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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
REVENUES        
Utilities operating revenue $ 2,233 $ 1,895 $ 4,898 $ 4,410
Energy-related businesses 293 335 657 718
Total revenues 2,526 2,230 5,555 5,128
Operating expenses        
Operation and maintenance (898) (838) (1,849) (1,670)
Depreciation and amortization (412) (389) (824) (772)
Franchise fees and other taxes (121) (112) (258) (242)
Gain on sale of assets 0 66 0 66
Operating expenses        
Other income (expense), net 62 28 (192) 110
Interest income 22 21 49 42
Interest expense (274) (258) (554) (518)
Income from continuing operations before income taxes and equity earnings 463 286 860 787
Income tax (expense) benefit (168) (47) 39 (89)
Equity earnings 233 118 496 219
Income from continuing operations, net of income tax 528 357 1,395 917
Income from discontinued operations, net of income tax 1,777 78 1,857 36
Net income 2,305 435 3,252 953
Earnings attributable to noncontrolling interests (28) (45) (179) (86)
Preferred dividends (37) (35) (73) (71)
Preferred dividends of subsidiary (1) (1) (1) (1)
Earnings attributable to common shares $ 2,239 $ 354 $ 2,999 $ 795
Basic EPS:        
Earnings from continuing operations $ 1.58 $ 1.03 $ 3.93 $ 2.82
Earnings from discontinued operations 6.06 0.26 6.31 0.07
Earnings attributable to common shares (in usd per share) $ 7.64 $ 1.29 $ 10.24 $ 2.89
Weighted-average common shares outstanding 293,060 274,987 292,925 274,831
Diluted EPS:        
Earnings from continuing operations $ 1.58 $ 1.01 $ 3.91 $ 2.78
Earnings from discontinued operations 6.03 0.25 6.00 0.07
Earnings from continuing operations attributable to common shares (in usd per share) $ 7.61 $ 1.26 $ 9.91 $ 2.85
Weighted-average common share outstanding, diluted 294,155 279,619 307,962 278,424
Natural gas [Member]        
Operating expenses        
Operating expenses $ (131) $ (136) $ (468) $ (667)
Electric fuel and purchased power [Member]        
Operating expenses        
Operating expenses (260) (263) (489) (519)
Energy-related businesses [Member]        
Operating expenses        
Operating expenses (51) (63) (110) (171)
San Diego Gas and Electric Company [Member]        
REVENUES        
Electric 1,090 973 2,140 1,913
Natural gas 145 121 364 326
Utilities operating revenue 1,235 1,094 2,504 2,239
Operating expenses        
Cost of electric fuel and purchased power 260 265 491 523
Cost of natural gas 31 34 91 113
Operation and maintenance 326 276 636 562
Depreciation and amortization 197 189 398 375
Franchise fees and other taxes 73 67 151 141
Total operating expenses 887 831 1,767 1,714
Operating income 348 263 737 525
Other income (expense), net 18 19 49 41
Interest income 0 1 1 2
Interest expense (103) (102) (204) (205)
Income from continuing operations before income taxes and equity earnings 263 181 583 363
Income tax (expense) benefit (70) (35) (128) (40)
Net income 193 146 455 323
Earnings attributable to noncontrolling interests 0 (3) 0 (4)
Earnings attributable to common shares 193 143 455 319
Southern California Gas Company [Member]        
REVENUES        
Utilities operating revenue 1,010 806 2,405 2,167
Operating expenses        
Cost of natural gas 106 104 384 559
Operation and maintenance 462 454 1,005 864
Depreciation and amortization 162 148 321 295
Franchise fees and other taxes 43 41 94 89
Total operating expenses 773 747 1,804 1,807
Operating income 237 59 601 360
Other income (expense), net (2) 1 28 17
Interest income 1 1 2 1
Interest expense (40) (34) (80) (68)
Income from continuing operations before income taxes and equity earnings 196 27 551 310
Income tax (expense) benefit (49) 4 (101) (15)
Net income 147 31 450 295
Preferred dividends (1) (1) (1) (1)
Earnings attributable to common shares $ 146 $ 30 $ 449 $ 294