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INVESTMENTS IN UNCONSOLIDATED ENTITIES (Tables)
 12 Months Ended
Dec. 31, 2021
Investments [Abstract]  
Equity Method Investments
We provide the carrying values of our investments and earnings (losses) on these investments in the following tables.
EQUITY METHOD AND OTHER INVESTMENT BALANCES
(Dollars in millions)
Percent ownership
 December 31,December 31,
 202120202019202120202019
Sempra Texas Utilities:
Oncor Holdings(1)
100 %100 %100 %$12,947 $12,440 $11,519 
Sempra Texas Utilities:
Sharyland Holdings(2)
50 50 50 $100 $102 $100 
Sempra Infrastructure:  
Cameron LNG JV(3)
50.2 50.2 50.2 514 433 1,256 
ESJ JV(4)
— 50 50 — 34 39 
IMG JV(5)
40 40 40 523 440 337 
TAG JV(6)
50 50 50 388 378 365 
Total other equity method investments1,525 1,387 2,097 
Other— 1 6 
Total other investments$1,525 $1,388 $2,103 
(1)    The carrying value of our equity method investment is $2,844, $2,833 and $2,823 higher than the underlying equity in the net assets of the investee at December 31, 2021, 2020 and 2019, respectively, due to $2,868 of equity method goodwill and $69 in basis differences in AOCI, offset by $93, $104 and $114 at December 31, 2021, 2020 and 2019, respectively, due to a tax sharing liability to TTI under a tax sharing agreement.
(2)    The carrying value of our equity method investment is $42 higher than the underlying equity in the net assets of the investee due to equity method goodwill.
(3)    The carrying value of our equity method investment is $276, $259 and $263 higher than the underlying equity in the net assets of the investee at December 31, 2021, 2020 and 2019, respectively, primarily due to guarantees, which we discuss below, interest capitalized on the investment prior to the JV commencing its planned principal operations in August 2019 and amortization of guarantee fees and capitalized interest thereafter.
(4)    In March 2021, Sempra Infrastructure completed the acquisition of the remaining 50% interest in ESJ and ESJ became a wholly owned, consolidated subsidiary. After the acquisition, ESJ is no longer accounted for as an equity method investment. The carrying value of our equity method investment is $12 higher than the underlying equity in the net assets of the investee at December 31, 2020 and 2019 due to the remeasurement of our retained investment to fair value in 2014.
(5)    The carrying value of our equity method investment is $5 higher than the underlying equity in the net assets of the investee due to guarantees.
(6)    The carrying value of our equity method investment is $130 higher than the underlying equity in the net assets of the investee due to equity method goodwill.
EARNINGS (LOSSES) FROM EQUITY METHOD INVESTMENTS
(Dollars in millions)
 Years ended December 31,
 202120202019
EARNINGS (LOSSES) RECORDED BEFORE INCOME TAX(1):
   
Sempra Texas Utilities:
Sharyland Holdings$5 $3 $2 
Sempra Infrastructure:   
Cameron LNG JV(2)
559 391 24 
Sempra Renewables:   
Wind assets— — 5
Parent and other:   
RBS Sempra Commodities50 (100)— 
Other— — (1)
 614 294 30 
EARNINGS RECORDED NET OF INCOME TAX:   
Sempra Texas Utilities:
Oncor Holdings617 577 526 
Sempra Infrastructure:   
ESJ JV2 5 2 
IMG JV83 103 9 
TAG JV27 36 13 
 729 721 550 
Total$1,343 $1,015 $580 
(1)    We provide our ETR calculation in Note 8.
(2)    Includes $3 of basis differences in equity earnings related to AOCI in 2021.
We disclose distributions received from our investments, by segment, in the table below.
DISTRIBUTIONS FROM INVESTMENTS
(Dollars in millions)
 Years ended December 31,
 202120202019
Sempra Texas Utilities$688 $286 $246 
Sempra Infrastructure672 1,176 2 
Sempra Renewables— — 1 
Parent and other— — 7 
Total$1,360 $1,462 $256 
Schedule of Summarized Financial Information
We provide summarized income statement and balance sheet information for Oncor Holdings in the following table.
SUMMARIZED FINANCIAL INFORMATION – ONCOR HOLDINGS
(Dollars in millions)
 Year ended December 31,
202120202019
Operating revenues$4,764 $4,511 $4,347 
Operating expense(3,397)(3,224)(3,135)
Income from operations1,367 1,287 1,212 
Interest expense(413)(405)(375)
Income tax expense(163)(146)(131)
Net income760 703 643 
Noncontrolling interest held by TTI(152)(141)(129)
Earnings attributable to Sempra(1)
608 562 514 
At December 31,
202120202019
Current assets$1,039 $1,045 $913 
Noncurrent assets29,481 28,022 26,012 
Current liabilities2,220 1,120 1,626 
Noncurrent liabilities15,281 15,611 14,125 
Noncontrolling interest held by TTI2,916 2,737 2,473 
(1)    Excludes adjustments to equity earnings related to amortization of a tax sharing liability associated with a tax sharing arrangement and changes in basis differences in AOCI within the carrying value of our equity method investment.
We present summarized financial information below, aggregated for all other equity method investments (excluding Oncor Holdings and RBS Sempra Commodities) for the periods in which we were invested in the entities. The amounts below represent the results of operations and aggregate financial position of 100% of each of Sempra’s other equity method investments.
SUMMARIZED FINANCIAL INFORMATION – OTHER EQUITY METHOD INVESTMENTS
(Dollars in millions)
 Years ended December 31,
 
2021(1)
2020
2019(2)
Gross revenues$2,721 $2,341 $798 
Operating expense(719)(706)(372)
Income from operations2,002 1,635 426 
Interest expense(548)(514)(401)
Net income/Earnings(3)
1,388 1,132 85 
 At December 31,
 
2021(1)
2020
2019(2)
Current assets$788 $1,035 $1,124 
Noncurrent assets14,686 15,304 15,039 
Current liabilities1,230 1,342 1,232 
Noncurrent liabilities11,807 12,863 11,438 
(1)    In March 2021, Sempra Infrastructure completed the acquisition of the remaining 50% equity interest in ESJ and ESJ became a wholly owned, consolidated subsidiary.
(2)    On April 22, 2019, Sempra Renewables sold its remaining wind assets and investments. As of April 22, 2019, these wind assets and investments are no longer equity method investments.
(3)    Except for our investments in Mexico, there was no income tax recorded by the entities, as they are primarily domestic partnerships.