SCHEDULE I, CONDENSED FINANCIAL INFORMATION OF PARENT (Tables)

12 Months Ended

Dec. 31, 2012

SEMPRA ENERGY
CONDENSED STATEMENTS OF OPERATIONS
(Dollars in millions, except per share amounts)
	Years ended December 31,
	2012		2011		2010

Interest income	$	83	$	109	$	146
Interest expense		(247)		(242)		(265)
Operation and maintenance		(68)		(64)		(59)
Other income, net		66		42		65
Income tax benefits		145		82		79
Loss before equity in earnings of subsidiaries		(21)		(73)		(34)
Equity in earnings of subsidiaries, net of income taxes		880		1,404		743
Net income/earnings	$	859	$	1,331	$	709

Basic earnings per common share	$	3.56	$	5.55	$	2.90
Weighted-average number of shares outstanding (thousands)		241,347		239,720		244,736

Diluted earnings per common share	$	3.48	$	5.51	$	2.86
Weighted-average number of shares outstanding (thousands)		246,693		241,523		247,942
See Notes to Condensed Financial Information of Parent.

SEMPRA ENERGY
CONDENSED BALANCE SHEETS
(Dollars in millions)
	December 31,		December 31,
	2012		2011
Assets:
Cash and cash equivalents	$	18	$	11
Due from affiliates		125		112
Deferred income taxes		109		―
Other current assets		16		16
Total current assets		268		139

Investments in subsidiaries		12,545		12,209
Due from affiliates		1,759		1,730
Deferred income taxes		1,541		1,200
Other assets		576		548
Total assets	$	16,689	$	15,826

Liabilities and shareholders’ equity:
Current portion of long-term debt	$	652	$	8
Due to affiliates		539		1,014
Income taxes payable		26		246
Other current liabilities		260		336
Total current liabilities		1,477		1,604

Long-term debt		4,409		3,957
Other long-term liabilities		521		490
Shareholders’ equity		10,282		9,775
Total liabilities and shareholders’ equity	$	16,689	$	15,826
See Notes to Condensed Financial Information of Parent.

SEMPRA ENERGY
CONDENSED STATEMENTS OF CASH FLOWS
(Dollars in millions)
	Years ended December 31,
	2012		2011		2010

Net cash (used in) provided by operating activities	$	(809)	$	(287)	$	218

Dividends received from subsidiaries		250		50		100
Expenditures for property, plant and equipment		(1)		(2)		(1)
Purchase of trust assets		(6)		(7)		―
Proceeds from sales by trust		10		12		11
Capital contribution to subsidiary		―		(200)		―
(Increase) decrease in loans to affiliates, net		(33)		82		1,204
Cash provided by (used in) investing activities		220		(65)		1,314

Common stock dividends paid		(550)		(440)		(364)
Issuances of common stock		78		28		40
Repurchases of common stock		(16)		(18)		(502)
Issuances of long-term debt		1,100		799		40
Payments on long-term debt		(8)		(24)		(565)
Decrease in loans from affiliates, net		―		(136)		(40)
Other		(8)		(3)		9
Cash provided by (used in) financing activities		596		206		(1,382)

Increase (decrease) in cash and cash equivalents		7		(146)		150
Cash and cash equivalents, January 1		11		157		7
Cash and cash equivalents, December 31	$	18	$	11	$	157
See Notes to Condensed Financial Information of Parent.

	December 31,		December 31,
(Dollars in millions)	2012		2011

6% Notes February 1, 2013	$	400	$	400
8.9% Notes November 15, 2013, including $200 at variable rates after
fixed-to-floating rate swaps effective January 2011 (8.05% at December 31, 2012)		250		250
2% Notes March 15, 2014		500		500
Notes at variable rates (1.07% at December 31, 2012) March 15, 2014		300		300
6.5% Notes June 1, 2016, including $300 at variable rates after
fixed-to-floating rate swaps effective January 2011 (4.64% at December 31, 2012)		750		750
2.3% Notes April 1, 2017		600		―
6.15% Notes June 15, 2018		500		500
9.8% Notes February 15, 2019		500		500
2.875% Notes October 1, 2022		500		―
6% Notes October 15, 2039		750		750
Employee Stock Ownership Plan Bonds at variable rates payable on demand
(0.40% at December 31, 2011) November 1, 2014		―		8
Market value adjustments for interest rate swaps, net
(expire November 2013 and June 2016)		19		16
		5,069		3,974
Current portion of long-term debt		(652)		(8)
Unamortized discount on long-term debt		(8)		(9)
Total long-term debt	$	4,409	$	3,957

SEMPRA ENERGY
CONDENSED STATEMENTS OF COMPREHENSIVE INCOME
(Dollars in millions)
		Years ended December 31, 2012, 2011 and 2010
		Pretax		Income Tax		Net-of-tax
		Amount(1)		(Expense) Benefit		Amount
2012:
Net income		$	859			$	859
Other comprehensive income (loss):
Foreign currency translation adjustments			119	$	―		119
Pension and other postretirement benefits			(4)		2		(2)
Financial instruments			(6)		2		(4)
Total other comprehensive income			109		4		113
Total comprehensive income		$	968	$	4	$	972
2011:
Net income		$	1,331			$	1,331
Other comprehensive income (loss):
Foreign currency translation adjustments			(79)	$	3		(76)
Reclassification to net income of foreign
currency translation adjustment related
to remeasurement of equity method
investments			(54)		―		(54)
Available-for-sale securities			(2)		1		(1)
Pension and other postretirement benefits			(20)		8		(12)
Financial instruments			(26)		10		(16)
Total other comprehensive income (loss)			(181)		22		(159)
Total comprehensive income		$	1,150	$	22	$	1,172
2010:
Net income		$	709			$	709
Other comprehensive income (loss):
Foreign currency translation adjustments			47	$	―		47
Available-for-sale securities			(10)		2		(8)
Pension and other postretirement benefits			23		(10)		13
Financial instruments			(22)		9		(13)
Total other comprehensive income			38		1		39
Total comprehensive income		$	747	$	1	$	748
(1)	Except for Net Income and Total Comprehensive Income (Loss).
See Notes to Condensed Financial Information of Parent.