Attached files

file filename
8-K - FORM 8-K - SAN DIEGO GAS & ELECTRIC COsdge8k05022014.htm
EX-99 - EXHIBIT 99.1 - SAN DIEGO GAS & ELECTRIC COex991.htm



 

         SEMPRA ENERGY

 

 

           Table F (Unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Statement of Operations Data by Segment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended March 31, 2014

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Dollars in millions)

 

SDG&E

 

SoCalGas

 

Sempra South American Utilities

 

Sempra Mexico

 

Sempra Renewables

 

Sempra Natural Gas

 

Consolidating Adjustments, Parent & Other

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

$          987

 

$    1,085

 

$            378

 

$           201

 

$              6

 

$         260

 

$               (122)

 

 

$     2,795

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of sales and other expenses

 

(649)

 

(851)

 

(301)

 

(135)

 

(12)

 

(243)

 

104

 

 

(2,087)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization

 

(130)

 

(105)

 

(14)

 

(16)

 

(1)

 

(17)

 

(3)

 

 

(286)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gain on sale of equity interest

 

-

 

-

 

-

 

-

 

27

 

-

 

-

 

 

27

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Adjustment to loss from plant closure

 

13

(1)

-

 

-

 

-

 

-

 

-

 

-

 

 

13

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Equity earnings, before income tax

 

-

 

-

 

-

 

-

 

2

 

15

 

-

 

 

17

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other income, net

 

13

 

4

 

1

 

10

 

-

 

1

 

11

 

 

40

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) before interest and tax (2)

 

234

 

133

 

64

 

60

 

22

 

16

 

(10)

 

 

519

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net interest expense (3)

 

(50)

 

(17)

 

(5)

 

(4)

 

-

 

(1)

 

(55)

 

 

(132)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income tax (expense) benefit

 

(83)

 

(38)

 

(15)

 

(12)

 

6

 

(6)

 

21

 

 

(127)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Equity (losses) earnings, net of income tax

 

-

 

-

 

(2)

 

8

 

-

 

-

 

-

 

 

6

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings attributable to noncontrolling interests

 

(2)

 

-

 

(7)

 

(10)

 

-

 

-

 

-

 

 

(19)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (losses)

 

$            99

 

$         78

 

$              35

 

$            42

 

$            28

 

$            9

 

$                 (44)

 

 

$        247

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended March 31, 2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Dollars in millions)

 

SDG&E

 

SoCalGas

 

Sempra South American Utilities

 

Sempra Mexico

 

Sempra Renewables

 

Sempra Natural Gas

 

Consolidating Adjustments, Parent & Other

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

$          939

 

$       983

 

$            384

 

$           168

 

$            21

 

$         253

 

$                 (98)

 

 

$     2,650

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of sales and other expenses

 

(637)

 

(800)

 

(301)

 

(113)

 

(13)

 

(220)

 

92

 

 

(1,992)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization

 

(134)

 

(100)

 

(15)

 

(16)

 

(8)

 

(20)

 

(2)

 

 

(295)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gain on sale of assets

 

-

 

-

 

-

 

-

 

-

 

74

 

-

 

 

74

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Equity earnings, before income tax

 

-

 

-

 

-

 

-

 

1

 

9

 

-

 

 

10

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other income, net

 

11

 

4

 

3

 

9

 

-

 

2

 

8

 

 

37

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income before interest and tax (2)

 

179

 

87

 

71

 

48

 

1

 

98

 

-

 

 

484

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net interest expense (3)

 

(48)

 

(17)

 

(2)

 

(1)

 

(5)

 

(12)

 

(49)

 

 

(134)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income tax (expense) benefit

 

(51)

 

(24)

 

(17)

 

(26)

 

8

 

(33)

 

(35)

(4)

 

(178)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Equity (losses) earnings, net of income tax

 

-

 

-

 

(7)

 

11

 

-

 

-

 

-

 

 

4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Losses (earnings) attributable to noncontrolling interests

 

11

 

-

 

(8)

 

(1)

 

-

 

-

 

-

 

 

2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (losses)

 

$            91

 

$         46

 

$              37

 

$            31

 

$              4

 

$          53

 

$                 (84)

 

 

$        178

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1)

After taxes, including a $17 million charge to reduce certain tax regulatory assets attributed to SONGS, the adjustment to loss from plant closure is a $9 million charge to earnings.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(2)

Management believes Income (Loss) Before Interest and Tax is a useful measurement of our segments' performance because it can be used to evaluate the effectiveness of our

 

 

operations exclusive of interest and income tax, neither of which is directly relevant to the efficiency of those operations.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(3)

Net Interest Expense includes interest income, interest expense and preferred dividends of subsidiaries.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(4)

Includes $63 million income tax expense resulting from a corporate reorganization in connection with the IEnova stock offerings.