EX-99 3 ex99_2.htm EXHIBIT 99.2 SEMPRA ENERGY

SEMPRA ENERGY

(Unaudited)

Income Statement Data by Business Unit

Three Months Ended June 30, 2005

(Dollars in millions)

SDG&E

SoCal Gas

Commodities

Generation

Pipelines & Storage

LNG

Financial

Consolidating Adjustments, Parent & Other

Total

 

Operating Revenues

$ 539

$ 940

$ 446

$ 355

$ 75

$ -

$ -

$ (83

)

 

$ 2,272

 

Operating Expenses

403

773

391

283

69

8

-

(31

)

 

1,896

-

 

Depreciation & Amortization

66

 

66

 

7

 

14

 

3

 

-

 

5

 

2

 

 

163

 

Operating Income

70

101

48

58

3

(8

)

(5

)

(54

)

 

213

 

Other Income, net

(2

) 

-

 

-

 

(6

)

13

 

-

 

-

 

4

 

 

9

 

Income before Interest & Taxes (1)

68

101

48

52

16

(8)

(5

)

(50

)

 

222

 

Net Interest Expense (2)

19

9

7

3

-

-

2

23

 

63

 

Income Tax Expense/(Benefit)

20

34

15

22

-

(3

)

(14

)

(38

)

 

36

 

Discontinued Operations

-

-

-

-

-

-

-

(2

)

 

(2

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Income

$ 29

 

$ 58

 

$ 26

 

$ 27

 

$ 16

 

$ (5

)

$ 7

 

$ (37

) 

 

$ 121

Three Months Ended June 30, 2004

(Dollars in millions)

SDG&E

SoCal Gas

Commodities

Generation

Pipelines & Storage

LNG

Financial

Consolidating Adjustments, Parent & Other

Total

 

Operating Revenues

$ 536

$ 847

$ 344

$ 436

$ 63

$ -

$ -

$ (230

)

 

$ 1,996

 

Operating Expenses

395

678

263

380

63

4

1

(173

)

 

1,611

 

Depreciation & Amortization

67

 

76

 

5

 

10

 

3

 

-

 

-

 

4

 

 

165

 

Operating Income

74

93

76

46

(3

)

(4

)

(1

)

(61

)

 

220

 

Other Income, net

1

 

4

 

-

 

(10

) 

32

 

-

 

(15

) 

1

 

 

13

 

Income before Interest & Taxes (1)

75

97

76

36

29

(4

)

(16

)

(60

)

 

233

 

Net Interest Expense (2)

18

9

2

9

1

-

2

32

 

73

 

Income Tax Expense/(Benefit)

27

38

28

8

11

(2

)

(24

)

(55

)

 

31

 

Discontinued Operations

-

-

-

-

-

-

-

(8

)

 

(8

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Income

$ 30

 

$ 50

 

$ 46

 

$ 19

 

$ 17

 

$ (2)

 

$ 6

 

$ (45

) 

 

$ 121

(1) Management believes "Income before Interest & Taxes" (Operating Income plus Other Income, net) is a useful measurement of our business units' performance because it can be used to evaluate the effectiveness of our operations exclusive of interest and income taxes, neither of which is directly relevant to the efficiency of those operations.

(2) Net Interest Expense includes Interest Income, Interest Expense and Preferred Dividends of Subsidiaries.





SEMPRA ENERGY

(Unaudited) (continued)

Income Statement Data by Business Unit

Six Months Ended June 30, 2005

(Dollars in millions)

SDG&E

SoCal Gas

Commodities

Generation

Pipelines & Storage

LNG

Financial

Consolidating Adjustments, Parent & Other

Total

 

Operating Revenues

$ 1,160

$ 2,181

$ 904

$ 775

$ 144

$ -

$ -

$ (200

)

 

$ 4,964

 

Operating Expenses

864

1,822

792

618

130

15

1

(94

)

 

4,148

 

Depreciation & Amortization

131

 

132

 

14

 

27

 

7

 

-

 

11

 

2

 

 

324

 

Operating Income

165

227

98

130

7

(15

)

(12

)

(108

)

 

492

 

Other Income, net

1

 

(1

) 

-

 

-

 

23

 

-

 

(1

) 

4

 

 

26

 

Income before Interest & Taxes (1)

166

226

98

130

30

(15

)

(13

)

(104

)

 

518

 

Net Interest Expense (2)

31

18

13

8

-

1

3

54

 

128

 

Income Tax Expense/(Benefit)

47

81

30

49

1

(6

)

(27

)

(131

)

 

44

 

Discontinued Operations

-

-

-

-

-

-

-

(2

)

 

(2

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Income

$ 88

 

$ 127

 

$ 55

 

$ 73

 

$ 29

 

$ (10

) 

$ 11

 

$ (29

) 

 

$ 344

Six Months Ended June 30, 2004

(Dollars in millions)

SDG&E

SoCal Gas

Commodities

Generation

Pipelines & Storage

LNG

Financial

Consolidating Adjustments, Parent & Other

Total

 

Operating Revenues

$ 1,116

$ 1,995

$ 652

$ 736

$ 127

$ -

$ -

$ (270

)

 

$ 4,356

 

Operating Expenses

800

1,641

481

602

120

6

1

(177

)

 

3,474

 

Depreciation & Amortization

135

 

150

 

11

 

22

 

7

 

-

 

2

 

3

 

 

330

 

Operating Income

181

204

160

112

-

(6

)

(3

)

(96

)

 

552

 

Other Income, net

3

 

1

 

-

 

(14

) 

41

 

13

 

(27

) 

1

 

 

18

 

Income before Interest & Taxes (1)

184

205

160

98

41

7

(30

)

(95

)

 

570

 

Net Interest Expense (2)

31

18

4

13

1

-

4

61

 

132

 

Income Tax Expense/(Benefit)

73

81

53

31

12

3

(50

)

(115

)

 

88

 

Discontinued Operations

-

-

-

-

-

-

-

(32

)

 

(32

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Income

$ 80

 

$ 106

 

$ 103

 

$ 54

 

$ 28

 

$ 4

 

$ 16

 

$ (73

) 

 

$ 318

(1) Management believes "Income before Interest & Taxes" (Operating Income plus Other Income, net) is a useful measurement of our business units' performance because it can be used to evaluate the effectiveness of our operations exclusive of interest and income taxes, neither of which is directly relevant to the efficiency of those operations.

(2) Net Interest Expense includes Interest Income, Interest Expense and Preferred Dividends of Subsidiaries.