XML 72 R40.htm IDEA: XBRL DOCUMENT v3.10.0.1
SHARE-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2018
Share-based Compensation [Abstract]  
Schedule Of Share-based Compensation Expense Total share-based compensation expense for all of Sempra Energy’s share-based awards was comprised as follows:
SHARE-BASED COMPENSATION EXPENSE
(Dollars in millions)
 
Years ended December 31,
 
2018
 
2017
 
2016
Sempra Energy Consolidated:
 
 
 
 
 
Share-based compensation expense, before income taxes
$
76

 
$
78

 
$
46

Income tax benefit
(21
)
 
(31
)
 
(18
)
 
$
55

 
$
47

 
$
28

 
 
 
 
 
 
Capitalized share-based compensation cost
$
10

 
$
9

 
$
7

Excess income tax deficiency (benefit)
$
15

 
$
—

 
$
(34
)
SDG&E:
 
 
 
 
 
Share-based compensation expense, before income taxes
$
12

 
$
13

 
$
7

Income tax benefit
(3
)
 
(5
)
 
(3
)
 
$
9

 
$
8

 
$
4

 
 
 
 
 
 
Capitalized share-based compensation cost
$
6

 
$
5

 
$
4

Excess income tax deficiency (benefit)
$
3

 
$
—

 
$
(7
)
SoCalGas:
 

 
 

 
 

Share-based compensation expense, before income taxes
$
16

 
$
17

 
$
8

Income tax benefit
(5
)
 
(7
)
 
(3
)
 
$
11

 
$
10

 
$
5

 
 
 
 
 
 
Capitalized share-based compensation cost
$
4

 
$
4

 
$
3

Excess income tax deficiency (benefit)
$
2

 
$
—

 
$
(4
)
Schedule Of Non-qualified Stock Options The following table shows a summary of non-qualified stock options at December 31, 2018 and activity for the year then ended:
NON-QUALIFIED STOCK OPTIONS
 
 
 
 
 
 
 
 
 
Common shares under option
 
Weighted- average exercise price
 
Weighted- average remaining contractual term (in years)
 
Aggregate intrinsic value (in millions)
Outstanding at January 1, 2018
195,801

 
$
50.30

 
 
 
 
Exercised
(138,861
)
 
$
48.53

 
 
 
 
Outstanding at December 31, 2018
56,940

 
$
54.63

 
0.9
 
$
3

 
 
 
 
 
 
 
 
Vested at December 31, 2018
56,940

 
$
54.63

 
0.9
 
$
3

Exercisable at December 31, 2018
56,940

 
$
54.63

 
0.9
 
$
3
Schedule Of Restricted Stock Awards And Units Valuation Assumptions Below are key assumptions for Sempra Energy awards granted in the last three years:
KEY ASSUMPTIONS FOR AWARDS GRANTED
 
 
Years ended December 31,
 
2018
 
2017
 
2016
Risk-free rate of return
2.0
%
 
1.5
%
 
1.3
%
Stock price volatility
17

 
17

 
16
Schedule Of Restricted Stock Units We provide below a summary of Sempra Energy’s RSUs as of December 31, 2018 and the activity during the year.
RESTRICTED STOCK UNITS
 
 
 
 
 
 
 
 
 
 
 
Performance-based
restricted stock units
 
Service-based
restricted stock units
 
Units
 
Weighted- average
grant-date
fair value
 
Units
 
Weighted- average
grant-date
fair value
Nonvested at January 1, 2018
1,701,617

 
$
105.84

 
285,895

 
$
98.81

Granted
358,363

 
$
105.03

 
288,474

 
$
107.60

Vested
(157,745
)
 
$
99.42

 
(163,609
)
 
$
100.60

Forfeited
(660,066
)
 
$
106.45

 
(8,399
)
 
$
103.32

Nonvested at December 31, 2018(1)
1,242,169

 
$
106.11

 
402,361

 
$
105.01

Expected to vest at December 31, 2018
1,211,529

 
$
105.47

 
396,358

 
$
104.26

(1) 
Each RSU represents the right to receive one share of our common stock if applicable performance conditions are satisfied. For all performance-based RSUs, except for those issued in connection with the creation of Cameron LNG JV, up to an additional 100 percent of the shares represented by the RSUs may be issued if Sempra Energy exceeds target performance conditions.