v3.6.0.2

INVESTMENTS IN UNCONSOLIDATED ENTITIES (Tables) | 12 Months Ended
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Dec. 31, 2016
Investments [Abstract] |
Schedule Of Equity Method And Other Investments | We provide the carrying value of our investments and earnings (losses) on these investments below:
EQUITY METHOD AND OTHER INVESTMENT BALANCES
(Dollars in millions)
| December 31,
| 2016 |  | 2015
Sempra South American Utilities: |  |  |
Eletrans(1) | $ | (8 | ) |  | $ | (12 | )
Sempra Mexico: |  |  |  |  |
Ductos y Energéticos del Norte | 42 |  |  | — |
Energía Sierra Juárez(2) | 38 |  |  | 30 |
Gasoductos de Chihuahua(3) | — |  |  | 489 |
Infraestructura Marina del Golfo | 100 |  |  | — |
Sempra Renewables: |  |  |  |  |
Wind: |  |  |
Auwahi Wind | 41 |  |  | 44 |
Broken Bow 2 Wind | 35 |  |  | 41 |
Cedar Creek 2 Wind | 75 |  |  | 75 |
Flat Ridge 2 Wind | 271 |  |  | 275 |
Fowler Ridge 2 Wind | 43 |  |  | 46 |
Mehoopany Wind | 92 |  |  | 92 |
Solar: |  |  |
California solar partnership | 113 |  |  | 120 |
Copper Mountain Solar 2 | 33 |  |  | 32 |
Copper Mountain Solar 3 | 42 |  |  | 44 |
Mesquite Solar 1 | 86 |  |  | 86 |
Other | 13 |  |  | — |
Sempra LNG & Midstream: |  |  |  |  |
Cameron LNG JV(4) | 997 |  |  | 983 |
Rockies Express Pipeline LLC(5) | — |  |  | 477 |
Parent and other: |  |  |  |  |
RBS Sempra Commodities LLP | 67 |  |  | 67 |
Total equity method investments | 2,080 |  |  | 2,889 |
Other | 17 |  |  | 16 |
Total | $ | 2,097 |  |  | $ | 2,905 |
(1) | Includes losses on forward exchange contracts entered into to manage the foreign currency exchange rate risk of the Chilean Unidad de Fomento (CLF) relative to the U.S. dollar, related to certain construction commitments that are denominated in CLF. The contracts settle based on anticipated payments to vendors, generally monthly, ending in July 2018.
(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.
(3) | The carrying value of our equity method investment was $65 million higher than the underlying equity in the net assets of the investee due to equity method goodwill at December 31, 2015.
(4) | The carrying value of our equity method investment is $190 million and $143 million higher than the underlying equity in the net assets of the investee at December 31, 2016 and 2015, respectively, primarily due to guarantees, which we discuss below, and interest capitalized on the investment, as the joint venture has not commenced its planned principal operations.
(5) | The carrying value of our equity method investment at December 31, 2015 was $357 million lower than the underlying equity in the net assets of the investee due to an impairment charge recorded in 2012.
EARNINGS (LOSSES) FROM EQUITY METHOD INVESTMENTS
(Dollars in millions)
| Years ended December 31,
| 2016 |  | 2015 |  | 2014
Earnings (losses) recorded before income tax: |  |  |  |  |
Sempra Renewables: |  |  |  |  |
Wind: |  |  |  |  |
Auwahi Wind | $ | 4 |  |  | $ | 4 |  |  | $ | 4 |
Broken Bow 2 Wind | (2 | ) |  | (2 | ) |  | — |
Cedar Creek 2 Wind | (2 | ) |  | (6 | ) |  | (3 | )
Flat Ridge 2 Wind | (7 | ) |  | (12 | ) |  | (7 | )
Fowler Ridge 2 Wind | 4 |  |  | 4 |  |  | 2 |
Mehoopany Wind | — |  |  | (1 | ) |  | (1 | )
Solar: |  |  |  |  |
California solar partnership | 7 |  |  | 6 |  |  | 6 |
Copper Mountain Solar 2 | 6 |  |  | 7 |  |  | 3 |
Copper Mountain Solar 3 | 8 |  |  | 8 |  |  | 2 |
Mesquite Solar 1 | 17 |  |  | 16 |  |  | 14 |
Other | (1 | ) |  | — |  |  | — |
Sempra LNG & Midstream: |  |  |  |  |  |  |  |
Cameron LNG JV | (2 | ) |  | 5 |  |  | 2 |
Rockies Express Pipeline LLC | (26 | ) |  | 79 |  |  | 60 |
Parent and other: |  |  |  |  |  |  |  |
RBS Sempra Commodities LLP | — |  |  | (4 | ) |  | (2 | )
Other | — |  |  | — |  |  | 1 |
| $ | 6 |  |  | $ | 104 |  |  | $ | 81 |
Earnings (losses) recorded net of income tax(1): |  |  |  |  |  |  |  |
Sempra South American Utilities: |  |  |  |  |  |  |  |
Eletrans | $ | 3 |  |  | $ | (4 | ) |  | $ | (4 | )
Sempra Mexico: |  |  |  |  |  |  |  |
Ductos y Energéticos del Norte | 5 |  |  | — |  |  | — |
Energía Sierra Juárez | 6 |  |  | 6 |  |  | 3 |
Gasoductos de Chihuahua | 64 |  |  | 83 |  |  | 39 |
| $ | 78 |  |  | $ | 85 |  |  | $ | 38 |
(1) | As the earnings (losses) from these investments are recorded net of income tax, they are presented below the income tax expense line, so as not to impact our effective income tax rate.
Schedule of Summarized Financial Information | We present summarized financial information below, aggregated for all of our equity method investments for the periods in which we were invested in the entity. The amounts below represent the aggregate financial position and results of operations of 100 percent of each of Sempra Energy’s equity method investments.
SUMMARIZED FINANCIAL INFORMATION
(Dollars in millions)
| Years ended December 31,
| 2016(1) |  | 2015 |  | 2014
Gross revenues | $ | 1,079 |  |  | $ | 1,533 |  |  | $ | 1,296 |
Operating expense | (726 | ) |  | (845 | ) |  | (749 | )
Income from operations | 353 |  |  | 688 |  |  | 547 |
Interest expense | (127 | ) |  | (312 | ) |  | (298 | )
Net income/Earnings(2) | 252 |  |  | 440 |  |  | 291 |
| At December 31,
| 2016(1) |  | 2015
Current assets | $ | 704 |  |  | $ | 750 |
Noncurrent assets | 9,970 |  |  | 15,112 |
Current liabilities | 629 |  |  | 859 |
Noncurrent liabilities | 6,627 |  |  | 7,862 |
(1) | On September 26, 2016, IEnova completed the acquisition of PEMEX’s 50-percent interest in GdC, increasing its ownership percentage to 100 percent, and on May 9, 2016, Sempra LNG & Midstream sold its 25-percent interest in Rockies Express. At December 31, 2016, GdC and Rockies Express are no longer equity method investments.
(2) Except for our investments in South America and Mexico, there was no income tax recorded by the entities, as they are primarily domestic partnerships.

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