XML 59 R21.htm IDEA: XBRL DOCUMENT v2.3.0.15
FAIR VALUE MEASUREMENTS (Tables)
3 Months Ended
Sep. 30, 2011
Fair Value Measurements (Tables) [Abstract] 
Fair Value of Financial Instruments Table
FAIR VALUE OF FINANCIAL INSTRUMENTS
(Dollars in millions)
  September 30, 2011December 31, 2010
  CarryingFairCarryingFair
  AmountValueAmountValue
Sempra Energy Consolidated:        
Investments in affordable housing partnerships(1)$ 24$ 57$ 28$ 58
Total long-term debt(2)  9,775  11,047  8,330  8,883
Due to unconsolidated affiliate(3)  ―  ―  2  2
Preferred stock of subsidiaries  99  103  179  166
SDG&E:        
Total long-term debt(4)$ 3,648$ 3,993$ 3,305$ 3,300
Contingently redeemable preferred stock  79  83  79  78
SoCalGas:        
Total long-term debt(5)$ 1,312$ 1,494$ 1,566$ 1,638
Preferred stock  22  22  22  21
(1)We discuss our investments in affordable housing partnerships in Note 4 of the Notes to Consolidated Financial Statements in the Annual Report.
(2)Before reductions for net unamortized discount (premium) of $14 million at September 30, 2011 and $22 million at December 31, 2010, and excluding capital leases of $209 million at September 30, 2011 and $221 million at December 31, 2010, and commercial paper classified as long-term debt of $200 million at September 30, 2011 and $800 million at December 31, 2010. We discuss our long-term debt in Note 6 above and in Note 5 of the Notes to Consolidated Financial Statements in the Annual Report.
(3)Note payable was extinguished due to the increase in our ownership of Chilquinta Energía S.A. to 100% in the second quarter of 2011.
(4)Before reductions for unamortized discount of $11 million at September 30, 2011 and $9 million at December 31, 2010, and excluding capital leases of $195 million at September 30, 2011 and $202 million at December 31, 2010.
(5)Before reductions for unamortized discount of $2 million at September 30, 2011 and $3 million at December 31, 2010, and excluding capital leases of $13 million at September 30, 2011 and $19 million at December 31, 2010.
Nuclear Decommissioning Trusts Table
NUCLEAR DECOMMISSIONING TRUSTS
(Dollars in millions)
     Gross Gross Estimated
     Unrealized Unrealized Fair
   Cost Gains Losses Value
As of September 30, 2011:        
Debt securities        
Debt securities issued by the U.S. Treasury and other         
U.S. government corporations and agencies(1)$ 128$ 17$ ―$ 145
Municipal bonds(2)  115  7  (1)  121
Other securities(3)  40  2  ―  42
Total debt securities  283  26  (1)  308
Equity securities  245  192  (10)  427
Cash and cash equivalents  25  ―  ―  25
Total $ 553$ 218$ (11)$ 760
As of December 31, 2010:        
Debt securities        
Debt securities issued by the U.S. Treasury and other         
U.S. government corporations and agencies$ 162$ 14$ (2)$ 174
Municipal bonds  101  2  (3)  100
Other securities  22  3  ―  25
Total debt securities  285  19  (5)  299
Equity securities  219  242  (1)  460
Cash and cash equivalents  10  ―  ―  10
Total $ 514$ 261$ (6)$ 769
(1)Maturity dates are 2012-2041.
(2)Maturity dates are 2012-2057.
(3)Maturity dates are 2012-2111.
Sales of Securities Table
SALES OF SECURITIES    
(Dollars in millions)    
 Three months ended September 30,Nine months ended September 30,
 2011201020112010
Proceeds from sales$ 294$ 97$ 384$ 247
Gross realized gains  27  4  29  7
Gross realized losses  (8)  (2)  (10)  (9)
Fair Value of Cash Collateral Receivables Not Offset on the Condensed Consolidated Balance Sheets Table
 September 30,December 31,
(Dollars in millions)20112010
Sempra Energy Consolidated$ 19$ 32
SDG&E  11  25
SoCalGas  4  3
Recurring Fair Value Measures Table
RECURRING FAIR VALUE MEASURES -- SEMPRA ENERGY CONSOLIDATED
(Dollars in millions)
 At fair value as of September 30, 2011
        Collateral  
  Level 1 Level 2 Level 3 netted Total
Assets:          
Nuclear decommissioning trusts          
Equity securities$ 427$ ―$ ―$ ―$ 427
Debt securities:          
Debt securities issued by the U.S. Treasury and other           
U.S. government corporations and agencies  84  61  ―  ―  145
Municipal bonds  ―  121  ―  ―  121
Other securities  ―  42  ―  ―  42
Total debt securities  84  224  ―  ―  308
Total nuclear decommissioning trusts(1)  511  224  ―  ―  735
Interest rate instruments  ―  69  ―  ―  69
Commodity contracts subject to rate recovery  12  ―  3  ―  15
Commodity contracts not subject to rate recovery  13  46  ―  (3)  56
Investments  8  ―  ―  ―  8
Total$ 544$ 339$ 3$ (3)$ 883
Liabilities:          
Interest rate instruments$ ―$ 122$ ―$ ―$ 122
Commodity contracts subject to rate recovery  53  6  ―  (51)  8
Commodity contracts not subject to rate recovery  2  55  ―  (4)  53
Total$ 55$ 183$ ―$ (55)$ 183
           
 At fair value as of December 31, 2010
        Collateral  
  Level 1 Level 2 Level 3 netted Total
Assets:          
Nuclear decommissioning trusts          
Equity securities$ 460$ ―$ ―$ ―$ 460
Debt securities:          
Debt securities issued by the U.S. Treasury and other           
U.S. government corporations and agencies  144  30  ―  ―  174
Municipal bonds  ―  100  ―  ―  100
Other securities  ―  25  ―  ―  25
Total debt securities  144  155  ―  ―  299
Total nuclear decommissioning trusts(1)  604  155  ―  ―  759
Interest rate instruments  ―  34  ―  ―  34
Commodity contracts subject to rate recovery  25  1  2  ―  28
Commodity contracts not subject to rate recovery  9  66  ―  (22)  53
Investments  1  ―  ―  ―  1
Total$ 639$ 256$ 2$ (22)$ 875
Liabilities:          
Interest rate instruments$ ―$ 82$ ―$ ―$ 82
Commodity contracts subject to rate recovery  60  8  ―  (60)  8
Commodity contracts not subject to rate recovery  ―  67  ―  ―  67
Total$ 60$ 157$ ―$ (60)$ 157
(1)Excludes cash balances and cash equivalents.          

RECURRING FAIR VALUE MEASURES -- SDG&E
(Dollars in millions)
 At fair value as of September 30, 2011
        Collateral  
  Level 1 Level 2 Level 3 netted Total
Assets:          
Nuclear decommissioning trusts          
Equity securities$ 427$ ―$ ―$ ―$ 427
Debt securities:          
Debt securities issued by the U.S. Treasury and other          
U.S. government corporations and agencies  84  61  ―  ―  145
Municipal bonds   ―  121  ―  ―  121
Other securities   ―  42  ―  ―  42
Total debt securities  84  224  ―  ―  308
Total nuclear decommissioning trusts(1)  511  224  ―  ―  735
Commodity contracts subject to rate recovery  11  ―  3  ―  14
Commodity contracts not subject to rate recovery  1  ―  ―  ―  1
Total$ 523$ 224$ 3$ ―$ 750
           
Liabilities:          
Interest rate instruments$ ―$ 79$ ―$ ―$ 79
Commodity contracts subject to rate recovery  51  5  ―  (51)  5
Total$ 51$ 84$ ―$ (51)$ 84
           
 At fair value as of December 31, 2010
        Collateral  
  Level 1 Level 2 Level 3 netted Total
Assets:          
Nuclear decommissioning trusts          
Equity securities$ 460$ ―$ ―$ ―$ 460
Debt securities:          
Debt securities issued by the U.S. Treasury and other          
U.S. government corporations and agencies  144  30  ―  ―  174
Municipal bonds   ―  100  ―  ―  100
Other securities   ―  25  ―  ―  25
Total debt securities  144  155  ―  ―  299
Total nuclear decommissioning trusts(1)  604  155  ―  ―  759
Commodity contracts subject to rate recovery  24  ―  2  ―  26
Commodity contracts not subject to rate recovery  2  ―  ―  ―  2
Total$ 630$ 155$ 2$ ―$ 787
           
Liabilities:          
Interest rate instruments$ ―$ 58$ ―$ ―$ 58
Commodity contracts subject to rate recovery  60  2  ―  (60)  2
Total$ 60$ 60$ ―$ (60)$ 60
(1)Excludes cash balances and cash equivalents.          

RECURRING FAIR VALUE MEASURES -- SOCALGAS
(Dollars in millions)
 At fair value as of September 30, 2011
        Collateral  
  Level 1 Level 2 Level 3 netted Total
Assets:          
Commodity contracts subject to rate recovery$ 1$ ―$ ―$ ―$ 1
Commodity contracts not subject to rate recovery  2  ―  ―  ―  2
Total$ 3$ ―$ ―$ ―$ 3
Liabilities:          
Commodity contracts subject to rate recovery$ 2$ 1$ ―$ ―$ 3
           
 At fair value as of December 31, 2010
        Collateral  
  Level 1 Level 2 Level 3 netted Total
Assets:          
Interest rate instruments$ ―$ 3$ ―$ ―$ 3
Commodity contracts subject to rate recovery  1  1  ―  ―  2
Commodity contracts not subject to rate recovery  3  ―  ―  ―  3
Total$ 4$ 4$ ―$ ―$ 8
Recurring Fair Value Measures Level 3 Rollforward Table
 Three months ended September 30,
(Dollars in millions)20112010
Balance as of July 1$ 3$ 7
Realized and unrealized gains (losses)  5  (1)
Allocated transmission instruments  ―  7
Settlements  (5)  (1)
Balance as of September 30$ 3$ 12
Change in unrealized gains relating to     
instruments still held at September 30$ ―$ ―

 Nine months ended September 30,
(Dollars in millions)20112010
Balance as of January 1$ 2$ 10
Realized and unrealized gains (losses)  17  (5)
Allocated transmission instruments  2  7
Settlements  (18)  ―
Balance as of September 30$ 3$ 12
Change in unrealized gains relating to     
instruments still held at September 30$ ―$ ―