SAN DIEGO GAS & ELECTRIC CO - FORM 8-K - EX-99.2 - EXHIBIT 99.2 - November 2, 2016

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Exhibit 99.2
 
         SEMPRA ENERGY
           Table F (Unaudited)
STATEMENT OF OPERATIONS DATA BY SEGMENT
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three months ended September 30, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(Dollars in millions)
SDG&E
 
SoCalGas
 
Sempra South American Utilities
 
Sempra Mexico
 
Sempra Renewables
 
Sempra Natural Gas
 
Consolidating Adjustments, Parent & Other
 
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues
$
1,209

 
$
686

 
$
385

 
$
196

 
$
12

 
$
164

 
$
(117
)
 
 
$
2,535

Cost of sales and other expenses
(725
)
 
(526
)
 
(302
)
 
(121
)
 
(14
)
 
(163
)
 
101

 
 
(1,750
)
Depreciation and amortization
(161
)
 
(121
)
 
(14
)
 
(15
)
 
(1
)
 
(12
)
 
(4
)
 
 
(328
)
Impairment losses
—

 
(1
)
 
—

 
(131
)
 
—

 
—

 
—

 
 
(132
)
Gain on sale of assets
—

 
—

 
1

 
—

 
—

 
130

 
—

 
 
131

Equity earnings, before income tax
—

 
—

 
—

 
—

 
12

 
—

 
—

 
 
12

Remeasurement of equity method investment
—

 
—

 
—

 
617

 
—

 
—

 
—

 
 
617

Other income (expense), net
11

 
8

 
3

 
(7
)
 
—

 
1

 
10

 
 
26

Income (loss) before interest and tax (1)
334

 
46

 
73

 
539

 
9

 
120

 
(10
)
 
 
1,111

Net interest (expense) income (2)
(49
)
 
(25
)
 
(4
)
 
(3
)
 
1

 
8

 
(57
)
 
 
(129
)
Income tax (expense) benefit
(91
)
 
(21
)
 
(17
)
 
(142
)
 
7

 
(51
)
 
33

 
 
(282
)
Equity earnings, net of income tax
—

 
—

 
1

 
18

 
—

 
—

 
—

 
 
19

Earnings attributable to noncontrolling interests
(11
)
 
—

 
(7
)
 
(80
)
 
—

 
—

 
1

 
 
(97
)
Earnings (losses)
$
183

 
$
—

 
$
46

 
$
332

 
$
17

 
$
77

 
$
(33
)
 
 
$
622

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three months ended September 30, 2015
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(Dollars in millions)
SDG&E
 
SoCalGas
 
Sempra South American Utilities
 
Sempra Mexico
 
Sempra Renewables
 
Sempra Natural Gas
 
Consolidating Adjustments, Parent & Other
 
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues
$
1,230

 
$
620

 
$
373

 
$
193

 
$
12

 
$
160

 
$
(107
)
 
 
$
2,481

Cost of sales and other expenses
(778
)
 
(517
)
 
(298
)
 
(122
)
 
(13
)
 
(176
)
 
100

 
 
(1,804
)
Depreciation and amortization
(152
)
 
(116
)
 
(12
)
 
(18
)
 
(2
)
 
(12
)
 
(3
)
 
 
(315
)
Equity earnings, before income tax
—

 
—

 
—

 
—

 
8

 
25

 
—

 
 
33

Other income (expense), net
8

 
8

 
9

 
(4
)
 
—

 
—

 
(9
)
 
 
12

Income (loss) before interest and tax (1)
308

 
(5
)
 
72

 
49

 
5

 
(3
)
 
(19
)
 
 
407

Net interest (expense) income (2)
(51
)
 
(23
)
 
(4
)
 
(6
)
 
1

 
3

 
(57
)
 
 
(137
)
Income tax (expense) benefit
(75
)
 
20

 
(16
)
 
6

 
9

 
—

 
41

 
 
(15
)
Equity (losses) earnings, net of income tax
—

 
—

 
(3
)
 
30

 
—

 
—

 
—

 
 
27

(Earnings) losses attributable to noncontrolling interests
(12
)
 
—

 
(6
)
 
(16
)
 
—

 
1

 
(1
)
 
 
(34
)
Earnings (losses)
$
170

 
$
(8
)
 
$
43

 
$
63

 
$
15

 
$
1

 
$
(36
)
 
 
$
248

 
 
(1)
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.
(2)
Includes interest income, interest expense and preferred dividends of subsidiary.
 
 
 








         SEMPRA ENERGY
           Table F (Unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
STATEMENT OF OPERATIONS DATA BY SEGMENT
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Nine months ended September 30, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(Dollars in millions)
SDG&E
 
SoCalGas
 
Sempra South American Utilities
 
Sempra Mexico
 
Sempra Renewables
 
Sempra Natural Gas
 
Consolidating Adjustments, Parent & Other
 
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues
$
3,192

 
$
2,336

 
$
1,170

 
$
481

 
$
25

 
$
384

 
$
(275
)
 
 
$
7,313

Cost of sales and other expenses
(1,985
)
 
(1,637
)
 
(937
)
 
(289
)
 
(40
)
 
(653
)
 
229

 
 
(5,312
)
Depreciation and amortization
(478
)
 
(355
)
 
(41
)
 
(47
)
 
(4
)
 
(37
)
 
(8
)
 
 
(970
)
Impairment losses
—

 
(23
)
 
—

 
(131
)
 
—

 
—

 
—

 
 
(154
)
Gain on sale of assets
—

 
—

 
1

 
—

 
—

 
130

 
—

 
 
131

Equity earnings (losses), before income tax
—

 
—

 
—

 
—

 
30

 
(26
)
 
—

 
 
4

Remeasurement of equity method investment
—

 
—

 
—

 
617

 
—

 
—

 
—

 
 
617

Other income (expense), net
38

 
24

 
10

 
(11
)
 
1

 
2

 
34

 
 
98

Income (loss) before interest and tax (1)
767

 
345

 
203

 
620

 
12

 
(200
)
 
(20
)
 
 
1,727

Net interest (expense) income (2)
(145
)
 
(72
)
 
(14
)
 
(8
)
 
2

 
19

 
(185
)
 
 
(403
)
Income tax (expense) benefit (3)
(204
)
 
(75
)
 
(46
)
 
(170
)
 
29

 
77

 
105

 
 
(284
)
Equity earnings, net of income tax
—

 
—

 
3

 
66

 
—

 
—

 
—

 
 
69

Losses (earnings) attributable to noncontrolling interests
1

 
—

 
(19
)
 
(101
)
 
—

 
—

 
1

 
 
(118
)
Earnings (losses) (3)
$
419

 
$
198

 
$
127

 
$
407

 
$
43

 
$
(104
)
 
$
(99
)
 
 
$
991

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Nine months ended September 30, 2015
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(Dollars in millions)
SDG&E
 
SoCalGas
 
Sempra South American Utilities
 
Sempra Mexico
 
Sempra Renewables
 
Sempra Natural Gas
 
Consolidating Adjustments, Parent & Other
 
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues
$
3,168

 
$
2,448

 
$
1,151

 
$
508

 
$
30

 
$
512

 
$
(287
)
 
 
$
7,530

Cost of sales and other expenses
(1,934
)
 
(1,705
)
 
(923
)
 
(314
)
 
(36
)
 
(528
)
 
250

 
 
(5,190
)
Depreciation and amortization
(446
)
 
(342
)
 
(37
)
 
(52
)
 
(5
)
 
(36
)
 
(7
)
 
 
(925
)
Plant closure adjustment
21

 
—

 
—

 
—

 
—

 
—

 
—

 
 
21

Gain on sale of assets
—

 
—

 
1

 
—

 
—

 
61

 
—

 
 
62

Equity earnings, before income tax
—

 
—

 
—

 
—

 
20

 
59

 
—

 
 
79

Other income, net
26

 
25

 
18

 
11

 
1

 
—

 
7

 
 
88

Income (loss) before interest and tax (1)
835

 
426

 
210

 
153

 
10

 
68

 
(37
)
 
 
1,665

Net interest (expense) income (2)
(155
)
 
(59
)
 
(8
)
 
(13
)
 
—

 
3

 
(162
)
 
 
(394
)
Income tax (expense) benefit
(217
)
 
(91
)
 
(50
)
 
(7
)
 
37

 
(29
)
 
81

 
 
(276
)
Equity (losses) earnings, net of income tax
—

 
—

 
(4
)
 
68

 
—

 
—

 
—

 
 
64

(Earnings) losses attributable to noncontrolling interests
(20
)
 
—

 
(19
)
 
(41
)
 
—

 
1

 
—

 
 
(79
)
Earnings (losses)
$
443

 
$
276

 
$
129

 
$
160

 
$
47

 
$
43

 
$
(118
)
 
 
$
980

 
 
(1)
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.
(2)
Includes interest income, interest expense and preferred dividends of subsidiary.
 
 
 
(3)
The nine months ended September 30, 2016 reflects the prospective adoption of ASU 2016-09 as of January 1, 2016.