Investment in Unconsolidated Affiliates:



	June 30, 2014		December 31, 2013
	(in millions)
Enable	$	4,517	$	4,319
SESH (1)	—		199
Total	$	4,517	$	4,518


(1)	On May 30, 2014, CERC contributed a 24.95% interest in SESH to Enable, leaving CERC with a 0.1% interest in SESH as of June 30, 2014.

Equity in Earnings of Unconsolidated Affiliates, net:



	Three Months Ended June 30,				Six Months Ended June 30,
	2014		2013		2014		2013
	(in millions)
Enable (1)	$	69	$	33	$	157	$	33
SESH (2)	2		4		5		9
	$	71	$	37	$	162	$	42


(1)	On May 1, 2013, CERC formed Enable with OGE and ArcLight.


(2)	On each of May 1, 2013 and May 30, 2014, CERC contributed a 24.95% interest in SESH to Enable, leaving CERC with a 0.1% interest in SESH as of June 30, 2014.

Summarized unaudited consolidated income information for Enable is as follows:



	Three Months Ended June 30,					Six Months Ended June 30,
	2014		2013 (1)			2014		2013 (1)
	(in millions)
Operating revenues	$	826	$	502		$	1,828	$	502
Cost of sales, excluding depreciation and amortization	478		295			1,111		295
Operating income	139		75			301		75
Net income attributable to Enable	120		65			269		65

CERC's approximate interest	$	67	$	38		$	154	$	38
Basis difference accretion (amortization)	2		(5		)	3		(5		)
CERC's equity in earnings, net	$	69	$	33		$	157	$	33


(1)	The summarized income information for Enable and CERC’s equity in earnings, net of basis difference amortization, presented for the three and six months ended June 30, 2013 reflects Enable’s operating results with the contributions from both OGE and CERC recorded at historical cost for the two-month period from the Closing Date to June 30, 2013.

Enable concluded that its formation was considered a business combination, in which the fair value of the consideration paid for Enogex, LLC (Enogex), the businesses contributed by OGE, was allocated to the assets acquired and liabilities assumed by Enable on the Closing Date. In the third quarter of 2013, Enable completed its valuation of Enogex, and Enogex's assets, liabilities and equity, and the related depreciation and amortization for the two-month period ended June 30, 2013, was accordingly adjusted to estimated fair value as of the Closing Date. CERC’s equity in earnings, net of basis difference, in the second quarter of 2013 was not materially different as a result of the final fair value determination.

Summarized unaudited consolidated balance sheet information for Enable is as follows:



	June 30, 2014			December 31, 2013
	(in millions)
Current assets	$	923		$	549
Non-current assets	10,815			10,683
Current liabilities	584			720
Non-current liabilities	2,343			2,331
Non-controlling interest	32			33
Enable partners' capital	8,779			8,148

CERC's ownership interest in Enable's partner capital	$	4,862		$	4,753
CERC's basis difference	(345		)	(434		)
CERC's investment in Enable	$	4,517		$	4,319