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EMPLOYEE BENEFIT PLANS (Tables)
 12 Months Ended
Dec. 31, 2018
Retirement Benefits [Abstract]  
Schedule Of Defined Benefit Plans, Change In Benefit Obligation And Fair Value Of Plan Assets The following three tables provide a reconciliation of the changes in the plans’ projected benefit obligations and the fair value of assets during 2018 and 2017, and a statement of the funded status at December 31, 2018 and 2017:
PROJECTED BENEFIT OBLIGATION, FAIR VALUE OF ASSETS AND FUNDED STATUS
SEMPRA ENERGY CONSOLIDATED
(Dollars in millions)
 
Pension benefits
 
Other postretirement
benefits
 
2018
 
2017
 
2018
 
2017
CHANGE IN PROJECTED BENEFIT OBLIGATION
 
 
 
 
 
 
 
Net obligation at January 1
$
3,857

 
$
3,679

 
$
963

 
$
922

Service cost
124

 
117

 
21

 
21

Interest cost
141

 
151

 
36

 
39

Contributions from plan participants
—

 
—

 
23

 
20

Actuarial (gain) loss
(269
)
 
286

 
(123
)
 
6

Plan amendments
12

 
1

 
—

 
—

Benefit payments
(115
)
 
(182
)
 
(74
)
 
(63
)
Special termination benefits
—

 
—

 
5

 
18

Acquisition
—

 
—

 
21

 
—

Curtailments
—

 
(1
)
 
—

 
—

Settlements
(394
)
 
(194
)
 
—

 
—

Net obligation at December 31
3,356

 
3,857

 
872

 
963

 
 
 
 
 
 
 
 
CHANGE IN PLAN ASSETS
 

 
 

 
 

 
 

Fair value of plan assets at January 1
2,659

 
2,459

 
1,209

 
1,057

Actual return on plan assets
(180
)
 
421

 
(56
)
 
185

Employer contributions
190

 
155

 
6

 
10

Contributions from plan participants
—

 
—

 
23

 
20

Benefit payments
(115
)
 
(182
)
 
(74
)
 
(63
)
Settlements
(394
)
 
(194
)
 
—

 
—

Fair value of plan assets at December 31
2,160

 
2,659

 
1,108

 
1,209

Funded status at December 31
$
(1,196
)
 
$
(1,198
)
 
$
236

 
$
246

Net recorded (liability) asset at December 31
$
(1,196
)
 
$
(1,198
)
 
$
236

 
$
246

PROJECTED BENEFIT OBLIGATION, FAIR VALUE OF ASSETS AND FUNDED STATUS
SAN DIEGO GAS & ELECTRIC COMPANY
(Dollars in millions)
 
Pension benefits
 
Other postretirement
benefits
 
2018
 
2017
 
2018
 
2017
CHANGE IN PROJECTED BENEFIT OBLIGATION
 
 
 
 
 
 
 
Net obligation at January 1
$
971

 
$
935

 
$
185

 
$
190

Service cost
30

 
29

 
5

 
5

Interest cost
35

 
38

 
7

 
8

Contributions from plan participants
—

 
—

 
8

 
7

Actuarial (gain) loss
(63
)
 
50

 
(17
)
 
(9
)
Plan amendments
8

 
—

 
—

 
—

Benefit payments
(22
)
 
(83
)
 
(21
)
 
(16
)
Special termination benefits
—

 
—

 
3

 
—

Settlements
(145
)
 
—

 
—

 
—

Transfer of liability from other plans
—

 
2

 
—

 
—

Net obligation at December 31
814

 
971

 
170

 
185

 
 
 
 
 
 
 
 
CHANGE IN PLAN ASSETS
 

 
 

 
 

 
 

Fair value of plan assets at January 1
776

 
714

 
195

 
169

Actual return on plan assets
(56
)
 
120

 
(12
)
 
30

Employer contributions
47

 
22

 
2

 
5

Contributions from plan participants
—

 
—

 
8

 
7

Benefit payments
(22
)
 
(83
)
 
(21
)
 
(16
)
Settlements
(145
)
 
—

 
—

 
—

Transfer of assets from other plans
—

 
3

 
—

 
—

Fair value of plan assets at December 31
600

 
776

 
172

 
195

Funded status at December 31
$
(214
)
 
$
(195
)
 
$
2

 
$
10

Net recorded (liability) asset at December 31
$
(214
)
 
$
(195
)
 
$
2

 
$
10

PROJECTED BENEFIT OBLIGATION, FAIR VALUE OF ASSETS AND FUNDED STATUS
SOUTHERN CALIFORNIA GAS COMPANY
(Dollars in millions)
 
Pension benefits
 
Other postretirement
benefits
 
2018
 
2017
 
2018
 
2017
CHANGE IN PROJECTED BENEFIT OBLIGATION
 
 
 
 
 
 
 
Net obligation at January 1
$
2,486

 
$
2,343

 
$
737

 
$
691

Service cost
81

 
76

 
15

 
14

Interest cost
92

 
98

 
27

 
29

Contributions from plan participants
—

 
—

 
14

 
13

Actuarial (gain) loss
(215
)
 
216

 
(100
)
 
16

Benefit payments
(65
)
 
(73
)
 
(49
)
 
(44
)
Special termination benefits
—

 
—

 
2

 
18

Settlements
(231
)
 
(175
)
 
—

 
—

Transfer of liability from other plans
—

 
1

 
—

 
—

Net obligation at December 31
2,148

 
2,486

 
646

 
737

 
 
 
 
 
 
 
 
CHANGE IN PLAN ASSETS
 

 
 

 
 

 
 

Fair value of plan assets at January 1
1,694

 
1,579

 
993

 
870

Actual return on plan assets
(117
)
 
269

 
(43
)
 
151

Employer contributions
104

 
93

 
1

 
3

Contributions from plan participants
—

 
—

 
14

 
13

Benefit payments
(65
)
 
(73
)
 
(49
)
 
(44
)
Settlements
(231
)
 
(175
)
 
—

 
—

Transfer of assets from other plans
—

 
1

 
—

 
—

Fair value of plan assets at December 31
1,385

 
1,694

 
916

 
993

Funded status at December 31
$
(763
)
 
$
(792
)
 
$
270

 
$
256

Net recorded (liability) asset at December 31
$
(763
)
 
$
(792
)
 
$
270

 
$
256
Schedule Of Defined Benefit Plans, Amounts Recognized In Balance Sheet The net (liability) asset is included in the following categories on the Consolidated Balance Sheets at December 31:
PENSION AND OTHER POSTRETIREMENT BENEFIT OBLIGATIONS, NET OF PLAN ASSETS
(Dollars in millions)
 
Pension benefits
 
Other postretirement
benefits
 
2018
 
2017
 
2018
 
2017
Sempra Energy Consolidated:
 
 
 
 
 
 
 
Noncurrent assets
$
—

 
$
—

 
$
272

 
$
266

Current liabilities
(65
)
 
(69
)
 
(6
)
 
(1
)
Noncurrent liabilities
(1,131
)
 
(1,129
)
 
(30
)
 
(19
)
Net recorded (liability) asset
$
(1,196
)
 
$
(1,198
)
 
$
236

 
$
246

SDG&E:
 

 
 

 
 

 
 

Noncurrent assets
$
—

 
$
—

 
$
2

 
$
10

Current liabilities
(2
)
 
(13
)
 
—

 
—

Noncurrent liabilities
(212
)
 
(182
)
 
—

 
—

Net recorded (liability) asset
$
(214
)
 
$
(195
)
 
$
2

 
$
10

SoCalGas:
 

 
 

 
 

 
 

Noncurrent assets
$
—

 
$
—

 
$
270

 
$
256

Current liabilities
(3
)
 
(3
)
 
—

 
—

Noncurrent liabilities
(760
)
 
(789
)
 
—

 
—

Net recorded (liability) asset
$
(763
)
 
$
(792
)
 
$
270

 
$
256
Schedule Of Defined Benefit Plans, Amounts In Accumulated Other Comprehensive Income Amounts recorded in AOCI at December 31, net of income tax effects and amounts recorded as regulatory assets, are as follows:
AMOUNTS IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
(Dollars in millions)
 
Pension benefits
 
Other postretirement
benefits
 
2018
 
2017
 
2018
 
2017
Sempra Energy Consolidated:
 
 
 
 
 
 
 
Net actuarial (loss) gain
$
(114
)
 
$
(84
)
 
$
8

 
$
4

Prior service cost
(12
)
 
(4
)
 
—

 
—

Total
$
(126
)
 
$
(88
)
 
$
8

 
$
4

SDG&E:
 

 
 

 
 

 
 

Net actuarial loss
$
(4
)
 
$
(8
)
 
 

 
 

Prior service cost
(6
)
 
—

 
 
 
 
Total
$
(10
)
 
$
(8
)
 
 
 
 
SoCalGas:
 

 
 

 
 

 
 

Net actuarial loss
$
(6
)
 
$
(6
)
 
 

 
 

Prior service cost
(2
)
 
(2
)
 
 

 
 

Total
$
(8
)
 
$
(8
)
 
 

 
 
Schedule Of Defined Benefit Plans, Pension Plans With Benefit Obligations In Excess Of Plan Assets The following table shows the obligations of funded pension plans with benefit obligations in excess of plan assets at December 31:
OBLIGATIONS OF FUNDED PENSION PLANS
(Dollars in millions)
 
2018
 
2017
Sempra Energy Consolidated:
 
 
 
Projected benefit obligation
$
3,130

 
$
3,623

Accumulated benefit obligation
2,894

 
3,334

Fair value of plan assets
2,160

 
2,659

SDG&E:
 
 
 

Projected benefit obligation
$
788

 
$
939

Accumulated benefit obligation
762

 
900

Fair value of plan assets
600

 
776

SoCalGas:
 

 
 

Projected benefit obligation
$
2,123

 
$
2,462

Accumulated benefit obligation
1,919

 
2,220

Fair value of plan assets
1,385

 
1,694

We also have unfunded pension plans at Sempra Energy, SDG&E, SoCalGas, IEnova and Chilquinta Energía. The following table shows the obligations of unfunded pension plans at December 31:
OBLIGATIONS OF UNFUNDED PENSION PLANS
(Dollars in millions)
 
2018
 
2017
Sempra Energy Consolidated:
 
 
 
Projected benefit obligation
$
226

 
$
234

Accumulated benefit obligation
201

 
215

SDG&E:
 
 
 

Projected benefit obligation
$
26

 
$
32

Accumulated benefit obligation
19

 
30

SoCalGas:
 

 
 

Projected benefit obligation
$
25

 
$
24

Accumulated benefit obligation
21

 
21

Sempra Energy, SDG&E and SoCalGas each have a funded other postretirement benefit plan. The following table shows the obligations of funded other postretirement benefit plans with accumulated postretirement benefit obligations in excess of plan assets at December 31:
OBLIGATIONS OF FUNDED OTHER POSTRETIREMENT BENEFIT PLANS
(Dollars in millions)
 
2018
 
2017
Sempra Energy Consolidated:
 
 
 
Accumulated postretirement benefit obligation
$
30

 
$
32

Fair value of plan assets
20

 
21

We also have unfunded other postretirement benefit plans at Sempra Energy and Chilquinta Energía. The following table shows the obligations of unfunded other postretirement benefit plans at December 31:
OBLIGATIONS OF UNFUNDED OTHER POSTRETIREMENT BENEFIT PLANS
(Dollars in millions)
 
2018
 
2017
Sempra Energy Consolidated:
 
 
 
Accumulated postretirement benefit obligation
$
26

 
$
9
Schedule of Net Benefit Costs The following tables provide the components of net periodic benefit cost and pretax amounts recognized in OCI for the years ended December 31:
NET PERIODIC BENEFIT COST AND AMOUNTS RECOGNIZED IN OCI
SEMPRA ENERGY CONSOLIDATED
(Dollars in millions)
 
Pension benefits
 
Other postretirement benefits
 
2018
 
2017
 
2016
 
2018
 
2017
 
2016
NET PERIODIC BENEFIT COST
 
 
 
 
 
 
 
 
 
 
 
Service cost
$
124

 
$
117

 
$
107

 
$
21

 
$
21

 
$
20

Interest cost
141

 
151

 
160

 
36

 
39

 
42

Expected return on assets
(157
)
 
(161
)
 
(166
)
 
(70
)
 
(66
)
 
(69
)
Amortization of:
 

 
 

 
 

 
 
 
 

 
 

Prior service cost
11

 
11

 
11

 
1

 
1

 
—

Actuarial loss (gain)
23

 
36

 
30

 
(6
)
 
(4
)
 
(1
)
Settlement charges
66

 
38

 
16

 
—

 
—

 
—

Special termination benefits
—

 
—

 
—

 
5

 
18

 
26

Net periodic benefit cost
208

 
192

 
158

 
(13
)
 
9

 
18

Regulatory adjustment
(30
)
 
(42
)
 
(57
)
 
17

 
—

 
(11
)
Total expense recognized
178

 
150

 
101

 
4

 
9

 
7

 
 
 
 
 
 
 
 
 
 
 
 
CHANGES IN PLAN ASSETS AND BENEFIT OBLIGATIONS
 

 
 

 
 

 
 

 
 

 
 

RECOGNIZED IN OCI
 

 
 

 
 

 
 

 
 

 
 

Net loss (gain)
56

 
—

 
26

 
(4
)
 
(2
)
 
(2
)
Prior service cost
12

 
1

 
—

 
—

 
—

 
—

Amortization of actuarial loss
(12
)
 
(10
)
 
(10
)
 
—

 
—

 
—

Amortization of prior service cost
(2
)
 
(1
)
 
(1
)
 
—

 
—

 
—

Settlements
(12
)
 
(8
)
 
—

 
—

 
—

 
—

Total recognized in OCI
42

 
(18
)
 
15

 
(4
)
 
(2
)
 
(2
)
   Total recognized in net periodic benefit cost and OCI
$
220

 
$
132

 
$
116

 
$
—

 
$
7

 
$
5


NET PERIODIC BENEFIT COST AND AMOUNTS RECOGNIZED IN OCI
SAN DIEGO GAS & ELECTRIC COMPANY
(Dollars in millions)
 
Pension benefits
 
Other postretirement benefits
 
2018
 
2017
 
2016
 
2018
 
2017
 
2016
NET PERIODIC BENEFIT COST
 
 
 
 
 
 
 
 
 
 
 
Service cost
$
30

 
$
29

 
$
29

 
$
5

 
$
5

 
$
5

Interest cost
35

 
38

 
41

 
7

 
8

 
7

Expected return on assets
(47
)
 
(47
)
 
(49
)
 
(13
)
 
(11
)
 
(12
)
Amortization of:
 

 
 

 
 

 
 

 
 

 
 

Prior service cost
2

 
1

 
1

 
3

 
3

 
3

Actuarial loss (gain)
1

 
9

 
10

 
(3
)
 
—

 
(1
)
Settlement charges
26

 
—

 
16

 
—

 
—

 
—

Special termination benefits
—

 
—

 
—

 
3

 
—

 
14

Net periodic benefit cost
47

 
30

 
48

 
2

 
5

 
16

Regulatory adjustment
(8
)
 
(8
)
 
(45
)
 
—

 
—

 
(14
)
Total expense recognized
39

 
22

 
3

 
2

 
5

 
2

 
 
 
 
 
 
 
 
 
 
 
 
CHANGES IN PLAN ASSETS AND BENEFIT OBLIGATIONS
 

 
 

 
 

 
 

 
 

 
 

RECOGNIZED IN OCI
 

 
 

 
 

 
 

 
 

 
 

Net (gain) loss
(1
)
 
2

 
1

 
—

 
—

 
—

Prior service cost
8

 
—

 
—

 
—

 
—

 
—

Amortization of actuarial loss
(1
)
 
(1
)
 
(1
)
 
—

 
—

 
—

Settlements
(4
)
 
—

 
—

 
—

 
—

 
—

Total recognized in OCI
2

 
1

 
—

 
—

 
—

 
—

   Total recognized in net periodic benefit cost and OCI
$
41

 
$
23

 
$
3

 
$
2

 
$
5

 
$
2

NET PERIODIC BENEFIT COST AND AMOUNTS RECOGNIZED IN OCI
SOUTHERN CALIFORNIA GAS COMPANY
(Dollars in millions)
 
Pension benefits
 
Other postretirement benefits
 
2018
 
2017
 
2016
 
2018
 
2017
 
2016
NET PERIODIC BENEFIT COST
 
 
 
 
 
 
 
 
 
 
 
Service cost
$
81

 
$
76

 
$
67

 
$
15

 
$
14

 
$
14

Interest cost
92

 
98

 
101

 
27

 
29

 
32

Expected return on assets
(98
)
 
(103
)
 
(103
)
 
(56
)
 
(53
)
 
(56
)
Amortization of:
 

 
 

 
 

 
 

 
 

 
 

Prior service cost (credit)
8

 
9

 
9

 
(3
)
 
(3
)
 
(4
)
Actuarial loss (gain)
13

 
19

 
11

 
(2
)
 
(3
)
 
—

Settlement charges
32

 
30

 
—

 
—

 
—

 
—

Special termination benefits
—

 
—

 
—

 
2

 
18

 
11

Net periodic benefit cost
128

 
129

 
85

 
(17
)
 
2

 
(3
)
Regulatory adjustment
(22
)
 
(34
)
 
(12
)
 
17

 
—

 
3

Total expense recognized
106

 
95

 
73

 
—

 
2

 
—

 
 
 
 
 
 
 
 
 
 
 
 
CHANGES IN PLAN ASSETS AND BENEFIT OBLIGATIONS
 

 
 

 
 

 
 

 
 

 
 

RECOGNIZED IN OCI
 

 
 

 
 

 
 

 
 

 
 

Net loss
1

 
—

 
4

 
—

 
—

 
—

Prior service cost
—

 
—

 
2

 
—

 
—

 
—

Amortization of prior service cost
(1
)
 
(1
)
 
—

 
—

 
—

 
—

Total recognized in OCI
—

 
(1
)
 
6

 
—

 
—

 
—

   Total recognized in net periodic benefit cost and OCI
$
106

 
$
94

 
$
79

 
$
—

 
$
2

 
$
—
Schedule of Assumptions Used The significant assumptions affecting benefit obligation and net periodic benefit cost are as follows:
WEIGHTED-AVERAGE ASSUMPTIONS USED TO DETERMINE BENEFIT OBLIGATION
AT DECEMBER 31
 
 
 
 
Pension benefits
 
Other postretirement benefits
 
2018
 
2017
 
2018
 
2017
Sempra Energy Consolidated:
 
 
 
 
 
 
 
Discount rate
4.30
%
 
3.65
%
 
4.30
%
 
3.70
%
Interest crediting rate(1)(2)
3.36

 
2.80

 
3.36

 
2.80

Rate of compensation increase
2.00-10.00

 
2.00-10.00

 
2.00-10.00

 
2.00-10.00

SDG&E:
 
 
 
 
 
 
 
Discount rate
4.29
%
 
3.64
%
 
4.30
%
 
3.65
%
Interest crediting rate(1)(2)
3.36

 
2.80

 
3.36

 
2.80

Rate of compensation increase
2.00-10.00

 
2.00-10.00

 
2.00-10.00

 
2.00-10.00

SoCalGas:
 
 
 
 
 
 
 
Discount rate
4.30
%
 
3.65
%
 
4.30
%
 
3.70
%
Interest crediting rate(1)(2)
3.36

 
2.80

 
3.36

 
2.80

Rate of compensation increase
2.00-10.00

 
2.00-10.00

 
2.00-10.00

 
2.00-10.00

(1) Interest crediting rate for pension benefits applies only to funded cash balance plans.
(2) Interest crediting rate for other postretirement benefits applies only to interest bearing health retirement accounts at SDG&E and SoCalGas.
WEIGHTED-AVERAGE ASSUMPTIONS USED TO DETERMINE NET PERIODIC BENEFIT COST
YEARS ENDED DECEMBER 31
 
 
 
 
Pension benefits
 
Other postretirement benefits
 
2018
 
2017
 
2016
 
2018
 
2017
 
2016
Sempra Energy Consolidated:
 
 
 
 
 
 
 
 
 
 
 
Discount rate
3.65
%
 
4.08
%
 
4.46
%
 
3.70
%
 
4.19
%
 
4.49
%
Expected return on plan assets
7.00

 
7.00

 
7.00

 
6.49

 
6.47

 
6.98

Interest crediting rate(1)(2)
2.80

 
2.86

 
3.03

 
2.80

 
2.86

 
3.03

Rate of compensation increase
2.00-10.00

 
2.00-10.00

 
2.00-10.00

 
2.00-10.00

 
2.00-10.00

 
2.00-10.00

SDG&E:
 
 
 
 
 
 
 
 
 
 
 
Discount rate
3.64
%
 
4.08
%
 
4.35
%
 
3.65
%
 
4.15
%
 
4.50
%
Expected return on plan assets
7.00

 
7.00

 
7.00

 
6.94

 
6.91

 
6.90

Interest crediting rate(1)(2)
2.80

 
2.86

 
3.03

 
2.80

 
2.86

 
3.03

Rate of compensation increase
2.00-10.00

 
2.00-10.00

 
2.00-10.00

 
2.00-10.00

 
2.00-10.00

 
2.00-10.00

SoCalGas:
 
 
 
 
 
 
 
 
 
 
 
Discount rate
3.65
%
 
4.10
%
 
4.50
%
 
3.70
%
 
4.20
%
 
4.50
%
Expected return on plan assets
7.00

 
7.00

 
7.00

 
6.38

 
6.37

 
7.00

Interest crediting rate(1)(2)
2.80

 
2.86

 
3.03

 
2.80

 
2.86

 
3.03

Rate of compensation increase
2.00-10.00

 
2.00-10.00

 
2.00-10.00

 
2.00-10.00

 
2.00-10.00

 
2.00-10.00

(1) Interest crediting rate for pension benefits applies only to funded cash balance plans.
(2) Interest crediting rate for other postretirement benefits applies only to interest bearing health retirement accounts at SDG&E and SoCalGas.Following are the health care cost trend rates applicable to our postretirement benefit plans:
ASSUMED HEALTH CARE COST TREND RATES
AT DECEMBER 31
 
 
 
 
 
 
 
 
 
 
 
 
Other postretirement benefit plans
 
Pre-65 retirees
 
Retirees aged 65 years and older
 
2018
 
2017
 
2016
 
2018
 
2017
 
2016
Health care cost trend rate assumed for next year
6.50
%
 
7.00
%
 
8.00
%
 
4.75
%
 
5.00
%
 
5.50
%
Rate to which the cost trend rate is assumed to
    decline (the ultimate trend)
4.75
%
 
5.00
%
 
5.00
%
 
4.50
%
 
4.50
%
 
4.50
%
Year the rate reaches the ultimate trend
2025

 
2022

 
2022

 
2022

 
2022

 
2022
Schedule of Health Care Cost Trend Rates Assumed health care cost trend rates have a significant effect on the amounts that we report for the health care plan costs. Following are the health care cost trend rates applicable to our postretirement benefit plans:
ASSUMED HEALTH CARE COST TREND RATES
AT DECEMBER 31
 
 
 
 
 
 
 
 
 
 
 
 
Other postretirement benefit plans
 
Pre-65 retirees
 
Retirees aged 65 years and older
 
2018
 
2017
 
2016
 
2018
 
2017
 
2016
Health care cost trend rate assumed for next year
6.50
%
 
7.00
%
 
8.00
%
 
4.75
%
 
5.00
%
 
5.50
%
Rate to which the cost trend rate is assumed to
    decline (the ultimate trend)
4.75
%
 
5.00
%
 
5.00
%
 
4.50
%
 
4.50
%
 
4.50
%
Year the rate reaches the ultimate trend
2025

 
2022

 
2022

 
2022

 
2022

 
2022
Schedule Of Defined Benefit Plans, Fair Value Of Plan Assets By Level In Fair Value Hierarchy The fair values of our pension plan assets by asset category are as follows:
FAIR VALUE MEASUREMENTS – INVESTMENT ASSETS OF PENSION PLANS
(Dollars in millions)
 
Fair value at December 31, 2018
 
Level 1
 
Level 2
 
Total
Sempra Energy Consolidated:
 
 
 
 
 
Equity securities:
 
 
 
 
 
Domestic
$
727

 
$
—

 
$
727

International
437

 
—

 
437

Registered investment companies
74

 
—

 
74

Fixed income securities:
 

 
 

 
 

Domestic government bonds
197

 
29

 
226

International government bonds
—

 
8

 
8

Domestic corporate bonds
—

 
311

 
311

International corporate bonds
—

 
53

 
53

Registered investment companies
—

 
1

 
1

Total investment assets in the fair value hierarchy
$
1,435

 
$
402

 
1,837

Investments measured at NAV:
 
 
 
 
 
Common/collective trusts
 
 
 
 
326

Private equity funds
 
 
 
 
4

Total investment assets(1)


 


 
$
2,167

SDG&E’s proportionate share of investment assets
 
 
 
 
$
602

SoCalGas’ proportionate share of investment assets
 
 
 
 
$
1,389

 
 
 
 
 
 
 
Fair value at December 31, 2017
 
Level 1
 
Level 2
 
Total
Sempra Energy Consolidated:
 
 
 
 
 
Equity securities:
 

 
 

 
 

Domestic
$
946

 
$
—

 
$
946

International
538

 
—

 
538

Registered investment companies
102

 
—

 
102

Fixed income securities:
 

 
 

 
 

Domestic government bonds
242

 
27

 
269

International government bonds
—

 
12

 
12

Domestic corporate bonds
—

 
338

 
338

International corporate bonds
—

 
64

 
64

Registered investment companies
—

 
6

 
6

Other
—

 
1

 
1

Total investment assets in the fair value hierarchy
$
1,828

 
$
448

 
2,276

Investments measured at NAV:
 
 
 
 
 
Common/collective trusts
 
 
 
 
384

Private equity funds
 
 
 
 
4

Total investment assets(2)
 
 
 
 
$
2,664

SDG&E’s proportionate share of investment assets
 
 
 
 
$
777

SoCalGas’ proportionate share of investment assets
 
 
 
 
$
1,697

(1) 
Excludes cash and cash equivalents of $14 million and accounts payable of $21 million.
(2) 
Excludes cash and cash equivalents of $13 million and accounts payable of $18 million.

The fair values by asset category of the PBOP plan assets held in the pension master trust and in the additional trusts for SoCalGas’ PBOP plans and SDG&E’s PBOP plan trusts are as follows:

FAIR VALUE MEASUREMENTS – INVESTMENT ASSETS OF OTHER POSTRETIREMENT BENEFIT PLANS
(Dollars in millions)
 
Fair value at December 31, 2018
 
Level 1
 
Level 2
 
Total
SDG&E:
 
 
 
 
 
Equity securities:
 
 
 
 
 
Domestic
$
37

 
$
—

 
$
37

International
22

 
—

 
22

Registered investment companies
59

 
—

 
59

Fixed income securities:
 

 
 

 
 

Domestic government bonds
10

 
1

 
11

Domestic corporate bonds
—

 
16

 
16

International corporate bonds
—

 
3

 
3

Registered investment companies
—

 
7

 
7

Total investment assets in the fair value hierarchy
128

 
27

 
155

Investments measured at NAV – Common/collective trusts
 
 
 
 
17

Total investment assets(1)
 
 
 
 
172

 
 
 
 
 
 
SoCalGas:
 

 
 

 
 

Equity securities:
 

 
 

 
 

Domestic
66

 
—

 
66

International
39

 
—

 
39

Registered investment companies
62

 
—

 
62

Fixed income securities:
 

 
 

 
 

Domestic government bonds
236

 
13

 
249

International government bonds
1

 
4

 
5

Domestic corporate bonds
—

 
175

 
175

International corporate bonds
—

 
21

 
21

Registered investment companies
—

 
64

 
64

Derivative financial instruments
(4
)
 
—

 
(4
)
Total investment assets in the fair value hierarchy
400

 
277

 
677

Investments measured at NAV – Common/collective trusts
 
 
 
 
237

Total investment assets(2)
 
 
 
 
914

 
 
 
 
 
 
Other Sempra Energy:
 

 
 

 
 

Equity securities:
 

 
 

 
 

Domestic
6

 
—

 
6

International
4

 
—

 
4

Fixed income securities:
 

 
 

 
 

Domestic government bonds
2

 
—

 
2

Domestic corporate bonds
—

 
2

 
2

Registered investment companies
—

 
1

 
1

Total investment assets in the fair value hierarchy
12

 
3

 
15

Investments measured at NAV – Common/collective trusts
 
 
 
 
4

Private equity funds
 
 
 
 
1

Total other Sempra Energy investment assets
 
 
 
 
20

 
 
 
 
 
 
Total Sempra Energy Consolidated investment assets in the fair value hierarchy
$
540

 
$
307

 
 
Total Sempra Energy Consolidated investment assets(3)


 


 
$
1,106

(1) 
Excludes cash and cash equivalents of $1 million and accounts payable of $1 million held in SDG&E PBOP plan trusts.
(2) 
Excludes cash and cash equivalents of $6 million and accounts payable of $4 million held in SoCalGas PBOP plan trusts.
(3) 
Excludes cash and cash equivalents of $7 million and accounts payable of $5 million at Sempra Energy Consolidated.

FAIR VALUE MEASUREMENTS – INVESTMENT ASSETS OF OTHER POSTRETIREMENT BENEFIT PLANS
(Dollars in millions)
 
Fair value at December 31, 2017
 
Level 1
 
Level 2
 
Total
SDG&E:
 
 
 
 
 
Equity securities:
 
 
 
 
 
Domestic
$
46

 
$
—

 
$
46

International
26

 
—

 
26

Registered investment companies
52

 
—

 
52

Fixed income securities:
 

 
 

 
 

Domestic government bonds
12

 
1

 
13

International government bonds
—

 
1

 
1

Domestic corporate bonds
—

 
17

 
17

International corporate bonds
—

 
3

 
3

Registered investment companies
—

 
17

 
17

Total investment assets in the fair value hierarchy
136

 
39

 
175

Investments measured at NAV – Common/collective trusts
 
 
 
 
20

Total investment assets(1)
 
 
 
 
195

 
 
 
 
 
 
SoCalGas:
 

 
 

 
 

Equity securities:
 

 
 

 
 

Domestic
78

 
—

 
78

International
44

 
—

 
44

Registered investment companies
41

 
—

 
41

Fixed income securities:
 

 
 

 
 

Domestic government bonds
125

 
13

 
138

International government bonds
—

 
7

 
7

Domestic corporate bonds
—

 
164

 
164

International corporate bonds
—

 
28

 
28

Registered investment companies
—

 
85

 
85

Total investment assets in the fair value hierarchy
288

 
297

 
585

Investments measured at NAV – Common/collective trusts
 
 
 
 
406

Total investment assets(2)
 
 
 
 
991

 
 
 
 
 
 
Other Sempra Energy:
 

 
 

 
 

Equity securities:
 

 
 

 
 

Domestic
7

 
—

 
7

International
5

 
—

 
5

Registered investment companies
1

 
—

 
1

Fixed income securities:
 

 
 

 
 

Domestic government bonds
1

 
1

 
2

Domestic corporate bonds
—

 
2

 
2

International corporate bonds
—

 
1

 
1

Total investment assets in the fair value hierarchy
14

 
4

 
18

Investments measured at NAV – Common/collective trusts
 
 
 
 
2

Private equity funds
 
 
 
 
1

Total other Sempra Energy investment assets
 
 
 
 
21

 
 
 
 
 
 
Total Sempra Energy Consolidated investment assets in the fair value hierarchy
$
438

 
$
340

 
 
Total Sempra Energy Consolidated investment assets(3)


 


 
$
1,207

(1) 
Excludes cash and cash equivalents of $1 million and accounts payable of $1 million held in SDG&E PBOP plan trusts.
(2) 
Excludes cash and cash equivalents of $4 million and accounts payable of $2 million held in SoCalGas PBOP plan trusts.
(3) 
Excludes cash and cash equivalents of $5 million and accounts payable of $3 million at Sempra Energy Consolidated.
Schedule Of Defined Benefit Plans, Estimated Future Employer Contributions In Next Fiscal Year We expect to contribute the following amounts to our pension and PBOP plans in 2019:
EXPECTED CONTRIBUTIONS
 
 
 
 
 
(Dollars in millions)
 
 
 
 
 
 
 Sempra Energy Consolidated
 
SDG&E
 
SoCalGas
Pension plans
$
228

 
$
40

 
$
118

Other postretirement benefit plans
10

 
—

 
1
Schedule of Expected Benefit Payments The following table shows the total benefits we expect to pay for the next 10 years to current employees and retirees from the plans or from company assets.
EXPECTED BENEFIT PAYMENTS
(Dollars in millions)
 
Sempra Energy Consolidated
 
SDG&E
 
SoCalGas
 
Pension benefits
 
Other postretirement benefits
 
Pension benefits
 
Other postretirement benefits
 
Pension benefits
 
Other postretirement benefits
2019
$
416

 
$
54

 
$
109

 
$
10

 
$
207

 
$
36

2020
270

 
51

 
69

 
10

 
159

 
36

2021
268

 
52

 
64

 
10

 
154

 
37

2022
246

 
52

 
61

 
11

 
152

 
37

2023
236

 
52

 
62

 
11

 
149

 
38

2024-2028
1,097

 
257

 
282

 
51

 
698

 
187
Schedule Of Defined Benefit Plans Contributions Employer contributions to the savings plans were as follows:
EMPLOYER CONTRIBUTIONS TO SAVINGS PLANS
(Dollars in millions)
 
2018
 
2017
 
2016
Sempra Energy Consolidated
$
43

 
$
41

 
$
42

SDG&E
15

 
14

 
15

SoCalGas
23

 
22

 
22