DERIVATIVE INSTRUMENTS ON THE CONDENSED CONSOLIDATED BALANCE SHEETS |
(Dollars in millions) |
| | June 30, 2016 |
| | | | | | | | | Deferred |
| | | | | | | | | credits |
| | | Current | | | | Current | | and other |
| | | assets: | | | | liabilities: | | liabilities: |
| | | Fixed-price | | | | Fixed-price | | Fixed-price |
| | | contracts | | Other | | contracts | | contracts |
| | | and other | | assets: | | and other | | and other |
| | derivatives(1) | | Sundry | | derivatives(2) | | derivatives |
Sempra Energy Consolidated: | | | | | | | | |
Derivatives designated as hedging instruments: | | | | | | | | |
Interest rate and foreign exchange instruments(3) | $ | 1 | $ | ― | $ | (15) | $ | (184) |
Commodity contracts not subject to rate recovery | | ― | | ― | | (5) | | ― |
Derivatives not designated as hedging instruments: | | | | | | | | |
Interest rate and foreign exchange instruments | | ― | | ― | | (12) | | ― |
Commodity contracts not subject to rate recovery | | 208 | | 22 | | (227) | | (17) |
Associated offsetting commodity contracts | | (199) | | (13) | | 199 | | 13 |
Associated offsetting cash collateral | | ― | | ― | | 30 | | 1 |
Commodity contracts subject to rate recovery | | 18 | | 52 | | (35) | | (48) |
Associated offsetting commodity contracts | | (4) | | (2) | | 4 | | 2 |
Associated offsetting cash collateral | | ― | | ― | | 13 | | 15 |
Net amounts presented on the balance sheet | | 24 | | 59 | | (48) | | (218) |
Additional cash collateral for commodity contracts | | | | | | | | |
not subject to rate recovery | | 14 | | ― | | ― | | ― |
Additional cash collateral for commodity contracts | | | | | | | | |
subject to rate recovery | | 27 | | ― | | ― | | ― |
Total(4) | $ | 65 | $ | 59 | $ | (48) | $ | (218) |
SDG&E: | | | | | | | | |
Derivatives designated as hedging instruments: | | | | | | | | |
Interest rate instruments(3) | $ | ― | $ | ― | $ | (14) | $ | (23) |
Derivatives not designated as hedging instruments: | | | | | | | | |
Commodity contracts subject to rate recovery | | 16 | | 52 | | (32) | | (48) |
Associated offsetting commodity contracts | | (3) | | (2) | | 3 | | 2 |
Associated offsetting cash collateral | | ― | | ― | | 12 | | 15 |
Net amounts presented on the balance sheet | | 13 | | 50 | | (31) | | (54) |
Additional cash collateral for commodity contracts | | | | | | | | |
subject to rate recovery | | 26 | | ― | | ― | | ― |
Total(4) | $ | 39 | $ | 50 | $ | (31) | $ | (54) |
SoCalGas: | | | | | | | | |
Derivatives not designated as hedging instruments: | | | | | | | | |
Commodity contracts not subject to rate recovery | $ | ― | $ | ― | $ | (1) | $ | ― |
Associated offsetting cash collateral | | ― | | ― | | 1 | | ― |
Commodity contracts subject to rate recovery | | 2 | | ― | | (3) | | ― |
Associated offsetting commodity contracts | | (1) | | ― | | 1 | | ― |
Associated offsetting cash collateral | | ― | | ― | | 1 | | ― |
Net amounts presented on the balance sheet | | 1 | | ― | | (1) | | ― |
Additional cash collateral for commodity contracts | | | | | | | | |
not subject to rate recovery | | 1 | | ― | | ― | | ― |
Additional cash collateral for commodity contracts | | | | | | | | |
subject to rate recovery | | 1 | | ― | | ― | | ― |
Total | $ | 3 | $ | ― | $ | (1) | $ | ― |
(1) | Included in Current Assets: Other for SoCalGas. | | | | | | | | |
(2) | Included in Current Liabilities: Other for SoCalGas. | | | | | | | | |
(3) | Includes Otay Mesa VIE. All of SDG&E’s amounts relate to Otay Mesa VIE. | | | | | | |
(4) | Normal purchase contracts previously measured at fair value are excluded. | | | | | | |