wildfire costs, SDG&E wrote off the wildfire regulatory asset, resulting in a charge of $351 million ( $208 million after tax) in the third quarter of 2017. SDG&E continues to vigorously pursue recovery of these costs, which were incurred through settling claims brought under the doctrine of inverse condemnation. SDG&E applied to the CPUC for rehearing of its decision on January 2, 2018. On July 12, 2018, the CPUC adopted a decision denying the rehearing requests filed by SDG&E and other parties. On August 3, 2018, SDG&E filed an appeal with the California Court of Appeal seeking to reverse the CPUC’s decision. The filing also asked the court to direct the CPUC to award SDG&E recovery for payments made to settle inverse condemnation claims and limit any reasonableness review to the amounts of those payments. On November 13, 2018, the California Court of Appeal denied SDG&E’s petition. On November 26, 2018, SDG&E filed an appeal with the California Supreme Court seeking to reverse the decisions of the CPUC and the California Court of Appeal. In January 2019, the California Supreme Court denied SDG&E’s petition. We intend to appeal the decision up to the U.S. Supreme Court seeking to reverse the CPUC’s decision. SoCalGas Aliso Canyon Natural Gas Storage Facility Gas Leak On October 23, 2015, SoCalGas discovered a leak at one of its injection-and-withdrawal wells, SS25, at its Aliso Canyon natural gas storage facility, located in the northern part of the San Fernando Valley in Los Angeles County. The Aliso Canyon natural gas storage facility has been operated by SoCalGas since 1972. SS25 is one of more than 100 injection-and-withdrawal wells at the storage facility. SoCalGas worked closely with several of the world’s leading experts to stop the Leak, and on February 18, 2016, DOGGR confirmed that the well was permanently sealed. SoCalGas calculated that approximately 4.62 Bcf of natural gas was released from the Aliso Canyon natural gas storage facility as a result of the Leak. As discussed in “Cost Estimates and Accounting Impact” below, SoCalGas incurred significant costs for temporary relocation, to control the well and to stop the Leak, as well as to purchase natural gas to replace that lost through the Leak. As discussed in “Local Community Mitigation Efforts” below, during the Leak and in the months following the sealing of the well, SoCalGas provided support to nearby residents who wished to temporarily relocate as a result of the Leak. These programs ended in July 2016. SoCalGas has additionally incurred significant costs to defend against and, in certain cases settle, civil and criminal litigation arising from the Leak; to pay for the ongoing root cause analysis to investigate the technical cause of the Leak; to respond to various government and agency investigations regarding the Leak, and to comply with increased regulation imposed as a result of the Leak. As further described below in “Civil and Criminal Litigation,” “Regulatory Proceedings” and “Governmental Investigations and Orders and Additional Regulation,” these activities are ongoing and SoCalGas anticipates that it will incur additional such costs, which may also be significant. Local Community Mitigation Efforts. Pursuant to a directive by the DPH and orders by the LA Superior Court, SoCalGas provided temporary relocation support to residents in the nearby community who requested it. Following the permanent sealing of the well, the DPH conducted testing in certain homes in the Porter Ranch community and concluded that indoor conditions did not present a long-term health risk and that it was safe for those residents to return home. In May 2016, the DPH also issued a directive that SoCalGas additionally professionally clean (in accordance with the proposed protocol prepared by the DPH) the homes of all residents located within the Porter Ranch Neighborhood Council boundary, or who participated in the relocation program, or who are located within a five-mile radius of the Aliso Canyon natural gas storage facility and experienced symptoms from the Leak (the Directive). SoCalGas disputes the Directive, contending that it is invalid and unenforceable, and has filed a petition for writ of mandate to set aside the Directive. The costs incurred to remediate and stop the Leak and to mitigate local community impacts have been significant and may increase, and we may be subject to potentially significant damages, restitution, and civil, administrative and criminal fines, penalties and other costs. If any of these costs are not covered by insurance (including any costs in excess of applicable policy limits), if there are significant delays in receiving insurance recoveries, or if the insurance recoveries are subject to income taxes while the associated costs are not tax deductible, such amounts could have a material adverse effect on SoCalGas’ and Sempra Energy’s cash flows, financial condition and results of operations. Civil and Criminal Litigation. As of February 21, 2019, 393 lawsuits, including approximately 48,000 plaintiffs, are pending against SoCalGas, some of which have also named Sempra Energy. All these cases, other than a matter brought by the Los Angeles County District Attorney, two complaints on behalf of certain firefighters and the federal securities class action discussed below, are coordinated before a single court in the LA Superior Court for pretrial management (the Coordination Proceeding). Pursuant to the Coordination Proceeding, in March 2017, the individuals and business entities asserting tort and Proposition 65 claims filed a Second Amended Consolidated Master Case Complaint for Individual Actions, through which their separate lawsuits will be managed for pretrial purposes. The consolidated complaint asserts causes of action for negligence, negligence per se, private and public nuisance (continuing and permanent), trespass, inverse condemnation, strict liability, negligent and intentional infliction of emotional distress, fraudulent concealment, loss of consortium and violations of Proposition 65 against SoCalGas, with certain causes also naming Sempra Energy. The consolidated complaint seeks compensatory and punitive damages for personal injuries, lost wages and/or lost profits, property damage and diminution in property value, injunctive relief, costs of future medical monitoring, civil penalties (including penalties associated with Proposition 65 claims alleging violation of requirements for warning about certain chemical exposures), and attorneys’ fees. In January 2017, pursuant to the Coordination Proceeding, two consolidated class action complaints were filed against SoCalGas and Sempra Energy, one on behalf of a putative class of persons and businesses who own or lease real property within a five-mile radius of the well (the Property Class Action), and a second on behalf of a putative class of all persons and entities conducting business within five miles of the facility (the Business Class Action). Both complaints assert claims for strict liability for ultra-hazardous activities, negligence and violation of the California Unfair Competition Law. The Property Class Action also asserts claims for negligence per se, trespass, permanent and continuing public and private nuisance, and inverse condemnation. The Business Class Action also asserts a claim for negligent interference with prospective economic advantage. Both complaints seek compensatory, statutory and punitive damages, injunctive relief and attorneys’ fees. In December 2017, the California Court of Appeal, Second Appellate District ruled that the purely economic damages alleged in the Business Class Action are not recoverable under the law. In February 2018, the California Supreme Court granted a petition filed by the plaintiffs to review that ruling. In September and October of 2017, property developers filed two complaints, one of which was amended in July 2018, against SoCalGas and Sempra Energy alleging causes of action for strict liability, negligence per se, negligence, continuing nuisance, permanent nuisance and violation of the California Unfair Competition Law, as well as claims for negligence against certain directors of SoCalGas. The complaints seek compensatory, statutory and punitive damages, injunctive relief and attorneys’ fees. These claims are joined in the Coordination Proceeding. In addition to the lawsuits described above, in October 2018 and January 2019, complaints were filed on behalf of 51 plaintiffs who are firefighters stationed near the Aliso Canyon natural gas storage facility and allege they were injured by exposure to chemicals released during the Leak. The complaints against SoCalGas and Sempra Energy assert causes of actions for negligence, negligence per se, private and public nuisance (continuing and permanent), trespass, inverse condemnation, strict liability, negligent and intentional infliction of emotional distress, fraudulent concealment and loss of consortium. The complaints seek compensatory and punitive damages for personal injuries, lost wages and/or lost profits, property damage and diminution in property value, and attorney’s fees. SoCalGas expects that these cases will be joined in the Coordination Proceeding. In addition, a federal securities class action alleging violation of the federal securities laws has been filed against Sempra Energy and certain of its officers and certain of its directors in the SDCA. In March 2018, the District Court dismissed the action with prejudice, and in December 2018 the Court denied the plaintiffs’ request for reconsideration of that order. The plaintiffs have filed a notice of appeal of the dismissal. Five shareholder derivative actions are also pending in the Coordination Proceeding alleging breach of fiduciary duties against certain officers and certain directors of Sempra Energy and/or SoCalGas, four of which were joined in a Consolidated Shareholder Derivative Complaint in August 2017. Three actions filed by public entities are pending in the Coordination Proceeding. First, in July 2016, the County of Los Angeles, on behalf of itself and the people of the State of California, filed a complaint against SoCalGas in the LA Superior Court for public nuisance, unfair competition, breach of franchise agreement, breach of lease, and damages. This suit alleges that the four natural gas storage fields operated by SoCalGas in Los Angeles County require safety upgrades, including the installation of a sub-surface safety shut-off valve on every well. It additionally alleges that SoCalGas failed to comply with the DPH Directive. It seeks preliminary and permanent injunctive relief, civil penalties, and damages for the County’s costs to respond to the Leak, as well as punitive damages and attorneys’ fees. Second, in August 2016, the California Attorney General, acting in an independent capacity and on behalf of the people of the State of California and the CARB, together with the Los Angeles City Attorney, filed a third amended complaint on behalf of the people of the State of California against SoCalGas alleging public nuisance, violation of the California Unfair Competition Law, violations of California Health and Safety Code sections 41700 (prohibiting discharge of air contaminants that cause annoyance to the public) and 25510 (requiring reporting of the release of hazardous material), as well as California Government Code section 12607 for equitable relief for the protection of natural resources. The complaint seeks an order for injunctive relief, to abate the public nuisance, and to impose civil penalties. Third, a petition for writ of mandate filed by the County of Los Angeles is pending against DOGGR and its State Oil and Gas Supervisor and the CPUC and its Executive Director, as to which SoCalGas is the real party in interest. The petition alleges that in issuing its July 2017 determination that the requirements for the resumption of injection operations were met (discussed under “Natural Gas Storage Operations and Reliability” below), DOGGR failed to comply with the provisions of SB 380, which requires a comprehensive safety review of the Aliso Canyon natural gas storage facility before injection of natural gas may resume. The County alleges, among other things, that DOGGR failed to comply with the provisions of SB 380 in declaring the safety review complete and authorizing the resumption of injection of natural gas into the facility before the root cause analysis was complete, failing to make its safety-review documents available to the public and failing to address seismic risks to the field as part of its safety review. The County further alleges that CEQA required DOGGR to prepare an environmental impact review before the resumption of injection of natural gas at the facility may be approved. The petition seeks a writ of mandate requiring DOGGR and the State Oil and Gas Supervisor to comply with SB 380 and CEQA, and to produce records in response to the County’s Public Records Act request, as well as declaratory and injunctive relief against any authorization to inject natural gas and attorneys’ fees. In August 2018, SoCalGas entered into a settlement agreement with the Los Angeles City Attorney’s Office, the County of Los Angeles, the California Office of the Attorney General and CARB (collectively, the Government Plaintiffs) to settle the three public entity actions for payments and funding for environmental projects totaling $120 million , including $21 million in civil penalties (the Government Plaintiffs Settlement). Under the settlement agreement, SoCalGas also agreed to continue its fence-line methane monitoring program, establish a safety committee and hire an independent ombudsman to monitor and report on the safety at the facility. This settlement also fully resolves SoCalGas’ commitment to mitigate the actual natural gas released during the Leak and fulfills the requirements of the Governor’s Order, described below, for SoCalGas to pay for a mitigation program developed by CARB. The Government Plaintiffs Settlement was approved by the LA Superior Court in February 2019. Separately, in February 2016, the Los Angeles County District Attorney’s Office filed a misdemeanor criminal complaint against SoCalGas seeking penalties and other remedies for alleged failure to provide timely notice of the Leak pursuant to California Health and Safety Code section 25510(a), Los Angeles County Code section 12.56.030, and Title 19 California Code of Regulations section 2703(a), and for allegedly violating California Health and Safety Code section 41700 prohibiting discharge of air contaminants that cause annoyance to the public. Pursuant to a settlement agreement with the Los Angeles County District Attorney’s Office, SoCalGas agreed to plead no contest to the notice charge under Health and Safety Code section 25510(a) and agreed to pay the maximum fine of $75,000 , penalty assessments of approximately $233,500 , and operational commitments estimated to cost approximately $6 million , reimbursements and assessments in exchange for the Los Angeles County District Attorney’s Office moving to dismiss the remaining counts at sentencing and settling the complaint (the District Attorney Settlement). In November 2016, SoCalGas completed the commitments and obligations under the District Attorney Settlement, and on November 29, 2016, the LA Superior Court approved the settlement and entered judgment on the notice charge. Certain individuals who object to the settlement have filed an appeal of the judgment, contending they should be granted restitution. The costs of defending against these civil and criminal lawsuits, and any damages, restitution, and civil, administrative and criminal fines, penalties and other costs, if awarded or imposed, as well as the costs of mitigating the actual natural gas released, could be significant. If any of these costs are not covered by insurance (including any costs in excess of applicable policy limits), if there are significant delays in receiving insurance recoveries, or if the insurance recoveries are subject to income taxes, such amounts could have a material adverse effect on SoCalGas’ and Sempra Energy’s cash flows, financial condition and results of operations. Regulatory Proceedings. In February 2017, the CPUC opened a proceeding pursuant to SB 380 to determine the feasibility of minimizing or eliminating the use of the Aliso Canyon natural gas storage facility, while still maintaining energy and electric reliability for the region. The CPUC indicated it intends to conduct the proceeding in two phases, with Phase 1 undertaking a comprehensive effort to develop the appropriate analyses and scenarios to evaluate the impact of reducing or eliminating the use of the Aliso Canyon natural gas storage facility and Phase 2 using those analyses and scenarios to evaluate the impacts of reducing or eliminating the use of the Aliso Canyon natural gas storage facility. The order establishing the scope of the proceeding expressly excludes issues with respect to air quality, public health, causation, culpability or cost responsibility regarding the Leak. In January 2019, the CPUC concluded Phase 1 of the proceeding by establishing a framework for the hydraulic, production cost and economic modeling assumptions for the potential reduction in usage or elimination of the Aliso Canyon natural gas storage facility. Phase 2 of the proceeding is expected to begin in the first quarter of 2019 and will evaluate the impacts of reducing or eliminating the Aliso Canyon natural gas storage facility using the established framework and models. Section 455.5 of the California Public Utilities Code, among other things, directs regulated utilities to notify the CPUC if all or any portion of a major facility has been out of service for nine consecutive months. Following an OII proceeding, the CPUC ruled in September 2018 that the Aliso Canyon natural gas storage facility had not been out of service for nine consecutive months within the meaning of section 455.5. Governmental Investigations and Orders and Additional Regulation. Various governmental agencies, including DOE, DOGGR, DPH, SCAQMD, CARB, Los Angeles Regional Water Quality Control Board, California Division of Occupational Safety and Health, CPUC, PHMSA, EPA, Los Angeles County District Attorney’s Office and California Attorney General’s Office, have investigated or are investigating this incident. In January 2016, DOGGR and the CPUC selected Blade Energy Partners to conduct, under their supervision, an independent analysis of the technical root cause of the Leak, to be funded by SoCalGas. The root cause analysis is ongoing, and its timing is under the control of Blade Energy Partners, DOGGR and the CPUC. In January 2016, the Governor of the State of California proclaimed a state of emergency in Los Angeles County due to the Leak. The proclamation ordered various actions with respect to the Leak, including: (1) applicable agencies must convene an independent panel of scientific and medical experts to review public health concerns stemming from the natural gas leak and evaluate whether additional measures are needed to protect public health; (2) the CPUC must ensure that SoCalGas covers costs related to the natural gas leak and its response while protecting ratepayers; (3) CARB must develop a program, to be funded by SoCalGas, to fully mitigate the Leak’s emissions of methane; and (4) DOGGR, CPUC, CARB and the CEC must submit to the Governor’s Office a report that assesses the long-term viability of natural gas storage facilities in California. In March 2016, the CARB issued its “Aliso Canyon Methane Leak Climate Impacts Mitigation Program” recommending a program to fully mitigate the emissions from the Leak. In October 2016, CARB issued a report concluding that SoCalGas should mitigate 109,000 metric tons of methane to fully mitigate the GHG impacts of the Leak. The Government Plaintiffs Settlement described above satisfies the mitigation requirement of the Governor’s emergency proclamation. Cost Estimates and Accounting Impact. At December 31, 2018 , SoCalGas estimates its costs related to the Leak are $1,055 million (the cost estimate), which includes $1,027 million of costs recovered or probable of recovery from insurance. Approximately 54 percent of the cost estimate is for the temporary relocation program (including cleaning costs and certain labor costs). The remaining portion of the cost estimate includes costs incurred to defend litigation, for the root cause analysis being conducted by an independent third party, for efforts to control the well, to mitigate the actual natural gas released, for the cost of replacing the lost gas, and other costs, as well as the estimated costs to settle certain actions. SoCalGas adjusts the cost estimate as additional information becomes available. A substantial portion of the cost estimate has been paid, and $160 million is accrued as Reserve for Aliso Canyon Costs as of December 31, 2018 on SoCalGas’ and Sempra Energy’s Consolidated Balance Sheets. As of December 31, 2018 , we recorded the expected recovery of the cost estimate related to the Leak of $461 million as Insurance Receivable for Aliso Canyon Costs on SoCalGas’ and Sempra Energy’s Consolidated Balance Sheets. This amount is net of insurance retentions and $566 million of insurance proceeds we received through December 31, 2018 related to portions of the cost estimate described above, including temporary relocation and associated processing costs, control-of-well expenses, legal costs and lost gas. If we were to conclude that this receivable or a portion of it is no longer probable of recovery from insurers, some or all of this receivable would be charged against earnings, which could have a material adverse effect on SoCalGas’ and Sempra Energy’s cash flows, financial condition and results of operations. As described in “Civil and Criminal Litigation” above, the actions seek compensatory, statutory and punitive damages, restitution, and civil, administrative and criminal fines, penalties and other costs, which, except for the amounts paid or estimated to settle certain actions, are not included in the cost estimate as it is not possible at this time to predict the outcome of these actions or reasonably estimate the amount of damages, restitution or civil, administrative or criminal fines, penalties or other costs that may be imposed. The recorded amounts above also do not include the costs to clean additional homes pursuant to the Directive, future legal costs necessary to defend litigation, and other potential costs that we currently do not anticipate incurring or that we cannot reasonably estimate. Furthermore, the cost estimate does not include certain other costs incurred by Sempra Energy associated with defending against shareholder derivative lawsuits. Insurance. Excluding directors’ and officers’ liability insurance, we have at least four kinds of insurance policies that together we estimate provide between $1.2 billion to $1.4 billion in insurance coverage, depending on the nature of the claims. We cannot predict all of the potential categories of costs or the total amount of costs that we may incur as a result of the Leak. Subject to various policy limits, exclusions and conditions, based on what we know as of the filing date of this report, we believe that our insurance policies collectively should cover the following categories of costs: costs incurred for temporary relocation and associated processing costs (including cleaning costs and certain labor costs), costs to address the Leak and stop or reduce emissions, the root cause analysis being conducted to investigate the cause of the Leak, the value of lost gas, costs incurred to mitigate the actual natural gas released, costs associated with litigation and claims by nearby residents and businesses, any costs to clean additional homes pursuant to the Directive, and, in some circumstances depending on their nature and manner of assessment, fines and penalties. We have been communicating with our insurance carriers and, as discussed above, we have received insurance payments for portions of the costs described above, including temporary relocation and associated processing costs, control-of-well expenses, legal costs and lost gas. We intend to pursue the full extent of our insurance coverage for the costs we have incurred or may incur. There can be no assurance that we will be successful in obtaining additional insurance recovery for these costs, and to the extent we are not successful in obtaining coverage or these costs exceed the amount of our coverage, such costs could have a material adverse effect on SoCalGas’ and Sempra Energy’s cash flows, financial condition and results of operations. At December 31, 2018 , SoCalGas’ estimate of costs related to the Leak of $1,055 million include $1,027 million of costs recovered or probable of recovery from insurance. This estimate may rise significantly as more information becomes available. Costs not included in the $1,055 million cost estimate could be material. If any costs are not covered by insurance (including any costs in excess of applicable policy limits), if there are significant delays in receiving insurance recoveries, or if the insurance recoveries are subject to income taxes while the associated costs are not tax deductible, such amounts could have a material adverse effect on SoCalGas’ and Sempra Energy’s cash flows, financial condition and results of operations. Natural Gas Storage Operations and Reliability. Natural gas withdrawn from storage is important for service reliability during peak demand periods, including peak electric generation needs in the summer and heating needs in the winter. The Aliso Canyon natural gas storage facility, with a capacity of 86 Bcf (representing 63 percent of SoCalGas’ natural gas storage capacity), is the largest SoCalGas storage facility and an important element of SoCalGas’ delivery system. As a result of the Leak, SoCalGas suspended injection of natural gas into the Aliso Canyon natural gas storage facility beginning in October 2015, and following a comprehensive safety review and authorization by DOGGR and the CPUC’s Executive Director, resumed limited injection operations in July 2017. During the suspension period, SoCalGas advised the California ISO, CEC, CPUC and PHMSA of its concerns that the inability to inject natural gas into the Aliso Canyon natural gas storage facility posed a risk to energy reliability in Southern California. The CPUC has issued a series of directives to SoCalGas establishing the range of working gas to be maintained in the Aliso Canyon natural gas storage facility to help ensure safety and reliability for the region and just and reasonable rates in California, the most recent of which, issued July 2, 2018, directed SoCalGas to maintain up to 34 Bcf of working gas. Limited withdrawals of natural gas from the facility were made in 2018 to augment natural gas supplies during critical demand periods. If the Aliso Canyon natural gas storage facility were to be permanently closed, or if future cash flows were otherwise insufficient to recover its carrying value, it could result in an impairment of the facility and significantly higher than expected operating costs and/or additional capital expenditures, and natural gas reliability and electric generation could be jeopardized. At December 31, 2018 , the Aliso Canyon natural gas storage facility had a net book value of $724 million . Any significant impairment of this asset could have a material adverse effect on SoCalGas’ and Sempra Energy’s results of operations for the period in which it is recorded. Higher operating costs and additional capital expenditures incurred by SoCalGas may not be recoverable in customer rates, and could have a material adverse effect on SoCalGas’ and Sempra Energy’s cash flows, financial condition and results of operations. Sempra Mexico Property Disputes and Permit Challenges Energía Costa Azul. Sempra Mexico has been engaged in a long-running land dispute relating to property adjacent to its ECA LNG terminal near Ensenada, Mexico. A claimant to the adjacent property filed complaints in the federal Agrarian Court challenging the refusal of SEDATU in 2006 to issue a title to him for the disputed property. In November 2013, the federal Agrarian Court ordered that SEDATU issue the requested title and cause it to be registered. Both SEDATU and Sempra Mexico challenged the ruling, due to lack of notification of the underlying process. Both challenges are pending to be resolved by a Federal Court in Mexico. Sempra Mexico expects additional proceedings regarding the claims. Several administrative challenges are pending in Mexico before the Mexican environmental protection agency and the Federal Tax and Administrative Courts seeking revocation of the environmental impact authorization issued to ECA in 2003. These cases generally allege that the conditions and mitigation measures in the environmental impact authorization are inadequate and challenge findings that the activities of the terminal are consistent with regional development guidelines. Additionally, in August 2018, a claimant filed a challenge in the federal district court in Ensenada, Baja California in relation to the environmental and social impact permits issued to ECA in September 2017 and December 2017, respectively, to allow natural gas liquefaction activities at the ECA LNG terminal. The court issued a provisional injunction on September 28, 2018 that has uncertain application and requires clarification by the court, which is being pursued through additional proceedings. In December 2018, the relevant Mexican regulators approved the requested modifications to the permits to allow natural gas liquefaction activities at the ECA LNG terminal. Cases involving t wo parcels of real property have been filed against ECA. In one case, filed in the federal Agrarian Court in 2006, the plaintiffs seek to annul the recorded property title for a parcel on which the ECA LNG terminal is situated and to obtain possession of a different parcel that allegedly sits in the same place. Another civil complaint filed in the state court was served in April 2012 seeking to invalidate the contract by which ECA purchased another of the terminal parcels, on the grounds the purchase price was unfair; the plaintiff filed a second complaint in 2013 in the federal Agrarian Court seeking an order that SEDATU issue title to her. In January 2016, the federal Agrarian Court ruled against the plaintiff, and the plaintiff appealed the ruling. In May 2018, the state court dismissed the civil complaint, and the plaintiff has appealed. Sempra Mexico expects further proceedings on these two matters. Guaymas-El Oro Segment of the Sonora Pipeline. IEnova’s Sonora natural gas pipeline consists of two segments, the Sasabe-Puerto Libertad-Guaymas segment, and the Guaymas-El Oro segment. Each segment has its own service agreement with the CFE. In 2015, the Yaqui tribe, with the exception of some members living in the Bácum community, granted its consent and a right-of-way easement agreement for the constr |
SEGMENT INFORMATION
SEGMENT INFORMATION | 12 Months Ended |
Dec. 31, 2018 | |
Segment Reporting [Abstract] | |
Segment Information | SEGMENT INFORMATION We have seven separately managed reportable segments, as follows: ▪ SDG&E provides electric service to San Diego and southern Orange counties and natural gas service to San Diego County. ▪ SoCalGas is a natural gas distribution utility, serving customers throughout most of Southern California and part of central California. ▪ Sempra Texas Utility holds our investment in Oncor Holdings, which owns an 80.25 -percent interest in Oncor, a regulated electric transmission and distribution utility serving customers in the north-central, eastern and western parts of Texas. As we discuss in Note 5 , we completed our acquisition of the investment in March 2018. ▪ Sempra South American Utilities develops, owns and operates, or holds interests in, electric transmission, distribution and generation infrastructure in Chile and Peru. In January 2019, our board of directors approved a plan to sell our South American businesses. We expect to complete the sales process by the end of 2019. ▪ Sempra Mexico develops, owns and operates, or holds interests in, natural gas, electric, LNG, LPG, ethane and liquid fuels infrastructure, and has marketing operations for the purchase of LNG and the purchase and sale of natural gas in Mexico. ▪ Sempra Renewables develops, owns and operates, or holds interests in, wind and solar power generation facilities serving wholesale electricity markets in the U.S. As we discuss in Note 5 , in June 2018, our board of directors approved a plan to market and sell all the segment’s wind assets and investments and solar assets and investments. In December 2018, Sempra Renewables completed the sale of all its operating solar assets, solar and battery storage development projects and one wind generation facility. In February 2019, Sempra Renewables entered into an agreement to sell its remaining wind assets and investments. We expect to complete the sale in the second quarter of 2019. ▪ Sempra LNG & Midstream develops, owns and operates, or holds interests in, terminals for the import and export of LNG and sale of natural gas, and natural gas pipelines, storage facilities and marketing operations, all within the U.S. As we discuss in Note 5 , in June 2018, our board of directors approved a plan to market and sell our natural gas storage assets at Mississippi Hub and our 90.9 -percent ownership interest in Bay Gas. In February 2019, Sempra LNG & Midstream completed the sale of these assets. We evaluate each segment’s performance based on its contribution to Sempra Energy’s reported earnings and cash flows. The California Utilities operate in essentially separate service territories, under separate regulatory frameworks and rate structures set by the CPUC. The California Utilities’ operations are based on rates set by the CPUC and the FERC. We describe the accounting policies of all of our segments in Note 1 . The cost of common services shared by the business segments is assigned directly or allocated based on various cost factors, depending on the nature of the service provided. Interest income and expense is recorded on intercompany loans. The loan balances and related interest are eliminated in consolidation. The following tables show selected information by segment from our Consolidated Statements of Operations and Consolidated Balance Sheets. We provide information about our equity method investments by segment in Note 6 . Amounts labeled as “All other” in the following tables consist primarily of activities of parent organizations. SEGMENT INFORMATION (Dollars in millions) Years ended December 31, 2018 2017 2016 REVENUES SDG&E $ 4,568 $ 4,476 $ 4,253 SoCalGas 3,962 3,785 3,471 Sempra South American Utilities 1,585 1,567 1,556 Sempra Mexico 1,376 1,196 725 Sempra Renewables 124 94 34 Sempra LNG & Midstream 472 540 508 Adjustments and eliminations (3 ) (1 ) — Intersegment revenues (1) (397 ) (450 ) (364 ) Total $ 11,687 $ 11,207 $ 10,183 INTEREST EXPENSE SDG&E $ 221 $ 203 $ 195 SoCalGas 115 102 97 Sempra South American Utilities 40 38 38 Sempra Mexico 120 97 13 Sempra Renewables 19 15 4 Sempra LNG & Midstream 21 39 43 All other 496 284 282 Intercompany eliminations (107 ) (119 ) (119 ) Total $ 925 $ 659 $ 553 INTEREST INCOME SDG&E $ 4 $ — $ — SoCalGas 2 1 1 Sempra South American Utilities 31 28 21 Sempra Mexico 65 23 6 Sempra Renewables 12 7 5 Sempra LNG & Midstream 49 56 71 All other 14 — — Intercompany eliminations (73 ) (69 ) (78 ) Total $ 104 $ 46 $ 26 DEPRECIATION AND AMORTIZATION SDG&E $ 688 $ 670 $ 646 SoCalGas 556 515 476 Sempra South American Utilities 58 54 49 Sempra Mexico 175 156 77 Sempra Renewables 27 38 6 Sempra LNG & Midstream 26 42 47 All other 19 15 11 Total $ 1,549 $ 1,490 $ 1,312 INCOME TAX EXPENSE (BENEFIT) SDG&E $ 173 $ 155 $ 280 SoCalGas 92 160 143 Sempra South American Utilities 95 80 80 Sempra Mexico 185 227 188 Sempra Renewables 71 (226 ) (38 ) Sempra LNG & Midstream (435 ) (119 ) (80 ) All other (85 ) 999 (184 ) Total $ 96 $ 1,276 $ 389 SEGMENT INFORMATION (CONTINUED) (Dollars in millions) Years ended December 31 or at December 31, 2018 2017 2016 EARNINGS (LOSSES) ATTRIBUTABLE TO COMMON SHARES SDG&E $ 669 $ 407 $ 570 SoCalGas (2) 400 396 349 Sempra Texas Utility 371 — — Sempra South American Utilities 199 186 156 Sempra Mexico 237 169 463 Sempra Renewables 328 252 55 Sempra LNG & Midstream (617 ) 150 (107 ) All other (2) (663 ) (1,304 ) (116 ) Total $ 924 $ 256 $ 1,370 EXPENDITURES FOR PROPERTY, PLANT & EQUIPMENT SDG&E $ 1,542 $ 1,555 $ 1,399 SoCalGas 1,538 1,367 1,319 Sempra South American Utilities 240 244 194 Sempra Mexico 368 248 330 Sempra Renewables 51 497 835 Sempra LNG & Midstream 31 20 117 All other 14 18 20 Total $ 3,784 $ 3,949 $ 4,214 ASSETS SDG&E $ 19,225 $ 17,844 $ 17,719 SoCalGas 15,389 14,159 13,424 Sempra Texas Utility 9,652 — — Sempra South American Utilities 4,107 4,060 3,591 Sempra Mexico 9,165 8,554 7,542 Sempra Renewables 2,549 2,898 3,644 Sempra LNG & Midstream 4,060 4,872 5,564 All other 731 915 475 Intersegment receivables (4,240 ) (2,848 ) (4,173 ) Total $ 60,638 $ 50,454 $ 47,786 GEOGRAPHIC INFORMATION Long-lived assets (3) : United States $ 40,611 $ 31,487 $ 28,351 Mexico 5,800 5,363 4,814 South America 2,374 2,180 1,863 Total $ 48,785 $ 39,030 $ 35,028 Revenues (4) : United States $ 8,840 $ 8,547 $ 8,004 South America 1,585 1,567 1,556 Mexico 1,262 1,093 623 Total $ 11,687 $ 11,207 $ 10,183 (1) Revenues for reportable segments include intersegment revenues of $4 million , $64 million , $114 million and $215 million for 2018 , $7 million , $74 million , $103 million , and $266 million for 2017 , and $6 million , $76 million , $102 million and $180 million for 2016 for SDG&E, SoCalGas, Sempra Mexico and Sempra LNG & Midstream, respectively. (2) After preferred dividends. (3) Includes net PP&E and investments. (4) |
QUARTERLY FINANCIAL DATA (UNAUD
QUARTERLY FINANCIAL DATA (UNAUDITED) | 12 Months Ended |
Dec. 31, 2018 | |
Quarterly Financial Data [Abstract] | |
Quarterly Financial Data (Unaudited) | QUARTERLY FINANCIAL DATA (UNAUDITED) We provide quarterly financial information for Sempra Energy Consolidated, SDG&E and SoCalGas below: SEMPRA ENERGY (In millions, except per share amounts) Quarters ended March 31 June 30 September 30 December 31 2018: Revenues $ 2,962 $ 2,564 $ 2,940 $ 3,221 Expenses and other income $ 2,295 $ 3,673 $ 2,513 $ 2,160 Net income (loss) $ 358 $ (530 ) $ 334 $ 964 Earnings (losses) attributable to common shares $ 347 $ (561 ) $ 274 $ 864 Basic per-share amounts (1) : Net income (loss) $ 1.39 $ (1.99 ) $ 1.22 $ 3.51 Earnings (losses) attributable to common shares $ 1.34 $ (2.11 ) $ 1.00 $ 3.15 Weighted-average common shares outstanding 257.9 265.8 273.9 274.3 Diluted per-share amounts (1)(2) : Net income (loss) $ 1.38 $ (1.99 ) $ 1.21 $ 3.25 Earnings (losses) attributable to common shares (3) $ 1.33 $ (2.11 ) $ 0.99 $ 3.03 Weighted-average common shares outstanding 259.5 265.8 275.9 296.4 2017: Revenues $ 3,031 $ 2,533 $ 2,679 $ 2,964 Expenses and other income (4) $ 2,279 $ 2,136 $ 2,674 $ 2,567 Net income (loss) $ 452 $ 248 $ 102 $ (451 ) Earnings (losses) attributable to common shares $ 441 $ 259 $ 57 $ (501 ) Basic per-share amounts (1) : Net income (loss) $ 1.80 $ 0.99 $ 0.41 $ (1.80 ) Earnings (losses) attributable to common shares $ 1.76 $ 1.03 $ 0.23 $ (1.99 ) Weighted-average common shares outstanding 251.1 251.4 251.7 251.9 Diluted per-share amounts (1)(2) : Net income (loss) $ 1.79 $ 0.98 $ 0.41 $ (1.80 ) Earnings (losses) attributable to common shares $ 1.75 $ 1.03 $ 0.22 $ (1.99 ) Weighted-average common shares outstanding 252.2 252.8 253.4 251.9 (1) EPS is computed independently for each of the quarters and therefore may not sum to the total for the year. (2) In the quarters ended June 30, 2018 and December 31, 2017, the total weighted-average potentially dilutive securities were not included in the computation of losses per common share since to do so would have decreased the loss per share. (3) Due to the dilutive effect of the mandatory convertible preferred stock in the quarter ended December 31, 2018, the numerator used to calculate diluted EPS included an add-back of $36 million of mandatory convertible preferred stock dividends declared in that quarter. (4) Amount reflects a reclassification of equity earnings to conform to current year presentation, which we discuss in Note 1. In June 2018, we recorded impairment charges totaling $1.5 billion ( $900 million after tax and NCI), which included $1.3 billion ( $755 million after tax and NCI) at Sempra LNG & Midstream and $200 million ( $145 million after tax) at Sempra Renewables. In December 2018, we reduced the impairment charge at Sempra LNG & Midstream by $183 million ( $126 million after tax and NCI). We discuss the impairments in Notes 5 and 12 . In December 2018, we completed the sale of our U.S. operating solar assets, solar and battery storage development projects, as well as an interest in one wind facility, and recognized a pretax gain on sale of $513 million ( $367 million after tax). We discuss the sale and related gain in Note 5 . In September 2018, we impaired our remaining equity method investment in RBS Sempra Commodities by recording a charge of $65 million in Equity Earnings. We discuss matters related to RBS Sempra Commodities further in Note 16 . In December 2017, Sempra Energy’s income tax expense included $870 million related to the impact of the TCJA, as we discuss in Note 8 . In September 2017, SDG&E recognized a charge of $351 million ( $208 million after tax) for the write-off of its wildfire regulatory asset, which we discuss in Note 16 . In June 2017, Sempra Mexico recognized an impairment charge of $71 million ( $47 million after NCI) related to assets that were previously held for sale at TdM. We discuss the impairment in Notes 5 and 12 . SDG&E (Dollars in millions) Quarters ended March 31 June 30 September 30 December 31 2018: Operating revenues $ 1,055 $ 1,051 $ 1,299 $ 1,163 Operating expenses 807 836 999 916 Operating income $ 248 $ 215 $ 300 $ 247 Net income $ 169 $ 146 $ 216 $ 145 Losses (earnings) attributable to noncontrolling interest 1 — (11 ) 3 Earnings attributable to common shares $ 170 $ 146 $ 205 $ 148 2017: Operating revenues $ 1,057 $ 1,058 $ 1,236 $ 1,125 Operating expenses (1) 783 821 1,294 869 Operating income (loss) (1) $ 274 $ 237 $ (58 ) $ 256 Net income (loss) $ 157 $ 153 $ (19 ) $ 130 (Earnings) losses attributable to noncontrolling interest (2 ) (4 ) (9 ) 1 Earnings (losses) attributable to common shares $ 155 $ 149 $ (28 ) $ 131 (1) As adjusted for the retrospective adoption of ASU 2017-07, which we discuss in Note 2 . SOCALGAS (Dollars in millions) Quarters ended March 31 June 30 September 30 December 31 2018: Operating revenues $ 1,126 $ 772 $ 802 $ 1,262 Operating expenses 848 703 797 1,023 Operating income $ 278 $ 69 $ 5 $ 239 Net income (loss) $ 225 $ 34 $ (14 ) $ 156 Dividends on preferred stock — (1 ) — — Earnings (losses) attributable to common shares $ 225 $ 33 $ (14 ) $ 156 2017: Operating revenues $ 1,241 $ 770 $ 684 $ 1,090 Operating expenses (1) 929 690 679 860 Operating income (1) $ 312 $ 80 $ 5 $ 230 Net income $ 203 $ 59 $ 7 $ 128 Dividends on preferred stock — (1 ) — — Earnings attributable to common shares $ 203 $ 58 $ 7 $ 128 (1) As adjusted for the retrospective adoption of ASU 2017-07, which we discuss in Note 2 . |
SCHEDULE I - CONDENSED FINANCIA
SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF PARENT | 12 Months Ended |
Dec. 31, 2018 | |
Condensed Financial Information Disclosure [Abstract] | |
Schedule I - Condensed Financial Information of Parent | SEMPRA ENERGY CONDENSED STATEMENTS OF OPERATIONS (Dollars in millions, except per share amounts) Years ended December 31, 2018 2017 (1) 2016 (1) Interest income $ 14 $ — $ — Interest expense (495 ) (293 ) (277 ) Operating expenses (82 ) (80 ) (76 ) Other (expense) income, net (16 ) 100 (7 ) Income tax benefit 154 33 181 Loss before equity in earnings of subsidiaries (425 ) (240 ) (179 ) Equity in earnings of subsidiaries, net of income taxes 1,474 496 1,549 Net income 1,049 256 1,370 Mandatory convertible preferred stock dividends (125 ) — — Earnings $ 924 $ 256 $ 1,370 Basic earnings per common share $ 3.45 $ 1.02 $ 5.48 Weighted-average shares outstanding, basic (thousands) 268,072 251,545 250,217 Diluted earnings per common share $ 3.42 $ 1.01 $ 5.46 Weighted-average shares outstanding, diluted (thousands) 269,852 252,300 251,155 (1) As adjusted for the retrospective adoption of ASU 2017-07, which we discuss in Note 2. SEMPRA ENERGY CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Dollars in millions) Years ended December 31, 2018, 2017 and 2016 Pretax amount Income tax benefit (expense) Net-of-tax amount 2018: Net income $ 895 $ 154 $ 1,049 Other comprehensive income (loss): Foreign currency translation adjustments (144 ) — (144 ) Financial instruments 64 (21 ) 43 Pension and other postretirement benefits (38 ) 4 (34 ) Total other comprehensive loss (118 ) (17 ) (135 ) Comprehensive income $ 777 $ 137 $ 914 2017: Net income $ 223 $ 33 $ 256 Other comprehensive income (loss): Foreign currency translation adjustments 107 — 107 Financial instruments 2 1 3 Pension and other postretirement benefits 20 (8 ) 12 Total other comprehensive income 129 (7 ) 122 Comprehensive income $ 352 $ 26 $ 378 2016: Net income $ 1,189 $ 181 $ 1,370 Other comprehensive income (loss): Foreign currency translation adjustments 42 — 42 Financial instruments (6 ) 11 5 Pension and other postretirement benefits (13 ) 4 (9 ) Total other comprehensive income 23 15 38 Comprehensive income $ 1,212 $ 196 $ 1,408 SEMPRA ENERGY CONDENSED BALANCE SHEETS (Dollars in millions) December 31, December 31, Assets: Cash and cash equivalents $ 14 $ 104 Due from affiliates 93 83 Income taxes receivable 397 272 Other current assets 9 6 Total current assets 513 465 Investments in subsidiaries 28,778 17,924 Due from affiliates 3 2 Deferred income taxes 1,554 1,802 Other assets 572 656 Total assets $ 31,420 $ 20,849 Liabilities and shareholders’ equity: Current portion of long-term debt $ 1,498 $ 500 Due to affiliates 287 280 Other current liabilities 527 396 Total current liabilities 2,312 1,176 Long-term debt 9,647 6,198 Due to affiliates 1,812 300 Other long-term liabilities 511 505 Commitments and contingencies (Note 4) Shareholders’ equity 17,138 12,670 Total liabilities and shareholders’ equity $ 31,420 $ 20,849 SEMPRA ENERGY CONDENSED STATEMENTS OF CASH FLOWS (Dollars in millions) Years ended December 31, 2018 2017 2016 Net cash provided by (used in) operating activities $ 213 $ 89 $ (3 ) Expenditures for property, plant and equipment (11 ) (11 ) (5 ) Expenditures for acquisition (329 ) — — Capital contributions to investees (9,457 ) — — (Increase) decrease in loans to affiliates, net (1 ) — 457 Expenditures for Merger-related costs — (12 ) — Net cash (used in) provided by investing activities (9,798 ) (23 ) 452 Common stock dividends paid (877 ) (755 ) (686 ) Preferred dividends paid (89 ) — — Issuances of mandatory convertible preferred stock, net of $42 in offering costs in 2018 2,258 — — Issuances of common stock, net of $41 in offering costs in 2018 2,272 47 51 Repurchases of common stock (21 ) (15 ) (56 ) Issuances of long-term debt 4,969 1,595 499 Payments on long-term debt (500 ) (600 ) (750 ) Increase (decrease) in loans from affiliates, net 1,520 (239 ) 504 Debt issuance costs (37 ) (7 ) (3 ) Net cash provided by (used in) financing activities 9,495 26 (441 ) (Decrease) increase in cash and cash equivalents (90 ) 92 8 Cash and cash equivalents, January 1 104 12 4 Cash and cash equivalents, December 31 $ 14 $ 104 $ 12 SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES Accrued Merger-related transaction costs $ — $ 31 $ — Preferred dividends declared but not paid 36 — — Common dividends issued in stock 54 53 53 Common dividends declared but not paid 245 207 189 The condensed financial information of Sempra Energy has been prepared in accordance with SEC Regulation S-X Rule 5-04 and Rule 12-04. We apply the same accounting policies as in the financial statements of Sempra Energy Consolidated, except that Sempra Energy accounts for the earnings of its subsidiaries under the equity method in this unconsolidated financial information. Other Income, Net, on the Condensed Statements of Operations includes: ▪ $(6) million , $56 million and $23 million of (losses) gains on dedicated assets in support of our executive retirement and deferred compensation plans in 2018, 2017 and 2016, respectively; and ▪ $3 million , $50 million and $(28) million net gains (losses) primarily from the settlement of foreign currency derivatives to hedge Sempra Mexico parent’s exposure to movements in the Mexican peso from its controlling interest in IEnova in 2018, 2017 and 2016, respectively. Additional information on Sempra Energy’s foreign currency derivatives is provided in Note 11 We describe below and in Note 2 of the Notes to Consolidated Financial Statements recent pronouncements that have had a significant effect on Sempra Energy’s financial condition, results of operations, cash flows or disclosures. Additional information on ASU 2018-05 and ASU 2018-14, which may also have a significant effect on Sempra Energy’s financial condition, results of operation, cash flows or disclosures, is provided in Note 2 of the Notes to Consolidated Financial Statements. ASU 2016-02, “Leases,” ASU 2018-10, “Codification Improvements to Topic 842, Leases” and ASU 2018-11, “Leases (Topic 842): Targeted Improvements” (collectively referred to as the “lease standard”): We will adopt the lease standard on January 1, 2019 using the optional transition method to apply the new guidance prospectively as of January 1, 2019, rather than as of the earliest period presented. The adoption of the lease standard will have a material impact on our balance sheet at January 1, 2019 due to the initial recognition of ROU assets and lease liabilities for operating leases. The following table shows the expected increase (decrease) from adoption of the lease standard on our balance sheet at January 1, 2019. EXPECTED IMPACT FROM ADOPTION OF THE LEASE STANDARD (Dollars in millions) Right-of-use assets – operating leases $ 191 Deferred income taxes (3 ) Property, plant and equipment, net (1) (147 ) Other current liabilities 3 Long-term debt (138 ) Other long-term liabilities 159 Retained earnings (2) 17 (1) Included in Other Assets. (2) Included in Shareholders’ Equity. As a result of the adoption of the lease standard, we will derecognize our corporate headquarters building lease in accordance with the transition provisions for build-to-suit arrangements. On a prospective basis, we will account for the corporate headquarters building lease as an operating lease. The expected impact is included in the above table. ASU 2017-07, “Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost”: We adopted the standard on January 1, 2018 and elected the practical expedient available under the transition guidance. Upon adoption of ASU 2017-07, our Condensed Statements of Operations were impacted as follows: IMPACT FROM ADOPTION OF ASU 2017-07 (Dollars in millions) Years ended December 31, 2017 2016 As previously reported Effect of adoption As adjusted As previously reported Effect of adoption As adjusted Sempra Energy: Operation and maintenance $ (87 ) $ 7 $ (80 ) $ (81 ) $ 5 $ (76 ) Other income (expense), net 107 (7 ) 100 (2 ) (5 ) (7 ) ASU 2018-02, “Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income”: We will adopt ASU 2018-02 on January 1, 2019 and will reclassify the income tax effects of the TCJA from AOCI to retained earnings. We expect the impact from adoption of ASU 2018-02 on January 1, 2019 to be an increase of $14 million The following table shows the detail and maturities of long-term debt outstanding: LONG-TERM DEBT (Dollars in millions) December 31, 2018 2017 6.15% Notes June 15, 2018 $ — $ 500 9.8% Notes February 15, 2019 500 500 Notes at variable rates (2.69% at December 31, 2018) July 15, 2019 500 — 1.625% Notes October 7, 2019 500 500 2.4% Notes February 1, 2020 500 — 2.4% Notes March 15, 2020 500 500 2.85% Notes November 15, 2020 400 400 Notes at variable rates (2.94% at December 31, 2018) January 15, 2021 (1) 700 — Notes at variable rates (3.24% at December 31, 2018) March 15, 2021 850 850 2.875% Notes October 1, 2022 500 500 2.9% Notes February 1, 2023 500 — 4.05% Notes December 1, 2023 500 500 3.55% Notes June 15, 2024 500 500 3.75% Notes November 15, 2025 350 350 3.25% Notes June 15, 2027 750 750 3.4% Notes February 1, 2028 1,000 — 3.8% Notes February 1, 2038 1,000 — 6% Notes October 15, 2039 750 750 4% Notes February 1, 2048 800 — Fair value adjustments for interest rate swaps, net — (1 ) Build-to-suit lease 138 138 11,238 6,737 Current portion of long-term debt (1,498 ) (500 ) Unamortized discount on long-term debt (38 ) (13 ) Unamortized debt issuance costs (55 ) (26 ) Total long-term debt $ 9,647 $ 6,198 (1) Callable long-term debt not subject to make-whole provisions. Excluding the build-to-suit lease and market value adjustments for interest rate swaps, maturities of long-term debt are $1.5 billion in 2019, $1.4 billion in 2020, $1.5 billion in 2021, $500 million in 2022, $1 billion in 2023 and $5.2 billion thereafter. Additional information on Sempra Energy’s long-term debt is provided in Note 7 For contingencies and guarantees related to Sempra Energy, refer to Notes 5 , 6 and 16 |
SIGNIFICANT ACCOUNTING POLICI_2
SIGNIFICANT ACCOUNTING POLICIES AND OTHER FINANCIAL DATA (Policies) | 12 Months Ended |
Dec. 31, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Principles of Consolidation and Basis of Presentation | PRINCIPLES OF CONSOLIDATION Sempra Energy Sempra Energy’s Consolidated Financial Statements include the accounts of Sempra Energy, a California-based Fortune 500 energy-services holding company, and its consolidated subsidiaries and VIEs. Sempra Global is the holding company for most of our subsidiaries that are not subject to California or Texas utility regulation. Sempra Energy’s businesses are managed within seven separate reportable segments, which we discuss in Note 17 . All references in these Notes to our reportable segments are not intended to refer to any legal entity with the same or similar name. Our Sempra Mexico segment includes the operating companies of our subsidiary, IEnova, as well as certain holding companies and risk management activity. IEnova is a separate legal entity comprised of Sempra Energy’s operations in Mexico. IEnova is included within our Sempra Mexico reportable segment, but is not the same in its entirety as the reportable segment. IEnova’s financial results are reported in Mexico under International Financial Reporting Standards, as required by the Mexican Stock Exchange, where its shares are traded under the symbol IENOVA. Sempra Energy uses the equity method to account for investments in companies over which we have the ability to exercise significant influence, but not control. We discuss our investments in unconsolidated entities in Notes 5 , 6 and 12 . SDG&E SDG&E’s Consolidated Financial Statements include its accounts and the accounts of a VIE of which SDG&E is the primary beneficiary, as we discuss below in “Variable Interest Entities.” SDG&E’s common stock is wholly owned by Enova, which is a wholly owned subsidiary of Sempra Energy. SoCalGas SoCalGas’ common stock is wholly owned by PE, which is a wholly owned subsidiary of Sempra Energy. In this report, we refer to SDG&E and SoCalGas collectively as the California Utilities. BASIS OF PRESENTATION This is a combined report of Sempra Energy, SDG&E and SoCalGas. We provide separate information for SDG&E and SoCalGas as required. References in this report to “we,” “our” and “Sempra Energy Consolidated” are to Sempra Energy and its consolidated entities, unless otherwise indicated by the context. We have eliminated intercompany accounts and transactions within the consolidated financial statements of each reporting entity. Throughout this report, we refer to the following as Consolidated Financial Statements and Notes to Consolidated Financial Statements when discussed together or collectively: ▪ the Consolidated Financial Statements and related Notes of Sempra Energy and its subsidiaries and VIEs; ▪ the Consolidated Financial Statements and related Notes of SDG&E and its VIE; and ▪ |
Reclassification on the Consolidated Statements of Operations | Reclassification on the Consolidated Statements of Operations We have made a reclassification on the Consolidated Statements of Operations for the years ended December 31, 2017 and 2016 |
Use of Estimates in the Preparation of the Financial Statements | Use of Estimates in the Preparation of the Financial StatementsWe have prepared our Consolidated Financial Statements in conformity with U.S. GAAP. This requires us to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes, including the disclosure of contingent assets and liabilities at the date of the financial statements. Although we believe the estimates and assumptions are reasonable, actual amounts ultimately may differ significantly from those estimates. |
Subsequent Events | Subsequent Events We evaluated events and transactions that occurred after December 31, 2018 |
Effects of Regulation | EFFECTS OF REGULATION The California Utilities’ accounting policies and financial statements reflect the application of U.S. GAAP provisions governing rate-regulated operations and the policies of the CPUC and the FERC. Under these provisions, a regulated utility records regulatory assets, which are generally costs that would otherwise be charged to expense, if it is probable that, through the ratemaking process, the utility will recover those assets from customers. To the extent that recovery is no longer probable, the related regulatory assets are written off. Regulatory liabilities generally represent amounts collected from customers in advance of the actual expenditure by the utility. If the actual expenditures are less than amounts previously collected from ratepayers, the excess would be refunded to customers, generally by reducing future rates. Regulatory liabilities may also arise from other transactions such as unrealized gains on fixed price contracts and other derivatives or certain deferred income tax benefits that are passed through to customers in future rates. In addition, the California Utilities record regulatory liabilities when the CPUC or the FERC requires a refund to be made to customers or has required that a gain or other transaction of net allowable costs be given to customers over future periods. Determining probability of recovery of regulatory assets requires significant judgment by management and may include, but is not limited to, consideration of: ▪ the nature of the event giving rise to the assessment; ▪ existing statutes and regulatory code; ▪ legal precedents; ▪ regulatory principles and analogous regulatory actions; ▪ testimony presented in regulatory hearings; ▪ regulatory orders; ▪ a commission-authorized mechanism established for the accumulation of costs; ▪ status of applications for rehearings or state court appeals; ▪ specific approval from a commission; and ▪ historical experience . Sempra Mexico’s natural gas distribution utility, Ecogas, also applies U.S. GAAP for rate-regulated utilities to its operations, including the same evaluation of probability of recovery of regulatory assets described above. We provide information concerning regulatory assets and liabilities in Note 4 . Our Sempra Texas Utility segment is comprised of our equity method investment in Oncor Holdings, which owns 80.25 percent of Oncor, as we discuss in Notes 5 and 6 . Oncor is a regulated electric transmission and distribution utility in the State of Texas. Oncor’s rates are regulated by the PUCT and certain cities and are subject to regulatory rate-setting processes and annual earnings oversight. Oncor prepares its financial statements in accordance with the provisions of U.S. GAAP governing rate-regulated operations. Sempra South American Utilities has controlling interests in two electric distribution utilities in South America, Chilquinta Energía in Chile and Luz del Sur in Peru, and their subsidiaries. Revenues are based on tariffs that are set by government agencies in their respective countries based on an efficient model distribution company defined by those agencies. Because the tariffs are based on a model and are intended to cover the costs of the model company, but are not based on the costs of the specific utility and may not result in full cost recovery, these utilities do not meet the requirements necessary for, and therefore do not apply, regulatory accounting treatment under U.S. GAAP. |
Fair Value Measurements | FAIR VALUE MEASUREMENTS We measure certain assets and liabilities at fair value on a recurring basis, primarily nuclear decommissioning and benefit plan trust assets and derivatives. We also measure certain assets at fair value on a non-recurring basis in certain circumstances. These assets can include goodwill, intangible assets, equity method investments and other long-lived assets. “Fair value” is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). A fair value measurement reflects the assumptions market participants would use in pricing an asset or liability based on the best available information. These assumptions include the risk inherent in a particular valuation technique (such as a pricing model) and the risks inherent in the inputs to the model. Also, we consider an issuer’s credit standing when measuring its liabilities at fair value. We establish a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurement) and the lowest priority to unobservable inputs (Level 3 measurement). The three levels of the fair value hierarchy are as follows: Level 1 – Pricing inputs are unadjusted quoted prices available in active markets for identical assets or liabilities as of the reporting date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Our Level 1 financial instruments primarily consist of listed equities and U.S. government treasury securities, primarily in the NDT and benefit plan trusts, and exchange-traded derivatives. Level 2 – Pricing inputs are other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date. Level 2 includes those financial instruments that are valued using models or other valuation methodologies. These models are primarily industry-standard models that consider various assumptions, including: ▪ quoted forward prices for commodities; ▪ time value; ▪ current market and contractual prices for the underlying instruments; ▪ volatility factors; and ▪ other relevant economic measures. Substantially all of these assumptions are observable in the marketplace throughout the full term of the instrument, can be derived from observable data or are supported by observable levels at which transactions are executed in the marketplace. Our financial instruments in this category include listed equities, domestic corporate bonds, municipal bonds and other foreign bonds, primarily in the NDT and benefit plan trusts, and non-exchange-traded derivatives such as interest rate instruments and over-the-counter forwards and options. Level 3 The three tables below, by level within the fair value hierarchy, set forth our financial assets and liabilities that were accounted for at fair value on a recurring basis at December 31, 2018 and 2017 . We classify financial assets and liabilities in their entirety based on the lowest level of input that is significant to the fair value measurement. Our assessment of the significance of a particular input to the fair value measurement requires judgment, and may affect the valuation of fair value assets and liabilities, and their placement within the fair value hierarchy. The fair value of commodity derivative assets and liabilities is presented in accordance with our netting policy, as we discuss in Note 11 in “Financial Statement Presentation.” The determination of fair values, shown in the tables below, incorporates various factors, including but not limited to, the credit standing of the counterparties involved and the impact of credit enhancements (such as cash deposits, letters of credit and priority interests). Our financial assets and liabilities that were accounted for at fair value on a recurring basis in the tables below include the following (other than a $10 million investment at December 31, 2018 measured at NAV): ▪ Nuclear decommissioning trusts reflect the assets of SDG&E’s NDT, excluding cash balances. A third party trustee values the trust assets using prices from a pricing service based on a market approach. We validate these prices by comparison to prices from other independent data sources. Securities are valued using quoted prices listed on nationally recognized securities exchanges or based on closing prices reported in the active market in which the identical security is traded (Level 1). Other securities are valued based on yields that are currently available for comparable securities of issuers with similar credit ratings (Level 2). ▪ For commodity contracts, interest rate derivatives and foreign exchange instruments, we primarily use a market approach with market participant assumptions to value these derivatives. Market participant assumptions include those about risk, and the risk inherent in the inputs to the valuation techniques. These inputs can be readily observable, market corroborated, or generally unobservable. We have exchange-traded derivatives that are valued based on quoted prices in active markets for the identical instruments (Level 1). We also may have other commodity derivatives that are valued using industry standard models that consider quoted forward prices for commodities, time value, current market and contractual prices for the underlying instruments, volatility factors, and other relevant economic measures (Level 2). Level 3 recurring items relate to CRRs and long-term, fixed-price electricity positions at SDG&E, as we discuss below in “Level 3 Information.” ▪ Rabbi Trust investments include marketable securities that we value using a market approach based on closing prices reported in the active market in which the identical security is traded (Level 1). These investments in marketable securities were negligible at both December 31, 2018 and 2017 |
Cash and Cash Equivalents and Restricted Cash | CASH AND CASH EQUIVALENTSCash equivalents are highly liquid investments with original maturities of three months or less at the date of purchase. |
Collection Allowances | COLLECTION ALLOWANCESWe record allowances for the collection of trade and other accounts and notes receivable, which include allowances for doubtful customer accounts and for other receivables.We evaluate accounts receivable collectability using a combination of factors, including past due status based on contractual terms, trends in write-offs, the age of the receivable, counterparty creditworthiness, economic conditions and specific events, such as bankruptcies. Adjustments to collection allowances are made when necessary based on the results of analysis, the aging of receivables, and historical and industry trends.We write off accounts receivable in the period in which we deem the receivable to be uncollectible. We record recoveries of accounts receivable previously written off when it is known that they will be received. |
Inventories | INVENTORIES The California Utilities value natural gas inventory using the LIFO method. As inventories are sold, differences between the LIFO valuation and the estimated replacement cost are reflected in customer rates. These differences are generally temporary, but may become permanent if the natural gas inventory withdrawn from storage during the year is not replaced by year end. The California Utilities generally value materials and supplies at the lower of average cost or net realizable value. |
Income Taxes | INCOME TAXES Income tax expense includes current and deferred income taxes. We record deferred income taxes for temporary differences between the book and the tax basis of assets and liabilities. ITCs from prior years are amortized to income by the California Utilities over the estimated service lives of the properties as required by the CPUC. At our other businesses, we reduce the book basis of the related asset by the amount of ITCs earned. At Sempra Renewables, PTCs have been recognized as income tax benefits as earned. Under the regulatory accounting treatment required for flow-through temporary differences, the California Utilities and Sempra Mexico recognize: ▪ regulatory assets to offset deferred income tax liabilities if it is probable that the amounts will be recovered from customers; and ▪ regulatory liabilities to offset deferred income tax assets if it is probable that the amounts will be returned to customers. When there are uncertainties related to potential income tax benefits, in order to qualify for recognition, the position we take has to have at least a more likely than not chance of being sustained (based on the position’s technical merits) upon challenge by the respective authorities. The term “more likely than not” means a likelihood of more than 50 percent. Otherwise, we may not recognize any of the potential tax benefit associated with the position. We recognize a benefit for a tax position that meets the more likely than not criterion at the largest amount of tax benefit that is greater than 50 percent likely of being realized upon its effective resolution. Unrecognized tax benefits involve management’s judgment regarding the likelihood of the benefit being sustained. The final resolution of uncertain tax positions could result in adjustments to recorded amounts and may affect our ETR. On December 22, 2017, the TCJA was signed into law. As a result, all cumulative undistributed earnings from non-U.S. subsidiaries were deemed repatriated and subjected to a one-time U.S. federal deemed repatriation tax. To the extent we intend to repatriate cash into the U.S., incremental U.S. state and non-U.S. withholding taxes are accrued. We currently do not record deferred income taxes for other basis differences between financial statement and income tax investment amounts in non-U.S. subsidiaries to the extent the related cumulative undistributed earnings are indefinitely reinvested. We recognize income tax expense for basis differences related to global intangible low-taxed income as a period cost if and when incurred. We provide additional information about income taxes in Note 8 The TCJA reduced the U.S. statutory corporate income tax rate from 35 percent to 21 percent , effective January 1, 2018. U.S. GAAP requires that deferred income tax assets and liabilities, including NOLs, be remeasured at the income tax rate expected to apply when those temporary differences reverse and that the effects of any change to such income tax rate be recognized in the period when the change was enacted. This remeasurement resulted in significant reductions in deferred income tax balances at Sempra Energy Consolidated, SDG&E and SoCalGas in 2017. The remeasurement of deferred income tax balances at SDG&E and SoCalGas resulted in excess deferred income taxes that previously have been collected from ratepayers at the higher rate. As we discuss in Note 4, these excess deferred income taxes have been recorded as regulatory liabilities at December 31, 2018 and 2017 and will generally be refunded to ratepayers in accordance with the IRC’s normalization provisions and as determined by the CPUC and the FERC. Certain components of deferred income taxes could be attributed to shareholders rather than ratepayers. These components include deferred income taxes generated by activities outside of ratemaking. $1 billion between financial statement and income tax investment amounts in our non-U.S. subsidiaries because we consider them to be indefinitely reinvested as of December 31, 2018. It is currently not practicable to determine the hypothetical amount of tax that might be payable if the underlying basis differences were realized. On January 25, 2019, our board of directors approved a plan to sell our South American businesses. We are evaluating the effects of the planned sale on our indefinite reinvestment assertion and expect to record any impacts to our tax provision in the first quarter of 2019. For SDG&E and SoCalGas, the CPUC requires flow-through rate-making treatment for the current income tax benefit or expense arising from certain property-related and other temporary differences between the treatment for financial reporting and income tax, which will reverse over time. Under the regulatory accounting treatment required for these flow-through temporary differences, deferred income tax assets and liabilities are not recorded to deferred income tax expense, but rather to a regulatory asset or liability, which impacts the ETR. As a result, changes in the relative size of these items compared to pretax income, from period to period, can cause variations in the ETR. The following items are subject to flow-through treatment: ▪ repairs expenditures related to a certain portion of utility plant fixed assets; ▪ the equity portion of AFUDC, which is non-taxable; ▪ a portion of the cost of removal of utility plant assets; ▪ utility self-developed software expenditures; ▪ depreciation on a certain portion of utility plant assets; and ▪ state income taxes. The AFUDC related to equity recorded for regulated construction projects at Sempra Mexico has similar flow-through treatment. The 2016 GRC FD required SDG&E and SoCalGas to each establish a two-way income tax expense memorandum account to track certain revenue variances resulting from certain differences between the income tax expense forecasted in the GRC and the income tax expense incurred from 2016 through 2018. We discuss the tracking accounts further in Note 4 . We record income tax (expense) benefit from the transactional effects of foreign currency and inflation. Such effects are partially mitigated by net gains (losses) from foreign currency derivatives that are hedging Sempra Mexico parent’s exposure to movements in the Mexican peso from its controlling interest in IEnova. |
Greenhouse Gas Allowances and Obligations and Emissions and Renewable Energy Certificates | GREENHOUSE GAS ALLOWANCES AND OBLIGATIONSThe California Utilities, Sempra Mexico and Sempra LNG & Midstream are required by California AB 32 to acquire GHG allowances for every metric ton of carbon dioxide equivalent emitted into the atmosphere during electric generation and natural gas transportation. At the California Utilities, many GHG allowances are allocated to us on behalf of our customers at no cost. We record purchased and allocated GHG allowances at the lower of weighted-average cost or market. We measure the compliance obligation, which is based on emissions, at the carrying value of allowances held plus the fair value of additional allowances necessary to satisfy the obligation. The California Utilities balance costs and revenues associated with the GHG program through regulatory balancing accounts. Sempra Mexico and Sempra LNG & Midstream record the cost of GHG obligations in cost of sales. We remove the assets and liabilities from the balance sheets as the allowances are surrendered.RENEWABLE ENERGY CERTIFICATES RECs are energy rights established by governmental agencies for the environmental and social promotion of renewable electricity generation. A REC, and its associated attributes and benefits, can be sold separately from the underlying physical electricity associated with a renewable-based generation source in certain markets. |
Property, Plant and Equipment (PP&E) | PROPERTY, PLANT AND EQUIPMENT PP&E primarily represents the buildings, equipment and other facilities used by the California Utilities to provide natural gas and electric utility services, and by the Sempra Global businesses in their operations, including construction work in progress at these segments. PP&E also includes lease improvements and other equipment at Parent and Other, as well as property acquired under a build-to-suit lease, which we discuss further in Note 16 . Our plant costs include: ▪ labor; ▪ materials and contract services; and ▪ expenditures for replacement parts incurred during a major maintenance outage of a plant. In addition, the cost of utility plant at our rate-regulated businesses and PP&E under regulated projects that meet the regulatory accounting requirements of U.S. GAAP at Sempra Mexico includes AFUDC. We discuss AFUDC below. The cost of other PP&E includes capitalized interest. Pipeline projects currently under construction by Sempra Mexico that are both subject to certain regulation and meet U.S. GAAP regulatory accounting requirements record the impact of AFUDC. |
Goodwill and Other Intangible Assets | Other Intangible Assets at December 31, 2018 primarily includes: ▪ a renewable energy transmission and consumption permit previously granted by the CRE that was acquired in connection with the acquisition of the Ventika wind power generation facilities; ▪ a favorable O&M agreement acquired in connection with the acquisition of DEN, which we discuss in Note 5 ; and ▪ Goodwil l Goodwill is the excess of the purchase price over the fair value of the identifiable net assets of acquired companies measured at the time of acquisition. Goodwill is not amortized, but we test it for impairment annually on October 1 or whenever events or changes in circumstances necessitate an evaluation. If the carrying value of the reporting unit, including goodwill, exceeds its fair value, and the book value of goodwill is greater than its fair value on the test date, we record a goodwill impairment loss. For our annual goodwill impairment testing, under current U.S. GAAP guidance we have the option to first make a qualitative assessment of whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount before applying the two-step, quantitative goodwill impairment test. If we elect to perform the qualitative assessment, we evaluate relevant events and circumstances, including but not limited to, macroeconomic conditions, industry and market considerations, cost factors, changes in key personnel and the overall financial performance of the reporting unit. If, after assessing these qualitative factors, we determine that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, then we perform the two-step goodwill impairment test. When we perform the two-step, quantitative goodwill impairment test, we exercise judgment to develop estimates of the fair value of the reporting unit and the corresponding goodwill. Our fair value estimates are developed from the perspective of a knowledgeable market participant. We consider observable transactions in the marketplace for similar investments, if available, as well as an income-based approach such as discounted cash flow analysis. A discounted cash flow analysis may be based directly on anticipated future revenues and expenses and may be performed based on free cash flows generated within the reporting unit. Critical assumptions that affect our estimates of fair value may include: ▪ consideration of market transactions; ▪ future cash flows; ▪ the appropriate risk-adjusted discount rate; ▪ country risk; and ▪ |
Long-lived Assets | LONG-LIVED ASSETS We test long-lived assets for recoverability whenever events or changes in circumstances have occurred that may affect the recoverability or the estimated useful lives of long-lived assets. Long-lived assets include intangible assets subject to amortization, but do not include investments in unconsolidated entities. Events or changes in circumstances that indicate that the carrying amount of a long-lived asset may not be recoverable may include: ▪ significant decreases in the market price of an asset; ▪ a significant adverse change in the extent or manner in which we use an asset or in its physical condition; ▪ a significant adverse change in legal or regulatory factors or in the business climate that could affect the value of an asset; ▪ a current period operating or cash flow loss combined with a history of operating or cash flow losses or a projection of continuing losses associated with the use of a long-lived asset; and ▪ a current expectation that, more likely than not, a long-lived asset will be sold or otherwise disposed of significantly before the end of its previously estimated useful life. |
Variable Interest Entities (VIE) | We consolidate a VIE if we are the primary beneficiary of the VIE. Our determination of whether we are the primary beneficiary is based upon qualitative and quantitative analyses, which assess: ▪ the purpose and design of the VIE; ▪ the nature of the VIE’s risks and the risks we absorb; ▪ the power to direct activities that most significantly impact the economic performance of the VIE; and ▪ |
Asset Retirement Obligations | ASSET RETIREMENT OBLIGATIONSFor tangible long-lived assets, we record AROs for the present value of liabilities of future costs expected to be incurred when assets are retired from service, if the retirement process is legally required and if a reasonable estimate of fair value can be made. We also record a liability if a legal obligation to perform an asset retirement exists and can be reasonably estimated, but performance is conditional upon a future event. We record the estimated retirement cost over the life of the related asset by depreciating the asset retirement cost (measured as the present value of the obligation at the time the asset is placed into service), and accreting the obligation until the liability is settled. Our rate-regulated entities, including the California Utilities, record regulatory assets or liabilities as a result of the timing difference between the recognition of costs in accordance with U.S. GAAP and costs recovered through the rate-making process. |
Contingencies | CONTINGENCIES We accrue losses for the estimated impacts of various conditions, situations or circumstances involving uncertain outcomes. For loss contingencies, we accrue the loss if an event has occurred on or before the balance sheet date and: ▪ information available through the date we file our financial statements indicates it is probable that a loss has been incurred, given the likelihood of uncertain future events; and ▪ the amount of the loss can be reasonably estimated. |
Legal Fees | LEGAL FEESLegal fees that are associated with a past event for which a liability has been recorded are accrued when it is probable that fees also will be incurred and amounts are estimable.LEGAL PROCEEDINGSWe accrue losses for a legal proceeding when it is probable that a loss has been incurred and the amount of the loss can be reasonably estimated. However, the uncertainties inherent in legal proceedings make it difficult to reasonably estimate the costs and effects of resolving these matters. Accordingly, actual costs incurred may differ materially from amounts accrued, may exceed applicable insurance coverage and could materially adversely affect our business, cash flows, results of operations, financial condition and prospects. Unless otherwise indicated, we are unable to estimate reasonably possible losses in excess of any amounts accrued. |
Comprehensive Income | COMPREHENSIVE INCOME Comprehensive income includes all changes in the equity of a business enterprise (except those resulting from investments by owners and distributions to owners), including: ▪ foreign currency translation adjustments; ▪ certain hedging activities; ▪ changes in unamortized net actuarial gain or loss and prior service cost related to pension and other postretirement benefits plans; and ▪ unrealized gains or losses on available-for-sale securities. |
Noncontrolling Interests | NONCONTROLLING INTERESTSOwnership interests that are held by owners other than Sempra Energy and SDG&E in subsidiaries or entities consolidated by them are accounted for and reported as NCI. As a result, NCI is reported as a separate component of equity on the Consolidated Balance Sheets. Earnings or losses attributable to NCI are separately identified on the Consolidated Statements of Operations, and net income or loss and comprehensive income or loss attributable to NCI are separately identified on the Consolidated Statements of Comprehensive Income (Loss) and Consolidated Statements of Changes in Equity. |
Other Cost of Sales | OTHER COST OF SALES Other Cost of Sales primarily includes: ▪ pipeline capacity costs, including the permanent release of pipeline capacity in 2016 and the associated recoveries in 2017, at Sempra LNG & Midstream; ▪ pipeline transportation and natural gas marketing costs at Sempra LNG & Midstream; ▪ electric construction services costs at Sempra South American Utilities’ energy-services companies; and ▪ |
Operation and Maintenance Expenses | OPERATION AND MAINTENANCE EXPENSESOperation and Maintenance includes O&M and general and administrative costs, consisting primarily of personnel costs, purchased materials and services, litigation expense and rent. |
Foreign Currency Translation | FOREIGN CURRENCY TRANSLATION The majority of our operations in South America as well as our natural gas distribution utility in Mexico use their local currency as their functional currency. The assets and liabilities of their foreign operations are translated into U.S. dollars at current exchange rates at the end of the reporting period, and revenues and expenses are translated at average exchange rates for the year. The resulting noncash translation adjustments do not enter into the calculation of earnings or retained earnings, but are reflected in OCI and in AOCI. |
New Accounting Standards | NEW ACCOUNTING STANDARDS We describe below recent accounting pronouncements that have had or may have a significant effect on our financial condition, results of operations, cash flows or disclosures. ASU 2014-09, “Revenue from Contracts with Customers,” ASU 2015-14, “Deferral of the Effective Date,” ASU 2016-08, “Principal versus Agent Considerations (Reporting Revenue Gross versus Net),” ASU 2016-10, “Identifying Performance Obligations and Licensing” and ASU 2016-12, “Narrow-Scope Improvements and Practical Expedients”: ASU 2014-09 adds ASC 606 to provide accounting guidance for the recognition of revenue from contracts with customers and affects all entities that enter into contracts to provide goods or services to their customers. The guidance also provides a model for the measurement and recognition of gains and losses on the sale of certain nonfinancial assets, such as property and equipment, including real estate. This guidance must be adopted using either a full retrospective approach for all periods presented in the period of adoption or a modified retrospective approach. Amending ASU 2014-09, ASU 2016-08 clarifies the implementation guidance on principal versus agent considerations, ASU 2016-10 clarifies the determination of whether a good or service is separately identifiable from other promises and revenue recognition related to licenses of intellectual property, and ASU 2016-12 provides guidance on transition, collectability, noncash consideration, and the presentation of sales and other similar taxes. The ASUs are codified in ASC 606. We adopted ASC 606 on January 1, 2018, applying the modified retrospective transition method to all contracts as of January 1, 2018 and elected to use certain practical expedients available under the transition guidance. The impact from adoption was not material to our financial statements, and the timing of our revenue recognition has remained materially consistent before and after the adoption of ASC 606. The new revenue standard provides specific guidance for combining contracts, which resulted in a prospective reclassification between cost of sales and revenues within our Sempra LNG & Midstream segment. This reclassification had no impact on Sempra Energy’s consolidated revenues or cost of sales. Our additional disclosures about the nature, amount, timing and uncertainty of revenues arising from contracts with customers are included in Note 3. ASU 2016-01, “Recognition and Measurement of Financial Assets and Financial Liabilities” and ASU 2018-03, “Technical Corrections and Improvements to Financial Instruments – Overall”: In addition to the presentation and disclosure requirements for financial instruments, ASU 2016-01 requires entities to measure equity investments, other than those accounted for under the equity method, at fair value and recognize changes in fair value in net income. Entities will no longer be able to use the cost method of accounting for equity securities. However, for equity investments without readily determinable fair values that do not qualify for the practical expedient to estimate fair value using NAV per share, entities may elect a measurement alternative that will allow those investments to be recorded at cost, less impairment, and adjusted for subsequent observable price changes. ASU 2018-03 clarifies that the prospective transition approach for equity investments without readily determinable fair values is meant only for instances in which the measurement alternative is elected. Entities must record a cumulative-effect adjustment to the balance sheet as of the beginning of the first reporting period in which the standard is adopted, except for equity investments without readily determinable fair values, for which the guidance will be applied prospectively. We adopted ASU 2016-01 and ASU 2018-03 on January 1, 2018. Sempra Energy recognized a cumulative-effect adjustment to decrease Retained Earnings and Other Investments as of January 1, 2018 by $1 million . ASU 2016-02, “Leases,” ASU 2018-01, “Land Easement Practical Expedient for Transition to Topic 842,” ASU 2018-10, “Codification Improvements to Topic 842, Leases,” ASU 2018-11, “Leases (Topic 842): Targeted Improvements” and ASU 2018-20, “Narrow-Scope Improvements for Lessors” (collectively referred to as the “lease standard”): ASU 2016-02 requires entities to recognize substantially all of their leases on the balance sheet as ROU assets and lease liabilities. Entities may elect to exclude from the balance sheet those leases with a term of 12 months or less. For lessees, a lease is classified as finance or operating, and initially the asset and liability for each lease type is generally measured at the present value of the fixed lease payments. ASU 2016-02 also requires new qualitative and quantitative disclosures for both lessees and lessors. ASU 2018-10 makes technical corrections and clarifications to the accounting guidance in ASC 842. For lessors, accounting for leases is largely unchanged from previous provisions of U.S. GAAP, other than certain changes to the lease identification criteria and aligning the principles of the lessor model with those introduced in ASC 606. ASU 2018-20 addresses the following issues that lessors encounter when applying ASU 2016-02: (a) sales taxes and other similar taxes collected from lessees, (b) certain lessor costs paid directly by the lessee and (c) recognition of variable payments for contracts with lease and nonlease components. For public entities, the lease standard is effective for fiscal years beginning after December 15, 2018, including interim periods therein, with early adoption permitted. ASU 2016-02 requires lessees and lessors to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. ASU 2018-11 provides entities an optional transition method to apply the new guidance as of the adoption date, rather than as of the earliest period presented. In transition, entities may elect certain practical expedients when applying ASU 2016-02. These include a package of practical expedients that must be applied in its entirety to all leases that had commenced before the effective date and would allow an entity to not reassess (a) the existence of a lease, (b) lease classification or (c) determination of initial direct costs, which effectively allows entities to carryforward accounting conclusions under previous U.S. GAAP. ASU 2016-02 also includes a practical expedient to use hindsight in making judgments when determining the lease term and any long-lived asset impairment. ASU 2018-01 allows entities to elect a practical expedient that would exclude application of ASU 2016-02 to land easements that existed prior to its adoption, if they were not accounted for as leases under previous U.S. GAAP. In addition, ASU 2016-02 and ASU 2018-11 provide practical expedients to the lessee and lessor, respectively, for separating lease and non-lease components. These ASUs are codified in ASC 842. We will adopt the lease standard on January 1, 2019 using the optional transition method to apply the new guidance prospectively as of January 1, 2019, rather than as of the earliest period presented. We plan to elect the package of practical expedients and the land easement practical expedient described above. We do not plan to elect the practical expedient to use hindsight. The adoption of the lease standards will not change our previously reported financial statements. However, on a prospective basis, a significant portion of finance lease costs for PPAs that have historically been classified in Cost of Electric Fuel and Purchased Power will be classified in Depreciation and Amortization Expense and Interest Expense on Sempra Energy’s and SDG&E’s statements of operations. In 2018, we recorded $117 million in purchased-power costs from capital leases in Cost of Electric Fuel and Purchased Power at SDG&E and Sempra Energy. Further, the adoption of the lease standard will have a material impact on our balance sheets at January 1, 2019 due to the initial recognition of ROU assets and lease liabilities for operating leases. Our finance leases were already included on our balance sheets prior to adoption of the lease standard, consistent with previous U.S. GAAP for capital leases. We will include additional disclosures about our leases in our Notes to Consolidated Financial Statements beginning in the first quarter of 2019. The following table shows the expected (decrease) increase on our balance sheets at January 1, 2019 from adoption of the lease standard. EXPECTED IMPACT FROM ADOPTION OF THE LEASE STANDARD (Dollars in millions) Sempra Energy Consolidated SDG&E SoCalGas Other current assets $ (68 ) $ — $ — Property, plant and equipment, net (147 ) — — Right-of-use assets – operating leases 623 130 116 Deferred income taxes (3 ) — — Other current liabilities 81 20 23 Long-term debt (138 ) — — Deferred credits and other 445 110 93 Retained earnings 17 — — As a result of the adoption of the lease standard, we will derecognize our corporate headquarters building lease in accordance with the transition provisions for build-to-suit arrangements. On a prospective basis, we will account for the corporate headquarters building lease as an operating lease. The expected impact is included in the above table. ASU 2016-13, “Measurement of Credit Losses on Financial Instruments”: ASU 2016-13 changes how entities will measure credit losses for most financial assets and certain other instruments. The standard introduces an “expected credit loss” impairment model that requires immediate recognition of estimated credit losses expected to occur over the remaining life of most financial assets measured at amortized cost, including trade and other receivables, loan commitments and financial guarantees. ASU 2016-13 also requires use of an allowance to record estimated credit losses on available-for-sale debt securities and expands disclosure requirements regarding an entity’s assumptions, models and methods for estimating the credit losses. For public entities, ASU 2016-13 is effective for fiscal years beginning after December 15, 2019, including interim periods therein, with early adoption permitted for fiscal years beginning after December 15, 2018. The amendments are to be applied using a modified retrospective approach through a cumulative-effect adjustment to retained earnings at the beginning of the first reporting period in the year of adoption. We are currently evaluating the effect of the standard on our ongoing financial reporting and plan to adopt the standard on January 1, 2020. ASU 2017-04, “Simplifying the Test for Goodwill Impairment”: ASU 2017-04 removes the second step of the goodwill impairment test, which requires a hypothetical purchase price allocation. An entity will be required to apply a one-step quantitative test and record the amount of goodwill impairment as the excess of a reporting unit’s carrying amount over its fair value, not to exceed the carrying amount of goodwill. For public entities, ASU 2017-04 is effective for annual or interim goodwill impairment tests in fiscal years beginning after December 15, 2019, with early adoption permitted. The amendments are to be applied on a prospective basis. We plan to adopt the standard on January 1, 2020. ASU 2017-05, “Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets”: ASU 2017-05 clarifies the scope of accounting for the derecognition or partial sale of nonfinancial assets to exclude all businesses and nonprofit activities. ASU 2017-05 also provides a definition for in-substance nonfinancial assets and additional guidance on partial sales of nonfinancial assets. We adopted the standard in conjunction with our adoption of ASC 606 on January 1, 2018 using the modified retrospective transition method and it did not materially affect our financial condition, results of operations or cash flows. ASU 2017-07, “Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost”: ASU 2017-07 requires the service cost component of net periodic benefit costs to be presented in the same income statement line item as other employee compensation costs arising from services rendered during the period and the other components of net periodic benefit costs to be presented separately outside of operating income. The guidance also allows only the service cost component to be eligible for capitalization. Amendments are to be applied retrospectively for presentation of costs and prospectively for capitalization of service costs. The guidance allows a practical expedient that permits use of previously disclosed service costs and other costs from the pension and other postretirement benefit plan disclosure in the comparative periods as appropriate estimates when retrospectively changing the presentation of these costs in the statements of operations. We adopted the standard on January 1, 2018 and elected the practical expedient available under the transition guidance. Upon adoption of ASU 2017-07, our Consolidated Statements of Operations were impacted as follows: IMPACT FROM ADOPTION OF ASU 2017-07 (Dollars in millions) Years ended December 31, 2017 2016 As previously reported Effect of adoption As adjusted As previously reported Effect of adoption As adjusted Sempra Energy: Operation and maintenance $ 3,117 $ (21 ) $ 3,096 $ 2,970 $ 6 $ 2,976 Other income, net 254 (21 ) 233 132 6 138 SDG&E: Operation and maintenance $ 1,020 $ 4 $ 1,024 $ 1,048 $ 14 $ 1,062 Total operating expenses 3,763 4 3,767 3,263 14 3,277 Operating income 713 (4 ) 709 990 (14 ) 976 Other income, net 66 4 70 50 14 64 SoCalGas: Operation and maintenance $ 1,479 $ (5 ) $ 1,474 $ 1,385 $ 6 $ 1,391 Total operating expenses 3,163 (5 ) 3,158 2,914 6 2,920 Operating income 622 5 627 557 (6 ) 551 Other income, net 36 (5 ) 31 32 6 38 ASU 2017-12, “Targeted Improvements to Accounting for Hedging Activities”: ASU 2017-12 changes the designation and measurement guidance for qualifying hedging relationships and the presentation of hedge accounting results. More specifically, the guidance expands the exposures that can be hedged to align with an entity’s risk management strategies, alleviates documentation requirements, eliminates the concept of recognizing periodic hedge ineffectiveness for cash flow and net investment hedges and requires entities to present the entire change in the fair value of a hedging instrument in the same income statement line item as the earnings effect of the hedged item. Transition elections are available for all hedges that exist at the date of adoption. We early adopted ASU 2017-12 on January 1, 2018 by applying the modified retrospective approach to the accounting for existing hedging relationships. Upon adoption of ASU 2017-12, Sempra Energy recognized a cumulative-effect adjustment to increase Retained Earnings and Accumulated Other Comprehensive Loss as of January 1, 2018 by $3 million . ASU 2018-02, “Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income”: ASU 2018-02 contains amendments that allow a reclassification from AOCI to retained earnings for stranded tax effects resulting from the TCJA. Under ASU 2018-02, an entity will be required to provide certain disclosures regarding stranded tax effects, including its accounting policy related to releasing the income tax effects from AOCI. The amendments in this update can be applied either as of the beginning of the period of adoption or retrospectively as of the date of enactment of the TCJA and to each period in which the effect of the TCJA is recognized. For public entities, ASU 2018-02 is effective for annual reporting periods beginning after December 15, 2018, including interim periods therein, with early adoption permitted. We will adopt ASU 2018-02 on January 1, 2019 and will reclassify the income tax effects of the TCJA from AOCI to retained earnings. We expect the impact from adoption of ASU 2018-02 on January 1, 2019 to be as follows: ▪ Sempra Energy: increase of $40 million to beginning Retained Earnings, $2 million to noncurrent Regulatory Liabilities and $42 million to Accumulated Other Comprehensive Loss; ▪ SDG&E: increase of $2 million to beginning Retained Earnings and Accumulated Other Comprehensive Loss; and ▪ SoCalGas: increase of $2 million to beginning Retained Earnings, $2 million to noncurrent Regulatory Liabilities and $4 million to Accumulated Other Comprehensive Loss. ASU 2018-05, “Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118”: As a result of the TCJA, the SEC staff issued Staff Accounting Bulletin No. 118 (SAB 118), which provides guidance on accounting for the TCJA’s impact. Under SAB 118, an entity may apply an approach similar to the measurement period in a business combination. That is, an entity would record those impacts for which the accounting is complete. For matters that are not certain, the entity would either (a) recognize provisional amounts to the extent that they are reasonably estimable and adjust them over time as more information becomes available, or (b) for any specific income tax effects of the TCJA for which a reasonable estimate cannot be determined, continue to apply ASC 740, Income Taxes , on the basis of the provisions of the tax laws that were in effect immediately before the TCJA was signed into law; the entity would not adjust current or deferred income taxes for those tax effects of the TCJA until a reasonable estimate can be determined. ASU 2018-05 amends ASC 740 by incorporating SAB 118 and was effective upon issuance. We applied SAB 118 and ASU 2018-05 in 2018. The income tax effects of the TCJA that we recorded in 2017 were provisional. We adjusted our provisional estimates and completed our accounting for the income tax effects of the TCJA in 2018, as we discuss in Note 8. ASU 2018-13, “Changes to the Disclosure Requirements for Fair Value Measurement” and ASU 2018-14, “Changes to the Disclosure Requirements for Defined Benefit Plans”: We describe below and in Note 2 of the Notes to Consolidated Financial Statements recent pronouncements that have had a significant effect on Sempra Energy’s financial condition, results of operations, cash flows or disclosures. Additional information on ASU 2018-05 and ASU 2018-14, which may also have a significant effect on Sempra Energy’s financial condition, results of operation, cash flows or disclosures, is provided in Note 2 of the Notes to Consolidated Financial Statements. ASU 2016-02, “Leases,” ASU 2018-10, “Codification Improvements to Topic 842, Leases” and ASU 2018-11, “Leases (Topic 842): Targeted Improvements” (collectively referred to as the “lease standard”): We will adopt the lease standard on January 1, 2019 using the optional transition method to apply the new guidance prospectively as of January 1, 2019, rather than as of the earliest period presented. The adoption of the lease standard will have a material impact on our balance sheet at January 1, 2019 due to the initial recognition of ROU assets and lease liabilities for operating leases. The following table shows the expected increase (decrease) from adoption of the lease standard on our balance sheet at January 1, 2019. EXPECTED IMPACT FROM ADOPTION OF THE LEASE STANDARD (Dollars in millions) Right-of-use assets – operating leases $ 191 Deferred income taxes (3 ) Property, plant and equipment, net (1) (147 ) Other current liabilities 3 Long-term debt (138 ) Other long-term liabilities 159 Retained earnings (2) 17 (1) Included in Other Assets. (2) Included in Shareholders’ Equity. As a result of the adoption of the lease standard, we will derecognize our corporate headquarters building lease in accordance with the transition provisions for build-to-suit arrangements. On a prospective basis, we will account for the corporate headquarters building lease as an operating lease. The expected impact is included in the above table. ASU 2017-07, “Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost”: We adopted the standard on January 1, 2018 and elected the practical expedient available under the transition guidance. Upon adoption of ASU 2017-07, our Condensed Statements of Operations were impacted as follows: IMPACT FROM ADOPTION OF ASU 2017-07 (Dollars in millions) Years ended December 31, 2017 2016 As previously reported Effect of adoption As adjusted As previously reported Effect of adoption As adjusted Sempra Energy: Operation and maintenance $ (87 ) $ 7 $ (80 ) $ (81 ) $ 5 $ (76 ) Other income (expense), net 107 (7 ) 100 (2 ) (5 ) (7 ) ASU 2018-02, “Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income”: We will adopt ASU 2018-02 on January 1, 2019 and will reclassify the income tax effects of the TCJA from AOCI to retained earnings. We expect the impact from adoption of ASU 2018-02 on January 1, 2019 to be an increase of $14 million |
Revenue from Contract with Customer | Our revenues from contracts with customers are primarily related to the generation, transmission and distribution of electricity and the transmission, distribution and storage of natural gas through our regulated utilities. We also provide other midstream and renewable energy-related services. We assess our revenues on a contract-by-contract basis as well as a portfolio basis to determine the nature, amount, timing and uncertainty, if any, of revenues being recognized. We generally recognize revenues when performance of the promised commodity service is provided to our customers and invoice our customers for an amount that reflects the consideration we are entitled to in exchange for those services. We consider the delivery and transmission of electricity and natural gas and providing of natural gas storage services as ongoing and integrated services. Generally, electricity or natural gas services are received and consumed by the customer simultaneously. Our performance obligations related to these services are satisfied over time and represent a series of distinct services that are substantially the same and that have the same pattern of transfer to the customers. We recognize revenue based on units delivered, as the satisfaction of our performance obligations can be directly measured by the amount of electricity or natural gas delivered to the customer. In most cases, the right to consideration from the customer directly corresponds to the value transferred to the customer and we recognize revenue in the amount that we have the right to invoice. We provide further details of our revenue streams below. The payment terms in our customer contracts vary. Typically, we have an unconditional right to customer payments, which are due after the performance obligation to the customer is satisfied. The term between invoicing and when payment is due is typically between 10 and 90 days. We have elected the practical expedient to exclude sales and usage-based taxes from revenues. In addition, the California Utilities pay franchise fees to operate in various municipalities. The California Utilities bill these franchise fees to their customers based on a CPUC-authorized rate. These franchise fees, which are required to be paid regardless of the California Utilities’ ability to collect from the customer, are accounted for on a gross basis and reflected in utilities revenues from contracts with customers and operating expense. Utilities Revenues Utilities revenues represent the majority of our consolidated revenues from contracts with customers and include: The generation, transmission and distribution of electricity at: ▪ SDG&E ▪ Sempra South American Utilities’ Chilquinta Energía and Luz del Sur The transmission, distribution and storage of natural gas at: ▪ SDG&E ▪ SoCalGas ▪ Sempra Mexico’s Ecogas Utilities revenues are derived from and recognized upon the delivery of electricity or natural gas services to customers. Amounts that we bill our customers are based on tariffs set by regulators within the respective state or country. For SDG&E and SoCalGas, which follow the provisions of U.S. GAAP governing rate-regulated operations as we discuss in Note 1, amounts that we bill to customers also include adjustments for previously recognized regulatory revenues. The California Utilities and Ecogas recognize revenues based on regulator-approved revenue requirements, which allows the utilities to recover their reasonable cost of O&M and provides the opportunity to realize their authorized rates of return on their investments. While the California Utilities’ revenues are not affected by actual sales volumes, the pattern of their revenue recognition during the year is affected by seasonality. SoCalGas recognizes annual authorized revenue for core natural gas customers using seasonal factors established in the Triennial Cost Allocation Proceeding. Accordingly, a significant portion of SoCalGas’ annual earnings are recognized in the first and fourth quarters of each year. SDG&E’s authorized revenue recognition is also impacted by seasonal factors, resulting in higher earnings in the third quarter when electric loads are typically higher than in the other three quarters of the year. SDG&E has an arrangement to provide the California ISO with the ability to control its high-voltage transmission lines for prices approved by the FERC. Revenue is recognized over time as access is provided to the California ISO. Chilquinta Energía and Luz del Sur, our electric distribution utilities in South America, recognize revenues based on tariffs designed to provide for a pass-through to customers of transmission and energy costs, recovery of reasonable O&M based on an efficient model distribution company, incentives to reduce costs and make needed capital investments and a regulated rate of return on the distributor’s regulated asset base. Factors that can affect the amount, timing and uncertainty of revenues and cash flows include weather, seasonality and timing of customer billings, which may result in unbilled revenues that can vary significantly from month to month and generally approximate one-half month’s deliveries. The California Utilities recognize revenues from the sale of allocated California GHG emissions allowances at quarterly auctions administered by CARB. GHG allowances are delivered to CARB in advance of the quarterly auctions, and the California Utilities have the right to payment when the GHG allowances are sold at auction. GHG revenue is recognized on a point in time basis within the quarter the auction is held. The California Utilities balance costs and revenues associated with the GHG program through regulatory balancing accounts. Midstream Revenues Midstream revenues at Sempra Mexico and Sempra LNG & Midstream typically represent revenues from long-term, U.S. dollar-based contracts with customers for the sale of natural gas and LNG, as well as storage and transportation of natural gas. Invoiced amounts are based on the volume of natural gas delivered and contracted prices. Sempra Mexico’s marketing operations sell natural gas to the CFE and other customers under supply agreements. Sempra Mexico recognizes the revenue from the sale of natural gas upon transfer of the natural gas via pipelines to customers at the agreed upon delivery points, and in the case of the CFE, at its thermoelectric power plants. Through its marketing operations, Sempra LNG & Midstream has contracts to sell natural gas and LNG to Sempra Mexico that allow Sempra Mexico to satisfy its obligations under supply agreements with the CFE and other customers, and to supply Sempra Mexico’s TdM power plant. Because Sempra Mexico either immediately delivers the natural gas to its customers or consumes the benefits simultaneously (by using the gas to supply TdM), revenues from Sempra LNG & Midstream’s sale of natural gas to Sempra Mexico are generally recognized over time as delivered. Revenues from LNG sales are recognized at the point when the cargo is delivered to Sempra Mexico. Revenues from the sale of LNG and natural gas by Sempra LNG & Midstream to Sempra Mexico are adjusted for indemnity payments and profit sharing. We consider these adjustments to be forms of variable consideration that are associated with the sale of LNG and natural gas to Sempra Mexico, and therefore, Sempra LNG & Midstream records the related costs as an offset to revenues, with no impact to Sempra Energy’s consolidated revenues. We recognize storage revenue from firm capacity reservation agreements, under which we collect a fee for reserving storage capacity for customers in our underground storage facilities. Under these firm agreements, customers pay a monthly fixed reservation fee based on the storage capacity reserved rather than the actual volumes stored. For the fixed-fee component, revenue is recognized on a straight-line basis over the term of the contract. We bill customers for any capacity used in excess of the contracted capacity and such revenues are recognized in the month of occurrence. We also recognize revenue for interruptible storage services. As we discuss in Note 5 , on February 7, 2019, Sempra LNG & Midstream completed the sale of its non-utility natural gas storage assets in the southeast U.S. (comprised of Mississippi Hub and Bay Gas). We generate pipeline transportation revenues from firm agreements, under which customers pay a fee for reserving transportation capacity. Revenue is recognized when the volumes are delivered to the customers’ agreed upon delivery point. We recognize revenues for our stand-ready obligation to provide capacity and transportation services throughout the contractual delivery period, as the benefits are received and consumed simultaneously as customers utilize pipeline capacity for the transport and receipt of natural gas and LPG. Invoiced amounts are based on a variable usage fee and a fixed capacity charge, adjusted for the CPI, the effects of any foreign currency translation and the actual quantity of commodity transported. Renewables Revenues Sempra Renewables and Sempra Mexico develop, invest in and operate solar and wind facilities that have long-term PPAs to sell the electricity and the related green energy attributes they generate to customers, generally load serving entities, and also for Sempra Mexico, industrial and other customers. Load serving entities will sell electric service to their end-users and wholesale customers immediately upon receipt of our power delivery, and industrial and other customers immediately consume the electricity to run their facilities, and thus, we recognize the revenue under the PPAs as the electricity is generated. We invoice customers based on the volume of energy delivered at rates pursuant to the PPAs. As we discuss in Note 5 , in December 2018, we completed the sale of Sempra Renewables’ U.S. operating solar assets, solar and battery storage development projects and its 50-percent ownership interest in a wind power generation facility. In February 2019, Sempra Renewables entered into an agreement to sell its remaining wind assets and investments. We expect to complete the sale in the second quarter of 2019. Sempra LNG & Midstream has a contractual agreement to provide scheduling and marketing of renewable power for Sempra Renewables. Invoiced amounts are based on a fixed fee per MWh scheduled. Other Revenues from Contracts with Customers Tecnored and Tecsur, our energy services companies in South America, generate revenues from the retail sale of electric materials and providing electric construction and infrastructure services to their customers. TdM is a natural gas-fired power plant that generates revenues from selling electricity and/or resource adequacy to the California ISO and to governmental, public utility and wholesale power marketing entities, as the power is delivered at the interconnection point. Remaining Performance Obligations We do not disclose information about remaining performance obligations for (a) contracts with an original expected length of one year or less, (b) revenues recognized at the amount at which we have the right to invoice for services performed, or (c) variable consideration allocated to wholly unsatisfied performance obligations. Certain of our revenues are derived from sources other than contracts with customers and are accounted for under other accounting standards outside the scope of ASC 606. Utilities Regulatory Revenues Alternative Revenue Programs We recognize revenues from alternative revenue programs when the regulator-specified conditions for recognition have been met and adjust these revenues as they are recovered or refunded through future utility service. Decoupled revenues. As discussed earlier, the regulatory framework requires the California Utilities to recover authorized revenue based on estimated annual demand forecasts approved in regular proceedings before the CPUC. However, actual demand for electricity and natural gas will generally vary from CPUC-approved forecasted demand due to the impacts from weather volatility, energy efficiency programs, rooftop solar and other factors affecting consumption. The CPUC regulatory framework provides for the California Utilities to use a “decoupling” mechanism, which allows the California Utilities to record revenue shortfalls or excess revenues resulting from any difference between actual and forecasted demand to be recovered or refunded in authorized revenue in a subsequent period based on the nature of the account. Incentive mechanisms. The CPUC applies performance-based measures and incentive mechanisms to all California IOUs, under which the California Utilities have earnings potential above authorized base margins if they achieve or exceed specific performance and operating goals. Generally, for performance-based awards, if performance is above or below specific benchmarks, the utility is eligible for financial awards or subject to financial penalties. Incentive awards are included in revenues when we receive required CPUC approval of the award, the timing of which may not be consistent from year to year. We would record penalties for results below the specified benchmarks against revenues when we believe it is probable that the CPUC would assess a penalty. Other Cost-Based Regulatory Recovery The CPUC authorizes the California Utilities to collect revenue requirements for costs that they have been authorized to recover from customers, including the costs to purchase electricity and natural gas; costs associated with administering public purpose, demand response, and customer energy efficiency programs; and other programmatic activities authorized as part of the GRC or separately from the GRC. Actual costs are recovered as the commodity or service is delivered or, to the extent actual amounts vary from forecasts, generally recovered or refunded within a subsequent period based on the nature of the account through a balancing account mechanism. In general, the revenue recognition criteria for pass-through costs billed to customers are met at the time the costs are incurred. Because SDG&E’s and SoCalGas’ cost of electricity and/or natural gas is substantially recovered in rates through a balancing account mechanism, changes in these costs are reflected in the changes in revenues, and therefore do not impact earnings. The CPUC authorizes balancing accounts for certain programmatic activities. Amounts billed to customers, if any, are recorded in these accounts, as well as actual O&M and applicable capital-related costs (such as depreciation, taxes and ROE). Differences between actual and authorized expenditures are tracked and may be recovered or refunded within a GRC cycle or as part of a subsequent GRC request. Examples of these types of programs include, but are not limited to, gas distribution, gas transmission, and gas storage integrity management. The CPUC may impose various review procedures before authorizing recovery or refund for programs authorized separately from the GRC, including limitations on the total cost of the program, revenue requirement limits or reviews of costs for reasonableness. These procedures could result in disallowances of recovery from ratepayers. An example of a program with reasonableness review procedures is PSEP. We discuss balancing accounts and their effects further in Note 4 . Other Revenues Sempra LNG & Midstream has an agreement to supply LNG to Sempra Mexico’s ECA LNG terminal. Although the LNG sale and purchase agreement specifies a number of cargoes to be delivered annually, actual cargoes delivered by the supplier have traditionally been significantly lower than the maximum specified under the agreement. As a result, Sempra LNG & Midstream is contractually required to make monthly indemnity payments to Sempra Mexico for failure to deliver the contracted LNG. Sempra Mexico generates lease revenues from operating lease agreements with PEMEX for the use of natural gas and ethane pipelines and LPG storage facilities. Certain PPAs at Sempra Renewables were also accounted for as operating leases prior to December 2018. Subsequent to the sale of its solar assets in December 2018, Sempra Renewables has one operating lease remaining, with a term of 15 years. Sempra LNG & Midstream recognizes other revenues from: ▪ fees related to contractual counterparty obligations for non-delivery of LNG cargoes, as described above. ▪ |
Business Combinations | Valuation of IEnova Pipelines’ Assets and Liabilities. Based on the nature of the Mexico regulatory environment and the oversight surrounding the establishment and maintenance of rates that IEnova Pipelines charges for services on its assets, IEnova Pipelines applies the guidance under the provisions of U.S. GAAP governing rate-regulated operations. Therefore, when determining the fair value of the acquired assets and liabilities assumed, we considered the effect of regulation on a market participant’s view of the highest and best use of the assets, in particular for the fair value of IEnova Pipelines’ PP&E. Under U.S. GAAP, regulation is viewed as being a characteristic (restriction) of a regulated entity’s PP&E, and the impact of regulation is considered a fundamental input to measuring the fair value of PP&E in a business combination involving a regulated business. Under this premise, the fair value of the PP&E of a regulated business is generally assumed to be equivalent to carrying value for financial reporting purposes. Management concluded that the carrying value of IEnova Pipelines’ PP&E is representative of fair value. We applied an income approach, specifically the discounted cash flow method, to measure the fair value of debt and derivatives. We valued debt by discounting future debt payments by a market yield, and we valued derivatives by discounting the future interest payments under the fixed and floating rates using current market data. We accounted for this business combination using the acquisition method of accounting whereby the total fair value of the business acquired is allocated to identifiable assets acquired and liabilities assumed based on their respective The fair values of the tangible and intangible assets acquired and liabilities assumed were recognized based on their preliminary values at the acquisition date. Significant inputs used to measure the fair values of the acquired PP&E, intangible asset, debt and derivatives are as follows: ▪ PP&E – We applied an income approach using market-based discounted cash flows. We used the pricing included in the existing PPAs, which was determined to reflect current market rates in the Mexican renewable energy market. ▪ Intangible asset – Ventika is the holder of a renewable energy transmission and consumption permit that allows it to transmit its generated power to various locations within Mexico at beneficial rates and reduces the administrative burden to manage transmitting power to off-takers. With recent renewable energy market reforms in Mexico, these transmission and consumption permits are no longer available, resulting in higher tariffs for generators. We applied an income approach based on a cash flow differential approach that measures the fair value of the transmission rights by comparing the operating expenses under the transmission and consumption permit as compared to under the new, higher tariffs. This acquired intangible asset has an amortization period of 19 years , reflecting the remaining life of the transmission and consumption transmission permit at the time of acquisition. ▪ Debt – Using an income approach, we valued debt by discounting future debt payments by a market yield commensurate with the remaining term of the loans. ▪ Derivatives – Using an income approach, we valued derivatives by discounting the future interest payments under the fixed and floating rates using current market data. Additionally, we recognized deferred income taxes on Ventika’s existing NOLs and the difference between the fair values and tax bases of the net assets acquired using the Mexican statutory rate. . The fair values of the tangible and intangible assets acquired and liabilities assumed were recognized based on their preliminary values at the acquisition date. Significant inputs used to measure the fair values of the acquired PP&E and intangible assets are as follows: ▪ PP&E - We applied an income approach using market-based discounted cash flows. We used discounted free cash flows on revenues established by the most recent regulatory rate case, which was determined to reflect the fair value of PP&E. ▪ Intangible assets - CTNG holds concession permits that allow it to operate transmission lines and substations into perpetuity. We applied an income approach using market-based discounted cash flows. To estimate the fair value of the concession permits, we estimated the fair value of each transmission line and substation business enterprise assuming that they will operate into perpetuity. We then subtracted the corresponding fair value of the PP&E from each transmission line and substation business enterprise value to estimate the value attributable to the concession permits. Additionally, we recognized deferred income taxes on CTNG’s existing NOLs and for the difference between fair values and tax bases of the net assets acquired using the Chilean statutory tax rate. |
Investments in Noncontrolling Interests | We generally account for investments under the equity method when we have significant influence over, but do not have control of, these entities. In these cases, our pro rata shares of the entities’ net assets are included in Investment in Oncor Holdings or Other Investments on the Consolidated Balance Sheets. We evaluate the carrying value of unconsolidated entities for impairment under the U.S. GAAP provisions for equity method investments. We adjust each investment for our share of each investee’s earnings or losses, dividends, and OCI. Equity earnings and losses, both before and net of income tax, are combined and presented as Equity Earnings on the Consolidated Statements of Operations. See Note 8 for information regarding the pretax income or loss used to calculate our ETR. Our equity method investments include various domestic and foreign entities. Our domestic equity method investees are typically partnerships that are pass-through entities for income tax purposes and therefore they do not record income tax. Sempra Energy’s income tax on earnings from these equity method investees, other than Oncor Holdings as we discuss below, is included in Income Tax Expense on the Consolidated Statements of Operations. Oncor is a partnership for U.S. federal income tax purposes and is not included in the consolidated income tax return of Sempra Energy. Rather, only our equity earnings from our investment in Oncor Holdings (a disregarded entity for tax purposes) are included in our consolidated income tax return. A tax sharing agreement with TTI, Oncor Holdings and Oncor provides for the calculation of an income tax liability substantially as if Oncor Holdings and Oncor were taxed as corporations, and requires tax payments determined on that basis. While partnerships are not subject to income taxes, in consideration of the tax sharing agreement and Oncor being subject to the provisions of U.S. GAAP governing rate-regulated operations, Oncor recognizes amounts determined under cost-based regulatory rate-setting processes (with such costs including income taxes), as if it were taxed as a corporation. As a result, since Oncor Holdings consolidates Oncor, we recognize equity earnings from our investment in Oncor Holdings net of its recorded income tax. With the exception of RBS Sempra Commodities, discussed below, our foreign equity method investees are corporations whose |
Employee Benefit Plans | EMPLOYEE BENEFIT PLANS For our employee benefit plans, we: ▪ recognize an asset for a plan’s overfunded status or a liability for a plan’s underfunded status in the statement of financial position; ▪ measure a plan’s assets and its obligations that determine its funded status as of the end of the fiscal year; and ▪ recognize changes in the funded status of pension and PBOP plans in the year in which the changes occur. Generally, those changes are reported in OCI and as a separate component of shareholders’ equity. The detailed information presented below covers the employee benefit plans of primarily Sempra Energy and its consolidated subsidiaries. Sempra Energy has funded and unfunded noncontributory traditional defined benefit and cash balance plans, including separate plans for SDG&E and SoCalGas, which collectively cover all eligible employees, including members of the Sempra Energy board of directors who were participants in a predecessor plan on or before June 1, 1998. Pension benefits under the traditional defined benefit plans are based on service and final average earnings, while the cash balance plans provide benefits using a career average earnings methodology. IEnova has an unfunded noncontributory defined benefit plan covering all employees. Chilquinta Energía has an unfunded noncontributory defined benefit plan covering all employees hired before October 1, 1981 and an unfunded noncontributory termination indemnity plan covering represented employees. The plans generally provide defined benefits to retirees based on date of hire, years of service and final average earnings. Sempra Energy also has PBOP plans, including separate plans for SDG&E and SoCalGas, which collectively cover all domestic and certain foreign employees. The life insurance plans are both contributory and noncontributory, and the health care plans are contributory. Participants’ contributions are adjusted annually. Other postretirement benefits include medical benefits for retirees’ spouses. Chilquinta Energía also has two noncontributory postretirement benefit plans that cover represented employees – a health care plan and an energy subsidy plan that provides for reduced energy rates. The health care plan includes benefits for retirees’ spouses and dependents. Pension and other postretirement benefits costs and obligations are dependent on assumptions used in calculating such amounts. The assets and liabilities of the pension and PBOP plans are affected by changing market conditions as well as when actual plan experience is different than assumed. Such events result in investment gains and losses, which we defer and recognize in pension and other postretirement benefit costs over a period of years. Our funded pension and PBOP plans use the asset smoothing method, except for those at SDG&E. This method develops an asset value that recognizes realized and unrealized investment gains and losses over a three-year period. This adjusted asset value, known as the market-related value of assets, is used in conjunction with an expected long-term rate of return to determine the expected return-on-assets component of net periodic benefit cost. SDG&E does not use the asset smoothing method, but rather recognizes realized and unrealized investment gains and losses during the current year. The 10 -percent corridor accounting method is used at Sempra Energy Consolidated, SDG&E and SoCalGas. Under the corridor accounting method, if as of the beginning of a year unrecognized net gain or loss exceeds 10 percent of the greater of the projected benefit obligation or the market-related value of plan assets, the excess is amortized over the average remaining service period of active participants. The asset smoothing and 10 -percent corridor accounting methods help mitigate volatility of net periodic benefit costs from year to year. We recognize the overfunded or underfunded status of defined benefit pension and other postretirement plans as assets or liabilities, respectively; unrecognized changes in these assets and/or liabilities are normally recorded in AOCI on the balance sheet. The California Utilities record regulatory assets and liabilities that offset the funded pension and other postretirement plans’ assets or liabilities, as these costs are expected to be recovered in future utility rates based on decisions by regulatory agencies. Benefit Obligation and Net Periodic Benefit Cost Except for the IEnova and Chilquinta Energía plans, we develop the discount rate assumptions based on the results of a third party modeling tool that matches each plan’s expected cash flows to interest rates and expected maturity values of individually selected bonds in a hypothetical portfolio. The model controls the level of accumulated surplus that may result from the selection of bonds based solely on their premium yields by limiting the number of years to look back for selection to 3 years for pre-30-year and 6 years for post-30-year benefit payments. Additionally, the model ensures that an adequate number of bonds are selected in the portfolio by limiting the amount of the plan’s benefit payments that can be met by a single bond to 7.5 percent. We selected individual bonds from a universe of Bloomberg AA-rated bonds that: ▪ have an outstanding issue of at least $50 million; ▪ are non-callable (or callable with make-whole provisions); ▪ exclude collateralized bonds; and ▪ exclude the top and bottom 10 percent of yields to avoid relying on bonds that might be mispriced or misgraded . This selection methodology also mitigates the impact of market volatility on the portfolio by excluding bonds with the following characteristics: ▪ the issuer is on review for downgrade by a major rating agency if the downgrade would eliminate the issuer from the portfolio; ▪ recent events have caused significant price volatility to which rating agencies have not reacted; and ▪ lack of liquidity is causing price quotes to vary significantly from broker to broker. We believe that this bond selection approach provides the best estimate of discount rates to estimate settlement values for our plans’ benefit obligations as required by applicable U.S. GAAP. We develop the discount rate assumptions for the plans at IEnova by constructing a synthetic government zero coupon bond yield curve from the available market data, based on duration matching, and we add a risk spread to allow for the yields of high-quality corporate bonds. We develop the discount rate assumptions for the plans at Chilquinta Energía based on 10 -year Chilean government bond yields and the expected local long-term rate of inflation. These methods for developing the discount rate are required when there is no deep market for high quality corporate bonds. Long-term return on assets is based on the weighted-average of the plans’ investment allocation as of the measurement date and the expected returns for those asset types. Interest crediting rate is based on an average 30-year Treasury bond from the month of November of the preceding year. We classify the investments in Sempra Energy’s pension master trust and the trusts for the California Utilities’ PBOP plans based on the fair value hierarchy, except for certain investments measured at NAV. The following are descriptions of the valuation methods and assumptions we use to estimate the fair values of investments held by pension and other postretirement benefit plan trusts. Equity Securities – Equity securities are valued using quoted prices listed on nationally recognized securities exchanges. Fixed Income Securities – Certain fixed income securities are valued at the closing price reported in the active market in which the security is traded. Other fixed income securities are valued based on yields currently available on comparable securities of issuers with similar credit ratings. When quoted prices are not available for identical or similar securities, the security is valued under a discounted cash flow approach that maximizes observable inputs, such as current yields of similar instruments, but includes adjustments for certain risks that may not be observable, such as credit and liquidity risks. Certain high yield fixed-income securities are valued by applying a price adjustment to the bid side to calculate a mean and ask value. Adjustments can vary based on maturity, credit standing, and reported trade frequencies. The bid to ask spread is determined by the investment manager based on the review of the available market information. Registered Investment Companies – Investments in mutual funds sponsored by a registered investment company are valued based on exchange listed prices. Where the value is a quoted price in an active market, the investment is classified within Level 1 of the fair value hierarchy. Investments in certain fixed income securities are valued under a discounted cash flow approach that maximizes observable inputs, such as current yields of similar instruments, but includes adjustments for certain risks that may not be observable, such as credit and liquidity risks for the remaining fixed income securities. Common/Collective Trusts – Investments in common/collective trust funds are valued based on the NAV of units owned, which is based on the current fair value of the funds’ underlying assets. Private Equity Funds – These funds consist of investments in private equities that are held by limited partnerships following various strategies, including private equity and corporate finance. These partnerships generally have limited lives of 10 years, after which liquidating distributions will be received. The value is determined based on the NAV of the proportionate share of an ownership interest in partners’ capital. Holdings in these types of private equity funds are negligible, as the funds are well past their expected investment term and have distributed the bulk of proceeds from investment sales. Derivative Financial Instruments – Futures contracts that are publicly traded in active markets are valued at closing prices as of the last business day of the year. Forward currency contracts are valued at the prevailing forward exchange rate of the underlying currencies, and unrealized gain (loss) is recorded daily. Fixed income futures and options are marked to market daily. Equity index futures contracts are valued at the last sales price quoted on the exchange on which they primarily trade. While management believes the valuation methods described above are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date. We provide more discussion of fair value measurements in Notes 1 and 12 . The following tables set forth by level within the fair value hierarchy a summary of the investments in our pension and other postretirement benefit plan trusts measured at fair value on a recurring basis. |
Share-based Compensation | SEMPRA ENERGY RESTRICTED STOCK AWARDS AND UNITSWe use a Monte-Carlo simulation model to estimate the fair value of our RSAs and for our RSUs that vest based on Sempra Energy’s total return to shareholders. Our determination of fair value is affected by the historical volatility of the common stock price for Sempra Energy and its peer group companies. The valuation also is affected by the risk-free rates of return, and a number of other variables.Our practice is to satisfy share-based awards by issuing new shares rather than by open-market purchases. We measure and recognize compensation expense for all share-based payment awards made to our employees and directors based on estimated fair values on the date of grant. We recognize compensation costs net of an estimated forfeiture rate (based on historical experience) and recognize the compensation costs for non-qualified stock options, RSAs and RSUs on a straight-line basis over the requisite service period of the award, which is generally three or four |
Derivative Financial Instruments | We use derivative instruments primarily to manage exposures arising in the normal course of business. Our principal exposures are commodity market risk, benchmark interest rate risk and foreign exchange rate exposures. Our use of derivatives for these risks is integrated into the economic management of our anticipated revenues, anticipated expenses, assets and liabilities. Derivatives may be effective in mitigating these risks (1) that could lead to declines in anticipated revenues or increases in anticipated expenses, or (2) that our asset values may fall or our liabilities increase. Accordingly, our derivative activity summarized below generally represents an impact that is intended to offset associated revenues, expenses, assets or liabilities that are not included in the tables below. In certain cases, we apply the normal purchase or sale exception to derivative instruments and have other commodity contracts that are not derivatives. These contracts are not recorded at fair value and are therefore excluded from the disclosures below. In all other cases, we record derivatives at fair value on the Consolidated Balance Sheets. We designate each derivative as (1) a cash flow hedge, (2) a fair value hedge, or (3) undesignated. Depending on the applicability of hedge accounting and, for the California Utilities and other operations subject to regulatory accounting, the requirement to pass impacts through to customers, the impact of derivative instruments may be offset in OCI (cash flow hedge), on the balance sheet (fair value hedges and regulatory offsets), or recognized in earnings. We classify cash flows from the principal settlements of cross-currency swaps that hedge exposure related to Mexican peso-denominated debt as financing activities and settlements of other derivative instruments as operating activities on the Consolidated Statements of Cash Flows. HEDGE ACCOUNTING We may designate a derivative as a cash flow hedging instrument if it effectively converts anticipated cash flows associated with revenues or expenses to a fixed dollar amount. We may utilize cash flow hedge accounting for derivative commodity instruments, foreign currency instruments and interest rate instruments. Designating cash flow hedges is dependent on the business context in which the instrument is being used, the effectiveness of the instrument in offsetting the risk that the future cash flows of a given revenue or expense item may vary, and other criteria. We may designate an interest rate derivative as a fair value hedging instrument if it effectively converts our own debt from a fixed interest rate to a variable rate. The combination of the derivative and debt instrument results in fixing that portion of the fair value of the debt that is related to benchmark interest rates. Designating fair value hedges is dependent on the instrument being used, the effectiveness of the instrument in offsetting changes in the fair value of our debt instruments, and other criteria. ENERGY DERIVATIVES Our market risk is primarily related to natural gas and electricity price volatility and the specific physical locations where we transact. We use energy derivatives to manage these risks. The use of energy derivatives in our various businesses depends on the particular energy market and the operating and regulatory environments applicable to the business, as follows: ▪ The California Utilities use natural gas and electricity derivatives, for the benefit of customers, with the objective of managing price risk and basis risks, and stabilizing and lowering natural gas and electricity costs. These derivatives include fixed price natural gas and electricity positions, options, and basis risk instruments, which are either exchange-traded or over-the-counter financial instruments, or bilateral physical transactions. This activity is governed by risk management and transacting activity plans that have been filed with and approved by the CPUC. Natural gas and electricity derivative activities are recorded as commodity costs that are offset by regulatory account balances and are recovered in rates. Net commodity cost impacts on the Consolidated Statements of Operations are reflected in Cost of Electric Fuel and Purchased Power or in Cost of Natural Gas. ▪ SDG&E is allocated and may purchase CRRs, which serve to reduce the regional electricity price volatility risk that may result from local transmission capacity constraints. Unrealized gains and losses do not impact earnings, as they are offset by regulatory account balances. Realized gains and losses associated with CRRs, which are recoverable in rates, are recorded in Cost of Electric Fuel and Purchased Power on the Consolidated Statements of Operations. ▪ Sempra Mexico, Sempra LNG & Midstream and Sempra Renewables may use natural gas and electricity derivatives, as appropriate, to optimize the earnings of their assets which support the following businesses: LNG, natural gas transportation and storage, and power generation. Gains and losses associated with undesignated derivatives are recognized in Energy-Related Businesses Revenues or in Cost of Natural Gas, Electric Fuel and Purchased Power on the Consolidated Statements of Operations. Certain of these derivatives may also be designated as cash flow hedges. Sempra Mexico may also use natural gas energy derivatives with the objective of managing price risk and lowering natural gas prices at its distribution operations. These derivatives, which are recorded as commodity costs that are offset by regulatory account balances and recovered in rates, are recognized in Cost of Natural Gas on the Consolidated Statements of Operations. ▪ We utilize cross-currency swaps to hedge exposure related to Mexican peso-denominated debt at our Mexican subsidiaries and JVs. These cash flow hedges exchange our Mexican peso-denominated principal and interest payments into the U.S. dollar and swap Mexican variable interest rates for U.S. fixed interest rates. From time to time, Sempra Mexico and its JVs may use other foreign currency derivatives to hedge exposures related to cash flows associated with revenues from contracts denominated in Mexican pesos that are indexed to the U.S. dollar. INTEREST RATE DERIVATIVES We are exposed to interest rates primarily as a result of our current and expected use of financing. The California Utilities, as well as Sempra Energy and its other subsidiaries and JVs, periodically enter into interest rate derivative agreements intended to moderate our exposure to interest rates and to lower our overall costs of borrowing. We may utilize interest rate swaps, typically designated as fair value hedges, as a means to achieve our targeted level of variable rate debt as a percent of total debt. In addition, we may utilize interest rate swaps, typically designated as cash flow hedges, to lock in interest rates on outstanding debt or in anticipation of future financings. |
Earnings Per Share | Basic EPS is calculated by dividing earnings attributable to common shares by the weighted-average common shares outstanding for the year. Diluted EPS includes the potential dilution of common stock equivalent shares that could occur if securities or other contracts to issue common stock were exercised or converted into common stock.The potentially dilutive impact from stock options, RSAs and RSUs is calculated under the treasury stock method. Under this method, proceeds based on the exercise price and unearned compensation are assumed to be used to repurchase shares on the open market at the average market price for the period, reducing the number of potential new shares to be issued and sometimes causing an antidilutive effect. |
Environmental Costs | At the California Utilities, costs that relate to current operations or an existing condition caused by past operations are generally recorded as a regulatory asset due to the probability that these costs will be recovered in rates.The environmental issues currently facing us, except for those related to the Aliso Canyon natural gas storage facility leak as we discuss above or resolved during the last three years, include (1) investigation and remediation of the California Utilities’ manufactured-gas sites, (2) cleanup of third-party waste-disposal sites used by the California Utilities at sites for which we have been identified as a PRP and (3) mitigation of damage to the marine environment caused by the cooling-water discharge from SONGS.We generally capitalize the significant costs we incur to mitigate or prevent future environmental contamination or extend the life, increase the capacity, or improve the safety or efficiency of property used in current operations. The following table shows our capital expenditures (including construction work in progress) in order to comply with environmental laws and regulations:We record environmental liabilities at undiscounted amounts when our liability is probable and the costs can be reasonably estimated. In many cases, however, investigations are not yet at a stage where we can determine whether we are liable or, if the liability is probable, to reasonably estimate the amount or range of amounts of the costs. Estimates of our liability are further subject to uncertainties such as the nature and extent of site contamination, evolving cleanup standards and imprecise engineering evaluations. We review our accruals periodically and, as investigations and cleanups proceed, we make adjustments as necessary. |
Concentration of Credit Risk | CONCENTRATION OF CREDIT RISK We maintain credit policies and systems designed to manage our overall credit risk. These policies include an evaluation of potential counterparties’ financial condition and an assignment of credit limits. These credit limits are established based on risk and return considerations under terms customarily available in the industry. We grant credit to utility customers and counterparties, substantially all of whom are located in our service territory, which covers most of Southern California and a portion of central California for SoCalGas, and all of San Diego County and an adjacent portion of Orange County for SDG&E. We also grant credit to utility customers and counterparties of our other companies providing natural gas or electric services in Mexico, Chile and Peru. |
Segment Reporting | We have seven separately managed reportable segments, as follows: ▪ SDG&E provides electric service to San Diego and southern Orange counties and natural gas service to San Diego County. ▪ SoCalGas is a natural gas distribution utility, serving customers throughout most of Southern California and part of central California. ▪ Sempra Texas Utility holds our investment in Oncor Holdings, which owns an 80.25 -percent interest in Oncor, a regulated electric transmission and distribution utility serving customers in the north-central, eastern and western parts of Texas. As we discuss in Note 5 , we completed our acquisition of the investment in March 2018. ▪ Sempra South American Utilities develops, owns and operates, or holds interests in, electric transmission, distribution and generation infrastructure in Chile and Peru. In January 2019, our board of directors approved a plan to sell our South American businesses. We expect to complete the sales process by the end of 2019. ▪ Sempra Mexico develops, owns and operates, or holds interests in, natural gas, electric, LNG, LPG, ethane and liquid fuels infrastructure, and has marketing operations for the purchase of LNG and the purchase and sale of natural gas in Mexico. ▪ Sempra Renewables develops, owns and operates, or holds interests in, wind and solar power generation facilities serving wholesale electricity markets in the U.S. As we discuss in Note 5 , in June 2018, our board of directors approved a plan to market and sell all the segment’s wind assets and investments and solar assets and investments. In December 2018, Sempra Renewables completed the sale of all its operating solar assets, solar and battery storage development projects and one wind generation facility. In February 2019, Sempra Renewables entered into an agreement to sell its remaining wind assets and investments. We expect to complete the sale in the second quarter of 2019. ▪ Sempra LNG & Midstream develops, owns and operates, or holds interests in, terminals for the import and export of LNG and sale of natural gas, and natural gas pipelines, storage facilities and marketing operations, all within the U.S. As we discuss in Note 5 , in June 2018, our board of directors approved a plan to market and sell our natural gas storage assets at Mississippi Hub and our 90.9 -percent ownership interest in Bay Gas. In February 2019, Sempra LNG & Midstream completed the sale of these assets. We evaluate each segment’s performance based on its contribution to Sempra Energy’s reported earnings and cash flows. The California Utilities operate in essentially separate service territories, under separate regulatory frameworks and rate structures set by the CPUC. The California Utilities’ operations are based on rates set by the CPUC and the FERC. We describe the accounting policies of all of our segments in Note 1 . |
SCHEDULE I - CONDENSED FINANC_2
SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF PARENT (Policies) | 12 Months Ended |
Dec. 31, 2018 | |
Condensed Financial Information Disclosure [Abstract] | |
New Accounting Standards | NEW ACCOUNTING STANDARDS We describe below recent accounting pronouncements that have had or may have a significant effect on our financial condition, results of operations, cash flows or disclosures. ASU 2014-09, “Revenue from Contracts with Customers,” ASU 2015-14, “Deferral of the Effective Date,” ASU 2016-08, “Principal versus Agent Considerations (Reporting Revenue Gross versus Net),” ASU 2016-10, “Identifying Performance Obligations and Licensing” and ASU 2016-12, “Narrow-Scope Improvements and Practical Expedients”: ASU 2014-09 adds ASC 606 to provide accounting guidance for the recognition of revenue from contracts with customers and affects all entities that enter into contracts to provide goods or services to their customers. The guidance also provides a model for the measurement and recognition of gains and losses on the sale of certain nonfinancial assets, such as property and equipment, including real estate. This guidance must be adopted using either a full retrospective approach for all periods presented in the period of adoption or a modified retrospective approach. Amending ASU 2014-09, ASU 2016-08 clarifies the implementation guidance on principal versus agent considerations, ASU 2016-10 clarifies the determination of whether a good or service is separately identifiable from other promises and revenue recognition related to licenses of intellectual property, and ASU 2016-12 provides guidance on transition, collectability, noncash consideration, and the presentation of sales and other similar taxes. The ASUs are codified in ASC 606. We adopted ASC 606 on January 1, 2018, applying the modified retrospective transition method to all contracts as of January 1, 2018 and elected to use certain practical expedients available under the transition guidance. The impact from adoption was not material to our financial statements, and the timing of our revenue recognition has remained materially consistent before and after the adoption of ASC 606. The new revenue standard provides specific guidance for combining contracts, which resulted in a prospective reclassification between cost of sales and revenues within our Sempra LNG & Midstream segment. This reclassification had no impact on Sempra Energy’s consolidated revenues or cost of sales. Our additional disclosures about the nature, amount, timing and uncertainty of revenues arising from contracts with customers are included in Note 3. ASU 2016-01, “Recognition and Measurement of Financial Assets and Financial Liabilities” and ASU 2018-03, “Technical Corrections and Improvements to Financial Instruments – Overall”: In addition to the presentation and disclosure requirements for financial instruments, ASU 2016-01 requires entities to measure equity investments, other than those accounted for under the equity method, at fair value and recognize changes in fair value in net income. Entities will no longer be able to use the cost method of accounting for equity securities. However, for equity investments without readily determinable fair values that do not qualify for the practical expedient to estimate fair value using NAV per share, entities may elect a measurement alternative that will allow those investments to be recorded at cost, less impairment, and adjusted for subsequent observable price changes. ASU 2018-03 clarifies that the prospective transition approach for equity investments without readily determinable fair values is meant only for instances in which the measurement alternative is elected. Entities must record a cumulative-effect adjustment to the balance sheet as of the beginning of the first reporting period in which the standard is adopted, except for equity investments without readily determinable fair values, for which the guidance will be applied prospectively. We adopted ASU 2016-01 and ASU 2018-03 on January 1, 2018. Sempra Energy recognized a cumulative-effect adjustment to decrease Retained Earnings and Other Investments as of January 1, 2018 by $1 million . ASU 2016-02, “Leases,” ASU 2018-01, “Land Easement Practical Expedient for Transition to Topic 842,” ASU 2018-10, “Codification Improvements to Topic 842, Leases,” ASU 2018-11, “Leases (Topic 842): Targeted Improvements” and ASU 2018-20, “Narrow-Scope Improvements for Lessors” (collectively referred to as the “lease standard”): ASU 2016-02 requires entities to recognize substantially all of their leases on the balance sheet as ROU assets and lease liabilities. Entities may elect to exclude from the balance sheet those leases with a term of 12 months or less. For lessees, a lease is classified as finance or operating, and initially the asset and liability for each lease type is generally measured at the present value of the fixed lease payments. ASU 2016-02 also requires new qualitative and quantitative disclosures for both lessees and lessors. ASU 2018-10 makes technical corrections and clarifications to the accounting guidance in ASC 842. For lessors, accounting for leases is largely unchanged from previous provisions of U.S. GAAP, other than certain changes to the lease identification criteria and aligning the principles of the lessor model with those introduced in ASC 606. ASU 2018-20 addresses the following issues that lessors encounter when applying ASU 2016-02: (a) sales taxes and other similar taxes collected from lessees, (b) certain lessor costs paid directly by the lessee and (c) recognition of variable payments for contracts with lease and nonlease components. For public entities, the lease standard is effective for fiscal years beginning after December 15, 2018, including interim periods therein, with early adoption permitted. ASU 2016-02 requires lessees and lessors to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. ASU 2018-11 provides entities an optional transition method to apply the new guidance as of the adoption date, rather than as of the earliest period presented. In transition, entities may elect certain practical expedients when applying ASU 2016-02. These include a package of practical expedients that must be applied in its entirety to all leases that had commenced before the effective date and would allow an entity to not reassess (a) the existence of a lease, (b) lease classification or (c) determination of initial direct costs, which effectively allows entities to carryforward accounting conclusions under previous U.S. GAAP. ASU 2016-02 also includes a practical expedient to use hindsight in making judgments when determining the lease term and any long-lived asset impairment. ASU 2018-01 allows entities to elect a practical expedient that would exclude application of ASU 2016-02 to land easements that existed prior to its adoption, if they were not accounted for as leases under previous U.S. GAAP. In addition, ASU 2016-02 and ASU 2018-11 provide practical expedients to the lessee and lessor, respectively, for separating lease and non-lease components. These ASUs are codified in ASC 842. We will adopt the lease standard on January 1, 2019 using the optional transition method to apply the new guidance prospectively as of January 1, 2019, rather than as of the earliest period presented. We plan to elect the package of practical expedients and the land easement practical expedient described above. We do not plan to elect the practical expedient to use hindsight. The adoption of the lease standards will not change our previously reported financial statements. However, on a prospective basis, a significant portion of finance lease costs for PPAs that have historically been classified in Cost of Electric Fuel and Purchased Power will be classified in Depreciation and Amortization Expense and Interest Expense on Sempra Energy’s and SDG&E’s statements of operations. In 2018, we recorded $117 million in purchased-power costs from capital leases in Cost of Electric Fuel and Purchased Power at SDG&E and Sempra Energy. Further, the adoption of the lease standard will have a material impact on our balance sheets at January 1, 2019 due to the initial recognition of ROU assets and lease liabilities for operating leases. Our finance leases were already included on our balance sheets prior to adoption of the lease standard, consistent with previous U.S. GAAP for capital leases. We will include additional disclosures about our leases in our Notes to Consolidated Financial Statements beginning in the first quarter of 2019. The following table shows the expected (decrease) increase on our balance sheets at January 1, 2019 from adoption of the lease standard. EXPECTED IMPACT FROM ADOPTION OF THE LEASE STANDARD (Dollars in millions) Sempra Energy Consolidated SDG&E SoCalGas Other current assets $ (68 ) $ — $ — Property, plant and equipment, net (147 ) — — Right-of-use assets – operating leases 623 130 116 Deferred income taxes (3 ) — — Other current liabilities 81 20 23 Long-term debt (138 ) — — Deferred credits and other 445 110 93 Retained earnings 17 — — As a result of the adoption of the lease standard, we will derecognize our corporate headquarters building lease in accordance with the transition provisions for build-to-suit arrangements. On a prospective basis, we will account for the corporate headquarters building lease as an operating lease. The expected impact is included in the above table. ASU 2016-13, “Measurement of Credit Losses on Financial Instruments”: ASU 2016-13 changes how entities will measure credit losses for most financial assets and certain other instruments. The standard introduces an “expected credit loss” impairment model that requires immediate recognition of estimated credit losses expected to occur over the remaining life of most financial assets measured at amortized cost, including trade and other receivables, loan commitments and financial guarantees. ASU 2016-13 also requires use of an allowance to record estimated credit losses on available-for-sale debt securities and expands disclosure requirements regarding an entity’s assumptions, models and methods for estimating the credit losses. For public entities, ASU 2016-13 is effective for fiscal years beginning after December 15, 2019, including interim periods therein, with early adoption permitted for fiscal years beginning after December 15, 2018. The amendments are to be applied using a modified retrospective approach through a cumulative-effect adjustment to retained earnings at the beginning of the first reporting period in the year of adoption. We are currently evaluating the effect of the standard on our ongoing financial reporting and plan to adopt the standard on January 1, 2020. ASU 2017-04, “Simplifying the Test for Goodwill Impairment”: ASU 2017-04 removes the second step of the goodwill impairment test, which requires a hypothetical purchase price allocation. An entity will be required to apply a one-step quantitative test and record the amount of goodwill impairment as the excess of a reporting unit’s carrying amount over its fair value, not to exceed the carrying amount of goodwill. For public entities, ASU 2017-04 is effective for annual or interim goodwill impairment tests in fiscal years beginning after December 15, 2019, with early adoption permitted. The amendments are to be applied on a prospective basis. We plan to adopt the standard on January 1, 2020. ASU 2017-05, “Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets”: ASU 2017-05 clarifies the scope of accounting for the derecognition or partial sale of nonfinancial assets to exclude all businesses and nonprofit activities. ASU 2017-05 also provides a definition for in-substance nonfinancial assets and additional guidance on partial sales of nonfinancial assets. We adopted the standard in conjunction with our adoption of ASC 606 on January 1, 2018 using the modified retrospective transition method and it did not materially affect our financial condition, results of operations or cash flows. ASU 2017-07, “Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost”: ASU 2017-07 requires the service cost component of net periodic benefit costs to be presented in the same income statement line item as other employee compensation costs arising from services rendered during the period and the other components of net periodic benefit costs to be presented separately outside of operating income. The guidance also allows only the service cost component to be eligible for capitalization. Amendments are to be applied retrospectively for presentation of costs and prospectively for capitalization of service costs. The guidance allows a practical expedient that permits use of previously disclosed service costs and other costs from the pension and other postretirement benefit plan disclosure in the comparative periods as appropriate estimates when retrospectively changing the presentation of these costs in the statements of operations. We adopted the standard on January 1, 2018 and elected the practical expedient available under the transition guidance. Upon adoption of ASU 2017-07, our Consolidated Statements of Operations were impacted as follows: IMPACT FROM ADOPTION OF ASU 2017-07 (Dollars in millions) Years ended December 31, 2017 2016 As previously reported Effect of adoption As adjusted As previously reported Effect of adoption As adjusted Sempra Energy: Operation and maintenance $ 3,117 $ (21 ) $ 3,096 $ 2,970 $ 6 $ 2,976 Other income, net 254 (21 ) 233 132 6 138 SDG&E: Operation and maintenance $ 1,020 $ 4 $ 1,024 $ 1,048 $ 14 $ 1,062 Total operating expenses 3,763 4 3,767 3,263 14 3,277 Operating income 713 (4 ) 709 990 (14 ) 976 Other income, net 66 4 70 50 14 64 SoCalGas: Operation and maintenance $ 1,479 $ (5 ) $ 1,474 $ 1,385 $ 6 $ 1,391 Total operating expenses 3,163 (5 ) 3,158 2,914 6 2,920 Operating income 622 5 627 557 (6 ) 551 Other income, net 36 (5 ) 31 32 6 38 ASU 2017-12, “Targeted Improvements to Accounting for Hedging Activities”: ASU 2017-12 changes the designation and measurement guidance for qualifying hedging relationships and the presentation of hedge accounting results. More specifically, the guidance expands the exposures that can be hedged to align with an entity’s risk management strategies, alleviates documentation requirements, eliminates the concept of recognizing periodic hedge ineffectiveness for cash flow and net investment hedges and requires entities to present the entire change in the fair value of a hedging instrument in the same income statement line item as the earnings effect of the hedged item. Transition elections are available for all hedges that exist at the date of adoption. We early adopted ASU 2017-12 on January 1, 2018 by applying the modified retrospective approach to the accounting for existing hedging relationships. Upon adoption of ASU 2017-12, Sempra Energy recognized a cumulative-effect adjustment to increase Retained Earnings and Accumulated Other Comprehensive Loss as of January 1, 2018 by $3 million . ASU 2018-02, “Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income”: ASU 2018-02 contains amendments that allow a reclassification from AOCI to retained earnings for stranded tax effects resulting from the TCJA. Under ASU 2018-02, an entity will be required to provide certain disclosures regarding stranded tax effects, including its accounting policy related to releasing the income tax effects from AOCI. The amendments in this update can be applied either as of the beginning of the period of adoption or retrospectively as of the date of enactment of the TCJA and to each period in which the effect of the TCJA is recognized. For public entities, ASU 2018-02 is effective for annual reporting periods beginning after December 15, 2018, including interim periods therein, with early adoption permitted. We will adopt ASU 2018-02 on January 1, 2019 and will reclassify the income tax effects of the TCJA from AOCI to retained earnings. We expect the impact from adoption of ASU 2018-02 on January 1, 2019 to be as follows: ▪ Sempra Energy: increase of $40 million to beginning Retained Earnings, $2 million to noncurrent Regulatory Liabilities and $42 million to Accumulated Other Comprehensive Loss; ▪ SDG&E: increase of $2 million to beginning Retained Earnings and Accumulated Other Comprehensive Loss; and ▪ SoCalGas: increase of $2 million to beginning Retained Earnings, $2 million to noncurrent Regulatory Liabilities and $4 million to Accumulated Other Comprehensive Loss. ASU 2018-05, “Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118”: As a result of the TCJA, the SEC staff issued Staff Accounting Bulletin No. 118 (SAB 118), which provides guidance on accounting for the TCJA’s impact. Under SAB 118, an entity may apply an approach similar to the measurement period in a business combination. That is, an entity would record those impacts for which the accounting is complete. For matters that are not certain, the entity would either (a) recognize provisional amounts to the extent that they are reasonably estimable and adjust them over time as more information becomes available, or (b) for any specific income tax effects of the TCJA for which a reasonable estimate cannot be determined, continue to apply ASC 740, Income Taxes , on the basis of the provisions of the tax laws that were in effect immediately before the TCJA was signed into law; the entity would not adjust current or deferred income taxes for those tax effects of the TCJA until a reasonable estimate can be determined. ASU 2018-05 amends ASC 740 by incorporating SAB 118 and was effective upon issuance. We applied SAB 118 and ASU 2018-05 in 2018. The income tax effects of the TCJA that we recorded in 2017 were provisional. We adjusted our provisional estimates and completed our accounting for the income tax effects of the TCJA in 2018, as we discuss in Note 8. ASU 2018-13, “Changes to the Disclosure Requirements for Fair Value Measurement” and ASU 2018-14, “Changes to the Disclosure Requirements for Defined Benefit Plans”: We describe below and in Note 2 of the Notes to Consolidated Financial Statements recent pronouncements that have had a significant effect on Sempra Energy’s financial condition, results of operations, cash flows or disclosures. Additional information on ASU 2018-05 and ASU 2018-14, which may also have a significant effect on Sempra Energy’s financial condition, results of operation, cash flows or disclosures, is provided in Note 2 of the Notes to Consolidated Financial Statements. ASU 2016-02, “Leases,” ASU 2018-10, “Codification Improvements to Topic 842, Leases” and ASU 2018-11, “Leases (Topic 842): Targeted Improvements” (collectively referred to as the “lease standard”): We will adopt the lease standard on January 1, 2019 using the optional transition method to apply the new guidance prospectively as of January 1, 2019, rather than as of the earliest period presented. The adoption of the lease standard will have a material impact on our balance sheet at January 1, 2019 due to the initial recognition of ROU assets and lease liabilities for operating leases. The following table shows the expected increase (decrease) from adoption of the lease standard on our balance sheet at January 1, 2019. EXPECTED IMPACT FROM ADOPTION OF THE LEASE STANDARD (Dollars in millions) Right-of-use assets – operating leases $ 191 Deferred income taxes (3 ) Property, plant and equipment, net (1) (147 ) Other current liabilities 3 Long-term debt (138 ) Other long-term liabilities 159 Retained earnings (2) 17 (1) Included in Other Assets. (2) Included in Shareholders’ Equity. As a result of the adoption of the lease standard, we will derecognize our corporate headquarters building lease in accordance with the transition provisions for build-to-suit arrangements. On a prospective basis, we will account for the corporate headquarters building lease as an operating lease. The expected impact is included in the above table. ASU 2017-07, “Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost”: We adopted the standard on January 1, 2018 and elected the practical expedient available under the transition guidance. Upon adoption of ASU 2017-07, our Condensed Statements of Operations were impacted as follows: IMPACT FROM ADOPTION OF ASU 2017-07 (Dollars in millions) Years ended December 31, 2017 2016 As previously reported Effect of adoption As adjusted As previously reported Effect of adoption As adjusted Sempra Energy: Operation and maintenance $ (87 ) $ 7 $ (80 ) $ (81 ) $ 5 $ (76 ) Other income (expense), net 107 (7 ) 100 (2 ) (5 ) (7 ) ASU 2018-02, “Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income”: We will adopt ASU 2018-02 on January 1, 2019 and will reclassify the income tax effects of the TCJA from AOCI to retained earnings. We expect the impact from adoption of ASU 2018-02 on January 1, 2019 to be an increase of $14 million |
SIGNIFICANT ACCOUNTING POLICI_3
SIGNIFICANT ACCOUNTING POLICIES AND OTHER FINANCIAL DATA (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Schedule of Prior Period Adjustments | The following table summarizes the financial statement line items that were affected by this reclassification: SEMPRA ENERGY – RECLASSIFICATION (Dollars in millions) Years ended December 31, 2017 2016 As previously presented As currently presented As previously presented As currently presented Consolidated Statements of Operations: Equity earnings, before income tax $ 34 $ — $ 6 $ — Income before income taxes and equity earnings of certain unconsolidated subsidiaries 1,585 — 1,830 — Income before income taxes and equity earnings of unconsolidated entities — 1,551 — 1,824 Equity earnings, net of income tax 42 — 78 — Equity earnings — 76 — 84 |
Schedule of Cash, Cash Equivalents and Restricted Cash | The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported on the Consolidated Balance Sheets to the sum of such amounts reported on the Consolidated Statements of Cash Flows. RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH (Dollars in millions) At December 31, 2018 2017 Sempra Energy Consolidated: Cash and cash equivalents $ 190 $ 288 Restricted cash, current 35 62 Restricted cash, noncurrent 21 14 Total cash, cash equivalents and restricted cash on the Consolidated Statements of Cash Flows $ 246 $ 364 SDG&E: Cash and cash equivalents $ 8 $ 12 Restricted cash, current 11 6 Restricted cash, noncurrent 18 11 Total cash, cash equivalents and restricted cash on the Consolidated Statements of Cash Flows $ 37 $ 29 |
Schedule Of Receivables Collection Allowances | We record allowances for the collection of trade and other accounts and notes receivable, which include allowances for doubtful customer accounts and for other receivables. We show the changes in these allowances in the table below: COLLECTION ALLOWANCES (Dollars in millions) Years ended December 31, 2018 2017 2016 Sempra Energy Consolidated: Allowances for collection of receivables at January 1 $ 33 $ 35 $ 32 Provisions for uncollectible accounts 14 16 23 Write-offs of uncollectible accounts (17 ) (18 ) (20 ) Allowances for collection of receivables at December 31 $ 30 $ 33 $ 35 SDG&E: Allowances for collection of receivables at January 1 $ 9 $ 8 $ 9 Provisions for uncollectible accounts 9 8 6 Write-offs of uncollectible accounts (7 ) (7 ) (7 ) Allowances for collection of receivables at December 31 $ 11 $ 9 $ 8 SoCalGas: Allowances for collection of receivables at January 1 $ 16 $ 21 $ 17 Provisions for uncollectible accounts 1 4 14 Write-offs of uncollectible accounts (7 ) (9 ) (10 ) Allowances for collection of receivables at December 31 $ 10 $ 16 $ 21 |
Schedule of Inventory | The components of inventories by segment are as follows: INVENTORY BALANCES AT DECEMBER 31 (Dollars in millions) Natural gas LNG Materials and supplies Total 2018 2017 2018 2017 2018 2017 2018 2017 SDG&E $ — $ 4 $ — $ — $ 102 $ 101 $ 102 $ 105 SoCalGas 92 75 — — 42 49 134 124 Sempra South American Utilities — — — — 38 30 38 30 Sempra Mexico — — 4 7 15 2 19 9 Sempra Renewables — — — — — 5 — 5 Sempra LNG & Midstream 3 30 — 4 — — 3 34 Sempra Energy Consolidated $ 95 $ 109 $ 4 $ 11 $ 197 $ 187 $ 296 $ 307 |
Schedule of Property, Plant and Equipment | PROPERTY, PLANT AND EQUIPMENT BY MAJOR FUNCTIONAL CATEGORY (Dollars in millions) PP&E at Depreciation rates for 2018 2017 2018 2017 2016 SDG&E: Natural gas operations $ 2,382 $ 2,186 2.44 % 2.40 % 2.40 % Electric distribution 7,462 6,975 3.91 3.92 3.86 Electric transmission (1) 6,222 5,626 2.76 2.71 2.66 Electric generation (2) 2,967 2,435 4.12 4.05 4.00 Other electric (3) 1,408 1,114 6.43 5.54 5.66 Construction work in progress (1) 1,221 1,451 NA NA NA Total SDG&E 21,662 19,787 SoCalGas: Natural gas operations (4) 17,268 15,759 3.60 3.63 3.64 Other non-utility 34 32 5.39 5.28 6.55 Construction work in progress 836 981 NA NA NA Total SoCalGas 18,138 16,772 Estimated Weighted-average Other operating units and parent (5) : useful lives useful life Land and land rights 429 416 16 to 50 years (6) 30 Machinery and equipment: Utility electric distribution operations 1,977 1,751 10 to 45 years 41 Generating plants 1,051 2,242 5 to 100 years 30 LNG terminals 1,134 1,133 43 years 43 Pipelines and storage 3,413 4,408 5 to 50 years 41 Other 205 269 1 to 50 years 7 Construction work in progress 684 691 NA NA Other (7) 622 639 3 to 80 years 31 9,515 11,549 Total Sempra Energy Consolidated $ 49,315 $ 48,108 (1) At December 31, 2018 , includes $457 million in electric transmission assets and $26 million in construction work in progress related to SDG&E’s 92 -percent interest in the Southwest Powerlink transmission line, jointly owned by SDG&E with other utilities. SDG&E, and each of the other owners, holds its undivided interest as a tenant in common in the property. Each owner is responsible for its share of the project and participates in decisions concerning operations and capital expenditures. SDG&E’s share of operating expenses is included in Sempra Energy’s and SDG&E’s Consolidated Statements of Operations. (2) Includes capital lease assets of $1.3 billion and $757 million at December 31, 2018 and 2017 , respectively. (3) Includes capital lease assets of $13 million and $22 million at December 31, 2018 and 2017 , respectively. (4) Includes capital lease assets of $40 million and $34 million at December 31, 2018 and 2017 , respectively. (5) Includes $154 million and $145 million at December 31, 2018 and 2017 , respectively, of utility plant, primarily pipelines and other distribution assets at Ecogas. (6) Estimated useful lives are for land rights. (7) Includes capital lease assets of $136 million and associated leasehold improvements of $24 million at both December 31, 2018 and 2017 related to a build-to-suit lease. DEPRECIATION EXPENSE (Dollars in millions) Years ended December 31, 2018 2017 2016 Sempra Energy Consolidated $ 1,528 $ 1,422 $ 1,236 SDG&E 686 621 583 SoCalGas 553 514 474 ACCUMULATED DEPRECIATION (Dollars in millions) December 31, 2018 2017 SDG&E: Accumulated depreciation: Electric (1) $ 4,558 $ 4,193 Natural gas 794 756 Total SDG&E 5,352 4,949 SoCalGas: Accumulated depreciation of natural gas utility plant in service (2) 5,685 5,352 Accumulated depreciation – other non-utility 14 14 Total SoCalGas 5,699 5,366 Other operating units and parent and other: Accumulated depreciation – other (3) 1,125 972 Accumulated depreciation of utility electric distribution operations 343 318 1,468 1,290 Total Sempra Energy Consolidated $ 12,519 $ 11,605 (1) Includes accumulated depreciation for capital lease assets of $48 million and $47 million at December 31, 2018 and 2017 , respectively. Includes $252 million at December 31, 2018 related to SDG&E’s 92 -percent interest in the Southwest Powerlink transmission line, jointly owned by SDG&E and other utilities. (2) Includes accumulated depreciation for capital lease assets of $37 million and $33 million at December 31, 2018 and 2017 , respectively. (3) Includes accumulated depreciation for capital lease assets of $10 million and $7 million and for associated leasehold improvements of $3 million and $2 million at December 31, 2018 and 2017 , respectively, related to a build-to-suit lease. Includes $43 million and $39 million at December 31, 2018 and 2017 |
Schedule Of Capitalized Financing Costs | Interest capitalized and AFUDC are as follows: CAPITALIZED FINANCING COSTS (Dollars in millions) Years ended December 31, 2018 2017 2016 Sempra Energy Consolidated $ 202 $ 256 $ 236 SDG&E 82 85 62 SoCalGas 48 60 55 |
Schedule Of Goodwill | Changes in the carrying amount of goodwill on the Sempra Energy Consolidated Balance Sheets are as follows: GOODWILL (Dollars in millions) Sempra South American Utilities Sempra Mexico Total Balance at December 31, 2016 $ 749 $ 1,615 $ 2,364 Acquisition of business – measurement period adjustment — (13 ) (13 ) Foreign currency translation (1) 46 — 46 Balance at December 31, 2017 795 1,602 2,397 Acquisition of business 38 — 38 Foreign currency translation (1) (62 ) — (62 ) Balance at December 31, 2018 $ 771 $ 1,602 $ 2,373 (1) |
Schedule Of Other Intangible Assets | Other Intangible Assets included on the Sempra Energy Consolidated Balance Sheets are as follows: OTHER INTANGIBLE ASSETS (Dollars in millions) Amortization period (years) December 31, 2018 2017 Development rights 50 $ — $ 322 Renewable energy transmission and consumption permit 19 154 154 Storage rights 46 — 138 O&M agreement 23 66 66 Concession permits Indefinite 50 — Other 10 years to indefinite 28 18 298 698 Less accumulated amortization: Development rights — (60 ) Renewable energy transmission and consumption permit (16 ) (8 ) Storage rights — (28 ) O&M agreement (3 ) — Other (7 ) (6 ) (26 ) (102 ) $ 272 $ 596 |
Schedule Of Variable Interest Entities | AMOUNTS ASSOCIATED WITH TAX EQUITY ARRANGEMENTS (Dollars in millions) December 31, 2018 2017 Cash and cash equivalents $ 7 $ 23 Accounts receivable – trade, net 2 5 Inventories — 1 Other 1 1 Total current assets 10 30 Sundry — 2 Property, plant and equipment, net 286 1,412 Total assets 296 1,444 Accounts payable 2 42 Other 1 1 Total current liabilities 3 43 Asset retirement obligations 6 40 Deferred income taxes 7 10 Deferred credits and other — 1 Total liabilities 16 94 Other noncontrolling interests 158 631 Net assets less other noncontrolling interests $ 122 $ 719 Years ended December 31, 2018 2017 2016 REVENUES Energy-related businesses $ 92 $ 61 $ 2 EXPENSES Operation and maintenance (16 ) (9 ) (1 ) Depreciation and amortization (47 ) (32 ) — Income before income taxes 29 20 1 Income tax expense (18 ) (4 ) — Net income 11 16 1 Losses attributable to noncontrolling interests (1) 58 23 4 Earnings $ 69 $ 39 $ 5 (1) AMOUNTS ASSOCIATED WITH OTAY MESA VIE (Dollars in millions) December 31, 2018 2017 Cash and cash equivalents $ — $ 4 Restricted cash 11 6 Inventories 4 4 Other 2 1 Total current assets 17 15 Restricted cash 18 11 Property, plant and equipment, net 295 321 Total assets $ 330 $ 347 Current portion of long-term debt $ 28 $ 10 Fixed-price contracts and other derivatives 1 10 Other 3 5 Total current liabilities 32 25 Long-term debt 190 284 Fixed-price contracts and other derivatives — 3 Deferred credits and other 8 7 Noncontrolling interest 100 28 Total liabilities and equity $ 330 $ 347 Years ended December 31, 2018 2017 2016 Operating expenses Cost of electric fuel and purchased power $ (75 ) $ (79 ) $ (79 ) Operation and maintenance 17 17 29 Depreciation and amortization 30 28 35 Total operating expenses (28 ) (34 ) (15 ) Operating income 28 34 15 Other income 2 2 — Interest expense (23 ) (22 ) (20 ) Income (loss) before income taxes/Net income (loss) 7 14 (5 ) (Earnings) losses attributable to noncontrolling interest (7 ) (14 ) 5 Earnings attributable to common shares $ — $ — $ — |
Schedule Of Asset Retirement Obligations | The changes in ARO are as follows: CHANGES IN ASSET RETIREMENT OBLIGATIONS (Dollars in millions) Sempra Energy Consolidated SDG&E SoCalGas 2018 2017 2018 2017 2018 2017 Balance as of January 1 (1) $ 2,877 $ 2,553 $ 839 $ 830 $ 1,953 $ 1,659 Accretion expense 121 109 39 39 78 66 Liabilities incurred 7 34 — 17 — — Deconsolidation and reclassification (2) (61 ) — — — — — Payments (42 ) (63 ) (39 ) (61 ) (3 ) (2 ) Revisions (3) 71 244 35 14 35 230 Balance at December 31 (1) $ 2,973 $ 2,877 $ 874 $ 839 $ 2,063 $ 1,953 (1) Current portion of the ARO for Sempra Energy Consolidated is included in Other Current Liabilities on the Consolidated Balance Sheets. (2) In 2018, we reclassified $6 million at Sempra Renewables and $8 million at Sempra LNG & Midstream to Liabilities Held for Sale, and $5 million related to TdM from Liabilities Held for Sale, and deconsolidated $52 million at Sempra Renewables, as we discuss in Note 5. (3) |
Schedule Of Changes In Accumulated Other Comprehensive Income By Component | The following tables present the changes in AOCI by component and amounts reclassified out of AOCI to net income, excluding amounts attributable to NCI: CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) BY COMPONENT (1) (Dollars in millions) Foreign currency translation adjustments Financial instruments Pension and other postretirement benefits Total accumulated other comprehensive income (loss) Sempra Energy Consolidated: Balance as of December 31, 2015 $ (582 ) $ (137 ) $ (87 ) $ (806 ) OCI before reclassifications 42 (7 ) (15 ) 20 Amounts reclassified from AOCI (2) 13 19 6 38 Net OCI 55 12 (9 ) 58 Balance as of December 31, 2016 (527 ) (125 ) (96 ) (748 ) OCI before reclassifications 107 (4 ) — 103 Amounts reclassified from AOCI — 7 12 19 Net OCI 107 3 12 122 Balance as of December 31, 2017 (420 ) (122 ) (84 ) (626 ) Cumulative-effect adjustment from change in accounting principle (3) — (3 ) — (3 ) OCI before reclassifications (144 ) 40 (52 ) (156 ) Amounts reclassified from AOCI — 3 18 21 Net OCI (144 ) 43 (34 ) (135 ) Balance as of December 31, 2018 $ (564 ) $ (82 ) $ (118 ) $ (764 ) SDG&E: Balance as of December 31, 2015 $ (8 ) $ (8 ) OCI before reclassifications (1 ) (1 ) Amounts reclassified from AOCI 1 1 Net OCI — — Balance as of December 31, 2016 (8 ) (8 ) OCI before reclassifications (1 ) (1 ) Amounts reclassified from AOCI 1 1 Net OCI — — Balance as of December 31, 2017 (8 ) (8 ) OCI before reclassifications (6 ) (6 ) Amounts reclassified from AOCI 4 4 Net OCI (2 ) (2 ) Balance as of December 31, 2018 $ (10 ) $ (10 ) SoCalGas: Balance as of December 31, 2015 $ (14 ) $ (5 ) $ (19 ) OCI before reclassifications — (4 ) (4 ) Amounts reclassified from AOCI 1 — 1 Net OCI 1 (4 ) (3 ) Balance as of December 31, 2016 (13 ) (9 ) (22 ) Amounts reclassified from AOCI — 1 1 Net OCI — 1 1 Balance as of December 31, 2017 (13 ) (8 ) (21 ) OCI before reclassifications — (1 ) (1 ) Amounts reclassified from AOCI 1 1 2 Net OCI 1 — 1 Balance as of December 31, 2018 $ (12 ) $ (8 ) $ (20 ) (1) All amounts are net of income tax, if subject to tax, and exclude NCI. (2) Total AOCI includes $20 million associated with the October 2016 sale of NCI, discussed below in “Sale of Noncontrolling Interests – Sempra Mexico – Follow-On Offerings,” which does not impact the Consolidated Statement of Comprehensive Income. (3) |
Schedule Of Reclassifications Out Of Accumulated Other Comprehensive Income | RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Dollars in millions) Details about accumulated other comprehensive income (loss) components Amounts reclassified from accumulated other comprehensive income (loss) Affected line item on Consolidated Statements of Operations Years ended December 31, 2018 2017 2016 Sempra Energy Consolidated: Financial instruments: Interest rate and foreign exchange instruments (1) $ — $ (4 ) $ 17 Interest Expense (2 ) — — Other Income, Net Interest rate instruments 9 — — Gain on Sale of Assets Interest rate and foreign exchange instruments 7 20 15 Equity Earnings Interest rate and foreign exchange instruments — — 7 Remeasurement of Equity Method Investment Foreign exchange instruments (1 ) (2 ) — Revenues: Energy-Related Businesses Commodity contracts not subject to rate recovery — 9 (6 ) Revenues: Energy-Related Businesses Total before income tax 13 23 33 (4 ) (6 ) (6 ) Income Tax Expense Net of income tax 9 17 27 (6 ) (10 ) (15 ) Earnings Attributable to Noncontrolling Interests $ 3 $ 7 $ 12 Pension and other postretirement benefits: Amortization of actuarial loss (2) $ 12 $ 10 $ 10 Other Income, Net Amortization of prior service cost (2) 2 1 1 Other Income, Net Settlements (2) 12 8 — Other Income, Net Total before income tax 26 19 11 (8 ) (7 ) (5 ) Income Tax Expense Net of income tax $ 18 $ 12 $ 6 Total reclassifications for the period, net of tax $ 21 $ 19 $ 18 SDG&E: Financial instruments: Interest rate instruments (1) $ 7 $ 13 $ 12 Interest Expense (7 ) (13 ) (12 ) (Earnings) Losses Attributable to Noncontrolling Interest $ — $ — $ — Pension and other postretirement benefits: Amortization of actuarial loss (2) $ 1 $ 1 $ 1 Other Income, Net Settlements (2) 4 — — Other Income, Net Total before income tax 5 1 1 (1 ) — — Income Tax Expense Net of income tax $ 4 $ 1 $ 1 Total reclassifications for the period, net of tax $ 4 $ 1 $ 1 SoCalGas: Financial instruments: Interest rate instruments $ 1 $ — $ 1 Interest Expense Pension and other postretirement benefits: Amortization of prior service cost (2) $ 1 $ 1 $ — Other Income, Net Total reclassifications for the period, net of tax $ 2 $ 1 $ 1 (1) Amounts include Otay Mesa VIE. All of SDG&E’s interest rate derivative activity relates to Otay Mesa VIE. (2) Amounts are included in the computation of net periodic benefit cost (see “Net Periodic Benefit Cost” in Note 9 |
Schedule Of Noncontrolling Interests | The following table provides information about noncontrolling ownership interests held by others (not including preferred shareholders) recorded in Other Noncontrolling Interests in Total Equity on Sempra Energy’s Consolidated Balance Sheets: OTHER NONCONTROLLING INTERESTS (Dollars in millions) Percent ownership held by noncontrolling interests Equity (deficit) held by noncontrolling interests December 31, December 31, 2018 2017 2018 2017 SDG&E: Otay Mesa VIE 100 % 100 % $ 100 $ 28 Sempra South American Utilities: Chilquinta Energía subsidiaries (1) 19.7 - 43.4 22.9 - 43.4 23 24 Luz del Sur 16.4 16.4 193 189 Tecsur 9.8 9.8 4 4 Sempra Mexico: IEnova (2)(3) 33.5 33.6 1,605 1,532 Sempra Renewables: Tax equity arrangements – wind (4) NA NA 158 181 Tax equity arrangements – solar (4) — NA — 450 PXiSE Energy Solutions, LLC 11.1 — 1 — Sempra LNG & Midstream: Bay Gas 9.1 9.1 18 28 Liberty Gas Storage, LLC 24.6 24.6 (12 ) 14 Total Sempra Energy $ 2,090 $ 2,450 (1) Chilquinta Energía has four subsidiaries with NCI held by others. Percentage range reflects the highest and lowest ownership percentages among these subsidiaries. (2) IEnova has a subsidiary with a 10 -percent NCI held by others. The equity held by NCI is negligible at both December 31, 2018 and 2017. (3) IEnova has a subsidiary with a 49 -percent NCI held by others. The equity held by NCI is $13 million at December 31, 2018. (4) |
Schedule of Related Party Transactions | We summarize amounts due from and to unconsolidated affiliates at Sempra Energy Consolidated, SDG&E and SoCalGas in the following table. AMOUNTS DUE FROM (TO) UNCONSOLIDATED AFFILIATES (Dollars in millions) December 31, 2018 2017 Sempra Energy Consolidated: Total due from various unconsolidated affiliates – current $ 39 $ 37 Sempra South American Utilities (1) : Eletrans – 4% Note (2) $ 43 $ 103 Other related party receivables 1 1 Sempra Mexico (1) : IMG – Note due March 15, 2022 (3) 641 487 Energía Sierra Juárez – Note (4) 3 7 Total due from unconsolidated affiliates – noncurrent $ 688 $ 598 Total due to various unconsolidated affiliates – current $ (10 ) $ (7 ) Sempra Mexico (1) : Total due to unconsolidated affiliates – noncurrent – TAG – Note due December 20, 2021 (5) $ (37 ) $ (35 ) SDG&E: Sempra Energy $ (43 ) $ (30 ) SoCalGas (6 ) (4 ) Various affiliates (12 ) (6 ) Total due to unconsolidated affiliates – current $ (61 ) $ (40 ) Income taxes due from Sempra Energy (6) $ 5 $ 27 SoCalGas: SDG&E $ 6 $ 4 Various affiliates 1 — Total due from unconsolidated affiliates – current $ 7 $ 4 Total due to unconsolidated affiliates – current – Sempra Energy $ (34 ) $ (35 ) Income taxes due (to) from Sempra Energy (6) $ (4 ) $ 10 (1) Amounts include principal balances plus accumulated interest outstanding. (2) U.S. dollar-denominated loan, at a fixed interest rate with no stated maturity date, to provide project financing for the construction of transmission lines at Eletrans, comprising JVs of Chilquinta Energía. (3) Mexican peso-denominated revolving line of credit for up to 14.2 billion Mexican pesos or approximately $721 million U.S. dollar-equivalent, at a variable interest rate based on the 91-day Interbank Equilibrium Interest Rate plus 220 bps ( 10.84 percent at December 31, 2018 ), to finance construction of the natural gas marine pipeline. (4) U.S. dollar-denominated loan, at a variable interest rate based on the 30-day LIBOR plus 637.5 bps ( 8.89 percent at December 31, 2018 ) with no stated maturity date, to finance the first phase of the Energía Sierra Juárez wind project, which is a joint venture of IEnova. (5) U.S. dollar-denominated loan, at a variable interest rate based on 6-month LIBOR plus 290 bps ( 5.77 percent at December 31, 2018 ). (6) S DG&E and SoCalGas are included in the consolidated income tax return of Sempra Energy and are allocated income tax expense from Sempra Energy in an amount equal to that which would result from each company having always filed a separate return. The following table summarizes revenues and cost of sales from unconsolidated affiliates. REVENUES AND COST OF SALES FROM UNCONSOLIDATED AFFILIATES (Dollars in millions) Years ended December 31, 2018 2017 2016 Revenues: Sempra Energy Consolidated $ 64 $ 43 $ 25 SDG&E 5 8 7 SoCalGas 64 74 76 Cost of Sales: Sempra Energy Consolidated $ 46 $ 47 $ 72 SDG&E 73 71 64 |
Schedule Of Other Income (Expense) | Other Income, Net on the Consolidated Statements of Operations consists of the following: OTHER INCOME, NET (Dollars in millions) Years ended December 31, 2018 2017 (1) 2016 (1) Sempra Energy Consolidated: Allowance for equity funds used during construction $ 98 $ 168 $ 116 Investment (losses) gains (2) (6 ) 56 23 Gains (losses) on interest rate and foreign exchange instruments, net 7 47 (32 ) Foreign currency transaction losses (3) (5 ) (35 ) (1 ) Non-service component of net periodic benefit (cost) credit (37 ) (21 ) 6 Electrical infrastructure relocation income 7 3 10 Interest on regulatory balancing accounts, net 2 3 4 Sundry, net 6 12 12 Total $ 72 $ 233 $ 138 SDG&E: Allowance for equity funds used during construction $ 61 $ 63 $ 46 Non-service component of net periodic benefit (cost) credit (6 ) 4 14 Interest on regulatory balancing accounts, net 4 3 3 Sundry, net (3 ) — 1 Total $ 56 $ 70 $ 64 SoCalGas: Allowance for equity funds used during construction $ 36 $ 44 $ 40 Non-service component of net periodic benefit (cost) credit (10 ) (5 ) 6 Interest on regulatory balancing accounts, net (2 ) — 1 Sundry, net (9 ) (8 ) (9 ) Total $ 15 $ 31 $ 38 (1) As adjusted for the retrospective adoption of ASU 2017-07, which we discuss in Note 2 . (2) Represents investment (losses) gains on dedicated assets in support of our executive retirement and deferred compensation plans. These amounts are partially offset by corresponding changes in compensation expense related to the plans, recorded in O&M on the Consolidated Statements of Operations. (3) Includes losses of $3 million and $35 million in 2018 and 2017, respectively, |
NEW ACCOUNTING STANDARDS NEW AC
NEW ACCOUNTING STANDARDS NEW ACCOUNTING STANDARDS (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Accounting Changes and Error Corrections [Abstract] | |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles | Upon adoption of ASU 2017-07, our Consolidated Statements of Operations were impacted as follows: IMPACT FROM ADOPTION OF ASU 2017-07 (Dollars in millions) Years ended December 31, 2017 2016 As previously reported Effect of adoption As adjusted As previously reported Effect of adoption As adjusted Sempra Energy: Operation and maintenance $ 3,117 $ (21 ) $ 3,096 $ 2,970 $ 6 $ 2,976 Other income, net 254 (21 ) 233 132 6 138 SDG&E: Operation and maintenance $ 1,020 $ 4 $ 1,024 $ 1,048 $ 14 $ 1,062 Total operating expenses 3,763 4 3,767 3,263 14 3,277 Operating income 713 (4 ) 709 990 (14 ) 976 Other income, net 66 4 70 50 14 64 SoCalGas: Operation and maintenance $ 1,479 $ (5 ) $ 1,474 $ 1,385 $ 6 $ 1,391 Total operating expenses 3,163 (5 ) 3,158 2,914 6 2,920 Operating income 622 5 627 557 (6 ) 551 Other income, net 36 (5 ) 31 32 6 38 EXPECTED IMPACT FROM ADOPTION OF THE LEASE STANDARD (Dollars in millions) Sempra Energy Consolidated SDG&E SoCalGas Other current assets $ (68 ) $ — $ — Property, plant and equipment, net (147 ) — — Right-of-use assets – operating leases 623 130 116 Deferred income taxes (3 ) — — Other current liabilities 81 20 23 Long-term debt (138 ) — — Deferred credits and other 445 110 93 Retained earnings 17 — — EXPECTED IMPACT FROM ADOPTION OF THE LEASE STANDARD (Dollars in millions) Right-of-use assets – operating leases $ 191 Deferred income taxes (3 ) Property, plant and equipment, net (1) (147 ) Other current liabilities 3 Long-term debt (138 ) Other long-term liabilities 159 Retained earnings (2) 17 (1) Included in Other Assets. (2) Included in Shareholders’ Equity. IMPACT FROM ADOPTION OF ASU 2017-07 (Dollars in millions) Years ended December 31, 2017 2016 As previously reported Effect of adoption As adjusted As previously reported Effect of adoption As adjusted Sempra Energy: Operation and maintenance $ (87 ) $ 7 $ (80 ) $ (81 ) $ 5 $ (76 ) Other income (expense), net 107 (7 ) 100 (2 ) (5 ) (7 ) |
REVENUES (Tables)
REVENUES (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Revenue from Contract with Customer [Abstract] | |
Schedule of Disaggregation of Revenue | The following table disaggregates our revenues from contracts with customers by major service line, market and timing of recognition and provides a reconciliation to total revenues by segment. DISAGGREGATED REVENUES (Dollars in millions) Year ended December 31, 2018 SDG&E SoCalGas Sempra South American Utilities Sempra Mexico Sempra Renewables Sempra LNG & Midstream Consolidating adjustments Sempra Energy Consolidated By major service line: Utilities $ 4,788 $ 3,577 $ 1,507 $ 78 $ — $ — $ (69 ) $ 9,881 Midstream — — — 630 — 224 (138 ) 716 Renewables — — — 108 46 2 (2 ) 154 Other — — 73 203 — 6 (6 ) 276 Revenues from contracts with customers $ 4,788 $ 3,577 $ 1,580 $ 1,019 $ 46 $ 232 $ (215 ) $ 11,027 By market: Electric $ 4,297 $ — $ 1,580 $ 308 $ 46 $ 8 $ (12 ) $ 6,227 Gas 491 3,577 — 711 — 224 (203 ) 4,800 Revenues from contracts with customers $ 4,788 $ 3,577 $ 1,580 $ 1,019 $ 46 $ 232 $ (215 ) $ 11,027 By timing of recognition: Over time $ 4,677 $ 3,454 $ 1,554 $ 1,019 $ 46 $ 210 $ (204 ) $ 10,756 Point in time 111 123 26 — — 22 (11 ) 271 Revenues from contracts with customers $ 4,788 $ 3,577 $ 1,580 $ 1,019 $ 46 $ 232 $ (215 ) $ 11,027 Revenues from contracts with customers $ 4,788 $ 3,577 $ 1,580 $ 1,019 $ 46 $ 232 $ (215 ) $ 11,027 Utilities regulatory revenues (220 ) 385 — — — — — 165 Other revenues — — 5 357 78 240 (185 ) 495 Total revenues $ 4,568 $ 3,962 $ 1,585 $ 1,376 $ 124 $ 472 $ (400 ) $ 11,687 |
Schedule of Timing of Remaining Performance Obligations | For contracts greater than one year, at December 31, 2018, we expect to recognize revenue related to the fixed fee component of the consideration as shown below. Sempra Energy’s remaining performance obligations primarily relate to capacity agreements for natural gas storage and transportation at Sempra Mexico. SoCalGas did not have any remaining performance obligations at December 31, 2018. REMAINING PERFORMANCE OBLIGATIONS (1) (Dollars in millions) Sempra Energy Consolidated SDG&E 2019 $ 540 $ 3 2020 534 3 2021 529 3 2022 528 3 2023 516 3 Thereafter 2,813 52 Total revenues to be recognized $ 5,460 $ 67 (1) Excludes intercompany transactions. |
Schedule of Contract Liabilities | Activities within Sempra Energy’s contract liabilities are presented below. There were no contract liability activities at SDG&E or SoCalGas for the year ended December 31, 2018 . CONTRACT LIABILITIES (Dollars in millions) Opening balance, January 1, 2018 $ — Adoption of ASC 606 adjustment (68 ) Revenue from performance obligations satisfied during reporting period 31 Payments received in advance (39 ) Closing balance, December 31, 2018 (1) $ (76 ) (1) I ncludes $6 million in Other Current Liabilities, a negligible amount in Liabilities Held for Sale and $70 million |
Schedule of Contract Accounts Receivable | The table below shows receivable balances associated with revenues from contracts with customers on our Consolidated Balance Sheets. RECEIVABLES FROM REVENUES FROM CONTRACTS WITH CUSTOMERS (Dollars in millions) December 31, 2018 January 1, 2018 Sempra Energy Consolidated: Accounts receivable – trade, net $ 1,333 $ 1,194 Accounts receivable – other, net 11 10 Due from unconsolidated affiliates – current (1) 4 8 Assets held for sale 6 — Total $ 1,354 $ 1,212 SDG&E: Accounts receivable – trade, net $ 368 $ 362 Accounts receivable – other, net 6 3 Due from unconsolidated affiliates – current (1) 3 3 Total $ 377 $ 368 SoCalGas: Accounts receivable – trade, net $ 634 $ 517 Accounts receivable – other, net 5 7 Total $ 639 $ 524 (1) A |
REGULATORY MATTERS (Tables)
REGULATORY MATTERS (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Regulated Operations [Abstract] | |
Schedule of Regulatory Assets | We show the details of regulatory assets and liabilities in the following table and discuss them below. REGULATORY ASSETS (LIABILITIES) (Dollars in millions) December 31, 2018 2017 SDG&E: Fixed-price contracts and other derivatives $ (150 ) $ 96 Deferred income taxes refundable in rates (236 ) (281 ) Pension and other postretirement benefit plan obligations 186 153 Removal obligations (1,848 ) (1,846 ) Unamortized loss on reacquired debt 7 9 Environmental costs 28 29 Sunrise Powerlink fire mitigation 120 119 Regulatory balancing accounts (1) Commodity – electric (8 ) 82 Gas transportation 45 22 Safety and reliability 70 48 Public purpose programs (62 ) (70 ) Other balancing accounts 145 233 Other regulatory liabilities, net (2) (177 ) (70 ) Total SDG&E (1,880 ) (1,476 ) SoCalGas: Pension and other postretirement benefit plan obligations 470 513 Employee benefit costs 49 45 Removal obligations (833 ) (924 ) Deferred income taxes refundable in rates (336 ) (437 ) Unamortized loss on reacquired debt 7 8 Environmental costs 28 22 Workers’ compensation 9 12 Regulatory balancing accounts (1) Commodity – gas, including transportation 196 151 Safety and reliability 332 266 Public purpose programs (325 ) (274 ) Other balancing accounts (68 ) (114 ) Other regulatory liabilities, net (2) (130 ) (64 ) Total SoCalGas (601 ) (796 ) Sempra Mexico: Deferred income taxes recoverable in rates 81 83 Other regulatory assets 6 — Total Sempra Energy Consolidated $ (2,394 ) $ (2,189 ) (1) At December 31, 2018 and 2017 , the noncurrent portion of regulatory balancing accounts – net undercollected for SDG&E was $78 million and $63 million , respectively. At December 31, 2018 and 2017 , the noncurrent portion of regulatory balancing accounts – net undercollected for SoCalGas was $185 million and $118 million , respectively. (2) Includes regulatory assets earning a rate of return. |
Schedule of Regulatory Liabilities | We show the details of regulatory assets and liabilities in the following table and discuss them below. REGULATORY ASSETS (LIABILITIES) (Dollars in millions) December 31, 2018 2017 SDG&E: Fixed-price contracts and other derivatives $ (150 ) $ 96 Deferred income taxes refundable in rates (236 ) (281 ) Pension and other postretirement benefit plan obligations 186 153 Removal obligations (1,848 ) (1,846 ) Unamortized loss on reacquired debt 7 9 Environmental costs 28 29 Sunrise Powerlink fire mitigation 120 119 Regulatory balancing accounts (1) Commodity – electric (8 ) 82 Gas transportation 45 22 Safety and reliability 70 48 Public purpose programs (62 ) (70 ) Other balancing accounts 145 233 Other regulatory liabilities, net (2) (177 ) (70 ) Total SDG&E (1,880 ) (1,476 ) SoCalGas: Pension and other postretirement benefit plan obligations 470 513 Employee benefit costs 49 45 Removal obligations (833 ) (924 ) Deferred income taxes refundable in rates (336 ) (437 ) Unamortized loss on reacquired debt 7 8 Environmental costs 28 22 Workers’ compensation 9 12 Regulatory balancing accounts (1) Commodity – gas, including transportation 196 151 Safety and reliability 332 266 Public purpose programs (325 ) (274 ) Other balancing accounts (68 ) (114 ) Other regulatory liabilities, net (2) (130 ) (64 ) Total SoCalGas (601 ) (796 ) Sempra Mexico: Deferred income taxes recoverable in rates 81 83 Other regulatory assets 6 — Total Sempra Energy Consolidated $ (2,394 ) $ (2,189 ) (1) At December 31, 2018 and 2017 , the noncurrent portion of regulatory balancing accounts – net undercollected for SDG&E was $78 million and $63 million , respectively. At December 31, 2018 and 2017 , the noncurrent portion of regulatory balancing accounts – net undercollected for SoCalGas was $185 million and $118 million , respectively. (2) Includes regulatory assets earning a rate of return. |
Proposed Revenue Requirements | In October 2017, the CPUC approved the embedded cost of debt presented in advice letters filed by SDG&E and SoCalGas, resulting in a revised return on rate base for SDG&E of 7.55 percent and for SoCalGas of 7.34 percent , effective January 1, 2018, as depicted in the table below: AUTHORIZED COST OF CAPITAL AND RATE STRUCTURE – CPUC SDG&E SoCalGas Authorized weighting Return on rate base Weighted rate base Authorized weighting Return on Weighted 45.25 % 4.59 % 2.08 % Long-Term Debt 45.60 % 4.33 % 1.97 % 2.75 6.22 0.17 Preferred Stock 2.40 6.00 0.14 52.00 10.20 5.30 Common Equity 52.00 10.05 5.23 100.00 % 7.55 % 100.00 % 7.34 % The changes to the embedded cost of debt and return on rate base resulting from the updates included in the filed advice letters are summarized below: CHANGES TO THE EMBEDDED COST OF DEBT SDG&E SoCalGas Cost of debt Return on rate base Cost of Return on Previously 5.00 % 7.79 % 5.77 % 8.02 % Authorized, effective January 1, 2018 4.59 % 7.55 % 4.33 % 7.34 % Differences (41 ) bps (24 ) bps (144 ) bps (68 ) bps |
Schedule Of FERC Cost Of Capital Table | SDG&E’s current estimated FERC return on rate base under the TO4 formula rate request filing is 7.51 percent based on its capital structure as follows: SDG&E COST OF CAPITAL AND RATE STRUCTURE – FERC Weighting Return on rate base Weighted return on rate base Long-Term Debt 43.44 % 4.21 % 1.83 % Common Equity 56.56 10.05 5.68 100.00 % 7.51 % |
ACQUISTION AND DIVESTITURE AC_2
ACQUISTION AND DIVESTITURE ACTIVITY (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Business Combinations [Abstract] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table sets forth the allocation of the total purchase price paid to the identifiable assets acquired and liabilities assumed. PURCHASE PRICE ALLOCATION (Dollars in millions) At March 9, 2018 (1) Assets acquired: Accounts receivable – other, net $ 1 Due from unconsolidated affiliates 46 Investment in Oncor Holdings 9,227 Deferred income tax assets 287 Other noncurrent assets 109 Total assets acquired 9,670 Liabilities assumed: Other current liabilities 23 Pension and other postretirement benefit plan obligations 21 Deferred credits and other 58 Total liabilities assumed 102 Net assets acquired $ 9,568 Total purchase price paid $ 9,568 (1) In the fourth quarter of 2018, we received additional information regarding deferred income taxes related to the resolution of claims in EFH’s emergence from bankruptcy as of the acquisition date. As a result, we recorded an adjustment to increase our investment in Oncor Holdings by $64 million , decrease deferred income tax assets by $66 million and decrease deferred credits and other liabilities by $2 million . Also in the fourth quarter of 2018, we recorded $2 million of additional purchase price paid related to additional PRELIMINARY PURCHASE PRICE ALLOCATION (Dollars in millions) At December 18, 2018 Assets acquired: Cash and cash equivalents $ 18 Other assets 5 Other intangible assets 46 Property, plant and equipment 162 Total assets acquired 231 Liabilities assumed: Other current liabilities 1 Deferred income taxes 42 Total liabilities assumed 43 Total identifiable net assets acquired 188 Goodwill 38 Total purchase price paid $ 226 |
Schedule of Proforma Information Table | The following table represents unaudited pro forma information for the years ended December 31, 2018 and 2017, combining the historical results of operations of Sempra Energy and CTNG as though the acquisition occurred on January 1, 2017. The pro forma information is not necessarily indicative of results that would have been achieved had the business been combined during the periods presented or the results that we would expect going forward. UNAUDITED PRO FORMA INFORMATION – SEMPRA ENERGY CONSOLIDATED (Dollars in millions) Years ended December 31, 2018 2017 Total revenues $ 11,703 $ 11,224 Net income 1,130 356 Earnings attributable to common shares 928 261 |
Schedule of Business Acquisitions Table | The following table summarizes the total fair value of the 2016 business combinations at Sempra Mexico, described below, and the final purchase price allocations of the assets acquired and liabilities assumed at the dates of acquisition: PURCHASE PRICE ALLOCATIONS (Dollars in millions) IEnova Pipelines Ventika At September 26, 2016 (1) At December 14, 2016 (2) Fair value of business combination: Cash consideration (fair value of total consideration) $ 1,144 $ 310 Fair value of equity interest in IEnova Pipelines immediately prior to acquisition 1,144 — Total fair value of business combination $ 2,288 $ 310 Assets acquired: Cash and cash equivalents $ 66 $ — Restricted cash — 68 Accounts receivable 39 14 Other current assets 6 1 Other intangible assets — 154 Deferred income taxes — 36 Regulatory assets 33 — Property, plant and equipment 1,248 673 Other noncurrent assets 1 3 Total assets acquired 1,393 949 Liabilities assumed: Short-term debt — 125 Accounts payable 11 1 Due to unconsolidated affiliates 3 — Current portion of long-term debt 49 7 Fixed-price contracts and other derivatives, current 6 4 Other current liabilities 20 8 Long-term debt 315 478 Asset retirement obligations 5 2 Deferred income taxes 127 120 Fixed-price contracts and other derivatives, noncurrent 19 10 Other noncurrent liabilities 11 — Total liabilities assumed 566 755 Total identifiable net assets acquired 827 194 Goodwill 1,461 116 Total fair value of business combination $ 2,288 $ 310 (1) During the fourth quarter of 2016, we received additional information regarding IEnova Pipelines’ deferred income taxes as of the acquisition date, primarily related to basis differences in IEnova Pipelines’ PP&E. As a result, we recorded measurement period adjustments that resulted in a net increase to goodwill of $86 million , an increase in deferred income tax liabilities of $119 million and $33 million of regulatory assets related to deferred income taxes on AFUDC. (2) During the fourth quarter of 2017, we received additional information regarding Ventika’s deferred income taxes as of the acquisition date, primarily related to net operating loss carryforwards. As a result, we recorded a measurement period adjustment that resulted in a decrease to goodwill and an increase in deferred income tax assets of $13 million |
Schedule Of Assets Held for Sale and Deconsolidation of Subsidiaries Table | The following table summarizes the deconsolidation of certain subsidiaries that have been sold in 2018 and 2016, as we discuss below: DECONSOLIDATION OF SUBSIDIARIES (Dollars in millions) Certain subsidiaries of Sempra Renewables EnergySouth At December 13, 2018 At September 12, 2016 Proceeds from sale, net of transaction costs $ 1,585 $ 304 Cash (7 ) (2 ) Restricted cash (7 ) — Other current assets (14 ) (17 ) Property, plant and equipment, net (1,303 ) (199 ) Other investments (329 ) — Goodwill — (72 ) Other noncurrent assets (24 ) (65 ) Current liabilities 8 25 Long-term debt 70 67 Asset retirement obligations 52 — Other noncurrent liabilities 5 89 Noncontrolling interests 486 — Accumulated other comprehensive income (9 ) — Gain on sale $ 513 $ 130 ASSETS HELD FOR SALE AT DECEMBER 31, 2018 (Dollars in millions) Sempra Renewables Sempra LNG & Midstream Cash and cash equivalents $ 7 $ — Accounts receivable – trade, net 2 5 Accounts receivable – other, net 1 — Other current assets 1 6 Property, plant and equipment, net 366 324 Other noncurrent assets — 1 Total assets held for sale $ 377 $ 336 Accounts payable – trade $ 2 $ 2 Other current liabilities 4 3 Asset retirement obligations 6 8 Total liabilities held for sale $ 12 $ 13 |
INVESTMENTS IN UNCONSOLIDATED_2
INVESTMENTS IN UNCONSOLIDATED ENTITIES (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Investments [Abstract] | |
Schedule Of Equity Method And Other Investments | We provide the carrying values of our investments and earnings (losses) on these investments in the following tables. EQUITY METHOD AND OTHER INVESTMENT BALANCES (Dollars in millions) Percent ownership December 31, December 31, 2018 2017 2018 2017 Sempra Texas Utility: Oncor Holdings (1) 100 % — % $ 9,652 $ — Sempra South American Utilities: Eletrans 50 50 $ 17 $ 16 Sempra Mexico: Energía Sierra Juárez (2) 50 50 43 39 IMG (3) 40 40 328 221 TAG (4) 50 50 376 364 Sempra Renewables: Wind: Auwahi Wind 50 50 38 42 Broken Bow 2 Wind — 50 — 32 Cedar Creek 2 Wind 50 50 69 72 Flat Ridge 2 Wind (5) 50 50 82 255 Fowler Ridge 2 Wind 50 50 45 44 Mehoopany Wind (6) 50 50 57 89 Solar: California solar partnership — 50 — 107 Copper Mountain Solar 2 — 50 — 35 Copper Mountain Solar 3 — 50 — 44 Mesquite Solar 1 — 50 — 81 Other — 12 Sempra LNG & Midstream: Cameron LNG JV (7) 50.2 50.2 1,271 997 Parent and other: RBS Sempra Commodities 49 49 — 67 Total equity method investments 2,326 2,517 Other 11 10 Total other investments $ 2,337 $ 2,527 (1) The carrying value of our equity method investment is $2,814 million higher than the underlying equity in the net assets of the investee due to $2,868 million of equity method goodwill and $69 million in basis differences in AOCI, offset by $123 million due to a tax sharing liability to TTI under the tax sharing agreement. (2) The carrying value of our equity method investment is $12 million higher than the underlying equity in the net assets of the investee due to the remeasurement of our retained investment to fair value in 2014. (3) The carrying value of our equity method investment is $5 million higher than the underlying equity in the net assets of the investee due to guarantees, which we discuss below. (4) The carrying value of our equity method investment is $ 130 million higher than the underlying equity in the net assets of the investee due to equity method goodwill. (5) The carrying value of our equity method investment is $169 million lower than the underlying equity in the net assets of the investee due to an other-than-temporary impairment recorded in 2018. (6) The carrying value of our equity method investment is $31 million lower than the underlying equity in the net assets of the investee due to an other-than-temporary impairment recorded in 2018. (7) The carrying value of our equity method investment is $284 million and $237 million higher than the underlying equity in the net assets of the investee at December 31, 2018 and 2017 , respectively, primarily due to guarantees, which we discuss below, and interest capitalized on the investment, as the JV has not commenced its planned principal operations. EARNINGS (LOSSES) FROM EQUITY METHOD INVESTMENTS (Dollars in millions) Years ended December 31, 2018 2017 2016 Earnings (losses) recorded before income tax (1) : Sempra Renewables: Wind: Auwahi Wind $ 3 $ 5 $ 4 Broken Bow 2 Wind (2 ) (2 ) (2 ) Cedar Creek 2 Wind (1 ) (2 ) (2 ) Flat Ridge 2 Wind (2) (178 ) (13 ) (7 ) Fowler Ridge 2 Wind 3 4 4 Mehoopany Wind (2) (30 ) (1 ) — Solar: California solar partnership 8 7 7 Copper Mountain Solar 2 5 5 6 Copper Mountain Solar 3 8 8 8 Mesquite Solar 1 18 18 17 Other (3 ) — (1 ) Sempra LNG & Midstream: Cameron LNG JV — 5 (2 ) Rockies Express Pipeline — — (26 ) Parent and other: RBS Sempra Commodities (2) (67 ) — — (236 ) 34 6 Earnings (losses) recorded net of income tax: Sempra Texas Utility: Oncor Holdings 371 — — Sempra South American Utilities: Eletrans 1 4 3 Sempra Mexico: DEN — (13 ) 5 Energía Sierra Juárez 2 — 6 IEnova Pipelines — — 64 IMG 29 45 — TAG 9 6 — 412 42 78 Total $ 176 $ 76 $ 84 (1) We provide our ETR calculation in Note 8. (2) Losses from equity method investment in 2018 include an other-than-temporary impairment charge, which we discuss below. |
Schedule of Summarized Financial Information | We present summarized financial information below, aggregated for all other equity method investments (excluding Oncor Holdings) for the periods in which we were invested in the entities. The amounts below represent the results of operations and aggregate financial position of 100 percent of each of Sempra Energy’s other equity method investments. SUMMARIZED FINANCIAL INFORMATION – OTHER EQUITY METHOD INVESTMENTS (Dollars in millions) Years ended December 31, 2018 (1) 2017 (2) 2016 (3) Gross revenues $ 727 $ 846 $ 1,079 Operating expense (614 ) (590 ) (726 ) Income from operations 113 256 353 Interest expense (330 ) (217 ) (127 ) Net (loss) income/(Losses) earnings (4) (33 ) 116 252 At December 31, 2018 (1) 2017 (2) Current assets $ 625 $ 974 Noncurrent assets 14,803 14,087 Current liabilities 813 797 Noncurrent liabilities 10,226 9,809 (1) On December 13, 2018, Sempra Renewables sold all its operating solar assets, including its solar equity method investments, and its 50 -percent interest in the Broken Bow 2 wind power generation facility to a subsidiary of Con Ed. As of December 13, 2018, the solar equity method investments and Broken Bow 2 are no longer equity method investments. (2) On November 15, 2017, IEnova completed the asset acquisition of PEMEX’s 50 -percent interest in DEN, increasing its ownership percentage to 100 percent . As of November 15, 2017, DEN is no longer an equity method investment. (3) On September 26, 2016, IEnova completed the acquisition of PEMEX’s 50 -percent interest in IEnova Pipelines, increasing its ownership percentage to 100 percent , and on May 9, 2016, Sempra LNG & Midstream sold its 25 -percent interest in Rockies Express. As of the respective transaction dates, IEnova Pipelines and Rockies Express are no longer equity method investments. (4) SUMMARIZED FINANCIAL INFORMATION – ONCOR HOLDINGS (Dollars in millions) March 9 - December 31, 2018 Gross revenues $ 3,347 Operating expense (2,434 ) Income from operations 913 Interest expense (285 ) Income tax expense (119 ) Net income 455 Noncontrolling interest held by TTI (94 ) Earnings attributable to Sempra Energy (1) 360 At December 31, 2018 Current assets $ 772 Noncurrent assets 21,980 Current liabilities 2,217 Noncurrent liabilities 11,756 (1) |
DEBT AND CREDIT FACILITIES (Tab
DEBT AND CREDIT FACILITIES (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Debt Disclosure [Abstract] | |
Schedule of Line of Credit Facilities | CREDIT FACILITIES IN SOUTH AMERICA AND MEXICO (U.S. dollar equivalent in millions) At December 31, 2018 Denominated in Total facility Amount Available unused credit Sempra South American Utilities (1) : Peru (2) Peruvian sol $ 534 $ (182 ) (3) $ 352 Chile Chilean peso 115 — 115 Sempra Mexico: IEnova (4) U.S. dollar 1,170 (808 ) 362 Total $ 1,819 $ (990 ) $ 829 1) The credit facilities were entered into to finance working capital and for general corporate purposes and expire between 2019 and 2021. 2) The Peruvian facilities require a debt to equity ratio of no more than 170 percent , with which we were in compliance at December 31, 2018 . 3) Includes bank guarantees of $18 million . 4) In February 2019, IEnova revised the terms of its five -year revolving credit facility by increasing the amount available under the facility from $1.17 billion to $1.5 billion , extending the expiration of the facility from August 2020 to February 2024 and increasing the syndicate of lenders from eight to 10 . PRIMARY U.S. COMMITTED LINES OF CREDIT (Dollars in millions) At December 31, 2018 Total facility Commercial paper outstanding (1) Adjustment for combined limit Available unused credit Sempra Energy (2) $ 1,250 $ — $ — $ 1,250 Sempra Global (3) 3,185 (669 ) — 2,516 California Utilities (4) : SDG&E 750 (291 ) (6 ) 453 SoCalGas 750 (256 ) (41 ) 453 Less: subject to a combined limit of $1 billion for both utilities (500 ) — 47 (453 ) 1,000 (547 ) — 453 Total $ 5,435 $ (1,216 ) $ — $ 4,219 (1) Because the commercial paper programs are supported by these lines, we reflect the amount of commercial paper outstanding as a reduction to the available unused credit. (2) The facility also provides for issuance of up to $400 million of letters of credit on behalf of Sempra Energy with the amount of borrowings otherwise available under the facility reduced by the amount of outstanding letters of credit. No letters of credit were outstanding at December 31, 2018 . (3) Sempra Energy guarantees Sempra Global’s obligations under the credit facility. (4) The facility also provides for the issuance of letters of credit on behalf of each utility subject to a combined letter of credit commitment of $250 million for both utilities. The amount of borrowings otherwise available under the facility is reduced by the amount of outstanding letters of credit. No letters of credit were outstanding at December 31, 2018 . |
Schedule Of Long-term Debt | The following tables show the detail and maturities of long-term debt outstanding: LONG-TERM DEBT (Dollars in millions) December 31, 2018 2017 SDG&E First mortgage bonds (collateralized by plant assets): 1.65% July 1, 2018 (1) $ — $ 161 3% August 15, 2021 350 350 1.914% payable 2015 through February 2022 125 161 3.6% September 1, 2023 450 450 2.5% May 15, 2026 500 500 6% June 1, 2026 250 250 5.875% January and February 2034 (1) 176 176 5.35% May 15, 2035 250 250 6.125% September 15, 2037 250 250 4% May 1, 2039 (1) 75 75 6% June 1, 2039 300 300 5.35% May 15, 2040 250 250 4.5% August 15, 2040 500 500 3.95% November 15, 2041 250 250 4.3% April 1, 2042 250 250 3.75% June 1, 2047 400 400 4.15% May 15, 2048 400 — 4,776 4,573 Other long-term debt: OMEC LLC variable-rate loan (5.2925% after floating-to-fixed rate swaps effective 2007), payable 2013 through April 2019 (collateralized by OMEC plant assets) — 295 OMEC LLC variable-rate loan (4.7896% at December 31, 2018 except for $142 at 5.2925% after floating-to-fixed rate swaps through April 1, 2019), payable 2019 through 2024 (collateralized by OMEC plant assets) 220 — Capital lease obligations: Purchased-power contracts 1,270 731 Other 2 1 1,492 1,027 6,268 5,600 Current portion of long-term debt (81 ) (220 ) Unamortized discount on long-term debt (12 ) (11 ) Unamortized debt issuance costs (37 ) (34 ) Total SDG&E 6,138 5,335 SoCalGas First mortgage bonds (collateralized by plant assets): 5.45% April 15, 2018 — 250 1.55% June 15, 2018 — 250 3.15% September 15, 2024 500 500 3.2% June 15, 2025 350 350 2.6% June 15, 2026 500 500 5.75% November 15, 2035 250 250 5.125% November 15, 2040 300 300 3.75% September 15, 2042 350 350 4.45% March 15, 2044 250 250 4.125% June 1, 2048 400 — 4.3% January 15, 2049 550 — 3,450 3,000 Other long-term debt (uncollateralized): 1.875% Notes payable 2016 through May 2026 (1) 4 4 5.67% Notes January 18, 2028 5 5 Capital lease obligations 3 1 12 10 3,462 3,010 Current portion of long-term debt (3 ) (501 ) Unamortized discount on long-term debt (6 ) (7 ) Unamortized debt issuance costs (26 ) (17 ) Total SoCalGas 3,427 2,485 LONG-TERM DEBT (CONTINUED) (Dollars in millions) December 31, 2018 2017 Sempra Energy Other long-term debt (uncollateralized): 6.15% Notes June 15, 2018 — 500 9.8% Notes February 15, 2019 500 500 Notes at variable rates (2.69% at December 31, 2018) July 15, 2019 500 — 1.625% Notes October 7, 2019 500 500 2.4% Notes February 1, 2020 500 — 2.4% Notes March 15, 2020 500 500 2.85% Notes November 15, 2020 400 400 Notes at variable rates (2.94% at December 31, 2018) January 15, 2021 (1) 700 — Notes at variable rates (3.24% at December 31, 2018) March 15, 2021 850 850 2.875% Notes October 1, 2022 500 500 2.9% Notes February 1, 2023 500 — 4.05% Notes December 1, 2023 500 500 3.55% Notes June 15, 2024 500 500 3.75% Notes November 15, 2025 350 350 3.25% Notes June 15, 2027 750 750 3.4% Notes February 1, 2028 1,000 — 3.8% Notes February 1, 2038 1,000 — 6% Notes October 15, 2039 750 750 4% Notes February 1, 2048 800 — Fair value adjustments for interest rate swaps, net — (1 ) Build-to-suit lease (2) 138 138 Sempra South American Utilities Other long-term debt (uncollateralized): Chilquinta Energía – 4.25% Series B Bonds October 30, 2030 186 205 Luz del Sur Bank loans 4.3% to 5.7% payable 2017 through December 2021 105 53 Corporate bonds at 4.75% to 8.75% payable 2014 through September 2029 432 415 Other bonds at 3.77% to 4.61% payable 2020 through May 2022 4 6 Capital lease obligations 6 6 Sempra Mexico Other long-term debt (uncollateralized unless otherwise noted): Notes February 8, 2018 at variable rates (2.66% after floating-to-fixed rate cross-currency swaps effective 2013) — 66 6.3% Notes February 2, 2023 (4.12% after cross-currency swap) 198 198 Notes at variable rates (4.88% after floating-to-fixed rate swaps effective 2014), payable 2016 through December 2026, collateralized by plant assets 275 314 3.75% Notes January 14, 2028 300 300 Bank loans including $246 at a weighted-average fixed rate of 6.67%, $164 at variable rates (weighted-average rate of 6.33% after floating-to-fixed rate swaps effective 2014) and $37 at variable rates (5.82% at December 31, 2018), payable 2016 through March 2032, collateralized by plant assets 447 468 4.875% Notes January 14, 2048 540 540 Loan at variables rates (6.07% at December 31, 2018) July 31, 2028 4 — Sempra Renewables Other long-term debt (collateralized by project assets): Loan at variable rates (3.325% at December 31, 2017) payable 2012 through December 2028 except for $59 at 3.668% after floating-to-fixed rate swaps effective June 2012 (1) — 77 Sempra LNG & Midstream Other long-term debt (uncollateralized): Notes at 2.87% to 3.51% October 1, 2026 (1) 21 20 13,756 9,405 Current portion of long-term debt (1,589 ) (706 ) Unamortized discount on long-term debt (38 ) (13 ) Unamortized premium on long-term debt 4 4 Unamortized debt issuance costs (87 ) (65 ) Total other Sempra Energy 12,046 8,625 Total Sempra Energy Consolidated $ 21,611 $ 16,445 (1) Callable long-term debt not subject to make-whole provisions. (2) On January 12, 2018, we issued the following debt securities and received net proceeds of $4.9 billion (after deducting discounts and debt issuance costs of $68 million): NOTES ISSUED IN LONG-TERM DEBT OFFERING (Dollars in millions) Title of each class of securities Aggregate principal amount Maturity Interest payments Notes at variable rates (1) due 2019 $ 500 July 15, 2019 Quarterly Notes at variable rates (2) due 2021 700 January 15, 2021 Quarterly 2.4% Notes due 2020 500 February 1, 2020 Semi-annually 2.9% Notes due 2023 500 February 1, 2023 Semi-annually 3.4% Notes due 2028 1,000 February 1, 2028 Semi-annually 3.8% Notes due 2038 1,000 February 1, 2038 Semi-annually 4% Notes due 2048 800 February 1, 2048 Semi-annually (1) Bears interest at a rate per annum equal to the 3-month LIBOR rate, plus 25 bps . (2) Bears interest at a rate per annum equal to the 3-month LIBOR rate, plus 50 bps LONG-TERM DEBT (Dollars in millions) December 31, 2018 2017 6.15% Notes June 15, 2018 $ — $ 500 9.8% Notes February 15, 2019 500 500 Notes at variable rates (2.69% at December 31, 2018) July 15, 2019 500 — 1.625% Notes October 7, 2019 500 500 2.4% Notes February 1, 2020 500 — 2.4% Notes March 15, 2020 500 500 2.85% Notes November 15, 2020 400 400 Notes at variable rates (2.94% at December 31, 2018) January 15, 2021 (1) 700 — Notes at variable rates (3.24% at December 31, 2018) March 15, 2021 850 850 2.875% Notes October 1, 2022 500 500 2.9% Notes February 1, 2023 500 — 4.05% Notes December 1, 2023 500 500 3.55% Notes June 15, 2024 500 500 3.75% Notes November 15, 2025 350 350 3.25% Notes June 15, 2027 750 750 3.4% Notes February 1, 2028 1,000 — 3.8% Notes February 1, 2038 1,000 — 6% Notes October 15, 2039 750 750 4% Notes February 1, 2048 800 — Fair value adjustments for interest rate swaps, net — (1 ) Build-to-suit lease 138 138 11,238 6,737 Current portion of long-term debt (1,498 ) (500 ) Unamortized discount on long-term debt (38 ) (13 ) Unamortized debt issuance costs (55 ) (26 ) Total long-term debt $ 9,647 $ 6,198 |
Schedule of Maturities of Long-term Debt | MATURITIES OF LONG-TERM DEBT (1) (Dollars in millions) SDG&E SoCalGas Other Sempra Energy Total Sempra Energy Consolidated 2019 $ 64 $ — $ 1,590 $ 1,654 2020 71 — 1,548 1,619 2021 425 — 1,700 2,125 2022 62 — 620 682 2023 500 — 1,321 1,821 Thereafter 3,874 3,459 6,833 14,166 Total $ 4,996 $ 3,459 $ 13,612 $ 22,067 (1) |
Schedule Of Callable Long Term Debt | At the option of Sempra Energy, SDG&E and SoCalGas, certain debt at December 31, 2018 is callable subject to premiums: CALLABLE LONG-TERM DEBT (Dollars in millions) SDG&E SoCalGas Other Total Not subject to make-whole provisions $ 251 $ 4 $ 721 $ 976 Subject to make-whole provisions 4,525 3,455 10,274 18,254 |
INCOME TAXES (Tables)
INCOME TAXES (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Income Tax Disclosure [Abstract] | |
Schedule of Effective Income Tax Rate Reconciliation | We provide our calculations of ETRs in the following table. INCOME TAX EXPENSE AND EFFECTIVE INCOME TAX RATES (Dollars in millions) Years ended December 31, 2018 2017 2016 Sempra Energy Consolidated: Income tax expense $ 96 $ 1,276 $ 389 Income before income taxes and equity earnings $ 1,046 $ 1,551 $ 1,824 Equity (losses) earnings, before income tax (1) (236 ) 34 6 Pretax income $ 810 $ 1,585 $ 1,830 Effective income tax rate 12 % 81 % 21 % SDG&E: Income tax expense $ 173 $ 155 $ 280 Income before income taxes $ 849 $ 576 $ 845 Effective income tax rate 20 % 27 % 33 % SoCalGas: Income tax expense $ 92 $ 160 $ 143 Income before income taxes $ 493 $ 557 $ 493 Effective income tax rate 19 % 29 % 29 % (1) We discuss how we recognize equity earnings in Note 6 . We present in the table below reconciliations of net U.S. statutory federal income tax rates to our ETRs. RECONCILIATION OF FEDERAL INCOME TAX RATES TO EFFECTIVE INCOME TAX RATES Years ended December 31, 2018 2017 2016 Sempra Energy Consolidated: U.S. federal statutory income tax rate 21 % 35 % 35 % Effects of the TCJA 11 55 — Non-U.S. earnings taxed at rates different from the U.S. statutory income tax rate (1) 9 (3 ) (3 ) Utility depreciation 7 6 4 Foreign exchange and inflation effects (2) 4 3 (2 ) Compensation-related items 3 — (2 ) Unrecognized income tax benefits 2 — — Noncontrolling interests in tax equity arrangements 2 — — Resolution of prior years’ income tax items — (2 ) — Impairment losses at Sempra LNG & Midstream (19 ) — — Utility repairs expenditures (8 ) (6 ) (4 ) Tax credits (6 ) (4 ) (3 ) State income taxes, net of federal income tax benefit (5 ) 1 1 Self-developed software expenditures (4 ) (4 ) (3 ) Allowance for equity funds used during construction (3 ) (3 ) (2 ) Amortization of excess deferred income taxes (2 ) — — Merger-related transaction costs (1 ) — — Other, net 1 3 — Effective income tax rate 12 % 81 % 21 % SDG&E: U.S. federal statutory income tax rate 21 % 35 % 35 % State income taxes, net of federal income tax benefit 5 3 5 Depreciation 3 7 5 Effects of the TCJA — 5 — Resolution of prior years’ income tax items — (4 ) (1 ) Compensation-related items — — (1 ) Repairs expenditures (3 ) (8 ) (4 ) Self-developed software expenditures (2 ) (6 ) (3 ) Allowance for equity funds used during construction (2 ) (4 ) (2 ) Amortization of excess deferred income taxes (1 ) — — Other, net (1 ) (1 ) (1 ) Effective income tax rate 20 % 27 % 33 % SoCalGas: U.S. federal statutory income tax rate 21 % 35 % 35 % Depreciation 7 9 9 Unrecognized income tax benefits 4 — — State income taxes, net of federal income tax benefit 2 3 2 Compensation-related items 1 — (1 ) Repairs expenditures (7 ) (8 ) (9 ) Self-developed software expenditures (3 ) (5 ) (6 ) Allowance for equity funds used during construction (2 ) (3 ) (2 ) Amortization of excess deferred income taxes (2 ) — — Resolution of prior years’ income tax items (1 ) (2 ) 2 Other, net (1 ) — (1 ) Effective income tax rate 19 % 29 % 29 % (1) Related to operations in Mexico, Chile and Peru. (2) Primarily due to fluctuation of the Mexican peso against the U.S. dollar. We record income tax expense (benefit) from the transactional effects of foreign currency and inflation because of appreciation (depreciation) of the Mexican peso. We also recognize gains (losses) in Other Income, Net, on the Consolidated Statements of Operations from foreign currency derivatives that are partially hedging Sempra Mexico parent’s exposure to movements in the Mexican peso from its controlling interest in IEnova. |
Schedule of Impact of Changes in Legislation | The table below summarizes the effects of the TCJA in 2018 and 2017: EFFECTS OF THE TAX CUTS AND JOBS ACT OF 2017 (Dollars in millions) Sempra Energy Consolidated SDG&E SoCalGas 2018: Consolidated Balance Sheets: Increase (decrease) in net deferred income tax liabilities due to remeasurement $ 16 $ (38 ) $ 5 Increase (decrease) in net regulatory liabilities from remeasurement of deferred income tax assets and liabilities $ 33 $ 38 $ (5 ) Consolidated Statements of Operations: Income tax expense related to remeasurement of deferred income tax assets and liabilities $ 49 $ — $ — Income tax benefit related to deemed repatriation (8 ) — — U.S. state and non-U.S. withholding tax expense related to expected future repatriation of foreign earnings 44 — — Total increase in income tax expense $ 85 $ — $ — 2017: Consolidated Balance Sheets: Decrease in net deferred income tax liabilities due to remeasurement $ (2,220 ) $ (1,400 ) $ (972 ) Increase in net regulatory liabilities from remeasurement of deferred income tax assets and liabilities $ 2,402 $ 1,428 $ 974 Consolidated Statements of Operations: Income tax expense related to remeasurement of deferred income tax assets and liabilities $ 182 $ 28 $ 2 Income tax expense related to deemed repatriation 328 — — U.S. state and non-U.S. withholding tax expense related to expected future repatriation of foreign earnings 360 — — Total increase in income tax expense $ 870 $ 28 $ 2 |
Schedule Of Geographic Components Of Income Before Income Taxes And Equity Earnings Of Certain Unconsolidated Subsidiaries | The table below presents the geographic components of pretax income. PRETAX INCOME – SEMPRA ENERGY CONSOLIDATED (Dollars in millions) Years ended December 31, 2018 2017 2016 By geographic components: U.S. $ (102 ) $ 878 $ 773 Non-U.S. 912 707 1,057 Total (1) $ 810 $ 1,585 $ 1,830 (1) |
Schedule Of Components Of Income Tax Expense | The components of income tax expense are as follows. INCOME TAX EXPENSE (BENEFIT) (Dollars in millions) Years ended December 31, 2018 2017 2016 Sempra Energy Consolidated: Current: U.S. federal $ (2 ) $ — $ — U.S. state 66 — 1 Non-U.S. 214 116 171 Total 278 116 172 Deferred: U.S. federal (120 ) 536 78 U.S. state (159 ) 297 9 Non-U.S. 101 327 135 Total (178 ) 1,160 222 Deferred investment tax credits (4 ) — (5 ) Total income tax expense $ 96 $ 1,276 $ 389 SDG&E: Current: U.S. federal $ 104 $ 100 $ — U.S. state 30 65 22 Total 134 165 22 Deferred: U.S. federal 17 29 223 U.S. state 24 (41 ) 38 Total 41 (12 ) 261 Deferred investment tax credits (2 ) 2 (3 ) Total income tax expense $ 173 $ 155 $ 280 SoCalGas: Current: U.S. federal $ 4 $ — $ — U.S. state 10 23 40 Total 14 23 40 Deferred: U.S. federal 78 144 123 U.S. state 2 (5 ) (18 ) Total 80 139 105 Deferred investment tax credits (2 ) (2 ) (2 ) Total income tax expense $ 92 $ 160 $ 143 |
Schedule Of Components Of Deferred Tax Assets And Liabilities | The tables below present the components of deferred income taxes: DEFERRED INCOME TAXES – SEMPRA ENERGY CONSOLIDATED (Dollars in millions) December 31, 2018 2017 Deferred income tax liabilities: Differences in financial and tax bases of fixed assets, investments and other assets (1) $ 3,780 $ 4,233 U.S. state and non-U.S. withholding tax on repatriation of foreign earnings 382 360 Regulatory balancing accounts 359 376 Property taxes 41 37 Other deferred income tax liabilities 130 117 Total deferred income tax liabilities 4,692 5,123 Deferred income tax assets: Tax credits 1,114 1,066 Net operating losses 725 968 Compensation-related items 181 199 Postretirement benefits 255 251 Other deferred income tax assets 92 115 Accrued expenses not yet deductible 69 60 Deferred income tax assets before valuation allowances 2,436 2,659 Less: valuation allowances 164 133 Total deferred income tax assets 2,272 2,526 Net deferred income tax liability (2) $ 2,420 $ 2,597 (1) In addition to the financial over tax basis differences in fixed assets, the amount also includes financial over tax basis differences in various interests in partnerships and certain subsidiaries. (2) At December 31, 2018 and 2017, includes $151 million and $170 million , respectively, recorded as a noncurrent asset and $2,571 million and $2,767 million, respectively, recorded as a noncurrent liability on the Consolidated Balance Sheets. DEFERRED INCOME TAXES – SDG&E AND SOCALGAS (Dollars in millions) SDG&E SoCalGas December 31, December 31, 2018 2017 2018 2017 Deferred income tax liabilities: Differences in financial and tax bases of utility plant and other assets $ 1,578 $ 1,472 $ 1,077 $ 987 Regulatory balancing accounts 84 113 283 271 Property taxes 29 26 13 12 Other 10 10 2 1 Total deferred income tax liabilities 1,701 1,621 1,375 1,271 Deferred income tax assets: Net operating losses — — — 58 Tax credits 6 7 3 15 Postretirement benefits 58 43 140 152 Compensation-related items 5 5 25 25 State income taxes 6 14 3 7 Accrued expenses not yet deductible 4 3 13 12 Other 6 19 14 7 Total deferred income tax assets 85 91 198 276 Net deferred income tax liability $ 1,616 $ 1,530 $ 1,177 $ 995 |
Summary of Tax Credit Carryforwards | The following table summarizes our unused NOLs and tax credit carryforwards. NET OPERATING LOSSES AND TAX CREDIT CARRYFORWARDS (Dollars in millions) Unused amount at December 31, 2018 Year expiration begins Sempra Energy Consolidated: U.S. federal: NOLs (1) $ 2,688 2031 General business tax credits (1) 417 2032 Foreign tax credits (2) 624 2024 U.S. state (2) : NOLs 1,942 2019 General business tax credits 82 2019 Non-U.S. (2) NOLs 264 2019 (1) We have recorded deferred income tax benefits on these NOLs and tax credits, in total, because we currently believe they will be realized on a more-likely-than-not-basis. (2) We have not recorded deferred income tax benefits on a portion of these NOLs and tax credits because we currently believe they will not be realized on a more-likely-than-not-basis, as discussed below. |
Summary of Operating Loss Carryforwards | The following table summarizes our unused NOLs and tax credit carryforwards. NET OPERATING LOSSES AND TAX CREDIT CARRYFORWARDS (Dollars in millions) Unused amount at December 31, 2018 Year expiration begins Sempra Energy Consolidated: U.S. federal: NOLs (1) $ 2,688 2031 General business tax credits (1) 417 2032 Foreign tax credits (2) 624 2024 U.S. state (2) : NOLs 1,942 2019 General business tax credits 82 2019 Non-U.S. (2) NOLs 264 2019 (1) We have recorded deferred income tax benefits on these NOLs and tax credits, in total, because we currently believe they will be realized on a more-likely-than-not-basis. (2) |
Summary of Income Tax Contingencies | Following is a reconciliation of the changes in unrecognized income tax benefits and the potential effect on our ETR for the years ended December 31: RECONCILIATION OF UNRECOGNIZED INCOME TAX BENEFITS (Dollars in millions) 2018 2017 2016 Sempra Energy Consolidated: Balance at January 1 $ 89 $ 90 $ 87 Increase in prior period tax positions 7 22 2 Decrease in prior period tax positions (1 ) (15 ) (2 ) Increase in current period tax positions 24 4 6 Settlements with taxing authorities — (12 ) (3 ) Balance at December 31 $ 119 $ 89 $ 90 Of December 31 balance, amounts related to tax positions that if recognized in future years would decrease the effective tax rate (1) $ (107 ) $ (77 ) $ (87 ) increase the effective tax rate (1) 24 20 36 SDG&E: Balance at January 1 $ 10 $ 22 $ 20 Increase in prior period tax positions 1 9 — Decrease in prior period tax positions — (11 ) — Increase in current period tax positions — — 2 Settlements with taxing authorities — (10 ) — Balance at December 31 $ 11 $ 10 $ 22 Of December 31 balance, amounts related to tax positions that if recognized in future years would decrease the effective tax rate (1) $ (9 ) $ (7 ) $ (19 ) increase the effective tax rate (1) 1 1 13 SoCalGas: Balance at January 1 $ 35 $ 29 $ 27 Increase in prior period tax positions 2 3 — Decrease in prior period tax positions — — (2 ) Increase in current period tax positions 24 4 4 Settlements with taxing authorities — (1 ) — Balance at December 31 $ 61 $ 35 $ 29 Of December 31 balance, amounts related to tax positions that if recognized in future years would decrease the effective tax rate (1) $ (51 ) $ (26 ) $ (29 ) increase the effective tax rate (1) 23 20 24 (1) Includes temporary book and tax differences that are treated as flow-through for ratemaking purposes, as discussed above. |
Summary of Positions for which Significant Change in Unrecognized Tax Benefits is Reasonably Possible | It is reasonably possible that within the next 12 months, unrecognized income tax benefits could decrease due to the following: POSSIBLE DECREASES IN UNRECOGNIZED INCOME TAX BENEFITS WITHIN 12 MONTHS (Dollars in millions) At December 31, 2018 2017 2016 Sempra Energy Consolidated: Expiration of statutes of limitations on tax assessments $ (1 ) $ — $ (2 ) Potential resolution of audit issues with various U.S. federal, state and local and non-U.S. taxing authorities (40 ) (8 ) (36 ) $ (41 ) $ (8 ) $ (38 ) SDG&E: Expiration of statutes of limitations on tax assessments $ — $ — $ (1 ) Potential resolution of audit issues with various U.S. federal, state and local taxing authorities (6 ) (6 ) (10 ) $ (6 ) $ (6 ) $ (11 ) SoCalGas: Potential resolution of audit issues with various U.S. federal, state and local taxing authorities $ (2 ) $ (2 ) $ (25 ) |
EMPLOYEE BENEFIT PLANS (Tables)
EMPLOYEE BENEFIT PLANS (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Retirement Benefits [Abstract] | |
Schedule Of Defined Benefit Plans, Change In Benefit Obligation And Fair Value Of Plan Assets | The following three tables provide a reconciliation of the changes in the plans’ projected benefit obligations and the fair value of assets during 2018 and 2017 , and a statement of the funded status at December 31, 2018 and 2017 : PROJECTED BENEFIT OBLIGATION, FAIR VALUE OF ASSETS AND FUNDED STATUS SEMPRA ENERGY CONSOLIDATED (Dollars in millions) Pension benefits Other postretirement benefits 2018 2017 2018 2017 CHANGE IN PROJECTED BENEFIT OBLIGATION Net obligation at January 1 $ 3,857 $ 3,679 $ 963 $ 922 Service cost 124 117 21 21 Interest cost 141 151 36 39 Contributions from plan participants — — 23 20 Actuarial (gain) loss (269 ) 286 (123 ) 6 Plan amendments 12 1 — — Benefit payments (115 ) (182 ) (74 ) (63 ) Special termination benefits — — 5 18 Acquisition — — 21 — Curtailments — (1 ) — — Settlements (394 ) (194 ) — — Net obligation at December 31 3,356 3,857 872 963 CHANGE IN PLAN ASSETS Fair value of plan assets at January 1 2,659 2,459 1,209 1,057 Actual return on plan assets (180 ) 421 (56 ) 185 Employer contributions 190 155 6 10 Contributions from plan participants — — 23 20 Benefit payments (115 ) (182 ) (74 ) (63 ) Settlements (394 ) (194 ) — — Fair value of plan assets at December 31 2,160 2,659 1,108 1,209 Funded status at December 31 $ (1,196 ) $ (1,198 ) $ 236 $ 246 Net recorded (liability) asset at December 31 $ (1,196 ) $ (1,198 ) $ 236 $ 246 PROJECTED BENEFIT OBLIGATION, FAIR VALUE OF ASSETS AND FUNDED STATUS SAN DIEGO GAS & ELECTRIC COMPANY (Dollars in millions) Pension benefits Other postretirement benefits 2018 2017 2018 2017 CHANGE IN PROJECTED BENEFIT OBLIGATION Net obligation at January 1 $ 971 $ 935 $ 185 $ 190 Service cost 30 29 5 5 Interest cost 35 38 7 8 Contributions from plan participants — — 8 7 Actuarial (gain) loss (63 ) 50 (17 ) (9 ) Plan amendments 8 — — — Benefit payments (22 ) (83 ) (21 ) (16 ) Special termination benefits — — 3 — Settlements (145 ) — — — Transfer of liability from other plans — 2 — — Net obligation at December 31 814 971 170 185 CHANGE IN PLAN ASSETS Fair value of plan assets at January 1 776 714 195 169 Actual return on plan assets (56 ) 120 (12 ) 30 Employer contributions 47 22 2 5 Contributions from plan participants — — 8 7 Benefit payments (22 ) (83 ) (21 ) (16 ) Settlements (145 ) — — — Transfer of assets from other plans — 3 — — Fair value of plan assets at December 31 600 776 172 195 Funded status at December 31 $ (214 ) $ (195 ) $ 2 $ 10 Net recorded (liability) asset at December 31 $ (214 ) $ (195 ) $ 2 $ 10 PROJECTED BENEFIT OBLIGATION, FAIR VALUE OF ASSETS AND FUNDED STATUS SOUTHERN CALIFORNIA GAS COMPANY (Dollars in millions) Pension benefits Other postretirement benefits 2018 2017 2018 2017 CHANGE IN PROJECTED BENEFIT OBLIGATION Net obligation at January 1 $ 2,486 $ 2,343 $ 737 $ 691 Service cost 81 76 15 14 Interest cost 92 98 27 29 Contributions from plan participants — — 14 13 Actuarial (gain) loss (215 ) 216 (100 ) 16 Benefit payments (65 ) (73 ) (49 ) (44 ) Special termination benefits — — 2 18 Settlements (231 ) (175 ) — — Transfer of liability from other plans — 1 — — Net obligation at December 31 2,148 2,486 646 737 CHANGE IN PLAN ASSETS Fair value of plan assets at January 1 1,694 1,579 993 870 Actual return on plan assets (117 ) 269 (43 ) 151 Employer contributions 104 93 1 3 Contributions from plan participants — — 14 13 Benefit payments (65 ) (73 ) (49 ) (44 ) Settlements (231 ) (175 ) — — Transfer of assets from other plans — 1 — — Fair value of plan assets at December 31 1,385 1,694 916 993 Funded status at December 31 $ (763 ) $ (792 ) $ 270 $ 256 Net recorded (liability) asset at December 31 $ (763 ) $ (792 ) $ 270 $ 256 |
Schedule Of Defined Benefit Plans, Amounts Recognized In Balance Sheet | The net (liability) asset is included in the following categories on the Consolidated Balance Sheets at December 31: PENSION AND OTHER POSTRETIREMENT BENEFIT OBLIGATIONS, NET OF PLAN ASSETS (Dollars in millions) Pension benefits Other postretirement benefits 2018 2017 2018 2017 Sempra Energy Consolidated: Noncurrent assets $ — $ — $ 272 $ 266 Current liabilities (65 ) (69 ) (6 ) (1 ) Noncurrent liabilities (1,131 ) (1,129 ) (30 ) (19 ) Net recorded (liability) asset $ (1,196 ) $ (1,198 ) $ 236 $ 246 SDG&E: Noncurrent assets $ — $ — $ 2 $ 10 Current liabilities (2 ) (13 ) — — Noncurrent liabilities (212 ) (182 ) — — Net recorded (liability) asset $ (214 ) $ (195 ) $ 2 $ 10 SoCalGas: Noncurrent assets $ — $ — $ 270 $ 256 Current liabilities (3 ) (3 ) — — Noncurrent liabilities (760 ) (789 ) — — Net recorded (liability) asset $ (763 ) $ (792 ) $ 270 $ 256 |
Schedule Of Defined Benefit Plans, Amounts In Accumulated Other Comprehensive Income | Amounts recorded in AOCI at December 31, net of income tax effects and amounts recorded as regulatory assets, are as follows: AMOUNTS IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Dollars in millions) Pension benefits Other postretirement benefits 2018 2017 2018 2017 Sempra Energy Consolidated: Net actuarial (loss) gain $ (114 ) $ (84 ) $ 8 $ 4 Prior service cost (12 ) (4 ) — — Total $ (126 ) $ (88 ) $ 8 $ 4 SDG&E: Net actuarial loss $ (4 ) $ (8 ) Prior service cost (6 ) — Total $ (10 ) $ (8 ) SoCalGas: Net actuarial loss $ (6 ) $ (6 ) Prior service cost (2 ) (2 ) Total $ (8 ) $ (8 ) |
Schedule Of Defined Benefit Plans, Pension Plans With Benefit Obligations In Excess Of Plan Assets | The following table shows the obligations of funded pension plans with benefit obligations in excess of plan assets at December 31: OBLIGATIONS OF FUNDED PENSION PLANS (Dollars in millions) 2018 2017 Sempra Energy Consolidated: Projected benefit obligation $ 3,130 $ 3,623 Accumulated benefit obligation 2,894 3,334 Fair value of plan assets 2,160 2,659 SDG&E: Projected benefit obligation $ 788 $ 939 Accumulated benefit obligation 762 900 Fair value of plan assets 600 776 SoCalGas: Projected benefit obligation $ 2,123 $ 2,462 Accumulated benefit obligation 1,919 2,220 Fair value of plan assets 1,385 1,694 We also have unfunded pension plans at Sempra Energy, SDG&E, SoCalGas, IEnova and Chilquinta Energía. The following table shows the obligations of unfunded pension plans at December 31: OBLIGATIONS OF UNFUNDED PENSION PLANS (Dollars in millions) 2018 2017 Sempra Energy Consolidated: Projected benefit obligation $ 226 $ 234 Accumulated benefit obligation 201 215 SDG&E: Projected benefit obligation $ 26 $ 32 Accumulated benefit obligation 19 30 SoCalGas: Projected benefit obligation $ 25 $ 24 Accumulated benefit obligation 21 21 Sempra Energy, SDG&E and SoCalGas each have a funded other postretirement benefit plan. The following table shows the obligations of funded other postretirement benefit plans with accumulated postretirement benefit obligations in excess of plan assets at December 31: OBLIGATIONS OF FUNDED OTHER POSTRETIREMENT BENEFIT PLANS (Dollars in millions) 2018 2017 Sempra Energy Consolidated: Accumulated postretirement benefit obligation $ 30 $ 32 Fair value of plan assets 20 21 We also have unfunded other postretirement benefit plans at Sempra Energy and Chilquinta Energía. The following table shows the obligations of unfunded other postretirement benefit plans at December 31: OBLIGATIONS OF UNFUNDED OTHER POSTRETIREMENT BENEFIT PLANS (Dollars in millions) 2018 2017 Sempra Energy Consolidated: Accumulated postretirement benefit obligation $ 26 $ 9 |
Schedule of Net Benefit Costs | The following tables provide the components of net periodic benefit cost and pretax amounts recognized in OCI for the years ended December 31: NET PERIODIC BENEFIT COST AND AMOUNTS RECOGNIZED IN OCI SEMPRA ENERGY CONSOLIDATED (Dollars in millions) Pension benefits Other postretirement benefits 2018 2017 2016 2018 2017 2016 NET PERIODIC BENEFIT COST Service cost $ 124 $ 117 $ 107 $ 21 $ 21 $ 20 Interest cost 141 151 160 36 39 42 Expected return on assets (157 ) (161 ) (166 ) (70 ) (66 ) (69 ) Amortization of: Prior service cost 11 11 11 1 1 — Actuarial loss (gain) 23 36 30 (6 ) (4 ) (1 ) Settlement charges 66 38 16 — — — Special termination benefits — — — 5 18 26 Net periodic benefit cost 208 192 158 (13 ) 9 18 Regulatory adjustment (30 ) (42 ) (57 ) 17 — (11 ) Total expense recognized 178 150 101 4 9 7 CHANGES IN PLAN ASSETS AND BENEFIT OBLIGATIONS RECOGNIZED IN OCI Net loss (gain) 56 — 26 (4 ) (2 ) (2 ) Prior service cost 12 1 — — — — Amortization of actuarial loss (12 ) (10 ) (10 ) — — — Amortization of prior service cost (2 ) (1 ) (1 ) — — — Settlements (12 ) (8 ) — — — — Total recognized in OCI 42 (18 ) 15 (4 ) (2 ) (2 ) Total recognized in net periodic benefit cost and OCI $ 220 $ 132 $ 116 $ — $ 7 $ 5 NET PERIODIC BENEFIT COST AND AMOUNTS RECOGNIZED IN OCI SAN DIEGO GAS & ELECTRIC COMPANY (Dollars in millions) Pension benefits Other postretirement benefits 2018 2017 2016 2018 2017 2016 NET PERIODIC BENEFIT COST Service cost $ 30 $ 29 $ 29 $ 5 $ 5 $ 5 Interest cost 35 38 41 7 8 7 Expected return on assets (47 ) (47 ) (49 ) (13 ) (11 ) (12 ) Amortization of: Prior service cost 2 1 1 3 3 3 Actuarial loss (gain) 1 9 10 (3 ) — (1 ) Settlement charges 26 — 16 — — — Special termination benefits — — — 3 — 14 Net periodic benefit cost 47 30 48 2 5 16 Regulatory adjustment (8 ) (8 ) (45 ) — — (14 ) Total expense recognized 39 22 3 2 5 2 CHANGES IN PLAN ASSETS AND BENEFIT OBLIGATIONS RECOGNIZED IN OCI Net (gain) loss (1 ) 2 1 — — — Prior service cost 8 — — — — — Amortization of actuarial loss (1 ) (1 ) (1 ) — — — Settlements (4 ) — — — — — Total recognized in OCI 2 1 — — — — Total recognized in net periodic benefit cost and OCI $ 41 $ 23 $ 3 $ 2 $ 5 $ 2 NET PERIODIC BENEFIT COST AND AMOUNTS RECOGNIZED IN OCI SOUTHERN CALIFORNIA GAS COMPANY (Dollars in millions) Pension benefits Other postretirement benefits 2018 2017 2016 2018 2017 2016 NET PERIODIC BENEFIT COST Service cost $ 81 $ 76 $ 67 $ 15 $ 14 $ 14 Interest cost 92 98 101 27 29 32 Expected return on assets (98 ) (103 ) (103 ) (56 ) (53 ) (56 ) Amortization of: Prior service cost (credit) 8 9 9 (3 ) (3 ) (4 ) Actuarial loss (gain) 13 19 11 (2 ) (3 ) — Settlement charges 32 30 — — — — Special termination benefits — — — 2 18 11 Net periodic benefit cost 128 129 85 (17 ) 2 (3 ) Regulatory adjustment (22 ) (34 ) (12 ) 17 — 3 Total expense recognized 106 95 73 — 2 — CHANGES IN PLAN ASSETS AND BENEFIT OBLIGATIONS RECOGNIZED IN OCI Net loss 1 — 4 — — — Prior service cost — — 2 — — — Amortization of prior service cost (1 ) (1 ) — — — — Total recognized in OCI — (1 ) 6 — — — Total recognized in net periodic benefit cost and OCI $ 106 $ 94 $ 79 $ — $ 2 $ — |
Schedule of Assumptions Used | The significant assumptions affecting benefit obligation and net periodic benefit cost are as follows: WEIGHTED-AVERAGE ASSUMPTIONS USED TO DETERMINE BENEFIT OBLIGATION AT DECEMBER 31 Pension benefits Other postretirement benefits 2018 2017 2018 2017 Sempra Energy Consolidated: Discount rate 4.30 % 3.65 % 4.30 % 3.70 % Interest crediting rate (1)(2) 3.36 2.80 3.36 2.80 Rate of compensation increase 2.00-10.00 2.00-10.00 2.00-10.00 2.00-10.00 SDG&E: Discount rate 4.29 % 3.64 % 4.30 % 3.65 % Interest crediting rate (1)(2) 3.36 2.80 3.36 2.80 Rate of compensation increase 2.00-10.00 2.00-10.00 2.00-10.00 2.00-10.00 SoCalGas: Discount rate 4.30 % 3.65 % 4.30 % 3.70 % Interest crediting rate (1)(2) 3.36 2.80 3.36 2.80 Rate of compensation increase 2.00-10.00 2.00-10.00 2.00-10.00 2.00-10.00 (1) Interest crediting rate for pension benefits applies only to funded cash balance plans. (2) Interest crediting rate for other postretirement benefits applies only to interest bearing health retirement accounts at SDG&E and SoCalGas. WEIGHTED-AVERAGE ASSUMPTIONS USED TO DETERMINE NET PERIODIC BENEFIT COST YEARS ENDED DECEMBER 31 Pension benefits Other postretirement benefits 2018 2017 2016 2018 2017 2016 Sempra Energy Consolidated: Discount rate 3.65 % 4.08 % 4.46 % 3.70 % 4.19 % 4.49 % Expected return on plan assets 7.00 7.00 7.00 6.49 6.47 6.98 Interest crediting rate (1)(2) 2.80 2.86 3.03 2.80 2.86 3.03 Rate of compensation increase 2.00-10.00 2.00-10.00 2.00-10.00 2.00-10.00 2.00-10.00 2.00-10.00 SDG&E: Discount rate 3.64 % 4.08 % 4.35 % 3.65 % 4.15 % 4.50 % Expected return on plan assets 7.00 7.00 7.00 6.94 6.91 6.90 Interest crediting rate (1)(2) 2.80 2.86 3.03 2.80 2.86 3.03 Rate of compensation increase 2.00-10.00 2.00-10.00 2.00-10.00 2.00-10.00 2.00-10.00 2.00-10.00 SoCalGas: Discount rate 3.65 % 4.10 % 4.50 % 3.70 % 4.20 % 4.50 % Expected return on plan assets 7.00 7.00 7.00 6.38 6.37 7.00 Interest crediting rate (1)(2) 2.80 2.86 3.03 2.80 2.86 3.03 Rate of compensation increase 2.00-10.00 2.00-10.00 2.00-10.00 2.00-10.00 2.00-10.00 2.00-10.00 (1) Interest crediting rate for pension benefits applies only to funded cash balance plans. (2) ASSUMED HEALTH CARE COST TREND RATES AT DECEMBER 31 Other postretirement benefit plans Pre-65 retirees Retirees aged 65 years and older 2018 2017 2016 2018 2017 2016 Health care cost trend rate assumed for next year 6.50 % 7.00 % 8.00 % 4.75 % 5.00 % 5.50 % Rate to which the cost trend rate is assumed to decline (the ultimate trend) 4.75 % 5.00 % 5.00 % 4.50 % 4.50 % 4.50 % Year the rate reaches the ultimate trend 2025 2022 2022 2022 2022 2022 |
Schedule of Health Care Cost Trend Rates | Assumed health care cost trend rates have a significant effect on the amounts that we report for the health care plan costs. Following are the health care cost trend rates applicable to our postretirement benefit plans: ASSUMED HEALTH CARE COST TREND RATES AT DECEMBER 31 Other postretirement benefit plans Pre-65 retirees Retirees aged 65 years and older 2018 2017 2016 2018 2017 2016 Health care cost trend rate assumed for next year 6.50 % 7.00 % 8.00 % 4.75 % 5.00 % 5.50 % Rate to which the cost trend rate is assumed to decline (the ultimate trend) 4.75 % 5.00 % 5.00 % 4.50 % 4.50 % 4.50 % Year the rate reaches the ultimate trend 2025 2022 2022 2022 2022 2022 |
Schedule Of Defined Benefit Plans, Fair Value Of Plan Assets By Level In Fair Value Hierarchy | The fair values of our pension plan assets by asset category are as follows: FAIR VALUE MEASUREMENTS – INVESTMENT ASSETS OF PENSION PLANS (Dollars in millions) Fair value at December 31, 2018 Level 1 Level 2 Total Sempra Energy Consolidated: Equity securities: Domestic $ 727 $ — $ 727 International 437 — 437 Registered investment companies 74 — 74 Fixed income securities: Domestic government bonds 197 29 226 International government bonds — 8 8 Domestic corporate bonds — 311 311 International corporate bonds — 53 53 Registered investment companies — 1 1 Total investment assets in the fair value hierarchy $ 1,435 $ 402 1,837 Investments measured at NAV: Common/collective trusts 326 Private equity funds 4 Total investment assets (1) $ 2,167 SDG&E’s proportionate share of investment assets $ 602 SoCalGas’ proportionate share of investment assets $ 1,389 Fair value at December 31, 2017 Level 1 Level 2 Total Sempra Energy Consolidated: Equity securities: Domestic $ 946 $ — $ 946 International 538 — 538 Registered investment companies 102 — 102 Fixed income securities: Domestic government bonds 242 27 269 International government bonds — 12 12 Domestic corporate bonds — 338 338 International corporate bonds — 64 64 Registered investment companies — 6 6 Other — 1 1 Total investment assets in the fair value hierarchy $ 1,828 $ 448 2,276 Investments measured at NAV: Common/collective trusts 384 Private equity funds 4 Total investment assets (2) $ 2,664 SDG&E’s proportionate share of investment assets $ 777 SoCalGas’ proportionate share of investment assets $ 1,697 (1) Excludes cash and cash equivalents of $14 million and accounts payable of $21 million . (2) Excludes cash and cash equivalents of $13 million and accounts payable of $18 million . The fair values by asset category of the PBOP plan assets held in the pension master trust and in the additional trusts for SoCalGas’ PBOP plans and SDG&E’s PBOP plan trusts are as follows: FAIR VALUE MEASUREMENTS – INVESTMENT ASSETS OF OTHER POSTRETIREMENT BENEFIT PLANS (Dollars in millions) Fair value at December 31, 2018 Level 1 Level 2 Total SDG&E: Equity securities: Domestic $ 37 $ — $ 37 International 22 — 22 Registered investment companies 59 — 59 Fixed income securities: Domestic government bonds 10 1 11 Domestic corporate bonds — 16 16 International corporate bonds — 3 3 Registered investment companies — 7 7 Total investment assets in the fair value hierarchy 128 27 155 Investments measured at NAV – Common/collective trusts 17 Total investment assets (1) 172 SoCalGas: Equity securities: Domestic 66 — 66 International 39 — 39 Registered investment companies 62 — 62 Fixed income securities: Domestic government bonds 236 13 249 International government bonds 1 4 5 Domestic corporate bonds — 175 175 International corporate bonds — 21 21 Registered investment companies — 64 64 Derivative financial instruments (4 ) — (4 ) Total investment assets in the fair value hierarchy 400 277 677 Investments measured at NAV – Common/collective trusts 237 Total investment assets (2) 914 Other Sempra Energy: Equity securities: Domestic 6 — 6 International 4 — 4 Fixed income securities: Domestic government bonds 2 — 2 Domestic corporate bonds — 2 2 Registered investment companies — 1 1 Total investment assets in the fair value hierarchy 12 3 15 Investments measured at NAV – Common/collective trusts 4 Private equity funds 1 Total other Sempra Energy investment assets 20 Total Sempra Energy Consolidated investment assets in the fair value hierarchy $ 540 $ 307 Total Sempra Energy Consolidated investment assets (3) $ 1,106 (1) Excludes cash and cash equivalents of $1 million and accounts payable of $1 million held in SDG&E PBOP plan trusts. (2) Excludes cash and cash equivalents of $6 million and accounts payable of $4 million held in SoCalGas PBOP plan trusts. (3) Excludes cash and cash equivalents of $7 million and accounts payable of $5 million at Sempra Energy Consolidated. FAIR VALUE MEASUREMENTS – INVESTMENT ASSETS OF OTHER POSTRETIREMENT BENEFIT PLANS (Dollars in millions) Fair value at December 31, 2017 Level 1 Level 2 Total SDG&E: Equity securities: Domestic $ 46 $ — $ 46 International 26 — 26 Registered investment companies 52 — 52 Fixed income securities: Domestic government bonds 12 1 13 International government bonds — 1 1 Domestic corporate bonds — 17 17 International corporate bonds — 3 3 Registered investment companies — 17 17 Total investment assets in the fair value hierarchy 136 39 175 Investments measured at NAV – Common/collective trusts 20 Total investment assets (1) 195 SoCalGas: Equity securities: Domestic 78 — 78 International 44 — 44 Registered investment companies 41 — 41 Fixed income securities: Domestic government bonds 125 13 138 International government bonds — 7 7 Domestic corporate bonds — 164 164 International corporate bonds — 28 28 Registered investment companies — 85 85 Total investment assets in the fair value hierarchy 288 297 585 Investments measured at NAV – Common/collective trusts 406 Total investment assets (2) 991 Other Sempra Energy: Equity securities: Domestic 7 — 7 International 5 — 5 Registered investment companies 1 — 1 Fixed income securities: Domestic government bonds 1 1 2 Domestic corporate bonds — 2 2 International corporate bonds — 1 1 Total investment assets in the fair value hierarchy 14 4 18 Investments measured at NAV – Common/collective trusts 2 Private equity funds 1 Total other Sempra Energy investment assets 21 Total Sempra Energy Consolidated investment assets in the fair value hierarchy $ 438 $ 340 Total Sempra Energy Consolidated investment assets (3) $ 1,207 (1) Excludes cash and cash equivalents of $1 million and accounts payable of $1 million held in SDG&E PBOP plan trusts. (2) Excludes cash and cash equivalents of $4 million and accounts payable of $2 million held in SoCalGas PBOP plan trusts. (3) Excludes cash and cash equivalents of $5 million and accounts payable of $3 million |
Schedule Of Defined Benefit Plans, Estimated Future Employer Contributions In Next Fiscal Year | We expect to contribute the following amounts to our pension and PBOP plans in 2019 : EXPECTED CONTRIBUTIONS (Dollars in millions) Sempra Energy Consolidated SDG&E SoCalGas Pension plans $ 228 $ 40 $ 118 Other postretirement benefit plans 10 — 1 |
Schedule of Expected Benefit Payments | The following table shows the total benefits we expect to pay for the next 10 years to current employees and retirees from the plans or from company assets. EXPECTED BENEFIT PAYMENTS (Dollars in millions) Sempra Energy Consolidated SDG&E SoCalGas Pension benefits Other postretirement benefits Pension benefits Other postretirement benefits Pension benefits Other postretirement benefits 2019 $ 416 $ 54 $ 109 $ 10 $ 207 $ 36 2020 270 51 69 10 159 36 2021 268 52 64 10 154 37 2022 246 52 61 11 152 37 2023 236 52 62 11 149 38 2024-2028 1,097 257 282 51 698 187 |
Schedule Of Defined Benefit Plans Contributions | Employer contributions to the savings plans were as follows: EMPLOYER CONTRIBUTIONS TO SAVINGS PLANS (Dollars in millions) 2018 2017 2016 Sempra Energy Consolidated $ 43 $ 41 $ 42 SDG&E 15 14 15 SoCalGas 23 22 22 |
SHARE-BASED COMPENSATION (Table
SHARE-BASED COMPENSATION (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Share-based Compensation [Abstract] | |
Schedule Of Share-based Compensation Expense | Total share-based compensation expense for all of Sempra Energy’s share-based awards was comprised as follows: SHARE-BASED COMPENSATION EXPENSE (Dollars in millions) Years ended December 31, 2018 2017 2016 Sempra Energy Consolidated: Share-based compensation expense, before income taxes $ 76 $ 78 $ 46 Income tax benefit (21 ) (31 ) (18 ) $ 55 $ 47 $ 28 Capitalized share-based compensation cost $ 10 $ 9 $ 7 Excess income tax deficiency (benefit) $ 15 $ — $ (34 ) SDG&E: Share-based compensation expense, before income taxes $ 12 $ 13 $ 7 Income tax benefit (3 ) (5 ) (3 ) $ 9 $ 8 $ 4 Capitalized share-based compensation cost $ 6 $ 5 $ 4 Excess income tax deficiency (benefit) $ 3 $ — $ (7 ) SoCalGas: Share-based compensation expense, before income taxes $ 16 $ 17 $ 8 Income tax benefit (5 ) (7 ) (3 ) $ 11 $ 10 $ 5 Capitalized share-based compensation cost $ 4 $ 4 $ 3 Excess income tax deficiency (benefit) $ 2 $ — $ (4 ) |
Schedule Of Non-qualified Stock Options | The following table shows a summary of non-qualified stock options at December 31, 2018 and activity for the year then ended: NON-QUALIFIED STOCK OPTIONS Common shares under option Weighted- average exercise price Weighted- average remaining contractual term (in years) Aggregate intrinsic value (in millions) Outstanding at January 1, 2018 195,801 $ 50.30 Exercised (138,861 ) $ 48.53 Outstanding at December 31, 2018 56,940 $ 54.63 0.9 $ 3 Vested at December 31, 2018 56,940 $ 54.63 0.9 $ 3 Exercisable at December 31, 2018 56,940 $ 54.63 0.9 $ 3 |
Schedule Of Restricted Stock Awards And Units Valuation Assumptions | Below are key assumptions for Sempra Energy awards granted in the last three years: KEY ASSUMPTIONS FOR AWARDS GRANTED Years ended December 31, 2018 2017 2016 Risk-free rate of return 2.0 % 1.5 % 1.3 % Stock price volatility 17 17 16 |
Schedule Of Restricted Stock Units | We provide below a summary of Sempra Energy’s RSUs as of December 31, 2018 and the activity during the year. RESTRICTED STOCK UNITS Performance-based restricted stock units Service-based restricted stock units Units Weighted- average grant-date fair value Units Weighted- average Nonvested at January 1, 2018 1,701,617 $ 105.84 285,895 $ 98.81 Granted 358,363 $ 105.03 288,474 $ 107.60 Vested (157,745 ) $ 99.42 (163,609 ) $ 100.60 Forfeited (660,066 ) $ 106.45 (8,399 ) $ 103.32 Nonvested at December 31, 2018 (1) 1,242,169 $ 106.11 402,361 $ 105.01 Expected to vest at December 31, 2018 1,211,529 $ 105.47 396,358 $ 104.26 (1) Each RSU represents the right to receive one share of our common stock if applicable performance conditions are satisfied. For all performance-based RSUs, except for those issued in connection with the creation of Cameron LNG JV, up to an additional 100 percent |
DERIVATIVE FINANCIAL INSTRUME_2
DERIVATIVE FINANCIAL INSTRUMENTS (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Commodity Derivative Volumes Table | The following table summarizes net energy derivative volumes. NET ENERGY DERIVATIVE VOLUMES (Quantities in millions) December 31, Commodity Unit of measure 2018 2017 Sempra Energy Consolidated: Natural gas MMBtu 35 46 Electricity MWh 2 3 Congestion revenue rights MWh 52 59 SDG&E: Natural gas MMBtu 33 39 Electricity MWh 2 3 Congestion revenue rights MWh 52 59 |
Notional Amounts Of Interest Rate Derivatives Table | The following table presents the net notional amounts of our interest rate derivatives, excluding JVs. INTEREST RATE DERIVATIVES (Dollars in millions) December 31, 2018 December 31, 2017 Notional debt Maturities Notional debt Maturities Sempra Energy Consolidated: Cash flow hedges (1)(2) $ 594 2019-2032 $ 861 2018-2032 SDG&E: Cash flow hedge (1)(2) 142 2019 295 2018-2019 (1) Includes Otay Mesa VIE. All of SDG&E’s interest rate derivatives relate to Otay Mesa VIE. (2) In December 2018, OMEC LLC entered into new floating-to-fixed interest rate swaps with notional amounts of $159 million effective April 30, 2019 through October 31, 2019, and $142 million FOREIGN CURRENCY DERIVATIVES (Dollars in millions) December 31, 2018 December 31, 2017 Notional amount Maturities Notional amount Maturities Sempra Energy Consolidated: Cross-currency swaps $ 306 2019-2023 $ 408 2018-2023 Other foreign currency derivatives 1,158 2019-2020 345 2018-2019 |
Derivative Instruments on the Consolidated Balance Sheet Table | The following tables provide the fair values of derivative instruments on the Consolidated Balance Sheets at December 31, 2018 and 2017 , including the amount of cash collateral receivables that were not offset, as the cash collateral was in excess of liability positions. DERIVATIVE INSTRUMENTS ON THE CONSOLIDATED BALANCE SHEETS (Dollars in millions) December 31, 2018 Current assets: Other (1) Other assets: Sundry Current liabilities: Other Deferred credits and other liabilities: Deferred credits and other Sempra Energy Consolidated: Derivatives designated as hedging instruments: Interest rate and foreign exchange instruments (2) $ 2 $ — $ (3 ) $ (147 ) Derivatives not designated as hedging instruments: Commodity contracts not subject to rate recovery 153 7 (164 ) (6 ) Associated offsetting commodity contracts (133 ) (3 ) 133 3 Commodity contracts subject to rate recovery 64 233 (42 ) (72 ) Associated offsetting commodity contracts (6 ) (2 ) 6 2 Associated offsetting cash collateral — — — 2 Net amounts presented on the balance sheet 80 235 (70 ) (218 ) Additional cash collateral for commodity contracts not subject to rate recovery 19 — — — Additional cash collateral for commodity contracts subject to rate recovery 33 — — — Total (3) $ 132 $ 235 $ (70 ) $ (218 ) SDG&E: Derivatives designated as hedging instruments: Interest rate instruments (2) $ — $ — $ (1 ) $ — Derivatives not designated as hedging instruments: Commodity contracts subject to rate recovery 60 233 (37 ) (72 ) Associated offsetting commodity contracts (6 ) (2 ) 6 2 Associated offsetting cash collateral — — — 2 Net amounts presented on the balance sheet 54 231 (32 ) (68 ) Additional cash collateral for commodity contracts subject to rate recovery 28 — — — Total (3) $ 82 $ 231 $ (32 ) $ (68 ) SoCalGas: Derivatives not designated as hedging instruments: Commodity contracts subject to rate recovery $ 4 $ — $ (5 ) $ — Net amounts presented on the balance sheet 4 — (5 ) — Additional cash collateral for commodity contracts subject to rate recovery 5 — — — Total $ 9 $ — $ (5 ) $ — (1) Included in Current Assets: Fixed-Price Contracts and Other Derivatives for SDG&E. (2) Includes Otay Mesa VIE. All of SDG&E’s amounts relate to Otay Mesa VIE. (3) Normal purchase contracts previously measured at fair value are excluded. DERIVATIVE INSTRUMENTS ON THE CONSOLIDATED BALANCE SHEETS (Dollars in millions) December 31, 2017 Current assets: Other (1) Other assets: Sundry Current liabilities: Other Deferred credits and other liabilities: Deferred credits and other Sempra Energy Consolidated: Derivatives designated as hedging instruments: Interest rate and foreign exchange instruments (2) $ 5 $ 2 $ (51 ) $ (165 ) Derivatives not designated as hedging instruments: Foreign exchange instruments — — (1 ) — Commodity contracts not subject to rate recovery 81 8 (72 ) (6 ) Associated offsetting commodity contracts (67 ) (5 ) 67 5 Commodity contracts subject to rate recovery 28 101 (65 ) (120 ) Associated offsetting commodity contracts — (1 ) — 1 Associated offsetting cash collateral — — 19 4 Net amounts presented on the balance sheet 47 105 (103 ) (281 ) Additional cash collateral for commodity contracts not subject to rate recovery 2 — — — Additional cash collateral for commodity contracts subject to rate recovery 17 — — — Total (3) $ 66 $ 105 $ (103 ) $ (281 ) SDG&E: Derivatives designated as hedging instruments: Interest rate instruments (2) $ — $ — $ (10 ) $ (3 ) Derivatives not designated as hedging instruments: Commodity contracts subject to rate recovery 26 101 (63 ) (120 ) Associated offsetting commodity contracts — (1 ) — 1 Associated offsetting cash collateral — — 19 4 Net amounts presented on the balance sheet 26 100 (54 ) (118 ) Additional cash collateral for commodity contracts subject to rate recovery 16 — — — Total (3) $ 42 $ 100 $ (54 ) $ (118 ) SoCalGas: Derivatives not designated as hedging instruments: Commodity contracts subject to rate recovery $ 2 $ — $ (2 ) $ — Net amounts presented on the balance sheet 2 — (2 ) — Additional cash collateral for commodity contracts subject to rate recovery 1 — — — Total $ 3 $ — $ (2 ) $ — (1) Included in Current Assets: Fixed-Price Contracts and Other Derivatives for SDG&E. (2) Includes Otay Mesa VIE. All of SDG&E’s amounts relate to Otay Mesa VIE. (3) |
Fair Value Hedge Impact on the Consolidated Statement of Operations Table | The table below presents the effects of derivative instruments designated as fair value hedges on the Consolidated Statement of Operations. There were no fair value hedges outstanding for the years ended December 31, 2018 or 2017. FAIR VALUE HEDGE IMPACTS (Dollars in millions) Pretax gain (loss) on derivatives recognized in earnings Location Year ended December 31, 2016 Sempra Energy Consolidated: Interest rate instruments Interest Expense $ 3 Interest rate instruments Other Income, Net (2 ) Total $ 1 |
Cash Flow Hedge Impact on the Consolidated Statements Of Operations Table | The table below includes the effects of derivative instruments designated as cash flow hedges on the Consolidated Statements of Operations and in OCI and AOCI. CASH FLOW HEDGE IMPACTS (Dollars in millions) Pretax gain (loss) recognized in OCI Pretax gain (loss) reclassified from AOCI into earnings Years ended December 31, Years ended December 31, 2018 2017 2016 Location 2018 2017 2016 Sempra Energy Consolidated: Interest rate and foreign exchange instruments (1) $ 31 $ 19 $ (8 ) Interest Expense $ — $ 4 $ (17 ) Other Income, Net 2 — — Interest rate instruments — — — Gain on Sale of Assets (9 ) — — Interest rate and foreign exchange instruments 41 (34 ) (4 ) Equity Earnings (7 ) (20 ) (15 ) Interest rate and foreign exchange instruments — — — Remeasurement of Equity Method Investment — — (7 ) Foreign exchange instruments (4 ) 4 4 Revenues: Energy- Related Businesses 1 2 — Commodity contracts not subject to rate recovery — 3 (13 ) Revenues: Energy- Related Businesses — (9 ) 6 Total $ 68 $ (8 ) $ (21 ) $ (13 ) $ (23 ) $ (33 ) SDG&E: Interest rate instruments (1) $ 1 $ (2 ) $ (2 ) Interest Expense $ (7 ) $ (13 ) $ (12 ) SoCalGas: Interest rate instruments $ — $ — $ — Interest Expense $ (1 ) $ — $ (1 ) (1) |
Undesignated Derivative Impact on the Consolidated Statements of Operations | The following table summarizes the effects of derivative instruments not designated as hedging instruments on the Consolidated Statements of Operations. UNDESIGNATED DERIVATIVE IMPACTS (Dollars in millions) Pretax gain (loss) on derivatives recognized in earnings Years ended December 31, Location 2018 2017 2016 Sempra Energy Consolidated: Foreign exchange instruments Other Income, Net $ 3 $ 49 $ (32 ) Foreign exchange instruments Equity Earnings — 1 3 Commodity contracts not subject to rate recovery Revenues: Energy-Related Businesses 26 16 (18 ) Commodity contracts not subject to rate recovery Operation and Maintenance — — 1 Commodity contracts subject to rate recovery Cost of Electric Fuel and Purchased Power 279 54 (53 ) Commodity contracts subject to rate recovery Cost of Natural Gas 5 (2 ) (4 ) Total $ 313 $ 118 $ (103 ) SDG&E: Commodity contracts subject to rate recovery Cost of Electric Fuel and Purchased Power $ 279 $ 54 $ (53 ) SoCalGas: Commodity contracts not subject to rate recovery Operation and Maintenance $ — $ — $ 1 Commodity contracts subject to rate recovery Cost of Natural Gas 5 (2 ) (4 ) Total $ 5 $ (2 ) $ (3 ) |
FAIR VALUE MEASUREMENTS (Tables
FAIR VALUE MEASUREMENTS (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
Recurring Fair Value Measures Table | RECURRING FAIR VALUE MEASURES – SEMPRA ENERGY CONSOLIDATED (Dollars in millions) Fair value at December 31, 2018 Level 1 Level 2 Level 3 Total Assets: Nuclear decommissioning trusts: Equity securities $ 407 $ 4 $ — $ 411 Debt securities: Debt securities issued by the U.S. Treasury and other U.S. government corporations and agencies 43 10 — 53 Municipal bonds — 269 — 269 Other securities — 234 — 234 Total debt securities 43 513 — 556 Total nuclear decommissioning trusts (1) 450 517 — 967 Interest rate and foreign exchange instruments — 2 — 2 Commodity contracts not subject to rate recovery — 24 — 24 Effect of netting and allocation of collateral (2) 19 — — 19 Commodity contracts subject to rate recovery 2 9 278 289 Effect of netting and allocation of collateral (2) 28 — 5 33 Total $ 499 $ 552 $ 283 $ 1,334 Liabilities: Interest rate and foreign exchange instruments $ — $ 150 $ — $ 150 Commodity contracts not subject to rate recovery — 34 — 34 Commodity contracts subject to rate recovery 2 5 99 106 Effect of netting and allocation of collateral (2) (2 ) — — (2 ) Total $ — $ 189 $ 99 $ 288 Fair value at December 31, 2017 Level 1 Level 2 Level 3 Total Assets: Nuclear decommissioning trusts: Equity securities $ 491 $ 5 $ — $ 496 Debt securities: Debt securities issued by the U.S. Treasury and other U.S. government corporations and agencies 45 9 — 54 Municipal bonds — 250 — 250 Other securities — 217 — 217 Total debt securities 45 476 — 521 Total nuclear decommissioning trusts (1) 536 481 — 1,017 Interest rate and foreign exchange instruments — 7 — 7 Commodity contracts not subject to rate recovery 5 12 — 17 Effect of netting and allocation of collateral (2) 2 — — 2 Commodity contracts subject to rate recovery — 2 126 128 Effect of netting and allocation of collateral (2) 12 — 5 17 Total $ 555 $ 502 $ 131 $ 1,188 Liabilities: Interest rate and foreign exchange instruments $ — $ 217 $ — $ 217 Commodity contracts not subject to rate recovery — 6 — 6 Commodity contracts subject to rate recovery 23 7 154 184 Effect of netting and allocation of collateral (2) (23 ) — — (23 ) Total $ — $ 230 $ 154 $ 384 (1) Excludes cash balances and cash equivalents. (2) Includes the effect of the contractual ability to settle contracts under master netting agreements and with cash collateral, as well as cash collateral not offset. RECURRING FAIR VALUE MEASURES – SDG&E (Dollars in millions) Fair value at December 31, 2018 Level 1 Level 2 Level 3 Total Assets: Nuclear decommissioning trusts: Equity securities $ 407 $ 4 $ — $ 411 Debt securities: Debt securities issued by the U.S. Treasury and other U.S. government corporations and agencies 43 10 — 53 Municipal bonds — 269 — 269 Other securities — 234 — 234 Total debt securities 43 513 — 556 Total nuclear decommissioning trusts (1) 450 517 — 967 Commodity contracts subject to rate recovery 1 6 278 285 Effect of netting and allocation of collateral (2) 23 — 5 28 Total $ 474 $ 523 $ 283 $ 1,280 Liabilities: Interest rate instruments $ — $ 1 $ — $ 1 Commodity contracts subject to rate recovery 2 — 99 101 Effect of netting and allocation of collateral (2) (2 ) — — (2 ) Total $ — $ 1 $ 99 $ 100 Fair value at December 31, 2017 Level 1 Level 2 Level 3 Total Assets: Nuclear decommissioning trusts: Equity securities $ 491 $ 5 $ — $ 496 Debt securities: Debt securities issued by the U.S. Treasury and other U.S. government corporations and agencies 45 9 — 54 Municipal bonds — 250 — 250 Other securities — 217 — 217 Total debt securities 45 476 — 521 Total nuclear decommissioning trusts (1) 536 481 — 1,017 Commodity contracts subject to rate recovery — — 126 126 Effect of netting and allocation of collateral (2) 11 — 5 16 Total $ 547 $ 481 $ 131 $ 1,159 Liabilities: Interest rate instruments $ — $ 13 $ — $ 13 Commodity contracts subject to rate recovery 23 5 154 182 Effect of netting and allocation of collateral (2) (23 ) — — (23 ) Total $ — $ 18 $ 154 $ 172 (1) Excludes cash balances and cash equivalents. (2) Includes the effect of the contractual ability to settle contracts under master netting agreements and with cash collateral, as well as cash collateral not offset. RECURRING FAIR VALUE MEASURES – SOCALGAS (Dollars in millions) Fair value at December 31, 2018 Level 1 Level 2 Level 3 Total Assets: Commodity contracts subject to rate recovery $ 1 $ 3 $ — $ 4 Effect of netting and allocation of collateral (1) 5 — — 5 Total $ 6 $ 3 $ — $ 9 Liabilities: Commodity contracts subject to rate recovery $ — $ 5 $ — $ 5 Total $ — $ 5 $ — $ 5 Fair value at December 31, 2017 Level 1 Level 2 Level 3 Total Assets: Commodity contracts subject to rate recovery $ — $ 2 $ — $ 2 Effect of netting and allocation of collateral (1) 1 — — 1 Total $ 1 $ 2 $ — $ 3 Liabilities: Commodity contracts subject to rate recovery $ — $ 2 $ — $ 2 Total $ — $ 2 $ — $ 2 (1 ) |
Recurring Fair Value Measures Level 3 Rollforward Table | The following table sets forth reconciliations of changes in the fair value of CRRs and long-term, fixed-price electricity positions classified as Level 3 in the fair value hierarchy for Sempra Energy Consolidated and SDG&E: LEVEL 3 RECONCILIATIONS (1) (Dollars in millions) Years ended December 31, 2018 2017 2016 Balance at January 1 $ (28 ) $ (74 ) $ 19 Realized and unrealized gains (losses) 209 34 (120 ) Allocated transmission instruments 10 6 8 Settlements (12 ) 6 19 Balance at December 31 $ 179 $ (28 ) $ (74 ) Change in unrealized gains (losses) relating to instruments still held at December 31 $ 183 $ 30 $ (101 ) (1) |
Schedule of Auction Price Inputs | For the CRRs settling from January 1 to December 31, the auction price inputs, at a given location, were in the following ranges for the years indicated below: CONGESTION REVENUE RIGHTS AUCTION PRICE INPUTS Settlement year Price per MWh Median price per MWh 2019 $ (8.57 ) to $ 35.21 $ (2.94 ) 2018 (7.25 ) to 11.99 0.09 2017 (11.88 ) to 6.93 (0.14 ) LONG-TERM, FIXED-PRICE ELECTRICITY POSITIONS PRICE INPUTS Settlement year Price per MWh Weighted-average price per MWh 2018 $ 22.20 to $ 76.85 $ 42.69 2017 22.55 to 44.10 35.23 |
Fair Value of Financial Instruments Table | The following table provides the carrying amounts and fair values of certain other financial instruments that are not recorded at fair value on the Consolidated Balance Sheets at December 31, 2018 and 2017 : FAIR VALUE OF FINANCIAL INSTRUMENTS (Dollars in millions) December 31, 2018 Carrying Fair value amount Level 1 Level 2 Level 3 Total Sempra Energy Consolidated: Long-term amounts due from unconsolidated affiliates $ 688 $ — $ 648 $ 47 $ 695 Long-term amounts due to unconsolidated affiliates 37 — 35 — 35 Total long-term debt (1)(2) 22,067 — 21,274 351 21,625 SDG&E: Total long-term debt (2)(3) $ 4,996 $ — $ 4,897 $ 220 $ 5,117 SoCalGas: Total long-term debt (4) $ 3,459 $ — $ 3,505 $ — $ 3,505 December 31, 2017 Carrying Fair value amount Level 1 Level 2 Level 3 Total Sempra Energy Consolidated: Long-term amounts due from unconsolidated affiliates $ 598 $ — $ 510 $ 108 $ 618 Long-term amounts due to unconsolidated affiliates 35 — 32 — 32 Total long-term debt (1)(2) 17,138 817 17,134 458 18,409 SDG&E: Total long-term debt (2)(3) $ 4,868 $ — $ 5,073 $ 295 $ 5,368 SoCalGas: Total long-term debt (4) $ 3,009 $ — $ 3,192 $ — $ 3,192 (1) Before reductions for unamortized discount (net of premium) and debt issuance costs of $202 million and $143 million at December 31, 2018 and 2017 , respectively, and excluding build-to-suit and capital lease obligations of $1,419 million and $877 million at December 31, 2018 and 2017 , respectively. We discuss our long-term debt in Note 7 . (2) Level 3 instruments include $220 million and $295 million at December 31, 2018 and 2017 , respectively, related to Otay Mesa VIE. (3) Before reductions for unamortized discount and debt issuance costs of $49 million and $45 million at December 31, 2018 and 2017 , respectively, and excluding capital lease obligations of $1,272 million and $732 million at December 31, 2018 and 2017 , respectively. (4) Before reductions for unamortized discount and debt issuance costs of $32 million and $24 million at December 31, 2018 and 2017 , respectively, and excluding capital lease obligations of $3 million and $1 million |
Fair Value Measurements, Nonrecurring Table | The table below summarizes significant inputs impacting our non-recurring fair value measures. Additional discussions about the related transactions are provided in Note 5 , and as applicable, in Note 6 . NON-RECURRING FAIR VALUE MEASURES – SEMPRA ENERGY CONSOLIDATED Measurement date Estimated fair value (in millions) Valuation technique Fair value hierarchy % of fair value measurement Inputs used to Range of Non-utility natural gas storage assets December 31, 2018 $ 337 (1) Market approach Level 2 100% Assets’ sales prices 100% Non-utility natural gas storage assets June 25, 2018 $ 190 (1)(2) Discounted cash flows Level 3 100% Storage rates $0.06 - $0.22 ($0.10) (3) Discount rate 10% (4) Certain of our U.S. wind equity method investments June 25, 2018 $ 145 (5) Discounted cash flows Level 3 100% Contracted and observable merchant prices per MWh $29 - $92 (3) Discount rate 8% - 10% (8.7%) (4) TdM June 30, 2017 $ 62 Market approach Level 2 100% Purchase price offer 100% TdM September 29, 2016 $ 145 Market approach Level 2 100% Purchase price offers 100% Investment in IEnova Pipelines September 26, 2016 $ 1,144 (6) Market approach Level 2 100% Equity sale price 100% Investment in March 29, 2016 $ 440 Market approach Level 2 100% Equity sale price 100% (1) Includes Mississippi Hub, Bay Gas and other non-utility assets, which are classified as held for sale at December 31, 2018 with a net carrying value of $323 million , reflecting estimated costs to sell. (2) Includes LA Storage, which continues to be classified as PP&E. (3) Generally, significant increases (decreases) in this input in isolation would result in a significantly higher (lower) fair value measurement. (4) An increase in the discount rate would result in a decrease in fair value. (5) At December 31, 2018 , these U.S. wind equity method investments had a carrying value of $139 million , reflecting subsequent business activity. (6) Immediately prior to acquiring a 100 |
PREFERRED STOCK (Tables)
PREFERRED STOCK (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Equity [Abstract] | |
Schedule Of Preferred Stock | The following table illustrates the conversion rate per share of each series of preferred stock, subject to certain anti-dilution adjustments. CONVERSION RATES Applicable market value per share of Conversion rate (number of shares of our common stock to be received upon conversion of each share of mandatory convertible preferred stock) Series A preferred stock Greater than $131.075 (which is the threshold appreciation price) 0.7629 shares (approximately equal to $100.00 divided by the threshold appreciation price) Equal to or less than $131.075 but greater than or equal to $107.00 Between 0.7629 and 0.9345 shares, determined by dividing $100.00 by the applicable market value of our common stock Less than $107.00 (which is the initial price) 0.9345 shares (approximately equal to $100.00 divided by the initial price) Series B preferred stock Greater than $136.50 (which is the threshold appreciation price) 0.7326 shares (approximately equal to $100.00 divided by the threshold appreciation price) Equal to or less than $136.50 but greater than or equal to $113.75 Between 0.7326 and 0.8791 shares, determined by dividing $100.00 by the applicable market value of our common stock Less than $113.75 (which is the initial price) 0.8791 shares (approximately equal to $100.00 divided by the initial price) PREFERRED STOCK OUTSTANDING (Dollars in millions, except per share amounts) December 31, 2018 2017 $25 par value, authorized 1,000,000 shares: 6% Series, 79,011 shares outstanding $ 3 $ 3 6% Series A, 783,032 shares outstanding 19 19 SoCalGas - Total preferred stock 22 22 Less: 50,970 shares of the 6% Series outstanding owned by Pacific Enterprises (2 ) (2 ) Sempra Energy - Total preferred stock of subsidiary $ 20 $ 20 |
SEMPRA ENERGY - SHAREHOLDERS'_2
SEMPRA ENERGY - SHAREHOLDERS' EQUITY AND EARNINGS PER SHARE (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Earnings Per Share [Abstract] | |
Schedule Of Earnings Per Share Computations | Basic EPS is calculated by dividing earnings attributable to common shares by the weighted-average common shares outstanding for the year. Diluted EPS includes the potential dilution of common stock equivalent shares that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. EARNINGS PER COMMON SHARE COMPUTATIONS (Dollars in millions, except per share amounts; shares in thousands) Years ended December 31, 2018 2017 2016 Numerator: Earnings attributable to common shares $ 924 $ 256 $ 1,370 Denominator: Weighted-average common shares outstanding for basic EPS (1) 268,072 251,545 250,217 Dilutive effect of stock options, RSAs and RSUs (2) 919 755 938 Dilutive effect of common shares sold forward 861 — — Weighted-average common shares outstanding for diluted EPS 269,852 252,300 251,155 EPS: Basic $ 3.45 $ 1.02 $ 5.48 Diluted $ 3.42 $ 1.01 $ 5.46 (1) Includes average fully vested RSUs held in our Deferred Compensation Plan of 641 in 2018, 609 in 2017 and 568 in 2016. These fully vested RSUs are included in weighted-average common shares outstanding for basic EPS because there are no conditions under which the corresponding shares will not be issued. (2) Due to market fluctuations of both Sempra Energy common stock and the comparative indices used to determine the vesting percentage of our total shareholder return performance-based RSUs, which we discuss in Note 10 |
Schedule Of Common Stock Activity | The following table provides common stock activity for the last three years. COMMON STOCK ACTIVITY Years ended December 31, 2018 2017 2016 Common shares outstanding, January 1 251,358,977 250,152,514 248,298,080 Shares issued under forward sale agreements 21,175,473 — — RSUs vesting (1) 509,042 362,022 1,363,555 Stock options exercised 138,861 164,454 167,742 Savings plan issuance 553,036 567,428 653,607 Common stock investment plan (2) 231,242 254,047 266,056 Issuance of RSUs held in our Deferred Compensation Plan 3,357 7,811 — Shares repurchased (3) (200,475 ) (149,299 ) (596,526 ) Common shares outstanding, December 31 273,769,513 251,358,977 250,152,514 (1) Includes dividend equivalents. (2) Participants in the Direct Stock Purchase Plan may reinvest dividends to purchase newly issued shares. (3) |
SAN ONOFRE NUCLEAR GENERATING_2
SAN ONOFRE NUCLEAR GENERATING STATION (SONGS) (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Regulated Operations [Abstract] | |
Schedule of Nuclear Decommissioning Trusts | The following table shows the fair values and gross unrealized gains and losses for the securities held in the NDT. We provide additional fair value disclosures for the NDT in Note 12 . NUCLEAR DECOMMISSIONING TRUSTS (Dollars in millions) Cost Gross unrealized gains Gross unrealized losses Estimated fair value At December 31, 2018: Debt securities: Debt securities issued by the U.S. Treasury and other U.S. government corporations and agencies (1) $ 52 $ 1 $ — $ 53 Municipal bonds (2) 266 4 (1 ) 269 Other securities (3) 238 1 (5 ) 234 Total debt securities 556 6 (6 ) 556 Equity securities 168 253 (10 ) 411 Cash and cash equivalents 7 — — 7 Total $ 731 $ 259 $ (16 ) $ 974 At December 31, 2017: Debt securities: Debt securities issued by the U.S. Treasury and other U.S. government corporations and agencies $ 54 $ — $ — $ 54 Municipal bonds 245 7 (2 ) 250 Other securities 215 3 (1 ) 217 Total debt securities 514 10 (3 ) 521 Equity securities 171 326 (1 ) 496 Cash and cash equivalents 16 — — 16 Total $ 701 $ 336 $ (4 ) $ 1,033 (1) Maturity dates are 2019-2048. (2) Maturity dates are 2019-2056. (3) |
Schedule of Securities Sold | The following table shows the proceeds from sales of securities in the NDT and gross realized gains and losses on those sales. SALES OF SECURITIES IN THE NDT (Dollars in millions) Years ended December 31, 2018 2017 2016 Proceeds from sales $ 890 $ 1,314 $ 1,134 Gross realized gains 42 157 111 Gross realized losses (10 ) (14 ) (29 ) |
COMMITMENTS AND CONTINGENCIES (
COMMITMENTS AND CONTINGENCIES (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule Of Estimated Future Payments Under Natural Gas Contracts | At December 31, 2018 , the future estimated payments under existing natural gas contracts and natural gas storage and transportation contracts are as follows: FUTURE ESTIMATED PAYMENTS – SEMPRA ENERGY CONSOLIDATED (Dollars in millions) Storage and transportation Natural gas (1) Total (1) 2019 $ 230 $ 33 $ 263 2020 158 15 173 2021 144 12 156 2022 73 12 85 2023 50 13 63 Thereafter 262 18 280 Total estimated payments $ 917 $ 103 $ 1,020 (1) Excludes amounts related to the LNG purchase agreement discussed below. FUTURE ESTIMATED PAYMENTS – SOCALGAS (Dollars in millions) Transportation Natural gas Total 2019 $ 114 $ 12 $ 126 2020 118 4 122 2021 104 — 104 2022 37 — 37 2023 23 1 24 Thereafter 49 — 49 Total estimated payments $ 445 $ 17 $ 462 |
Schedule Of Payments Under Natural Gas Contracts | Total payments under natural gas contracts and natural gas storage and transportation contracts as well as payments to meet additional portfolio needs at Sempra Energy Consolidated and SoCalGas were as follows: PAYMENTS UNDER NATURAL GAS CONTRACTS (Dollars in millions) Years ended December 31, 2018 2017 2016 Sempra Energy Consolidated $ 1,345 $ 1,429 $ 1,169 SoCalGas 1,169 1,213 966 |
Schedule Of L N G Commitment Amounts | At December 31, 2018 , the following LNG commitment amounts are based on the assumption that all cargoes, less those already confirmed to be diverted, under the agreement are delivered: LNG COMMITMENT AMOUNTS (Dollars in millions) 2019 $ 289 2020 372 2021 368 2022 373 2023 385 Thereafter 2,475 Total $ 4,262 |
Schedule Of Estimated Future Payments Under Purchased Power Contracts | At December 31, 2018 , the future estimated payments under long-term purchased-power contracts are as follows: FUTURE ESTIMATED PAYMENTS – PURCHASED-POWER CONTRACTS (Dollars in millions) Sempra Energy Consolidated SDG&E 2019 $ 654 $ 527 2020 629 510 2021 631 510 2022 592 496 2023 549 451 Thereafter 5,185 5,026 Total estimated payments (1)(2) $ 8,240 $ 7,520 (1) Excludes purchase agreements accounted for as capital leases and amounts related to Otay Mesa VIE, as it is consolidated by Sempra Energy and SDG&E. (2) Includes $5.2 billion of expected payments under purchase agreements accounted for as operating leases at SDG&E, comprised of renewable energy PPAs for which there are no future minimum operating lease payments. |
Schedule Of Payments Under Purchased Power Contracts | Total payments under purchased-power contracts were as follows: PAYMENTS UNDER PURCHASED-POWER CONTRACTS (Dollars in millions) Years ended December 31, 2018 2017 2016 Sempra Energy Consolidated $ 1,582 $ 1,694 $ 1,667 SDG&E 712 781 752 |
Schedule Of Operating Leases Rent Expense | Rent expense for operating leases was as follows: RENT EXPENSE – OPERATING LEASES (Dollars in millions) Years ended December 31, 2018 2017 2016 Sempra Energy Consolidated $ 123 $ 109 $ 77 SDG&E 27 28 28 SoCalGas 41 43 38 |
Schedule Of Operating Leases Future Minimum Payments Due | At December 31, 2018 , the rental commitments payable in future years under all noncancelable operating leases, including estimated payments, are as follows: FUTURE RENTAL PAYMENTS – OPERATING LEASES (Dollars in millions) 2019 2020 2021 2022 2023 Thereafter Total Sempra Energy Consolidated: Future minimum lease payments $ 79 $ 56 $ 54 $ 51 $ 44 $ 259 $ 543 Future estimated rental payments 12 12 13 13 13 44 107 Total future rental commitments $ 91 $ 68 $ 67 $ 64 $ 57 $ 303 $ 650 SDG&E: Future minimum lease payments $ 23 $ 22 $ 22 $ 21 $ 17 $ 48 $ 153 Future estimated rental payments 2 2 2 2 2 7 17 Total future rental commitments $ 25 $ 24 $ 24 $ 23 $ 19 $ 55 $ 170 SoCalGas: Future minimum lease payments $ 26 $ 22 $ 21 $ 20 $ 16 $ 28 $ 133 Future estimated rental payments 10 10 11 11 11 37 90 Total future rental commitments $ 36 $ 32 $ 32 $ 31 $ 27 $ 65 $ 223 |
Schedule Of Capital Leases Future Minimum Payments Present Value Of Net Minimum Payments | At December 31, 2018 , the future minimum lease payments and present value of the net minimum lease payments under these capital leases for both Sempra Energy Consolidated and SDG&E are as follows: FUTURE MINIMUM PAYMENTS – POWER PURCHASE AGREEMENTS (Dollars in millions) 2019 $ 210 2020 210 2021 211 2022 211 2023 211 Thereafter 3,196 Total minimum lease payments (1) 4,249 Less: estimated executory costs (480 ) Less: interest (2) (2,483 ) Present value of net minimum lease payments (3) $ 1,286 (1) This expense receives ratemaking treatment consistent with purchased-power costs, which are recovered in rates and have been recorded over the lives of the leases as Cost of Electric Fuel and Purchased Power on Sempra Energy’s and SDG&E’s Consolidated Statements of Operations. See discussion in Note 2 regarding the classification of this expense after adoption of the new lease standard in 2019. (2) Amount necessary to reduce net minimum lease payments to present value at the inception of the leases. (3) Includes $15 million in Current Portion of Long-Term Debt and $1,255 million in Long-Term Debt on Sempra Energy’s and SDG&E’s Consolidated Balance Sheets at December 31, 2018. The remaining present value of net minimum lease payments of $16 million will be recorded as finance leases when construction of the battery storage facilities is completed and delivery of contracted power commences. |
Schedule Of Environmental Remediation Costs Capitalized In Period | The following table shows our capital expenditures (including construction work in progress) in order to comply with environmental laws and regulations: CAPITAL EXPENDITURES FOR ENVIRONMENTAL ISSUES (Dollars in millions) Years ended December 31, 2018 2017 2016 Sempra Energy Consolidated (1) $ 101 $ 92 $ 53 SDG&E 38 46 17 SoCalGas 62 45 35 (1) |
Schedule Of Environmental Remediation Costs, Status Of Remediation Sites | The table below shows the status at December 31, 2018 of the California Utilities’ manufactured-gas sites and the third-party waste-disposal sites for which we have been identified as a PRP: STATUS OF ENVIRONMENTAL SITES # Sites complete (1) # Sites in process SDG&E: Manufactured-gas sites 3 — Third-party waste-disposal sites 2 1 SoCalGas: Manufactured-gas sites 39 3 Third-party waste-disposal sites 5 2 (1) There may be ongoing compliance obligations for completed sites, such as regular inspections, adherence to land use covenants and water quality monitoring |
Schedule of Environmental Loss Contingencies by Site | The following table shows our accrued liabilities for environmental matters at December 31, 2018 : ACCRUED LIABILITIES FOR ENVIRONMENTAL MATTERS (Dollars in millions) Manufactured- gas sites Waste disposal sites (PRP) (1) Other Total (2) SDG&E (3) $ — $ 2 $ 3 $ 5 SoCalGas (4) 30 1 — 31 Other — 1 — 1 Total Sempra Energy $ 30 $ 4 $ 3 $ 37 (1) Sites for which we have been identified as a PRP. (2) Includes $10 million , $1 million and $9 million classified as current liabilities, and $27 million , $4 million and $22 million classified as noncurrent liabilities on Sempra Energy’s, SDG&E’s and SoCalGas’ Consolidated Balance Sheets, respectively. (3) Does not include SDG&E’s liability for SONGS marine environment mitigation. (4) Does not include SoCalGas’ liability for environmental matters for the Leak at the Aliso Canyon natural gas storage facility. We discuss matters related to the Leak above in “Legal Proceedings – SoCalGas – Aliso Canyon Natural Gas Storage Facility Gas Leak.” |
Schedule Of Build To Suit Lease Future Minimum Payments Due | At December 31, 2018 , the future minimum lease payments on the lease are as follows: FUTURE MINIMUM PAYMENTS – BUILD-TO-SUIT LEASE (Dollars in millions) 2019 $ 10 2020 11 2021 11 2022 11 2023 11 Thereafter 217 Total minimum lease payments $ 271 |
SEGMENT INFORMATION (Tables)
SEGMENT INFORMATION (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information, by Segment | The following tables show selected information by segment from our Consolidated Statements of Operations and Consolidated Balance Sheets. We provide information about our equity method investments by segment in Note 6 . Amounts labeled as “All other” in the following tables consist primarily of activities of parent organizations. SEGMENT INFORMATION (Dollars in millions) Years ended December 31, 2018 2017 2016 REVENUES SDG&E $ 4,568 $ 4,476 $ 4,253 SoCalGas 3,962 3,785 3,471 Sempra South American Utilities 1,585 1,567 1,556 Sempra Mexico 1,376 1,196 725 Sempra Renewables 124 94 34 Sempra LNG & Midstream 472 540 508 Adjustments and eliminations (3 ) (1 ) — Intersegment revenues (1) (397 ) (450 ) (364 ) Total $ 11,687 $ 11,207 $ 10,183 INTEREST EXPENSE SDG&E $ 221 $ 203 $ 195 SoCalGas 115 102 97 Sempra South American Utilities 40 38 38 Sempra Mexico 120 97 13 Sempra Renewables 19 15 4 Sempra LNG & Midstream 21 39 43 All other 496 284 282 Intercompany eliminations (107 ) (119 ) (119 ) Total $ 925 $ 659 $ 553 INTEREST INCOME SDG&E $ 4 $ — $ — SoCalGas 2 1 1 Sempra South American Utilities 31 28 21 Sempra Mexico 65 23 6 Sempra Renewables 12 7 5 Sempra LNG & Midstream 49 56 71 All other 14 — — Intercompany eliminations (73 ) (69 ) (78 ) Total $ 104 $ 46 $ 26 DEPRECIATION AND AMORTIZATION SDG&E $ 688 $ 670 $ 646 SoCalGas 556 515 476 Sempra South American Utilities 58 54 49 Sempra Mexico 175 156 77 Sempra Renewables 27 38 6 Sempra LNG & Midstream 26 42 47 All other 19 15 11 Total $ 1,549 $ 1,490 $ 1,312 INCOME TAX EXPENSE (BENEFIT) SDG&E $ 173 $ 155 $ 280 SoCalGas 92 160 143 Sempra South American Utilities 95 80 80 Sempra Mexico 185 227 188 Sempra Renewables 71 (226 ) (38 ) Sempra LNG & Midstream (435 ) (119 ) (80 ) All other (85 ) 999 (184 ) Total $ 96 $ 1,276 $ 389 SEGMENT INFORMATION (CONTINUED) (Dollars in millions) Years ended December 31 or at December 31, 2018 2017 2016 EARNINGS (LOSSES) ATTRIBUTABLE TO COMMON SHARES SDG&E $ 669 $ 407 $ 570 SoCalGas (2) 400 396 349 Sempra Texas Utility 371 — — Sempra South American Utilities 199 186 156 Sempra Mexico 237 169 463 Sempra Renewables 328 252 55 Sempra LNG & Midstream (617 ) 150 (107 ) All other (2) (663 ) (1,304 ) (116 ) Total $ 924 $ 256 $ 1,370 EXPENDITURES FOR PROPERTY, PLANT & EQUIPMENT SDG&E $ 1,542 $ 1,555 $ 1,399 SoCalGas 1,538 1,367 1,319 Sempra South American Utilities 240 244 194 Sempra Mexico 368 248 330 Sempra Renewables 51 497 835 Sempra LNG & Midstream 31 20 117 All other 14 18 20 Total $ 3,784 $ 3,949 $ 4,214 ASSETS SDG&E $ 19,225 $ 17,844 $ 17,719 SoCalGas 15,389 14,159 13,424 Sempra Texas Utility 9,652 — — Sempra South American Utilities 4,107 4,060 3,591 Sempra Mexico 9,165 8,554 7,542 Sempra Renewables 2,549 2,898 3,644 Sempra LNG & Midstream 4,060 4,872 5,564 All other 731 915 475 Intersegment receivables (4,240 ) (2,848 ) (4,173 ) Total $ 60,638 $ 50,454 $ 47,786 GEOGRAPHIC INFORMATION Long-lived assets (3) : United States $ 40,611 $ 31,487 $ 28,351 Mexico 5,800 5,363 4,814 South America 2,374 2,180 1,863 Total $ 48,785 $ 39,030 $ 35,028 Revenues (4) : United States $ 8,840 $ 8,547 $ 8,004 South America 1,585 1,567 1,556 Mexico 1,262 1,093 623 Total $ 11,687 $ 11,207 $ 10,183 (1) Revenues for reportable segments include intersegment revenues of $4 million , $64 million , $114 million and $215 million for 2018 , $7 million , $74 million , $103 million , and $266 million for 2017 , and $6 million , $76 million , $102 million and $180 million for 2016 for SDG&E, SoCalGas, Sempra Mexico and Sempra LNG & Midstream, respectively. (2) After preferred dividends. (3) Includes net PP&E and investments. (4) |
QUARTERLY FINANCIAL DATA (UNA_2
QUARTERLY FINANCIAL DATA (UNAUDITED) (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Quarterly Financial Data [Abstract] | |
Schedule Of Quarterly Financial Data Table | We provide quarterly financial information for Sempra Energy Consolidated, SDG&E and SoCalGas below: SEMPRA ENERGY (In millions, except per share amounts) Quarters ended March 31 June 30 September 30 December 31 2018: Revenues $ 2,962 $ 2,564 $ 2,940 $ 3,221 Expenses and other income $ 2,295 $ 3,673 $ 2,513 $ 2,160 Net income (loss) $ 358 $ (530 ) $ 334 $ 964 Earnings (losses) attributable to common shares $ 347 $ (561 ) $ 274 $ 864 Basic per-share amounts (1) : Net income (loss) $ 1.39 $ (1.99 ) $ 1.22 $ 3.51 Earnings (losses) attributable to common shares $ 1.34 $ (2.11 ) $ 1.00 $ 3.15 Weighted-average common shares outstanding 257.9 265.8 273.9 274.3 Diluted per-share amounts (1)(2) : Net income (loss) $ 1.38 $ (1.99 ) $ 1.21 $ 3.25 Earnings (losses) attributable to common shares (3) $ 1.33 $ (2.11 ) $ 0.99 $ 3.03 Weighted-average common shares outstanding 259.5 265.8 275.9 296.4 2017: Revenues $ 3,031 $ 2,533 $ 2,679 $ 2,964 Expenses and other income (4) $ 2,279 $ 2,136 $ 2,674 $ 2,567 Net income (loss) $ 452 $ 248 $ 102 $ (451 ) Earnings (losses) attributable to common shares $ 441 $ 259 $ 57 $ (501 ) Basic per-share amounts (1) : Net income (loss) $ 1.80 $ 0.99 $ 0.41 $ (1.80 ) Earnings (losses) attributable to common shares $ 1.76 $ 1.03 $ 0.23 $ (1.99 ) Weighted-average common shares outstanding 251.1 251.4 251.7 251.9 Diluted per-share amounts (1)(2) : Net income (loss) $ 1.79 $ 0.98 $ 0.41 $ (1.80 ) Earnings (losses) attributable to common shares $ 1.75 $ 1.03 $ 0.22 $ (1.99 ) Weighted-average common shares outstanding 252.2 252.8 253.4 251.9 (1) EPS is computed independently for each of the quarters and therefore may not sum to the total for the year. (2) In the quarters ended June 30, 2018 and December 31, 2017, the total weighted-average potentially dilutive securities were not included in the computation of losses per common share since to do so would have decreased the loss per share. (3) Due to the dilutive effect of the mandatory convertible preferred stock in the quarter ended December 31, 2018, the numerator used to calculate diluted EPS included an add-back of $36 million of mandatory convertible preferred stock dividends declared in that quarter. (4) SDG&E (Dollars in millions) Quarters ended March 31 June 30 September 30 December 31 2018: Operating revenues $ 1,055 $ 1,051 $ 1,299 $ 1,163 Operating expenses 807 836 999 916 Operating income $ 248 $ 215 $ 300 $ 247 Net income $ 169 $ 146 $ 216 $ 145 Losses (earnings) attributable to noncontrolling interest 1 — (11 ) 3 Earnings attributable to common shares $ 170 $ 146 $ 205 $ 148 2017: Operating revenues $ 1,057 $ 1,058 $ 1,236 $ 1,125 Operating expenses (1) 783 821 1,294 869 Operating income (loss) (1) $ 274 $ 237 $ (58 ) $ 256 Net income (loss) $ 157 $ 153 $ (19 ) $ 130 (Earnings) losses attributable to noncontrolling interest (2 ) (4 ) (9 ) 1 Earnings (losses) attributable to common shares $ 155 $ 149 $ (28 ) $ 131 (1) As adjusted for the retrospective adoption of ASU 2017-07, which we discuss in Note 2 . SOCALGAS (Dollars in millions) Quarters ended March 31 June 30 September 30 December 31 2018: Operating revenues $ 1,126 $ 772 $ 802 $ 1,262 Operating expenses 848 703 797 1,023 Operating income $ 278 $ 69 $ 5 $ 239 Net income (loss) $ 225 $ 34 $ (14 ) $ 156 Dividends on preferred stock — (1 ) — — Earnings (losses) attributable to common shares $ 225 $ 33 $ (14 ) $ 156 2017: Operating revenues $ 1,241 $ 770 $ 684 $ 1,090 Operating expenses (1) 929 690 679 860 Operating income (1) $ 312 $ 80 $ 5 $ 230 Net income $ 203 $ 59 $ 7 $ 128 Dividends on preferred stock — (1 ) — — Earnings attributable to common shares $ 203 $ 58 $ 7 $ 128 (1) As adjusted for the retrospective adoption of ASU 2017-07, which we discuss in Note 2 |
SCHEDULE I - CONDENSED FINANC_3
SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF PARENT (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Condensed Financial Information Disclosure [Abstract] | |
Schedule of Condensed Statements of Operations | SEMPRA ENERGY CONDENSED STATEMENTS OF OPERATIONS (Dollars in millions, except per share amounts) Years ended December 31, 2018 2017 (1) 2016 (1) Interest income $ 14 $ — $ — Interest expense (495 ) (293 ) (277 ) Operating expenses (82 ) (80 ) (76 ) Other (expense) income, net (16 ) 100 (7 ) Income tax benefit 154 33 181 Loss before equity in earnings of subsidiaries (425 ) (240 ) (179 ) Equity in earnings of subsidiaries, net of income taxes 1,474 496 1,549 Net income 1,049 256 1,370 Mandatory convertible preferred stock dividends (125 ) — — Earnings $ 924 $ 256 $ 1,370 Basic earnings per common share $ 3.45 $ 1.02 $ 5.48 Weighted-average shares outstanding, basic (thousands) 268,072 251,545 250,217 Diluted earnings per common share $ 3.42 $ 1.01 $ 5.46 Weighted-average shares outstanding, diluted (thousands) 269,852 252,300 251,155 (1) As adjusted for the retrospective adoption of ASU 2017-07, which we discuss in Note 2. |
Schedule Of Condensed Statements Of Comprehensive Income | SEMPRA ENERGY CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Dollars in millions) Years ended December 31, 2018, 2017 and 2016 Pretax amount Income tax benefit (expense) Net-of-tax amount 2018: Net income $ 895 $ 154 $ 1,049 Other comprehensive income (loss): Foreign currency translation adjustments (144 ) — (144 ) Financial instruments 64 (21 ) 43 Pension and other postretirement benefits (38 ) 4 (34 ) Total other comprehensive loss (118 ) (17 ) (135 ) Comprehensive income $ 777 $ 137 $ 914 2017: Net income $ 223 $ 33 $ 256 Other comprehensive income (loss): Foreign currency translation adjustments 107 — 107 Financial instruments 2 1 3 Pension and other postretirement benefits 20 (8 ) 12 Total other comprehensive income 129 (7 ) 122 Comprehensive income $ 352 $ 26 $ 378 2016: Net income $ 1,189 $ 181 $ 1,370 Other comprehensive income (loss): Foreign currency translation adjustments 42 — 42 Financial instruments (6 ) 11 5 Pension and other postretirement benefits (13 ) 4 (9 ) Total other comprehensive income 23 15 38 Comprehensive income $ 1,212 $ 196 $ 1,408 |
Schedule Of Condensed Balance Sheets | SEMPRA ENERGY CONDENSED BALANCE SHEETS (Dollars in millions) December 31, December 31, Assets: Cash and cash equivalents $ 14 $ 104 Due from affiliates 93 83 Income taxes receivable 397 272 Other current assets 9 6 Total current assets 513 465 Investments in subsidiaries 28,778 17,924 Due from affiliates 3 2 Deferred income taxes 1,554 1,802 Other assets 572 656 Total assets $ 31,420 $ 20,849 Liabilities and shareholders’ equity: Current portion of long-term debt $ 1,498 $ 500 Due to affiliates 287 280 Other current liabilities 527 396 Total current liabilities 2,312 1,176 Long-term debt 9,647 6,198 Due to affiliates 1,812 300 Other long-term liabilities 511 505 Commitments and contingencies (Note 4) Shareholders’ equity 17,138 12,670 Total liabilities and shareholders’ equity $ 31,420 $ 20,849 |
Schedule of Condensed Statements of Cash Flows | SEMPRA ENERGY CONDENSED STATEMENTS OF CASH FLOWS (Dollars in millions) Years ended December 31, 2018 2017 2016 Net cash provided by (used in) operating activities $ 213 $ 89 $ (3 ) Expenditures for property, plant and equipment (11 ) (11 ) (5 ) Expenditures for acquisition (329 ) — — Capital contributions to investees (9,457 ) — — (Increase) decrease in loans to affiliates, net (1 ) — 457 Expenditures for Merger-related costs — (12 ) — Net cash (used in) provided by investing activities (9,798 ) (23 ) 452 Common stock dividends paid (877 ) (755 ) (686 ) Preferred dividends paid (89 ) — — Issuances of mandatory convertible preferred stock, net of $42 in offering costs in 2018 2,258 — — Issuances of common stock, net of $41 in offering costs in 2018 2,272 47 51 Repurchases of common stock (21 ) (15 ) (56 ) Issuances of long-term debt 4,969 1,595 499 Payments on long-term debt (500 ) (600 ) (750 ) Increase (decrease) in loans from affiliates, net 1,520 (239 ) 504 Debt issuance costs (37 ) (7 ) (3 ) Net cash provided by (used in) financing activities 9,495 26 (441 ) (Decrease) increase in cash and cash equivalents (90 ) 92 8 Cash and cash equivalents, January 1 104 12 4 Cash and cash equivalents, December 31 $ 14 $ 104 $ 12 SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES Accrued Merger-related transaction costs $ — $ 31 $ — Preferred dividends declared but not paid 36 — — Common dividends issued in stock 54 53 53 Common dividends declared but not paid 245 207 189 |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles | Upon adoption of ASU 2017-07, our Consolidated Statements of Operations were impacted as follows: IMPACT FROM ADOPTION OF ASU 2017-07 (Dollars in millions) Years ended December 31, 2017 2016 As previously reported Effect of adoption As adjusted As previously reported Effect of adoption As adjusted Sempra Energy: Operation and maintenance $ 3,117 $ (21 ) $ 3,096 $ 2,970 $ 6 $ 2,976 Other income, net 254 (21 ) 233 132 6 138 SDG&E: Operation and maintenance $ 1,020 $ 4 $ 1,024 $ 1,048 $ 14 $ 1,062 Total operating expenses 3,763 4 3,767 3,263 14 3,277 Operating income 713 (4 ) 709 990 (14 ) 976 Other income, net 66 4 70 50 14 64 SoCalGas: Operation and maintenance $ 1,479 $ (5 ) $ 1,474 $ 1,385 $ 6 $ 1,391 Total operating expenses 3,163 (5 ) 3,158 2,914 6 2,920 Operating income 622 5 627 557 (6 ) 551 Other income, net 36 (5 ) 31 32 6 38 EXPECTED IMPACT FROM ADOPTION OF THE LEASE STANDARD (Dollars in millions) Sempra Energy Consolidated SDG&E SoCalGas Other current assets $ (68 ) $ — $ — Property, plant and equipment, net (147 ) — — Right-of-use assets – operating leases 623 130 116 Deferred income taxes (3 ) — — Other current liabilities 81 20 23 Long-term debt (138 ) — — Deferred credits and other 445 110 93 Retained earnings 17 — — EXPECTED IMPACT FROM ADOPTION OF THE LEASE STANDARD (Dollars in millions) Right-of-use assets – operating leases $ 191 Deferred income taxes (3 ) Property, plant and equipment, net (1) (147 ) Other current liabilities 3 Long-term debt (138 ) Other long-term liabilities 159 Retained earnings (2) 17 (1) Included in Other Assets. (2) Included in Shareholders’ Equity. IMPACT FROM ADOPTION OF ASU 2017-07 (Dollars in millions) Years ended December 31, 2017 2016 As previously reported Effect of adoption As adjusted As previously reported Effect of adoption As adjusted Sempra Energy: Operation and maintenance $ (87 ) $ 7 $ (80 ) $ (81 ) $ 5 $ (76 ) Other income (expense), net 107 (7 ) 100 (2 ) (5 ) (7 ) |
Schedule Of Long-term Debt | The following tables show the detail and maturities of long-term debt outstanding: LONG-TERM DEBT (Dollars in millions) December 31, 2018 2017 SDG&E First mortgage bonds (collateralized by plant assets): 1.65% July 1, 2018 (1) $ — $ 161 3% August 15, 2021 350 350 1.914% payable 2015 through February 2022 125 161 3.6% September 1, 2023 450 450 2.5% May 15, 2026 500 500 6% June 1, 2026 250 250 5.875% January and February 2034 (1) 176 176 5.35% May 15, 2035 250 250 6.125% September 15, 2037 250 250 4% May 1, 2039 (1) 75 75 6% June 1, 2039 300 300 5.35% May 15, 2040 250 250 4.5% August 15, 2040 500 500 3.95% November 15, 2041 250 250 4.3% April 1, 2042 250 250 3.75% June 1, 2047 400 400 4.15% May 15, 2048 400 — 4,776 4,573 Other long-term debt: OMEC LLC variable-rate loan (5.2925% after floating-to-fixed rate swaps effective 2007), payable 2013 through April 2019 (collateralized by OMEC plant assets) — 295 OMEC LLC variable-rate loan (4.7896% at December 31, 2018 except for $142 at 5.2925% after floating-to-fixed rate swaps through April 1, 2019), payable 2019 through 2024 (collateralized by OMEC plant assets) 220 — Capital lease obligations: Purchased-power contracts 1,270 731 Other 2 1 1,492 1,027 6,268 5,600 Current portion of long-term debt (81 ) (220 ) Unamortized discount on long-term debt (12 ) (11 ) Unamortized debt issuance costs (37 ) (34 ) Total SDG&E 6,138 5,335 SoCalGas First mortgage bonds (collateralized by plant assets): 5.45% April 15, 2018 — 250 1.55% June 15, 2018 — 250 3.15% September 15, 2024 500 500 3.2% June 15, 2025 350 350 2.6% June 15, 2026 500 500 5.75% November 15, 2035 250 250 5.125% November 15, 2040 300 300 3.75% September 15, 2042 350 350 4.45% March 15, 2044 250 250 4.125% June 1, 2048 400 — 4.3% January 15, 2049 550 — 3,450 3,000 Other long-term debt (uncollateralized): 1.875% Notes payable 2016 through May 2026 (1) 4 4 5.67% Notes January 18, 2028 5 5 Capital lease obligations 3 1 12 10 3,462 3,010 Current portion of long-term debt (3 ) (501 ) Unamortized discount on long-term debt (6 ) (7 ) Unamortized debt issuance costs (26 ) (17 ) Total SoCalGas 3,427 2,485 LONG-TERM DEBT (CONTINUED) (Dollars in millions) December 31, 2018 2017 Sempra Energy Other long-term debt (uncollateralized): 6.15% Notes June 15, 2018 — 500 9.8% Notes February 15, 2019 500 500 Notes at variable rates (2.69% at December 31, 2018) July 15, 2019 500 — 1.625% Notes October 7, 2019 500 500 2.4% Notes February 1, 2020 500 — 2.4% Notes March 15, 2020 500 500 2.85% Notes November 15, 2020 400 400 Notes at variable rates (2.94% at December 31, 2018) January 15, 2021 (1) 700 — Notes at variable rates (3.24% at December 31, 2018) March 15, 2021 850 850 2.875% Notes October 1, 2022 500 500 2.9% Notes February 1, 2023 500 — 4.05% Notes December 1, 2023 500 500 3.55% Notes June 15, 2024 500 500 3.75% Notes November 15, 2025 350 350 3.25% Notes June 15, 2027 750 750 3.4% Notes February 1, 2028 1,000 — 3.8% Notes February 1, 2038 1,000 — 6% Notes October 15, 2039 750 750 4% Notes February 1, 2048 800 — Fair value adjustments for interest rate swaps, net — (1 ) Build-to-suit lease (2) 138 138 Sempra South American Utilities Other long-term debt (uncollateralized): Chilquinta Energía – 4.25% Series B Bonds October 30, 2030 186 205 Luz del Sur Bank loans 4.3% to 5.7% payable 2017 through December 2021 105 53 Corporate bonds at 4.75% to 8.75% payable 2014 through September 2029 432 415 Other bonds at 3.77% to 4.61% payable 2020 through May 2022 4 6 Capital lease obligations 6 6 Sempra Mexico Other long-term debt (uncollateralized unless otherwise noted): Notes February 8, 2018 at variable rates (2.66% after floating-to-fixed rate cross-currency swaps effective 2013) — 66 6.3% Notes February 2, 2023 (4.12% after cross-currency swap) 198 198 Notes at variable rates (4.88% after floating-to-fixed rate swaps effective 2014), payable 2016 through December 2026, collateralized by plant assets 275 314 3.75% Notes January 14, 2028 300 300 Bank loans including $246 at a weighted-average fixed rate of 6.67%, $164 at variable rates (weighted-average rate of 6.33% after floating-to-fixed rate swaps effective 2014) and $37 at variable rates (5.82% at December 31, 2018), payable 2016 through March 2032, collateralized by plant assets 447 468 4.875% Notes January 14, 2048 540 540 Loan at variables rates (6.07% at December 31, 2018) July 31, 2028 4 — Sempra Renewables Other long-term debt (collateralized by project assets): Loan at variable rates (3.325% at December 31, 2017) payable 2012 through December 2028 except for $59 at 3.668% after floating-to-fixed rate swaps effective June 2012 (1) — 77 Sempra LNG & Midstream Other long-term debt (uncollateralized): Notes at 2.87% to 3.51% October 1, 2026 (1) 21 20 13,756 9,405 Current portion of long-term debt (1,589 ) (706 ) Unamortized discount on long-term debt (38 ) (13 ) Unamortized premium on long-term debt 4 4 Unamortized debt issuance costs (87 ) (65 ) Total other Sempra Energy 12,046 8,625 Total Sempra Energy Consolidated $ 21,611 $ 16,445 (1) Callable long-term debt not subject to make-whole provisions. (2) On January 12, 2018, we issued the following debt securities and received net proceeds of $4.9 billion (after deducting discounts and debt issuance costs of $68 million): NOTES ISSUED IN LONG-TERM DEBT OFFERING (Dollars in millions) Title of each class of securities Aggregate principal amount Maturity Interest payments Notes at variable rates (1) due 2019 $ 500 July 15, 2019 Quarterly Notes at variable rates (2) due 2021 700 January 15, 2021 Quarterly 2.4% Notes due 2020 500 February 1, 2020 Semi-annually 2.9% Notes due 2023 500 February 1, 2023 Semi-annually 3.4% Notes due 2028 1,000 February 1, 2028 Semi-annually 3.8% Notes due 2038 1,000 February 1, 2038 Semi-annually 4% Notes due 2048 800 February 1, 2048 Semi-annually (1) Bears interest at a rate per annum equal to the 3-month LIBOR rate, plus 25 bps . (2) Bears interest at a rate per annum equal to the 3-month LIBOR rate, plus 50 bps LONG-TERM DEBT (Dollars in millions) December 31, 2018 2017 6.15% Notes June 15, 2018 $ — $ 500 9.8% Notes February 15, 2019 500 500 Notes at variable rates (2.69% at December 31, 2018) July 15, 2019 500 — 1.625% Notes October 7, 2019 500 500 2.4% Notes February 1, 2020 500 — 2.4% Notes March 15, 2020 500 500 2.85% Notes November 15, 2020 400 400 Notes at variable rates (2.94% at December 31, 2018) January 15, 2021 (1) 700 — Notes at variable rates (3.24% at December 31, 2018) March 15, 2021 850 850 2.875% Notes October 1, 2022 500 500 2.9% Notes February 1, 2023 500 — 4.05% Notes December 1, 2023 500 500 3.55% Notes June 15, 2024 500 500 3.75% Notes November 15, 2025 350 350 3.25% Notes June 15, 2027 750 750 3.4% Notes February 1, 2028 1,000 — 3.8% Notes February 1, 2038 1,000 — 6% Notes October 15, 2039 750 750 4% Notes February 1, 2048 800 — Fair value adjustments for interest rate swaps, net — (1 ) Build-to-suit lease 138 138 11,238 6,737 Current portion of long-term debt (1,498 ) (500 ) Unamortized discount on long-term debt (38 ) (13 ) Unamortized debt issuance costs (55 ) (26 ) Total long-term debt $ 9,647 $ 6,198 |
SIGNIFICANT ACCOUNTING POLICI_4
SIGNIFICANT ACCOUNTING POLICIES AND OTHER FINANCIAL DATA - PRINCIPLES OF CONSOLIDATION (Details) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2018USD ($)segment | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | |||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||||
Equity earnings, before income tax | $ (236) | $ 34 | $ 6 | ||
Income before income taxes and equity earnings of unconsolidated entities | 1,046 | 1,551 | [1] | 1,824 | [1] |
Equity earnings | $ 176 | 76 | [1] | 84 | [1] |
Segment Reporting, Disclosure of Other Information about Entity's Reportable Segments [Abstract] | |||||
Number of reportable segments | segment | 7 | ||||
As previously reported [Member] | |||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||||
Equity earnings, before income tax | 34 | 6 | |||
Income before income taxes and equity earnings of unconsolidated entities | 1,585 | 1,830 | |||
Equity earnings, net of income tax | $ 42 | $ 78 | |||
[1] | As adjusted for the retrospective adoption of ASU 2017-07, which we discuss in Note 2 , and a reclassification to conform to current year presentation, which we discuss in Note 1 |
SIGNIFICANT ACCOUNTING POLICI_5
SIGNIFICANT ACCOUNTING POLICIES AND OTHER FINANCIAL DATA - EFFECTS OF REGULATION (Details) | 12 Months Ended |
Dec. 31, 2018utility | |
Sempra South American Utilities [Member] | |
Schedule of Equity Method Investments [Line Items] | |
Number of electric distribution utilities | 2 |
Oncor Electric Delivery Company LLC [Member] | Sempra Texas Utility [Member] | |
Schedule of Equity Method Investments [Line Items] | |
Ownership percentage in equity method investee | 80.25% |
SIGNIFICANT ACCOUNTING POLICI_6
SIGNIFICANT ACCOUNTING POLICIES AND OTHER FINANCIAL DATA - CASH AND CASH EQUIVALENTS AND RESTRICTED CASH (Details) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Presentation Of Restricted Cash [Line Items] | ||||
Restricted cash | $ 56,000,000 | $ 76,000,000 | ||
Cash and cash equivalents | 190,000,000 | 288,000,000 | ||
Restricted cash, current | 35,000,000 | 62,000,000 | ||
Restricted cash, noncurrent | 21,000,000 | 14,000,000 | ||
Total cash, cash equivalents and restricted cash on the Consolidated Statements of Cash Flows | 246,000,000 | 364,000,000 | $ 425,000,000 | $ 450,000,000 |
SDG&E [Member] | ||||
Presentation Of Restricted Cash [Line Items] | ||||
Restricted cash | 29,000,000 | 17,000,000 | ||
Sempra Mexico [Member] | ||||
Presentation Of Restricted Cash [Line Items] | ||||
Restricted cash | 27,000,000 | 56,000,000 | ||
Sempra Renewables [Member] | ||||
Presentation Of Restricted Cash [Line Items] | ||||
Restricted cash | 3,000,000 | |||
South America Utilities [Member] | ||||
Presentation Of Restricted Cash [Line Items] | ||||
Restricted cash | 0 | 0 | ||
San Diego Gas and Electric Company [Member] | ||||
Presentation Of Restricted Cash [Line Items] | ||||
Cash and cash equivalents | 8,000,000 | 12,000,000 | ||
Restricted cash, current | 11,000,000 | 6,000,000 | ||
Restricted cash, noncurrent | 18,000,000 | 11,000,000 | ||
Total cash, cash equivalents and restricted cash on the Consolidated Statements of Cash Flows | $ 37,000,000 | $ 29,000,000 | $ 20,000,000 | $ 43,000,000 |
SIGNIFICANT ACCOUNTING POLICI_7
SIGNIFICANT ACCOUNTING POLICIES AND OTHER FINANCIAL DATA - COLLECTION ALLOWANCES (Details) - Allowance, Credit Loss [Member] - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Allowance balance at January 1 | $ 33 | $ 35 | $ 32 |
Provisions for uncollectible accounts | 14 | 16 | 23 |
Write-offs of uncollectible accounts | (17) | (18) | (20) |
Allowance balance at December 31 | 30 | 33 | 35 |
San Diego Gas and Electric Company [Member] | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Allowance balance at January 1 | 9 | 8 | 9 |
Provisions for uncollectible accounts | 9 | 8 | 6 |
Write-offs of uncollectible accounts | (7) | (7) | (7) |
Allowance balance at December 31 | 11 | 9 | 8 |
Southern California Gas Company [Member] | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Allowance balance at January 1 | 16 | 21 | 17 |
Provisions for uncollectible accounts | 1 | 4 | 14 |
Write-offs of uncollectible accounts | (7) | (9) | (10) |
Allowance balance at December 31 | $ 10 | $ 16 | $ 21 |
SIGNIFICANT ACCOUNTING POLICI_8
SIGNIFICANT ACCOUNTING POLICIES AND OTHER FINANCIAL DATA - INVENTORIES (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Inventory [Line Items] | ||
Natural gas | $ 95 | $ 109 |
LNG | 4 | 11 |
Materials and supplies | 197 | 187 |
Inventories | 296 | 307 |
SDG&E [Member] | ||
Inventory [Line Items] | ||
Natural gas | 0 | 4 |
LNG | 0 | 0 |
Materials and supplies | 102 | 101 |
Inventories | 102 | 105 |
SoCalGas [Member] | ||
Inventory [Line Items] | ||
Natural gas | 92 | 75 |
LNG | 0 | 0 |
Materials and supplies | 42 | 49 |
Inventories | 134 | 124 |
Sempra South American Utilities [Member] | ||
Inventory [Line Items] | ||
Natural gas | 0 | 0 |
LNG | 0 | 0 |
Materials and supplies | 38 | 30 |
Inventories | 38 | 30 |
Sempra Mexico [Member] | ||
Inventory [Line Items] | ||
Natural gas | 0 | 0 |
LNG | 4 | 7 |
Materials and supplies | 15 | 2 |
Inventories | 19 | 9 |
Sempra Renewables [Member] | ||
Inventory [Line Items] | ||
Natural gas | 0 | 0 |
LNG | 0 | 0 |
Materials and supplies | 0 | 5 |
Inventories | 0 | 5 |
Sempra LNG & Midstream [Member] | ||
Inventory [Line Items] | ||
Natural gas | 3 | 30 |
LNG | 0 | 4 |
Materials and supplies | 0 | 0 |
Inventories | $ 3 | $ 34 |
SIGNIFICANT ACCOUNTING POLICI_9
SIGNIFICANT ACCOUNTING POLICIES AND OTHER FINANCIAL DATA - PROPERTY, PLANT, AND EQUIPMENT (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment | $ 49,315 | $ 48,108 | |
Depreciation | 1,528 | 1,422 | $ 1,236 |
Accumulated depreciation | 12,519 | 11,605 | |
San Diego Gas and Electric Company [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment | 21,662 | 19,787 | |
Depreciation | 686 | 621 | 583 |
Accumulated depreciation | 5,352 | 4,949 | |
Southern California Gas Company [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment | 18,138 | 16,772 | |
Depreciation | 553 | 514 | $ 474 |
Accumulated depreciation | 5,699 | 5,366 | |
Electricity [Member] | San Diego Gas and Electric Company [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Accumulated depreciation | 4,558 | 4,193 | |
Accumulated depreciation of capital leased assets | 48 | 47 | |
Natural gas operations [Member] | San Diego Gas and Electric Company [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment | $ 2,382 | $ 2,186 | |
Depreciation rates (percentage) | 2.44% | 2.40% | 2.40% |
Accumulated depreciation | $ 794 | $ 756 | |
Natural gas operations [Member] | Southern California Gas Company [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment | $ 17,268 | $ 15,759 | |
Depreciation rates (percentage) | 3.60% | 3.63% | 3.64% |
Capital leased assets | $ 40 | $ 34 | |
Accumulated depreciation | 5,685 | 5,352 | |
Accumulated depreciation of capital leased assets | 37 | 33 | |
Electric distribution [Member] | San Diego Gas and Electric Company [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment | $ 7,462 | $ 6,975 | |
Depreciation rates (percentage) | 3.91% | 3.92% | 3.86% |
Electric transmission [Member] | San Diego Gas and Electric Company [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment | $ 6,222 | $ 5,626 | |
Depreciation rates (percentage) | 2.76% | 2.71% | 2.66% |
Electric generation [Member] | San Diego Gas and Electric Company [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment | $ 2,967 | $ 2,435 | |
Depreciation rates (percentage) | 4.12% | 4.05% | 4.00% |
Capital leased assets | $ 1,300 | $ 757 | |
Other electric [Member] | San Diego Gas and Electric Company [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment | $ 1,408 | $ 1,114 | |
Depreciation rates (percentage) | 6.43% | 5.54% | 5.66% |
Capital leased assets | $ 13 | $ 22 | |
Other non-utility [Member] | Southern California Gas Company [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment | $ 34 | $ 32 | |
Depreciation rates (percentage) | 5.39% | 5.28% | 6.55% |
Accumulated depreciation | $ 14 | $ 14 | |
Other non-utility [Member] | Other Operating Units and Parent [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Accumulated depreciation | 1,125 | 972 | |
Construction work in progress [Member] | San Diego Gas and Electric Company [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment | 1,221 | 1,451 | |
Construction work in progress [Member] | Southern California Gas Company [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment | 836 | 981 | |
Land and land rights [Member] | Other Operating Units and Parent [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment | $ 429 | 416 | |
Land and land rights [Member] | Minimum [Member] | Other Operating Units and Parent [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Estimated useful life | 16 years | ||
Land and land rights [Member] | Maximum [Member] | Other Operating Units and Parent [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Estimated useful life | 50 years | ||
Land and land rights [Member] | Weighted Average [Member] | Other Operating Units and Parent [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Estimated useful life | 30 years | ||
Utility electric distribution operations [Member] | Other Operating Units and Parent [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment | $ 1,977 | 1,751 | |
Accumulated depreciation | $ 343 | 318 | |
Utility electric distribution operations [Member] | Minimum [Member] | Other Operating Units and Parent [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Estimated useful life | 10 years | ||
Utility electric distribution operations [Member] | Maximum [Member] | Other Operating Units and Parent [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Estimated useful life | 45 years | ||
Utility electric distribution operations [Member] | Weighted Average [Member] | Other Operating Units and Parent [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Estimated useful life | 41 years | ||
Generating plants [Member] | Other Operating Units and Parent [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment | $ 1,051 | 2,242 | |
Generating plants [Member] | Minimum [Member] | Other Operating Units and Parent [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Estimated useful life | 5 years | ||
Generating plants [Member] | Maximum [Member] | Other Operating Units and Parent [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Estimated useful life | 100 years | ||
Generating plants [Member] | Weighted Average [Member] | Other Operating Units and Parent [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Estimated useful life | 30 years | ||
LNG terminals [Member] | Other Operating Units and Parent [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment | $ 1,134 | 1,133 | |
LNG terminals [Member] | Minimum [Member] | Other Operating Units and Parent [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Estimated useful life | 43 years | ||
LNG terminals [Member] | Maximum [Member] | Other Operating Units and Parent [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Estimated useful life | 43 years | ||
LNG terminals [Member] | Weighted Average [Member] | Other Operating Units and Parent [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Estimated useful life | 43 years | ||
Pipelines and storage [Member] | Other Operating Units and Parent [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment | $ 3,413 | 4,408 | |
Pipelines and storage [Member] | Minimum [Member] | Other Operating Units and Parent [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Estimated useful life | 5 years | ||
Pipelines and storage [Member] | Maximum [Member] | Other Operating Units and Parent [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Estimated useful life | 50 years | ||
Pipelines and storage [Member] | Weighted Average [Member] | Other Operating Units and Parent [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Estimated useful life | 41 years | ||
Other [Member] | Other Operating Units and Parent [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment | $ 205 | 269 | |
Other [Member] | Minimum [Member] | Other Operating Units and Parent [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Estimated useful life | 1 year | ||
Other [Member] | Maximum [Member] | Other Operating Units and Parent [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Estimated useful life | 50 years | ||
Other [Member] | Weighted Average [Member] | Other Operating Units and Parent [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Estimated useful life | 7 years | ||
Construction work in progress [Member] | Other Operating Units and Parent [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment | $ 684 | 691 | |
Other [Member] | Other Operating Units and Parent [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment | 622 | 639 | |
Capital leased assets | 136 | 136 | |
Leasehold Improvements, Gross | 24 | 24 | |
Accumulated depreciation of capital leased assets | $ 10 | 7 | |
Other [Member] | Minimum [Member] | Other Operating Units and Parent [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Estimated useful life | 3 years | ||
Other [Member] | Maximum [Member] | Other Operating Units and Parent [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Estimated useful life | 80 years | ||
Other [Member] | Weighted Average [Member] | Other Operating Units and Parent [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Estimated useful life | 31 years | ||
Leasehold Improvements [Member] | Other Operating Units and Parent [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Accumulated depreciation | $ 3 | 2 | |
Plant, pipeline and other distribution assets of ecogas [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Accumulated depreciation | 43 | 39 | |
Plant, pipeline and other distribution assets of ecogas [Member] | Other Operating Units and Parent [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment | 154 | 145 | |
Total Other Operating Units And Parent [Member] | Other Operating Units and Parent [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment | 9,515 | 11,549 | |
Accumulated depreciation | 1,468 | $ 1,290 | |
Southwest Powerlink (SWPL) transmission line [Member] | Electric transmission [Member] | San Diego Gas and Electric Company [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment | $ 457 | ||
Ownership interest | 92.00% | ||
Accumulated depreciation | $ 252 | ||
Southwest Powerlink (SWPL) transmission line [Member] | Construction work in progress [Member] | San Diego Gas and Electric Company [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment | $ 26 |
SIGNIFICANT ACCOUNTING POLIC_10
SIGNIFICANT ACCOUNTING POLICIES AND OTHER FINANCIAL DATA - CAPITALIZED FINANCING COSTS (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Capitalized Financing Costs Disclosure [Line Items] | |||
Total capitalized financing costs | $ 202 | $ 256 | $ 236 |
San Diego Gas and Electric Company [Member] | |||
Capitalized Financing Costs Disclosure [Line Items] | |||
Total capitalized financing costs | 82 | 85 | 62 |
Southern California Gas Company [Member] | |||
Capitalized Financing Costs Disclosure [Line Items] | |||
Total capitalized financing costs | $ 48 | $ 60 | $ 55 |
SIGNIFICANT ACCOUNTING POLIC_11
SIGNIFICANT ACCOUNTING POLICIES AND OTHER FINANCIAL DATA - GOODWILL (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Goodwill [Roll Forward] | ||
Goodwill, beginning balance | $ 2,397 | $ 2,364 |
Acquisition of business – measurement period adjustment | (13) | |
Acquisition of business | 38 | |
Foreign currency translation | (62) | 46 |
Goodwill, ending balance | 2,373 | 2,397 |
Sempra South American Utilities [Member] | ||
Goodwill [Roll Forward] | ||
Goodwill, beginning balance | 795 | 749 |
Acquisition of business – measurement period adjustment | 0 | |
Acquisition of business | 38 | |
Foreign currency translation | (62) | 46 |
Goodwill, ending balance | 771 | 795 |
Sempra Mexico [Member] | ||
Goodwill [Roll Forward] | ||
Goodwill, beginning balance | 1,602 | 1,615 |
Acquisition of business – measurement period adjustment | (13) | |
Acquisition of business | 0 | |
Foreign currency translation | 0 | 0 |
Goodwill, ending balance | $ 1,602 | $ 1,602 |
SIGNIFICANT ACCOUNTING POLIC_12
SIGNIFICANT ACCOUNTING POLICIES AND OTHER FINANCIAL DATA - OTHER INTANGIBLE ASSETS (Details) - USD ($) | 1 Months Ended | 12 Months Ended | |||
Dec. 31, 2018 | Jun. 30, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Finite-Lived Intangible Assets [Line Items] | |||||
Intangible Assets, Gross (Excluding Goodwill) | $ 298,000,000 | $ 298,000,000 | $ 698,000,000 | ||
Accumulated amortization | (26,000,000) | (26,000,000) | (102,000,000) | ||
Other intangible assets | 272,000,000 | 272,000,000 | 596,000,000 | ||
Intangible assets amortization expense | 16,000,000 | 18,000,000 | $ 11,000,000 | ||
Future intangible asset amortization expense per year | 12,000,000 | ||||
Development rights [Member] | |||||
Finite-Lived Intangible Assets [Line Items] | |||||
Finite-lived intangible assets, Gross | 0 | 0 | 322,000,000 | ||
Accumulated amortization | 0 | $ 0 | (60,000,000) | ||
Amortization period | 50 years | ||||
Renewable energy and consumption permit [Member] | |||||
Finite-Lived Intangible Assets [Line Items] | |||||
Finite-lived intangible assets, Gross | 154,000,000 | $ 154,000,000 | 154,000,000 | ||
Accumulated amortization | (16,000,000) | $ (16,000,000) | (8,000,000) | ||
Amortization period | 19 years | ||||
Storage rights [Member] | |||||
Finite-Lived Intangible Assets [Line Items] | |||||
Finite-lived intangible assets, Gross | 0 | $ 0 | 138,000,000 | ||
Accumulated amortization | 0 | $ 0 | (28,000,000) | ||
Amortization period | 46 years | ||||
O&M agreement [Member] | |||||
Finite-Lived Intangible Assets [Line Items] | |||||
Finite-lived intangible assets, Gross | 66,000,000 | $ 66,000,000 | 66,000,000 | ||
Accumulated amortization | (3,000,000) | $ (3,000,000) | 0 | ||
Amortization period | 23 years | ||||
Other [Member] | |||||
Finite-Lived Intangible Assets [Line Items] | |||||
Finite-lived intangible assets, Gross | 28,000,000 | $ 28,000,000 | 18,000,000 | ||
Accumulated amortization | (7,000,000) | $ (7,000,000) | (6,000,000) | ||
Other [Member] | Minimum [Member] | |||||
Finite-Lived Intangible Assets [Line Items] | |||||
Amortization period | 10 years | ||||
Sempra LNG & Midstream [Member] | |||||
Finite-Lived Intangible Assets [Line Items] | |||||
Impairment of Intangible Assets, Finite-lived | $ 369,000,000 | ||||
Disposal Group Held-for-sale [Member] | |||||
Finite-Lived Intangible Assets [Line Items] | |||||
Asset impairment charges | $ 1,500,000,000 | ||||
Disposal Group Held-for-sale [Member] | Sempra LNG & Midstream [Member] | |||||
Finite-Lived Intangible Assets [Line Items] | |||||
Asset impairment charges | (183,000,000) | $ 1,300,000,000 | 1,100,000,000 | ||
Concession Permits [Member] | |||||
Finite-Lived Intangible Assets [Line Items] | |||||
Indefinite-lived Intangible Assets (Excluding Goodwill) | $ 50,000,000 | $ 50,000,000 | $ 0 |
SIGNIFICANT ACCOUNTING POLIC_13
SIGNIFICANT ACCOUNTING POLICIES AND OTHER FINANCIAL DATA - VARIABLE INTEREST ENTITIES (Details) $ in Millions | Mar. 09, 2018 | Dec. 31, 2018USD ($) | Sep. 30, 2018USD ($) | Jun. 30, 2018USD ($) | Mar. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Sep. 30, 2017USD ($) | Jun. 30, 2017USD ($) | Mar. 31, 2017USD ($) | Dec. 31, 2018USD ($)MW | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | ||
Variable Interest Entity [Line Items] | ||||||||||||||
Operation and maintenance | $ 3,309 | $ 3,096 | [1] | $ 2,976 | [1] | |||||||||
Depreciation and amortization | 1,549 | 1,490 | [1] | 1,312 | [1] | |||||||||
ASSETS | ||||||||||||||
Cash and cash equivalents | $ 190 | $ 288 | 190 | 288 | ||||||||||
Restricted cash | 35 | 62 | 35 | 62 | ||||||||||
Inventories | 296 | 307 | 296 | 307 | ||||||||||
Other | 257 | 202 | 257 | 202 | ||||||||||
Total current assets | 3,645 | 3,341 | 3,645 | 3,341 | ||||||||||
Sundry | 974 | 792 | 974 | 792 | ||||||||||
Restricted cash | 21 | 14 | 21 | 14 | ||||||||||
Property, plant and equipment, net | 36,796 | 36,503 | 36,796 | 36,503 | ||||||||||
Total assets | 60,638 | 50,454 | 60,638 | 50,454 | 47,786 | |||||||||
Liabilities [Abstract] | ||||||||||||||
Current portion of long-term debt | 1,673 | 1,427 | 1,673 | 1,427 | ||||||||||
Other | 970 | 816 | 970 | 816 | ||||||||||
Total current liabilities | 7,523 | 6,635 | 7,523 | 6,635 | ||||||||||
Asset retirement obligations | 2,787 | 2,732 | 2,787 | 2,732 | ||||||||||
Deferred income taxes | 2,571 | 2,767 | 2,571 | 2,767 | ||||||||||
Long-term debt | 21,611 | 16,445 | 21,611 | 16,445 | ||||||||||
Equity [Abstract] | ||||||||||||||
Total liabilities and equity | 60,638 | 50,454 | 60,638 | 50,454 | ||||||||||
Net assets less other noncontrolling interests | 17,138 | 12,670 | 17,138 | 12,670 | ||||||||||
Operating Expenses [Abstract] | ||||||||||||||
Energy-related businesses | 1,641 | 1,431 | [1] | 922 | [1] | |||||||||
Income before income taxes | 1,046 | 1,551 | [1] | 1,824 | [1] | |||||||||
Other income, net | 72 | 233 | [1] | 138 | [1] | |||||||||
Interest expense | (925) | (659) | [1] | (553) | [1] | |||||||||
Income tax expense | (96) | (1,276) | [1] | (389) | [1] | |||||||||
Net income | 964 | $ 334 | $ (530) | $ 358 | (451) | $ 102 | $ 248 | $ 452 | 1,126 | 351 | [1] | 1,519 | [1] | |
(Earnings) losses attributable to noncontrolling interest | (76) | (94) | [1] | (148) | [1] | |||||||||
Earnings attributable to common shares | 864 | 274 | (561) | 347 | (501) | 57 | 259 | 441 | ||||||
Equity method investment | 9,652 | 0 | 9,652 | 0 | ||||||||||
Otay Mesa VIE [Member] | ||||||||||||||
Liabilities [Abstract] | ||||||||||||||
Current portion of long-term debt | 28 | 10 | 28 | 10 | ||||||||||
San Diego Gas and Electric Company [Member] | ||||||||||||||
Variable Interest Entity [Line Items] | ||||||||||||||
Operation and maintenance | 1,058 | 1,024 | [1] | 1,062 | [1] | |||||||||
Depreciation and amortization | 688 | 670 | [1] | 646 | [1] | |||||||||
Investments [Abstract] | ||||||||||||||
Gross long-term debt | 4,776 | 4,573 | 4,776 | 4,573 | ||||||||||
ASSETS | ||||||||||||||
Cash and cash equivalents | 8 | 12 | 8 | 12 | ||||||||||
Restricted cash | 11 | 6 | 11 | 6 | ||||||||||
Inventories | 102 | 105 | 102 | 105 | ||||||||||
Other | 5 | 4 | 5 | 4 | ||||||||||
Total current assets | 894 | 1,100 | 894 | 1,100 | ||||||||||
Sundry | 420 | 328 | 420 | 328 | ||||||||||
Restricted cash | 18 | 11 | 18 | 11 | ||||||||||
Property, plant and equipment, net | 16,310 | 14,838 | 16,310 | 14,838 | ||||||||||
Total assets | 19,225 | 17,844 | 19,225 | 17,844 | ||||||||||
Liabilities [Abstract] | ||||||||||||||
Current portion of long-term debt | 81 | 220 | 81 | 220 | ||||||||||
Other | 141 | 147 | 141 | 147 | ||||||||||
Total current liabilities | 1,428 | 1,622 | 1,428 | 1,622 | ||||||||||
Asset retirement obligations | 778 | 762 | 778 | 762 | ||||||||||
Deferred income taxes | 1,616 | 1,530 | 1,616 | 1,530 | ||||||||||
Long-term debt | 6,138 | 5,335 | 6,138 | 5,335 | ||||||||||
Equity [Abstract] | ||||||||||||||
Total liabilities and equity | 19,225 | 17,844 | 19,225 | 17,844 | ||||||||||
Net assets less other noncontrolling interests | 6,015 | 5,598 | 6,015 | 5,598 | ||||||||||
Operating Expenses [Abstract] | ||||||||||||||
Income before income taxes | 849 | 576 | [1] | 845 | [1] | |||||||||
Operating income | 247 | 300 | 215 | 248 | 256 | (58) | 237 | 274 | 1,010 | 709 | [1] | 976 | [1] | |
Other income, net | 56 | 70 | [1] | 64 | [1] | |||||||||
Interest expense | (221) | (203) | [1] | (195) | [1] | |||||||||
Income tax expense | (173) | (155) | [1] | (280) | [1] | |||||||||
Net income | 145 | 216 | 146 | 169 | 130 | (19) | 153 | 157 | 676 | 421 | [1] | 565 | [1] | |
(Earnings) losses attributable to noncontrolling interest | 3 | $ (11) | $ 0 | $ 1 | 1 | $ (9) | $ (4) | $ (2) | (7) | (14) | [1] | 5 | [1] | |
San Diego Gas and Electric Company [Member] | Otay Mesa VIE [Member] | ||||||||||||||
Variable Interest Entity [Line Items] | ||||||||||||||
Utility Operating Revenue, Fuel | (75) | (79) | (79) | |||||||||||
Operation and maintenance | 17 | 17 | 29 | |||||||||||
Depreciation and amortization | $ 30 | 28 | 35 | |||||||||||
Investments [Abstract] | ||||||||||||||
Generating capacity (in mw) | MW | 605 | |||||||||||||
Put option | 280 | $ 280 | ||||||||||||
Equity of Variable interest entity | 100 | 28 | 100 | 28 | ||||||||||
ASSETS | ||||||||||||||
Cash and cash equivalents | 0 | 4 | 0 | 4 | ||||||||||
Restricted cash | 11 | 6 | 11 | 6 | ||||||||||
Inventories | 4 | 4 | 4 | 4 | ||||||||||
Other | 2 | 1 | 2 | 1 | ||||||||||
Total current assets | 17 | 15 | 17 | 15 | ||||||||||
Restricted cash | 18 | 11 | 18 | 11 | ||||||||||
Property, plant and equipment, net | 295 | 321 | 295 | 321 | ||||||||||
Total assets | 330 | 347 | 330 | 347 | ||||||||||
Liabilities [Abstract] | ||||||||||||||
Current portion of long-term debt | 28 | 10 | 28 | 10 | ||||||||||
Fixed-price contracts and other derivatives | 1 | 10 | 1 | 10 | ||||||||||
Other | 3 | 5 | 3 | 5 | ||||||||||
Total current liabilities | 32 | 25 | 32 | 25 | ||||||||||
Long-term debt | 190 | 284 | 190 | 284 | ||||||||||
Fixed-price contracts and other derivatives | 0 | 3 | 0 | 3 | ||||||||||
Deferred credits and other | 8 | 7 | 8 | 7 | ||||||||||
Equity [Abstract] | ||||||||||||||
Other noncontrolling interests | 100 | 28 | 100 | 28 | ||||||||||
Total liabilities and equity | 330 | 347 | 330 | 347 | ||||||||||
Operating Expenses [Abstract] | ||||||||||||||
Total operating expenses | (28) | (34) | (15) | |||||||||||
Operating income | 28 | 34 | 15 | |||||||||||
Other income, net | 2 | 2 | 0 | |||||||||||
Interest expense | (23) | (22) | (20) | |||||||||||
Net income | 7 | 14 | (5) | |||||||||||
(Earnings) losses attributable to noncontrolling interest | (7) | (14) | 5 | |||||||||||
Earnings attributable to common shares | 0 | 0 | 0 | |||||||||||
Sempra Renewables [Member] | ||||||||||||||
ASSETS | ||||||||||||||
Inventories | 0 | 5 | 0 | 5 | ||||||||||
Sempra Renewables [Member] | Noncontrolling Tax Equity Investors [Member] | ||||||||||||||
Variable Interest Entity [Line Items] | ||||||||||||||
Operation and maintenance | 16 | 9 | 1 | |||||||||||
Depreciation and amortization | 47 | 32 | 0 | |||||||||||
ASSETS | ||||||||||||||
Cash and cash equivalents | 7 | 23 | 7 | 23 | ||||||||||
Accounts receivable – trade, net | 2 | 5 | 2 | 5 | ||||||||||
Inventories | 0 | 1 | 0 | 1 | ||||||||||
Other | 1 | 1 | 1 | 1 | ||||||||||
Total current assets | 10 | 30 | 10 | 30 | ||||||||||
Sundry | 0 | 2 | 0 | 2 | ||||||||||
Property, plant and equipment, net | 286 | 1,412 | 286 | 1,412 | ||||||||||
Total assets | 296 | 1,444 | 296 | 1,444 | ||||||||||
Liabilities [Abstract] | ||||||||||||||
Accounts payable | 2 | 42 | 2 | 42 | ||||||||||
Other | 1 | 1 | 1 | 1 | ||||||||||
Total current liabilities | 3 | 43 | 3 | 43 | ||||||||||
Asset retirement obligations | 6 | 40 | 6 | 40 | ||||||||||
Deferred income taxes | 7 | 10 | 7 | 10 | ||||||||||
Deferred credits and other | 0 | 1 | 0 | 1 | ||||||||||
Total liabilities | 16 | 94 | 16 | 94 | ||||||||||
Equity [Abstract] | ||||||||||||||
Other noncontrolling interests | 158 | 631 | 158 | 631 | ||||||||||
Net assets less other noncontrolling interests | 122 | 719 | 122 | 719 | ||||||||||
Operating Expenses [Abstract] | ||||||||||||||
Energy-related businesses | 92 | 61 | 2 | |||||||||||
Income before income taxes | 29 | 20 | 1 | |||||||||||
Income tax expense | (18) | (4) | 0 | |||||||||||
Net income | 11 | 16 | 1 | |||||||||||
(Earnings) losses attributable to noncontrolling interest | 58 | 23 | 4 | |||||||||||
Earnings attributable to common shares | 69 | 39 | $ 5 | |||||||||||
Disposal of PP&E,net and other assets and liabilities | 1,100 | 1,100 | ||||||||||||
Sempra LNG & Midstream [Member] | ||||||||||||||
ASSETS | ||||||||||||||
Inventories | 3 | 34 | 3 | 34 | ||||||||||
Sempra LNG & Midstream [Member] | Cameron LNG Holdings [Member] | ||||||||||||||
Operating Expenses [Abstract] | ||||||||||||||
Equity method investment | 1,271 | 997 | 1,271 | 997 | ||||||||||
Otay Mesa Energy Center Loan Payable 2019 through 2024 [Member] | San Diego Gas and Electric Company [Member] | Otay Mesa VIE [Member] | ||||||||||||||
Investments [Abstract] | ||||||||||||||
Gross long-term debt | 220 | $ 0 | 220 | $ 0 | ||||||||||
Oncor Holdings Electric Delivery Company LLC [Member] | ||||||||||||||
Operating Expenses [Abstract] | ||||||||||||||
Acquired percentage interest | 80.25% | |||||||||||||
Oncor Holdings Electric Delivery Company LLC [Member] | Sempra Texas Utility [Member] | ||||||||||||||
Operating Expenses [Abstract] | ||||||||||||||
Commitment to invest | 1,025 | 1,025 | ||||||||||||
Equity method investment | $ 9,652 | 9,652 | ||||||||||||
Management agreement termination fee | $ 40 | |||||||||||||
Oncor Electric Delivery Company LLC [Member] | ||||||||||||||
Operating Expenses [Abstract] | ||||||||||||||
Acquired percentage interest | 80.25% | |||||||||||||
Sempra Texas Holdings Corp [Member] | Oncor Holdings Electric Delivery Company LLC [Member] | Sempra Texas Intermediate Holding Company LLC [Member] | ||||||||||||||
Operating Expenses [Abstract] | ||||||||||||||
Ownership percentage in consolidated entity | 100.00% | |||||||||||||
Sempra Texas Holdings Corp [Member] | Oncor Electric Delivery Company LLC [Member] | ||||||||||||||
Operating Expenses [Abstract] | ||||||||||||||
Acquired percentage interest | 80.03% | |||||||||||||
[1] | As adjusted for the retrospective adoption of ASU 2017-07, which we discuss in Note 2 , and a reclassification to conform to current year presentation, which we discuss in Note 1 |
SIGNIFICANT ACCOUNTING POLIC_14
SIGNIFICANT ACCOUNTING POLICIES AND OTHER FINANCIAL DATA - ASSET RETIREMENT OBLIGATIONS (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Beginning Balance | $ 2,877 | $ 2,553 |
Accretion expense | 121 | 109 |
Liabilities incurred | 7 | 34 |
Deconsolidation and reclassification | (61) | 0 |
Payments | (42) | (63) |
Revisions | 71 | 244 |
Ending Balance | 2,973 | 2,877 |
San Diego Gas and Electric Company [Member] | ||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Beginning Balance | 839 | 830 |
Accretion expense | 39 | 39 |
Liabilities incurred | 0 | 17 |
Deconsolidation and reclassification | 0 | 0 |
Payments | (39) | (61) |
Revisions | 35 | 14 |
Ending Balance | 874 | 839 |
Southern California Gas Company [Member] | ||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Beginning Balance | 1,953 | 1,659 |
Accretion expense | 78 | 66 |
Liabilities incurred | 0 | 0 |
Deconsolidation and reclassification | 0 | 0 |
Payments | (3) | (2) |
Revisions | 35 | 230 |
Ending Balance | 2,063 | $ 1,953 |
Termoelectrica de Mexicali [Member] | ||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Reclassified from held for sale | 5 | |
Sempra Renewables [Member] | ||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Reclassified to held for sale | 6 | |
Sempra LNG & Midstream [Member] | ||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Reclassified to held for sale | 8 | |
Sempra Renewables [Member] | Disposal Group Disposed of by Sale [Member] | ||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Deconsolidation and reclassification | $ 52 |
SIGNIFICANT ACCOUNTING POLIC_15
SIGNIFICANT ACCOUNTING POLICIES AND OTHER FINANCIAL DATA - CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
AOCI, beginning balance | $ 12,670 | |||
Amounts reclassified from AOCI(2) | 21 | $ 19 | $ 18 | |
Cumulative-effect adjustment from change in accounting priniciple | (1) | $ 107 | ||
AOCI, ending balance | 17,138 | 12,670 | ||
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | ||||
Sale of noncontrolling interests, net of offering costs | 90 | 196 | 1,701 | |
San Diego Gas and Electric Company [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
AOCI, beginning balance | 5,598 | |||
Amounts reclassified from AOCI(2) | 4 | 1 | 1 | |
Cumulative-effect adjustment from change in accounting priniciple | 23 | |||
AOCI, ending balance | 6,015 | 5,598 | ||
Southern California Gas Company [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
AOCI, beginning balance | 3,907 | |||
Amounts reclassified from AOCI(2) | 2 | 1 | 1 | |
Cumulative-effect adjustment from change in accounting priniciple | $ 15 | |||
AOCI, ending balance | 4,258 | 3,907 | ||
Foreign currency translation adjustments [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
AOCI, beginning balance | (420) | (527) | (582) | |
OCI before reclassifications | (144) | 107 | 42 | |
Amounts reclassified from AOCI(2) | 0 | 0 | 13 | |
Total other comprehensive income (loss) | (144) | 107 | 55 | |
Cumulative-effect adjustment from change in accounting priniciple | 0 | |||
AOCI, ending balance | (564) | (420) | (527) | |
Financial instruments [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
AOCI, beginning balance | (122) | (125) | (137) | |
OCI before reclassifications | 40 | (4) | (7) | |
Amounts reclassified from AOCI(2) | 3 | 7 | 19 | |
Total other comprehensive income (loss) | 43 | 3 | 12 | |
Cumulative-effect adjustment from change in accounting priniciple | (3) | |||
AOCI, ending balance | (82) | (122) | (125) | |
Financial instruments [Member] | Southern California Gas Company [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
AOCI, beginning balance | (13) | (13) | (14) | |
OCI before reclassifications | 0 | 0 | ||
Amounts reclassified from AOCI(2) | 1 | 0 | 1 | |
Total other comprehensive income (loss) | 1 | 0 | 1 | |
AOCI, ending balance | (12) | (13) | (13) | |
Pension and other postretirement benefits [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
AOCI, beginning balance | (84) | (96) | (87) | |
OCI before reclassifications | (52) | 0 | (15) | |
Amounts reclassified from AOCI(2) | 18 | 12 | 6 | |
Total other comprehensive income (loss) | (34) | 12 | (9) | |
Cumulative-effect adjustment from change in accounting priniciple | 0 | |||
AOCI, ending balance | (118) | (84) | (96) | |
Pension and other postretirement benefits [Member] | San Diego Gas and Electric Company [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
AOCI, beginning balance | (8) | (8) | (8) | |
OCI before reclassifications | (6) | (1) | (1) | |
Amounts reclassified from AOCI(2) | 4 | 1 | 1 | |
Total other comprehensive income (loss) | (2) | 0 | 0 | |
AOCI, ending balance | (10) | (8) | (8) | |
Pension and other postretirement benefits [Member] | Southern California Gas Company [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
AOCI, beginning balance | (8) | (9) | (5) | |
OCI before reclassifications | (1) | (4) | ||
Amounts reclassified from AOCI(2) | 1 | 1 | 0 | |
Total other comprehensive income (loss) | 0 | 1 | (4) | |
AOCI, ending balance | (8) | (8) | (9) | |
Accumulated other comprehensive income (loss) [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
AOCI, beginning balance | (626) | (748) | (806) | |
OCI before reclassifications | (156) | 103 | 20 | |
Amounts reclassified from AOCI(2) | 21 | 19 | 38 | |
Total other comprehensive income (loss) | (135) | 122 | 58 | |
Cumulative-effect adjustment from change in accounting priniciple | (3) | |||
AOCI, ending balance | (764) | (626) | (748) | |
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | ||||
Sale of noncontrolling interests, net of offering costs | 20 | |||
Accumulated other comprehensive income (loss) [Member] | San Diego Gas and Electric Company [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
AOCI, beginning balance | (8) | (8) | (8) | |
OCI before reclassifications | (6) | (1) | (1) | |
Amounts reclassified from AOCI(2) | 4 | 1 | 1 | |
Total other comprehensive income (loss) | (2) | 0 | 0 | |
AOCI, ending balance | (10) | (8) | (8) | |
Accumulated other comprehensive income (loss) [Member] | Southern California Gas Company [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
AOCI, beginning balance | (21) | (22) | (19) | |
OCI before reclassifications | (1) | (4) | ||
Amounts reclassified from AOCI(2) | 2 | 1 | 1 | |
Total other comprehensive income (loss) | 1 | 1 | (3) | |
AOCI, ending balance | $ (20) | $ (21) | $ (22) |
SIGNIFICANT ACCOUNTING POLIC_16
SIGNIFICANT ACCOUNTING POLICIES AND OTHER FINANCIAL DATA - RECLASSIFICATION FROM ACCUMULATED OTHER COMPREHENSIVE INCOME (Details) - USD ($) $ in Millions | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||||
Dec. 31, 2018 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||
Interest expense | $ (925) | $ (659) | [1] | $ (553) | [1] | |||||||||
Other income, net | 72 | 233 | [1] | 138 | [1] | |||||||||
Gain on sale of assets | $ 513 | 524 | 3 | [1] | 134 | [1] | ||||||||
Equity earnings | 176 | 76 | [1] | 84 | [1] | |||||||||
Remeasurement of equity method investment | 0 | 0 | [1] | 617 | [1] | |||||||||
Energy-related businesses | 1,641 | 1,431 | [1] | 922 | [1] | |||||||||
Income before income taxes | 1,046 | 1,551 | [1] | 1,824 | [1] | |||||||||
Income tax (expense) benefit | (96) | (1,276) | [1] | (389) | [1] | |||||||||
(Earnings) losses attributable to noncontrolling interest | (76) | (94) | [1] | (148) | [1] | |||||||||
Earnings attributable to common shares | $ 864 | $ 274 | $ (561) | $ 347 | $ (501) | $ 57 | $ 259 | $ 441 | ||||||
Reclassification from AOCI, Net of taxes | 21 | 19 | 18 | |||||||||||
San Diego Gas and Electric Company [Member] | ||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||
Interest expense | (221) | (203) | [1] | (195) | [1] | |||||||||
Other income, net | 56 | 70 | [1] | 64 | [1] | |||||||||
Income before income taxes | 849 | 576 | [1] | 845 | [1] | |||||||||
Income tax (expense) benefit | (173) | (155) | [1] | (280) | [1] | |||||||||
(Earnings) losses attributable to noncontrolling interest | $ 3 | $ (11) | $ 0 | $ 1 | $ 1 | $ (9) | $ (4) | $ (2) | (7) | (14) | [1] | 5 | [1] | |
Reclassification from AOCI, Net of taxes | 4 | 1 | 1 | |||||||||||
Southern California Gas Company [Member] | ||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||
Interest expense | (115) | (102) | [1] | (97) | [1] | |||||||||
Other income, net | 15 | 31 | [1] | 38 | [1] | |||||||||
Income before income taxes | 493 | 557 | [1] | 493 | [1] | |||||||||
Income tax (expense) benefit | (92) | (160) | [1] | (143) | [1] | |||||||||
Reclassification from AOCI, Net of taxes | 2 | 1 | 1 | |||||||||||
Financial instruments attributable to parent [Member] | ||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||
Reclassification from AOCI, Net of taxes | 3 | 7 | 19 | |||||||||||
Financial instruments attributable to parent [Member] | Southern California Gas Company [Member] | ||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||
Reclassification from AOCI, Net of taxes | 1 | 0 | 1 | |||||||||||
Pension and other postretirement benefits [Member] | ||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||
Reclassification from AOCI, Net of taxes | 18 | 12 | 6 | |||||||||||
Pension and other postretirement benefits [Member] | San Diego Gas and Electric Company [Member] | ||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||
Reclassification from AOCI, Net of taxes | 4 | 1 | 1 | |||||||||||
Pension and other postretirement benefits [Member] | Southern California Gas Company [Member] | ||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||
Reclassification from AOCI, Net of taxes | 1 | 1 | 0 | |||||||||||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Financial instruments [Member] | ||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||
Income before income taxes | 13 | 23 | 33 | |||||||||||
Income tax (expense) benefit | (4) | (6) | (6) | |||||||||||
Net of income tax | 9 | 17 | 27 | |||||||||||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Financial instruments [Member] | Interest rate and foreign exchange instruments [Member] | ||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||
Interest expense | 0 | (4) | 17 | |||||||||||
Other income, net | (2) | 0 | 0 | |||||||||||
Equity earnings | 7 | 20 | 15 | |||||||||||
Remeasurement of equity method investment | 0 | 0 | 7 | |||||||||||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Financial instruments [Member] | Interest rate instruments [Member] | ||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||
Gain on sale of assets | 9 | 0 | 0 | |||||||||||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Financial instruments [Member] | Interest rate instruments [Member] | San Diego Gas and Electric Company [Member] | ||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||
Interest expense | 7 | 13 | 12 | |||||||||||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Financial instruments [Member] | Foreign exchange instruments [Member] | ||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||
Energy-related businesses | (1) | (2) | 0 | |||||||||||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Financial instruments [Member] | Commodity Contracts Not Subject To Rate Recovery [Member] | ||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||
Energy-related businesses | 0 | 9 | (6) | |||||||||||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Financial instruments attributable to Noncontrolling interests [Member] | ||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||
(Earnings) losses attributable to noncontrolling interest | (6) | (10) | (15) | |||||||||||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Financial instruments attributable to Noncontrolling interests [Member] | San Diego Gas and Electric Company [Member] | ||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||
(Earnings) losses attributable to noncontrolling interest | (7) | (13) | (12) | |||||||||||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Financial instruments attributable to parent [Member] | ||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||
Earnings attributable to common shares | 3 | 7 | 12 | |||||||||||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Financial instruments attributable to parent [Member] | San Diego Gas and Electric Company [Member] | ||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||
Earnings attributable to common shares | 0 | 0 | 0 | |||||||||||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Financial instruments attributable to parent [Member] | Interest rate instruments [Member] | Southern California Gas Company [Member] | ||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||
Interest expense | 1 | 0 | 1 | |||||||||||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Amortization of actuarial loss [Member] | ||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||
Other income, net | 12 | 10 | 10 | |||||||||||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Amortization of actuarial loss [Member] | San Diego Gas and Electric Company [Member] | ||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||
Other income, net | 1 | 1 | 1 | |||||||||||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Amortization of prior service cost [Member] | ||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||
Other income, net | 2 | 1 | 1 | |||||||||||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Amortization of prior service cost [Member] | Southern California Gas Company [Member] | ||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||
Other income, net | 1 | 1 | 0 | |||||||||||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Defined Benefit Plans Adjustment, Net Settlements Attributable to Parent [Member] | ||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||
Other income, net | 12 | 8 | 0 | |||||||||||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Defined Benefit Plans Adjustment, Net Settlements Attributable to Parent [Member] | San Diego Gas and Electric Company [Member] | ||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||
Other income, net | 4 | 0 | 0 | |||||||||||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Pension and other postretirement benefits [Member] | ||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||
Income before income taxes | 26 | 19 | 11 | |||||||||||
Income tax (expense) benefit | (8) | (7) | (5) | |||||||||||
Net of income tax | 18 | 12 | 6 | |||||||||||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Pension and other postretirement benefits [Member] | San Diego Gas and Electric Company [Member] | ||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||
Income before income taxes | 5 | 1 | 1 | |||||||||||
Income tax (expense) benefit | (1) | 0 | 0 | |||||||||||
Net of income tax | $ 4 | $ 1 | $ 1 | |||||||||||
[1] | As adjusted for the retrospective adoption of ASU 2017-07, which we discuss in Note 2 , and a reclassification to conform to current year presentation, which we discuss in Note 1 |
SIGNIFICANT ACCOUNTING POLIC_17
SIGNIFICANT ACCOUNTING POLICIES AND OTHER FINANCIAL DATA - NONCONTROLLING INTERESTS (Details) $ / shares in Units, $ in Millions, $ in Millions | Jan. 12, 2018USD ($) | Oct. 13, 2016USD ($)$ / shares$ / $shares | Oct. 13, 2016MXN ($)shares | Feb. 28, 2019USD ($)shares | Dec. 31, 2018USD ($) | Apr. 30, 2018USD ($) | Jan. 31, 2018USD ($) | Dec. 31, 2016USD ($)facility | Dec. 31, 2018USD ($)shares | Dec. 31, 2017USD ($)facilitycompany | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Sep. 30, 2018 | Oct. 19, 2016 | Oct. 18, 2016 |
Noncontrolling Interest [Line Items] | ||||||||||||||||
Stock repurchased in the period | $ 21 | $ 15 | $ 56 | |||||||||||||
Repayments of debt | $ 800 | $ 800 | ||||||||||||||
Impact of issuance on equity | 90 | 196 | 1,701 | |||||||||||||
Decrease from divestiture from noncontrolling interests | 486 | |||||||||||||||
IEnova [Member] | ||||||||||||||||
Noncontrolling Interest [Line Items] | ||||||||||||||||
Stock repurchased during the period (in shares) | shares | 2,000,000 | |||||||||||||||
Stock repurchased in the period | $ 7 | |||||||||||||||
Ownership interest | 66.40% | 81.10% | ||||||||||||||
Price of shares issued (in pesos per share) | $ / shares | $ 80 | |||||||||||||||
Additional shares purchased (in shares) | shares | 83,125,000 | |||||||||||||||
Cash consideration (fair value of total consideration) | $ 351 | |||||||||||||||
Shares issued (in shares) | shares | 380,000,000 | 380,000,000 | ||||||||||||||
Proceeds from sale of shares | $ 1,570 | $ 29,860 | ||||||||||||||
Exchange rate (in pesos) | $ / $ | 18.96 | |||||||||||||||
IEnova [Member] | Bridge Loan [Member] | ||||||||||||||||
Noncontrolling Interest [Line Items] | ||||||||||||||||
Repayments of debt | $ 1,150 | |||||||||||||||
IEnova [Member] | Related Party Debt [Member] | ||||||||||||||||
Noncontrolling Interest [Line Items] | ||||||||||||||||
Repayments of debt | 100 | |||||||||||||||
IEnova [Member] | Revolving Credit Facility [Member] | ||||||||||||||||
Noncontrolling Interest [Line Items] | ||||||||||||||||
Repayments of debt | 250 | |||||||||||||||
Ventika [Member] | IEnova [Member] | ||||||||||||||||
Noncontrolling Interest [Line Items] | ||||||||||||||||
Cash consideration (fair value of total consideration) | $ 50 | |||||||||||||||
Shareholders' equity [Member] | ||||||||||||||||
Noncontrolling Interest [Line Items] | ||||||||||||||||
Stock repurchased in the period | 21 | 15 | 56 | |||||||||||||
Impact of issuance on equity | 4 | 281 | ||||||||||||||
Shareholders' equity [Member] | IEnova [Member] | ||||||||||||||||
Noncontrolling Interest [Line Items] | ||||||||||||||||
Impact of issuance on equity | 281 | |||||||||||||||
Non-controlling interests [Member] | ||||||||||||||||
Noncontrolling Interest [Line Items] | ||||||||||||||||
Impact of issuance on equity | 86 | $ 196 | 1,420 | |||||||||||||
Decrease from divestiture from noncontrolling interests | $ 486 | |||||||||||||||
Non-controlling interests [Member] | IEnova [Member] | ||||||||||||||||
Noncontrolling Interest [Line Items] | ||||||||||||||||
Impact of issuance on equity | $ 948 | |||||||||||||||
Sempra Renewables [Member] | Noncontrolling Tax Equity Investors [Member] | ||||||||||||||||
Noncontrolling Interest [Line Items] | ||||||||||||||||
Number of tax equity limited liability companies formed | company | 2 | |||||||||||||||
Proceeds from sale of noncontrolling interests | $ 474 | |||||||||||||||
Sempra Renewables [Member] | Tax equity arrangement – solar [Member] | ||||||||||||||||
Noncontrolling Interest [Line Items] | ||||||||||||||||
Decrease from divestiture from noncontrolling interests | $ 486 | |||||||||||||||
Solar Power Projects [Member] | Sempra Renewables [Member] | Noncontrolling Tax Equity Investors [Member] | ||||||||||||||||
Noncontrolling Interest [Line Items] | ||||||||||||||||
Number of facilities acquired | facility | 3 | 4 | ||||||||||||||
Proceeds from sale of noncontrolling interests | $ 85 | $ 104 | ||||||||||||||
Wind Generation Projects [Member] | Sempra Renewables [Member] | Noncontrolling Tax Equity Investors [Member] | ||||||||||||||||
Noncontrolling Interest [Line Items] | ||||||||||||||||
Number of facilities acquired | facility | 1 | |||||||||||||||
Proceeds from sale of noncontrolling interests | $ 92 | |||||||||||||||
IEnova [Member] | ||||||||||||||||
Noncontrolling Interest [Line Items] | ||||||||||||||||
Ownership interest | 66.50% | 66.50% | 66.50% | 66.40% | ||||||||||||
Subsequent Event [Member] | IEnova [Member] | ||||||||||||||||
Noncontrolling Interest [Line Items] | ||||||||||||||||
Stock repurchased during the period (in shares) | shares | 1,600,000 | |||||||||||||||
Stock repurchased in the period | $ 6 |
SIGNIFICANT ACCOUNTING POLIC_18
SIGNIFICANT ACCOUNTING POLICIES AND OTHER FINANCIAL DATA - OTHER NONCONTROLLING INTERESTS (Details) $ in Millions | Dec. 31, 2018USD ($)subsidiary | Dec. 31, 2017USD ($) |
Noncontrolling Interest [Line Items] | ||
Other noncontrolling interests | $ 2,090 | $ 2,450 |
SDG&E [Member] | Otay Mesa VIE [Member] | ||
Noncontrolling Interest [Line Items] | ||
Ownership percentage held by noncontrolling owners | 100.00% | 100.00% |
Other noncontrolling interests | $ 100 | $ 28 |
Sempra South American Utilities [Member] | Chilquinta Energia subsidiaries [Member] | ||
Noncontrolling Interest [Line Items] | ||
Other noncontrolling interests | $ 23 | $ 24 |
Number of subsidiaries with noncontrolling interests | subsidiary | 4 | |
Sempra South American Utilities [Member] | Chilquinta Energia subsidiaries [Member] | Minimum [Member] | ||
Noncontrolling Interest [Line Items] | ||
Ownership percentage held by noncontrolling owners | 19.70% | 22.90% |
Sempra South American Utilities [Member] | Chilquinta Energia subsidiaries [Member] | Maximum [Member] | ||
Noncontrolling Interest [Line Items] | ||
Ownership percentage held by noncontrolling owners | 43.40% | 43.40% |
Sempra South American Utilities [Member] | Luz Del Sur [Member] | ||
Noncontrolling Interest [Line Items] | ||
Ownership percentage held by noncontrolling owners | 16.40% | 16.40% |
Other noncontrolling interests | $ 193 | $ 189 |
Sempra South American Utilities [Member] | Tecsur [Member] | ||
Noncontrolling Interest [Line Items] | ||
Ownership percentage held by noncontrolling owners | 9.80% | 9.80% |
Other noncontrolling interests | $ 4 | $ 4 |
Sempra Mexico [Member] | IEnova [Member] | ||
Noncontrolling Interest [Line Items] | ||
Ownership percentage held by noncontrolling owners | 33.50% | 33.60% |
Other noncontrolling interests | $ 1,605 | $ 1,532 |
Sempra Renewables [Member] | Tax equity arrangement – wind [Member] | ||
Noncontrolling Interest [Line Items] | ||
Other noncontrolling interests | $ 158 | 181 |
Sempra Renewables [Member] | Tax equity arrangement – solar [Member] | ||
Noncontrolling Interest [Line Items] | ||
Ownership percentage held by noncontrolling owners | 0.00% | |
Other noncontrolling interests | $ 0 | $ 450 |
Sempra Renewables [Member] | PXISE Energy Solutions LLC [Member] | ||
Noncontrolling Interest [Line Items] | ||
Ownership percentage held by noncontrolling owners | 11.10% | 0.00% |
Other noncontrolling interests | $ 1 | $ 0 |
Sempra LNG & Midstream [Member] | Bay Gas Storage Company [Member] | ||
Noncontrolling Interest [Line Items] | ||
Ownership percentage held by noncontrolling owners | 9.10% | 9.10% |
Other noncontrolling interests | $ 18 | $ 28 |
Sempra LNG & Midstream [Member] | Liberty Gas Storage [Member] | ||
Noncontrolling Interest [Line Items] | ||
Ownership percentage held by noncontrolling owners | 24.60% | 24.60% |
Other noncontrolling interests | $ (12) | $ 14 |
Subsidiaries [Member] | Sempra Mexico [Member] | IEnova subsidiary, one | ||
Noncontrolling Interest [Line Items] | ||
Ownership percentage held by noncontrolling owners | 10.00% | 10.00% |
Subsidiaries [Member] | Sempra Mexico [Member] | IEnova subsidiary, two | ||
Noncontrolling Interest [Line Items] | ||
Ownership percentage held by noncontrolling owners | 49.00% | |
Other noncontrolling interests | $ 13 |
SIGNIFICANT ACCOUNTING POLIC_19
SIGNIFICANT ACCOUNTING POLICIES AND OTHER FINANCIAL DATA - FOREIGN CURRENCY TRANSLATION (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||
Foreign currency transaction losses | $ 5 | $ 35 | $ 1 |
SIGNIFICANT ACCOUNTING POLIC_20
SIGNIFICANT ACCOUNTING POLICIES AND OTHER FINANCIAL DATA - TRANSACTIONS WITH AFFILIATES (Details) $ in Millions, $ in Billions | 12 Months Ended | |||
Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2018MXN ($) | Mar. 31, 2016 | |
Related Party Transaction [Line Items] | ||||
Due from unconsolidated affiliates - current | $ 39 | $ 37 | ||
Due from unconsolidated affiliates - noncurrent | 688 | 598 | ||
Due to unconsolidated affiliates - current | (10) | (7) | ||
Due to unconsolidated affiliates, noncurrent | $ (37) | (35) | ||
ESJ joint venture [Member] | ||||
Related Party Transaction [Line Items] | ||||
Related party transaction rate | 8.89% | |||
TAG Pipeline Norte [Member] | ||||
Related Party Transaction [Line Items] | ||||
Related party transaction rate | 5.77% | |||
LIBOR [Member] | ESJ joint venture [Member] | ||||
Related Party Transaction [Line Items] | ||||
Variable percentage rate | 6.375% | |||
LIBOR [Member] | TAG Pipeline Norte [Member] | ||||
Related Party Transaction [Line Items] | ||||
Variable percentage rate | 2.90% | |||
Sempra South American Utilities [Member] | Eletrans [Member] | ||||
Related Party Transaction [Line Items] | ||||
Due from unconsolidated affiliates - noncurrent | $ 43 | 103 | ||
Sempra South American Utilities [Member] | Other related parties [Member] | ||||
Related Party Transaction [Line Items] | ||||
Due from unconsolidated affiliates - noncurrent | 1 | 1 | ||
Sempra Mexico [Member] | IMG [Member] | ||||
Related Party Transaction [Line Items] | ||||
Due from unconsolidated affiliates - noncurrent | 641 | 487 | ||
Total facility | 721 | $ 14.2 | ||
Sempra Mexico [Member] | ESJ joint venture [Member] | ||||
Related Party Transaction [Line Items] | ||||
Due from unconsolidated affiliates - noncurrent | $ 3 | 7 | ||
Sempra Mexico [Member] | TAG Pipeline Norte [Member] | ||||
Related Party Transaction [Line Items] | ||||
Ownership percentage in equity method investee | 50.00% | 50.00% | ||
Due to unconsolidated affiliates, noncurrent | $ (37) | (35) | ||
Sempra Mexico [Member] | Interbank Equilibrium Rate [Member] | IMG [Member] | ||||
Related Party Transaction [Line Items] | ||||
Variable percentage rate | 2.20% | |||
Related party transaction rate | 10.84% | |||
San Diego Gas and Electric Company [Member] | ||||
Related Party Transaction [Line Items] | ||||
Due to unconsolidated affiliates - current | $ (61) | (40) | ||
Total facility | 750 | |||
San Diego Gas and Electric Company [Member] | Due to/from Sempra Energy [Member] | ||||
Related Party Transaction [Line Items] | ||||
Due to unconsolidated affiliates - current | (43) | (30) | ||
Income taxes due from Sempra Energy | 5 | 27 | ||
San Diego Gas and Electric Company [Member] | Due to/from SoCalGas [Member] | ||||
Related Party Transaction [Line Items] | ||||
Due to unconsolidated affiliates - current | (6) | (4) | ||
San Diego Gas and Electric Company [Member] | Due to/from Various Affiliates [Member] | ||||
Related Party Transaction [Line Items] | ||||
Due to unconsolidated affiliates - current | (12) | (6) | ||
Southern California Gas Company [Member] | ||||
Related Party Transaction [Line Items] | ||||
Due from unconsolidated affiliates - current | 7 | 4 | ||
Due to unconsolidated affiliates - current | (34) | (35) | ||
Total facility | 750 | |||
Southern California Gas Company [Member] | Due to/from Sempra Energy [Member] | ||||
Related Party Transaction [Line Items] | ||||
Due to unconsolidated affiliates - current | (34) | (35) | ||
Income taxes due to Sempra Energy | (4) | |||
Income taxes due from Sempra Energy | 10 | |||
Southern California Gas Company [Member] | Due to/from Various Affiliates [Member] | ||||
Related Party Transaction [Line Items] | ||||
Due from unconsolidated affiliates - current | 1 | 0 | ||
Southern California Gas Company [Member] | Due to/from SDGE [Member] | ||||
Related Party Transaction [Line Items] | ||||
Due from unconsolidated affiliates - current | $ 6 | $ 4 | ||
Rockies Express [Member] | Sempra LNG & Midstream [Member] | ||||
Related Party Transaction [Line Items] | ||||
Ownership percentage in equity method investee | 25.00% |
SIGNIFICANT ACCOUNTING POLIC_21
SIGNIFICANT ACCOUNTING POLICIES AND OTHER FINANCIAL DATA - AFFILIATES REVENUE AND COST OF SALES (Details) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018USD ($)MW | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | |
Related Party Transaction [Line Items] | |||
Related party revenue | $ 64 | $ 43 | $ 25 |
Related party cost of sales | 46 | 47 | 72 |
San Diego Gas and Electric Company [Member] | |||
Related Party Transaction [Line Items] | |||
Related party revenue | 5 | 8 | 7 |
Related party cost of sales | 73 | 71 | 64 |
Southern California Gas Company [Member] | |||
Related Party Transaction [Line Items] | |||
Related party revenue | $ 64 | $ 74 | $ 76 |
Energia Sierra Juarez Wind Project [Member] | San Diego Gas and Electric Company [Member] | |||
Related Party Transaction [Line Items] | |||
Power purchase agreement term | 20 years | ||
Generating capacity (in mw) | MW | 155 | ||
Minimum [Member] | Federal Funds Rate [Member] | California Utilities [Member] | |||
Related Party Transaction [Line Items] | |||
Variable percentage rate | 0.13% | ||
Maximum [Member] | Federal Funds Rate [Member] | California Utilities [Member] | |||
Related Party Transaction [Line Items] | |||
Variable percentage rate | 0.20% |
SIGNIFICANT ACCOUNTING POLIC_22
SIGNIFICANT ACCOUNTING POLICIES AND OTHER FINANCIAL DATA - RESTRICTED NET ASSETS (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2018USD ($) | |
Significant Restrictions of Subsidiaries [Line Items] | |
Undistributed earnings of equity investments | $ 332 |
Sempra Texas Utility [Member] | Oncor Holdings Electric Delivery Company LLC [Member] | |
Significant Restrictions of Subsidiaries [Line Items] | |
Ownership percentage in equity method investee | 100.00% |
Sempra Texas Utility [Member] | Oncor Electric Delivery Company LLC [Member] | |
Significant Restrictions of Subsidiaries [Line Items] | |
Ownership percentage in equity method investee | 80.25% |
Sempra South American Utilities [Member] | Luz Del Sur [Member] | |
Significant Restrictions of Subsidiaries [Line Items] | |
Restricted net assets of consolidated subsidiaries | $ 35 |
Sempra Mexico [Member] | Mexican Subsidiaries [Member] | |
Significant Restrictions of Subsidiaries [Line Items] | |
Restricted net assets of consolidated subsidiaries | 153 |
Sempra Mexico [Member] | IEnova Pipelines [Member] | |
Significant Restrictions of Subsidiaries [Line Items] | |
Restricted net assets of consolidated subsidiaries | 10 |
Sempra Mexico [Member] | Ventika [Member] | |
Significant Restrictions of Subsidiaries [Line Items] | |
Restricted net assets of consolidated subsidiaries | 14 |
Sempra Mexico [Member] | Energia Sierra Juarez Wind Project [Member] | |
Significant Restrictions of Subsidiaries [Line Items] | |
Restricted net assets of consolidated subsidiaries | $ 14 |
Ownership percentage in equity method investee | 50.00% |
Sempra Mexico [Member] | TAG Pipeline Norte [Member] | |
Significant Restrictions of Subsidiaries [Line Items] | |
Restricted net assets of consolidated subsidiaries | $ 89 |
Ownership percentage in equity method investee | 50.00% |
Sempra Renewables [Member] | |
Significant Restrictions of Subsidiaries [Line Items] | |
Restricted net assets of consolidated subsidiaries | $ 122 |
Sempra Renewables [Member] | Joint Venture One [Member] | |
Significant Restrictions of Subsidiaries [Line Items] | |
Ownership percentage in equity method investee | 50.00% |
Sempra LNG & Midstream [Member] | Cameron LNG Holdings [Member] | |
Significant Restrictions of Subsidiaries [Line Items] | |
Restricted net assets of consolidated subsidiaries | $ 8,700 |
Consolidated Entities [Member] | |
Significant Restrictions of Subsidiaries [Line Items] | |
Restricted net assets of consolidated subsidiaries | 9,300 |
Unconsolidated Entities [Member] | |
Significant Restrictions of Subsidiaries [Line Items] | |
Restricted net assets of consolidated subsidiaries | 18,600 |
San Diego Gas and Electric Company [Member] | |
Significant Restrictions of Subsidiaries [Line Items] | |
Restricted net assets of consolidated subsidiaries | 5,500 |
Amount available for dividend distribution and loans without prior approval from regulatory agency | $ 552 |
Authorized percentage of equity | 52.00% |
Southern California Gas Company [Member] | |
Significant Restrictions of Subsidiaries [Line Items] | |
Restricted net assets of consolidated subsidiaries | $ 3,600 |
Amount available for dividend distribution and loans without prior approval from regulatory agency | $ 618 |
Authorized percentage of equity | 52.00% |
California Utilities [Member] | |
Significant Restrictions of Subsidiaries [Line Items] | |
Maximum ratio of indebtedness to total capitalization | 0.65 |
Sempra Texas Utility [Member] | |
Significant Restrictions of Subsidiaries [Line Items] | |
Maximum ratio of indebtedness to total capitalization | 0.65 |
Plan percentage of capital structure allocated to debt | 57.50% |
Plan percentage of capital structure allocated to equity | 42.50% |
Oncor Electric Delivery Company LLC [Member] | |
Significant Restrictions of Subsidiaries [Line Items] | |
Restricted net assets of consolidated subsidiaries | $ 9,700 |
Minimum [Member] | San Diego Gas and Electric Company [Member] | |
Significant Restrictions of Subsidiaries [Line Items] | |
Minimum common equity ratio | 30.00% |
SIGNIFICANT ACCOUNTING POLIC_23
SIGNIFICANT ACCOUNTING POLICIES AND OTHER FINANCIAL DATA - OTHER INCOME, NET (Details) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |||
Other Income [Line Items] | |||||
Allowance for equity funds used during construction | $ 98 | $ 168 | $ 116 | ||
Investment (losses) gains | (6) | 56 | 23 | ||
Gains (losses) on interest rate and foreign exchange instruments, net | 7 | 47 | (32) | ||
Foreign currency transaction losses | (5) | (35) | (1) | ||
Non-service component of net periodic benefit (cost) credit | (37) | (21) | 6 | ||
Electrical infrastructure relocation income | 7 | 3 | 10 | ||
Interest on regulatory balancing accounts, net | 2 | 3 | 4 | ||
Sundry, net | 6 | 12 | 12 | ||
Total | 72 | 233 | [1] | 138 | [1] |
San Diego Gas and Electric Company [Member] | |||||
Other Income [Line Items] | |||||
Allowance for equity funds used during construction | 61 | 63 | 46 | ||
Non-service component of net periodic benefit (cost) credit | (6) | 4 | 14 | ||
Interest on regulatory balancing accounts, net | 4 | 3 | 3 | ||
Sundry, net | (3) | 0 | 1 | ||
Total | 56 | 70 | [1] | 64 | [1] |
Southern California Gas Company [Member] | |||||
Other Income [Line Items] | |||||
Allowance for equity funds used during construction | 36 | 44 | 40 | ||
Non-service component of net periodic benefit (cost) credit | (10) | (5) | 6 | ||
Interest on regulatory balancing accounts, net | (2) | 0 | 1 | ||
Sundry, net | (9) | (8) | (9) | ||
Total | 15 | 31 | [1] | $ 38 | [1] |
Sempra Mexico [Member] | IMG [Member] | |||||
Other Income [Line Items] | |||||
Foreign currency transaction losses | $ (3) | $ (35) | |||
[1] | As adjusted for the retrospective adoption of ASU 2017-07, which we discuss in Note 2 , and a reclassification to conform to current year presentation, which we discuss in Note 1 |
NEW ACCOUNTING STANDARDS - NARR
NEW ACCOUNTING STANDARDS - NARRATIVE (Details) - USD ($) $ in Millions | 12 Months Ended | |||||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | [1] | Jan. 01, 2019 | Jan. 01, 2018 | Dec. 31, 2015 | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||
Cumulative-effect adjustment from change in accounting priniciple | $ (1) | $ 107 | ||||||
Retained earnings | $ 10,104 | 10,147 | ||||||
Regulatory Liability, Noncurrent | 4,016 | 3,922 | ||||||
Accumulated other comprehensive income (loss) | (764) | (626) | ||||||
Accounting Standards Update 2016-01 and 2018-03 [Member] | ||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||
Cumulative-effect adjustment from change in accounting priniciple | $ 1 | |||||||
Accounting Standards Update 2017-12 [Member] | ||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||
Cumulative-effect adjustment from change in accounting priniciple | $ 3 | |||||||
San Diego Gas and Electric Company [Member] | ||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||
Cumulative-effect adjustment from change in accounting priniciple | 23 | |||||||
Cost of electric fuel and purchased power | 1,370 | 1,293 | [1] | $ 1,187 | ||||
Retained earnings | 4,687 | 4,268 | ||||||
Regulatory Liability, Noncurrent | 2,404 | 2,225 | ||||||
Accumulated other comprehensive income (loss) | (10) | (8) | ||||||
Southern California Gas Company [Member] | ||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||
Cumulative-effect adjustment from change in accounting priniciple | $ 15 | |||||||
Retained earnings | 3,390 | 3,040 | ||||||
Regulatory Liability, Noncurrent | 1,612 | 1,697 | ||||||
Accumulated other comprehensive income (loss) | (20) | $ (21) | ||||||
Scenario, Forecast [Member] | Accounting Standards Update 2018-02 [Member] | ||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||
Retained earnings | $ 40 | |||||||
Regulatory Liability, Noncurrent | 2 | |||||||
Accumulated other comprehensive income (loss) | 42 | |||||||
Scenario, Forecast [Member] | San Diego Gas and Electric Company [Member] | Accounting Standards Update 2018-02 [Member] | ||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||
Retained earnings | 2 | |||||||
Accumulated other comprehensive income (loss) | 2 | |||||||
Scenario, Forecast [Member] | Southern California Gas Company [Member] | Accounting Standards Update 2018-02 [Member] | ||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||
Retained earnings | 2 | |||||||
Regulatory Liability, Noncurrent | 2 | |||||||
Accumulated other comprehensive income (loss) | $ 4 | |||||||
Assets Held under Capital Leases [Member] | ||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||
Cost of electric fuel and purchased power | $ 117 | |||||||
[1] | As adjusted for the retrospective adoption of ASU 2017-07, which we discuss in Note 2 , and a reclassification to conform to current year presentation, which we discuss in Note 1 |
REVENUES - DISAGGREGATION OF RE
REVENUES - DISAGGREGATION OF REVENUE (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | [1] | Dec. 31, 2016 | [1] | |
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | $ 11,027 | ||||||||||||
Utilities regulatory revenues | 165 | ||||||||||||
Other revenues | 495 | ||||||||||||
Total revenues | $ 3,221 | $ 2,940 | $ 2,564 | $ 2,962 | $ 2,964 | $ 2,679 | $ 2,533 | $ 3,031 | 11,687 | $ 11,207 | $ 10,183 | ||
Over time [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 10,756 | ||||||||||||
Point in time [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 271 | ||||||||||||
Utilities service line [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 9,881 | ||||||||||||
Midstream service line [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 716 | ||||||||||||
Renewables service line [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 154 | ||||||||||||
Other service line [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 276 | ||||||||||||
Electric market [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 6,227 | ||||||||||||
Gas market [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 4,800 | ||||||||||||
Operating Segments [Member] | San Diego Gas and Electric Company [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 4,788 | ||||||||||||
Utilities regulatory revenues | (220) | ||||||||||||
Other revenues | 0 | ||||||||||||
Total revenues | 4,568 | ||||||||||||
Operating Segments [Member] | San Diego Gas and Electric Company [Member] | Over time [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 4,677 | ||||||||||||
Operating Segments [Member] | San Diego Gas and Electric Company [Member] | Point in time [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 111 | ||||||||||||
Operating Segments [Member] | San Diego Gas and Electric Company [Member] | Utilities service line [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 4,788 | ||||||||||||
Operating Segments [Member] | San Diego Gas and Electric Company [Member] | Midstream service line [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 0 | ||||||||||||
Operating Segments [Member] | San Diego Gas and Electric Company [Member] | Renewables service line [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 0 | ||||||||||||
Operating Segments [Member] | San Diego Gas and Electric Company [Member] | Other service line [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 0 | ||||||||||||
Operating Segments [Member] | San Diego Gas and Electric Company [Member] | Electric market [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 4,297 | ||||||||||||
Operating Segments [Member] | San Diego Gas and Electric Company [Member] | Gas market [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 491 | ||||||||||||
Operating Segments [Member] | Southern California Gas Company [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 3,577 | ||||||||||||
Utilities regulatory revenues | 385 | ||||||||||||
Other revenues | 0 | ||||||||||||
Total revenues | 3,962 | ||||||||||||
Operating Segments [Member] | Southern California Gas Company [Member] | Over time [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 3,454 | ||||||||||||
Operating Segments [Member] | Southern California Gas Company [Member] | Point in time [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 123 | ||||||||||||
Operating Segments [Member] | Southern California Gas Company [Member] | Utilities service line [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 3,577 | ||||||||||||
Operating Segments [Member] | Southern California Gas Company [Member] | Midstream service line [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 0 | ||||||||||||
Operating Segments [Member] | Southern California Gas Company [Member] | Renewables service line [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 0 | ||||||||||||
Operating Segments [Member] | Southern California Gas Company [Member] | Other service line [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 0 | ||||||||||||
Operating Segments [Member] | Southern California Gas Company [Member] | Electric market [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 0 | ||||||||||||
Operating Segments [Member] | Southern California Gas Company [Member] | Gas market [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 3,577 | ||||||||||||
Operating Segments [Member] | Sempra South American Utilities [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 1,580 | ||||||||||||
Utilities regulatory revenues | 0 | ||||||||||||
Other revenues | 5 | ||||||||||||
Total revenues | 1,585 | ||||||||||||
Operating Segments [Member] | Sempra South American Utilities [Member] | Over time [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 1,554 | ||||||||||||
Operating Segments [Member] | Sempra South American Utilities [Member] | Point in time [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 26 | ||||||||||||
Operating Segments [Member] | Sempra South American Utilities [Member] | Utilities service line [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 1,507 | ||||||||||||
Operating Segments [Member] | Sempra South American Utilities [Member] | Midstream service line [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 0 | ||||||||||||
Operating Segments [Member] | Sempra South American Utilities [Member] | Renewables service line [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 0 | ||||||||||||
Operating Segments [Member] | Sempra South American Utilities [Member] | Other service line [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 73 | ||||||||||||
Operating Segments [Member] | Sempra South American Utilities [Member] | Electric market [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 1,580 | ||||||||||||
Operating Segments [Member] | Sempra South American Utilities [Member] | Gas market [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 0 | ||||||||||||
Operating Segments [Member] | Sempra Mexico [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 1,019 | ||||||||||||
Utilities regulatory revenues | 0 | ||||||||||||
Other revenues | 357 | ||||||||||||
Total revenues | 1,376 | ||||||||||||
Operating Segments [Member] | Sempra Mexico [Member] | Over time [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 1,019 | ||||||||||||
Operating Segments [Member] | Sempra Mexico [Member] | Point in time [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 0 | ||||||||||||
Operating Segments [Member] | Sempra Mexico [Member] | Utilities service line [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 78 | ||||||||||||
Operating Segments [Member] | Sempra Mexico [Member] | Midstream service line [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 630 | ||||||||||||
Operating Segments [Member] | Sempra Mexico [Member] | Renewables service line [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 108 | ||||||||||||
Operating Segments [Member] | Sempra Mexico [Member] | Other service line [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 203 | ||||||||||||
Operating Segments [Member] | Sempra Mexico [Member] | Electric market [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 308 | ||||||||||||
Operating Segments [Member] | Sempra Mexico [Member] | Gas market [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 711 | ||||||||||||
Operating Segments [Member] | Sempra Renewables [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 46 | ||||||||||||
Utilities regulatory revenues | 0 | ||||||||||||
Other revenues | 78 | ||||||||||||
Total revenues | 124 | ||||||||||||
Operating Segments [Member] | Sempra Renewables [Member] | Over time [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 46 | ||||||||||||
Operating Segments [Member] | Sempra Renewables [Member] | Point in time [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 0 | ||||||||||||
Operating Segments [Member] | Sempra Renewables [Member] | Utilities service line [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 0 | ||||||||||||
Operating Segments [Member] | Sempra Renewables [Member] | Midstream service line [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 0 | ||||||||||||
Operating Segments [Member] | Sempra Renewables [Member] | Renewables service line [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 46 | ||||||||||||
Operating Segments [Member] | Sempra Renewables [Member] | Other service line [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 0 | ||||||||||||
Operating Segments [Member] | Sempra Renewables [Member] | Electric market [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 46 | ||||||||||||
Operating Segments [Member] | Sempra Renewables [Member] | Gas market [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 0 | ||||||||||||
Operating Segments [Member] | Sempra LNG & Midstream [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 232 | ||||||||||||
Utilities regulatory revenues | 0 | ||||||||||||
Other revenues | 240 | ||||||||||||
Total revenues | 472 | ||||||||||||
Operating Segments [Member] | Sempra LNG & Midstream [Member] | Over time [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 210 | ||||||||||||
Operating Segments [Member] | Sempra LNG & Midstream [Member] | Point in time [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 22 | ||||||||||||
Operating Segments [Member] | Sempra LNG & Midstream [Member] | Utilities service line [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 0 | ||||||||||||
Operating Segments [Member] | Sempra LNG & Midstream [Member] | Midstream service line [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 224 | ||||||||||||
Operating Segments [Member] | Sempra LNG & Midstream [Member] | Renewables service line [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 2 | ||||||||||||
Operating Segments [Member] | Sempra LNG & Midstream [Member] | Other service line [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 6 | ||||||||||||
Operating Segments [Member] | Sempra LNG & Midstream [Member] | Electric market [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 8 | ||||||||||||
Operating Segments [Member] | Sempra LNG & Midstream [Member] | Gas market [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | 224 | ||||||||||||
Consolidating Adjustments [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | (215) | ||||||||||||
Utilities regulatory revenues | 0 | ||||||||||||
Other revenues | (185) | ||||||||||||
Total revenues | (400) | ||||||||||||
Consolidating Adjustments [Member] | Over time [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | (204) | ||||||||||||
Consolidating Adjustments [Member] | Point in time [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | (11) | ||||||||||||
Consolidating Adjustments [Member] | Utilities service line [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | (69) | ||||||||||||
Consolidating Adjustments [Member] | Midstream service line [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | (138) | ||||||||||||
Consolidating Adjustments [Member] | Renewables service line [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | (2) | ||||||||||||
Consolidating Adjustments [Member] | Other service line [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | (6) | ||||||||||||
Consolidating Adjustments [Member] | Electric market [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | (12) | ||||||||||||
Consolidating Adjustments [Member] | Gas market [Member] | |||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||
Revenues from contracts with customers | $ (203) | ||||||||||||
[1] | As adjusted for the retrospective adoption of ASU 2017-07, which we discuss in Note 2 , and a reclassification to conform to current year presentation, which we discuss in Note 1 |
NEW ACCOUNTING STANDARDS - BALA
NEW ACCOUNTING STANDARDS - BALANCE SHEET IMPACT (Details) - USD ($) $ in Millions | Jan. 01, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Other current assets | $ 257 | $ 202 | |
Property, plant and equipment, net | 36,796 | 36,503 | |
Deferred income taxes | 2,571 | 2,767 | |
Other current liabilities | 970 | 816 | |
Deferred credits and other | 1,529 | 1,602 | |
Retained earnings | 10,104 | 10,147 | |
San Diego Gas and Electric Company [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Other current assets | 5 | 4 | |
Property, plant and equipment, net | 16,310 | 14,838 | |
Deferred income taxes | 1,616 | 1,530 | |
Other current liabilities | 141 | 147 | |
Deferred credits and other | 488 | 544 | |
Retained earnings | 4,687 | 4,268 | |
Southern California Gas Company [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Other current assets | 31 | 48 | |
Property, plant and equipment, net | 12,439 | 11,406 | |
Deferred income taxes | 1,177 | 995 | |
Other current liabilities | 217 | 137 | |
Deferred credits and other | 330 | 345 | |
Retained earnings | $ 3,390 | $ 3,040 | |
Scenario, Forecast [Member] | Accounting Standards Update 2016-02 [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Other current assets | $ (68) | ||
Property, plant and equipment, net | (147) | ||
Right-of-use assets – operating leases | 623 | ||
Deferred income taxes | (3) | ||
Other current liabilities | 81 | ||
Long-term debt | (138) | ||
Deferred credits and other | 445 | ||
Retained earnings | 17 | ||
Scenario, Forecast [Member] | San Diego Gas and Electric Company [Member] | Accounting Standards Update 2016-02 [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Other current assets | 0 | ||
Property, plant and equipment, net | 0 | ||
Right-of-use assets – operating leases | 130 | ||
Deferred income taxes | 0 | ||
Other current liabilities | 20 | ||
Long-term debt | 0 | ||
Deferred credits and other | 110 | ||
Retained earnings | 0 | ||
Scenario, Forecast [Member] | Southern California Gas Company [Member] | Accounting Standards Update 2016-02 [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Other current assets | 0 | ||
Property, plant and equipment, net | 0 | ||
Right-of-use assets – operating leases | 116 | ||
Deferred income taxes | 0 | ||
Other current liabilities | 23 | ||
Long-term debt | 0 | ||
Deferred credits and other | 93 | ||
Retained earnings | $ 0 |
REVENUES - PERFORMANCE OBLIGATI
REVENUES - PERFORMANCE OBLIGATIONS (Details) $ in Millions | Dec. 31, 2018USD ($) |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenues to be recognized | $ 540 |
Revenues to be recognized, period of recognition | 1 year |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenues to be recognized | $ 534 |
Revenues to be recognized, period of recognition | 1 year |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenues to be recognized | $ 529 |
Revenues to be recognized, period of recognition | 1 year |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenues to be recognized | $ 528 |
Revenues to be recognized, period of recognition | 1 year |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenues to be recognized | $ 516 |
Revenues to be recognized, period of recognition | 1 year |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenues to be recognized | $ 2,813 |
Revenues to be recognized, period of recognition | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: (nil) | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenues to be recognized | $ 5,460 |
San Diego Gas and Electric Company [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenues to be recognized | $ 3 |
Revenues to be recognized, period of recognition | 1 year |
San Diego Gas and Electric Company [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenues to be recognized | $ 3 |
Revenues to be recognized, period of recognition | 1 year |
San Diego Gas and Electric Company [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenues to be recognized | $ 3 |
Revenues to be recognized, period of recognition | 1 year |
San Diego Gas and Electric Company [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenues to be recognized | $ 3 |
Revenues to be recognized, period of recognition | 1 year |
San Diego Gas and Electric Company [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenues to be recognized | $ 3 |
Revenues to be recognized, period of recognition | 1 year |
San Diego Gas and Electric Company [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenues to be recognized | $ 52 |
Revenues to be recognized, period of recognition | |
San Diego Gas and Electric Company [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: (nil) | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenues to be recognized | $ 67 |
NEW ACCOUNTING STANDARDS - INCO
NEW ACCOUNTING STANDARDS - INCOME STATEMENT IMPACT (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |||
Income Statement [Abstract] | |||||||||||||
Operation and maintenance | $ 3,309 | $ 3,096 | [1] | $ 2,976 | [1] | ||||||||
Other income, net | 72 | 233 | [1] | 138 | [1] | ||||||||
Accounting Standards Update 2017-07 [Member] | |||||||||||||
Income Statement [Abstract] | |||||||||||||
Operation and maintenance | 3,096 | 2,976 | |||||||||||
Other income, net | 233 | 138 | |||||||||||
Accounting Standards Update 2017-07 [Member] | As previously reported [Member] | |||||||||||||
Income Statement [Abstract] | |||||||||||||
Operation and maintenance | 3,117 | 2,970 | |||||||||||
Other income, net | 254 | 132 | |||||||||||
Accounting Standards Update 2017-07 [Member] | Effect of adoption [Member] | |||||||||||||
Income Statement [Abstract] | |||||||||||||
Operation and maintenance | (21) | 6 | |||||||||||
Other income, net | (21) | 6 | |||||||||||
San Diego Gas and Electric Company [Member] | |||||||||||||
Income Statement [Abstract] | |||||||||||||
Utilities Operation and maintenance | 1,058 | 1,024 | [1] | 1,062 | [1] | ||||||||
Operating income | $ 247 | $ 300 | $ 215 | $ 248 | $ 256 | $ (58) | $ 237 | $ 274 | 1,010 | 709 | [1] | 976 | [1] |
Other income, net | 56 | 70 | [1] | 64 | [1] | ||||||||
San Diego Gas and Electric Company [Member] | Accounting Standards Update 2017-07 [Member] | |||||||||||||
Income Statement [Abstract] | |||||||||||||
Utilities Operation and maintenance | 1,024 | 1,062 | |||||||||||
Operating expenses | 3,767 | 3,277 | |||||||||||
Operating income | 709 | 976 | |||||||||||
Other income, net | 70 | 64 | |||||||||||
San Diego Gas and Electric Company [Member] | Accounting Standards Update 2017-07 [Member] | As previously reported [Member] | |||||||||||||
Income Statement [Abstract] | |||||||||||||
Utilities Operation and maintenance | 1,020 | 1,048 | |||||||||||
Operating expenses | 3,763 | 3,263 | |||||||||||
Operating income | 713 | 990 | |||||||||||
Other income, net | 66 | 50 | |||||||||||
San Diego Gas and Electric Company [Member] | Accounting Standards Update 2017-07 [Member] | Effect of adoption [Member] | |||||||||||||
Income Statement [Abstract] | |||||||||||||
Utilities Operation and maintenance | 4 | 14 | |||||||||||
Operating expenses | 4 | 14 | |||||||||||
Operating income | (4) | (14) | |||||||||||
Other income, net | 4 | 14 | |||||||||||
Southern California Gas Company [Member] | |||||||||||||
Income Statement [Abstract] | |||||||||||||
Utilities Operation and maintenance | 1,613 | 1,474 | [1] | 1,391 | [1] | ||||||||
Operating income | $ 239 | $ 5 | $ 69 | $ 278 | $ 230 | $ 5 | $ 80 | $ 312 | 591 | 627 | [1] | 551 | [1] |
Other income, net | $ 15 | 31 | [1] | 38 | [1] | ||||||||
Southern California Gas Company [Member] | Accounting Standards Update 2017-07 [Member] | |||||||||||||
Income Statement [Abstract] | |||||||||||||
Utilities Operation and maintenance | 1,474 | 1,391 | |||||||||||
Operating expenses | 3,158 | 2,920 | |||||||||||
Operating income | 627 | 551 | |||||||||||
Other income, net | 31 | 38 | |||||||||||
Southern California Gas Company [Member] | Accounting Standards Update 2017-07 [Member] | As previously reported [Member] | |||||||||||||
Income Statement [Abstract] | |||||||||||||
Utilities Operation and maintenance | 1,479 | 1,385 | |||||||||||
Operating expenses | 3,163 | 2,914 | |||||||||||
Operating income | 622 | 557 | |||||||||||
Other income, net | 36 | 32 | |||||||||||
Southern California Gas Company [Member] | Accounting Standards Update 2017-07 [Member] | Effect of adoption [Member] | |||||||||||||
Income Statement [Abstract] | |||||||||||||
Utilities Operation and maintenance | (5) | 6 | |||||||||||
Operating expenses | (5) | 6 | |||||||||||
Operating income | 5 | (6) | |||||||||||
Other income, net | $ (5) | $ 6 | |||||||||||
[1] | As adjusted for the retrospective adoption of ASU 2017-07, which we discuss in Note 2 , and a reclassification to conform to current year presentation, which we discuss in Note 1 |
REVENUES - CONTRACT LIABILITIES
REVENUES - CONTRACT LIABILITIES (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2018USD ($) | |
Contract with Customer, Liability [Roll Forward] | |
Opening balance, January 1, 2018 | $ 0 |
Adoption of ASC 606 adjustment | (68) |
Revenue from performance obligations satisfied during reporting period | 31 |
Payments received in advance | (39) |
Closing balance, December 31, 2018 | (76) |
Other Current Liabilities [Member] | |
Contract with Customer, Liability [Roll Forward] | |
Closing balance, December 31, 2018 | (6) |
Deferred Credits and Other [Member] | |
Contract with Customer, Liability [Roll Forward] | |
Closing balance, December 31, 2018 | (70) |
San Diego Gas and Electric Company [Member] | |
Contract with Customer, Liability [Roll Forward] | |
Closing balance, December 31, 2018 | 0 |
Southern California Gas Company [Member] | |
Contract with Customer, Liability [Roll Forward] | |
Closing balance, December 31, 2018 | $ 0 |
REVENUES - RECEIVABLES FROM REV
REVENUES - RECEIVABLES FROM REVENUES FROM CONTRACTS WITH CUSTOMERS (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Jan. 01, 2018 |
Contract with Customer, Asset [Line Items] | ||
Receivables from revenues from contracts with customers | $ 1,354 | $ 1,212 |
Accounts receivable – trade, net [Member] | ||
Contract with Customer, Asset [Line Items] | ||
Receivables from revenues from contracts with customers | 1,333 | 1,194 |
Accounts receivable – other, net [Member] | ||
Contract with Customer, Asset [Line Items] | ||
Receivables from revenues from contracts with customers | 11 | 10 |
Due from unconsolidated affiliates – current [Member] | ||
Contract with Customer, Asset [Line Items] | ||
Receivables from revenues from contracts with customers | 4 | 8 |
Assets held-for-sale [Member] | ||
Contract with Customer, Asset [Line Items] | ||
Receivables from revenues from contracts with customers | 6 | 0 |
San Diego Gas and Electric Company [Member] | ||
Contract with Customer, Asset [Line Items] | ||
Receivables from revenues from contracts with customers | 377 | 368 |
San Diego Gas and Electric Company [Member] | Accounts receivable – trade, net [Member] | ||
Contract with Customer, Asset [Line Items] | ||
Receivables from revenues from contracts with customers | 368 | 362 |
San Diego Gas and Electric Company [Member] | Accounts receivable – other, net [Member] | ||
Contract with Customer, Asset [Line Items] | ||
Receivables from revenues from contracts with customers | 6 | 3 |
San Diego Gas and Electric Company [Member] | Due from unconsolidated affiliates – current [Member] | ||
Contract with Customer, Asset [Line Items] | ||
Receivables from revenues from contracts with customers | 3 | 3 |
Southern California Gas Company [Member] | ||
Contract with Customer, Asset [Line Items] | ||
Receivables from revenues from contracts with customers | 639 | 524 |
Southern California Gas Company [Member] | Accounts receivable – trade, net [Member] | ||
Contract with Customer, Asset [Line Items] | ||
Receivables from revenues from contracts with customers | 634 | 517 |
Southern California Gas Company [Member] | Accounts receivable – other, net [Member] | ||
Contract with Customer, Asset [Line Items] | ||
Receivables from revenues from contracts with customers | $ 5 | $ 7 |
REVENUES - OTHER REVENUES (Deta
REVENUES - OTHER REVENUES (Details) | Dec. 31, 2018 |
Sempra Renewables [Member] | |
Lessee, Lease, Description [Line Items] | |
Operating lease term | 15 years |
REGULATORY MATTERS - REGULATORY
REGULATORY MATTERS - REGULATORY ACCOUNTS (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Schedule Of Net Regulatory Assets (Liabilities) [Line Items] | |||
Amortization expense on regulatory assets | $ 5 | $ 50 | $ 65 |
Net Regulatory Assets (Liabilities) Sempra Energy Consolidated [Member] | |||
Schedule Of Net Regulatory Assets (Liabilities) [Line Items] | |||
Net regulatory assets (liabilities) | (2,394) | (2,189) | |
San Diego Gas and Electric Company [Member] | |||
Schedule Of Net Regulatory Assets (Liabilities) [Line Items] | |||
Regulatory balancing accounts - net undercollected, Noncurrent | 78 | 63 | |
Amortization expense on regulatory assets | 2 | 49 | 63 |
San Diego Gas and Electric Company [Member] | Fixed-price contracts and other derivatives [Member] | |||
Schedule Of Net Regulatory Assets (Liabilities) [Line Items] | |||
Net regulatory assets (liabilities) | (150) | 96 | |
San Diego Gas and Electric Company [Member] | Deferred income taxes (refundable) recoverable in rates [Member] | |||
Schedule Of Net Regulatory Assets (Liabilities) [Line Items] | |||
Net regulatory assets (liabilities) | (236) | (281) | |
San Diego Gas and Electric Company [Member] | Pension and other postretirement benefit plan obligations [Member] | |||
Schedule Of Net Regulatory Assets (Liabilities) [Line Items] | |||
Net regulatory assets (liabilities) | 186 | 153 | |
San Diego Gas and Electric Company [Member] | Removal obligations [Member] | |||
Schedule Of Net Regulatory Assets (Liabilities) [Line Items] | |||
Net regulatory assets (liabilities) | (1,848) | (1,846) | |
San Diego Gas and Electric Company [Member] | Unamortized loss on reacquired debt [Member] | |||
Schedule Of Net Regulatory Assets (Liabilities) [Line Items] | |||
Net regulatory assets (liabilities) | $ 7 | 9 | |
San Diego Gas and Electric Company [Member] | Unamortized loss on reacquired debt [Member] | Minimum [Member] | |||
Schedule Of Net Regulatory Assets (Liabilities) [Line Items] | |||
Remaining amortization period | 1 year | ||
San Diego Gas and Electric Company [Member] | Unamortized loss on reacquired debt [Member] | Maximum [Member] | |||
Schedule Of Net Regulatory Assets (Liabilities) [Line Items] | |||
Remaining amortization period | 9 years | ||
San Diego Gas and Electric Company [Member] | Environmental costs [Member] | |||
Schedule Of Net Regulatory Assets (Liabilities) [Line Items] | |||
Net regulatory assets (liabilities) | $ 28 | 29 | |
San Diego Gas and Electric Company [Member] | Sunrise Powerlink fire mitigation [Member] | |||
Schedule Of Net Regulatory Assets (Liabilities) [Line Items] | |||
Net regulatory assets (liabilities) | $ 120 | 119 | |
Remaining amortization period | 51 | ||
San Diego Gas and Electric Company [Member] | Regulatory Balancing Accounts, Commodity – electric [Member] | |||
Schedule Of Net Regulatory Assets (Liabilities) [Line Items] | |||
Net regulatory assets (liabilities) | $ (8) | 82 | |
San Diego Gas and Electric Company [Member] | Regulatory Balancing Accounts, Gas transportation [Member] | |||
Schedule Of Net Regulatory Assets (Liabilities) [Line Items] | |||
Net regulatory assets (liabilities) | 45 | 22 | |
San Diego Gas and Electric Company [Member] | Regulatory Balancing Accounts, Safety and reliability [Member] | |||
Schedule Of Net Regulatory Assets (Liabilities) [Line Items] | |||
Net regulatory assets (liabilities) | 70 | 48 | |
San Diego Gas and Electric Company [Member] | Regulatory Balancing Accounts, Public purpose programs [Member] | |||
Schedule Of Net Regulatory Assets (Liabilities) [Line Items] | |||
Net regulatory assets (liabilities) | (62) | (70) | |
San Diego Gas and Electric Company [Member] | Regulatory Balancing Accounts, Other balancing accounts [Member] | |||
Schedule Of Net Regulatory Assets (Liabilities) [Line Items] | |||
Net regulatory assets (liabilities) | 145 | 233 | |
San Diego Gas and Electric Company [Member] | Other regulatory (liabilities) assets [Member] | |||
Schedule Of Net Regulatory Assets (Liabilities) [Line Items] | |||
Net regulatory assets (liabilities) | (177) | (70) | |
San Diego Gas and Electric Company [Member] | Net Regulatory Assets (Liabilities) SDGE [Member] | |||
Schedule Of Net Regulatory Assets (Liabilities) [Line Items] | |||
Net regulatory assets (liabilities) | (1,880) | (1,476) | |
Southern California Gas Company [Member] | |||
Schedule Of Net Regulatory Assets (Liabilities) [Line Items] | |||
Regulatory balancing accounts - net undercollected, Noncurrent | 185 | 118 | |
Amortization expense on regulatory assets | 3 | 1 | $ 2 |
Southern California Gas Company [Member] | Deferred income taxes (refundable) recoverable in rates [Member] | |||
Schedule Of Net Regulatory Assets (Liabilities) [Line Items] | |||
Net regulatory assets (liabilities) | (336) | (437) | |
Southern California Gas Company [Member] | Pension and other postretirement benefit plan obligations [Member] | |||
Schedule Of Net Regulatory Assets (Liabilities) [Line Items] | |||
Net regulatory assets (liabilities) | 470 | 513 | |
Southern California Gas Company [Member] | Employee benefit costs [Member] | |||
Schedule Of Net Regulatory Assets (Liabilities) [Line Items] | |||
Net regulatory assets (liabilities) | 49 | 45 | |
Southern California Gas Company [Member] | Removal obligations [Member] | |||
Schedule Of Net Regulatory Assets (Liabilities) [Line Items] | |||
Net regulatory assets (liabilities) | (833) | (924) | |
Southern California Gas Company [Member] | Unamortized loss on reacquired debt [Member] | |||
Schedule Of Net Regulatory Assets (Liabilities) [Line Items] | |||
Net regulatory assets (liabilities) | $ 7 | 8 | |
Southern California Gas Company [Member] | Unamortized loss on reacquired debt [Member] | Minimum [Member] | |||
Schedule Of Net Regulatory Assets (Liabilities) [Line Items] | |||
Remaining amortization period | 3 years | ||
Southern California Gas Company [Member] | Unamortized loss on reacquired debt [Member] | Maximum [Member] | |||
Schedule Of Net Regulatory Assets (Liabilities) [Line Items] | |||
Remaining amortization period | 7 years | ||
Southern California Gas Company [Member] | Environmental costs [Member] | |||
Schedule Of Net Regulatory Assets (Liabilities) [Line Items] | |||
Net regulatory assets (liabilities) | $ 28 | 22 | |
Southern California Gas Company [Member] | Workers’ compensation [Member] | |||
Schedule Of Net Regulatory Assets (Liabilities) [Line Items] | |||
Net regulatory assets (liabilities) | 9 | 12 | |
Southern California Gas Company [Member] | Regulatory Balancing Accounts, Commodity - gas including transportation | |||
Schedule Of Net Regulatory Assets (Liabilities) [Line Items] | |||
Net regulatory assets (liabilities) | 196 | 151 | |
Southern California Gas Company [Member] | Regulatory Balancing Accounts, Safety and reliability [Member] | |||
Schedule Of Net Regulatory Assets (Liabilities) [Line Items] | |||
Net regulatory assets (liabilities) | 332 | 266 | |
Southern California Gas Company [Member] | Regulatory Balancing Accounts, Public purpose programs [Member] | |||
Schedule Of Net Regulatory Assets (Liabilities) [Line Items] | |||
Net regulatory assets (liabilities) | (325) | (274) | |
Southern California Gas Company [Member] | Regulatory Balancing Accounts, Other balancing accounts [Member] | |||
Schedule Of Net Regulatory Assets (Liabilities) [Line Items] | |||
Net regulatory assets (liabilities) | (68) | (114) | |
Southern California Gas Company [Member] | Other regulatory (liabilities) assets [Member] | |||
Schedule Of Net Regulatory Assets (Liabilities) [Line Items] | |||
Net regulatory assets (liabilities) | (130) | (64) | |
Southern California Gas Company [Member] | Net Regulatory Assets (Liabilities) SoCalGas [Member] | |||
Schedule Of Net Regulatory Assets (Liabilities) [Line Items] | |||
Net regulatory assets (liabilities) | (601) | (796) | |
Sempra Mexico [Member] | Deferred income taxes (refundable) recoverable in rates [Member] | |||
Schedule Of Net Regulatory Assets (Liabilities) [Line Items] | |||
Net regulatory assets (liabilities) | 81 | 83 | |
Sempra Mexico [Member] | Other Regulatory Assets [Member] | |||
Schedule Of Net Regulatory Assets (Liabilities) [Line Items] | |||
Net regulatory assets (liabilities) | $ 6 | $ 0 |
REGULATORY MATTERS - GENERAL RA
REGULATORY MATTERS - GENERAL RATE CASE (Details) - USD ($) $ in Millions | Oct. 06, 2017 | Apr. 30, 2018 | Jun. 30, 2016 | Jun. 30, 2016 | Dec. 31, 2018 |
San Diego Gas and Electric Company [Member] | |||||
General Rate Case [Line Items] | |||||
GRC requested revenue requirement | $ 2,203 | $ 1,918 | |||
GRC revenue requirement decrease | $ 64 | ||||
GRC revenue requirement adjustment increase | 221 | ||||
Tax Cuts and Jobs Act, change in tax rate, change in revenue requirement | $ 58 | ||||
General rate case, proposed annual attrition percent | 4.00% | ||||
Adjustment to revenue related to tax repairs deductions, pre-tax | $ 52 | ||||
Adjustment to revenue related to tax repairs deductions, net of tax | 31 | ||||
San Diego Gas and Electric Company [Member] | Year 2016 [Member] | |||||
General Rate Case [Line Items] | |||||
GRC revenue requirement | $ 1,791 | ||||
San Diego Gas and Electric Company [Member] | General Rate Case [Member] | |||||
General Rate Case [Line Items] | |||||
Tracked income tax expense liability | 89 | ||||
San Diego Gas and Electric Company [Member] | Future Refund of Rates to Customers [Member] | |||||
General Rate Case [Line Items] | |||||
Regulatory liability | 75 | ||||
San Diego Gas and Electric Company [Member] | Future Refund of Rates to Customers - FERC [Member] | |||||
General Rate Case [Line Items] | |||||
Regulatory liability | 67 | ||||
Southern California Gas Company [Member] | |||||
General Rate Case [Line Items] | |||||
GRC requested revenue requirement | 2,937 | 2,695 | |||
GRC revenue requirement decrease | $ 239 | ||||
GRC revenue requirement adjustment increase | $ 481 | ||||
Tax Cuts and Jobs Act, change in tax rate, change in revenue requirement | $ 58 | ||||
Adjustment to revenue related to tax repairs deductions, pre-tax | 83 | ||||
Adjustment to revenue related to tax repairs deductions, net of tax | $ 49 | ||||
Southern California Gas Company [Member] | Year 2016 [Member] | |||||
General Rate Case [Line Items] | |||||
GRC revenue requirement | $ 2,204 | ||||
Southern California Gas Company [Member] | General Rate Case [Member] | |||||
General Rate Case [Line Items] | |||||
Tracked income tax expense liability | 94 | ||||
Southern California Gas Company [Member] | Future Refund of Rates to Customers [Member] | |||||
General Rate Case [Line Items] | |||||
Regulatory liability | $ 68 | ||||
Minimum [Member] | San Diego Gas and Electric Company [Member] | |||||
General Rate Case [Line Items] | |||||
GRC requested revenue requirement adjustment percentage | 5.00% | ||||
Minimum [Member] | Southern California Gas Company [Member] | |||||
General Rate Case [Line Items] | |||||
GRC requested revenue requirement adjustment percentage | 6.00% | ||||
General rate case, proposed annual attrition percent | 4.00% | ||||
Maximum [Member] | San Diego Gas and Electric Company [Member] | |||||
General Rate Case [Line Items] | |||||
GRC requested revenue requirement adjustment percentage | 7.00% | ||||
Maximum [Member] | Southern California Gas Company [Member] | |||||
General Rate Case [Line Items] | |||||
GRC requested revenue requirement adjustment percentage | 8.00% | ||||
General rate case, proposed annual attrition percent | 5.00% | ||||
Otay Mesa Energy Center [Member] | San Diego Gas and Electric Company [Member] | |||||
General Rate Case [Line Items] | |||||
Operating expenses | $ 68 |
REGULATORY MATTERS - COST OF CA
REGULATORY MATTERS - COST OF CAPITAL & FERC RATES (Details) - USD ($) $ in Millions | 12 Months Ended | 24 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | Jan. 01, 2019 | |
San Diego Gas and Electric Company [Member] | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Transmission owner, formula rate revenue requirement increase | $ 88 | |||
Transmission owner, formula rate revenue requirement increase percentage | 10.60% | |||
San Diego Gas and Electric Company [Member] | California Public Utilities Commission [Member] | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Weighted return on rate base | 7.79% | |||
Cost of debt | 5.00% | |||
San Diego Gas and Electric Company [Member] | Federal Energy Regulatory Commission [Member] | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Weighting | 100.00% | |||
Weighted return on rate base | 7.51% | |||
San Diego Gas and Electric Company [Member] | Scenario, Forecast [Member] | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Transmission owner, formula rate revenue requirement | $ 911 | |||
Minimum common equity ratio | 11.20% | |||
San Diego Gas and Electric Company [Member] | Scenario, Forecast [Member] | California Public Utilities Commission [Member] | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Weighted return on rate base | 7.55% | |||
Authorized weighting | 100.00% | |||
Cost of debt | 4.59% | |||
Change in cost of debt | (0.41%) | |||
Change in return on rate base | (0.24%) | |||
San Diego Gas and Electric Company [Member] | Capital Structure, Long Term Debt [Member] | Federal Energy Regulatory Commission [Member] | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Weighting | 43.44% | |||
Return on rate base | 4.21% | |||
Weighted return on rate base | 1.83% | |||
San Diego Gas and Electric Company [Member] | Capital Structure, Long Term Debt [Member] | Scenario, Forecast [Member] | California Public Utilities Commission [Member] | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Authorized weighting | 45.25% | |||
Return on rate base | 4.59% | |||
Weighted return on rate base | 2.08% | |||
San Diego Gas and Electric Company [Member] | Capital Structure, Preferred Stock [Member] | Scenario, Forecast [Member] | California Public Utilities Commission [Member] | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Authorized weighting | 2.75% | |||
Return on rate base | 6.22% | |||
Weighted return on rate base | 0.17% | |||
San Diego Gas and Electric Company [Member] | Capital Structure, Common Equity [Member] | Federal Energy Regulatory Commission [Member] | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Weighting | 56.56% | |||
Return on rate base | 10.05% | |||
Weighted return on rate base | 5.68% | |||
San Diego Gas and Electric Company [Member] | Capital Structure, Common Equity [Member] | Scenario, Forecast [Member] | California Public Utilities Commission [Member] | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Authorized weighting | 52.00% | |||
Return on rate base | 10.20% | |||
Weighted return on rate base | 5.30% | |||
Southern California Gas Company [Member] | California Public Utilities Commission [Member] | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Weighted return on rate base | 8.02% | |||
Cost of debt | 5.77% | |||
Southern California Gas Company [Member] | Scenario, Forecast [Member] | California Public Utilities Commission [Member] | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Weighted return on rate base | 7.34% | |||
Authorized weighting | 100.00% | |||
Cost of debt | 4.33% | |||
Change in cost of debt | (1.44%) | |||
Change in return on rate base | (0.68%) | |||
Southern California Gas Company [Member] | Capital Structure, Long Term Debt [Member] | Scenario, Forecast [Member] | California Public Utilities Commission [Member] | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Authorized weighting | 45.60% | |||
Return on rate base | 4.33% | |||
Weighted return on rate base | 1.97% | |||
Southern California Gas Company [Member] | Capital Structure, Preferred Stock [Member] | Scenario, Forecast [Member] | California Public Utilities Commission [Member] | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Authorized weighting | 2.40% | |||
Return on rate base | 6.00% | |||
Weighted return on rate base | 0.14% | |||
Southern California Gas Company [Member] | Capital Structure, Common Equity [Member] | Scenario, Forecast [Member] | California Public Utilities Commission [Member] | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Authorized weighting | 52.00% | |||
Return on rate base | 10.05% | |||
Weighted return on rate base | 5.23% | |||
Sempra Mexico [Member] | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Regulatory assets | $ 7 |
ACQUISTION AND DIVESTITURE AC_3
ACQUISTION AND DIVESTITURE ACTIVITY - Sempra Texas Utility (Details) - USD ($) $ in Millions | Jul. 13, 2018 | Mar. 09, 2018 | Mar. 08, 2018 | Jan. 12, 2018 | Jan. 09, 2018 | Jan. 31, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Business Acquisition [Line Items] | |||||||||||
Repayments of debt | $ 800 | $ 800 | |||||||||
Issuances of common stock, net of $41 in offering costs in 2018 | $ 2,272 | $ 47 | $ 51 | ||||||||
Oncor Holdings Electric Delivery Company LLC [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Acquired percentage interest | 80.25% | ||||||||||
Oncor Electric Delivery Company LLC [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Acquired percentage interest | 80.25% | ||||||||||
Sempra Texas Holdings Corp [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Proceeds from issuance of debt and equity | $ 7,000 | ||||||||||
Sempra Texas Holdings Corp [Member] | Oncor Electric Delivery Company LLC [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Acquired percentage interest | 80.03% | ||||||||||
Oncor Electric Delivery Company LLC [Member] | Oncor Electric Delivery Company LLC Additional Acquisition [Member] | Oncor Holdings Electric Delivery Company LLC [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Ownership percentage in consolidated entity | 0.22% | ||||||||||
Acquired percentage interest | 0.22% | ||||||||||
Consideration transferred | $ 26 | ||||||||||
Sempra Texas Intermediate Holding Company LLC [Member] | Sempra Texas Holdings Corp [Member] | Oncor Holdings Electric Delivery Company LLC [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Ownership percentage in consolidated entity | 100.00% | ||||||||||
Sempra Texas Intermediate Holding Company LLC [Member] | Oncor Electric Delivery Company LLC Additional Acquisition [Member] | Oncor Holdings Electric Delivery Company LLC [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Cash consideration (fair value of total consideration) | $ 26 | ||||||||||
Texas Transmission Investment LLC [Member] | Sempra Texas Holdings Corp [Member] | Oncor Electric Delivery Company LLC [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Ownership percentage held by noncontrolling owners | 19.75% | ||||||||||
Oncor Holdings Electric Delivery Company LLC [Member] | Sempra Texas Holdings Corp [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Cash consideration (fair value of total consideration) | $ 9,450 | ||||||||||
Additional consideration transfered | 31 | ||||||||||
Transaction costs incurred | $ 59 | ||||||||||
Common Stock [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Shares issued (in shares) | 11,212,500 | 8,556,630 | 26,869,158 | 7,651,671 | 8,556,630 | ||||||
Settlement of Forward Sale Contracts [Member] | Common Stock [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Issuances of common stock, net of $41 in offering costs in 2018 | $ 900 | $ 800 | $ 900 | ||||||||
Payments of stock issuance costs | 16 | ||||||||||
Commercial paper [Member] | Oncor Holdings Electric Delivery Company LLC [Member] | Sempra Texas Holdings Corp [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Proceeds from issuance of debt | $ 2,600 | ||||||||||
Weighted average term, of line of credit | 47 days | ||||||||||
Weighted average rate | 2.20% |
ACQUISTION AND DIVESTITURE AC_4
ACQUISTION AND DIVESTITURE ACTIVITY - ASSETS ACQUIRED AND LIABILITIES ASSUMED (Details) - USD ($) $ in Millions | Dec. 18, 2018 | Mar. 09, 2018 | Dec. 14, 2016 | Sep. 26, 2016 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Business Acquisition [Line Items] | ||||||||||
Fair value of equity interest in IEnova Pipelines immediately prior to acquisition | $ 0 | $ 28 | $ 1,144 | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract] | ||||||||||
Goodwill | $ 2,373 | $ 2,397 | $ 2,364 | 2,373 | 2,397 | 2,364 | ||||
Acquisition of business – measurement period adjustment | $ (13) | |||||||||
Compania Transmisora del Norte Grande S.A. [Member] | ||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract] | ||||||||||
Cash and cash equivalents | $ 18 | |||||||||
Other current assets | 5 | |||||||||
Other intangible assets | 46 | |||||||||
Property, plant and equipment | 162 | |||||||||
Total assets acquired | 231 | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract] | ||||||||||
Other current liabilities | 1 | |||||||||
Deferred income taxes | 42 | |||||||||
Total liabilities assumed | 43 | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 188 | |||||||||
Goodwill | 38 | |||||||||
Consideration transferred | $ 226 | |||||||||
Oncor Holdings Electric Delivery Company LLC [Member] | ||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract] | ||||||||||
Accounts receivable | $ 1 | |||||||||
Due from unconsolidated affiliates | 46 | |||||||||
Investment in Oncor Holdings | 9,227 | |||||||||
Deferred income taxes | 287 | |||||||||
Other noncurrent assets | 109 | |||||||||
Total assets acquired | 9,670 | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract] | ||||||||||
Other current liabilities | 23 | |||||||||
Pension and other postretirement benefit plan obligations | 21 | |||||||||
Deferred credits and other | 58 | |||||||||
Total liabilities assumed | 102 | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 9,568 | |||||||||
Consideration transferred | $ 9,568 | |||||||||
Oncor Holdings Electric Delivery Company LLC [Member] | Scenario, Adjustment [Member] | ||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract] | ||||||||||
Investment in Oncor Holdings | 64 | 64 | ||||||||
Deferred income taxes | 66 | 66 | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract] | ||||||||||
Deferred credits and other | 2 | 2 | ||||||||
Consideration transferred | 2 | |||||||||
Sempra Mexico [Member] | IEnova Pipelines [Member] | ||||||||||
Business Acquisition [Line Items] | ||||||||||
Cash consideration (fair value of total consideration) | $ 1,144 | |||||||||
Fair value of equity interest in IEnova Pipelines immediately prior to acquisition | 1,144 | |||||||||
Total fair value of business combination | 2,288 | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract] | ||||||||||
Cash and cash equivalents | 66 | |||||||||
Restricted cash | 0 | |||||||||
Accounts receivable | 39 | |||||||||
Other current assets | 6 | |||||||||
Other intangible assets | 0 | |||||||||
Deferred income taxes | 0 | |||||||||
Regulatory assets | 33 | |||||||||
Property, plant and equipment | 1,248 | |||||||||
Other noncurrent assets | 1 | |||||||||
Total assets acquired | 1,393 | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract] | ||||||||||
Short-term debt | 0 | |||||||||
Accounts payable | 11 | |||||||||
Due to unconsolidated affiliates | 3 | |||||||||
Current portion of long-term debt | 49 | |||||||||
Fixed-price contracts and other derivatives, current | 6 | |||||||||
Other current liabilities | 20 | |||||||||
Long-term debt | 315 | |||||||||
Asset retirement obligations | 5 | |||||||||
Deferred income taxes | 127 | |||||||||
Fixed-price contracts and other derivatives, noncurrent | 19 | |||||||||
Other noncurrent liabilities | 11 | |||||||||
Total liabilities assumed | 566 | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 827 | |||||||||
Goodwill | $ 1,461 | |||||||||
Sempra Mexico [Member] | IEnova Pipelines [Member] | Scenario, Adjustment [Member] | ||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract] | ||||||||||
Regulatory assets | 33 | 33 | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract] | ||||||||||
Deferred income taxes | 119 | $ 119 | ||||||||
Acquisition of business – measurement period adjustment | $ 86 | |||||||||
Sempra Mexico [Member] | Ventika [Member] | ||||||||||
Business Acquisition [Line Items] | ||||||||||
Cash consideration (fair value of total consideration) | $ 310 | |||||||||
Fair value of equity interest in IEnova Pipelines immediately prior to acquisition | 0 | |||||||||
Total fair value of business combination | 310 | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract] | ||||||||||
Cash and cash equivalents | 0 | |||||||||
Restricted cash | 68 | |||||||||
Accounts receivable | 14 | |||||||||
Other current assets | 1 | |||||||||
Other intangible assets | 154 | |||||||||
Deferred income taxes | 36 | |||||||||
Regulatory assets | 0 | |||||||||
Property, plant and equipment | 673 | |||||||||
Other noncurrent assets | 3 | |||||||||
Total assets acquired | 949 | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract] | ||||||||||
Short-term debt | 125 | |||||||||
Accounts payable | 1 | |||||||||
Due to unconsolidated affiliates | 0 | |||||||||
Current portion of long-term debt | 7 | |||||||||
Fixed-price contracts and other derivatives, current | 4 | |||||||||
Other current liabilities | 8 | |||||||||
Long-term debt | 478 | |||||||||
Asset retirement obligations | 2 | |||||||||
Deferred income taxes | 120 | |||||||||
Fixed-price contracts and other derivatives, noncurrent | 10 | |||||||||
Other noncurrent liabilities | 0 | |||||||||
Total liabilities assumed | 755 | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 194 | |||||||||
Goodwill | $ 116 | |||||||||
Sempra Mexico [Member] | Ventika [Member] | Scenario, Adjustment [Member] | ||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract] | ||||||||||
Deferred income taxes | $ 13 | $ 13 | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract] | ||||||||||
Acquisition of business – measurement period adjustment | $ (13) |
ACQUISTION AND DIVESTITURE AC_5
ACQUISTION AND DIVESTITURE ACTIVITY - Sempra South American Utilities (Details) $ in Millions | Dec. 31, 2018USD ($) | Dec. 18, 2018USD ($)kv |
Compania Transmisora del Norte Grande S.A. [Member] | ||
Business Acquisition [Line Items] | ||
Consideration transferred | $ 226 | |
Cash and cash equivalents | 18 | |
Revenue since date of acquisition | $ 1 | |
Compania Transmisora del Norte Grande S.A. [Member] | ||
Business Acquisition [Line Items] | ||
Consideration transferred | 226 | |
Cash consideration (fair value of total consideration) | 208 | |
Cash and cash equivalents | $ 18 | |
Compania Transmisora del Norte Grande S.A. [Member] | Sempra South American Utilities [Member] | Compania Transmisora del Norte Grande S.A. [Member] | ||
Business Acquisition [Line Items] | ||
Acquired percentage interest | 100.00% | |
Single-circuit Transmission Line [Member] | Sempra South American Utilities [Member] | Companía Transmisora del Norte Grande S.A. [Member] | ||
Business Acquisition [Line Items] | ||
Energy transmission voltage | kv | 110 | |
Double-circuit Transmission Line [Member] | Sempra South American Utilities [Member] | Companía Transmisora del Norte Grande S.A. [Member] | ||
Business Acquisition [Line Items] | ||
Energy transmission voltage | kv | 220 |
ACQUISTION AND DIVESTITURE AC_6
ACQUISTION AND DIVESTITURE ACTIVITY - PRO FORMA INFORMATION (Details) - Compania Transmisora del Norte Grande S.A. [Member] - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Business Acquisition [Line Items] | ||
Revenues | $ 11,703 | $ 11,224 |
Net income | 1,130 | 356 |
Earnings | $ 928 | $ 261 |
ACQUISTION AND DIVESTITURE AC_7
ACQUISTION AND DIVESTITURE ACTIVITY - Sempra Mexico (Details) bbl in Thousands, $ in Millions | Feb. 28, 2018USD ($)MW | Nov. 15, 2017USD ($) | Dec. 14, 2016USD ($)MW | Oct. 13, 2016USD ($) | Sep. 26, 2016USD ($) | Dec. 31, 2018USD ($) | Sep. 30, 2018USD ($) | Jun. 30, 2018USD ($) | Mar. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Sep. 30, 2017USD ($) | Jun. 30, 2017USD ($) | Mar. 31, 2017USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Sep. 26, 2018USD ($)bbl | Nov. 14, 2017 | Sep. 25, 2016 | ||
Business Acquisition [Line Items] | |||||||||||||||||||||
Issuances of common stock, net of $41 in offering costs in 2018 | $ 2,272 | $ 47 | $ 51 | ||||||||||||||||||
Cash paid, net of cash and cash equivalents acquired | (9,776) | (147) | (1,342) | ||||||||||||||||||
Revenues | $ 3,221 | $ 2,940 | $ 2,564 | $ 2,962 | $ 2,964 | $ 2,679 | $ 2,533 | $ 3,031 | 11,687 | 11,207 | [1] | 10,183 | [1] | ||||||||
Earnings attributable to common shares | 864 | $ 274 | $ (561) | $ 347 | (501) | $ 57 | $ 259 | $ 441 | |||||||||||||
Restricted cash | $ 56 | $ 76 | $ 56 | $ 76 | |||||||||||||||||
Sempra Mexico [Member] | Trafigura Mexico, S.A. de C.V. Subsidiary [Member] | |||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||
Maximum ownership percentage available | 82.50% | ||||||||||||||||||||
Ownership percentage held by noncontrolling owners | 49.00% | ||||||||||||||||||||
Terminal Services Agreement, percent of terminal capacity | 50.00% | ||||||||||||||||||||
Terminal storage capacity | bbl | 1,480 | ||||||||||||||||||||
Acquired percentage interest | 51.00% | ||||||||||||||||||||
Sempra Mexico [Member] | Fisterra Midstream Mexico [Member] | |||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||
Commitment to invest | $ 130 | ||||||||||||||||||||
Cash consideration (fair value of total consideration) | $ 5 | ||||||||||||||||||||
Generating capacity (in mw) | MW | 125 | ||||||||||||||||||||
Power purchase agreement term | 15 years | ||||||||||||||||||||
Sempra Mexico [Member] | Gasoductos De Chihuahua [Member] | |||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||
Cash consideration (fair value of total consideration) | $ 1,144 | ||||||||||||||||||||
Cash and cash equivalents | 66 | ||||||||||||||||||||
Other intangible assets | 0 | ||||||||||||||||||||
Sempra Mexico [Member] | Ventika Wind Power Generation Facilities [Member] | |||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||
Cash consideration (fair value of total consideration) | $ 310 | ||||||||||||||||||||
Cash and cash equivalents | 0 | ||||||||||||||||||||
Other intangible assets | $ 154 | ||||||||||||||||||||
Minimum [Member] | Sempra Mexico [Member] | Trafigura Mexico, S.A. de C.V. Subsidiary [Member] | |||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||
Commitment to invest | $ 102 | ||||||||||||||||||||
Maximum [Member] | Sempra Mexico [Member] | Trafigura Mexico, S.A. de C.V. Subsidiary [Member] | |||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||
Commitment to invest | $ 165 | ||||||||||||||||||||
IEnova [Member] | |||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||
Cash consideration (fair value of total consideration) | $ 351 | ||||||||||||||||||||
IEnova [Member] | Ventika Wind Power Generation Facilities [Member] | |||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||
Cash consideration (fair value of total consideration) | $ 50 | ||||||||||||||||||||
IEnova [Member] | Sempra Mexico [Member] | |||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||
Ownership percentage held by noncontrolling owners | 33.50% | 33.60% | 33.50% | 33.60% | |||||||||||||||||
IEnova [Member] | Sempra Mexico [Member] | Ductos Energéticos del Norte [Member] | |||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||
Ownership percentage before acquisition | 50.00% | ||||||||||||||||||||
Cash paid, net of cash and cash equivalents acquired | $ 165 | ||||||||||||||||||||
Cash acquired from acquisition | 18 | ||||||||||||||||||||
Debt assumed | $ 96 | ||||||||||||||||||||
Ownership percentage in consolidated entity | 100.00% | ||||||||||||||||||||
Ownership percentage in equity method investee | 50.00% | ||||||||||||||||||||
Other intangible assets | $ 66 | ||||||||||||||||||||
Weighted average life of finite-lived intangible acquired | 23 years | ||||||||||||||||||||
Acquired percentage interest | 50.00% | ||||||||||||||||||||
IEnova [Member] | Sempra Mexico [Member] | Gasoductos De Chihuahua [Member] | |||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||
Cash consideration (fair value of total consideration) | 1,144 | ||||||||||||||||||||
Cash and cash equivalents | 66 | ||||||||||||||||||||
Ownership percentage before acquisition | 50.00% | ||||||||||||||||||||
Cash paid, net of cash and cash equivalents acquired | 1,078 | ||||||||||||||||||||
Debt assumed | $ 364 | ||||||||||||||||||||
Ownership percentage in consolidated entity | 100.00% | ||||||||||||||||||||
Proceeds from debt issued | $ 1,150 | ||||||||||||||||||||
Gain on acquisition of remaining voting rights | 617 | ||||||||||||||||||||
Gain on acquisition of remaining voting rights, net of tax | 432 | ||||||||||||||||||||
Accrued Merger-related transaction costs | 4 | ||||||||||||||||||||
Revenues | 82 | ||||||||||||||||||||
Earnings attributable to common shares | 33 | ||||||||||||||||||||
Acquired percentage interest | 50.00% | ||||||||||||||||||||
IEnova [Member] | Sempra Mexico [Member] | Ventika Wind Power Generation Facilities [Member] | |||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||
Generating capacity (in mw) | MW | 252 | ||||||||||||||||||||
Power purchase agreement term | 20 years | ||||||||||||||||||||
Issuances of common stock, net of $41 in offering costs in 2018 | $ 50 | ||||||||||||||||||||
Debt assumed | 610 | ||||||||||||||||||||
Proceeds from debt issued | $ 250 | ||||||||||||||||||||
Accrued Merger-related transaction costs | 1 | ||||||||||||||||||||
Revenues | 4 | ||||||||||||||||||||
Earnings attributable to common shares | $ 3 | ||||||||||||||||||||
Acquired percentage interest | 100.00% | ||||||||||||||||||||
Consideration transferred | $ 310 | ||||||||||||||||||||
Cash | 10 | ||||||||||||||||||||
Restricted cash | $ 68 | ||||||||||||||||||||
Ramones Norte Pipeline [Member] | IEnova [Member] | Sempra Mexico [Member] | |||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||
Ownership percentage in equity method investee | 25.00% | ||||||||||||||||||||
Ramones Norte Pipeline [Member] | IEnova [Member] | Sempra Mexico [Member] | Ductos Energéticos del Norte [Member] | |||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||
Ownership percentage before acquisition | 50.00% | 25.00% | |||||||||||||||||||
Ownership percentage in consolidated entity | 50.00% | ||||||||||||||||||||
Renewable energy and consumption permit [Member] | IEnova [Member] | Sempra Mexico [Member] | Ventika Wind Power Generation Facilities [Member] | |||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||
Weighted average life of finite-lived intangible acquired | 19 years | ||||||||||||||||||||
[1] | As adjusted for the retrospective adoption of ASU 2017-07, which we discuss in Note 2 , and a reclassification to conform to current year presentation, which we discuss in Note 1 |
ACQUISTION AND DIVESTITURE AC_8
ACQUISTION AND DIVESTITURE ACTIVITY - Sempra Renewables (Details) - Sempra Renewables [Member] $ in Millions | Jul. 10, 2017USD ($) | Jul. 01, 2016USD ($)MW | Dec. 31, 2016USD ($) |
Great Valley Solar [Member] | |||
Business Acquisition [Line Items] | |||
Cash consideration (fair value of total consideration) | $ 124 | ||
Huron County, Michigan [Member] | |||
Business Acquisition [Line Items] | |||
Cash consideration (fair value of total consideration) | $ 18 | $ 4 | |
Ownership percentage in consolidated entity | 100.00% | ||
Generating capacity (in mw) | MW | 100 | ||
Power purchase agreement term | 15 years | ||
Consideration transferred | $ 22 |
ACQUISTION AND DIVESTITURE AC_9
ACQUISTION AND DIVESTITURE ACTIVITY - Sempra Energy (Details) - USD ($) $ / shares in Units, $ in Millions | Oct. 18, 2018 | Dec. 18, 2018 |
Sharyland Holdings, LP [Member] | ||
Business Acquisition [Line Items] | ||
Commitment to invest | $ 1,025 | |
Sempra Texas Utility [Member] | InfraREIT Acquisition [Member] | ||
Business Acquisition [Line Items] | ||
Consideration transferred | $ 1,275 | |
Share price (USD per share) | $ 21 | |
Management agreement termination fee | $ 40 | |
Debt assumed | $ 945 | |
Sempra Texas Utility [Member] | Sharyland Holdings, LP [Member] | ||
Business Acquisition [Line Items] | ||
Acquired percentage interest | 50.00% | |
Consideration transferred | $ 98 | |
Sempra Texas Utility [Member] | InfraREIT [Member] | InfraREIT Acquisition [Member] | ||
Business Acquisition [Line Items] | ||
Acquired percentage interest | 100.00% | |
Sempra Texas Utility [Member] | InfraREIT Partners [Member] | InfraREIT Acquisition [Member] | ||
Business Acquisition [Line Items] | ||
Acquired percentage interest | 100.00% | |
Sempra Texas Utility [Member] | Sharyland Utilities [Member] | Sharyland Holdings, LP [Member] | ||
Business Acquisition [Line Items] | ||
Acquired percentage interest | 100.00% | |
Ownership percentage in consolidated entity | 50.00% | |
Disposal Group Held-for-sale [Member] | Solar Assets and One Wind Generation Facility [Member] | Sempra Renewables [Member] | ||
Business Acquisition [Line Items] | ||
Proceeds from sale | $ 1,600 |
ACQUISTION AND DIVESTITURE A_10
ACQUISTION AND DIVESTITURE ACTIVITY - ASSETS HELD FOR SALE (Details) | Jun. 25, 2018USD ($) | Dec. 31, 2018USD ($) | Jun. 30, 2018USD ($) | Jun. 30, 2017USD ($) | Feb. 29, 2016MW | Jun. 30, 2017USD ($) | Sep. 30, 2016USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Feb. 28, 2019USD ($) | Feb. 07, 2019USD ($) | Feb. 06, 2019USD ($) | Jan. 01, 2019USD ($) |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||||||||
Equity method investment | $ 9,652,000,000 | $ 9,652,000,000 | $ 0 | |||||||||||
Disposal Group Held-for-sale [Member] | ||||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||||||||
Asset impairment charges | $ (1,500,000,000) | |||||||||||||
Asset impairment charges, net of taxes and noncontrolling interests | (900,000,000) | |||||||||||||
Sempra Mexico [Member] | Termoelectrica de Mexicali [Member] | ||||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||||||||
Generating capacity (in mw) | MW | 625 | |||||||||||||
Other than temporary impairment in investment | $ 71,000,000 | $ 71,000,000 | $ 131,000,000 | |||||||||||
Other than temporary impairment in investment, net of tax | $ 111,000,000 | |||||||||||||
Deferred tax expense | $ (8,000,000) | $ 8,000,000 | ||||||||||||
Sempra LNG & Midstream [Member] | Disposal Group Held-for-sale [Member] | ||||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||||||||
Asset impairment charges | 183,000,000 | (1,300,000,000) | (1,100,000,000) | |||||||||||
Asset impairment charges, net of taxes and noncontrolling interests | 126,000,000 | (755,000,000) | (629,000,000) | |||||||||||
Proceeds from sale | 5,000,000 | 5,000,000 | ||||||||||||
Sempra LNG & Midstream [Member] | Disposal Group Held-for-sale [Member] | Non-utility Natural gas Storage Assets [Member] | ||||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||||||||
Asset impairment charges | $ (1,300,000,000) | |||||||||||||
Asset impairment charges, net of taxes and noncontrolling interests | $ (755,000,000) | |||||||||||||
Assets Held for Sale, Assets [Abstract] | ||||||||||||||
Cash | 0 | 0 | ||||||||||||
Accounts receivable – trade, net | 5,000,000 | 5,000,000 | ||||||||||||
Accounts receivable – other, net | 0 | 0 | ||||||||||||
Other current assets | 6,000,000 | 6,000,000 | ||||||||||||
Property, plant and equipment, net | 324,000,000 | 324,000,000 | ||||||||||||
Other noncurrent assets | 1,000,000 | 1,000,000 | ||||||||||||
Total assets held for sale | 336,000,000 | 336,000,000 | ||||||||||||
Assets Held for Sale, Liabilities [Abstract] | ||||||||||||||
Accounts payable | 2,000,000 | 2,000,000 | ||||||||||||
Other current liabilities | 3,000,000 | 3,000,000 | ||||||||||||
Asset retirement obligations | 8,000,000 | 8,000,000 | ||||||||||||
Total liabilities held for sale | 13,000,000 | 13,000,000 | ||||||||||||
Sempra Renewables [Member] | Wind Investments [Member] | ||||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||||||||
Equity method investment | 291,000,000 | 291,000,000 | ||||||||||||
Sempra Renewables [Member] | Disposal Group Held-for-sale [Member] | ||||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||||||||
Asset impairment charges | (200,000,000) | |||||||||||||
Asset impairment charges, net of taxes and noncontrolling interests | $ (145,000,000) | |||||||||||||
Sempra Renewables [Member] | Disposal Group Held-for-sale [Member] | Wind and Solar Investments [Member] | ||||||||||||||
Assets Held for Sale, Assets [Abstract] | ||||||||||||||
Cash | 7,000,000 | 7,000,000 | ||||||||||||
Accounts receivable – trade, net | 2,000,000 | 2,000,000 | ||||||||||||
Accounts receivable – other, net | 1,000,000 | 1,000,000 | ||||||||||||
Other current assets | 1,000,000 | 1,000,000 | ||||||||||||
Property, plant and equipment, net | 366,000,000 | 366,000,000 | ||||||||||||
Other noncurrent assets | 0 | 0 | ||||||||||||
Total assets held for sale | 377,000,000 | 377,000,000 | ||||||||||||
Assets Held for Sale, Liabilities [Abstract] | ||||||||||||||
Accounts payable | 2,000,000 | 2,000,000 | ||||||||||||
Other current liabilities | 4,000,000 | 4,000,000 | ||||||||||||
Asset retirement obligations | 6,000,000 | 6,000,000 | ||||||||||||
Total liabilities held for sale | 12,000,000 | 12,000,000 | ||||||||||||
Sempra Renewables [Member] | Disposal Group Held-for-sale [Member] | Wind Investments [Member] | ||||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||||||||
Asset impairment charges, net of taxes and noncontrolling interests | (145,000,000) | |||||||||||||
Noncontrolling Tax Equity Investors, Wind [Member] | Subsequent Event [Member] | Disposal Group Disposed of by Sale [Member] | Sempra Renewables [Member] | ||||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||||||||
Proceeds from sale | $ 551,000,000 | |||||||||||||
Sempra LNG & Midstream [Member] | Disposal Group Disposed of by Sale [Member] | Mississippi Hub And Bay Gas [Member] | ||||||||||||||
Assets Held for Sale, Assets [Abstract] | ||||||||||||||
Total assets held for sale | $ 323,000,000 | $ 323,000,000 | ||||||||||||
Sempra LNG & Midstream [Member] | Subsequent Event [Member] | Disposal Group Disposed of by Sale [Member] | Mississippi Hub And Bay Gas [Member] | ||||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||||||||
Proceeds from sale | $ 328,000,000 | $ 332,000,000 | ||||||||||||
Bay Gas [Member] | Sempra LNG & Midstream [Member] | Subsequent Event [Member] | ||||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||||||||
Equity method investment | $ 20,000,000 | |||||||||||||
Ownership percentage in equity method investee | 9.10% |
ACQUISTION AND DIVESTITURE A_11
ACQUISTION AND DIVESTITURE ACTIVITY - DIVESTITURES (Details) - USD ($) $ in Millions | Dec. 13, 2018 | Sep. 12, 2016 | Sep. 30, 2016 | May 31, 2016 | Mar. 31, 2016 | Sep. 30, 2016 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | May 09, 2016 | Mar. 29, 2016 |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||
Goodwill | $ (2,373) | $ (2,397) | $ (2,364) | ||||||||
Current liabilities | 25 | 49 | |||||||||
Gain (loss) on deconsolidation | $ 367 | ||||||||||
Liabilities assumed | 145 | 261 | $ 1,322 | ||||||||
Equity method investment | $ 9,652 | $ 0 | |||||||||
Disposal Group Disposed of by Sale [Member] | Certain Subsidiaries Of Sempra Renewables [Member] | |||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||
Proceeds from sale, net of transaction costs | 1,585 | ||||||||||
Cash | (7) | ||||||||||
Restricted cash | (7) | ||||||||||
Other current assets | (14) | ||||||||||
Property, plant and equipment, net | (1,303) | ||||||||||
Other investments | (329) | ||||||||||
Goodwill | 0 | ||||||||||
Other noncurrent assets | (24) | ||||||||||
Current liabilities | 8 | ||||||||||
Long-term debt | 70 | ||||||||||
Asset retirement obligations | 52 | ||||||||||
Other noncurrent liabilities | 5 | ||||||||||
Noncontrolling interests | 486 | ||||||||||
Accumulated other comprehensive income | (9) | ||||||||||
Gain on sale of equity interests | 513 | ||||||||||
Proceeds from sale | $ 1,600 | ||||||||||
Disposal Group Disposed of by Sale [Member] | Energy South [Member] | |||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||
Proceeds from sale, net of transaction costs | $ 304 | ||||||||||
Cash | (2) | ||||||||||
Restricted cash | 0 | ||||||||||
Other current assets | (17) | ||||||||||
Property, plant and equipment, net | (199) | ||||||||||
Other investments | 0 | ||||||||||
Goodwill | (72) | ||||||||||
Other noncurrent assets | (65) | ||||||||||
Current liabilities | 25 | ||||||||||
Long-term debt | 67 | ||||||||||
Asset retirement obligations | 0 | ||||||||||
Other noncurrent liabilities | 89 | ||||||||||
Noncontrolling interests | 0 | ||||||||||
Accumulated other comprehensive income | 0 | ||||||||||
Gain on sale of equity interests | 130 | ||||||||||
Sempra LNG & Midstream [Member] | Disposal Group Disposed of by Sale [Member] | Energy South [Member] | |||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||
Cash | (2) | ||||||||||
Gain on sale of equity interests | $ 130 | ||||||||||
Proceeds from sale | $ 318 | ||||||||||
Liabilities assumed | 67 | ||||||||||
Gain on sale of assets, after tax | $ 78 | ||||||||||
Sempra LNG & Midstream [Member] | Rockies Express [Member] | |||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||
Ownership percentage in equity method investee | 25.00% | 25.00% | 25.00% | 25.00% | |||||||
Proceeds from sale of investments | $ 443 | $ 440 | |||||||||
Equity method investment | 484 | ||||||||||
Fair value of investment | 440 | ||||||||||
Other than temporary impairment in investment | 44 | $ 44 | |||||||||
Other than temporary impairment in investment, net of tax | $ 27 | $ 27 |
INVESTMENTS IN UNCONSOLIDATED_3
INVESTMENTS IN UNCONSOLIDATED ENTITIES - SUMMARY OF INVESTMENTS (Details) - USD ($) $ in Millions | 1 Months Ended | 12 Months Ended | ||||
Sep. 30, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity method investment | $ 9,652 | $ 0 | ||||
Other investments | 2,337 | 2,527 | ||||
Goodwill | 2,373 | 2,397 | $ 2,364 | |||
Equity earnings, before income tax | (236) | 34 | 6 | |||
Equity earnings (losses), net of tax | 412 | 42 | 78 | |||
Total equity earnings | 176 | 76 | [1] | 84 | [1] | |
Cameron LNG Holdings [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Difference between carrying amount of equity method investment and underlying equity | 284 | 237 | ||||
R B S Sempra Commodities [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Other than temporary impairment | $ 65 | |||||
Other Equity Method Investments [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Other investments | 2,326 | 2,517 | ||||
Other Equity Method Investments [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Other investments | $ 11 | $ 10 | ||||
Sempra Texas Intermediate Holding Company LLC [Member] | Oncor Holdings Electric Delivery Company LLC [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership percentage in equity method investee | 100.00% | 0.00% | ||||
Equity method investment | $ 9,652 | $ 0 | ||||
Difference between carrying amount of equity method investment and underlying equity | 2,814 | |||||
Equity method investment, difference between carrying amount and underlying equity, aoci | 69 | |||||
Equity method investment, difference between carrying amount and underlying equity, tax sharing liability | 123 | |||||
Equity earnings (losses), net of tax | $ 371 | $ 0 | 0 | |||
Sempra South American Utilities [Member] | Eletrans [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership percentage in equity method investee | 50.00% | 50.00% | ||||
Other investments | $ 17 | $ 16 | ||||
Equity earnings (losses), net of tax | $ 1 | $ 4 | 3 | |||
Sempra Renewables [Member] | California Solar Partnership [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership percentage in equity method investee | 0.00% | 50.00% | ||||
Other investments | $ 0 | $ 107 | ||||
Equity earnings, before income tax | $ 8 | $ 7 | 7 | |||
Sempra Renewables [Member] | Copper Mountain Solar 3 [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership percentage in equity method investee | 0.00% | 50.00% | ||||
Other investments | $ 0 | $ 44 | ||||
Equity earnings, before income tax | $ 8 | $ 8 | 8 | |||
Sempra Renewables [Member] | Broken Bow 2 Wind [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership percentage in equity method investee | 0.00% | 50.00% | ||||
Other investments | $ 0 | $ 32 | ||||
Equity earnings, before income tax | $ (2) | $ (2) | (2) | |||
Sempra Renewables [Member] | Cedar Creek 2 Wind Farm [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership percentage in equity method investee | 50.00% | 50.00% | ||||
Other investments | $ 69 | $ 72 | ||||
Equity earnings, before income tax | $ (1) | $ (2) | (2) | |||
Sempra Renewables [Member] | Flat Ridge 2 Wind Farm [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership percentage in equity method investee | 50.00% | 50.00% | ||||
Other investments | $ 82 | $ 255 | ||||
Other than temporary impairment in investment | 169 | |||||
Equity earnings, before income tax | $ (178) | $ (13) | (7) | |||
Sempra Renewables [Member] | Fowler Ridge 2 Wind Farm [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership percentage in equity method investee | 50.00% | 50.00% | ||||
Other investments | $ 45 | $ 44 | ||||
Equity earnings, before income tax | $ 3 | $ 4 | 4 | |||
Sempra Renewables [Member] | Mehoopany Wind Farm [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership percentage in equity method investee | 50.00% | 50.00% | ||||
Other investments | $ 57 | $ 89 | ||||
Other than temporary impairment in investment | 31 | |||||
Equity earnings, before income tax | $ (30) | $ (1) | 0 | |||
Sempra Renewables [Member] | Copper Mountain Solar 2 [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership percentage in equity method investee | 0.00% | 50.00% | ||||
Other investments | $ 0 | $ 35 | ||||
Equity earnings, before income tax | $ 5 | $ 5 | 6 | |||
Sempra Renewables [Member] | Mesquite Solar 1 [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership percentage in equity method investee | 0.00% | 50.00% | ||||
Other investments | $ 0 | $ 81 | ||||
Equity earnings, before income tax | $ 18 | $ 18 | 17 | |||
Sempra Renewables [Member] | Auwahi Wind [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership percentage in equity method investee | 50.00% | 50.00% | ||||
Other investments | $ 38 | $ 42 | ||||
Equity earnings, before income tax | 3 | 5 | 4 | |||
Sempra Renewables [Member] | Other Equity Method Investments [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Other investments | 0 | 12 | ||||
Equity earnings, before income tax | $ (3) | $ 0 | (1) | |||
Sempra LNG & Midstream [Member] | Cameron LNG Holdings [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership percentage in equity method investee | 50.20% | 50.20% | ||||
Other investments | $ 1,271 | $ 997 | ||||
Equity earnings, before income tax | 0 | 5 | (2) | |||
Sempra LNG & Midstream [Member] | Rockies Express [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity earnings, before income tax | $ 0 | $ 0 | (26) | |||
Sempra Energy and Other [Member] | R B S Sempra Commodities [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership percentage in equity method investee | 49.00% | 49.00% | ||||
Other investments | $ 0 | $ 67 | ||||
Equity earnings, before income tax | (67) | 0 | 0 | |||
Sempra Mexico [Member] | Ductos Energéticos del Norte [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity earnings (losses), net of tax | $ 0 | $ (13) | 5 | |||
Sempra Mexico [Member] | Energia Sierra Juarez Wind Project [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership percentage in equity method investee | 50.00% | 50.00% | ||||
Other investments | $ 43 | $ 39 | ||||
Difference between carrying amount of equity method investment and underlying equity | 12 | |||||
Equity earnings (losses), net of tax | 2 | 0 | 6 | |||
Sempra Mexico [Member] | IEnova Pipelines [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity earnings (losses), net of tax | $ 0 | $ 0 | 64 | |||
Sempra Mexico [Member] | IMG [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership percentage in equity method investee | 40.00% | 40.00% | ||||
Other investments | $ 328 | $ 221 | ||||
Difference between carrying amount of equity method investment and underlying equity | 5 | |||||
Equity earnings (losses), net of tax | $ 29 | $ 45 | 0 | |||
Sempra Mexico [Member] | TAG [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership percentage in equity method investee | 50.00% | 50.00% | ||||
Other investments | $ 376 | $ 364 | ||||
Difference between carrying amount of equity method investment and underlying equity | 130 | |||||
Equity earnings (losses), net of tax | 9 | $ 6 | $ 0 | |||
Sempra Texas Holdings Corp [Member] | Oncor Holdings Electric Delivery Company LLC [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Goodwill | $ 2,868 | |||||
[1] | As adjusted for the retrospective adoption of ASU 2017-07, which we discuss in Note 2 , and a reclassification to conform to current year presentation, which we discuss in Note 1 |
INVESTMENTS IN UNCONSOLIDATED_4
INVESTMENTS IN UNCONSOLIDATED ENTITIES - NARRATIVE (Details) $ in Millions | Nov. 15, 2017 | Sep. 30, 2018USD ($) | Feb. 28, 2017USD ($) | Dec. 31, 2018USD ($)MTBcf | Dec. 31, 2018USD ($)MTBcf | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Mar. 09, 2018 | Nov. 14, 2017 | Sep. 26, 2016 | Sep. 25, 2016 | May 31, 2016 | May 09, 2016 | Mar. 31, 2016USD ($) | Mar. 29, 2016 | Jun. 30, 2015USD ($) | Nov. 30, 2014USD ($) | Oct. 01, 2014USD ($) |
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||
Undistributed earnings of equity method investments | $ 332 | $ 332 | $ 89 | |||||||||||||||
Undistributed earnings, equity method investments, over 50 percent owned | 221 | |||||||||||||||||
Debt instrument converted | 0 | 19 | $ 0 | |||||||||||||||
Equity method investment | 9,652 | 9,652 | 0 | |||||||||||||||
Interest costs capitalized | 202 | $ 256 | 236 | |||||||||||||||
Fair value at origin guarantee obligation associated with cash flow requirements | $ 82 | |||||||||||||||||
Current guarantor obligations | $ 9 | $ 9 | ||||||||||||||||
R B S Sempra Commodities [Member] | ||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||
Other than temporary impairment | $ 65 | |||||||||||||||||
Cameron LNG [Member] | ||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||
Ownership percentage in equity method investee | 50.20% | 50.20% | ||||||||||||||||
Threshold for canceling of hedge, Percent of unamortized principal | 50.00% | |||||||||||||||||
Indirect economic and beneficial and ownership interest prior to financial completion | 37.65% | 37.65% | ||||||||||||||||
Indirect economic and beneficial and ownership interest after financial completion | 10.00% | 10.00% | ||||||||||||||||
Cameron LNG [Member] | Other Long Term Debt, Due July 2030 [Member] | ||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||
Guarantor Obligations, Maximum Exposure, Percentage | 50.20% | 50.20% | ||||||||||||||||
Debt instrument, maximum borrowing amount | $ 3,900 | $ 3,900 | ||||||||||||||||
Sempra Energy and Other [Member] | R B S Sempra Commodities [Member] | ||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||
Ownership percentage in equity method investee | 49.00% | 49.00% | 49.00% | |||||||||||||||
Sempra Mexico [Member] | IEnova Pipelines [Member] | ||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||
Acquired percentage interest | 50.00% | |||||||||||||||||
Ownership percentage in equity method investee | 50.00% | |||||||||||||||||
Sempra Mexico [Member] | IMG [Member] | ||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||
Payments to acquire equity method investments | $ 80 | $ 72 | 100 | |||||||||||||||
Ownership percentage in equity method investee | 40.00% | 40.00% | ||||||||||||||||
Transportation service contract term | 25 years | |||||||||||||||||
Sempra Mexico [Member] | TransCanada [Member] | ||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||
Ownership percentage in equity method investee | 60.00% | 60.00% | ||||||||||||||||
Sempra Mexico [Member] | DEN [Member] | IEnova Pipelines [Member] | ||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||
Ownership percentage in equity method investee | 50.00% | |||||||||||||||||
Sempra Renewables [Member] | ||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||
Payments to acquire equity method investments | $ 5 | 18 | ||||||||||||||||
Sempra Renewables [Member] | Wind Investments [Member] | ||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||
Other than temporary impairment | 200 | |||||||||||||||||
Equity method investment | $ 291 | 291 | ||||||||||||||||
Sempra LNG & Midstream [Member] | Rockies Express [Member] | ||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||
Ownership percentage in equity method investee | 25.00% | 25.00% | 25.00% | 25.00% | ||||||||||||||
Equity method investment | $ 484 | |||||||||||||||||
Sempra LNG & Midstream [Member] | Cameron LNG [Member] | ||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||
Payments to acquire equity method investments | $ 228 | 1 | ||||||||||||||||
Proved developed reserves | Bcf | 1.5 | 1.5 | ||||||||||||||||
Project capacity | MT | 13.9 | 13.9 | ||||||||||||||||
Proved undeveloped reserve | MT | 12 | 12 | ||||||||||||||||
Proved undeveloped reserve per day | Bcf | 1.7 | 1.7 | ||||||||||||||||
Interest costs capitalized | $ 47 | 47 | $ 47 | |||||||||||||||
Debt amount | $ 7,400 | $ 7,400 | ||||||||||||||||
Percentage of debt hedged by interest rate derivatives | 50.00% | 50.00% | ||||||||||||||||
Notional amount of derivatives | $ 1,500 | $ 3,700 | ||||||||||||||||
Sempra LNG & Midstream [Member] | LIBOR [Member] | Cameron LNG [Member] | ||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||
Weighted average rate prior to project completion | 1.59% | 1.59% | ||||||||||||||||
Weighted average rate after project completion | 1.78% | 1.78% | ||||||||||||||||
Fixed percentage interest rate | 3.32% | 3.19% | ||||||||||||||||
Corporate Joint Venture [Member] | Sempra South American Utilities [Member] | Eletrans [Member] | ||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||
Payments to acquire equity method investments | $ 1 | |||||||||||||||||
Debt instrument converted | $ 19 | |||||||||||||||||
Other Project Partners [Member] | Cameron LNG [Member] | Other Long Term Debt, Due July 2030 [Member] | ||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||
Guarantor Obligations, Maximum Exposure, Percentage | 49.80% | 49.80% | ||||||||||||||||
Ductos Energéticos del Norte [Member] | Sempra Mexico [Member] | IEnova [Member] | ||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||
Ownership percentage in consolidated entity | 100.00% | |||||||||||||||||
Acquired percentage interest | 50.00% | |||||||||||||||||
Ownership percentage in equity method investee | 50.00% | |||||||||||||||||
Oncor Holdings Electric Delivery Company LLC [Member] | ||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||
Acquired percentage interest | 80.25% | |||||||||||||||||
Net income/earnings | $ 371 | |||||||||||||||||
Payments to acquire equity method investments | $ 230 | |||||||||||||||||
Oncor Electric Delivery Company LLC [Member] | ||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||
Acquired percentage interest | 80.25% | |||||||||||||||||
Oncor Electric Delivery Company LLC [Member] | Sempra Texas Holdings Corp [Member] | ||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||
Acquired percentage interest | 80.03% |
INVESTMENTS IN UNCONSOLIDATED_5
INVESTMENTS IN UNCONSOLIDATED ENTITIES - SUMMARIZED FINANCIAL INFORMATION (Details) - USD ($) $ in Millions | Nov. 15, 2017 | Sep. 26, 2016 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 13, 2018 | Nov. 14, 2017 | Sep. 25, 2016 | May 31, 2016 | May 09, 2016 | Mar. 31, 2016 | Mar. 29, 2016 |
Oncor Holdings Electric Delivery Company LLC [Member] | ||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||
Gross revenue | $ 3,347 | |||||||||||
Operating expense | (2,434) | |||||||||||
Income from operations | 913 | |||||||||||
Interest expense | (285) | |||||||||||
Income tax expense | (119) | |||||||||||
Net income/earnings | 455 | |||||||||||
Noncontrolling interest held by TTI | (94) | |||||||||||
Earnings attributable to Sempra Energy | 360 | |||||||||||
Current assets | 772 | |||||||||||
Noncurrent assets | 21,980 | |||||||||||
Current liabilities | 2,217 | |||||||||||
Noncurrent liabilities | 11,756 | |||||||||||
Other Equity Method Investments [Member] | ||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||
Gross revenue | 727 | $ 846 | $ 1,079 | |||||||||
Operating expense | (614) | (590) | (726) | |||||||||
Income from operations | 113 | 256 | 353 | |||||||||
Interest expense | (330) | (217) | (127) | |||||||||
Net income/earnings | (33) | 116 | $ 252 | |||||||||
Current assets | 625 | 974 | ||||||||||
Noncurrent assets | 14,803 | 14,087 | ||||||||||
Current liabilities | 813 | 797 | ||||||||||
Noncurrent liabilities | $ 10,226 | $ 9,809 | ||||||||||
Sempra LNG & Midstream [Member] | Rockies Express [Member] | ||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||
Ownership percentage in equity method investee | 25.00% | 25.00% | 25.00% | 25.00% | ||||||||
Sempra Renewables [Member] | Broken Bow 2 Wind [Member] | ||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||
Ownership percentage in equity method investee | 50.00% | |||||||||||
IEnova [Member] | Ductos Energéticos del Norte [Member] | Sempra Mexico [Member] | ||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||
Ownership percentage in equity method investee | 50.00% | |||||||||||
Ownership percentage before acquisition | 50.00% | |||||||||||
Acquired percentage interest | 50.00% | |||||||||||
Ownership percentage in consolidated entity | 100.00% | |||||||||||
IEnova [Member] | IEnova Pipelines [Member] | Sempra Mexico [Member] | ||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||
Ownership percentage before acquisition | 50.00% | |||||||||||
Acquired percentage interest | 50.00% | |||||||||||
Ownership percentage in consolidated entity | 100.00% |
INVESTMENTS IN UNCONSOLIDATED_6
INVESTMENTS IN UNCONSOLIDATED ENTITIES - GUARANTEES (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Long-term Purchase Commitment [Line Items] | ||
Current guarantor obligations | $ 9 | |
Debt Service Operations [Member] | ||
Long-term Purchase Commitment [Line Items] | ||
Maximum exposure of guarantor obligations | 152 | |
Current guarantor obligations | 5 | |
Purchased Power Contracts [Member] | ||
Long-term Purchase Commitment [Line Items] | ||
Maximum exposure of guarantor obligations | 79 | |
Current guarantor obligations | $ 1 | |
IEnova [Member] | Sempra Mexico [Member] | ||
Long-term Purchase Commitment [Line Items] | ||
Ownership percentage held by noncontrolling owners | 33.50% | 33.60% |
Corporate Joint Venture [Member] | IMG [Member] | IEnova [Member] | Sempra Mexico [Member] | ||
Long-term Purchase Commitment [Line Items] | ||
Ownership percentage held by noncontrolling owners | 40.00% | |
TransCanada [Member] | Corporate Joint Venture [Member] | IMG [Member] | IEnova [Member] | Sempra Mexico [Member] | ||
Long-term Purchase Commitment [Line Items] | ||
Ownership percentage held by noncontrolling owners | 60.00% |
DEBT AND CREDIT FACILITIES - NA
DEBT AND CREDIT FACILITIES - NARRATIVE (Details) | Sep. 24, 2018USD ($) | May 17, 2018USD ($) | May 15, 2018USD ($) | Jan. 12, 2018USD ($) | Dec. 31, 2018USD ($)line_of_credit | Jan. 31, 2018USD ($) | Dec. 31, 2018USD ($)line_of_credit | Dec. 31, 2017USD ($) | Dec. 13, 2018USD ($) | Oct. 31, 2018USD ($) |
Debt Instrument [Line Items] | ||||||||||
Letters of credit outstanding | $ 598,000,000 | $ 598,000,000 | ||||||||
Unsecured debt | 12,900,000,000 | 12,900,000,000 | ||||||||
Callable long-term debt, not subject to make-whole provisions | 976,000,000 | 976,000,000 | ||||||||
Repayments of debt | $ 800,000,000 | $ 800,000,000 | ||||||||
Sempra Energy [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Total facility | 1,250,000,000 | 1,250,000,000 | ||||||||
Available unused credit | 1,250,000,000 | 1,250,000,000 | ||||||||
Sempra Energy [Member] | Fixed and Variable Rate Notes [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Gross long-term debt | 4,900,000,000 | |||||||||
Unamortized debt discount (premium) and debt issuance costs | $ 68,000,000 | |||||||||
Sempra U.S. Businesses [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Total facility | 5,435,000,000 | 5,435,000,000 | ||||||||
Available unused credit | $ 4,219,000,000 | $ 4,219,000,000 | ||||||||
Sempra Energy Consolidated [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Number of lines of credit | line_of_credit | 3 | 3 | ||||||||
Weighted average interest rate on total short-term debt outstanding | 3.01% | 3.01% | 1.92% | |||||||
South American Utilities and Mexico Combined [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Total facility | $ 1,819,000,000 | $ 1,819,000,000 | ||||||||
Available unused credit | 829,000,000 | 829,000,000 | ||||||||
Line of credit | 990,000,000 | 990,000,000 | ||||||||
Southern California Gas Company [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Total facility | 750,000,000 | 750,000,000 | ||||||||
Available unused credit | $ 453,000,000 | $ 453,000,000 | ||||||||
Weighted average interest rate on total short-term debt outstanding | 2.58% | 2.58% | 1.64% | |||||||
Unsecured debt | $ 9,000,000 | $ 9,000,000 | ||||||||
Callable long-term debt, not subject to make-whole provisions | 4,000,000 | 4,000,000 | ||||||||
First mortgage bonds available for future issuance | 1,200,000,000 | 1,200,000,000 | ||||||||
Gross long-term debt | 3,450,000,000 | 3,450,000,000 | $ 3,000,000,000 | |||||||
Otay Mesa Energy Center [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Callable long-term debt, not subject to make-whole provisions | 220,000,000 | 220,000,000 | ||||||||
OMEC LLC [Member] | Secured Debt [Member] | December 2018 OMEC Loan Agreement [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Debt amount | $ 220,000,000 | 220,000,000 | ||||||||
OMEC LLC [Member] | Secured Debt [Member] | December 2018 OMEC Loan Agreement [Member] | LIBOR [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Variable percentage rate | 2.00% | |||||||||
San Diego Gas and Electric Company [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Total facility | $ 750,000,000 | 750,000,000 | ||||||||
Available unused credit | $ 453,000,000 | $ 453,000,000 | ||||||||
Weighted average interest rate on total short-term debt outstanding | 2.97% | 2.97% | 1.65% | |||||||
Unsecured debt | $ 0 | $ 0 | ||||||||
Callable long-term debt, not subject to make-whole provisions | 251,000,000 | 251,000,000 | ||||||||
First mortgage bonds available for future issuance | 5,700,000,000 | 5,700,000,000 | ||||||||
Gross long-term debt | 4,776,000,000 | 4,776,000,000 | $ 4,573,000,000 | |||||||
San Diego Gas and Electric Company [Member] | Four Point One Five Percent First Mortgage Bonds Maturing Twenty Forty Eight [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Proceeds from issuance of first mortgage bond | $ 400,000,000 | |||||||||
Stated percentage rate | 4.15% | |||||||||
Southern California Gas Company [Member] | Four Point One Two Five Percent First Mortgage Bonds Maturing Twenty Forty Eight [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Proceeds from issuance of first mortgage bond | $ 400,000,000 | |||||||||
Stated percentage rate | 4.125% | |||||||||
Southern California Gas Company [Member] | Four Point Three Percent First Mortgage Bonds Maturing Twenty Forty Nine [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Proceeds from issuance of first mortgage bond | $ 550,000,000 | |||||||||
Stated percentage rate | 4.30% | |||||||||
Sempra South American Utilities [Member] | Luz Del Sur [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Proceeds from issuance of debt | 107,000,000 | |||||||||
Line of credit | $ 61,000,000 | $ 61,000,000 | ||||||||
Sempra South American Utilities [Member] | Luz Del Sur [Member] | Minimum [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Stated percentage rate | 4.30% | 4.30% | ||||||||
Sempra South American Utilities [Member] | Luz Del Sur [Member] | Maximum [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Stated percentage rate | 5.70% | 5.70% | ||||||||
Sempra South American Utilities [Member] | Luz Del Sur [Member] | Corporate Debt Securities [Member] | Corporate Bonds Maturing 2028 [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Stated percentage rate | 7.00% | |||||||||
Debt amount | $ 50,000,000 | |||||||||
Interest Rate Swap, maturing on April 30, 2019 [Member] | OMEC LLC [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Notional amount of derivative liability | $ 142,000,000 | $ 142,000,000 | ||||||||
Fixed percentage interest rate | 5.2925% | 5.2925% | ||||||||
Interest Rate Swap, maturing on October 31, 2019 [Member] | OMEC LLC [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Notional amount of derivative liability | $ 159,000,000 | $ 159,000,000 | ||||||||
Fixed percentage interest rate | 2.765% | 2.765% | ||||||||
Swaption [Member] | OMEC LLC [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Notional amount of derivative liability | $ 142,000,000 | $ 142,000,000 | ||||||||
Fixed percentage interest rate | 3.0375% | 3.0375% | ||||||||
Peaker Plant Facility [Member] | San Diego Gas and Electric Company [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Power purchase agreement term | 20 years | |||||||||
Capital lease obligations incurred | $ 550,000,000 | |||||||||
Certain Subsidiaries Of Sempra Renewables [Member] | Disposal Group Disposed of by Sale [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Proceeds from sale | $ 1,600,000,000 | |||||||||
Long-term debt | $ 70,000,000 |
DEBT AND CREDIT FACILITIES - SU
DEBT AND CREDIT FACILITIES - SUMMARY OF LINES OF CREDIT (Details) | 1 Months Ended | 12 Months Ended |
Feb. 28, 2019USD ($)lender | Dec. 31, 2018USD ($)lender | |
Sempra Energy [Member] | ||
Line of Credit Facility [Line Items] | ||
Total facility | $ 1,250,000,000 | |
Available unused credit | 1,250,000,000 | |
Committed lines of credit, capacity for issuance of letters of credit | $ 400,000,000 | |
Committed lines of credit, maximum ratio of indebtedness to total capitalization | 65.00% | |
Sempra Energy [Member] | Commercial paper [Member] | ||
Line of Credit Facility [Line Items] | ||
Line of credit outstanding | $ 0 | |
Sempra Global [Member] | ||
Line of Credit Facility [Line Items] | ||
Total facility | 3,185,000,000 | |
Available unused credit | 2,516,000,000 | |
Sempra Global [Member] | Commercial paper [Member] | ||
Line of Credit Facility [Line Items] | ||
Line of credit outstanding | (669,000,000) | |
San Diego Gas and Electric Company [Member] | ||
Line of Credit Facility [Line Items] | ||
Total facility | 750,000,000 | |
Adjustment for combined limit | (6,000,000) | |
Available unused credit | $ 453,000,000 | |
Committed lines of credit, maximum ratio of indebtedness to total capitalization | 65.00% | |
San Diego Gas and Electric Company [Member] | Commercial paper [Member] | ||
Line of Credit Facility [Line Items] | ||
Line of credit outstanding | $ (291,000,000) | |
Southern California Gas Company [Member] | ||
Line of Credit Facility [Line Items] | ||
Total facility | 750,000,000 | |
Adjustment for combined limit | (41,000,000) | |
Available unused credit | $ 453,000,000 | |
Committed lines of credit, maximum ratio of indebtedness to total capitalization | 65.00% | |
Southern California Gas Company [Member] | Commercial paper [Member] | ||
Line of Credit Facility [Line Items] | ||
Line of credit outstanding | $ (256,000,000) | |
California Utilities [Member] | ||
Line of Credit Facility [Line Items] | ||
Total facility | 1,000,000,000 | |
Adjustment for combined limit | 47,000,000 | |
Available unused credit | 453,000,000 | |
Reduction in borrowing limit | (500,000,000) | |
Available unused credit limit reduction | (453,000,000) | |
Committed lines of credit, capacity for issuance of letters of credit | 250,000,000 | |
California Utilities [Member] | Commercial paper [Member] | ||
Line of Credit Facility [Line Items] | ||
Line of credit outstanding | (547,000,000) | |
Reduction in borrowing limit | 0 | |
Sempra U.S. Businesses [Member] | ||
Line of Credit Facility [Line Items] | ||
Total facility | 5,435,000,000 | |
Available unused credit | $ 4,219,000,000 | |
Committed lines of credit, term | 5 years | |
Committed lines of credit, number of lenders | lender | 21 | |
Lender maximum share of debt percent | 7.00% | |
Sempra U.S. Businesses [Member] | Commercial paper [Member] | ||
Line of Credit Facility [Line Items] | ||
Line of credit outstanding | $ (1,216,000,000) | |
Sempra South American Utilities [Member] | Peru [Member] | ||
Line of Credit Facility [Line Items] | ||
Total facility | 534,000,000 | |
Line of credit outstanding | (182,000,000) | |
Available unused credit | $ 352,000,000 | |
Committed lines of credit, maximum debt to equity ratio | 170.00% | |
Committed lines of credit, bank guarantee | $ 18,000,000 | |
Sempra South American Utilities [Member] | Chile [Member] | ||
Line of Credit Facility [Line Items] | ||
Total facility | 115,000,000 | |
Line of credit outstanding | 0 | |
Available unused credit | 115,000,000 | |
Sempra Mexico [Member] | ||
Line of Credit Facility [Line Items] | ||
Total facility | 1,170,000,000 | |
Line of credit outstanding | (808,000,000) | |
Available unused credit | $ 362,000,000 | |
Committed lines of credit, term | 5 years | |
Committed lines of credit, number of lenders | lender | 8 | |
South American Utilities and Mexico Combined [Member] | ||
Line of Credit Facility [Line Items] | ||
Total facility | $ 1,819,000,000 | |
Line of credit outstanding | (990,000,000) | |
Available unused credit | $ 829,000,000 | |
Subsequent Event [Member] | Sempra Mexico [Member] | ||
Line of Credit Facility [Line Items] | ||
Total facility | $ 1,500,000,000 | |
Committed lines of credit, number of lenders | lender | 10 |
DEBT AND CREDIT FACILITIES - SC
DEBT AND CREDIT FACILITIES - SCHEDULE OF LONG-TERM DEBT INSTRUMENTS (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Debt Instrument [Line Items] | ||
Current portion of long-term debt | $ (1,673) | $ (1,427) |
Long-term debt | 21,611 | 16,445 |
San Diego Gas and Electric Company [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | 4,776 | 4,573 |
Capital lease obligations | 1,272 | 732 |
Long-term debt and capital lease obligations | 6,268 | 5,600 |
Current portion of long-term debt | (81) | (220) |
Unamortized discount on long-term debt | (12) | (11) |
Unamortized debt issuance costs | (37) | (34) |
Long-term debt | 6,138 | 5,335 |
San Diego Gas and Electric Company [Member] | First Mortgage Bonds, Due July 2018 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | 0 | $ 161 |
Stated percentage rate | 1.65% | |
San Diego Gas and Electric Company [Member] | First Mortgage Bonds, Due August 2021 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | $ 350 | $ 350 |
Stated percentage rate | 3.00% | |
San Diego Gas and Electric Company [Member] | First Mortgage Bonds Due February 2022 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | $ 125 | 161 |
Stated percentage rate | 1.914% | |
San Diego Gas and Electric Company [Member] | First Mortgage Bonds, Due September 2023 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | $ 450 | 450 |
Stated percentage rate | 3.60% | |
San Diego Gas and Electric Company [Member] | First Mortgage Bonds Due May 2026 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | $ 500 | 500 |
Stated percentage rate | 2.50% | |
San Diego Gas and Electric Company [Member] | First Mortgage Bonds, Due January and February 2034 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | $ 176 | 176 |
Stated percentage rate | 5.875% | |
San Diego Gas and Electric Company [Member] | First Mortgage Bonds, Due May 2035 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | $ 250 | 250 |
Stated percentage rate | 5.35% | |
San Diego Gas and Electric Company [Member] | First Mortgage Bonds, Due September 2037 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | $ 250 | 250 |
Stated percentage rate | 6.125% | |
San Diego Gas and Electric Company [Member] | First Mortgage Bonds, Due May 2039 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | $ 75 | 75 |
Stated percentage rate | 4.00% | |
San Diego Gas and Electric Company [Member] | First Mortgage Bonds, Due June 2039 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | $ 300 | 300 |
Stated percentage rate | 6.00% | |
San Diego Gas and Electric Company [Member] | First Mortgage Bonds, Due May 2040 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | $ 250 | 250 |
Stated percentage rate | 5.35% | |
San Diego Gas and Electric Company [Member] | First Mortgage Bonds, Due August 2040 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | $ 500 | 500 |
Stated percentage rate | 4.50% | |
San Diego Gas and Electric Company [Member] | First Mortgage Bonds, Due November 2041 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | $ 250 | 250 |
Stated percentage rate | 3.95% | |
San Diego Gas and Electric Company [Member] | First Mortgage Bonds, Due April 2042 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | $ 250 | 250 |
Stated percentage rate | 4.30% | |
San Diego Gas and Electric Company [Member] | First Mortgage Bonds, Due June 2047 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | $ 400 | 400 |
Stated percentage rate | 3.75% | |
San Diego Gas and Electric Company [Member] | First Mortgage Bonds, Due May 2048 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | $ 400 | 0 |
Stated percentage rate | 4.15% | |
San Diego Gas and Electric Company [Member] | Capital Lease Obligations, Purchased Power Agreements [Member] | ||
Debt Instrument [Line Items] | ||
Capital lease obligations | $ 1,270 | 731 |
San Diego Gas and Electric Company [Member] | Capital Lease Obligations, Other [Member] | ||
Debt Instrument [Line Items] | ||
Capital lease obligations | 2 | 1 |
San Diego Gas and Electric Company [Member] | First Mortgage Bonds, Due June 2026 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | $ 250 | 250 |
Stated percentage rate | 6.00% | |
San Diego Gas and Electric Company [Member] | Other Long-term Debt [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt and capital lease obligations | $ 1,492 | 1,027 |
San Diego Gas and Electric Company [Member] | Otay Mesa Energy Center Loan Payable Currently Through April 2019 [Member] | ||
Debt Instrument [Line Items] | ||
Stated percentage rate | 5.2925% | |
Variable percentage rate | 4.7896% | |
Southern California Gas Company [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | $ 3,450 | 3,000 |
Capital lease obligations | 3 | 1 |
Long-term debt and capital lease obligations | 3,462 | 3,010 |
Current portion of long-term debt | (3) | (501) |
Unamortized discount on long-term debt | (6) | (7) |
Unamortized debt issuance costs | (26) | (17) |
Long-term debt | 3,427 | 2,485 |
Southern California Gas Company [Member] | First Mortgage Bonds, Due April 2018 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | $ 0 | 250 |
Stated percentage rate | 5.45% | |
Southern California Gas Company [Member] | First Mortgage Bonds Due June 2018 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | $ 0 | 250 |
Stated percentage rate | 1.55% | |
Southern California Gas Company [Member] | First Mortgage Bonds, Due September 2024 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | $ 500 | 500 |
Stated percentage rate | 3.15% | |
Southern California Gas Company [Member] | First Mortgage Bonds Due June 2025 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | $ 350 | 350 |
Stated percentage rate | 3.20% | |
Southern California Gas Company [Member] | First Mortgage Bonds, Due June 2026 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | $ 500 | 500 |
Stated percentage rate | 2.60% | |
Southern California Gas Company [Member] | First Mortgage Bonds, Due November 2035 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | $ 250 | 250 |
Stated percentage rate | 5.75% | |
Southern California Gas Company [Member] | First Mortgage Bonds, Due November 2040 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | $ 300 | 300 |
Stated percentage rate | 5.125% | |
Southern California Gas Company [Member] | First Mortgage Bonds, Due September 2042 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | $ 350 | 350 |
Stated percentage rate | 3.75% | |
Southern California Gas Company [Member] | First Mortgage Bonds, Due March 2044 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | $ 250 | 250 |
Stated percentage rate | 4.45% | |
Southern California Gas Company [Member] | First Mortgage Bonds, Due June 2048 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | $ 400 | 0 |
Stated percentage rate | 4.125% | |
Southern California Gas Company [Member] | First Mortgage Bonds Due January 2049 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | $ 550 | 0 |
Stated percentage rate | 4.30% | |
Southern California Gas Company [Member] | Other Long-term Debt [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt and capital lease obligations | $ 12 | 10 |
Southern California Gas Company [Member] | Other Long-term Debt, Due May 2026 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | $ 4 | 4 |
Stated percentage rate | 1.875% | |
Southern California Gas Company [Member] | Other Long-term Debt, Due January 2028 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | $ 5 | 5 |
Stated percentage rate | 5.67% | |
Sempra Energy [Member] | ||
Debt Instrument [Line Items] | ||
Build to suit lease | $ 138 | 138 |
Sempra Energy [Member] | Other Long-term Debt, Due June 2018 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | 0 | $ 500 |
Stated percentage rate | 6.15% | |
Sempra Energy [Member] | Other Long-term Debt, Due February 2019 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | $ 500 | $ 500 |
Stated percentage rate | 9.80% | |
Sempra Energy [Member] | Other Long-term Debt, Due July 2019 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | $ 500 | 0 |
Stated percentage rate | 2.69% | |
Sempra Energy [Member] | Other Long-term Debt, Due October 2019 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | $ 500 | 500 |
Stated percentage rate | 1.625% | |
Sempra Energy [Member] | Other Long Term Debt Due February 2020 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | $ 500 | 0 |
Sempra Energy [Member] | Other Long Term Debt Due March 2020 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | $ 500 | 500 |
Stated percentage rate | 2.40% | |
Sempra Energy [Member] | Other Long Term Debt, Due November 2020 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | $ 400 | 400 |
Stated percentage rate | 2.85% | |
Sempra Energy [Member] | Other Long-term Debt, Due January 2021 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | $ 700 | 0 |
Effective percentage rate | 2.94% | |
Sempra Energy [Member] | Other Long Term Debt, Due March 2021 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | $ 850 | 850 |
Effective percentage rate | 3.24% | |
Sempra Energy [Member] | Other Long-term Debt, Due October 2022 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | $ 500 | 500 |
Stated percentage rate | 2.875% | |
Sempra Energy [Member] | Other Long-term Debt, Due February 2023 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | $ 500 | 0 |
Stated percentage rate | 2.90% | |
Sempra Energy [Member] | Other Long-term Debt, Due December 2023 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | $ 500 | 500 |
Stated percentage rate | 4.05% | |
Sempra Energy [Member] | Other Long Term Debt Due June 2024 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | $ 500 | 500 |
Stated percentage rate | 3.55% | |
Sempra Energy [Member] | Other Long-term Debt, Due November 2025 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | $ 350 | 350 |
Stated percentage rate | 3.75% | |
Sempra Energy [Member] | Other Long Term Debt Due June 2027 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | $ 750 | 750 |
Stated percentage rate | 3.25% | |
Sempra Energy [Member] | Other Long Term Debt Due February 2028 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | $ 1,000 | 0 |
Sempra Energy [Member] | Other Long Term Debt Due February 2038 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | 1,000 | 0 |
Sempra Energy [Member] | Other Long-Term Debt, Due October 2039 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | $ 750 | 750 |
Stated percentage rate | 6.00% | |
Sempra Energy [Member] | Other Long Term Debt Due February 2048 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | $ 800 | 0 |
Stated percentage rate | 4.00% | |
Sempra Energy [Member] | Market Value Adjustment For Interest Rate Swap [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | $ 0 | (1) |
Sempra Energy [Member] | Two Point Four Percent Notes Due Twenty Twenty [Member] | ||
Debt Instrument [Line Items] | ||
Stated percentage rate | 2.40% | |
Sempra Energy [Member] | Two Point Nine Percent Notes Due Twenty Twenty Three [Member] | ||
Debt Instrument [Line Items] | ||
Stated percentage rate | 2.90% | |
Sempra Energy [Member] | Three Point Four Percent Notes Due Twenty Twenty Eight [Member] | ||
Debt Instrument [Line Items] | ||
Stated percentage rate | 3.40% | |
Sempra Energy [Member] | Three Point Eight Percent Notes Due Twenty Twenty Eight [Member] | ||
Debt Instrument [Line Items] | ||
Stated percentage rate | 3.80% | |
Sempra Energy [Member] | Four Percent Notes Due Twenty Forty Eight [Member] | ||
Debt Instrument [Line Items] | ||
Stated percentage rate | 4.00% | |
Sempra South American Utilities [Member] | ||
Debt Instrument [Line Items] | ||
Capital lease obligations | $ 6 | 6 |
Sempra South American Utilities [Member] | Other Long-term Debt, Currently Through October 2030 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | $ 186 | 205 |
Stated percentage rate | 4.25% | |
Sempra South American Utilities [Member] | Other Long-term Debt, Currently Through December 2018 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | $ 105 | 53 |
Sempra South American Utilities [Member] | Other Long-term Debt, Currently Through December 2018 [Member] | Minimum [Member] | ||
Debt Instrument [Line Items] | ||
Stated percentage rate | 4.30% | |
Sempra South American Utilities [Member] | Other Long-term Debt, Currently Through December 2018 [Member] | Maximum [Member] | ||
Debt Instrument [Line Items] | ||
Stated percentage rate | 5.70% | |
Sempra South American Utilities [Member] | Other Long Term Debt, Payable Currently Through September 2029 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | $ 432 | 415 |
Sempra South American Utilities [Member] | Other Long Term Debt, Payable Currently Through September 2029 [Member] | Minimum [Member] | ||
Debt Instrument [Line Items] | ||
Stated percentage rate | 4.75% | |
Sempra South American Utilities [Member] | Other Long Term Debt, Payable Currently Through September 2029 [Member] | Maximum [Member] | ||
Debt Instrument [Line Items] | ||
Stated percentage rate | 8.75% | |
Sempra South American Utilities [Member] | Other Long Term Debt, Payable Currently Through May 2022 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | $ 4 | 6 |
Sempra South American Utilities [Member] | Other Long Term Debt, Payable Currently Through May 2022 [Member] | Minimum [Member] | ||
Debt Instrument [Line Items] | ||
Stated percentage rate | 3.77% | |
Sempra South American Utilities [Member] | Other Long Term Debt, Payable Currently Through May 2022 [Member] | Maximum [Member] | ||
Debt Instrument [Line Items] | ||
Stated percentage rate | 4.61% | |
Sempra Mexico [Member] | Other Long-term Debt, Due February 2023 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | $ 198 | 198 |
Stated percentage rate | 6.30% | |
Effective percentage rate | 4.12% | |
Sempra Mexico [Member] | Other Long-term Debt, Due February 2018 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | $ 0 | 66 |
Variable percentage rate | 2.66% | |
Sempra Mexico [Member] | Other Long-term Debt, Currently Through December 2026 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | $ 275 | 314 |
Stated percentage rate | 4.88% | |
Sempra Mexico [Member] | Other Long-term Debt, Currently Through January 2028 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | $ 300 | 300 |
Stated percentage rate | 3.75% | |
Sempra Mexico [Member] | Other Long Term Debt, Payable Currently Through March 2032 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | $ 447 | 468 |
Stated percentage rate | 6.67% | |
Long-term debt subject to fixed rate | $ 246 | |
Sempra Mexico [Member] | Other Long Term Debt, Payable Currently Through March 2032, Variable Rate Two [Member] | ||
Debt Instrument [Line Items] | ||
Effective percentage rate | 5.82% | |
Long-term debt subject to variable rate | $ 37 | |
Sempra Mexico [Member] | Other Long Term Debt, Payable Currently Through May 2032, Variable Rate One [Member] | ||
Debt Instrument [Line Items] | ||
Weighted average rate | 6.33% | |
Long-term debt subject to variable rate | $ 164 | |
Sempra Mexico [Member] | Other Long-term Debt, Currently Through January 2048 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | $ 540 | 540 |
Stated percentage rate | 4.875% | |
Sempra Mexico [Member] | Other Long-term Debt, Currently Through July 2028 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | $ 4 | 0 |
Variable percentage rate | 6.07% | |
Sempra Renewables [Member] | Other LongTerm Debt, Variable Rate Loan Payable Currently Through December 2028 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | $ 0 | $ 77 |
Stated percentage rate | 3.668% | |
Variable percentage rate | 3.325% | |
Long-term debt subject to fixed rate | $ 59 | |
Sempra LNG & Midstream [Member] | Other Long-term Debt, Currently Through October 2026 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | $ 21 | 20 |
Sempra LNG & Midstream [Member] | Other Long-term Debt, Currently Through October 2026 [Member] | Minimum [Member] | ||
Debt Instrument [Line Items] | ||
Stated percentage rate | 2.87% | |
Sempra LNG & Midstream [Member] | Other Long-term Debt, Currently Through October 2026 [Member] | Maximum [Member] | ||
Debt Instrument [Line Items] | ||
Stated percentage rate | 3.51% | |
Other Sempra Energy [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt and capital lease obligations | $ 13,756 | 9,405 |
Current portion of long-term debt | (1,589) | (706) |
Unamortized discount on long-term debt | (38) | (13) |
Unamortized premium on long-term debt | 4 | 4 |
Unamortized debt issuance costs | (87) | (65) |
Long-term debt | 12,046 | 8,625 |
Otay Mesa VIE [Member] | ||
Debt Instrument [Line Items] | ||
Current portion of long-term debt | (28) | (10) |
Otay Mesa VIE [Member] | San Diego Gas and Electric Company [Member] | ||
Debt Instrument [Line Items] | ||
Current portion of long-term debt | (28) | (10) |
Long-term debt | 190 | 284 |
Otay Mesa VIE [Member] | San Diego Gas and Electric Company [Member] | Otay Mesa Energy Center Loan Payable Currently Through April 2019 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | 0 | 295 |
Otay Mesa VIE [Member] | San Diego Gas and Electric Company [Member] | Otay Mesa Energy Center Loan Payable 2019 through 2024 [Member] | ||
Debt Instrument [Line Items] | ||
Gross long-term debt | 220 | $ 0 |
Notional amount of derivative liability | $ 142 | |
Fixed percentage interest rate | 5.2925% |
DEBT AND CREDIT FACILITIES - MA
DEBT AND CREDIT FACILITIES - MATURITIES OF LONG-TERM DEBT (5 YEAR SCHEDULE) (Details) | Dec. 31, 2018USD ($) |
Schedule Of Long Term Debt Maturities [Line Items] | |
2,019 | $ 1,654,000,000 |
2,020 | 1,619,000,000 |
2,021 | 2,125,000,000 |
2,022 | 682,000,000 |
2,023 | 1,821,000,000 |
Thereafter | 14,166,000,000 |
Total | 22,067,000,000 |
San Diego Gas and Electric Company [Member] | |
Schedule Of Long Term Debt Maturities [Line Items] | |
2,019 | 64,000,000 |
2,020 | 71,000,000 |
2,021 | 425,000,000 |
2,022 | 62,000,000 |
2,023 | 500,000,000 |
Thereafter | 3,874,000,000 |
Total | 4,996,000,000 |
Southern California Gas Company [Member] | |
Schedule Of Long Term Debt Maturities [Line Items] | |
2,019 | 0 |
2,020 | 0 |
2,021 | 0 |
2,022 | 0 |
2,023 | 0 |
Thereafter | 3,459,000,000 |
Total | 3,459,000,000 |
Other Sempra Energy [Member] | |
Schedule Of Long Term Debt Maturities [Line Items] | |
2,019 | 1,590,000,000 |
2,020 | 1,548,000,000 |
2,021 | 1,700,000,000 |
2,022 | 620,000,000 |
2,023 | 1,321,000,000 |
Thereafter | 6,833,000,000 |
Total | $ 13,612,000,000 |
DEBT AND CREDIT FACILITIES - CA
DEBT AND CREDIT FACILITIES - CALLABLE LONG-TERM DEBT (Details) $ in Millions | Dec. 31, 2018USD ($) |
Schedule Of Callable Long-term Debt [Line Items] | |
Callable long-term debt, not subject to make-whole provisions | $ 976 |
Callable long-term debt, subject to make-whole provisions | 18,254 |
San Diego Gas and Electric Company [Member] | |
Schedule Of Callable Long-term Debt [Line Items] | |
Callable long-term debt, not subject to make-whole provisions | 251 |
Callable long-term debt, subject to make-whole provisions | 4,525 |
Southern California Gas Company [Member] | |
Schedule Of Callable Long-term Debt [Line Items] | |
Callable long-term debt, not subject to make-whole provisions | 4 |
Callable long-term debt, subject to make-whole provisions | 3,455 |
Other Sempra Energy [Member] | |
Schedule Of Callable Long-term Debt [Line Items] | |
Callable long-term debt, not subject to make-whole provisions | 721 |
Callable long-term debt, subject to make-whole provisions | $ 10,274 |
DEBT AND CREDIT FACILITIES - NO
DEBT AND CREDIT FACILITIES - NOTES ISSUED IN LONG-TERM DEBT OFFERINGS (Details) - Sempra Energy [Member] - USD ($) $ in Millions | Jan. 12, 2018 | Dec. 31, 2018 |
Floating Rate Notes Due Twenty Nineteen [Member] | ||
Debt Instrument [Line Items] | ||
Debt amount | $ 500 | |
Floating Rate Notes Due Twenty Nineteen [Member] | LIBOR [Member] | ||
Debt Instrument [Line Items] | ||
Variable percentage rate | 0.25% | |
Floating Rate Notes Due Twenty Twenty One [Member] | ||
Debt Instrument [Line Items] | ||
Debt amount | $ 700 | |
Floating Rate Notes Due Twenty Twenty One [Member] | LIBOR [Member] | ||
Debt Instrument [Line Items] | ||
Variable percentage rate | 0.50% | |
Two Point Four Percent Notes Due Twenty Twenty [Member] | ||
Debt Instrument [Line Items] | ||
Stated percentage rate | 2.40% | |
Debt amount | $ 500 | |
Two Point Nine Percent Notes Due Twenty Twenty Three [Member] | ||
Debt Instrument [Line Items] | ||
Stated percentage rate | 2.90% | |
Debt amount | 500 | |
Three Point Four Percent Notes Due Twenty Twenty Eight [Member] | ||
Debt Instrument [Line Items] | ||
Stated percentage rate | 3.40% | |
Debt amount | 1,000 | |
Three Point Eight Percent Notes Due Twenty Twenty Eight [Member] | ||
Debt Instrument [Line Items] | ||
Stated percentage rate | 3.80% | |
Debt amount | 1,000 | |
Four Percent Notes Due Twenty Forty Eight [Member] | ||
Debt Instrument [Line Items] | ||
Stated percentage rate | 4.00% | |
Debt amount | $ 800 |
INCOME TAXES - RECONCILIATION T
INCOME TAXES - RECONCILIATION TO EFFECTIVE TAX RATE (Details) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |||
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Line Items] | |||||
Income tax expense | $ 96 | $ 1,276 | [1] | $ 389 | [1] |
Income before income taxes and equity earnings of unconsolidated entities | 1,046 | 1,551 | [1] | 1,824 | [1] |
Equity earnings, before income tax | (236) | 34 | 6 | ||
Pretax income | $ 810 | $ 1,585 | $ 1,830 | ||
Effective Income Tax Rate Reconciliation, Percent [Abstract] | |||||
U.S. federal statutory income tax rate | 21.00% | 35.00% | 35.00% | ||
Effects of the TCJA | 11.00% | 55.00% | 0.00% | ||
Non-U.S. earnings taxed at lower statutory income tax rates | 9.00% | (3.00%) | (3.00%) | ||
Depreciation | 7.00% | 6.00% | 4.00% | ||
Foreign exchange and inflation effects | 4.00% | 3.00% | (2.00%) | ||
Compensation-related items | 3.00% | 0.00% | (2.00%) | ||
Unrecognized income tax benefits | 2.00% | 0.00% | 0.00% | ||
Noncontrolling interests in tax equity arrangements | 2.00% | 0.00% | 0.00% | ||
Resolution of prior years’ income tax items | 0.00% | (2.00%) | 0.00% | ||
Impairment losses at Sempra LNG & Midstream | (19.00%) | 0.00% | 0.00% | ||
Repairs expenditures | (8.00%) | (6.00%) | (4.00%) | ||
Tax credits | (6.00%) | (4.00%) | (3.00%) | ||
State income taxes, net of federal income tax benefit | (5.00%) | 1.00% | 1.00% | ||
Self-developed software expenditures | (4.00%) | (4.00%) | (3.00%) | ||
Allowance for equity funds used during construction | (3.00%) | (3.00%) | (2.00%) | ||
Amortization of excess deferred income taxes | (2.00%) | 0.00% | 0.00% | ||
Merger-related transaction costs | (1.00%) | 0.00% | 0.00% | ||
Other, net | 1.00% | 3.00% | 0.00% | ||
Effective income tax rate | 12.00% | 81.00% | 21.00% | ||
San Diego Gas and Electric Company [Member] | |||||
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Line Items] | |||||
Income tax expense | $ 173 | $ 155 | [1] | $ 280 | [1] |
Income before income taxes and equity earnings of unconsolidated entities | 849 | 576 | [1] | 845 | [1] |
Pretax income | $ 849 | $ 576 | $ 845 | ||
Effective Income Tax Rate Reconciliation, Percent [Abstract] | |||||
U.S. federal statutory income tax rate | 21.00% | 35.00% | 35.00% | ||
Effects of the TCJA | 0.00% | 5.00% | 0.00% | ||
Depreciation | 3.00% | 7.00% | 5.00% | ||
Compensation-related items | 0.00% | 0.00% | (1.00%) | ||
Resolution of prior years’ income tax items | 0.00% | (4.00%) | (1.00%) | ||
Repairs expenditures | (3.00%) | (8.00%) | (4.00%) | ||
State income taxes, net of federal income tax benefit | 5.00% | 3.00% | 5.00% | ||
Self-developed software expenditures | (2.00%) | (6.00%) | (3.00%) | ||
Allowance for equity funds used during construction | (2.00%) | (4.00%) | (2.00%) | ||
Amortization of excess deferred income taxes | (1.00%) | 0.00% | 0.00% | ||
Other, net | (1.00%) | (1.00%) | (1.00%) | ||
Effective income tax rate | 20.00% | 27.00% | 33.00% | ||
Southern California Gas Company [Member] | |||||
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Line Items] | |||||
Income tax expense | $ 92 | $ 160 | [1] | $ 143 | [1] |
Income before income taxes and equity earnings of unconsolidated entities | 493 | 557 | [1] | 493 | [1] |
Pretax income | $ 493 | $ 557 | $ 493 | ||
Effective Income Tax Rate Reconciliation, Percent [Abstract] | |||||
U.S. federal statutory income tax rate | 21.00% | 35.00% | 35.00% | ||
Depreciation | 7.00% | 9.00% | 9.00% | ||
Compensation-related items | 1.00% | 0.00% | (1.00%) | ||
Unrecognized income tax benefits | 4.00% | 0.00% | 0.00% | ||
Resolution of prior years’ income tax items | (1.00%) | (2.00%) | 2.00% | ||
Repairs expenditures | (7.00%) | (8.00%) | (9.00%) | ||
State income taxes, net of federal income tax benefit | 2.00% | 3.00% | 2.00% | ||
Self-developed software expenditures | (3.00%) | (5.00%) | (6.00%) | ||
Allowance for equity funds used during construction | (2.00%) | (3.00%) | (2.00%) | ||
Amortization of excess deferred income taxes | (2.00%) | 0.00% | 0.00% | ||
Other, net | (1.00%) | 0.00% | (1.00%) | ||
Effective income tax rate | 19.00% | 29.00% | 29.00% | ||
[1] | As adjusted for the retrospective adoption of ASU 2017-07, which we discuss in Note 2 , and a reclassification to conform to current year presentation, which we discuss in Note 1 |
INCOME TAXES - EFFECTS OF THE T
INCOME TAXES - EFFECTS OF THE TAX CUTS AND JOBS ACT OF 2017 (Details) - USD ($) $ in Millions | 1 Months Ended | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Schedule of Effect of Changes in Legislation of Income Tax (Expense) [Line Items] | ||||
U.S. federal statutory income tax rate | 21.00% | 35.00% | 35.00% | |
Income tax expense recognized in current period, related to remeasurement of deferred income tax assets and liabilities | $ 20 | |||
Income tax expense, related to remeasurement of deferred income tax assets and liabilities | 49 | $ 182 | ||
Increase in net regulatory liabilities from remeasurement of deferred tax income tax assets and liabilities | 33 | 2,402 | ||
Decrease in net deferred income tax liabilities due to remeasurement | 16 | (2,220) | ||
Income tax expense related to deemed repatriation | (8) | 328 | ||
Foreign undistributed earnings | $ 4,000 | 3,700 | 4,000 | |
Foreign earnings repatriated | 338 | |||
U.S. state and non-U.S. withholding tax expense, related to expected future repatriation of foreign earnings | 44 | 360 | ||
Total increase in income tax expense | $ 870 | 85 | $ 870 | |
Undistributed earnings of foreign subsidiaries considered to be indefinitely reinvested | $ 1,000 | |||
San Diego Gas and Electric Company [Member] | ||||
Schedule of Effect of Changes in Legislation of Income Tax (Expense) [Line Items] | ||||
U.S. federal statutory income tax rate | 21.00% | 35.00% | 35.00% | |
Income tax expense, related to remeasurement of deferred income tax assets and liabilities | $ 0 | $ 28 | ||
Increase in net regulatory liabilities from remeasurement of deferred tax income tax assets and liabilities | 38 | 1,428 | ||
Decrease in net deferred income tax liabilities due to remeasurement | (38) | (1,400) | ||
Income tax expense related to deemed repatriation | 0 | 0 | ||
U.S. state and non-U.S. withholding tax expense, related to expected future repatriation of foreign earnings | 0 | 0 | ||
Total increase in income tax expense | $ 0 | $ 28 | ||
Southern California Gas Company [Member] | ||||
Schedule of Effect of Changes in Legislation of Income Tax (Expense) [Line Items] | ||||
U.S. federal statutory income tax rate | 21.00% | 35.00% | 35.00% | |
Income tax expense, related to remeasurement of deferred income tax assets and liabilities | $ 0 | $ 2 | ||
Increase in net regulatory liabilities from remeasurement of deferred tax income tax assets and liabilities | (5) | 974 | ||
Decrease in net deferred income tax liabilities due to remeasurement | 5 | (972) | ||
Income tax expense related to deemed repatriation | 0 | 0 | ||
U.S. state and non-U.S. withholding tax expense, related to expected future repatriation of foreign earnings | 0 | 0 | ||
Total increase in income tax expense | 0 | $ 2 | ||
U.S. Federal [Member] | ||||
Schedule of Effect of Changes in Legislation of Income Tax (Expense) [Line Items] | ||||
Operating loss valuation allowance | $ 29 |
INCOME TAXES - COMPONENTS OF IN
INCOME TAXES - COMPONENTS OF INCOME TAX EXPENSE (BENEFIT) (Details) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |||
Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||||
U.S. | $ (102) | $ 878 | $ 773 | ||
Non-U.S. | 912 | 707 | 1,057 | ||
Pretax income | 810 | 1,585 | 1,830 | ||
Current Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||||
U.S. federal | (2) | 0 | 0 | ||
U.S. state | 66 | 0 | 1 | ||
Non-U.S. | 214 | 116 | 171 | ||
Total | 278 | 116 | 172 | ||
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||||
U.S. federal | (120) | 536 | 78 | ||
U.S. state | (159) | 297 | 9 | ||
Non-U.S. | 101 | 327 | 135 | ||
Total | (178) | 1,160 | 222 | ||
Deferred investment tax credits | (4) | 0 | (5) | ||
Total income tax expense | 96 | 1,276 | [1] | 389 | [1] |
San Diego Gas and Electric Company [Member] | |||||
Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||||
Pretax income | 849 | 576 | 845 | ||
Current Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||||
U.S. federal | 104 | 100 | 0 | ||
U.S. state | 30 | 65 | 22 | ||
Total | 134 | 165 | 22 | ||
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||||
U.S. federal | 17 | 29 | 223 | ||
U.S. state | 24 | (41) | 38 | ||
Total | 41 | (12) | 261 | ||
Deferred investment tax credits | (2) | 2 | (3) | ||
Total income tax expense | 173 | 155 | [1] | 280 | [1] |
Southern California Gas Company [Member] | |||||
Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||||
Pretax income | 493 | 557 | 493 | ||
Current Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||||
U.S. federal | 4 | 0 | 0 | ||
U.S. state | 10 | 23 | 40 | ||
Total | 14 | 23 | 40 | ||
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||||
U.S. federal | 78 | 144 | 123 | ||
U.S. state | 2 | (5) | (18) | ||
Total | 80 | 139 | 105 | ||
Deferred investment tax credits | (2) | (2) | (2) | ||
Total income tax expense | $ 92 | $ 160 | [1] | $ 143 | [1] |
[1] | As adjusted for the retrospective adoption of ASU 2017-07, which we discuss in Note 2 , and a reclassification to conform to current year presentation, which we discuss in Note 1 |
INCOME TAXES - DEFERRED INCOME
INCOME TAXES - DEFERRED INCOME TAXES (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Deferred Tax Assets, Gross [Abstract] | ||
Less: valuation allowances | $ 164 | $ 133 |
Deferred income taxes, noncurrent | 151 | 170 |
Deferred income taxes | 2,571 | 2,767 |
Sempra Energy Consolidated [Member] | ||
Deferred Tax Liabilities, Gross [Abstract] | ||
Differences in financial and tax bases of fixed assets, investments and other assets | 3,780 | 4,233 |
U.S. state and non-U.S. withholding tax on repatriation of foreign earnings | 382 | 360 |
Regulatory balancing accounts | 359 | 376 |
Property taxes | 41 | 37 |
Other deferred income tax liabilities | 130 | 117 |
Total deferred income tax liabilities | 4,692 | 5,123 |
Deferred Tax Assets, Gross [Abstract] | ||
Tax credits | 1,114 | 1,066 |
Net operating losses | 725 | 968 |
Compensation-related items | 181 | 199 |
Postretirement benefits | 255 | 251 |
Other deferred income tax assets | 92 | 115 |
Accrued expenses not yet deductible | 69 | 60 |
Deferred income tax assets before valuation allowances | 2,436 | 2,659 |
Less: valuation allowances | 164 | 133 |
Total deferred income tax assets | 2,272 | 2,526 |
Net deferred income tax liability | 2,420 | 2,597 |
Deferred income taxes, noncurrent | 151 | 170 |
Deferred income taxes | 2,571 | 2,767 |
San Diego Gas and Electric Company [Member] | ||
Deferred Tax Liabilities, Gross [Abstract] | ||
Differences in financial and tax bases of fixed assets, investments and other assets | 1,578 | 1,472 |
Regulatory balancing accounts | 84 | 113 |
Property taxes | 29 | 26 |
Other deferred income tax liabilities | 10 | 10 |
Total deferred income tax liabilities | 1,701 | 1,621 |
Deferred Tax Assets, Gross [Abstract] | ||
Tax credits | 6 | 7 |
Net operating losses | 0 | 0 |
Compensation-related items | 5 | 5 |
Postretirement benefits | 58 | 43 |
Other deferred income tax assets | 6 | 19 |
State income taxes | 6 | 14 |
Accrued expenses not yet deductible | 4 | 3 |
Total deferred income tax assets | 85 | 91 |
Net deferred income tax liability | 1,616 | 1,530 |
Deferred income taxes | 1,616 | 1,530 |
Southern California Gas Company [Member] | ||
Deferred Tax Liabilities, Gross [Abstract] | ||
Differences in financial and tax bases of fixed assets, investments and other assets | 1,077 | 987 |
Regulatory balancing accounts | 283 | 271 |
Property taxes | 13 | 12 |
Other deferred income tax liabilities | 2 | 1 |
Total deferred income tax liabilities | 1,375 | 1,271 |
Deferred Tax Assets, Gross [Abstract] | ||
Tax credits | 3 | 15 |
Net operating losses | 0 | 58 |
Compensation-related items | 25 | 25 |
Postretirement benefits | 140 | 152 |
Other deferred income tax assets | 14 | 7 |
State income taxes | 3 | 7 |
Accrued expenses not yet deductible | 13 | 12 |
Total deferred income tax assets | 198 | 276 |
Net deferred income tax liability | 1,177 | 995 |
Deferred income taxes | $ 1,177 | $ 995 |
INCOME TAXES - NET OPERATING LO
INCOME TAXES - NET OPERATING LOSSES AND TAX CREDIT CARRYFORWARDS (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Operating Loss Carryforwards [Line Items] | ||
Valuation allowances | $ 164 | $ 133 |
U.S. Federal [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
NOLs | 2,688 | |
U.S. Federal [Member] | General business tax credits [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Tax credits | 417 | |
U.S. Federal [Member] | Foreign tax credits [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Tax credits | 624 | |
Valuation allowances | 109 | 83 |
U.S. state [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
NOLs | 1,942 | |
U.S. state [Member] | General business tax credits [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Tax credits | 82 | |
U.S. state [Member] | Deferred Tax Assets, Operating Loss and Tax Credit Carryforwards [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Valuation allowances | 35 | 30 |
Non-U.S. [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
NOLs | 264 | |
Non-U.S. [Member] | Deferred Tax Assets, Operating Loss Carryforwards [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Valuation allowances | $ 20 | $ 20 |
INCOME TAXES - UNRECOGNIZED TAX
INCOME TAXES - UNRECOGNIZED TAX BENEFITS (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Reconciliation of Unrecognized Tax Benefits | |||
Beginning balance | $ 89 | $ 90 | $ 87 |
Increase in prior period tax positions | 7 | 22 | 2 |
Decrease in prior period tax positions | (1) | (15) | (2) |
Increase in current period tax positions | 24 | 4 | 6 |
Settlements with taxing authorities | 0 | (12) | (3) |
Ending balance | 119 | 89 | 90 |
Of the total, amounts related to tax positions that, if recognized, in future years, would decrease the effective tax rate | (107) | (77) | (87) |
Of the total, amounts related to tax positions that, if recognized, in future years, would increase the effective tax rate | 24 | 20 | 36 |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued [Abstract] | |||
Accrued interest and penalties | 1 | 0 | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense [Abstract] | |||
Interest income and penalties on unrecognized income tax benefits | 1 | 0 | 0 |
San Diego Gas and Electric Company [Member] | |||
Reconciliation of Unrecognized Tax Benefits | |||
Beginning balance | 10 | 22 | 20 |
Increase in prior period tax positions | 1 | 9 | 0 |
Decrease in prior period tax positions | 0 | (11) | 0 |
Increase in current period tax positions | 0 | 0 | 2 |
Settlements with taxing authorities | 0 | (10) | 0 |
Ending balance | 11 | 10 | 22 |
Of the total, amounts related to tax positions that, if recognized, in future years, would decrease the effective tax rate | (9) | (7) | (19) |
Of the total, amounts related to tax positions that, if recognized, in future years, would increase the effective tax rate | 1 | 1 | 13 |
Southern California Gas Company [Member] | |||
Reconciliation of Unrecognized Tax Benefits | |||
Beginning balance | 35 | 29 | 27 |
Increase in prior period tax positions | 2 | 3 | 0 |
Decrease in prior period tax positions | 0 | 0 | (2) |
Increase in current period tax positions | 24 | 4 | 4 |
Settlements with taxing authorities | 0 | (1) | 0 |
Ending balance | 61 | 35 | 29 |
Of the total, amounts related to tax positions that, if recognized, in future years, would decrease the effective tax rate | (51) | (26) | (29) |
Of the total, amounts related to tax positions that, if recognized, in future years, would increase the effective tax rate | $ 23 | $ 20 | $ 24 |
INCOME TAXES - CHANGES IN UNREC
INCOME TAXES - CHANGES IN UNRECOGNIZED TAX BENEFITS (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items] | |||
Possible change in unrecognized tax benefits in next 12 months | $ (41) | $ (8) | $ (38) |
San Diego Gas and Electric Company [Member] | |||
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items] | |||
Possible change in unrecognized tax benefits in next 12 months | (6) | (6) | (11) |
Expiration of statutes of limitations on tax assessments [Member] | |||
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items] | |||
Possible change in unrecognized tax benefits in next 12 months | (1) | 0 | (2) |
Expiration of statutes of limitations on tax assessments [Member] | San Diego Gas and Electric Company [Member] | |||
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items] | |||
Possible change in unrecognized tax benefits in next 12 months | 0 | 0 | (1) |
Potential resolution of audit issues with various U.S. federal, state, and local non-U.S. taxing authorities [Member] | |||
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items] | |||
Possible change in unrecognized tax benefits in next 12 months | (40) | (8) | (36) |
Potential resolution of audit issues with various U.S. federal, state, and local non-U.S. taxing authorities [Member] | San Diego Gas and Electric Company [Member] | |||
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items] | |||
Possible change in unrecognized tax benefits in next 12 months | (6) | (6) | (10) |
Potential resolution of audit issues with various U.S. federal, state, and local non-U.S. taxing authorities [Member] | Southern California Gas Company [Member] | |||
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items] | |||
Possible change in unrecognized tax benefits in next 12 months | $ (2) | $ (2) | $ (25) |
EMPLOYEE BENEFIT PLANS - NARRAT
EMPLOYEE BENEFIT PLANS - NARRATIVE (Details) - USD ($) $ in Millions | Mar. 09, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Defined Benefit Plan Disclosure [Line Items] | ||||
Dedicated assets in support of certain benefit plans | $ 416 | $ 455 | ||
Benefit obligation payment for settlement | 54 | |||
Pension Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan amendments | 12 | 1 | ||
Plan assets, payment for settlement | 394 | 194 | ||
Settlement charges | 12 | 8 | $ 0 | |
Increase due to business combination | 0 | 0 | ||
Increase in liability due to special termination benefits | 0 | 0 | ||
Settlements | 394 | 194 | 75 | |
Settlement charge | 38 | 16 | ||
Other Postretirement Benefits Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan amendments | 0 | 0 | ||
Plan assets, payment for settlement | 0 | 0 | ||
Settlement charges | 0 | 0 | 0 | |
Increase due to business combination | 21 | 0 | ||
Increase in liability due to special termination benefits | 5 | 18 | 26 | |
Settlements | 0 | 0 | ||
San Diego Gas and Electric Company [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan amendments | 8 | 0 | ||
Plan assets, payment for settlement | 145 | 0 | ||
Settlement charges | 4 | 0 | 0 | |
Increase in liability due to special termination benefits | 0 | 0 | ||
Settlements | 145 | 0 | 75 | |
Settlement charge | 16 | |||
San Diego Gas and Electric Company [Member] | Other Postretirement Benefits Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan amendments | 0 | 0 | ||
Plan assets, payment for settlement | 0 | 0 | ||
Settlement charges | 0 | 0 | 0 | |
Increase in liability due to special termination benefits | 3 | 0 | 14 | |
Settlements | 0 | 0 | ||
Southern California Gas Company [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets, payment for settlement | 231 | 175 | ||
Increase in liability due to special termination benefits | 0 | 0 | ||
Settlements | 231 | 175 | ||
Settlement charge | 30 | |||
Southern California Gas Company [Member] | Other Postretirement Benefits Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets, payment for settlement | 0 | 0 | ||
Increase in liability due to special termination benefits | 2 | 18 | $ 11 | |
Settlements | 0 | 0 | ||
Qualified Plan [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets, payment for settlement | 363 | |||
Qualified Plan [Member] | San Diego Gas and Electric Company [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets, payment for settlement | 132 | |||
Benefit obligation payment for settlement | 22 | |||
Qualified Plan [Member] | Southern California Gas Company [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets, payment for settlement | 231 | |||
Benefit obligation payment for settlement | 32 | |||
Nonqualified Plan [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Benefit obligation payment for settlement | 12 | $ 8 | ||
Nonqualified Plan [Member] | San Diego Gas and Electric Company [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Benefit obligation payment for settlement | $ 4 | |||
Sempra Texas Holdings Corp [Member] | Sempra Texas Intermediate Holding Company LLC [Member] | Other Postretirement Benefits Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Increase due to business combination | $ 21 | |||
Sempra Texas Holdings Corp [Member] | Oncor Electric Delivery Company LLC [Member] | Sempra Texas Intermediate Holding Company LLC [Member] | Other Postretirement Benefits Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Gain (loss) arising during the period | $ 27 |
EMPLOYEE BENEFIT PLANS - EMPLOY
EMPLOYEE BENEFIT PLANS - EMPLOYEE BENEFIT PLANS (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Liability, Defined Benefit Plan [Abstract] | |||
Noncurrent liabilities | $ (1,161,000,000) | $ (1,148,000,000) | |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | |||
Expected return on plan assets | 7.00% | ||
Pension Plan [Member] | |||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Beginning balance | $ 3,857,000,000 | 3,679,000,000 | |
Service cost | 124,000,000 | 117,000,000 | $ 107,000,000 |
Interest cost | 141,000,000 | 151,000,000 | 160,000,000 |
Contributions from plan participants | 0 | 0 | |
Actuarial (gain) loss | (269,000,000) | 286,000,000 | |
Plan amendments | 12,000,000 | 1,000,000 | |
Benefit payments | (115,000,000) | (182,000,000) | |
Special termination benefits | 0 | 0 | |
Acquisition | 0 | 0 | |
Curtailments | 0 | (1,000,000) | |
Settlements | (394,000,000) | (194,000,000) | (75,000,000) |
Ending balance | 3,356,000,000 | 3,857,000,000 | 3,679,000,000 |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Actual return on plan assets | (180,000,000) | 421,000,000 | |
Employer contributions | 190,000,000 | 155,000,000 | |
Contributions from plan participants | 0 | 0 | |
Benefit payments | (115,000,000) | (182,000,000) | |
Settlements | (394,000,000) | (194,000,000) | |
Ending balance | 2,160,000,000 | 2,659,000,000 | 2,459,000,000 |
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract] | |||
Funded status | (1,196,000,000) | (1,198,000,000) | |
Net recorded (liability) asset at December 31 | (1,196,000,000) | (1,198,000,000) | |
Liability, Defined Benefit Plan [Abstract] | |||
Noncurrent assets | 0 | 0 | |
Current liabilities | (65,000,000) | (69,000,000) | |
Noncurrent liabilities | (1,131,000,000) | (1,129,000,000) | |
Net recorded (liability) asset | (1,196,000,000) | (1,198,000,000) | |
Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax [Abstract] | |||
Net actuarial (loss) gain | (114,000,000) | (84,000,000) | |
Prior service cost | (12,000,000) | (4,000,000) | |
Total | (126,000,000) | (88,000,000) | |
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets [Abstract] | |||
Projected benefit obligation | 3,130,000,000 | 3,623,000,000 | |
Accumulated benefit obligation | 2,894,000,000 | 3,334,000,000 | |
Fair value of plan assets | 2,160,000,000 | 2,659,000,000 | |
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | |||
Service cost | 124,000,000 | 117,000,000 | 107,000,000 |
Interest cost | 141,000,000 | 151,000,000 | 160,000,000 |
Expected return on assets | (157,000,000) | (161,000,000) | (166,000,000) |
Amortization of Prior service cost (credit) | 11,000,000 | 11,000,000 | 11,000,000 |
Amortization of actuarial loss (gain) | 23,000,000 | 36,000,000 | 30,000,000 |
Settlement charges | 66,000,000 | 38,000,000 | 16,000,000 |
Special termination benefits | 0 | 0 | 0 |
Net periodic benefit cost | 208,000,000 | 192,000,000 | 158,000,000 |
Regulatory adjustment | (30,000,000) | (42,000,000) | (57,000,000) |
Total expense recognized | 178,000,000 | 150,000,000 | 101,000,000 |
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, before Tax [Abstract] | |||
Net loss (gain) | 56,000,000 | 0 | 26,000,000 |
Prior service cost | 12,000,000 | 1,000,000 | 0 |
Amortization of actuarial loss | (12,000,000) | (10,000,000) | (10,000,000) |
Amortization of prior service cost | (2,000,000) | (1,000,000) | (1,000,000) |
Other Comprehensive Income (Loss), Defined Benefit Plan, Settlement and Curtailment Gain (Loss), before Tax | (12,000,000) | (8,000,000) | 0 |
Total recognized in OCI | 42,000,000 | (18,000,000) | 15,000,000 |
Total recognized in net periodic benefit cost and OCI | $ 220,000,000 | $ 132,000,000 | $ 116,000,000 |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | |||
Discount rate | 4.30% | 3.65% | |
Interest crediting rate | 3.36% | 2.80% | |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | |||
Discount rate | 3.65% | 4.08% | 4.46% |
Expected return on plan assets | 7.00% | 7.00% | 7.00% |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Interest Crediting Rate | 2.80% | 2.86% | 3.03% |
Defined Benefit Plan, Effect of One-Percentage Point Change in Assumed Health Care Cost Trend Rate [Abstract] | |||
Expected employer contributions | $ 228,000,000 | ||
Defined Benefit Plan, Expected Future Benefit Payment [Abstract] | |||
2,019 | 416,000,000 | ||
2,020 | 270,000,000 | ||
2,021 | 268,000,000 | ||
2,022 | 246,000,000 | ||
2,023 | 236,000,000 | ||
2024-2028 | $ 1,097,000,000 | ||
Pension Plan [Member] | Maximum [Member] | |||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | |||
Rate of compensation increase | 10.00% | 10.00% | |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | |||
Rate of compensation increase | 10.00% | 10.00% | 10.00% |
Pension Plan [Member] | Minimum [Member] | |||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | |||
Rate of compensation increase | 2.00% | 2.00% | |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | |||
Rate of compensation increase | 2.00% | 2.00% | 2.00% |
Other Postretirement Benefits Plan [Member] | |||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Beginning balance | $ 963,000,000 | $ 922,000,000 | |
Service cost | 21,000,000 | 21,000,000 | $ 20,000,000 |
Interest cost | 36,000,000 | 39,000,000 | 42,000,000 |
Contributions from plan participants | 23,000,000 | 20,000,000 | |
Actuarial (gain) loss | (123,000,000) | 6,000,000 | |
Plan amendments | 0 | 0 | |
Benefit payments | (74,000,000) | (63,000,000) | |
Special termination benefits | 5,000,000 | 18,000,000 | 26,000,000 |
Acquisition | 21,000,000 | 0 | |
Curtailments | 0 | 0 | |
Settlements | 0 | 0 | |
Ending balance | 872,000,000 | 963,000,000 | 922,000,000 |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Actual return on plan assets | (56,000,000) | 185,000,000 | |
Employer contributions | 6,000,000 | 10,000,000 | |
Contributions from plan participants | 23,000,000 | 20,000,000 | |
Benefit payments | (74,000,000) | (63,000,000) | |
Settlements | 0 | 0 | |
Ending balance | 1,108,000,000 | 1,209,000,000 | 1,057,000,000 |
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract] | |||
Funded status | 236,000,000 | 246,000,000 | |
Net recorded (liability) asset at December 31 | 236,000,000 | 246,000,000 | |
Liability, Defined Benefit Plan [Abstract] | |||
Noncurrent assets | 272,000,000 | 266,000,000 | |
Current liabilities | (6,000,000) | (1,000,000) | |
Noncurrent liabilities | (30,000,000) | (19,000,000) | |
Net recorded (liability) asset | 236,000,000 | 246,000,000 | |
Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax [Abstract] | |||
Net actuarial (loss) gain | 8,000,000 | 4,000,000 | |
Prior service cost | 0 | 0 | |
Total | 8,000,000 | 4,000,000 | |
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | |||
Service cost | 21,000,000 | 21,000,000 | 20,000,000 |
Interest cost | 36,000,000 | 39,000,000 | 42,000,000 |
Expected return on assets | (70,000,000) | (66,000,000) | (69,000,000) |
Amortization of Prior service cost (credit) | 1,000,000 | 1,000,000 | 0 |
Amortization of actuarial loss (gain) | (6,000,000) | (4,000,000) | (1,000,000) |
Settlement charges | 0 | 0 | 0 |
Special termination benefits | 5,000,000 | 18,000,000 | 26,000,000 |
Net periodic benefit cost | (13,000,000) | 9,000,000 | 18,000,000 |
Regulatory adjustment | 17,000,000 | 0 | (11,000,000) |
Total expense recognized | 4,000,000 | 9,000,000 | 7,000,000 |
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, before Tax [Abstract] | |||
Net loss (gain) | (4,000,000) | (2,000,000) | (2,000,000) |
Prior service cost | 0 | 0 | 0 |
Amortization of actuarial loss | 0 | 0 | 0 |
Amortization of prior service cost | 0 | 0 | 0 |
Other Comprehensive Income (Loss), Defined Benefit Plan, Settlement and Curtailment Gain (Loss), before Tax | 0 | 0 | 0 |
Total recognized in OCI | (4,000,000) | (2,000,000) | (2,000,000) |
Total recognized in net periodic benefit cost and OCI | $ 0 | $ 7,000,000 | $ 5,000,000 |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | |||
Discount rate | 4.30% | 3.70% | |
Interest crediting rate | 3.36% | 2.80% | |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | |||
Discount rate | 3.70% | 4.19% | 4.49% |
Expected return on plan assets | 6.49% | 6.47% | 6.98% |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Interest Crediting Rate | 2.80% | 2.86% | 3.03% |
Defined Benefit Plan, Effect of One-Percentage Point Change in Assumed Health Care Cost Trend Rate [Abstract] | |||
Expected employer contributions | $ 10,000,000 | ||
Defined Benefit Plan, Expected Future Benefit Payment [Abstract] | |||
2,019 | 54,000,000 | ||
2,020 | 51,000,000 | ||
2,021 | 52,000,000 | ||
2,022 | 52,000,000 | ||
2,023 | 52,000,000 | ||
2024-2028 | $ 257,000,000 | ||
Other Postretirement Benefits Plan [Member] | Pre-65Retiree [Member] | |||
Defined Benefit Plan, Assumed Health Care Cost Trend Rates [Abstract] | |||
Health care cost trend rate assumed for next year | 6.50% | 7.00% | 8.00% |
Rate to which the cost trend rate is assumed to decline (the ultimate trend) | 4.75% | 5.00% | 5.00% |
Other Postretirement Benefits Plan [Member] | Retiree Aged 65 or Older [Member] | |||
Defined Benefit Plan, Assumed Health Care Cost Trend Rates [Abstract] | |||
Health care cost trend rate assumed for next year | 4.75% | 5.00% | 5.50% |
Rate to which the cost trend rate is assumed to decline (the ultimate trend) | 4.50% | 4.50% | 4.50% |
Other Postretirement Benefits Plan [Member] | Maximum [Member] | |||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | |||
Rate of compensation increase | 10.00% | 10.00% | |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | |||
Rate of compensation increase | 10.00% | 10.00% | 10.00% |
Other Postretirement Benefits Plan [Member] | Minimum [Member] | |||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | |||
Rate of compensation increase | 2.00% | 2.00% | |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | |||
Rate of compensation increase | 2.00% | 2.00% | 2.00% |
Southern California Gas Company [Member] | Pension Plan [Member] | |||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Beginning balance | $ 2,486,000,000 | $ 2,343,000,000 | |
Service cost | 81,000,000 | 76,000,000 | $ 67,000,000 |
Interest cost | 92,000,000 | 98,000,000 | 101,000,000 |
Contributions from plan participants | 0 | 0 | |
Actuarial (gain) loss | (215,000,000) | 216,000,000 | |
Benefit payments | (65,000,000) | (73,000,000) | |
Special termination benefits | 0 | 0 | |
Settlements | (231,000,000) | (175,000,000) | |
Transfer of liability from other plans | 0 | 1,000,000 | |
Ending balance | 2,148,000,000 | 2,486,000,000 | 2,343,000,000 |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Actual return on plan assets | (117,000,000) | 269,000,000 | |
Employer contributions | 104,000,000 | 93,000,000 | |
Contributions from plan participants | 0 | 0 | |
Benefit payments | (65,000,000) | (73,000,000) | |
Settlements | (231,000,000) | (175,000,000) | |
Transfer of assets from other plans | 0 | 1,000,000 | |
Ending balance | 1,385,000,000 | 1,694,000,000 | 1,579,000,000 |
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract] | |||
Funded status | (763,000,000) | (792,000,000) | |
Net recorded (liability) asset at December 31 | (763,000,000) | (792,000,000) | |
Liability, Defined Benefit Plan [Abstract] | |||
Noncurrent assets | 0 | 0 | |
Current liabilities | (3,000,000) | (3,000,000) | |
Noncurrent liabilities | (760,000,000) | (789,000,000) | |
Net recorded (liability) asset | (763,000,000) | (792,000,000) | |
Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax [Abstract] | |||
Net actuarial (loss) gain | (6,000,000) | (6,000,000) | |
Prior service cost | (2,000,000) | (2,000,000) | |
Total | (8,000,000) | (8,000,000) | |
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets [Abstract] | |||
Projected benefit obligation | 2,123,000,000 | 2,462,000,000 | |
Accumulated benefit obligation | 1,919,000,000 | 2,220,000,000 | |
Fair value of plan assets | 1,385,000,000 | 1,694,000,000 | |
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | |||
Service cost | 81,000,000 | 76,000,000 | 67,000,000 |
Interest cost | 92,000,000 | 98,000,000 | 101,000,000 |
Expected return on assets | (98,000,000) | (103,000,000) | (103,000,000) |
Amortization of Prior service cost (credit) | 8,000,000 | 9,000,000 | 9,000,000 |
Amortization of actuarial loss (gain) | 13,000,000 | 19,000,000 | 11,000,000 |
Settlement charges | 32,000,000 | 30,000,000 | 0 |
Special termination benefits | 0 | 0 | 0 |
Net periodic benefit cost | 128,000,000 | 129,000,000 | 85,000,000 |
Regulatory adjustment | (22,000,000) | (34,000,000) | (12,000,000) |
Total expense recognized | 106,000,000 | 95,000,000 | 73,000,000 |
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, before Tax [Abstract] | |||
Net loss (gain) | 1,000,000 | 0 | 4,000,000 |
Prior service cost | 0 | 0 | 2,000,000 |
Amortization of prior service cost | (1,000,000) | (1,000,000) | 0 |
Total recognized in OCI | 0 | (1,000,000) | 6,000,000 |
Total recognized in net periodic benefit cost and OCI | $ 106,000,000 | $ 94,000,000 | $ 79,000,000 |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | |||
Discount rate | 4.30% | 3.65% | |
Interest crediting rate | 3.36% | 2.80% | |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | |||
Discount rate | 3.65% | 4.10% | 4.50% |
Expected return on plan assets | 7.00% | 7.00% | 7.00% |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Interest Crediting Rate | 2.80% | 2.86% | 3.03% |
Defined Benefit Plan, Effect of One-Percentage Point Change in Assumed Health Care Cost Trend Rate [Abstract] | |||
Expected employer contributions | $ 118,000,000 | ||
Defined Benefit Plan, Expected Future Benefit Payment [Abstract] | |||
2,019 | 207,000,000 | ||
2,020 | 159,000,000 | ||
2,021 | 154,000,000 | ||
2,022 | 152,000,000 | ||
2,023 | 149,000,000 | ||
2024-2028 | $ 698,000,000 | ||
Southern California Gas Company [Member] | Pension Plan [Member] | Maximum [Member] | |||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | |||
Rate of compensation increase | 10.00% | 10.00% | |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | |||
Rate of compensation increase | 10.00% | 10.00% | 10.00% |
Southern California Gas Company [Member] | Pension Plan [Member] | Minimum [Member] | |||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | |||
Rate of compensation increase | 2.00% | 2.00% | |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | |||
Rate of compensation increase | 2.00% | 2.00% | 2.00% |
Southern California Gas Company [Member] | Other Postretirement Benefits Plan [Member] | |||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Beginning balance | $ 737,000,000 | $ 691,000,000 | |
Service cost | 15,000,000 | 14,000,000 | $ 14,000,000 |
Interest cost | 27,000,000 | 29,000,000 | 32,000,000 |
Contributions from plan participants | 14,000,000 | 13,000,000 | |
Actuarial (gain) loss | (100,000,000) | 16,000,000 | |
Benefit payments | (49,000,000) | (44,000,000) | |
Special termination benefits | 2,000,000 | 18,000,000 | 11,000,000 |
Settlements | 0 | 0 | |
Transfer of liability from other plans | 0 | 0 | |
Ending balance | 646,000,000 | 737,000,000 | 691,000,000 |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Actual return on plan assets | (43,000,000) | 151,000,000 | |
Employer contributions | 1,000,000 | 3,000,000 | |
Contributions from plan participants | 14,000,000 | 13,000,000 | |
Benefit payments | (49,000,000) | (44,000,000) | |
Settlements | 0 | 0 | |
Transfer of assets from other plans | 0 | 0 | |
Ending balance | 916,000,000 | 993,000,000 | 870,000,000 |
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract] | |||
Funded status | 270,000,000 | 256,000,000 | |
Net recorded (liability) asset at December 31 | 270,000,000 | 256,000,000 | |
Liability, Defined Benefit Plan [Abstract] | |||
Noncurrent assets | 270,000,000 | 256,000,000 | |
Current liabilities | 0 | 0 | |
Noncurrent liabilities | 0 | 0 | |
Net recorded (liability) asset | 270,000,000 | 256,000,000 | |
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | |||
Service cost | 15,000,000 | 14,000,000 | 14,000,000 |
Interest cost | 27,000,000 | 29,000,000 | 32,000,000 |
Expected return on assets | (56,000,000) | (53,000,000) | (56,000,000) |
Amortization of Prior service cost (credit) | (3,000,000) | (3,000,000) | (4,000,000) |
Amortization of actuarial loss (gain) | (2,000,000) | (3,000,000) | 0 |
Settlement charges | 0 | 0 | 0 |
Special termination benefits | 2,000,000 | 18,000,000 | 11,000,000 |
Net periodic benefit cost | (17,000,000) | 2,000,000 | (3,000,000) |
Regulatory adjustment | 17,000,000 | 0 | 3,000,000 |
Total expense recognized | 0 | 2,000,000 | 0 |
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, before Tax [Abstract] | |||
Net loss (gain) | 0 | 0 | 0 |
Prior service cost | 0 | 0 | 0 |
Amortization of prior service cost | 0 | 0 | 0 |
Total recognized in OCI | 0 | 0 | 0 |
Total recognized in net periodic benefit cost and OCI | $ 0 | $ 2,000,000 | $ 0 |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | |||
Discount rate | 4.30% | 3.70% | |
Interest crediting rate | 3.36% | 2.80% | |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | |||
Discount rate | 3.70% | 4.20% | 4.50% |
Expected return on plan assets | 6.38% | 6.37% | 7.00% |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Interest Crediting Rate | 2.80% | 2.86% | 3.03% |
Defined Benefit Plan, Effect of One-Percentage Point Change in Assumed Health Care Cost Trend Rate [Abstract] | |||
Expected employer contributions | $ 1,000,000 | ||
Defined Benefit Plan, Expected Future Benefit Payment [Abstract] | |||
2,019 | 36,000,000 | ||
2,020 | 36,000,000 | ||
2,021 | 37,000,000 | ||
2,022 | 37,000,000 | ||
2,023 | 38,000,000 | ||
2024-2028 | $ 187,000,000 | ||
Southern California Gas Company [Member] | Other Postretirement Benefits Plan [Member] | Maximum [Member] | |||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | |||
Rate of compensation increase | 10.00% | 10.00% | |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | |||
Rate of compensation increase | 10.00% | 10.00% | 10.00% |
Southern California Gas Company [Member] | Other Postretirement Benefits Plan [Member] | Minimum [Member] | |||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | |||
Rate of compensation increase | 2.00% | 2.00% | |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | |||
Rate of compensation increase | 2.00% | 2.00% | 2.00% |
San Diego Gas and Electric Company [Member] | |||
Liability, Defined Benefit Plan [Abstract] | |||
Noncurrent liabilities | $ (212,000,000) | $ (182,000,000) | |
San Diego Gas and Electric Company [Member] | Pension Plan [Member] | |||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Beginning balance | 971,000,000 | 935,000,000 | |
Service cost | 30,000,000 | 29,000,000 | $ 29,000,000 |
Interest cost | 35,000,000 | 38,000,000 | 41,000,000 |
Contributions from plan participants | 0 | 0 | |
Actuarial (gain) loss | (63,000,000) | 50,000,000 | |
Plan amendments | 8,000,000 | 0 | |
Benefit payments | (22,000,000) | (83,000,000) | |
Special termination benefits | 0 | 0 | |
Settlements | (145,000,000) | 0 | (75,000,000) |
Transfer of liability from other plans | 0 | 2,000,000 | |
Ending balance | 814,000,000 | 971,000,000 | 935,000,000 |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Actual return on plan assets | (56,000,000) | 120,000,000 | |
Employer contributions | 47,000,000 | 22,000,000 | |
Contributions from plan participants | 0 | 0 | |
Benefit payments | (22,000,000) | (83,000,000) | |
Settlements | (145,000,000) | 0 | |
Transfer of assets from other plans | 0 | 3,000,000 | |
Ending balance | 600,000,000 | 776,000,000 | 714,000,000 |
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract] | |||
Funded status | (214,000,000) | (195,000,000) | |
Net recorded (liability) asset at December 31 | (214,000,000) | (195,000,000) | |
Liability, Defined Benefit Plan [Abstract] | |||
Noncurrent assets | 0 | 0 | |
Current liabilities | (2,000,000) | (13,000,000) | |
Noncurrent liabilities | (212,000,000) | (182,000,000) | |
Net recorded (liability) asset | (214,000,000) | (195,000,000) | |
Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax [Abstract] | |||
Net actuarial (loss) gain | (4,000,000) | (8,000,000) | |
Prior service cost | (6,000,000) | 0 | |
Total | (10,000,000) | (8,000,000) | |
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets [Abstract] | |||
Projected benefit obligation | 788,000,000 | 939,000,000 | |
Accumulated benefit obligation | 762,000,000 | 900,000,000 | |
Fair value of plan assets | 600,000,000 | 776,000,000 | |
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | |||
Service cost | 30,000,000 | 29,000,000 | 29,000,000 |
Interest cost | 35,000,000 | 38,000,000 | 41,000,000 |
Expected return on assets | (47,000,000) | (47,000,000) | (49,000,000) |
Amortization of Prior service cost (credit) | 2,000,000 | 1,000,000 | 1,000,000 |
Amortization of actuarial loss (gain) | 1,000,000 | 9,000,000 | 10,000,000 |
Settlement charges | 26,000,000 | 0 | 16,000,000 |
Special termination benefits | 0 | 0 | 0 |
Net periodic benefit cost | 47,000,000 | 30,000,000 | 48,000,000 |
Regulatory adjustment | (8,000,000) | (8,000,000) | (45,000,000) |
Total expense recognized | 39,000,000 | 22,000,000 | 3,000,000 |
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, before Tax [Abstract] | |||
Net loss (gain) | (1,000,000) | 2,000,000 | 1,000,000 |
Prior service cost | 8,000,000 | 0 | 0 |
Amortization of actuarial loss | (1,000,000) | (1,000,000) | (1,000,000) |
Other Comprehensive Income (Loss), Defined Benefit Plan, Settlement and Curtailment Gain (Loss), before Tax | (4,000,000) | 0 | 0 |
Total recognized in OCI | 2,000,000 | 1,000,000 | 0 |
Total recognized in net periodic benefit cost and OCI | $ 41,000,000 | $ 23,000,000 | $ 3,000,000 |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | |||
Discount rate | 4.29% | 3.64% | |
Interest crediting rate | 3.36% | 2.80% | |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | |||
Discount rate | 3.64% | 4.08% | 4.35% |
Expected return on plan assets | 7.00% | 7.00% | 7.00% |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Interest Crediting Rate | 2.80% | 2.86% | 3.03% |
Defined Benefit Plan, Effect of One-Percentage Point Change in Assumed Health Care Cost Trend Rate [Abstract] | |||
Expected employer contributions | $ 40,000,000 | ||
Defined Benefit Plan, Expected Future Benefit Payment [Abstract] | |||
2,019 | 109,000,000 | ||
2,020 | 69,000,000 | ||
2,021 | 64,000,000 | ||
2,022 | 61,000,000 | ||
2,023 | 62,000,000 | ||
2024-2028 | $ 282,000,000 | ||
San Diego Gas and Electric Company [Member] | Pension Plan [Member] | Maximum [Member] | |||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | |||
Rate of compensation increase | 10.00% | 10.00% | |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | |||
Rate of compensation increase | 10.00% | 10.00% | 10.00% |
San Diego Gas and Electric Company [Member] | Pension Plan [Member] | Minimum [Member] | |||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | |||
Rate of compensation increase | 2.00% | 2.00% | |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | |||
Rate of compensation increase | 2.00% | 2.00% | 2.00% |
San Diego Gas and Electric Company [Member] | Other Postretirement Benefits Plan [Member] | |||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Beginning balance | $ 185,000,000 | $ 190,000,000 | |
Service cost | 5,000,000 | 5,000,000 | $ 5,000,000 |
Interest cost | 7,000,000 | 8,000,000 | 7,000,000 |
Contributions from plan participants | 8,000,000 | 7,000,000 | |
Actuarial (gain) loss | (17,000,000) | (9,000,000) | |
Plan amendments | 0 | 0 | |
Benefit payments | (21,000,000) | (16,000,000) | |
Special termination benefits | 3,000,000 | 0 | 14,000,000 |
Settlements | 0 | 0 | |
Transfer of liability from other plans | 0 | 0 | |
Ending balance | 170,000,000 | 185,000,000 | 190,000,000 |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Actual return on plan assets | (12,000,000) | 30,000,000 | |
Employer contributions | 2,000,000 | 5,000,000 | |
Contributions from plan participants | 8,000,000 | 7,000,000 | |
Benefit payments | (21,000,000) | (16,000,000) | |
Settlements | 0 | 0 | |
Transfer of assets from other plans | 0 | 0 | |
Ending balance | 172,000,000 | 195,000,000 | 169,000,000 |
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract] | |||
Funded status | 2,000,000 | 10,000,000 | |
Net recorded (liability) asset at December 31 | 2,000,000 | 10,000,000 | |
Liability, Defined Benefit Plan [Abstract] | |||
Noncurrent assets | 2,000,000 | 10,000,000 | |
Current liabilities | 0 | 0 | |
Noncurrent liabilities | 0 | 0 | |
Net recorded (liability) asset | 2,000,000 | 10,000,000 | |
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | |||
Service cost | 5,000,000 | 5,000,000 | 5,000,000 |
Interest cost | 7,000,000 | 8,000,000 | 7,000,000 |
Expected return on assets | (13,000,000) | (11,000,000) | (12,000,000) |
Amortization of Prior service cost (credit) | 3,000,000 | 3,000,000 | 3,000,000 |
Amortization of actuarial loss (gain) | (3,000,000) | 0 | (1,000,000) |
Settlement charges | 0 | 0 | 0 |
Special termination benefits | 3,000,000 | 0 | 14,000,000 |
Net periodic benefit cost | 2,000,000 | 5,000,000 | 16,000,000 |
Regulatory adjustment | 0 | 0 | (14,000,000) |
Total expense recognized | 2,000,000 | 5,000,000 | 2,000,000 |
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, before Tax [Abstract] | |||
Net loss (gain) | 0 | 0 | 0 |
Prior service cost | 0 | 0 | 0 |
Amortization of actuarial loss | 0 | 0 | 0 |
Other Comprehensive Income (Loss), Defined Benefit Plan, Settlement and Curtailment Gain (Loss), before Tax | 0 | 0 | 0 |
Total recognized in OCI | 0 | 0 | 0 |
Total recognized in net periodic benefit cost and OCI | $ 2,000,000 | $ 5,000,000 | $ 2,000,000 |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | |||
Discount rate | 4.30% | 3.65% | |
Interest crediting rate | 3.36% | 2.80% | |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | |||
Discount rate | 3.65% | 4.15% | 4.50% |
Expected return on plan assets | 6.94% | 6.91% | 6.90% |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Interest Crediting Rate | 2.80% | 2.86% | 3.03% |
Defined Benefit Plan, Effect of One-Percentage Point Change in Assumed Health Care Cost Trend Rate [Abstract] | |||
Expected employer contributions | $ 0 | ||
Defined Benefit Plan, Expected Future Benefit Payment [Abstract] | |||
2,019 | 10,000,000 | ||
2,020 | 10,000,000 | ||
2,021 | 10,000,000 | ||
2,022 | 11,000,000 | ||
2,023 | 11,000,000 | ||
2024-2028 | $ 51,000,000 | ||
San Diego Gas and Electric Company [Member] | Other Postretirement Benefits Plan [Member] | Maximum [Member] | |||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | |||
Rate of compensation increase | 10.00% | 10.00% | |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | |||
Rate of compensation increase | 10.00% | 10.00% | 10.00% |
San Diego Gas and Electric Company [Member] | Other Postretirement Benefits Plan [Member] | Minimum [Member] | |||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | |||
Rate of compensation increase | 2.00% | 2.00% | |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | |||
Rate of compensation increase | 2.00% | 2.00% | 2.00% |
Unfunded Plan [Member] | Pension Plan [Member] | |||
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets [Abstract] | |||
Projected benefit obligation | $ 226,000,000 | $ 234,000,000 | |
Accumulated benefit obligation | 201,000,000 | 215,000,000 | |
Unfunded Plan [Member] | Other Postretirement Benefits Plan [Member] | |||
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets [Abstract] | |||
Accumulated benefit obligation | 26,000,000 | 9,000,000 | |
Unfunded Plan [Member] | Southern California Gas Company [Member] | Pension Plan [Member] | |||
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets [Abstract] | |||
Projected benefit obligation | 25,000,000 | 24,000,000 | |
Accumulated benefit obligation | 21,000,000 | 21,000,000 | |
Unfunded Plan [Member] | San Diego Gas and Electric Company [Member] | Pension Plan [Member] | |||
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets [Abstract] | |||
Projected benefit obligation | 26,000,000 | 32,000,000 | |
Accumulated benefit obligation | 19,000,000 | 30,000,000 | |
Funded Plan [Member] | Other Postretirement Benefits Plan [Member] | |||
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets [Abstract] | |||
Accumulated benefit obligation | 30,000,000 | 32,000,000 | |
Fair value of plan assets | $ 20,000,000 | $ 21,000,000 |
EMPLOYEE BENEFIT PLANS - PLAN A
EMPLOYEE BENEFIT PLANS - PLAN ASSETS (Details) | 12 Months Ended |
Dec. 31, 2018 | |
Defined Benefit Plan Disclosure [Line Items] | |
Expected return on plan assets | 7.00% |
Domestic Equity [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Targeted plan asset allocations | 35.00% |
International Equity [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Targeted plan asset allocations | 24.00% |
Long Credit [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Targeted plan asset allocations | 18.00% |
Ultra-long duration government securities [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Targeted plan asset allocations | 8.00% |
Defined Benefit Plan, Real Estate [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Targeted plan asset allocations | 5.00% |
Return Seeking Credit [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Targeted plan asset allocations | 5.00% |
Real Assets [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Targeted plan asset allocations | 5.00% |
Return Seeking Assets [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Asset allocations | 74.00% |
Risk Mitigating Assets [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Asset allocations | 26.00% |
Minimum [Member] | Return Seeking Assets [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Expected return on plan assets | 7.00% |
Minimum [Member] | Risk Mitigating Assets [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Expected return on plan assets | 3.00% |
Maximum [Member] | Return Seeking Assets [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Expected return on plan assets | 9.00% |
Maximum [Member] | Risk Mitigating Assets [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Expected return on plan assets | 5.00% |
Southern California Gas Company [Member] | Return Seeking Assets [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Asset allocations | 38.00% |
Southern California Gas Company [Member] | Risk Mitigating Assets [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Asset allocations | 62.00% |
EMPLOYEE BENEFIT PLANS - FAIR V
EMPLOYEE BENEFIT PLANS - FAIR VALUE OF PLAN ASSETS (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Pension Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | $ 2,160 | $ 2,659 | $ 2,459 |
Cash and cash equivalents excluded | 14 | 13 | |
Accounts payable excluded | 21 | 18 | |
Pension Plan [Member] | Equity Securities, Domestic [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 727 | 946 | |
Pension Plan [Member] | Equity Securities, International [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 437 | 538 | |
Pension Plan [Member] | Equity Securities, Registered Investment Company [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 74 | 102 | |
Pension Plan [Member] | Domestic government bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 226 | 269 | |
Pension Plan [Member] | International government bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 8 | 12 | |
Pension Plan [Member] | Domestic corporate bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 311 | 338 | |
Pension Plan [Member] | International corporate bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 53 | 64 | |
Pension Plan [Member] | Registered investment companies [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 1 | 6 | |
Pension Plan [Member] | Other Investments [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 1 | ||
Pension Plan [Member] | Total investment assets in the fair value hierarchy [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 1,837 | 2,276 | |
Pension Plan [Member] | Common/collective trusts [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments measured at NAV | 326 | 384 | |
Pension Plan [Member] | Private Equity Funds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments measured at NAV | 4 | 4 | |
Pension Plan [Member] | Total fair value of plan assets excluding cash and cash equivalents and accounts payable [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 2,167 | 2,664 | |
Pension Plan [Member] | Level 1 [Member] | Equity Securities, Domestic [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 727 | 946 | |
Pension Plan [Member] | Level 1 [Member] | Equity Securities, International [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 437 | 538 | |
Pension Plan [Member] | Level 1 [Member] | Equity Securities, Registered Investment Company [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 74 | 102 | |
Pension Plan [Member] | Level 1 [Member] | Domestic government bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 197 | 242 | |
Pension Plan [Member] | Level 1 [Member] | International government bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plan [Member] | Level 1 [Member] | Domestic corporate bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plan [Member] | Level 1 [Member] | International corporate bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plan [Member] | Level 1 [Member] | Registered investment companies [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plan [Member] | Level 1 [Member] | Other Investments [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | ||
Pension Plan [Member] | Level 1 [Member] | Total investment assets in the fair value hierarchy [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 1,435 | 1,828 | |
Pension Plan [Member] | Level 2 [Member] | Equity Securities, Domestic [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plan [Member] | Level 2 [Member] | Equity Securities, International [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plan [Member] | Level 2 [Member] | Equity Securities, Registered Investment Company [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plan [Member] | Level 2 [Member] | Domestic government bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 29 | 27 | |
Pension Plan [Member] | Level 2 [Member] | International government bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 8 | 12 | |
Pension Plan [Member] | Level 2 [Member] | Domestic corporate bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 311 | 338 | |
Pension Plan [Member] | Level 2 [Member] | International corporate bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 53 | 64 | |
Pension Plan [Member] | Level 2 [Member] | Registered investment companies [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 1 | 6 | |
Pension Plan [Member] | Level 2 [Member] | Other Investments [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 1 | ||
Pension Plan [Member] | Level 2 [Member] | Total investment assets in the fair value hierarchy [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 402 | 448 | |
Other Postretirement Benefits Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 1,108 | 1,209 | 1,057 |
Other Postretirement Benefits Plan [Member] | Total fair value of plan assets excluding cash and cash equivalents and accounts payable [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 1,106 | 1,207 | |
Other Postretirement Benefits Plan [Member] | Level 1 [Member] | Total investment assets in the fair value hierarchy [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 540 | 438 | |
Other Postretirement Benefits Plan [Member] | Level 2 [Member] | Total investment assets in the fair value hierarchy [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 307 | 340 | |
San Diego Gas and Electric Company [Member] | Pension Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 600 | 776 | 714 |
San Diego Gas and Electric Company [Member] | Pension Plan [Member] | Total fair value of plan assets excluding cash and cash equivalents and accounts payable [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 602 | 777 | |
San Diego Gas and Electric Company [Member] | Other Postretirement Benefits Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 172 | 195 | 169 |
Cash and cash equivalents excluded | 1 | 1 | |
Accounts payable excluded | 1 | 1 | |
San Diego Gas and Electric Company [Member] | Other Postretirement Benefits Plan [Member] | Equity Securities, Domestic [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 37 | 46 | |
San Diego Gas and Electric Company [Member] | Other Postretirement Benefits Plan [Member] | Equity Securities, International [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 22 | 26 | |
San Diego Gas and Electric Company [Member] | Other Postretirement Benefits Plan [Member] | Equity Securities, Registered Investment Company [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 59 | 52 | |
San Diego Gas and Electric Company [Member] | Other Postretirement Benefits Plan [Member] | Domestic government bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 11 | 13 | |
San Diego Gas and Electric Company [Member] | Other Postretirement Benefits Plan [Member] | International government bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 1 | ||
San Diego Gas and Electric Company [Member] | Other Postretirement Benefits Plan [Member] | Domestic corporate bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 16 | 17 | |
San Diego Gas and Electric Company [Member] | Other Postretirement Benefits Plan [Member] | International corporate bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 3 | 3 | |
San Diego Gas and Electric Company [Member] | Other Postretirement Benefits Plan [Member] | Registered investment companies [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 7 | 17 | |
San Diego Gas and Electric Company [Member] | Other Postretirement Benefits Plan [Member] | Total investment assets in the fair value hierarchy [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 155 | 175 | |
San Diego Gas and Electric Company [Member] | Other Postretirement Benefits Plan [Member] | Common/collective trusts [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments measured at NAV | 17 | 20 | |
San Diego Gas and Electric Company [Member] | Other Postretirement Benefits Plan [Member] | Total fair value of plan assets excluding cash and cash equivalents and accounts payable [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 172 | 195 | |
San Diego Gas and Electric Company [Member] | Other Postretirement Benefits Plan [Member] | Level 1 [Member] | Equity Securities, Domestic [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 37 | 46 | |
San Diego Gas and Electric Company [Member] | Other Postretirement Benefits Plan [Member] | Level 1 [Member] | Equity Securities, International [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 22 | 26 | |
San Diego Gas and Electric Company [Member] | Other Postretirement Benefits Plan [Member] | Level 1 [Member] | Equity Securities, Registered Investment Company [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 59 | 52 | |
San Diego Gas and Electric Company [Member] | Other Postretirement Benefits Plan [Member] | Level 1 [Member] | Domestic government bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 10 | 12 | |
San Diego Gas and Electric Company [Member] | Other Postretirement Benefits Plan [Member] | Level 1 [Member] | International government bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | ||
San Diego Gas and Electric Company [Member] | Other Postretirement Benefits Plan [Member] | Level 1 [Member] | Domestic corporate bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
San Diego Gas and Electric Company [Member] | Other Postretirement Benefits Plan [Member] | Level 1 [Member] | International corporate bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
San Diego Gas and Electric Company [Member] | Other Postretirement Benefits Plan [Member] | Level 1 [Member] | Registered investment companies [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
San Diego Gas and Electric Company [Member] | Other Postretirement Benefits Plan [Member] | Level 1 [Member] | Total investment assets in the fair value hierarchy [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 128 | 136 | |
San Diego Gas and Electric Company [Member] | Other Postretirement Benefits Plan [Member] | Level 2 [Member] | Equity Securities, Domestic [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
San Diego Gas and Electric Company [Member] | Other Postretirement Benefits Plan [Member] | Level 2 [Member] | Equity Securities, International [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
San Diego Gas and Electric Company [Member] | Other Postretirement Benefits Plan [Member] | Level 2 [Member] | Equity Securities, Registered Investment Company [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
San Diego Gas and Electric Company [Member] | Other Postretirement Benefits Plan [Member] | Level 2 [Member] | Domestic government bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 1 | 1 | |
San Diego Gas and Electric Company [Member] | Other Postretirement Benefits Plan [Member] | Level 2 [Member] | International government bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 1 | ||
San Diego Gas and Electric Company [Member] | Other Postretirement Benefits Plan [Member] | Level 2 [Member] | Domestic corporate bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 16 | 17 | |
San Diego Gas and Electric Company [Member] | Other Postretirement Benefits Plan [Member] | Level 2 [Member] | International corporate bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 3 | 3 | |
San Diego Gas and Electric Company [Member] | Other Postretirement Benefits Plan [Member] | Level 2 [Member] | Registered investment companies [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 7 | 17 | |
San Diego Gas and Electric Company [Member] | Other Postretirement Benefits Plan [Member] | Level 2 [Member] | Total investment assets in the fair value hierarchy [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 27 | 39 | |
Southern California Gas Company [Member] | Pension Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 1,385 | 1,694 | 1,579 |
Southern California Gas Company [Member] | Pension Plan [Member] | Total fair value of plan assets excluding cash and cash equivalents and accounts payable [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 1,389 | 1,697 | |
Southern California Gas Company [Member] | Other Postretirement Benefits Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 916 | 993 | $ 870 |
Cash and cash equivalents excluded | 6 | 4 | |
Accounts payable excluded | 4 | 2 | |
Southern California Gas Company [Member] | Other Postretirement Benefits Plan [Member] | Equity Securities, Domestic [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 66 | 78 | |
Southern California Gas Company [Member] | Other Postretirement Benefits Plan [Member] | Equity Securities, International [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 39 | 44 | |
Southern California Gas Company [Member] | Other Postretirement Benefits Plan [Member] | Equity Securities, Registered Investment Company [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 62 | 41 | |
Southern California Gas Company [Member] | Other Postretirement Benefits Plan [Member] | Domestic government bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 249 | 138 | |
Southern California Gas Company [Member] | Other Postretirement Benefits Plan [Member] | International government bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 5 | 7 | |
Southern California Gas Company [Member] | Other Postretirement Benefits Plan [Member] | Domestic corporate bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 175 | 164 | |
Southern California Gas Company [Member] | Other Postretirement Benefits Plan [Member] | International corporate bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 21 | 28 | |
Southern California Gas Company [Member] | Other Postretirement Benefits Plan [Member] | Registered investment companies [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 64 | 85 | |
Southern California Gas Company [Member] | Other Postretirement Benefits Plan [Member] | Defined Benefit Plan, Derivative [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | (4) | ||
Southern California Gas Company [Member] | Other Postretirement Benefits Plan [Member] | Total investment assets in the fair value hierarchy [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 677 | 585 | |
Southern California Gas Company [Member] | Other Postretirement Benefits Plan [Member] | Common/collective trusts [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments measured at NAV | 237 | 406 | |
Southern California Gas Company [Member] | Other Postretirement Benefits Plan [Member] | Total fair value of plan assets excluding cash and cash equivalents and accounts payable [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 914 | 991 | |
Southern California Gas Company [Member] | Other Postretirement Benefits Plan [Member] | Level 1 [Member] | Equity Securities, Domestic [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 66 | 78 | |
Southern California Gas Company [Member] | Other Postretirement Benefits Plan [Member] | Level 1 [Member] | Equity Securities, International [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 39 | 44 | |
Southern California Gas Company [Member] | Other Postretirement Benefits Plan [Member] | Level 1 [Member] | Equity Securities, Registered Investment Company [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 62 | 41 | |
Southern California Gas Company [Member] | Other Postretirement Benefits Plan [Member] | Level 1 [Member] | Domestic government bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 236 | 125 | |
Southern California Gas Company [Member] | Other Postretirement Benefits Plan [Member] | Level 1 [Member] | International government bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 1 | 0 | |
Southern California Gas Company [Member] | Other Postretirement Benefits Plan [Member] | Level 1 [Member] | Domestic corporate bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Southern California Gas Company [Member] | Other Postretirement Benefits Plan [Member] | Level 1 [Member] | International corporate bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Southern California Gas Company [Member] | Other Postretirement Benefits Plan [Member] | Level 1 [Member] | Registered investment companies [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Southern California Gas Company [Member] | Other Postretirement Benefits Plan [Member] | Level 1 [Member] | Defined Benefit Plan, Derivative [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | (4) | ||
Southern California Gas Company [Member] | Other Postretirement Benefits Plan [Member] | Level 1 [Member] | Total investment assets in the fair value hierarchy [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 400 | 288 | |
Southern California Gas Company [Member] | Other Postretirement Benefits Plan [Member] | Level 2 [Member] | Equity Securities, Domestic [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Southern California Gas Company [Member] | Other Postretirement Benefits Plan [Member] | Level 2 [Member] | Equity Securities, International [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Southern California Gas Company [Member] | Other Postretirement Benefits Plan [Member] | Level 2 [Member] | Equity Securities, Registered Investment Company [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Southern California Gas Company [Member] | Other Postretirement Benefits Plan [Member] | Level 2 [Member] | Domestic government bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 13 | 13 | |
Southern California Gas Company [Member] | Other Postretirement Benefits Plan [Member] | Level 2 [Member] | International government bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 4 | 7 | |
Southern California Gas Company [Member] | Other Postretirement Benefits Plan [Member] | Level 2 [Member] | Domestic corporate bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 175 | 164 | |
Southern California Gas Company [Member] | Other Postretirement Benefits Plan [Member] | Level 2 [Member] | International corporate bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 21 | 28 | |
Southern California Gas Company [Member] | Other Postretirement Benefits Plan [Member] | Level 2 [Member] | Registered investment companies [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 64 | 85 | |
Southern California Gas Company [Member] | Other Postretirement Benefits Plan [Member] | Level 2 [Member] | Defined Benefit Plan, Derivative [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | ||
Southern California Gas Company [Member] | Other Postretirement Benefits Plan [Member] | Level 2 [Member] | Total investment assets in the fair value hierarchy [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 277 | 297 | |
Other Sempra Energy [Member] | Other Postretirement Benefits Plan [Member] | Equity Securities, Domestic [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 6 | 7 | |
Other Sempra Energy [Member] | Other Postretirement Benefits Plan [Member] | Equity Securities, International [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 4 | 5 | |
Other Sempra Energy [Member] | Other Postretirement Benefits Plan [Member] | Equity Securities, Registered Investment Company [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 1 | ||
Other Sempra Energy [Member] | Other Postretirement Benefits Plan [Member] | Domestic government bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 2 | 2 | |
Other Sempra Energy [Member] | Other Postretirement Benefits Plan [Member] | Domestic corporate bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 2 | 2 | |
Other Sempra Energy [Member] | Other Postretirement Benefits Plan [Member] | International corporate bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 1 | ||
Other Sempra Energy [Member] | Other Postretirement Benefits Plan [Member] | Registered investment companies [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 1 | ||
Other Sempra Energy [Member] | Other Postretirement Benefits Plan [Member] | Total investment assets in the fair value hierarchy [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 15 | 18 | |
Other Sempra Energy [Member] | Other Postretirement Benefits Plan [Member] | Common/collective trusts [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments measured at NAV | 4 | 2 | |
Other Sempra Energy [Member] | Other Postretirement Benefits Plan [Member] | Private Equity Funds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments measured at NAV | 1 | 1 | |
Other Sempra Energy [Member] | Other Postretirement Benefits Plan [Member] | Total fair value of plan assets excluding cash and cash equivalents and accounts payable [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 20 | 21 | |
Other Sempra Energy [Member] | Other Postretirement Benefits Plan [Member] | Level 1 [Member] | Equity Securities, Domestic [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 6 | 7 | |
Other Sempra Energy [Member] | Other Postretirement Benefits Plan [Member] | Level 1 [Member] | Equity Securities, International [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 4 | 5 | |
Other Sempra Energy [Member] | Other Postretirement Benefits Plan [Member] | Level 1 [Member] | Equity Securities, Registered Investment Company [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 1 | ||
Other Sempra Energy [Member] | Other Postretirement Benefits Plan [Member] | Level 1 [Member] | Domestic government bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 2 | 1 | |
Other Sempra Energy [Member] | Other Postretirement Benefits Plan [Member] | Level 1 [Member] | Domestic corporate bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Sempra Energy [Member] | Other Postretirement Benefits Plan [Member] | Level 1 [Member] | International corporate bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | ||
Other Sempra Energy [Member] | Other Postretirement Benefits Plan [Member] | Level 1 [Member] | Registered investment companies [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | ||
Other Sempra Energy [Member] | Other Postretirement Benefits Plan [Member] | Level 1 [Member] | Total investment assets in the fair value hierarchy [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 12 | 14 | |
Other Sempra Energy [Member] | Other Postretirement Benefits Plan [Member] | Level 2 [Member] | Equity Securities, Domestic [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Sempra Energy [Member] | Other Postretirement Benefits Plan [Member] | Level 2 [Member] | Equity Securities, International [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Sempra Energy [Member] | Other Postretirement Benefits Plan [Member] | Level 2 [Member] | Equity Securities, Registered Investment Company [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | ||
Other Sempra Energy [Member] | Other Postretirement Benefits Plan [Member] | Level 2 [Member] | Domestic government bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 1 | |
Other Sempra Energy [Member] | Other Postretirement Benefits Plan [Member] | Level 2 [Member] | Domestic corporate bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 2 | 2 | |
Other Sempra Energy [Member] | Other Postretirement Benefits Plan [Member] | Level 2 [Member] | International corporate bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 1 | ||
Other Sempra Energy [Member] | Other Postretirement Benefits Plan [Member] | Level 2 [Member] | Registered investment companies [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 1 | ||
Other Sempra Energy [Member] | Other Postretirement Benefits Plan [Member] | Level 2 [Member] | Total investment assets in the fair value hierarchy [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 3 | 4 | |
Sempra Energy [Member] | Other Postretirement Benefits Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Cash and cash equivalents excluded | 7 | 5 | |
Accounts payable excluded | $ 5 | $ 3 |
EMPLOYEE BENEFIT PLANS - PROFIT
EMPLOYEE BENEFIT PLANS - PROFIT SHARING PLANS (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Chilquinta Energia Profit Sharing [Member] | |||
Profit Sharing Plans [Line Items] | |||
Recorded Annual Profit Sharing Expense | $ 7 | $ 7 | $ 5 |
Luz del Sur Profit Sharing [Member] | |||
Profit Sharing Plans [Line Items] | |||
Recorded Annual Profit Sharing Expense | $ 13 | $ 12 | $ 10 |
EMPLOYEE BENEFIT PLANS - SAVING
EMPLOYEE BENEFIT PLANS - SAVINGS PLANS (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Savings Plan [Line Items] | |||
Employer contributions to defined benefit plan | $ 43 | $ 41 | $ 42 |
Market value of employer stock held by plan | 1,000 | 1,100 | |
San Diego Gas and Electric Company [Member] | |||
Savings Plan [Line Items] | |||
Employer contributions to defined benefit plan | 15 | 14 | 15 |
Southern California Gas Company [Member] | |||
Savings Plan [Line Items] | |||
Employer contributions to defined benefit plan | $ 23 | $ 22 | $ 22 |
- SHARE-BASED COMPENSATION EXPE
- SHARE-BASED COMPENSATION EXPENSE/ OPTIONS (Details) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | 96 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2018 | |
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 6,067,767 | 6,067,767 | ||
Number of shares authorized for issuance (in shares) | 6,067,767 | 6,067,767 | ||
Share-based compensation expense, before income taxes | $ 76 | $ 78 | $ 46 | |
Income tax benefit | (21) | (31) | (18) | |
Capitalized share-based compensation cost | 10 | 9 | 7 | |
Excess income tax deficiency (benefit) | 15 | 0 | (34) | |
Share-based compensation expense, net of taxes | $ 55 | $ 47 | $ 28 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ||||
Beginning balance (in shares) | 195,801 | |||
Exercised (in shares) | (138,861) | (164,454) | (167,742) | |
Ending balance (in shares) | 56,940 | 195,801 | 56,940 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract] | ||||
Beginning balance (in dollars per share) | $ 50.30 | |||
Exercised (in dollars per share) | 48.53 | |||
Ending balance (in dollars per share) | $ 54.63 | $ 50.30 | $ 54.63 | |
Outstanding at period end, Weighted- average remaining contractual term | 10 months 24 days | |||
Outstanding at period end, Aggregate intrinsic value | $ 3 | $ 3 | ||
Vested at period end (in shares) | 56,940 | 56,940 | ||
Vested at period end, Weighted- average exercise price (in dollars per share) | $ 54.63 | $ 54.63 | ||
Vested at period end, Weighted- average remaining contractual term | 10 months 24 days | |||
Vested at period end, Aggregate intrinsic value | $ 3 | $ 3 | ||
Exercisable at period end (in shares) | 56,940 | 56,940 | ||
Exercisable at period end, Weighted- average exercise price (in dollars per share) | $ 54.63 | $ 54.63 | ||
Exercisable at period end, Weighted- average remaining contractual term | 10 months 24 days | |||
Exercisable at period end, Aggregate intrinsic value | $ 3 | $ 3 | ||
Aggregate intrinsic value of options exercised | 9 | $ 9 | $ 8 | |
Cash received from exercise of options | 7 | |||
Options grants in period (in shares) | 0 | |||
San Diego Gas and Electric Company [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Share-based compensation expense, before income taxes | 12 | 13 | 7 | |
Income tax benefit | (3) | (5) | (3) | |
Capitalized share-based compensation cost | 6 | 5 | 4 | |
Excess income tax deficiency (benefit) | 3 | 0 | (7) | |
Share-based compensation expense, net of taxes | 9 | 8 | 4 | |
Southern California Gas Company [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Share-based compensation expense, before income taxes | 16 | 17 | 8 | |
Income tax benefit | (5) | (7) | (3) | |
Capitalized share-based compensation cost | 4 | 4 | 3 | |
Excess income tax deficiency (benefit) | 2 | 0 | (4) | |
Share-based compensation expense, net of taxes | $ 11 | $ 10 | $ 5 | |
IENova Plans [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Restricted stock units issued by subsidiary (in shares) | 966,747 | 1,043,709 | 378,367 | 966,747 |
Restricted stock units issued by subsidiary, outstanding (in shares) | 696,787 | 696,787 | ||
Cash paid to settle awards | $ 3 | $ 2 | $ 1 | |
Employee Stock Option [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Award vesting period | 4 years | |||
Expiration period | 10 years | |||
Restricted Stock Units (RSUs), Service-based [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Award requisite service period | 3 years | |||
Restricted Stock Awards [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Award requisite service period | 4 years | |||
Awarded during or after two thousand fifteen [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Award vesting rights maximum additional award | 100.00% | |||
Award vesting rights, Increase modifier for top quartile | 20.00% | |||
Award vesting rights, decrease modifier for bottom quartile | 20.00% | |||
Awarded during or after two thousand fifteen [Member] | Performance Shares [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Award requisite service period | 3 years | |||
Awarded During Or After Two Thousand and Fourteen [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Award vesting rights maximum additional award | 100.00% | |||
Awards Before 2015 [Member] | Performance Shares [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Award requisite service period | 4 years | |||
Awards Before 2015 [Member] | Restricted Stock Units (RSUs), Service-based [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Award requisite service period | 4 years | |||
Awards Granted in 2013 and Earlier [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Award vesting rights maximum additional award | 50.00% | |||
Minimum [Member] | Restricted Stock Units, Employee Stock Options, or Restricted Stock Awards [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Award requisite service period | 3 years | |||
Maximum [Member] | Restricted Stock Units, Employee Stock Options, or Restricted Stock Awards [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Award requisite service period | 4 years |
SHARE-BASED COMPENSATION - RSAs
SHARE-BASED COMPENSATION - RSAs AND RSUs (Details) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | 60 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2018 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ||||
Maximum Performance Based RSU Target Performance Conditions Exceeded For Awards Granted during or after 2014 | 100.00% | 100.00% | ||
Share-Based Compensation, Restricted Stock Awards And Units [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract] | ||||
Risk-free rate of return | 2.00% | 1.50% | 1.30% | |
Stock price volatility | 17.00% | 17.00% | 16.00% | |
Share-Based Compensation, Restricted Stock Units [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ||||
Equity instruments other than options, vested in the period, fair value | $ 32 | $ 45 | $ 46 | |
Nonvested awards, compensation cost not yet recognized | $ 24 | $ 24 | ||
Weighted average period over which unrecognized compensation cost will be recognized | 1 year 9 months 18 days | |||
Share-Based Compensation, Restricted Stock Awards [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ||||
Granted (in shares) | 0 | |||
Equity instruments other than options, vested in the period, fair value | $ 0 | |||
Share-Based Compensation, Performance Based Restricted Stock Units [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ||||
Nonvested, beginning of period (in shares) | 1,701,617 | |||
Granted (in shares) | 358,363 | |||
Vested (in shares) | (157,745) | |||
Forfeited (in shares) | (660,066) | |||
Nonvested, end of period (in shares) | 1,242,169 | 1,701,617 | 1,242,169 | |
Weighted average grant date fair value, beginning of period (in dollars per share) | $ 105.84 | |||
Weighted average grant date fair value, granted (in dollars per share) | 105.03 | $ 110.54 | $ 100.37 | |
Weighted average grant date fair value, vested (in dollars per share) | 99.42 | |||
Weighted average grant date fair value, forfeited (in dollars per share) | 106.45 | |||
Weighted average grant date fair value, end of period (in dollars per share) | $ 106.11 | $ 105.84 | $ 106.11 | |
Expected to vest (in shares) | 1,211,529 | 1,211,529 | ||
Weighted average grant date fair value, expected to vest (in dollars per share) | $ 105.47 | $ 105.47 | ||
Share-Based Compensation, Service Based Restricted Stock Units [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ||||
Nonvested, beginning of period (in shares) | 285,895 | |||
Granted (in shares) | 288,474 | |||
Vested (in shares) | (163,609) | |||
Forfeited (in shares) | (8,399) | |||
Nonvested, end of period (in shares) | 402,361 | 285,895 | 402,361 | |
Weighted average grant date fair value, beginning of period (in dollars per share) | $ 98.81 | |||
Weighted average grant date fair value, granted (in dollars per share) | 107.60 | $ 101.88 | $ 93.59 | |
Weighted average grant date fair value, vested (in dollars per share) | 100.60 | |||
Weighted average grant date fair value, forfeited (in dollars per share) | 103.32 | |||
Weighted average grant date fair value, end of period (in dollars per share) | $ 105.01 | $ 98.81 | $ 105.01 | |
Expected to vest (in shares) | 396,358 | 396,358 | ||
Weighted average grant date fair value, expected to vest (in dollars per share) | $ 104.26 | $ 104.26 |
DERIVATIVE FINANCIAL INSTRUME_3
DERIVATIVE FINANCIAL INSTRUMENTS - COMMODITY VOLUMES (Details) | 12 Months Ended | |
Dec. 31, 2018MWhMMBTU | Dec. 31, 2017MWhMMBTU | |
Natural Gas Derivative [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional Amount, Energy Measure | MMBTU | 35 | 46 |
Electric Energy Derivative [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional Amount, Energy Measure | 2 | 3 |
Congestion Revenue Rights Derivative [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional Amount, Energy Measure | 52 | 59 |
SDG&E [Member] | Natural Gas Derivative [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional Amount, Energy Measure | MMBTU | 33 | 39 |
SDG&E [Member] | Electric Energy Derivative [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional Amount, Energy Measure | 2 | 3 |
SDG&E [Member] | Congestion Revenue Rights Derivative [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional Amount, Energy Measure | 52 | 59 |
DERIVATIVE FINANCIAL INSTRUME_4
DERIVATIVE FINANCIAL INSTRUMENTS - NOTIONALS AMOUNTS (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Cross-currency swaps [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount of derivative liability | $ 306 | $ 408 |
Other foreign currency derivatives [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount of derivative liability | 1,158 | 345 |
Cash Flow Hedging [Member] | Interest rate instruments [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount of derivative liability | 594 | 861 |
San Diego Gas and Electric Company [Member] | Cash Flow Hedging [Member] | Interest rate instruments [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount of derivative liability | 142 | $ 295 |
OMEC LLC [Member] | Interest Rate Swap, maturing on October 31, 2019 [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount of derivative liability | 159 | |
OMEC LLC [Member] | Swaption [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount of derivative liability | $ 142 | |
Minimum [Member] | Cross-currency swaps [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative, Maturity Date | Dec. 31, 2019 | Dec. 31, 2018 |
Minimum [Member] | Other foreign currency derivatives [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative, Maturity Date | Dec. 31, 2019 | Dec. 31, 2018 |
Minimum [Member] | Cash Flow Hedging [Member] | Interest rate instruments [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative, Maturity Date | Dec. 31, 2019 | Dec. 31, 2018 |
Minimum [Member] | San Diego Gas and Electric Company [Member] | Cash Flow Hedging [Member] | Interest rate instruments [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative, Maturity Date | Dec. 31, 2019 | Dec. 31, 2018 |
Maximum [Member] | Cross-currency swaps [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative, Maturity Date | Dec. 31, 2023 | Dec. 31, 2023 |
Maximum [Member] | Other foreign currency derivatives [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative, Maturity Date | Dec. 31, 2020 | Dec. 31, 2019 |
Maximum [Member] | Cash Flow Hedging [Member] | Interest rate instruments [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative, Maturity Date | Dec. 31, 2032 | Dec. 31, 2032 |
Maximum [Member] | San Diego Gas and Electric Company [Member] | Cash Flow Hedging [Member] | Interest rate instruments [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative, Maturity Date | Dec. 31, 2019 | Dec. 31, 2019 |
DERIVATIVE FINANCIAL INSTRUME_5
DERIVATIVE FINANCIAL INSTRUMENTS - BALANCE SHEET (Details) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
Current assets: Other [Member] | ||
Other Derivatives Not Designated as Hedging Instruments at Fair Value, Net [Abstract] | ||
Net amount presented on balance sheet | $ 80,000,000 | $ 47,000,000 |
Additional margin posted for commodity contracts not subject to rate recovery | 19,000,000 | 2,000,000 |
Additional margin posted for commodity contracts subject to rate recovery | 33,000,000 | 17,000,000 |
Total | 132,000,000 | 66,000,000 |
Other assets: Sundry [Member] | ||
Other Derivatives Not Designated as Hedging Instruments at Fair Value, Net [Abstract] | ||
Net amount presented on balance sheet | 235,000,000 | 105,000,000 |
Additional margin posted for commodity contracts not subject to rate recovery | 0 | 0 |
Additional margin posted for commodity contracts subject to rate recovery | 0 | 0 |
Total | 235,000,000 | 105,000,000 |
Current liabilities: Other [Member] | ||
Other Derivatives Not Designated as Hedging Instruments at Fair Value, Net [Abstract] | ||
Net amount presented on balance sheet | (70,000,000) | (103,000,000) |
Additional margin posted for commodity contracts not subject to rate recovery | 0 | 0 |
Additional margin posted for commodity contracts subject to rate recovery | 0 | 0 |
Total | (70,000,000) | (103,000,000) |
Deferred credits and other liabilities: Deferred credits and other [Member] | ||
Other Derivatives Not Designated as Hedging Instruments at Fair Value, Net [Abstract] | ||
Net amount presented on balance sheet | (218,000,000) | (281,000,000) |
Additional margin posted for commodity contracts not subject to rate recovery | 0 | 0 |
Additional margin posted for commodity contracts subject to rate recovery | 0 | 0 |
Total | (218,000,000) | (281,000,000) |
Designated as Hedging Instrument [Member] | Current assets: Other [Member] | ||
Derivative Instruments in Hedges, at Fair Value, Net [Abstract] | ||
Interest rate and foreign exchange instruments | 2,000,000 | 5,000,000 |
Designated as Hedging Instrument [Member] | Other assets: Sundry [Member] | ||
Derivative Instruments in Hedges, at Fair Value, Net [Abstract] | ||
Interest rate and foreign exchange instruments | 0 | 2,000,000 |
Designated as Hedging Instrument [Member] | Current liabilities: Other [Member] | ||
Derivative Instruments in Hedges, at Fair Value, Net [Abstract] | ||
Interest rate and foreign exchange instruments | (3,000,000) | (51,000,000) |
Designated as Hedging Instrument [Member] | Deferred credits and other liabilities: Deferred credits and other [Member] | ||
Derivative Instruments in Hedges, at Fair Value, Net [Abstract] | ||
Interest rate and foreign exchange instruments | (147,000,000) | (165,000,000) |
Not Designated as Hedging Instrument [Member] | Current assets: Other [Member] | ||
Other Derivatives Not Designated as Hedging Instruments at Fair Value, Net [Abstract] | ||
Foreign exchange instruments | 0 | |
Commodity contracts not subject to rate recovery | 153,000,000 | 81,000,000 |
Associated offsetting commodity contracts not subject to rate recovery | (133,000,000) | (67,000,000) |
Commodity contracts subject to rate recovery | 64,000,000 | 28,000,000 |
Associated offsetting commodity contracts subject to rate recovery | (6,000,000) | 0 |
Associated cash collateral commodity contracts subject to rate recovery | 0 | 0 |
Not Designated as Hedging Instrument [Member] | Other assets: Sundry [Member] | ||
Other Derivatives Not Designated as Hedging Instruments at Fair Value, Net [Abstract] | ||
Foreign exchange instruments | 0 | |
Commodity contracts not subject to rate recovery | 7,000,000 | 8,000,000 |
Associated offsetting commodity contracts not subject to rate recovery | (3,000,000) | (5,000,000) |
Commodity contracts subject to rate recovery | 233,000,000 | 101,000,000 |
Associated offsetting commodity contracts subject to rate recovery | (2,000,000) | (1,000,000) |
Associated cash collateral commodity contracts subject to rate recovery | 0 | 0 |
Not Designated as Hedging Instrument [Member] | Current liabilities: Other [Member] | ||
Other Derivatives Not Designated as Hedging Instruments at Fair Value, Net [Abstract] | ||
Foreign exchange instruments | (1,000,000) | |
Commodity contracts not subject to rate recovery | (164,000,000) | (72,000,000) |
Associated offsetting commodity contracts not subject to rate recovery | 133,000,000 | 67,000,000 |
Commodity contracts subject to rate recovery | (42,000,000) | (65,000,000) |
Associated offsetting commodity contracts subject to rate recovery | 6,000,000 | 0 |
Associated cash collateral commodity contracts subject to rate recovery | 0 | 19,000,000 |
Not Designated as Hedging Instrument [Member] | Deferred credits and other liabilities: Deferred credits and other [Member] | ||
Other Derivatives Not Designated as Hedging Instruments at Fair Value, Net [Abstract] | ||
Foreign exchange instruments | 0 | |
Commodity contracts not subject to rate recovery | (6,000,000) | (6,000,000) |
Associated offsetting commodity contracts not subject to rate recovery | 3,000,000 | 5,000,000 |
Commodity contracts subject to rate recovery | (72,000,000) | (120,000,000) |
Associated offsetting commodity contracts subject to rate recovery | 2,000,000 | 1,000,000 |
Associated cash collateral commodity contracts subject to rate recovery | 2,000,000 | 4,000,000 |
San Diego Gas and Electric Company [Member] | Current assets: Other [Member] | ||
Other Derivatives Not Designated as Hedging Instruments at Fair Value, Net [Abstract] | ||
Net amount presented on balance sheet | 54,000,000 | 26,000,000 |
Additional margin posted for commodity contracts subject to rate recovery | 28,000,000 | 16,000,000 |
Total | 82,000,000 | 42,000,000 |
San Diego Gas and Electric Company [Member] | Other assets: Sundry [Member] | ||
Other Derivatives Not Designated as Hedging Instruments at Fair Value, Net [Abstract] | ||
Net amount presented on balance sheet | 231,000,000 | 100,000,000 |
Additional margin posted for commodity contracts subject to rate recovery | 0 | 0 |
Total | 231,000,000 | 100,000,000 |
San Diego Gas and Electric Company [Member] | Current liabilities: Other [Member] | ||
Other Derivatives Not Designated as Hedging Instruments at Fair Value, Net [Abstract] | ||
Net amount presented on balance sheet | (32,000,000) | (54,000,000) |
Additional margin posted for commodity contracts subject to rate recovery | 0 | 0 |
Total | (32,000,000) | (54,000,000) |
San Diego Gas and Electric Company [Member] | Deferred credits and other liabilities: Deferred credits and other [Member] | ||
Other Derivatives Not Designated as Hedging Instruments at Fair Value, Net [Abstract] | ||
Net amount presented on balance sheet | (68,000,000) | (118,000,000) |
Additional margin posted for commodity contracts subject to rate recovery | 0 | 0 |
Total | (68,000,000) | (118,000,000) |
San Diego Gas and Electric Company [Member] | Designated as Hedging Instrument [Member] | Current assets: Other [Member] | ||
Derivative Instruments in Hedges, at Fair Value, Net [Abstract] | ||
Interest rate and foreign exchange instruments | 0 | 0 |
San Diego Gas and Electric Company [Member] | Designated as Hedging Instrument [Member] | Other assets: Sundry [Member] | ||
Derivative Instruments in Hedges, at Fair Value, Net [Abstract] | ||
Interest rate and foreign exchange instruments | 0 | 0 |
San Diego Gas and Electric Company [Member] | Designated as Hedging Instrument [Member] | Current liabilities: Other [Member] | ||
Derivative Instruments in Hedges, at Fair Value, Net [Abstract] | ||
Interest rate and foreign exchange instruments | (1,000,000) | (10,000,000) |
San Diego Gas and Electric Company [Member] | Designated as Hedging Instrument [Member] | Deferred credits and other liabilities: Deferred credits and other [Member] | ||
Derivative Instruments in Hedges, at Fair Value, Net [Abstract] | ||
Interest rate and foreign exchange instruments | 0 | (3,000,000) |
San Diego Gas and Electric Company [Member] | Not Designated as Hedging Instrument [Member] | Current assets: Other [Member] | ||
Other Derivatives Not Designated as Hedging Instruments at Fair Value, Net [Abstract] | ||
Commodity contracts subject to rate recovery | 60,000,000 | 26,000,000 |
Associated offsetting commodity contracts subject to rate recovery | (6,000,000) | 0 |
Associated cash collateral commodity contracts subject to rate recovery | 0 | 0 |
San Diego Gas and Electric Company [Member] | Not Designated as Hedging Instrument [Member] | Other assets: Sundry [Member] | ||
Other Derivatives Not Designated as Hedging Instruments at Fair Value, Net [Abstract] | ||
Commodity contracts subject to rate recovery | 233,000,000 | 101,000,000 |
Associated offsetting commodity contracts subject to rate recovery | (2,000,000) | (1,000,000) |
Associated cash collateral commodity contracts subject to rate recovery | 0 | 0 |
San Diego Gas and Electric Company [Member] | Not Designated as Hedging Instrument [Member] | Current liabilities: Other [Member] | ||
Other Derivatives Not Designated as Hedging Instruments at Fair Value, Net [Abstract] | ||
Commodity contracts subject to rate recovery | (37,000,000) | (63,000,000) |
Associated offsetting commodity contracts subject to rate recovery | 6,000,000 | 0 |
Associated cash collateral commodity contracts subject to rate recovery | 0 | 19,000,000 |
San Diego Gas and Electric Company [Member] | Not Designated as Hedging Instrument [Member] | Deferred credits and other liabilities: Deferred credits and other [Member] | ||
Other Derivatives Not Designated as Hedging Instruments at Fair Value, Net [Abstract] | ||
Commodity contracts subject to rate recovery | (72,000,000) | (120,000,000) |
Associated offsetting commodity contracts subject to rate recovery | 2,000,000 | 1,000,000 |
Associated cash collateral commodity contracts subject to rate recovery | 2,000,000 | 4,000,000 |
Southern California Gas Company [Member] | Current assets: Other [Member] | ||
Other Derivatives Not Designated as Hedging Instruments at Fair Value, Net [Abstract] | ||
Net amount presented on balance sheet | 4,000,000 | 2,000,000 |
Additional margin posted for commodity contracts subject to rate recovery | 5,000,000 | 1,000,000 |
Total | 9,000,000 | 3,000,000 |
Southern California Gas Company [Member] | Other assets: Sundry [Member] | ||
Other Derivatives Not Designated as Hedging Instruments at Fair Value, Net [Abstract] | ||
Net amount presented on balance sheet | 0 | 0 |
Additional margin posted for commodity contracts subject to rate recovery | 0 | 0 |
Total | 0 | 0 |
Southern California Gas Company [Member] | Current liabilities: Other [Member] | ||
Other Derivatives Not Designated as Hedging Instruments at Fair Value, Net [Abstract] | ||
Net amount presented on balance sheet | (5,000,000) | (2,000,000) |
Additional margin posted for commodity contracts subject to rate recovery | 0 | 0 |
Total | (5,000,000) | (2,000,000) |
Southern California Gas Company [Member] | Deferred credits and other liabilities: Deferred credits and other [Member] | ||
Other Derivatives Not Designated as Hedging Instruments at Fair Value, Net [Abstract] | ||
Net amount presented on balance sheet | 0 | 0 |
Additional margin posted for commodity contracts subject to rate recovery | 0 | 0 |
Total | 0 | 0 |
Southern California Gas Company [Member] | Not Designated as Hedging Instrument [Member] | Current assets: Other [Member] | ||
Other Derivatives Not Designated as Hedging Instruments at Fair Value, Net [Abstract] | ||
Commodity contracts subject to rate recovery | 4,000,000 | 2,000,000 |
Southern California Gas Company [Member] | Not Designated as Hedging Instrument [Member] | Other assets: Sundry [Member] | ||
Other Derivatives Not Designated as Hedging Instruments at Fair Value, Net [Abstract] | ||
Commodity contracts subject to rate recovery | 0 | 0 |
Southern California Gas Company [Member] | Not Designated as Hedging Instrument [Member] | Current liabilities: Other [Member] | ||
Other Derivatives Not Designated as Hedging Instruments at Fair Value, Net [Abstract] | ||
Commodity contracts subject to rate recovery | (5,000,000) | (2,000,000) |
Southern California Gas Company [Member] | Not Designated as Hedging Instrument [Member] | Deferred credits and other liabilities: Deferred credits and other [Member] | ||
Other Derivatives Not Designated as Hedging Instruments at Fair Value, Net [Abstract] | ||
Commodity contracts subject to rate recovery | $ 0 | $ 0 |
DERIVATIVE FINANCIAL INSTRUME_6
DERIVATIVE FINANCIAL INSTRUMENTS - INCOME STATEMENT (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain (loss) on derivative recognized in earnings | $ 10 | $ (7) | $ (21) |
Designated as Hedging Instrument [Member] | Fair Value Hedging [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain (loss) on derivative recognized in earnings | 1 | ||
Designated as Hedging Instrument [Member] | Fair Value Hedging [Member] | Interest Expense [Member] | Interest rate instruments [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain (loss) on derivative recognized in earnings | 3 | ||
Designated as Hedging Instrument [Member] | Fair Value Hedging [Member] | Other Income [Member] | Interest rate instruments [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain (loss) on derivative recognized in earnings | (2) | ||
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Pretax gain (loss) on derivative recognized in OCI | 68 | (8) | (21) |
Pretax gain (loss) reclassified from AOCI into earnings | (13) | (23) | (33) |
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Interest Expense [Member] | Interest rate and foreign exchange instruments [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Pretax gain (loss) on derivative recognized in OCI | 31 | 19 | (8) |
Pretax gain (loss) reclassified from AOCI into earnings | 0 | 4 | (17) |
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Other Income [Member] | Interest rate and foreign exchange instruments [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Pretax gain (loss) reclassified from AOCI into earnings | 2 | 0 | 0 |
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Gain on Sale of Assets [Member] | Interest rate instruments [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Pretax gain (loss) on derivative recognized in OCI | 0 | 0 | 0 |
Pretax gain (loss) reclassified from AOCI into earnings | (9) | 0 | 0 |
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Equity Earnings [Member] | Interest rate and foreign exchange instruments [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Pretax gain (loss) on derivative recognized in OCI | 41 | (34) | (4) |
Pretax gain (loss) reclassified from AOCI into earnings | (7) | (20) | (15) |
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Remeasurement of Equity Method Investment [Member] | Interest rate and foreign exchange instruments [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Pretax gain (loss) on derivative recognized in OCI | 0 | 0 | 0 |
Pretax gain (loss) reclassified from AOCI into earnings | 0 | 0 | (7) |
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Revenues: Energy-Related Businesses [Member] | Commodity Contracts Not Subject To Rate Recovery [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Pretax gain (loss) on derivative recognized in OCI | 0 | 3 | (13) |
Pretax gain (loss) reclassified from AOCI into earnings | 0 | (9) | 6 |
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Revenues: Energy-Related Businesses [Member] | Foreign exchange instruments [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Pretax gain (loss) on derivative recognized in OCI | (4) | 4 | 4 |
Pretax gain (loss) reclassified from AOCI into earnings | 1 | 2 | 0 |
Not Designated as Hedging Instrument [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain (loss) on derivative recognized in earnings | 313 | 118 | (103) |
Not Designated as Hedging Instrument [Member] | Other Income [Member] | Foreign exchange instruments [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain (loss) on derivative recognized in earnings | 3 | 49 | (32) |
Not Designated as Hedging Instrument [Member] | Equity Earnings [Member] | Foreign exchange instruments [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain (loss) on derivative recognized in earnings | 0 | 1 | 3 |
Not Designated as Hedging Instrument [Member] | Revenues: Energy-Related Businesses [Member] | Commodity Contracts Not Subject To Rate Recovery [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain (loss) on derivative recognized in earnings | 26 | 16 | (18) |
Not Designated as Hedging Instrument [Member] | Operation And Maintenance [Member] | Commodity Contracts Not Subject To Rate Recovery [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain (loss) on derivative recognized in earnings | 0 | 0 | 1 |
Not Designated as Hedging Instrument [Member] | Cost of Electric Fuel and Purchased Power [Member] | Commodity contracts subject to rate recovery [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain (loss) on derivative recognized in earnings | 279 | 54 | (53) |
Not Designated as Hedging Instrument [Member] | Cost of Natural Gas [Member] | Commodity contracts subject to rate recovery [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain (loss) on derivative recognized in earnings | 5 | (2) | (4) |
San Diego Gas and Electric Company [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain (loss) on derivative recognized in earnings | 3 | 2 | 3 |
San Diego Gas and Electric Company [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Interest Expense [Member] | Interest rate instruments [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Pretax gain (loss) on derivative recognized in OCI | 1 | (2) | (2) |
Pretax gain (loss) reclassified from AOCI into earnings | (7) | (13) | (12) |
San Diego Gas and Electric Company [Member] | Not Designated as Hedging Instrument [Member] | Cost of Electric Fuel and Purchased Power [Member] | Commodity contracts subject to rate recovery [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain (loss) on derivative recognized in earnings | 279 | 54 | (53) |
Southern California Gas Company [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Interest Expense [Member] | Interest rate instruments [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Pretax gain (loss) on derivative recognized in OCI | 0 | 0 | 0 |
Pretax gain (loss) reclassified from AOCI into earnings | (1) | 0 | (1) |
Southern California Gas Company [Member] | Not Designated as Hedging Instrument [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain (loss) on derivative recognized in earnings | 5 | (2) | (3) |
Southern California Gas Company [Member] | Not Designated as Hedging Instrument [Member] | Operation And Maintenance [Member] | Commodity Contracts Not Subject To Rate Recovery [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain (loss) on derivative recognized in earnings | 0 | 0 | 1 |
Southern California Gas Company [Member] | Not Designated as Hedging Instrument [Member] | Cost of Natural Gas [Member] | Commodity contracts subject to rate recovery [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain (loss) on derivative recognized in earnings | $ 5 | $ (2) | $ (4) |
DERIVATIVE FINANCIAL INSTRUME_7
DERIVATIVE FINANCIAL INSTRUMENTS - CASH FLOW HEDGES (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2018USD ($) | |
Derivative Instruments, Gain (Loss) [Line Items] | |
Cash flow hedge gain (loss) to be reclassified within 12 months | $ 22 |
Maximum length of time hedged in cash flow hedge | 13 years |
Equity Method Investee [Member] | |
Derivative Instruments, Gain (Loss) [Line Items] | |
Maximum length of time hedged in cash flow hedge | 15 years |
San Diego Gas and Electric Company [Member] | |
Derivative Instruments, Gain (Loss) [Line Items] | |
Maximum length of time hedged in cash flow hedge | 1 year |
San Diego Gas and Electric Company [Member] | Non-controlling interests [Member] | |
Derivative Instruments, Gain (Loss) [Line Items] | |
Cash flow hedge gain (loss) to be reclassified within 12 months | $ (2) |
Southern California Gas Company [Member] | |
Derivative Instruments, Gain (Loss) [Line Items] | |
Cash flow hedge gain (loss) to be reclassified within 12 months | $ (1) |
DERIVATIVE FINANCIAL INSTRUME_8
DERIVATIVE FINANCIAL INSTRUMENTS - CONTINGENT FEATURES (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Derivative Instruments, Gain (Loss) [Line Items] | ||
Aggregate fair value of net liability position | $ 16 | $ 6 |
Aggregate fair value of additional collateral | 20 | |
San Diego Gas and Electric Company [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Aggregate fair value of net liability position | $ 1 | |
Southern California Gas Company [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Aggregate fair value of net liability position | 5 | |
Aggregate fair value of additional collateral | $ 5 |
FAIR VALUE MEASUREMENTS - RECUR
FAIR VALUE MEASUREMENTS - RECURRING FAIR VALUE MEASURES (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Fair Value Measured at Net Asset Value Per Share [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Alternative investment | $ 10 | |
Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Nuclear decommissioning trusts - equity securities | 411 | $ 496 |
Nuclear decommissioning trusts - Debt securities issued by the U.S. Treasury and other U.S. government corporations and agencies | 53 | 54 |
Nuclear decomissioning trusts - Municipal debt securities | 269 | 250 |
Nuclear decommissioning trusts - Other debt securities | 234 | 217 |
Nuclear decommissioning trusts - Total debt securities | 556 | 521 |
Total nuclear decommissioning trusts | 967 | 1,017 |
Assets fair value disclosure, total | 1,334 | 1,188 |
Liabilities fair value disclosure, total | 288 | 384 |
Fair Value, Measurements, Recurring [Member] | Interest Rate and Foreign Exchange Instruments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset | 2 | 7 |
Derivative liability | 150 | 217 |
Fair Value, Measurements, Recurring [Member] | Commodity contracts not subject to rate recovery [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset | 24 | 17 |
Effect of netting and allocation of collateral | 19 | 2 |
Derivative liability | 34 | 6 |
Fair Value, Measurements, Recurring [Member] | Commodity contracts subject to rate recovery [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset | 289 | 128 |
Effect of netting and allocation of collateral | 33 | 17 |
Derivative liability | 106 | 184 |
Effect of netting and allocation of collateral | (2) | (23) |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Nuclear decommissioning trusts - equity securities | 407 | 491 |
Nuclear decommissioning trusts - Debt securities issued by the U.S. Treasury and other U.S. government corporations and agencies | 43 | 45 |
Nuclear decomissioning trusts - Municipal debt securities | 0 | 0 |
Nuclear decommissioning trusts - Other debt securities | 0 | 0 |
Nuclear decommissioning trusts - Total debt securities | 43 | 45 |
Total nuclear decommissioning trusts | 450 | 536 |
Assets fair value disclosure, total | 499 | 555 |
Liabilities fair value disclosure, total | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Interest Rate and Foreign Exchange Instruments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset | 0 | 0 |
Derivative liability | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Commodity contracts not subject to rate recovery [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset | 0 | 5 |
Effect of netting and allocation of collateral | 19 | 2 |
Derivative liability | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Commodity contracts subject to rate recovery [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset | 2 | 0 |
Effect of netting and allocation of collateral | 28 | 12 |
Derivative liability | 2 | 23 |
Effect of netting and allocation of collateral | (2) | (23) |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Nuclear decommissioning trusts - equity securities | 4 | 5 |
Nuclear decommissioning trusts - Debt securities issued by the U.S. Treasury and other U.S. government corporations and agencies | 10 | 9 |
Nuclear decomissioning trusts - Municipal debt securities | 269 | 250 |
Nuclear decommissioning trusts - Other debt securities | 234 | 217 |
Nuclear decommissioning trusts - Total debt securities | 513 | 476 |
Total nuclear decommissioning trusts | 517 | 481 |
Assets fair value disclosure, total | 552 | 502 |
Liabilities fair value disclosure, total | 189 | 230 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Interest Rate and Foreign Exchange Instruments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset | 2 | 7 |
Derivative liability | 150 | 217 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Commodity contracts not subject to rate recovery [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset | 24 | 12 |
Effect of netting and allocation of collateral | 0 | 0 |
Derivative liability | 34 | 6 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Commodity contracts subject to rate recovery [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset | 9 | 2 |
Effect of netting and allocation of collateral | 0 | 0 |
Derivative liability | 5 | 7 |
Effect of netting and allocation of collateral | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Nuclear decommissioning trusts - equity securities | 0 | 0 |
Nuclear decommissioning trusts - Debt securities issued by the U.S. Treasury and other U.S. government corporations and agencies | 0 | 0 |
Nuclear decomissioning trusts - Municipal debt securities | 0 | 0 |
Nuclear decommissioning trusts - Other debt securities | 0 | 0 |
Nuclear decommissioning trusts - Total debt securities | 0 | 0 |
Total nuclear decommissioning trusts | 0 | 0 |
Assets fair value disclosure, total | 283 | 131 |
Liabilities fair value disclosure, total | 99 | 154 |
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Interest Rate and Foreign Exchange Instruments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset | 0 | 0 |
Derivative liability | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Commodity contracts not subject to rate recovery [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset | 0 | 0 |
Effect of netting and allocation of collateral | 0 | 0 |
Derivative liability | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Commodity contracts subject to rate recovery [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset | 278 | 126 |
Effect of netting and allocation of collateral | 5 | 5 |
Derivative liability | 99 | 154 |
Effect of netting and allocation of collateral | 0 | 0 |
San Diego Gas and Electric Company [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Nuclear decommissioning trusts - equity securities | 411 | 496 |
Nuclear decommissioning trusts - Debt securities issued by the U.S. Treasury and other U.S. government corporations and agencies | 53 | 54 |
Nuclear decomissioning trusts - Municipal debt securities | 269 | 250 |
Nuclear decommissioning trusts - Other debt securities | 234 | 217 |
Nuclear decommissioning trusts - Total debt securities | 556 | 521 |
Total nuclear decommissioning trusts | 967 | 1,017 |
Assets fair value disclosure, total | 1,280 | 1,159 |
Liabilities fair value disclosure, total | 100 | 172 |
San Diego Gas and Electric Company [Member] | Fair Value, Measurements, Recurring [Member] | Commodity contracts subject to rate recovery [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset | 285 | 126 |
Effect of netting and allocation of collateral | 28 | 16 |
Derivative liability | 101 | 182 |
Effect of netting and allocation of collateral | (2) | (23) |
San Diego Gas and Electric Company [Member] | Fair Value, Measurements, Recurring [Member] | Interest rate instruments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liability | 1 | 13 |
San Diego Gas and Electric Company [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Nuclear decommissioning trusts - equity securities | 407 | 491 |
Nuclear decommissioning trusts - Debt securities issued by the U.S. Treasury and other U.S. government corporations and agencies | 43 | 45 |
Nuclear decomissioning trusts - Municipal debt securities | 0 | 0 |
Nuclear decommissioning trusts - Other debt securities | 0 | 0 |
Nuclear decommissioning trusts - Total debt securities | 43 | 45 |
Total nuclear decommissioning trusts | 450 | 536 |
Assets fair value disclosure, total | 474 | 547 |
Liabilities fair value disclosure, total | 0 | 0 |
San Diego Gas and Electric Company [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Commodity contracts subject to rate recovery [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset | 1 | 0 |
Effect of netting and allocation of collateral | 23 | 11 |
Derivative liability | 2 | 23 |
Effect of netting and allocation of collateral | (2) | (23) |
San Diego Gas and Electric Company [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Interest rate instruments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liability | 0 | 0 |
San Diego Gas and Electric Company [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Nuclear decommissioning trusts - equity securities | 4 | 5 |
Nuclear decommissioning trusts - Debt securities issued by the U.S. Treasury and other U.S. government corporations and agencies | 10 | 9 |
Nuclear decomissioning trusts - Municipal debt securities | 269 | 250 |
Nuclear decommissioning trusts - Other debt securities | 234 | 217 |
Nuclear decommissioning trusts - Total debt securities | 513 | 476 |
Total nuclear decommissioning trusts | 517 | 481 |
Assets fair value disclosure, total | 523 | 481 |
Liabilities fair value disclosure, total | 1 | 18 |
San Diego Gas and Electric Company [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Commodity contracts subject to rate recovery [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset | 6 | 0 |
Effect of netting and allocation of collateral | 0 | 0 |
Derivative liability | 0 | 5 |
Effect of netting and allocation of collateral | 0 | 0 |
San Diego Gas and Electric Company [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Interest rate instruments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liability | 1 | 13 |
San Diego Gas and Electric Company [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Nuclear decommissioning trusts - equity securities | 0 | 0 |
Nuclear decommissioning trusts - Debt securities issued by the U.S. Treasury and other U.S. government corporations and agencies | 0 | 0 |
Nuclear decomissioning trusts - Municipal debt securities | 0 | 0 |
Nuclear decommissioning trusts - Other debt securities | 0 | 0 |
Nuclear decommissioning trusts - Total debt securities | 0 | 0 |
Total nuclear decommissioning trusts | 0 | 0 |
Assets fair value disclosure, total | 283 | 131 |
Liabilities fair value disclosure, total | 99 | 154 |
San Diego Gas and Electric Company [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Commodity contracts subject to rate recovery [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset | 278 | 126 |
Effect of netting and allocation of collateral | 5 | 5 |
Derivative liability | 99 | 154 |
Effect of netting and allocation of collateral | 0 | 0 |
San Diego Gas and Electric Company [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Interest rate instruments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liability | 0 | 0 |
Southern California Gas Company [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value disclosure, total | 9 | 3 |
Liabilities fair value disclosure, total | 5 | 2 |
Southern California Gas Company [Member] | Fair Value, Measurements, Recurring [Member] | Commodity contracts subject to rate recovery [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset | 4 | 2 |
Effect of netting and allocation of collateral | 5 | 1 |
Derivative liability | 5 | 2 |
Southern California Gas Company [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value disclosure, total | 6 | 1 |
Liabilities fair value disclosure, total | 0 | 0 |
Southern California Gas Company [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Commodity contracts subject to rate recovery [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset | 1 | 0 |
Effect of netting and allocation of collateral | 5 | 1 |
Derivative liability | 0 | 0 |
Southern California Gas Company [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value disclosure, total | 3 | 2 |
Liabilities fair value disclosure, total | 5 | 2 |
Southern California Gas Company [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Commodity contracts subject to rate recovery [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset | 3 | 2 |
Effect of netting and allocation of collateral | 0 | 0 |
Derivative liability | 5 | 2 |
Southern California Gas Company [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value disclosure, total | 0 | 0 |
Liabilities fair value disclosure, total | 0 | 0 |
Southern California Gas Company [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Commodity contracts subject to rate recovery [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset | 0 | 0 |
Effect of netting and allocation of collateral | 0 | 0 |
Derivative liability | $ 0 | $ 0 |
FAIR VALUE MEASUREMENTS - RECON
FAIR VALUE MEASUREMENTS - RECON OF LEVEL 3 ASSETS (Details) - USD ($) | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Purchases, Sales, Issues, Settlements [Abstract] | ||||
Balance at beginning of period | $ 179,000,000 | $ (28,000,000) | $ (74,000,000) | $ 19,000,000 |
Realized and unrealized gains (losses) | 209,000,000 | 34,000,000 | (120,000,000) | |
Allocated transmission instruments | 10,000,000 | 6,000,000 | 8,000,000 | |
Balance at end of period | 179,000,000 | (28,000,000) | (74,000,000) | |
Change in unrealized gains (losses) relating to instruments still held at the end of the period | 183,000,000 | 30,000,000 | (101,000,000) | |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Settlements | 12,000,000 | (6,000,000) | $ (19,000,000) | |
San Diego Gas and Electric Company [Member] | Maximum [Member] | ||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Purchases, Sales, Issues, Settlements [Abstract] | ||||
Congestion revenue rights (price per MWh) | 11.99 | 6.93 | ||
San Diego Gas and Electric Company [Member] | Minimum [Member] | ||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Purchases, Sales, Issues, Settlements [Abstract] | ||||
Congestion revenue rights (price per MWh) | (7.25) | (11.88) | ||
San Diego Gas and Electric Company [Member] | Weighted Average [Member] | ||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Purchases, Sales, Issues, Settlements [Abstract] | ||||
Congestion revenue rights (price per MWh) | 0.09 | (0.14) | ||
Subsequent Event [Member] | San Diego Gas and Electric Company [Member] | Maximum [Member] | ||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Purchases, Sales, Issues, Settlements [Abstract] | ||||
Congestion revenue rights (price per MWh) | 35.21 | |||
Subsequent Event [Member] | San Diego Gas and Electric Company [Member] | Minimum [Member] | ||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Purchases, Sales, Issues, Settlements [Abstract] | ||||
Congestion revenue rights (price per MWh) | (8.57) | |||
Subsequent Event [Member] | San Diego Gas and Electric Company [Member] | Weighted Average [Member] | ||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Purchases, Sales, Issues, Settlements [Abstract] | ||||
Congestion revenue rights (price per MWh) | $ (2.94) | |||
Level 3 [Member] | San Diego Gas and Electric Company [Member] | Maximum [Member] | ||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Purchases, Sales, Issues, Settlements [Abstract] | ||||
Market electricity forward price inputs (price per MWh) | 76.85 | 44.10 | ||
Level 3 [Member] | San Diego Gas and Electric Company [Member] | Minimum [Member] | ||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Purchases, Sales, Issues, Settlements [Abstract] | ||||
Market electricity forward price inputs (price per MWh) | 22.20 | 22.55 | ||
Level 3 [Member] | San Diego Gas and Electric Company [Member] | Weighted Average [Member] | ||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Purchases, Sales, Issues, Settlements [Abstract] | ||||
Market electricity forward price inputs (price per MWh) | $ 42.69 | $ 35.23 |
FAIR VALUE MEASUREMENTS - FINAN
FAIR VALUE MEASUREMENTS - FINANCIAL INSTRUMENTS (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Unamortized discount (net of premium) and debt issuance costs | $ 202 | $ 143 |
Capital lease obligations and build-to-suit | 1,419 | 877 |
Level 3 [Member] | Otay Mesa VIE [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total long-term debt | 220 | 295 |
Carrying Amount [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term amounts due from unconsolidated affiliates | 688 | 598 |
Long-term amounts due to unconsolidated affiliates | 37 | 35 |
Total long-term debt | 22,067 | 17,138 |
Fair Value [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term amounts due from unconsolidated affiliates | 695 | 618 |
Long-term amounts due to unconsolidated affiliates | 35 | 32 |
Total long-term debt | 21,625 | 18,409 |
Fair Value [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term amounts due from unconsolidated affiliates | 0 | 0 |
Long-term amounts due to unconsolidated affiliates | 0 | 0 |
Total long-term debt | 0 | 817 |
Fair Value [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term amounts due from unconsolidated affiliates | 648 | 510 |
Long-term amounts due to unconsolidated affiliates | 35 | 32 |
Total long-term debt | 21,274 | 17,134 |
Fair Value [Member] | Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term amounts due from unconsolidated affiliates | 47 | 108 |
Long-term amounts due to unconsolidated affiliates | 0 | 0 |
Total long-term debt | 351 | 458 |
San Diego Gas and Electric Company [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Unamortized discount (net of premium) and debt issuance costs | 49 | 45 |
Capital lease obligations | 1,272 | 732 |
San Diego Gas and Electric Company [Member] | Carrying Amount [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total long-term debt | 4,996 | 4,868 |
San Diego Gas and Electric Company [Member] | Fair Value [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total long-term debt | 5,117 | 5,368 |
San Diego Gas and Electric Company [Member] | Fair Value [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total long-term debt | 0 | 0 |
San Diego Gas and Electric Company [Member] | Fair Value [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total long-term debt | 4,897 | 5,073 |
San Diego Gas and Electric Company [Member] | Fair Value [Member] | Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total long-term debt | 220 | 295 |
Southern California Gas Company [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Unamortized discount (net of premium) and debt issuance costs | 32 | 24 |
Capital lease obligations | 3 | 1 |
Southern California Gas Company [Member] | Carrying Amount [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total long-term debt | 3,459 | 3,009 |
Southern California Gas Company [Member] | Fair Value [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total long-term debt | 3,505 | 3,192 |
Southern California Gas Company [Member] | Fair Value [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total long-term debt | 0 | 0 |
Southern California Gas Company [Member] | Fair Value [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total long-term debt | 3,505 | 3,192 |
Southern California Gas Company [Member] | Fair Value [Member] | Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total long-term debt | $ 0 | $ 0 |
FAIR VALUE MEASUREMENTS - NONRE
FAIR VALUE MEASUREMENTS - NONRECURRING FAIR VALUE MEASURES (Details) | Jun. 25, 2018USD ($) | Sep. 26, 2016USD ($) | Dec. 31, 2018USD ($) | Jun. 30, 2018USD ($) | May 31, 2016USD ($) | Mar. 31, 2016USD ($) | Jun. 30, 2017USD ($) | Sep. 30, 2016USD ($) | Sep. 30, 2016USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Feb. 07, 2019USD ($) | Feb. 06, 2019USD ($) | Jan. 01, 2019USD ($) | Sep. 26, 2018 | Sep. 29, 2016USD ($) | May 09, 2016 | Mar. 29, 2016USD ($) |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||||||||
Remeasurement of equity method investment | $ 0 | $ 0 | $ 617,000,000 | ||||||||||||||||
Equity method investment | $ 9,652,000,000 | 9,652,000,000 | $ 0 | ||||||||||||||||
Valuation, Market Approach [Member] | Non-utility Natural gas Storage Assets [Member] | Level 2 [Member] | |||||||||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||||||||
Fair value of investment | $ 337,000,000 | $ 337,000,000 | |||||||||||||||||
% of fair value measurement | 100.00% | 100.00% | |||||||||||||||||
Range of inputs | 100.00% | 100.00% | |||||||||||||||||
Valuation, Market Approach [Member] | Non-utility Natural gas Storage Assets [Member] | Fair Value, Inputs, Level 3 [Member] | |||||||||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||||||||
Range of inputs | 10.00% | ||||||||||||||||||
Valuation, Market Approach [Member] | IEnova Pipelines [Member] | Level 2 [Member] | |||||||||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||||||||
Ownership percentage in equity method investee | 100.00% | ||||||||||||||||||
Fair value of investment | $ 1,144,000,000 | ||||||||||||||||||
% of fair value measurement | 100.00% | ||||||||||||||||||
Range of inputs | 100.00% | ||||||||||||||||||
Valuation, Market Approach [Member] | TdM [Member] | Level 2 [Member] | |||||||||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||||||||
Fair value of investment | $ 62,000,000 | $ 145,000,000 | |||||||||||||||||
% of fair value measurement | 100.00% | 100.00% | |||||||||||||||||
Range of inputs | 100.00% | 100.00% | |||||||||||||||||
Valuation, Market Approach [Member] | Rockies Express [Member] | Level 2 [Member] | |||||||||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||||||||
Fair value of investment | $ 440,000,000 | ||||||||||||||||||
% of fair value measurement | 100.00% | ||||||||||||||||||
Range of inputs | 100.00% | ||||||||||||||||||
Valuation Technique, Discounted Cash Flow [Member] | Non-utility Natural gas Storage Assets [Member] | Fair Value, Inputs, Level 3 [Member] | |||||||||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||||||||
Fair value of investment | $ 190,000,000 | ||||||||||||||||||
% of fair value measurement | 100.00% | ||||||||||||||||||
Valuation Technique, Discounted Cash Flow [Member] | Certain U.S. Wind Equity Method Investments [Member] | Fair Value, Inputs, Level 3 [Member] | |||||||||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||||||||
Fair value of investment | $ 145,000,000 | ||||||||||||||||||
% of fair value measurement | 100.00% | ||||||||||||||||||
Sempra Mexico [Member] | IEnova Pipelines [Member] | |||||||||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||||||||
Acquired percentage interest | 50.00% | ||||||||||||||||||
Ownership percentage in equity method investee | 100.00% | ||||||||||||||||||
Remeasurement of equity method investment | $ 617,000,000 | ||||||||||||||||||
Gain on acquisition of remaining voting rights, net of tax | 432,000,000 | ||||||||||||||||||
Fair value of investment | 1,144,000,000 | ||||||||||||||||||
Equity method investment | 520,000,000 | ||||||||||||||||||
Reclassification adjustment from AOCI | (7,000,000) | ||||||||||||||||||
Fair value of business combination | $ 2,288,000,000 | ||||||||||||||||||
Sempra Mexico [Member] | TdM [Member] | |||||||||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||||||||
Other than temporary impairment in investment | $ 71,000,000 | $ 131,000,000 | |||||||||||||||||
Other than temporary impairment in investment, net of tax | $ 111,000,000 | ||||||||||||||||||
Sempra Renewables [Member] | Wind Investments [Member] | |||||||||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||||||||
Equity method investment | $ 291,000,000 | $ 291,000,000 | |||||||||||||||||
Other than temporary impairment | 200,000,000 | ||||||||||||||||||
Sempra Renewables [Member] | Wind Investments [Member] | Level 2 [Member] | |||||||||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||||||||
Equity method investment | 139,000,000 | 139,000,000 | |||||||||||||||||
Sempra LNG & Midstream [Member] | Rockies Express [Member] | |||||||||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||||||||
Other than temporary impairment in investment | $ 44,000,000 | $ 44,000,000 | |||||||||||||||||
Other than temporary impairment in investment, net of tax | $ 27,000,000 | $ 27,000,000 | |||||||||||||||||
Ownership percentage in equity method investee | 25.00% | 25.00% | 25.00% | 25.00% | |||||||||||||||
Fair value of investment | $ 440,000,000 | ||||||||||||||||||
Equity method investment | 484,000,000 | ||||||||||||||||||
Proceeds from sale of investments | $ 443,000,000 | $ 440,000,000 | |||||||||||||||||
Disposal Group Held-for-sale [Member] | |||||||||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||||||||
Asset impairment charges, net of taxes and noncontrolling interests | $ (900,000,000) | ||||||||||||||||||
Assets, fair value disclosure | $ 145,000,000 | ||||||||||||||||||
Asset impairment charges | (1,500,000,000) | ||||||||||||||||||
Disposal Group Held-for-sale [Member] | Sempra Renewables [Member] | |||||||||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||||||||
Asset impairment charges, net of taxes and noncontrolling interests | (145,000,000) | ||||||||||||||||||
Asset impairment charges | (200,000,000) | ||||||||||||||||||
Disposal Group Held-for-sale [Member] | Sempra Renewables [Member] | Wind Investments [Member] | |||||||||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||||||||
Other than temporary impairment | 200,000,000 | ||||||||||||||||||
Asset impairment charges, net of taxes and noncontrolling interests | (145,000,000) | ||||||||||||||||||
Disposal Group Held-for-sale [Member] | Sempra LNG & Midstream [Member] | |||||||||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||||||||
Asset impairment charges, net of taxes and noncontrolling interests | 126,000,000 | (755,000,000) | (629,000,000) | ||||||||||||||||
Asset impairment charges | 183,000,000 | $ (1,300,000,000) | (1,100,000,000) | ||||||||||||||||
Proceeds from sale | 5,000,000 | 5,000,000 | |||||||||||||||||
Disposal Group Held-for-sale [Member] | Sempra LNG & Midstream [Member] | Non-utility Natural gas Storage Assets [Member] | |||||||||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||||||||
Asset impairment charges, net of taxes and noncontrolling interests | (755,000,000) | ||||||||||||||||||
Asset impairment charges | $ (1,300,000,000) | ||||||||||||||||||
Assets held for sale | 336,000,000 | 336,000,000 | |||||||||||||||||
Bay Gas [Member] | Disposal Group Held-for-sale [Member] | Sempra LNG & Midstream [Member] | Non-utility Natural gas Storage Assets [Member] | |||||||||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||||||||
Ownership interest | 90.90% | ||||||||||||||||||
LA Storage [Member] | Disposal Group Held-for-sale [Member] | Sempra LNG & Midstream [Member] | Non-utility Natural gas Storage Assets [Member] | |||||||||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||||||||
Ownership interest | 75.40% | ||||||||||||||||||
Sempra LNG & Midstream [Member] | Disposal Group Disposed of by Sale [Member] | Mississippi Hub And Bay Gas [Member] | |||||||||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||||||||
Assets held for sale | 323,000,000 | 323,000,000 | |||||||||||||||||
Fair Value, Measurements, Nonrecurring [Member] | Disposal Group Held-for-sale [Member] | Sempra LNG & Midstream [Member] | Non-utility Natural gas Storage Assets [Member] | |||||||||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||||||||
Assets held for sale | $ 337,000,000 | $ 337,000,000 | |||||||||||||||||
Fair Value, Measurements, Nonrecurring [Member] | Disposal Group Held-for-sale [Member] | Sempra LNG & Midstream [Member] | Non-utility Natural gas Storage Assets [Member] | Valuation Technique, Discounted Cash Flow [Member] | |||||||||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||||||||
Assets, fair value disclosure | $ 190,000,000 | ||||||||||||||||||
Subsequent Event [Member] | Sempra LNG & Midstream [Member] | Bay Gas [Member] | |||||||||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||||||||
Ownership percentage in equity method investee | 9.10% | ||||||||||||||||||
Equity method investment | $ 20,000,000 | ||||||||||||||||||
Subsequent Event [Member] | Sempra LNG & Midstream [Member] | Disposal Group Disposed of by Sale [Member] | Mississippi Hub And Bay Gas [Member] | |||||||||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||||||||
Proceeds from sale | $ 328,000,000 | $ 332,000,000 | |||||||||||||||||
Measurement Input, Commodity Market Price [Member] | Minimum [Member] | Fair Value, Measurements, Nonrecurring [Member] | Disposal Group Held-for-sale [Member] | Sempra Renewables [Member] | Wind Generation Projects [Member] | Valuation Technique, Discounted Cash Flow [Member] | |||||||||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||||||||
Assets, measurement input | 29 | ||||||||||||||||||
Measurement Input, Commodity Market Price [Member] | Maximum [Member] | Fair Value, Measurements, Nonrecurring [Member] | Disposal Group Held-for-sale [Member] | Sempra Renewables [Member] | Wind Generation Projects [Member] | Valuation Technique, Discounted Cash Flow [Member] | |||||||||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||||||||
Assets, measurement input | 92 | ||||||||||||||||||
Measurement Input, Storage Rate [Member] | Minimum [Member] | Fair Value, Measurements, Nonrecurring [Member] | Disposal Group Held-for-sale [Member] | Sempra LNG & Midstream [Member] | Non-utility Natural gas Storage Assets [Member] | Valuation Technique, Discounted Cash Flow [Member] | |||||||||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||||||||
Assets, measurement input | 0.06 | ||||||||||||||||||
Measurement Input, Storage Rate [Member] | Maximum [Member] | Fair Value, Measurements, Nonrecurring [Member] | Disposal Group Held-for-sale [Member] | Sempra LNG & Midstream [Member] | Non-utility Natural gas Storage Assets [Member] | Valuation Technique, Discounted Cash Flow [Member] | |||||||||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||||||||
Assets, measurement input | 0.22 | ||||||||||||||||||
Measurement Input, Discount Rate [Member] | Minimum [Member] | Fair Value, Measurements, Nonrecurring [Member] | Disposal Group Held-for-sale [Member] | Sempra Renewables [Member] | Wind Generation Projects [Member] | Valuation Technique, Discounted Cash Flow [Member] | |||||||||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||||||||
Range of inputs | 8.00% | ||||||||||||||||||
Measurement Input, Discount Rate [Member] | Maximum [Member] | Fair Value, Measurements, Nonrecurring [Member] | Disposal Group Held-for-sale [Member] | Sempra Renewables [Member] | Wind Generation Projects [Member] | Valuation Technique, Discounted Cash Flow [Member] | |||||||||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||||||||
Range of inputs | 10.00% | ||||||||||||||||||
Measurement Input, Discount Rate [Member] | Weighted Average [Member] | Fair Value, Measurements, Nonrecurring [Member] | Disposal Group Held-for-sale [Member] | Sempra Renewables [Member] | Wind Generation Projects [Member] | Valuation Technique, Discounted Cash Flow [Member] | |||||||||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||||||||
Range of inputs | 8.70% | ||||||||||||||||||
Measurement Input, Discount Rate [Member] | Weighted Average [Member] | Fair Value, Measurements, Nonrecurring [Member] | Disposal Group Held-for-sale [Member] | Sempra LNG & Midstream [Member] | Non-utility Natural gas Storage Assets [Member] | Valuation Technique, Discounted Cash Flow [Member] | |||||||||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||||||||
Range of inputs | 10.00% |
PREFERRED STOCK (Details)
PREFERRED STOCK (Details) - USD ($) $ / shares in Units, $ in Millions | Jul. 13, 2018 | Jan. 09, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Preferred Stock [Line Items] | |||||
Preferred stock shares authorized (in shares) | 50,000,000 | 50,000,000 | |||
Value of shares issued | $ 2,258 | $ 0 | $ 0 | ||
San Diego Gas and Electric Company [Member] | |||||
Preferred Stock [Line Items] | |||||
Preferred stock shares authorized (in shares) | 45,000,000 | 45,000,000 | |||
Number of preferred stock shares outstanding (in shares) | 0 | 0 | |||
Sempra Energy [Member] | |||||
Preferred Stock [Line Items] | |||||
Preferred stock shares authorized (in shares) | 50,000,000 | ||||
Southern California Gas Company [Member] | |||||
Preferred Stock [Line Items] | |||||
Preferred stock shares authorized (in shares) | 11,000,000 | 11,000,000 | |||
Number of preferred stock shares outstanding (in shares) | 1,000,000 | 1,000,000 | |||
Series A Preferred Stock [Member] | |||||
Preferred Stock [Line Items] | |||||
Number of preferred stock shares outstanding (in shares) | 17,250,000 | ||||
Series A Preferred Stock [Member] | Sempra Energy [Member] | |||||
Preferred Stock [Line Items] | |||||
Shares issued (in shares) | 17,250,000 | ||||
Stated percentage rate | 6.00% | ||||
Conversion price per share (in dollars per share) | $ 100 | $ 100 | |||
Conversion price per share net of underwriting discount (in dollars per share) | 98.20 | ||||
Liquidation preference (in dollars per share) | $ 100 | ||||
Value of shares issued | $ 565 | $ 1,690 | |||
Underwriting discount | $ 10 | $ 32 | |||
Threshold appreciation price (in dollars per share) | $ 131.075 | $ 131.075 | |||
Number of shares issuable | 13,200,000 | ||||
Share dividends issued, percentage of weighted average share price | 97.00% | ||||
Series B Preferred Stock [Member] | |||||
Preferred Stock [Line Items] | |||||
Number of preferred stock shares outstanding (in shares) | 5,750,000 | ||||
Series B Preferred Stock [Member] | Sempra Energy [Member] | |||||
Preferred Stock [Line Items] | |||||
Shares issued (in shares) | 5,750,000 | ||||
Stated percentage rate | 6.75% | ||||
Conversion price per share (in dollars per share) | $ 100 | $ 100 | |||
Conversion price per share net of underwriting discount (in dollars per share) | 98.35 | ||||
Liquidation preference (in dollars per share) | 100 | ||||
Threshold appreciation price (in dollars per share) | $ 136.500 | $ 136.50 | |||
Number of shares issuable | 4,200,000 | ||||
Share dividends issued, percentage of weighted average share price | 97.00% | ||||
So Cal Gas Series Preferred Stock [Member] | |||||
Preferred Stock [Line Items] | |||||
Preferred stock shares authorized (in shares) | 5,000,000 | ||||
So Cal Gas Series Preferred Stock [Member] | Southern California Gas Company [Member] | |||||
Preferred Stock [Line Items] | |||||
Preferred stock shares authorized (in shares) | 5,000,000 | ||||
Preferred stock outstanding | $ 22 | $ 22 | |||
Twenty Five Dollar Par, Six Percent Series [Member] | Southern California Gas Company [Member] | |||||
Preferred Stock [Line Items] | |||||
Preferred stock shares authorized (in shares) | 1,000,000 | ||||
Number of preferred stock shares outstanding (in shares) | 79,011 | ||||
Par value (in dollars per share) | $ 25 | ||||
Preferred stock outstanding | $ 3 | 3 | |||
Twenty Five Dollar Par, Six Percent Series A [Member] | Southern California Gas Company [Member] | |||||
Preferred Stock [Line Items] | |||||
Number of preferred stock shares outstanding (in shares) | 783,032 | ||||
Liquidation preference (in dollars per share) | $ 25 | ||||
Par value (in dollars per share) | $ 25 | ||||
Preferred stock outstanding | $ 19 | 19 | |||
So Cal Gas Preferred Stock Owned By Pacific Enterprises [Member] | |||||
Preferred Stock [Line Items] | |||||
Preferred stock outstanding held by parent | $ (2) | (2) | |||
So Cal Gas Preferred Stock Owned By Pacific Enterprises [Member] | Southern California Gas Company [Member] | |||||
Preferred Stock [Line Items] | |||||
Number of preferred stock shares outstanding (in shares) | 50,970 | ||||
Preferred Stock Of Subsidiaries [Member] | |||||
Preferred Stock [Line Items] | |||||
Preferred stock outstanding | $ 20 | $ 20 | |||
Maximum [Member] | Series A Preferred Stock [Member] | Sempra Energy [Member] | |||||
Preferred Stock [Line Items] | |||||
Threshold appreciation price (in dollars per share) | $ 131.075 | $ 131.075 | |||
Shares issuable for each instrument | 93.45% | 93.45% | |||
Maximum [Member] | Series B Preferred Stock [Member] | Sempra Energy [Member] | |||||
Preferred Stock [Line Items] | |||||
Threshold appreciation price (in dollars per share) | $ 136.500 | $ 136.50 | |||
Shares issuable for each instrument | 87.91% | 87.91% | |||
Minimum [Member] | Series A Preferred Stock [Member] | Sempra Energy [Member] | |||||
Preferred Stock [Line Items] | |||||
Threshold appreciation price (in dollars per share) | $ 107 | $ 107 | |||
Shares issuable for each instrument | 76.29% | 76.29% | |||
Minimum [Member] | Series B Preferred Stock [Member] | Sempra Energy [Member] | |||||
Preferred Stock [Line Items] | |||||
Threshold appreciation price (in dollars per share) | $ 113.750 | $ 113.75 | |||
Shares issuable for each instrument | 73.26% | 73.26% | |||
Over-Allotment Option [Member] | Series A Preferred Stock [Member] | Sempra Energy [Member] | |||||
Preferred Stock [Line Items] | |||||
Shares issued (in shares) | 2,250,000 | ||||
Over-Allotment Option [Member] | Series B Preferred Stock [Member] | Sempra Energy [Member] | |||||
Preferred Stock [Line Items] | |||||
Shares issued (in shares) | 750,000 |
SEMPRA ENERGY - SHAREHOLDERS'_3
SEMPRA ENERGY - SHAREHOLDERS' EQUITY AND EARNINGS PER SHARE SEMPRA ENERGY COMMON STOCK OFFERINGS (Details) - USD ($) $ / shares in Units, $ in Millions | Feb. 26, 2019 | Jul. 13, 2018 | Mar. 08, 2018 | Jan. 09, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Jun. 30, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Issuances of common stock, net | $ 2,272 | $ 47 | $ 51 | |||||||
Common Stock [Member] | ||||||||||
Shares issued (in shares) | 11,212,500 | 8,556,630 | 26,869,158 | 7,651,671 | 8,556,630 | |||||
Public Offering [Member] | Common Stock [Member] | ||||||||||
Shares issued (in shares) | 9,750,000 | 23,364,486 | ||||||||
Price of shares issued (in dollars per share) | $ 113.75 | $ 107 | ||||||||
Price of shares issued net of underwriting discount (in dollars per share) | $ 111.87 | $ 105.07 | ||||||||
Over-Allotment Option [Member] | Common Stock [Member] | ||||||||||
Shares issued (in shares) | 1,462,500 | 3,504,672 | ||||||||
Issuances of common stock, net | $ 164 | $ 367 | ||||||||
Underwriting discount | $ 8 | |||||||||
Settlement of Forward Sale Contracts [Member] | Common Stock [Member] | ||||||||||
Issuances of common stock, net | $ 900 | $ 800 | $ 900 | |||||||
Underwriting discount | $ 3 | $ 14 | $ 16 | |||||||
Subsequent Event [Member] | Settlement of Forward Sale Contracts [Member] | Common Stock [Member] | ||||||||||
Shares issuable under forward contracts | 16,906,185 | |||||||||
Minimum [Member] | Settlement of Forward Sale Contracts [Member] | Common Stock [Member] | ||||||||||
Forward sales price (in usd per share) | $ 104.53 | |||||||||
Maximum [Member] | Settlement of Forward Sale Contracts [Member] | Common Stock [Member] | ||||||||||
Forward sales price (in usd per share) | $ 105.18 |
SEMPRA ENERGY - SHAREHOLDERS'_4
SEMPRA ENERGY - SHAREHOLDERS' EQUITY AND EARNINGS PER SHARE - EARNINGS PER SHARE COMPUTATIONS AND DIVIDENDS DECLARED (Details) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |||
Earnings Per Share [Abstract] | |||||||||||||
Earnings attributable to common shares | $ 924 | $ 256 | [1] | $ 1,370 | [1] | ||||||||
Weighted-average common shares outstanding for basic EPS (in shares) | 274,300,000 | 273,900,000 | 265,800,000 | 257,900,000 | 251,900,000 | 251,700,000 | 251,400,000 | 251,100,000 | 268,072,000 | 251,545,000 | [1] | 250,217,000 | [1] |
Dilutive effect of stock options, restricted stock awards and restricted stock units (in shares) | 919,000 | 755,000 | 938,000 | ||||||||||
Dilutive effect of common shares sold forward (in shares) | 861,000 | 0 | 0 | ||||||||||
Weighted-average number of shares outstanding, diluted (in shares) | 296,400,000 | 275,900,000 | 265,800,000 | 259,500,000 | 251,900,000 | 253,400,000 | 252,800,000 | 252,200,000 | 269,852,000 | 252,300,000 | [1] | 251,155,000 | [1] |
Basic earnings per common share (in dollars per share) | $ 3.51 | $ 1.22 | $ (1.99) | $ 1.39 | $ (1.80) | $ 0.41 | $ 0.99 | $ 1.80 | $ 3.45 | $ 1.02 | [1] | $ 5.48 | [1] |
Diluted earnings per common share (in dollars per share) | $ 3.25 | $ 1.21 | $ (1.99) | $ 1.38 | $ (1.80) | $ 0.41 | $ 0.98 | $ 1.79 | $ 3.42 | $ 1.01 | [1] | $ 5.46 | [1] |
Fully vested RSUs included in the computation of EPS | 641 | 609 | 568 | ||||||||||
[1] | As adjusted for the retrospective adoption of ASU 2017-07, which we discuss in Note 2 , and a reclassification to conform to current year presentation, which we discuss in Note 1 |
SEMPRA ENERGY - SHAREHOLDERS'_5
SEMPRA ENERGY - SHAREHOLDERS' EQUITY AND EARNINGS PER SHARE - ANTIDILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF EPS (Details) - shares | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Stock options, RSAs and RSUs [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Antidilutive securities excluded from the computation of EPS | 20,814 | 237,741 | 0 |
Convertible Preferred Stock | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Antidilutive securities excluded from the computation of EPS | 17,197,035 |
SEMPRA ENERGY - SHAREHOLDERS'_6
SEMPRA ENERGY - SHAREHOLDERS' EQUITY AND EARNINGS PER SHARE - COMMON STOCK ACTIVITY (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Earnings Per Share [Abstract] | |||
Common stock, shares authorized (in shares) | 750,000,000 | 750,000,000 | |
Common stock par value (in dollars per share) | $ 0 | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||
Common shares outstanding, January 1 | 251,358,977 | 250,152,514 | 248,298,080 |
Shares issued under forward sale agreements | 21,175,473 | 0 | 0 |
RSUs vesting | 509,042 | 362,022 | 1,363,555 |
Stock options exercised | 138,861 | 164,454 | 167,742 |
Savings plan issuance | 553,036 | 567,428 | 653,607 |
Common stock investment plan | 231,242 | 254,047 | 266,056 |
Issuance of RSUs held in our Deferred Compensation Plan | 3,357 | 7,811 | 0 |
Shares repurchased | (200,475) | (149,299) | (596,526) |
Common shares outstanding, December 31 | 273,769,513 | 251,358,977 | 250,152,514 |
SAN ONOFRE NUCLEAR GENERATING_3
SAN ONOFRE NUCLEAR GENERATING STATION (SONGS) - NARRATIVE (Details) - USD ($) $ in Millions | Mar. 13, 2017 | Mar. 31, 2018 | Dec. 31, 2018 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2017 | Dec. 19, 2017 | Feb. 28, 2017 |
Jointly Owned Utility Plant Interests [Line Items] | ||||||||
Litigation settlement payable | $ 118 | |||||||
Percent of arbitration expenses awarded | 95.00% | |||||||
Settlement payable net of arbitration expense | $ 60 | |||||||
Regulatory asset, current | $ 138 | $ 325 | ||||||
Regulatory asset, noncurrent | $ 1,589 | 1,517 | ||||||
Period of environmental exit | 10 years | |||||||
San Diego Gas and Electric Company [Member] | ||||||||
Jointly Owned Utility Plant Interests [Line Items] | ||||||||
Litigation settlement payable | 24 | |||||||
Settlement payable net of arbitration expense | 12 | |||||||
Arbitration expense | 12 | |||||||
Legal fees | 11 | |||||||
Litigation settlement amount allocated to ratepayers and shareholders | $ 1 | |||||||
Regulatory asset threshold to cease rate recovery | $ 152 | |||||||
Regulatory asset, current | $ 123 | 316 | ||||||
Regulatory asset, noncurrent | $ 454 | $ 451 | ||||||
Percentage of environmental exit costs incurred | 20.00% | |||||||
SONGS mitigation costs remaining | $ 23 | |||||||
Nuclear decommissioning trust authorized withdrawal amount | 455 | $ 93 | ||||||
San Diego Gas and Electric Company [Member] | Nuclear Plant Closure [Member] | ||||||||
Jointly Owned Utility Plant Interests [Line Items] | ||||||||
Regulatory asset threshold to cease rate recovery | $ 775 | |||||||
Receivable for nuclear plant closure | 124 | |||||||
Regulatory asset, current | 40 | |||||||
Regulatory asset, noncurrent | $ 84 | |||||||
San Diego Gas and Electric Company [Member] | San Onofre Nuclear Generating Station (SONGS) [Member] | ||||||||
Jointly Owned Utility Plant Interests [Line Items] | ||||||||
Ownership percentage | 20.00% | |||||||
SONGS 1 Decommissioning [Member] | ||||||||
Jointly Owned Utility Plant Interests [Line Items] | ||||||||
SONGS mitigation costs remaining | $ 207 | |||||||
SONGS 1 Decommissioning [Member] | San Diego Gas and Electric Company [Member] | ||||||||
Jointly Owned Utility Plant Interests [Line Items] | ||||||||
SONGS mitigation costs remaining | 41 | |||||||
Environmental exit costs deemed reasonable | 3 | |||||||
SONGS 2 and 3 Decommissioning [Member] | ||||||||
Jointly Owned Utility Plant Interests [Line Items] | ||||||||
SONGS mitigation costs remaining | 3,200 | |||||||
Environmental exit costs deemed reasonable | $ 222 | $ 136 | ||||||
SONGS 2 and 3 Decommissioning [Member] | San Diego Gas and Electric Company [Member] | ||||||||
Jointly Owned Utility Plant Interests [Line Items] | ||||||||
SONGS mitigation costs remaining | 638 | |||||||
Environmental exit costs deemed reasonable | $ 43 |
SAN ONOFRE NUCLEAR GENERATING_4
SAN ONOFRE NUCLEAR GENERATING STATION (SONGS) - NUCLEAR DECOMMISSIONING TRUSTS (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Debt Securities, Available-for-sale [Line Items] | |||
Cost | $ 731 | $ 701 | |
Gross unrealized gains | 259 | 336 | |
Gross unrealized losses | (16) | (4) | |
Estimated fair value | 974 | 1,033 | |
Proceeds from sales | 890 | 1,314 | $ 1,134 |
Gross realized gains | 42 | 157 | 111 |
Gross realized losses | (10) | (14) | $ (29) |
Debt Securities [Member] | |||
Debt Securities, Available-for-sale [Line Items] | |||
Cost | 556 | 514 | |
Gross unrealized gains | 6 | 10 | |
Gross unrealized losses | (6) | (3) | |
Estimated fair value | 556 | 521 | |
Debt securities issued by the U.S. Treasury and other U.S. government corporations and agencies [Member] | |||
Debt Securities, Available-for-sale [Line Items] | |||
Cost | 52 | 54 | |
Gross unrealized gains | 1 | 0 | |
Gross unrealized losses | 0 | 0 | |
Estimated fair value | 53 | 54 | |
Municipal bonds [Member] | |||
Debt Securities, Available-for-sale [Line Items] | |||
Cost | 266 | 245 | |
Gross unrealized gains | 4 | 7 | |
Gross unrealized losses | (1) | (2) | |
Estimated fair value | 269 | 250 | |
Other securities [Member] | |||
Debt Securities, Available-for-sale [Line Items] | |||
Cost | 238 | 215 | |
Gross unrealized gains | 1 | 3 | |
Gross unrealized losses | (5) | (1) | |
Estimated fair value | 234 | 217 | |
Equity securities [Member] | |||
Debt Securities, Available-for-sale [Line Items] | |||
Cost | 168 | 171 | |
Gross unrealized gains | 253 | 326 | |
Gross unrealized losses | (10) | (1) | |
Estimated fair value | 411 | 496 | |
Cash and cash equivalents [Member] | |||
Debt Securities, Available-for-sale [Line Items] | |||
Cost | 7 | 16 | |
Gross unrealized gains | 0 | 0 | |
Gross unrealized losses | 0 | 0 | |
Estimated fair value | $ 7 | $ 16 |
SAN ONOFRE NUCLEAR GENERATING_5
SAN ONOFRE NUCLEAR GENERATING STATION (SONGS) - ASSET RETIREMENT OBLIGATION AND SPENT NUCLEAR FUEL (Details) - USD ($) $ in Millions | Apr. 18, 2016 | Jul. 31, 2018 | May 31, 2017 | May 31, 2016 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Jointly Owned Utility Plant Interests [Line Items] | |||||||
Decrease in regulatory balancing account | $ (263) | $ (108) | $ (198) | ||||
San Diego Gas and Electric Company [Member] | |||||||
Jointly Owned Utility Plant Interests [Line Items] | |||||||
Decommissioning liability | 626 | ||||||
Cost study estimate decommissioning escalated | 810 | ||||||
Decrease in regulatory balancing account | $ (138) | $ (56) | $ (35) | ||||
San Diego Gas and Electric Company [Member] | Total Ownership [Member] | |||||||
Jointly Owned Utility Plant Interests [Line Items] | |||||||
Spent nuclear fuel damages awarded | $ 162 | ||||||
San Diego Gas and Electric Company [Member] | San Onofre Nuclear Generating Station (SONGS) [Member] | |||||||
Jointly Owned Utility Plant Interests [Line Items] | |||||||
Spent nuclear fuel damages awarded | $ 32 | ||||||
Decrease in regulatory asset | (23) | ||||||
Decrease in regulatory balancing account | (8) | ||||||
Decrease in SONGS O&M cost balancing account | $ (1) | ||||||
Proceeds from Legal Settlements | $ 9 | $ 9 |
SAN ONOFRE NUCLEAR GENERATING_6
SAN ONOFRE NUCLEAR GENERATING STATION (SONGS) - NUCLEAR INSURANCE (Details) - San Diego Gas and Electric Company [Member] - USD ($) $ in Millions | Dec. 31, 2018 | Apr. 05, 2018 | Jan. 10, 2018 | Jan. 09, 2018 | Jan. 05, 2018 | Jan. 04, 2018 |
Public Utilities, General Disclosures [Line Items] | ||||||
Maximum required nuclear liability insurance available | $ 450 | $ 100 | $ 450 | |||
Maximum secondary financial protection available | 110 | |||||
Maximum nuclear liability loss coverage per incident | 560 | |||||
Federal nuclear property damage insurance, minimum required | 1,060 | $ 50 | $ 1,060 | |||
Maximum premium assessment under nuclear property damage insurance | 10.4 | |||||
Federal Nuclear Property Damage Insurance | 1,500 | |||||
Spent Nuclear Fuel Storage Insurance | $ 500 | |||||
Maximum nuclear property insurance terrorism coverage | $ 3,240 |
COMMITMENTS AND CONTINGENCIES -
COMMITMENTS AND CONTINGENCIES - LOSS ON CONTINGENCIES (Details) £ in Millions | Feb. 21, 2019plaintifflawsuit | Oct. 31, 2018plaintiff | Aug. 31, 2018USD ($) | Sep. 30, 2017USD ($) | Jan. 31, 2017lawsuit | Sep. 30, 2016USD ($) | Oct. 31, 2017lawsuit | Sep. 30, 2018USD ($)lawsuit | Dec. 31, 2018USD ($)Bcfproof_of_claim | Dec. 31, 2018GBP (£)Bcf | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | [1] | Oct. 21, 2016t | Oct. 01, 2014USD ($) | Oct. 01, 2014GBP (£) | |
Loss Contingencies [Line Items] | |||||||||||||||||
Loss contingency accrual | $ 200,000,000 | ||||||||||||||||
Write-off of wildfire regulatory asset | 0 | $ 351,000,000 | [1] | $ 0 | |||||||||||||
Reserve for Aliso Canyon costs | 160,000,000 | 84,000,000 | |||||||||||||||
San Diego Gas and Electric Company [Member] | |||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||
Loss contingency accrual | 2,000,000 | ||||||||||||||||
Write-off of wildfire regulatory asset | 0 | 351,000,000 | [1] | $ 0 | |||||||||||||
Southern California Gas Company [Member] | |||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||
Loss contingency accrual | 147,000,000 | ||||||||||||||||
Recoverable costs through insurance settlement | 1,027,000,000 | ||||||||||||||||
Reserve for Aliso Canyon costs | $ 160,000,000 | 84,000,000 | |||||||||||||||
Energy Future Holdings Corp. [Member] | |||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||
Proof of claims | proof_of_claim | 28,000 | ||||||||||||||||
Loss from Catastrophes, 2007 Wildfire [Member] | San Diego Gas and Electric Company [Member] | |||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||
Write-off of wildfire regulatory asset | $ 351,000,000 | 351,000,000 | |||||||||||||||
Write-off of wildfire regulatory asset net of tax | $ 208,000,000 | $ 208,000,000 | |||||||||||||||
Aliso Canyon Natural Gas Storage Facility Gas Leak [Member] | |||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||
Loss contingency accrual | $ 136,000,000 | ||||||||||||||||
Aliso Canyon Natural Gas Storage Facility Gas Leak [Member] | Southern California Gas Company [Member] | |||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||
Amount of natural gas released | Bcf | 4.62 | 4.62 | |||||||||||||||
Mitigation requirement | t | 109,000 | ||||||||||||||||
Recorded estimated costs | $ 1,055,000,000 | ||||||||||||||||
Perecentage of recorded estimated costs allocated to temporary relocation program | 54.00% | ||||||||||||||||
Reserve for Aliso Canyon costs | $ 160,000,000 | ||||||||||||||||
Insurance receivable for Aliso Canyon costs | 461,000,000 | ||||||||||||||||
Proceeds from insurance settlement | $ 566,000,000 | ||||||||||||||||
Storage facility maximum capacity | Bcf | 86 | ||||||||||||||||
Aliso Canyon facility as a percentage of SoCalGas total storage capacity | 63.00% | ||||||||||||||||
Storage Facility, Working Gas Target | Bcf | 34 | ||||||||||||||||
Net book value Of Aliso Canyon Natural Gas Storage Facility | $ 724,000,000 | ||||||||||||||||
Damages from Product Defects [Member] | Southern California Gas Company [Member] | |||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||
Maximum occupational safety And health fines | $ 75,000 | ||||||||||||||||
Penalty assessments | 233,500 | ||||||||||||||||
Maximum other assessments in settlement of criminal complaint | $ 6,000,000 | ||||||||||||||||
HMRC VAT Claim [Member] | R B S Sempra Commodities [Member] | |||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||
VAT tax claim paid upon appeal | $ 138,000,000 | ||||||||||||||||
HMRC VAT Claim [Member] | Plaintiffs [Member] | |||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||
Damages sought | 91,000,000 | £ 71.5 | |||||||||||||||
HMRC VAT Claim [Member] | Parent Company [Member] | |||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||
VAT tax claim paid upon appeal | £ | £ 86 | ||||||||||||||||
Minimum [Member] | Aliso Canyon Natural Gas Storage Facility Gas Leak [Member] | Southern California Gas Company [Member] | |||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||
Liability insurance coverage | 1,200,000,000 | ||||||||||||||||
Maximum [Member] | Aliso Canyon Natural Gas Storage Facility Gas Leak [Member] | Southern California Gas Company [Member] | |||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||
Liability insurance coverage | $ 1,400,000,000 | ||||||||||||||||
Consolidated Class Action Complaints [Member] | |||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||
Number of lawsuits | lawsuit | 2 | 2 | |||||||||||||||
Property Class Action [Member] | |||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||
Number of lawsuits | lawsuit | 1 | ||||||||||||||||
Complaints Filed by Firefighters [Member] | Aliso Canyon Natural Gas Storage Facility Gas Leak [Member] | Southern California Gas Company [Member] | |||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||
Number of plaintiffs | plaintiff | 51 | ||||||||||||||||
Complaints Filed by Public Entities [Member] | |||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||
Number of lawsuits | lawsuit | 3 | ||||||||||||||||
R B S Sempra Commodities [Member] | |||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||
Investment in RBS Sempra Commodities LLP | $ 65,000,000 | ||||||||||||||||
Funding for Environmental Projects [Member] | Complaints Filed by Public Entities [Member] | Southern California Gas Company [Member] | |||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||
Settlement amount payable | $ 120,000,000 | ||||||||||||||||
Civil Penalties [Member] | Complaints Filed by Public Entities [Member] | Southern California Gas Company [Member] | |||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||
Settlement amount payable | $ 21,000,000 | ||||||||||||||||
Subsequent Event [Member] | Energy Future Holdings Corp. [Member] | |||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||
Number of lawsuits | lawsuit | 1,685 | ||||||||||||||||
Loss Contingency, Pending Claims, Number | lawsuit | 119 | ||||||||||||||||
Subsequent Event [Member] | Aliso Canyon Natural Gas Storage Facility Gas Leak [Member] | Southern California Gas Company [Member] | |||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||
Number of lawsuits | lawsuit | 393 | ||||||||||||||||
Number of plaintiffs | plaintiff | 48,000 | ||||||||||||||||
[1] | As adjusted for the retrospective adoption of ASU 2017-07, which we discuss in Note 2 , and a reclassification to conform to current year presentation, which we discuss in Note 1 |
COMMITMENTS AND CONTINGENCIES_2
COMMITMENTS AND CONTINGENCIES - LONG-TERM PURCHASE COMMITMENT (Details) - USD ($) $ in Millions | Mar. 13, 2017 | May 31, 2017 | May 31, 2016 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Long-term Purchase Commitment [Line Items] | ||||||
Litigation settlement payable | $ 118 | |||||
Sempra LNG & Midstream [Member] | ||||||
Long-term Purchase Commitment [Line Items] | ||||||
Loss on release of pipeline capacity | $ 206 | |||||
Litigation settlement payable | $ 57 | 47 | ||||
San Diego Gas and Electric Company [Member] | ||||||
Long-term Purchase Commitment [Line Items] | ||||||
Litigation settlement payable | $ 24 | |||||
Sempra LNG & Midstream [Member] | ||||||
Long-term Purchase Commitment [Line Items] | ||||||
Loss on release of pipeline capacity net of tax | $ 123 | |||||
Natural Gas Contracts [Member] | ||||||
Unrecorded Unconditional Purchase Obligation, Rolling Maturity [Abstract] | ||||||
2,019 | $ 263 | |||||
2,020 | 173 | |||||
2,021 | 156 | |||||
2,022 | 85 | |||||
2,023 | 63 | |||||
Thereafter | 280 | |||||
Total estimated payments | 1,020 | |||||
Purchases | 1,345 | $ 1,429 | $ 1,169 | |||
Natural Gas Contracts [Member] | SoCalGas [Member] | ||||||
Unrecorded Unconditional Purchase Obligation, Rolling Maturity [Abstract] | ||||||
2,019 | 126 | |||||
2,020 | 122 | |||||
2,021 | 104 | |||||
2,022 | 37 | |||||
2,023 | 24 | |||||
Thereafter | 49 | |||||
Total estimated payments | 462 | |||||
Purchases | 1,169 | 1,213 | 966 | |||
Natural Gas Storage and Transportation Contracts [Member] | ||||||
Unrecorded Unconditional Purchase Obligation, Rolling Maturity [Abstract] | ||||||
2,019 | 230 | |||||
2,020 | 158 | |||||
2,021 | 144 | |||||
2,022 | 73 | |||||
2,023 | 50 | |||||
Thereafter | 262 | |||||
Total estimated payments | 917 | |||||
Natural Gas Transportation Contracts [Member] | SoCalGas [Member] | ||||||
Unrecorded Unconditional Purchase Obligation, Rolling Maturity [Abstract] | ||||||
2,019 | 114 | |||||
2,020 | 118 | |||||
2,021 | 104 | |||||
2,022 | 37 | |||||
2,023 | 23 | |||||
Thereafter | 49 | |||||
Total estimated payments | 445 | |||||
Natural Gas Supply Contracts [Member] | ||||||
Unrecorded Unconditional Purchase Obligation, Rolling Maturity [Abstract] | ||||||
2,019 | 33 | |||||
2,020 | 15 | |||||
2,021 | 12 | |||||
2,022 | 12 | |||||
2,023 | 13 | |||||
Thereafter | 18 | |||||
Total estimated payments | 103 | |||||
Natural Gas Supply Contracts [Member] | SoCalGas [Member] | ||||||
Unrecorded Unconditional Purchase Obligation, Rolling Maturity [Abstract] | ||||||
2,019 | 12 | |||||
2,020 | 4 | |||||
2,021 | 0 | |||||
2,022 | 0 | |||||
2,023 | 1 | |||||
Thereafter | 0 | |||||
Total estimated payments | 17 | |||||
Liquefied Natural Gas Contracts [Member] | Sempra LNG & Midstream [Member] | ||||||
Unrecorded Unconditional Purchase Obligation, Rolling Maturity [Abstract] | ||||||
2,019 | 289 | |||||
2,020 | 372 | |||||
2,021 | 368 | |||||
2,022 | 373 | |||||
2,023 | 385 | |||||
Thereafter | 2,475 | |||||
Total estimated payments | $ 4,262 | |||||
Long-term Contracts [Member] | San Diego Gas and Electric Company [Member] | ||||||
Unrecorded Unconditional Purchase Obligation, Rolling Maturity [Abstract] | ||||||
Purchase commitment component percentage | 37.00% | |||||
Renewable Energy Contracts Expiring Through 2041 [Member] | San Diego Gas and Electric Company [Member] | ||||||
Unrecorded Unconditional Purchase Obligation, Rolling Maturity [Abstract] | ||||||
Purchase commitment component percentage | 36.00% | |||||
Other Owned Generation [Member] | San Diego Gas and Electric Company [Member] | ||||||
Unrecorded Unconditional Purchase Obligation, Rolling Maturity [Abstract] | ||||||
Purchase commitment component percentage | 55.00% | |||||
Spot Market Purchases [Member] | San Diego Gas and Electric Company [Member] | ||||||
Unrecorded Unconditional Purchase Obligation, Rolling Maturity [Abstract] | ||||||
Purchase commitment component percentage | 8.00% | |||||
Purchased Power Contracts [Member] | ||||||
Unrecorded Unconditional Purchase Obligation, Rolling Maturity [Abstract] | ||||||
2,019 | $ 654 | |||||
2,020 | 629 | |||||
2,021 | 631 | |||||
2,022 | 592 | |||||
2,023 | 549 | |||||
Thereafter | 5,185 | |||||
Total estimated payments | 8,240 | |||||
Purchases | 1,582 | 1,694 | 1,667 | |||
Purchased Power Contracts [Member] | SDG&E [Member] | ||||||
Unrecorded Unconditional Purchase Obligation, Rolling Maturity [Abstract] | ||||||
2,019 | 527 | |||||
2,020 | 510 | |||||
2,021 | 510 | |||||
2,022 | 496 | |||||
2,023 | 451 | |||||
Thereafter | 5,026 | |||||
Total estimated payments | 7,520 | |||||
Purchases | 712 | $ 781 | $ 752 | |||
Renewable Energy PPAs [Member] | SDG&E [Member] | ||||||
Unrecorded Unconditional Purchase Obligation, Rolling Maturity [Abstract] | ||||||
Total estimated payments | $ 5,200 |
COMMITMENTS AND CONTINGENCIES_3
COMMITMENTS AND CONTINGENCIES - OPERATING LEASES (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Operating Leases, Annual Rent Escalation [Abstract] | |||
Minimum annual rent escalation | 2.00% | ||
Maximum annual rent escalation | 5.00% | ||
Operating Leases, Rent Expense, Net [Abstract] | |||
Rent expense | $ 123 | $ 109 | $ 77 |
Future minimum lease payments | |||
2,019 | 79 | ||
2,020 | 56 | ||
2,021 | 54 | ||
2,022 | 51 | ||
2,023 | 44 | ||
Thereafter | 259 | ||
Total | 543 | ||
Future estimated rental payments | |||
2,019 | 12 | ||
2,020 | 12 | ||
2,021 | 13 | ||
2,022 | 13 | ||
2,023 | 13 | ||
Thereafter | 44 | ||
Total | 107 | ||
Total future rental commitments | |||
2,019 | 91 | ||
2,020 | 68 | ||
2,021 | 67 | ||
2,022 | 64 | ||
2,023 | 57 | ||
Thereafter | 303 | ||
Total | 650 | ||
Utility Subsidiaries [Member] | |||
Operating Leases, Annual Rent Escalation [Abstract] | |||
Aggregate maximum lease limit | 201 | ||
Lease limit utilized | $ 130 | ||
San Diego Gas and Electric Company [Member] | |||
Operating Leases, Annual Rent Escalation [Abstract] | |||
Minimum annual rent escalation | 2.00% | ||
Maximum annual rent escalation | 5.00% | ||
Operating Leases, Rent Expense, Net [Abstract] | |||
Rent expense | $ 27 | 28 | 28 |
Future minimum lease payments | |||
2,019 | 23 | ||
2,020 | 22 | ||
2,021 | 22 | ||
2,022 | 21 | ||
2,023 | 17 | ||
Thereafter | 48 | ||
Total | 153 | ||
Future estimated rental payments | |||
2,019 | 2 | ||
2,020 | 2 | ||
2,021 | 2 | ||
2,022 | 2 | ||
2,023 | 2 | ||
Thereafter | 7 | ||
Total | 17 | ||
Total future rental commitments | |||
2,019 | 25 | ||
2,020 | 24 | ||
2,021 | 24 | ||
2,022 | 23 | ||
2,023 | 19 | ||
Thereafter | 55 | ||
Total | $ 170 | ||
Southern California Gas Company [Member] | |||
Operating Leases, Annual Rent Escalation [Abstract] | |||
Minimum annual rent escalation | 2.00% | ||
Maximum annual rent escalation | 5.00% | ||
Operating Leases, Rent Expense, Net [Abstract] | |||
Rent expense | $ 41 | $ 43 | $ 38 |
Future minimum lease payments | |||
2,019 | 26 | ||
2,020 | 22 | ||
2,021 | 21 | ||
2,022 | 20 | ||
2,023 | 16 | ||
Thereafter | 28 | ||
Total | 133 | ||
Future estimated rental payments | |||
2,019 | 10 | ||
2,020 | 10 | ||
2,021 | 11 | ||
2,022 | 11 | ||
2,023 | 11 | ||
Thereafter | 37 | ||
Total | 90 | ||
Total future rental commitments | |||
2,019 | 36 | ||
2,020 | 32 | ||
2,021 | 32 | ||
2,022 | 31 | ||
2,023 | 27 | ||
Thereafter | 65 | ||
Total | $ 223 |
COMMITMENTS AND CONTINGENCIES_4
COMMITMENTS AND CONTINGENCIES - CAPITAL LEASES (Details) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | |
Capital Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | |||
Capital leases, current portion | $ 15 | ||
Capital leases, noncurrent portion | 1,255 | ||
Power Purchase Agreements [Member] | |||
Capital Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | |||
2,019 | 210 | ||
2,020 | 210 | ||
2,021 | 211 | ||
2,022 | 211 | ||
2,023 | 211 | ||
Thereafter | 3,196 | ||
Total minimum payments | 4,249 | ||
Less: estimated executory costs | (480) | ||
Less: interest | (2,483) | ||
Present value of net minimum lease payments | 1,286 | ||
Power Purchase Agreement Upon Completion of Power Plant [Member] | |||
Capital Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | |||
Present value of net minimum lease payments | $ 16 | ||
HQ Build To Suit Lease [Member] | |||
Leases, Capital [Abstract] | |||
Capital lease term | 25 years | ||
Capital Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | |||
2,019 | $ 10 | ||
2,020 | 11 | ||
2,021 | 11 | ||
2,022 | 11 | ||
2,023 | 11 | ||
Thereafter | 217 | ||
Total minimum payments | 271 | ||
Present value of net minimum lease payments | 138 | ||
Fleet And Other Capital Leases [Member] | |||
Capital Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | |||
2,019 | 6 | ||
2,020 | 2 | ||
2,021 | 1 | ||
2,022 | 0 | ||
2,023 | 0 | ||
Thereafter | 9 | ||
Present value of net minimum lease payments | 11 | ||
Utility Fleet Leases [Member] | |||
Unrecorded Unconditional Purchase Obligation, Rolling Maturity [Abstract] | |||
Capital lease depreciation expense | 8 | $ 3 | $ 2 |
Infrastructure Construction And Improvements [Member] | |||
Unrecorded Unconditional Purchase Obligation, Rolling Maturity [Abstract] | |||
Estimated payments | 686 | ||
2,019 | 396 | ||
2,020 | 86 | ||
2,021 | 43 | ||
2,022 | 28 | ||
2,023 | 18 | ||
Thereafter | 115 | ||
Infrastructure Construction And Improvements [Member] | SDG&E [Member] | |||
Unrecorded Unconditional Purchase Obligation, Rolling Maturity [Abstract] | |||
Construction projects, payable | 144 | ||
2,019 | 43 | ||
2,020 | 62 | ||
2,021 | 22 | ||
2,022 | 11 | ||
2,023 | 2 | ||
Thereafter | 4 | ||
Infrastructure Construction And Improvements [Member] | Sempra South American Utilities [Member] | |||
Unrecorded Unconditional Purchase Obligation, Rolling Maturity [Abstract] | |||
2,019 | 14 | ||
Pipelines [Member] | Sempra Mexico [Member] | |||
Unrecorded Unconditional Purchase Obligation, Rolling Maturity [Abstract] | |||
Estimated payments | 469 | ||
2,019 | 287 | ||
2,020 | 21 | ||
2,021 | 18 | ||
2,022 | 16 | ||
2,023 | 16 | ||
Thereafter | 111 | ||
Natural Gas Pipelines and Ongoing Maintenance Services [Member] | Sempra Mexico [Member] | |||
Unrecorded Unconditional Purchase Obligation, Rolling Maturity [Abstract] | |||
Estimated payments | 266 | ||
Liquid Fuels Terminals [Member] | Sempra Mexico [Member] | |||
Unrecorded Unconditional Purchase Obligation, Rolling Maturity [Abstract] | |||
Estimated payments | 94 | ||
Renewables Projects [Member] | Sempra Mexico [Member] | |||
Unrecorded Unconditional Purchase Obligation, Rolling Maturity [Abstract] | |||
Estimated payments | 109 | ||
Infrastructure Improvements For Natural Gas And Electric Transmission And Distribution [Member] | SDG&E [Member] | |||
Unrecorded Unconditional Purchase Obligation, Rolling Maturity [Abstract] | |||
Construction projects, payable | 135 | ||
Sempra Renewables Construction [Member] | Sempra Renewables [Member] | |||
Unrecorded Unconditional Purchase Obligation, Rolling Maturity [Abstract] | |||
Estimated payments | 13 | ||
2,019 | 6 | ||
2,020 | 3 | ||
2,021 | 3 | ||
2,022 | 1 | ||
Sempra LNG & Midstream Construction [Member] | Sempra LNG & Midstream [Member] | |||
Unrecorded Unconditional Purchase Obligation, Rolling Maturity [Abstract] | |||
2,019 | 46 | ||
San Diego Gas and Electric Company [Member] | |||
Leases, Capital [Abstract] | |||
Capital lease obligations | $ 1,272 | 732 | |
San Diego Gas and Electric Company [Member] | Power Purchase Agreements [Member] | |||
Leases, Capital [Abstract] | |||
Number of power purchase agreements with Peaker Facilities, capital leases | 6 | ||
Number of power purchase agreements with Peaker Facilities, in commercial operation | 1 | ||
Capital lease obligations | $ 1,270 | ||
Unrecorded Unconditional Purchase Obligation, Rolling Maturity [Abstract] | |||
Capital lease depreciation expense | $ 11 | 8 | 4 |
San Diego Gas and Electric Company [Member] | Purchase Power Agreements With 25 Year Term [Member] | |||
Leases, Capital [Abstract] | |||
Number of power purchase agreements with Peaker Facilities, capital leases | 4 | ||
Capital lease term | 25 years | ||
San Diego Gas and Electric Company [Member] | Purchase Power Agreements With 20 Year Term [Member] | |||
Leases, Capital [Abstract] | |||
Number of power purchase agreements with Peaker Facilities, capital leases | 1 | ||
Capital lease term | 20 years | ||
San Diego Gas and Electric Company [Member] | Purchase Power Agreements With 9 Year Term [Member] | |||
Leases, Capital [Abstract] | |||
Number of power purchase agreements with Peaker Facilities, capital leases | 1 | ||
Capital lease term | 9 years | ||
San Diego Gas and Electric Company [Member] | Fleet And Other Capital Leases [Member] | |||
Capital Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | |||
2,019 | $ 2 | ||
San Diego Gas and Electric Company [Member] | Utility Fleet Leases [Member] | |||
Unrecorded Unconditional Purchase Obligation, Rolling Maturity [Abstract] | |||
Capital lease depreciation expense | 2 | 1 | 1 |
San Diego Gas and Electric Company [Member] | Nuclear Plant Maintenance [Member] | |||
Unrecorded Unconditional Purchase Obligation, Rolling Maturity [Abstract] | |||
Construction projects, payable | 9 | ||
Southern California Gas Company [Member] | |||
Leases, Capital [Abstract] | |||
Capital lease obligations | 3 | 1 | |
Southern California Gas Company [Member] | Fleet And Other Capital Leases [Member] | |||
Capital Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | |||
2,019 | 3 | ||
Southern California Gas Company [Member] | Utility Fleet Leases [Member] | |||
Unrecorded Unconditional Purchase Obligation, Rolling Maturity [Abstract] | |||
Capital lease depreciation expense | $ 6 | $ 2 | $ 1 |
COMMITMENTS AND CONTINGENCIES_5
COMMITMENTS AND CONTINGENCIES - OTHER COMMITMENTS (Details) | 12 Months Ended | |
Dec. 31, 2018USD ($) | Dec. 31, 2011USD ($)MMcf | |
Sunrise Powerlink Construction [Member] | SDG&E [Member] | ||
Loss Contingencies [Line Items] | ||
2,019 | $ 3,000,000 | |
2,020 | 3,000,000 | |
2,021 | 3,000,000 | |
2,022 | 3,000,000 | |
2,023 | 3,000,000 | |
Thereafter | 105,000,000 | |
Other Commitment | $ 120,000,000 | |
Estimated annual escalation | 2.00% | |
Long-term Purchase Commitment, Period | 51 years | |
Present value of future payments | $ 120,000,000 | |
Continental Forge [Member] | Sempra LNG & Midstream [Member] | ||
Loss Contingencies [Line Items] | ||
Long-term Purchase Commitment, Period | 18 years | |
Amount of Natural Gas to be Sold | MMcf | 500 | |
Price index | $ 0.02 |
COMMITMENTS AND CONTINGENCIES_6
COMMITMENTS AND CONTINGENCIES - ENVIRONMENTAL ISSUES (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Environmental Issues [Line Items] | |||
Environmental Costs Recognized, Capitalized in Period | $ 101 | $ 92 | $ 53 |
San Diego Gas and Electric Company [Member] | |||
Environmental Issues [Line Items] | |||
Environmental Costs Recognized, Capitalized in Period | 38 | 46 | 17 |
Southern California Gas Company [Member] | |||
Environmental Issues [Line Items] | |||
Environmental Costs Recognized, Capitalized in Period | $ 62 | $ 45 | $ 35 |
COMMITMENTS AND CONTINGENCIES_7
COMMITMENTS AND CONTINGENCIES - SITE CONTINGENCY (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2018USD ($) | |
Site Contingency [Line Items] | |
Accrual for environmental loss contingencies | $ 37 |
Accrual for environmental loss contingencies, current | 10 |
Accrual for environmental loss contingencies, noncurrent | 27 |
Manufactured Gas Sites [Member] | |
Site Contingency [Line Items] | |
Accrual for environmental loss contingencies | 30 |
Waste Disposal Sites [Member] | |
Site Contingency [Line Items] | |
Accrual for environmental loss contingencies | 4 |
Other Hazardous Waste Sites [Member] | |
Site Contingency [Line Items] | |
Accrual for environmental loss contingencies | 3 |
San Diego Gas and Electric Company [Member] | |
Site Contingency [Line Items] | |
Accrual for environmental loss contingencies | 5 |
Accrual for environmental loss contingencies, current | 1 |
Accrual for environmental loss contingencies, noncurrent | 4 |
Estimated SONGS mitigation costs, recoverable in rates | 68 |
SONGS mitigation costs incurred | 45 |
SONGS mitigation costs remaining | $ 23 |
San Diego Gas and Electric Company [Member] | Manufactured Gas Sites [Member] | |
Site Contingency [Line Items] | |
Site Contingency, Sites Completed | 3 |
Site Contingency, Sites In Process | 0 |
Accrual for environmental loss contingencies | $ 0 |
San Diego Gas and Electric Company [Member] | Waste Disposal Sites [Member] | |
Site Contingency [Line Items] | |
Site Contingency, Sites Completed | 2 |
Site Contingency, Sites In Process | 1 |
Accrual for environmental loss contingencies | $ 2 |
San Diego Gas and Electric Company [Member] | Other Hazardous Waste Sites [Member] | |
Site Contingency [Line Items] | |
Accrual for environmental loss contingencies | 3 |
San Diego Gas and Electric Company [Member] | California Coastal Reef Expansion [Member] | |
Site Contingency [Line Items] | |
SONGS mitigation costs remaining | 4 |
Southern California Gas Company [Member] | |
Site Contingency [Line Items] | |
Accrual for environmental loss contingencies | 31 |
Accrual for environmental loss contingencies, current | 9 |
Accrual for environmental loss contingencies, noncurrent | $ 22 |
Southern California Gas Company [Member] | Manufactured Gas Sites [Member] | |
Site Contingency [Line Items] | |
Site Contingency, Sites Completed | 39 |
Site Contingency, Sites In Process | 3 |
Accrual for environmental loss contingencies | $ 30 |
Southern California Gas Company [Member] | Waste Disposal Sites [Member] | |
Site Contingency [Line Items] | |
Site Contingency, Sites Completed | 5 |
Site Contingency, Sites In Process | 2 |
Accrual for environmental loss contingencies | $ 1 |
Southern California Gas Company [Member] | Other Hazardous Waste Sites [Member] | |
Site Contingency [Line Items] | |
Accrual for environmental loss contingencies | 0 |
Other Sempra Energy [Member] | |
Site Contingency [Line Items] | |
Accrual for environmental loss contingencies | 1 |
Other Sempra Energy [Member] | Manufactured Gas Sites [Member] | |
Site Contingency [Line Items] | |
Accrual for environmental loss contingencies | 0 |
Other Sempra Energy [Member] | Waste Disposal Sites [Member] | |
Site Contingency [Line Items] | |
Accrual for environmental loss contingencies | 1 |
Other Sempra Energy [Member] | Other Hazardous Waste Sites [Member] | |
Site Contingency [Line Items] | |
Accrual for environmental loss contingencies | $ 0 |
SEGMENT INFORMATION (Details)
SEGMENT INFORMATION (Details) $ in Millions | 12 Months Ended | ||||||
Dec. 31, 2018USD ($)segment | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Jun. 25, 2018 | Mar. 09, 2018 | |||
Segment Reporting Information [Line Items] | |||||||
Number of reportable segments | segment | 7 | ||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||
Segment reporting information, Revenue | $ 11,687 | $ 11,207 | $ 10,183 | ||||
Segment reporting information, Interest Expense | 925 | 659 | [1] | 553 | [1] | ||
Segment reporting information, Interest Income | 104 | 46 | [1] | 26 | [1] | ||
Segment reporting information, Depreciation and Amortization | 1,549 | 1,490 | 1,312 | ||||
Income tax expense | 96 | 1,276 | [1] | 389 | [1] | ||
Earnings attributable to common shares | 924 | 256 | [1] | 1,370 | [1] | ||
Segment Reporting Information, Additional Information [Abstract] | |||||||
Segment Reporting Information Expenditures For Property Plant and Equipment | 3,784 | 3,949 | 4,214 | ||||
Segment reporting information, Assets | 60,638 | 50,454 | 47,786 | ||||
Assets, geographical | 48,785 | 39,030 | 35,028 | ||||
Entity-Wide Disclosure On Geographic Areas, United States [Member] | |||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||
Segment reporting information, Revenue | 8,840 | 8,547 | 8,004 | ||||
Segment Reporting Information, Additional Information [Abstract] | |||||||
Assets, geographical | 40,611 | 31,487 | 28,351 | ||||
Entity-Wide Disclosure On Geographic Areas Mexico [Member] | |||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||
Segment reporting information, Revenue | 1,262 | 1,093 | 623 | ||||
Segment Reporting Information, Additional Information [Abstract] | |||||||
Assets, geographical | 5,800 | 5,363 | 4,814 | ||||
Entity-Wide Disclosure On Geographic Areas, South America [Member] | |||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||
Segment reporting information, Revenue | 1,585 | 1,567 | 1,556 | ||||
Segment Reporting Information, Additional Information [Abstract] | |||||||
Assets, geographical | 2,374 | 2,180 | 1,863 | ||||
Operating Segments [Member] | SDG&E [Member] | |||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||
Segment reporting information, Revenue | 4,568 | 4,476 | 4,253 | ||||
Segment reporting information, Interest Expense | 221 | 203 | 195 | ||||
Segment reporting information, Interest Income | 4 | 0 | 0 | ||||
Segment reporting information, Depreciation and Amortization | 688 | 670 | 646 | ||||
Income tax expense | 173 | 155 | 280 | ||||
Earnings attributable to common shares | 669 | 407 | 570 | ||||
Segment Reporting Information, Additional Information [Abstract] | |||||||
Segment Reporting Information Expenditures For Property Plant and Equipment | 1,542 | 1,555 | 1,399 | ||||
Segment reporting information, Assets | 19,225 | 17,844 | 17,719 | ||||
Operating Segments [Member] | SoCalGas [Member] | |||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||
Segment reporting information, Revenue | 3,962 | 3,785 | 3,471 | ||||
Segment reporting information, Interest Expense | 115 | 102 | 97 | ||||
Segment reporting information, Interest Income | 2 | 1 | 1 | ||||
Segment reporting information, Depreciation and Amortization | 556 | 515 | 476 | ||||
Income tax expense | 92 | 160 | 143 | ||||
Earnings attributable to common shares | 400 | 396 | 349 | ||||
Segment Reporting Information, Additional Information [Abstract] | |||||||
Segment Reporting Information Expenditures For Property Plant and Equipment | 1,538 | 1,367 | 1,319 | ||||
Segment reporting information, Assets | 15,389 | 14,159 | 13,424 | ||||
Operating Segments [Member] | Sempra Texas Utility [Member] | |||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||
Earnings attributable to common shares | 371 | 0 | 0 | ||||
Segment Reporting Information, Additional Information [Abstract] | |||||||
Segment reporting information, Assets | 9,652 | 0 | 0 | ||||
Operating Segments [Member] | Sempra South American Utilities [Member] | |||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||
Segment reporting information, Revenue | 1,585 | 1,567 | 1,556 | ||||
Segment reporting information, Interest Expense | 40 | 38 | 38 | ||||
Segment reporting information, Interest Income | 31 | 28 | 21 | ||||
Segment reporting information, Depreciation and Amortization | 58 | 54 | 49 | ||||
Income tax expense | 95 | 80 | 80 | ||||
Earnings attributable to common shares | 199 | 186 | 156 | ||||
Segment Reporting Information, Additional Information [Abstract] | |||||||
Segment Reporting Information Expenditures For Property Plant and Equipment | 240 | 244 | 194 | ||||
Segment reporting information, Assets | 4,107 | 4,060 | 3,591 | ||||
Operating Segments [Member] | Sempra Mexico [Member] | |||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||
Segment reporting information, Revenue | 1,376 | 1,196 | 725 | ||||
Segment reporting information, Interest Expense | 120 | 97 | 13 | ||||
Segment reporting information, Interest Income | 65 | 23 | 6 | ||||
Segment reporting information, Depreciation and Amortization | 175 | 156 | 77 | ||||
Income tax expense | 185 | 227 | 188 | ||||
Earnings attributable to common shares | 237 | 169 | 463 | ||||
Segment Reporting Information, Additional Information [Abstract] | |||||||
Segment Reporting Information Expenditures For Property Plant and Equipment | 368 | 248 | 330 | ||||
Segment reporting information, Assets | 9,165 | 8,554 | 7,542 | ||||
Operating Segments [Member] | Sempra Renewables [Member] | |||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||
Segment reporting information, Revenue | 124 | 94 | 34 | ||||
Segment reporting information, Interest Expense | 19 | 15 | 4 | ||||
Segment reporting information, Interest Income | 12 | 7 | 5 | ||||
Segment reporting information, Depreciation and Amortization | 27 | 38 | 6 | ||||
Income tax expense | 71 | (226) | (38) | ||||
Earnings attributable to common shares | 328 | 252 | 55 | ||||
Segment Reporting Information, Additional Information [Abstract] | |||||||
Segment Reporting Information Expenditures For Property Plant and Equipment | 51 | 497 | 835 | ||||
Segment reporting information, Assets | 2,549 | 2,898 | 3,644 | ||||
Operating Segments [Member] | Sempra LNG & Midstream [Member] | |||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||
Segment reporting information, Revenue | 472 | 540 | 508 | ||||
Segment reporting information, Interest Expense | 21 | 39 | 43 | ||||
Segment reporting information, Interest Income | 49 | 56 | 71 | ||||
Segment reporting information, Depreciation and Amortization | 26 | 42 | 47 | ||||
Income tax expense | (435) | (119) | (80) | ||||
Earnings attributable to common shares | (617) | 150 | (107) | ||||
Segment Reporting Information, Additional Information [Abstract] | |||||||
Segment Reporting Information Expenditures For Property Plant and Equipment | 31 | 20 | 117 | ||||
Segment reporting information, Assets | 4,060 | 4,872 | 5,564 | ||||
Adjustment and Elimination [Member] | |||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||
Segment reporting information, Revenue | (3) | (1) | 0 | ||||
Intersegment Eliminations [Member] | |||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||
Segment reporting information, Revenue | (397) | (450) | (364) | ||||
Segment reporting information, Interest Expense | (107) | (119) | (119) | ||||
Segment reporting information, Interest Income | (73) | (69) | (78) | ||||
Segment Reporting Information, Additional Information [Abstract] | |||||||
Segment reporting information, Assets | (4,240) | (2,848) | (4,173) | ||||
Intersegment Eliminations [Member] | SDG&E [Member] | |||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||
Segment reporting information, Revenue | 4 | 7 | 6 | ||||
Intersegment Eliminations [Member] | SoCalGas [Member] | |||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||
Segment reporting information, Revenue | 64 | 74 | 76 | ||||
Intersegment Eliminations [Member] | Sempra Mexico [Member] | |||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||
Segment reporting information, Revenue | 114 | 103 | 102 | ||||
Intersegment Eliminations [Member] | Sempra LNG & Midstream [Member] | |||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||
Segment reporting information, Revenue | 215 | 266 | 180 | ||||
All Other [Member] | |||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||
Segment reporting information, Interest Expense | 496 | 284 | 282 | ||||
Segment reporting information, Interest Income | 14 | 0 | 0 | ||||
Segment reporting information, Depreciation and Amortization | 19 | 15 | 11 | ||||
Income tax expense | (85) | 999 | (184) | ||||
Earnings attributable to common shares | (663) | (1,304) | (116) | ||||
Segment Reporting Information, Additional Information [Abstract] | |||||||
Segment Reporting Information Expenditures For Property Plant and Equipment | 14 | 18 | 20 | ||||
Segment reporting information, Assets | $ 731 | $ 915 | $ 475 | ||||
Oncor Electric Delivery Company LLC [Member] | |||||||
Segment Reporting Information [Line Items] | |||||||
Acquired percentage interest | 80.25% | ||||||
Oncor Holdings Electric Delivery Company LLC [Member] | Oncor Electric Delivery Company LLC [Member] | Sempra Texas Utility [Member] | |||||||
Segment Reporting Information [Line Items] | |||||||
Ownership interest | 80.25% | ||||||
Disposal Group Held-for-sale [Member] | Bay Gas [Member] | Non-utility Natural gas Storage Assets [Member] | Sempra LNG & Midstream [Member] | |||||||
Segment Reporting Information [Line Items] | |||||||
Ownership interest | 90.90% | ||||||
[1] | As adjusted for the retrospective adoption of ASU 2017-07, which we discuss in Note 2 , and a reclassification to conform to current year presentation, which we discuss in Note 1 |
QUARTERLY FINANCIAL DATA (UNA_3
QUARTERLY FINANCIAL DATA (UNAUDITED) (Details) - USD ($) $ / shares in Units, shares in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | [1] | Dec. 31, 2016 | [1] | |
Selected Quarterly Financial Information [Line Items] | |||||||||||||
Revenues | $ 3,221,000,000 | $ 2,940,000,000 | $ 2,564,000,000 | $ 2,962,000,000 | $ 2,964,000,000 | $ 2,679,000,000 | $ 2,533,000,000 | $ 3,031,000,000 | $ 11,687,000,000 | $ 11,207,000,000 | $ 10,183,000,000 | ||
Expenses and other income | 2,160,000,000 | 2,513,000,000 | 3,673,000,000 | 2,295,000,000 | 2,567,000,000 | 2,674,000,000 | 2,136,000,000 | 2,279,000,000 | |||||
Operating revenues | 10,046,000,000 | 9,776,000,000 | 9,261,000,000 | ||||||||||
Net income | 964,000,000 | 334,000,000 | (530,000,000) | 358,000,000 | (451,000,000) | 102,000,000 | 248,000,000 | 452,000,000 | 1,126,000,000 | 351,000,000 | 1,519,000,000 | ||
(Earnings) losses attributable to noncontrolling interest | (76,000,000) | (94,000,000) | (148,000,000) | ||||||||||
Earnings attributable to common shares | $ 924,000,000 | $ 256,000,000 | $ 1,370,000,000 | ||||||||||
Earnings | $ 864,000,000 | $ 274,000,000 | $ (561,000,000) | $ 347,000,000 | $ (501,000,000) | $ 57,000,000 | $ 259,000,000 | $ 441,000,000 | |||||
Basic earnings per common share (in dollars per share) | $ 3.51 | $ 1.22 | $ (1.99) | $ 1.39 | $ (1.80) | $ 0.41 | $ 0.99 | $ 1.80 | $ 3.45 | $ 1.02 | $ 5.48 | ||
Basic earnings per common share attributable to Sempra Energy (in dollars per share) | $ 3.15 | $ 1 | $ (2.11) | $ 1.34 | $ (1.99) | $ 0.23 | $ 1.03 | $ 1.76 | |||||
Weighted-average number of shares outstanding, basic (in shares) | 274,300 | 273,900 | 265,800 | 257,900 | 251,900 | 251,700 | 251,400 | 251,100 | 268,072 | 251,545 | 250,217 | ||
Diluted earnings per common share (in dollars per share) | $ 3.25 | $ 1.21 | $ (1.99) | $ 1.38 | $ (1.80) | $ 0.41 | $ 0.98 | $ 1.79 | $ 3.42 | $ 1.01 | $ 5.46 | ||
Diluted earnings per common share attributable to Sempra Energy (in dollars per share) | $ 3.03 | $ 0.99 | $ (2.11) | $ 1.33 | $ (1.99) | $ 0.22 | $ 1.03 | $ 1.75 | |||||
Weighted-average number of shares outstanding, diluted (in shares) | 296,400 | 275,900 | 265,800 | 259,500 | 251,900 | 253,400 | 252,800 | 252,200 | 269,852 | 252,300 | 251,155 | ||
Dividends on preferred stock | $ (36,000,000) | $ (125,000,000) | $ 0 | $ 0 | |||||||||
San Diego Gas and Electric Company [Member] | |||||||||||||
Selected Quarterly Financial Information [Line Items] | |||||||||||||
Operating revenues | 1,163,000,000 | $ 1,299,000,000 | $ 1,051,000,000 | $ 1,055,000,000 | $ 1,125,000,000 | $ 1,236,000,000 | $ 1,058,000,000 | $ 1,057,000,000 | 4,568,000,000 | 4,476,000,000 | 4,253,000,000 | ||
Operating expenses | 916,000,000 | 999,000,000 | 836,000,000 | 807,000,000 | 869,000,000 | 1,294,000,000 | 821,000,000 | 783,000,000 | 3,558,000,000 | 3,767,000,000 | 3,277,000,000 | ||
Operating income | 247,000,000 | 300,000,000 | 215,000,000 | 248,000,000 | 256,000,000 | (58,000,000) | 237,000,000 | 274,000,000 | 1,010,000,000 | 709,000,000 | 976,000,000 | ||
Net income | 145,000,000 | 216,000,000 | 146,000,000 | 169,000,000 | 130,000,000 | (19,000,000) | 153,000,000 | 157,000,000 | 676,000,000 | 421,000,000 | 565,000,000 | ||
(Earnings) losses attributable to noncontrolling interest | 3,000,000 | (11,000,000) | 0 | 1,000,000 | 1,000,000 | (9,000,000) | (4,000,000) | (2,000,000) | (7,000,000) | (14,000,000) | 5,000,000 | ||
Earnings attributable to common shares | 148,000,000 | 205,000,000 | 146,000,000 | 170,000,000 | 131,000,000 | (28,000,000) | 149,000,000 | 155,000,000 | 669,000,000 | 407,000,000 | 570,000,000 | ||
Southern California Gas Company [Member] | |||||||||||||
Selected Quarterly Financial Information [Line Items] | |||||||||||||
Operating revenues | 1,262,000,000 | 802,000,000 | 772,000,000 | 1,126,000,000 | 1,090,000,000 | 684,000,000 | 770,000,000 | 1,241,000,000 | 3,962,000,000 | 3,785,000,000 | 3,471,000,000 | ||
Operating expenses | 1,023,000,000 | 797,000,000 | 703,000,000 | 848,000,000 | 860,000,000 | 679,000,000 | 690,000,000 | 929,000,000 | 3,371,000,000 | 3,158,000,000 | 2,920,000,000 | ||
Operating income | 239,000,000 | 5,000,000 | 69,000,000 | 278,000,000 | 230,000,000 | 5,000,000 | 80,000,000 | 312,000,000 | 591,000,000 | 627,000,000 | 551,000,000 | ||
Net income | 156,000,000 | (14,000,000) | 34,000,000 | 225,000,000 | 128,000,000 | 7,000,000 | 59,000,000 | 203,000,000 | 401,000,000 | 397,000,000 | 350,000,000 | ||
Earnings attributable to common shares | 156,000,000 | (14,000,000) | 33,000,000 | 225,000,000 | 128,000,000 | 7,000,000 | 58,000,000 | 203,000,000 | 400,000,000 | 396,000,000 | 349,000,000 | ||
Dividends on preferred stock | $ 0 | $ 0 | $ (1,000,000) | $ 0 | $ 0 | $ 0 | $ (1,000,000) | $ 0 | $ (1,000,000) | $ (1,000,000) | $ (1,000,000) | ||
[1] | As adjusted for the retrospective adoption of ASU 2017-07, which we discuss in Note 2 , and a reclassification to conform to current year presentation, which we discuss in Note 1 |
QUARTERLY FINANCIAL DATA (UNA_4
QUARTERLY FINANCIAL DATA (UNAUDITED) - NARRATIVE (Details) - USD ($) | 1 Months Ended | 3 Months Ended | 12 Months Ended | ||||||||||
Dec. 31, 2018 | Jun. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Jun. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | [1] | Sep. 30, 2018 | ||
Significant Items Affecting Quarterly Results [Line Items] | |||||||||||||
Gain on sale of assets | $ 513,000,000 | $ 524,000,000 | $ 3,000,000 | [1] | $ 134,000,000 | ||||||||
Gain on sale of assets, net of tax | 367,000,000 | ||||||||||||
Total increase in income tax expense due to tax cuts and jobs act | $ 870,000,000 | 85,000,000 | 870,000,000 | ||||||||||
Write-off of wildfire regulatory asset | 0 | 351,000,000 | [1] | 0 | |||||||||
San Diego Gas and Electric Company [Member] | |||||||||||||
Significant Items Affecting Quarterly Results [Line Items] | |||||||||||||
Total increase in income tax expense due to tax cuts and jobs act | 0 | 28,000,000 | |||||||||||
Write-off of wildfire regulatory asset | 0 | 351,000,000 | [1] | $ 0 | |||||||||
Termoelectrica de Mexicali [Member] | Sempra Mexico [Member] | |||||||||||||
Significant Items Affecting Quarterly Results [Line Items] | |||||||||||||
Other than temporary impairment in investment | $ 71,000,000 | $ 71,000,000 | $ 131,000,000 | ||||||||||
Other than temporary impairment in investment, net of tax and noncontrolling interest | $ 47,000,000 | ||||||||||||
Loss from Catastrophes [Member] | San Diego Gas and Electric Company [Member] | |||||||||||||
Significant Items Affecting Quarterly Results [Line Items] | |||||||||||||
Write-off of wildfire regulatory asset | $ 351,000,000 | 351,000,000 | |||||||||||
Write-off of wildfire regulatory asset net of tax | $ 208,000,000 | $ 208,000,000 | |||||||||||
Disposal Group Held-for-sale [Member] | |||||||||||||
Significant Items Affecting Quarterly Results [Line Items] | |||||||||||||
Asset impairment charges | $ (1,500,000,000) | ||||||||||||
Asset impairment charges, net of taxes and noncontrolling interests | (900,000,000) | ||||||||||||
Disposal Group Held-for-sale [Member] | Sempra LNG & Midstream [Member] | |||||||||||||
Significant Items Affecting Quarterly Results [Line Items] | |||||||||||||
Asset impairment charges | 183,000,000 | (1,300,000,000) | (1,100,000,000) | ||||||||||
Asset impairment charges, net of taxes and noncontrolling interests | $ 126,000,000 | (755,000,000) | $ (629,000,000) | ||||||||||
Disposal Group Held-for-sale [Member] | Sempra Renewables [Member] | |||||||||||||
Significant Items Affecting Quarterly Results [Line Items] | |||||||||||||
Asset impairment charges | (200,000,000) | ||||||||||||
Asset impairment charges, net of taxes and noncontrolling interests | $ (145,000,000) | ||||||||||||
R B S Sempra Commodities [Member] | |||||||||||||
Significant Items Affecting Quarterly Results [Line Items] | |||||||||||||
Investment in RBS Sempra Commodities | $ 65,000,000 | ||||||||||||
[1] | As adjusted for the retrospective adoption of ASU 2017-07, which we discuss in Note 2 , and a reclassification to conform to current year presentation, which we discuss in Note 1 |
SCHEDULE I - CONDENSED FINANC_4
SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF PARENT - STATEMENT OF OPERATIONS (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | [1] | Dec. 31, 2016 | [1] | |
Condensed Income Statements, Captions [Line Items] | |||||||||||||
Interest income | $ 104 | $ 46 | $ 26 | ||||||||||
Interest expense | (925) | (659) | (553) | ||||||||||
Other (expense) income, net | 72 | 233 | 138 | ||||||||||
Income tax (expense) benefit | (96) | (1,276) | (389) | ||||||||||
Net income | $ 964 | $ 334 | $ (530) | $ 358 | $ (451) | $ 102 | $ 248 | $ 452 | 1,126 | 351 | 1,519 | ||
Dividends on preferred stock | (36) | $ (125) | $ 0 | $ 0 | |||||||||
Earnings attributable to common shares | $ 864 | $ 274 | $ (561) | $ 347 | $ (501) | $ 57 | $ 259 | $ 441 | |||||
Basic earnings per common share (in dollars per share) | $ 3.51 | $ 1.22 | $ (1.99) | $ 1.39 | $ (1.80) | $ 0.41 | $ 0.99 | $ 1.80 | $ 3.45 | $ 1.02 | $ 5.48 | ||
Weighted-average number of shares outstanding, basic (in shares) | 274,300 | 273,900 | 265,800 | 257,900 | 251,900 | 251,700 | 251,400 | 251,100 | 268,072 | 251,545 | 250,217 | ||
Diluted earnings per common share (in dollars per share) | $ 3.25 | $ 1.21 | $ (1.99) | $ 1.38 | $ (1.80) | $ 0.41 | $ 0.98 | $ 1.79 | $ 3.42 | $ 1.01 | $ 5.46 | ||
Weighted-average number of shares outstanding, diluted (in shares) | 296,400 | 275,900 | 265,800 | 259,500 | 251,900 | 253,400 | 252,800 | 252,200 | 269,852 | 252,300 | 251,155 | ||
Parent Company [Member] | |||||||||||||
Condensed Income Statements, Captions [Line Items] | |||||||||||||
Interest income | $ 14 | $ 0 | $ 0 | ||||||||||
Interest expense | (495) | (293) | (277) | ||||||||||
Operation and maintenance | (82) | (80) | (76) | ||||||||||
Other (expense) income, net | (16) | 100 | (7) | ||||||||||
Income tax (expense) benefit | 154 | 33 | 181 | ||||||||||
Net of income tax | (425) | (240) | (179) | ||||||||||
Equity in earnings of subsidiaries, net of income taxes | 1,474 | 496 | 1,549 | ||||||||||
Net income | 1,049 | 256 | 1,370 | ||||||||||
Dividends on preferred stock | (125) | 0 | 0 | ||||||||||
Earnings attributable to common shares | $ 924 | $ 256 | $ 1,370 | ||||||||||
Basic earnings per common share (in dollars per share) | $ 3.45 | $ 1.02 | $ 5.48 | ||||||||||
Weighted-average number of shares outstanding, basic (in shares) | 268,072 | 251,545 | 250,217 | ||||||||||
Diluted earnings per common share (in dollars per share) | $ 3.42 | $ 1.01 | $ 5.46 | ||||||||||
Weighted-average number of shares outstanding, diluted (in shares) | 269,852 | 252,300 | 251,155 | ||||||||||
[1] | As adjusted for the retrospective adoption of ASU 2017-07, which we discuss in Note 2 , and a reclassification to conform to current year presentation, which we discuss in Note 1 |
SCHEDULE I - CONDENSED FINANC_5
SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF PARENT - STATEMENT OF COMPREHENSIVE INCOME (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |||
Condensed Statement of Income Captions [Line Items] | |||||||||||||
Net income | $ 964 | $ 334 | $ (530) | $ 358 | $ (451) | $ 102 | $ 248 | $ 452 | $ 1,126 | $ 351 | [1] | $ 1,519 | [1] |
Total other comprehensive (loss) income | (133) | 142 | 52 | ||||||||||
Pretax amount [Member] | |||||||||||||
Condensed Statement of Income Captions [Line Items] | |||||||||||||
Net income | 1,146 | 1,533 | 1,760 | ||||||||||
Foreign currency translation adjustments | (144) | 107 | 42 | ||||||||||
Financial instruments | 64 | 2 | (6) | ||||||||||
Pension and other postretirement benefits | (38) | 20 | (13) | ||||||||||
Total other comprehensive (loss) income | (118) | 129 | 23 | ||||||||||
Total comprehensive income, after preferred dividends of subsidiaries | 1,027 | 1,661 | 1,782 | ||||||||||
Income tax benefit [Member] | |||||||||||||
Condensed Statement of Income Captions [Line Items] | |||||||||||||
Net income | (96) | (1,276) | (389) | ||||||||||
Foreign currency translation adjustments | 0 | 0 | 0 | ||||||||||
Financial instruments | (21) | 1 | 11 | ||||||||||
Pension and other postretirement benefits | 4 | (8) | 4 | ||||||||||
Total other comprehensive (loss) income | (17) | (7) | 15 | ||||||||||
Total comprehensive income, after preferred dividends of subsidiaries | (113) | (1,283) | (374) | ||||||||||
Net-of-tax amount [Member] | |||||||||||||
Condensed Statement of Income Captions [Line Items] | |||||||||||||
Net income | 1,050 | 257 | 1,371 | ||||||||||
Foreign currency translation adjustments | (144) | 107 | 42 | ||||||||||
Financial instruments | 43 | 3 | 5 | ||||||||||
Pension and other postretirement benefits | (34) | 12 | (9) | ||||||||||
Total other comprehensive (loss) income | (135) | 122 | 38 | ||||||||||
Total comprehensive income, after preferred dividends of subsidiaries | 914 | 378 | 1,408 | ||||||||||
Parent Company [Member] | |||||||||||||
Condensed Statement of Income Captions [Line Items] | |||||||||||||
Net income | 1,049 | 256 | [1] | 1,370 | [1] | ||||||||
Parent Company [Member] | Pretax amount [Member] | |||||||||||||
Condensed Statement of Income Captions [Line Items] | |||||||||||||
Net income | 895 | 223 | 1,189 | ||||||||||
Foreign currency translation adjustments | (144) | 107 | 42 | ||||||||||
Financial instruments | 64 | 2 | (6) | ||||||||||
Pension and other postretirement benefits | (38) | 20 | (13) | ||||||||||
Total other comprehensive (loss) income | (118) | 129 | 23 | ||||||||||
Total comprehensive income, after preferred dividends of subsidiaries | 777 | 352 | 1,212 | ||||||||||
Parent Company [Member] | Income tax benefit [Member] | |||||||||||||
Condensed Statement of Income Captions [Line Items] | |||||||||||||
Net income | 154 | 33 | 181 | ||||||||||
Foreign currency translation adjustments | 0 | 0 | 0 | ||||||||||
Financial instruments | (21) | 1 | 11 | ||||||||||
Pension and other postretirement benefits | 4 | (8) | 4 | ||||||||||
Total other comprehensive (loss) income | (17) | (7) | 15 | ||||||||||
Total comprehensive income, after preferred dividends of subsidiaries | 137 | 26 | 196 | ||||||||||
Parent Company [Member] | Net-of-tax amount [Member] | |||||||||||||
Condensed Statement of Income Captions [Line Items] | |||||||||||||
Net income | 1,049 | 256 | 1,370 | ||||||||||
Foreign currency translation adjustments | (144) | 107 | 42 | ||||||||||
Financial instruments | 43 | 3 | 5 | ||||||||||
Pension and other postretirement benefits | (34) | 12 | (9) | ||||||||||
Total other comprehensive (loss) income | (135) | 122 | 38 | ||||||||||
Total comprehensive income, after preferred dividends of subsidiaries | $ 914 | $ 378 | $ 1,408 | ||||||||||
[1] | As adjusted for the retrospective adoption of ASU 2017-07, which we discuss in Note 2 , and a reclassification to conform to current year presentation, which we discuss in Note 1 |
SCHEDULE I - CONDENSED FINANC_6
SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF PARENT - BALANCE SHEETS (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
ASSETS | ||||
Cash and cash equivalents | $ 190 | $ 288 | ||
Due from affiliates | 39 | 37 | ||
Income taxes receivable | 68 | 110 | ||
Other current assets | 257 | 202 | ||
Total current assets | 3,645 | 3,341 | ||
Due from affiliates | 688 | 598 | ||
Deferred income taxes | 151 | 170 | ||
Other assets | 974 | 792 | ||
Total assets | 60,638 | 50,454 | $ 47,786 | |
Liabilities and shareholders’ equity: | ||||
Current portion of long-term debt | 1,673 | 1,427 | ||
Due to affiliates | 10 | 7 | ||
Other current liabilities | 970 | 816 | ||
Total current liabilities | 7,523 | 6,635 | ||
Long-term debt | 21,611 | 16,445 | ||
Due to affiliates | 37 | 35 | ||
Commitments and contingencies (Note 4) | ||||
Total shareholders’ equity | 17,138 | 12,670 | ||
Total liabilities and equity | 60,638 | 50,454 | ||
Parent Company [Member] | ||||
ASSETS | ||||
Cash and cash equivalents | 14 | 104 | $ 12 | $ 4 |
Due from affiliates | 93 | 83 | ||
Income taxes receivable | 397 | 272 | ||
Other current assets | 9 | 6 | ||
Total current assets | 513 | 465 | ||
Investments in subsidiaries | 28,778 | 17,924 | ||
Due from affiliates | 3 | 2 | ||
Deferred income taxes | 1,554 | 1,802 | ||
Other assets | 572 | 656 | ||
Total assets | 31,420 | 20,849 | ||
Liabilities and shareholders’ equity: | ||||
Current portion of long-term debt | 1,498 | 500 | ||
Due to affiliates | 287 | 280 | ||
Other current liabilities | 527 | 396 | ||
Total current liabilities | 2,312 | 1,176 | ||
Long-term debt | 9,647 | 6,198 | ||
Due to affiliates | 1,812 | 300 | ||
Other long-term liabilities | 511 | 505 | ||
Commitments and contingencies (Note 4) | ||||
Total shareholders’ equity | 17,138 | 12,670 | ||
Total liabilities and equity | $ 31,420 | $ 20,849 |
SCHEDULE I - CONDENSED FINANC_7
SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF PARENT - CASH FLOWS (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Condensed Cash Flow Statements, Captions [Line Items] | |||
Net cash used in operating activities | $ 3,447 | $ 3,625 | $ 2,311 |
Expenditures for property, plant and equipment | (3,784) | (3,949) | (4,214) |
Expenditures for acquisition | 9,776 | 147 | 1,342 |
Net cash used in investing activities | (12,557) | (4,700) | (4,835) |
Common stock dividends paid | (877) | (755) | (686) |
Preferred dividends paid | (89) | 0 | 0 |
Issuances of mandatory convertible preferred stock, net of $42 in offering costs in 2018 | 2,258 | 0 | 0 |
Issuances of common stock, net of $41 in offering costs in 2018 | 2,272 | 47 | 51 |
Repurchases of common stock | (21) | (15) | (56) |
Issuances of long-term debt | 9,174 | 4,509 | 2,951 |
Payments on long-term debt | (3,510) | (2,800) | (2,057) |
Net cash provided by financing activities | 9,006 | 1,007 | 2,502 |
Cash and cash equivalents, January 1 | 288 | ||
Cash and cash equivalents, December 31 | 190 | 288 | |
SUPPLEMENTAL DISCLOSURE OF NONCASH FINANCING ACTIVITIES | |||
Accrued Merger-related transaction costs | 0 | 31 | 0 |
Common dividends issued in stock | 54 | 53 | 53 |
Parent Company [Member] | |||
Condensed Cash Flow Statements, Captions [Line Items] | |||
Net cash used in operating activities | 213 | 89 | (3) |
Expenditures for property, plant and equipment | (11) | (11) | (5) |
Expenditures for acquisition | (329) | 0 | 0 |
Capital contributions to investees | (9,457) | 0 | 0 |
Decrease (increase) in loans to affiliate, net | (1) | 0 | 457 |
Expenditures for Merger-related costs | 0 | (12) | 0 |
Net cash used in investing activities | (9,798) | (23) | 452 |
Common stock dividends paid | (877) | (755) | (686) |
Preferred dividends paid | (89) | 0 | 0 |
Issuances of mandatory convertible preferred stock, net of $42 in offering costs in 2018 | 2,258 | 0 | 0 |
Issuances of common stock, net of $41 in offering costs in 2018 | 2,272 | 47 | 51 |
Repurchases of common stock | (21) | (15) | (56) |
Issuances of long-term debt | 4,969 | 1,595 | 499 |
Payments on long-term debt | (500) | (600) | (750) |
Increase (decrease) in loans from affiliates, net | 1,520 | (239) | 504 |
Payments of Debt Issuance Costs | (37) | (7) | (3) |
Net cash provided by financing activities | 9,495 | 26 | (441) |
Increase (decrease) in cash and cash equivalents | (90) | 92 | 8 |
Cash and cash equivalents, January 1 | 104 | 12 | 4 |
Cash and cash equivalents, December 31 | 14 | 104 | 12 |
SUPPLEMENTAL DISCLOSURE OF NONCASH FINANCING ACTIVITIES | |||
Accrued Merger-related transaction costs | 0 | 31 | 0 |
Preferred dividends declared but not paid | 36 | 0 | 0 |
Common dividends issued in stock | 54 | 53 | 53 |
Common dividends declared but not paid | 245 | $ 207 | $ 189 |
Non-controlling interests [Member] | Parent Company [Member] | |||
SUPPLEMENTAL DISCLOSURE OF NONCASH FINANCING ACTIVITIES | |||
Offering costs from issuance of mandatory convertible preferred stock | 42 | ||
Common Stock [Member] | Parent Company [Member] | |||
SUPPLEMENTAL DISCLOSURE OF NONCASH FINANCING ACTIVITIES | |||
Offering costs from issuance of common stock | $ 41 |
SCHEDULE I - CONDENSED FINANC_8
SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF PARENT - FOOTNOTES (Details) - USD ($) $ in Millions | Jan. 01, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Basis of Presentation | ||||||
Rabbi trust investment gains | $ 6 | $ 12 | $ 12 | |||
Gain (loss) on settlement | 10 | (7) | (21) | |||
New Accounting Standards | ||||||
Deferred income taxes | 151 | 170 | ||||
Property, plant and equipment, net | 36,796 | 36,503 | ||||
Other | 970 | 816 | ||||
Retained earnings | 10,104 | 10,147 | ||||
Other (expense) income, net | 72 | 233 | [1] | 138 | [1] | |
Debt Instruments [Abstract] | ||||||
Current portion of long-term debt | (1,673) | (1,427) | ||||
Long-term debt | 21,611 | 16,445 | ||||
Long-term Debt, Fiscal Year Maturity [Abstract] | ||||||
2,019 | 1,654 | |||||
2,020 | 1,619 | |||||
2,021 | 2,125 | |||||
2,022 | 682 | |||||
2,023 | 1,821 | |||||
Thereafter | 14,166 | |||||
Accounting Standards Update 2017-07 [Member] | ||||||
New Accounting Standards | ||||||
Other (expense) income, net | 233 | 138 | ||||
Accounting Standards Update 2017-07 [Member] | As previously reported [Member] | ||||||
New Accounting Standards | ||||||
Other (expense) income, net | 254 | 132 | ||||
Accounting Standards Update 2017-07 [Member] | Effect of adoption [Member] | ||||||
New Accounting Standards | ||||||
Other (expense) income, net | (21) | 6 | ||||
Parent Company [Member] | ||||||
Basis of Presentation | ||||||
Rabbi trust investment gains | (6) | 56 | 23 | |||
New Accounting Standards | ||||||
Deferred income taxes | 1,554 | 1,802 | ||||
Other | 527 | 396 | ||||
Other long-term liabilities | 511 | 505 | ||||
Operation and maintenance | (82) | (80) | [1] | (76) | [1] | |
Other (expense) income, net | (16) | 100 | [1] | (7) | [1] | |
Debt Instruments [Abstract] | ||||||
Gross long-term debt | 11,238 | 6,737 | ||||
Market value adjustments for interest rate swaps, net | 0 | (1) | ||||
Build-to-suit lease | 138 | 138 | ||||
Current portion of long-term debt | (1,498) | (500) | ||||
Unamortized discount on long-term debt | (38) | (13) | ||||
Unamortized debt issuance costs | (55) | (26) | ||||
Long-term debt | 9,647 | 6,198 | ||||
Long-term Debt, Fiscal Year Maturity [Abstract] | ||||||
2,019 | 1,500 | |||||
2,020 | 1,400 | |||||
2,021 | 1,500 | |||||
2,022 | 500 | |||||
2,023 | 1,000 | |||||
Thereafter | 5,200 | |||||
Parent Company [Member] | Other Long-term Debt, Due June 2018 [Member] | ||||||
Debt Instruments [Abstract] | ||||||
Gross long-term debt | 0 | $ 500 | ||||
Stated percentage rate | 6.15% | |||||
Parent Company [Member] | Other Long-term Debt, Due February 2019 [Member] | ||||||
Debt Instruments [Abstract] | ||||||
Gross long-term debt | $ 500 | $ 500 | ||||
Stated percentage rate | 9.80% | |||||
Parent Company [Member] | Other Long-term Debt, October 2019 [Member] | ||||||
Debt Instruments [Abstract] | ||||||
Gross long-term debt | $ 500 | 500 | ||||
Stated percentage rate | 1.625% | |||||
Parent Company [Member] | Other Long Term Debt Due February 2020 [Member] | ||||||
Debt Instruments [Abstract] | ||||||
Gross long-term debt | $ 500 | 0 | ||||
Stated percentage rate | 2.40% | |||||
Parent Company [Member] | Other Long Term Debt Due March 2020 [Member] | ||||||
Debt Instruments [Abstract] | ||||||
Gross long-term debt | $ 500 | 500 | ||||
Stated percentage rate | 2.40% | |||||
Parent Company [Member] | Other Long Term Debt, Due November 2020 [Member] | ||||||
Debt Instruments [Abstract] | ||||||
Gross long-term debt | $ 400 | 400 | ||||
Stated percentage rate | 2.85% | |||||
Parent Company [Member] | Other Long-term Debt, Due January 2021 [Member] | ||||||
Debt Instruments [Abstract] | ||||||
Gross long-term debt | $ 700 | 0 | ||||
Stated percentage rate | 2.94% | |||||
Parent Company [Member] | Other Long Term Debt, Due March 2021 [Member] | ||||||
Debt Instruments [Abstract] | ||||||
Gross long-term debt | $ 850 | 850 | ||||
Stated percentage rate | 3.24% | |||||
Parent Company [Member] | Other Long-term Debt, Due February 2023 [Member] | ||||||
Debt Instruments [Abstract] | ||||||
Gross long-term debt | $ 500 | 0 | ||||
Stated percentage rate | 2.90% | |||||
Parent Company [Member] | Other Long-term Debt, Due July 2019 [Member] | ||||||
Debt Instruments [Abstract] | ||||||
Gross long-term debt | $ 500 | 0 | ||||
Stated percentage rate | 2.69% | |||||
Parent Company [Member] | Other Long-term Debt, Due October 2022 [Member] | ||||||
Debt Instruments [Abstract] | ||||||
Gross long-term debt | $ 500 | 500 | ||||
Stated percentage rate | 2.875% | |||||
Parent Company [Member] | Other Long-term Debt, Due December 2023 [Member] | ||||||
Debt Instruments [Abstract] | ||||||
Gross long-term debt | $ 500 | 500 | ||||
Stated percentage rate | 4.05% | |||||
Parent Company [Member] | Other Long Term Debt Due June 2024 [Member] | ||||||
Debt Instruments [Abstract] | ||||||
Gross long-term debt | $ 500 | 500 | ||||
Stated percentage rate | 3.55% | |||||
Parent Company [Member] | Other Long Term Debt Due February 2028 [Member] | ||||||
Debt Instruments [Abstract] | ||||||
Gross long-term debt | $ 1,000 | 0 | ||||
Stated percentage rate | 3.40% | |||||
Parent Company [Member] | Other Long Term Debt Due February 2038 [Member] | ||||||
Debt Instruments [Abstract] | ||||||
Gross long-term debt | $ 1,000 | 0 | ||||
Stated percentage rate | 3.80% | |||||
Parent Company [Member] | Other Long-term Debt, Due November 2025 [Member] | ||||||
Debt Instruments [Abstract] | ||||||
Gross long-term debt | $ 350 | 350 | ||||
Stated percentage rate | 3.75% | |||||
Parent Company [Member] | Other Long Term Debt Due February 2048 [Member] | ||||||
Debt Instruments [Abstract] | ||||||
Gross long-term debt | $ 800 | 0 | ||||
Stated percentage rate | 4.00% | |||||
Parent Company [Member] | Other Long Term Debt Due June 2027 [Member] | ||||||
Debt Instruments [Abstract] | ||||||
Gross long-term debt | $ 750 | 750 | ||||
Stated percentage rate | 3.25% | |||||
Parent Company [Member] | Other Long-term Debt, Due October 2039 [Member] | ||||||
Debt Instruments [Abstract] | ||||||
Gross long-term debt | $ 750 | 750 | ||||
Stated percentage rate | 6.00% | |||||
Parent Company [Member] | Accounting Standards Update 2017-07 [Member] | ||||||
New Accounting Standards | ||||||
Operation and maintenance | (80) | (76) | ||||
Other (expense) income, net | 100 | (7) | ||||
Parent Company [Member] | Accounting Standards Update 2017-07 [Member] | As previously reported [Member] | ||||||
New Accounting Standards | ||||||
Operation and maintenance | (87) | (81) | ||||
Other (expense) income, net | 107 | (2) | ||||
Parent Company [Member] | Accounting Standards Update 2017-07 [Member] | Effect of adoption [Member] | ||||||
New Accounting Standards | ||||||
Operation and maintenance | 7 | 5 | ||||
Other (expense) income, net | (7) | (5) | ||||
Parent Company [Member] | Foreign exchange instruments [Member] | ||||||
Basis of Presentation | ||||||
Gain (loss) on settlement | $ 3 | 50 | $ (28) | |||
Sempra Energy [Member] | ||||||
Debt Instruments [Abstract] | ||||||
Build-to-suit lease | 138 | 138 | ||||
Sempra Energy [Member] | Other Long-term Debt, Due June 2018 [Member] | ||||||
Debt Instruments [Abstract] | ||||||
Gross long-term debt | 0 | $ 500 | ||||
Stated percentage rate | 6.15% | |||||
Sempra Energy [Member] | Other Long-term Debt, Due February 2019 [Member] | ||||||
Debt Instruments [Abstract] | ||||||
Gross long-term debt | $ 500 | $ 500 | ||||
Stated percentage rate | 9.80% | |||||
Sempra Energy [Member] | Other Long-term Debt, October 2019 [Member] | ||||||
Debt Instruments [Abstract] | ||||||
Gross long-term debt | $ 500 | 500 | ||||
Stated percentage rate | 1.625% | |||||
Sempra Energy [Member] | Other Long Term Debt Due February 2020 [Member] | ||||||
Debt Instruments [Abstract] | ||||||
Gross long-term debt | $ 500 | 0 | ||||
Sempra Energy [Member] | Other Long Term Debt Due March 2020 [Member] | ||||||
Debt Instruments [Abstract] | ||||||
Gross long-term debt | $ 500 | 500 | ||||
Stated percentage rate | 2.40% | |||||
Sempra Energy [Member] | Other Long Term Debt, Due November 2020 [Member] | ||||||
Debt Instruments [Abstract] | ||||||
Gross long-term debt | $ 400 | 400 | ||||
Stated percentage rate | 2.85% | |||||
Sempra Energy [Member] | Other Long-term Debt, Due January 2021 [Member] | ||||||
Debt Instruments [Abstract] | ||||||
Gross long-term debt | $ 700 | 0 | ||||
Sempra Energy [Member] | Other Long Term Debt, Due March 2021 [Member] | ||||||
Debt Instruments [Abstract] | ||||||
Gross long-term debt | 850 | 850 | ||||
Sempra Energy [Member] | Other Long-term Debt, Due February 2023 [Member] | ||||||
Debt Instruments [Abstract] | ||||||
Gross long-term debt | $ 500 | 0 | ||||
Stated percentage rate | 2.90% | |||||
Sempra Energy [Member] | Other Long-term Debt, Due July 2019 [Member] | ||||||
Debt Instruments [Abstract] | ||||||
Gross long-term debt | $ 500 | 0 | ||||
Stated percentage rate | 2.69% | |||||
Sempra Energy [Member] | Other Long-term Debt, Due October 2022 [Member] | ||||||
Debt Instruments [Abstract] | ||||||
Gross long-term debt | $ 500 | 500 | ||||
Stated percentage rate | 2.875% | |||||
Sempra Energy [Member] | Other Long-term Debt, Due December 2023 [Member] | ||||||
Debt Instruments [Abstract] | ||||||
Gross long-term debt | $ 500 | 500 | ||||
Stated percentage rate | 4.05% | |||||
Sempra Energy [Member] | Other Long Term Debt Due June 2024 [Member] | ||||||
Debt Instruments [Abstract] | ||||||
Gross long-term debt | $ 500 | 500 | ||||
Stated percentage rate | 3.55% | |||||
Sempra Energy [Member] | Other Long Term Debt Due February 2028 [Member] | ||||||
Debt Instruments [Abstract] | ||||||
Gross long-term debt | $ 1,000 | 0 | ||||
Sempra Energy [Member] | Other Long Term Debt Due February 2038 [Member] | ||||||
Debt Instruments [Abstract] | ||||||
Gross long-term debt | 1,000 | 0 | ||||
Sempra Energy [Member] | Other Long-term Debt, Due November 2025 [Member] | ||||||
Debt Instruments [Abstract] | ||||||
Gross long-term debt | $ 350 | 350 | ||||
Stated percentage rate | 3.75% | |||||
Sempra Energy [Member] | Other Long Term Debt Due February 2048 [Member] | ||||||
Debt Instruments [Abstract] | ||||||
Gross long-term debt | $ 800 | 0 | ||||
Stated percentage rate | 4.00% | |||||
Sempra Energy [Member] | Other Long Term Debt Due June 2027 [Member] | ||||||
Debt Instruments [Abstract] | ||||||
Gross long-term debt | $ 750 | 750 | ||||
Stated percentage rate | 3.25% | |||||
Sempra Energy [Member] | Other Long-term Debt, Due October 2039 [Member] | ||||||
Debt Instruments [Abstract] | ||||||
Gross long-term debt | $ 750 | $ 750 | ||||
Stated percentage rate | 6.00% | |||||
Scenario, Forecast [Member] | Accounting Standards Update 2018-02 [Member] | ||||||
New Accounting Standards | ||||||
Retained earnings | $ 40 | |||||
Scenario, Forecast [Member] | Accounting Standards Update 2016-02 [Member] | ||||||
New Accounting Standards | ||||||
Right-of-use assets - operating leases | 623 | |||||
Property, plant and equipment, net | (147) | |||||
Other | 81 | |||||
Retained earnings | 17 | |||||
Scenario, Forecast [Member] | Parent Company [Member] | Accounting Standards Update 2018-02 [Member] | ||||||
New Accounting Standards | ||||||
Tax Cuts and Jobs Act of 2017, reclassification From AOCI to retained earnings, tax effect | 14 | |||||
Scenario, Forecast [Member] | Parent Company [Member] | Accounting Standards Update 2016-02 [Member] | ||||||
New Accounting Standards | ||||||
Right-of-use assets - operating leases | 191 | |||||
Deferred income taxes | (3) | |||||
Property, plant and equipment, net | (147) | |||||
Other | 3 | |||||
Long-term debt | (138) | |||||
Other long-term liabilities | 159 | |||||
Retained earnings | $ 17 | |||||
[1] | As adjusted for the retrospective adoption of ASU 2017-07, which we discuss in Note 2 , and a reclassification to conform to current year presentation, which we discuss in Note 1 |