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SCHEDULE I, CONDENSED FINANCIAL INFORMATION OF PARENT (Tables)
 12 Months Ended
Dec. 31, 2017
Condensed Financial Information of Parent Company Only 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,
 
2017
 
2016
 
2015
Interest expense
$
(293
)
 
$
(277
)
 
$
(261
)
Operation and maintenance
(87
)
 
(81
)
 
(66
)
Other income (expense), net
107

 
(2
)
 
7

Income tax benefit
33

 
181

 
150

Loss before equity in earnings of subsidiaries
(240
)
 
(179
)
 
(170
)
Equity in earnings of subsidiaries, net of income taxes
496

 
1,549

 
1,519

Net income/earnings
$
256

 
$
1,370

 
$
1,349

Basic earnings per common share
$
1.02

 
$
5.48

 
$
5.43

Weighted-average number of shares outstanding (thousands)
251,545

 
250,217

 
248,249

Diluted earnings per common share
$
1.01

 
$
5.46

 
$
5.37

Weighted-average number of shares outstanding (thousands)
252,300

 
251,155

 
250,923
Schedule Of Condensed Statements Of Comprehensive Income
SEMPRA ENERGY
CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
(Dollars in millions)
 
Years ended December 31,
 
Pretax
amount
 
Income tax
benefit (expense)
 
Net-of-tax
amount
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

2015:
 

 
 

 
 

Net income
$
1,199

 
$
150

 
$
1,349

Other comprehensive income (loss):
 

 
 

 
 

Foreign currency translation adjustments
(260
)
 
—

 
(260
)
Financial instruments
(80
)
 
33

 
(47
)
Pension and other postretirement benefits
(3
)
 
1

 
(2
)
Total other comprehensive loss
(343
)
 
34

 
(309
)
Comprehensive income
$
856

 
$
184

 
$
1,040
Schedule Of Condensed Balance Sheets
SEMPRA ENERGY
CONDENSED BALANCE SHEETS
(Dollars in millions)
 
December 31,
2017
 
December 31,
2016
Assets:
 
 
 
Cash and cash equivalents
$
104

 
$
12

Due from affiliates
83

 
73

Income taxes receivable
272

 
—

Other current assets
6

 
2

Total current assets
465

 
87

 
 
 
 
Investments in subsidiaries
17,924

 
17,329

Due from affiliates
2

 
—

Deferred income taxes
1,802

 
2,570

Other assets
656

 
592

Total assets
$
20,849

 
$
20,578

 
 
 
 
Liabilities and shareholders’ equity:
 

 
 

Current portion of long-term debt
$
500

 
$
600

Due to affiliates
280

 
359

Income taxes payable
—

 
153

Other current liabilities
396

 
374

Total current liabilities
1,176

 
1,486

 
 
 
 
Long-term debt
6,198

 
5,100

Due to affiliates
300

 
517

Other long-term liabilities
505

 
524

 
 
 
 
Commitments and contingencies (Note 4)
 
 
 
 
 
 
 
Shareholders’ equity
12,670

 
12,951

Total liabilities and shareholders’ equity
$
20,849

 
$
20,578
Schedule of Condensed Statements of Cash Flows
SEMPRA ENERGY
CONDENSED STATEMENTS OF CASH FLOWS
(Dollars in millions)
 
Years ended December 31,
 
2017
 
2016(1)
 
2015(1)
 
 
 
 
 
 
Net cash provided by (used in) operating activities
$
89

 
$
(3
)
 
$
95

 
 
 
 
 
 
Expenditures for property, plant and equipment
(11
)
 
(5
)
 
(43
)
Purchase of trust assets
—

 
—

 
(5
)
Decrease (increase) in loans to affiliates, net
—

 
457

 
(457
)
Expenditures for Merger-related transaction costs
(12
)
 
—

 
—

Net cash (used in) provided by investing activities
(23
)
 
452

 
(505
)
 
 
 
 
 
 
Common stock dividends paid
(755
)
 
(686
)
 
(628
)
Issuances of common stock
47

 
51

 
52

Repurchases of common stock
(15
)
 
(56
)
 
(74
)
Issuances of long-term debt
1,595

 
499

 
1,248

Payments on long-term debt
(600
)
 
(750
)
 
—

(Decrease) increase in loans from affiliates, net
(239
)
 
504

 
(230
)
Tax benefit related to share-based compensation
—

 
—

 
52

Other
(7
)
 
(3
)
 
(9
)
Net cash provided by (used in) financing activities
26

 
(441
)
 
411

 
 
 
 
 
 
Increase in cash and cash equivalents
92

 
8

 
1

Cash and cash equivalents, January 1
12

 
4

 
3

Cash and cash equivalents, December 31
$
104

 
$
12

 
$
4

 
 
 
 
 
 
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES
 

 
 

 
 

Accrued Merger-related transaction costs
$
31

 
$
—

 
$
—

Financing of build-to-suit property
—

 
—

 
61

Common dividends issued in stock
53

 
53

 
55

Dividends declared but not paid
207

 
189

 
174

(1) 
As adjusted for the retrospective adoption of ASU 2016-15, which we discuss in Note 2.
Schedule of New Accounting Pronouncements and Changes in Accounting Principles
In 2018, we expect the adoption of ASU 2017-07 to have the following impact on our Consolidated Statements of Operations for the years ended December 31, 2017 and 2016:
EXPECTED IMPACT FROM ADOPTION OF ASU 2017-07
(Dollars in millions)
 
Years ended December 31,
 
2017
 
2016
 
As reported
Recast
 
As reported
Recast
Sempra Energy Consolidated Statements of Operations:
 
 
 
 
 
Operation and maintenance
$
3,117

$
3,096

 
$
2,970

$
2,976

Other income, net
254

233

 
132

138

SDG&E Consolidated Statements of Operations:
 
 
 
 
 
Operation and maintenance
$
1,020

$
1,024

 
$
1,048

$
1,062

Operating income
713

709

 
990

976

Other income, net
66

70

 
50

64

SoCalGas Statements of Operations:
 
 
 
 
 
Operation and maintenance
$
1,479

$
1,474

 
$
1,385

$
1,391

Operating income
622

627

 
557

551

Other income, net
36

31

 
32

38

The standard must be adopted retrospectively. We early adopted ASU 2016-15 in the fourth quarter of 2017. Upon adoption of ASU 2016-15, our Condensed Statements of Cash Flows for the years ended December 31, 2016 and 2015 were impacted as follows:
IMPACT FROM ADOPTION OF ASU 2016-15
(Dollars in millions)
 
Years ended December 31,
 
2016
 
2015
 
As previously reported
 
Effect of adoption
 
As adjusted
 
As previously reported
 
Effect of adoption
 
As adjusted
Sempra Energy Condensed Statements of Cash Flows:
 
Cash flows from operating activities:
 
 
 
 
 
 
 
 
 
 
 
Net cash (used in) provided by operating activities
$
(178
)
 
$
175

 
$
(3
)
 
$
(255
)
 
$
350

 
$
95

 
 
 
 
 
 
 
 
 
 
 
 
Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
 
 
Dividends received from subsidiaries(1)
175

 
(175
)
 
—

 
350

 
(350
)
 
—

Net cash provided by (used in) investing activities
627

 
(175
)
 
452

 
(155
)
 
(350
)
 
(505
)
(1) 
Prior to adoption of ASU 2016-15, because of its nature as a holding company, Sempra Energy Parent classified dividends received from subsidiaries as an investing cash flow.
In 2018, we expect the adoption of ASU 2017-07 to have the following impact on our Condensed Statements of Operations for the years ended December 31, 2017 and 2016:
EXPECTED IMPACT FROM ADOPTION OF ASU 2017-07
(Dollars in millions)
 
Years ended December 31,
 
2017
 
2016
 
As reported
Recast
 
As reported
Recast
Sempra Energy Condensed Statements of Operations:
 
 
 
 
 
Operation and maintenance
$
(87
)
$
(80
)
 
$
(81
)
$
(76
)
Other income (expense), net
107

100

 
(2
)
(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,
 
2017
 
2016
SDG&E
 
 
 
First mortgage bonds (collateralized by plant assets):
 
 
 
Bonds at variable rates (1.151% at December 31, 2016) March 9, 2017
$
—

 
$
140

1.65% July 1, 2018(1)
161

 
161

3% August 15, 2021
350

 
350

1.914% payable 2015 through February 2022
161

 
197

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

 
—

 
4,573

 
4,349

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

 
305

Capital lease obligations:
 

 
 

Purchased-power contracts
731

 
239

Other
1

 
1

 
1,027

 
545

 
5,600

 
4,894

Current portion of long-term debt
(220
)
 
(191
)
Unamortized discount on long-term debt
(11
)
 
(11
)
Unamortized debt issuance costs
(34
)
 
(34
)
Total SDG&E
5,335

 
4,658

 
 
 
 
SoCalGas
 

 
 

First mortgage bonds (collateralized by plant assets):
 

 
 

5.45% April 15, 2018
250

 
250

1.55% June 15, 2018
250

 
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

 
3,000

 
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
1

 
—

 
10

 
9

 
3,010

 
3,009

Current portion of long-term debt
(501
)
 
—

Unamortized discount on long-term debt
(7
)
 
(7
)
Unamortized debt issuance costs
(17
)
 
(20
)
Total SoCalGas
2,485

 
2,982

LONG-TERM DEBT (CONTINUED)
(Dollars in millions)
 
December 31,
 
2017
 
2016
Sempra Energy
 
 
 
Other long-term debt (uncollateralized):
 
 
 
2.3% Notes April 1, 2017
$
—

 
$
600

6.15% Notes June 15, 2018
500

 
500

9.8% Notes February 15, 2019
500

 
500

1.625% Notes October 7, 2019
500

 
500

2.4% Notes March 15, 2020
500

 
500

2.85% Notes November 15, 2020
400

 
400

Notes at variable rates (2.038% at December 31, 2017) March 15, 2021
850

 
—

2.875% Notes October 1, 2022
500

 
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

 
—

6% Notes October 15, 2039
750

 
750

Fair value adjustments for interest rate swaps, net
(1
)
 
(3
)
Build-to-suit lease(2)
138

 
137

Sempra South American Utilities
 

 
 

Other long-term debt (uncollateralized):
 

 
 

Chilquinta Energía – 4.25% Series B Bonds October 30, 2030
205

 
185

Luz del Sur
 

 
 

Bank loans 5.18% to 6.7% payable 2016 through December 2018
53

 
75

Corporate bonds at 4.75% to 8.75% payable 2014 through September 2029
415

 
346

Other bonds at 3.77% to 4.61% payable 2020 through May 2022
6

 
7

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

 
63

6.3% Notes February 2, 2023 (4.12% after cross-currency swap)
198

 
189

Notes at variable rates (4.63% after floating-to-fixed rate swaps effective 2014),


 


payable 2016 through December 2026, collateralized by plant assets
314

 
352

3.75% Notes January 14, 2028
300

 
—

Bank loans including $251 at a weighted-average fixed rate of 6.67%, $178 at variable rates
 
 
 
(weighted-average rate of 6.29% after floating-to-fixed rate swaps effective 2014) and $39 at variable
 
 
 
rates (4.62% at December 31, 2017), payable 2016 through March 2032, collateralized by plant assets
468

 
481

4.875% Notes January 14, 2048
540

 
—

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

 
84

Sempra LNG & Midstream
 

 
 

Other long-term debt (uncollateralized unless otherwise noted):
 

 
 

Notes at 2.87% to 3.51% October 1, 2026(1)
20

 
20

8.45% Notes payable 2012 through December 2017, collateralized by parent guarantee
—

 
6

 
9,405

 
7,548

Current portion of long-term debt
(706
)
 
(722
)
Unamortized discount on long-term debt
(13
)
 
(10
)
Unamortized premium on long-term debt
4

 
4

Unamortized debt issuance costs
(65
)
 
(31
)
Total other Sempra Energy
8,625

 
6,789

Total Sempra Energy Consolidated
$
16,445

 
$
14,429

(1) 
Callable long-term debt not subject to make-whole provisions.
(2) 
We discuss this lease in Note 15.
On January 12, 2018, we issued the following debt securities and received net proceeds of $4.9 billion (after deducting the underwriting discount, but before deducting expenses):
NOTES ISSUED IN LONG-TERM DEBT OFFERING
(Dollars in millions)
Title of each class of securities
Aggregate principal amount
 
Maturity
 
Interest payments
Floating Rate(1) Notes due 2019
$
500

 
July 15, 2019
 
Quarterly
Floating Rate(2) Notes due 2021
700

 
January 15, 2021
 
Quarterly
2.400% Senior Notes due 2020
500

 
February 1, 2020
 
Semi-annually
2.900% Senior Notes due 2023
500

 
February 1, 2023
 
Semi-annually
3.400% Senior Notes due 2028
1,000

 
February 1, 2028
 
Semi-annually
3.800% Senior Notes due 2038
1,000

 
February 1, 2038
 
Semi-annually
4.000% Senior 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 basis points.
(2) 
Bears interest at a rate per annum equal to the 3-month LIBOR rate, plus 50 basis points.
The following table shows the detail and maturities of long-term debt outstanding:
LONG-TERM DEBT
(Dollars in millions)
 
December 31,
 
2017
 
2016
 
 
 
 
2.3% Notes April 1, 2017
$
—

 
$
600

6.15% Notes June 15, 2018
500

 
500

9.8% Notes February 15, 2019
500

 
500

1.625% Notes October 7, 2019
500

 
500

2.4% Notes March 15, 2020
500

 
500

2.85% Notes November 15, 2020
400

 
400

Notes at variable rates (2.038% at December 31, 2017) March 15, 2021
850

 
—

2.875% Notes October 1, 2022
500

 
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

 
—

6% Notes October 15, 2039
750

 
750

Fair value adjustments for interest rate swaps, net
(1
)
 
(3
)
Build-to-suit lease
138

 
137

 
6,737

 
5,734

Current portion of long-term debt
(500
)
 
(600
)
Unamortized discount on long-term debt
(13
)
 
(10
)
Unamortized debt issuance costs
(26
)
 
(24
)
Total long-term debt
$
6,198

 
$
5,100