NEW ACCOUNTING STANDARDS (Tables)

6 Months Ended

Jun. 30, 2017

Accounting Policies [Abstract]

Schedule of New Accounting Pronouncement Impact

The following financial statement line items for the six months ended June 30, 2016 were affected by the change in accounting principle:

IMPACT FROM ADOPTION OF ASU 2016-09
(Dollars in millions, except per share amounts)
	Six months ended June 30, 2016
	As previously reported			Effect of adoption		As adjusted
Sempra Energy Consolidated:
Condensed Consolidated Statement of Operations:
Income tax expense	$	(36	)	$	34	$	(2	)
Net income	357			34		391
Earnings	335			34		369
Basic earnings per common share	$	1.34		$	0.14	$	1.48
Diluted earnings per common share	$	1.33		$	0.14	$	1.47
Weighted-average number of shares outstanding, diluted (thousands)(1)	251,686			89		251,775
Condensed Consolidated Statement of Comprehensive Income (Loss):
Net income	$	357		$	34	$	391
Comprehensive income	312			34		346
Comprehensive income, after preferred dividends of subsidiary	311			34		345

Condensed Consolidated Statement of Cash Flows:
Cash flows from operating activities:
Net income	$	357		$	34		$	391
Adjustments to reconcile net income to net cash provided by operating activities:
Deferred income taxes and investment tax credits	(42		)	(34		)	(76		)
Other(2)	11			34			45
Net cash provided by operating activities	882			34			916
Cash flows from financing activities:
Tax benefit related to share-based compensation	34			(34		)	—
Net cash provided by financing activities	916			(34		)	882
SDG&E:
Condensed Consolidated Statement of Operations:
Income tax expense	$	(120	)	$	7		$	(113	)
Net income	217			7			224
Earnings attributable to common shares	229			7			236
Condensed Consolidated Statement of Comprehensive Income (Loss):
Net income	$	217		$	7		$	224
Comprehensive income	216			7			223
Condensed Consolidated Statement of Cash Flows:
Cash flows from operating activities:
Net income	$	217		$	7		$	224
Adjustments to reconcile net income to net cash provided by operating activities:
Deferred income taxes and investment tax credits	26			(7		)	19
SoCalGas:
Condensed Statement of Operations:
Income tax expense	$	(58	)	$	4		$	(54	)
Net income	195			4			199
Earnings attributable to common shares	194			4			198
Condensed Statement of Comprehensive Income (Loss):
Net income/Comprehensive income	$	195		$	4		$	199
Condensed Statement of Cash Flows:
Cash flows from operating activities:
Net income	$	195		$	4		$	199
Adjustments to reconcile net income to net cash provided by operating activities:
Deferred income taxes and investment tax credits	32			(4		)	28

(1) For the three months ended June 30, 2016, we previously reported 251,938 shares; the effect of adoption of the ASU resulted in an “as adjusted” 252,036 shares.

(2) For the six months ended June 30, 2016, we previously reported $33 million in Other, which was reduced to $11 million, as $22 million was reclassified to Impairment Losses to conform to current year presentation.