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ACQUISTION AND DIVESTITURE ACTIVITY (Tables) | 12 Months Ended
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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 transaction costs.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 |
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 |
The carrying amounts of the major classes of assets and related liabilities classified as held for sale associated with Sempra Renewables and Sempra LNG & Midstream are summarized in the following table.
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 |

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