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SHARE-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2019
Share-based Payment Arrangement, Noncash Expense [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,
 
2019
 
2018
 
2017
Sempra Energy Consolidated:
 
 
 
 
 
Share-based compensation expense, before income taxes(1)
$
66

 
$
76

 
$
78

Income tax benefit(1)
(18
)
 
(21
)
 
(31
)
 
$
48

 
$
55

 
$
47

 
 
 
 
 
 
Capitalized share-based compensation cost
$
11

 
$
10

 
$
9

Excess income tax deficiency
$
4

 
$
15

 
$
—

SDG&E:
 
 
 
 
 
Share-based compensation expense, before income taxes
$
10

 
$
12

 
$
13

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

 
$
9

 
$
8

 
 
 
 
 
 
Capitalized share-based compensation cost
$
6

 
$
6

 
$
5

Excess income tax deficiency
$
1

 
$
3

 
$
—

SoCalGas:
 

 
 

 
 

Share-based compensation expense, before income taxes
$
15

 
$
16

 
$
17

Income tax benefit
(4
)
 
(5
)
 
(7
)
 
$
11

 
$
11

 
$
10

 
 
 
 
 
 
Capitalized share-based compensation cost
$
5

 
$
4

 
$
4

Excess income tax deficiency
$
1

 
$
2

 
$
—


(1) 
Includes activity of awards issued from the IEnova 2013 LTIP, which settle in cash upon vesting based on the price of IEnova’s common stock.
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions To calculate this fair value, we used the Black-Scholes model with the following weighted-average assumptions:
KEY ASSUMPTIONS FOR STOCK OPTIONS GRANTED
 
 
Year ended December 31, 2019
Stock price volatility
18.63
%
Expected term
5.34 years

Risk-free rate of return
2.49
%
Annual dividend yield
3.35
%
Schedule Of Non-qualified Stock Options
The following table shows a summary of nonqualified stock options at December 31, 2019 and activity for the year then ended:
NONQUALIFIED STOCK OPTIONS
 
 
 
 
 
 
 
 
 
Common shares under options
 
Weighted- average exercise price
 
Weighted- average remaining contractual term (in years)
 
Aggregate intrinsic value (in millions)
Outstanding at January 1, 2019
56,940

 
$
54.63

 
 
 
 
Granted
261,075

 
$
106.76

 
 
 
 
Exercised
(52,540
)
 
$
54.52

 
 
 
 
Forfeited/canceled
(17,898
)
 
$
106.76

 
 
 
 
Outstanding at December 31, 2019
247,577

 
$
105.86

 
8.85
 
$
11

 
 
 
 
 
 
 
 
Vested or expected to vest at December 31, 2019
237,236

 
$
105.82

 
8.84
 
$
11

Exercisable at December 31, 2019
4,400

 
$
55.90

 
0.01
 
$
—
Schedule Of Restricted Stock Awards And Units Valuation Assumptions Below are key assumptions for RSUs granted in the last three years:
KEY ASSUMPTIONS FOR RSUs GRANTED
 
 
Years ended December 31,
 
2019
 
2018
 
2017
Stock price volatility
17.74
%
 
17.46
%
 
17.24
%
Risk-free rate of return
2.46
%
 
2.00
%
 
1.49
%
Schedule Of Restricted Stock Units

The following table shows a summary of RSUs at December 31, 2019 and activity for the year then ended:
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, 2019
1,242,169

 
$
106.11

 
402,361

 
$
105.01

Granted
389,825

 
$
113.54

 
260,594

 
$
112.50

Vested
(142,820
)
 
$
100.28

 
(209,395
)
 
$
102.68

Forfeited
(402,193
)
 
$
103.34

 
(37,773
)
 
$
110.25

Nonvested at December 31, 2019(1)
1,086,981

 
$
109.85

 
415,787

 
$
119.96

Expected to vest at December 31, 2019
1,066,375

 
$
109.89

 
408,782

 
$
109.65

(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, up to an additional 100% of the shares represented by the RSUs may be issued if Sempra Energy exceeds target performance conditions.