2.2.0.7 false RECENT INVESTMENT ACTIVITY 010300 - Disclosure - RECENT INVESTMENT ACTIVITY true false false false 1 USD false false USD Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 Shares Standard http://www.xbrl.org/2003/instance shares xbrli 0 $ 2 Notes to Condensed Consolidated Financial Statements 0 sre_NotesToConsolidatedFinancialStatementsAbstract sre false na duration No definition available. false false false false false true false false false false false false 1 false false false false 0 0 false false false xbrli:stringItemType string No definition available. false 3 Recent Investment Activity 1 sre_RecentInvestmentActivityTextBlock sre false na duration No definition available. false false false false false false false false false false false terselabel false 1 false false false false 0 0 NOTE 3. RECENT INVESTMENT ACTIVITYSEMPRA PIPELINES & STORAGEAcquisition of Mexican Pipeline and Natural Gas InfrastructureOn April 30, 2010, Sempra Pipelines & Storage completed an acquisition resulting in the purchase of the Mexican pipeline and natural gas infrastructure assets of El Paso Corporation for $307 million ($292 million, net of cash acquired). The acquisition consists of El Paso Corporation's wholly owned natural gas pipeline and compression assets in the Mexican border state of Sonora and its 50-percent interest in a joint venture with PEMEX, the Mexican state-owned oil company. The joint venture operates two natural gas pipelines and a propane system in northern Mexico. The acquisition expands our scale and geographic footprint in a strong growth region in Mexico. The pipeline assets are backed substantially by long-term contracts with a history of consistent revenue streams, allowing us to expand our natural gas infrastructure business in northern Mexico.The allocation of the purchase price is preliminary and will be completed when we receive final closing information from El Paso Corporation. The following table summarizes the preliminary consideration paid in the acquisition and the recognized amounts of the assets acquired and liabilities assumed at April 30, 2010: <div><table style="border-collapse:collapse;margin-top:20px;"><tr style="height: 17px"><td colspan="2" style="width: 457px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:457px;">(Dollars in millions)</td><td style="width: 19px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:19px;"> </td><td style="width: 64px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:64px;"> </td></tr><tr style="height: 17px"><td colspan="2" style="width: 457px; text-align:left;border-color:#000000;min-width:457px;">Cash consideration (fair value of total consideration)</td><td style="width: 19px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:19px;">$</td><td style="width: 64px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;border-color:#000000;min-width:64px;"> 307</td></tr><tr style="height: 17px"><td colspan="2" style="width: 457px; text-align:left;border-color:#000000;min-width:457px;">Recognized amounts of identifiable assets acquired and liabilities assumed:</td><td style="width: 19px; text-align:left;border-color:#000000;min-width:19px;"> </td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td></tr><tr style="height: 17px"><td style="width: 30px; text-align:left;border-color:#000000;min-width:30px;"> </td><td style="width: 427px; text-align:left;border-color:#000000;min-width:427px;">Cash</td><td style="width: 19px; text-align:left;border-color:#000000;min-width:19px;"> </td><td style="width: 64px; border-color:#000000;min-width:64px;"> 15</td></tr><tr style="height: 17px"><td style="width: 30px; text-align:left;border-color:#000000;min-width:30px;"> </td><td style="width: 427px; text-align:left;border-color:#000000;min-width:427px;">Accounts receivable</td><td style="width: 19px; text-align:left;border-color:#000000;min-width:19px;"> </td><td style="width: 64px; border-color:#000000;min-width:64px;"> 4</td></tr><tr style="height: 17px"><td style="width: 30px; text-align:left;border-color:#000000;min-width:30px;"> </td><td style="width: 427px; text-align:left;border-color:#000000;min-width:427px;">Investment in equity method investee</td><td style="width: 19px; text-align:left;border-color:#000000;min-width:19px;"> </td><td style="width: 64px; border-color:#000000;min-width:64px;"> 256</td></tr><tr style="height: 17px"><td style="width: 30px; text-align:left;border-color:#000000;min-width:30px;"> </td><td style="width: 427px; text-align:left;border-color:#000000;min-width:427px;">Property, plant & equipment</td><td style="width: 19px; text-align:left;border-color:#000000;min-width:19px;"> </td><td style="width: 64px; border-color:#000000;min-width:64px;"> 25</td></tr><tr style="height: 17px"><td style="width: 30px; text-align:left;border-color:#000000;min-width:30px;"> </td><td style="width: 427px; text-align:left;border-color:#000000;min-width:427px;">Other liabilities</td><td style="width: 19px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:19px;"> </td><td style="width: 64px; border-bottom-style:solid;border-bottom-width:1px;border-color:#000000;min-width:64px;"> (11)</td></tr><tr style="height: 17px"><td colspan="2" style="width: 457px; text-align:left;border-color:#000000;min-width:457px;">Total identifiable net assets</td><td style="width: 19px; text-align:left;border-color:#000000;min-width:19px;"> </td><td style="width: 64px; border-color:#000000;min-width:64px;"> 289</td></tr><tr style="height: 18px"><td colspan="2" style="width: 457px; text-align:left;border-color:#000000;min-width:457px;">Goodwill(1)</td><td style="width: 19px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:2px;text-align:left;border-color:#000000;min-width:19px;">$</td><td style="width: 64px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:2px;border-color:#000000;min-width:64px;"> 18</td></tr><tr style="height: 17px"><td style="width: 30px; text-align:left;border-color:#000000;min-width:30px;"> </td><td style="width: 427px; text-align:left;border-color:#000000;min-width:427px;"> </td><td style="width: 19px; text-align:left;border-color:#000000;min-width:19px;"> </td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td></tr><tr style="height: 17px"><td colspan="2" style="width: 457px; text-align:left;border-color:#000000;min-width:457px;">Acquisition-related costs (included in Other Operation and Maintenance expense in </td><td style="width: 19px; text-align:left;border-color:#000000;min-width:19px;"> </td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td></tr><tr style="height: 17px"><td style="width: 30px; text-align:left;border-color:#000000;min-width:30px;"> </td><td style="width: 427px; text-align:left;border-color:#000000;min-width:427px;">the Condensed Consolidated Statements of Operations for the three months </td><td style="width: 19px; text-align:left;border-color:#000000;min-width:19px;"> </td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td></tr><tr style="height: 17px"><td style="width: 30px; border-bottom-style:solid;border-bottom-width:2px;text-align:left;border-color:#000000;min-width:30px;"> </td><td style="width: 427px; border-bottom-style:solid;border-bottom-width:2px;text-align:left;border-color:#000000;min-width:427px;">and six months ended June 30, 2010)</td><td style="width: 19px; border-bottom-style:solid;border-bottom-width:2px;text-align:left;border-color:#000000;min-width:19px;">$</td><td style="width: 64px; border-bottom-style:solid;border-bottom-width:2px;border-color:#000000;min-width:64px;"> 1</td></tr><tr style="height: 68px"><td style="width: 30px; text-align:left;border-color:#000000;min-width:30px;">(1)</td><td colspan="3" style="width: 510px; text-align:left;border-color:#000000;min-width:510px;">The goodwill, which represents the residual of the consideration paid over the identifiable net assets, is assigned to the Sempra Pipelines & Storage segment and is attributed to the strategic value of the transaction. None of the goodwill recorded is deductible in Mexico for income tax purposes.</td></tr></table></div>Included in our Condensed Consolidated Statements of Operations are revenues and earnings of $1 million and $5 million, respectively, for the period May 1, 2010 to June 30, 2010 related to the assets acquired from El Paso Corporation. Proforma impacts on revenues and earnings for Sempra Energy had the acquisition occurred on January 1, 2009 were immaterial.Natural Gas Storage ProjectsSempra Pipelines & Storage's Sempra Midstream owned 60 percent of Mississippi Hub, LLC (Mississippi Hub) through December 31, 2008 and on January 16, 2009, purchased the remaining 40-percent ownership interest for $94 million in cash. NOTE 3. RECENT INVESTMENT ACTIVITYSEMPRA PIPELINES & STORAGEAcquisition of Mexican Pipeline and Natural Gas InfrastructureOn April 30, 2010, Sempra false false false us-types:textBlockItemType textblock No definition available. 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