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OTHER FINANCIAL DATA (Tables)

3 Months Ended

Mar. 31, 2012

Other Financial Data (Tables) [Abstract]

GOODWILL
(Dollars in millions)
			Sempra
			South American		Sempra		Sempra
			Utilities		Mexico		Natural Gas		Total
Balance as of December 31, 2011		$	949	$	25	$	62	$	1,036
Foreign currency translation(1)			35		―		―		35
Balance at March 31, 2012		$	984	$	25	$	62	$	1,071
(1)	We record the offset of this fluctuation to other comprehensive income.

Net Periodic Benefit Cost Table

NET PERIODIC BENEFIT COST – SEMPRA ENERGY CONSOLIDATED
(Dollars in millions)
	Pension Benefits				Other Postretirement Benefits
	Three months ended March 31,				Three months ended March 31,
	2012		2011		2012		2011
Service cost	$	23	$	22	$	8	$	7
Interest cost		41		43		14		17
Expected return on assets		(39)		(37)		(13)		(12)
Amortization of:
Prior service cost		1		1		―		―
Actuarial loss		12		9		3		4
Regulatory adjustment		(30)		(29)		3		2
Total net periodic benefit cost	$	8	$	9	$	15	$	18

NET PERIODIC BENEFIT COST – SDG&E
(Dollars in millions)
	Pension Benefits				Other Postretirement Benefits
	Three months ended March 31,				Three months ended March 31,
	2012		2011		2012		2011
Service cost	$	7	$	7	$	2	$	2
Interest cost		12		13		2		2
Expected return on assets		(12)		(12)		(1)		(2)
Amortization of:
Prior service cost		―		1		1		1
Actuarial loss		4		2		―		―
Regulatory adjustment		(10)		(9)		―		1
Total net periodic benefit cost	$	1	$	2	$	4	$	4

NET PERIODIC BENEFIT COST – SOCALGAS
(Dollars in millions)
	Pension Benefits				Other Postretirement Benefits
	Three months ended March 31,				Three months ended March 31,
	2012		2011		2012		2011
Service cost	$	13	$	12	$	5	$	5
Interest cost		25		25		11		13
Expected return on assets		(24)		(22)		(11)		(10)
Amortization of:
Prior service cost (credit)		1		1		(1)		(1)
Actuarial loss		6		4		3		5
Regulatory adjustment		(20)		(20)		3		1
Total net periodic benefit cost	$	1	$	―	$	10	$	13

Contributions to Benefit Plans Table

	Sempra Energy
(Dollars in millions)	Consolidated		SDG&E		SoCalGas
Contributions through March 31, 2012:
Pension plans	$	10	$	―	$	2
Other postretirement benefit plans		15		4		10
Total expected contributions in 2012:
Pension plans	$	218	$	67	$	113
Other postretirement benefit plans		46		14		27

Earnings Per Share Computations Table

EARNINGS PER SHARE COMPUTATIONS
(Dollars in millions, except per share amounts; shares in thousands)
		Three months ended March 31,
		2012		2011(1)
Numerator:
Earnings/Income attributable to common shareholders		$	236	$	254

Denominator:
Weighted-average common shares outstanding for basic EPS			240,566		240,128
Dilutive effect of stock options, restricted stock awards and restricted stock units			3,195		1,775
Weighted-average common shares outstanding for diluted EPS			243,761		241,903

Earnings per share:
Basic		$	0.98	$	1.06
Diluted		$	0.97	$	1.05
(1)	As adjusted for the retrospective effect of a change in accounting principle as we discuss in Note 1.

Total Shareholder Return Ranking Table

Four-Year Cumulative Total Shareholder Return Ranking versus S&P 500 Utilities Index(1)	Number of Sempra Energy Common Shares Received for Each Restricted Stock Unit(2)
75th Percentile or Above	1.5
50th Percentile	1
35th Percentile or Below	―
(1) If Sempra Energy ranks at or above the 50th percentile compared to the S&P 500 Index, participants will receive a minimum of 1.0 share for each restricted stock unit.
(2) Participants may also receive additional shares for dividend equivalents on shares subject to restricted stock units, which are reinvested to purchase additional shares that become subject to the same vesting conditions as the restricted stock units to which the dividends relate.

Capitalized Financing Costs Table

CAPITALIZED FINANCING COSTS
(Dollars in millions)
	Three months ended March 31,
	2012		2011
Sempra Energy Consolidated:
AFUDC related to debt	$	14	$	8
AFUDC related to equity		35		19
Other capitalized financing costs		11		6
Total Sempra Energy Consolidated	$	60	$	33
SDG&E:
AFUDC related to debt	$	12	$	6
AFUDC related to equity		29		15
Total SDG&E	$	41	$	21
SoCalGas:
AFUDC related to debt	$	2	$	2
AFUDC related to equity		6		4
Total SoCalGas	$	8	$	6

Income Tax Expense (Benefit) Associated with Other Comprehensive Income Table

INCOME TAX EXPENSE (BENEFIT) ASSOCIATED WITH OTHER COMPREHENSIVE INCOME
(Dollars in millions)
	Three months ended March 31,
	2012						2011
			Non-						Non-
	Sempra		controlling				Sempra		controlling
	Energy		Interests		Total		Energy		Interests		Total
Sempra Energy Consolidated:
Net actuarial gain	$	1	$	―	$	1	$	1	$	―	$	1
Financial instruments		3		―		3		1		―		1

Shareholders' Equity and Noncontrolling Interests Table

SHAREHOLDERS’ EQUITY AND NONCONTROLLING INTERESTS
(Dollars in millions)
		Sempra
		Energy		Non-
		Shareholders’		controlling		Total
		Equity		Interests		Equity
Balance at December 31, 2011	$	9,775	$	403	$	10,178
Comprehensive income		309		17		326
Preferred dividends of subsidiaries		(2)		―		(2)
Share-based compensation expense		11		―		11
Common stock dividends declared		(144)		―		(144)
Issuance of common stock		13		―		13
Repurchase of common stock		(16)		―		(16)
Common stock released from ESOP		6		―		6
Distributions to noncontrolling interests		―		(2)		(2)
Balance at March 31, 2012	$	9,952	$	418	$	10,370
Balance at December 31, 2010	$	8,990	$	211	$	9,201
Comprehensive income		254		5		259
Preferred dividends of subsidiaries		(2)		―		(2)
Share-based compensation expense		11		―		11
Common stock dividends declared		(115)		―		(115)
Issuance of common stock		15		―		15
Tax benefit related to share-based compensation		2		―		2
Repurchase of common stock		(17)		―		(17)
Common stock released from ESOP		7		―		7
Equity contributed by noncontrolling interests		―		1		1
Balance at March 31, 2011	$	9,145	$	217	$	9,362

SHAREHOLDER’S EQUITY AND NONCONTROLLING INTEREST
(Dollars in millions)
		SDG&E		Non-
		Shareholder’s		controlling		Total
		Equity		Interest		Equity
Balance at December 31, 2011	$	3,739	$	102	$	3,841
Comprehensive income		106		6		112
Preferred stock dividends declared		(1)		―		(1)
Balance at March 31, 2012	$	3,844	$	108	$	3,952
Balance at December 31, 2010	$	3,108	$	113	$	3,221
Comprehensive income		90		5		95
Preferred stock dividends declared		(1)		―		(1)
Capital contribution		200		―		200
Equity contributed by noncontrolling interest		―		1		1
Balance at March 31, 2011	$	3,397	$	119	$	3,516

Amounts Due To and From Affiliates at SDG&E and SoCalGas Table

AMOUNTS DUE TO AND FROM AFFILIATES AT SDG&E AND SOCALGAS
(Dollars in millions)
		March 31,		December 31,
		2012		2011
SDG&E
Current:
Due from SoCalGas		$	―	$	2
Due from various affiliates			1		65
		$	1	$	67

Due to Sempra Energy		$	25	$	14
Due to SoCalGas			11		―
		$	36	$	14

Income taxes due from Sempra Energy(1)		$	85	$	97

SoCalGas
Current:
Due from Sempra Energy		$	218	$	23
Due from SDG&E			11		―
Due from various affiliates			―		17
		$	229	$	40

Due to SDG&E		$	―	$	2

Income taxes due (to) from Sempra Energy(1)		$	(9)	$	17
(1)	SDG&E and SoCalGas are included in the consolidated income tax return of Sempra Energy and are allocated income tax expense from Sempra Energy in an amount equal to that which would result from the companies’ having always filed a separate return.

Revenues From Unconsolidated Affiliates at SDG&E and SoCalGas Table

REVENUES FROM UNCONSOLIDATED AFFILIATES AT SDG&E AND SOCALGAS
(Dollars in millions)

	Three months ended March 31,
	2012		2011
SDG&E	$	2	$	2
SoCalGas		15		13

Amounts Recorded For Transactions with RBS Sempra Commodities Table

AMOUNTS RECORDED FOR TRANSACTIONS
WITH RBS SEMPRA COMMODITIES
(Dollars in millions)
	Three months ended March 31, 2011
Revenues:
Sempra Mexico	$	33
Sempra Natural Gas		12

Cost of natural gas:
Sempra Mexico	$	58
Sempra Natural Gas		3

Other Income and Expense Table

OTHER INCOME, NET
(Dollars in millions)
		Three months ended March 31,
		2012		2011
Sempra Energy Consolidated:
Allowance for equity funds used during construction		$	35	$	19
Investment gains(1)			19		8
Gains on interest rate and foreign exchange instruments, net			11		10
Regulatory interest, net(2)			1		―
Sundry, net			9		6
Total		$	75	$	43
SDG&E:
Allowance for equity funds used during construction		$	29	$	15
Regulatory interest, net(2)			1		―
Sundry, net			―		1
Total		$	30	$	16
SoCalGas:
Allowance for equity funds used during construction		$	6	$	4
Sundry, net			(2)		(1)
Total		$	4	$	3
(1)	Represents investment gains on dedicated assets in support of our executive retirement and deferred compensation plans. These amounts are partially offset by corresponding changes in compensation expense related to the plans.
(2)	Interest on regulatory balancing accounts.

Income Tax Expense and Effective Income Tax Rates Table

INCOME TAX EXPENSE AND EFFECTIVE INCOME TAX RATES
(Dollars in millions)
		Three months ended March 31,
		2012				2011
		Income Tax	Effective Income			Income Tax	Effective Income
		Expense	Tax Rate			Expense	Tax Rate
Sempra Energy Consolidated	$	117	33	%	$	114	33	%
SDG&E		60	35			49	34
SoCalGas		40	38			37	35

Variable Interest Entity Table

AMOUNTS ASSOCIATED WITH OTAY MESA VIE
(Dollars in millions)
	Three months ended March 31,
	2012		2011

Operating revenues
Electric	$	―	$	―
Natural gas		―		―
Total operating revenues		―		―
Operating expenses
Cost of electric fuel and purchased power		(19)		(17)
Operation and maintenance		4		4
Depreciation and amortization		6		6
Total operating expenses		(9)		(7)
Operating income		9		7
Interest expense		(3)		(3)
Income before income taxes/Net income		6		4
Earnings attributable to noncontrolling interest		(6)		(4)
Earnings	$	―	$	―

Ownership Interests Held By Others Table

OWNERSHIP INTERESTS HELD BY OTHERS
(Dollars in millions)
		Percent Ownership Held by Others			March 31, 2012		December 31, 2011
Bay Gas Storage, Ltd.(1)		9	%	$	18	$	17
Southern Gas Transmission Company(1)		49			1		1
Liberty Gas Storage, LLC(1)		25			9		9
Tecsur		10			3		4
Luz del Sur		20			222		216
Chilquinta Energía subsidiaries		15 - 43			37		34
Otay Mesa VIE (at SDG&E)		100			108		102
Total Sempra Energy				$	398	$	383
(1)	Part of Sempra Natural Gas.