SEMPRA ENERGY - FORM 8-K - EX-99.2 - EXHIBIT 99.2 - February 27, 2018

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Exhibit 99.2
 
         SEMPRA ENERGY
           Table F (Unaudited)
STATEMENT OF OPERATIONS DATA BY SEGMENT
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three months ended December 31, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(Dollars in millions)
SDG&E
 
SoCalGas
 
Sempra South American Utilities
 
Sempra Mexico
 
Sempra Renewables
 
Sempra LNG & Midstream
 
Consolidating Adjustments, Parent & Other
 
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues
$
1,125

 
$
1,090

 
$
398

 
$
323

 
$
20

 
$
134

 
$
(126
)
 
 
$
2,964

Cost of sales and other expenses
(706
)
 
(757
)
 
(312
)
 
(164
)
 
(19
)
 
(136
)
 
104

 
 
(1,990
)
Depreciation and amortization
(171
)
 
(131
)
 
(14
)
 
(42
)
 
(10
)
 
(11
)
 
(5
)
 
 
(384
)
Equity earnings (losses), before income tax
—

 
—

 
—

 
—

 
4

 
(1
)
 
—

 
 
3

Other income (expense), net
17

 
8

 
6

 
(86
)
 
1

 
1

 
6

 
 
(47
)
Income (loss) before interest and tax(1)
265

 
210

 
78

 
31

 
(4
)
 
(13
)
 
(21
)
 
 
546

Net interest (expense) income(2)
(52
)
 
(25
)
 
3

 
(13
)
 
(1
)
 
3

 
(61
)
 
 
(146
)
Income tax (expense) benefit(3)
(83
)
 
(57
)
 
(23
)
 
51

 
201

 
136

 
(1,123
)
 
 
(898
)
Equity earnings, net of income tax
—

 
—

 
2

 
45

 
—

 
—

 
—

 
 
47

Losses (earnings) attributable to noncontrolling interests
1

 
—

 
(8
)
 
(50
)
 
7

 
—

 
—

 
 
(50
)
Earnings (losses)
$
131

 
$
128

 
$
52

 
$
64

 
$
203

 
$
126

 
$
(1,205
)
 

$
(501
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three months ended December 31, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(Dollars in millions)
SDG&E
 
SoCalGas
 
Sempra South American Utilities
 
Sempra Mexico
 
Sempra Renewables
 
Sempra LNG & Midstream
 
Consolidating Adjustments, Parent & Other
 
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues
$
1,061

 
$
1,135

 
$
386

 
$
244

 
$
9

 
$
124

 
$
(89
)
 
 
$
2,870

Cost of sales and other expenses
(632
)
 
(779
)
 
(318
)
 
(124
)
 
(16
)
 
(127
)
 
58

 
 
(1,938
)
Depreciation and amortization
(168
)
 
(121
)
 
(8
)
 
(30
)
 
(2
)
 
(10
)
 
(3
)
 
 
(342
)
Adjustment to impairment losses
—

 
1

 
—

 
—

 
—

 
—

 
—

 
 
1

(Loss) gain on sale of assets
—

 
—

 
(1
)
 
—

 
4

 
—

 
—

 
 
3

Equity earnings (losses), before income tax
—

 
—

 
—

 
—

 
4

 
(2
)
 
—

 
 
2

Other income (expense), net
12

 
8

 
11

 
6

 
1

 
1

 
(5
)
 
 
34

Income (loss) before interest and tax(1)
273

 
244

 
70

 
96

 
—

 
(14
)
 
(39
)
 
 
630

Net interest (expense) income(2)
(50
)
 
(25
)
 
(3
)
 
1

 
(1
)
 
9

 
(56
)
 
 
(125
)
Income tax (expense) benefit
(76
)
 
(68
)
 
(34
)
 
(18
)
 
9

 
3

 
79

 
 
(105
)
Equity earnings, net of income tax
—

 
—

 
—

 
9

 
—

 
—

 
—

 
 
9

Losses (earnings) attributable to noncontrolling interests
4

 
—

 
(4
)
 
(32
)
 
4

 
(1
)
 
(1
)
 
 
(30
)
Earnings (losses)
$
151

 
$
151

 
$
29

 
$
56

 
$
12

 
$
(3
)
 
$
(17
)
 
 
$
379

(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) 
Includes $(870) from (unfavorable) favorable impacts from the Tax Cuts and Jobs Act of 2017, as follows, in millions: SDG&E $(28), SoCalGas $(2), Sempra Renewables $192, Sempra LNG & Midstream $133 and Parent and Other $(1,165).




         SEMPRA ENERGY
           Table F (Unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
STATEMENT OF OPERATIONS DATA BY SEGMENT
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year ended December 31, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(Dollars in millions)
SDG&E
 
SoCalGas
 
Sempra South American Utilities
 
Sempra Mexico
 
Sempra Renewables
 
Sempra LNG & Midstream
 
Consolidating Adjustments, Parent & Other
 
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues
$
4,476

 
$
3,785

 
$
1,567

 
$
1,196

 
$
94

 
$
540

 
$
(451
)
 
 
$
11,207

Cost of sales and other expenses
(2,742
)
 
(2,648
)
 
(1,228
)
 
(568
)
 
(76
)
 
(489
)
 
367

 
 
(7,384
)
Depreciation and amortization
(670
)
 
(515
)
 
(54
)
 
(156
)
 
(38
)
 
(42
)
 
(15
)
 
 
(1,490
)
Write-off and impairment losses
(351
)
 
—

 
—

 
(72
)
 
—

 
—

 
—

 
 
(423
)
Equity earnings, before income tax
—

 
—

 
—

 
—

 
29

 
5

 
—

 
 
34

Other income, net
66

 
36

 
14

 
105

 
2

 
3

 
28

 
 
254

Income (loss) before interest and tax(1)
779

 
658

 
299

 
505

 
11

 
17

 
(71
)
 
 
2,198

Net interest (expense) income(2)
(203
)
 
(102
)
 
(10
)
 
(74
)
 
(8
)
 
17

 
(234
)
 
 
(614
)
Income tax (expense) benefit(3)
(155
)
 
(160
)
 
(80
)
 
(227
)
 
226

 
119

 
(999
)
 
 
(1,276
)
Equity earnings, net of income tax
—

 
—

 
4

 
38

 
—

 
—

 
—

 
 
42

(Earnings) losses attributable to noncontrolling interests
(14
)
 
—

 
(27
)
 
(73
)
 
23

 
(3
)
 
—

 
 
(94
)
Earnings (losses)
$
407

 
$
396

 
$
186

 
$
169

 
$
252

 
$
150

 
$
(1,304
)
 
 
$
256

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year ended December 31, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(Dollars in millions)
SDG&E
 
SoCalGas
 
Sempra South American Utilities
 
Sempra Mexico
 
Sempra Renewables
 
Sempra LNG & Midstream
 
Consolidating Adjustments, Parent & Other
 
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues
$
4,253

 
$
3,471

 
$
1,556

 
$
725

 
$
34

 
$
508

 
$
(364
)
 
 
$
10,183

Cost of sales and other expenses
(2,617
)
 
(2,416
)
 
(1,255
)
 
(413
)
 
(56
)
 
(780
)
 
287

 
 
(7,250
)
Depreciation and amortization
(646
)
 
(476
)
 
(49
)
 
(77
)
 
(6
)
 
(47
)
 
(11
)
 
 
(1,312
)
Impairments
—

 
(22
)
 
—

 
(131
)
 
—

 
—

 
—

 
 
(153
)
Gain on sale of assets
—

 
—

 
—

 
—

 
4

 
130

 
—

 
 
134

Equity earnings (losses), before income tax
—

 
—

 
—

 
—

 
34

 
(28
)
 
—

 
 
6

Remeasurement of equity method investment
—

 
—

 
—

 
617

 
—

 
—

 
—

 
 
617

Other income (expense), net
50

 
32

 
21

 
(5
)
 
2

 
3

 
29

 
 
132

Income (loss) before interest and tax(1)
1,040

 
589

 
273

 
716

 
12

 
(214
)
 
(59
)
 
 
2,357

Net interest (expense) income(2)
(195
)
 
(97
)
 
(17
)
 
(7
)
 
1

 
28

 
(241
)
 
 
(528
)
Income tax (expense) benefit
(280
)
 
(143
)
 
(80
)
 
(188
)
 
38

 
80

 
184

 
 
(389
)
Equity earnings, net of income tax
—

 
—

 
3

 
75

 
—

 
—

 
—

 
 
78

Losses (earnings) attributable to noncontrolling interests
5

 
—

 
(23
)
 
(133
)
 
4

 
(1
)
 
—

 
 
(148
)
Earnings (losses)
$
570

 
$
349

 
$
156

 
$
463

 
$
55

 
$
(107
)
 
$
(116
)
 
 
$
1,370

(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) 
Includes $(870) from (unfavorable) favorable impacts from the Tax Cuts and Jobs Act of 2017, as follows, in millions: SDG&E $(28), SoCalGas $(2), Sempra Renewables $192, Sempra LNG & Midstream $133 and Parent and Other $(1,165).


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