XML 24 R2.htm IDEA: XBRL DOCUMENT v3.21.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
REVENUES        
Utilities operating revenue $ 2,560 $ 2,301 $ 7,839 $ 7,199
Energy-related businesses 453 343 1,174 1,000
Total revenues 3,013 2,644 9,013 8,199
Operating expenses        
Operation and maintenance (1,073) (1,018) (3,098) (2,767)
Aliso Canyon litigation and regulatory matters (1,571) (27) (1,571) (127)
Depreciation and amortization (471) (418) (1,376) (1,242)
Franchise fees and other taxes (151) (139) (442) (397)
Operating expenses        
Aliso Canyon litigation and regulatory matters 1,571 27 1,571 127
Other (expense) income, net (55) 29 52 (163)
Interest income 16 27 50 76
Interest expense (259) (264) (776) (818)
(Loss) income from continuing operations before income taxes and equity earnings (1,365) 201 (316) 1,061
Income tax benefit (expense) 342 (99) 45 (60)
Equity earnings 391 326 1,022 822
(Loss) income from continuing operations, net of income tax (632) 428 751 1,823
(Loss) income from discontinued operations, net of income tax 0 (7) 0 1,850
Net (loss) income (632) 421 751 3,673
Earnings attributable to noncontrolling interests (5) (22) (48) (201)
Preferred dividends (11) (48) (52) (121)
Preferred dividends of subsidiary 0 0 (1) (1)
(Losses) earnings attributable to common shares $ (648) $ 351 $ 650 $ 3,350
Basic EPS:        
(Losses) earnings from continuing operations (in dollars per share) $ (2.03) $ 1.23 $ 2.10 $ 5.17
(Losses) earnings from discontinued operations (in dollars per share) 0 (0.02) 0 6.31
(Losses) earnings (in dollars per share) $ (2.03) $ 1.21 $ 2.10 $ 11.48
Weighted-average common shares outstanding 319,144 289,490 309,350 291,771
Diluted EPS:        
(Losses) earnings from continuing operations (in dollars per share) $ (2.03) $ 1.23 $ 2.09 $ 5.15
(Losses) earnings from discontinued operations (in dollars per share) 0 (0.02) 0 6.28
(Losses) earnings from continuing operations attributable to common shares (in dollars per share) $ (2.03) $ 1.21 $ 2.09 $ 11.43
Weighted-average common shares outstanding, diluted (in shares) 319,144 290,582 310,854 292,935
Natural gas [Member]        
Operating expenses        
Operating expenses $ (282) $ (114) $ (892) $ (582)
Electric fuel and purchased power [Member]        
Operating expenses        
Operating expenses (312) (429) (828) (918)
Energy-related businesses [Member]        
Operating expenses        
Operating expenses (220) (90) (448) (200)
San Diego Gas and Electric Company [Member]        
REVENUES        
Electric 1,307 1,338 3,534 3,478
Natural gas 157 134 585 498
Utilities operating revenue 1,464 1,472 4,119 3,976
Operating expenses        
Cost of electric fuel and purchased power 324 430 869 921
Cost of natural gas 37 27 159 118
Operation and maintenance 389 414 1,152 1,050
Depreciation and amortization 226 200 659 598
Franchise fees and other taxes 93 86 264 237
Total operating expenses 1,069 1,157 3,103 2,924
Operating income 395 315 1,016 1,052
Other (expense) income, net 4 (2) 61 47
Interest income 0 1 1 2
Interest expense (104) (103) (307) (307)
(Loss) income from continuing operations before income taxes and equity earnings 295 211 771 794
Income tax benefit (expense) (90) (33) (168) (161)
Net (loss) income     603 633
(Losses) earnings attributable to common shares 205 178 603 633
Southern California Gas Company [Member]        
REVENUES        
Utilities operating revenue 1,106 842 3,738 3,247
Operating expenses        
Aliso Canyon litigation and regulatory matters (1,571) (27) (1,571) (127)
Operating expenses        
Cost of natural gas 240 92 736 476
Operation and maintenance 546 494 1,574 1,399
Aliso Canyon litigation and regulatory matters 1,571 27 1,571 127
Depreciation and amortization 180 165 533 486
Franchise fees and other taxes 54 48 163 142
Total operating expenses 2,591 826 4,577 2,630
Operating income (1,485) 16 (839) 617
Other (expense) income, net (39) (7) (2) 21
Interest income 0 0 0 2
Interest expense (39) (39) (118) (119)
(Loss) income from continuing operations before income taxes and equity earnings (1,563) (30) (959) 521
Income tax benefit (expense) 437 6 335 (95)
Net (loss) income (1,126) (24) (624) 426
Preferred dividends 0 0 (1) (1)
(Losses) earnings attributable to common shares $ (1,126) $ (24) $ (625) $ 425