v3.6.0.2
SCHEDULE I, CONDENSED FINANCIAL INFORMATION OF PARENT (Tables)
 12 Months Ended
Dec. 31, 2016
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,
 
2016
 
2015
 
2014
Interest expense
$
(277
)
 
$
(261
)
 
$
(235
)
Operation and maintenance
(81
)
 
(66
)
 
(78
)
Other (expense) income, net
(2
)
 
7

 
50

Income tax benefit
181

 
150

 
133

Loss before equity in earnings of subsidiaries
(179
)
 
(170
)
 
(130
)
Equity in earnings of subsidiaries, net of income taxes
1,549

 
1,519

 
1,291

Net income/earnings
$
1,370

 
$
1,349

 
$
1,161

Basic earnings per common share
$
5.48

 
$
5.43

 
$
4.72

Weighted-average number of shares outstanding (thousands)
250,217

 
248,249

 
245,891

Diluted earnings per common share
$
5.46

 
$
5.37

 
$
4.63

Weighted-average number of shares outstanding (thousands)
251,155

 
250,923

 
250,655
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
 
Net-of-tax
amount
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

2014:
 

 
 

 
 

Net income
$
1,028

 
$
133

 
$
1,161

Other comprehensive income (loss):
 

 
 

 
 

Foreign currency translation adjustments
(193
)
 
—

 
(193
)
Financial instruments
(106
)
 
42

 
(64
)
Pension and other postretirement benefits
(20
)
 
8

 
(12
)
Total other comprehensive loss
(319
)
 
50

 
(269
)
Comprehensive income
$
709

 
$
183

 
$
892
Schedule Of Condensed Balance Sheets
SEMPRA ENERGY
CONDENSED BALANCE SHEETS
(Dollars in millions)
 
December 31,
2016
 
December 31,
2015
Assets:
 
 
 
Cash and cash equivalents
$
12

 
$
4

Due from affiliates
73

 
62

Other current assets
2

 
4

Total current assets
87

 
70

 
 
 
 
Investments in subsidiaries
17,329

 
15,586

Due from affiliates
—

 
457

Deferred income taxes
2,570

 
2,188

Other assets
592

 
641

Total assets
$
20,578

 
$
18,942

 
 
 
 
Liabilities and shareholders’ equity:
 

 
 

Current portion of long-term debt
$
600

 
$
752

Due to affiliates
359

 
332

Income taxes payable
153

 
42

Other current liabilities
374

 
310

Total current liabilities
1,486

 
1,436

 
 
 
 
Long-term debt
5,100

 
5,195

Due to affiliates
517

 
—

Other long-term liabilities
524

 
502

Shareholders’ equity
12,951

 
11,809

Total liabilities and shareholders’ equity
$
20,578

 
$
18,942
Schedule of Condensed Statements of Cash Flows
SEMPRA ENERGY
CONDENSED STATEMENTS OF CASH FLOWS
(Dollars in millions)
 
Years ended December 31,
 
2016
 
2015
 
2014
 
 
 
 
 
 
Net cash used in operating activities
$
(178
)
 
$
(255
)
 
$
(260
)
 
 
 
 
 
 
Dividends received from subsidiaries
175

 
350

 
300

Expenditures for property, plant and equipment
(5
)
 
(43
)
 
(15
)
Purchase of trust assets
—

 
(5
)
 
(4
)
Decrease (increase) in loans to affiliates, net
457

 
(457
)
 
627

Cash provided by (used in) investing activities
627

 
(155
)
 
908

 
 
 
 
 
 
Common stock dividends paid
(686
)
 
(628
)
 
(598
)
Issuances of common stock
51

 
52

 
56

Repurchases of common stock
(56
)
 
(74
)
 
(38
)
Issuances of long-term debt
499

 
1,248

 
499

Payments on long-term debt
(750
)
 
—

 
(800
)
Increase (decrease) in loans from affiliates, net
504

 
(230
)
 
234

Tax benefit related to share-based compensation
—

 
52

 
—

Other
(3
)
 
(9
)
 
(4
)
Cash (used in) provided by financing activities
(441
)
 
411

 
(651
)
 
 
 
 
 
 
Increase (decrease) in cash and cash equivalents
8

 
1

 
(3
)
Cash and cash equivalents, January 1
4

 
3

 
6

Cash and cash equivalents, December 31
$
12

 
$
4

 
$
3

 
 
 
 
 
 
SUPPLEMENTAL DISCLOSURE OF NONCASH FINANCING ACTIVITIES
 

 
 

 
 

Financing of build-to-suit property
$
—

 
$
61

 
$
61

Common dividends issued in stock
53

 
55

 
42

Dividends declared but not paid
189

 
174

 
163

See Notes to Condensed Financial Information of Parent.
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,
 
2016
 
2015
SDG&E
 
 
 
First mortgage bonds (collateralized by plant assets):
 
 
 
          Bonds at variable rates (1.151% at December 31, 2016) March 9, 2017
$
140

 
$
140

          1.65% July 1, 2018(1)
161

 
161

          3% August 15, 2021
350

 
350

          1.914% payable 2015 through February 2022
197

 
232

          3.6% September 1, 2023
450

 
450

          2.5% May 15, 2026
500

 
—

          6% June 1, 2026
250

 
250

          5% payable 2015 through December 2027(2)
—

 
105

          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

 
4,349

 
3,989

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)
305

 
315

Capital lease obligations:
 

 
 

          Purchased-power agreements
239

 
243

          Other
1

 
1

 
545

 
559

 
4,894

 
4,548

Current portion of long-term debt
(191
)
 
(50
)
Unamortized discount on long-term debt
(11
)
 
(10
)
Unamortized debt issuance costs
(34
)
 
(33
)
Total SDG&E
4,658

 
4,455

 
 
 
 
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

 
—

          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

 
2,500

Other long-term debt (uncollateralized):
 

 
 

          1.875% Notes payable 2016 through May 2026(1)
4

 
8

          5.67% Notes January 18, 2028
5

 
5

Capital lease obligations
—

 
1

 
9

 
14

 
3,009

 
2,514

Current portion of long-term debt
—

 
(9
)
Unamortized discount on long-term debt
(7
)
 
(7
)
Unamortized debt issuance costs
(20
)
 
(17
)
Total SoCalGas
2,982

 
2,481

LONG-TERM DEBT (CONTINUED)
(Dollars in millions)
 
 
December 31,
 
 
2016
 
2015
Sempra Energy
 
 
 
 
Other long-term debt (uncollateralized):
 
 
 
 
6.5% Notes June 1, 2016, including $300 at variable rates after fixed-to-floating
 
 
 
 
    rate swaps effective 2011 (4.77% at December 31, 2015)
 
$
—

 
$
750

2.3% Notes April 1, 2017
 
600

 
600

6.15% Notes June 15, 2018
 
500

 
500

9.8% Notes February 15, 2019
 
500

 
500

1.625% Notes October 7, 2019
 
500

 
—

2.4% Notes March 15, 2020
 
500

 
500

2.85% Notes November 15, 2020
 
400

 
400

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

6% Notes October 15, 2039
 
750

 
750

Market value adjustments for interest rate swaps, net
 
(3
)
 
(2
)
Build-to-suit lease(3)
 
137

 
136

Sempra South American Utilities
 
 

 
 

Other long-term debt (uncollateralized):
 
 

 
 

Chilquinta Energía – 4.25% Series B Bonds October 30, 2030
 
185

 
170

Luz del Sur
 
 

 
 

Bank loans 5.05% to 6.7% payable 2016 through December 2018
 
75

 
136

Corporate bonds at 4.75% to 8.75% payable 2014 through September 2029
 
346

 
292

Other bonds at 3.77% to 4.61% payable 2020 through May 2022
 
7

 
8

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)
 
63

 
75

6.3% Notes February 2, 2023 (4.12% after cross-currency swap)
 
189

 
227

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


 


payable 2016 through December 2026, collateralized by plant assets
 
352

 
—

Bank loans including $254 at a weighted-average fixed rate of 6.67%, $187 at variable rates
 
 
 
 
(weighted-average rate of 6.29% after floating-to-fixed rate swaps effective 2014) and $40 at variable
 
 
 
 
rates (3.99% at December 31, 2016), payable 2016 through March 2032, collateralized by plant assets
 
481

 
—

Sempra Renewables
 
 

 
 

Other long-term debt (collateralized by project assets):
 
 

 
 

Loan at variable rates (2.625% at December 31, 2016) payable 2012 through December 2028
 
 

 
 

except for $64 at 3.668% after floating-to-fixed rate swaps effective June 2012(1)
 
84

 
91

Sempra LNG & Midstream
 
 

 
 

First mortgage bonds (Mobile Gas, collateralized by plant assets):
 
 

 
 

4.14% September 30, 2021(2)
 
—

 
20

5% September 30, 2031(2)
 
—

 
42

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

 
 

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

 
19

8.45% Notes payable 2012 through December 2017, collateralized by parent guarantee
 
6

 
11

3.1% Notes December 30, 2018, collateralized by plant assets(1)(2)
 
—

 
5

 
 
7,548

 
7,086

Current portion of long-term debt
 
(722
)
 
(848
)
Unamortized discount on long-term debt
 
(10
)
 
(10
)
Unamortized premium on long-term debt
 
4

 
5

Unamortized debt issuance costs
 
(31
)
 
(35
)
Total other Sempra Energy
 
6,789

 
6,198

Total Sempra Energy Consolidated
 
$
14,429

 
$
13,134

(1)
Callable long-term debt not subject to make-whole provisions.
(2)
Early redemption or deconsolidated in 2016.
(3)
We discuss this lease in Note 15.
LONG-TERM DEBT
(Dollars in millions)
 
December 31, 2016
 
December 31, 2015
 
 
 
 
6.5% Notes June 1, 2016, including $300 at variable rates after
fixed-to-floating rate swaps effective January 2011 (4.77% at December 31, 2015)
$
—

 
$
750

2.3% Notes April 1, 2017
600

 
600

6.15% Notes June 15, 2018
500

 
500

9.8% Notes February 15, 2019
500

 
500

1.625% Notes October 7, 2019
500

 
—

2.4% Notes March 15, 2020
500

 
500

2.85% Notes November 15, 2020
400

 
400

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

6% Notes October 15, 2039
750

 
750

Market value adjustments for interest rate swaps, net
(3
)
 
(2
)
Build-to-suit lease
137

 
136

 
5,734

 
5,984

Current portion of long-term debt
(600
)
 
(752
)
Unamortized discount on long-term debt
(10
)
 
(10
)
Unamortized debt issuance costs
(24
)
 
(27
)
Total long-term debt
$
5,100

 
$
5,195